A media partner of
SATURDAY
Sanctity Of Truth
NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS /newtelegraph
Vol. 1 No. 320
Monday, January 5, 2015
@newtelegraph1 www.newtelegraphonline.com
N150
214 House of reps members warmed bench in 2014 }2
TUC, APC push for fuel price cut Temitope Ogunbanke
T
he Trade Union Congress (TUC) and the All Progressives Congress (APC), Oyo State chapter, yesterday called
on the Federal Government to review downward the pump price of fuel in view of the sliding price of oil in the global market. They said in separate statements that there was
no continued justification to maintain the current price regime when the price of oil had crashed in the last few months to about $57 per barrel, as at last week.
The pump price of petrol currently sells at a regulated price of N97 per litre, diesel at between N130 and N150 per litre while the official price for CONTINUED ON PAGE 6
NEW TELEG
RAPH MOND AY, JANUA
Money Line
RY 5, 2015
CACS: UBA, Zenith, FirstB disburse ank lion share of N245bn
35
Stock Wat ch
Cutix: Profit s shrink on milieu harsh
37
Insurance
Accounts: A&G, licence –NAI UNIC, others may lose COM
38
Business Power ge nera
Interview
Governmen t building –Fucmust encourage capacity hs
Page 21
What's neW s
Aviation’s GDP rise input to s
tion sh dips supp ly below 3 rinks, ,500MW
Aviation stakeholde that the domestic rs have said industry air trans port is measured fast growing when services. by demand for air
p.22
CHALLENG ES Gas still pose s challenge generatio to n
Hydro plants sho w early cyc lical low wa ter
This, accor ding to ally come him,
and May s up in March, usu- the plant the feele of every year, April ginning s is that they rs we are are to “but cyclical show early signs be- tenance. having ndications from water level of due to lack weekend emerged at the “All five of adeq problem units in hydro powethat the three uate main the 760 geria - Kain r plants in NiCONT INUED ji, Shiro Jebba, have ON PAGE ro Profession 22 ly cyclical begun to show and of the Nigerals under the auspi which has,low water prob earces lems Estate Surveian Institution , the powe in retur n, of yors and dipped (NIESV) Valuers 3,500 Megar generation have below implement commenced Watt the New Teleg s (MW). of fees for ation of a new range raph learn this chall their servic t that es. comes up enge, which usua lly May of between Marc h worsenedevery year, has and also the inabi plants lity of to capacity produce at optimthe . al p.36 Generatio n, which the third has ing fluct quarter of 2014since MW and uating between bedipped 3,700 MW, had 3,000 to earli ber, 2014. 3,500 MW in Nove er mThat time, gas short according age was, Adviser to the Senior Spec on Gas to of Powe the Mini ial The Business r, sponsible Mr Frank Edoz ster Desk ie, refor the fall. ayodele aminu Edozie Deputy Editor L-R: Direct generatio who confirmed (Busine or, Brand Bayo akomo ss) the drop n shortage said the Spero and Direct and Marketing, lafe Asst. Editor was due to 3,500 mega that series in Lagos or, Legal and Comp Airtel Nigeria, Obinn (Maritim watts a Aniche any Secret sunday Ojeme e) lines and to sabotage of ; Producer, ary, Airtel Asst. Editor pipeAirtel inadequate Nigeria, ply. (Insurance) Gbenga Rotim Touching Lives gas supProgramme, Godson Ikoro i, at the premi The senio Patricious Asst. Editor ere of Touch Dele Alao r special (Money Market said that ing Lives adviser TV ) Dele alao eration available powe otwithstan r Industry & Agric Editor stood at capacity curr gending the in 6,000 ently the price Dayo ayeye fall megawatts system mi capa the coun of crude oil, Property Editor megawatts city stood at while revenue try’s bigg 5,000 earn . adeola Yusuf est er, nomic “The growth Nigeria’s ecoEnergy Editor ever, worssituation has, is hit betw hoween five expected to ened in Wole shada by six recen per poor re per cent cent and t years Aviation Editor this year, and lack water managem repo mains posit ent rivatrt from the Fina a latest Chris Ugwu ive and the hydr of maintena to rang is ive ncial nce proje o stations,” Capital Market e between Company of Dected this at the Mini (FDC) has per cent in five a source said. abdulwahabEditor 2015, marg and six driveprojected grow this news stry of Powe low the “The Isa inally beth will r told n by the paper. estimated Finance Editor be notwithstdecline (oil price) for 2014. The lowe 6.4 per cent the report said.non-oil sector,” Kunle azeez economic anding, Nige jection It adde Senior Corresp is large r growth proria’s growth d that the ly due ondent pact tor outlook Chuks Onuan re- of of oil revenue to the im- costwould be affec real secyin other secto on fund ted of borr INFLATION ing Energy owing, by high rs. The RATE November as singl bulk of nnamdi amadi 2014.. Rates e October 2014.. ......................7.9% LENDING Dashbo CONT INUED Reporter RATE InterBank a ON PAGE r Johnson adeba d September ..........................8.1 Rate............ 22 % 2014............ yo ........12.57% Prime Lendi Asst Produc EXCHANGE .........8.3% tion Editor ng Rate.. RATE (Parallel .........17.93% Maximum As at Dec. 28) USD . . . . Lending Rate.. EXCHANGE . .26.83% Pounds . . . . . . . . . . . . . . . . . RATE N180 . (Official As Euro . . . . . . . . . . . . . . . . . . . N290 at Dec. 26) USD . . . . l Foreig ......... . n Reserv . . . . . . . .N238 Pounds . . . . . . . . . . . . . . . . . es – $35.19 . N168 . bn as at 18/12/2014 Euro . . . . . . . . . . . . . . . . . .N263 ......... Source: CBN . . . . . . N205.39 .41
Estate surv service fee eyors raise by 100%
Adeola Yusu f
I
21
42-43
problems
12 pages of incisive Business
Stop 2015 elections N
Nigeria’s ec onomic growth to hit 6% in 20 15
lBuhari's ex-running mate, Bakare, seeks two-year transitional govt }2
Quick Read
Editorial
Travel Advisory Your guide to local and international flights 4
L-R: Wife of the All Progressives Congress (APC) vice-presidential candidate, Mrs. Oludolapo Osinbajo; her husband, Prof. Yemi Osinbajo; wife of the General Overseer, Redeemed Christian Church of God (RCCG), Mrs. Folu Adeboye; her husband, Pastor Enoch Adeboye; Lagos State Governor, Mr. Babatunde Fashola; his wife, Abimbola and APC presidential candidate, Major General Muhammadu Buhari, at the Lagos State Annual Thanksgiving Service in Lagos...yesterday.
PDP unveils ‘war team'
lNigerians’ll decide election outcome, says APC Ayodele Ojo
A
head of the February 14 presidential elec-
tion, President Goodluck Jonathan will today unveil his ‘war commanders’ who will prosecute the all-
important election on his behalf. The unveiling of the Jonathan’s war command-
ers will take place this afternoon at the Legacy House, Maitama, Abuja. CONTINUED ON PAGE 5
Improving the teaching profession }19
Jonathan loses younger sister }12 Onwuliri: Only Jonathan can unite Nigeria }47