Sanctity of Truth Facebook.com/newtelegraph
Friday, August 8, 2014 Vol. 1 No. 171
twitter.com/newtelegraph1
www.newtelegraphonline.com
N150
Nigeria’s most authoritative newspaper in politics and business
Oil theft, 2015 polls dampen Nigeria’s economic outlook –ADB Abdulwahab Isa Abuja
R
ampant cases of oil theft in Niger Delta and possible distraction associated with 2015 general election may
dampen the positive economic outlook for Nigeria, the African Development Bank (ADB) has said. ADB made this known in its African Economic Outlook 2014 report launched in Abuja yester-
day. Nigeria’s economy had grown by 6.21 per cent in the first quarter of 2014, up from 4.45 per cent in the same period last year. This was, however, lower than 6.77 per cent recorded in
the fourth quarter of 2013, while the nominal Gross Domestic Product (GDP) was estimated N18, 295, 631.91 or N14, 535,420.95 million in real terms. Nigeria’s economy had grown 6.5 per cent and 7.0
per cent in 2012 and 2013 respectively and is projected by the World Bank to grow at 6.7 per cent, 5.5 per cent and 6.1 per cent respectively in 2014, 2015 and 2016. Specifically, the ADB report noted that oil theft
and pipeline vandalism, which have translated to loss of revenue, as well as the security challenges in the North-East, might stifle the positive economic outlook for the country CONTINUED ON PAGE 2
65,000 security agents for Osun guber poll lAPC, PDP trade accusations over ballot papers lGovt declares today public holiday, urges mass voters’ turnout Adeolu Adeyemo, Temitope Ogunbanke, Wale Elegbede, Mojeed Alabi and Johnchuks Onuanyim
A
bout 65,000 security agents, comprising personnel drawn from the military, the police and the Nigeria Security and Civil Defence Corps (NSCDC) have been deployed in Osun State to maintain law and order during tomorrow’s governorship election in the state. The security personnel, according to a source, compose of 15,000 soldiers, 30,000 policemen and 20,000 NSCDC officials, majority of who have arrived in the state. The 65,000 security agents, it was learnt, CONTINUED ON PAGE 2
L-R: Group Managing Director/CEO, Access Bank Plc, Mr. Herbert Wigwe; life patron, Newspapers Proprietors’ Association of Nigeria (NPAN), Mallam Ismaila Isa; former Abia State Governor, Dr. Orji Uzor Kalu; former Ogun State Governor, Chief Olusegun Osoba; Chairman, Independent National Electoral Commission (INEC), Prof. Attahiru Jega; President, NPAN, Mr. Nduka Obaigbena and General Secretary, Mrs. Comfort Obi, during the association’s Annual General Meeting (AGM) in Lagos…yesterday. PHOTO: SULEIMAN HUSAINI
Jubilation as Fashola reverses LASU fees to N25,000 lFG grants life insurance to health workers lECOWAS suspends meetings }9 lOgun wants RCCG, NASFAT, others to shelve religious gatherings
Ebola: Obama forecloses sending drug to Nigeria
Lagos
Storms
26OC |23OC For subscription, advert and story tips, please call
+234 (1)221 9496, 08033392655, 08023010222
Appolonia Adeyemi, Kunle Olayeni, Tunde Oyesina, Chukwu David, Yekeen Nurudeen and Obinna Odoh
U
nited States President Barack Obama yesterday dashed the Federal Government’s hope of
having experimental drug for the treatment of Ebola to Nigeria and other affected West African countries. Obama said Nigeria and other affected coun-
tries should instead focus on building a “strong public infrastructure.” “I think we have to let the science guide us. And I don’t think all the infor-
mation is in on whether this drug is helpful,” he said. He said the United States is working with European partners and the
World Health Organization to provide resources to help contain the epidemic. “We’re focusing on the CONTINUED ON PAGE 6
Boko Haram: Nigeria is under siege, says Gusau
}4