The Nation August 20, 2014

Page 1

Tambuwal’s comment upsets Presidency NEWS Page 62

Newspaper of the Year

News Fire displaces 5,000 in Lagos P10 Sports Enyeama, others for Congo clash P24 Business Govt revenue drops by N154b P53

•Nigeria’s widest circulating newspaper

VOL. 9, NO. 2944 WEDNESDAY, AUGUST 20, 2014

T •Nwankwo

•www.thenationonlineng.net

TR UTH IN DEFENCE OF FREEDOM TRUTH

N150.00

DMO chief defends Nigeria’s $66b debts

HERE is no need to worry about Nigeria’s over $66 billion (over N10 trillion) debts, the Debt Management Office (DMO) has said. The money was well invested, DMO Director General Dr. Abraham Nwankwo said. Nwankwo spoke at an interactive session with Finance reporters in Abuja.

From Nduka Chiejina, Abuja

He said: “Our total domestic debt for the Federal Government, states and the FCT is about N8.9 trillion (about $48 billion) and the external debt is about $9.38 billion. If you combine the two in one currency, you will find the debt to GDP ratio is about 12.51 per cent, which is much

lower than the 26 per cent debt to GDP that is allowed countries in our peer group.” The states’ and the FCT’s portion of the domestic debt is about $10 billion (about N1.151 trillion), excluding the external component which stands at a little above $3billion. In Nwankwo’s view, one key achievement of the DMO

is the development of longer tenor instrument of between two to 20 years in the debt market, which has paved the way for 23 Nigerian companies in the last five years to raise locally N223 billion through the issuance of bonds. “This is a development, which was unthinkable before now where only short

term instruments of three months and one year were prevalent,” he said. Anti-borrowing advocates may have to push their case further. Nwankwo said the government would not shy away from aggressive borrowing, but will allow the private sector to take over in raising cheap funds Continued on page 4

Ebola virus death toll hits five as Lagos doctor dies Fifth death recorded Six Nigerians isolated in Germany, Vietnam

Why I joined PDP, by Ribadu

She was not on duty on the day Mr. Sawyer was brought to the hospital, but she responded to the emergency. She left what she was doing to save a life

By Oyeyemi Gbenga-Mustapha and Wale Adepoju

N

IGERIA yesterday recorded the fifth death in the Ebola outbreak. The announcement of the death of Dr. Stella Shade Aneyo Adadevoh, the senior consultant physician who treated the late American-Liberian Ebola patient Patrick Sawyer, sent her family members and colleagues into mourning. She was among the last surviving three patients who contracted the virus after having primary contact with the late Sawyer. She died at the isolation ward of the Lagos Mainland Hospital in Yaba, Lagos where they were being treated. A statement last night from the Federal Ministry of Health, titled: “Fifth death of Ebola patient recorded in Nigeria”, said: “The Honourable Minister of Health, Prof. Onyebuchi Chukwu, regrets to announce the death, this evening, of one of the primary contacts of the index Ebola Virus Disease case, the most senior doctor who participated in the management of the patient, a female consultant physician. “With this unfortunate development, the total number of Ebola Virus related deaths in Nigeria now stands at five. The other two patients currently under treatment in the isolation wards are stable and are being taken care of.” The statement was signed by Mr. Dan Nwomeh, Special Assistant on Media and Communication to the Minister.

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WHERE ARE THE CHIBOK GIRLS KIDNAPPED ON APRIL 15?

From Yusuf Alli and Vincent Ikuomola, Abuja

F

ORMER Economic and Financial Crimes Commission (EFCC) Chair Nuhu Ribadu has explained why he left the All Progressives Congress (APC) for the Peoples Democratic Party (PDP). He also denied disparaging the APC and Governors Rotimi Amaechi (Rivers) and Rabiu Kwankwaso (Kano). Ribadu was the presidential candidate of the Action Congress of Nigeria (ACN), one of the parties that fused to form the APC. In a letter to the APC chairman in Bako Ward in Adamawa State, he said he would forever be thankful to the opposition party for admitting him into its fold as a member. The letter, dated August 14, 2014, reads: “I wish to forward my membership withdrawal with the All Progressives Congress Continued on page 4

Continued on page 4

INSIDE

•Ogun puts three under watch •AND •Govt focuses on MORE ON carrier animals PAGES 2 -4, •Ibadan patient 6&5 9 &59 tests negative •NBA: recall doctors

•EVER DUTIFUL: The late Dr. Adadevoh at work

•Ribadu

•LIFE P15 •SPORTS P23 •MONEY P26 •INVESTORS P28 •POLITICS P45 •FOREIGN P60


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