The Nation October 18 ,2011

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Nigeria’s widest circulating newspaper

Bankole has case to answer, says EFCC BUSINESS– Page 11

•Court to rule on December 19

NDLEA awaits Baba Suwe ‘s third ‘excretion’ •‘Comedian is innocent for now’

NEWS

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www.thenationonlineng.net

TR UTH IN DEFENCE OF FREEDOM TRUTH

VOL. 7, NO. 1917 TUESDAY, OCTOBER 18, 2011

N150.00

Fuel subsidy removal divides private sector Major oil marketers, traders are beneficiaries

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HERE appears to be a split in the Organised Private Sector (OPS) over the impending fuel subsidy removal. The OPS yesterday disowned the pro-subsidy removal industrialists who attended a retreat at the Presidential Villa, Abuja, last week. The OPS comprises Nigeria Employers Consultative Association (NECA), Manu-

WHO SAID WHAT The purported support of the OPS for the removal of fuel subsidy is not true ... the said representatives of the private sector spoke in their personal capacity ... – NECA By Yusuf Alli, Toba Agboola and Dupe Olaoye-Osinkolu

facturers Association of Nigeria (MAN), National Association of Chamber of Commerce, Industry, Mines and Agriculture (NACCIMA), National Association of Small Scale Industrialists (NASSI) and National Association of Small Medium Enterprises (NASME). Disowning the supporters of subsidy removal, NECA,

We have not taken a position. We urge government to take a deep look at the issues before taking a decision. We will make our position known before the end of the week. – NACCIMA

NACCIMA and the Lagos Chamber of Commerce and Industry (LCCI) said they were speaking for themselves. Briefing reporters in Lagos, NECA Director-General Olusegun Oshinowo said the industrialists, who claimed to represent the OPS at the October 13 and 14 presidential retreat, did not have the private sector’s authority. MAN, a key player in OPS

The financial burden of subsidy is unsustainable and untenable in our nation where critical infrastructure, human and capital development are in dire need of investment. – Proponents of removal

is expected to make its position known on the issue today. Oshinowo spoke amid the unveiling of the beneficiaries of the subsidy named as major and independent marketers, depot owners and traders. “It is important for the public to know that the OPS, comprising NECA, Manufacturers Association of Nigeria (MAN), NACCIMA, NASSI

and NASME, was neither invited nor represented at institutional capacity at the retreat. The said people attended in their personal / company capacities and were not mandated to speak on behalf of the OPS. “The purported support of the OPS for the removal of fuel subsidy is not true, as the OPS is yet to meet and take a Continued on page 4

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HE Nigerian National Petroleum Corporation (NNPC) has refuted the statement credited to Auditor-General of the Federation (AGF) Mr Samuel Orkura, accusing the corporation of not having its account audited since inception. Irked by the statement, the management of NNPC, our correspondent gathered, is planning to publish its audited accounts in some national dailies ... Business Page 11

Osaze: I’ve learnt a lesson

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IGERIAN international Osaze Odemwingie has revealed that the week building up to Sunday’s West Brom’s thrilling 2-0 derby win over Wolves has taught him to take criticism on the chin. The Baggies striker admits he let the disappointment of his below-par performance in the 2-2 draw at Sunderland ...

ASUU spoils for another strike From Gbenga Omokhunu, Abuja

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NIVERSITY teachers are spoiling for another strike over their 2001 agreement with the Federal Government. They said unless the government implements the agreement next month, they may cripple the university system again. The teachers urged parents, and especially students to hold the government responsible for whatever happens after the November 22 date agreed for the implentation of the agreement. After an emergency National Executive Council (NEC) meeting in Abuja, yesterday, the Academic Staff Union of University (ASUU) resolved to battle government over what the union described as its lack of commitment to reversing the decay in the university system. ASUU President Prof. Continued on page 4

NNPC says books audited

Sport Page 41

Mubarak’s sons worth $300m

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HE two sons of deposed Egyptian President Hosni Mubarak has £340m (£215m) in Swiss bank accounts, says Egypt’s deputy justice minister. Assem al-Gohari, who also heads the illicit Gains Authority. He said most of the funds - which are now frozen - were held by Mr Mubarak’s elder son Alaa.

•Scene of a truck that fell off the Ijora bridge in Lagos ... yesterday

PHOTO: ISAAC JIMOH AYODELE

FOREIGN Page 58

•ENERGY P15 •SPORT P24 •PROPERTY P25 •AVIATION P36 •POLITICS P37


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The Nation October 18 ,2011 by The Nation - Issuu