Sanusi, Okonjo-Iweala differ over rising national debt

THERE is apparently major disagreement between the managers of the country’s monetary and fiscal policies over rising debt profile.

While the Central Bank of Nigeria (CBN) Governor, Lamido Sanusi, warned of the danger of accumulating more debts for future generations, the Coordinating Minister of the Economy, Dr. Ngozi Okonjo-Iweala, said there was no cause for alarm as the current loans are not from the Paris Club, which comes with purely commercial interest rates but are highly concessional loans with long periods of maturity.

According to her, the country was doing well in terms of its debt to Gross Domestic Product (GDP) ratio, now at 17 per cent, but warned that the country should not go beyond the 25-30 per cent sealing it had set for itself.

On the other hand, the Director General, Debt Management Office (DMO), Dr Abraham Nwankwo, said Nigeria will continue to borrow, stressing that every country in the world borrows; even the most financially prudent countries like Germany, United States and others borrow.

He even confirmed that the Federal Government would still borrow more money in 2013.

Speaking at the 13th session of the Honorary International Investments Council (HIIC) meeting in London recently, Sanusi urged the Federal Government not to allow the present and unborn generations inherit the heavy burden of foreign debts cautioning that Nigeria, currently under the suppressing weight of the heavy burden of foreign debts is in great danger.

“We are borrowing more money today at a higher interest rate while leaving the heavy debt burden for our children and grandchildren. For example, if you receive your salary and everyday the money is not enough, you have two options to adjust yourself. Either check your expenditure or check your wages,” he counselled.

He urged the ruling class and the older generations to set good example and educate the coming generations for a better and secured future, stating that such example should be set by not accumulating debt for future generations to inherit.

According to DMO, the country’s external debt profile as of September 30, 2012 was $6.2 billion, while domestic debt was standing at N6.3trillion. It also stated that the debt sustainability indicators showed that the country’s debt stock was sustainable.

It also said the country’s total debt profile might hit $25 billion by 2015, adding that the debt gross domestic product (GDP) ratio was 18.65 per cent, as against global ratio of 40 per cent.

The DMO Director General further said: “for 2012, Nigeria’s external debt is projected at $9,021.53 billion; 2013, $12,165.10 billion; 2014, $14,585 billion and 2015, $16,765 billion, adding that “a breakdown for domestic debt is projected at, for 2012, $6,483.81 billion; 2013, $7,125.93 billion; 2014, $7,792.41 billion and 2015, $8, 4441.86 billion.”

Resilience Key To Feeling Good In Old Age

Despite worsening physical health and mental abilities, adults say they feel better about how they’ve aged as they get older, a new study finds.

Researchers surveyed about 1,000 adults ages 50 to 99 living in San Diego. Participants were interviewed over the phone to assess their physical and mental health. They were also asked to rate, on a scale of 1 to 10, how successfully they thought they had aged, with a rating of 10 being the most successful.

 The average rating was 8.2, and older adults were more likely to rate their aging success more highly than those in middle age. However, older age was linked with worse physical and cognitive functioning.

A person’s levels of resilience and depression seemed to be just as important as physical health in terms of the effect on successful aging, the researchers said. For instance, people with poor physical health but high levels of resilience rated themselves similarly to those who were physically healthier, but had lower resilience.

The results are in line with earlier research showing that well-being increases with age.

The findings suggest “increasing resilience and reducing depression might have effects on successful aging, as strong as the effects of reducing physical disability,” the researchers write in the Dec. 7 issue of the American Journal of Psychiatry. “This ending points to an important role for psychiatry in enhancing successful aging in older adults, even in those with physical disabilities,” they wrote.

The researchers gathered information at just one point in time, so studies that follow the same people over time are needed to confirm the results.

The study did not include people in nursing homes, and it’s possible that people who would have given themselves lower ratings were not included in the study due to death or institutionalization, the researchers said. However, the researchers noted the study participants were also not unusually healthy in any particular way -- aging was still linked with worse physical health and mental abilities. Pass it on: Older adults are more likely to say they’ve aged successfully than adults in middle age.

Exercise Tips To Energise Your Brain
If you’re over 40, you may have noticed that you don’t remember things as well as you used to. You might walk into a room and forget why, or you might be hazy about past events or the time of tomorrow’s dentist appointment.

A little forgetfulness now and then isn’t something to be alarmed about. Lots of times it happens because you’re stressed or overworked. I know I have trouble keeping things straight when I’m frazzled.

But forgetfulness can sure be inconvenient. And if you’re like me, you worry about it worsening. That’s why I try to keep my mind active. Instead of turning on the television, I’ll do a crossword puzzle. When I’m in for a long wait at the doctor’s office (or salon or auto mechanic’s shop), I’ll pull out my e-reader and read a chapter or two of a good book. I believe these things keep my brain in good shape. But a new study indicates that there’s something even better than flexing my brain’s “muscle.”

In a study in researchers from the Centre for Development of Advanced Medicine for Dementia in Japan found that people who were more physically active during the day were less likely to experience brain shrinkage in their frontal lobe. The frontal lobe plays a role in problem solving, personality, judgment and memory.

So now it seems if I want to keep my wits about me, I should exercise my body as well as my brain. While I do exercise regularly, this study got me thinking about what I can do to add extra physical activity into my day. Here are some of the simple strategies I’ve made a part of my everyday life.

. Always take the stairs. It’s tempting to use that escalator or hop in the elevator. However, that would be a missed opportunity to get some blood pumping to the brain.

. Park as far away as possible. Most of us are in the habit of finding the closest possible parking spot at work, the grocery store or the mall. When you get a prime spot, you feel as though you’ve won the lottery, but really all you’ve won is the chance to get a little less exercise — which is not a good thing.

. Plan to be active. Take the dog for a walk at the same time every day and your four-legged friend will eventually hold you to your commitment. You can also schedule regular walks with friends. The opportunity to have a great conversation with a pal may be just the motivation you need to stick to a routine.

Firecrackers wreak havoc in Lagos on Boxing day.

THERE was pandemonium on Lagos Island early  Wednesday  morning as a warehouse went up in flames.

The store, which was under one of the affected buildings, was filled with fire crackers and that the inferno from the warehouse spread to many neighbouring buildings.

Only one person had, as of 4.00 p.m., been officially  confirmed dead with rescue operation still ongoing.

About  12  people were, however reported killed, according to residents of the area. 30 people were also reported injured.

No fewer than 10 buildings got burnt and later collapsed from the effect of the explosion. There were also unconfirmed reports that people were still trapped in the affected buildings.

There were also strong indications that the casualty figure may eventually rise as residents have raised the  alarm of missing friends and relatives.

The fire incident created a thick smoke, which enveloped the  heavily populated Jankara community, with smell of expended fire crackers also  filling the air.

The incident occurred around 9.00 a.m. at Okoya  Ojo Giwa Street in Oroyinyin, Jankara area of Lagos Island.

The Nigerian Tribune gathered that many residents of the Island had thought that the continual explosion that heralded the inferno was a bomb explosion, leading to many of them running for safety.

A resident of the area, who identified herself as Blessing narrated to the Nigerian Tribune that “the fire started around 9.00 a.m. in the morning. Many of us thought that it was Boko Haram.” 

 

The resident said that “we just heard a loud explosion and before we could do anything, the sound continued and an explosion occured from the store and it began to spread to nearby buildings.”

Another resident, who identified himself simply as George stated that “the effect of the explosion had many of the buildings in the area  seriously vibrating.

One Alhaji Ibraheem, who also spoke with Nigerian Tribune also claimed that about 12 people had died, “even before fire fighters and other emergency officials arrived the scene.”

He added that residents of the area had, immediately after the explosion, mobilised themselves and rescued some injured people who were rushed to hospitals around the area.

Officials of the Lagos State Emergency Management Agency (LASEMA), National Emergency Management Authority (NEMA),  Lagos State Fire Service, Nigeria  Police,  Nigerian Security and Civil Defence Corps (NSCDC) and Red Cross Society of Nigeria had, immediately after the incident, commenced rescue operation.

An official of Red Cross Society, Nicholas Adesila, informed newsmen that over 30 injured residents of the burnt buildings had been treated.

Ibraheem Farinloye, the spokesperson for NEMA, South-West,  later confirmed the death and the recovery of the body of one person.

Nelson Mandela discharged from hospital in South Africa

FORMER South African president, Nelson Mandela, has been discharged from hospital, the South African presidency says.

Mr Mandela will continue to receive treatment at his home in Johannesburg until he has fully recovered, according to a statement from President Jacob Zuma's office.

Mr Mandela, 94, was admitted to hospital 18 days ago.
He was treated for a lung infection and gallstones.
His wife, Graca Machel, and President Zuma visited him on Christmas Day and said he was in good spirits.
Afterwards, Mr Zuma said doctors were happy with the progress Mr Mandela had made.

In his statement on Sunday, Mr Zuma thanked South Africans for the messages of good wishes they had sent.
"We request a continuation of the privacy consideration in order to allow for the best possible conditions for full recovery," the presidency statement said.

The latest stay in hospital has been Mr Mandela's longest since leaving prison in 1990.
His grandson, Mandla, said Mr Mandela's absence on Christmas Day had "greatly saddened" the family, adding: "We didn't anticipate that he would be away for so long."

Mr Mandela served as South Africa's first black president from 1994 to 1999 and is regarded by many as the father of the nation.
His health has been a cause of concern for many years.
He first contracted tuberculosis in the 1980s while detained in Robben Island prison.

He has been admitted to hospital on three occasions in the past two years.

Mr Mandela lives in Qunu, a small rural village in Eastern Cape province, where he says he spent the happiest days of his childhood.
He retired from public life in 2004 and has been rarely seen in public since.

The Christmas Talent Hunt

Some of the Youths Playing Musical Instruments at the Event

Wife of the former Lagos State Governor, Senator Oluremi Tinubu, last Wednesday organised a talent hunt for the youths in Lagos under Musical Youth Fiesta Initiative to encourage them not only to develop the innate talents in them but to also learn to live peacefully with one another particularly during this festive period.

They gathered for one mission.  It was for a talent discovery and cordial living. And so the theme, ‘Dare to be like Joseph’, was chosen for this year’s edition, which happens to be second in the series.

The fiesta, a yuletide treat for youths between the ages of 7 and 21, conceived as an event of soul-stirring musical performances for youths and driven by them in the spirit of the season, was an initiative of the wife of the former Lagos State Governor, Senator Oluremi Tinubu.

Tinubu who also doubles as the Chairman, Board of Trustee, Musical Youth Fiesta Initiative (MYFI), said music and the message of Christ was the main focus of the initiative.

“Our main message is that we should not discriminate because when we get to heaven there is no white or black, Jew or Greek nor Catholic or Pentecostal, we are all one and so we better start early to live with one another. We are not a church group but this is just evangelising to the youths to love each other no matter what faith they practice. That is the message,” she said.

The event which held last Wednesday at the Expo Centre, Eko Hotels and Suits, Victoria Island, Lagos was the second in the series after the 2011 inaugural edition under the theme, ‘One Church’.

Speaking on the outcome of the second edition of the event, Tinubu said, “Though we started relatively late, still we had a large turnout of people but we were very strict about entry and I think people should realise that if they want to come in, you would want a gift pack and we have only made provision for those who registered.  Admission was free, you don’t pay anything and you even get lots of gifts and even the church groups that came were given honorariums to build their choirs and to get their choirs and music ministry stronger and that is what we are trying to do.  I think the children have enjoyed themselves. So we thank God for what He is doing and we pray that He continues to give us the grace to go on. I am not a minister, I just created a platform for them, and so it is for them and by them.”

On her anticipation, she said, “We have registered now but the first time we did it, we were not registered. We tried  it out the first time and after that we had people donating to the programme. So we decided to register it as an initiative and so by next year we hope to plan bigger than what we had this year. We are on the right side and everything is working fine.”

Tinubu who said the event was deliberately planned for Christmas, noted, “Christ is the reason why we are all Christians because the early Christians we are told acted Christ-like, so Christ is the reason for the season and so we shouldn’t lose focus of that.  It’s about bringing the youths together for them to sing about Christ and edify the name of Christ and that is what they have done here today.

She reiterated that, “the musical event is not a competition, noting however that performance is opened to church groups, choirs and even solo acts, sponsored by their churches.”

“Christ is the reason for Christmas. He is the Prince of Peace and so we should make sure that we do whatever it takes to learn to live in a peaceful co-existence. So we should learn to love our neighbours, to be tolerance and patient. These are very tough time but if we are patient enough and try to preach the gospel of tolerance, we would be able to live in a peaceful environment.”

Speaking further, she said, “We need peaceful co-existence in this nation right now.  When we look at what is going on in the nation today, we all live in one form of fear or the other. We don’t know what tomorrow will bring. Some people don’t even take the aircraft any more and even the roads are not good. But we are keeping fate and we are not afraid because Christ said he has not giving us the spirit of fear, but of love, of power and of a sound mind. So we are not afraid. We are asking the youth not to be afraid or misled and that wherever God has called them, they, they should do the best there to uphold our nation. So we have to learn to do the right thing for the love of our country.”

On what inspired her to go into the project in the first place, Tinubu said, “Music! I love music! I was at a function at Mountain of fire Ministry and I saw these very talented young people on the guitar that took me back with their music to the 60s and 70s. Then I thought, what is going on? I was so inspired”, she recalled.

She therefore that all she had done was to give them a platform where they could feel very special, adding, “you can see that it is not just a church environment; they are singing to the world, so I think that is great.

“My background is teaching and I know that you don’t have to break a child’s neck to get them to become who they are created to be. You can see that the boy that gave us the theme song, ‘One Church’, went on to record an album on his own. So anybody that is good should go on to do things that suits him. We are not here to direct them to go to one church or the other, but we can only advise them to go to a Bible believing church. All what we are doing is evangelizing the youths to stay the course, do the right thing and to live as good Christians”

Not less than 500 youths and their chaperons graced this year’s event, which was free for as many who obtained wristbands and meal tickets at the MYFI Yaba, Lagos office. MYFI 2012 got over nine entries, with Akingbala Michael Oluseye, who composed the theme song for MYFI’s inaugural edition and also released an album titled, ‘All to Jesus’, entertaining guests at this year’s event. 

Journalist 

Mary Ekah

Breaking News: POPULAR ACTOR OTOLO DEAD!!!

If report reaching us is anything to go by, the popular actor, Otolo may be no more. We were informed by a reliable source that the comic actor gave up the ghost yesterday.

 All effort to call Otolo has been futile. Most of the Nollywood stakeholders we tried to question about the situation could not give any concrete answer as they seem not to be informed about it.

Photo news: Akwa-Ibom Children in Ibiono Ibom Welfare Development Association Lagos (IWADA 2012)

IWADA LAGOS 2012, @ The end of the year part and lunching of the Almanac, Magazines and Bulletin 2012.     

 

 The son of Akwa-Ibom who wrote the Ibiono Ibiom Anthem on stand to lead in singing it.

 The Chairman of the Occassion (IWADA Lagos 2012)

 The Akwa-ibom cultral group in action for the opening of part

 Mc- Uwem Ankak facing the High table.

 Ibiono Ibom Women Wings

Senator Ita Enang during his speach and lunching of the magazine

Children, Friends, and Well-wishers of the Ibiono Ibom Associations

 also members of the high table

  also members of the high table......

In the history of akwa-ibom state,  the local government surrounding the great state specifically  Ibiono-Ibiom Local Government has being able to remind  most of the indigene of akwa-ibom on every positive reason why we should all come together  under one umbrella to make more sold soil of our land strong and firm.

Working in knowledge, wisdom and love to erase the tag name of akwa-ibom people known to be as a house  girl, boy or liberate so far in the mind set of people in Nigeria’.

The Ibiono Ibom Welfare Development Association (IWADA) lagos, celebrated their end of the year party with the lunching of the Senator Ita Enang’s Historical Magazine and the Ibiono Ibom Bulletin 2012.

In the gathering of this event there were lots of Akwa-ibom Political Members of Nigeria, Grand-fathers, Children, Friends and Well-wishers of the Ibiono-Ibom Welfare Association Development.

The event took place on the 24^th of November 2012 at about 2pm in the venue of the Country club of Lagos, Nigeria. It was an avenue of expressing joy and sharing of love among each other.

During the introduction of the Senator Ita Enang’s  Magazines, He emphasis on the reason why we should work hard to give every support morally, academically, technical and others good training to our future  leaders. And also the president of IWADA Enger. Anthony Udoekong makes a remarkable speech on the lunching of Ibiono Ibom Bulletin 2012.  

Lots of award was also presented to dignitaries of the day.

In one voice we stand!!!!

 

 Award to

 Senator Ita Enang’s recieving award

Hon. Ime Okon receiving award(House of Assemble)

 Ex-president Glory (recieved award)

Unvailing of the Almanac and the IWADA Bulletin 2012.
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