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BUHARI PLEADS WITH THE COUNTRY TO ‘BE PATIENT’

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The President at a forum with the Council of Abuja Imams requested that religious leaders throughout the country pacify the people as the leadership was working at various levels to solve the problems of poverty, unemployment and insecurity in the country.

The President’s statement comes on the heels of the economic recession in the country caused by the slump in oil prices, Nigeria’s major source of revenue. President Muhammadu Buhari informed that the government was well aware of the challenges of life facing the average man on the street and appealed to religious leaders to carry the message of hope to their people. The President informed that the government would prioritize agriculture so as create jobs for unemployed citizens.

The President stated that there were ongoing plans to improve electricity and bring in foreign investors to the country as China had indicated interest in developing the proposed Mambila and other hydro-electric power projects in the country.

On the war against corruption and Boko Haram, the President said there was a resolve to end corruption and terror in the country, he informed that the government was not interested in embarrassing anyone but merely in instituting justice and fairness for all.

 

MTN PLOTS MOVE TO BE LISTED ON NSE

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The South African Multinational MTN is on the verge of becoming Africa biggest mobile operator as it commenced plans to become listed on the Nigerian Stock Exchange (NSE) with the appointment of advisors preparatory to its listing on the Nigeria Stock Exchange.

The decision made by The MTN Group comes a result of the deal struck with the Federal Government in the earlier part of the year as part payment for the one billion dollar fine levied by FG on the group for missing the deadline to disconnect unregistered subscribers. The MTN Group Limited appointed Citigroup Inc. and Standard Bank Group Limited as advisers to list the company on the NSE stating that it was targeting the year 2017 to list its shares. This was announced in a statement by the group

“MTN group is pleased to announce that its board of directors has resolved to proceed with preparations for a listing of MTN Nigeria on the NSE as soon as commercially and legally possible and has established a management task team with the responsibility to guide the company towards a listing. At present, MTN Nigeria is targeting that the listing takes place during 2017 subject to suitable market conditions.”

The development has been met with elation as the Speaker of the House of Representative Yakabu Dogara had earlier called for the Telecommunication’s company in the country to be listed on the NSE. Speaking during a visit to the NSE in Lagos he stated that the house may consider passing a law that will compel the companies to list certain percentage of their value on the stocks as a means of securing value-added partnership aimed at wealth creation and re-distribution   .

 

Written by Kike Olowu

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