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My Declaration Was In ‘Good Faith’ – Saraki Replies YIAGA

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Saraki Replies YIAGA

The President of the Senate Dr Bukola Saraki has said that his declaration to run for President at the Not Too Young To Run event was in good faith and not a ploy to take advantage of the group.

Replying to a statement by YIAGA frowning at the declaration using the Not Too Young To Run platform, Saraki said that his declaration was for him a way to encourage the young aspirants of the Peoples’ Democratic Party (PDP).

According to a statement by his Special Adviser on Media and Publicity, Yusuph Olaniyonu, Saraki however admitted that the Young Too Young To Run group were unaware of the content of his speech.

The statement reads:

“It has been brought to our attention that YIAGA have issued a statement in relation to the announcement made by the President of the Senate, Dr Abubakar Bukola Saraki, whilst addressing the PDP members and aspirants of the group.

“The occasion was first in a series of Dialogues organised by the Not Too Young To Run along Party lines. The first one is for young PDP aspirants. The subsequent ones are designed for the APC and other parties.

“It is true that the Not Too Young To Run leadership had no prior knowledge of the content of the Senate President’s remarks. However, the announcement by the Senate President that he intends to throw his hat into the ring to contest for the Presidency was made in good faith to young PDP aspirants, partly as a symbolic act of encouragement.

“It was not the intent of the Senate President to put the group or its leadership in an invidious position. The Senate President appreciates the contribution of the group to the development of our democracy and will continue to work closely with young people across the country in order to make Nigeria a better place for all.”

Nigerian News

IATA Inaugurates Turbulence Aware Data Resource To Forecast Turbulence

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IATA Inaugurates Turbulence Aware Data Resource To Forecast Turbulence

The ability of airlines to forecast and avoid turbulence would now be greatly enhanced as the International Air Transport Association, IATA, has inaugurated a turbulence aware data resource.

IATA said the system would pool and share turbulence date generated by participating airlines. The global body for airlines said before now, airlines had to depend on reports and weather advisories from pilots to offset the impact of turbulence.

IATA says the result would be the first global, real-time, detailed and objective information for pilots and operation’ professionals to manage turbulence.

It is expected that airlines operating in Nigeria would participate and benefit from this new system.

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Nigerian News

Oil Price Stability Buoys Nigeria’s Budget Benchmark

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Oil Price Stability Buoys Nigeria's Budget Benchmark

Nigerian budget benchmark appears buoyed by oil price stability as a result of cuts in production levels to which OPEC members have agreed.

The benchmark of sixty dollars was eroded by sustained drops in price. The high for the year was eighty-six dollars which dropped to about fifty-eight dollars last week.

It rebounded to sixty-two dollars per barrel last week, just as the federal executive council was to hold an emergency meeting on how the price drops would affect the Nigerian budget.

Opec countries had agreed to reduce daily production by eight hundred thousand barrels, while non-OPEC members decided to reduce production by four hundred thousand barrels per day.

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Business News

CBN And MTN Plan To Settle $8b Rift Out Of Court

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CBN And MTN Plan To Settle $8b Rift Out Of Court

It seems as though the Central Bank of Nigeria and telco giant, MTN, are trying to find ways of resolving the $8 billion rift between them. One of MTN’s lawyers is quoted as saying they are making moves toward an out-of-court settlement.

Meanwhile, counsels for both parties have secured another adjournment until late January.

Another $2 billion case involving MTN and the Nigerian attorney general’s office was adjourned as well last week until early January.  This case is related to alleged back taxes owed by MTN.  The telco giant has denied it owed the taxes.

The $8 billion case was a result of a charge against MTN for allegedly violating Nigeria’s extant laws.  In August, Central Bank of Nigeria sanctioned MTN Nigeria for allegedly using irregular certificates of capital importation to transfer $8.1 billion to South Africa on behalf of its offshore investors.

MTN is being asked to return the $8.1 billion to Nigeria.

Mtn group’s Nigerian operations account for one-third of its entire African market share.

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