07/04/2014
Nigeria becomes Africa's biggest economy, with $510billion
Articlewritten by Associated Press writer, Michelle Faul. It's quite interesting. Read! Nigeria's recalculated economy is worth $510 billion, by far the biggest in Africa, officials announced Sunday using long overdue revised data that gives the West African nation continental bragging rights but does little for the 70 percent of its citizens living in poverty. The new value of Nigeria's GDP adds previously uncounted industries like telecommunications, information technology, music, airlines, burgeoning online retail outlets and Nollywood film production that didn't exist when the last GDP count was made in 1990. Then, there were 300,000 landlines. Today, Nigeria has 100 million cell phone users. The new figures also will take account of growth in agriculture and tourism that have flourished since democracy was restored in 1999, ending decades of military dictatorship. With one fell swoop, Nigeria knocked out of the ring South Africa, whose GDP of $353 billion was previously counted the biggest on the continent and which is the only African member of the G20. "Nigeria's success is a reminder that Africa is moving ahead despite its current challenges," said investment manager Kevin Daly of UK-based Aberdeen Asset Management, which invests in Africa. He pointed out that it is a Nigerian, billionaire Aliko Dangote, who is building Africa's largest privately owned oil refinery. Investors' attention will be drawn by the fact that while oil remains the biggest source of government revenue, about 80 percent, oil production is declining while Nigeria's agriculture, communications and service sectors are enjoying healthy growth. Nigeria has been Africa's biggest drawer of direct foreign investment despite myriad woes, from massive corruption and oil thefts costing the country some $20 million a day to an Islamic uprising in the northeast that has killed more than 1,200 people so far this year, to a paralytic electricity supply that keeps businesses dependent on diesel-run generators. Finance Minister Ngozi Ikonjo-Iweala told a news conference Sunday that the new data makes Nigeria the 26th largest economy in the world and raises its per capita income to $2,688, making it No. 121 in the world, up from No. 135. That is still feeble compared to South Africa's $7,336 for its population of 48 million. South Africa, bedeviled by mining strikes, violent protests over services and a lackluster performance that has kept annual growth at around 3.5 percent, still has infrastructure unrivaled on the continent, most notably a power sector that generates 10 times more electricity than Nigeria. Nigeria's revised figures will lower its much-vaunted growth rate of 7 percent but also will decrease an already low debt to GDP ratio of 21 percent, which should lower interest rates should the government want to borrow more, economists said. Ikonjo-Iweala blamed decades of military rule for the delay in repositioning Nigeria's economy, but the country is not alone. Ghana's economy jumped by 60 percent when it recalculated its goods and services production in 2012, and Kenya and Zambia are considering the same. Ikonjo-Iweala has said that Nigeria's economy needs to grow at about 10 percent to address massive poverty and youth unemployment. Government statistics say unemployment increased from 12.7 percent in 2007 to 23.9 percent in 2011; the World Bank says unemployment among young Nigerians stands at 38 percent but analysts say it is as high as 80 percent in many parts of the country. Financial analyst Bismarck Rewane called the revisions "a vanity. The Nigerian population is not better off tomorrow because of that announcement. It doesn't put more money in the bank, more food in their stomach. It changes nothing." Nigerians took to social networks to share their feelings. "So Nigeria has now supplanted South Africa as Africa's largest economy. But I've not had light (electricity) for seven days, so it means nothing to me," said one tweet. Another commented: "Nigeria is Africa's biggest economy - on paper. So technically, I'm rich in theory."
06/04/2014
Celebrity publicist, Vanessa Amadi, expecting first child
PR Guru, Vanessa Amadi-Ogbonna and her husband, Oki, are expecting their first child. The couple got married in September 2013. Big congrats to them.
04/04/2014
Prophet in police net over false prophecy
Alphonsus Ezie, a 56year old prophet with the Celestial Church of Christ Igando District, Lagos State has been arrested and remanded in prison by the police for tricking his congregation with a false prophecy, PM news reports. Prophet Ezie had on aSundayservice prophesied seeing some members of his congregation traveling to Netherland for greener pastures and coming back home successful. He asked all those interested in making the prophecy fulfilled in their lives to meet with his friend, Mr Samuel, a travel agent, to help them with their travel papers. And Mr Samuel disappeared with their money..lol. Continue 16 unsuspecting members excitedly met with Mr Samuel in a hotel in Ejigbo where they made various payments to him for their travel documents. Among those who paid for the documents were; Julius Adefisoye, N217,000; Mathew Oyedele, N125,000; Kinsley John, N120,000; James Obiakpo, N240,000, who paid for himself and fiancee; Adewumi Osisoya N70,000; Akimbami Kunle, N50,000 and Lekan Ogundepo, N50,000. Trouble started when the members waited for months without seeing Mr Samuel or the travel documents they had paid for. They alerted the Igando Police Station and the prophet was arrested alongside Mr Samuel. Both men were charged to the Ejigbo Magistrate court where they pleaded not guilty. A N100,000 bail was set for both men with two sureties in like manner and are currently in police custody pending when they fulfill their bail conditions.
31/03/2014
music:ediyor_am gonna pay
which is hiting all over the cali town aired play everyway
ediyor keep suprising us with his amazing voice
sincerly speaking he got what it take to be at the top
go for it dj's and friends.gonna pay
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29/03/2014
[Music] : DJ Jimmy Jatt - Faridah Feat. Kamar, Morell & Skales
The anthem takes you on an urban journey to the northern part of Nigeria while it creatively expresses the irresistible beauty of stunning Faridah.
With Faridah produced by Benies Music, Cool DJ Jimmy Jatt’s road to his anticipated sophomore album gets more interesting. Listen, enjoy and share on your platforms
28/03/2014
Actress Clarion Chukwurah has called on the current President of the Actors Guild of Nigeria(AGN) Ibinabo Fiberisima, to resign from office as she has been appointed into a political office by President Jonathan. Ibinabo apointed by President Jonathan on the board of the National Council for Arts and Culture (NCAC) on February 26th.
In a two-page statement she released titled,Ibinabo and the AGN visit to President GEJ: Setting The Record Straight,Clarion Chukwurah said since Ibinabo has received the Federal Government's appointment, it is expected of her to vacate office as AGN President and face her new appointment, as Onyeka Onwenu and Kanayo O Kanayo her predecessors did. Continue...
"The AGN was not established as a platform to canvass for political appointments or pursue selfish interests. Ms Onyeka Onwenu and Mr Kanayo O. Kanayo listed as examples in her address, became card carrying members of PDP and pursued the realization of PDP’s political goals to obtain their appointments. Ms Ibinabo Fiberisima should resign as AGN president for her brazen use of a body created to serve the creative interests of a group, to gain political appointment while in office.
I enjoin her to follow the respectable road of her named predecessors, by joining the PDP and testing the real value of her self-earned popularity as an actress for political appointment,” she said.She also expressed her displeasure at Ibinabo taking some actors to the Presidential Villa, an act she saw as going to literally begging for crumbs
"While it is not surprising that Ibinabo Fiberisima will display such a lack of knowledge of what advances screen actors professionally in the developed world, since she has not functioned consistently as an actor, and has less than 10 titles to her credit in a career spanning from the late 80s, it is however surprising that the established actors within her entourage watched in compliance, the denigration of the integrity of Nigerian screen actors, as she read her requests literally begging for crumbs from the president’s table,” said Chukwurah
26/03/2014
Ibadan based prophet left his wife & hasn't taken his bath in 13 years because God told him to(Pictured)
Ibadan based prophet, Wale Olagunji of Divine Seed of God Chapel Ministry revealed that he hasn't taken his bath in 13 years because it was God's instruction.He said he was also instructed to separate from his wife and claims though he doesn't have his bath,he does not smell and looks neater than those who bathe regularly...He told City People "Yes, it is 13years now to be precise. Early 200 the Lord told me to stop taking my bath, separate myself from my wife and that I should stop taking all those soft drinks and wines. And since then, diligently, I have observed all those things. Whoever God wants to use for certain purposes on earth, there is a serious price attached to that calling. So I believe that is the price I am paying. As I am talking to you now, I have not taking my bath, if you want me to show you evidence, I will show you if you doubt all I am saying; I have not taking my bath since 2001 till this moment."
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