Prudent Merkel meets unpredictable Trump amid tense ties…Read full details

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German Chancellor Angela Merkel / AFP PHOTO / TOBIAS SCHWARZ

Europe’s most powerful leader, Angela Merkel, meets for the first time next week America’s flamboyant President Donald Trump whose arrival in the White House has sent shockwaves across the Atlantic.

While former US president Barack Obama had labelled Merkel his “closest international partner”, there has been little known contact between the German leader and Trump since he took office.

Trump’s criticism of Germany over issues ranging from its record trade surplus to Merkel’s liberal refugee stance, as well as his backing for Britain to leave the European Union, have not gone unnoticed in Berlin.

A month after US Vice President Mike Pence delivered a message to Europe underscoring the importance of transatlantic ties, Tuesday’s meeting will be scrutinised for clues on whether Trump fully endorses that message.

The reserved German leader herself underlined that she is travelling to Washington not only as Germany’s leader, but also as an envoy of the EU.

“I will of course point out that for us, our country and our membership in the European Union are two sides of the same coin,” Merkel said in Brussels ahead of the visit.

The Washington meeting would also allow for “an exchange of bilateral and international topics, and transatlantic ties, as we have always stressed, are very important,” added Merkel’s spokeswoman Ulrike Demmer.

As in other similar tours, Merkel will be accompanied by an army of business leaders, but this time the delegation faces an uncertain reception as Trump preaches an “America First” policy.

Siemens boss Joe Kaeser and BMW’s Harald Krueger will be part of the group, according to news weekly Der Spiegel, and both will likely be trumpeting the thousands of jobs linked to their investments in the US.

Krueger will also be keen to persuade Trump, who has singled out BMW for hefty tariffs if it built a factory in Mexico, to reconsider the threat.

But “if the government is serious about its new tax, the chancellery has already prepared a series of retaliatory measures,” said Der Spiegel.

Juergen Hardt, the German government’s US coordinator, said Merkel will sound a clear warning against protectionism, and press Washington to keep working towards a free trade deal with the EU.

– Leader of the free world? –

The meeting will also be closely watched for the dynamics between the two leaders who appear to stand far apart on content and style.

While Merkel is a firm believer in the European Union and globalisation, Trump cheers Britain’s departure from the EU and scrapped the TPP free trade deal in his first days in office.

The two also differ on immigration policies — she slammed his ban on citizens from mainly-Muslim countries, while he criticised as “catastrophic” her liberal refugee stance that led more than a million asylum-seekers into Germany.

And while Merkel, a trained physicist, rarely makes public statements deviating from a thoroughly researched text, Trump does not hold back on announcing US policy upheavals in 140-character Twitter messages.

Merkel had already set the tone from the beginning, when in their first phone conversation, she reminded Trump of democratic values while offering cooperation.

That phone call had led some to speculate that she may have taken on the mantel of the “leader of the free world”, a title usually reserved for US presidents.

With Trump’s latest bid to temporarily close US borders to refugees and citizens from six mainly-Muslim countries, expectations will be high for Merkel to raise human rights issues.

Asked if that is on the chancellor’s list, Demmer refused to be drawn.

Washington meanwhile suggested that the talks will be focused on what both sides have in common than their differences.

A senior administration official skirted a question on Trump’s criticism of Merkel over her stance on refugees, saying “those are German government decisions”.

“The discussions that they will have on this will focus on the areas where we can cooperate,” the official said, adding that Trump will reiterate a demand already driven home by Pence for NATO allies to boost defence spending.

The US president will also be “very interested in hearing her insights on what it’s like to deal with the Russians” and Merkel’s views on resolving the Ukraine conflict, added the official.

Vía Uzomedia http://ift.tt/2lQCUQm

Nigeria plans Africa’s first sovereign green bond

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Chief executive officer of the Nigerian Stock Exchange, Oscar Onyema, discussing with Nigeria's acting president Yemi Osinbajo at Green Bonds Capital Market and Investors Conference in Lagos on February 23, 2016. PHOTO: TWITTER/NSE

Acting President, Prof. Yemi Osinbajo on Thursday said that the Federal Government was making arrangements to inaugurate the first African Sovereign Green Bond to address climate change and environmental projects.

Osinbajo said this at the Green Bonds Capital Market and Investors Conference organised by the Federal Ministry of Environment and the Debt Management Office (DMO) at the Nigerian Stock Exchange (NSE) office in Lagos.

The News Agency of Nigeria (NAN) reports that Bonds are debt instruments issued by a government or a company which represent a fixed sum of money that was borrowed.

Green Bonds are debt instruments tied to environmental projects to address climate change.

He said that the Federal Government under the Green Bonds initiative would give N20 billion under the first tranche before the end of the first quarter through the nation’s bourse.

Osinbajo, who described the initiative as a new addition to the market funding portfolio, stated that the proceeds would be used to fight climate change.

He said that climate change had led to more natural disasters, thereby impacting negatively on food, water and energy supply.

The acting President said that the initiative would also provide an opportunity to deepen the capital market as well as tackle poverty.

According to Osinbajo, the bond issuance will support the Federal Government’s shift to non-oil base assets for project financing for economic growth and development.

He said that the proceeds of the bonds would be used for environmental projects such as renewable energy micro-utilities in three communities estimated at N10 billion. Besides, he said it would as well provide an average of 33KW of power through solar technology.

Osinbajo noted that power had posed a major challenge in the nation’s universities, adding that 37 federal universities and seven teaching hospitals would benefit from the Energising Education Programme (EEP).

He stated that the EEP project estimated to cost 213 million dollars would provide119 megawatts of power in 37 universities using off-grid solar technology.

According to him, Nigerians should embrace the bond initiative, the first in Africa to benefit from its higher yields.

Osinbajo, who commended the ministries of Finance and Environment for the foresight in putting the bonds together, said the initiative would attract more private sector participation in the market.

Also speaking, Mrs Amina Mohammed, Minister of Environment, said that the project was in line with the Federal Government’s sustainable development initiative born in September 2016.

Mohammed said the government, under its recovery growth plan initiative, identified Green Bonds as a vehicle that could be used to drive the economy in terms of environmental projects funding.

She said that the bonds if properly harnessed would create new jobs, open new investment avenues for the country as well as ensure creative thinking.

Mohammed stated that the proceeds would be invested in critical social-economic and environmental sectors that would impact on the lives of common Nigerians.

She said that the domestic investors needed to rally round the issuance to ensure its success in order to support government diversification agenda. The minister said that the bond’s proceeds would be managed by DMO.

Mr Babatunde Fashola, Minister of Power, Works and Housing, said that the initiative was born based on extensive consultation.

Fashola said that the DMO would determine the amount that would be used for all projects earmarked under the Green Bonds.

He said that Nigeria was working toward achieving 30 per cent in renewable energy by 2030, adding that Solar Unit Distribution Programme (SUDIP) project was estimated to cost N1.3 billion.

According to him, the units in aggregate from the project will provide up to 12mws of power, creating 6,000 jobs and impacting at least 60,000 persons.

Vía The Guardian Nigeria http://ift.tt/2lJYkx8

Another federal lawmaker dumps PDP for APC

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Speaker of the House of Representatives, Yakubu Dogara shakes hand with Emmanuel Ukoette who formally defected from PDP to APC on February 22, 2016. PHOTO: TWITTER/HOUSE OF REPS

A Peoples Democratic Party (PDP) member in the House of Representatives, Emmanuel Ukoette, representing Ukanafun/Oruk Anam Federal Constituency of Akwa Ibom on Wednesday, defected to the All Progressives Congress (APC).

He is the second member of the National Assembly from the state to switch loyalty to the APC. In January, Senator Nelson Effiong representing Akwa Ibom South senatorial district, also defected to the APC.

In a letter to the Speaker, Yakubu Dogara, read on the floor of the House, Ukoette notified the House of his defection. He said he was leaving the PDP because of the inability of factions within the party to reconcile their differences.

“It is clear to Nigerians that the PDP is factionalised and therefore, baring members, especially I from engaging my constituents well enough.

“The factions within the party are led by the National Chairman of the Party, Sen. Ali Modu Sheriff and Chairman of the PDP National Caretaker Committee, Sen. Ahmed Makarfi.

“The string of legal battles trailing the leadership crisis might end in fiasco and that is not the ideals of the founding fathers and, therefore, my resolve to move to the APC,’’ he said.

Speaking on point of order, the Minority Leader, Rep. Leo Ogor (PDP- Delta), urged the Speaker to declare Ukoette’s seat vacant. Ogor said Ukoette’s defection move would be challenged in court, adding that democracy was not about jumping from one political party to another.

“My Speaker, this defection will be challenged in the court because it is not true that the PDP is factionalised.

“I urge you to declare Ukoette’s seat vacant, so that he can go back for a fresh election and see if he will win an election on his new platform,’’ he said.

However, the Majority Leader of the House, Rep. Femi Gbajabiamela (APC-Lagos), urged to accept the situation with self-control.

“We are in a season of alternative path. One day, we have a swelling of the ranks of the opposition, the other day; we have a depletion of the ranks.

“I understand the feeling of the Minority Leader, but I believe that he should accept the loss because it appears more PDP members will join the APC,’’ Gbajabiamila said.

Earlier, Speaker Dogara swore in a new member, Rep. Johnson Oghuma (APC) to replace Phillip Shuaibu, who was elected as the Edo Deputy Governor on Sept. 28, 2016.

Oghuma represents Etsako Federal Constituency, Edo.

Vía The Guardian Nigeria http://ift.tt/2lLHtKJ

Swedish deputy PM mocks Trump with all-female photo

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Sweden’s deputy prime minister, Isabella Lovin, on Friday published a photograph of herself signing a climate bill surrounded by her closest female colleagues, mocking a photo of US President Donald Trump.

In the photo, Lovin, who also serves as environment and development aid minister, is seated at a desk as she signs the bill under the watchful eye of seven female colleagues, including one who is visibly pregnant.

The shot parodies a photo taken of Donald Trump on January 23 in the White House, as he signs a decree barring US federal funding for foreign NGOs that support abortion, as his all-male colleagues look on.

Sweden, a pioneer in women’s rights, is known for its high level of women in the workplace, including in parliament and government.

“We are a feminist government, which shows in this photo. Ultimately it is up to the observer to interpret the photo,” the Swedish minister wrote in a comment to AFP.

The climate bill she is signing in the photo aims to make Sweden carbon neutral by 2045 and “marks a new era in Swedish climate politics,” Lovin wrote.

“There is a global demand for climate leadership. I want to show that Sweden is ready to take that leadership,” she added.

The Trump photo elicited an avalanche of comments, many of them remarking that no woman was present for a decision concerning women.

Vía The Guardian Nigeria http://ift.tt/2kad5YW

Banky W to spice up NiPRO’s ‘Networking for Love’ event

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Banky W will be a star guest at the pre-Valentine event

The need for young professionals, executives and entrepreneur to network and how this can be done will be in focus at the Nigerian Professionals pre-Valentine event aptly titled ‘Networking for Love’.

Nigerian Professionals (NiPRO) Network, is a progressive global network of Nigerian young professionals, executives and entrepreneurs. NiPRO, since 2002, has been hosting business and social networking events in the US, UK and now in Nigeria.

The after-work event which is slated for February 9 at the Soul Lounge event to come make a business will afford young professionals to make ” business, social or even a love connection,” NiPRO said in a statement.

“it will give busy professionals an opportunity to meet, learn and connect with other professionals from various fields.”

The 2017 Networking for Success Series will focus on sharing the basic principles of networking amidst fun and cocktails. NiPRO will host four of these events, one for each quarter.

Special guest appearances include Cupid and Banky W who will answer questions on business, networking, love and also participate in speed networking icebreaker activities.

NiPRO said two persons stand a chance of winning fine dining experience at the exclusive 1415 Restaurant at Eko Hotel on Valentine’s Day Feb 14th, 2017.

Attendance is strictly by RSVP and dress code at NiPRO events is business casual and attendees are advised to register and dress accordingly.

To attend, RSVP to rsvp@niproevents.com or call 07033526620.

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Osinabjo meets National Assembly leadership over 2017 budget (Read full details)

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Vice President Yemi Osinbajo

Acting President Yemi Osinbajo on Tuesday met with the leadership of the National Assembly (NASS) in continuation of consultations between the executive and legislative arms of government over the 2017 Budget.

The meeting, held behind closed doors in the Presidential Villa, Abuja on Tuesday, had the President of the Senate, Sen. Bukola Saraki and Speaker of the House of Representatives Yakubu Dogara and some cabinet ministers in attendance.

Addressing State House correspondents after the meeting, the Senate President said they discussed issues relating to the nation’s economy, including the 2017 budget proposal before the NASS.

Saraki, who described the meeting as fruitful, revealed that they were updated on the proposed government’s economic recovery plans, the road show for the sales of bonds and the 2017 budget.

According to him, the National Assembly has so far not encountered any problems with the 2017 budget.

“We are meeting on the economy and the budget; myself, the Vice-President and the Speaker, minister of budget and minister of finance.

“We are aware that the economic team will soon be going on a roadshow and just to brief us and let us know the issues and just carry us along.

“We have just started the defence so there are no issues; these are just consultations,’’ he said.

President Muhammadu Buhari, on Dec. 14, 2016, presented a budget of N7.30 trillion for 2017 before a joint session of the National Assembly.

The president explained that N2.24 trillion, representing 30.7 percent of the budget, would be committed to capital expenditure aimed at pulling the economy out of recession as quickly as possible.

The capital expenditure was increased from N1.8 trillion in 2016 to N2.24 trillion in 2017 while N2.98 trillion was announced as recurrent expenditure for the 2017 fiscal year.

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