The Federal Government has proposed to spend N5.546 billion on the nation’s sport sector in the year 2014. Confederation of African Football, Gala event will be held in Lagos, Nigeria on the 9th of January 2014.


Nigeria had an amazing year in football in 2013, first won the African Cup of Nation at the beginning of the year in South Africa, participated in the Confederation tournament, qualified for the World cup in Brazil 2014, won the FIFA under 17 World Cup, ended 2103 by retaing

COPA Lagos as Sand beach Champions.

2014 FIFA World Cup



12 June – This big one. At 17.00 local time in Sao Paulo, host nation Brazil get the 2014 FIFA World Cup up and running when they take on Croatia. 13 July – The eyes of the planet will be on the Maracana where, from 16.00 local time, the final of the 20th World Cup will take place.

The XX Commonwealth Games 23 July — 3 August 2014




Governor of Central Bank of Nigeria (CBN), Mallam Lamido Sanusi will proceed on retirement leave effective 1st April 2014, two months to the end of his tenure. President Jonathan to nominate Sansui’s successor in April 2014. The Governor of Central Bank of Nigeria (CBN) list the bank’s priorities for 2014 to include price stability, financial stability, financial inclusion and economic growth.

Sanusi announced the priorities at the close of the Bankers Committee’s 5th annual retreat in Calabar, Southern Nigeria.

The Committee, which the CBN boss chairs, is the largest gathering of all the Chief Executive Officers of commercial banks in the country.  “Modernisation of the financial services industry infrastructure and payment system is  critical to reducing the cost of services to the banking public. We will continue to explore and  develop areas of collaboration in shared services and infrastructure to reduce the operating cost structure of the industry,” the CBN Governor was quoted as saying.

The Central Bank of Nigeria, CBN, has said that with commitment to macroeconomic and financial system stability, Nigeria was likely to evolve as a preferred destination of choice for investments in 2014. Deputy Governor of the CBN, Dr. Kingsley Moghalu stated this while delivering a keynote address at the CBO Capital Annual Investors conference in Lagos.

Speaking on “the outlook for the Nigerian economy in 2014,” Moghalu said that the  prospects for the financial sector was bright. According to him, “given the steady growth achieved in 2013, the economy is expected to
grow strongly driven by high oil prices and robust economic indices. Financial inclusion,

access to finance by the informal sector, is also expected to advance in 2014 while the power sector reforms, which will lead to reduction in the cost of doing business, will also lead to better economic opportunities and creation of more jobs in the economy.”


World Economic Forum on Africa Abuja, Nigeria, 7 – 9 May 2014


As the foremost gathering on the continent, the 24th World Economic Forum on Africa will bring together regional and global leaders to discuss innovative structural reforms and investments that can sustain the continent’s growth while creating jobs and prosperity for all its citizens.
“For Africa to remain relevant, we need to adequately educate our people, as it is through education that we can unlock the potential of our youth to enable Africa to compete globally, and create jobs in the new knowledge economy.”– H.E. Dr Goodluck Ebele Jonathan, President of Nigeria

Nigeria saw a major political shake-up in 2013 with the opposition coming together and governors and parliament members defecting in droves from the ruling party.  Analysts see serious challenges ahead for President Goodluck Jonathan and his party this year as the country gears up for presidential elections in 2015.
“It was supposed to be a new platform that would bring hope to Nigeria by challenging all that we say was wrong with the PDP.  Yet this same party is extending its hand of fellowship, moving from one part of the country to the next, bringing these same bad guys, these same discredited politicians, these same thieves, whatever title you want to use for them, [they] are the same persons they are bringing into the APC.
“These are the same old stock who will never change,” said head of the political science department at the Delta State College of Education, Isitoah Ozoemene”
2013 didn’t exactly end on a high note.  In December, former president Olusegun Obasanjo, denounced him publicly in an 18-page open letter that ripped apart Jonathan’s performance in office and told him not to run in 2015.

The presidency hit back saying that letter was irresponsible, untrue and aimed at fueling defections to the opposition.

It is impossible to say whether it’s too late for the PDP to turn things around and reconcile with its prodigal members before 2015, but analysts say elections up ahead are going to be interesting and could transform Nigeria’s political landscape
Independent National Electoral Commission announced that the 2015 general election will take place either in January or February 2015.
Chairman of INEC, Prof.  Attahiru Jega, announced the planned change of date for the general election at a two-day international workshop on “Ethics and Elections: Challenges and Institutional Responses.” organised by the Friedrich Ebert Stiftung Foundation at the Ibeto Hotels, Abuja.
President Goodluck Jonathan’s 2014 New Year message: Federal Government would step up the fight against corruption in 2014


“Prosecution of all those involved in robbing our retired people will continue. The Petroleum Subsidy Scheme is also now being operated under new strict guidelines to tackle previous leakages in the scheme and prevent fraud”

Governorship elections in Ekiti and Osun States


Although the November 16 governorship election in Anambra State somewhat provided the nation’s two biggest and rival parties, APC and PDP to test their might. The real test, Nigeria’s political watchers believe, will come to play in Ekiti and Osun States where governorship polls are billed to hold in 2014. The reason is simple: Unlike in Anambra where the All Progressives Grand Alliance, APGA, is in power, both Ekiti and Osun states in the South West political zone are run by the APC, which will desire to keep them away from the PDP. The latter ruled both states at some point.
Even so, the internal politics that will play out in the APC in both states ahead of the elections is also something to watch. For now, the party’s body language indicates that it desires to allow the incumbents in the states, Kayode Fayemi and Rauf Aregbesola, respectively, to have another shot at the gubernatorial seats. This certainly has not gone down well with others who want to try their luck.
For instance, in Ekiti, Mr. Fayemi’s fiercest challenger, Opeyemi Bamidele, has dumped the APC for the Labour Party, LP, to actualize his ambition. It is not clear who the PDP, which ruled the state between 2003 and 2009 will present as its governorship candidate.
Major aspirants on the PDP platform are a former governor, Ayo Fayose, and a serving minister, Caleb Olubolade. The PDP is already having its fair share of the ambition-related crisis that is expected to worsen as the election approaches.
National Dialogue

The proposed national dialogue, holds in February 2014 .The Conference Committee headed by Femi Okunroumu, which was set up in October to work out modalities has since submitted its report to the President.
However, criticisms are still trailing the planned national talks, as the APC has rejected it completely. Mr. Jonathan’s plan to turn in the decisions of the conference to the National Assembly has also generated heat. But what is fuelling more criticisms is the suspicion that it will be used to prolong the president’s tenure. The APC is believed to have dissociated itself from the proposed dialogue for this reason. Some governors, including those of the PDP have also reportedly kicked against the event.
Ministerial appointments

The composition of the federal cabinet might play a critical role in the nation’s political event in 2014. Already, no fewer than seven ministries are without substantive ministers. Mr. Jonathan in his first major cabinet shake-up fired nine ministers in September 2013. Those affected were Ruqayyatu Rufai (Education); Zainab Kunchi (Power, state); Olugbenga Ashiru (Foreign Affairs); Ama Pepple (Lands and Housing); Shamsudeen Usman (National Planning); Ita Okon (Science and Technology); Hadiza Mailafia (Environment); Buka Tijani (Agriculture, state) and Olusola Obada (Defence, state).
Among the names being bandied in the media is Bolaji Abdullahi, the Sports Minister, who is
a nominee of Bukola Saraki, a senator and ex- leader of PDP in Kwara. Mr. Saraki and his followers, including the Kwara governor, have since joined the APC. Another name being mentioned is Akinwunmi Adeshina, the Agriculture minister, who is believed to have been nominated by Mr. Obasanjo. Both ministers are, however, two of the few who have been widely commended for Nigeria’s achievements in their sectors during their tenure; a factor that could work in their favour.
Ministers who could be let go to pursue their governorship ambitions in their states are Caleb Olukolade (Police Affairs) from Ekiti State, Labaran Maku (Information) from Nasarawa; and Bala Mohammed (FCT, Abuja) from Bauchi.
Oil theft

According to Guardian UK, £1bn a month: the spiralling cost of oil theft in Nigeria, It’s a crime with international repercussions, and second only to the drugs trade for the money it earns.
The flames roared 20 metres above the Niger delta swamp for 48 hours; 6,000 barrels of crude oil spilled into the creeks and waterways around the village of Bodo and several people died. But although the Nigerian army and navy were stationed just 100 metres from the site of the massive explosion, no one knows – or will say – what really happened to Nigeria’s most important oil pipeline around 2am on 19 June 2013.
“We are not aware of any direct involvement [in the Bodo explosion] but we would take legal action if anything was discovered,” adds a spokesman for the company in Port Harcourt.
“One has to understand there is this accusation that the oil industry employees are behind this, but there are thousands of people who have the skills who may have been working with the industry over the years. These people are outside and some of them may be for hire. There is a sophisticated organisation, clearly it is not just local. There has to be a wide network,” says Philip Mshelbila, head of Shell communications in Lagos.
The Bodo explosion is significant because it shows how oil theft in Nigeria has reached an industrial scale
According to President Goodluck Jonathan, 300,000-400,000 barrels of oil per day, or more than 10% of all Nigeria’s production, is being lost at a cost to the state and oil companies of around £1bn a month – more than is spent on education and the health of the nation’s 168 million people. Not only is Nigerian oil theft helping to keep the world price of oil high, it is causing corruption and social disorder, says the president.
“The figures are huge. [Oil theft]could destabilise Nigeria. The business is worth billions of dollars a year. It is on an industrial scale, and involves commodity traders, international [criminals] and a whole network of people. There are some allegations that the oil companies themselves are implicated,” says presidential aide Ken Saro-Wiwa, whose father, along with other Ogoni chiefs, was executed in 1995 after a peaceful protest against Shell.
According to a report from the foreign affairs thinktank Chatham House, oil is being stolen not just from pipelines but from tank farms, export terminals, refinery storage tanks, jetties, ports, pipelines, and wellheads. “Officials and private actors disguise theft through manipulation of meters and shipping documents. Proceeds are laundered through world financial centres and used to buy assets in and outside Nigeria, polluting markets and financial institutions overseas, and creating reputational, political and legal hazards,” it says.
Much of the stolen oil is exported to foreign refineries or storage facilities, says the report, including buyers in West Africa, the US, Brazil, China, Singapore, Thailand, Indonesia and the Balkans. The proceeds appear to be laundered through banks and other channels in various African countries, Dubai, Indonesia, India, Singapore, the US, the UK, and Switzerland.
The scale of the “bunkering” has shocked observers. Thirty centimetre pipelines able to transport thousands of barrels of oil a day have been found leading straight from pipelines into the swamps. The Nigerian navy had to sack two admirals for their role in the disappearance of a tanker that had been seized for transporting 11,000 tonnes of stolen crude.
“A lot of big-time stealing goes on. You know the oil you are offered is stolen,” says one oil trader in Port Harcourt who asks to remain anonymous. “They give it to you without documents at a cheaper rate. I was offered 50,000 litres today for 55 naira (20p) a litre. But 75 nairais the cheapest you can get it from the government. You know it’s a racket. There is no chance of getting caught because there is no system to catch people. Big business is big politics.”
Coming to terms with the dynamics of Boko Haram terrorism. over 5,000 persons have died, the economy of the North-East in ruins, President Jonathan finally declared a state of emergency in the affected North Eastern States.
Federal Government intensified military onslaught on the Al Qaida affiliated terrorist group Boko Haram.
President Jonathan said those who want to use the diversity of the nation to create crisis in the country will not succeed because God has a purpose for allowing Lord Lugard to amalgamate the northern and Southern Protectorate to form the nation.
Preparing Nollywood for Intl’ market in 2014

Stakeholders in the Nigerian motion picture industry converged in Lagos, to discuss strategies on how to reposition the industry and make it more attractive for the international market come 2014.
The event was the 2nd edition of the International film forum yearly organised by Association of Nollywood Core Producers,ANCOP, in collaboration with the Federation of Film Producers’ Associations,FIAPF,  which held recently at Protea Hotel, Ikeja, Lagos.
Many of the papers delivered during the one-day conference centred on the need for re-strategising and taking the industry to the next level in 2014, following the global recognition accorded to the industry.
According to. Bertrand Moullier, Senior Advisor, International Affairs,FIAPF who spoke on the topic, Nigeria has huge reservoir of untapped stories that need to be told at the international level. He said, while the market for international co-productions keeps  growing, many world leaders believe  in the economic and social value of subsidy for local film production.
Stressing further, he insisted that “We need to co-produce for economic reasons.” The FIAPF representative at the event, also posited that “ for the co-production to become  a reality, there is an imperative need for nationality rules to be set up in addition to having a functioning certification unit in the country.
Also, speaking from the legal perspective, Barrister Sandra Oyewole in her paper, “Chain of Title and The Practical uses of Rights”, urged Nollywood producers to develop a good understanding of the copyright laws in the country, which will enable them to secure chain of title contacts for their films, noting that the chain of title contracts would prove ownership of the film, help to limit and avoid litigation in addition to encouraging investment in the industry.
The chain of contracts, according to her, are essentially agreements reached with the film makers on the one hand and on the other, the owners of the works that will make up the film elements.
While enumerating some of the drawbacks associated with not having a written contract transferring your rights of ownership of a particular work, Barr. Oyewole said, failure to secure chain of title can affect  the ability to raise funds for production  and distribution of a film.
“No distributor will enter into an arrangement for distribution of a film if the chain of title is not in order. It is the chain of title that will enable the distributor obtain the relevant insurance. This insurance is what helps to defray any expenses that could be incurred if a claim is brought against the film maker and distributor,” she emphasized.
According to her, “The Nigerian film industry is quite informal and films are financed and distributed everyday with almost no documentation.” This, she said, has affected overseas distribution and potential investment. “Lack of contracts of ownership also affects valuation in the long term.”
The paper, “Digital Switchover:The Journey so far”, delivered by the Director-General, Nigerian Broadcasting Commission, Mr. Emeka Mba was diversionary but highly informative.
It  recounted the journey made so far by the commission in the bid to take the country to the next level, having  concluded plans to transit from analogue to digital terrestrial broadcasting in June, next year.
Mba said, “Nollywood is becoming strong both in terms of creativity and professionalism, and it is beginning to see the wisdom of integrating itself into the global system, which is the surest way to both unleash the power of the Nigerian and African story on the rest of the world, and also receive the full benefits that accrue from the practitioners’ creativity.
According NBC boss, “The Commission has realised that in order to give substance to the plans, there is a need to have a pilot city, which will provide a suitable testing ground for the switchover, to help foresee and take care of potential issues for the rest of the country.
AfricaMagic Viewwers’ Choice Award (AMVCA) 2014 This will be the second edition of the award ceremony, which is organized by AfricaMagic, in association with Multichoice.
The first edition was held on March 9, at Eko Hotels and Suites, in Lagos. Created to celebrate African film and television talent, both in front of and behind the cameras, AMVCA will feature several special categories in which viewers will decide the winners directly, alongside several professionally judged categories.
Nigeria plans to spend to $30.96 billion in 2014

Nigeria plans to spend 4.9 trillion naira ($30.96 billion) in 2014, little changed from this year, amid government expectations of reduced oil production.
Budget proposals submitted by Finance Minister Ngozi Okonjo-Iweala to lawmakers today in Abuja on behalf of President Goodluck Jonathan are based on an oil output of 2.39 million barrels a day and a price of $77.5 a barrel. The economy will expand 6.75 percent next year, faster than this year’s 6.5 percent estimate, with the budget deficit increasing to 1.9 percent of GDP from 1.2 percent this year.
Africa’s biggest oil producer will use an exchange rate of 160 naira a dollar to calculate its expenditure, according to the minister. Oil output estimates for next year are 6 percent lower than the figure of 2.53 million barrels a day used for this year’s spending plan.
In his medium-term expenditure proposals sent to lawmakers in September, Jonathan said revenue from crude exports was expected to drop in 2014. Nigeria depends on oil for about 80 percent of government funds and more than 95 percent of foreign income, according to the Finance Ministry.
The budget is the last before the 2015 election year, when Jonathan as well as lawmakers and state governors are due to seek new mandates in general elections. Jonathan hasn’t said whether he plans to stand for re-election, though he has come under pressure from some party factions not to run.
Nigeria’s long-delayed plan to rebase its GDP figures next year may boost the assessment of the size of its economy by as much as 60 percent.

Author: nmmin

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