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<h1>Africa’s richest man, Alhaji Aliko Dangote has raked in $350 million (N107 billion) in just 24 hours for selling 3.23% stake to foreign investors.</h1>

According to market reports, the cement maker sold 550 million shares at N225.7  each in a one-off stock market deal valued at $350 million (N107 billion). Although details of the investor(s) are currently not available, but the buying offer was coordinated by CSL Stockbrokers Ltd.

Dangote Cement Limited (DCL) is the biggest company on the Nigerian Stock Exchange (NSE). Its stock value is one-third of the market's total capitalization.

The shares of DCL was listed on the Nigerian Stock Exchange (NSE) in October 2010 at a price N135 per share. As at close of trade on December 19, 2017, its price stood at N238.99 per share.

Also Read: <a href="http://www.pulse.ng/bi/finance/finance-dangote-cement-moves-to-acquire-biggest-cement-producer-in-south-africa-id7359295.html" id="7c95b404-28e3-5676-9096-3c8f1181533b">Dangote Cement moves to acquire biggest cement producer in South Africa</a>

Also, the business accounts for over 75 percent of Dangote's wealth. Within the last five years, Dangote Cement has expanded to nine other African countries.

The deal is expected to increase the market capitalisation of NSE and positively impact on the end of year results of the bourse.

Why is Dangote selling his stake in the cement business?

Africa’s biggest cement maker has been selling small stakes to increase its free float (a number of his shares that could be traded on the stock market). On July 2017,128.5 million of its shares were sold at N210 each.

A similar deal was also struck with an unknown foreign investor in <a href="http://www.pulse.ng/bi/lifestyle/lifestyle-aliko-dangote-is-the-only-african-in-top-200-of-forbes-billionaires-list-id7113697.html" id="ca152234-7e58-5bb7-8c8a-171b79f480dd">August</a>. Dangote sold 416 million shares (2.3%) of its cement subsidiaries to a foreign investor for $236 million (N86.1 billion).

Dangote is currently shielding some weight in his investment portfolio to accommodate his proposed refinery business. Market analysts also noted that he may be transferring some risks in his businesses to other willing investors with these deals.

<a href="internal:/article/7735470" id="aa1dda72-f367-5285-9228-77439ef2b6d4">Aliko Dangote is Bloomberg's Most Influential African 2017</a>

This is surely the deal of the year.

How billionaire sold 3.23% stake in his cement business for $350 million

<h1>Fish farming is gradually becoming one of the most lucrative businesses in Nigeria.</h1>

And as a result, a good number of people are venturing into the business like never before. But as lucrative as fish farming can be, a lack of proper information concerning the business can lead to a loss.

So, what is fish farming in the first place?

According to aquaculture experts, fish farming is an act of rearing fish for commercial purpose. And this involves building the earthen, tarpaulin or concrete pond, fertilizing the pond, stocking the fingerlings in good water and feeding them till they are mature enough for marketing.

However, it is important to note that of the countless number of fish species around the world, only a selected few are feasible for fish farming.

And they include tilapia and catfish.

As a starter, it is best for you to consult an expert in other to know the pond type that is best for you, source of water, vitamins and general maintenance of the pond, based on where you intend to carry out the activities of the farm.

However, there are three types of ponds; and they are, earthen pond, concrete pond, and plastic tank pond.

What you should know before starting a fish farming business

What you need to start a fish farm

Unlike most businesses, any location is good for fish farming because fish doesn’t cause any environmental disturbance.

You can either hire or buy, depending on how you intend to run it. However, if you have leftover space in your compound that can accommodate two or three ponds, you may use it.

Here, you will need the service of an expert pond construction engineer. Do not overlook this as there are things that must be done properly to ensure that everything works fine.

For example, the plumbing work must be properly done to ensure proper drainage.

It is important to emphasize here that when it comes to fish farming, adequate water supply is more like the lifeblood.

Therefore, lack of adequate water may result in disaster because water needs to be changed as often as possible.

However, it is advisable not to make use of chemically treated water or even rainwater. Borehole and river water are the preferred options when it comes to fish farming.

This is the water reservoir from which water is supplied to your ponds. This tank has to be connected to your ponds through plumbing system to make it convenient for water to flow into your ponds when needed.

Where you get your juvenile is very important because if they are not healthy enough then you’re in for a loss already.

Thus, it is advisable for you to get your juvenile from farms that specialize in supplying it. And when you do, ensure you go for the high yield species from a healthy farm.

Training here, doesn't mean the kind of training you get from one-day seminars. In other to run the farm effectively, you need to get attached to a fish farm for proper apprenticeship.

ALSO READ: <a href="" id="9574fb50-cce5-59bf-8611-8b39ecc7d247">How to start a wine store business</a>

As lucrative as fish farming can be, a lack of proper information concerning the business can lead to a loss.

Ever thought of starting this business? Here's how

<h1>The Federal Republic of Nigeria filed a $875 million suit against its escrow account holder JP Morgan Chase for allegedly transferring $800 million of the procurement for OPL 245 to</h1>

This is according to reports by Reuters whose journalists recently saw the filing made in London November last year.

In widely covered media reportage, its been revealed that dutch oil giant Shell and Italian explorer Eni had connived with officials under president Goodluck Jonathan’s government to purchase OPL 245 for a cheap $1.1 billion - a third of its real value, with Malabu Oil poised as owner in order to siphon the money as presidential campaign drew near.

Sunday Times reports the Nigerian government declared the arrangement a sham.

Chief Dan Atete, former oil minister under General Sani Abacha’s regime in the 1990s awarded the lucrative block to his fronted company Malabu Oil but has since been charged for money laundering in France and is at large.

In its suit filed in London courts last year, the Nigerian government accused JP Morgan of being “grossly negligient” and not conducting thorough due diligence.

"If the defendant acted with reasonable care and skill and/or conducted reasonable due diligence it would or should have known or at least suspected... that it was being asked to transfer funds to third parties who were asking to misappropriate the funds from the claimant and/or that there was a significant risk that this was the case," the filing read, according to Reuters.

However, a spokesperson for JP Morgan refuted the accusation stating that the American bank "considers the allegations made in the claim to be unsubstantiated and without merit."

JP Morgan transfers $800 million to accounts controlled by convicted money launder, Dan Etete.

Nigeria sues JP Morgan for $875 million

<h1>The Federal Government in a bid to put an end to the age long disparity between Polytechnic and University graduates has announced same salary structure for both BSc and HND holders in paramilitary.</h1>

In a recent meeting chaired by the Minister of Interior, Lt Gen. Abdulrahman  Dambazau, a board approved for all officers with Higher National Diploma (HND) to be upgraded to COMPASS 08, the salary grade level for BSC holders at the entry point.

And to authenticate the regularisation of the salary, “the board directed that all officers with HND to be upgraded to COMPASS 08, which is the salary grade level for holders of degree certificates at the entry point.

“While the nomenclature for the HND holders will start with the rank of Senior Inspector, the degree holders are with the rank of Assistant Superintendent II.”

That sounds like a good news that should put an end to the lingering discrimination between University and Polytechnic graduates since they now take home same salary.

Well, it appears so, but there is more to this disparity between University and Polytechnic graduates.

Perhaps the decision would have been the best thing to happen to Nigerian educational system if the board had been patient enough to look at other bone of contentions in the unending HND/BSc debacle.

This policy may soon diffuse to other government agencies and parastatals to make it a merry-go-round policy as Federal Government has always promised to end the dichotomy.

In July 2016, the Minister of Education, Mallam Adamu Adamu announced at Kaduna Polytechnic Convocation that the Federal Government is planning to take all required steps to put an end to the issue of dichotomy between Higher National Diploma (HND) and the Bachelor’s degree holders.

Few days after, precisely, Monday, August 1, 2016, news broke that the Federal Government had scrapped HND and set to merge polytechnics with Universities.

The news tickles the hearts of many Polytechnic undergraduates, who thought turning polytechnics to university would earn them BSc, but their hope turned out to be the usual promise and fail attitude of our government.

Since then, turning polytechnics into universities has been made to look like a pipe dream for polytechnics. Although, Moshood Abiola Polytechnic has reportedly been approved by Nigerian University Commission to become an Ivory tower.

Now, the Federal Government thought awarding same salary structure and rank for both University and polytechnic graduates in the para-military would end the problem.

The HND/BSc dichotomy is much more than what salary can solve and some Nigerians even those in Polytechnics think the Federal Government effort may not neutralise the disparity between Polytechnic and University graduates.

Even some University and Polytechnic lecturers do not totally agree with the Federal Government's move to use salary and rank to stop the discrimination some polytechnic graduates have suffered in the labour market.

Dr Tunde Akanni, a development consultant and senior lecturer in Lagos State University School of Communication predicated the genesis of the disparity on the visions with which polytechnics were established.

He said "When you are creating an institution or any establishment at all, you must have had a vision. The Vision behind the creation of Polytechnics in Nigeria is to provide middle-level manpower for the Nigerian society. But those in the University were envisioned to become elite professionals.

When we were admitted into the University, what we were made to understand is that when you are graduating, you graduate as an elite professional whereas, the guys in polytechnics graduate at best a top level technician."

Sharing the same sentiment, Oluwafemi Onifade, a lecturer at the Federal Polytechnic, Bauchi believes that the 'original sin' that cosigned Polytechnics to discrimination stemmed from the vision with which it was established.

"We all know that the ways they set up the university and polytechnics are very different. Polytechnics are meant to provide middle-level manpower while Universities are to provide top level man power. So because of this most people do not want to go to polytechnic anymore, they all want to go to  universities."

The government might have had good intentions with their visions for polytechnics but the certificates they award, fraught by dearth of jobs and poor educational system has marred the visions for polytechnics. This is why the disparity becomes more pronounced because the top level manager, the middle level and the low-level managers are now competing to have the same job in which the man with BSc is the employers' favourite.

It is also from this vision that discrimination sprouted and this has culminated to seeing Polytechnic graduates as inferior to their university counterparts.

A Polytechnic graduate in the civil service at entry level and top level is always placed a step below a BSc holder. This explains the reason why an HND holder in the country cannot become a Permanent Secretary, which is the highest rank in civil service.

While many Nigerian discusses the disparity in the context of segregation and discrimination, the Polytechnic lecturer, who spoke with Pulse argues that the disparate treatment the HND holders suffer in work places and elsewhere is not a discrimination but inequality that has legal backings.

"I don't really think it is a discrimination because it has legal backings. Should we remove the law and somebody is still saying you have an HND and you cannot get to certain levels then,  it becomes a  problem, it becomes illegal. But now it is not illegal because they are only following the laid down laws by denying them promotions.

"Where I have a problem is where somebody has an HND first, the PGD, the masters and the PHD and someone still says you cannot rise to a certain level because you came in with HND first, when someone who has just BSc becomes a Permanent Secretary or Head of Service without masters or any other qualification. It is annoying. But if after your HND and PGD and you become at par with someone with BA or BSc, fine it is okay. But, generally speaking, the standard is poor."

The Lagos State Lecturer also shares similar views that since Polytechnic and University have different laws and visions setting them up, polytechnic graduates should be made to go through some refinement to enjoy same privilege with BSc holders, rather than just putting them on the same salary scale.

"If you want to close the gap, you may say for those of you who went to Polytechnic, after fulfilling certain conditions, you may be deemed considered for so and so privileges. There must be conditions to fulfil"

Dr. Akanni also pointed out the disparity in admission requirements Polytechnic and University in Nigeria.

"We have Universities and Polytechnics in the country and entry requirement are different. Why did they lower requirements for a set of people and high it for another and when they finish the race you expect them to have same ratings irrespective of the disparity at the onset?" He queried.

Moreover, the Federal Government had made attempt to convert some Polytechnic to Universities in the country to put a stop the dichotomy. Yaba College of Technology and Moshood Abiola Polytechnic (MAPOLY) are on the verge of becoming universities, yet some still believe that upgrading the school and not the lecturers would still not solve the problem.

Dr. Akanni is one of those positing this argument and in his opinion, awarding Btech in Polytechnic-turn- universities is a clear example of putting the cart before the horse.

"MAPOLY, Yabatech and others might become universities but then they have to strengthen the personnel, the work force.  Go and do a survey of the lecturers in Polytechnics now, how many PhD holders do they have there? If they want to undertake any research, who are the people that'll ascertain that the work is good enough? The United Nations realise this better. If the UN is giving out any research contract, the minimum requirement for a qualified research is masters degree, so what that means is that regular requirement is PhD."

He continues, "One important thing for which Universities are most known is research, and if we don't have people who can conduct research, what is in that University? So, awarding B.Tech may still not solve the problem if the personnel are not strengthened academic wise"

Before now, Nigerians employers of labour, both government and private often measure job seekers competence by their certificate. University graduates are often adjudged to be better than their Polytechnic counterparts irrespective of what they can do.

Though, this narrative is gradually changing from certificate to talent based competence. A lot of employers of labour now consider the CV and the quality of the graduate first before looking at the academic degree the certificate carries.

It is against this background that the Bauchi Polytechnic lecturer thinks even if all Polytechnics begin to award Btech, it may not change the perception of public about HND holders if they do not re-train themselves to be fit and qualified for the job they want.

Onifade said "even if they (FG) enact the laws and those who go to polytechnics do not re-train themselves, what you hold would not matter. This is why it is all about what you can do on the job. In other words, it is the graduate, not the certificate."

In the face of these many issues, the Federal Government has thought it wise to pay both HND and BSc holders in civil service same salary but state governments across the country are yet to domesticate this policy.

Again, it is yet to be seen if Polytechnic-turn-University would, in the long run, have same academic and social standing with University in Nigeria given the public perception of Higher National Degree award our polytechnics issue their graduates.

Finally, the Federal Government policy to stop discrimination through salary and rank in paramilitary (and by extension agencies and parastatals) may partly solve the problem for the few in its payroll. Those in private sector and state government may have to endure till the Federal Government comes up with another law or policy that will exterminate the disparity and discrimination that have refused to go since Yabatech was established.

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The disparity that has consigned HND holders to job discriminations is said to have sprouted from the visions with which polytechnic education was set up.

There is more to degree disparity than FG salary for HND holders

<h1>The Nigerian government has expressed willingness to partner with the Iranian government towards the use of technology for development in the country.</h1>

This disclosure was made during a courtesy visit to Nigeria’s Minister of Science and Technology, Dr Ogbonnaya Onu by the Iranian Ambassador toNigeria, Mr Morteza Zarchi on Thursday, July 13, 2017, in Abuja.

Onu said the country desires to consolidate its relationship with Iran, especially in the area of science and technology.

“I must commend you for the good work you have done to promote a good relationship between Iran and Nigerian. I also commend Iran for her commitment to using science and technology for nation building,” he said.

It is as a result of this that government has initiated many programs to support many technology hubs and companies developing tech products in the country.

The minister also said that science and technology would help Nigeria to use its resources more efficiently to create jobs. Hence, he noted that Nigeria would be happy to cooperate with Iran.

“At one of the conferences I attended representing my country in Pakistan, your minister of science and technology told us that Iran as of last year was investing 1.2 per cent of your GDP in science and technology.

“There is that decision to even boost allocation of more resources to science and technology because you understand and appreciate the importance and relevance of science and technology to nation building.’’

The Iranian envoy also appreciates Nigeria’s commitment to using technology to diversify her economy.

Zarchi stressed that both countries are in the same situation as both are exploring diversifying their economies through technology and agriculture.

He said Iranian investors are also interested in partnering with Nigeria in the science sector.

In recent time, Nigeria has been on the drive towards using science, technology and innovation‎ as tools for nation-building.

Nigeria, Iran to partner on technology development

<h1>In a move that looks like the revival of the pre-colonial cocoa wonder in the south-Western part of the country, the newly revivified Osun State Cocoa Processing Factory has achieved a daily 20,000 tonnes of cocoa processing.</h1>

The company which was established in 1982, stopped production in 2001 as a result of obsolete equipment and management related issues.

In 2015, the state government secured investments from two Chinese companies, Skyron Corporation and Golden Monkey Group of Company which led to the resuscitation of the industry.

Osun state’s Commissioner for Industries, Commerce, Cooperatives and Empowerment, Mr Ismail Alagbada disclosed that the company now process about 20,000 tonnes of cocoa on a daily basis. He further stated that the state government is looking towards adding value to the product instead of exporting it raw to overseas.

“At present, the company is processing 20,000 tonnes of cocoa into cocoa liquor for both local and international consumption, thus increasing the production capacity of the company by 400 percent from 2001 period."

“The revival of the CPI is part of the realisation of the industrialisation plan of the current administration, to put the company into effective use for optimum performance."

The commissioner further explained the current ownership structure of the company and the resolve of the government to ensure other associated cottage industries are developed through adding value to the raw cocoa produce.

“Through this partnership, many people in Osun will learn the trade of cocoa processing. The possibilities are just endless. At least, now, our people know that more value accrues to them if they process cocoa rather than exporting in its raw form.”

“The company will soon begin the production of cocoa powder and cocoa cake, stressing that no fewer than 200 employments have been generated since the revival of the industry.”

Alagbada stated that more workers would still be recruited as the expansion of the company was being carried out.

“Going by the new arrangement, the state government owned 30 percent equity, which gives it a 30 percent revenue derivable from all resources and funds generated in the plant.”

New management of the Osun Cocoa Processing receiving the Osun state Governor, Mr Rauf Aregbesola during a visit to the refurbished and operation plant 

In 2015, the state government secured investments from two Chinese companies, Skyron Corporation and Golden Monkey Group of Company which led to the resuscitation of the industry.

Osun processes 20,000 tonnes daily, revival of South-West cocoa phenomenon on course.

<h1>The figure of the monthly allocation to Federal, State and Local governments for the month of May 2017 as revealed by the National Bureau of Statistics (NBS) indicates that there is a significant increase in the revenue of government within the month.</h1>

According to the statistics released by NBS on Thursday, June 22, 2017, the government revenue increased by N45 billion to reach N462.4 billion in May as against N415.7 billion recorded in April 2017.

The breakdown of the revenue showed that a total of N317.562 billion (68.67%) was from statutory Federation Account; N64.81 billion from exchange rate differentials; N67 million from Petroleum Profits Tax (PPT) and N79.99 billion from Value Added Tax (VAT).

Speaking at the end of the meeting, the Accountant General of the Federation, Mr Mohammed Usman noted that the increase in the revenue that accrued to the Nigeria government during the month of May 2017  can be attributed o the increases in revenues from companies Income tax and oil royalty.

Mr Usman continued that revenue from Customs and exercise duties was also marginal noting that the deep in oil prices also affected the country’s earnings from oil export.

On the revenue distribution to each tier of government, the Federal Government received N147.68 billion; State governments got N74.91 billion and Local Governments got a sum of N57.75 billion.

Oil producing communities received N20.51 billion as 13 percent derivation on oil revenue for the month.

From the VAT, the Federal government received N11.518 billion, states N38.393 billion, and  N26.88 billion for the 774 Local governments in Nigeria.

The Accountant General of the Federation, Mr Mohammed Usman

The Nigeria government revenue increased by N45 billion to hit  N462.4 billion in May as against N415.7 billion shared during the FAAC meeting April 2017.

High corporate tax collections spur FG revenue in May 2017

<h1>Africa’s richest man and the Chairman of Dangote Industries Limited, Alhaji Aliko Dangote has revealed that Nigerian economy is losing an estimated N20 billion on a daily basis to the bad roads around Apapa, Lagos.</h1>

Dangote disclosed this fact during a chat with the journalists in Lagos on Tuesday, June 2017. He categorically stated that the country is losing about N140 billion weekly to traffic gridlock on all roads linking the city.

“The economy loses more than N20 billion daily. It affects businesses across the country. All our operations in the hinterland in Ilorin and Kano are operating at 40 percent capacity."

Apapa is a commercial city of Lagos with the country’s largest and busiest seaports (Tin-Can Island and Wharf Ports) and a site of many big manufacturing conglomerates in Nigeria.

“Today, there is no road linking the South-West to the North. You have to go all the way through Ajaokuta, Obajana, Lokoja and you have to go through the uncompleted road Obasanjo started 13 years ago,” Mr Dangote stated.

The Nigerian businessman also used the occasion to address its commitment towards addressing the problem through the corporate social responsibility of the Dangote Group and Flour Mills of Nigeria (FMN).

“Because it is very embarrassing! We can’t just sit and have a road like that where it is the heart of the trade of the country. More than 60 percent of our country’s import and exports come through the port and we leave it unattended.”

It would be recalled that the Federal Government, represented by the Ministry of Power, Works and Housing and Nigerian Port Authority signed a Memorandum of Understanding (MOU) over the weekend with Dangote Flour Mills and Flour Mills of Nigeria.

Mr Dangote also used this opportunity to address some aspect of the construction including the involvement of FMN and the use of AG Dangote Construction Company to execute the project.

“Both Dangote and Flour Mills are pumping in over N2.5billion for a two-kilometre double lane on each side making a total of four kilometres. we had started on our own and Flour Mills said they will join us."

He also noted that: “…government changed the design because they want all the cables and pipes underground, to ensure a more robust solution.”

“To help in bringing the cost down, I have to force AG Dangote Construction Company to do this project at zero profit.”

“The biggest job is drainage because that is what is destroying the road. We will make sure this problem is sorted out once and for all.”

Aliko Dangote, the Chairman of Dangote Industries Limited

Apapa is a commercial city of Lagos with the country’s largest and busiest seaports (Tin-Can Island and Wharf Ports) and a site of many big manufacturing conglomerates in Nigeria.

Nigeria losing N20 billion daily to bad roads in Apapa

<h1>One of Nigeria’s leading Fast Moving Consumer Goods (FMCG),</h1>

This disclosure was made on Thursday, May 18, 2017 during the company’s 44th Annual General Meeting (AGM) in Lagos, Nigeria.

The company noted that it has a satisfactory operating results and performance, despite harsh macroeconomic condition and an unfriendly operating business environment.

The company’s financial reports showed an increase in its turnover from N120.72 billion in 2015 to N123.75 billion in 2016 (2.5 percent growth), and a PBT of N19.96 billion (7.2 percent growth) in 2016 as against N18.62 billion achieved in 2015. These performances were anchored on the twin impact of the growth in turnover and a significant reduction in administrative costs of the company.

According to the Chairman of the company, Mr Jacobs Moyo Ajekigbe OFR, the company was able to whether the harsh business environment in 2016 through increasing its distribution network and coverage of many sales outlets, with more collaborative initiatives with the local dairy farmers.

“Though 2016 was a challenging year due to the prevailing economic climate, which impacted on the cost of production, raw and packaging materials sourcing; the Company recorded remarkable achievements in operational efficiencies, cost management and improved productivity across the supply chain systems with new investments in human capital development and facility improvements.”

“The Company made tremendous progress in its journey of continuous improvement in quality, ensuring that the high quality of the Company’s products is maintained throughout the value chain from grass to glass. This laudable pursuit of our Company was given credence in the course of the year with the achievement of Food Safety Systems Certification (FSSC) 22001” he said.

At the meeting, the company’s shareholders approved a dividend payout of 75 of the profit after tax (PAT), while its company is positioning to focus on improving the quality of milk obtained from local dairy farmers.

“The Shareholders approved the Board of Directors' proposal of a total dividend payout of 75 percent of the Company’s PAT for the year under review, which is equivalent to N10.65 per N0.50 share. An interim dividend of N2.95 per N0.50 share was paid in November 2016, and a final dividend of N7.70 per N0.50 share was approved,” in a statement signed by the company.

The company noted that current foreign exchange challenges, high inflation, low consumer purchasing power and an increase in retail price of milk are likely to adversely impact the company’s sales and profitability in 2017.

From left: The Managing Director, FrieslandCampina WAMCO Nigeria PLC, Mr. Ben Langat; Chief Operating Officer, CPEMEA Royal FrieslandCampina, Mr. Roel van Neerbos; Chairman, FrieslandCampina WAMCO Nigeria PLC, Mr Jacobs Ajekigbe; and Chairman, Supervis...

The company’s financial reports showed an increase in its turnover from N120.72 billion in 2015 to N123.75 billion in 2016 (2.5 percent growth).

FrieslandCampina WAMCO posts 7.2 % growth in Profits in 2016

The Nigerian 8th National Assembly (NASS) has been synonymous with many unpleasant attributes since its inauguration; hence Nigerians expect little or nothing great from its confederation.

In a move that surprised most of the citizenry, the NASS released a 33-page document detailing the expenditure of the two-chambered body for the first since its inception in 1999. The assembly has been described as the most financial secretive arm of government/agency after the Nigerian National Petroleum Corporation(NNPC). Just like the annual budget of the country, the document is populated with items calling for more questions.

Many Nigerians appreciated this bold step towards instilling transparency and accountability in governance, yet the details as presented brought back to life the need to discuss the size and cost of our current democracy.

A budget of N125 billion ($409 million) for a house whose total population is 468 members can be adjudged too expensive.

This translates Nigeria using N267.1 million/per year to manage each of its legislators, while over seventy percent (70%) rarely attend plenary sessions or contribute constructively to discourses which directly impact national development in the country.

In a tight and slow economic atmosphere like Nigeria, one should be alarmed by this budget, and the need to revisit the discourse around reducing the legislative arm to just one house is more necessary now than ever.

The development cost of using our limited resources to satisfy a few mouths is more expensive than what we can estimate.

The NASS 2017 budget is larger than that of 18 states in the country. For a more appropriate description, the budget is larger than a combination of 2017 budgets of three states in Nigeria (Nassarawa – 67.103 b, Anambra – 58.9 b among other states budget that could be peered).

Development cost of huge National Assembly 2017 budget

Constrained revenue potentials and huge deficit are basic features of Nigerian annual budget, and in most years, developmental projects are sacrificed to cater for the huge recurrent spending of government.

In the same vein, the National Assembly 2017 budget as released clearly show misplacement of development priorities for many non-developmental related expenditure items. Allocations for these items as shown would have been allocated to cater development of infrastructural facilities, which have directly impact on economic life and welfare of the populace.

The document showed a whopping N9.6 billion ($31.5 million) was allocated to cater for legislative aides in a country that its citizenry hardly lives above $2 a day.

Putting this in the context of infrastructural development, the amount budgeted for the aides would have executed all expect one capital projects of the Aviation sector as planned in the country’s 2017 budget. Worthy of note is that the quality of a country’s aviation sector and airport facilities is directly linked to the volume of foreign direct investments it would attract.

For the argument of the importance of these aides to the effectiveness of the legislators, their salary should have been deductible from their principal’s salary not bundled on the taxpayers and meagre resources of the country.

Other areas of huge resources misapplication are the overhead cost of the NASS. Sometime in 2012, the former CBN Governor (now Emir of Kano), HRM Muhammadu Sanusi II, stated that over 78% of the budget overhead are being on the management of the 468 national assembly members. A fact confirmed by the details of the released NASS budget.

A whopping N85.9 billion ($28.2 million) is budgeted for taking care and ensure effective legislative processes in the country. This would not have been the issue if these legislators would put in their best for the purpose they're elected for.

Since the beginning of the 8th legislative assembly, the total bill introduced by both houses was estimated at 124 bills (add the NASS website).

In monetary terms, the estimated cost of the legislative bill is N1.2 billion, simply because the parliament spends more time on probes of many irrelevant issues.

Just like every nation that concern about optimal use if its scarce financial resources, Nigeria government should ensure financial discipline across tiers and arms of government in the country.

We simply cannot afford this misapplication of funds anymore.

The Nigerian Senate after close of plenary.

This translates Nigeria using N267.1 million/per year to manage each of its federal lawmakers.

The 2017 NASS budget is more than that of 18 states in Nigeria

The Nigeria government has achieved great milestone in its pursuit of ensuring greater ease of doing business in Nigeria. The government announced the reduction of days required for business registration to 2 days (48 hours) and number of forms required to just one (form 1.1).

This resolutions and decisions was part of the report given by the Presidential Enabling Business Environment Council (PEBEC) meeting at the end of the 60-day action plan on Ease of Doing Business in Nigeria reforms held in the Presidential Villa on Monday, April 26, 2017.

The council had also set 24-hours timeline for company registration from the day application form is completed and all required documents made available while prospective business owners can now search the Corporate Affairs Commission's portal (<a href="http://www.cac.gov.ng" id="86ca0a15-4a4e-56a7-9173-814281ea5b75">www.cac.gov.ng</a>) for availability of name to avoid duplication of names.

According to excerpts of the council’s report made available to journalists last night by the Vice-President’s Media Aide, Mr. Laolu Akande, the council has ensured integrated FIRS e-payment solution into CAC portal to enable e-stamping has been introduced while the CAC internal lawyers are required to certify company incorporation forms and conduct statutory declaration of compliance for a fixed fee of just N500.

The report also highlighted that “dealing with construction permits, getting electricity, registering property, getting credit and paying taxes as some of the areas where the council has recorded progress in the past 60 days.”

Other reforms introduced by the council as hinted during the PEBEC/NESG Breakfast Meeting held in Lagos on Friday, April 21, 2017, extend to areas such as entry and exit of people, trading across borders, getting credit, paying taxes and registration of property.

With this new reform, you do not need a lawyer to register your business again.

Business registration now takes 24-hours

<h1>Yesterday, Saturday, April 22, 2017, was the 7th year anniversary of</h1>

The date is now regarded as a moment to celebrate a budding legend, Oladapo Olaitan Olaonipekun aka Dagrinwhose music legitimized  indigenous rap music in the Nigerian entertainment space.

On April 14, 2010, Dagrin had a fatal accident as his car, a Nissan Maxima rammed into a truck. The car which was a wreck after the accident was last seen in public during the premier of the rapper's highly criticised biopic in 2011. Where is the Nissan Maxima that Dagrin was driving on the ill-fated night?

It is a global practice that properties of legends are kept and consciously preserved to keep the history and facts undisputed for younger generations to learn from. The ill-fated Maxima car Dagrin was driving when he had a collision was abandoned at the Lagos State University (LASU) premises for over six years because of N20,000.

A visit to the University by Pulse revealed that all abandoned cars in the university premises have been tolled away by the university authority at expiration of the given time for removal. This means that Owode Onirin – a popular iron and motor parts market in Lagos, is now the home of the battered ride.

Mr. Peter Ogundana (Pepero), a former Treasurer of the school’s Student Union, also confirmed to Pulse that the car was detained by officials of the Student Union due to a failed agreement. The school management later took up the case.

An official of the University, who chose to be anonymous, also confirmed that the car has been abandoned at the spot for years without any attempt at retrieving it. Hence, it has to be removed as the school is clearing the environment of unwanted items.

Dagrin's car should be preserved as part of our national history but unfortunately like every precious thing in Nigeria, it has been thrown away.

This car should have been put up in a museum to honour legendary Nigerian entertainers, like a hall of fame, instead like everything in Nigeria it has been left to waste.