The Exit of Inspector General of Police from the nations IGP was released with a six paragraph note deliver in Presidential villa and Hafiz Ringim, an assistant Inspector General of Police (AIG) Zone 9, Umuahia, as the new inspector general of police who replaces Ogbonnaya Onovo while Ita Epeyong replaces AA Gadzama as the new director general of the States Security Services (SSS). 
BP Plans to Sell Assets to Feed Victims' Fund
Da Grin - Before and Now
INSIDERS ALLEGED Popular Rap Artiste, Da grin’s Car was filled with liquor at the time of the accident.
As at the time when the music industry is still praying for the quick recovery of Tunde , a member of Styl Plus who got involved in an auto crash in Abuja few weeks back, another tragic incident happened at the early hours of Wednesday 14th of April, which involved the prolific rapper, Da Grin. The lyricist was said to have been coming from a night studio session when he ran his newly acquired Nissan Ultima into a parked truck in front of Alakara police station in Mushin. As at the time of the accident, Dagrin was left hanging between life and death before he was rescued by policemen on patrol. The policemen reportedly called his manager, Tunde after finding his number on Da Grin’s ‘last dialled’ list. We gathered that Dagrin was immediately rushed to Tai Solarin Hospital in Olosha where he was given first aid treatment before he was later transferred to Lagos University Teaching Hospital (LUTH) at Idi Araba in Mushin due to the inapability of T&S Hospital to administer needed treatment.
Witnesses have revealed excluseively to Questionmarkmag.com that contrary to the statement by the manager that Da Grin was coming from a studio session for his upcoming album, he was coming from a friend identified as James. We were further hinted that he got intoxicated during his stay with James over the night before he decided to call it a day. A by stander at the scene of the accident revealed that “he must have been drunk and over-speeding because the truck he rammed his car with has been parked at the front of the police station several hours before the tragedy occur, to buttress my point, when we ran to rescue him after the accident, a bottle of Hennessey was found in the car and the whole car was filled with the all sort of liquor induced odour“. Dagrin was said to be in accompany of his close associates, when the accident occured. The damaged car has since been confiscated at Alakara Police Station in Mushin.
At the early hours of Wednesday, Questionmarkmag.com contacted his manager and he claimed that accident was a minor one and not as brutal as been speculated. “ I don’t know where you actually get this story from at this hour but at the same time we thank God, the accident wasn’t that fatal, he only sustains minor injuries but he’s feeling better now” his manager squealed. An insider who claims anonymity disclosed to us that at the hospital that no one hasn’t been allowed to visit him as his condition implies, “the Doctors say he’s improving, but they have to keep him in ICU until his condition stabilizes. He hasn’t been able to open his eyes or speak since yesterday. I believe they’ll move him from Intensive Care Unit (ICU) to the ward once he comes round”, he quip. It took his management two days to issue a statement. Two days after the fatal accident, a statement was issued by the artiste manager that: Between 2 and 3 am on Wednesday14th of Aril, your favorites indigenous rapper, Olaitan Olanipekun aka Dagrin had car accident along the mushin area of Lagos State. He was on his way back from the studio, where he was recording tracks for his upcoming new album. He came out of the crash with cuts and bruises and has a successful operation to close a cut he sustained during the accident. He’s presently in the hospital, where he’s recovering.
The International Monetary Fund (IMF) has forecast a growth of 7 per cent and 7.3 per cent for Nigeria in 2010 and 2011 respectively.
IMF had projected a growth of 6 per cent and 5.6 per cent for Nigeria in 2008 and 2009 respectively for Nigeria, but the country recorded a growth of 5.3 per cent in 2008.
The Fund, which also noted that the world economy was recovering from the global crisis better than expected, projected global growth to hit 4.2 per cent and 4.3 per cent in 2010 and 2011 respectively.
In the depth of the crisis last year, world economic activity contracted by 0.6 per cent as world trade slumped and credit froze up.
In its World Economic Outlook for April 2010 at the ongoing 2010 World Bank/IMF Spring Meetings in Washington D.C., the Fund put Sub-Saharan Africa’s (SSA) growth rate at 4.7 per cent and 5.9 per cent in 2010 and 2011 respectively. It noted that the region has weathered the global crisis well, and its recovery from the slowdown in 2009 is expected to be stronger than following past global downturns.
Acknowledging that some middle income and oil exporting countries were hit hard by the collapse in export and commodity markets, it said that SSA managed to avoid a contraction in 2009, growing by 2 per cent last year.
Noting that remittances and official aid flows have also been less affected than anticipated by the recessions in advanced economies, IMF said banking sector reforms have so far proved generally resilient, while private capital inflows have resumed into the region’s more integrated economies.
Commenting on declining global demand and collapse in oil price, which dealt a big blow to SSA’s major exporters, the Fund lauded the strong performance of Nigeria’s non-oil economy, which allowed the country to avoid a substantial slowdown in her economy.
The IMF however, warned that political uncertainty in several economies, particularly in West Africa, has potential to dampen their economic growth and spill over to their neighbours.
It also noted that attracting private capital flows – and ensuring that macroeconomic policy successfully accommodates them – will continue to be a major challenge.
“More than a third of economies in sub-Saharan Africa remain on the margins of international capital markets and dependants on official external financing. For these economies, the same reforms that are needed to raise productive potential – including promoting trade and financial sector development, encouraging domestic saving and strengthening institutions - are also likely to help attract private inflows on a sustained basis.
“For the region’s more advanced economies, macro-economies policy will need to take into account the renewed inflows of foreign capital to avoid over-heating, unwarranted appreciation, and asset price booms,” the Fund said.
It said among the advanced economies, the United States is off to a better start than Europe and Japan. Among emerging and developing economies, emerging Asia is said, is leading the recovery, while many emerging European and some Commonwealth of Indepen-dent States economies are lagging behind.
The Fund had forecast China’s growth at 10 per cent in 2010, with India also at a rapid 8.8 per cent.
Acting President Goodluck Jonathan on Thursday signed the 2010 Budget with a warning to ministers to ensure its faithful implementation.
He signed the budget alongside the Nigerian oil and Gas Content Development Bill 2010, inspite of the non-resolution of the disagreement between the Executive and Legislature over perceived discrepancies in the Appropriation Act.
Grey areas in the version of the budget passed by the lawmakers, which the Executive described as “discrepancies”, had initially stalled the signing of the budget by Jonathan.
The two parties held extensive deliberations at the Akinola Aguda House, the Acting President’s official residence in the Presidential Villa, on Tuesday night, after which it emerged that the budget would be signed.
However, in an address during the budget signing at the Council Chambers of the State House, Jonathan disclosed that the contentious issues were yet to be resolved.
But he said that the leadership of the National Assembly had agreed to resolve the problems.
Jonathan said, “In November 2009, this administration presented a budget proposal to the National Assembly for their consideration and passage.
“This proposal, as subsequently amended, was for an aggregate expenditure of N4.4tn, with a deficit of N1.32tn, or 4.05 per cent of Gross Domestic Product.
“After due consideration of the budget proposal, the Legislature passed an Appropriation bill of N4.4tn, with a deficit of N1.52tn or 4.66 per cent of the GDP.
“However, we in the Executive have pointed out certain aspects of the appropriated expenditure which the leadership of the Legislature have agreed will be resolved.”
The 2010 budget is based on indices which reflected the government’s assumptions for the fiscal year, including oil production capacity of 2.35 million barrels per day; benchmark oil price of $67 per barrel; and average exchange rate of N150 to a dollar.
Jonathan expressed the hope that if well implemented, the budget would accelerate national development.
The Acting President, who added that the office of the Minister of Special Duties would be empowered to monitor and evaluate all government programmes and policies, therefore enjoined ministers to ensure thorough implementation of the Appropriation Act.
He warned that failure to do so by the ministers would attract sanctions.
Jonathan said, “It is with a deep sense of responsibility that I sign the 2010 budget so that this appropriated expenditure may be rapidly utilised to accelerate initiatives to enhance the pace of development of our nation.
“I sign this budget, authorising aggregate expenditure of N4.6tn, mindful of the many challenges facing the country and the need to intervene quickly to address these multifaceted issues.
“However, I am encouraged by our unwavering resolve and collective commitment to overcome any attendant adversity.”
He said, “The cabinet, as recently reconstituted, understands the importance of delivering on this administration’s promises to provide Nigerians with critical infrastructure in terms of power, efficient transport system, opportunities for food security and wealth creation, enhanced education and healthcare services, physical security and access to justice, sustainable economic development and political empowerment, security and development in the Niger Delta, and across the nation.
“I,therefore,urge the honourable ministers to ensure proper and efficient administration of their sectoral budgets.
“Consequently, increased emphasis will be placed on monitoring the deliverable by MDAs(Ministries, Departments and Agencies) by tracking the outcomes and outputs they achieve with the financial and other resources appropriated in the budget, over which they have stewardship.
“In this regard, the Office of the Minister for Special Duties will be structured and empowered to undertake the task of monitoring and evaluation of all government projects and activities.
“This administration will speedily move to identify and resolve impediments to implementation, rewarding excellence in performance and applying sanctions where necessary.”
The Minister of Finance, Dr. Olusegun Aganga, who spoke with journalists after the budget signing, allayed fears over government’s ability to finance the budget deficit.
Asked to explain how the government intended to fund the N1.3tn deficit, he said, “I think that has been made clear from the beginning.”
Aganga added, “There are other sources of revenue which we are looking at; there were some mention of sales of some assets and it has been mentioned that we are going to raise a bond this year, we are going to the international capital market this year, of about $500m.
“But I think the most important thing we should understand is that in a recession, there is nothing wrong about spending, in fact if you look at any of the western world they all have deficit.
“The deficit is growing at an alarming rate.
“So, the most important thing for us is to make sure that in spending we get good value for the money spent, that it is spent in areas where we generate both social and economic returns, that is what is critical and that is why we should all be pleased that the Acting President made it very clear today (Thursday) that this administration is going to be heavily focused on the execution of the budget.”
Aganga also denied reports that the government intended to borrow about $915m from the World Bank to finance the budget.
He said, “This is absolutely wrong; we are not borrowing a billion dollars to fund the budget.
“I think what they are referring to is something which we are working on with the World Bank.
“So it is not one billion dollars borrowing upfront; it doesn’t work like that. It has nothing to do with the budget.”
The minister also dismissed reports that the government’s commitment to its joint venture cash calls would have a dismal effect on the budget.
Aganga added that the Ministry of Finance would focus on three areas – managing the national revenue; enhancing the quality of expenditure; and managing excess revenue.
He said, “It is something that is going to help the growth of the economy and it is something that we have been waiting for and it is something that has been done.
“My focus now will be on three major things, one is about the management of our revenue, which will make sure that there are no leakages; making sure that we risk manage whatever we need to risk manage.
“Then secondly, we are looking at enhancing the quality of spending. It is okay to spend but it is important that you spend wisely and people are held accountable.
“You may have heard what the Acting President said. He made it very clear that the minister in charge of special duties has been mandated to make sure that we get real value for money spent.
I am a big fan of Dagrin and I have been listening to him for almost 3 years. His 1st album was released in 2005 and his latest Album CEO which was released in 2009.His loss is something that would touch me for a very long time. DaGrin, I love you and I know Nigerians would miss you so much..Condolence to his family.We have just lost one of the most talented artist to come out of Nigeria. Song By Oritse Femi ft Da Grin & Rymzo Mercies of the Lord (Remix) God the almighty is the giver and taker of life, we came into this world as dust and we would return as dust. Olaitan Olaonipekun (1987 2010) also known as DaGrin personified the hustle and struggle of Nigerians. In Honour of DaGrin
