Binder7777, friday june 13, 2014

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Sanctity of Truth Facebook.com/newtelegraph

Friday, June 13, 2014 Vol. 1 No. 115

twitter.com/newtelegraph1

www.newtelegraphonline.com

Nigeria’s most authoritative newspaper in politics and business

N150

FG pools $2.6bn to boost electricity network

lShell shuts in 40,000 oil barrels per day Adeola Yusuf and James Nwabueze power sector has Nigeria’s received $2.6 billion from

financial institutions to enhance its transmission network. This follows the approval of President Goodluck

Jonathan as recommended by the National Economic Council (NEC) to disburse $1.6 billion which would be sourced from the lega-

cy assets of the National Integrated Power Projects (NIPP) that are currently being privatised by government. Minister of Power, Prof. Chinedu Nebo, dropped the

hint yesterday in Abuja during a meeting with the Bankers’ Forum. He announced four other financial boosts that are expected for the transmission network in the coun-

try, which brought up the total to $2.555 billion. These include $500 million from World Bank (WB), $150 million from African Development Bank CONTINUED ON PAGE 3

Defect and lose seats, Jega tells politicians

lJonathan warns of bid to truncate democracy Onyekachi Eze and Anule Emmanuel ABUJA

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ational Chairman, Independent National Electoral Commission (INEC), Prof. Attahiru Jega, yesterday warned politicians holding elective positions that they risked losing their seats should they defect from the political party on whose platforms they get into power. He said in Abuja at the All Nigeria Political Parties and Political Stakeholders’ Summit that INEC was proposing a bill to the National Assembly so that any elected political officeholder who joins any other political party other than the one on whose platform he was first elected into office, will lose his seat. Also at the occasion, President Goodluck Jonathan warned of plans by CONTINUED ON PAGE 2

APC convention: Delegates to vote by zones }3

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Artistes performing during the opening ceremony of the World Cup in Sao Paulo, Brazil...yesterday.

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Confab in rowdy session over June 12 Louis Achi and Onwuka Nzeshi ABUJA

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ational Conference delegates were sharply divided yesterday over a motion seeking to recognise June 12 as Democracy Day and the

acclaimed winner of the June 12, 1993 presidential election, the late Chief MKO Abiola as Nigeria’s hero of democracy. The motion sponsored by Hon. Orok Otu Duke, a

delegate from Cross River State, sought the leave of the conference to pay tributes to Abiola, his late wife, Kudirat and all those who died in the struggle to revalidate the historic June

12 election, whose results were annulled by military president, Gen. Ibrahim Babangida. As soon as the motion was introduced, there was uproar as some delegates

who did not see its essence protested while those who felt it was appropriate hailed the motion. A cross-section of delegates from the South supCONTINUED ON PAGE 2

Sultan urges Jonathan to reconsider dialogue with Boko Haram }4


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