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Godswill Akpabio, Nigeria’s Senate President has said Aliko Dangote, the chairman of the Dangote Group shamed successive governments by completing 650,000 barrels per day refinery.
Akpabio said this when he led the leadership of the 10th Senate on a tour of the Refinery in Lagos. He referred to the refinery as the 9th wonder of the world.
Akpabio, emphasised that detractors of the refinery and “dream killers” have all been silenced and that indeed, previous governments have been put to shame with the completion of the project.
Akpabio stated that the whole Nigeria couldn’t make refineries function in Kaduna, Port Harcourt and Warri, but that Dangote and his team have proven that it is possible to dream and achieve it in Nigeria.
He further said the shame that came with the discovery of oil in Nigeria in 1958 has been removed by Dangote alluding to a report that India does not have oil but has refineries from where the country exports refined products, while noting that the inability of the nation to refine its oil has brought untold hardship on Nigerians so much so that Belgian government recently ban the exportation of dirty and condemned fuel to the country to West African country just because we can’t refine our own products.
“They told us in Abuja that Dangote Refinery is farce but we have come here and see for ourselves that the refinery is alive and running. Dangote has put to shame a lot of people. They are wondering how it will be possible for a single individual to accomplish what a whole nation could not accomplish; what 240 million people could not maintain; what a continent could not do and then one person will build 650,000bpd project”, the Senate President said.
“They keep wondering how one person can succeed where nations have failed; where continent has failed. But Dangote has done it. It is highly commendable. We came to see the refinery because we in the current senate believe in the Nigerian dream. We didn’t come as a doubting Thomas but we came because we believe the project, we came to rekindle the hope of Nigerians and the Nigerian’s can do spirit”, he added.
The Senate President also said Dangote deserved all the accolades for this feat noting that ordinary residence of Nigeria’s Vice-President could not be completed until after 14 years.
He assured that the National Assembly will give it what it takes to protect the project because its one project that Nigeria and indeed Africa should take the ownership and must be protected jealously.
He said the Senate and the entire National Assembly would come up with a robust legislation that would protect the project and others like it.
“Mr. Dangote, I pity you a lot because even your friends will envy you simply because they will keep wondering how can you succeed when nations, and continents have failed. Now that we have seen for ourselves, we are here to announce our own endorsement of this major project. It is also shocking to see that we produce sufficient fertilisers for Nigeria and enough to be exported.
“As I said we will do our report and we will speak to Mr President to put a stop to fertilizer import to Nigeria. You will hear from us soon”, Akpabio said.
The critical discussions on the new national minimum wage between the Federal Government and Organised Labour are poised to conclude today, with all eyes on President Bola Tinubu’s final decision.
The negotiations, which have seen proposals varying widely, are under pressure as the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) leaders have set a Monday deadline for resolution.
Last Friday, the Tripartite Committee on National Minimum Wage wrapped up its deliberations with the government and the Organised Private Sector settling on ₦62,000.
However, labour has maintained its stance, pushing for a ₦250,000 minimum wage, significantly higher than the government’s proposal.
The Nigeria Governors Forum voiced concerns, labelling any wage above ₦60,000 as unsustainable for state administrations. This contention highlights the ongoing struggle to balance worker demands with governmental fiscal capabilities.
Speaking to Punch, labour representatives disclosed that the outcome now hinges on President Tinubu’s response to the committee’s recommendations.
In a notable development, NLC President, Joe Ajaero, along with other senior union leaders, are currently attending an international labour conference organized by the International Labour Organisation in Geneva, Switzerland.
Labour plans to convene a National Executive Council meeting upon the leaders’ return. At this meeting, the president’s feedback will determine the future course of action, including possible strike measures.
The labour leader that spoke with Punch said, “We have submitted the report to the president and we are waiting for him to make his decision. That is the most important thing and that is what we are all waiting for.
“As it stands some of us are on the way to Geneva for the ILO conference. Some of us are going today (Sunday), some have gone already while others w“Before we can even hold a NEC meeting, we must come back from Geneva first. Also, we are trying to be careful so the government won’t say Labour is inciting citizens against the government. Also, you know they are in charge of the military so we are trying to be careful about that. This is why we are waiting.”
When asked about Monday’s ultimatum, another source within the NLC said, “Well, we have sent a report to the committee and we are expecting the president to act on it.
“We should hold a National Executive Council meeting regarding the ultimatum when we return from Geneva. It is very important for us to be there but right now, we are patiently waiting for the decision of Mr President.”
A coalition of Civil Society Organisations under the auspices of the Middle-Belt Pan Nigerian Forum has called on the 2023 Labour Party (LP) presidential candidate, Peter Obi, to accept the outcome of the 2023 presidential election won by Asiwaju Bola Tinubu.
The group said in a statement by its spokesperson, Danladi Ceceko, that the 2023 election was one of the most transparent elections in the country and reflects the will of Nigerians. It added that the verdict of the Supreme Court further validates the outcome of the polls.
The group spoke against the backdrop of the recent statement by Obi in which he compared the Nigerian electoral process to that of South Africa and described the 2023 polls as a show of shame.
However, Ceceko urged Obi to stop discrediting institutions such as the Independent National Electoral Commission (INEC) simply because he lost in the 2023 elections.
The group added that Obi himself had benefited from the same institution he is discrediting now when he was restored as the Anambra State Governor.
“It is evident for all to see that the 2023 general elections, especially the presidential poll, were among the freest and most transparent in our history,” Ceceko said.
“The outcome, upheld by the Supreme Court, is a true representation of the will of Nigerians, and it is time for all participants to accept the results and move forward.
“It is quite unfortunate that Mr. Peter Obi would discredit our institutions like INEC and the Supreme Court, which validated the credible elections conducted by INEC.”
Ceceko noted that if INEC was as problematic as some politicians have claimed, it raises the question of why there are calls from various quarters for the State Independent Electoral Commissions (SIECs) to be disbanded and for INEC to conduct local government elections instead.
“It is evident that the political elite who frequently malign the Independent National Electoral Commission (INEC) are often the same ones who oversee the worst elections in the country through the State Independent Electoral Commissions (SIECs)”.
The coalition also challenged the LP candidate to desist from biased comparison as the South African elections were not without their own challenges and technical glitches.
“We really need Mr. Peter Obi to do his due diligence and research before comparing INEC to other countries’ electoral bodies.
“The South African election also experienced technical glitches, which were well-documented.”
“It is hypocritical of Mr. Peter Obi to claim that the election which brought Governor Alex Otti of Abia was credible and transparent, while asserting that the election he lost was marred by irregularities.
It is worth noting that both elections were conducted by the same INEC under the leadership of Prof. Mahmud Yakubu.
“Furthermore, it is important to remind Mr. Peter Obi that he is one of the biggest, if not the biggest, beneficiaries of the very institutions he is currently maligning. It was the same Supreme Court that restored his allegedly stolen mandate in 2003.
Additionally, it was the same INEC that conducted the election that secured his second term victory in Anambra.”
The coalition argued that technical glitches during electoral processes are not peculiar to Nigeria and should, therefore, not be a basis to invalidate the entire process.
“Because there was a technical glitch on the portal of the South African commission, does that invalidate the outcome of the election in which the ruling ANC won?” the spokesperson questioned. “I think it is about time we start respecting our institutions and join hands with other Nigerians to make them work and even better,” the statement added.
A chieftain of the New Nigeria Peoples Party (NNPP), Ambassador Olufemi Ajadi Oguntoyinbo, has called on governors across Nigeria to reduce their own salaries as a gesture of solidarity with the common worker.
This call comes in response to state governors’ collective rejection of the federal government’s proposed ₦60,000 new monthly minimum wage.
Halima Ahmed, the Acting Director of Media Affairs and Public Relations of the Nigeria Governors’ Forum (NGF), communicated the rejection under the banner of the NGF.
The Forum argued that adopting such a wage would financially cripple many states, which would end up using their entire monthly allocations from the Federation Account solely on salaries.
Speaking from Ibadan, Oyo State, Ajadi criticized the governors’ stance as “insensitive” and “wicked,” pointing out the disparity between their salaries and the proposed wage for workers.
He highlighted that the labour unions themselves had not yet accepted the government’s proposal, implying that the governors’ rejection was premature.
In his statement, Ajadi commended Edo State Governor Dr. Godwin Obaseki for independently initiating a ₦70,000 monthly minimum wage in his state.
He suggested that other governors follow his lead not just in wage adjustment but also in personal salary reductions.
The statement reads, “I am totally shocked that the governors could come out to say that they cannot pay the proposed ₦60,000 minimum Wage. That pronouncement by the governors showed that they are insensitive to the plight workers and the masses. I see it as a wicked pronouncement.
“In the first instance, they were too hasty in their reactions, as the Labour Unions have not even agreed to the proposal. If the governors are serving the people as they usually claim, they should cut their own salaries to ₦60,000 too. I will also suggest that the governors should be paid according to their qualifications. They should realise that the workers attend the same market their wives and children attended.
“Since the removal of subsidy, the Federal Government has jacked up the monthly allocation to the states. What are the governors doing with the money. Part of the money should be used to pay the new minimum wage when agreed by the tripartite committee. President Bola Tinubu has severally warned the governors to make use of the increase in the monthly allocations to better the lots of their citizens. So one is shocked that the governors have the effrontery to reject a merely N60,000 proposal.
“The question we need to even ask is, what can ₦60,000 buy in the present state of economy. It can’t feed a worker for two weeks, talk less of their dependants. When finally there is an agreement on the new minimum wage, I urge the governors to be sincere and ensure the prompt payment in their states.”
The pump price of Premium Motor Spirit, popularly called petrol, should drop to about N300/litre upon the commencement of massive production by the Dangote Petroleum Refinery and other indigenous producers, operators of modular refineries stated on Sunday.
However, they pointed out that this would be achieve when the government ensures the provision of adequate crude oil to local refiners, stressing that refineries abroad were ripping off Nigeria.
Speaking under the aegis of the Crude Oil Refinery Owners Association of Nigeria, they explained that what happened to the cost of diesel after Dangote started producing it, would happen to petrol price once it is being produced massively in Nigeria.
CORAN is a registered association of modular and conventional refinery companies in Nigeria.
“A lot of companies today benefit from the importation of petroleum products at the expense of Nigerians,” the Publicity Secretary, CORAN, Eche Idoko, stated.
He told our correspondent that “if we begin to produce PMS today in large volumes, provided there is adequate crude oil supply, I can assure that we should be able to buy PMS at N300/litre as the pump price.
“Why make Nigerians buy it at almost N700/litre when you know that if you allow refineries work the price will come down? Is it because you want to satisfy the global refiners abroad that are making so much from us?”
When told that there are arguments that it is not possible to have such a drop in price because crude oil, the raw material for PMS, is price in dollars, the CORAN official insisted that petrol price would crash once it is being produced massively by indigenous refiners.
He said, “We were selling diesel for N1,700 to N1,800/litre, but as soon as Dangote refinery started production he brought down the price to N1,200/litre. What other proofs do you need?
As I speak to you now there is every tendency that before December diesel price will drop further. The only reason reason why diesel is not doing below N1,000/litre is because of our exchange rate.
“If the exchange rate drops, diesel will drop below the N1,000/litre price. Now the exchange rate concern is because Dangote imports crude. If he is not importing, the exchange rate may not have so much effect, though he is still buying crude in dollars (in Nigeria) anyway.”
On May 18, 2024, The PUNCH reported that Africa’s richest man, Aliko Dangote, stated that following the laid-down plans of the Dangote refinery, Nigeria would no longer need to import petrol starting June this year.
Dangote had also stated that his refinery could meet West Africa’s petrol and diesel needs, as well as the continent’s aviation fuel demand. He spoke at the Africa CEO Forum Annual Summit in Kigali, expressing optimism about transforming Africa’s energy landscape.
“Right now, Nigeria has no cause to import anything apart from gasoline (petrol) and by sometime in June, within the next four or five weeks, Nigeria shouldn’t import anything like gasoline; not one drop of a litre,” the billionaire had declared.
Also, Dangote had earlier in the year crashed the pump price of diesel to N1,200/litre when the commodity was selling at between N1,700 and N1,800/litre at the time.
He further dropped the price to below N1,000/litre, but could not sustain this price due to the rise in exchange rate. The refinery eventually returned the price to the initial rate of N1,200/litre.
Speaking on Sunday, the CORAN spokesperson stated that this was why the modular refiners had been calling for the sale of crude oil at the naira equivalent of the dollar rate.
“We have told them (government) that even the dollars that you are asking us to use and buy this product, it is detrimental to the country. Strengthen the naira. We will buy at the international market rate, but at a naira equivalent.
“These are the issues and they know these things but we can’t explain why they really can’t take decisions to change these concerns.
“Get crude to local refineries, allow crude purchase in naira equivalent, make the environment business-friendly and watch locally produced petroleum product prices crash,” Idoko stated.
Nigeria currently has 25 licensed modular refineries. Five of them are operating and producing diesel, kerosene, black oil and naphtha. About 10 are under various stages of completion, while the others have received licences to establish.
Operators of modular refineries earlier stated that aside from the five that are in operation currently, the remaining plants are embattled due to the major challenge of crude oil unavailability, a development that has stalled funding from financiers.
“Only about five of our members have completed their refineries. The others are having a major challenge.
“This challenge is that the people who are supposed to finance them have not disbursed financing for construction because they want some level of guarantee.
“A guarantee that if they finish the refinery, they are going to get feedstock, which, of course, is crude oil,” Idoko had explained.
Oil marketers also believe that the cost of petrol should be lower than its current price once its production begins in Nigeria.
They welcomed the comment of Dangote that his refinery should start pumping out petrol this month, and expressed hope that the cost would be less than the price which the Nigerian National Petroleum Company Limited currently sells.
“We expect a reduced price for locally produced PMS, as I’ve earlier told you,” the National President, Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, stated.
Maigandi, while speaking from Saudi Arabia with our correspondent on Sunday, also stated no date has been communicated to marketers on when Dangote would release petrol to the market. Officials of Dangote refinery have remained mute on this.
“It is a welcome development if the refinery can start releasing PMS this month because as marketers we are currently set to start buying the product from the plant,” Maigandi stated.
The IPMAN president earlier stated that marketers were discussing with the managers of the plant, but not specifically on petrol pricing.
“We have been discussing, but not about the price of petrol yet, rather on other matters such as the registration of members for the purchase of petrol and diesel from the refinery.
“It is true that we have started buying diesel from them, but you have to register with the company first. So a general registration is ongoing,” he explained.
Maigandi, however, stated that though marketers had yet to receive the projected price for petrol from the plant, dealers would want to see a PMS price of about N500/litre from the Dangote refinery.
“We are looking at having it (PMS) at any price below the NNPC rate. The price which NNPC sells petrol is N565.50/litre, so we are expecting something below that price, maybe around N500/litre,” Maigandi stated.
The oil dealers also joined in the call for the provision of crude oil to local refiners, stressing that this would impact positively on the prices of refined petroleum products.
“Of course, it is important for crude to be made available to local refineries because this will surely affect petroleum products’ prices positively,” the IPMAN president stated.
Regulators speak
The spokesperson of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, George Ene-Ita, said he was sure that the government has guidelines for the provision of feedstock (crude) to indigenous refiners.
Ene-Ita promised to provide additional information on the matter, as he stated that he could not give further details at the time he was contacted by our correspondent.
Recall that the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, had earlier promised that the government would ensure that crude oil was supplied to domestic refiners.
He stated that in compliance with the provisions of Section 109(2) of the Petroleum Industry Act 2021, the NUPRC in a landmark move, had developed a template guiding the activities for Domestic Crude Oil Supply Obligation.
“The commission in conjunction with relevant stakeholders from NNPC Upstream Investment Management Services, representatives of Crude Oil/Condensate Producers, Crude Oil Refinery-Owners Association of Nigeria, and Dangote Petroleum Refinery came up with the template for the buy-in of all.
“This is in a bid to foster a seamless implementation of the DCSO and ensure consistent supply of crude oil to domestic refineries,” Komolafe had stated.
The federal government has unveiled a lineup of activities to celebrate the 25th anniversary of Democracy Day, marking twenty-five years of continuous democratic governance in Nigeria.
The announcement was made in a notice issued by Abdulhakeem Adeoye, acting on behalf of the Director of Information and Public Relations in the Office of the Secretary to the Government of the Federation (OSGF).
The notice outlines that the celebration will start on Tuesday, June 11, with a symposium held at the State House Conference Centre, Presidential Villa, Abuja, commencing at 9:00 am.
Following the symposium, a youth conference is scheduled to take place at Ladi Kwali Hall, Abuja Continental Hotel, Abuja, starting at 6:00 pm.
The agenda for Wednesday, June 12, includes a grand parade at Eagle Square, Abuja, at 8:00 AM, followed by a dinner at the State House Banquet Hall, Presidential Villa, Abuja, at 6:00 PM.
“The programmes lined up for the celebration include a symposium on Tuesday, June 11, at 9:00 AM at the State House Conference Centre, Presidential Villa, Abuja.
“Later that day, a youth conference will hold at Ladi Kwali Hall, Abuja Continental Hotel, Abuja, at 6:00 PM.
“A grand parade will take place on Wednesday, June 12, at 8:00 AM at Eagle Square, Abuja,” followed by “a dinner at the State House Banquet Hall, Presidential Villa, Abuja, at 6:00 PM,” the noice read.
Furthermore, the notice assured to provide additional updates as the celebration comes closer.
Osun State Governor, Ademola Adeleke, has urged his daughter, Nike Adeleke, to find a partner and get married.
Adeleke gave the urge during a Q&A session on Nike’s Instagram page on Saturday.
Nike, who is approaching her 29th birthday, asked her father how he felt about her not being married yet.
“I am now 28 and I am about to be 29. How do you feel about me not being married yet?” she inquired.
In response, Governor Adeleke expressed his expectation for her to settle down soon, emphasizing that she is not getting any younger.
He then gave her a one-year ultimatum to get married.
“Better start getting ready to get married. That is the next thing. You think you are young? I am expecting all those your toasters, better bring one so you can come and tell me, ‘Dad, this is the one I am going to marry,'” he said.
He further highlighted that he had married and had Nike’s brother, Adesina, by the age of 28.
“Do you know that at the age of 27, 28 I got married and I had your brother Adesina? You are now 28, I am giving you one more year.”
[PRESS RELEASE] President Tinubu Approves New Leadership for National Council on Climate Change
Admin![[PRESS RELEASE] President Tinubu Approves New Leadership for National Council on Climate Change](/media/k2/items/cache/3eac5e9018cf651c5d317da72267d4a3_S.jpg)
In accordance with his commitment to actualize Nigeria's green industrial vision, boost investor confidence, and unlock sustainable economic value through various climate finance instruments, *President Bola Tinubu has approved the appointment of Dr. Nkiruka Maduekwe as the Director-General/Chief Executive Officer of the National Council on Climate Change (NCCC)* in interim capacity, pending the confirmation of her appointment by the NCCC Supervisory Council.
The President has also approved that Dr. Maduekwe, 39, who holds a Bachelor of Law degree; a Master’s degree in Environmental Law & Policy from the University of Dundee (UK), and a Doctorate degree in Law from the University of Hull (UK), is to serve as the Co-Chairperson of the Intergovernmental Committee on National Carbon Market Activation Plan (NCMAP).
Dr. Maduekwe has over 15 years of national and international experience in climate policy development and project implementation. She previously served as Nigeria National Coordinator, Climate Parliament. Climate Parliament is an international, multi-partisan network of legislators working worldwide to help solve the climate crisis and accelerate the transition to renewable energy.
Dr. Maduekwe was also the legal adviser to the NCCC Director-General.
Furthermore, the President has approved the appointment of *Mr. Ibrahim Abdullahi Shelleng, 40, as the Senior Special Assistant to the President on Climate Finance & Stakeholder Engagement, Office of the President.* He is seconded to the National Council on Climate Change (NCCC) Secretariat, where he will handle all matters related to Climate Finance & Stakeholder/Donor Relations.
The President has also approved that *Mr. Shelleng is to assume the position of Secretary of the Intergovernmental Committee on National Carbon Market Activation Plan (NCMAP)* and serve as a member of the Presidential Committee on Climate Action and Green Economic Solutions, as well as the Presidential Steering Committee on Project Evergreen.
Mr. Shelleng, who holds a Master’s degree in Business Administration (MBA) from Ahmadu Bello University, Zaria, has served in leading roles across multiple financial institutions, and was Head of Business Development for the Nigeria Mortgage Refinance Company PLC (NMRC) before his appointment as Senior Special Assistant to the President.
The President has also approved the appointment of *Mr. Olamide Fagbuji, 44, as the Senior Special Assistant to the President on Climate Technology and Operations, Office of the President.* He is seconded to the National Council on Climate Change (NCCC) Secretariat, where he will oversee the digitalization of a new open procurement process and cross-departmental procedural optimization initiative.
Mr. Fagbuji served as Special Assistant to the President on Economic Matters under the previous administration, and was most recently the Technical Adviser to the Director-General of the National Council on Climate Change (NCCC) on Policy Research and Strategy. He is a policy analyst and computer scientist.
By the directive of the President, the aforementioned appointments take immediate effect.
The President expects the new appointees to bring their expertise and discipline to bear in these very important assignments in pursuance of the nation’s aspiration on green industrial development and climate action for sustainable growth and national prosperity.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
[PRESS RELEASE] President Tinubu Approves Mandate for Office of The Special Presidential Envoy on Climate Action; Expands Green Economy Committee Membership
Admin![[PRESS RELEASE] President Tinubu Approves Mandate for Office of The Special Presidential Envoy on Climate Action; Expands Green Economy Committee Membership](/media/k2/items/cache/a5c60deb415fc48110ae5caab38e4a47_S.jpg)
In furtherance of his establishment of the Office of the Special Presidential Envoy on Climate Action (SPEC) and to bring clarity to the functions of the office within the climate and green economy ecosystem, President Bola Tinubu has approved the terms of reference for the pioneering Office of SPEC.
By the President’s directive, the Office of the Special Presidential Envoy on Climate Action shall be:
(1) The lead negotiator on climate-related matters on behalf of the Federal Government of Nigeria, reporting directly to the President of the Federal Republic of Nigeria.
(2) The lead negotiator on carbon market and management initiatives on behalf of the Federal Republic of Nigeria with a mandate to integrate the work of the Intergovernmental Committee on National Carbon Market Activation Plan (NCMAP) into the climate action plans of the Federal Government of Nigeria, reporting directly to the President of the Federal Republic of Nigeria.
(3) The supervising interface between the Secretariat of the National Council on Climate Change (NCCC) and the NCCC Supervising Council, which is chaired by the President.
(4) Coordinator of all climate action-related activities across Federal Ministries, Departments, and Agencies, legislative, and subnational entities which directly impact the President's climate action and green economic agenda with a mandate to directly engage other nations, international organizations, and non-governmental entities to build coalitions and advance global climate goals in accordance with Nigeria's national interest.
(5) The focal point of the Federal Government of Nigeria's engagement with the United Nations Framework Convention on Climate Change (UNFCCC), Conference of the Parties (COP) meetings, and other related international meetings on climate-related and green economic matters.
(6) The coordinator of activities of all relevant Federal Ministries, Departments, and Agencies towards the successful fulfilment of Nigeria's Nationally Determined Contributions (NDCs).
(7) The secretary of the Presidential Committee on Climate Action and Green Economic Solutions, which is chaired by the President.
(8) The chief diplomat and lead representative of the Federal Republic of Nigeria on all climate-related engagements and negotiations while supervising the Energy Transition Office.
(9) The focal-point authority on all non-executive activities related to the operations of the National Council on Climate Change (NCCC) with delegated authority to oversee the activities and operations of the NCCC secretariat for frequent reporting to the President in between meetings of the NCCC Supervisory Council.
(10) The lead interface on engagements with the Central Bank of Nigeria, Federal Ministry of Finance, Federal Ministry of Power, Federal Ministry of Environment, other critical Federal Government of Nigeria institutions concerning the administration and coordination of climate-related donor finance, renewable energy finance and green industrial growth management.
(11) Chairman of the Presidential Steering Committee on Project Evergreen.
Furthermore, the President has approved the expansion of the membership of the Presidential Committee on Climate Action and Green Economic Solutions (P-CAGE).
The committee comprises the following additional members:
(1) Representative, Federal Ministry of Budget and Economic Planning
(2) Representative, Federal Ministry of Foreign Affairs
(3) Representative, Federal Ministry of Petroleum Resources (Gas)
(4) Representative, Federal Ministry of Innovation, Science & Technology
(5) Representative, NNPCL
(6) Special Assistant to the President on Energy Transition, Ms. Yasmin Mohammed
(7) Representative, Energy Transition Office, Mr. Somkele Awa-Kalu.
The Presidential Committee on Climate Action and Green Economic Solutions is set to be inaugurated in July.
The President emphasizes diligence, dedication, and patriotism in the execution of this critical national assignment with a view to realizing his administration’s agenda on climate action and green industrial growth for the long-term benefit of the Nigerian people and Africans at large.
Segun Imohiosen
Director, Information
Abia, Benue, Cross River, Akwa Ibom, 18 Other States Spent ₦251 Billion On Debt Servicing In Nine Months – Report
AFOLABI
Over the course of nine months since assuming office, twenty-two states have collectively disbursed ₦251.79 billion to service debts accumulated by preceding administrations.
According to Sunday PUNCH, the states obtained fresh loans of ₦310.99 billion between July 2023 and March 2024, despite increased monetary allocations from the Federation account.
The data was sourced from the budget implementation reports of individual states, accessed through Open Nigerian States, a budgIT-supported platform that acts as a repository for government budget information, with budgIT being a Nigerian civic organization advocating for transparency.
The performance report is compiled quarterly and released within four weeks following the conclusion of each quarter.
The report contains the original approved budget and revised/final budget appropriations for the year 2023 for each organizational unit, categorizing expenditures into core economic classifications including personnel, overheads, capital, and others.
Additionally, it incorporates the actual expenditures for quarter Q3, attributed to each organizational unit, along with the cumulative expenditures for the year to date, and balances against each of the revenue and expenditure appropriations.
An analysis conducted by Saturday PUNCH revealed that the states listed include Abia, Akwa Ibom, Anambra, Benue, Cross River, Delta, Ebonyi, Ekiti, Jigawa, Kaduna, Kano, Katsina, Kebbi, Kogi, Niger, Ondo, Osun, Plateau, Rivers, Sokoto, Taraba, and Zamfara.
Further examination of the report revealed that the states encountered a challenging endeavor to revitalize their respective economies, having inherited a minimum of ₦2.1 trillion in domestic debts and $1.9 billion in external debts from their predecessors.
Investigations also revealed that the states grappled with numerous months of unpaid workers’ salaries and increasing pension liabilities, amid calls for the implementation of the nationally agreed minimum wage.
Additionally, they faced challenges posed by rising inflation, soaring prices of goods and services, and declining purchasing power.
In Abia State, Dr. Alex Otti, the sole governor under the Labour Party platform, inherited a total domestic debt of ₦104,573,334,025.73 and an external debt of $95,632,239.04.
Meanwhile, Benue State Governor, Hyacinth Alia, assumed office with ₦143,368,150,982.89 in domestic debt and $30,472,977.14 in foreign debt.
Governor Bassey Otu of Cross River State was burdened with ₦175,198,799,155.96 in domestic debt and $215,754,975.33 in foreign debt.
Similarly, Akwa Ibom State Governor, Umo Eno, was faced with a domestic debt of ₦219,617,660,991.63 and $46,569,647.22 in external debt, among other challenges.
Recall that after the removal of fuel subsidy and the unification of the foreign exchange markets, there was a significant rise in states’ earnings from the Federation Account Allocation Committee, totaling N3.34 trillion in the post-fuel subsidy era.
With the improved earnings, states had the autonomy to settle outstanding loans acquired by the previous administration, particularly during the third and fourth quarters of 2023.
This financial enhancement afforded the states the opportunity to address fiscal obligations and alleviate financial burdens inherited from previous administrations.
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A chieftain of the All Progressives Congress (APC) Osun State, Olatunbosun Oyintiloye has decried the recent exit of multinational corporations from Nigeria.
He adviced President Bola Tinubu to bolster the economy so the nation would retain and attract more investors.
The former state House of Assembly member highlighted the potential repercussions of multinational departures.
Speaking to newsmen in Osogbo, Osun State on Sunday, he identified diminished foreign investment, extensive job losses, and economic downturn as some of the effect of the multinationals exit.
Oyintiloye cited notable exits like Kimberly-Clark, the makers of Huggies, alongside GlaxoSmithKline Consumer Nigeria Plc and others, which have either fully or partially ceased operations.
He acknowledged Tinubu’s efforts to stabilise the economy, but pointed out the urgency of addressing business environment hurdles cited by departing firms.
The APC chieftain insisted that the government needs to restore Nigeria as an attractive destination for multinationals and empower local manufacturing industries.
He proposed flexible foreign exchange policies, tax breaks, and incentives to retain existing investors.
According to him, “There is no doubt that the president has been putting measures in place to revamp the economy, increasing foreign direct investment and also making local industries vibrant and competitive.
“Government should create a more flexible and transparent foreign exchange policy to address scarcity issues , reduce the inflationary trend which has reduced consumers’ demand and purchasing power, Create tax breaks, review economic and fiscal policy.
“The government should also look at how to give incentives to some of the multinationals that are still operating in the country.”
The government of President Bola Tinubu has been sued over failure to publish spending details of the loans obtained by the governments of former presidents since the return to democracy in 1999.
The suit was filed against the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Debt Management Office (DMO) by Socio-Economic Rights and Accountability Project (SERAP).
In the suit number FHC/L/CS/353/2024 filed last Friday at the Federal High Court, Lagos, SERAP is asking the court to direct and compel Tinubu’s government to publish the loan agreements obtained by the governments of former presidents Olusegun Obasanjo, Umaru Musa Yar’Adua, Goodluck Jonathan and Muhammadu Buhari.
Aside publishing the spending details of any such loans, the organisation is also asking the court to direct and compel the government to include the interests and other payments so far made on the loans.
According to SERAP, publishing the spending details of such loans will help to explain why, despite several billions of dollars in loans obtained by successive governments, millions of Nigerians continue to face extreme poverty and lack access to basic public goods and services.
The organisation is argues that accountability of government to the general public is a hallmark of democratic governance, which Nigeria seeks to achieve.
The suit filed on behalf of SERAP by its lawyers Kolawole Oluwadare and Andrew Nwankwo, read in part: “Publishing the loan agreements would improve public accountability in ministries, departments and agencies (MDAs).”
“Nigerians are entitled to information about what their government is doing in their name. This is part of their right to information.”
“Publishing the agreements and spending details would allow the public to see how and on what these governments spent the loans and foster transparency and accountability.”
“Publishing the loan agreements signed by the governments of former presidents Olusegun Obasanjo, Umaru Musa Yar’Adua, Goodluck Jonathan and Muhammadu Buhari, and widely publishing the agreements would allow Nigerians to scrutinise it and to demand accountability for the spending of the loans.”
“According to Nigeria’s Debt Management Office, the total public domestic debt portfolio for the country’s is N97.3 trillion ($108 billion). The Federal Government’s debt is N87.3 trillion ($97 billion).”
“Nigeria paid $6.2 billion in 2019 as interest on loans while the country paid $6.5 as interest in 2018. Nigeria also paid $5 billion as interest on loans in 2017 while the country paid $4.4 billion as interest in 2016. For 2015, the interest paid on loans was $5.5 billion.”
“Substantial parts of the loans obtained by successive governments since the return of democracy in 1999 may have been mismanaged, diverted or stolen, and in any case remain unaccounted for.”
“Persons with public responsibilities ought to be answerable to the people for the performance of their duties including the management of the loans obtained between May 1999 and May 2023.”
Meanwhile, no date has been fixed for the hearing of the suit.
The city of Aba in Abia State has been engulfed in tension following a series of reprisal actions by soldiers in response to the killing of five of their colleagues at Obikabia Junction, Ogbor Hill, on Thursday, May 30.
The deceased soldiers were ambushed by unknown gunmen who also set ablaze two military vans and their checkpoint.
In the days following the attack, soldiers conducted extensive raids across Aba, targeting motorists and residents in what appeared to be a quest for retribution.
These operations have significantly heightened fear among the populace, with many preferring to stay indoors to avoid potential arrest or assault.
The atmosphere of fear was exacerbated by the presence of military helicopters patrolling the skies over Aba, observed continuously three days post-incident.
Despite Governor Alex Otti’s reassurances to innocent citizens that they can continue their daily activities without fear, the palpable tension has led to a shutdown of nightlife and a slow return to normalcy in the city.
Businesses, particularly in the Ogbor Hill vicinity where the initial attack occurred, have been slow to reopen, with proprietors and patrons wary of further military action.
Reports from Sunday Vanguard indicate that even local churches in the Obikabia area have suspended activities due to fears of military intrusion.
The economic impact of the military’s forceful response is considerable. A restaurant owner, identified as Mama Uche, reported losses exceeding ₦200,000 as perishable goods spoiled after she was forced to flee her establishment.
Similarly, a trader from Cemetery Market missed a significant supply contract due to the abrupt market closure and reported military blockades on the Abia-Rivers boundary.
Recreational spots and hotels have also felt the brunt of the military’s heavy-handedness, with reports of soldiers storming hotel premises, conducting room searches, and detaining guests and staff.
Some detainees have been released after profiling, yet others remain in custody without clear charges.
A laundry operator in one of the new hotels along Ukaegbu Road said soldiers invaded their hotel at about 2am, ransacked rooms and arrested all lodgers and staff members.
He said: “Soldiers invaded our hotel around 2am, ransacked all the rooms and arrested all lodgers and members of staff.
“We were moved to a military camp in Aba where some people were screened and released.
“But some are still being detained. Since the invasion of the hotel by the soldiers, guests no longer visit for lodging and relaxation.
“At the moment, people are afraid, no business because there is fear everywhere.
“We pray that the situation will soon return to normal for business to start booming again.”
[NaijaNews]
The Nigerians in Diaspora Commission (NiDCOM) has cautioned Nigerian citizens travelling through Switzerland regarding the possession of laser pointers at their airports, a statement issued on Friday by Gabriel Odu of Media, Public Relations and Protocols Unit of NIDCOM said.
This advisory follows the recent detention of Dr. Andrew Etsetowaghan at Geneva Airport for carrying a presentation pointer in his hand luggage after the pointers had been banned in Switzerland since June 1, 2019 of which he was not aware
Hon. Abike Dabiri-Erewa, Chairman/CEO NiDCOM, noted that many immigrants might be unaware of this regulation and urged Nigerian travelers to exercise caution to avoid similar incidents.
Dr. Etsetowaghan, a public health expert and Project Director at the Centre for Clinical Care and Clinical Research Nigeria, was detained on May 25, 2024, after attending a United States Department meeting in Geneva.
Dr. Etsetowaghan , who was part of an official delegation ,recounted his ordeal saying “Upon going through security at Geneva Airport, I was informed that my presentation pointer was not allowed in Switzerland.
“I was detained, had my belongings and documents seized, and was subjected to several hours of interrogation and solitary confinement in a cell.
“Despite my compliance, the treatment I received was inhumane, including limited access to bathroom facilities and being forced to sign documents in French under duress.”
He called for measures to prevent such incidents in the future and urged a review of the procedures and better awareness of the banned items to ensure travelers are well-informed.
Reacting to the incident, NiDCOM emphasized the importance of raising awareness about such prohibited items in Switzerland Airports and urged Swiss authorities to enhance their communication on such regulations, describing Etseowaghan’s ordeal as “avoidable”.
[Leadership]