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Showing posts with label The Economy. Show all posts
Showing posts with label The Economy. Show all posts

Fear of China's Domination: Joe Biden Imposes a series of tariffs on goods made in China

Fear of China's Domination: Joe Biden Imposes a series of tariffs on goods made in China

Biden &XI
Photo credit: BBC

The President of United States Joe Biden has imposed a series of tariffs on goods made in China following a revelationd that the Chinese are more than determined to dominate the world in such aspects.


According to President Biden, China is determined to dominate industries which includes : Steel and aluminum, Semiconductors, EVs and solar panels.


Consequently Biden has imposed heavy tariffs on them: 

25% on steel and aluminum,
50% on semiconductors,
100% on EVs,
And 50% on solar panels.




Biden criticized Donald Trump's measure against China but obviously taken Trump's options . 

Biden &XI
Photo credit: BBC

The President of United States Joe Biden has imposed a series of tariffs on goods made in China following a revelationd that the Chinese are more than determined to dominate the world in such aspects.


According to President Biden, China is determined to dominate industries which includes : Steel and aluminum, Semiconductors, EVs and solar panels.


Consequently Biden has imposed heavy tariffs on them: 

25% on steel and aluminum,
50% on semiconductors,
100% on EVs,
And 50% on solar panels.




Biden criticized Donald Trump's measure against China but obviously taken Trump's options . 

#MiddleEastAffairs: G7 working on measures against Iran, says British PM

#MiddleEastAffairs: G7 working on measures against Iran, says British PM


“We are urgently working with our allies to see what steps we can take together in a coordinated fashion to deter and condemn what Iran is doing,” Rishi Sunak said in the British parliament, citing discussions among Group of Seven (G7) leaders over the weekend.

“I spoke to my fellow G7 leaders; we are united in our condemnation of this attack.”

He added that the coordination of any measures, including sanctions, among allies would ensure they have maximum impact on Iran and those sanctioned.

Earlier, Italy, which holds the rotating presidency of the G7, said it was also open to new sanctions against individuals taking hostile action against Israel.

The G7 is comprised of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.


However, Iran has endures various economic sanctions and economic terrorism for the past 44 years.


Source: Aljazeera news 


“We are urgently working with our allies to see what steps we can take together in a coordinated fashion to deter and condemn what Iran is doing,” Rishi Sunak said in the British parliament, citing discussions among Group of Seven (G7) leaders over the weekend.

“I spoke to my fellow G7 leaders; we are united in our condemnation of this attack.”

He added that the coordination of any measures, including sanctions, among allies would ensure they have maximum impact on Iran and those sanctioned.

Earlier, Italy, which holds the rotating presidency of the G7, said it was also open to new sanctions against individuals taking hostile action against Israel.

The G7 is comprised of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.


However, Iran has endures various economic sanctions and economic terrorism for the past 44 years.


Source: Aljazeera news 

Bola Ahmed Tinubu: "Emi lokan and Sons" Nigeria Limited

Bola Ahmed Tinubu: "Emi lokan and Sons" Nigeria Limited

By Bolaji O. Akinyemi.



The overbearing influence of Seyi Tinubu over state affairs was first noticed prior to the Lekki Toll gate massacre of Nigerian youths who were out on a peaceful protest against police brutality. Seyi's company is alleged to hold the monopoly of right to the lighting and the camera system at the facility. Though, his role, or of the company was hidden from the prying eyes of the public but its effect set the stage for what will become the worse state onslaught against peaceful and unarmed civilians in human history. They set the stage for what was to follow by switching off the lights before the military opened fire on the citizens, sending countless to early grave. Till date, lack of public transparency still trails the tragedy.


The President and Commander in Chief of the Armed Forces at that time was Muhammadu Buhari, who by implication is responsible for ordering the shoot at sight of the peaceful protesters.


The worst human puppet in the history of national leadership, once you can find a narrative to appeal to his ego you have pulled the string to get the puppet to dance to your sound. Buhari will later confess what the narrative that got the order out was; "the young people want to overthrow my Government"!


Who pulled the string on the President?


Though unseen, Seyi and Father's hands can't be exonerated from the deaths at the toll gate, while the yoke remains Buhari's burden to bear. Truth has never been buried successfully, if time doesn't reveal it, characters will! 


Our King had hardly been crowned when the first son of Pastor Remi Tinubu for the President, Oluwaseyifunmi Tinubu , the Crown Prince of Lagos State and the Olu-Omo of Nigeria showed us their families mission to power. He showed up in the chamber of the state house pacing up and down needlessly during the Federal Executive Council meeting. The rudeness of his conduct not even his father could keep his pretence of. He was forced as it looks now, against his will to openly rebuke his son. Seyi according to Mr. President has no business being in the chamber during the FEC meeting.


Please, what business then does he have to be on the entourage to Qatar?


Tinubu said he will cut the cost of governance by limiting his entourage on foreign trips to 20 persons after the national outcry that greeted the trip to the COP28 UN Climate Change Conference in Dubai, the United Arab Emirates where over 1400 delegates were alleged to have made the trip, and about 590 of them were sponsored by the government at an alleged cost of #885 million to taxpayers.


"Emi lokan"; seems to be clearly defined, "Emi lokan and Sons" Nigeria Limited!


The entourage to Qatar included 3 members of the Tinubu immediate and extended family, 35 members of the main body who arrived in 2 separate jets and an advance team estimated at 40 persons who also flew in a separate jet. 


In all, 3 jets from the presidential fleet landed in Qatar, with about 70 persons, excluding flight crew of 15 persons for 3 aircraft.


The Presidency' s ear is lost. It is one which is not ready to be corrected . He has successfully surrounded himself with YES men; sycophants and hypocrites?


No man of conscience should spare Tinubu and sons on this! 


I read a friend of mine who is an APC chieftain on the WhatsApp Platform of my Media friends and I was sorry for the President and his family. He wrote; 


"This eyesore and hideous incident is another low for Tinubu as a leader. I was appalled and disgusted because this is coming when Nigerians are in pain, despair, hungry and angry about how they are being governed.

One can just imagine how the Qatari officials will be thinking when the President's sons who are not government officials or known investors could be there to talk less of being introduced before the Minister of Foreign Affairs.

I wish one could hear how Tinubu introduced his two sons. 


Would he say: 



"Meet Oluwaseyifunmi Tinubu my son, the first son of the Federal Republic of Nigeria". 


And again: 


"This is Oluwayinka Tinubu, the Second Son of The Federal Republic of Nigeria".



I'm just wondering what will be going through the mind of the Qataris.



This is impunity taken to the highest level. It is highly provocative and nauseating. It is disrespectful to all Nigerians. Tinubu is democratically elected as President and not as a King in a Monarchical country. It is high time people who are close to this president talked some senses into his head. He should cease from insulting and disrespecting us.


There is a thick cloud over this country. No one knows the straw that will break the carmel's back".


If my friend was angry with the President and his sons, I would not! My anger is with men who failed to lift up their heads when it matters, led by the Honourable? Can we in all honesty still retain any honour for men who couldn't stand up for their own honours? 


Qatar's order of protocol is the most dishonouring one I have seen in my 57 years of life. Next to Tinubu and sons in order of protocol were, Ambassador Yusuf Maitama Tuggar, the Foreign Affairs Minister . The Minister was joined on the line of shame by the elected Governors of Borno and Kaduna, their Excellencies Babagana Zulum and Uba Sani. The Minister of Finance and the Coordinating Minister of the Economy, Mr Wale Edun, made the line with Dele Alake, Minister for Solid Minerals, same for Nuhu Ribadu Defence Adviser, Mele Kyari, the Group Chief Executive Officer of Nigeria National Petroleum Company Limited, and the parrot at the Villa Ajuri Ngalele completed the line of "Iwofas"(serfs) who filed behind Oluwaseyifunmi and Oluwayimika Tinubu. 


Church Ministries like public Ministries are held in trust for the people. Many don't understand it when we demand succession transparency and accountability for leaders of Churches. This conduct is not different from what the attitude of our church leaders are.


I assumed they managed the situation by not walking away from that line of protocol. I have waited to see a resignation by any of the appointees and a media chiding of what the elected Governors were subjected to by the sons of Tinubu but I seem to be waiting in vain to see if any iota of honour is still left with these men that should compell them to resign for breach of protocol and gross disrespect to their offices upon their return to Nigeria.


Dr Reuben Abati, who studied protocol for four years, who wrote and passed exams according to him, asked; “Are the sons of the President not gainfully employed?”. 


And I also want to remind Sade, Seyi and Yinka that they are adults and not dependants of the President. 


They should focus on their own careers".


What seems to be a rumour before 2023 that the President Bola Tinubu wanted Seyi Tinubu as the Governorship candidate for Lagos State seems to be adding up. I think we should be prepared for Seyi in Lagos as Governor in 2027. Mummy back to the Senate for senate Presidency and Oluwayimika can make do with the Chief of staff to his father. Please, don't dare say it is not possible! What have you done to the embarrassing impossibility that has become our reality in Qatar?


The Emir of Qatar, Sheikh Hamid, after his warm embrace of PBAT was led in hand by the President to the most senior official of the Federal Republic of Nigeria on his entourage without official Portfolio! Mr Oluwaseyifunmi Tinubu followed in order of seniority of protocol by Oluwayimika Tinubu!


Many Nigerians had risen in defence of this indefensible!


What have you seen in the media against this Institutional nepotism by Tinubu? Buhari was no where near this, when crumbs seeking South West Media descended on him. Where are they now? They are shut up by Awa lokan! If not for the Arise Team that raised this, it probably would have gone unnoticed!


Tinubu has exceeded Buhari in nepotism with the appointment of his son-in-law as DG FHA, his brother as a Minister, now his sons were presented to the world as the most senior officials from Nigeria after their father; even though they were banned from attending FEC meeting!


A pity, if Nigerians can't see this "Emi lokan and Sons" Nigeria Limited coming and rise against it!



Dr Bolaji O. Akinyemi is an Apostle and Nation Builder. He's also President Voice of His Word Ministries and Convener Apostolic Round Table.


email:[email protected]


Facebook: Bolaji Akinyemi.


X: Bolaji O Akinyemi.


Instagram: bolajioakinyemi.


Phone: +2348033041236

By Bolaji O. Akinyemi.



The overbearing influence of Seyi Tinubu over state affairs was first noticed prior to the Lekki Toll gate massacre of Nigerian youths who were out on a peaceful protest against police brutality. Seyi's company is alleged to hold the monopoly of right to the lighting and the camera system at the facility. Though, his role, or of the company was hidden from the prying eyes of the public but its effect set the stage for what will become the worse state onslaught against peaceful and unarmed civilians in human history. They set the stage for what was to follow by switching off the lights before the military opened fire on the citizens, sending countless to early grave. Till date, lack of public transparency still trails the tragedy.


The President and Commander in Chief of the Armed Forces at that time was Muhammadu Buhari, who by implication is responsible for ordering the shoot at sight of the peaceful protesters.


The worst human puppet in the history of national leadership, once you can find a narrative to appeal to his ego you have pulled the string to get the puppet to dance to your sound. Buhari will later confess what the narrative that got the order out was; "the young people want to overthrow my Government"!


Who pulled the string on the President?


Though unseen, Seyi and Father's hands can't be exonerated from the deaths at the toll gate, while the yoke remains Buhari's burden to bear. Truth has never been buried successfully, if time doesn't reveal it, characters will! 


Our King had hardly been crowned when the first son of Pastor Remi Tinubu for the President, Oluwaseyifunmi Tinubu , the Crown Prince of Lagos State and the Olu-Omo of Nigeria showed us their families mission to power. He showed up in the chamber of the state house pacing up and down needlessly during the Federal Executive Council meeting. The rudeness of his conduct not even his father could keep his pretence of. He was forced as it looks now, against his will to openly rebuke his son. Seyi according to Mr. President has no business being in the chamber during the FEC meeting.


Please, what business then does he have to be on the entourage to Qatar?


Tinubu said he will cut the cost of governance by limiting his entourage on foreign trips to 20 persons after the national outcry that greeted the trip to the COP28 UN Climate Change Conference in Dubai, the United Arab Emirates where over 1400 delegates were alleged to have made the trip, and about 590 of them were sponsored by the government at an alleged cost of #885 million to taxpayers.


"Emi lokan"; seems to be clearly defined, "Emi lokan and Sons" Nigeria Limited!


The entourage to Qatar included 3 members of the Tinubu immediate and extended family, 35 members of the main body who arrived in 2 separate jets and an advance team estimated at 40 persons who also flew in a separate jet. 


In all, 3 jets from the presidential fleet landed in Qatar, with about 70 persons, excluding flight crew of 15 persons for 3 aircraft.


The Presidency' s ear is lost. It is one which is not ready to be corrected . He has successfully surrounded himself with YES men; sycophants and hypocrites?


No man of conscience should spare Tinubu and sons on this! 


I read a friend of mine who is an APC chieftain on the WhatsApp Platform of my Media friends and I was sorry for the President and his family. He wrote; 


"This eyesore and hideous incident is another low for Tinubu as a leader. I was appalled and disgusted because this is coming when Nigerians are in pain, despair, hungry and angry about how they are being governed.

One can just imagine how the Qatari officials will be thinking when the President's sons who are not government officials or known investors could be there to talk less of being introduced before the Minister of Foreign Affairs.

I wish one could hear how Tinubu introduced his two sons. 


Would he say: 



"Meet Oluwaseyifunmi Tinubu my son, the first son of the Federal Republic of Nigeria". 


And again: 


"This is Oluwayinka Tinubu, the Second Son of The Federal Republic of Nigeria".



I'm just wondering what will be going through the mind of the Qataris.



This is impunity taken to the highest level. It is highly provocative and nauseating. It is disrespectful to all Nigerians. Tinubu is democratically elected as President and not as a King in a Monarchical country. It is high time people who are close to this president talked some senses into his head. He should cease from insulting and disrespecting us.


There is a thick cloud over this country. No one knows the straw that will break the carmel's back".


If my friend was angry with the President and his sons, I would not! My anger is with men who failed to lift up their heads when it matters, led by the Honourable? Can we in all honesty still retain any honour for men who couldn't stand up for their own honours? 


Qatar's order of protocol is the most dishonouring one I have seen in my 57 years of life. Next to Tinubu and sons in order of protocol were, Ambassador Yusuf Maitama Tuggar, the Foreign Affairs Minister . The Minister was joined on the line of shame by the elected Governors of Borno and Kaduna, their Excellencies Babagana Zulum and Uba Sani. The Minister of Finance and the Coordinating Minister of the Economy, Mr Wale Edun, made the line with Dele Alake, Minister for Solid Minerals, same for Nuhu Ribadu Defence Adviser, Mele Kyari, the Group Chief Executive Officer of Nigeria National Petroleum Company Limited, and the parrot at the Villa Ajuri Ngalele completed the line of "Iwofas"(serfs) who filed behind Oluwaseyifunmi and Oluwayimika Tinubu. 


Church Ministries like public Ministries are held in trust for the people. Many don't understand it when we demand succession transparency and accountability for leaders of Churches. This conduct is not different from what the attitude of our church leaders are.


I assumed they managed the situation by not walking away from that line of protocol. I have waited to see a resignation by any of the appointees and a media chiding of what the elected Governors were subjected to by the sons of Tinubu but I seem to be waiting in vain to see if any iota of honour is still left with these men that should compell them to resign for breach of protocol and gross disrespect to their offices upon their return to Nigeria.


Dr Reuben Abati, who studied protocol for four years, who wrote and passed exams according to him, asked; “Are the sons of the President not gainfully employed?”. 


And I also want to remind Sade, Seyi and Yinka that they are adults and not dependants of the President. 


They should focus on their own careers".


What seems to be a rumour before 2023 that the President Bola Tinubu wanted Seyi Tinubu as the Governorship candidate for Lagos State seems to be adding up. I think we should be prepared for Seyi in Lagos as Governor in 2027. Mummy back to the Senate for senate Presidency and Oluwayimika can make do with the Chief of staff to his father. Please, don't dare say it is not possible! What have you done to the embarrassing impossibility that has become our reality in Qatar?


The Emir of Qatar, Sheikh Hamid, after his warm embrace of PBAT was led in hand by the President to the most senior official of the Federal Republic of Nigeria on his entourage without official Portfolio! Mr Oluwaseyifunmi Tinubu followed in order of seniority of protocol by Oluwayimika Tinubu!


Many Nigerians had risen in defence of this indefensible!


What have you seen in the media against this Institutional nepotism by Tinubu? Buhari was no where near this, when crumbs seeking South West Media descended on him. Where are they now? They are shut up by Awa lokan! If not for the Arise Team that raised this, it probably would have gone unnoticed!


Tinubu has exceeded Buhari in nepotism with the appointment of his son-in-law as DG FHA, his brother as a Minister, now his sons were presented to the world as the most senior officials from Nigeria after their father; even though they were banned from attending FEC meeting!


A pity, if Nigerians can't see this "Emi lokan and Sons" Nigeria Limited coming and rise against it!



Dr Bolaji O. Akinyemi is an Apostle and Nation Builder. He's also President Voice of His Word Ministries and Convener Apostolic Round Table.


email:[email protected]


Facebook: Bolaji Akinyemi.


X: Bolaji O Akinyemi.


Instagram: bolajioakinyemi.


Phone: +2348033041236

EFCC Defends Arrest of Suspected Food Smugglers

EFCC Defends Arrest of Suspected Food Smugglers

A Profile picture

The Economic and Financial Crimes Commission, EFCC, on Wednesday, March 6, 2024 justified the interception and arrest of 21 trucks loaded with food items allegedly being smuggled into neighboring countries, describing it as economic sabotage.


The justification was made in Abuja on Wednesday, March 6, 2024 by the Spokesperson of the Commission, Assistant Commander of the EFCC, ACE I Dele Oyewale while fielding questions in an interview session with the EFCC Radio, 97.3Fm.


According to him, the EFCC is saddled with the mandate of tackling all forms of economic and financial crimes, especially issues that directly affect the economy to avert sabotage. “Anything that has a negative bearing on the economy is an act of economic sabotage or serving as a leakage, distortion or disequilibrium in the economy, the Commission has a responsibility to tackle it and that is what the EFCC has done”, he said.


Continuing,  the image maker explained that,  “it is not that the Commission is throwing its nets towards the borders, an arrest can be made anywhere, and the smugglers were arrested at the exit routes leading to Cameroon and Chad as a result of the effectiveness of our surveillance. They could have also been arrested anywhere else but the most important thing is that they were arrested for allegedly smuggling food items that could be useful to Nigerians, which they were not allowed to take out of the country”.


He urged the public to commend and support the Commission for spreading its wings across the country, “the Commission is proactive and it is everywhere to ensure that the economy is revamped so that Nigerians can get optimum value. So, I think Nigerians should applaud the Commission more for being so proactive enough to tackle such incidental crimes. We all need to join our hands together to ensure that this problem of economic sabotage is directly addressed”, he said.


Source: EFCC 

A Profile picture

The Economic and Financial Crimes Commission, EFCC, on Wednesday, March 6, 2024 justified the interception and arrest of 21 trucks loaded with food items allegedly being smuggled into neighboring countries, describing it as economic sabotage.


The justification was made in Abuja on Wednesday, March 6, 2024 by the Spokesperson of the Commission, Assistant Commander of the EFCC, ACE I Dele Oyewale while fielding questions in an interview session with the EFCC Radio, 97.3Fm.


According to him, the EFCC is saddled with the mandate of tackling all forms of economic and financial crimes, especially issues that directly affect the economy to avert sabotage. “Anything that has a negative bearing on the economy is an act of economic sabotage or serving as a leakage, distortion or disequilibrium in the economy, the Commission has a responsibility to tackle it and that is what the EFCC has done”, he said.


Continuing,  the image maker explained that,  “it is not that the Commission is throwing its nets towards the borders, an arrest can be made anywhere, and the smugglers were arrested at the exit routes leading to Cameroon and Chad as a result of the effectiveness of our surveillance. They could have also been arrested anywhere else but the most important thing is that they were arrested for allegedly smuggling food items that could be useful to Nigerians, which they were not allowed to take out of the country”.


He urged the public to commend and support the Commission for spreading its wings across the country, “the Commission is proactive and it is everywhere to ensure that the economy is revamped so that Nigerians can get optimum value. So, I think Nigerians should applaud the Commission more for being so proactive enough to tackle such incidental crimes. We all need to join our hands together to ensure that this problem of economic sabotage is directly addressed”, he said.


Source: EFCC 

OPINION: Tinubu and the creation of a new society

OPINION: Tinubu and the creation of a new society

By

abiodun KOMOLAFE



Nigeria is at a critical juncture; and in such a context, it is _“cometh the moment, cometh the man”._ For President Bola Tinubu, this adversity should be turned into a historic advantage which should propel him to be the creator of a new society and his place in history will be assured, not for all time but forever. Men who took advantage of their opportunity include Park Chung Hee of South Korea, Lee Kuan Yew of Singapore, Mahathir Mohamad of Malaysia and Luiz InΓ‘cio Lula da Silva of Brazil. Take it or leave it, Nigeria is in it already but this is a historic task for Tinubu to right the wrongs; and it must not be long.


In life, every day counts! Tinubu has already spent more than 20% of his four-year tenure. By May 28, 2024, he will have used 25% of his tenure as President and Commander-in-Chief of the Armed Forces. So, the clock is ticking and time waits for no one! Reinventing the wheel shouldn’t be an option!


It is a historic turning point for Nigeria and Tinubu has a historic opportunity to position himself as the creator of a new political economy and the builder of a new Nigeria. If he gets it right, especially by reconstructing an economy that was hitherto based on parasitic activities, the country will never look back. If he is able to midwife a production, export-led economy, the changes brought will be irreversible and Tinubu will become the equivalent of Hee, Yew, and da Silva. Then he should forget about the next election as his place in history as the creator of a new Nigeria will have been assured and cemented. It will have been signed, sealed and delivered!


According to Karl Marx, _“men make their own history, but they do not make it as they please; they do not make it under self-selected circumstances but under circumstances existing already, given and transmitted from the past …”_ In a word, Tinubu is asked to make history but not in ways that he would have chosen or wanted but he still has to make that history in a positive manner. In order to attract more support from the masses therefore, what is expected from our president is to understand that sermons will not quench thirst and hunger even as change is not expected to be in a day but a daily process. He must understand that dispensational factors are expected to play notable roles in the fulfillment of his agenda for the Nigeria of his vision and that the opposition and those benefiting from the afflictions confronting Nigerians are not relenting. Since they are condemned to the monstrous conventions of politics, they aren’t going to sleep either. But if the president asked not to be pitied, Nigerians are seriously asking for his pity.


Tinubu is expected to represent the progressive currents that have passed through the Nigerian space, going back to the foundation of _‘Egbe Omo Oduduwa’, Northern Elements Progressive Union_ (NEPU) and others. So, the president must return to the basic tenets of social democracy – the German-type social market and shared prosperity.


But why are his ministers not functioning and why are they not talking to Nigerians about what their respective ministries are bringing to the table to help Nigeria out of this socioeconomic morass? For reasons best known to most of them, there’s no functional, mobile and serious in-house media to help coordinate their media outlets other than the usual _‘kick-and-start’_ creation of bureaucracy. There is no meeting of minds and it’s as if our ministers are scared of taking bullets for the president, which, of course, is one of their central functions as presidential aides.


The two performing ministries in times of Balance of Payment crises ought to be Solid Minerals and Blue Economy. In the 1960s, the Nigerian Ports Authority (NPA) alone provided not less than 42% of the Federal Government Budget, up to the end of the First Republic. Impliedly, the Marine and Blue Economy under Gboyega Oyetola should be prepared to give about 18% of Nigeria’s Budget with ease. Whether we like it or not, Nigeria has to export her way up out of the wahala in which she’s currently immersed. To respond to the Balance of Trade and currency crises, the economic strategy is to export in order to import with a view to balancing its payments.


One of the reasons the world continues to remember former Prime Minister Tony Blair and former President Bill Clinton is that, immediately after they assumed office, they set up what could be referred to as public sector targets with fixed timelines for every minister. Because they did that, the ministers were very effective, not just because they were brilliant. It’s because they had targets that were eventually met; and that’s why the two leaders ended well. In Nigeria, how do we appraise performance without targets and timelines? Therefore, Tinubu should give every minister public-sector targets with fixed timelines as it’s done in sane climes. This is very important because every hour counts! The performance evaluation team put in place by the president also has to give a dispassionate report on the ministers because Nigerians expect more from them.


If truth be told, those who have been assuring Nigerians that all would be well are not telling us something new. As we speak, the hypocrisy of the dollar remains unsurpassed even as the inflation rate is 29.9%. Yes, that terrible record is the highest in 28 years. The more reason Tinubu needs our prayers! Here’s a man who said that nobody should pity him because he asked for the job, that the current pains were products of his tough policies geared towards revamping the economy and that the situation would soon begin to smile. However, laudable as these promises may be, it is perhaps because most Nigerians see the president as being above their level that his messages seem not to be resonating with them. They don’t see him as speaking the same language with them, coming down to dance their dance or taking their brand of tea. Should the president continue this way, his reforms may become wounded and, his legacy, troubled.


As a Yoruba leader of the _Afenifere_ bent, Tinubu’s cardinal focus should be the creation of state police, restructuring and better life for all. God forbid, should he miss this rare opportunity, then there may be no hope again for the progressives and Yoruba race will be worse for it. Yes, he might have come at the wrong time but the satisfying truth is that he remains the right man for the job. He is a pro-democracy fighter and an advocate for human dignity. He has promoted self-rule with all his might and fought oligarchy and shallowness of thought in governance. He has led many situations perceived to be for the good of all and spearheaded measures aimed at restoring values and a new beginning.


So, what practical things does Tinubu want to do in practical ways that will bring practical succor to the people? If it is a four-lane road that he’s going to construct from Ijebu-Jesa, my Native Nazareth in Osun State, through Fenwa Community in Oyo State, to Daura in Katsina State, the president should let us know! If it is power, he should give instructions to Adebayo _‘Penkelemesi’_ Adelabu on how to move beyond cruising in the unmatched comfort of wattages of darkness to truly deliver on his mandate. Nigerians are no longer interested in excuses that do not edify prosperity. What Nigerians want going forward is result.


May the Lamb of God, who takes away the sin of the world, grant us peace in Nigeria!


 _●[email protected];_ 

 _●08098614418 - SMS only._

By

abiodun KOMOLAFE



Nigeria is at a critical juncture; and in such a context, it is _“cometh the moment, cometh the man”._ For President Bola Tinubu, this adversity should be turned into a historic advantage which should propel him to be the creator of a new society and his place in history will be assured, not for all time but forever. Men who took advantage of their opportunity include Park Chung Hee of South Korea, Lee Kuan Yew of Singapore, Mahathir Mohamad of Malaysia and Luiz InΓ‘cio Lula da Silva of Brazil. Take it or leave it, Nigeria is in it already but this is a historic task for Tinubu to right the wrongs; and it must not be long.


In life, every day counts! Tinubu has already spent more than 20% of his four-year tenure. By May 28, 2024, he will have used 25% of his tenure as President and Commander-in-Chief of the Armed Forces. So, the clock is ticking and time waits for no one! Reinventing the wheel shouldn’t be an option!


It is a historic turning point for Nigeria and Tinubu has a historic opportunity to position himself as the creator of a new political economy and the builder of a new Nigeria. If he gets it right, especially by reconstructing an economy that was hitherto based on parasitic activities, the country will never look back. If he is able to midwife a production, export-led economy, the changes brought will be irreversible and Tinubu will become the equivalent of Hee, Yew, and da Silva. Then he should forget about the next election as his place in history as the creator of a new Nigeria will have been assured and cemented. It will have been signed, sealed and delivered!


According to Karl Marx, _“men make their own history, but they do not make it as they please; they do not make it under self-selected circumstances but under circumstances existing already, given and transmitted from the past …”_ In a word, Tinubu is asked to make history but not in ways that he would have chosen or wanted but he still has to make that history in a positive manner. In order to attract more support from the masses therefore, what is expected from our president is to understand that sermons will not quench thirst and hunger even as change is not expected to be in a day but a daily process. He must understand that dispensational factors are expected to play notable roles in the fulfillment of his agenda for the Nigeria of his vision and that the opposition and those benefiting from the afflictions confronting Nigerians are not relenting. Since they are condemned to the monstrous conventions of politics, they aren’t going to sleep either. But if the president asked not to be pitied, Nigerians are seriously asking for his pity.


Tinubu is expected to represent the progressive currents that have passed through the Nigerian space, going back to the foundation of _‘Egbe Omo Oduduwa’, Northern Elements Progressive Union_ (NEPU) and others. So, the president must return to the basic tenets of social democracy – the German-type social market and shared prosperity.


But why are his ministers not functioning and why are they not talking to Nigerians about what their respective ministries are bringing to the table to help Nigeria out of this socioeconomic morass? For reasons best known to most of them, there’s no functional, mobile and serious in-house media to help coordinate their media outlets other than the usual _‘kick-and-start’_ creation of bureaucracy. There is no meeting of minds and it’s as if our ministers are scared of taking bullets for the president, which, of course, is one of their central functions as presidential aides.


The two performing ministries in times of Balance of Payment crises ought to be Solid Minerals and Blue Economy. In the 1960s, the Nigerian Ports Authority (NPA) alone provided not less than 42% of the Federal Government Budget, up to the end of the First Republic. Impliedly, the Marine and Blue Economy under Gboyega Oyetola should be prepared to give about 18% of Nigeria’s Budget with ease. Whether we like it or not, Nigeria has to export her way up out of the wahala in which she’s currently immersed. To respond to the Balance of Trade and currency crises, the economic strategy is to export in order to import with a view to balancing its payments.


One of the reasons the world continues to remember former Prime Minister Tony Blair and former President Bill Clinton is that, immediately after they assumed office, they set up what could be referred to as public sector targets with fixed timelines for every minister. Because they did that, the ministers were very effective, not just because they were brilliant. It’s because they had targets that were eventually met; and that’s why the two leaders ended well. In Nigeria, how do we appraise performance without targets and timelines? Therefore, Tinubu should give every minister public-sector targets with fixed timelines as it’s done in sane climes. This is very important because every hour counts! The performance evaluation team put in place by the president also has to give a dispassionate report on the ministers because Nigerians expect more from them.


If truth be told, those who have been assuring Nigerians that all would be well are not telling us something new. As we speak, the hypocrisy of the dollar remains unsurpassed even as the inflation rate is 29.9%. Yes, that terrible record is the highest in 28 years. The more reason Tinubu needs our prayers! Here’s a man who said that nobody should pity him because he asked for the job, that the current pains were products of his tough policies geared towards revamping the economy and that the situation would soon begin to smile. However, laudable as these promises may be, it is perhaps because most Nigerians see the president as being above their level that his messages seem not to be resonating with them. They don’t see him as speaking the same language with them, coming down to dance their dance or taking their brand of tea. Should the president continue this way, his reforms may become wounded and, his legacy, troubled.


As a Yoruba leader of the _Afenifere_ bent, Tinubu’s cardinal focus should be the creation of state police, restructuring and better life for all. God forbid, should he miss this rare opportunity, then there may be no hope again for the progressives and Yoruba race will be worse for it. Yes, he might have come at the wrong time but the satisfying truth is that he remains the right man for the job. He is a pro-democracy fighter and an advocate for human dignity. He has promoted self-rule with all his might and fought oligarchy and shallowness of thought in governance. He has led many situations perceived to be for the good of all and spearheaded measures aimed at restoring values and a new beginning.


So, what practical things does Tinubu want to do in practical ways that will bring practical succor to the people? If it is a four-lane road that he’s going to construct from Ijebu-Jesa, my Native Nazareth in Osun State, through Fenwa Community in Oyo State, to Daura in Katsina State, the president should let us know! If it is power, he should give instructions to Adebayo _‘Penkelemesi’_ Adelabu on how to move beyond cruising in the unmatched comfort of wattages of darkness to truly deliver on his mandate. Nigerians are no longer interested in excuses that do not edify prosperity. What Nigerians want going forward is result.


May the Lamb of God, who takes away the sin of the world, grant us peace in Nigeria!


 _●[email protected];_ 

 _●08098614418 - SMS only._

NEWS RELEASE: Gov Adeleke Markets Osun Cocoa Potentials, Meets Chocolate Producers and Stakeholders

NEWS RELEASE: Gov Adeleke Markets Osun Cocoa Potentials, Meets Chocolate Producers and Stakeholders






The Executive Governor of Osun State, Senator Ademola Adeleke has urged investors to tap into the potentials of cocoa in the state, saying that his administration is already taking steps in addressing past challenges that stunted growth of the sector.


Addressing a global audience of investors in the cocoa sector in London, the United Kingdom, on Wednesday, Governor Adeleke noted that Osun brand of cocoa is highly sought after by end users providing investors with a guarantee of returns for their investments.


Governor Adeleke, who pointed out that Osun is a major cocoa belt in Nigeria to underscore opportunities, outlined ongoing efforts by his government to expand the production base and unleash the benefits of the sector for both the state and investors.


"Our cocoa is the traditional species which has the best taste in chocolate and other related products. Our brand is therefore much sought after by end users," Governor Adeleke remarked.


"Our cocoa sector faces several challenges, several of which include the need to expand the production base, ensure entrance of young farmers, ease access to finance, deepen the value chain among others.


"It was in pursuance of the above that I launched the Osun Cocoa Revival Agenda in January this year.


 The agenda focuses on assembling stakeholders to design an updated revival implementation plan; get the cocoa industry company in the state running again; put life back into the cocoa farming sub-sector through demonstration of political will; get more investors into the value chain through ease of doing business.



Others include setting up a domestic export terminal in Osun state to ease export process and access to international market; partnering with the Nigerian Railway Corporation for easy of transport; upgrading local infrastructures for farming community; setting up a modified commodity boards to strengthen stakeholders’ finance; develop partnership with financial institutions to support the cocoa farming community;


The Governor also listed the development of  relationship with the National Agency for Science and Engineering Infrastructure (NASENI) for agric tech and innovations; and establishment of  strong partnership with the Cocoa Research Institute for partnership and collaboration engagement.


The Governor said he has directed the  state Ministry of Agriculture to establish high yielding cocoa nurseries across the local governments ; prepares an action plan for the rehabilitation of old cocoa plantations in term of facilities and re-plantation; open up new cocoa estates with young farmers; introduce deliberate programme to protect cocoa farms from destructive activities of miners and mining activities.


Describing his cocoa plan as very ambitious, Governor Adeleke said his administration plans to resuscitate the State owned cocoa processing industry at Ede for value chain addition; link the cocoa revival plan with climate agenda, establish 

cottage cocoa factories across the state Under an industry cluster agenda among others.



The Governor called on "our business friends in the United Kingdom and Europe as well as North America to partner with us for mutual interest in the cocoa sector. We are widely open to investors who are interested in the value chain of the cocoa sector as well as shareholding in the existing cocoa ventures.


"Your coming to Osun is assured to be very rewarding for many reasons. Our government has enhanced the ease of doing business Osjn through an end to multiple taxation and facilitation of access to land and simplification of the approval system.


"We are open to supporting government to government, government to business, business to business arrangements. We are a willing partner and my team is here to negotiate deals and partnership", the Governor assured the cocoa conference.


Signed: 

Mallam Olawale Rasheed,

Spokesperson to the Osun State Governor






The Executive Governor of Osun State, Senator Ademola Adeleke has urged investors to tap into the potentials of cocoa in the state, saying that his administration is already taking steps in addressing past challenges that stunted growth of the sector.


Addressing a global audience of investors in the cocoa sector in London, the United Kingdom, on Wednesday, Governor Adeleke noted that Osun brand of cocoa is highly sought after by end users providing investors with a guarantee of returns for their investments.


Governor Adeleke, who pointed out that Osun is a major cocoa belt in Nigeria to underscore opportunities, outlined ongoing efforts by his government to expand the production base and unleash the benefits of the sector for both the state and investors.


"Our cocoa is the traditional species which has the best taste in chocolate and other related products. Our brand is therefore much sought after by end users," Governor Adeleke remarked.


"Our cocoa sector faces several challenges, several of which include the need to expand the production base, ensure entrance of young farmers, ease access to finance, deepen the value chain among others.


"It was in pursuance of the above that I launched the Osun Cocoa Revival Agenda in January this year.


 The agenda focuses on assembling stakeholders to design an updated revival implementation plan; get the cocoa industry company in the state running again; put life back into the cocoa farming sub-sector through demonstration of political will; get more investors into the value chain through ease of doing business.



Others include setting up a domestic export terminal in Osun state to ease export process and access to international market; partnering with the Nigerian Railway Corporation for easy of transport; upgrading local infrastructures for farming community; setting up a modified commodity boards to strengthen stakeholders’ finance; develop partnership with financial institutions to support the cocoa farming community;


The Governor also listed the development of  relationship with the National Agency for Science and Engineering Infrastructure (NASENI) for agric tech and innovations; and establishment of  strong partnership with the Cocoa Research Institute for partnership and collaboration engagement.


The Governor said he has directed the  state Ministry of Agriculture to establish high yielding cocoa nurseries across the local governments ; prepares an action plan for the rehabilitation of old cocoa plantations in term of facilities and re-plantation; open up new cocoa estates with young farmers; introduce deliberate programme to protect cocoa farms from destructive activities of miners and mining activities.


Describing his cocoa plan as very ambitious, Governor Adeleke said his administration plans to resuscitate the State owned cocoa processing industry at Ede for value chain addition; link the cocoa revival plan with climate agenda, establish 

cottage cocoa factories across the state Under an industry cluster agenda among others.



The Governor called on "our business friends in the United Kingdom and Europe as well as North America to partner with us for mutual interest in the cocoa sector. We are widely open to investors who are interested in the value chain of the cocoa sector as well as shareholding in the existing cocoa ventures.


"Your coming to Osun is assured to be very rewarding for many reasons. Our government has enhanced the ease of doing business Osjn through an end to multiple taxation and facilitation of access to land and simplification of the approval system.


"We are open to supporting government to government, government to business, business to business arrangements. We are a willing partner and my team is here to negotiate deals and partnership", the Governor assured the cocoa conference.


Signed: 

Mallam Olawale Rasheed,

Spokesperson to the Osun State Governor

Addressing Nigeria's Economic Crisis: The Imperative for Immediate Government Intervention

Addressing Nigeria's Economic Crisis: The Imperative for Immediate Government Intervention

Awotayo Olagoke 





Awotayo
Nigeria is currently facing an alarming economic crisis, with various factors contributing to the deteriorating situation. Rising inflation rates, increased food prices, removal of subsidies, and a hike in foreign currency exchange rates have compounded the challenges faced by the Nigerian people. Urgent action is required from the government to address these issues before public frustration reaches a boiling point the red light is blinking and danger is overing, as extreme poverty, insecurity, and corporate corruption continue to plague the country. One of the primary concerns in Nigeria's economic landscape is rapid inflation and the subsequent increase in food prices. In recent years, inflation rates have risen steadily, eroding the purchasing power of the common citizen. This has had a crippling effect on the average Nigerian's ability to afford basic necessities. Government intervention is essential to implement policies that stabilize inflation and support the agricultural sector to enhance food production and distribution. This can help to alleviate the burden on the vulnerable populations who are disproportionately affected by these escalating prices.

The removal of subsidies has further exacerbated the economic situation in Nigeria. The withdrawal of subsidies on essential commodities such as fuel and electricity has directly impacted the cost of living of Nigerians. The sudden surge in fuel prices, for instance, has led to increased transportation costs and subsequently affected the prices of goods and services in the market. The Federal Government must reassess the impact of subsidy removal decisions on the people and carefully evaluate alternative measures that can mitigate the burden on the average Nigerian failure which potend danger for peace in the country. Foreign currency exchange rates play a crucial role in Nigeria's economic stability. However, the recent sharp increase in exchange rates has greatly affected trade, investments, and the overall economic health of the nation. The depreciating value of the Nigerian currency has proven detrimental to imports, making essential goods more expensive. Urgent action is required to stabilize the exchange rates through strategic policies, such as diversifying the economy and attracting foreign investments. 


The economic challenges faced by Nigeria are not only affecting individuals but also posing a threat to social and political stability. The extreme poverty situation, coupled with a lack of purchasing power, has created a climate of desperation among citizens. Insecurity continues to escalate, making it imperative for the government to alleviate the economic burden on the populace promptly. Swift and concrete measures are needed to combat widespread corruption, address income inequality, and provide essential services to the most vulnerable. 


Nigeria's economic situation requires urgent and decisive action from the government to prevent a potential social and political crisis that is knocking. By stabilizing inflation, tackling the issue of rising food prices, reconsidering subsidy removal, and actively addressing the hike in foreign currency exchange rates, the government can help restore confidence in the economy and provide relief to the struggling populace. It is crucial for all stakeholders to come together and find sustainable solutions that alleviate the suffering of the Nigerian people and pave the way for a brighter and more prosperous future.

Awotayo Olagoke 





Awotayo
Nigeria is currently facing an alarming economic crisis, with various factors contributing to the deteriorating situation. Rising inflation rates, increased food prices, removal of subsidies, and a hike in foreign currency exchange rates have compounded the challenges faced by the Nigerian people. Urgent action is required from the government to address these issues before public frustration reaches a boiling point the red light is blinking and danger is overing, as extreme poverty, insecurity, and corporate corruption continue to plague the country. One of the primary concerns in Nigeria's economic landscape is rapid inflation and the subsequent increase in food prices. In recent years, inflation rates have risen steadily, eroding the purchasing power of the common citizen. This has had a crippling effect on the average Nigerian's ability to afford basic necessities. Government intervention is essential to implement policies that stabilize inflation and support the agricultural sector to enhance food production and distribution. This can help to alleviate the burden on the vulnerable populations who are disproportionately affected by these escalating prices.

The removal of subsidies has further exacerbated the economic situation in Nigeria. The withdrawal of subsidies on essential commodities such as fuel and electricity has directly impacted the cost of living of Nigerians. The sudden surge in fuel prices, for instance, has led to increased transportation costs and subsequently affected the prices of goods and services in the market. The Federal Government must reassess the impact of subsidy removal decisions on the people and carefully evaluate alternative measures that can mitigate the burden on the average Nigerian failure which potend danger for peace in the country. Foreign currency exchange rates play a crucial role in Nigeria's economic stability. However, the recent sharp increase in exchange rates has greatly affected trade, investments, and the overall economic health of the nation. The depreciating value of the Nigerian currency has proven detrimental to imports, making essential goods more expensive. Urgent action is required to stabilize the exchange rates through strategic policies, such as diversifying the economy and attracting foreign investments. 


The economic challenges faced by Nigeria are not only affecting individuals but also posing a threat to social and political stability. The extreme poverty situation, coupled with a lack of purchasing power, has created a climate of desperation among citizens. Insecurity continues to escalate, making it imperative for the government to alleviate the economic burden on the populace promptly. Swift and concrete measures are needed to combat widespread corruption, address income inequality, and provide essential services to the most vulnerable. 


Nigeria's economic situation requires urgent and decisive action from the government to prevent a potential social and political crisis that is knocking. By stabilizing inflation, tackling the issue of rising food prices, reconsidering subsidy removal, and actively addressing the hike in foreign currency exchange rates, the government can help restore confidence in the economy and provide relief to the struggling populace. It is crucial for all stakeholders to come together and find sustainable solutions that alleviate the suffering of the Nigerian people and pave the way for a brighter and more prosperous future.

OSUN STATE : Governor Adeleke Unveils Food Security Plan, Preaches Unity on Economic Crisis

OSUN STATE : Governor Adeleke Unveils Food Security Plan, Preaches Unity on Economic Crisis


OSOGBO



24 hours after Mr President’s meeting with state governors, Governor Ademola Adeleke today unveiled his government’s food security plan as he advocated national unity to resolve the current national economic crisis.


The Governor who attended President Bola Tinubu’s briefing with Governors on Thursday was at the Federal Ministry of Agriculture today during which he opened up on the extensive agenda of the state government on food security and expanded food production.



Hosted by the Federal Minister of Agriculture, Senator Abubakar Kyari, the Osun Governor accompanied by his Commissioner for Agriculture, Tola Faseru said “these are emergency eras in the economic life of this nation. 



“We therefore have a duty to look and act beyond partisan politics and ensure collective efforts towards restoration of normalcy. A federation works best when component units join hands for common good”, the Governor told the minister.


“ It is in that line that I am here today. The first reason is to brief you on what the Osun state government is doing on the issue of food security and ongoing economic challenges facing the nation. 







“Mr President yesterday briefed the state governors on the state of the nation. He outlined several steps state governors should take to stem the crisis of food security and inflation.


“ I am happy to report that the Osun government has been very proactive. First, we are setting up a State Security Trust Fund to mobilise financing for security agencies. This is going to be private sector driven. 



“Secondly, I have conveyed a food security meeting for Monday to brainstorm on how to further secure our farmlands. I will be meeting representatives of Hunters Association and the Amotekun commanders alongside the civil defence and police services. The goal is to strengthen farm security. 



“Our administration is also working on Small Farmers’ Equipment Lending service. This is to ease the access of small-scale farmers to tractors and other needed machineries. We are meeting this week to finalise the plan ahead of the onset of the rainy planting season.


“To expand food production, we are also pushing to implement a City to Farm programme. This was designed to encourage young small-scale farmers. This will expand production and also engage our youth. 



“This is alongside our plans for a regional farmers’ markets where offtakers can meet farmers for exchange and market relationships.

We need your technical support to implement many of the listed areas.


“On a more general level, our administration recently unveiled a Cocoa Revival plan for the state. It involves several activities which focus on moving Osun from 3rd to 1st cocoa producer in Nigeria. We seek partnership with the federal Ministry of Agriculture on this.


“Our government is also interested in the livestock development programme. We have submitted our expression of interest. Kindly help to facilitate early approval.


“The state is also interested in the Agro-processing zones project being implemented under the African Development Bank. I hosted a delegation of the AFDB in Osun two weeks ago. Your ministry’s support on this is also solicited.


“Overall, I seek an MOU with the ministry to ensure standby collaboration with our government. I will be glad if we can have a small committee to oursure the making of the MOU”, Mr Governor told the Minister and top management of the federal ministry.


Responding, Senator Abubakar commended the multi-partisan approach of the Governor to state governance, pledging to work on all the areas touched by the Governor.


He restated the determination of President Bola Tinubu to address the national economic challenges, informing the delegation that the meeting with the Governor was part of a broad plan to ensure immediate resolution of the current dislocations within the economy.


While describing the state governments as key partners in national economic development, the minister expressed happiness on the proactive measures listed by the Governor and assured him of federal support and assistance.


Signed:

Mallam Olawale Rasheed,

Spokesperson to the State Governor.


OSOGBO



24 hours after Mr President’s meeting with state governors, Governor Ademola Adeleke today unveiled his government’s food security plan as he advocated national unity to resolve the current national economic crisis.


The Governor who attended President Bola Tinubu’s briefing with Governors on Thursday was at the Federal Ministry of Agriculture today during which he opened up on the extensive agenda of the state government on food security and expanded food production.



Hosted by the Federal Minister of Agriculture, Senator Abubakar Kyari, the Osun Governor accompanied by his Commissioner for Agriculture, Tola Faseru said “these are emergency eras in the economic life of this nation. 



“We therefore have a duty to look and act beyond partisan politics and ensure collective efforts towards restoration of normalcy. A federation works best when component units join hands for common good”, the Governor told the minister.


“ It is in that line that I am here today. The first reason is to brief you on what the Osun state government is doing on the issue of food security and ongoing economic challenges facing the nation. 







“Mr President yesterday briefed the state governors on the state of the nation. He outlined several steps state governors should take to stem the crisis of food security and inflation.


“ I am happy to report that the Osun government has been very proactive. First, we are setting up a State Security Trust Fund to mobilise financing for security agencies. This is going to be private sector driven. 



“Secondly, I have conveyed a food security meeting for Monday to brainstorm on how to further secure our farmlands. I will be meeting representatives of Hunters Association and the Amotekun commanders alongside the civil defence and police services. The goal is to strengthen farm security. 



“Our administration is also working on Small Farmers’ Equipment Lending service. This is to ease the access of small-scale farmers to tractors and other needed machineries. We are meeting this week to finalise the plan ahead of the onset of the rainy planting season.


“To expand food production, we are also pushing to implement a City to Farm programme. This was designed to encourage young small-scale farmers. This will expand production and also engage our youth. 



“This is alongside our plans for a regional farmers’ markets where offtakers can meet farmers for exchange and market relationships.

We need your technical support to implement many of the listed areas.


“On a more general level, our administration recently unveiled a Cocoa Revival plan for the state. It involves several activities which focus on moving Osun from 3rd to 1st cocoa producer in Nigeria. We seek partnership with the federal Ministry of Agriculture on this.


“Our government is also interested in the livestock development programme. We have submitted our expression of interest. Kindly help to facilitate early approval.


“The state is also interested in the Agro-processing zones project being implemented under the African Development Bank. I hosted a delegation of the AFDB in Osun two weeks ago. Your ministry’s support on this is also solicited.


“Overall, I seek an MOU with the ministry to ensure standby collaboration with our government. I will be glad if we can have a small committee to oursure the making of the MOU”, Mr Governor told the Minister and top management of the federal ministry.


Responding, Senator Abubakar commended the multi-partisan approach of the Governor to state governance, pledging to work on all the areas touched by the Governor.


He restated the determination of President Bola Tinubu to address the national economic challenges, informing the delegation that the meeting with the Governor was part of a broad plan to ensure immediate resolution of the current dislocations within the economy.


While describing the state governments as key partners in national economic development, the minister expressed happiness on the proactive measures listed by the Governor and assured him of federal support and assistance.


Signed:

Mallam Olawale Rasheed,

Spokesperson to the State Governor.

Osun Gov Ademola Adeleke Nominated as a member of 37-man Committee on National Minimum Wage

Osun Gov Ademola Adeleke Nominated as a member of 37-man Committee on National Minimum Wage





Osun State Governor Ademola Adeleke as been nominated as part of the 37-man Tripartite Committee on National Minimum Wage by President Bola Ahmed Tinubu. 


According to a report, the committee members are drawn from representatives of the Federal Government, State Government, Private Sector and the Organised Labour with mandate to recommend a new National Minimum Wage for the Country.


GovAdeleke is the representative of the South West Governors at the committee expected to be inaugurated tomorrow Tuesday, 30th of January 2024 at the Council Chamber, Presidential Villa, State House, Abuja.



In the face of hardship in the land and devaluation of naira, Tinubu led federal government is still seeking legitimatcy and popular support despite supreme court judgement which confirmed his election Victory.


The Committee under the Chairmanship of former Head of the Civil Service of the Federation, Bukar Aji, which cut across Federal Government, State Government, Private Sector and the Organised Labour are as follows:


From the Federal Government, the members include Hon. Nkeiruka Onyejeocha, Hon. Minister of State, Labour and Employment (Representing Hon. Minister of Labour and Employment); Mr. Wale Edun, Hon. Minister of Finance & Coordinating Minister of the Economy; Alhaji Atiku Bagudu, Hon. Minister of Budget Economic Planning; Dr. (Mrs) Yemi Esan, Head of the Civil Service of the Federation; Dr. Nnamdi Maurice Mbaeri, Permanent Secretary, GSO. OSGF and Ekpo Nta, Esq, Chairman/CEO, NSIWC – Member/Secretary.


Also from the State Government, Alh. Mohammed Umar Bago, Governor, Niger State- representative from North Central; Sen. Bala Mohammed, Governor Bauchi State- representative from North East; Alh. Umar Dikko Radda, Governor Katsina State- representative from North West; Prof. Charles Soludo, Governor, Anambra State- representative from the South East; Sen. Ademola Adeleke, Governor, Osun State- representative from South West; Mr. Otu Bassey Edet, Governor, Cross River State- representative from South West.


From the Nigeria Employers’ Consultative Association (NECA)- Adewale-Smatt Oyerinde, Director-General, NECA; Mr. Chuma Nwankwo; Mr. Thompson Akpabio with also members from the Nigeria Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) include Asiwaju (Dr) Michael Olawale-Cole, National President; Hon. (Dr) Ahmed Rabiu, National Vice President and Chief Humphrey Ngonadi (NPOM), National Life President.


The membership from the National Association of Small and Medium Enterprise (NASME) are Dr. Abdulrashid Yerima, President & Chairman of Council; Hon. Theophilus Nnorom Okwuchukwu, Private Sector representative; Dr. Muhammed Nura Bello, Zonal Vice President, North West and also from the Manufacturers Association of Nigeria (MAN) are Mrs. Grace Omo-Lamai, Human Resource Director, Nigerian Breweries; Segun Ajayi-Kadir, mni, Director-General, MAN; Lady Ada Chukwudozie, Managing Director, Dozzy Oil and Gas Limited.


From the organised labour, the Nigeria Labour Congress (NLC) Comrade Joe Ajaero, President, NLC; Comrade Emmanuel Ugboaja, mni; Comrade Prince Adeyanju Adewale; Comrade Ambali Akeem Olatunji; Comrade Benjamin Anthony and Prof. Theophilius Ndukuba.


Also, membership from the Trade Union Congress of Nigeria (TUC) include Comrade (Engr) Festus Osifo, President, TUC; Comrade Tommy Etim Okon, PhD, Deputy President I, TUC; Comrade Kayode Surajudeen Alakija, Deputy President II; Comrade Jimoh Oyibo, Deputy President. III; Comrade Nuhu A. Toro, Secretary-General and Comrade Hafusatu Shuaib, Chairperson Women Comm.





Osun State Governor Ademola Adeleke as been nominated as part of the 37-man Tripartite Committee on National Minimum Wage by President Bola Ahmed Tinubu. 


According to a report, the committee members are drawn from representatives of the Federal Government, State Government, Private Sector and the Organised Labour with mandate to recommend a new National Minimum Wage for the Country.


GovAdeleke is the representative of the South West Governors at the committee expected to be inaugurated tomorrow Tuesday, 30th of January 2024 at the Council Chamber, Presidential Villa, State House, Abuja.



In the face of hardship in the land and devaluation of naira, Tinubu led federal government is still seeking legitimatcy and popular support despite supreme court judgement which confirmed his election Victory.


The Committee under the Chairmanship of former Head of the Civil Service of the Federation, Bukar Aji, which cut across Federal Government, State Government, Private Sector and the Organised Labour are as follows:


From the Federal Government, the members include Hon. Nkeiruka Onyejeocha, Hon. Minister of State, Labour and Employment (Representing Hon. Minister of Labour and Employment); Mr. Wale Edun, Hon. Minister of Finance & Coordinating Minister of the Economy; Alhaji Atiku Bagudu, Hon. Minister of Budget Economic Planning; Dr. (Mrs) Yemi Esan, Head of the Civil Service of the Federation; Dr. Nnamdi Maurice Mbaeri, Permanent Secretary, GSO. OSGF and Ekpo Nta, Esq, Chairman/CEO, NSIWC – Member/Secretary.


Also from the State Government, Alh. Mohammed Umar Bago, Governor, Niger State- representative from North Central; Sen. Bala Mohammed, Governor Bauchi State- representative from North East; Alh. Umar Dikko Radda, Governor Katsina State- representative from North West; Prof. Charles Soludo, Governor, Anambra State- representative from the South East; Sen. Ademola Adeleke, Governor, Osun State- representative from South West; Mr. Otu Bassey Edet, Governor, Cross River State- representative from South West.


From the Nigeria Employers’ Consultative Association (NECA)- Adewale-Smatt Oyerinde, Director-General, NECA; Mr. Chuma Nwankwo; Mr. Thompson Akpabio with also members from the Nigeria Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) include Asiwaju (Dr) Michael Olawale-Cole, National President; Hon. (Dr) Ahmed Rabiu, National Vice President and Chief Humphrey Ngonadi (NPOM), National Life President.


The membership from the National Association of Small and Medium Enterprise (NASME) are Dr. Abdulrashid Yerima, President & Chairman of Council; Hon. Theophilus Nnorom Okwuchukwu, Private Sector representative; Dr. Muhammed Nura Bello, Zonal Vice President, North West and also from the Manufacturers Association of Nigeria (MAN) are Mrs. Grace Omo-Lamai, Human Resource Director, Nigerian Breweries; Segun Ajayi-Kadir, mni, Director-General, MAN; Lady Ada Chukwudozie, Managing Director, Dozzy Oil and Gas Limited.


From the organised labour, the Nigeria Labour Congress (NLC) Comrade Joe Ajaero, President, NLC; Comrade Emmanuel Ugboaja, mni; Comrade Prince Adeyanju Adewale; Comrade Ambali Akeem Olatunji; Comrade Benjamin Anthony and Prof. Theophilius Ndukuba.


Also, membership from the Trade Union Congress of Nigeria (TUC) include Comrade (Engr) Festus Osifo, President, TUC; Comrade Tommy Etim Okon, PhD, Deputy President I, TUC; Comrade Kayode Surajudeen Alakija, Deputy President II; Comrade Jimoh Oyibo, Deputy President. III; Comrade Nuhu A. Toro, Secretary-General and Comrade Hafusatu Shuaib, Chairperson Women Comm.

PRESS RELEASE: NNPCL To Supply 46.2% of Dangote Refinery Crude: Too Many Questions Unanswered

PRESS RELEASE: NNPCL To Supply 46.2% of Dangote Refinery Crude: Too Many Questions Unanswered

 21st May 2023


The Group Managing Director of the Nigeria National Petroleum Corporation Limited (NNPCL), Mele Kyari has announced that Nigeria's national oil company

will begin to supply Dangote refinery 300,000 barrel of crude oil daily this week.


The 300,000 barrels

 is 46.2% of Dangote's daily crude oil needs.


This is another phase and beginning of corporate capture of our Commonwealth by frontiers of the ruling class.


Mr. Kyari was quoted to have said that"we want to address the energy challenges so that industrialization can come to the country."


Has any monopoly arrangements ever enthrone industrialization in any climes?


The Publish What You Pay (PWYP), Nigeria wonders why the nation's four (4) refineries that several billions of dollars have been wasted on cannot work while the managers of our economy are happy to cheaply give away the people's natural resources while host communities lives in degraded, environmentally polluted and disease invested underserved communities: and the citizenry lives in

abject poverty.


Industrialization, growth and development can only come when we deploy our resources for a productive economy away from casino economy.


When our refineries are functional, we derive several dozens of petroleum by-products like petrol, diesel, jet fuel, kerosene, paraffin, heavy fuel oil, liquefied petroleum gases (LPG), petrochemical, feedstock and bitumen. Including: fertilizer, flooring (floor covering), perfume, insecticide, petroleum jelly, soap, vitamins and some essential amino acids etc.


All these petroleum wastes will reposition thousands of our ailing and collapsed industries for value chain activities, employment and revenue generation; for the government, the informal economy and the mass of our people.


We have said it for the umpteenth time that oil swaps will continue in a weak, leaking, corrupt, and compromised system like we have suffered and continue to suffer in Nigeria.


PWYP would like NNPC to publicly provide response or publish the followings:


A) the contract between Dangote and Nigerian Government to enable citizens understand that content and commitments, and ways of monitoring the contract implementation.


B) How long will this swap continue?


C) How would this development address industrialization of the country?


D). What happens to the nation's four (4) refineries that we have wasted several billions of dollars in turn-around- maintaince (TAM), staff remunerations and other expenses?


E). Would our refineries go the way of the Discos, Gencos and other government enterprises that were grossly under valued and sold under the guise of privatization?


F). If oil swaps continue to be the focus of the oil regime in Nigeria, then the gradual transition to just clean Energy Transition (J-CET) becomes a goose chase.


G). The NNPCL said it was going to visit Saudi Arabia to learn from the operations of ARAMCO, government owned company; we wonder what lessons the management of the NNPCL brought back to the country for the purpose of doing things different to move our oil and gas sector forward.


We will readily advocate, monitor and speak against any arrangement that is akin to economic sabotage and looting of our commonwealth.


To us, productivity is the road to industrialization and national development.


COMRADE Otitolaye Taiwo 

National Coordinator

PWYP, Nigeria

 21st May 2023


The Group Managing Director of the Nigeria National Petroleum Corporation Limited (NNPCL), Mele Kyari has announced that Nigeria's national oil company

will begin to supply Dangote refinery 300,000 barrel of crude oil daily this week.


The 300,000 barrels

 is 46.2% of Dangote's daily crude oil needs.


This is another phase and beginning of corporate capture of our Commonwealth by frontiers of the ruling class.


Mr. Kyari was quoted to have said that"we want to address the energy challenges so that industrialization can come to the country."


Has any monopoly arrangements ever enthrone industrialization in any climes?


The Publish What You Pay (PWYP), Nigeria wonders why the nation's four (4) refineries that several billions of dollars have been wasted on cannot work while the managers of our economy are happy to cheaply give away the people's natural resources while host communities lives in degraded, environmentally polluted and disease invested underserved communities: and the citizenry lives in

abject poverty.


Industrialization, growth and development can only come when we deploy our resources for a productive economy away from casino economy.


When our refineries are functional, we derive several dozens of petroleum by-products like petrol, diesel, jet fuel, kerosene, paraffin, heavy fuel oil, liquefied petroleum gases (LPG), petrochemical, feedstock and bitumen. Including: fertilizer, flooring (floor covering), perfume, insecticide, petroleum jelly, soap, vitamins and some essential amino acids etc.


All these petroleum wastes will reposition thousands of our ailing and collapsed industries for value chain activities, employment and revenue generation; for the government, the informal economy and the mass of our people.


We have said it for the umpteenth time that oil swaps will continue in a weak, leaking, corrupt, and compromised system like we have suffered and continue to suffer in Nigeria.


PWYP would like NNPC to publicly provide response or publish the followings:


A) the contract between Dangote and Nigerian Government to enable citizens understand that content and commitments, and ways of monitoring the contract implementation.


B) How long will this swap continue?


C) How would this development address industrialization of the country?


D). What happens to the nation's four (4) refineries that we have wasted several billions of dollars in turn-around- maintaince (TAM), staff remunerations and other expenses?


E). Would our refineries go the way of the Discos, Gencos and other government enterprises that were grossly under valued and sold under the guise of privatization?


F). If oil swaps continue to be the focus of the oil regime in Nigeria, then the gradual transition to just clean Energy Transition (J-CET) becomes a goose chase.


G). The NNPCL said it was going to visit Saudi Arabia to learn from the operations of ARAMCO, government owned company; we wonder what lessons the management of the NNPCL brought back to the country for the purpose of doing things different to move our oil and gas sector forward.


We will readily advocate, monitor and speak against any arrangement that is akin to economic sabotage and looting of our commonwealth.


To us, productivity is the road to industrialization and national development.


COMRADE Otitolaye Taiwo 

National Coordinator

PWYP, Nigeria

Trouble looming for Sterling Bank, Osogbo branch as security operatives may have issues to settle with some of it's staff

Trouble looming for Sterling Bank, Osogbo branch as security operatives may have issues to settle with some of it's staff






 Many of the staff and security attendants of banks in Nigeria resulted to an unprofessional and repressive methods of dealing with customers since CBN naira redesign and eventual scarcity of new notes with endless problems facing bank customers.


Sterling Bank, Osogbo branch has been cought up in this web of inhumane treatment.


Security operatives have reportedly been visiting the bank since early this week following an urgly occurrence against a customer whose phone was smashed by the bank's security door on Monday 6th March, 2023.


Our source confirmed that Alhaja (name whited) whose phone was smashed was in the bank to make a complain about her numerous money transfers that were not delivered. When she was about to enter the bank, the bank's door was remote controlled from the control room and damaged her phone (Hot 10 play).


The complain about the damaged phone was made to the bank manager and the business manager as well. The bank response was that woman should just accept the damage/lost or what if the phone got damaged in another circumstances, what will she do?


The woman demanded to see the Bank's security officer who was responsible for the incident but was denied. It was also said that Bank business manager said the fault must be from the customer not the bank security officer.


It was leant that the CCTV footage review has been demanded for but both the bank manager and business manager are said to be noncooperating. 


It was also leart that an arrest order has been issued against the concerned officials. Today been Saturday, further enquires from the bank seems difficult.


The fact remained that Nigerians have been subjected to an untold hardship and economy of many individuals and families crippled under the current policy.


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 Many of the staff and security attendants of banks in Nigeria resulted to an unprofessional and repressive methods of dealing with customers since CBN naira redesign and eventual scarcity of new notes with endless problems facing bank customers.


Sterling Bank, Osogbo branch has been cought up in this web of inhumane treatment.


Security operatives have reportedly been visiting the bank since early this week following an urgly occurrence against a customer whose phone was smashed by the bank's security door on Monday 6th March, 2023.


Our source confirmed that Alhaja (name whited) whose phone was smashed was in the bank to make a complain about her numerous money transfers that were not delivered. When she was about to enter the bank, the bank's door was remote controlled from the control room and damaged her phone (Hot 10 play).


The complain about the damaged phone was made to the bank manager and the business manager as well. The bank response was that woman should just accept the damage/lost or what if the phone got damaged in another circumstances, what will she do?


The woman demanded to see the Bank's security officer who was responsible for the incident but was denied. It was also said that Bank business manager said the fault must be from the customer not the bank security officer.


It was leant that the CCTV footage review has been demanded for but both the bank manager and business manager are said to be noncooperating. 


It was also leart that an arrest order has been issued against the concerned officials. Today been Saturday, further enquires from the bank seems difficult.


The fact remained that Nigerians have been subjected to an untold hardship and economy of many individuals and families crippled under the current policy.


More photos and video of the smashed phone πŸ‘‡πŸ‘‡ 















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A1 PREMIER MODEL ACADEMY LTD, OSOGBO, OSUN STATE, NIGERIA

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Kolmani Oil Discovery: What it means Ahmed Adamu, PhD

Kolmani Oil Discovery: What it means Ahmed Adamu, PhD

Some Nigerians had some euphoria as the game-changing oil and gas discovery in Kolmani, a Northern Nigerian area, was announced. It is the first Northern Nigerian proven petroleum reserve, sixty-six years after petroleum discovery in southern Nigeria. "What does this discovery mean to us as Nigerians and northerners," someone from the north called and asked me.


An estimated proven reserve of 1 billion barrels of crude oil and 500 billion cubic feet of natural gas were found in an oil field that straddles Bauchi and Gombe states, known as the Kolmani oil field. The commercial quantity of the oil reserve in this area could increase in the future. 


Anywhere oil is found in Nigeria belongs to the federation. The only benefits to the host community are the 3% of the oil operating cost in the area from the preceding year and the constitutional 13% derivation funds to the state government. The new oil-rich states will benefit from these two sources.


The 3% is only for the oil-bearing communities; other non-oil-bearing communities will not benefit from it. At the same time, 13% of all the revenue generated from the oil produced in the state will go to the state government. Oil-producing states and their host communities could get more than N100 billion in a year from these two sources alone. 


Other extended benefits to the new oil-rich states could be direct jobs for high, medium, and small-skilled labor. Already some Indian oil companies have shown interest in becoming partners in developing the onshore Kolmani oil fields. 


Onshore oil production in Nigeria, like the Kolmani field, is not attractive to major oil-producing companies. The five major oil companies operating in Nigeria are divesting from onshore and shallow water oil fields despite the recent reduction in taxes and royalties in the PIA. Oil companies prefer deep water oil production to avoid hostilities from restiveness, vandalism, and insecurity associated with the onshore oil production areas. 


Because of what is stated in the PIA relating to the 3% for host communities, the Kolmani oil production should not experience restiveness and vandalism. The PIA said, "In any year where an act of vandalism, sabotage or other civil unrest occurs which causes damage to petroleum and designated facilities or disrupts production activities within the host communities, the community will forfeit its entitlement to the extent of the cost of repairs". Host communities' benefits are now tied to the smooth running of the oil production in their area.


NNPC limited will be the Kolmani oil and gas concessionaire and will lift Nigeria's profit oil and gas from the oil field and transfer the proceeds to the Nigerian Petroleum Upstream commission after deducting its service cost. However, the profit oil could only be derived after cost recovery by the developers of the field, known as contractors. 


The New Nigeria Development Company (NNDC) is the lease owner for petroleum mining on the field. But, could NNDC be able to develop this new oil field? No. NNDC may not have the technical and financial readiness to develop the Kolmani field yet. Therefore, oil companies must be contracted to spend millions of dollars and provide technical expertise to develop the area. 


There will not be a profit oil and gas from the field until after some years of production to allow the contractors to recover their cost, but this depends on the oil price and contract agreements. Mainly the cost incurred by the contractor in developing the field is amortized and may take up to the first five years of production, and then the profit sharing will start. This is to allow the operators to recover their costs of development. The government will transfer the exploration costs to the operator, which will add to the total cost of oil. 


The only money that will be accruing to the federation account in the early years of production will be the royalty crude and hydrocarbon taxes (only if there is a profit), which are 15% and 30% of the crude oil produced, respectively. It could take between five to ten years to develop the field. So, any financial benefits will be after developing the area. 


Would the focus be on developing crude oil only or both crude oil and gas? Natural gas has far-reaching economic benefits, but developing it is more expensive. With the ongoing gas pipeline projects, there could be more gas supply from this field which will help industrial growth in the country. 


Now, some states will begin to suspect their possible oil and gas reserves. We can now conclude that every part of Nigeria has a possible oil and gas reserve. With the first oil discovery in the north and with the creation of the Frontier Exploration Funds, more exploration will be undertaken in the north. The Frontier Exploration Fund is funded by 30% of the NNPC Limited profit oil and gas and 10% of all rents on petroleum licenses and leases. 


Many states are facing debt and development issues and might wish to have more control and access to the natural resources in their states to fix their problems. More oil, gas, and other natural resources could be harnessed when state governments are given the right to control those resources. States will maximize their potential resources to outcompete each other. 


In the event of states' resource control, people ask, how could border states handle shared oil and gas fields that cross their borders? Just like the Kolmani oil and gas field, which straddles across Gombe and Bauchi states. Any state that produces more at the border areas may draw more oil from the neighboring state. So, who drills first captures the oil.


 To avoid over-production and damage to the environment at the border areas, the neighboring states should unify the oil field, appoint a single operator, and share the profit based on where the field lies in relation to the boundary. State governments in a geo-political zone could undertake this kind of unification. 


Even after states' resource control, further oil explorations will continue to search for more oil and gas reserves in the states that do not confirm their petroleum deposits yet. So, non-oil-producing states could become oil producers eventually. 


With oil fading away and growing restrictions on the use of fossil fuels, we can maximize the utilization of our endowed petroleum resources to build infrastructure and the economy and fund alternative energy sources and consumption. 


Finally, more oil reserves without growing and functioning refineries will not make any difference. The focus should be on functioning and adequate refineries locally to stop importing refined petroleum. Imported refined petroleum is the biggest bill in our import basket. Having local refineries will help restore the value of our exchange rates. Government refineries must be privatized as soon as possible, and modular refineries should be encouraged to grow their efficiencies and capacities. So, the discovery of oil and gas in the Kolmani area is not a given benefit; it is a potential benefit, so celebrate not yet. 


Ahmed Adamu, PhD

Petroleum Economist

[email protected]



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Some Nigerians had some euphoria as the game-changing oil and gas discovery in Kolmani, a Northern Nigerian area, was announced. It is the first Northern Nigerian proven petroleum reserve, sixty-six years after petroleum discovery in southern Nigeria. "What does this discovery mean to us as Nigerians and northerners," someone from the north called and asked me.


An estimated proven reserve of 1 billion barrels of crude oil and 500 billion cubic feet of natural gas were found in an oil field that straddles Bauchi and Gombe states, known as the Kolmani oil field. The commercial quantity of the oil reserve in this area could increase in the future. 


Anywhere oil is found in Nigeria belongs to the federation. The only benefits to the host community are the 3% of the oil operating cost in the area from the preceding year and the constitutional 13% derivation funds to the state government. The new oil-rich states will benefit from these two sources.


The 3% is only for the oil-bearing communities; other non-oil-bearing communities will not benefit from it. At the same time, 13% of all the revenue generated from the oil produced in the state will go to the state government. Oil-producing states and their host communities could get more than N100 billion in a year from these two sources alone. 


Other extended benefits to the new oil-rich states could be direct jobs for high, medium, and small-skilled labor. Already some Indian oil companies have shown interest in becoming partners in developing the onshore Kolmani oil fields. 


Onshore oil production in Nigeria, like the Kolmani field, is not attractive to major oil-producing companies. The five major oil companies operating in Nigeria are divesting from onshore and shallow water oil fields despite the recent reduction in taxes and royalties in the PIA. Oil companies prefer deep water oil production to avoid hostilities from restiveness, vandalism, and insecurity associated with the onshore oil production areas. 


Because of what is stated in the PIA relating to the 3% for host communities, the Kolmani oil production should not experience restiveness and vandalism. The PIA said, "In any year where an act of vandalism, sabotage or other civil unrest occurs which causes damage to petroleum and designated facilities or disrupts production activities within the host communities, the community will forfeit its entitlement to the extent of the cost of repairs". Host communities' benefits are now tied to the smooth running of the oil production in their area.


NNPC limited will be the Kolmani oil and gas concessionaire and will lift Nigeria's profit oil and gas from the oil field and transfer the proceeds to the Nigerian Petroleum Upstream commission after deducting its service cost. However, the profit oil could only be derived after cost recovery by the developers of the field, known as contractors. 


The New Nigeria Development Company (NNDC) is the lease owner for petroleum mining on the field. But, could NNDC be able to develop this new oil field? No. NNDC may not have the technical and financial readiness to develop the Kolmani field yet. Therefore, oil companies must be contracted to spend millions of dollars and provide technical expertise to develop the area. 


There will not be a profit oil and gas from the field until after some years of production to allow the contractors to recover their cost, but this depends on the oil price and contract agreements. Mainly the cost incurred by the contractor in developing the field is amortized and may take up to the first five years of production, and then the profit sharing will start. This is to allow the operators to recover their costs of development. The government will transfer the exploration costs to the operator, which will add to the total cost of oil. 


The only money that will be accruing to the federation account in the early years of production will be the royalty crude and hydrocarbon taxes (only if there is a profit), which are 15% and 30% of the crude oil produced, respectively. It could take between five to ten years to develop the field. So, any financial benefits will be after developing the area. 


Would the focus be on developing crude oil only or both crude oil and gas? Natural gas has far-reaching economic benefits, but developing it is more expensive. With the ongoing gas pipeline projects, there could be more gas supply from this field which will help industrial growth in the country. 


Now, some states will begin to suspect their possible oil and gas reserves. We can now conclude that every part of Nigeria has a possible oil and gas reserve. With the first oil discovery in the north and with the creation of the Frontier Exploration Funds, more exploration will be undertaken in the north. The Frontier Exploration Fund is funded by 30% of the NNPC Limited profit oil and gas and 10% of all rents on petroleum licenses and leases. 


Many states are facing debt and development issues and might wish to have more control and access to the natural resources in their states to fix their problems. More oil, gas, and other natural resources could be harnessed when state governments are given the right to control those resources. States will maximize their potential resources to outcompete each other. 


In the event of states' resource control, people ask, how could border states handle shared oil and gas fields that cross their borders? Just like the Kolmani oil and gas field, which straddles across Gombe and Bauchi states. Any state that produces more at the border areas may draw more oil from the neighboring state. So, who drills first captures the oil.


 To avoid over-production and damage to the environment at the border areas, the neighboring states should unify the oil field, appoint a single operator, and share the profit based on where the field lies in relation to the boundary. State governments in a geo-political zone could undertake this kind of unification. 


Even after states' resource control, further oil explorations will continue to search for more oil and gas reserves in the states that do not confirm their petroleum deposits yet. So, non-oil-producing states could become oil producers eventually. 


With oil fading away and growing restrictions on the use of fossil fuels, we can maximize the utilization of our endowed petroleum resources to build infrastructure and the economy and fund alternative energy sources and consumption. 


Finally, more oil reserves without growing and functioning refineries will not make any difference. The focus should be on functioning and adequate refineries locally to stop importing refined petroleum. Imported refined petroleum is the biggest bill in our import basket. Having local refineries will help restore the value of our exchange rates. Government refineries must be privatized as soon as possible, and modular refineries should be encouraged to grow their efficiencies and capacities. So, the discovery of oil and gas in the Kolmani area is not a given benefit; it is a potential benefit, so celebrate not yet. 


Ahmed Adamu, PhD

Petroleum Economist

[email protected]



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You can not dissociate Bola Hamed Tinubu, Atiku Abubakar from Buhari led APC failures

You can not dissociate Bola Hamed Tinubu, Atiku Abubakar from Buhari led APC failures

 WHEN WOULD SOME NIGERIANS GROW AND MATURE SOCIOPOLITICALLY?









Late Dr. Chuba Okadigbo once said, "If you are emotionally attached to your tribe, religion, or political leaning to the point that truth and justice become secondary considerations, your education and exposure are useless. If you cannot reason beyond petty sentiments, you are a liability."


Yesterday I watched a random survey in Ibadan, Oyo State, conducted by Marabox TV who, of the three major Presidential Candidates, Atiku Abubakar, Bola Tinubu and Peter Obi (in alphabetical order of their first names), the electorates may like votes for in February 2023. The surveyor did an excellent job asking each respondent if they have a PVC, which they all answered in the affirmative. By my count, 32 people were interviewed. 


Bola Tinubu and Peter Obi tied at 13 each, while Atiku was 3 and 3 undecideds.


Pause: If this is anything to go by, Southwest MIGHT be a straight fight between Bola Tinubu and Peter Obi. 


However, this is not my concern. What worries me is the reason the 13 responders of Bola Tinubu gave for wanting to vote Bola Ahmed Tinubu. None of them could provide a sound basis for voting Tinubu EXCEPT Yorubalokan/Emilokan. On further prompting, some said they didn't want to be seen as betrayers of their race. One stood out for me.


QUESTION: In the coming Presidential elections next year, which of the 3 candidates will you be voting for?


ANSWER: (with a broad smile on his face) Asiwaju Bola Ahmed Tinubu, the Jagaban


QUESTION: Why do you want to vote for Tinubu?


ANSWER: Because APC has disappointed us. This is not the change they promise us. We are suffering. (The tales of woes went on for a while.)


QUESTION: Do you know that Tinubu is a member of the APC, in fact, he is the leader of the APC party?


ANSWER: Yes, I know


QUESTION: And you still want to vote for him


ANSWER: Yes, because Tinubu is not Buhari, even though they are of the same party. Besides Tinubu is Yoruba and I am a Yoruba man!

 

The questionnaire could hardly disguise his disappointment as he visibly shook his head while thanking him for his answers.

 

MEE: So, they still want to vote for the leading player, the leader of the gang, Bola Ahmed Tinubu, who aided and abetted APC/Buhari's disastrous government into power because he is Yoruba, all wrong forgotten. 


Chuba Okadigbo, quoted above, immediately came to mind at the end of the survey. Indeed, enslavement to tribal, religious, and other primordial sentiments has rendered our education useless and made us a liability to society as we cannot develop and progress at the pace we should be due to mutual distrust predicated on tribal and religious leanings. 


For example, the UK has just elected a PM of Indian lineage. German and Nigerian girls at the just concluded Under-17 women's world cup in India danced together to Buga song even though one of them came out victorious during the 3rd place encounter. Yet our fathers and mothers are still thinking of tribe and religion, celebrating and promoting failure to the detriment of our national cohesion and interests. 


How could one not see APC as the government in power is a total failure? A government that, as a political party in 2015 led by Asiwaju Bola Ahmed Tinubu and defected PDPs, including Atiku Abubakar, employed deadly force via Boko Haram and kidnapping of innocent schoolgirls to remove a sitting government. 


We breathe, live, sleep, walk and talk about the failures of the APC administration. Yet someone said Tinubu is not Buhari and pinned his hope on Tinubu to do better than Buhari! HOW? APC administration elevated nepotism to a dizzying height. The dollar, as I am typing this, is N1000! The cost of living has tripled, if not quadrupled. Killings, maiming, kidnapping, rampaging and destruction of properties and communities have become standard. 


On the world's poverty Index, Nigeria is 121 out of 123, 2nd year in a row. Our debts have outstripped our GDP. Buhari and Tinubu are now printing Naira to pay debt and shore up our currency with no end in sight. Our security apparatus is in disarray even though APC/Buhari's kit and kin are in charge. They are providing coverage to insurgents, kidnappers, bandits and unknown gunmen. Our educational system has completely collapsed. 


Our economy is comatose, which Tinubu contributed hugely to when he recommended Trader Moni and school feeding programs to Buhari. Both programs failed woefully and plunged the nation into colossal debt. The list of woes of the APC administration goes on.


APC/Buhari's administration has inflicted more harm on the fabric of Nigeria than all other administrations put together except during the civil war. We are now more conscious of our divisions and differences than ever before. It is now them against us. The heightened demand by ethnic groups for self-determination is a clear testimony. Yet some Nigerians see no wrong. Instead, they attempted to disassociate Bola Ahmed Tinubu and Atiku Abubakar from Buhari even though Tinubu has vowed to continue Buhari's legacy.

 

Please, the Almighty God, in humble supplication to YOU, may this bitter cup of affliction pass us. May we fast and pray that Tinubu does not win, NEVER AGAIN. There will be no change. The only difference will be taking Nigeria from the bottom, where Buhari stops, to a rotten situation and then turning it into a bad one.


REJECT tribe and religion as they never augur well for any country. Remember Rwanda, Congo, Sudan, Angola and many others. Eschew ethnicity.          


THINK Pan Nigerian. 


THINK and VOTE Wisely. 


Vote for Integrity. Vote for Capability. Vote for Competence. Vote for Courage to do what is right. 

It

Vote For Sustained Economic and Physical Development.

 

Vote to Take Our Country, Nigeria, back from wolves parading as leaders who have turned the stealing of our commonwealth into statecraft. 


Vote to bring Nigeria back from the precipice.


Source - Social media







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 WHEN WOULD SOME NIGERIANS GROW AND MATURE SOCIOPOLITICALLY?









Late Dr. Chuba Okadigbo once said, "If you are emotionally attached to your tribe, religion, or political leaning to the point that truth and justice become secondary considerations, your education and exposure are useless. If you cannot reason beyond petty sentiments, you are a liability."


Yesterday I watched a random survey in Ibadan, Oyo State, conducted by Marabox TV who, of the three major Presidential Candidates, Atiku Abubakar, Bola Tinubu and Peter Obi (in alphabetical order of their first names), the electorates may like votes for in February 2023. The surveyor did an excellent job asking each respondent if they have a PVC, which they all answered in the affirmative. By my count, 32 people were interviewed. 


Bola Tinubu and Peter Obi tied at 13 each, while Atiku was 3 and 3 undecideds.


Pause: If this is anything to go by, Southwest MIGHT be a straight fight between Bola Tinubu and Peter Obi. 


However, this is not my concern. What worries me is the reason the 13 responders of Bola Tinubu gave for wanting to vote Bola Ahmed Tinubu. None of them could provide a sound basis for voting Tinubu EXCEPT Yorubalokan/Emilokan. On further prompting, some said they didn't want to be seen as betrayers of their race. One stood out for me.


QUESTION: In the coming Presidential elections next year, which of the 3 candidates will you be voting for?


ANSWER: (with a broad smile on his face) Asiwaju Bola Ahmed Tinubu, the Jagaban


QUESTION: Why do you want to vote for Tinubu?


ANSWER: Because APC has disappointed us. This is not the change they promise us. We are suffering. (The tales of woes went on for a while.)


QUESTION: Do you know that Tinubu is a member of the APC, in fact, he is the leader of the APC party?


ANSWER: Yes, I know


QUESTION: And you still want to vote for him


ANSWER: Yes, because Tinubu is not Buhari, even though they are of the same party. Besides Tinubu is Yoruba and I am a Yoruba man!

 

The questionnaire could hardly disguise his disappointment as he visibly shook his head while thanking him for his answers.

 

MEE: So, they still want to vote for the leading player, the leader of the gang, Bola Ahmed Tinubu, who aided and abetted APC/Buhari's disastrous government into power because he is Yoruba, all wrong forgotten. 


Chuba Okadigbo, quoted above, immediately came to mind at the end of the survey. Indeed, enslavement to tribal, religious, and other primordial sentiments has rendered our education useless and made us a liability to society as we cannot develop and progress at the pace we should be due to mutual distrust predicated on tribal and religious leanings. 


For example, the UK has just elected a PM of Indian lineage. German and Nigerian girls at the just concluded Under-17 women's world cup in India danced together to Buga song even though one of them came out victorious during the 3rd place encounter. Yet our fathers and mothers are still thinking of tribe and religion, celebrating and promoting failure to the detriment of our national cohesion and interests. 


How could one not see APC as the government in power is a total failure? A government that, as a political party in 2015 led by Asiwaju Bola Ahmed Tinubu and defected PDPs, including Atiku Abubakar, employed deadly force via Boko Haram and kidnapping of innocent schoolgirls to remove a sitting government. 


We breathe, live, sleep, walk and talk about the failures of the APC administration. Yet someone said Tinubu is not Buhari and pinned his hope on Tinubu to do better than Buhari! HOW? APC administration elevated nepotism to a dizzying height. The dollar, as I am typing this, is N1000! The cost of living has tripled, if not quadrupled. Killings, maiming, kidnapping, rampaging and destruction of properties and communities have become standard. 


On the world's poverty Index, Nigeria is 121 out of 123, 2nd year in a row. Our debts have outstripped our GDP. Buhari and Tinubu are now printing Naira to pay debt and shore up our currency with no end in sight. Our security apparatus is in disarray even though APC/Buhari's kit and kin are in charge. They are providing coverage to insurgents, kidnappers, bandits and unknown gunmen. Our educational system has completely collapsed. 


Our economy is comatose, which Tinubu contributed hugely to when he recommended Trader Moni and school feeding programs to Buhari. Both programs failed woefully and plunged the nation into colossal debt. The list of woes of the APC administration goes on.


APC/Buhari's administration has inflicted more harm on the fabric of Nigeria than all other administrations put together except during the civil war. We are now more conscious of our divisions and differences than ever before. It is now them against us. The heightened demand by ethnic groups for self-determination is a clear testimony. Yet some Nigerians see no wrong. Instead, they attempted to disassociate Bola Ahmed Tinubu and Atiku Abubakar from Buhari even though Tinubu has vowed to continue Buhari's legacy.

 

Please, the Almighty God, in humble supplication to YOU, may this bitter cup of affliction pass us. May we fast and pray that Tinubu does not win, NEVER AGAIN. There will be no change. The only difference will be taking Nigeria from the bottom, where Buhari stops, to a rotten situation and then turning it into a bad one.


REJECT tribe and religion as they never augur well for any country. Remember Rwanda, Congo, Sudan, Angola and many others. Eschew ethnicity.          


THINK Pan Nigerian. 


THINK and VOTE Wisely. 


Vote for Integrity. Vote for Capability. Vote for Competence. Vote for Courage to do what is right. 

It

Vote For Sustained Economic and Physical Development.

 

Vote to Take Our Country, Nigeria, back from wolves parading as leaders who have turned the stealing of our commonwealth into statecraft. 


Vote to bring Nigeria back from the precipice.


Source - Social media







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