All Posts in "Month: July 2021"

Nigeria Must Emulate China-Obasanjo

Nigeria Dripping With Bitterness, Sadness – Obasanjo
Former President of Nigeria, Chief Olusegun Obasanjo,has urged Nigeria to learn from China’s innovative approaches that led it to the super power status.
The former President gave the advice  in a congratulatory message to Communist Party of China centenary celebration.
He said:”Africa must be innovative, shrewd and resourceful to know where and how to jumpstart technology, not by re-inventing the wheel but by being only a step behind the cutting edge of science and technology and by being part of the creation of relevant technology for our needs, development and progress. Africa must not be detached from the world of science, technology and innovation led by China.”
He also acknowledged the role of China in Nigeria’s infrastructure development, notably in construction of railway lines and road reconstruction across the country.
He revealed  how he enabled a sustained relationship with China during his tenure as the President of Nigeria, a development which he said was able to strengthen the bond between the two countries till date.
“Since establishing diplomatic relations with China in 1971, Nigeria’s relationship with China has developed into one of the most important bilateral relationships maintained by either country. The relationship has broadened and deepened with China’s growing power and interest in securing its regional interests (particularly within the South China Sea), and taking its place as a major global actor. China and Nigeria have signed a number of agreements on trade, economic and technological cooperation as well as on investment protection.
“In May 1999 when Nigeria returned to constitutional democracy, I visited China twice in 2001 and 2005 respectively with my Chinese counterpart reciprocating both visits. The combination of domestic political and economic reforms and policy re-alignment enabled Nigeria to re-open dialogue and cooperation with major trading partners.
“As a result, there was evidence of growth in the country’s trade relations with its traditional allies as well as emerging economies such as India and China. Indeed, by 2004-2005, China has succeeded in displacing other countries such as the United States, United Kingdom and the Netherlands as Nigeria’s biggest trading partner”
 He recalled how the decision and policies of the founding fathers of the Peoples’ Republic of China marketed China to the world and consequently rubbed off positively on global economies, including Nigeria.
“The party has led the country from the era of Chairman Mao to become the economic powerhouse it is today. At $16.64 trillion GDP, it’s the second largest economy after USA with $22.68 trillion GDP.
“With the founding of the People’s Republic of China, headed by Mao Zedong who is regarded as the Founding Father of Modern China, China’s leaders began  their exploration of the road to socialist industrialization and modernization. “Working towards the goal of economic modernization, their strategy moved from ‘national industrialization’ to four modernizations. Mao was responsible for many of the political initiatives that transformed the face of China”
Online Editor by — July 1, 2021 in News 0
Rape :  Trader Bags 25-Years

LAGOS COURT SENTENCES TRADER TO TWENTY-FIVE YEARS IMPRISONMENT FOR RAPE. – securityandsafetymatters
A Lagos State Sexual Offences and Domestic Violence Court sitting in Ikeja, has
sentenced a 43-year old trader, Adelaja Oloyede, to 25-years imprisonment for raping a tailor at Ikorodu area of Lagos State.
Justice Abiola Soladoye  gave the  verdict on the convict after he was found guilty of a charge of rape filed against him by Lagos State.
Oloyede was earlier arraigned on April 10, 2019  by the Directorate of Public Prosecutions,  Lagos State Ministry of Justice on a lone- count charge of rape.
He pleaded not guilty to the charge on rape in 2017 at his residence on No. 2, Adelaja Str. Ikorodu, Lagos .
The prosecuting team led by Olusola Soneye, a deputy director in the Directorate of Public Prosecutions said the victim, apart from being raped was sexually harrassed and coaxed to insert some fetish substance into her private part.
He added that the victim who was a virgin before the incident pleaded with the defendant during the rape incident, but her plea fell on deaf ears.
” The defendant overpowered her, tore her underwear and raped her.
As a result of the rape the victim fell ill and was treated in Kwara State”, Prosecuting Counsel, Olusola noted.
 During the trial, the Prosecuting team presented before the court four Witnesses; the victim, her sister, the Investigating Police Officer (IPO) and a Medical doctor.
The Prosecution also tendered the victim’s blood- stained underwear and a black- tie as exhibits to the Court.
According to the victim, the defendant, forcefully had sexual intercourse with her and inserted a fetish substance in her private part afterwards.
“I was on my way to church on the day of the incident, Oloyede shook my hands and thereafter I followed him to his house, where he led me into a room where there was numerous fetish items”
“He asked me to kneel and he made several incantations” the victim explained.
The victim told the court that she reported the crime to the authorities immediately after she left the defendant’s residence.
Justice Abiola Soladoye found the defendant guilty of the charge of rape contrary to section 260 of the Criminal Law of Lagos State 2015.
She said that the Prosecution team had proved its case against the defendant beyond all reasonable doubts.
Consequently, the defendant having been found guilty of the charge of  rape was sentenced to 25 years imprisonment by the Court.
The Judge further ordered that Oloyede Adelaja should be registered as a Sex Offender in the Lagos State Sex Offender’s Register.
Online Editor by — July 1, 2021 in Law/Human Rights 0
NDPHC’s 15km 33kV Line  To Restore Electricity To  Osun Community 10 Years After Black Out

The Niger Delta Power Holding Company (NDPHC) Limited has  flagged off the construction of a new 15 kilometers 33kV line from Ile-Ife Transmission Substation to Garage-Olode Town, Ife South Local Government Area of Osun State.
The project when completed will restore power supply to the area which has been without electricity supply for over 10 years.
Speaking at the occasion, the Executive Director, Networks,  NDPHC, Engr. IfeOluwa Oyedele said the distribution intervention project also includes the rehabilitation of the 15km 33kV Ifetedo/Garage-Olode power line.
Oyedele stated that the project would see the dualisation of 3km of 33KVA line from Mayfair roundabout to Modakeke, adding that 8 Nos of 300 KVA and 8 Nos of 500KVA distribution transformers will be supplied and installed in the community.
He described the flag-off of the project construction as historic as it marked “the commencement of the construction of a project that is conceived and will be implemented to improve lives and economic activities in Garage-Olode Town in Osun State”.
He  commended the Osun State Governor, Adegboyega Oyetola for pushing hard for the project.
According to him, “Following the intervention of the Governor of Osun State, we at NDPHC, in keeping with our mandate to improve electricity infrastructure in Nigeria visited Garage-Olode Community for location inspection and discovered that the Community electricity supply is being fed from old Akure Transmission Substation which has been dilapidated for a very long time”.
He explained that “in scoping this project, we engaged with IBEDC and we have been assured that the intervention of NDPHC in the improvement of electricity infrastructure in this Community will align with their proposed infrastructure upgrade in the Community and the entire State.
“With this intervention, there will be great improvement in the condition of living of the people, socio-economic activities, commerce and industry and general wellbeing in Garage-Olode Community. All these, the people owe to a thoughtful and purposeful leader President Mohammadu Buhari and supported by Mr. Adegboyega Oyetola”, he added.
Also speaking at the event, Governor Oyetola who flagged-off the project praised the people for the area for their patience in the past ten years without electricity supply.
“For me, today is a day of joy as history is being made. I am elated that we have now brought to an end the tortuous journey that left you, our dear people, in darkness for over ten years”, he stated.
Gov. Oyetola also thanked NDPHC for executing the project noting that “through this project, power supply will be restored to Ife South West LCDA, thus ending the unpalatable decade of power outage”.
He said the power intervention efforts will also help to power towns and villages such as Iyanfoworogi, Aye Coker, Aye-Oba, Wanikin Eleja, Egbejoda, Idi Obi and Ali Ahanran in this first phase, and when completed, the project will cover the entire Ife South Local Government and the LCDA.
Governor Oyetola said the project occupied a strategic place in his Administration’s agenda to empower the benefiting communities to contribute substantially to the development of the State.
Speaking earlier, Commissioner for Water Resources and Energy, Osun State, Dr. Amidu Tadese Raheem, expressed gratitude to the Governor for his intervention which according to him will go a long way to restore the lost glory of the communities in terms of socioeconomic and commercial activities in the affected areas.
In his remarks, member, Osun House of Assembly representing Ife-South State Constituency, Hon. Benjamin Ogundipe, described the project as one that would bring succour to the people of his constituency.
He commended the Governor for taking their welfare to the frontline of his Administration’s priorities despite the socioeconomic realities of the State.
In their separate remarks, the Olubosin of Ifetedo, Oba Akinola Akinrera, and the Olu of Olode, Oba David Omisore, expressed their profound gratitude to the Governor for taking their subjects out of protracted darkness that had paralysed the socioeconomic activities of the areas in the last ten years.
The Executive Director, Networks NDPHC, who was later treated to a warm reception after the flag-off event by the Governor of Osun state; Mr. Adegboyega Oyetola was accompanied to the groundbreaking ceremony by the Techical Team comprising of Engr. Moses Mele Gadzama, GM Distribution NDPHC, Mr Ezenwa Odigbo, GM Environment & Community Relations NDPHC, Mrs. Olufunke Nwankwo, Head, Communication & PR NDPHC and other members of staff from Distribution & C & PR departments.
Online Editor by — July 1, 2021 in Power 0
FRSC Auctions  Unclaimed Vehicles

The Federal Road Safety Corps (FRSC), Akwa Ibom Command,  has concluded plans to  auction all unclaimed vehicles in its custody.
Mr Paul James, the command’s Public Enlightenment / Public Relations Officer,who conveyed the and in a statement  said that all vehicles impounded within the last six months and unclaimed would soon be auctioned.
He said the corps reserved the right to invoke relevant sections of the law to auction any impounded vehicles not claimed after six months.
According to him, traffic offenders offered with offence sheets and their documents confiscated and vehicles impounded should claim their vehicles or be auctioned.
He said:“Consequently, traffic offenders who are issued with notice of offence sheet, either have their documents confiscated or vehicles impounded to secure payment of their fine or prosecution as the case may be.Unfortunately, people tend to forget the fact that any unclaimed impounded vehicle that have exceeded six months in FRSC custody, the Corps shall invoke the relevant sections of the law to dispose of the unclaimed vehicles by auction.
“However, this serves as reminder to the general public that the provisions of the extant regulations backing FRSC to carry out such obligations as contained in section 10 (5) (b) & (h) and section 10 (b) of the (Establishment) Act, 2007 which stipulates that. In the discharge of the functions of the Corps by or under this Act and notwithstanding the provision of section 18 (1) of the Act, a member of the Corps shall have power to impound any vehicle by which any offence under this Act is reasonably suspected to have been committed.
“Provided that if the driver or owner of the vehicle fails to reclaim such vehicle within six months of the date of its detention. The Corps may apply to the High Court for an order forfeiting the vehicle to the Corps, which may thereafter, dispose of the vehicle by public auction and deposit the proceed of the sale into the Government treasury,” James said.
He said that the FRSC was the statutory agency responsible for traffic management, preventing and minimising road traffic crashes on the highways.
He  advised the general public to adhere to all traffic rules and regulations aimed at ensuring a safe motoring environment and ease of doing business in the state and the nation in general.
Online Editor by — July 1, 2021 in Motoring 0
Illegal Firearms: Offenders To Get  3- Year Jail Term

The Senate on Wednesday okayed a 3 year jail term or N3 million naira fine, or both, as  penalties for anyone convicted for illegally possessing or dealing in firearms in the country.
The passage of the amended bill followed the consideration of a report by the Committee on Judiciary, Human Rights and Legal Matters.
Titled: Firearms Act (Amendment) Bill, 2021, the piece of legislation amends Section 35 (2) of the Principal Act which previously provided a fine of just N1000 naira as penalty.
The amendment to Section 35(2), which is captured in Clause 4 of the bill, provides for stiffer penalties for the illegal possession of firearms and ammunitions by any individual, organization or corporate entity.
The upper chamber inserted a new Section 39 after Section 38 of the Principal Act, to make it lawful for any officer of the Nigerian Armed Forces, Nigeria Police Force, Nigeria Customs Service, Nigeria Security and Civil Defence Corps and officers of other law enforcement agencies to seize and confiscate any illicit and illegal firearms imported into the country without any valid import documents.
The new section also empowers security agents to make arrest, and to seize firearms in possession of any individual, corporate bodies and other organizations, without a valid license.
The new section also empowers the head of agency responsible for the seizure, to create a place for safe custody of the firearms, as well as designate officers whose responsibility it shall be to record the details of the firearms in a database.
This is as it provides that the agency responsible for the confiscation or seizure of illegal firearms shall within fourteen days (14) days deposit the confiscated and seized firearms with the Office of the National Security Adviser, who shall act as the Central Coordinating Body for all illicit and illegal firearms seized by any law enforcement agency.
The Senate sequel to receiving the Committee’s report, dissolved into the Committee of the Whole to carry out a clause-by-clause consideration of the Committee’s recommendations on the bill.
Upon receipt of the confiscated illegal firearms, the new Section  provides that the National Security Adviser in collaboration with the Armed Forces shall assess and separate the firearms that are of military serviceable grades to be deployed to the military; and serviceable but not of military grades to be deployed for use by Civilian Joint Task Force (JTF) and Registered Vigilantes under the approval and supervision of the Office of the National Security Adviser.
Also, in accordance with Section 39 subsection (4), same provides that arrangement shall be put in place by the Office of the National Security Adviser for the destruction of the unserviceable firearms during a destruction ceremony.
However, the destruction ceremony referred to in subsection (6) gives the Office of the National Security Adviser a maximum period of two months to carry out same after seizure of illegal firearms.
Besides, the Senate inserted new Section 41 in the Principal Act which provides for the recycling of waste materials from destroyed firearms.
Online Editor by — July 1, 2021 in News 0
No Going Back On Acquisition Of 20% Stake In Dangote Refinery-NNPC

The Nigerian National Petroleum Corporation(NNPC),has said that it would go ahead to acquire 20percent stake in 650,000bpd Dangote refinery.
The Managing Director of the corporation,Melee Kyari,who  disclosed this during a live television programme,assured that  the NNPC would recover its cost in the refinery in five years.
He  stated that he was unsure if Aliko Dangote would be interested in the proposal of the corporation to buy 20 per cent stake in the private facility.
He announced that the oil firm saved over $1bn of the cost that would have been built in on the top of petroleum products imports into Nigeria.
Kyari said NNPC was able to get petrol at the pumps at about N256/litre, whereas the cost of the commodity would have been about N290/litre.
According to him,since the cost of diesel was currently N280/litre, the price of petrol would have been N10 higher than diesel price, but that NNPC had been able to bring it into Nigeria at about N256/litre.
He noted that despite the fact that NNPC was bringing in the commodity at the N256/litre rate, it had maintained the cost to marketers at about N160/litre.
According to him:“Today NNPC is the sole importer of petroleum products. We are proudly saying as a company today that we have saved over $1bn of cost that would have been built in on the top of importing petroleum products into this country.
“And this is by the fact that we have a much more transparent import process and a partnership arrangement that is ensuring that value is returned to the shareholders.”
He added, “That means, instead of having a value beyond N280/litre, we are delivering products to the pump today at N256/litre and this means that we are saving over N30/litre because of the transparency that we have put in place.
“But what we are selling to the market is about N160/litre and these reasons are very obvious.”
He said the cost of petrol would remain at the current rate until the ongoing engagements with labour on the matter were concluded.
Online Editor by — July 1, 2021 in Oil&Gas 0
FG Agrees To Pay  Outstanding Arrears

19 Insurance firms fail PenCom compliance for CPS - Vanguard News
The National Pension Commission has said that the Federal Government has given an order to clear the outstanding pensions of its retirees under the Contributory Pension Scheme.
PenCom said this in a statement in Abuja.
It informed all its stakeholders, particularly retirees of treasury-funded Federal Ministries, Departments and Agencies, that the President, Major General Muhammadu Buhari (retd.) had approved PenCom’s submission on the payment of some critical aspects of the outstanding pension liabilities of the Federal Government under the Contributory Pension Scheme.
The statement said:“Specifically, the President has approved payment of outstanding accrued pension rights for verified and enrolled retirees of treasury-funded MDAs that retired but are yet to be paid their retirement benefits, as well as the back log of death benefits claims due to beneficiaries of deceased employees of treasury funded MDAs.
“Payment of 2.5 per cent differential in the rate of employer pension contribution for FGN retirees and employees which resulted from the increase in the minimum pension contribution for employers from 7.5 per cent to 10 per cent in line with Section 4(1) of the PRA 2014.Payments for retirees and existing employees would take effect from July 2014.”
It noted that subsequently, the Federal Government was expected to continue with the payment of the 10 per cent rate of employer pension contribution for its employees, ensuring a remittance of at least 18 per cent monthly (employer 10 per cent and employee eight per cent) as provided by the PRA 2014.
 The agency stated that funds had already been made available for the settlement of the above stated pension liabilities.
Online Editor by — July 1, 2021 in PENCOM 0
Energy Transition Enabler For Oil Divestments In Nigeria, Says Report

A new report  by Africa Oil Week and Wood Mackenzie has said the global transition to cleaner energy will drive sales of oil and gas assets in Nigeria and other sub-Saharan African countries.
It also said the energy transition will push more assets onto the market, but sellers may be stuck with unwanted assets.
The report titled ‘Sub-Saharan Africa M&A: What could be sold?’,noted that COVID-19 pandemic and the oil price crash led to a significant slowdown in merger and acquisition deals in the sub-region last year.
It added:“Deal spend was only $ 1.1bn compared with $ 5.7bn in 2019 and $1.7bn in 2018,” it said, adding that pre-production assets accounted for 80 per cent of volumes traded.Portfolio resilience is key: the majors’ combined value falls 145 per cent under a $30 per barrel long-term oil price – Leaner portfolios needed to withstand future downturns”
It  airs its view on de-carbonisation, saying  by 2030, average SSA emissions intensity would be 38 tCO2e/kboe versus a global average of 28 tCO2e/kboe.
It said: “Investment will focus on key strategic or advantaged assets, leaving mature or non-core assets prime candidates for divestment.But there are multiple barriers to M&A in the region. As oil prices recover in the short term, bid-ask spreads may widen as sellers try to extract maximum value.”
It said above-ground risks, oil price risks and access to finance on reasonable terms would continue to shrink the pool of buyers.
According to the report, private equity-backed exploration and production companies, African-focused E&Ps as well as Asian and African national oil companies are likely acquirers.
The report added:“The energy transition: ambitious emissions reduction targets will drive divestments. Shell has the highest SSA average emissions of the majors due to its legacy assets in Nigeria.Carbon emission is increasingly key when screening assets for divestment. Low-value, high-emissions assets will be prioritised for sale.”
Online Editor by — July 1, 2021 in Oil&Gas 0
DisCos  Greatest Enemies  Of Manufacturers -MAN

Role Of Manufacturers Association Of Nigeria (MAN) - newscorner
The Manufacturers Association of Nigeria (MAN), has carpeted electricity distribution companies in Nigeria for not doing to boost power supply to its customers.
Its  Director-General,Segun Kadiri, dthis on the heels of  proposed abrogation of Eligibility Consumer Scheme regulation by the Electricity Distribution Companies (DisCos) in Nigeria.
He described the proposal as scandalous, counterproductive and an action that makes the government look insincere in its ease of doing business.
He said:“This move is going to be counter-productive especially when you have industries that have invested far more than what these DISCOs have contributed to the economy.The total numbers of people working in DISCOs all-put-together are not up to the total numbers of the people working in KAMWIRE Industries.
“DISCOs are only out to make cheap monies for the Nigerian populace especially from manufacturers. You will agree with me that all our members that are able to access this scheme are doing very well in their investment process and are able to provide more employment to the masses.
“The process is therefore unreasonable and unacceptable and surprisingly, they are seeking the support of other government agencies. It is going to result in downsizing of industries, high cost of inputs and increase in cost of goods in the society especially at this critical moment when disposable income of an average Nigerian is dwindling.”
He also said  that the power distribution companies have always been frustrating manufacturers,adding that the development explains why not more than five of our members are benefiting from the scheme currently.
He said:”I shall be grossly disappointed if this later comes true, God forbid that the information is true. It will also affect our long waiting plans for the AfCTA which will put us at a very disadvantaged angle if the cost of power supply is high, that means everything will be difficult. We can’t go into competition with other African Countries under AfCTA with a high cost profile.
“How sensible is it that you allow a group of people, whose investments all together are not up to the investment of a single company in the manufacturing sector, to decide how the manufacturers do their businesses?
Online Editor by — July 1, 2021 in Power 0