All Posts in "Day: November 21, 2023"

NERC Enforces Accident Penalties

 Mohammed Shosanya
The Nigerian Electricity Regulatory Commission (NERC) has declared a zero-tolerance policy for accidents within the Nigeria Electricity Supply Industry (NESI) operational network.
Dafe Akpeneye, NERC Commissioner, Legal, Licencing & Compliance,who disclosed this  during the second peer review meeting with Nigerian Electricity Supply Industry (NESI) Licensees’ enforcement and compliance officers, expressed the  agency’s dedication to ensuring safety and preventing accidents within the electricity sector, Akpeneye stated that every life is valuable.
He said,numerous electricity-related accidents and safety hazards that have been recorded in recent times, are avoidable.
He enjoined market operators must report accidents related to vandalism to NERC.
He added: “As a Commission, we have taken a zero-tolerance approach, we want accidents to stop because every life matters to us.”
“Sometimes, compensation for accident victims’ costs more than what it will cost to rectify the problem.
He implored  the licensees to overhaul their institutional culture towards safety and avoidance of accidents, which he said is fundamental to the safety of workers and people around network areas.
He said:“There can’t be attitudinal change without effort, we need an overhaul of our institutional culture because no matter what frameworks or strategies we put in place, if the culture does not change, nothing will change.”
admin by — November 21, 2023 in Power 0
Mohbad’s Father Delaying His Burial,Mother Cries Out

The mother of the late Nigerian singer, Mohbad, has revealed that Mohbad’s father is the one delaying their son’s burial.
In a viral video, the singer’s mother mentioned that after the police conducted an autopsy on Mohbad’s body, they released it for burial. However, the father insisted that the body should remain in police custody.
She expressed her plea, attempting to persuade him to allow their son to be laid to rest, but he remained adamant about not burying their child.
admin by — November 21, 2023 in News 0
National Contradictions Tinubu Must Resolve In 2024

By Michael Owhoko, Ph.D

Any Nigerian with rational and open mind knows that complexity of governance in Nigeria today is rooted in the country’s political system, which by any stretch of imagination and logic, is unsuitable for a heterogenous society like Nigeria with over 250 ethnic groups that are characterized by incompatible cultures, varied history, background and interests.

These ethnic groups were hitherto independent nations that ceded their sovereignty to the Nigerian state under Federalism, a political system that took cognizance of their peculiarities and agreed upon by the country’s founding fathers.  But ever since this system was subverted and replaced with a Unitary state structure, Nigeria has been embroiled with unending suspicion, distrust, disunity, disharmony, nepotism, hegemony and rivalry among the various ethnic nationalities, indicative of its inappropriateness.

Unsuitability of the Unitary state structure, inequitable revenue sharing method, breach of country’s secularity status, dishonest quota system and political location of industries are major national contradictions undermining Nigeria’s potentials.

Except to hide under cover of pretense, it is a common knowledge that Nigeria’s progress is held down by these national paradoxes. They are aberrations and drawbacks that are fundamentally responsible for the country’s stunted growth.  These are what President Bola Tinubu must address in 2024 to set the tone for equitable and prosperous Nigeria.

Efforts outside this trajectory amounts to sheer cosmetic administrative routine and waste of valuable resources incapable of restoring hope.  The Unitary system of government has become a Frankenstein monster that is pushing the country towards the precipice with diminished national and global stature.

  Until a more suitable political template is introduced, Nigeria will continue to drift in circles like a regional giant with no illuminating potentials to inspire public confidence.

Federalism had been tested in Nigeria, and it worked.  It is a system of government where all federating states and central government are financially independent, autonomous, interdependent and co-equal with neither the federal government nor the states inferior to each other.  This is the political system that best suits the country’s cultural diversity and sociological complexities, capable of achieving equity, justice and balance.

In a plural society like Nigeria, Unitary system is a misfit, lacking the capacity to promote unity.  It engenders acrimony, disaffection, nepotism, primordial nationalism and marginalization, owing to conflicting cultural aspirations.  Emergence of separatist movements and other related self-determination groups are some of the challenges facing Nigeria today, justifying the need for Federalism to stem the tide.  Otherwise, the country risks more ethnic nationalities surfacing to seek autonomy.

With about 68 items on the Exclusive list and 12 items on the Concurrent list, the 1999 Constitution is in structure, content and spirit, a Unitary constitution, where the destiny of the states and people are determined and centrally regulated, using revenue allocation as tool for coercion and subservient corporatism.  This Constitution has failed Nigerians.  The states or geo-political zones want independent hold of their future within the context of their distinct cultural aspirations.

As a way out, the concept of the 1963 Constitution should be invoked to allow states to take control of mineral deposits found in their domains.  In other words, fiscal federalism with derivation principle allowing retention of 50 percent minimum of accrued revenue found in or generated by the states, should be introduced.

All states and geo-political areas in Nigeria are evidently endowed as God has provided every habitat with natural resources, including agricultural crops for subsistence.  This will not only give states the necessary financial autonomy, but will encourage them to harness and optimize their potentials, just as it will encourage hard-work, healthy competition, and discourage indolence.

Government’s involvement in religion is also a national contradiction and aberration.  Nigeria is a secular state as affirmed by Section 10 of 1999 Constitution, which says that the Government of the federation or of a state shall not adopt any religion as state religion in Nigeria.  But federal government’s behavioral disposition undermines this clause when viewed against the backdrop of its contribution and participation in religious matters.

By establishing the National Hajj Commission of Nigeria (NAHCON) and the Nigeria Christian Pilgrim Commission (NCPC) to oversee and facilitate the process for participation of Muslims in Hajj or Umra in Saudi Arabia and pilgrimage of Christians to Jerusalem and other holy sites, the federal government has adopted Islam and Christianity as official religions, contrary to the intention of secularism.

Deception of Nigeria’s secularity status is further exposed by Nigeria’s membership of the Organisation of Islamic Cooperation (OIC), a religious body representing “the collective voice of the Muslim world”, and working “to safeguard the interests and ensure the progress and well-being of Muslims.”  Nigeria’s membership is a tacit endorsement of the country as an Islamic state, as depicted by its commitment to dues obligation.

Religion is a personal affair, and individuals are at liberty to practice their faith as deemed appropriate, as long as it does not violate the right of others.  The huge amount expended by federal government annually to fund NAHCON and NCPC, as well as meeting financial obligations in OIC, is an infringement on the right of Nigerians whose taxes are used to service these private interests.

After all, government’s involvement in religion has not reduced moral decadence in Nigeria, as most beneficiaries of these pilgrimages to Hajj and Jerusalem are involved in corruption that have contributed to the country’s woes.  Rather than waste the country’s resources on these unprofitable ventures, such money should be used to shore up decaying infrastructure across the country.

President Tinubu should therefore dissolve NAHCON and NCPC, and remove Nigeria from membership of OIC, as part of strategies to maintain the secularity of Nigeria.  Any state government whosoever desires to fund its citizens to holy sites is free to do so at its own expense.  The federal government must hands-off religion to save tax payers’ money.

Quota system is another national contradiction.  It is part of Nigeria’s problems, and a source of bureaucratic ineptitude that should be discarded for excellence.  This system has been consistently abused and manipulated by government officials to serve primordial and entrenched interests.  The system has also deprived millions of brilliant Nigerians of opportunities to serve their fatherland on account of their states of origin.

When merit is sacrificed on the altar of representation, what you have is incompetence and failure.  Nigeria is currently paying price of poor performance in government owing to quota application in recruitment process in ministries, departments and agencies (MDAs).  The outcome has been inefficiency and poor delivery output with no value addition.

Sadly, the quota system is applicable to the educational sector that is supposed to be the substratum of research and development.  Unqualified students are admitted into federal unity schools and universities while brilliant ones are unable to secure placements.  In some cases, appointment of professors and award of PhD degrees are based on quota system, leading to production of quota scholars lacking capacity for research and discovery.  What an irony for a country that is striving to compete in global affairs!

Quota system is a recipe for failure and poor performance.  It is not applicable in the private sector because of these gaps.  This may have also informed why the powers that be have deliberately refused to introduce the system in the selection of players for the national team, the Super Eagles.  They know that if the obnoxious quota is applied, the performance of the Super Eagles will be outright tragedy for the country.

Another national contradiction is political location of industries.  Oil and gas companies involved in exploration of crude oil in the Niger Delta should be compelled to relocate their administrative headquarters to areas where they have a minimum of 70 percent of their operations.  This will not only accelerate development of the region, but will help in resolving current poverty and frustration, resulting from negligence and degradation in the region.

  The Nigeria LNG Limited which moved its administrative headquarters from Lagos to Bonny Island, Rivers State, where its operational base is located, is enjoying support from its host communities.  The company should be commended and emulated.

Therefore, to reset, reshape and reposition Nigeria for stronger brand identity aimed at maximizing its full potentials to achieve national progress, regional influence and global respect, President Bola Tinubu must address and nip these national contradictions in the bud by next year, 2024.

Dr. Mike Owhoko, Lagos-based journalist and author, can be reached at www.mikeowhoko.com

admin by — November 21, 2023 in Opinion 0
NITDA,CBN To Drive Regulation On Digital Payment

   Mohammed Shosanya
The Director-General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa Abdullahi, has restated the need for the Central Bank of Nigeria (CBN) and Financial Institutions in the country to partner with the agency in order to leverage emerging technologies such as Artificial intelligence (AI) and Data Analytics to deepen digital payments.
He spoke during a panel discussion segment at the Central Bank of Nigeria’s 2023 Payments System Management Departmental Retreat programme.
 The Director General,who was represented at the event by the National Director, National Centre for Artificial intelligence and Robotics (NCAIR), Engr Ya’u Garba, alluded to the fact that financial technology (FinTech) has so far shown immense ability in driving Nigeria’s performance in the industry and Environmental, Social, and Governance (ESG), especially with the application of developmental regulation approach and enabling policies co-created by the tech ecosystem.
He said,deepening collaborations with key stakeholders will fast track the realisation of the goal, adding that upping the game in digital payments will not only continue to put Nigeria at the forefront as Fintech driven economy but will also enhance consumers’ user experience and help move many people out of poverty.
 Responding to questions regarding Nigeria’s efforts toward dealing with the opportunities and threats posed by Artificial intelligence, Inuwa explained that the Federal Government had noticed that the trajectory of AI models which have moved from linearly to geometrical in proportions had in the previous administration, started working on Artificial intelligence Policy through the Agency which he said would be soon unveiled to the public.
“This AI Policy will form the basis on which all the rules will be highlighted and Agencies like  NITDA, which is the implementation arm will be talking about the strategies, framework and guidelines to navigate through its adoption and deployment.
“Although artificial intelligence is often regarded as a double edged sword, the potential and benefits are tangible but not without a lot of threats, and that is apart from the biases that abound, notwithstanding, our regulatory approach has always been not to stifle innovation.”, Inuwa noted.
Inuwa,who also mentioned other policies of the Federal Government for the industry, maintained that the policies are start-up ecosystem- friendly.
While avowing that there is the need for measures to be deliberately taken to reap the benefits and forestall the impending threats of AI, Inuwa emphasised that NITDA will be working collaboratively with CBN as with others,  in regulating the AI space, stressing that if CBN adopts a particular technology, the potential of such technology to move quickly is high.
The NITDA boss told the audience that the Start-up Bill which was passed by the National Assembly and assented to by former President Muhammadu Buhari in October 2022 will address almost, if not all the bottlenecks plaguing the tech ecosystem.
The Fintech industry, according to Inuwa, is blazing the trail, but said there are a lot more to be tapped from, if AI is explored and exploited accordingly.
He stressed that government needs to work with the United Nations, World Bank and others to see how they can help build the infrastructure for FinTech, in order to foster digital payments and possibly close the digital gap.
“The Startup Act is deemed to be a positive step forward for the country’s startup ecosystem, and it is expected to have a significant impact on businesses in the technology and innovation space”.
“We have other policies tailored towards the bigger picture, like the 3MTT programme by the Federal Ministry of Communications, Innovation & Digital Economy which is expected to generate a pipeline of technical talent in line with President Bola Ahmed Tinubu’s vision of creating two million digital jobs by 2025, National Broadband Plan, Digital Identity Policy and the National Financial Policy which drive the financial inclusion in the country,” Inuwa affirmed.
Welcoming guests, the Director, Payments System Management Department, CBN, Musa Jimoh, harped on the need to look into the future and embrace things that are contemporary to Nigeria and the world at large and ensure that all the thinking behind Payments system should be hinged on how it can benefit the common man on the street.
“Everything we do in Central Bank of Nigeria, if it cannot benefit the common man on the street, then we have done nothing because the payments system is not for us but for the public good, especially as everybody uses it.
“As such, our thinking should always be what can we do to ease the pain, reduce cost, serve and make things more efficient and available to the common man on the street and indeed to all Nigerians, whether in the country or in the Diaspora”, Musa said.
admin by — November 21, 2023 in Business 0
How Oyo Farmers Will Access N1bn Loan-Akeugbagold

 

Mohammed Shosanya

 

 

The Chairman, Oyo State Agricultural Credit Corporation of Oyo State, (ACCOS), Sheik Taofik Akeugbagold, has listed the criteria being used to disburse the One Billion Naira loan to farmers to ensure geographical spread.

 

Akeugbagold disclosed this during a sensitization tour to the 7 geopolitical zones in the State which ended on Tuesday.

 

He also said to access the N1b single digit interest loan under the Sustainable Action for Economic Recovery (SAfER) sub-committee, an applicant must be a duly recognized farmer.

 

Speaking further on the criteria for the disbursement at Oke Ogun Zone 1, Iseyin area, Sheik Akeugbagold, revealed that the reason for the tour was to interact and identify genuine farmers in the state.

 

He hinted that the corporation will guard against giving loans to ‘farmers on paper’, saying this would ensure that the targeted farmers benefit from the gesture.

 

He explained that after the sensitization exercise, Application forms could be gotten at each Local Government Council at the office of the Director of Agriculture.

 

He added that the ACCOS Field Officers and the identified Banks in each domain will be involved in the process.

 

On the conditions for qualification, the Chairman said the form can only be collected individually free of charge.

 

He emphasized that the social media or internet is not a sales point, adding that no official of the Board or the Ministry of Agriculture will liaise with residents from the internet.

 

Akeugbagold said an applicant will need a Civil Servant, from Grade level 07 and above as guarantor, depending on the amount of loan requested.

 

He added: “We are moving round the 7 zones of the State to sensitize farmers on the need and where to access the #1b loan under the SAfER Sub-committee  of food security.

 

“The Forms would be out after the sensitization tour and they will be available for collection free of charge through the Directors of agric in their various councils, the severed banks and ACCOS adding that the form is not online.

 

“However, please note that group lending would not be entertained” the Board Chairman added.

 

In his remarks, the General Manager of the Board, Comrade Emmanuel Ogundiran revealed that farmers owing the Board, the State Government or any of the participating financial institutions would not have access, except if they are cleared by the Board or the participating institutions.

 

He hinted that the exercise would not be politicized in any form, saying that the Government through the Ministry of Agriculture and Rural Development has equally trained farmers on climate resilience.

 

He added that the government has put plans in place to enhance peaceful co-existence between herders and farmers, through continuous meetings with the affected parties.

 

 

———- Forwarded message ———
From: Ministry of Information <oyominofinformation@gmail.com>
Date: Tue, Nov 21, 2023, 4:04 PM
Subject: Oyo Govt. Lists Criteria For Disbursing N1Bn Loan To Farmers
To: <oyoministryofinformation@gmail.com>

Good afternoon dear colleagues. The Oyo State government has listed criteria for accessing the 1Bn naira loan to farmers. Pls, find the statement below. Thank you.

Press Release

 

Oyo Govt. Lists Criteria For Disbursing N1Bn Loan To Farmers

The Chairman, Oyo State Agricultural Credit Corporation of Oyo State, (ACCOS), Sheik Taofik Akeugbagold, has listed the criteria being used to disburse the One Billion Naira loan to farmers to ensure geographical spread.

Akeugbagold made the revelation during a sensitization tour to the 7 geopolitical zones in the State which ended today.

The muslim cleric also said to access the N1b single digit interest loan under the Sustainable Action for Economic Recovery (SAfER) sub-committee, an applicant must be a duly recognized farmer.

Speaking further on the criteria for the disbursement at Oke Ogun Zone 1, Iseyin area, Sheik Akeugbagold, revealed that the reason for the tour was to interact and identify genuine farmers in the state.

He hinted that the corporation will guard against giving loans to ‘farmers on paper’, saying this would ensure that the targeted farmers benefit from the gesture.

The Chairman explained that after the sensitization exercise, Application forms could be gotten at each Local Government Council at the office of the Director of Agriculture.

He added that the ACCOS Field Officers and the identified Banks in each domain will be involved in the process.

Speaking on the conditions for qualification, the Chairman said the form can only be collected individually free of charge.

He stressed that the social media or internet is not a sales point, adding that no official of the Board or the Ministry of Agriculture will liaise with residents from the internet.

Akeugbagold said an applicant will need a Civil Servant, from Grade level 07 and above as guarantor, depending on the amount of loan requested.

According to him, “we are moving round the 7 zones of the State to sensitize farmers on the need and where to access the #1b loan under the SAfER Sub-committe of food security.

“The Forms would be out after the sensitization tour and they will be available for collection free of charge through the Directors of agric in their various councils, the severed banks and ACCOS adding that the form is not online.

“However, please note that group lending would not be entertained” the Board Chairman stressed.

In his remarks, the General Manager of the Board, Comrade Emmanuel Ogundiran revealed that farmers owing the Board, the State Government or any of the participating financial institutions would not have access, except if they are cleared by the Board or the participating institutions.

He hinted that the exercise would not be politicized in any form, saying that the Government through the Ministry of Agriculture and Rural Development has equally trained farmers on climate resilience.

He added that the government has put plans in place to enhance peaceful co-existence between herders and farmers, through continuous meetings with the affected parties.

In his address at Ibarapa Zone, the Commissioner 3, Civil Service Commission, Chief Ogunjinmi commended Governor Makinde for being a visionary leader whose efforts in the agricultural sector would forever be appreciated, urging the farmers to make judicious use of the loan when granted.

admin by — November 21, 2023 in Agriculture 0
Sahara Group Unveils 2060 Net Zero Plan To Boost Sustainability

Mohammed Shosanya



Energy and infrastructure conglomerate, Sahara Group has stated its commitment to transform into a net zero business entity by 2060 as it continues to align operations to facilitate greener and cleaner energy solutions.

Ejiro Gray, Director, Governance and Sustainability, Sahara Group, disclosed this during the presentation of Sahara Group’s 2022 sustainability report, titled, “Energising Innovative Solutions for Sustainable Development.”

“We have initiated the development of our Energy Transition Plan, which outlines a comprehensive framework of short- to long-term energy transition actions, accompanied by our resolute commitment to reducing our operational carbon footprint,” Gray said, adding that it was Sahara Group’s aspiration to transition into a net zero business entity before or by the year 2060.

“To this end, we aim to launch projects that will provide evidence-based insights regarding how to mitigate, reduce and eliminate our operating emissions, setting ambitious yet achievable targets for operational efficiency. As a global energy firm that plays a distinctive role in powering economic growth, we recognise the inherent responsibility we bear in contributing to the realisation of an equitable energy transition strategy,” she said.

Gray said the plan would cover Sahara Group’s operations in upstream, midstream, downstream, power and infrastructure sectors in over 42 countries across Africa, Asia, Europe, and the Middle East.

“As a foremost energy conglomerate invested in bringing energy to life responsibly, we consider our net zero plan as integral to the sustainability of our business and more importantly, our contribution to global efforts geared towards building a healthier, cleaner and more productive planet Earth for future generations,” she said.

 

Gray said Sahara Group conducted a thorough GHG (Greenhouse Gas) emissions audit across its businesses for the 2019-2021 period, establishing baseline data for scope 1 and 2 emissions. “This enables us to effectively analyze, track, and control our environmental impact in a transparent and consistent manner. The collected data will inform our efforts to mitigate environmental risks and align with our Energy Transition Plan,” she explained.


Sahara Group’s 2022 sustainability report provides critical information regarding the environmental, social, and corporate governance impacts resulting from its business operations spanning January 1 to December 31, 2022.


The scope of the report encompasses the following businesses within the Sahara Group: Upstream Operations (Asharami Energy), Midstream Operations (Sahara Trade), Downstream Operations (Asharami Synergy), Power (Generation and Distribution) – Egbin Power, First Independent Power Limited (FIPL) and Ikeja Electric (IE). It also includes a report on the Group’s Social Impact vehicle, the Sahara Group Foundation.


“As a prominent business within our industry, we surmounted numerous challenges in 2022, achieving noteworthy performance across the economic, social, environmental, and governance indicators. We would like to express our sincerest appreciation to all those who have placed their trust in our commitment to conducting business in a sustainable and responsible manner,” Gray stated.

 

An integrated approach was adopted in the report, leading to consolidated disclosures across the Group, while performance was documented across four fundamental sustainability pillars: Principles of Governance, Planet, People, and Prosperity. These pillars serve as a framework in adherence to the Global Reporting Initiative (GRI) Standards, which facilitate robust measurement and reporting practices.

admin by — November 21, 2023 in Oil&Gas 0
Rejoinder: Powerful Lagos,Powerless Osun-Adedayo Oshodi, Principal Partner, Robert Clarke, SAN & Ade Oshodi Partners

The article by one Lasisi Olagunju on the recent nomination of 21 justices for appointment to the Supreme Court should disturb any objective and well-meaning Nigerian. It is calculated at escalating our fault lines. It is targeted at dividing the Nigerian judiciary along State lines. It is calculated to incite Nigerians against Lagosians. It’s a hate piece. We appear not to be fed up with the damage wrecked to our nation by our perennial ethnic and religious divisions.

As a corollary, we appear committed to a race to the bottom, when appointments to our apex court are reduced to the clout of the respective states of origin of the justices of the Court of Appeal without any consideration for merit and/or seniority at the bench.

 

Truth be told, this has nothing to do with the pedigree of the two erudite and respected Honourable justices of the Court of Appeal: Hon. Justice Habeeb Adewale Abiru and Justice Olubunmi Oyewole. Both of them are worthy and deserving of a seat at the Supreme Court. Just ask about them.

Thus, it is bad enough that the judicial establishment appears to be heading towards one of them instead of both. We need and deserve both of them, in my opinion. On merit. It is even worse and unfair to both of them to reduce their hard work & careers to their states of origin with the despicable consequence of tainting the elevation of any of them by ascribing the same to their origin as against their hard work and brilliance. It is a disservice to the erudite justices.

 

First, the author politically weaponized the appointments of nominees to the Supreme Court by referring to them as the “electors of our future presidents, governors and lawmakers.” Haba!! We all know how and where presidents, governors and lawmakers are elected. It is mischievous to interchange adjudication of electoral disputes to election. It is fraudulent.

 

Secondly, the writer totally disregarded seniority at the bar and bench, which is a fundamental consideration in the legal profession. Neither did he pay any attention or give consideration to when the two justices were appointed to the bench or the quality of their judgements.

 

A simple Google search would have assisted Mr. Lasisi Olagunju in writing a balanced article that states the criteria set out by law as well as state the facts that supports or goes against any of the justice’s nomination. The fact remains that Justice Abiru was Justice Oyewole’s senior at the then-University of Ife (now Obafemi Awolowo University).

He was also his senior at the bar. Most importantly, Hon. Justice Abiru was appointed to the Court of Appeal in 2012, whilst Hon. Justice Oyewole was appointed in 2014. Would it be fair for Justice Abiru to be skipped over because he is from Lagos State? Or for his junior in the heir-achy to become his senior?

 

Yes, the extant law requires fulfilment of the federal character principle so appointments into national institutions are not lopsided towards a particular region. The balancing is based on the 6 geo-political zones(NW, NE, NC, SW, SE, SS) not based on states as suggested by Mr. Lasisi Olagunju.

 

The facts in the article are wrong. Based on my findings, there used to be pairs and it was Lagos and Ogun, Oyo and Osun and Ekiti and Ondo. But the pairings were jettisoned under Hon. Justice Aloma Mukhtar’s tenure as Chief Justice of Nigeria and it became zones. Things changed further when the Supreme Court was tasked to appoint its full complement of 21 Justices. South West got a fourth slot instead of 3, which was given to Ogunwumiju, JSC.

 

Assuming, without conceding, that we are even going by pairings referred to by Mr Olagunju, the Oyo and Osun slot is occupied by the current Chief Justice of Nigeria, Justice Kayode Ariwoola.

 

The fact is that the slot available was vacated by a Lagosian in the person of Hon. Justice Olabode Rhodes-Vivour, who retired on 22nd March 2021 after he was appointed on 16th September 2010. He replaced another Lagosian, Justice George Adesola Oguntade, who retired on 10th May 2010. Now, Lagos is the commercial nerve Centre of Nigeria, where 90% Nigeria’s VAT is generated. It’s a mini Nigeria that accommodates everyone.

Arguably, Hon. Justice Oyewole is a Lagosian, though not an indigene, as he was not only a resident of Lagos but was appointed as a judge of the Lagos High Court. Essentially, you have two Lagos jurists to a large extent. So, why this division where there is none?

 

Lasisi Olagunji should do right by these two fine jurists by not diminishing their ascendance to the Supreme Court by crediting the same power play against merit and the time-honoured tradition of the Nigerian judiciary of seniority.

admin by — November 21, 2023 in Opinion 0
Nigeria,Germany Sign $500m Renewable Pact,Gas Export Agreement

 

        Mohammed Shosanya
Nigerian and German businesses on Tuesday signed two energy agreements.

Speaking in Berlin, Germany, at the 10th German-Nigerian Business Forum, President Bola Tinubu said that with a resilient democracy, Nigeria is well primed to attract foreign direct investments.

He witnessed the signing of two Memoranda of Understanding (MoU): one on the supply of gas from Nigeria to Germany and another for $500 million worth of renewable energy projects in Nigeria.

The signing of MoUs was between Riverside LNG of Nigeria and Johannes Schuetze Energy Import AG of Germany on the gas export partnership, while the other signed pact brought together Union Bank of Nigeria and DWS Group on cooperation in renewable energy,a statement said.

CEO of GasInvest, Mr. David Ige, who signed the MoU on gas supply, said the Riverside LNG project aims to supply energy from Nigeria to Germany, extinguishing about 50 million cubic feet per day of flared gas in Nigeria.

”The project will supply energy from Nigeria to Germany at 850,000 tonnes per annum, expanding to 1.2 million tonnes per annum.

”The first gas will leave Nigeria for Germany in 2026, and there will be further expansion. This will extinguish about 50 million cubic feet per day of flared gas in Nigeria and open alleyways of new and greater exports of gas to Germany,’’ he said.

The German partners expressed confidence in investing in Nigeria’s gas sector.

Chief Operating Officer of Johannes Schuetze Energy Import AG, Mr. Frank Otto described the partnership as a “big deal” for the German market.

Chairman of Union Bank, Mr. Farouk Gumel disclosed the commitment of $500 million for e-energy projects in Nigeria, emphasizing the importance of rural inclusion and bringing more people into the formal economy.

”We believe this would bring rural inclusion and capture more people into the formal economy. Without inclusion, there is no growth. Thank you, Mr. President,” Mr. Gumel said.

Welcoming the new deals, President Bola Tinubu assured German businesses that with Nigeria’s stable political landscape, foreign investments into the country are secure.

”Since 1999, we have witnessed changes in democratic governance, with peaceful transfers of power within and between parties. Democracy in Nigeria has proven to be flexible and resilient. Shake off any remnants of the military era syndrome; we have moved beyond that. Despite challenges faced by other African nations, Nigeria stands firm, and we are your partners,” the President declared.

Outlining some of the achievements of his administration, which include his globally-acclaimed economic reforms, the President emphasized his commitment to sustaining the reforms and building stronger Nigerian-German relations.

”For those who feared various obstacles; look at me—I come from the private sector, trained by Deloitte. I served as the treasurer in Exxon Mobil. Define corporate governance in any way, and I am in it. I governed Lagos for eight consecutive years. Today, I can proudly beat my chest that Lagos state is on the horizon and the fifth-largest economy in Africa, rising from ground zero. This is the track record that led me to the presidency.

”Nigerians voted for me for reforms, and from day one of my inauguration, I implemented the reforms. My inaugural speech did not disclose what I would do. I removed the fuel subsidy that is a great burden to Nigerians from the moment I stepped into office.

”The arbitrage regime is gone forever. Now, you can bring your money in and out as you wish. If you encounter any problems, rest assured that I have built one of the most reliable teams Nigeria has seen to address them. I appeal to you to forget the past and focus on building a relationship that removes obstacles, fostering progress and prosperity in Nigerian-German relations.

”You can rely on us; we can rely on you; both of us can chorus Hallelujah at the same time,” the President added.

admin by — November 21, 2023 in Oil&Gas 0