EFCC’s officials are not exempt from the shenanigans of the worst rogue politicians in APC progreThieves club.
chisomkachy: The Economic and Financial Crimes Commission (EFCC) has withdrawn the alleged money laundering suit it filed at the Federal High Court against Lagos Speaker Mudashiru Ajayi Obasa.
Naija News understands that the anti-graft did not give any particular reason for its application for withdrawal.
Following the application to withdraw, Justice Nicholas Oweibo discharged the ‘lien/Post No Debit’ placed on Obasa’s three accounts in Standard Chartered Bank.
The accounts are (US Dollars) 0001852063; (Current) 0001852056 and (Saving) 5002309624.
The judge also set aside the ex-parte orders he made on September 15, 2020, which led to the freezing of the accounts.
Recall that the court on September 15, 2020, granted an interim order freezing Obasa’s accounts following the EFCC’s application in a suit marked FHC/LCS/1064/2020.
The agency had said it was investigating the Speaker for the alleged offences of conspiracy, diversion of funds, abuse of office and money laundering.
But Justice Oweibo, on August 16, 2023, heard the application to unfreeze the accounts in his chamber.
During the hearing, the EFCC was represented by Mr. Sulaiman I. Sulaiman, while Obasa was represented by Mr. Adeyinka Olumide-Fusika (SAN).
The EFCC lawyer told the court that the application to unfreeze the accounts was pursuant to Section 44(2)(K) of the 1999 Constitution (as amended) and Sections 26, 29 and 34 (1) of the EFCC (Establishment) Act, 2004, and under the court’s inherent jurisdiction.
Section 44 of the Constitution concerns constitutional rights to property.
Justice Oweibo held: “It is hereby ordered that an order is hereby granted to the respondent/applicant setting aside the ex-parte orders of this court made on the 15th day of September 2020 upon the ex-parte motion of the Applicant/ Respondent in relation the funds of the Respondent/Applicant domiciled in the accounts stated in the following schedule:
“ACCOUNT NAME, FINANCIAL ACCOUNT INSTITUTIONS, TYPE OF ACCOUNT, 1. Mudasiru Ajayi Obasa, Standard Chartered, (US Dollars) 0001852063 2. Mudasiru Ajayi Obasa, Standard Chartered (Current) 0001852056 3. Mudashiru Ajayi Obasa, Standard Chartered (Saving) 5002309624.
“Issued at Lagos, under the seal of this Honourable Court and by the hands of the Presiding Judge this 16th day of August 2023.”
Zionmdde: Where did he see the 10-15%. The ones wike gave houses to?
Me sef dey wonder o. Wike has been a brazen instrument of corruption for our judiciary. He has been a very useful tool for Oshiomhole’s Assembly of Past Criminals, APC.
iwaeda: Wike Boasts Of Helping APC Use Judiciary To Kill Osun LG Funds Case, Warns Party Leaders Against Ingratitude
Minister of the Federal Capital Territory (FCT), Nyesom Wike, has openly boasted that he assisted certain elements within the ruling All Progressives Congress (APC) in deploying the judiciary to frustrate the Osun State local government allocation lawsuit.
In a video now circulating widely on social media and obtained by SaharaReporters, Wike made the claim while addressing a crowd in Port Harcourt, Rivers State.
The former Rivers governor accused the APC National Secretary, Senator Ajibola Basiru, of benefitting from judicial actions against the Osun State Government without knowing those who did the work behind the scenes.
The suit in question led to the withholding of local government funds in Osun State, a development widely seen as targeting the administration of Governor Ademola Adeleke as opposition in the state.
Wike, who spoke angrily, suggested that the court action supporting the APC’s position against the Osun government did not happen by chance, boasting that powerful political forces worked quietly to ensure the outcome.
“Don’t take our support for Mr President for granted,” Wike warned, in an apparent message to APC leaders defending Rivers State Governor Siminalayi Fubara. “You have to be careful about the statements you make. You have to be very careful.”
He accused Basiru of political ingratitude, claiming the APC was enjoying in Osun State without understanding who engineered their advantage.
“Today, you are enjoying in Osun. You don’t know those who did the work,” Wike said. “You are opening your mouth to talk about Rivers State.”
Onegai: It is horrific to be alone with a very sick child and be imagining the father of that child having the time of his life somewhere else. You send money, well that takes precisely 5 mins versus days and weeks of sleepless nights with a sick baby. Yes, you worked hard to make the money, but wouldn't you have worked hard to make that money if you were not a father?
So sending money ain't it.
If you were not a father you would chop your hard earned money alone, without sending any of it to a single mother to care for your child.
Kalulu44: All these questions are irrelevant, does he has money yes. Enough and plenty of it, yes. Your president, what was his known source of income before he became the richest landlord in West Africa even before he became president
I can see why you find juju to be relevant so we can continue to be dregs of the human race.
Kalulu44: The truth is, I am not in support of Juju, but it works for those who believe in it. Though when your time is up, there's nothing your juju can do
If juju works then why did oyinbos colonise us and why do they continue to dominate us?
Reference: Just watch 'Gangs of New York' if you don't understand. Guaranteed that you will. Just hope this country will emerge from the darkness one day.
Did Americans just hope for their country to emerge from the darkness of Gangs?
Or they worked hard for God to bless for their desires to manifest?
EkoIle1: It is now abundantly clear that President Jonathan has finally bared his fangs confirming what was widely speculated. By declaring a state of emergency in Borno, Yobe and Adamawa, he has intimidated and emasculated the governors of these States. We are witnessing a dangerous trend in the art of governance and a deliberate ploy to subvert constitutional democracy.
The body language of the Jonathan administration leads any keen watcher of events with unmistakable conclusion of the existence of a surreptitious but barely disguised intention to muzzle the elected governments of these states for what is clearly a display of unpardonable mediocrity and diabolic partisanship geared towards 2015.
Borno and Yobe states have been literally under armies of occupation with the attendant excruciating hardship experienced daily by the indigenes and residents of these areas. This government now wants to use the excuse of the security challenges faced by the Governors to remove them from the states considered hostile to the 2015 PDP/Jonathan project.
Let me be quick to say that this administration will be setting in motion a chain of events the end of which nobody can predict. Experience has shown clearly that actions, such as this one under consideration, often give root to radical ideologies and extremist tendencies, a direct opposite of the intended outcome of unwarranted and unintelligent meddlesomeness. The present scenario playing out in the country reminds one of the classical case of a mediocre craftsman who continually blames the tools of his trade for his serial failure but refuses to look at his pitiable state with a view to adjusting.
It has become crystal clear, even to the most incurable optimist, that the country is adrift. That the ship of the Nigerian state is rudderless is clearly evident in the consistent and continual attacks ferociously executed by elements often referred to as the insurgents in some northern states of the federation, particularly Borno and Yobe states respectively.
Indeed, no part of the country is immune from the virulent but easy attacks, veritable indices of a failing state. Unfortunately, the tenuous and uncoordinated approach adopted by this government betrays a grossly incompetent disposition which stands at variance with current realities in the country, nay the international community where acts of terrorism are engaged and contained. No Governor of a state in Nigeria is the Chief Security Officer. Putting the blame on the Governors, who have been effectively emasculated, for the abysmal performance of the government at the centre which controls all these security agencies, smacks of ignorance and mischief.
Ttalk: All the 5 states should be collapsed to form one
What of the 5 states in the southwest outside former federal capital Lagos that has a business environment with federal infrastructure since before 1914 amalgamation?
Why are you not asking that they be collapsed to form one state
brain54: ::: South Africans know all these but don't just care. That's why I always advocate a stronger response rather than diplomatic and continuous empty talk. By the way why is shettima expressing solidarity with Ghana when his citizens/country men are equally going through the same thing and being attacked? he should say his own and stop aligning/attaching with Ghana. Why is he waiting for small - and I say that respectfully- Ghana to take the lead before attaching with them? It’s just showing they ( nigerian leaders) lack direction and don't even know how to handle the whole issue with s/a but rather are taking the cue from Ghana. Ghana has been at the forefront of all these setting the pace and direction while Nigeria has been behind following with no policy approach. Shame on Nigeria who has been doing nothing but giving empty speeches when it should be at the fore as so called giant of Africa. :::
We were giant of Africa until 2015 when Tinubu begged Buhari to come out of retirement and make Jonathan a one term president, thereby destroying 16 years of prosperity, peace and security with cheap petrol, cheap dollars, low debt burden, high productivity, low unemployment etc.
Were we not the biggest economy in Africa then? Have APC’s cluelessness and akara mindset not dragged us down to 4th place?
When you are the world champion in extreme poverty and out of school children, you hide behind better countries like Ghana to talk small.
All this labour in vain to gain how much by this inconsequential politician who has never won any election in his miserable life?
Why are you responding with your own alternate monikers all created on June 10
Nomsu247: Dr. Gbenga Hashim continues to inspire confidence through principled leadership. May wisdom, unity, and progress continue to guide the Accord family.
FUNMI101: The GHSM makes a solid point here regarding the PDP comparison. We've seen how internal factions destroyed PDP’s momentum, and Accord cannot afford to make those same mistakes so close to the 2027 general elections. With the matter already in the Federal High Court, it’s best for all factions to halt the media wars, respect the judicial outcome, and focus on rebuilding party cohesion before it harms Adeleke's own re-election prospects.
WandyZamani: The Gbenga Hashim Solidarity Movement is entirely correct to emphasize the importance of historical accuracy and unity in safeguarding the Accord Party's future. Setting the record straight on the timeline of Governor Adeleke’s endorsement is crucial to preventing unnecessary internal friction before the 2027 elections.
Investors meaning banking and insurance recapitalisation funds, to redress their eroded capital and asset value due to hyperinflation because the master strategist failed to crash the price of petrol and failed to make a dollar equal to N300 in the short term despite borrowing SPV $3.3 billion from Afreximbank to defend the currency
When will these window dressing propaganda stories stop? Will they ever stop
ijustdey: Nigeria will pay an interest of 11.85 percent per annum on the $3.3 billion “pre-export finance facility” (PxF) facilitated by the Nigerian National Petroleum Company (NNPC) Ltd and arranged by Afrexim Bank, TheCable can report.
Until now, the fine details of the transaction, which has a five-year tenor, had been withheld by all parties involved.
A similar cocoa-backed $800 million facility arranged for Ghana by its cocoa marketing board attracts an interest of 8 percent per annum.
Bilateral lenders, such as the International Monetary Fund (IMF), would typically charge 1-3 percent with a longer tenor.
In the details seen by TheCable, Nigeria pledged a total of 164.25 million barrels of crude oil — at 90,000 barrels per day — starting from 2024 to repay the loan through Project Gazelle Funding Ltd, an “orphan” special purpose vehicle (SPV) incorporated in Bahamas for the PxF.
Effectively, the NNPC has pledged 38.58 percent of five years’ worth of tax and royalty oil to secure the loan.
Nigeria pledges over $12 billion worth of oil At the beginning of 2024, a barrel of Nigerian oil was sold at the international market at $77.93 per barrel, according to the Central Bank of Nigeria (CBN) data.
At $77.93 per barrel, the 164.25 million barrels of oil pledged by Nigeria equals $12.8 billion — about three times more than the facility taken.
Pre-2014, the national oil company used to remit an average of $3 billion from oil sales every month.
Officially, Project Gazelle Funding Ltd (PGFL) is the borrower while the NNPC is the “sponsor” and will pay with oil to the SPV to liquidate the loan.
To make the repayment, the NNPC will forward-sell 90,000 barrels per day of Nigeria’s share of offshore crude oil under the production sharing contract (PSCs) with the oil companies.
Under PSCs, the companies usually pay royalties and taxes by giving the oil equivalent to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Federal Inland Revenue Service (FIRS) respectively.
The NNPC in turn exports the oil on behalf of NUPRC and FIRS and remits the proceeds to the agencies.
This is part of the revenues paid into the federation account and shared by the three tiers of government.
But under the PxF, the revenue from 90,000 barrels per day will be used to service the loan in the next five years.
The loan arrangers will get a commission of $66 million or 2% of the facility, TheCable further learnt.
Nigeria will pay 2 percent penalty per annum in the event of a default.
‘DOLLAR LIQUIDITY TO STABILISE THE NAIRA’
The national oil company announced in August 2023 that the PxF was to support the federal government “in its ongoing fiscal and monetary policy reforms aimed at stabilizing the exchange rate market”, describing it as “a relief for the naira”.
It called the facility “crude oil repayment” with an upfront cash loan “against proceeds from a limited amount of future crude oil production”.
At the time, the dollar exchanged for an average of N775 in the official market and N885 on the streets.
The rates have now moved to N1,035/$ (official) and N1,230/$ (parallel).
Nigeria’s outstanding forex liabilities are currently thought to be over $7 billion.
In an explainer after announcing the PxF last year, the NNPC said its exposure is very limited, “covering just a fraction” of their entitlements and that “there are no sovereign guarantees tied to it”.
It said it “will also equip the Federal Government with the necessary dollar liquidity to stabilize the Naira, with limited risk”.
A strengthened naira as a result of the initiative, it said, “will lead to a reduction in fuel costs. This means that if the Naira appreciates in value, the cost of fuel will drop and further increases will be halted”.
It also ruled out subsidies, maintaining that a stronger naira “will result in lower prices from the current level, making subsidies unnecessary. The deregulation policy remains unchanged”.
Critics questioned NNPC’s involvement in getting loans to boost forex reserves when it should be concentrating its efforts on bringing in more oil revenues.
There were also questions over the decision to pledge the tax and royalty oil belonging to the entire federation to secure the loan.
Analysts also queried why the details of the deal were never made public.
Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun made this known at the end of the inaugural Federal Executive Council meeting in Abuja. Mr. Edun said that the benefit of the subsidy removal will be plough back into various sectors to improve business environment for local and foreign investment. He added that with the increased revenue from subsidy removal, various palliatives have been made available to cushion its effect on a short, medium and long-term basis.
Ofunaofu: Report: Current Govt Added More Debt in Two Years Than Nigeria Accumulated in 55 Years
• Decries Nigeria’s debt service-to-revenue ratio
•Urges FG to declare fiscal emergency
A new policy brief has warned that Nigeria’s worsening debt profile and weak revenue generation have pushed the country into a dangerous fiscal position, with the current administration accumulating more debt in two years than Nigeria recorded during its first 55 years after independence.
The report, released by the Alliance for Economic Research and Ethics LTD/GTE, a Nigerian policy think tank, argued that the country’s debt crisis has evolved into a governance and revenue emergency, as debt servicing obligations now exceed the federal government’s retained earnings. > > According to the think tank, Nigeria’s public debt rose sharply from N87.38 trillion in June 2023 to N159.28 trillion by the end of 2025, with President Bola Tinubu’s administration accounting for about N65.9 trillion of the increase within its first two years in office.
The organisation in the brief titled: “Nigeria Is Borrowing to Breathe—and the Clock Is Ticking”, noted that Nigeria accumulated only about N12.06 trillion in debt from independence in 1960 up to 2015, meaning the current administration added more than five times that amount in just 24 months.
The report stated that while previous governments also contributed significantly to the country’s rising debt burden, the speed of accumulation under the current administration had intensified concerns over fiscal sustainability.
“President Bola Tinubu’s administration has added a further N65.9 trillion in just two years. To put that in perspective: it took Nigeria’s first 55 years of independence to accumulate N12 trillion in debt. The current administration has added more than five times that amount in 24 months,” it argued.
It recalled that Nigeria briefly became almost debt-free externally after the administration of former President Olusegun Obasanjo secured an $18 billion Paris Club debt relief package in 2005 and paid $12 billion to extinguish about $30 billion in external obligations.
SamuelOamen: Alluding to what he described as the broader implications of the falsehood, he said: “The confusion surrounding Abacha’s death is a microcosm of a larger problem in Nigeria: a leadership culture steeped in falsehood and a lack of accountability.”
He added that “ the deliberate suppression of facts and the promotion of misinformation by those who should be held to a higher standard have kept the country in a retrogressive circle.”
Amachree warned that power is transient and no condition is permanent.
He said: “Abacha, a military dictator who surrounded himself with a seemingly impenetrable security detail, thought he was invincible. Yet, in the end, death kept it’s appointment with him, rendering his concentric rings of security useless.
“His story is a poignant reminder that power is transient and that no amount of security can shield a leader from their ultimate fate.”
The author raised some puzzles: why did the Generals, close aides and politicians deliberately propagate false narratives about Abacha’s death? Who fed the media with these fake stories?
Warning against fabrications, Amachree said: “While the truth may be suppressed temporarily, the forces of human curiosity and investigative inquiry will ultimately bring it to light.”
Before Abacha died he had perfect the plan for self succession.
He wanted to transmit from military dictator to civilian president.
He formed five political party, put his men in charge of all of them and made all of them to adopt him as their presidential candidate.
The parties were struggling to do his bidding while giving the impression of a transition to democracy.
A former political leader and second republic governor of Oyo State the late Chief Bola Ige famously described the five parties as five fingers of a leprous hand.
"A leadership culture steeped in falsehood and a lack of accountability", is there any politician that embodies this than Jagaban of Borgu?
The master strategist in Aso Rock is hellbent on breaking every record of the Goggled One. Hopefully he does not also break his apple-eating record on his way to Baba God, or more likely bobo satan
Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun made this known at the end of the inaugural Federal Executive Council meeting in Abuja. Mr. Edun said that the benefit of the subsidy removal will be plough back into various sectors to improve business environment for local and foreign investment. He added that with the increased revenue from subsidy removal, various palliatives have been made available to cushion its effect on a short, medium and long-term basis.
Ofunaofu: Report: Current Govt Added More Debt in Two Years Than Nigeria Accumulated in 55 Years
• Decries Nigeria’s debt service-to-revenue ratio
•Urges FG to declare fiscal emergency
A new policy brief has warned that Nigeria’s worsening debt profile and weak revenue generation have pushed the country into a dangerous fiscal position, with the current administration accumulating more debt in two years than Nigeria recorded during its first 55 years after independence.
The report, released by the Alliance for Economic Research and Ethics LTD/GTE, a Nigerian policy think tank, argued that the country’s debt crisis has evolved into a governance and revenue emergency, as debt servicing obligations now exceed the federal government’s retained earnings. > > According to the think tank, Nigeria’s public debt rose sharply from N87.38 trillion in June 2023 to N159.28 trillion by the end of 2025, with President Bola Tinubu’s administration accounting for about N65.9 trillion of the increase within its first two years in office.
The organisation in the brief titled: “Nigeria Is Borrowing to Breathe—and the Clock Is Ticking”, noted that Nigeria accumulated only about N12.06 trillion in debt from independence in 1960 up to 2015, meaning the current administration added more than five times that amount in just 24 months.
The report stated that while previous governments also contributed significantly to the country’s rising debt burden, the speed of accumulation under the current administration had intensified concerns over fiscal sustainability.
“President Bola Tinubu’s administration has added a further N65.9 trillion in just two years. To put that in perspective: it took Nigeria’s first 55 years of independence to accumulate N12 trillion in debt. The current administration has added more than five times that amount in 24 months,” it argued.
It recalled that Nigeria briefly became almost debt-free externally after the administration of former President Olusegun Obasanjo secured an $18 billion Paris Club debt relief package in 2005 and paid $12 billion to extinguish about $30 billion in external obligations.
correctguy101: Be very careful of the narratives of ya oppressors.
We even know the so-called mother Teresa wasn't all good as they try to make us believe.
How are your own politicians and religious leaders looters not worse oppressors
How many oyinbo politicians steal money that should employ teachers and other workers to make education free and water available for all children and all residents respectively, to hide it with our oppressor whites?
thewinning101: PANDORA PAPERS: Buhari visited Tinubu in corruption-tainted London villa acquired by Oyetola
Governor Oyetola, a relative of Mr Tinubu, may have sabotaged his own country by buying the exotic property as Nigeria made to seize it.
ByNicholas IbekweandTaiwo-Hassan Adebayo October 7, 2021 in Headline Stories, Pandora Papers Reading Time: 8 mins read
It was a meeting of two of Nigeria’s most influential politicians in London – President Muhammadu Buhari was visiting political kingmaker and senior member of his ruling All Progressives Congress (APC), Bola Tinubu.
In July, the presidency announced that Mr Buhari was heading to London for an education summit. The office also added that the president would also see his doctors for “medical check-up”.
Coincidentally, Mr Tinubu, who had travelled to London earlier, was also receiving treatment for an undisclosed ailment in the British capital. So, a perfect setting for both men to meet was created.
Ojiofor: Even if it's a state road is he expected to do all the roads in Abia state in 3 years?
Yes, he is expected to fix all the roads in 3 years with all the huge allocations received from the jointly owned federation account plus the IGR generated from Abians, in addition to loans. And not just the main roads o, like the one reported in this skit. Also feeder roads that are in front of people's houses, offices, shops etc.
Have you heard about Stockholm syndrome before? You can start your free education from the OP below:
Talking about free education, do you know if communist labourer LP Otti has employed up to 19,500 teachers like Makinde? Abi he is still struggling with less than 5% public to private schools ration like Tinubu's progressive Lagos after 27 years of a-looter budget increase 100 times to N4.2 trillion?
Babasessy: The Awolowo rebirth in the Southwest has inspired gongs, songs and rhetoric of sorts. But they have missed one point.
It occurred to me in Abeokuta last week amidst the big crowds and euphoria of the swearing-in of Senator Ibikunle Amosun as governor. In all the states from Lagos to Edo, where Awo has witnessed ideological resurgence, hardly a single family member has played a role.
So we have an Awo family without an Awo. That is an irony. But history overwhelms us with this sort of twist. Obafemi Awolowo toiled for his reputation. His roots were lowly, he toiled to school both home and abroad, launched into careers in law, business, journalism and eventually politics. He carved a niche for himself, and became the first methodical and charismatic leftist in our history. Other leftists abounded but they did not inspire comparable drama and following.
He faced tribulations, went to jail, failed in elections, won a few, but he imprinted his ideas and legacy in the country, and no single mortal has beaten him in the history of this country. His greatest achievement was in the area of ideas, and that was how he fashioned a family. Most families are born of biology but his issued from ideology. That family suffered with him.
In a spoof of Jesus Christ, these were the men who followed him in his teachings, and endured with him in his temptations. So he formed a kingdom for them in the Southwest, in the old Western Region, presiding over his projects, his legacies and people.
In all of these, the family he had was not his flesh and blood. In another spoof of Christ, who were his family anyway? Those who were with him must be counted as his family. So, I combed in the ambience of Babatunde Raji Fashola (SAN), and I found none. I went to Ogun, I frisked the crowd under Amosun’s bower, hardly any. Around Ogbeni Rauf Aregbesola in Osun, I could not lay a finger. With Governor Kayode Fayemi in Ekiti, where are the forbears of Awo? Yet, I can hear the chants of Awo. Hardly in any of the inaugural speeches or any of their other public intervention would you miss the philtre and filter of Awo from these gentlemen. To parody Novelist Joseph Conrad, they are the sparks from Awo’s sacred fire, the messengers of the might within the man.
Already all of them are pursuing the legacy ideas of Awo: free education, free health services, infrastructural development, urban renewal and economic engineering.
Lagos has posted itself as the John the Baptist. The others are putting up valiant efforts, and the world of course is watching to see how well they will perform. It will call for great work, resourcefulness and cooperation. They are the real Awoists, and Awo was a man of rigour and vigour.
The Awo son that many expected to take after the father was Olusegun, who unfortunately died in a car crash. We shall never know if he could have pulled it off. But the others have not shown much of the paterfamilias’ brio and depth. In the past decade, under this republic, they have blended with the wrong crowd. Even H.I.D, hobnobbed with Alao-Akala, who brought illiteracy to governance; with Oyinlola who turned the grace of office into a hell-hole of despots; with Daniel who could not arrest his quick fall into megalomania.
I wrote once that this woman whom Awo once described as the jewel of inestimable value has lost value to his cause. If he came back to life, he would have committed the extraordinary act of divorce after death. Even his newspaper, The Tribune, has so stumbled and fallen that it swims in Awo’s vomit.
anonimi: Ratio of public to private schools in Lagos State is one to 22 ― Commissioner
The Lagos State government has said the ratio of public to private schools at both primary and secondary school levels in the state is one to 22.
The state’s Commissioner for Education, Mrs Folasade Adefisayo, gave the revelation in her remark at the 2022 edition of the Total School Support Seminar Exhibition (TOSSE) held at Oregun in Ikeja between Thursday and Friday.
Kingrshd3: Local production that will be more costly than imported once ..
Local rice is around 75k and imported once are around 50k + 😂 😆
So what's the significance of local production 🤔
It's always easier said than done bro ..
When China, South Korea, India etc were moving away from being countries of extreme poverty, peasant farming and jobless paupers to industrial powerhouses, was local produced items cheaper than imported things?
Did these countries use high tariffs to discourage cheap imports from flooding their markets? Are Western countries doing the same to China now, after just five decades of serious manufacturing growth
What is the sense in shipping jobs and money abroad to overseas manufacturers like the balablu bulaba Aso Rock clown is doing for quick fixes that become bigger problems later?
anonimi: How import waivers are crippling local rice mills
Rice millers have raised concerns over the federal government’s import duty waiver on rice, maize and sorghum, saying it is hurting their businesses.
This is just as the Nigeria Customs Service (NCS) said the waiver has caused food prices to drop.
temmyyem: There is nothing called govt, stay away from these politicians. They are behind on the issues we have as a people.
If we stay away from politicians as you advise, then who should we stay close to, in order to have people run our local, state and federal governments
Abi you want anarchy ni?
anonimi: “The worst illiterate is the political illiterate, he doesn’t hear, doesn’t speak, nor participates in the political events.
He doesn’t know the cost of life, the price of the bean, of the fish, of the flour, of the rent, of the shoes and of the medicine, all depends on political decisions. The political illiterate is so stupid that he is proud and swells his chest saying that he hates politics.
The slowpoke doesn’t know that, from his political ignorance is born the prostitute, the abandoned child, and the worst thieves of all, the bad politician, corrupted and flunky of the national and multinational companies.”
CzarChris: I was seriously expecting this response. Well, I'm not a tinubu fan boy, I'm 100% pro Obi, I'm not a politician, but believe it or not, Atiku would be the worst thing to ever happen to this country if ever elected.
So why was Obi his running mate in 2019, five years after Obiano made him a political destitute and PNG'd his political sponsor from their regional party APGA?
Any brilliant idea as to why
newsbook: Anambra State governor, Chief Willie Obiano has re-echoed his allegation that his predecessor, Mr Peter Obi demanded the sum of N7.5billion from him for sponsoring his election in 2013.
Obiano and his predecessor, Obi have had a frosty relationship shortly after his swearing in.
Obi has however denied that he demanded for the sum of N7.5billion from Obiano, saying that his problem with him was his (Obiano’s) underperformance.
Obi said if he needed the said sum, he would have simply taken it from the N75billion he left for the Obiano administration at the end of his tenure.
But Governor Obiano while speaking on Wednesday evening at Ezechima Primary School, Onitsha where he inaugurated his reelection campaigns in Onitsha North Council Area, said the clarification became necessary because of the recent accusations against him by the former Governor.
He stated that his predecessor had demanded the sum of N7.5billion from him as funds spent in prosecuting the election on his behalf, but that he refused to pay the money because it was not true.
Obiano said he refused to pay because he strongly believed that public funds should be used for public good, and not to settle godfathers.
These, he said, was the reason they fell apart.
The governor said that another reason he refused to pay the money was because he was aware that enough money was raised for his campaign by his friends and associates, all of which were never accounted for by the former governor.
On the actual sum the former Governor claimed he left behind, Governor Obiano made it clear that he inherited liability of about N127 billion debt from him in contracts awarded and other responsibilities, which he has been religiously undertaking in the spirit of continuity.
He said Obi flagged off several roads even on the day he was leaving office and saddled him with the burden of paying for it, but he assured the people that he has his eyes on the ball and will not allow anything to distract him from fulfilling his promises.
The Chairman of the Governor’s Re-election Campaign Committee, Chief Victor Umeh said APGA as the political spirit of Ndigbo, has in the past three and half years, availed Anambra good governance at its best, reminding the people that the upcoming guber election was not about Willie Obiano but about ensuring that the state remained free from political godfatherism.
A former Central Bank Governor, Professor Chukwuma Soludo in his speech said that at this time, the State needs a tested hand like Governor Obiano who has the experience and expertise to effectively steer her affairs.
Will Wale Ediun's implicit explanation below, be enough for you
Nemere2020: The Minister of Finance and Coordinating Minister of the Economy Chief Olawale Edun has said the last time Nigeria’s economy looked stable was about a decade ago.
He made this statement during his maiden press conference as Minister of Finance where he outlined President Bola Tinubu’s vision, agenda and strategy for the economy.
He said, “I think as we all know, we are not where we should be. The economy is barely growing above the rate of population growth.
“But it was not always so, and I think in trying to look at the way forward, if we now have a situation of slow growth, double-digit inflation, weak/depreciating exchange rate, as well as security concerns that are resulting in an economy that is not growing and not taking Nigerians out of poverty.
“If we think back to the last time when the economy was stable- when it was growing, when inflation was low, and the interest rate was affordable, that period was about a decade ago. Growth was about 6% in 2013 and 2014.”
chatinent: Imagine a monkey promising you that your banana farm will never short of calculations after the financial year, or perhaps your goat assuring you your Ugwu farm is in safe hands.
To the guy who posted Obasanjo's comment, the only key point I saw there is that "both" of them are theives.
Atiku has done what he said already, as Obasanjo's VP for eight years of widespread prosperity, peace and security with cheap petrol, cheap dollars, low debt burden, less unemployment, less inflation etc. All these were driven by deregulation and privatisation policies for a business-friendly economy.
Obasanjo said as much in his grudging 2019 endorsement of Atiku and Obi's ticket. Left to Obasanjo, he would have focused on continuing government ownership of businesses and peasant farming like he did with Operation Feed the Nation (OFN) as military dictator.
anonimi: How Indorama sustains manufacturers, boosts Nigeria’s FX earnings
Indorama Eleme Petrochemicals Limited (IEPL) has emerged as a major value creator in the Nigerian economy. It is responsible for the survival, growth and sustenance of many manufacturing companies in Nigeria today. A large number of plastic and allied firms depend on the Eleme-based company for petrochemical resins (or polymer resins) which serve as their raw materials.
The petrochemical company is just one of the several subsidiaries of Indorama-Nigeria Group, which also comprises Indorama Eleme Fertilizer & Chemicals Limited (IEFCL), Indorama PET Nigeria Limited, and Indorama Port Operations.
Since Indorama Corporation of Indonesia became core investor in the old Eleme Petrochemicals Company Limited (EPCL) in 2006 through privatisation programme of the Federal Government, the group has become a game changer in the Nigerian economy.
The petrochemical company has solved the major challenge facing a number of manufacturers— poor access to raw materials. Rather than scramble for foreign exchange to import inputs, the company ensures that manufacturers have access to their critical raw materials, enabling them to save costs and improve margins.
The major resins used by plastic and allied companies are polyethylene and polypropylene. Indorama produces about 45 grades of these products for various industries. About 600 of such companies in Nigeria depend on IEPL for their survival. They are estimated to have over 90,000 workers.
Ofunaofu: Anyone who still claims Peter Obi hasn't made significant inroads into the North especially the North West, isn't reading the political map; they're reading fiction. Add a formidable northern politician like Kwankwaso as his running mate, and the equation becomes even more interesting.
Kwankwaso is not interested in 2027 to wait for eight years as Obi's VP before getting a chance to be president, when he can be that in just four years if Tinubu fails to get a 3rd term in 2031, just like Obasanjo failed in 2007.
Kwankwaso is the new Utomi. Unstable, unreliable, two-timing Utomi incidentally was the first presidential of ADC in 2007.
lexylaw40: The “president-elect” saw in Obi's presidential bid, a good chance to reduce the winning chances of the presidential candidate of the PDP, Atiku Abubakar.
The governorship candidate of the Labour Party (LP) in Oyo State, Tawfiq Akinwale, [/b]on Wednesday [b]stated that the “President-elect” Bola Tinubu asked popular economist, Prof Pat Utomi to step down for Peter Obi in the buildup to the 2023 general elections.
Akinwale made this revelation while he appeared as a guest on a radio programme on 101.7 YES FM, Ibadan, Oyo State, while alleging that Obi received campaign funds from Utomi, whom he described as Tinubu's "son."
The LP aspirant, who spoke in Yoruba language, said "In the buildup to the 2023 elections, Obi who had purchased the nomination form of the Peoples Democratic Party (PDP), suddenly announced his exit from the party.
"Initially, Pat Utomi had secured the LP's presidential ticket, but when Peter Obi said he resigned from the PDP and joined the LP. Bola Tinubu, a master political strategist, quickly told Utomi, that everyone knows to be his son to step down for Obi.
"The “president-elect” saw in Obi's presidential bid, a good chance to reduce the winning chances of the presidential candidate of the PDP, Atiku Abubakar.
"What Peter Obi didn't know is much more that what he knows, he started collecting campaign funds from Utomi, while Tinubu was giving the money to Utomi.
"This went on until Obi's presidential campaign got to a stage it went beyond target. Obi was used without him knowing," Akinwale said after announcing his departure from the party.
Obi defected to the LP after resigning his membership of the Peoples Democratic Party (PDP) and also withdrawing from the presidential race under the party.
The former governor consequently joined the race for the party’s presidential ticket, while Professor Pat Utomi, in June 2022 stepped down for him to emerge as the presidential candidate of the Labour Party, LP, unopposed in Asaba, Delta State.
greatiyk4u: Come to Taraba and Adamawa state and see the organic lovers of Peter Obi in these areas
If the man's problem is religion, then let Muslim Northerners vote others while Christian Northerners and educated and exposed Northerners vote the peoples president Mr Peter Obi......
Why would Christian northerners and educated/exposed northerners vote for the people's pretender
NLCreator: Peter Obi, presidential candidate of the Labour Party (LP) in the 2023 elections, has defended the purchase of sports utility vehicles (SUVs) for members of the national assembly.
There have been reports that the leadership of the 10th national assembly has bought SUVs for all lawmakers.
Each SUV is said to be valued at N160 million.
The LP had asked members of the party in the national assembly to kick against “wastage”.
While responding to questions during a press conference in Abuja on Monday, the former governor of Anambra said the SUVs are not personal cars of the lawmakers, noting that they are for official use.
“Let me start with the issue of Labour Party members in the house. I have actually discussed this issue with them,” Obi said.
“Surprisingly, I can tell you I heard that these vehicles are official cars. They have to use it. It is meant for office.
“So it is not as if it is their vehicle. They said it is official cars and you are meant to use it while you are in the senate.”
Obi also hinted at contesting for the country’s number one position in 2027, adding that Nigeria deserves dedicated and visionary leaders who will lead the country towards a brighter future.
aduboy: Anambra distributes 177 vehicles to traditional rulers
Governor Peter Obi of Anambra State, on Monday in Awka, distributed one SUV each to the traditional rulers of the 177 communities in the state.
Obi handed over one of the vehicles’ key to the state Chairman of the Traditional Rulers’ Council, Igwe Alfred Achebe, Obi of Onitsha.
He said that the gesture was aimed at helping them run and build better communities, adding that the vehicles would also help the traditional rulers to function effectively.
“If you have better communities, you will have a better Anambra, Anambra today is changing for better and I want this sustained,” the governor said.
“In doing that, the state government and the local government will do what it can to support the building of a better Anambra.”
Achebe said that he was overjoyed because the governor cared about the well-being and welfare of the traditional rulers.
“It is completely unprecedented in Anambra and probably elsewhere in Nigeria,” he said.
“It is a mighty gesture from the governor and for the government of the state to make a distinct impact on the well-being of the traditional rulers in the state.”
According to him, it was one of the several measures the present administration in the state had taken to improve the wellbeing of the traditional rulers.
“We pray that God will give us a successor that will continue from where Obi has left and lift Anambra to the next level.”
As long as you don't curse Nigeria, you shall eat the good of the land. God bless Nigeria!
Three years later, are you sure the houses have been completed as part of your renewed hope? Abi you don wake up see say na renewed hopelessness from the balablu bulaba master strategist of fake promises and ofege announcements
AderonkeOlaniyi: Create industries for the youths and stop the propaganda.
Why should local, state and federal governments create industries when we saw how NITEL was mismanaged before telco was deregulated by the Obasanjo/Atiku admin.? Why are you asking for this when you know how Nigeria Airways, NNPC refineries died and remain dead?
Governments have no business doing business.
anonimi: Neo-black Problem: Must Blacks Be Ruled by Whites in Order to Prosper?
In short, the neo-black dilemma may be framed as follows: is it better to live under white rule without political dignity but with basic life-sustaining standards for many;
or to live under black rule with illusory political dignity and without basic life- sustaining standards for the majority? @ @ The path forward for Africa lies in cultivating higher and adequate levels of personal and communal agential integrity as well as full personal responsibility and productivity. Not to mention creativity (including epistemic creativity), productive justice (such as merit and freedom), harmony and reconciliation at local and international levels, and a proper domestication of capitalism and other related values and institutions.
Africa must stop wasting her time on dreams of socialism because it is a system of wealth distribution primarily. Whereas, capitalism is a system of wealth creation primarily, and wealth has to be produced before it can be distributed.
Can it be that you are not aware of how NNPC petrochemicals division was privatised to Indorama by the Obasanjo/Atiku admin as part of what gave us 16 years of prosperity, peace and security under PDP before jagaban of Borgu begged his fellow northerner Buhari to make Jonathan a one term president?
anonimi: How Indorama sustains manufacturers, boosts Nigeria’s FX earnings
Indorama Eleme Petrochemicals Limited (IEPL) has emerged as a major value creator in the Nigerian economy. It is responsible for the survival, growth and sustenance of many manufacturing companies in Nigeria today. A large number of plastic and allied firms depend on the Eleme-based company for petrochemical resins (or polymer resins) which serve as their raw materials.
The petrochemical company is just one of the several subsidiaries of Indorama-Nigeria Group, which also comprises Indorama Eleme Fertilizer & Chemicals Limited (IEFCL), Indorama PET Nigeria Limited, and Indorama Port Operations.
Since Indorama Corporation of Indonesia became core investor in the old Eleme Petrochemicals Company Limited (EPCL) in 2006 through privatisation programme of the Federal Government, the group has become a game changer in the Nigerian economy.
The petrochemical company has solved the major challenge facing a number of manufacturers— poor access to raw materials. Rather than scramble for foreign exchange to import inputs, the company ensures that manufacturers have access to their critical raw materials, enabling them to save costs and improve margins.
The major resins used by plastic and allied companies are polyethylene and polypropylene. Indorama produces about 45 grades of these products for various industries. About 600 of such companies in Nigeria depend on IEPL for their survival. They are estimated to have over 90,000 workers.
Politics › Re: US-Based Lobbyist Sends Records On Tinubu’s US Forfeiture Case To Trump, Congres by anonimi: 5:31am On Jul 22
he should say his own and stop aligning/attaching with Ghana.
#RenewedHope ✌