Wickedfact: How much did PDP meet the Dollar to Naira when they got into power in 1998?
How much did PDP leave the Naira to a Dollar in 2015 when they left?
The dollar exchange rate increased in PDP's 16 years along with widespread prosperity, high employment productivity driven by privatisation and deregulation policies.
The dollar exchange rate has skyrocketed under clueless A-looter Propaganda Congress, APC leaders who are sharing palliatives upandan instead of creating jobs to make people earn a living in dignity.
The deliberate impoverishment of Nigerian is real under APC.
Lithiumite: Very low interests rate will flood the economy with too much liquidity without commensurate production capacity to meet such demand there by resorting to importation and then increased dollar demand which will then further depreciate your currency and the excess liquidity leading to inflation which you are fighting so hard to contain.
Your progreThief balablu story is at variance with Wale Edun’s testimony and data on PDP’s prosperity years of deregulation and privatisation.
thisweekng: 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.” Private sector to drive the economy
Richtaiwo: Ah, now this is what happens when education and intelligence decide to log in at the same time.
Thoughtful contributions like yours are exactly the kind of rare, refreshing content this site deserves, a welcome break from the usual festival of noise.
Good explanation there and may God increase your knowledge.
Did education and intelligence log out for APC progreThief leaders looters below since 2015, when they have failed to achieve their recycled goals for exchange rate?
The worst case being Tinubu, who saved $84 billion from subsidy removal and borrowed $3.3 billion to specifically defend the Naira. Borrowed money from Afreximbank through an SPV future oil revenue security, arranged by UBA at the outrageous rrate of 11.85%.
anonimi: World Bank offers Nigeria forex rate advice, as Tinubu eyes N200/Dollar rate
April 23, 2023
The President-elect said he would work with the Central Bank of Nigeria (CBN) to *bring down the exchange rate to N200 in his first term.*
“My administration will collaborate with the Central Bank to harmonize the fiscal and monetary policy to achieve immediate stabilization of the value of the naira against the US dollars and other currencies and in the short term, strengthen the naira by boosting the supply of foreign currency and moderating demand.
“The short-term goal is to achieve a naira/dollar rate of 300 naira/US$ and gradually achieve a less than 200 naira rate over the next four years, Tinubu stated.
Muhammadu Buhari, presidential candidate of the All Progressives Congress (APC), has promised to ensure that the naira would be equal to the dollar in value if voted into office.
NAN reports that Buhari said this on Monday during the south-east presidential rally of the party at Dan Anyiam Stadium, Owerri.
“It is sad that the value of the naira has dropped to more than N230 to one dollar. This does not speak well for the nation’s economy,” he said.
He urged the people to vote for APC, noting that he would ensure that corruption was tackled headlong if elected.
demstone: PER CAPITAL GDP OF LAGOS IS $6650 WHILE DAT OF NIGERIA IS ABT $850... MEANING U HAVE ATLEAST 8TIMES MORE WEALTH IN LAGOS DAN ANYWHERE IN NIGERIA..
LAGOS IS ABT 50% OF NIGERIA'S GDP & CAN SURVIVE WITHOUT OIL REVENUE..WHILE NIGERIA CN NEITHER SURVIVE WITHOUT OIL REVENUE NOR LAGOS.. SWALLOW UR PRIDE OIL REVENUE IS DISAPPEARING, NIGERIA HAS A LOT TO LEARN FROM LAGOS
Are you shouting with ALL CAPS because you think that screaming falsehoods will somehow force people to see them as true?
What is your source of GDP per capita for Lagos state and Nigeria?
Why has this reported Lagos GDP per capita failed to materialise in basic services and common utilities provided by well paid government workers since 1999?
anonimi: Ratio of public to private schools in Lagos State is one to 22 ― Commissioner September 4, 2022
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.
PigTormentor: Why are all these people moving to APC.
We need a strong opposition, we don't need everyone to be in one party. It's not good for our democracy. Too much power can make any power drunk. Trump is a good example.
What works are you doing personally to make Nigeria have a strong opposition
demstone: TINUBU IS OBVIOUSLY NO LONGER COMPETING WITH OBI ND ATIKU, HE IS CLEARLY JUST MESSING WITH DERE HEAD.. D WAY LIONS MESS WITH CAPTURED PREY B4 DEVOURING IT..
Is that not how he has been messing with the heads of 20 million Lagosians since 1999 and with 200 million Nigerians since 2023- increasing taxes and debts without matching government services and utilities
kolafolabi: The PDP G5 have successfully dealt a heavy blow to the party. Though it is not yet completely buried, thank God the G5 themselves are no longer on the best of terms. All thanks to the brilliant maneuvering from the President, the political genius at work.
But seriously, if I were Waziri, I would consider stepping down for PO, at least for the sake of the new platform, the ADC, and to give the new party a stronger footing. Sometimes personal ambitions must give way to strategic moves for the greater political good. This is exactly the kind of moment where vision matters more than titles.
Why is Tinubu not a governance genius as well
What should be of greater concern to Nigerians who are not part of Lagbaja's 200 million mumus, who forever wonder who cursed us?
AMINDA: At this point, no sane person can deny the Paul Biya tendencies but time is a gentleman.
They never hated Sani Abacha, they were just envious of him.
Jagaban is striving to surpass the man he begged for a job and failed before pretending to be a NADECO activist as cover for his Chicago drug business.
anonimi: My dad, victim of complex conspiracy – Kola Abiola
What role did Bola Tinubu play in all of these?
At the very beginning, he was part of the Yar’Adua PF group from Jos. He was a senator then, and as far as the group went, we related. The crisis started post-election. When Abacha came, one of the things he wanted to do was to be the administrator for Lagos.
That is Tinubu?
Yes. I am sure you have seen pictures of him and my dad. He was hoping that there would be civilian administrators like we had under IBB but Abacha said no, that he was going to have military administrators. So he (Tinubu) said okay, in that case, can I be a deputy administrator? But Abacha said that there wouldn’t be deputies. Then he wanted the post of a commissioner.
He wanted to be a commissioner?
Yes. Then it was a choice between him and someone very close to Jakande who has passed on now. I can’t remember his name, but because Babagana was already in the government, that guy was picked as commissioner. But really, Senator Tinubu had lost out already.
Was Tinubu very close to MKO?
Yes, he was close enough. He and Adeniyi Adele, a very good guy, were close to my father. In fact, Adeniyi was closer to my father and more dedicated to the process than anyone of them. When my documentary comes out, you will see Tinubu’s take on issues. So once he lost out, automatically, he became a NADECO member and Adeniyi was incarcerated.
Should we not be talking about the bad omen for a return to PDP prosperity years of deregulation and privatisation policies that gave us cheap fuel and better life without huge debt burden
Assuming we are not all 200 million mumus, but citizens who understand that they have sovereignty and can work to increase accountability of those temporarily allowed to exercise the sovereignty on our behalf!!!
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.”
― Bertolt Brecht
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Racoon: The ranking placed Nigeria in 186th position, only after Haiti, among 187 countries of the world. Nigeria is the second country in the world with the lowest voter turnout, worse than war-ravaged Afghanistan and Libya, a new ranking by Picodi has shown.
The ranking placed Nigeria in 186th position, only after Haiti, among 187 countries of the world. Nigeria also ranked worst in Africa. Nigeria’s low voter turnout
PREMIUM TIMES had reported how Nigeria recorded a new low in voter turnout during the last general elections. With a national turnout of 29 per cent, a Premium Times analysis showed that the last election had the lowest participation rate in the country’s six decades of independence.
It further revealed that of the 93.4 million registered voters this year, 87.2 million people collected their Permanent Voters Card and the total number of actual voters on election day was only 24.9 million..The winner of the election, Bola Tinubu, had less than nine million votes, roughly 10 per cent of the total eligible voters.
Another analysis by this newspaper revealed that all the 18 candidates in Nigeria’s February elections received only 27.55 per cent of the total eligible votes.
Boladogailese: Very soon insurgence will become a thing of the past
The insurgence that Jagaban of Borgu is bankrolling and releasing terrorists back into the wild
Nigeria paid Boko Haram ransom for kidnapped pupils: intel sources
Kano (Nigeria) (AFP) – The Nigerian government paid Boko Haram militants a "huge" ransom of millions of dollars to free up to 230 children and staff the jihadists abducted from a Catholic school in November, intelligence sources told AFP.
Issued on: 23/02/2026 - 13:10
Two Boko Haram commanders were also freed as part of the deal, which goes against the country's own law banning payments to kidnappers.
The money was flown on a helicopter to Boko Haram's Gwoza stronghold in northeastern Borno state on the border with Cameroon and delivered to Ali Ngulde, a militant commander in the area, three sources told AFP.
Due to the lack of communications cover in the remote area, Ngulde had to cross into Cameroon to confirm delivery of the ransom before the first group of 100 children were released.
The decision to pay the jihadists, who sparked worldwide protests after they kidnapped 276 mostly Christian girls in Chibok in 2014, is also likely to irritate the US and President Donald Trump, who has cast himself as a defender of the country's Christians.
Is that because he failed to achieve his N300/$1 short term goal despite saving $84 billion from subsidy removal and borrowing $3.3 billion from Afreximbank to defend the Naira
LagosOrigin: No sane person will vote for tinubu in 2027 .. forget the election in Abuja and rivers, it's a kindergarten election nobody took serious.
Peter Obi himself will be on the ballot in 2027 presidential election so it's going to be a different ball game .
How can anything be a different game with this hypocrite- do as I say but not as I do chap
aduboy: Anambra distributes 177 vehicles to traditional rulers Posted by NAN 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.”
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.
Journalist: how do you intend to engage members of your party who are members of the house, so that they can stand different.......?
PO: Let me start with the issue of labour party members in the house, have actually discussed this issue with them, surprisingly, I can tell you ,… pic.twitter.com/svybrcY4t3
— Senator Baruch Chinanu Boniface (@SenatorBaruch1) November 7, 2023
Baawaa: This man is a liar,for him to say there is NO POLLING UNIT in this country without network
Were Tinubu and ACN/ APC liars when they said we should have electronic voting by 2015?
Why have they failed to implement this desire, 11 years after they were given the opportunity to implement their change
January 13, 2013
ACN wants electronic voting in 2015
The Action Congress of Nigeria on Sunday said the country must use electronic voting in 2015 in order to ensure the integrity of its elections.
The party also called for the hand over of elections back to Nigerians instead of the judiciary.
ACN in a statement signed by its National Publicity Secretary, Alhaji Lai Mohammed, said with electronic voting, the overall cost of elections will be far less; there will be stability in the polity, the atmosphere of war usually associated with elections will disappear and the involvement of the security agencies will be de-emphasized.
It said though Section 52 sub-section 2 of the Electoral Act bans the use of electronic voting ”for the time being”, the National Assembly should move quickly to amend that part of the law, while the Federal Government should provide the Independent National Electoral Commission with all the resources needed to make electronic voting a reality. @ @ The party argued that even Ghana, which has organised perhaps the best elections in this part of the world, has realized it can no longer continue with manual voting, hence it did not wait for troubles associated with electoral malfeasance to break out before embracing electronic voting during its last general elections in December.
”It is not just enough for us to sit back in envy while the world hails our neighbour Ghana for being a model in electoral rectitude and participatory democracy. Let us ask ourselves what we need to do differently to shed our toga of electoral fraud and brigandage.
”Yes, there were some hiccups during the last elections in Ghana, which were conducted with electronic voting. But Ghana quickly moved to correct whatever problems came up. The system also allowed Ghana to extend voting without fearing that ballot boxes will be hijacked or stuffed,” it added.
Satazaa: The ignorant will be singing what's the point in having such a healthy reserve if the welfare of ordinary Nigerians is not impacted, but point is having such high reserves calms the nerves and uneasiness of foreign investors and even wealthy Nigerians in diaspora which makes them invest in the economy thereby reflating and boosting economic activities that spurs manufacturing, service sector and employment
All these dogo turenchi are balablu town hall words to say nothing.
If anything you said was meaningful, then why have they failed to deliver Jagaban’s N300/$1 after 33 months of hitting the ground running?
adekolaelect: Gradually things will get good for Nigeria .
Is this your renewed hope based on how much debt Tinubu has accumulated over and above the debt of PDP prosperity politicians who gave us cheap petrol and better life for 16 years of deregulation and privatisation policies?
All these things were wrecked by A-looter Propaganda Congress, APC leaders looters who promised positive change but delivered extreme poverty shege since 2015.
Amotolongbo: Another reason for them to start shouting 😂
Where will lazy youths and extreme poverty paupers find the strength to shout?
It’s only bamubamu layo amunisins that have the strength to shout.
They even have the strength to fight for power, grab it and run cluelessly with it like a headless dog 🐶.
BeeBeeOoh: The First Lady of Nigeria, Oluremi Tinubu, has urged Nigerian youths to be hard-working, saying, “There is no food for lazy man.”
Mrs Tinubu said this during a courtesy visit to the palace of Ooni of Ife, Oba Adeyeye Ogunwusi, in Ile-Ife, Osun State, on Thursday.
She noted that while the Tinubu-led administration is working hard to provide sustainable solutions to the current challenges facing the country, Nigerians should also work hard to provide for themselves.
The first lady maintained that the government will do all it takes to ensure that Nigerians are not disappointed and called for patience with Tinubu’s administration.
Mrs Tinubu said: “There is no food for the lazy man; even God worked for six days and rested on the seventh day.
“Nigeria is a land that’s flowing with milk and honey, but we need to sustain it for generations to come.
“God has richly blessed my family before getting to the presidency and we are content with what we have.
“What is happening in the country, we are just two years into our administration, we are not the cause of the current situation. We are trying to fix and secure the future.
“I have embarked on several journeys but it seems that people are not seeing what God is doing in the land. Nations across the globe want to do business with us, legally, on the table. There is a government in power now that they know it is accountable.
“We are trying all our efforts to ensure that the economy is stabilised and the masses are living meaningful lives since the removal of fuel subsidy.”
xmasgift: All the internal and external enemies of Nigeria shall be put to unimaginable shame. . All saboteurs and their sponsors will be disgraced. Nigeria, as always, shall surmount her challenges and emerge stronger than ever. Amen
Who is a worse saboteur of Nigeria than the man who fought for power, grabbed it and ran with it cluelessly like a headless pig to make everything worse?
Made everything worse that Buhari now seems like a super smart chap.
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.
But before this is done, they should do a referendum to ask Christians in Northwest and Northeast if they are ready to join Middlebelt country.
Also do referendum to ask Yoruba communities in Kwara and Kogi if they want to join Oduduwa.
Do another referendum to ask Igbo speaking communities in Rivers state, Delta state, etc if they want to join Biafra or Niger Delta country.
This is the only way to restore lasting peace.
If these 5 new countries now decide to form a bigger nation, they can now come to a roundtable and renegotiate the terms and conditions of forming such United nation and also pick a new name to answer.
Why should Middle Belt people want to give their land to other people, even if they are Christians from northeast and northwest?
Don't we have INTRA ethnic clashes in all the six regions of Nigeria
Burob: Padi Padi government, Tinubu’s former adc is now the IG of police today, the other one is the Oniru of Iru kingdom.
Let anyone tell us where Gringory Obi’s adc is, bet u na suffer head them dey inside today, Agulu selfish self centered man, no go do anything for them.
If Jagaban is not the most selfish person on earth then why is he raising trillions in IGR and budget from Lagosians yearly but failing to employ workers to make water available to all households?
If city boy is not the most wicked politician then why did he hike petrol price instead of crashing it as promised?
Do you actually know what selfish means? Or maybe you are just too selfish yourself to see it in leaders looters like Tinubu
Deltafirstson: Although the pump price of fuel was N197 when President Bola Tinubu took over on May 29, 2023, the product now sells for N617 per litre – less than two months after.
In his inaugural address, Tinubu announced that subsidy was gone, fulfilling a promise that all leading presidential candidates made during the campaign.
Nigerians have been lamenting the hardship occasioned by fuel price hike. Amid the lamentation, a video where Tinubu campaigned to slash the price of fuel went into circulation.
Checks by Daily Trust affirmed the authenticity of the video uploaded on the YouTube page of Channels Television.
At his campaign rally in Abeokuta, Ogun State capital, on January 25, 2023, Tinubu spoke on a number of issues, but those of fuel scarcity and naira redesign made the headlines.
However, Tinubu who spoke in Yoruba language, also assured the crowd that though people were saying petrol price would hit N200, it would be reviewed downward under him.
“The great Nigerian youths, the great Nigerian students, the confident Nigerian youths. This is a revolution. This election is a revolution. They are plotting, but they will fail. They said fuel price will increase and reach N200 per litre. Go and relax, we will bring it down,” he had said in the 7th minute of the video.
Krankhead: Rufai is not a journalist rather a cattle breeder
.....................because Tinubu is not a politician but a cow scout
Highways: Where Are The Cows? Is Evans A Herdsman?'
When Funke Olakurin, daughter of Afenifere leader, Pa Reuben Fasoranti was murdered instead of Bola Tinubu to make sure that the perpetrators were brought to book, he ended up making fun of the death of the young lady by turning everything into tribalism by showing his hates for Igbos.
Tinubu has never spoken against the deadly activities of Fulani herdsmen across the country
The same stand Adeyinka Grandson gave on the death of Fasoranti's daughter is where Tinubu, the leader of the Yoruba Conservatives stands. Please see Tinubu's video below. pic.twitter.com/COhiSvabqW
— Adeyinka Grandson (@deyinkagrandson) July 14, 2019
Mrs Olakunrin died of gunshot wounds in July 2019 after her vehicle was attacked by armed men, suspected to be marauding Fulani bandits whose violent activities had reached a frightening level across the southwest states.
Those arrested suspects include Lawal Mazaje, 40, from Felele area of Kogi State; Adamu Adamu, 50, from Jada area of Adamawa State; Mohammed Usman, 26, from Illela area of Sokoto State and Auwal Abubakar, 25, from Shinkafi area of Zamfara State....
However, the leader of the team, identified only as Tambaya, and three others are yet to be found.
Tambaya has been declared wanted by the police and he is said to be capable of communicating in Hausa, Fulfude and Pidgin English.
toffyz: The guy no be journalist, his major discipline is Plant biology
What is Dangote's major discipline for him to be running a private refinery that was licensed by PDP deregulation and privatisation politicians, as part of the 2012 downstream sector proposal?
Thankfully, PDP did not cancel the private refinery proposal despite wicked APC leaders looters playing politics with 2012 subsidy removal, using pastor Tunde Bakare who was expired Buhari's running mate a year earlier. Otherwise we would be importing all our fuel while APC use propaganda to cover up their mega failures in all sectors.
The Nigerian National Petroleum Corporation has announced that the Port Harcourt and Warri refineries have been successfully re-streamed after a nine-month rehabilitation exercise conducted by its in-house engineers and technicians.
The corporation, in a statement, noted that both plants commenced preliminary production of petroleum products after successful test-runs, adding that while PHRC was ramping up its operation to about 60 per cent of its 210,000 barrels per day capacity, WRPC production was projected to hit 80 per cent of its installed 125,000bpd capacity.
The NNPC said the Port Harcourt refinery was projected to boost the nation’s local refining capacity with a product yield of five million litres of petrol per day, while Warri refinery would contribute 3.5 million litres of petrol.
Providing insight into the rehabilitation exercise, the NNPC noted that it had to adopt the phased rehabilitation strategy after the Original Refinery Builders, who were initially contacted for the project came up with unfavorable terms.
It said, “Though a decision was taken in 2011 to rehabilitate all the refineries using the ORB of each of the refineries, we were impelled to switch strategy after the ORBs declined participation and nominated some partners in their stead who came up with outrageously unfavorable terms.”
The NNPC stated that the nominated partners, as sole-bidders, came up with humongous price offers after two years of thorough and exhaustive scope of work definition and price negotiations.
It added that the proxies were also unwilling to provide post rehabilitation performance guarantees.
The corporation said, “The phased rehabilitation strategy which entailed phased and simultaneous rehabilitation of all the refineries using in-house and locally available resources in line with the spirit and letter of the Nigerian Content Law, also involved the use of Original Equipment Manufacturer representatives to effect major equipment overhaul and rehabilitation.”
The national oil firm said the phased rehabilitation programme, which started in October 2014 after the required funding stream was established, created a 70 per cent reduction in costs which helped largely in mitigating the financing challenges of refinery rehabilitation.
It observed that with the successful re-streaming of the PHRC and WRPC, attention has now moved to the 110,000 barrels per day Kaduna Refining and Petrochemicals Company which was billed to come on stream soon.
saintopus: Dec 06, 2024 The PH Refinery ships its first export of petroleum products to Dubai. The company is expected to load the cargo in the coming days onboard the Wonder Star MR1 ship, signalling the commencement of operations at the plant and the exportation of petroleum products.
The ship will load 15,000 metric tons of the product, which translates to about 13.6 million litres.
Although the volume coming from the NNPC into the global market is still small, the development has the potential to impact the Very Low Sulphur Fuel Oil (VLSFO) benchmarks in the future while changing the market realities for Atlantic Basin exporters into Nigeria and other regions.
The sulfur content of the export by NNPC stands at 0.26 per cent per wt and a 0.918 g/ml density at 15°C, according to Kpler, a data and analysis company.
The cargo was reportedly sold at an $8.50/t discount to the NWE 0.5 per cent benchmark on a Free on Board (FOB) basis.
Kpler reported that the development would help displace imports from traditional suppliers in Africa and Europe, as Nigeria’s falling clean product (CPP) imports are already decreasing, dragging imports into the wider West Africa region lower as well.
Pakute: Onanuga further defended Bola Tinubu’s presidency, stressing that God gave him power.
He wrote, “Arise TV should be ashamed of you. Because you want to please the mob that follows you, you are always eager to publish any nonsense, even when clearly so.
“The result sheet you singled out for your mischief spelt out the APC votes. It showed the total votes recorded at the polling unit. And the votes recorded for APC was not at variance with the total score.
I expect you to have outgrown your pathological hatred for our party, since May 2023, when Almighty God gave power to President Tinubu.”
Bayo should tell us which of the leaders looters, (including Abacha) that we have had in the last 66 years was not given power by Almighty God?
The Abacha that JagaBandeet romanced for a while before he became a NADECO activist to hide his drug business.
anonimi: My dad, victim of complex conspiracy – Kola Abiola
What role did Bola Tinubu play in all of these?
At the very beginning, he was part of the Yar’Adua PF group from Jos. He was a senator then, and as far as the group went, we related. The crisis started post-election. When Abacha came, one of the things he wanted to do was to be the administrator for Lagos.
That is Tinubu?
Yes. I am sure you have seen pictures of him and my dad. He was hoping that there would be civilian administrators like we had under IBB but Abacha said no, that he was going to have military administrators. So he (Tinubu) said okay, in that case, can I be a deputy administrator? But Abacha said that there wouldn’t be deputies. Then he wanted the post of a commissioner.
He wanted to be a commissioner?
Yes. Then it was a choice between him and someone very close to Jakande who has passed on now. I can’t remember his name, but because Babagana was already in the government, that guy was picked as commissioner. But really, Senator Tinubu had lost out already.
Was Tinubu very close to MKO?
Yes, he was close enough. He and Adeniyi Adele, a very good guy, were close to my father. In fact, Adeniyi was closer to my father and more dedicated to the process than anyone of them. When my documentary comes out, you will see Tinubu’s take on issues. So once he lost out, automatically, he became a NADECO member and Adeniyi was incarcerated.
SixSeven: He too wasn't clean. Let's ask ourselves, how come it was working to a reasonable extent under Fashola and it stopped under Ambode. Ambode stopped a working process to bring in a firm to come do IT in Nigeria. A huge problem of our leaders is selfishness.
They don't understand the call to serve, they just want to be able to chop in contracts. That contract was a disaster, so Ambode eventually worsened the problem. There is something called change management. Our leaders act like dem no go school.
Since we are selfish Nigerians, why should we be surprised that the most selfish among us emerge as leaders looters
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