₦airaland Forum

blueto:
Doltish trash.

But there is an even deeper reason for why Nigeria is experiencing this unprecedented economic recession and that is that even when President Buhari eventually came around to constituting his cabinet, he peopled it with individuals whose capacity to deliver the goods is at best suspect.

Let me elucidate this with a statement made by President Buhari’s minister of sports and broadcast on Channels television today Tuesday the 20th of September, 2016.Said Mr. Solomon Dalung, ‘the disabled athletes have shown that all you need is a winning mentality and not too much preparation.’

Can you imagine that coming from a minister and member of the federal executive council?

But why should we be surprised? Nigerians are witnesses to the utterances of the minister of information, the aptly named Lai Mohammed, who blamed any good thing that happened in Nigeria immediately after President Buhari’s inauguration not on any form of preparation but on the President’s ‘body language’.

Early rains fell in obeisance to the President’s body language. Barren women became fertile as a result of President Buhari’s miraculous powers of non verbal communication. All kinds of orishirishi were attributed to body language.

One wonders where the fabled ‘body language’ was when it came to fighting the recession.

The truth is that preparation, pure preparation (that word that Mr. Dalung and other operatives of this administration hate to hear) is the only thing that can increase the likelihood of success in any venture including governance. As it is commonly said ‘those who fail to plan, plan to fail’.

And the reason why Mr. Osinbajo and his co travelers will continue to shift blame from individual to individual is because they do not have the strength of character to accept responsibility for their actions.

At this juncture, it will be pertinent of me to remind Lai Mohammed of his words uttered on the 25th of May, 2014 when he said ‘a government that is unwilling to take any responsibility for anything, should not be counted upon.’ Right back at you Mr. Mohammed, right back at you!

President Buhari has to quickly learn that the more you blame others, the more power you surrender. The more you accept responsibility, the more power you take.

Early in 2015, Pastor Osinbajo called then President Jonathan’s administration a ‘visionless’ government. I would like to define the vision of change that Mr. Osinbajo and his boss promised us based on what we have seen so far.

Mr. Osinbajo’s vision for change is defined as a sports minister who believes athletes do not need training,a finance minister who thinks recession is just a word, a science and technology minister who aspires to produce pencils in two years,an information minister who wants to generate jobs via masquerade dressing, an interior minister who uses his security to publicly shine his shoes rather than secure the interior of his country, an agriculture minister who fights for land for cows instead of farmers, a labor minister who threatens banks with revocation of license when they retrench workers due to bad economy, a communications minister who wants us to pay 9% tax on calls, a transport minister who gives one President credit for a railway built by another President, an economic adviser who wants women to donate their jewelry to help government fight recession and a Presidential spokesman who believes critics are ‘wailers’ all led by a President who believes#ChangeBeginsWithMe not him, though he was the one who promised it!

Omoakinsuyi:
Yes good move. So many obsolete national assets that can be sold. But my fear is hope thWY won't use the proceeds to maintain presidential jets or sponsor their children to another UNGA

Governors have expressed support expressed support for the plan proposed by the economic management team to steer the nation out of recession.

The economic team has proposed the sale of some of the nation’s assets to resolve the current economic crisis.

The governors made this known while briefing reporters at the end of the National Economic Council (NEC) meeting‎ ‎presided over by Vice-President Yemi Osinbajo.

The NEC is an advisory body on the economy, comprising of all 36 states governors and the Central Bank governor.

Atiku Bagudu, governor of Kebbi state, said the management team briefed NEC that it was working on plans to “generate immediate larger injection of fund into the economy through: ‎asset sales, advance payment of license renewals, infrastructure concessioning, use of recovered funds to reduce funding gaps”.

He added that the team also spoke on implementation of fiscal stimulus/budget priorities, fast-tracking procedures through legislation and implementation of strategic, implementation plan (SIP) of the budget, meaningful diversification of the economy and cutting down on importation.

“Council members in response commended the economic management team and generally welcomed the presentation and expressed support for the plan to steer the nation out of recession,” he said.

Abiola Ajumobi, governor of Oyo, said the council was briefed on the land use act of 2013‎, which seeks to make provisions to streamline mortgage transactions and clearly delineate the rights, duties and obligations of a mortgage.

“Other aspects of the draft are: conditions for disposal of proceeds of sale and subsequent mortgages and implied terms of a mortgage; rights of redemption and remedies and issues on mortgage by companies; power of assignment by mortgage and right of transfer and application of insurance money by the receiver”.

Ajimobi added that Kemi Adeosun, minister of finance, briefed the council on the Public Private Partnership ‎ (PPP) initiative on affordable housing.

‎”Target of N1billion fund to operate PPP (N500 billion initial) to create a blended pool of long term funds to intervene in housing development finance and mortgage provision,” he said.‎

“Funds aims to deliver family housing priced from as low as N2.5 million up to N18 million delivered in a ready to occupy condition with essential services (water and power connected)

“The delivery target is 400,000 to 500,000 housing units per annum. ‎The ultimate aim of the programme is to channel funds from savers to borrowers, so that builders have the required capital to construct and prospective buyers can access credit to purchase.
‎

“The fund will attract low cost local and international capital, including from domestic pension and insurance funds, FG funding, as well as contributions from State Governments and other agencies.”

On her part, Yetunde Onanuga, deputy governor of Ogun, said Adeosun reported to the council the balance in excess crude account in US dollars, which stood at $2.453 billion as at September 2016.

“Also at the council meeting another presentation was made on best options for managing the flow train forex policy introduced by the Central Bank of Nigeria,” she said.

“This was a joint presentation by the Governor of Central Bank and the Minister of Finance, the highlights are that the CBN should introduce special monetary policy in the nation as dictated by consumer price and exchange rate.”

giantstrides:
The call for true federalism is growing, but the federal government find it so hard to restructure the country, what are they so afraid of ?

Lalasticlala, Mynd44

kenonze:
What is there in true fedralism that no sitting president is actually interested.

True fedralism so that greedy Governors will have more teeth to bite.?

Let the LGAs also control their resources and pay taxes to States which in turn pays to the federal government.

Senators on Thursday opposed their President, Dr Bukola Saraki, kicking against the call for the sale of some national assets.

Many of the senators, who contributed as the debate on the recession in the country continued in the upper chamber, blamed the elite, including some lawmakers, for the economic problems of the nation.

Some called for the restructuring of Nigeria’s federalism while others called for a review of some fiscal policies, including the Single Treasury Account (TSA).

Leading the debate, Deputy Leader of the Senate, Bala Na’Allah, called on the government to reconsider its policy on TSA and its policy on domiciliary accounts.

He admitted that the intention for making the policies may have been germane, they were unfortunately affecting the economy adversely.

He said that the TSA policy had stifled the banks and as such, money was no longer circulating in the economy through loans, mortgages and other means.

“The President has good intentions but we have a few people who are not thinking correctly.

“I recall that I complained when the CBN stopped operation of domiciliary accounts within and outside Nigeria.

“These two decisions must be revisited and redirected to ensure that there is a platform for redistribution of income.

“The two critical decisions of fighting corruption should be revisited,” he said.

Sen. Andy Ubah decried the call for sale of national assets, describing it as wrong.

“If we sell our assets now to recover from this recession, what would we sell in the future if we ever slipped into another recession?

“We must seek an alternative way of recovering from this recession but sale of our assets is not the way out,” Ubah said.

[b]The Majority Whip, Sen. Olusola Adeyeye, insisted that the nation must be restructured along the line of true federalism.

According to him, the states cannot keep coming to the federal to collect money while ignoring available resources and potentials in their states.

“Many have asked that we must restructure and I agree that we must restructure.

“If we restructure properly at least there will be a few places where stealing will not be going on at the same time. There will be some modest of exception that we can say what have they done right.

“I want us to look at this current constitutional review, the various exclusive lists and the various concurrent lists; let us look where we have over-burdened the Federal Government.

“If we must revitalise the economy, we must have jobs and projects going in every local government, every federal constituency and every senatorial district of this country.

“Let us begin to implement the zonal intervention projects,’’ he said, adding that the bitter truth was that people in government also contributed to the problems.

“If we will save Nigeria we must reduce the cost of governance. Nigeria’s estacode is the highest in the world; we must slash it to 50 per cent.

“Obafemi Awolowo campaigned in 1978 that he was going to slash it and it has now grown into five times what it was in those days; we must slash it.

“When you go to our airports and you park your car, you pay N300; that is 75 cents, but in all modern economies you pay per hour.

“If we are going to find money we must become creative.

“All of you with houses in Asokoro, Maitama and Apo and you don’t pay tenement rate; all of us must pay,” he said.
On his part, Sen. Sunny Ugboji, supported the need to restructure Nigeria “to enable it to operate true federalism’’, saying that states could not continue to come to Abuja to share the national treasure without producing something.

He condemned all persons who kicked against the past administrations when they wanted to save money for the country.

“When the last administration wanted to save money, many of the people who kicked against it are now part of this present administration.

“We must restructure Nigeria: restructuring doesn’t mean disintegrating but just to help every state to tap their potentials and this will help Nigeria too.

“Naira should be allowed to float, floating the Naira would make it impossible for people to get waivers to buy dollar at 197 when it is higher in the open market,” Ugboji said.

Kicking against call for sale of the nation’s assets, he said that there was need to cure the systemic corruption in Nigeria.

He, however, warned that Nigerians must not be portrayed as thieves as corruption was not peculiar to the country.
“Those who are canvassing that we should sell our assets are getting it wrong; we have sold some of them yet we are still here,’’ the lawmaker said.[/b]

Lalasticlala, Mynd44

hustlengetpaid:
good english i agree with you but beauty not with that flat nose of hers

“The minister for finance can do much better in another ministry. At this critical time we need somebody who is more experienced to man the ministry of finance so that he will be able to coordinate the strategies for this recovery,” Ekweremadu said.

Also, as part of medium and long terms measures, Ekweremadu advocated for the restructuring or unbundling of the current federal government, improved anti-graft strategies, diversification of the economy, provision of social safety net, and cautious sale of national assets.

At the end of yesterday’s sitting, 24 senators had so far contributed to the debate which continues today. The far-reaching recommendations by the lawmakers include power devolution, granting of autonomy to states and local governments, sale of non-performing assets, renegotiation of agreements with oil majors to free resources for development, and confidence building to attract Foreign Direct Investments (FDIs).

Others are restructuring of the polity, direct engagement of the people by President Muhammadu Buhari as against the town hall meetings being held by ministers, cabinet reshuffle and constitution amendment to empower the federal government to save a percentage of the nation’s revenues for the rainy day, among several other recommendations.

The Senate is expected to, at the end of the debate, take an official position on how to salvage the economy and forward same to the executive arm of government.

Meanwhile, according to a statement by the special adviser on media to the president, Femi Adesina, the president said, “These are no doubt challenging times for the Nigerian economy. But let me use this opportunity to boldly affirm our conviction that there is no crisis without an accompanying opportunity. In our case, we see Nigeria’s ongoing economic challenges – occasioned mainly by the fall in oil prices – as an opportunity to set the economy firmly on the path of true diversification, sustainable economic growth and shared prosperity.”

The president said that the reform measures taken by his administration since inception in 2015 had started yielding good fruits, especially in the areas of security, anti-corruption and revamping the economy.

He said the priority investment sectors for his administration now are improving infrastructure, industrial productivity, agriculture, mining and digital economy where “young Nigerians are increasingly demonstrating that they have the talent and the passion to leverage.”

The Nigerian leader said that the Presidential Enabling Business Environment Council, headed by Vice President Yemi Osinbajo, will soon come out with wide-ranging business environment reforms on ports, visa-on-arrival, improving the speed and efficiency of land titling and business registration. Some fiscal incentives, he noted, include up to five years tax holiday for activities classified as “pioneer,” tax-free operations and no restrictions on expatriate quotas in Free Trade Zones, and a low VAT regime of five per cent.

“We intend to make Nigeria one of the most attractive places to do business,” he declared, even as he noted that Nigeria remains the number one investment destination in Africa.

President Buhari added that his administration will continue to strengthen government institutions in order to address the concerns of investors and ease the processes of making investments in the Nigerian economy.

“We are weaning ourselves from a historical dependence on crude oil, diversifying our economy, and putting it on the path of sustainable and inclusive growth. To this end, we have embarked on policies aimed at establishing an open, rules-based and market-oriented economy.

“We will continue to actively engage with the private sector at the highest levels, to listen to your concerns and to assure you of our commitment to creating enabling policies in which your businesses can survive and thrive,” he said, urging participants to “take advantage of this Forum to establish and strengthen business relationships, share valuable experience and collaborate for mutual benefits.”

President Buhari stressed that enormous potential exists for foreign investment and for the local economy, and listed sectors which have barely been exploited to include Nigeria’s 180-million population and abundance of labour, arable land, forest waters, oil and gas, solid minerals, livestock and huge tourist potential.

On United States/Nigeria business relations, he announced the commencement of the US-Nigeria Commercial and Investment Dialogue with focus on infrastructure, agriculture, digital economy, investment and regulatory reform to be jointly led by the Nigerian minister of industry, trade and investment and his US counterpart.

President Buhari said that after the Business Forum, he looked forward to increased trade and investment flows between Nigeria and the United States.

Barely 24 hours after the Senate reconvened and recommended to the federal government to sell some national assets to raise funds as one of the ways to bring the country’s economy out of the woods, some Senators yesterday took a different position.

This happened as President Muhammadu Buhari, while addressing a large gathering of political and business leaders from the United States, Africa and other regions of the world at the Second United States-Africa Business Forum in New York, yesterday, organised by the United States Department of Commerce and Bloomberg Philanthropies, said the country’s economic recession is an opportunity for Nigeria to diversify its economy, achieve sustainable growth and prosperity.

The president also assured potential investors that Nigeria would soon be one of the most attractive places for investment as his administration had embarked on significant economic reforms to realise that goal.

Senate President, Bukola Saraki, had while addressing plenary on Tuesday, listed measures to be taken by the executive to turn the economy around. One of the recommendations was the sale of some of the countries assets, including the Nigeria Liquefied Natural Gas (NLNG) Holdings, sale of government’s stakes in the African Finance Corporation and the privatisation and concession of major/regional airports and refineries.

But at resumption of plenary yesterday, some of the senators averred that no country ever sold its assets as a way out of economic recession.

Deputy Senate president, Ike Ekweremadu, during the debate on the state of the economy, led the pack of Senators who argued that sale of national assets was not the way out.

He cited an example of the United Arab Emirates (UAE) which according to him, “does not even allow you close to oil wells let alone sell them.”

“For a country like Saudi Arabia, its budget each year is run by investments from oil revenue. Other countries are investing; I am sure we will not be fair to the next generation if we sell off our assets. If we must sell, we have to sell the non-performing assets so that people can turn them around and create employment,” Ekweremadu added.

The deputy Senate president further pointed out that the economic recession had buttressed the importance of savings, and called for amendment of the revenue sharing formula between the federal and state governments to encourage savings.

“We need to amend section 162 especially from 3,4,5,6 where each money in the federation account is made to be shared,” he said.

He also called on President Buhari to re-jig his cabinet by putting square pegs in square holes especially in the area of economic management, and particularly identified the duo of the Minister of Budget and Planning, Udoma Udo Udoma, and his counterpart in the Ministry of Finance, Mrs Kemi Adeosun, as knowledgeable people but unfit for their current positions, given their professional backgrounds, saying that they are rather better suited for other ministries.

“The president needs to look at his cabinet. He has to put square pegs in square holes. Your excellency, distinguished colleagues, Udo Udoma is my friend, an accomplished lawyer for that matter but in fairness to him, I believe he can do better in another ministry especially like Trade and Investment, certainly not Budget and Planning.

“The minister for finance can do much better in another ministry. At this critical time we need somebody who is more experienced to man the ministry of finance so that he will be able to coordinate the strategies for this recovery,” Ekweremadu said.

In his contribution, Senator George Akume cautioned those making calls for sale of assets

He said rather than opt for sale of its assets, the country should focus on recovering stolen funds.

“If we want to sell our oil assets at this time when the price of oil crashed, how much are we going to realise? We are making a mistake here; what we are doing is to ensure that those who are within the bracket of the stolen dollars will still come to buy,” he pointed out.

He suggested industrialisation through agriculture as one way out and also advocated the review of the revenue sharing formula to encourage savings, saying states should not insist on sharing revenue.

But Senator Shehu Sani, in his presentation, disagreed with the deputy Senate president, saying that removing both Adeosun and Udoma was not a solution to the biting economic hardship.

Sani said instead of swapping ministers, there was the need to chart a new national direction. He also decried the over-dependence on oil as the only source of revenue for too long, saying there was the need for urgent diversification of the economy.

The Kaduna lawmaker noted that it was high time interest rates were cut and small scale industries were supported to produce goods for exports, adding that the current “sharing formula federalism” led the nation to the present dire situation confronting Nigerians today.

On his part, Senator Dino Melaye called for the sack of non-performing ministers.

Earlier, the Senate Leader, Senator Mohammed Ali Ndume, who opened the discussion by giving his colleagues a general overview of the situation, said the current recession was not peculiar to Nigeria, adding that the country is just one of the 15 oil-dependent countries of the world experiencing same.

“This is a global phenomenon that is not only affecting our country but all countries dependent on oil,” Ndume said, even as he blamed the immediate past government for the economic crisis, by not leaving anything behind in the nation’s reserves.

Ekweremadu, in his presentation, had also offered what he called short-term, medium and long term strategies as panacea for the situation.

According to him, these include the injection of money into the economy by the government; usage of the monies that have accrued to TSA as well as about N3 trillion recovered loot; re-negotiation with oil majors on terms of engagement in the industry; confidence-building and change of attitude, among others.

Ekuru:
Tyrant (Nigeria version)

ificatchmodeh:
Bubu lying to himself

Lalasticlala, Mynd44

Billygee2u:
northern agenda unfolding

HungerBAD:
Sauce?Socks?Source?Sucks?

President Muhammadu Buhari has, at the U.S.-Africa business forum, said that his administration would ensure that “Nigeria does not slip back into a lazy and dangerous dependence on the price of crude oil” again.

Buhari who expressed optimism that “Nigeria is on the rise” said that his government has set an enviably workable modalities to drive the economy out of recession and reposition the country and Africa as a destination point for every investor. Below is the full speech on Bloomberg, titled “Making ‘Africa Rising’ a Reality in Nigeria.”

Until a few years ago, Africa Rising was a dominant theme in conversations about the global economy. That enthusiasm has since cooled, so that in newsrooms and think tanks and conference panels, “Africa Rising!” has given way to a more questioning “Africa Rising?”

While some of that pessimism may be justified, we do not have the luxury of distracting ourselves with lamentations about our current circumstances. Instead of hoping for commodity prices to rise, African countries should seize the opportunities that these times present — not least here at today’s U.S.-Africa Business Forum — to lay a foundation for the kind of economic growth that transforms the lives of our people.

One of our biggest challenges during the boom years was that we failed to convert the benefits of high commodity prices into more jobs and significant improvements in standards of living. Hence the great debate, during those years, about how to ensure that the growth became “inclusive.”

Now that we are face to face with the vulnerabilities somehow hidden during the years of plenty, we should turn away from the unhelpful habits of the past and chart a new course. Since I signed the 2016 budget into law in May, Nigeria’s Ministry of Finance has released more than 400 billion naira for infrastructure spending — more than the total amount spent in 2015.

In the face of dwindling oil revenues, we are turning to debt. We have begun raising a $1 billion Eurobond, our first in three years. We are also raising debt from the World Bank, the African Development Bank, the Chinese Ex-Im Bank and other development finance partners.

Unlike in the past, when borrowed funds were frittered away on unproductive ventures, we will ensure their investment in the revival of stalled road, rail, power and port projects, and in agricultural initiatives that will significantly boost domestic production of food. For far too long we have under-invested in infrastructure — the most critical element for creating sustainable economic growth. The net effect: an avoidably high cost of doing business in Nigeria.

But even more important than what the government is able to spend is the limitless investment potential of the private sector. This is why one of our main priorities is creating an environment in which private-sector capital can thrive. We are in particular using Public-Private Partnership models to support game-changing private-sector projects in power, refining, gas transportation and fertilizer production.

We are also putting in place measures to ensure that monies intended to revamp our infrastructure do not end up in the pockets of corrupt officials and their collaborators. Already we are investigating the theft of several billion dollars in public funds by the previous administration. We are not only bringing these corrupt officials to justice, we are also setting up systems to make it impossible for such a grievous abuse of public trust to happen again.

And of course, we are as committed to playing by the rule of law as we are to accounting for every naira and recovering them for our treasury. These were funds meant to build roads and railway lines and hospitals and schools, and to equip our military — which has for the last seven years been fighting one of the deadliest terrorist groups in the world.

In that regard, we are already seeing the positive results of our anti-corruption efforts. Long starved of both materiel and morale by the corruption in the military’s upper echelons, our reinvigorated troops have now put Boko Haram permanently on the back foot. Some of the more than 2 million persons displaced by Boko Haram have started returning to their homes. Just last week, the people of Nigeria’s northeast celebrated their first incident-free Eid in years.

Our troops have rescued thousands of men, women and children trapped in areas held by Boko Haram. To meet their urgent humanitarian needs, we are working with the United Nations and other partners to provide food, medical help and shelter. We will strive to ensure that no victim is left behind, including the 219 Chibok girls who have, since their abduction in April 2014, served as a global symbol of the war against Boko Haram and a reminder of the horrors that it has inflicted on innocent Nigerians.

Even though the times are still dire, our economic recovery plan is already showing positive results. Investment’s share in gross domestic product is at its highest since 2010. Inflation is slowing; manufacturing confidence is rising. People are seeing and seizing opportunities to make money catering to the needs of Africa’s most populous country.

Finally, our Social Investment Program — the most ambitious in Nigeria’s history — will kick off this month. In its first year it will provide cash transfers to 1 million of our poorest people, hot meals to 5 million primary-school children, cheap loans to more than 1 million artisans and traders, and job opportunities in health care, agriculture and software and hardware development for half a million young people.

The journey ahead remains long and difficult. Our double-digit inflation, currency turmoil and downgraded ratings will not vanish overnight. We also know that the current recession is partly driven by the production outages in Nigeria’s Delta region, and we are confident that growth will accelerate as problems in that region are resolved.

But the real story here is not the challenges, which are all too visible, but the opportunities. We have learned the necessary lessons. We will ensure that Nigeria does not slip back into a lazy and dangerous dependence on the price of crude oil. We will continue to insist on transparency and accountability in the use of government funds. And we will build an economy that prioritizes the ease of doing business and investing, and that thrives on the entrepreneurial energy and ingenuity of our people.

To achieve these objectives, Nigeria needs robust and reliable partnerships such as we have with the United States. This is why I value the Commercial and Investment Policy Dialogue that we have just launched, and which we shall announce at today’s U.S.-Africa Business Forum.

The months ahead will show not only that Nigeria is on the rise, but that this “Rising” is real and lasting — one that touches not just the statistical databases, but the lives of the people who elected us to deliver positive change.

[size=13pt]The house of representatives on Wednesday went into a rowdy session after Yakubu Dogara, the speaker, recognised Emmanuel Oker-Jev, chairman rules and business, to move a motion just as another member Aliyu Madaki was putting up his hand to be recognised.[/size]

The speaker recognised Oker-Jev, who moved his motion in the midst of heavy noise on the collective breach of members due to the budget padding allegations raised by Abdulmumin Jibrin, former chairman of the committee on appropriations.

He said the house had come under heavy attack by the allegations.

At that point, Jibrin was observed to be walking around the chamber under the close watch of the sergeant-at-arms.

The motion was however passed and referred to the ethics and privileges committee, which would look into the matter.

At this point, members began shouting “Dogara, Dogara.”

When Madaki was recognised to speak, he was barely heard, as scores of lawmakers were screaming all at the same time.

realestniggah:


in warri where i come from this is how we dodge bullet

[img]http://i./twpYnBnUobHRm.gif[/img] [img]http://i./ZGuCTJqQxefrq.gif[/img]

realestniggah:


lalasticala and boob sha..

lalasticala right now with his Vaseline

[img]http://i./yhllKeRYgQOcM.gif[/img]

A report by News Telegraph suggests the federal government of Nigeria has concluded plans to sell the nation’s critical assets in order to raise $15 billion to rescue the country out of economic recession.

[size=14pt]Sen. Udo Udoma:[/size]

The report quoted the minister of budget and national planning, Senator Udoma Udo Udoma, confirming the plan at a cabinet retreat hosted at the presidential villa, Abuja.

The federal government has been under pressure for a while to sell of some its assets to raise money to tackle Nigeria’s financial crisis.

[size=14pt]Alhaji Dangote:[/size]

Three days ago, Africa’s richest man, Alhaji Aliko Dangote, joined the calls as he advised the government to embark on a wave of asset selling to boost Nigeria’s recession-hit economy.

This past weekend, Central Bank of Nigeria (CBN) governor, Godwin Emefiele, joined in the calls.

His words: “In the short run, we can sell assets. Before the government came on board, I had opined that there was need for the government to scale down or sell off some of its investments in oil and gas, particularly in the NNPC and NLNG as at that time when the price of oil was around $50-$55 per barrel.

“We actually commissioned some consultants that conducted the study and, at the end of that study, we were told that if we sold 10% to 15% of our holding in the oil and gas sector, we could realise up to $40 billion.”

[size=14pt]Sen. Bukola Saraki:[/size]


Yesterday, September 20, Senate president Bukola Saraki, at the resumption of the red chamber’s plenary, urged President Muhammadu Buhari to sell some important national assets as part of efforts to boost the country’s dwindling foreign reserves.

Senate President Bukola urged President Buhari to go ahead and sell the assets

His words: “The executive must raise capital from asset sales and other sources to shore up foreign reserves. This will calm investors, discourage currency speculation and stabilise the economy.

“The measures should include part sale of NLNG Holdings; reduction of government’s share in upstream oil joint venture operations; sale of government stake in financial institutions e.g. Africa Finance Corporation; and the privatization and concession of major/regional airports and refineries.”

NAIJ.com lists 6 key assets that are being considered for sale.

Read below:

1. Government shares in Joint Venture Companies (JVCs)

2. Government shares in Nigeria Liquefied Natural Gas (NLNG)

3. Some aircraft in the presidential fleet

4. Kaduna refinery

5. Warri refinery

6. Port Harcourt refinery

Enugu State command of the Nigeria Police Force has arraigned a herdsman, Ibrahim Adamu before an Enugu magistrate’s court. Adamu was recently arrested with AK 47 riffle and some ammunition on August 29 at Affa in Udi local Government Area of Enugu State.

He was arraigned on a three count charge for illegally possessing and having under his control Ak 47 rifle with 24 rounds of live ammunition in contravention of the firearms Act and thereby committing an offence contrary to section 6(a) and punishable under section 3(1) of the Robbery and Firearms (special provision) Act Cap.R11 vol.14, laws of the Federation of Nigeria 2004 amongst other count charges.

A release from the police said that the suspect was arraigned at Court 1 in Enugu East headed by D.K Ekoh, a chief magistrate grade 1, and was later remanded in prison custody.

New York—President Muhammadu Buhari has said the anti-corruption campaign of his administration and the economic programme of diversification will significantly address the lack of job opportunities and deprivation that make Nigerian youths vulnerable to recruitment by human traffickers.

The President said this in New York at the meeting on Modern Slavery hosted by the Prime Minister of United Kingdom, Theresa May, on the margins of the 71st Session of the United Nations General Assembly (UNGA71), at the residence of the United Kingdom Permanent Representative to the UN.

“We are also investing more on infrastructure development, education and health for our people. When the results of our efforts become manifest, the attraction of seeking greener pastures abroad will lesson,” he declared.

A statement made available to Vanguard, by the Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, yesterday, said that Buhari commended the British Prime Minister for drawing the attention of the international community to such a serious matter, to coincide with a time the global focus was on migration and refugee crisis.

He, therefore ,called for practical and innovative measures [b]“to address all modern day human tragedies.”

The President noted that “more worrisome is the fact that human trafficking and modern day slavery have created a dangerous political economy of their own. In consequence, this international criminality is defined by the activities of human traffickers that lure unsuspecting victims into forced labour, inhuman treatment, money laundering and prostitution.”

He said Nigeria “is ready and willing to partner with other countries and international organizations to confront this phenomenon. We have a strong commitment to combating the menace of modern slavery, and will redouble our efforts to prohibit human trafficking, while providing succour to its hapless victims.”

President Buhari assured his audience “to count on the support of Nigeria in dealing with this evil, which constitutes an unacceptable stain on human dignity and conscience in the 21st century.”

On measures taken by the country against the evil practice, he said the National Agency for the Prohibition of Trafficking in Persons, NAPTIP, and the Nigeria Immigration Service had taken steps to establish a joint operational Working Group to combat human trafficking and smuggling of migrants from the country.

“We are aware of the challenge for Nigeria, but our resolve to combat it is strong and unshakable,” the President declared.[/b]

deesdee:
Or travelling with over 200 Participant to US.

timad3:


you be Banker abi?

you be Banker abi?

johnwizey:
12mins ke, i can do all that within 5mins

sarrki:
We don't even have enough for anyone to come and sit

Doing nothing

Let us cut cost

Or you call it

Cost savings

sarrki:
Comfirmed Wailer spotted.

By there words we know them