₦airaland Forum

ki02020:
But it is most likely that the falsehood is from them

ziky2010:
Thieves.Is Amosun there?

Elchappo:
as if this realignment will bring down the price of garri...

Guardian: [size=14pt]It’s worth five mini-refineries, say experts [/size]

Nigeria spent N958.3 billion importing Premium Motor Spirit (PMS), also known as petrol, in five months. This amount could build five 20,000-barrels-per-day mini refineries, industry experts, who argued that one of such refineries would cost government between $75 million and $250 million, said yesterday.

In naira terms, higher expenditure on petrol imports gives impression of worsening foreign exchange position for the country and emphasizes the need to activate the country’s four idle refineries, Francis Ogbimi, a Professor of Technology Management at the Obafemi Awolowo University, Ile-Ife said.

The new petrol imports, according to the National Bureau of Statistics (NBS), represents more than 120 per cent increase five months earlier and an increase of more that N80 billion within the same period last year.
Nigeria could become self-sufficient in petroleum products by building 10 more refineries, and creating learning infrastructure, as Japan did, to promote rapid competence-building growth and industrialisation, Ogbimi said.
This is despite the difficulties in sourcing funds to service the national budget.

The NBS stated that the Federal Government’s imports of PMS between January and April this year was N431.6 billion and that the country had imported about N874 billion worth of petroleum products during the same period in 2015.

NBS’ data showed that Nigeria imported about N254.6 billion worth of Automotive Gas Oil (AGO) in the same period compared to N118.7 billion products in the previous quarter.

The value of imported Household Kerosene (HKK) also increased from N20.2 billion to N25.5 billion in the current period under review.

The rising fuel imports had put additional pressure on the country’s foreign reserves and contributed to the worsening economic situation.

Government has been unable to fix the refineries, forcing the country to rely on importation for about 95 per cent of its fuel consumption needs.

Director of the Centre for Petroleum, Energy Economics and Law at the University of Ibadan, Adeola Adenikinju asked government to privatise the refineries.

He identified government’s continuous interference in commercial aspects of the downstream sector as major hindrance to the sector.

“I do not think government can wave any magic wand to make the refineries work at internationally acceptable capacity utilisation level. My preference is that the refineries should be privatised and the private sector should be encouraged to take over both the risk and returns associated with the market economy.

Adenikinju said that as a wasteful asset, petroleum should be integrated with other sectors mainly in terms of forward linkages. “Over 6,000 products are derivable from petroleum products. These can form the basis for developing petrochemical industry, fertilizer and ammonia industry, support the power sector.

“We must get our other sectors to continue to play their own roles in revenue generation and employment creation. However, the paradox is that while these sectors are contributing to value addition, they are not making proportionate contribution to government revenue and foreign exchange earnings.”

But Ogbimi argued that the so-called deregulation and privatisation policies of government are based on importing petroleum products.

“Did America become a world power by importing everything from Britain? Did Japan become the second biggest economy in the world by importing everything from Britain and America? Shallowness in reasoning has wasted the first 55 years of Nigeria’s independent life. We need to change our pattern of reasoning”, he added.

Government yesterday said it was doing all within its powers to ensure local production improves.

Annie939:
I bought one today

Preca:
kcee more grease to ur *****

tiwaz:
President Muhammadu Buhari on Friday inaugurated the governing boards of three parastatals of the Ministry of Petroleum Resources, they includ

The Parastatals include;

1. Nigerian National Petroleum Corporation
2. Nigerian Content Development Monitoring Board
3. Nigeria Nuclear Regulatory Authority.

http://www.ngyab.com/2016/11/president-buhari-inaugurates-boards-of-nnpc-ncdmb-nnra-photos/

stexsy:
Must his Chief of Staff join every photo session?
Even if he must join, must he stand by Buhari?

Clueless beings

Asked what happened to the 2008 Gas Master Plan, Kachikwu said: “If the gas master plan was that fantastic how come we don’t have changes in that sector?

“People who did the Gas Master Plan and the Petroleum Industry Bill did a huge work.

FSBoperator:
The first victim of this feud will be that fake ass lying manlet claiming pastor.

Buhari should as a matter of urgency begin impeachment processes in the Senate to remove Osinbajo.

The man has zero political currency and his loyalty is first and foremost to Tinubu and not buhari nor the nation.

Buhari will succeed in dumping that manservant in the nearest redeem church branch because a Saraki led senate will not hessistate to broker one of its members to replace that palace clown.

I say to buhari, start by dumping Osinbanjo. He is no value to you come 2019 and can never garner even his ward in Ogun state to vote your boko ass.

And to make it bjtter-sweet get one loud mouthed Igbo Senator to replace Osunbade.

ItsTheBachelor:
72 hours in my area,and still counting.

Keneking:
Source and where is lalasticlala now sef? Day don break oh....

hopeforcharles:
Hahahhahahahhahaha the pictures guy really killed it,
Sometimes I feel there is no hope for Nigeria, despite that my username connots hope but men I fear for Nigeria's case.
I think we need a REVOLUTION if not things will not change
Mods move this to front page so that all will see the deceit and deception.

The Point: Contrary to news in some quarters suggesting that high-powered moves are being made to get President Muhammadu Buhari, some members of the Executive and the national leader of the All Progressives Congress, Asiwaju Bola Tinubu to settle their differences, the cold war between the parties seems to be gaining momentum.

Information gathered by The Point from security sources revealed that, in the intense power game now playing out on the political turf in the build-up to 2019, Tinubu has been put under security scrutiny with some carefully selected Federal Government agencies “given executive fiat to, as a matter of urgency, commence methodical investigation into both the bank accounts and business concerns of the former Governor of Lagos State.” This, the sources revealed, was part of a broad move by the ‘powers-that-be’ to establish strong cards that could be played up to cut him to size, what with his alleged involvement, as a central figure, in the formation of a new mega-party.

The Point had reported authoritatively, in its last edition, that fresh facts had emerged, linking former President Olusegun Obasanjo, Tinubu, former Senate President Ken Nnamani, a former Governor of Cross River State, Donald Duke, Senator Rabiu Kwankwaso and other bigwigs to a major political realignment that will birth a new mega party to wrest power from the Buhari-led administration come 2019.
The sources added that the development was a fall-out of the unending disagreement between Tinubu and the Executive, and perhaps signals that the tiny political thread still binding him and President Buhari might have snapped.

Corroborating this finding, The Point’s reliable source in the Presidency hinted that some political egg-heads were last weekend assembled in Aso-Villa, Abuja, with an overarching objective to undermine Tinubu’s influence.

Although other outcomes of the meeting were not divulged, the source noted that “it was unanimously agreed that Tinubu should be investigated, with recourse to his stupendous wealth and how he is using same to grow political influence across Nigeria.”
An executive media aide to the Governor of the State of Osun, Erasmus Ikide, also confirmed to The Point that the scheme was very much alive and was being hatched underground.

He wondered why Tinubu, who had worked so hard for APC’s victory at the national level, was being paid back with such moves.
Ikide said, “I am very much aware of the development. The move and the strategies are ongoing underground. But, if I may ask, if anyone does you good to achieve your dream, do you pay him back with evil?
“Tinubu is a force that made possible the coming alive of APC. Why didn’t these people now working against him make Buhari the president in the past, when he contested three times?”

Ikide wondered how someone could go through what Tinubu went through for APC and the country at large, and at the end be pushed aside with the establishment now trying to harass him with DSS.
“I understand the reason for this is the ongoing speculations of him leaving the APC. They should expect war in return,” he said.
A top source within the security circles, who spoke to The Point on the condition of anonymity because of the sensitivity of the subject, hinted that some of the case files being considered for rejig against Tinubu include those from which he had been acquitted in the past.

He said, “Recall that the former Chairman of the Economic and Financial Crimes Commission, Mallam Nuhu Ribadu, had said sometime before the Senate that, prior to his removal, he was actually in vestigating cases bordering on allegations of corruption against some state governors, including Tinubu. “Tinubu had been charged before a Code of Conduct Tribunal, which absolved him of any wrong doing. But Justice Danladi Umar of the CCT later admitted that the Tribunal did not do a wholesome job, saying that it has since realised that the decision it made on the case between the Federal Republic of Nigeria and Tinubu was in error.” The source added, “One of the loopholes being exploited now has to do with illegal operation of foreign accounts, as the Constitution of the Federal Republic forbids public office holders from operating such.
“Tinubu reportedly had 16 of such between 1999 and 2007, all domiciled in both the United States of America and the United Kingdom. And it had been said that Asiwaju did not make open the accounts as expected of public office holders, while filling the mandatory asset declaration forms before he was sworn in as the governor.”

However, a legal luminary, Dr. Tunji Abayomi, told The Point that retrying the APC leader on the same offence for which he was discharged and acquitted was not practicable under the law, as that would amount to “double jeopardy,” should he be re-arraigned on those charges.
In a telephone interview with our correspondent, Abayomi said, “It cannot be the same case. There are different aspects of this issue of Code of Conduct. It may be a different aspect entirely. For example, a public officer is not supposed to have a foreign account; families of public officers are not supposed to accept any gifts, and so on.

“But on the resuscitation of a case already decided and which an accused has been discharged and acquitted, it is practically impossible. There is a guarantee against double jeopardy. You can’t try a man twice on the same offence.”
Furthermore, a competent source, who pleaded anonymity, told The Point in confidence that the Presidency might also have established a strong link between Tinubu and some of the federal judges under trial for alleged corrupt practices. He said the angle was also being explored to put the former governor in check when the time is right. “Already, Tinubu has been linked to some of the drama playing out in Ondo State ahead of the forthcoming gubernatorial election, with his alleged sponsorship of the Alliance for Democracy gubernatorial candidate, Olusola Oke, against the candidate of the ruling APC, Rotimi Akeredolu,” he added. Recall that there has been a simmering cold war between President Buhari and Tinubu over what has been described within political circles as “alleged unfair treatment meted out to the Southwest over appointments that did not properly consider the latter’s interest.”

According to reliable APC sources, both men have cautiously been managing each other over political slots that negate expectations.
They added that Tinubu also considered as an affront, the allotment, without recourse to him, of major slots for the Southwest geopolitical zone to his former protégés who no longer enjoyed his patronage.

It is generally believed that Tinubu played a pivotal role in the circumstances that paved the way for President Buhari’s emergence as the presidential candidate of the APC and his eventual victory in the 2015 presidential election, against a ruling party that had been in power for 16 years and an incumbent President.

But reliable sources close to the Presidency informed The Point that things had since gone from bad to worse, noting that Tinubu had withdrawn his financial support for the party in addition to avoiding some major meetings of the party leadership.
Instead, they confirmed that he is now preoccupied with his realignment with some political turncoats and opposition elements in a political scheme that is getting good support across geo-political zones.

One of the sources, however, warned that the Presidency was not asleep and was keeping tabs on all the moves.
He said, “The Presidency has moles in all the Government Houses across the nation, which includes security agents who give daily reports to Aso Rock about events, the political shenanigans and the secret hands behind this scheme.

“The Presidency recognises Tinubu as a political generalissimo that could rock the boat, if his billings and biddings are not properly handled. We know he is embittered and has never pretended about it. But to handle this, the option being explored is to re-open his files and invoke his past against him as a way of not only padlocking his mouth and clipping his political wings, but also curtailing his ambition.”
Reacting to the development, some Tinubu loyalists told The Point that their principal was fully aware of the planned crackdown. They boasted that all the schemes would come to naught.

One of the sources, a member of Tinubu’s kitchen cabinet, said, “We are definitely aware of the move. The essence is to curb him from founding a mega party that will challenge APC in 2019. It is not him alone; it is him and Atiku that will be dealt with soon.
“However, I don’t see any of their moves succeeding because Asiwaju himself does not sleep for a minute when it comes to Nigerian politics. He is working out his own equations. Soon, plans will be rolled out.”
To Ola Williams, another Tinubu loyalist, the scheme will not work, because, according to him, it will trigger the fall of the Buhari administration.

“Do you believe that will work? Asiwaju knows how to deal with them. Apart from this, do you think his disciples nationwide will fold their hands and allow such to happen to their principal? He has them in every nook and cranny of Nigerian politics. If this plan is followed through, then Buhari wants to crash his government,” Williams said.

In a seeming confirmation of The Point’s lead story of an impending formation of new party, a carnival-like solidarity rally in support of Tinubu’s alleged decision to dump APC was staged across Lagos last weekend. The rally, tagged, ‘I stand with Tinubu,’ organised by a group of Tinubu loyalists, was said to have miffed the Presidency, hence the expedited action now being given to the grand scheme to nip his wings.
His loyalists said the rally “was primarily organised to express feelings against those attempting to rubbish what Tinubu had built and stood for in Nigeria, especially in Yorubaland.”

Spokesperson of the organisers, Mr. Tijani Oluwadamilare, said they would not allow the Yoruba leader to be rubbished by the people he built politically, adding that Asiwaju had been sidelined by the very people he made, which of course led to the face-off between him and the APC National Chairman, Chief John Odigie-Oyegun.
Oluwadamilare also made allusion to an alleged gang-up by former governors of Lagos and Ekiti states, Babatunde Raji Fashola and Kayode Fayemi, with El-Rufai and others to whittle Tinubu’s stranglehold on South-West politics, ahead of 2019.

adedehinbo:
I am enjoying the name checkers crew, very funny people, though am a yoruba o but we re not pained at all cos we don't support evil like the Igbos, take his father for eg he has already disowned the bagger

Mortipher:
You can pay per installments.