lexy2014: yes its very good to listen but I thought Tinubu was touted as the "master strategist"? if every policy he announces he eventually has to cancle as a result of public outcry (except buying new cars and wasteful renovations), does that not show that he has absolutely no plan and is only doing trial by error?
Olusegun Obasanjo did that in Plateau, Ekiti, Oyo, and Bayelsa, and Heaven did not fall. If Tinubu gets involved, Ademola Adeleke will be history in 7 days. FG will just promise the current Deputy Governor that he will become governor, and promise the Speaker that he will be sworn in as Deputy Governor, the Chief Justice of the State will do the rest. Anybody wey wan die should troop to the streets and meet soldiers that ran away from Boko Haram who are looking for live specimen for shooting practice
It's not as simple as you're trying to make it be.
The Governor and Chief justice can sit down and talk about it and the chief justice will honourably resign.
She has now become the ex governor of Osun state whether anybody likes it or not, Adeleke won't work with her and heaven won't fall.
The Federal Government has concluded plans to withdraw civil claims totalling $1.1bn against Eni SpA, ending a long battle in Italian courts over allegations of corruption in an oil field deal.
The Ministry of Justice will waive the claims before Italy’s highest court “unconditionally” and “with immediate effect” no later than Nov. 17, according to a letter seen by Bloomberg.
According to Bloomberg, the county will also “irrevocably” waive the right to any further legal action in Italy against Eni, its affiliates, and current and past officers regarding rights for the field, known as Oil Prospecting License 245, or OPL 245.
Eni confirmed receipt of the letter and said in a statement that it was ready to consider, together with the government of Nigeria, the necessary steps for conversion of the prospective license to one that will allow the development of the oil block.
According to Bloomberg, the Ministry of Justice was not immediately able to respond to a request for comment.
Operations at the country’s oil block have been halted for more than a decade by a series of trials and competing legal claims.
The area is considered to be potentially one of the richest concessions in the country, with recoverable reserves of 560 million barrels, according to Eni’s estimates.
Whether Eni and its partner Shell Plc could finally begin to develop OPL 245 may depend on the resolution of other claims, including arbitration proceedings filed by Eni at the World Bank’s International Centre for Settlement of Investment Disputes and litigation within Nigeria.
Eni, Shell, and some of their former and current managers had already been definitively acquitted last year in a criminal case in Milan, in which they were accused of knowing that much of the $1.1bn they paid to acquire OPL 245 would be distributed as bribes.
Even after that verdict, a civil suit continued, with Nigeria seeking combined compensation of $3.5bn from Eni and Shell, claiming the amount reflected the real value of the license purchased in 2011 by the two companies.
The Central Bank of Nigeria has said its monetary policy reforms have started reflecting positively on the country’s economy.
The apex bank’s Director, Corporate Communications Department, Isa AbdulMumin, said this while speaking in Abuja on the latest inflation rate released by National Bureau of Statistics figures on Wednesday.
The bureau disclosed that the country’s inflation rate surged to 27.33 per cent in October, a 0.61 per cent point from the 26.72 per cent that was recorded in September.
But AbdulMumin said the current inflation rate released by the NBS indicated that the money market reforms by the apex bank are gradually affecting the economy.
The director added that the low increase in the average price level in October is an indication that the CBN’s monetary policy stance as well as its money market reforms were yielding the desired results.
He noted that the leadership of the apex bank is working on its core mandate to stabilise the naira as well as reduce inflation.
According to him, the implementation of vigorous monetary tightening, utilising various liquidity mechanisms, resulted in an increase in Open Buy Back rates from under one per cent in August to their expected levels in line with the present monetary policy rate.
He said such mechanisms included removing the cap on the Standing Deposit Facility and Open Market Operations.
Despite the slight rise, he assured stakeholders that the CBN is moving towards the intended goal of achieving price stability.
“Available statistics showed that the first indication of deceleration in prices was recorded in September.
“Further reforms in the money market, which commenced in October had accelerated easing in prices as indicated by the substantial drop in month-on-month changes recorded in October.
[b]“Moderation in month-on-month changes in prices observed in the headline, food, and core components of the consumer basket followed reforms in the money market and relative stability in the FX market,” [/b]he said.
The Federal Government through the Niger Delta Power Holding Company has signed a Power Purchase Agreement with utility companies to distribute a total of about 250MW across the country.
A document obtained from NDPHC by The PUNCH said the power sale transactions have been signed since the inception of the ‘Light Up Nigeria’ programme currently running under Vice President Shettima.
The Disco offtakers include, Eko Electricity Distribution Plc, Compagnie d’Energie Electrique du Togo, Sunflag Steel Industries Limited, Lagos, Wewood Limited, Omotosho, Ondo State, APLE Electric Limited, Pulkit Alloy & Steel Limited, Lagos.
Others are ABV Utility Limited, Lagos, Ayingba Independent Electricity Distribution Network Limited, Ondo South, Avatar New Energy Limited, Phoenix Steel Mills Limited, Agbara Industrial Area, and Ota & Sagamu Interchange.
NDPHC said in the document that the goal of the programme was to sell the current capacity available, and develop more, and that the power generation projects were all funded through the Excess Crude Account properly approriated by FG and the States between 2005 and 2009.
NDPHC’s installed capacity so far is 4000MW.
Despite the foregoing achievements, NDPHC said its operations are hampered by a number of systemic challenges which have significantly affected its cash flow.
The company listed some of the challenges as; transmission constraints, gas supply and transportation constraints to guarantee generation up to TCN-allocated evacuation capacity of 975MW, let alone full capacity of its power plants.
NDPHC currently has 10 power plants, however, it revealed that Calabar is the only plant with full gas supply.
“Plants in western axis require about 150MMSCF/day to meet TCN-allocated evacuation capacity 535MW (Peak).
Gas supply to western axis power plants is further challenged by low pressure on NGIC gas pipelines –ELPS & Oben-Ajaokuta. Gas suppliers want higher gas tariff beyond industry approved gas tariff ($2.50 vs. $2.18),” the Company said.
The PUNCH had ealier reported how huge debt of about N190bn by mostly government agencies had hampered operations of the company.
In resolving the challenges, NDPHC said it was “obvious more investments were needed.
“It is obvious that a lot more investment is required in transmission and government a lone cannot do this,” it said, calling for an “urgent private capital mobilisation.”
leanonme82: Popular club promoter and nightclub enthusiast Yhemolee posted a screenshot on his instastories of an Igbo girl begging for him to date Igbo girls. The message read:
'Hi Lee, nevertheless we still see you as a sweet lover
Please who is chasing who again, between yoruba man and Igbo woman?
Your Igbo girls are hawking themselves cheaply all over Lagos Una talk say na we dey chase them.
I'm still waiting for you to show me where she was begging him for a date
Politics › Re: Tinubu Cancels 40% IGR Deduction From Universities by Ikaeniyan0: 5:09pm On Nov 17, 2023
