₦airaland Forum

Geomac: Stop making fool of yourself and accept you made a mistake.

I don't have time to waste on ur likes go play along with ur mates!! Read the link I posted if don't understand it then ur helpless

[quote author=GARRI (x7)]Its mathematics.... Olodo!!!

You just scored an own-goal!!!

[/quote]ode who scored an own goal lemme educate ur garri invested brain!


Mathematic
| Definition | Thesaurus | TranslationsAlso found in: Encyclopedia, Wikipedia



 
math·e·mat·i·cal  (mth-mt-kl) also math·e·mat·ic (-k)
adj.
1. Of or relating to mathematics.
2.
a. Precise; exact.
b. Absolute; certain.
3. Possible according to mathematics but highly improbable: The team has only a mathematical chance to win the championship.
[Middle English, from Medieval Latin mathmaticlis, from Latin mathmaticus, from Greek mathmatikos, from mathma, mathmat-, science, learning, from manthanein, math-, to learn; see mendh- in Indo-European roots.]


http://www.thefreedictionary.com/_/dict.aspx?word=Mathematic


U can't solve simple addition problem u wan come teach english bloody illitrate

This is the kind of news that gives uninformed and un educated critics who can't solve simple mathematic heart attack.

Even the opposition Acknowledges this!.except for their brainwashed buttlickers on nairaland.

By Charles Onyekamuo 

Deputy Chairman, Senate Committee on Power and the Senator representing Anambra Central district in the upper chamber of the National Assembly, Dr. Chris Ngige has said that the nation will witness appreciative improvement in the power sector next year given efforts being made to boost power generation, transmission and distribution sub sectors which according to him had suffered decay over the years.

He also said he had expected that with the exit of former Power Minister, Prof. Barth Nnaji about the middle of last year, a replacement would have been named in his stead by President Goodluck Jonathan given the precarious situation in the power sector.
Ngige who addressed the press in Awka Friday said that ordinarily, the President can decide to run the Power Ministry without a substantive Minister even when there is a Minster of State on ground.

He however said that in his informal interactions with Mr. President he had made his views on the necessity of a substantive Minister for Power known to him to which he agreed that they were on the same page.

Besides, he noted that Leaders of Thought from the South East had under the auspices of “Ohaneze-Ndigbo and the South East Zonal caucus in the National Assembly met with the President on the need for the next Minister of Power to be appointed for the South East.

But while bemoaning the poor power generation in the country, the Action Congress of Nigeria (ACN) Senator said part of the problems had been that most of the power generating sub-stations were sited long distances away from their sources of gas supply thereby increasing both the cost of distribution and safe guarding laid pipes against vandalism.

He nonetheless said that the 2013 fiscal budget and part of outgoing 2012 budget will accommodate capital projects especially for upgrading of transmission stations that will ensure availability of power.

Also as part of efforts to boost electricity supply next year, studies he said had commenced   on the possibility of having coal powered plants in parts of the country with large coal deposits with a view to improving electricity supply.

http://www.thisdaylive.com/articles/power-supply-to-improve-next-year-says-ngige/134799/

Of course u should knw is premium times they are paid online newlairs! el rufai has dem on his payrole.

ehie: laptop 35,no break on christmas day?anyway anything u talk na wash..

ehie: laptop 35,no break on christmas day?anyway anything u talk na wash..

like other slow hypocrite u resort to beating around the bush. I just listed a few of his achievement why don't u counter it AC.N paid goon u think is achievement on the pages of newspaper that ur governors are known for u can call me whatever laptop number u wish but if u cany debunk what I wrote the ur are a fool!

he increased nigerian non oil sector by 300 percent fact!

http://en.starafrica.com/news/nigeria-records-over-300-growth-in-non-oil-exports.html


He has revamped our abandoned and dilapidated railway system that has been in comatose for decades facts!!

http://www.businessdayonline.com/NG/index.php/news/76-hot-topic/49412-fg-inaugurates-1126km-lagos-kano-rail-service

Nigerians power generation has increased and still increasing something that cannot be achieved by other presidents facts!!!

http://allafrica.com/stories/201212190077.html

Just travelled to the east and I can authoritatively state that this administartion has fixed the ore-benin road and if u travelled to the eastern part of the country this yuletide u would agree that that road is wearing a new look far better than buhari- objs regime except ur a hater like the op.

zanga420: this is getting interesting, now he said Fashola constructed no new road n you said otherwise pls mention the roads so that all can bear witness to it. This how mature we should handle things here n we'll all enjoy discussions. Wad up to u guys. 1love

my brother that's is the modus oprendi of the AC.N paid apologist on nairaland instead of engaging people in meaningful or constructive agruement. They resort in bigotry,abuse and name calling then end it by beating around the bush!! Some of them are soo dumb that they think the FG is responsible for the dilapidated local government roads in the south west.is it not shame that after 14years of AC.N rule in lagos state there is no single public hospital in the whole eti-osa local government.

And I guess he was still a pastor in the church when obasanjo did same as a sitting president why didn't he criticize him then!

https://www.nairaland.com/72157/abomination-obasanjo-redemption-camp

AMIDST reports of unconfirmed insider involvement in recent terror attacks, security chiefs holding positions in Northern locations are now reportedly under surveillance as part of new counter-terror options.

A top security handler hinted Sunday Tribune that recent events in some security establishments located in the Northern part of the country necessitated the new measure which he described as “highly confidential.”

“It is sensitive, but a decision taken to safeguard the nation. The watchman is now under watch, “the source said, describing the measure as “part of new anti-terror measures now being adopted by nations facing multiple terror threats.“

Sunday Tribune was told that the new surveillance measure was taken as a result of what the source called “perceived security breach carried out by disgruntled elements in Northern formations.”

It was revealed that the penetration of some security formations in the North may have been with active connivance of some insiders, a development said to have created anxiety within the government.

Further checks showed that some operatives felt badly treated after the takeover of the Presidency, following the death of former President Umaru Yar‘Adua, while others are said to be sympathetic to the push of the North for Presidency in 2015.

It was learnt that some officers, while remaining loyal to the new leaders, still felt marginalised with bad postings without efforts at rehabilitation, more than two years after the Jonathan Presidency began.

The new measure, Sunday Tribune was told, is linked with the bombings at Jaji, where it was alleged that operatives relocated from the State House after Yar‘Adua’s death were fingered.

The affected officers were said to belong to Brigade of Guards during the reign of the late president‘s and were dispersed around Northern formations for strategic reasons.

Meanwhile, the security situation in the Northern region may become complicated with reports indicating that Islamists from Northern Mali have activated their Nigerian cells for kidnapping of Westerners in Nigeria.

According to a report carried by a Sahel news site, Magrebia, Al-Qaeda in the Magreb has decided to target Northern Nigeria, due to the high presence of Europeans and other Westerners in many Northern cities.

The Islamists are said to be determined to punish Westerners, due to the push for military intervention in Northern Mali.

The news site does not, however, link the kidnap of a Frenchman in Katsina recently to the new development.



http://www.tribune.com.ng/news2013/index.php/en/component/k2/item/1625-terrorism-security-chiefs-under-watch

CBN Governor, Sanusi Lamido Sanusi

Festus Akanbi
A strong indication emerged at the weekend that as the nation awaits the timetable for the next phase of the ongoing power sector privatisation, some Nigerian banks have come under pressure from a number of foreign financial institutions angling to participate in the financing of the power projects as financial partners.

The recent approval of preferred bidders for Power Holding Company of Nigeria (PHCN’s) successor Generating Companies (GENCOs) and successor Distribution Companies (DISCOs) by the National Council on Privatisation (NCP) had paved the way for the take-off of the power projects, a development which the foreign financial institutions are said to be lapping on.

THISDAY checks showed that while some Nigerian money deposit banks are busy evaluating some of the proposals forwarded by some of the bidders for financing, some foreign financial institutions have expressed their readiness to pull their weights in the power sector project financing.

Financial analysts said Nigeria has become an investment destination for foreign financial institutions as a result of the perceived lack of depth of local lenders to foot the bill of power sector projects and the favourable investment climate in the country in recent times.

Speaking on the progress made so far on the ongoing power sector privatisation, Managing Director/Chief Executive, First Bank Nigeria Plc, Mr. Bisi Onasanya, said there are foreign development financial institutions which have indicated their interest in being part of the power project financing in Nigeria.

He confirmed that a number of winners of the bids for the power projects had approached First Bank for financing, but said, however, that the bank is taking its time to ensure that only credible ones are given audience.

He said: “For projects that First Bank believes in, financing or funding the transactions will not be a challenge. We have the biggest balance sheet in Nigeria, we have the biggest loan book in Nigeria, and so what is appropriate in terms of financing structure will be put in place. For some of the transactions, we would finance alone and for some of the transactions, we already have parties outside Nigeria who are waiting to partner with First Bank in doing the large deals. What is important is to make sure that we pool our resources together. Banking has become globalised. So these transactions are not just available today for Nigerian banks, there are foreign development financial institutions which are also waiting because they want to be part of the transactions.”

According to him, the bank has even gone a step ahead to raise preferred bidders bonds for a number of consortia that met the requirements for the bank’s partnership although he declined to name the affected organisations.

“Customer confidentiality will not permit me to name them. The stage in which the process is today is that the preferred bidders are required to post a preferred bidders bond, that’s to say they are able to pay. I have been with a couple of consortia for which we have issued that preferred bidders guarantee and we are going ahead to raise the payment,” Onasanya said.

He disclosed that First Bank would solely handle the financing of some of the projects, explaining however that partnership with foreign financial institutions would be needed for a number of the projects as events unfold.

The bank’s chief said the partnership might be beyond mere funding of the projects, explaining that it would also be in the technical aspects of the projects.

“What we are putting on the table with the consortia we are dealing with is not just funding. We are also involved in the technical side of it and so it’s not just First Bank alone that is involved in this, we are also hand-holding them with our investment banking arm in providing financial advisory services to some of them.

“We are not just into it today to assist them in getting those assets under the procurement arrangement. We want to be there with them in terms of putting in necessary structures for capital expenditure commitment that they require and appropriate management to make sure that the operations are drawn in a very efficient manner and that there is synergy,” he explained further.

The privatisation of the power sector took a shape with the creation of Power Holding Company of Nigeria (PHCN) the initial holding company), which was subsequently unbundled into 18 successor companies.

Strategically, the objectives of the reform include the transfer of management and financing of the sector operations to the organised private sector; the establishment of an independent and effective regulatory commission to oversee and monitor the industry; and focusing the FGN on policy formulation and long-term development of the industry.

The measure was expected to lead to increased access to electricity services; improved efficiency, affordability, reliability and quality of services; and greater investment into the sector to stimulate economic growth.

http://www.thisdaylive.com/articles/power-privatisation-foreign-banks-pile-pressure-on-nigerian-lenders/134329/

The scene of the bomb blast


From Ibrahim Shuaibu in Kano and Onyebuchi Ezigbo in Abuja               
Two suicide bombers were yesterday killed in Kano by their own bombs while trying to bomb Airtel and MTN facilities in two separate incidents.

A suicide bomber was said to have forced his way into the premises of the Airtel office located at Malam Kato square in Kano metropolis in the wee hours on Saturday as there was nobody in the premises apart from the watchman who were injured by the blast.

It was also learnt that minutes after the heavy blast at the telecommunication office at Malam Kato square, another bomber also missed target and hit a pole at MTN mast in Maimalari road of Bompai Kano, and the bomber was killed by his own explosive.

According to sources, suicide bomber hit the office  at about 8 am  and damaged the telecommunication’s outfit reception, as well as three vehicles parked at the premises.

The Spokesman of Joint security Task force (JTF) Captain Ikedichi Iweha confirmed the incidents that “ the two suicide bombers were known to have lost their lives in the two incidents while a watchman of the telecoms company sustained injury “.

Captain Iweha explained that officers of the Joint Task Force (JTF) have cordoned off the area, and no civilians were killed during the blast as it affected the suicide bomber alone.

The JTF spokesman disclosed the that operatives of the task force are in firm control of the situation, adding that everybody is going about his business without problem.

Meanwhile, the National Emergency Management Agency (NEMA) saturday confirmed the coordinated attacks by suicide bombers at facilities of two telecom operators in separate locations in Kano Municipality.

The agency's Head of Public Relations, Mr. Yushau A. Shuaib said in a statement that the bombers targeted the Airtel office around Mallam Kato Square old Parade Ground of Unknown Soldiers and MTN facility opposite Floor Mill, Malali Road Kano.
He said NEMA has mobilised response agencies to the scene of the early morning explosions and that security was being beefed up in the state.

" NEMA has confirmed attacks ontelecommunication masts belonging to Airtel and MTN at Old Parade Ground and Malali respectively in Kano municipality today. Secunity have cordoned off the area, " he said.

According to the statement, no human causality has been recorded by the incident so far.
NEMA said the attacks took place early in the morning when two suicide bombers hit at two targets, the Airtel office around the old Parade Ground of Unknown Soldiers popularly known as Mallam Kato Square and MTN facility opposite Floor Mill, Malali Road Kano.

A statement by General Manager, Corporate Affairs, MTN Nigeria, Funmi Omogbenigun last night confirmed the attack but she said the appropriate security agencies have been informed of the development.

She said “There was an attempted attack at our Switch in Kano by a car laden with IED. There was an explosion at the gate. There were no fatalities on the part of MTN security operatives or employees.

The appropriate security agencies have been informed and we are receiving the usual co operation.”
Meanwhile, THISDAY could not get the reaction of Airtel management as the time of going to the press.

http://www.thisdaylive.com/articles/2-suicide-bombers-killed-in-attempt-to-hit-airtel-mtn-kano-offices/134351/

Op here's what wikipedia has to say about your so called best president!!!

Buhari government

Major-General Buhari was selected to lead the country by middle and high-ranking military officers after a successful military coup d'etat that overthrew civilian President Shehu Shagari on December 31, 1983. At the time, Buhari was head of the Third Armored Division of Jos.[4] Buhari was appointed Head of State and Commander-in-Chief of the Armed Forces, and Tunde Idiagbon was appointed Chief of General Staff (the de facto No. 2 in the administration). Buhari justified the military's seizure of power by castigating the civilian government as hopelessly corrupt, and his administration subsequently initiated a public campaign against indiscipline known as "War Against Indiscipline" (WAI). Aspects of this campaign included public humiliation of civil servants who arrived late for work whilst guards were armed with whips to ensure orderly queues at bus stops.[5]

He also moved to silence critics of his administration, passing decrees curbing press freedoms and allowing for opponents to be detained up to three months without formal charges.[6] He also banned strikes and lockouts by workers[6] and founded Nigeria's first secret police force, the National Security Organization.[7] His government sentenced popular musician and political critic Fela Kuti to ten years in prison on charges that Amnesty International denounced as fabricated and politically motivated;[8] Kuti was later pardoned and released by Buhari's successor.[9] In another high-profile incident that sparked a diplomatic incident with Britain, British officials found Buhari's former transportation minister drugged in a crate marked for shipment to Lagos.[10]

According to the BBC, "Buhari's attempts to re-balance public finances by curbing imports led to many job losses and the closure of businesses."[11] These losses were accompanied by a rise in prices and a decline in living standards.[11] Some may hold contrary view to this assertion and call it mischievous though,[12] because Buhari is admired by many for his uprightness and stand against corruption. His government is revered for its ability to keep the country afloat by making progress through sheer economic ingenuity even when it rejected IMF loan and refused to adopt IMF conditionalities to devalue the Naira.[13] His government is praised for its gain in reducing inflation by refusing to devalue the nation's currency, the Nigerian Naira, curbing imports of needless goods, curtailing oil theft and using counter trade policy to barter seized illegally bunkered crude oil for needful goods like machineries, enabling it to export above its OPEC quota.[14]

http://en.m.wikipedia.org/wiki/Muhammadu_Buhari

kettykin: Anybody dreaming of a coup must be in a real Dream land. i guess Nigerians is full of dreams .

if i may ask who will strike , how will he strike and when will he strike and what happens if his strike fails

don't mind the diluded conspiracy theorist allow them to wallow in their dreamland while nigeria continue its march to greatness

jmaine: So all the insults on GEJ were all baseless and misplaced . .and yet they scream how clueful they are

my broda this are our so called leaders of tomorrow,and a product of our dilapidated education system!! Well lemme not generalize its only on nairaland I see these exibitions of foolishness where people don't analyse issues or engage in a meaningful arguement without insulting people who see issues from a diffrent perspective.ignorant buffoons who don't even knw the basics of governance but are quick to join the bandwagon of rumour mongers and false alarmist payed agents that we have on nairaland Now adays.someone has been asking those abusing the president to tell us which budget that contained the 16billion naira V.p's house Project but non of those uneducated critics has answered him and yet they open their stinking mouths to insult the president.if u throw accusations u should be able to back it up with facts! But that's not the case on nairaland!

Were are the haters,pessimists and the retards who said this was a propoganda?is not yet 2015!is too early to start hidding ur face in shame!.while u keep hating,causing and propogating propoganda on nairaland !9ja will slowly but surely get there.

Shey some peeps said there were no celebration in the north!

THE gas turbine projects under the National Integrated Power Projects (NIPPs) scheme are expected to add 4,264 Mega Watts (MW) to the national grid, when completed in 2013.

Already, the NIPPs are presently contributing about 1,687MW to the grid through the 15 power generation stations commissioned across the country.

The Managing Director, Niger Delta Power Holding Company (NDPHC), owners of the NIPPs, James Olotu, who disclosed this in Lagos, recently, projected that the power generation from the NIPPs would hit 4,900MW by May 2014.

He stated that about 15 power generation plants have been commissioned between January 2011 and December 2012, assuring that more deliveries would boost power supply in 2013.

He, therefore, rolled out plans for the new year, with expectations that the completion of all gas turbine projects under the NIPP scheme would add 4,264MW before the end of 2013.

Others projects planned for the year includes follow up on the outstanding combined cycle for Alaoji, which would generate 510MW, follow up the completion of transmission projects - 2,194Km 330KV lines and 5,640MVA 330/132KV SS and 809Km 132KV lines and 3.433MVA 132/33KV SS.

http://www.theguardianmobile.com/readNewsItem1.php?nid=9246

Akshow: @ poster stop the propaganda. This govt is the most inept and backward administration of all time. Shikena

shut up their I wish our past government was as inept as this. Are u not ashamed of urself an inept government has done what all the past president since buhari to obj put together can't achieve but an inept government did it in 2 years.u and ur likes can countinue in ur foolery on nairaland come 2015 ur likes would have no place to hide their face in shame.its a propoganda why don't u counter it with what is true retardinho

Omen100: Karl what is it that you are not saying & why are you so economical with the truth? Yes it is not a today's thing, & so we continue doing what is wrong because the wrong practice did not start from this administration, no wonder, phones are getting tinny & smarter, while Nigerians are getting educated, fatter & stupiid.

that is not what am saying do u thing that the way corruption has been institutionalized in nigeria where even an average citizen is corrupt both from politicians to public and private sector workers to the ordinary citizens it would take just 2 years and a sole person to erradicate it without a change of orientation from the citizenry? A country where me and you in our own small way can arrange soldiers without their oga knowing to do anything for us.GEJ is not omnipotent like God to knw every single thing that happens in his government.

take dat: Airhead, its obvious you've got nothing in your pea brain so I'll pay you no mind!

just like the hypocrites do beat around the bush dullard!instead of u to back up ur useless conspiracy theory that GEJ approved the use of the chopper for kabukabu u resort to abuse that has been the modu oprandi of idaats and simpletons that always come on public forum to exibit their foolishness.just like ur blaming GEJ for what has been the norm in the corrupt system called nigeria(which he is trying to change) am blaming your fada for bringing yet another simpleton to the long list of ur generation retard!

[quote author=garri (x8)]The fear of the loss of awuf oil money is the beginning of wisdom. Non-Oil producing states should think seriously about ways to generate funds instead of going to Abuja on a monthly basis to collect awuf money. Nigeria is too blessed for all states of the federation to depend solely on oil-money[/quote]so people can now see why power has to return to the north come 2015 at all cost even if is through boko haram bombings or mergEr talks! Because the north are hell bent on pulling this country backwards like their region southerners open your eyes a country that a section claims sharia but yet share vat collected from the rose, and hennesy wey we dey pop for club for lagos and other southern middlebelt state. Is doomed to fail.

[quote author=trix!]I was going to say every worker (even in private firms) usually has a right to company properties, (e.g borrowing official cars for private trips/weddings, using company restaurants for receptions, ) as long as there's prior approval, and its used sensibly..

But after reading the post below, its clear that we've over abused the privileged. I think the most annoying is seeing men in Nigerian army uniform opening and closing gates of private business establishments. even one of the yeye Nigerian musicians sef, don use am sing song say e get mopol as gatemen.[/quote]according to some nairalanders maybe na gej go don approve am for them to dey open gate and close gate for people

take dat: Because the impunity did not start with GEJ doesn't mean it should be further encouraged under him. GEJ partly takes responsibility for this mishap cos he is the C in C to the armed forces who permitted the use of a military aircraft for kabukabu purposes.

it is only a hypocrite that would expect it to end with a wave of magic wand. And only a small mind would expect an age long problem to be solved in 2years.and if I may ask where u present when he parmmited the use of the military aircraft for such pupose.I guess he also permitted the use of policemen as houseboys and house girl to private citizen and also permited military men we see everyday who escort smuggled vehicle and other contraband from cotonu!

olas2u: seems you dont know what 4,000 megatwatts means at all.80%.The city of Cairo, generates 25,000 megatwatts,Tokyo a city in japan,generates 70,000 megatwatts.This are just cities.

he knows what his talking about if our past leaders generated this much starting from buharis military regime to obj's 8 years of waste we would be among those counties u mentioned if not better. If u disagree start by telling us how many kilowatts of electricty was generated in thse administrations I mentioned as againt population growth during their reign lets compare.

@Okija_juju thanks for letting them knw that dis didn't start under GEJ like they would want some ignorant nigerians to believe.see how they painted article as if the misuse of the military and other security operatives started under this government.me ma go like hire there submarine for site seeing this december.

The federal government has announced that it has injected N60 billion into the nation’s textile industry to revitalize the sector.

The Managing Director of the Bank of Industry, Evelyn Oputu made the announcement during a validation workshop on the mid-term evaluation of the Cotton Textile Garment (CTG) scheme in Abuja.

Ms Oputu said the another N40billion would be made available to help arrest major issues of unemployment so as to boost the investment climate and re-industrialise the fallen sector that had affected seventeen million livelihoods.

Textile manufacturers however appealed to the federal government to urgently tackle issues of insecurity and smuggling threatening to undermine the sector.
http://www.channelstv.com/home/2012/12/18/fg-to-revitalise-textile-industry/

You see how the north want to frustrate the PIB and latter some people would come here and preach how power should go back to the north.I don't see any entity called nigeria beyond 2015!.

By Dele Ogbodo
There was uproar and confusion in the Senate Tuesday when the Deputy Senate President, Senator Ike Ekweremadu, called on the Senate Leader, Senator Victor Ndoma-Egba, to open the debate on the much-awaited Petroleum Industry Bill (PIB) for consideration.
However, immediately this was done, shouts of “no, no, no” rented the air from majority of senators in the chamber.


The confusion eventually led to the temporary suspension of the debate and postponed to another date, which was however not made known to members.


The opposition for the consideration of the bill, THISDAY learnt, came mainly from the northern senators.
When he stood to add his voice to the melee, Deputy Senate Majority Leader, representing Bauchi Central senatorial district, Senator Abdullahi Ningi, said: “Mr. President, I rise to make an intervention in this matter because this is the first allotted day and tomorrow (today) will be Wednesday and if we intend to make any adjustment, we can say the entirety of this subject matter will be discussed tomorrow, (today) while appropriation is Thursday. I’m just speaking from the morale point of view.”
The deputy majority leader went further to push for the debate on the bill to be halted for the mean time. 


Also quoting from Order 56 (12D), Senator Ahmed Lawal, representing Yobe North senatorial district, and a member of the Northern Senators Forum (NSF) said: “Mr. President, before I read this section, let me say that the bill requires more than a day for consideration, it is such an important bill that it will require perhaps four day of deliberation so that every senator will contribute.”


He was of the view that the upper legislative chamber should not consider the bill for debate, adding that the mourning mood of the nation and Senate stemming from last Saturday’s air crash in which six prominent Nigerians died, required that the bill be shelved to another date.


“The mood of the Senate after passing the resolution on the recent air disaster requires that the Senate should close for the day,” Lawal stated. 


Eventually, when Ndoma-Egba got the floor to speak, he attempted to make a case for consideration of the PIB, saying,  “Mr. President, distinguished colleagues, let me say that I am reminded to be guided by the mood of the Senate. But having said so, this bill was on our notice paper, it has been on our notice paper for a very long time.


“Secondly, a number of days have been allotted for consideration of this bill. Thirdly, I was in Washington, when I watched the chairman on Rules and Business, emphatically telling Nigerians that this bill will be taken today (yesterday). Fourthly, the circumstances under which this bill was introduced should not be a loss to us, we shouldn’t forget so soon.


“Remember the bill was introduced a day before we went on our last break, the thinking then was that it was a ploy for us to be held responsible for it not being taken.”


Continuing, Ndoma-Egba said it had become imperative to give a clear background on the issue, adding: “I thought that the least that could happen today (Tuesday) was for me to introduce my own debate and then we can have an adjournment.” 
However, owing to the uproar that greeted the introduction of the bill, the Senate unanimously resolved to step down the debate to another date.

http://www.thisdaylive.com/articles/uproar-confusion-force-senate-to-halt-debate-on-pib/133999/

Davidson Iriekpen

An interim investigative police report on the involvement of Capital Oil and Gas Limited in the fuel subsidy scheme has established that the company and its Managing Director/Chief Executive Officer, Mr. Ifeanyi Ubah, and four of the company’s staff, colluded with others to defraud the Federal Government of Nigeria of billions of naira.


The four indicted staff of Capital Oil are its Executive Director, Operations, Mr. Orji Joseph; General Manager, Operations, Mr. Ogbuokiri Chibuzor; Depot Manager, Mr. Okorie Onuabuchi; and Head of Training, Mr. Nsikan Usoro.


The report, which was obtained exclusively by THISDAY, was written and signed by the Commissioner of Police, Special Fraud Unit (SFU), Ikoyi, Lagos, Mr. Ayotunde Ogunsakin, on November 5, 2012, and addressed to the Chairman, Presidential Committee on the Verification and Reconciliation of Fuel Subsidy Payments, Mr. Aigboje Aig-Imoukhuede.


It showed that Capital Oil was involved in 26 transactions covering the importation of 538,740,000,000 litres of petrol and was paid N43.291 billion as subsidy claims in 2011.


The report detailed the arrest and interrogation of Ubah and four others by the SFU between September and October, during which it was discovered that the alleged irregular claims were made based on fraudulent fabrication and forged documents in which about N43.291 billion was paid to Capital Oil as subsidy claims.


The report noted the irregularities were in the form of alterations, wrong reference numbers and duplication of vessels, coupled with cargo quantity inflation.


It was the purported suspicious nature of the transactions and claims noted by the presidential committee’s auditors that compelled the committee to request the police for a thorough investigation into the activities of Capital Oil and Ubah.


According to the report, “Import duty certifications, bill of ladings, Letters of Credits (LCs)/Form Ms and other documents were perfected with the active connivance of the Department of Petroleum Resources (DPR), Petroleum Products Pricing Regulatory Agency (PPPRA), bank officials, Nigerian Ports Authority (NPA), the Nigerian Maritime Administration and Safety Agency (NIMASA) and other port authorities clearing agencies.


“These fraudulent practices were formatted from the point of ship to ship transactions involving mother vessel and daughter vessel documentations, cargo quantity inflation and other underhand practices perfected to undermine transparency in the petroleum subsidy payment process.”


The police, in the report, alleged that Capital Oil, its management and proxies, forged documents, made fraudulent representations, obtained under false pretence, and stole Federal Government money by claiming monies paid on the transactions.


The report showed that Ubah was invited on September 9 and interrogated on the queries and inconsistencies reported in the complaint by the presidential committee against Capital Oil.


It indicated that the list of existing and noted infractions compiled by the auditors was used by the police as their guide for interrogation.
It went further to allege that the “response of the suspect (Ubah) confirmed the concern of the presidential committee and investigation team,” adding that it was on this note that it became necessary to detain the suspect for further interrogation.


“An affidavit was sworn to request the Lagos State judiciary to grant an order for the remand of the suspects. This order was granted by the Magistrates Court 5, Tinubu, Lagos, on October 11, 2012,” the report said.


During interrogation, Ubah was purported to have stated that Capital Oil was incorporated in 2009 and commenced operations in 2010.
“He stated further that the company commenced full activity in subsidy scheme in 2011 and that Oil Force Limited, is a sister company of Capital Oil and Gas.


“He confirmed that the two companies trade on the approval of DPR and maintain different assets. He averred that the operational/transactional difficulties necessitated the formation and use of Oil Force to format transactions.


“This was due to the heavy indebtedness of Capital Oil and Gas to the banks and that the decision was taken to gain customer confidence.


“He insisted that Access Bank Plc financed the infrastructural development of the two companies and 70 per cent of the their import transactions are done through Access Bank,” the report stated.


Ubah was also said to have insisted that it was the duty of the DPR to check quality and the quantity of cargo, maintaining that Capital Oil used open credit facilities in all the transactions.


He informed the police that the firm always notified NPA, DPR, PPPRA and other authorities to witness the discharge and facilitate

port/harbour reception and storage at the tank farm, and the details of these transactions were submitted to the presidential committee.
Irrespective of its findings, the police concluded that to establish a prima facie case against the suspects, it would be necessary to obtain details of all the transactions from the Federal Ministry of Finance from the Office of the Accountant General of the Federation to obtain the financial instruments, as the original documents that were forged would be needed to establish forgery.


The police added that all the documents, including certified copies of the financial instruments from Access Bank, LCs and bills of lading covering the petrol cargoes brought in by Capital Oil, would be needed to consolidate their proof of evidence.


“At the conclusion of these ongoing actions, a consolidated report will be submitted on a prima facie case of conspiracy to commit felony, money laundering, forgery, stealing, obtaining by false pretence and economic sabotage against Capital Oil and Gas, Ifeanyi Ubah and those found to has conspired, colluded, or aided the culprits,” the police informed the presidential committee’s chairman. 


http://www.thisdaylive.com/articles/police-indict-capital-oil-ubah-for-subsidy-fraud/134007/

For avoidance of doubt lemme post the full article so that nairalanders can see how some peeps defend their paymasters foolishly.


FG, Governors Agree on Removal of Fuel Subsidy

07 Oct 2011

From Ahamefula Ogbu and Chineme Okafor in Abuja

•Major oil marketers demand more action

The 36 state governors and the Federal Government yesterday rose from the National Economic Council (NEC) meeting and agreed that fuel subsidy should be removed as it was not contributing to the expected well-being of the citizens of Nigeria.

In the meantime, Major Oil Marketers Association of Nigeria (MOMAN) has thrown its weight behind Federal Government’s proposal to phase out the administration of fuel subsidy starting from the 2012 fiscal year, saying it is a “desirable” and “thoughtful” move.

MOMAN – comprising key marketing and distribution companies such as Mobil, Conoil, Total, African Petroleum (AP), MRS Oil and Oando Nigeria Plc – also called on the government to swiftly move in its bid to open up the petroleum industry by fully deregulating the downstream sector instead of concentrating on the removal of fuel subsidy.

Addressing the State House Press Corps after the NEC meeting, Governor Chibuike Amaechi, who is also the Chairman of Nigeria Governors Forum (NGF), said they were ready to engage in dialogue with labour on the issue.

It was however observed by THISDAY that Action Congress of Nigeria (ACN) governors did not participate in the briefing and full deliberation on the issues.
Amaechi, who is also the Rivers State governor, said the Federal Government had already mapped out palliative measures to cushion the effects of the subsidy removal expected to commence in January.

He declined to spell out the details as he insisted that it would amount to playing the role of governor and that of the Finance Minister, Dr. Ngozi Okonjo-Iweala, at the same time.

However, no agreement was reached on the operation of the Sovereign Wealth Fund (SWF) which Amaechi said that discussions were on-going and that if along the way the governors see reason to be convinced and persuaded to maintain the account, they would decide on it.

He said. “One of the most important issues that we canvassed and decision reached was that governors supported the Federal Government’s move to remove subsidy because we believe it is to the interest of this country. We will save money for the development of the economy and at the end of the day; we will provide opportunity for the greater number of people.

“The other issues we discussed were the issues of education and agriculture and the need to develop agriculture at the state level and necessary support from the Federal Government, the issue of Education Trust Fund (ETF) and Universal Basic Education (UBE) and how to get them to support education in the different states.

“We also accepted the need for the setting up of the planning and research and statistics department aimed at capacity building is included in that development. And we are to work with the Federal Government and the National Planning Commission in that regard so that we will have our people trained and their abilities improved upon.

“I am sure you want to hear about the Sovereign Wealth Fund, it was discussed. We deferred decision, the issues were properly canvassed and we are of the view that there is a dialogue in process.”

Asked why no decision was reached on the SWF which the governors met and agreed to oppose, he replied that there was no need to escalate the issue, adding that they were satisfied that there was dialogue in process and that when they were convinced about the issues being discussed about it, they would take decision on it.

On what they intend to do about the groundswell of opposition to the removal of fuel subsidy especially by the labour unions which was capable of grounding the economy, Amaechi said they were elected to act in the best interest of the people and that in doing so, some of their decisions would be hard, but added that they would only act in the best interest of the majority and assured Nigerians that only few people were benefiting from the subsidy.

He also submitted that should the Federal Government deregulate the petroleum sector, more investors would come in and invest in the refineries, which would in turn create employment and open the economy to more prosperity as against the gain from the subsidy by few elite which he said they had decided to confront.

“I don’t think the Federal Government or the governors are shying away from the conversation that will emanate from it. I don’t think the governors or the Federal Government can be insensitive to the people that have elected us and put us in office. Don’t forget that this is a civilian government; it is a democratic government that we seek for votes four years after.

“We must learn to take very difficult decisions. That is what we were elected to do and that decision is to improve on the welfare of our people. So whichever discussion that will escalate the conversation, we are ready for discussion. We are open to discussions and we are open to the fact that there are social safety nets that the Federal Government is trying to put in place to cushion the effect,” he said.

Although he explained that the Federal Government was putting up safety nets, he added that it was only the Minister of Finance that could give the details, pointing out that even at the current price, fuel sells for over N100 in the South-east whereas if the sector was opened up and more players joined in building refineries, the law of demand and supply would come into play and at the long run, prices would fall.

“To take it further, none of you journalists has asked the question or to take it further that the moment you liberalise or deregulate the oil industry, then you will provide opportunities for people to invest in refineries and create employment opportunities. Nobody has picked up that argument; that is why we are saying that all those who said they are opposition, either parties or individuals are not justified.

“The Federal Government and the governors’ forum are ready to engage them in that discussion. Any day and anywhere anybody comes up with that, because there are so many benefits that will accrue to the people.

“Nigerians are dying of hunger on the streets when we can liberalise or deregulate the oil industry and create more employment opportunities and at the end.... most people do not know that from crude oil, you can get a number of other products that can emanate from there and that is part of other aspects of economic development and nobody has addressed that.

“When you talk about sensitivity, you must realise that this is informing our decision. Beyond the fact that a few of us elite are benefiting from this huge pull of fund that no one can account for. The aim is to create conducive environment to explore the opportunity,” he stated.

On whether it would not be wise to enter into dialogue with the unions, both Minister, National Planning Commission, Dr. Shamsudden Usman, and Governor Abdullazeez Yari of Zamfara State explained that there had been engagements with labour where committees had been set up adding that Amaechi is one of the members.
He said that it was an on-going process that would carry all segments of the country along.

Yari specifically pointed out that N50 million was deducted from each of the 774 local government areas in the country for fuel subsidy which ends up in a few pockets, and insisted that it would benefit the people to remove the subsidy which was not in the interest of the greater number of Nigerians.

Also yesterday in Abuja, the Executive Secretary of MOMAN, Mr. Obafemi Olawore, said in a telephone interview with THISDAY that the removal of fuel subsidy and perhaps an eventual deregulation of the petroleum sector of the country were long overdue, adding that MOMAN was totally in support of government’s latest move.

The Federal Government on Tuesday announced its plan to phase out fuel subsidy in 2012 when it presented its 2012-2015 Medium Term Fiscal Framework (MTFF) and Medium Term Expenditure Framework (MTEF) to the National Assembly.

According to the document, which was prepared by the Budget Office of the Federal Ministry of Finance, government hopes to save about N1.2 trillion next year alone, which it will employ to provide safety nets for the poor to ameliorate the effects that will come with the removal of the subsidy.

But organised labour and civil societies in the country had in the aftermath of government’s announcement of the proposal, condemned it, pledging to mobilise Nigerians against the plan.

Olawore, in his reaction, said: “I think we should ask labour and Nigerians what they actually want. It is desirable to regulate the petroleum sector considering that government has said it can no longer continue with the subsidy.

“This move is long overdue and MOMAN supports it, although it is a tough decision because of the hardships associated with it which will eventually arise but government, in conjunction with key stakeholders, should actually devise measures to ameliorate these expected hardships.”

In further justification of the latest move by the government, Olawore explained that the deregulation of the sector would in due time allow for an entrenchment of the market forces of demand and supply which in a matter of perhaps six months will ensure stability in the system.

“I should also ask again, what is the way forward especially in deregulation? It goes beyond just removing the fuel subsidy but total deregulation of the sector to allow for the market forces of demand to stabilise the system in maybe six months,” Olawore added.
http://www.thisdaylive.com/articles/fg-governors-agree-on-removal-of-fuel-subsidy/99978/


They supported cos they know that they would get more fund to loot and to pay some retardinhos who defend them blindly like the one that claimed it was solely an FG decision.even when he now knws how much his state governor has collected over 7 month period on his behalf his still defending them yet his only interested in what the FG what they've done with their.keep turning blind eye to the amount ur state governors and ur local government who's government u can feel collect and expect the FG to come and use their own share of sure-p to take care of ur state and local goverment.