₦airaland Forum

President Bola Tinubu has assured Nigerians of his administration’s undeterred commitment to achieving comprehensive economic security for the country while addressing foundational challenges and creating a fair and equitable system in which all Nigerians can thrive.

The President gave the assurance on Thursday when he received leaders of Afenifere, the respected Yoruba Socio-Cultural Organisation, at the State House in Abuja.

Tinubu said his administration is re-engineering Nigeria’s finances and seeking to boost the purchasing power of citizens, and spread prosperity down the line, by instituting a credit system where the element of cash is not an impediment to a significantly enhanced standard of living for all citizens.

He said Nigeria must secure itself economically first before it can achieve any of its more sophisticated objectives.

‘’We are committed to the economic survival of our country. To re-engineer the finances of our country, we must start in earnest. So first, retool, revamp the economic opportunities available, and resolve to continue taking the firm and steady baby steps that are necessary.

‘’Education is a strong weapon against poverty. To empower the people, we must invest in the future of our youths. We have seen the problems parents face in training their children in school; it is the reason why we established the National Student Loan Programme, which is taking off well.

‘’We are equally examining what to do with the high degree of unemployment. We must help vulnerable people by providing social security. We are looking at how to provide allowances for the unemployed, and we are developing ways to boost the purchasing power of citizens with the Consumer Credit Scheme. If we remove the cash upfront element to buy a car or a house, we will reduce the propensity for fraud and corruption across the land,’’ President Tinubu said.

Speaking on security, the President declared that those who threaten the sovereignty of Nigeria would pay a heavy price.

‘’I am irrevocably committed to the unity of Nigeria and constitutional democracy. Constitutional democracy is reflected greatly here since we assumed office. What we face now is the challenge of terrorism. Security of life and property is very necessary for development. I can tell you we are achieving success. We have degraded terrorism to a level that they cannot threaten the sovereignty of Nigeria any longer.

‘’Banditry and kidnapping will be defeated. And there is no payment of ransom whatsoever. We are taking the battle to them. We are getting results more rapidly than before. We are working hard on intelligence gathering. Those who think they can threaten the sovereignty of Nigeria will have themselves to blame. They have a price to pay. And we are not going to relent,’’ the President affirmed.

The President thanked the esteemed delegation for their prayers and support, assuring them that he would not relent in his resolve to advance Nigeria.

‘’God bless Nigeria. God bless our unity; our diversity must bring prosperity for all for the sake of Nigeria,’’ President Tinubu concluded.

Earlier in his remarks, His Royal Majesty, Oba Olu Falae commended the President for his courageous decisions and for the rehabilitation of the Third Mainland Bridge in Lagos, as well as other critical ongoing projects.

READ ALSO: ‘FG has not been funding power sector subsidy’

He urged the President not to relent in ensuring fairness and equity for all Nigerians while noting the importance of a constitutional amendment to devolve more powers to the states.

‘’We are delighted about what you are doing for our country, and we assure you of our continued support. We thank you for your visit to Akure in February 2024, and we believe it is right and proper to reciprocate your kind gesture. We appreciate this relationship, and we need to make it work in the interest of Nigeria.

‘’Mr. President, you are the leader of Nigeria now and the most important political figure in Africa. We expect you, in view of your legacy and pedigree, to lead our country with knowledge, courage, and integrity. We have no doubt that your tenure will mark a turning point in the history of our country. Under your leadership, Nigeria will be repositioned.

‘’We will stand by you as you make all efforts to change the Nigeria story for the better. Be assured Afenifere will not abandon you in fair or foul weather. As long as you remain faithful to the principles of fairness, integrity, and courage that is expected of you as the leader of Nigeria, we will stand by you,’’ Oba Falae said.

The delegation was led by Pa Reuben Fasoranti, leader of Afenifere; Oba Falae, alongside other eminent citizens.



https://dailytimesng.com/were-resolute-in-achieving-economic-security-for-all-nigerians-tinubu/

A stakeholder in the electricity power sector has said that the Federal Government’s inability to fund the payment of electricity subsidy is hampering the growth of the sector.

Recently, the Federal Government through the NERC increased the electricity tariff from N58 to N258 per Kilowatts of electricity.

Speaking with The Business Times in Abuja, the industry player, who did not want his name in print, said the Federal Government’s attitude was almost pushing the power companies out of the market.

He said: “The federal government says it is paying subsidy, it says so, it is not allowing the industry to charge correctly because it says that it is paying subsidy.

“The reality is that the federal government has not been paying that subsidy. It is paying it in mouth only; it is not remitting the money.

“The power companies have been crying out. For instance, the system owes Niger Delta Power Holding Company (NDPHC) up to N500 billion. The system owes the Egbin power plant around N1.3 trillion. So, if you have an industry that is being owed like that, how do you think they will be able to perform efficiently? Put yourself in the place of a business advisor, is it possible for that company to thrive and continue to do well?”

He added that with the rising price of gas and the Federal Government’s inability to fund the subsidy payment, it was only a matter of time before the companies hike tariff.

“The second one is this: gas prices have gone up tremendously in recent times. Government is not producing gas, those who are producing gas are companies, and they are mostly joint venture companies. The federal government does not have a gas company that can produce gas and sell to Nigerians in a cheap manner. They have the option of selling to the international market. And you know what has happened to the Naira, remove that and add it to what is happening.

“So, there is no way that gas will continue to be purchased at that rate. Government now says it is no longer ready to pay for that difference. So, naturally, they have to increase prices, that is what has just happened,” he said.

Meanwhile, Nigerians have continued to condemn the sharp increase in the price of electricity. They said that despite the current economic realities, the Federal Government still allowed the distribution companies to increase electricity prices.

According to them, the increase was unjustified especially with irregular power supply.

In rolling out the new price, the NERC classified electricity users into Band A, B, C, and D depending on the number of hours of electricity that they consume.

But with many areas not getting electricity, public affairs commentator, Taiwo Adisa, said the classification is just a clever way to increase tariff.

“I can bet it that the DISCOS won’t adhere to the Bands in practical terms. The first thing to ask is where are the places that enjoy 20-hour supply? We can count them on our fingers if they even exist because as soon as Adelabu started this drive for increased tariff, the DISCOS have been dancing palongo with supplies,” he said.

Media practitioner, Fidelia Soworei, described the classification, saying it is another means to defraud Nigerians.

She said: “The classification is a fraud. It is a cunning way to extort money from helpless Nigerians. The regularity of power supply conflicts with the hours of supposed frequency of supply captured under each band.

“Again, you have to shout because silence will embolden them to plan a worse evil.”

With constant grid collapse leading to power outages, Nigerians say the Federal Government is just dancing to the dictates of the power companies.

In a chat with this newspaper, General Manager, Transmission Company of Nigeria (TCN), Ndidi Mbah, explained that the company is not solely responsible for the collapse of the national grid.

According to her, the national grid is a question of demand and supply.

“If there is not enough gas supply to thermal plants to generate enough power for us to transmit as demanded by the distribution companies, there is little we can do because the grid is a question of demand and supply.

“If TCN is struggling to maintain the stability of the grid when generation is very low, demand would surpass supply, and this could lead to system instability, which invariably could cause system collapse depending on the severity.

“There are numerous factors that can cause grid collapse. It’s not a matter of TCN sitting down to checkmate grid collapse. A sudden drop in major load off-take by distribution companies can cause grid instability, which may lead to grid collapse. Also a sudden major drop in generation can have the same effect.

“Again, there is the issue of spinning reserves. Now that we don’t have a spinning reserve, if there is a sudden drop in generation, for instance, the spinning reserve ought to come in, to compensate for loss of power and help stabilize the grid. And because we don’t have any spinning reserve presently, if there is a sudden large drop in generation, there will be an instant imbalance or mismatch between the generation and demand from the distribution end, which can lead to system collapse. The Transmission arm can also suddenly face a challenge that can cause collapse. There are so many other things; it’s not one thing that you can just go and fix,” she added.

Nigerians have been accusing the Federal Government of allowing the DisCos to continue to exploit Nigerians through estimated and outrageous billing. According to them, the regulatory authority for the sector has not been doing their jobs thus, allowing the distribution companies to ride roughshod on Nigerians.

Referring to the blatant fraud by the Abuja Electricity Distribution Company (AEDC) before it was called to order by the NERC, legal practitioner & CEO of Sage Consulting, Dr. Bode Fadipe, told The Business Times that it was time the government begin to clamp down on power companies that fail to perform based on the privatization agreement.

Fadipe, whose company undertakes power sector policy analysis, said: “For me, the government has to be able to bite harder. For instance, the government in its wisdom took over one of the DisCos in the North, and that is a good move. It’s been in the news that the government plans to take over another one in the South-south; whether that has taken place I don’t know. March 3 was set as a deadline for the takeover of the DisCos in the South-south region.

“The government must be ready to make sure that they play by the rules, anyone that is not playing by the rules; they take over and put it up for sale again.”

He said further that the government needs to come clean also, if it is to effectively supervise the power companies for the benefit of Nigerians.

He said: “And then of course, it’s not going to be the value chain members alone, the government must make sure that it is coming to equity with clean hands. If the government is asking the value chain members to perform, it must be able to do its own part.

“The government itself must come to equity with clean hands. I know that when AEDC published the lists of debtors, the military was one of them owing about N12 billion, no business can survive on that kind of huge outstanding not to talk of even the entire market owing the gas suppliers about $1.3 billion. I mean, that’s humongous, that’s something terribly huge. You see that there are different angles to the issues of inefficiencies that we see in the power sector on a delay basis, and rather than get out of it, we are even digging further.



https://dailytimesng.com/fg-has-not-been-funding-power-sector-subsidy/

asoflex:
open

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07062036285

asoflex:
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SCAM

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asoflex:
I have replied All that chatted me up

Cheap lazy scammer that can't come up with his own scamming method. Ole

Thief

Thief

You are the worse most lazy scammer on Nairaland

Copy and paste thief. Can't even create your own content. Lazy scammer like you

SCAM

Gejebel:
Everyone is welcome to join my new Telegram group for a full comprehensive two days tutorial on Neteller / Skrill and Binance Arbitrage where u will be able to make 10k from $100 due to increase in dollar rate. You just need two accounts. Either Neteller and Binance or Skrill and Binance. So if u have any of these two accounts or u are ready to open any of the accounts u don't have, then chat me up so u can be added to the new group. PLEASE NOTE THAT THE TWO DAYS TUTORIAL IS COMPLETELY FREE SO NOBODY SHOULD CHAT ME UP ASKING FOR THE PRICE COS I'M NOT CHARGING FOR WHAT I LEARNT FREE

Just chat me up directly on WhatsApp. Don't quote me with your contact I won't, My WhatsApp contact is +23470 397 40238

This is very bad of you to copy my post word for word and create a thread with it like you have anything useful to teach. Except u still want to copy my tutorial from my group and start teaching people what does not belong to you and what you have never tried on your life. Or can you prove me wrong by showing everyone screenshot of your transactions on this arbitrage u are claiming to teach. What's your aim of doing such a thing.



Note:
EVERYONE SHOULD BE CAREFUL OF THIS NEW ACCOUNT THAT HAS COPIED MY WRITEUP WORD FOR WORD WITHOUT EVEN CHANGING ANYTHING. THAT'S HOW LAZY YOU A RE WHICH MEANS YOU PLAN ON COPYING MY TUTORIAL WORD FOR WORD ALSO AND GIVING OUT TO PEOPLE. ANYONE JOINING HIS GROUP IS IN SERIOUS DANGER. I HAVE DROPPED MY WARNING. A WORD IS ENOUGH FOR A WHILE.

Gejebel:
Everyone is welcome to join my new Telegram group for a full comprehensive two days tutorial on Neteller / Skrill and Binance Arbitrage where u will be able to make 10k from $100 due to increase in dollar rate. You just need two accounts. Either Neteller and Binance or Skrill and Binance. So if u have any of these two accounts or u are ready to open any of the accounts u don't have, then chat me up so u can be added to the new group. PLEASE NOTE THAT THE TWO DAYS TUTORIAL IS COMPLETELY FREE SO NOBODY SHOULD CHAT ME UP ASKING FOR THE PRICE COS I'M NOT CHARGING FOR WHAT I LEARNT FREE

Just chat me up directly on WhatsApp. Don't quote me with your contact I won't, My WhatsApp contact is +23470 397 40238

This is very bad of you to copy my post word for word and create a thread with it like you have anything useful to teach. Except u still want to copy my tutorial from my group and start teaching people what does not belong to you and what you have never tried on your life. Or can you prove me wrong by showing everyone screenshot of your transactions on this arbitrage u are claiming to teach. What's your aim of doing such a thing.



Note:
EVERYONE SHOULD BE CAREFUL OF THIS NEW ACCOUNT THAT HAS COPIED MY WRITEUP WORD FOR WORD WITHOUT EVEN CHANGING ANYTHING. THAT'S HOW LAZY YOU A RE WHICH MEANS YOU PLAN ON COPYING MY TUTORIAL WORD FOR WORD ALSO AND GIVING OUT TO PEOPLE. ANYONE JOINING HIS GROUP IS IN SERIOUS DANGER. I HAVE DROPPED MY WARNING. A WORD IS ENOUGH FOR A WHILE.

livingstone2013:
I smell scam

Keep smelling. You kids go about trying rubbish on People's thread cos u are residing in an uncivilised country where you can't be sued for false accusation. Even when it was boldly stated that the tutorial is completely free and no money will be charged for it and if anyone charges u for money, leave the group and come here to share your bad experience but still the negative mindset in you will never allow you think positively. That's why it's hard to help Nigerian youths. You can't do anything to please them. Charge them for something that will help them, they call you scam. Decide to teach them for free, they still call u scam. Good luck to you Mr smelling scam.

CLOSED

CLOSED

talktomaruf:
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musicwriter:
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I'll have to wait till my next earning to complete the transition. Problem is that it takes the companies I am affiliated with over a month to pay, Amazon even take 2 months to pay!

Thanks for the info anywhere.

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henro4niger:
Transact with this guy at your own risk, I'm done

Listen to this kid rant at your own risk when we did not do any transaction together.
I'm done

henro4niger:
Lol, you lie too? Not surprised. You went offline after I got wese's number and I tried calling you but your line was switched off.

Anyone dealing with you should be very careful

Rest and stop trying to be relevant. Check your first post. U said I went offline yesterday and I said show me prove of me not replying your chat last night Wen Wese was ready or show me group u added me to with wese last night and I was offline. U are showing screenshot of call that I did not even ring on your phone and u know it. Lol

henro4niger:
You sound too pained, if you were real, you wouldn't sound so pained. I never called you a scammer neither did I insult you. However, I said your behavior has lots of red flags and people should be careful while dealing with you. Of course I have sorted myself out, just posting this here so that others will be more careful. Your tone just showed that I was corre
You claim to do business in the evening and when you saw that omicpet has shared wese90's you switched off your phone. I kept calling you till this morning.

Since u said u never called me a scammer then why lying about what really happened for people to think otherwise. I waited throughout last night for u to create the group with wese just like u siad and u did not and u came her to lie that I went offline. Did u chat me up last night that wese was Available and I wasn't online to reply u. Why won't I be pained when someone is trying to tag u what u are not. But no problem. At least I have proved u were wrong with wat u said cos u did not contact me last night for any deal with wese and I went offline. Since u have sorted yourself out then REST. Except u have another motive. Goodbye

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henro4niger:
Just want put this here, Not saying this guy is a scammer, but he's a big red flag. I wanted to use him to checkout ebay yesterday. After agreement, I told him I will use escrow. Initially I engaged omicpet, but the guy said he doesn't know him, then I engaged wese90, and the guy went offline.

Called him this morning and he said he doesn't have his laptop with him and he's at work. Don't send your money directly to him.

I also saw a post here saying he is a scammer https://www.nairaland.com/5828664/currency-e-currency-market-deals-2020/1858#120602169

Do u know how stupid u sound. Now let me expose your foolishness. We agreed on wese90 and the next thing u created a group with someone we did not discuss about and u expect me to use someone I don't know or does everyone on this Nairaland knows who that person is especially on Ecurrency thread. Why were u trying to force your escrow on me when I told u I don't know him. Then secondly we agreed on wese and u even dropped his profile for me to confirm and u said u will add me to the group with wese. I waited for u to add me throughout last night but u did not and u are saying I went offline. U must be mad for saying such just to look real. Prove me wrong by dropping screenshot of where u added me to a group with wese and I wasn't online to reply. U called this morning and I told u I don't take my laptop to work and that is why I prefer evening deals and u said okay. A sensible person will wait till evening and create a group with wese and if I don't show up then u can assume but u want to chase clout at my expense but I won't give u that liberty. Don't even bother to DM me for any deal. Get your transaction sorted out somewhere else. It's bad for u to post such trash on someone's thread when u did not deal with the person or u didn't bring the agreed escrow and the deal went wrong. Concerning the person u quoted asking him if he has received his money, I will like u to call him to confirm. If u don't know anything, then stay lost and don't try to spoil my name especially when I did not collect one naira from u. Children of nowadays hiding behind their cheap android phone typing nonsense. Don't bother quoting me again cos I will not dignify u with a response. Only the wise understand how online transactions work

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