Mbulela's Posts
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naijababe:http://www.thisdaylive.com/articles/after-paying-intels-over-n1-trillion-fg-moves-to-acquire-10-per-cent-equity/209026/ |
mrmetoo1:You are talking about a potential Nobel Peace prize winner. So watch your tongue. |
mmsen:You are scrapping the bottom of the pit. Mmia that they can not sort out ordinary cooling and solitary conveyor belt,yet you are talking of expansion. Press freedom is nothing new. As bad as Obasanjo is, people criticized his govt and info was available. Let us not act like Jona invented press freedom. |
naijababe:Try and read the one going on at NPA/Intels axis. See a recent post of mine. I am not even sure Buhari stands a chance no matter how good his intentions are. The mess is too much. |
mmsen:Which airport? I was in enugu and I Saw a substandard thing that celebrates mediocrity. The one in Port-Harcourt is a proof that Oduah never meant well for this country. |
Especially if you are not Greece |
Incurring debt to pay salaries is a crime punishable by death. |
Rooneyboy:He just acquired sense? He and his brothers cannot even organize whoring young girls in the name of pageant. He left NTA worse than he met it. He claims to have the ears of Jonathan and never had sense then. Suddenly he had acquired sense. |
Charly68:God is not into the vengeance business. |
Esdb3:Saraki can never be as brazen as Ochendo In stealing. |
Mr. Ben Murray-Bruce, which part of hell will be reserved for PEJ and for the way you messed up NTA will you be stuck in purgatory? After all this your publicity blizz, i hope you will refuse that jumbo pay that is coming your way for shouting Ayee and neeeeeeee!! |
Sometimes, the decisions taken in government makes you wonder if they are under a spell. |
Not again. Can someone pls make this man stop? We have more important issues than stoking the fires of ethnicity and tribalsitic jingoism. |
Concerns mount as INTAdo shareholder takes over as MD of NPA, in clear impunity and conflict of interest John Iwori There is a growing concern among industry stakeholders over the recent moves by the federal government to acquire ten per cent equity of the Integrated Services Nigeria Limited (INTELS) in the dying days of the President Goodluck Jonathan's administration, which analysts believed will reinforce the monopoly of the private company in the critical maritime sector using the resources of the federal government of Nigeria. The worry arises from the revelations from a report, which shows that the Nigeria Ports Authority (NPA) had indeed paid INTELS the sum of $5.2 billion (about N1.04tr) over the years. INTELS, which was hitherto known as Nicotes, which started business in the 80’s is the exclusive concessionaire of Onne, Warri and Calabar ports. According to reports made available to THISDAY, it was discovered that the late Emir of Kano, Alhaji Ado Bayero, owns ten per cent equity of INTELS, while the original investors and the late Shehu Yar'Adua owned 50 and 20 per cent equity respectively. Stakeholders therefore find it curious that the late emir’s son, Alhaji Sanusi Lamido Ado-Bayero was recently appointed the Managing Director of the NPA, in what many see as not only an act of gross impunity, but also a manifest case of conflict of interest. He resumed office April 30. It is even more worrisome that the Federal Government is making moves to acquire the shareholding of the late emir, while his son superintends over the affairs of the NPA. It is even more curious that the former Managing Director, Mallam Habib Abdullahi was removed because he was opposed to the move by the federal government to buy the 10 per cent equity in INTELS. In his letter to the federal government through the inter-ministerial committee on the acquisition of the 10 per cent equity, the former Managing Director wrote that: "Venturing directly into the shareholding of a private partner may conpromise the neutrality of NPA as landlord and the federal government as umpire in the industry". He further said that in the light of the prevailing controversy concerning INTELS' alleged monopolistic activities, buying into INTELS' shares will generate discomfort among players in Nigerian Port industry and make the NPA vulnerable giving that it (NPA) has ongoing participation with other development partners. Following this memo, Abdullahi was removed as Managing Director and the son of a major shareholder, Alhaji Lamido Ado-Bayero was appointed. Maritime operators who spoke to THISDAY last night are worried that the monopoly hitherto enjoyed by INTELS in the operations of the ports will only get worse with the major owner of INTELS now presiding as the managing director of the ports. “This will surely stymied operations of the ports and I can assure you that this is not good for our economy”, as source said last night. INTELS took over the running of the ports following the conclusion of the economic reforms in the nation’s seaports during the Chief Olusegun Obasanjo’s administration. The exercise, which was midwifed by the Bureau for Public Enterprises (BPE) divested the management of the Nigerian Ports Authority (NPA), that is the day-to-day running of the ports from the government agency to private operators. According to the report which was obtained by THISDAY at the weekend, INTELS has monopolised the services rendered by the authority in Onne Port Complex and the Oil and Gas Free Trade Zone to the detriment of other operators in the maritime industry and beyond. The report also showed that in the areas of its operations, the company has edged out its competitors as it now provides services previously rendered by NPA and in the process raking in millions of naira as profit. The report said it is pertinent for the federal government to review its relation with the company to ensure that its competitors are not made to continue to hold the short end of the stick. According to the report, it is not proper for the federal government to buy into the shares of the company as it is proposed in certain quarters. Venturing into the share holding of a private company by the federal government will jeopardise the position of NPA as a government umpire that ought to be neutral in the port industry. It hinged its position on the fact that INTELS is yet to be, publicly quoted company as it still largely a private entity with several interests at stake. In a seeming defence of government's move a senior government official last night confirmed that Abdullahi's memo came to an inter-ministerial committee comprising the ministers of Justice, Transport and Commerce and Industry. When ask why government wants to buy into the shares of a private company which collects revenue on behalf of federal government and has relationship with the Nigerian National Petroleum Corporation (NNPC), the official said government was considering the move as a way of raising revenue given that a free trade zone is not taxable. He however assured that the government will take a second look at everything, "and we will come out will a win-win situation". |
brixton:He needs to knock her. Old age is giving him sense. A man needs a proper anchor. |
contactmorak:Soon to be new wife. Made their son's prayer must come to pass. There is something called love. |
m1500:Abia is a failed state. |
kilokeys:Hahahahaha. Things have gotten so bad that paying salaries makes you a role model in the NGF. Amaechi had not paid most workers for March and April. |
PassingShot:It is not govt's job to start or finish industries. All that is needed is for government to provide an enabling environment for such to thrive. Your other indices are in order. |
paperless1:The daftness in your comment is worrying. Do you realize that we are talking about De Klerk's divorce not Mandela? De Klerk was never away from his wife and was not fighting any struggle. There is nothing to imply in his statement. He simply attempted to appear smart and aware of happenings outside his local environment and being a foreign terrain, he failed woefully. |
scarred9jan:When De Klerk sues him now for defamation, they will start crying xenophobia. Jonathan is a nice man until he talks. His relatively low intelligence becomes too glaring to ignore. Even Buhari is not much better in that regard but makes up with some strong personality and character that will make q difference in government. Jonathan is an all round weakling that makes you wonder how a polity as ours ended up with such at the helm. |
I am no fan of gej but I think this madam should stop flogging a dead horse. GEJ presidency is a dead horse. We have acted in his failure by voting him out (although I hear he is still deluded enough to believe that he did not lose. That means his failure has not sunk in but that is a discussion for another day). |
Buchukwu:How come every other Nepa staff I know has been paid? Are you sure he was a staff? |
PentiumPro:That scam together with the amnesty fraud are two things the new govt has to discontinue if they expect any sane person to take them serious. Spend the money in massive infrastructural development of the area. Even are that they must award such contracts to reputable firms not indigenes as we saw Amaechi do in rivers state. If the bandits want to make the area ungovernable, they are welcom. Then the govt will deal with the security situation withat the full weight of the law. |
Buchukwu:But they were paid off? Let us be sincere, the privatization of a govt parasatal will always lead to job losses. It is inevitable. As much I feel the poor quality of electricity, it is too simplistic to blame it on the privatization. If generation is poor, distribution is irrelevant. It is okay for your fad to blame GEJ butting doubt it is a blame devoid of bias. |
rusher14:Forget insensitivity, the guy or girl is daft. You give his guardians too much credit when you assume he or she was even raised. |
wiseoneking:Even as a Christian, I find your argument very worrying. Unconvincing, threatening and devoid of the simple fact that desent is an option. |
mcmukoko12:Why did the man leave home? |
Finally, with nothing at stake Aliyu Mohammed has found his voice and is no longer sitting on the fence. |
Saturday 9 May 2015 16.16 BST Last modified on Saturday 9 May 2015 16.18 BST Cristiano Ronaldo, who has been no stranger to charitable acts throughout his career, has donated to the charity Save the Children to help their aid efforts in Nepal after the earthquake which killed more than 8,000 people and injured another 20,000 last month, according to reports in France. The French football magazine, So Foot, reports that the 30-year-old Real Madrid player made the donation having previously asked his 100m Facebook followers to support to the charity. The Portugal striker, who scored in the 2-1 Champions League semi-final first-leg defeat at Juventus last week, is no stranger to such acts. Last year he paid for €60,000 worth of treatments for a 10-month-old boy with cortical dysplasia. He has also worked closely with Unicef and World Vision and in 2004 he flew to Indonesia having seen a survivor from the tsunami there wearing a shirt with his name on the back. Real Madrid face Valencia in La Liga on Saturday night before entertaining Juve in the second-leg of their last four tie on Wednesday. |
teeowl:No she is not. |
Please remove this crap from the front page. It is filled with misinformation and outright lies. The writer is writing from a place of intense ignorance. |
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