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Travel / People Have Abandoned Travelling, Now Send Goods To Families - Kaduna NURTW by ogododo: 10:54am On Dec 16, 2023
The leadership of the Kaduna State branch of the National Union of Road Transport Workers says travellers in the state have reduced by over 50 per cent as the Yuletide approaches.

The state NUTRW Secretary, Malam Bature Suleiman, disclosed this on Friday in an interview with the News Agency of Nigeria.

Suleiman said the development was due to the high cost of transportation fare which was occasioned by the increment of fuel pump price.

People no longer travel but only prefer to send messages to their loved ones. Sadly, if you go to our motor parks now, you will see a lot of vehicles waiting without passengers.

People don’t have money to travel until it becomes necessary; they prefer to waybill messages,” Suleiman noted.

He said commercial motorists were running at a loss due to the poor economic situation of the country, adding, “Apart from the increase of fuel price, we have a lot of bad roads, and a lot of policies taken on the transportation sector are not favourable.”

The official lamented alleged multiple taxes which members of the union had been paying, describing the situation as very bad.

He said, “There are lots of revenues attached to transportation as the government now seems to have its focus on the sector. Currently, there is an increment so much that what the driver would get at the end of the day is nothing to write home about. Drivers would just be doing the work without any gain in it.”

The official lamented alleged multiple taxes which members of the union had been paying, describing the situation as very bad.

He said, “There are lots of revenues attached to transportation as the government now seems to have its focus on the sector. Currently, there is an increment so much that what the driver would get at the end of the day is nothing to write home about. Drivers would just be doing the work without any gain in it.”

https://punchng.com/people-have-abandoned-travelling-now-send-goods-to-families-says-nurtw/

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Politics / Customs Generate 70% Revenue From Lagos, Says Comptroller-General by ogododo: 12:26pm On Dec 15, 2023
The Comptroller General of the Nigeria Customs Service, Adewale Adeniyi, has disclosed that 70 per cent of the service’s revenue comes from Lagos State.

According to him, the Lagos State Government are planning new collaboration to enhance the economic growth and prosperity of the entire country.

He said this on Thursday in Lagos during the CGC 2023 Conference with the theme ‘Leveraging Data Analytics for Secure and Efficient Trade Facilitation in Customs operations.’

According to Adeniyi, Lagos houses 40 per cent of the Customs commands in the country.

“Lagos houses 40 per cent of our commands, contributing over 70 per cent of our monthly revenue. It is not just a location on the map; it is a cornerstone for Nigeria Customs Service, symbolising the integral role in the economic narrative of our great nation.

Customs impound 25 vehicles with smuggled goods
“And as we navigate through the agenda of today, we will hope that the synergy of Lagos and Customs inspire us to enhance operations and contribute significantly to the economic prosperity of Nigeria,” Adeniyi said.

The CGC said the service had adapted to the ever-evolving landscape of global trade, beyond its traditional role of safeguarding borders.


“Customs has evolved into a vital catalyst for economic growth and development in this era, characterised by relentless change. Customs has emerged as a paragon of resilience and adaptability, eagerly embracing technology and global best practices to remain at the forefront of its mission and standing at a crossroads of innovation, and tradition,” he added.

Earlier, the Lagos State Governor, Babajide Sanwo-Olu, had stated that the state would continue to ensure that “it has all the capability and capacity to be resilient, resourceful, and be the beacon that holds the nation together.”

“We are indeed excited with what Lagos and NCS have built. We want to make this place a bigger home for you. We want to make it a nicer environment for you,” he asserted.

https://punchng.com/customs-generate-70-revenue-from-lagos-says-comptroller-general/

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Politics / Re: NPA, Customs, Others’ Budgets Missing From Tinubu's 2024 Budget - BudgIT by ogododo: 10:17am On Dec 15, 2023
dre11:
Ports Authority, Customs, Others’ Budgets Missing From Tinubu Government’s 2024 Budget, BudgIT Laments



https://saharareporters.com/2023/12/14/ports-authority-customs-others-budgets-missing-tinubu-governments-2024-budget-budgit
Na inconclusive budget.
Politics / Re: Fuel Price: Reject W’bank N750/litre Proposal, NLC Warns FG by ogododo: 7:42am On Dec 15, 2023
Nlfpmod.
Politics / Re: We Need To Mobilize For Good Governance, By Femi Falana, SAN by ogododo: 7:08am On Dec 15, 2023
RushManni:
Don't jur like this falana guy ..... Man is one of the problems of this country - would rather prefer to keep mute at attrocities specially if it's some people than call a spade a spade.


Na true he no dey straight.
Politics / Fuel Price: Reject W’bank N750/litre Proposal, NLC Warns FG by ogododo: 7:06am On Dec 15, 2023
The Nigeria Labour Congress, on Thursday, warned the Federal Government against heeding the advice of the World Bank to increase the pump price of Premium Motor Spirit popularly called petrol to N750/litre.

The NLC’s Head of Information, Benson Upah, in an interview with The PUNCH, said any further increase in the price of petrol would lead to anarchy in the country.

He, therefore called on the government to reject the proposal of the World Bank that petrol should sell at about N750/litre, as against the current rate of between N620 and N650/litre in most locations across the country.

This came as oil marketers explained that the cost of PMS should be around N1,000/litre had it been that the government not subsidising the product.



Meet Ondo Regent Whose Father Reigned For Three Days | Punch
But the government, on Thursday, denied the claims of marketers and the World Bank as regards the reintroduction of subsidy on petrol in Nigeria.

The World Bank, on Wednesday, asked the Federal Government to stop the subsidy payment on petrol and raise the cost of the product to N750/litre.

It said the Federal Government might still be paying the subsidy as fuel prices in Nigeria were currently not cost-reflective, stressing that Nigerians should pay about N750/litre for PMS as against the current price of N650/litre.


The World Bank’s lead economist for Nigeria, Alex Sienaert, alleged the continuous payment of petrol subsidy by the government in Abuja during his presentation of the Nigeria Development Update, December 2023 Edition.

“It does seem like petrol prices are not fully adjusting to market conditions. So, that hints at the partial return of the subsidy if we estimate what is the cost reflective of the retail PMS price of the would-be and assume that importation is done at the official FX rate.

“Of course, the liberalisation is happening with the parallel rates, which is the main supplier, the price would be even higher. These are just estimates to give you a sense of what cost-reflective pricing most likely looks like.

“We think the price of petrol should be around N750/litre more than the N650/litre currently paid by Nigerians,” he stated.

Reacting to statement of the World Bank, the labour movement declared that a further hike in the price of fuel would be an automatic invitation to anarchy.

The NLC’s Head of Information, Upah, described the World Bank as a predatory institution that does not care about the welfare of Nigerians, stressing that the initial increment in the pump price of PMS had caused enough problems in Nigeria.

“The World Bank is globalist north in thoughts and actions and has little or no consideration for the global south. It is a predatory institution that the global north uses to justify its crimes against the south.


“It is almost single-handedly responsible for the ruination of the economies of countries of the global south for which it prescribes one solution for all ailments.

“It does not care what happens to Nigeria or Nigerians so it could from its perch in Washington say whatever it likes or push around our leaders like house-helps.

“The truth, however, remains that the present regime of the pump price of PMS has all but destroyed the country. To now ask the government to raise it to N750/litre is to invite anarchy upon the land.

“The World Bank is so hypocritical it fails to see the nexus between price and capacity. The minimum wage in Nigeria for a privileged few is N30,000. The same minimum wage in the United States where the law is enforced is N1.5m.

“In light of this, if the government knows what is good for it, it should ignore the World Bank but must remain committed to fighting inherent corruption in the downstream sector of the petroleum industry. It must also cut down the high cost of governance.”

FG denies subsidy

But the Federal Government denied the claims of the World Bank on the continued payment of the fuel subsidy on petrol.


In an interview on Channels Television on Thursday, the Minister of Information and National Orientation, Mohammed Idris, said President Bola Tinubu had made it clear from his first day in office that his government would not sustain the payment of subsidy on petrol.

According to Idris, the removal of the petrol subsidy had led to an increase in the revenue accruing to the Federation Account.

“Subsidy is gone, and the President told Nigerians from his first day in office that there won’t be subsidy (on petrol). It is because subsidy has gone that we have so much money available for the government to do so many things. Of course, it’s never enough, but fuel subsidy is gone and it’s gone for good,” the minister stated.

He added, “There are instances where the government needs to come in to see that things don’t go so bad. That’s the responsibility of the government. Every rule will also have its self-adjusting mechanism, but I can assure Nigerians that the subsidy is gone.

“If you look at the monies accruing to the Federation Account and the kind of money the states are receiving, you would know that everybody desires that subsidy should go. What do we do with that subsidy, I think, is the next question. We need to scrutinise that so that Nigerians would benefit from the subsidy that has been taken away. Subsidy is gone.”

Marketers project

Reacting to the argument by the Federal Government that the petrol subsidy had gone, the National Secretary of the Independent Petroleum Marketers Association of Nigeria, Chief John Kekeocha, said this was not true.

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Kekeocha said the government was afraid that the removal of the subsidy would lead to unrest.

“It is funny when government personnel who don’t know the realities on the ground come to the open and mess the government up. How can you say that subsidy is gone? No reasonable person who knows the dynamics of the market globally will say that.

“As we speak, a pound is about N1,480 or more, and a dollar is about N1,200 or more. So what is the magic to use and say subsidy on PMS is gone? The government is subsidising PMS because if it gets to N1,000/litre the country could be set on fire.

“So the government is apprehensive. Just like I keep saying, the things they ought to have done before the removal of subsidy on petrol, were not done. They are now beginning to sit with organisations and try to know what they ought to have done.

“So no reasonable government personnel who knows the politics or dynamics of the downstream oil sector would come out and say subsidy has been removed. There is a subsidy, the government is subsidising the product which is why you can see fuel at N650/litre,” he stated.

Asked whether he shared the view of the World Bank that the pump price of petrol should be N750/litre, Kekeocha replied, “Even at N750/litre it is still subsidised. What is the cost of fuel in London? It is about N1000 to N1,200/litre. So that is the range we should be looking at.”

Earlier, the National Public Relations Officer, IPMAN, Chief Ukadike Chinedu, told one of our correspondents that the subsidy on every litre of petrol should be about N400 currently.


“Remember I once told you that we are operating quasi-subsidy, but now that quasi-subsidy scenario is gone. It is now a full subsidy on PMS because the naira is down, so there is nothing you can say about it.

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“Since the dollar is now about N1,100, if you buy it at that price for the purpose of importing petrol, that means PMS should be selling around N950 or N1,000/litre. This is because when the dollar was N750, petrol was sold at N595/litre. So there is no magic about this.

“Also, the cost of diesel is skyrocketing. Now, when diesel is sold at over N1,000/litre, the difference between its cost and that of PMS is not more than N5 or N10/litre in normal circumstances,” he stated.

The Convener, Nigerian Unity and Progressive Forum, Ifeanyi Egwuagu, called on Civil Society Organisations to embark on a nationwide peaceful demonstration to demand concrete action from the government towards ameliorating the sufferings of Nigerians.

In a statement issued in Abuja, Egwagu expressed worry over the economic hardship being faced by the majority of Nigerians over the years and accused the Tinubu administration of taking the sufferings of Nigerians to a higher degree through the removal of the subsidy.

“The plan to remove fuel subsidy has been on the front burner over the years. There is a logical argument that the positive impact of removing the subsidy will be felt in the long run.

“However, a government that truly has the socio-economic well-being of the people at heart will put in place sustainable measures to lessen the sufferings associated with the immediate subsidy removal.


“I cannot see any clear-cut vision by the present administration to enhance the socio-economic well-being of Nigerians. For me, what President Tinubu did was to put the cart before the horse.

“If a powerful cabal was alleged to have been stealing subsidy money, why not go after the cabal and recover the stolen wealth of the people from them? In any case, I do not see this government fighting corruption as desired by good-thinking Nigerians.”

Fuel queues

In a similar development, the Independent Petroleum Association of Nigeria, on Thursday, said it would meet the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, to demand the supply of more Premium Motor Spirit, popularly called petrol.

It disclosed this while responding to questions on what was being done by the association to address the queues for petrol at filling stations operated by both major and independent marketers, as well as the lack of products by IPMAN members.

Speaking on the sidelines of the National Delegates Election of the association in Abuja, the newly elected National President of IPMAN, Abubakar Maigandi, said his team would work hard to ensure the seamless distribution of petroleum products nationwide.

Commenting on the queues at filling stations and the lack of products by some independent marketers, Maigandi said, “We are going to contact the GCEO of NNPC to make sure that all the required products are being supplied to us so that we should be able to get our filling stations with PMS and others.”


On the move by the Federal Government to deploy Compressed Natural Gas as an alternative to PMS, the new IPMAN boss said it was a welcome development and promised that members of the association would participate fully.

“We are ready to key into Mr President’s programme on CNG in such a way that you are going to see all our members participating fully in the programme,” Maigandi stated.

Speaking about the elections that produced him as president, Maigandi said other contestants for the position of IPMAN president stepped down and gave him their support to lead the association.

“They stepped down for me, therefore I need them so that we can be able to move this association forward and help the administration of President Bola Tinubu in moving the oil sector forward,” he stated.

The Chairman, Board of Trustees, IPMAN, Aminu Abdulkadir, said the elections successfully produced new officials who would run the association for the next five years.

“By our constitution, we are saddled with the responsibility of conducting the elections, and we have done our job well because there was no single dissenting voice. We have conducted a successful election and our members are happy about it.

“This is because the wishes of the people have been expressed here. I want to also state that IPMAN, as a critical stakeholder in the downstream oil sector in Nigeria, has turned a new leaf today with the emergence of its latest leadership.”


Other newly elected executives of the association include the National Vice President, Adekunle Fasola; National Secretary, James Tor; Assistant National Secretary, Suleiman Yakubu; and National Treasurer, Umar Aliyu.

The National Organising Secretary is Ben Odjugo; National Legal Adviser, Nnanna Oru, among others.

Also, the Federal Ministry of Finance, on Thursday, said details of the proposed plan to scrutinise the dollar oil revenue flow accrued to the government from financial gains of fuel subsidy removal would be released and widely publicised when completed.

The Director of Press and Public Relations, Stephen Kilebi, offered this explanation when one of our correspondents sought further clarification on plans to scrutinise the Nigeria National Petroleum Corporation Limited as earlier indicated by the Minister of Finance, Wale Edun.

Kilebi said the audit, which was a work in progress, represents the government’s effort to be accountable to the public and all processes and procedures would be released.

He said in a telephone interview, “Well I don’t think those details should be in public domain for now because it should be a work in progress.

“And since that is the intention of government, I think they would be working towards that. So when they are perfected and procedures completed. They will come to tell the public how the audit will be done.”


Recall that the minister had revealed during a panel session at the World Bank’s Nigeria Development Update Release, that the government was ready to scrutinise the revenue flow from the National Nigerian Petroleum Company Limited.

In the report, the World Bank raised transparency and accountability issues about the financial gains from fuel subsidy removal remitted by the NNPCL and the impact of subsidy removal on federation revenues.

According to the World Bank, while revenue gains from the exchange rate reforms are visible, more clarity is needed on oil revenues, including the fiscal benefits from the PMS subsidy reforms.

It declared, “Nominal oil revenue gains have been evident since June; these are mostly categorised as ‘exchange rate gains’”, suggesting that they are due to the naira depreciation.

“Except for the exchange rate-related increases, however, there is a lack of transparency regarding oil revenues, especially the financial gains of the NNPC from the subsidy removal, the subsidy arrears that are still being deducted, and the impact of this on federation revenues.

“It is also unclear why retail petrol prices have not changed much since August, despite fluctuations in the exchange rate and global oil prices.”

The institution further expanded that gains in net oil revenue of the federation were lower than what they should have been considering what the removal of fuel subsidy should have added to the accounts.


The PUNCH reports that the expanded scrutiny comes barely a week after a former Governor of the Central Bank of Nigeria, Lamido Sanusi, alleged that the NNPCL might not be remitting enough dollars to the Federation Account despite the subsidy removal.



https://punchng.com/fuel-price-reject-wbank-n750-litre-proposal-nlc-warns-fg/
Politics / Re: We Need To Mobilize For Good Governance, By Femi Falana, SAN by ogododo: 7:31pm On Dec 14, 2023
It is submitted that the concept of African democracy is neither new nor original. There was a huge debate about it in the 1970s and 1980s in Africa. In 1974, Dr. Nnamdi Azikiwe suggested a diarchy to replace liberal democracy while the Kutu Acheampong military junta attempted to impose union government (uni gov) which would make Ghana a non-party state. In a rigged referendum, over 60 per cent of the voting population supported the uni gov in 1978. The concept was developed to justify authoritarian rule and wanton corruption by generals and civilian despots. Some misguided intellectuals supported the concept before it was defeated.

African dictators had insisted that they should be judged by the standard of the West because of the peculiarities of African countries. In West Africa, Ghana attempted to experiment with uni government or diarchy under the pretext that the liberal democracy was alien to the African environment. In 2015, Gardner Thompson, who had taught in Uganda as a history teacher, published a 446-page book on it entitled AFRICAN DEMOCRACY: Its Origins and Development in Uganda, Kenya and Tanzania.

It is submitted that the campaign for African democracy is diversionary as Section 14 of the Constitution provides that the Federal Republic of Nigeria shall be a State based on the principles of democracy and social justice while the participation by the people in their government shall be ensured as sovereignty belongs to the people of Nigeria from whom government through this Constitution derives all its powers and authority. Furthermore, the security and welfare of the people shall be the primary purpose of government.

But members of the ruling class have deliberately failed to observe the provisions of section 14 thereof since 1999 on the ground that it forms part of the fundamental objectives and directive principles of state policy are not justiciable. That is a misleading position as section 224 of the Constitution has imposed a legal obligation on all political parties to adopt the fundamental objectives as part of their programmes. Since all governments in Nigeria are constituted by members of political parties they are bound to implement the provisions of the fundamental objectives. However, the socio-economic rights of the Nigerian people outlined in Chapter two of the Constitution cannot be actualized by a peripheral capitalist government. I am compelled to call on the trade unions and other progressive forces to mobilize the Nigerians to fight for the socialist reconstruction of Nigeria.
Politics / We Need To Mobilize For Good Governance, By Femi Falana, SAN by ogododo: 7:31pm On Dec 14, 2023
eynote address by Femi Falana, Senior Advocate of Nigeria, during the public presentation of Dis Life No Balance, held at Abuja on Thursday, 14 December 2023))

Ladies and Gentlemen.


It gives me great pleasure to be invited to give the keynote address on the occasion of the public presentation of the book entitled Dis Life No Balance: An Anthology of Nigerian Diaspora Voices by three writers. After I had accepted the invitation to deliver this keynote address, a senior lawyer advised me to stop fraternizing with Professor Kperogi and his friends for attacking the highest court in the land.

Indeed, not a few in high places see Farooq Kperogi, Professor of Journalism and Emerging Media at Kennesaw State University, Georgia, USA, as a troubler of Israel on account of his newspaper articles! I salute the courage of Ochonu, a Professor of African History at Vanderbilt University, Nashville, Tennessee, USA. The ability of Agbo to multi-task is legendary. He is a newspaper columnist, medical doctor and social justice advocate based in Houston, Texas, USA.

It is not surprising that the triumvirate chose Professor Toyin Falola, a professor of History, of the University of Texas at Austin who has married the town with the gown to write the Foreword to Dis Life No Balance. Indeed, in The Chat: A Conversation by the authors, they address the issues of japa phenomenon, restructuring of Nigeria, and what system of government suits our country, American Presidential system or the Parliamentary-Westminster type? In congratulating the authors, I note that they have not put themselves on a pedestal of analytical finality. As far as they are concerned, the views and arguments articulated in these essays “are necessarily tentative, provisional and self-critical.”


I salute the courage, patriotism and intellectual prowess of the writers who put together Dis Country No Balance. I welcome their intervention. I know they should appreciate what people are going through at home. In the Western world where they live, it is possible to put pressure on government on certain issues by collecting signatures all over. However, in Nigeria or some other African countries, you collect signatures as an academic exercise! Here, the language the oppressors understand is to organize and mobilize for civil action.

Our people in the Diaspora are encouraged to make contributions by drawing attention to the plight of Nigerians at home. However, nothing can change Nigeria unless people of progressive ideas are prepared to unite and organize the people for genuine change.

Ladies and Gentlemen, things are hard in Nigeria right now. People find it difficult to feed. Prices of food have gone up to the stratosphere. Those in government do not seem to care in the way they live ostentatiously. As of April 2023, N655 billion was distributed by the Federal Government to the three tiers of government. After the removal of subsidy, the figure jumped to N1 trillion monthly. But the people have generally been ignored inside their cocoon of poverty.

In November 2022, the National Bureau of Statistics (NBS) released a report to the effect that 130 million were “multidimensional poor”. The figure has since increased phenomenally since fuel subsidy was removed by the Tinubu administration. In the North, South, East and West, the masses are groaning. Unemployment is compounded by the sad news that some companies are pulling out of Nigeria.

This is going on despite the frequent trips of the President abroad seeking investments. A few weeks ago, the Senate President, Godswill Akpabio, advised President Bola Tinubu to restrict Ministers and Heads of Ministries Departments and Agencies of the Federal Government from travelling outside the country during the period of budget defence. Having regards to the parlous state of the economy, the demand should be extended beyond budget presentation and should include all public officers including legislators.

This takes me to the issue of ASUU and strikes and what Ochonu writes about it on page 70: ASUU strikes “have become counterproductive in several ways. The government usually waits them out until fatigue (and hunger) sets in and ASUU is desperate for a deal…ASUU leaders are not victims to be pitied. They are willing participants in a predictable theatre…”

We must admit that ASUU members have not been embarking on strikes just for fun! In other words, their strike is not an end in itself but a means to an end. The issues they raised were (and still are) legitimate. This is because government has abandoned tertiary institutions over the years, a state of affairs that made many academics to “japa”, looking for where the grass is greener. I know that if conditions at home were better, the writers of Dis Life No Balance would not have relocated.

The main curse of the perennial strike is that the federal Government entered into agreements with ASUU in 2009 and 2013 to inject a total of N1.3 trillion for the revitalization of public universities in six tranches, starting from 2013. But only N200 billion has been released since 2013. In 1992, the Education Tax Fund was established at the instance of ASUU. Today, all capital projects in public tertiary institutions are funded from TETFUND. The writers should be reminded that TETFUND is a product of the industrial action embarked upon by ASUU in 1992.

I, therefore, wish to join issues with them in proffering solutions to the problems of our country. Even though I will not attempt to usurp the job of the reviewer by going into details of the themes and sub-themes, I will take the liberty of a keynote speaker to talk on some salient burning issues in our country including the post of the Minister of Petroleum Resources, right to criticize decisions of courts, Failure of NNPCL to remit $35.3 billion collected from NLNG to Federation Account and refusal of federal government to recover of $62 billion from IOCs.

President Tinubu is not the Minister of Petroleum Resources

A former Governor of the Central Bank of Nigeria, Sanusi Lamido Sanusi, has advised President Bola Tinubu against occupying the office of the Minister for Petroleum Resources, saying such arrangement will make it difficult for the country to hold the Nigerian National Petroleum Corporation Limited accountable. According to him, “The exchange rate needs to be stabilised and we have to address the fundamental question, why is there no money coming in? Why is the NNPCL not able to bring in dollars? ... Where are the dollars? We need to shine a light on the NNPCL. The finance minister cannot tell you because he doesn’t have a monitoring system that reports to him. The finance minister can’t tell you how many barrels of petrol we produce and export. It is only the NNPCL that can give those figures.”

In August, President Bola Tinubu split the Ministry of Petroleum Resources with the appointment of Ekperipe Ekpo as Minister of State, Gas Resources; and Heineken Lokpobiri as Minister of State, Petroleum Resources. So, President Bola Tinubu is not the Minister of Petroleum Resources as his nomination was never forwarded to the Senate for screening as mandatorily required by section 147 of the Constitution. Therefore, the President should not appoint himself as Petroleum Minister like former Presidents Olusegun Obasanjo and Muhammadu Buhari. However, I must point out that NNPCL is now a limited liability company while the President is empowered to appoint the members of the NNPCL Board under the Petroleum Industrial Act.

Failure of NNPCL to remit $35.3 billion collected from NLNG to Federation Account


On April 27, 2019, the Senate Committee on Public Accounts held a public hearing on revenue generation drive for the 2021-2023 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP). During the hearing, the NLNG General Manager, External Relations and Sustainable Development, Mrs. Eyono Fatai-Williams, disclosed that from 1999 to 2019 the company paid dividends of over $18 billion to Nigeria through the NNPCL from 2004 to 2020. She also revealed that the NLNG paid $9 billion tax to the federal government from 2011 to date while $15 billion had also been remitted for feed gas to the NNPC since the inception of the company.

Based on the disclosure, the Senate Committee on Public Accounts asked the suspended Accountant-General of the Federation, Mr. Ahmed Idris who was in attendance, to confirm if the said sum of $33 billion was actually remitted to the Nigeria National Petroleum Corporation Limited that represents the interest of Nigeria in the NLNG. Mr. Idris said that the funds paid by the NLNG were not remitted to the Federation Account but warehoused by the NNPCL.

Consequently, the Public Accounts Committee of the Senate directed the Accountant-General to determine how much was actually remitted to the Federation Account, and if there was any deduction by NNPC; how much was deducted and who authorized the deductions and the exchange rates applied for the amount that was remitted over the years under review.

It may interest this distinguished audience to note that in 2020, 2021 and 2022, the NNPCL equally received the sums of $545.13m, $722.44m and $1.10 billion respectively as dividends from the NLNG. The total sum for the three years is $2.267 billion. From the information at our disposal, the said sum of $2.267 billion was not remitted to the Federation Account by the NNPCL. Therefore, the NNPCL is withholding a total sum of $35.3 billion from the Federation Account.

Refusal of federal government to recover of $62 billion from IOCs

Under the now repealed Deep Offshore and Inland Basin Production Sharing Contracts Act (the Act), IOCs were mandated to pay royalties to the Federal Government of Nigeria. Collection of these funds from the IOCs was not executed to the letter giving rise to an action at the Supreme Court by the Governments of Rivers, Akwa Ibom and Bayelsa States seeking to compel the Federal Government to collect all outstanding royalties under the Act. The Federal Government of Nigeria was by the decision of the Apex Court delivered in October 2018 ordered to collect the royalties for the past Eighteen (18) years.

Further to the judgment, an audit firm was appointed by the Federal Government of Nigeria to calculate the outstanding royalties. The result of this task showed that a whooping sum of $62 Billion was outstanding as royalties payable to the Federal Government by these IOCs. We are also aware that a request was made to the defaulting IOCs by the Federal Government to pay the outstanding royalties was ignored.

Right to criticize decisions of courts

From time to time, the Justices of the Supreme Court subject the judgments of their brethren to harsh criticism which are expressed in dissenting opinions. For instance, in Abacha v The State, Olufemi Ejiwunmi J.S.C. was peeved that his colleagues decided to discharge the appellant in spite of what his Lordship regarded as the overwhelming evidence of his involvement in the brutal murder of the Late Mrs Kudirat Abiola. In a critical dissenting opinion, his Lordship referred to the judgments of his colleagues as "the tyranny of the majority."

The Honourable Justice Cletus Nweze who passed on a few months ago never hesitated to write dissenting judgments whenever he feels that the decision of the Supreme Court could not be justified on legal grounds. Occasionally, his Lordship does so with some caustic words for his learned brethren in the Court. For instance, in the controversial case of Uzodinma v Ihediora, Nweze predicted that the majority judgment would hunt the Supreme Court for several year to come. Truly, the judgment has been haunting the Court since then and may continue until the judgment is revisited in future.

In the same vein, in Oghenovo & Anor v Governor of Delta State & Anor (2022) LPELR-48062(SC) the Supreme Court Court dismissed the appeal for want of locus standi. Convinced that the majority judgment was wrong the Honourable Justice Nweze delivered a dissenting judgment where he held that: “It would, in my view, be a grave lacuna in our system of public law, if a pressure group, like the federation, or even a single public-spirited tax payer, were prevented by outdated technical rules of locus standi, from bringing the matter to the attention of the Court to vindicate the rule of law and get the unlawful conduct stopped.

Incidentally, the leading judgment in the case of APC v Machina was read by the Honourable Justice Nweze. No doubt, the judgment was anchored on technicalities as the appeal succeeded on the ground that the respondent ought to have commenced the pre-election case by filing a writ of summons instead of originating summons. Out of the 5-member panel of the Court, Agim and Jauro JJSC vehemently disagreed with the majority judgment on solid legal grounds that are devoid of sentiment. In particular, the Honourable Justice Jauro stated that he had painstakingly read the affidavit in support of the originating summons and cannot identify any reference to crime to warrant the filing of a writ of summons in the case.

It is submitted that the right to criticize the decisions of courts in a democratic society is part of the fundamental right to freedom of expression guaranteed by section 39 of the Nigerian Constitution and article 9 of the African Charter on Human and Peoples Rights (Ratification and Enforcement) Act Cap A9, Laws of the Federation of Nigeria, 2004. It has been observed that. In a democracy, the three arms of government and all institutions including the courts are necessarily the subject of criticism. No public institution maintained with public fund is excepted from criticism scrutiny.


It is submitted while the general right to criticize decisions of courts is not disputed, lawyers and members of the public are not permitted to scandalise Judges or accuse them of corruption or misconduct without proof. In reacting to the controversial judgment of the court in Machina’s case, Kperoggi referred to the justices of the Supreme Court as “shameless judicial bandits.” With respect, Professor Kperoggi ought not to have engaged in such vulgar abuse in criticizing the judgment of apex court.

It is however pertinent to note that the media may report proceedings of a court, provided that the report is accurate. To preserve the integrity of court, section 133 of the Criminal Code provides that: “any person, who while a judicial proceeding is pending, makes use of any speech or writing, misrepresenting such proceeding, or capable of prejudicing any person in favour of or against any party to such proceeding, or calculated to lower the authority of any person before whom such proceeding is being heard or taken; or commits any other act of intentional disrespect to any judicial proceeding or to any person before whom such proceeding is being heard or taken, is guilty of a simple offence and liable to imprisonment for three months”

Rule 33 of the Rules of Professional Conduct for Legal Practitioners, 2007 stipulates that: “a lawyer or law firm engaged in or associated with the prosecution or defence of a criminal matter, or associated with a civil action shall not, while litigation is anticipated or pending in the matter, make or participate in making any extra-judicial statement that is calculated to prejudice or interfere with, or is reasonably capable to prejudicing or interfering with, the fair trial of the matter, of the judgment or sentence thereon”.

The right to criticize the Supreme Court and to question the finality of its decisions on political problems cannot be questioned in view of its preeminent role in the resolution of political, economic and social problems plaguing the society. Therefore, judges of the apex court should take solace in the case of ADEGOKE MOTORS LTD v. DR. BABATUNDE ADESANYA & ANOR (1989) 3 NWLR (Pt 109) 250 at 274; (1989) 5 S.C 113 at 129 where Oputa JSC who read the leading judgment, while adopting the statement of Justice Jackson of the United States Supreme Court, said, "We are final not because we are infallible; rather we are infallible because we are final”.

It is pertinent to note that the Justices of the Supreme Court have continued to welcome criticism of their judgments. Two years ago, while speaking in Abuja on the occasion of the 40th anniversary of his call-to-bar along with some Justices of the Supreme Court, Court of Appeal, Judges in other courts and senior lawyers in the country, the immediate past Chief Justice of Nigeria, Justice Ibrahim Tanko Muhammad said, “As critical stakeholders in the task of justice delivery, you have the responsibility of drawing our attention to where things are going wrong or on the verge of going wrong."

Justice Muhammad was emphatic when he said that It would not be out of place for lawyers to subject Justices in the country to criticism where necessary as a step to ensuring improvement in the justice delivery system. Justice Mohammad however said that such criticism must be offered in good faith and objectivity that will propel judicial officers on the bench to enhanced performance. I concur with the retired Chief Justice.

Liberal democracy or afro democracy?

Another issue treated in this book is the type of government that fits Nigeria. Let me extend this debate further by reviewing the call by former President Olusegun Obasanjo that Africans should abandon liberal democracy and adopt Afro Democracy. He has opined that the Western liberal democracy has not worked because it was “forced” on the continent and does not take into account the view of the majority of the people.

I make bold to say that Nigeria has never practiced Liberal Democracy which is a democratic system of government in which individual rights and freedoms are officially recognized and protected, and the exercise of political power is limited by the rule of law. What we have been practicing is Afro Democracy that allows a President to behave like a traditional ruler, who is the leader of a political party, imposes candidates on the electorate, disobeys court order, turns an election to a “do or die affair”, turns anti-graft and security agencies to tools of selective prosecution.

An Afro Democrat is a leader who manipulates the Constitution in order to transmogrify into a life President. He is a leader who sells the nation’s assets to himself and his cronies, a leader who heads the oil ministry and diverts public fund from the Federation Account, a leader whose contempt for the rule of law.



https://saharareporters.com/2023/12/14/we-need-mobilize-good-governance-femi-falana-san
Politics / Abubakar Badaru: N1.57 Trillion Budget Not Enough To Fight Insecurity by ogododo: 7:27am On Dec 14, 2023

The Minister of Defence, Abubakar Badaru, has appealed to the National Assembly to increase his ministry’s budget for the 2024 fiscal year, saying the N1.57trn allocated to it was not enough to fight the insecurity in the country.
The minister made the call on Wednesday when he appeared before a joint National Assembly Committee on Defence to defend the ministry’s 2024 budget proposal.

Badaru said the rising cost of operations and the increase in the price of diesel and fuel necessitated the call for an increment of the ministry’s allocation



In the 2024 budget, the Ministry of Defence was allocated N1.15trn for personnel; N116.5bn for overhead and N308.2bn for capital, totaling N1.57trn.

But the defence minister said the allocation was not enough to fight insecurity.

“I appeal to the distinguished senators and honourable members to review the ministry’s budget given the prevailing economic situation to enable the ministry to function effectively.

“You are already aware of the inflationary trend and the cost of diesel, petrol, and operational costs. The overhead is very low, and we urge you to support us to see how we can improve our overhead,” he said.


The minister said heads of military units consume large quantities of fuel and diesel to carry out their official duties.

He assured that all funds appropriated in the budget would be judiciously utilised.

“Instead of fighting in one sector, the bandits or insurgents run into another sector, that was the intent of the supplementary budget, and we assure the senators that we will track this expenditure and make sure the monies appropriated will be utilized fully, and we will account appropriately”.

The Chairman of the Senate Committee on Defence, Ahmad Lawan, said there would be no justification for huge budgetary allocation for the ministry if there was no improvement in security across the country.

He said it was paramount to establish how the money allocated to the ministry improved security.

“If you are given N100bn, how has it improved the security situation in the country? It will not augur well to appropriate money without justification,” he stated.



https://dailytrust.com/n1-57trn-budget-not-enough-to-fight-insecurity-defence-minister/

1 Like

Politics / Re: Fayoade Adegoke Appointed As New Lagos Police Commissioner by ogododo: 10:33pm On Dec 12, 2023
Nlfpmod.
Politics / Fayoade Adegoke Appointed As New Lagos Police Commissioner by ogododo: 9:09pm On Dec 12, 2023
The Inspector-General of Police, Mr Kayode Egbetokun, has appointed Fayoade Adegoke as the new Commissioner of Police for the Lagos State Command. The redeployment was contained in a signal signed by the Force Secretary, AIG Olanrewaju Oladimeji.

Adegoke will take over from Mr Idowu Owohunwa, who had been promoted to the rank of Assistant Inspector-General of Police in charge of the Federal Criminal Investigation Department, Alagbon Ikoyi, Lagos.

The News Agency of Nigeria (NAN) reported that before his new posting, Adegoke was in charge of armament at the Force headquarters in Abuja.

While serving in that capacity, he was sent for a course at the Nigerian Institute of Policy and Strategic Studies (NIPSS) in Kuru, Jos, Plateau State, where he graduated alongside 96 distinguished Nigerians in the Executive Course 45.


https://dailytrust.com/lagos-gets-new-police-commissioner/

7 Likes 1 Share

Career / Re: Suggestions: What Would Be The Minimum Hourly Pay Rate For The Nigerian Workers? by ogododo: 12:48pm On Dec 12, 2023
BluntCrazeMan:
Preamble:
During the 2023 campaign period, part of the things which Peter-Obi promised that he would do in order to increase the “productivity” of the government workers was to phase-out the “Monthly Salary” system, and introduce an “Hourly-Pay” system, where the hours of work by the workers are calculated and paid at the end of the agreed periods of payment.

He promised that there would also be flexibility of how the workers chose to be paid...
Either Weekly, Biweekly, or Monthly.

He envisaged that this system would make workers to have control over their works by knowing exactly what they are supposed to do, and do it.. Then they can clock-out at the first job in order to go to the next job where their expertise are also needed and clock-in.

There won't be any fear of paying double salary to anyone who works at more than one place at a time.


Basic “Hourly Pay Rates” are calculated and paid for 8 hours per day.
They are the payments which are taxed by the Government.
(Any other extra hours above the maximum 8-hours are counted separately and paid as overtime, with some additional added percentages to it)

Then, 5 days per week. (That is, the weekdays).
Works that were done on the weekdays are the ones that were taxed by the Government.
(For someone who had worked completely for 5 days in any week, any other extra days above the maximum 5-days are counted separately and paid as overtime, with some additional percentages to it. Nevertheless, if the person didn't work completely for 5 days within the weekdays, and he hoped to cover-up the days of work within the weekend, he doesn't get an overtime on the number of weekend days of work which are below 5 days in a week,, but those works which he did on the weekends would not be taxed)

Then, for those that are paid monthly, Each month consists of 4-weeks..
Thus, actually making it 13-months in a year..
(And not the 12 months we used to know)

..
NOW, TO THE MAIN REASON FOR OPENING THIS THREAD:

The current minimum basic monthly pay in Nigeria is N30,000..
Which translates to N187.50 for each hour of work,, or N1,500 for each day at work, and N7,500 for each week.


The current minimum basic hourly pay rate in the United Kingdom (both for Government Workers and Private Workers) is £10 (ten-pounds)..
Which is about N11,000 in Nigeria - going by the CBN’s official rate for conversion..

I am not advocating for Nigerians to be paid up to N11,000 per hour of work in Nigeria.. To be frank, that amount is too high for the Nigerian economy to carey.. but at-least, something reasonable enough which our economy can actually carry at the moment.

LET US JUST SUGGEST WHAT WE THINK IS FEASIBLE AND OBTAINABLE..

What amount (in Naira) should be the “Minimum Basic Hourly Pay Rate” for the Nigerian Workers,, Both the Workers in the Government Establishments and those in Private Firms, including those who are employed by individual employers.


....
..
My own personal Opinion...
I am suggesting any amount between N1,500 and N2,000... (Per Hour Ooo.. Not Per Day)
It is still too small compared to other countries, but it is actually what the economy can actually sustain for now, and at the same time, bring out the very best outputs in the workers..


(To put it into the contest we can understand:
N1,500 per hour means:
N12,000 per day.
N60,000 per week.
And N240,000 per month..
...
.
N2,000 per hour means:
N16,000 per day.
N80,000 per week.
And N320,000 per month..)



NOW, YOU CAN SUGGEST YOURS...
N5000 per hour.

1 Like

Politics / Over 6,000 Jobs Lost To Foreign Firms’ Exit, MAN Fumes by ogododo: 12:43pm On Dec 12, 2023
No fewer than 6,000 jobs are expected to be lost as five notable companies shut their production factories in Nigeria.

The PUNCH had reported that American multinational consumer goods company, Procter & Gamble, announced plans to terminate its on-ground operations in Nigeria, transforming the country into an import-focused market.

The manufacturing giant, headquartered in Cincinnati, Ohio, United States of America, joins a growing list of multinationals to dump Nigeria in 2023 owing to reasons that have revolved around business profitability.

Other multinational firms that have also left Nigeria in 2023 include Unilever Nig (home care and skin cleansing division), GlaxoSmithKline, Sanofi and Bolt Foods.



Ibadan Family Where Dad, Mum, Two Children Are Vulcanisers | Punch
The companies, in separate statements, alluded the painful decision to leave Nigeria to their plan to pursue an import-based model that would ensure business sustainability.

Preliminary checks by The PUNCH indicate that the departure of the five companies means approximately 6,000 direct and indirect jobs may have been lost.

P&G, the biggest of all five names, leaves Nigeria with a portfolio valued at $85bn with Nigeria contributing $50mn net sales. The company’s exit also means that approximately 5,000 jobs have been taken away from the economy.


GSK, on the other hand, left Nigeria with a market cap of N22bn. Even though the company had over 400 highly technical workers like pharmacists, microbiologists, biochemists, chemists, dentists, doctors etc, and more than 1000 other staff, it said around 160 employees would bear the brunt of this shift in business strategy in Nigeria.

Unilever Nigeria, on its part, leaves Nigeria with a home care and skin cleansing division worth N50bn. A total of 755 people worked for the company as of 2021.

In June, while speaking exclusively with The PUNCH, the President of the Manufacturers Association of Nigeria, Francis Meshioye, had said that some international manufacturing firms were planning to exit Nigeria as a result of the power crisis, coupled with the unpredictability of the country’s foreign exchange rate before it was recently unified.

Meshioye said, “The downsising of businesses in Nigeria, for instance, shows that businesses are not doing very well. So this power issue and other things have made some manufacturers, particularly international businessmen relocate from Nigeria to other countries.

“Therefore anything to reduce this energy cost will be very beneficial both to manufacturers and the masses in general. So it (power) is a high cost to us and a major driver in terms of cost. At the same time, it could lead to other things.”

Profits shrink

While many of the big firms that left Nigeria in 2023 have attributed their decision to business strategy, an analysis of the companies’ financials indicates shrinking profits while others have posted significant losses in recent memory.

For example, when Unilever Nigeria announced its exit from the home care and skin cleansing markets in Nigeria, the company said it did so “to find a more sustainable and profitable business model.”

However, a deep dive into the company’s financials showed a N1.09bn profit after tax loss in the third quarter of 2023.

Also, the company’s nine-month interim report showed a N389.30m profit before tax; however, a corporate income tax obligation of N1.48bn dragged the company’s bottom-line performance into negative territory.

Similarly, GSK, before announcing its exit saw its half-year revenue decrease to N7.75bn from N14.8bn.

Also, Sanofi, a French pharmaceutical multinational, which announced its exit from Nigeria last month, said “This strategic move is driven by our commitment to continually improve access to our medicines and to better serve our patients and the Nigerian health system.”

However, the company’s financials indicate that it had struggled to keep up profitability in Nigeria.

According to Ventures Africa, in 2019, May & Baker Nigeria announced a contract manufacturing agreement to produce four brands from Sanofi. This deal was an effort to boost local production.


It enabled May & Baker to use Sanofi’s facilities to manufacture flagyl tablets, suspensions, anti-infective medicines and anti-malaria drugs. By then, May & Baker’s revenue slowed by 9.57 per cent to N5.9 billion in the first nine months of 2019. Gross profits also fell by 9.36 per cent due to a sharp decline in sales.

At the top of the list of factors that have influenced the exit of international firms from Nigeria is the acute scarcity of foreign exchange. While announcing the decision to leave Nigeria, the Chief Financial Officer of P&G, Andre Schulten, said it was difficult to do business in Nigeria as a dollar-denominated organisation and the macroeconomic reality in Nigeria is responsible for its latest strategic decision.

https://punchng.com/over-6000-jobs-lost-to-foreign-firms-exit-man-fumes/
Politics / Re: ANALYSIS: Inside The Unrealistic Projections, Illegalities In Tinubu’s 2024 Budg by ogododo: 8:36am On Dec 12, 2023
Nawa oo, Nlfpmod.
Politics / ANALYSIS: Inside The Unrealistic Projections, Illegalities In Tinubu’s 2024 Budg by ogododo: 8:24am On Dec 12, 2023
Background
A budget is a vital tool for achieving a country’s economic strategy. It is designed to shape its entire socio-economic landscape for the year and the future, with the budget allocation serving as a guide for the government’s long-term economic vision. Simply put, the budget is really about how much revenue the government collects, what the revenue will be used for, and how shortfalls – deficits – between revenue and expenditure will be met (in this case, through debt accumulation). It is a powerful tool for the assessment of the transparency of the management of public finances. In this regard, various constitutional and legal provisions require the government to meet certain bars, thresholds and limits to ensure that the budgetary process ensures economic stability, debt sustainability, and prosperity for all.

In this analysis, we will review President Bola Tinubu‘s proposed 2024 budget, assess the compliance of the budgetary process with legal and constitutional provisions, and conclude with a position on what the 2024 budget means for Nigeria’s economic revival. One should provide a caveat that the federal government budget is not representative of the aggregate fiscal stimulus in the economy. State and local governments also stimulate the economy through taxes, programmes and projects. Without the consolidated budget of the states and local governments, this analysis is focused on the federal budget, which accounts for around 85 per cent of aggregate fiscal stimulus.

Key Aggregates and Assumptions in the 2024 Budget
How much does the FGN expect to collect?
The aggregate FGN revenue is projected at N18.32 trillion. Oil revenue is projected to increase by 344 per cent, relative to 2023, while revenue derived from the non-oil sector – corporate income tax, VAT, import and customs duty, etc – is projected at a 54 per cent increase over the 2023 forecast.


How does FGN plan to allocate its expenditure?
Aggregate expenditure is estimated at N27.50 trillion. The 2024 expenditure estimate includes statutory transfers of N1.30 trillion and non-debt recurrent expenditure of N10.26 trillion. Debt Service and Sinking Fund to retire maturing bonds issued to local contractors/creditors will cost N8.25 trillion and N243 billion, about 45 per cent of the expected total revenue.



Under the recurrent category, a total of N6.48 trillion (inclusive of N1.02 trillion for GOEs) is provided for personnel and pension costs. The aggregate amount available for capital expenditures in the 2024 budget is N8.70 trillion, higher than the 2023 provision of N8.43 trillion. There are further breakdowns on allocations to specific ministries.

How does FGN plan to finance the revenue shortfall relative to planned expenditure in the 2024 budget?
The 2024 budget deficit is projected at N9.18 trillion or 3.88 per cent of GDP, lower than the N13.78 trillion deficit recorded in 2023, mainly because of higher projected oil receipts. The deficit is projected to be financed from borrowings totalling N7.83 trillion, N298.49 billion from privatisation proceeds, and N1.05 trillion from the drawdown on multilateral and bilateral loans secured for specific development projects.

The underlying macroeconomic assumptions in the 2024 budget estimates are as follows.

– The average price of crude oil in the international market for the year will be $73.96 per barrel (pb).

– Oil production will average 1.78 million barrels per day (mbpd).

– The exchange rate of the naira to the US dollar will hover around ₦700/$1.


– The Gross Domestic Product (GDP) will grow by 3.76 per cent after adjustment for inflation.

– The country’s inflation rate will average 21 per cent.

Key Takeaway: The Numbers in the 2024 budgets do not add up.
A close look at some of the estimates throws up some questions and concerns regarding historical performance, underlying assumptions and the economy’s direction.


Revenue
The projected increase in federal revenue is overambitious relative to past trends, but one can justify some of the increase. The projected increase in oil sector revenue can partly be explained by applying a depreciated exchange rate to a higher daily oil production target than in the 2023 budget. Furthermore, some new previously uncollected sources of revenue, such as from the Development Bank of Nigeria and Galaxy Backbone, also add to higher revenue in 2024.

Nonetheless, the revenue assumptions may not be realisable. First, the daily oil production target of 1.78 million barrels in 2024 budget appears ambitious in an environment where daily oil production has averaged 1.2 mbpd for over two years. Achieving a daily average increase of more than 500,000 barrels per day in one year is a substantial challenge, given the recent decline in oil production, activities of illegal refineries, oil theft, and a weak external market. Furthermore, an undisclosed amount of oil receipt is already tied to swaps and forward contracts that will not accrue to the federation account in the foreseeable future. Similarly, non-oil receipts, especially from corporate income tax, have been pre-collected over the past few years in the “infrastructure for tax swap programme”. These all show that the revenue assumptions are either mere book entries or unrealistic.


Finally, the fiscal framework is unclear about the impact of subsidy removal on the budget. So, it is not immediately apparent that the sector has additional revenue due to subsidy removal. For example, the 2023 budget assumes a net oil revenue of 49 per cent after expending 51 per cent on cost, which included subsidy and operational costs of the oil company, 13 per cent derivation, and transfer to the Nigeria Police Trust Fund. In the 2024 budget, the projected ratio of net revenue to cost is 70 per cent to 30 per cent. While this appears to be an improvement, to the extent that other factors such as exchange rate and higher daily production assumptions contribute to the increase in the oil receipt, it is unclear whether or not the subsidy removal is making its way into the budget.

The same lack of realism is betrayed in the numbers on the non-oil revenue. A 45 per cent projected increase in income and consumption taxes in 2024 appears to be detached from the current economic realities. Projections for companies’ income tax (CIT), value-added tax (VAT), Import and Customs duties, the tax base of which are primarily driven by domestic demand pressures, appear oblivious of the decline in economic activities, closing down of factories, and lower consumption of VAT related goods due to ongoing economic hardship. Under the circumstances, the potential of achieving a 58 per cent increase in CIT or 225 per cent in consumption-based taxes is unrealistic, to say the least.


Expenditure
On the capital budget, in dollar and real value terms, the N8.7 trillion capital budget is much less than the N8.4 trillion capital budget of 2023. If one assumes that half the capital budget is based on imported components, which is now affected by a steep devaluation, and the other half is domestic input, which is now costlier due to domestic inflation of over 22 per cent, then the real purchasing power of the 2024 capital expenditure is about 67 per cent lower than the 2023 capital expenditure. In this event, it will be misleading to suggest that the capital budget has increased over that of last year. From the point of view of costs alone, citizens should brace for reduced government services and stimulus.

Some curious patterns in the capital expenditure budget merit further clarification. Some items, such as the capital expenditure of ministries, departments and agencies (MDAs), and state-owned enterprises (SOEs), appear to have increased in the predictable and realistic trend of around 10 per cent from the previous year. But the increase in some items defies economic logic. Grants and donor-funded programmes are projected to increase by 1,400 per cent (from N43 billion in 2023 to N585 billion) relative to 2022. Similarly, 100 per cent growth for capital expenditure of statutory transfers and TEFUND capital expenditure. Given these substantial growth trends, it would help to explain further why projects can be ramped up so quickly in a 12-month time frame.

Deficit
The projected fiscal deficit of 3.88 per cent of GDP will likely be underestimated at the end of the day, given the over-optimistic revenue projections and if the ambitious benchmark assumptions adopted do not materialise. Thus, the projected borrowing requirement of N7.8 trillion may require supplementary loans in 2024. Evidently, such additional loans will seriously challenge the government’s capacity to service current debts.

More importantly, it is concerning that a new government prefers to ramp up deficit spending in its first full-year budget. The realistic and prudent thing to do is to spend the first two years stabilising the economy by incentivising production. Higher production levels will increase the revenue base, create employment and enlarge people’s purchasing power. Subsequently, the momentum from these policies will put the economy on a path of fiscal responsibility as the tax base expands.

Constitutional and Legal Public Finance Management Regulations
The 2024 budget process breaches a few requirements of public finance management, including the Fiscal Responsibility Act (FRA) in a few areas. It is as if, at every step of the way, the government was determined to sidestep the law with the connivance of a supportive legislature. A few highlights are as follows:

The borrowing plan for the MTEF: In November, the President sought Senate approval for $7.86 billion and 100 million euros ($105.40 million) for the 2024-2026 borrowing plan. Key provisions of the FRA were disregarded in the process. The request did not indicate the potential sources of the debt and their potential uses. The borrowing plan may also have violated the FRA in other areas: critical supplementary details on the repayment plan, with pre-project and feasibility studies, cash flow statements and Environmental Impact Analysis were not made available. These are documents that would have to be produced by both creditors and line ministry and FMF officials before creditors part with their money and reach agreements. The Senate should have rejected a borrowing plan that does not satisfy these basic requirements in the first place. Furthermore, there is no way to assess whether the process complies with the FRA provision on what the government can finance by debt since the information was not provided to the Senate.

The 2024 budget is in breach of the FRA with respect to the size of the deficit, which at 3.88 exceeds the legal limit of 3.0 per cent.

Renewing the prospect for economic revival and revitalisation
A review of Mr Tinubu’s proposal suggests that any hope of a better future cannot be based on the 2024 budget. Nothing in the budget indicates that the government is about to set Nigeria in a direction different from the recent past. The lack of commitment to reviving private investment and production is too glaring. There is hardly any concern about the inflationary consequences of the fiscal policies, or at least there is no discussion of it. Citizens should brace for a more challenging year ahead.


https://www.premiumtimesng.com/business/business-interviews/650522-analysis-inside-the-unrealistic-projections-illegalities-in-tinubus-2024-budget.html
Politics / Re: Nigerian Government Confirms Another Collapse Of National Electricity Grid by ogododo: 9:07pm On Dec 11, 2023
Nawa oo, abi make we buy bamboo support am.
Politics / Nigerian Government Confirms Another Collapse Of National Electricity Grid by ogododo: 7:12pm On Dec 11, 2023
The Transmission Company of Nigeria has on Monday confirmed another collapse of the national power grid. The nationwide outage occurred in the afternoon, leaving power consumers across the country in total darkness.


Confirming the outage to Peoples Gazette, Ndidi Mbah, the TCN Public Relations Officer, said the restoration of the national power grid is already ongoing.

Mrs Mbah also added that the power supply has already been restored in Abuja and a few other areas. “Abuja has already been restored, so have different areas. Full restoration ongoing,” she said.


Today’s seizure marked the second collapse since mid-September when distribution firms nationwide reported unavailability of bulk electricity from federal infrastructure. President Bola Tinubu has promised an improved power supply to Nigerians, touting his capacity to make a dent in a challenge that has stunted the country’s development for decades.

https://gazettengr.com/nigerian-government-confirms-another-collapse-of-national-electricity-grid/
Politics / External Reserves Fall By $520m In Five Weeks – CBN by ogododo: 8:20am On Dec 11, 2023
The country’s external reserves fell by $520.22 in five weeks, figures obtained from the Central Bank of Nigeria revealed.

According to CBN’s data on movement in reserves, the figures which stood at $33.396bn as of October 31, 2023 fell to $33.004bn as of December 7, 2023.

The CBN had earlier revealed that the reserves which commenced January 3, 2023, at $37.07bn fell to $33.237bn as of September 29, 2023.

Speaking recently at the Chartered Institute of Bankers of Nigeria’s 58th Annual Bankers’ Dinner and Grand Finale of the Institute’s 60th anniversary in Lagos, the Governor, CBN, Olayemi Cardoso, said, in recent years, the continuous decline in Nigeria’s crude oil production had further weakened the already inadequate economic diversification.

He said, “This has led to a decline in government revenue and foreign exchange inflows, while simultaneously witnessing a growth in public expenditures and a deterioration in macroeconomic indicators, which has constrained our policy options. Consequently, we have seen the fiscal deficit and public debt increase, placing additional strain on external reserves and contributing to exchange rate instability.”

A thorough assessment of the economy revealed significant challenges, including high and rising inflation, inadequate foreign exchange supply, depreciation of the exchange rate, limited external reserves, weakened output, and high unemployment, he said.

CBN says counterfeit notes in circulation as naira scarcity persists
These challenges, he added, had led to increased interest rates, discouraging investments in productive activities.

Within the banking system, he said, high inflation had affected asset quality and solvency ratios.

Additionally, the persistent depreciation of the naira poses a significant risk for domestic banks with foreign exchange exposures, Cardoso said.

However, he added, “The removal of petrol subsidy and the adoption of a floating exchange rate, among other government policies, are anticipated to have positive effects on the economy in the medium-term.

“These measures are expected to enhance investor confidence, attract capital inflows, stimulate domestic investment, and ultimately improve the level of external reserves.”

https://punchng.com/external-reserves-fall-by-520m-in-five-weeks-cbn/

Politics / Experts Fear More Multinationals’ Exit Over Forex Challenges by ogododo: 8:46am On Dec 10, 2023
The decision by Procter & Gamble to discontinue manufacturing operations in Nigeria, opting for an import-only model, is indicative of a broader trend that may see more companies shutting down due to the ongoing forex challenges.

This is according to experts who spoke to Sunday PUNCH.

The American company said it was shutting down manufacturing operations due to challenges operating as a dollar-denominated organisation and attributed its strategic shift to the macroeconomic conditions in Nigeria.

The Chief Financial Officer of Procter & Gamble, Andre Schulten, who announced this information at a conference in New York, revealed that the company had a portfolio valued at $85bn with Nigeria contributing $50m in net sales.


This Nigerian Boy Holds The Guinness Record For The Most Skips On One Leg | Punch
At least five multinationals have winded down operations in Nigeria in the last 10 months.

One of these firms is GlaxoSmithKline Consumer Nigeria – the firm announced plans in August to exit the country after 51 years of operations.


Speaking with Sunday PUNCH, the Chairman of the Nigerian Association of Small and Medium Enterprises, South-West region, Solomon Aderoju said Nigeria should expect more exits of companies due to the challenging business climate.


According to Aderoju, P&G imports some of the raw material for manufacturing which will be at a very high cost due to the high exchange rate.

He said, “Nigeria should expect more exits if nothing is done to make the business environment conducive. P&G is not the first to leave, more will leave.

“They have many reasons; it could be because of high inflation, high exchange rate, and insecurity, the problems are humongous,” he said.

The Director General of Lagos Chamber of Commerce and Industry, Chinyere Almona, said in a note to Sunday PUNCH, “Over the last few months, there has been a consistent increase in exit plans or a reduction in involvement in the Nigerian market by the multinationals, and this trend is worrisome.”:


https://punchng.com/experts-fear-more-multinationals-exit-over-forex-challenges/
European Football (EPL, UEFA, La Liga) / Liverpool Vs Manchester United (0 - 0) On 17th December 2023 by ogododo: 8:40pm On Dec 09, 2023
Liverpool vs Manchester United 17/12/2023 5:30pm
European Football (EPL, UEFA, La Liga) / Re: Crystal Palace Vs Liverpool (1 - 2) On 9th December 2023 by ogododo: 3:16pm On Dec 09, 2023
Mo Salah. 1-1
Politics / Don’t Leave Nigeria, Tinubu Urges Multinationals by ogododo: 6:49am On Dec 09, 2023
President Bola Tinubu on Thursday told multinationals operating in Nigeria on Thursday that his administration was determined to remove all bottlenecks to the smooth running of their businesses.

This was as he said no obstacle was too big to be removed to make Nigeria a safe-haven for large-scale investments.

“We are very focused on resolving all investment-related issues. There is no bottleneck that is too difficult for us to remove in our determined march toward making Nigeria the African haven for large-scale investment in all key sectors.

“We need each other,” the President told a visiting delegation of the management of Shell Group led by its Global Integrated Gas and Upstream Director, Ms. Zoe Yujnovich, at the State House, Abuja.


The President’s remarks followed the recent exodus of several multinational companies from the country in the past months.

A PUNCH analysis of separate notices filed by several companies show that at least five multinationals have wound down operations in Nigeria in the last 10 months.

But in a statement signed Friday by the President’s Special Adviser on Media and Publicity, Ajuri Ngelale, Tinubu expressed confidence in the potential for increased investment from Shell Petroleum Development Company of Nigeria.


Emphasising Nigeria’s longstanding ties with Shell, which date back to the discovery of the country’s first commercial oil field in 1956, the President assured the Shell delegation of his administration’s commitment to securing and fostering both existing and new investments.

“We have made progress since our last meeting. I will continue to support and encourage you on this path.

“There is no doubt that there is a significant focus on investment in and around the continent. I am spearheading Nigeria’s global march for new investments at home.


“In view of our long-term relationship that has been established over the years, we want you to do more, and we are ready to encourage you in every way possible,” he added.

Shell’s Global Integrated Gas and Upstream Director, Ms. Zoe Yujnovich, on behalf of the Shell Group, affirmed the company’s intent to sustain its investment legacy in Nigeria.

This includes a particular focus on deepwater and gas sector opportunities, with a pledged investment of $1bn over the next decade to enhance the domestic gas value chain and support the Nigeria Liquefied Natural Gas project.

She announced an upcoming $5bn investment in the Bonga North project, located off Nigeria’s coast, saying it underscores Shell’s commitment to the country’s energy sector.

Ms. Yujnovich expressed eagerness to proceed with this significant venture and noted the series of prospective investments Shell is considering in Nigeria.

https://punchng.com/dont-leave-nigeria-tinubu-urges-multinationals/

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Politics / Oil Marketers Lament As Inflation, Forex Shoot Up Operating Costs by ogododo: 9:58am On Dec 08, 2023
Accelerating inflation and the foreign exchange shortage in the country have been having adverse impacts on the businesses of oil marketers, OPEOLUWANI AKINTAYO writes

The country’s high inflation trend and scarcity of foreign exchange are beginning to take a serious toll on the businesses of oil marketers. They claimed that the cost of a truck of Premium Motor Spirit or petrol had risen by 268 per cent, since the government ended the subsidy regime on May 29.

The Chairman of the Independent Petroleum Marketers Association of Nigeria, of Satellite Depot, Akin Akinrinade told The PUNCH that inflation that resulted from the badly managed foreign exchange had pushed one truck of petrol from N7m in May to N25m currently.

The forex has been badly managed and this has impacted on the landing cost of PMS, and by extension the pump price. The cost of doing business has also gone up astronomically. A truck of petrol that was N7m in May this year is now N25m,” he said.

According to Akinrinade, the downstream business has been unstable as a result of the high cost of products.

“Business is really unpredictable now. Bank lending rate is also very high, contributing to the high cost,” he said.

The PUNCH reported earlier this month that oil marketers were beginning to sell off their filling stations over scarcity of petrol, and their inability to afford products from private depots due to high cost.

Findings showed that the Nigerian National Petroleum Company Limited had cut down on product supply to IPMAN members due to scarcity, forcing many to sell off their stations to bigger downstream companies.

“If our members say they need about 100 trucks of petrol, what we get from NNPC would be five trucks, and it does not go round. Since NNPC is still the only one importing, they sell at an official price of N556 per litre to DAPPMAN while DAPPMAN sells to us at N616 per litre. When we add transportation and charges, the pump price would be around N630 per litre.

“Who would buy such from us at N630 per litre? And remember that our members have major marketers to contend with. MOMAN sells at lower prices because they get products directly from NNPC. But our members have to buy from DAPPMAN at N616 per litre,” a source close to the matter told The PUNCH.

According to the source, IPMAN members are closing shop because they are running at a loss and cannot afford to buy products from DAPPMAN due to the high cost and lower patronage.

“The product is scarce to get, and even banks are unwilling to give us loans because they do not want their money to be tied down,” the source added.

The National Controller Operations of IPMAN told The PUNCH that members of the association were being sidelined and frustrated out of business.

“Your findings are true because our members are not getting products, and we are beginning to sell our stations because we can’t meet up with high prices of products at private depots. They are frustrating our businesses.

“For instance, the challenge that the satellite depot has was due to vandalism of the pipeline that brings product here. NNPC told us the pipeline had been repaired and that we would get the product but up till today we are yet to get the supply.

“But maybe things will be fine when the refineries finally begin production in December. But as we speak, we are not getting supply from NNPC and we can’t even afford products from DAPPMAN. And once this depot doesn’t get the product, you can be rest assured that the whole of Lagos and South-West will be affected,” he told The PUNCH.

A former Chairman of MOMAN and Chief Executive Officer, 11 Plc, during an interview, told The PUNCH that the removal of fuel subsidies by President Tinubu in May had caused an increase in prices of petrol, and would result in major downstream companies buying over smaller ones.

“Since there is no longer a subsidy, smaller companies would not be able to sustain their businesses, and would be bought over by bigger companies like ours,” he said.

The removal of the petrol subsidy by President Tinubu in May spurred the prices of petrol to skyrocket from N185 per litre to between N585 and N620 in Lagos State and its environs, and N700 and above in the North.

A source in the NNPCL, who anonymously, because he was not authorised to speak on the matter, told The PUNCH that the company was not under any obligation to supply products to other marketers since the downstream sector was deregulated.

“Whatever NNPC is doing now is to relieve the sector. The company is not under compulsion to supply the market. Petrol is now deregulated and marketers have been issued with import licences. So, let them go ahead and import. Our own stations have products and we are selling to the public,” the source asserted.

Independent marketers have been unable to import products due to the significant depreciation of the local currency against the dollar and the increase in crude oil prices in the international market.

Brent price started the year at $76.93 per barrel and went up to $96.16 in September, before dipping to $74.29 on Thursday.

The naira has weakened from 460/$ in May to 887.16/$ on Thursday, following the unification of the country’s exchange by the Central Bank of Nigeria in June.

The development comes on the heels of a recent call by the Nigerian National Petroleum Company Limited and other stakeholders in the oil and gas sector for the development of new energy sources as part of efforts towards the realisation of the United Nation’s zero emission targets by 2050.

The Managing Director and Group Chief Executive Officer of NNPCL, Mele Kyari, during an oil and gas conference in Lagos, pushed for a reduction in costs of renewable energy production in Nigeria, stating that current high cost might hamper adopting it as the country journeys towards energy transition.

According to Kyari, high production costs would impede the adoption of clean energy in Nigeria.

In his words, “Cost is, therefore, another limitation of renewable energy and the financial barrier. If not addressed, it would impede the adoption of clean energy, especially in this part of the world with very limited economic resources.”

Acknowledging the role of renewables in helping to mitigate the adverse effect of climate change and reduce dependency on finite resources, Kyari added that the technologies of renewables were still struggling with many limitations that were yet to be addressed.

He listed some of the challenges to include the challenge of intermittency, reliability and predictability due to geological constraints and limited control of man and nature.

Kyari added: “While battery storage technology has addressed some of the intermittency challenges of renewable energy, the storage technology itself has challenges.”

He stated that the petroleum industry which had fuelled the progress of mankind for over a century was also confronted with its own inherent challenges and constraints associated with its continued production and usage.

According to Kyari, fossil fuel continues to be a finite resource of energy which means that the world’s reliance on it is unsustainable, bemoaning that the process of extraction and consumption of fossil fuels continue to leave a significant adverse carbon footprint on the environment especially if not done responsibly.

“As explorationists, we play a vital role in shaping the future of the oil industry. It is through your dedication, expertise and relentless pursuit of knowledge that will continue to unlock new frontiers, discover reserves and push the boundaries of what is technologically and economically feasible,” he averred.

While adding his voice to the need for new energy sources, the former Executive Secretary of the Nigerian Content Development and Monitoring Board, Simbi Wabote, pointed out that the world stands as a key point where adequate considerations must be made to address the energy dilemma which is achieving an appropriate balance between energy security, sustainability and affordability.

He stated that the role of petroleum explorationists was quite important, pointing out that their discoveries and evaluation were essential in establishing reliability and sustainability of the size of oil and gas reserves as a key component of the energy mix.

He noted, “The oil and gas industry has been a key pillar of global energy as it has powered and continued to power industrial and economic development across the world. I understand that we have about 208 trillion cubic feet of proven gas reserves and about 600 TCF of unproven reserves. I hope we will put some effort into firming up the recoverable volumes on these unproven reserves.”

He stated the need to develop the proven reserves considering that gas was no longer a transition fuel, but a destination fuel.

He stated the call by stakeholders for other forms of energy must ensure that there is sustainable thinking behind any of such energy sources deployed.

On his part, the Chairman and Chief Executive Officer, AMNI, said for Nigeria to grow its economy and to lift millions out of poverty, there must be renewed and intentional focus on repositioning its oil and gas industry to take advantage of the future demand.

He added that Nigeria must strategically diversify its energy portfolio mix to address the challenge of carbon emission while also providing sustainable and affordable energy to grow its economy, advising that investing in gas development projects and renewable sources would pave the way for a more sustainable and resilient energy future

The Managing Director of SNEPCO, Elohor Aiboni, said Nigeria as a country was vulnerable because of its dependency on fossil fuel for economic growth and low oil resource resilience.

She said 50 per cent of projected oil production was at risk in the event of Nigeria’s rapidly growing demography.

“With our population projected to double by 2050, it means that we are going to be creating more demand for the already lean resources we have if we do not do something about it,” she warned.

She stated that Nigeria had a huge energy gap despite its huge reserves, urging the urgent need to close the gap.

https://punchng.com/marketers-lament-as-inflation-forex-shoot-up-operating-costs/

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European Football (EPL, UEFA, La Liga) / Crystal Palace Vs Liverpool (1 - 2) On 9th December 2023 by ogododo: 8:19pm On Dec 07, 2023
First place in the Premier League table is up for grabs on Saturday lunchtime, as Liverpool make the trip south to face Crystal Palace at Selhurst Park.

The Reds ruined Chris Wilder's Sheffield United return with a 2-0 beating of Sheffield United in midweek, while discontent grew in the capital as Palace lost to Bournemouth by the same scoreline


Christmas cheer is in limited supply at Selhurst Park at the minute, as Roy Hodgson's side were booed off the pitch while the veteran coach was allegedly targeted by a bottle thrown from the stands following a dampening home defeat versus Bournemouth.

A pair of headers from Marcos Senesi and Kieffer Moore either side of the half-time whistle condemned Palace to their third defeat from their last four games during a miserable winter spell, before Hodgson launched into a tirade about "spoiled" Palace fans, many of whom headed for the exits once Moore's header flew in.

With just a solitary point taken from their last four Premier League fixtures, the Eagles - who often sit happily in mid-table mediocrity - are sleepwalking towards the danger zone in 14th place in the table, although a nine-point cushion still separates them from Everton.

A spate of untimely injury problems have not helped the hosts' cause in recent weeks, but fuel is constantly being added to the fire surrounding the future of Hodgson, especially with Steve Cooper believed to be on the brink of the Nottingham Forest sack and apparently being lined up as his successor.

For the time being, Hodgson can only place his focus on his training ground drills as Palace aim to end a five-game winless run at Selhurst Park - where their last three have all ended in defeat - but the home crowd will likely head to Selhurst on Saturday in hope rather than expectation.
Politics / FG Raises Exchange Rate For Cargo Clearance To N951/$ by ogododo: 9:47am On Dec 07, 2023
The Federal Government through the Central Bank of Nigeria, has raised the exchange rate for cargo clearance from N783/$ to N952/$.

This is coming barely three weeks after the rate was increased from N757/$ to N783/$.

The PUNCH reported in November, that the exchange rate for cargo clearance was raised from N757 per dollar to N783 per dollar, representing a 3.4 per cent increase.

However, our correspondent observed on Thursday that the new rate has reflected on the portal of the Nigeria Customs Service.

https://punchng.com/fg-raises-exchange-rate-for-cargo-clearance-to-n951/

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Politics / Re: Hoodlums Attack Lagos Task Team At Tincan Port by ogododo: 6:10pm On Dec 06, 2023
post=127347033:

Can you even read at all ?
Education no be scam ooo....

You don finished selling your dead vultures. How can people sabotage gofarment, dem no sey when election come, na dem dey de use dabaru am. So gofarment no get mouth.
Politics / Re: Hoodlums Attack Lagos Task Team At Tincan Port by ogododo: 11:43am On Dec 06, 2023
Nlfpmod, na small remain, dem go dey collect rent for us wearing cloth for road.

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Politics / Hoodlums Attack Lagos Task Team At Tincan Port by ogododo: 10:11am On Dec 06, 2023
Pandemonium ensued on Tuesday when hoodlums attacked officials of a task team belonging to the Lagos State Government during the road clearance exercise to open up the clogged Tincan Port access roads.

Our correspondent learnt that the task team which comprised the Lagos State Truck and Cargo Operators Committee, Lagos State Traffic Management Authority, Nigeria Ports Authority, and the Nigeria Police, witnessed the brutal attack on the members.

The task team had on Monday embarked on the exercise to open up the inbound section of the Tincan Port access road as part of efforts to ensure free flow of traffic, enhance trade facilitation, and seamless evacuation of cargoes from the port. The team continued the exercise on Tuesday to create and implement a single-lane policy for truck movement to allow access for other road users.

However, our correspondent gathered that five minutes into the commencement of the exercise from Tincan’s second gate, thugs disrupted the operation.

During the incident, a LASTMA official sustained injury and also lost his phone, one of the thugs was arrested and taken to the task force office at Oshodi.

The road clearance team tactically withdrew from the Tincan Port Gate to prevent a total breakdown of law and order and high casualties.

PUNCH Metro gathered that efforts to clear the roads of indiscriminate parking of trucks, tankers, and checkpoints to promote ease of doing business, trade facilitation, and seamless evacuation of cargoes from the Tincan Port corridor had continued to be sabotaged.

Reacting to this, a source close to the team condemned the attack. “The act was unfortunate and I highly condemn it. Because the people who came out to disrupt this exercise are supposed to join hands with us to promote the ease of doing business. But unfortunately, they ended up attacking us. They are supposed to join hands to sanitise the road,” the source said.

Meanwhile, several attempts to get the reaction of the Lagos Police Public Relations Officer, Mr. Benjamin Hundeyin, or the Director of Publicity, LATSMA, Mr. Adedayo Taofiq, were not fruitful as they didn’t pick up the calls sent to them.

https://punchng.com/hoodlums-attack-lagos-task-team-at-tincan-port/?amp

Politics / Rivers Police Arrest Four Cops For Alleged Kidnapping by ogododo: 7:45am On Dec 06, 2023
The Rivers State Police Command has confirmed the arrest of four operatives involved in the alleged abduction of a hotel worker in Port Harcourt and consequently demanded a ransom to release him.

The hotel worker simply identified as Darlington was reportedly arrested on his way to work at about 8pm last Friday when the police officers accosted him near Choba in the Obio/Akpor Local Government Area of the state.

Our correspondent gathered that the policemen searched the man’s phone and body, but found nothing incriminating on him.

However, after discovering where the man was working, the policemen reportedly kidnapped him and threatened that they would kill him as they had done to some other victims who refused to cooperate with them in the past.


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While insisting on the N1m ransom, the operatives had even threatened to throw his body into the Choba River after killing him and tagging him a kidnapper.

The policemen were also said to have tied the man inside a vehicle and patrolled with him until they finally took him to a bush around Aluu in Ikwerre Local Government Area of the state.

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But luck ran out of the police officers when the matter was reported to the Divisional Police Officer who disguised and started negotiating the payment of ransom with the rogue officers pretending to be father of the victim.


The DPO then pleaded with them to meet him up at a certain location where he will pay them the N1 million ransom, but on getting there, the DPO and his team disarmed them and arrested them.

The state Commissioner of Police, Olatunji Disu, confirmed the arrest of the officers at an event in Port Harcourt, saying they were in custody.

CP Disu stated, “I heard about that incident on social media, and despite that, I went to town with my officers to work on it.

I’m confirming to you that officers who had contact with that victim have been arrested. I’m waiting for complaints from the victim to know what and what to really look out for.

“The officers are there. We are not hiding anything and when the complaints come we will give you further details on what we have done about it.”


https://punchng.com/rivers-police-arrest-four-cops-for-alleged-kidnapping/

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Crime / NDLEA Raises Alarm Over Online Drug Sales by ogododo: 8:36pm On Dec 05, 2023
The National Drug Law Enforcement Agency has raised the alarm over online drug sales, describing it as a new dimension in the drug abuse problem in the country.

Delivering a keynote address, titled, ‘Uprise in Drug Abuse, Role of Parents’, at the FIDA Week 2023 celebrations, organised by the International Federation of Women Lawyers in Ilorin on Tuesday, the state commander of the NDLEA, Mohammed Ibrahim, said the menace is a global phenomenon, common among the youth.

He said, “We call it the darknet where drugs are being sold online without the seller and the buyer knowing each other. All they need is contact and they make the call and the substance is delivered. It’s very common here now. What we’ve been doing is to see how to intercept them.

“Especially, the waybill coming from neighbouring states through some commercial vehicles. We’ve intensified our patrol system around the state. We’re gathering intelligence and we’re making very good use of it. We’ve intercepted quite a number of them through control delivery.




“We know as the yuletide period is approaching, a lot of such would be happening. Thank God, the state governor, Mallam Abdulrahman Abdulrazaq, is being proactive as he has supported us with the provision of infrastructure to tackle the menace”.

The NDLEA boss, who said that the prevalence of drug use, drug abuse and drug addiction had led to an increasing crime rate in society, added that there is no crime without a drug undertone.

He, thus, suggested some protective factors against the menace such as family harmony and bonding, affection and love for family members, and proactive and positive parenting, while he advised that parents should not be judgemental but ensure effective monitoring of their children, among others.


Also speaking, the state chairperson of FIDA, Gloria Okoduwa, said that phones have taken children away from many parents, adding that family discussion had now been neglected.

She announced plans by the FIDA to take a campaign against drug abuse and its effects to major markets and other public places in the state to drive down the message, saying that many parents have failed the generation with their poor parenting attitude.

“I think this generation is wiser than us. They go all out to explore and parents are rather too busy with careers and businesses. We need to come together and fight the monster that wants to take our children away from us. There are so many youths languishing in rehabilitation centres because of this monster called drugs”.


She encouraged close monitoring of parents on their children, saying that present socioeconomic situations had made parents not have time for their children any longer.

Chairperson of the FIDA Week 2023 committee, Hajia Muinat Adeleye, who is also the zonal legal officer of the NDLEA, Zone I, Oyo state, lamented that drug abuse is rampant in the country.

“Almost every home is affected. Right from primary, and secondary schools and university, drug abuse is the trend. So, as mothers and as lawyers, we have to lend our voices. There’s a campaign against drug abuse all around, but it’s like society is yet to come to terms with how grievous the problem is to society. You hear of alarming rates of kidnapping, armed robbery, rape, terrorism, disrespecting parents, truancy. All are because of the influence of drugs.

“Parents should pay more attention to their children rather than putting all their concentration on their careers and businesses. All parents should come back home because if our future is gone, we may no longer have a future to hold on to”, she said.


She advised parents not to buy phones for under-age children.

Meanwhile, the Kwara State Government, in collaboration with the National Drug Law Enforcement Agency has said that it is set to begin sensitisation in every part of the state to curb drugs and substance abuse.

The Supervising Commissioner of the Ministry of Youths Development, Hon Usman Yunusa-Lade disclosed on Tuesday in his office during a meeting with officers of the NDLEA in the State.

Lade noted that the collaborative initiative was aimed at kickstarting a comprehensive and far-reaching campaign with robust sensitization programmes designed to tackle the root causes of drug abuse and raise awareness about its detrimental effects in society.

According to him, the strategic meeting between the Kwara State Ministry of Youths Development and the NDLEA is a significant milestone in the concerted effort to combat drug abuse in the State.

“What makes this endeavour particularly commendable is the staunch backing it has received from the Executive Governor of Kwara State, Mallam Abdulrahman Abdulrazaq”, he said.
https://punchng.com/ndlea-raises-alarm-over-online-drug-sales/

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European Football (EPL, UEFA, La Liga) / Re: Manchester United Vs Chealsea (2 - 1) On 6th December 2023 by ogododo: 6:26pm On Dec 04, 2023
Manu go hear am.

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