₦airaland Forum

Paperwhite:
Chai! Meanwhile the chronic liar VP Osinbajo said https://www.nairaland.com/4463608/there-no-corruption-buharis-government#66886214

My brother wait till after 2019 when you will be hearing shocking news of horror about this useless government

EXCLUSIVE: N10billion Adeosun Largesse: Saraki’s N’Assembly paid N5.6billion to 44 unqualified firms — FULL LIST

April 23, 2018 Kemi Busari

Nigeria’s National Assembly led by Senate President Bukola Saraki and House Speaker Yakubu Dogara paid out N5, 638, 664, 700 to 44 unqualified contractors, PREMIUM TIMES and UDEME can authoritatively report today.
The payment was made from the controversial N10billion cash illegally passed to the federal legislature by the Minister of Finance, Kemi Adeosun, and Accountant General of the Federation, Ahmed Idris.
To take possession of the N10billion cash, most of which was spent on exotic cars, the National Assembly submitted a list of 82 contractors which it claimed it was owing and the amount due to each contractor. It was based on that single document that the cash management office at the finance ministry approved the funds.
Multiple checks by PREMIUM TIMES however revealed that 44 of the companies to which the contracts were awarded and paid are not on the database of the Bureau of Public Procurement (BPP).
Surprisingly, 17 of these 44 companies are not even registered with the Corporate Affairs Commission (CAC) which makes them ineligible for federal jobs.
THE INFAMOUS LIST
To be eligible to handle contracts for the Nigerian government, prospective bidders are usually requested to provide evidence of registration on the database of Federal Contractors, Consultants and Service Providers by submitting Interim Registration Report or valid certificate issued by the BPP.
In fact, on December 11, 2014, the then Secretary to the Government of the Federation, Anyim Pius Anyim, wrote to ministries, departments and agencies informing them of a presidential directive “that any Federal contractor, consultants or service provider that is not registered with the National Database of Federal Contractor, Consultants and service provider domiciled at the Bureau of Public Procurement will no longer be allow to do business with the Government.”
The circular, which was also sent to the clerk of the National Assembly, added, “This is to facilitates the maintenance of a National Database of the particulars, classification and categorization of Federal Contractors, consultants and service providers as required by the provision section 5(h) and 6(1) (f) of the Public Procurement Act, 2007.”
But multiple checks by this medium between April 15 and 23, 2018, show that of the companies the National Assembly awarded contracts to, 44 of them are not on the database of BPP, in what is a clear violation of the procurement law.
Companies not on the BPP database include: Mushin Motors, Assamad Procurement and Services Limited, Kaffe International Investment Limited, Quantita Services Nigeria Limited, Dua Creations Limited, Lachoso Engineering Systems Nigeria Limited, Navadee Integrated Nigeria Limited, Starcraft Integrated Limited, Wadatu Global Company Limited, Bimfirst Multiventures Limited, Pimpex Engineering and Construction Company Limited, Three Brothers Concept Nigeria Limited, Braimuh Nigeria Limited, Unified Marketing Limited, H and H Inter-Biz Services, Nsa-Nsa Communication and O.B. Global Intertech Limited.
Also not on the database are: A.A. Marmaro Nigeria Limited, Nwezei Merchandised Limited, Jaaniyat Inter Concept Limited, Popona Star Nigeria Limited, Yujam Nigeria Limited, D.C. Okika Nigeria, Paki International Motors Limited, Afric Capital Nigeria Limited, Liberty Synergy and General enterprises, Pranav Contracting Nigeria Limited, Dee Ex Associate Limited, Shazamzam Construction Limited, Omatie Global, Bilmos Nigeria Limited, Clario View Nigeria Limited, Esyad Nigeria Limited, Omaiauto Limited and Profile Project Nigeria Limited
Others are; Chancellors Court Limited, M/S Atlantic Authos Limited, Bestline Nigeria Limited, Geoafriqcom Sourcing and Services Limited, DCN Nigeria Limited, Emerging Giant, GSES Nigeria Limited, Saramin International Ventures Limited.
Apart from not being on the BPP database, 17 of these companies are not registered with the Corporate Affairs Commission (CAC).
Established in 1990, the CAC regulates the formation and management of companies administering the Company Allied Matters Act, including the regulation and supervision of the formation, incorporation, management and winding up of companies.
Companies not on BPP database and not registered with the CAC are: Mushin Motors, Dua Creations, Starcraft Integrated Limited, Wadatu Global Company Limited, Pimpex Engineering and Construction Company Limited, H and H Inter-Biz Services, Nwezei Merchandised Limited, Jaaniyat Inter Concept Limited, and Bilmos Nigeria Limited
Others are; Clario View Nigeria Limited, Esyad Nigeria Limited, Omaiauto Limited, Chancellors Court Limited, M/S Atlantic Authos Limited, Geoafriqcom Sourcing and Services Limited and GSES Nigeria Limited.
A JAILABLE OFFENCE
By allowing unqualified firms to get government jobs, the leadership of the National Assembly (the Senate President, Speaker of the House, Clerk of the National Assembly and other officials) appears to have violated sections of the Public Procurement Act 2004, especially for colluding with the unqualified firms to defraud government
“Collusion shall be presumed from a set of acts from which it can be assumed that there was an understanding, implicit, formal or informal, overt or covert under which each person involved reasonably expected that the other would adopt a particular course of action which would interfere with the faithful and proper application of the provisions of this Act,” Section 9 of the Act said.
If found guilty, the officials are liable to “a cumulative punishment of : (a) a term of imprisonment of not less than five calendar years without any option of fine ; and (b) summary dismissal from government services.”
The affected companies, on conviction, will also be liable to “a cumulative penalty of : (a) debarment from all public procurements for a period not less than five calendar years ; and (b) a fine equivalent to 25 per cent of the value of the procurement in issue.”
Every director of the companies as listed on their records at the Corporate Affairs Commission shall also be liable on conviction to a term of imprisonment not less than three calendar years but not exceeding five calendar years without an option of fine, the law said.
NATIONAL ASSEMBLY KEEPS MUM
PREMIUM TIMES made attempts to get the Clerk of the National Assembly, Mohammed Sani-Omolori, to respond to our findings. But his aides said he was was not available the two times this reporter visited his office on Thursday.
He had through an adviser to Mr. Saraki, Yusuph Olaniyonu, given the reporter an appointment for an interview, which he failed to keep.
He did not also reply multiply calls and text messages sent to his telephone.
Commenting on the development, the Head of Media at the BPP, Segun Imohiesen, said all companies that want to execute federal government projects must be on the agency’s database.
“Any company that wants to do business with the federal government must be registered on our platform,” he said.
Hamzat Lawal, the chief executive at the advocacy group, Connected Development (CODE), blamed the situation on abuse of power by lawmakers.
“This shows that there is abuse of power, this is from the top and this shows the kind of leadership we have in Nigeria today where people can leverage on immunity to abuse the position of law,” Mr. Lawal said.
“To them, they will say, we have taken this money, spent it, Nigerians do your worst. Take us to court.
He called for immediate probe of the allegations by anti-graft agencies.
“This is a call to action for anti-corruption agencies. We have the EFCC and ICPC, they shouldn’t fold their arms and watch these selfish lawmakers lick us dry. They should rise up and do their job.
“This is also for citizens to know the kinds of people they elect to public office. If we can’t hold people accountable, why should they represent our collective interest?
“President Buhari has a role to play here, why will his Finance Minster release money that is not appropriated? As the chief financial officer of Nigeria, we are looking forward and we hold him in high esteem. He should probe and if she’s found wanton, she should be fired. CSOs should lead a protest on this, they should ensure there is an independent investigation on this.”

https://www.premiumtimesng.com/news/headlines/265977-exclusive-n10billion-adeosun-largesse-sarakis-nassembly-paid-n5-6billion-to-44-unqualified-firms-full-list.html?amp_markup=1

How Jonathan Conceded 2015 Election, Book by Okonjo-Iweala Reveals
By Tobi Soniyi
April 17.2018

A new book written by a former Finance Minister and Coordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala, has revealed insider details that will impact Nigeria’s political economy for a very long time.

According to the book titled, ‘Fighting Corruption is Dangerous: The Story Behind the Headlines,’ which is meant to contribute to the global understanding of the challenges that reformers face when fighting corruption in developing countries, former President Goodluck Jonathan’s concession in the 2015 elections to President Muhammadu Buhari was a decision he reached on his own with little or no prodding from outside forces.
In the book, which went public last week to readers who had pre-ordered it, Okonjo-Iweala detailed what happened on that fateful day when unknown to all present at the presidential residence in Aso Villa on March 31, 2015, the then president had already spoken to his rival in the presidential election, Buhari, and conceded while various high level government officials and Peoples Democratic Party (PDP) bigwigs were discussing whether or not he should concede.

Okonjo-Iweala revealed that with the room full of people giving conflicting advice, she leaned towards the president, who was seated by her, to impress it upon him the importance of conceding before the results were completely collated and announced, and that he listened to her whispered words and then spoke loudly in response to the hearing of everyone in the room, “It is done. A few minutes ago, I called to congratulate President-elect Buhari.”

The former finance minister’s accounts are consistent with the recollections of her then colleague, Osita Chidoka, who was Minister of Aviation.
In her book, the former finance minister also recalled the support she got from Jonathan over her refusal to pay spurious subsidy claims and bogus judgment debts to oil marketers and other individuals respectively.
While admitting that certain high level persons were convicted, the book expresses frustration that not more corrupt people were convicted during the Jonathan administration even while acknowledging that this may have been due largely to the slow pace of the Nigerian judiciary.

The much-awaited book, which the minister describes as “a personal account of an important aspect of my work in government – fighting corruption” renders the moving and insightful tale of her experiences while serving in the Jonathan government.
The former minister states in her book that she was inspired to write the book in order to make sense for herself and others who have asked to know what was behind the attacks she suffered after leaving office, to highlight the efforts made by the Jonathan administration to fight corruption based on her personal experience, and to “shed light on the perils, pitfalls, and successes of confronting corruption”.

According to Okonjo-Iweala, the book “provides lessons for those seeking to stop corruption and enshrine transparency and good governance in their work” especially finance ministers “who often do a risky jobs and rarely speak out, saying no to colleagues, cabinet members, civil servants, politicians – and even their bosses, the president or prime minister”.

Okonjo-Iweala believes that as risky as it was to serve and fight corruption, in spite of the dangers and difficulties, “it was worth it because institutions, systems, and processes that can endure were built for Nigeria, and substantial monies saved”.
Okonjo-Iweala goes on to state that the vast majority of Nigerians are honest, hardworking people that just want the government to provide basic services, and then get out of their way so that they can take care of themselves. “These people deserve strong institutions that can protect them from corruption.”

She said in the book: “For me, it was also an issue of personal responsibility. I believe that the fight against corruption must start with individuals who choose to take responsibility.
“Years of development experience have shown me that regardless of the instruments, such as incentives and disincentives, that are available to reformers, corruption cannot be fought successfully from the outside or by outsiders. It must be by ‘insiders and from the inside’.”

The former minister goes on to narrate some of the personal acts of intimidation that she was subjected to because of her insistence on implementing reforms and insisting that the right things should be done. One of the most direct examples was the dramatic and traumatic kidnap of her eighty-three-year-old mother in broad daylight at the country home in Ogwashi-Ukwu.

“They asked my brother to tell me to announce on national television and radio that I was resigning from my job as finance minister and leaving the country,” she revealed when the kidnappers eventually made contact.
The reason behind the kidnap was that, with the support of Jonathan, she had convened a taskforce that audited fiscal accounts and detected fraudulent claims for oil subsidy payments which she refused to pay.

The Technical Committee led by Mr. Aigboje Aig-Imoukuede, Managing Director of Access Bank, to verify and reconcile the N1.3 trillion ($8.4 billion) subsidy claims by oil marketers for 2011 revealed “ghost vessels” that never supplied any products, lack of shipping documents or evidence of payments for the products in foreign exchange. It found that N382 billion was fraudulent and should be recovered from the 107 oil marketing companies.

Upon release, her mother reported that the kidnappers gave two reasons for the kidnap: “Your daughter refused to pay oil marketers, and she did not pay SURE-P money.”
The second instance was the plan by some oil importers and marketers to render her paralysed and in a wheelchair. The minister revealed how a few months after the release of her mother, she got a tip of a meeting where a plan to “inflict maximum physical damage short of killing her” because she was withholding subsidy payments.

In her capacity as Finance Minister and Coordinating Minister for the Economy, and based on the hard work of economic team members and various ministry of finance officials who worked with her, Okonjo-Iweala led and coordinated initiatives that saved the country about $2.5 billion from corruption and fraudulent transactions including blocking of payment for fraudulent claims by oil marketers, $1.5 billion from expunging ghost workers and pensions and refusing to pay phony judgment debts and $5 billion by refusing to guarantee proposed loans by international scammers and refusal to accept dubious grants. Collectively, according to her, the efforts saved the country over $9 billion.

The former minister, in her book, also revealed how Atedo Peterside, then Chairman of Stanbic-IBTC, relayed the request for her to work for the Jonathan administration, the “friendly” advice of Donald Duke, the former governor of Cross Rivers State, that she should refuse and the ensuing media attacks on her reputation by Sahara Reporters when it became apparent that she was giving the offer serious consideration.
She narrated that she was reluctant at first but was moved to accept the president’s offer to come back because of the following reasons. One, President Jonathan’s patriotic and emotional pitch to her that during one of her telephone conversations: “I am not asking you to come and work for Jonathan. This is not about Jonathan. It is about helping your country.”

Two, her father, a patriotic Nigerian and believer in the country was in support, stating that it was her chance to further use her expertise to help improve the economy and the lives of less fortunate Nigerians. The third reason was the possibility of completing the work of building “institutions, systems, and processes to stem revenue leakages from the budget” which had slowed down considerably after she resigned under the Olusegun Obasanjo administration.

The initiatives included the Government Integrated Financial Management System (GIFMIS), the Integrated Personnel and Payroll Management Information System (IPPIS), and the Treasury Single Account (TSA). When she eventually made up her mind, she was upfront on asking that the president create an economic team to support the reforms and also grant her regular access to him to discuss important issues.
Okonjo-Iweala also revealed in the book the frosty relationship that existed between her and officials of the Nigerian National Petroleum Corporation (NNPC). The hostility was largely because of the lack of transparency in the operations of NNPC and the Ministry of Petroleum Resources – a problem that for long bedevilled the country. At the heart of this were the discrepancies in revenue numbers.
She wrote: “In 2012, in addition to the serious issues of the oil subsidy fraud, tensions began to rise in FAAC meetings over the lower-than-projected disbursements of oil revenues to the Federation accounts.”

She stated that investigations by the finance ministry revealed an average shortfall of N160 billion per annum, which according to NNPC’s explanations was due to oil theft and pipeline vandalism. She revealed that her attempts to get accountability for the development put her at crossroads with NNPC officials.
She described “trying to bring transparency and accountability to this sector” as “probably one of the most stressful and dangerous tasks of my job as finance minister!”

Fighting Corruption is Dangerous: The Story Behind the Headlines, is billed to be released by MIT University Press on April 20, 2018 and is already widely anticipated in global leadership and financial circles with former British Prime Minister and Chancellor of the Exchequer Gordon Brown, and billionaire businessman and transparency and governance guru Mo Ibrahim endorsing the book.

Mynd44:
Lmaooooo.

I wil love to see his tax receipts from then until now so we know he has not been into mago mago.

If he dares sha

You wanna bet Myndd because before the elections proper Atiku will definitely do that just watch out for him after his much anticipated trip to the UK's Chatham house.

Atiku Abubakar finally revealed how he started his business.



Atiku Abubakar has revealed how he started his business investments in Nigeria- Atiku said he bought four pickup vehicles for hire purchase in 1971

He urged Nigerian youths to have more drive towards entrepreneurship.
A former vice president, Atiku Abubakar, has revealed how he began his business investment in 1971.
Atiku receiving the Honourary Achiever Award, at the Africa’s Youth Entrepreneurs Conference and Award said he moved to Lagos on June 29, 1969 after his training with the Nigeria Customs Service.

He also dedicated the award as the Honourary African Outstanding Entrepreneur to Nigerian youths whom he urged to have more drive towards entrepreneurship.

He said it was in Lagos he discovered that the most lucrative business was the transport business. Atiku said: “I came to Lagos on June 29, 1969 and after my two years training (with the Nigeria Customs Service); I was posted to the border station of Idi-Iroko."

At that time, the Badagry Road had not been constructed and the only means of transportation to the rest of the West African corridor was through the Idi-Iroko border to what used to be called Dahomey and what is now known as Benin Republic.

“On getting to Idi-Iroko, my first posting, I was not married and what I discovered was that the most promising business was transportation. Many pickup vans were transporting women traders from Ajase (Port Novo) to Lagos every morning, and every evening from Lagos back to Port Novo,"Atiku said.

The former vice president said he had approached the automobile company, SCOA, where he signed a hire purchase agreement. He said with the agreement, he bought four Peugeot pick-up vehicles which he handed over to four different drivers.

“So I asked myself, how I can seize the opportunity of this moving business. I came over to Lagos and in those days SCOA were the sole distributors of Peugeot, so I went to SCOA and I signed a hire-purchase agreement and bought four of those pickups and gave them to four different drivers and every day they will bring their returns to me and at the end of the month, I will go to SCOA and pay them.

“I wasn’t married, so my salary was intact and in addition I was saving from what I was getting from my transport business. So, sometime, to be an entrepreneur you must have the ingenuity to be an entrepreneur, "the former vice president said.

Decrying the state of Nigeria's educational system, Atiku said in the early 1960s the nation provided the Nigerian youths the opportunities to make diverse carrier choice.

"The educational system we operated in the First Republic provided our students then the opportunity to either go to universities or go to technical colleges or to go to crafts schools.

There was never a dropout in that kind of educational system. The dullest was trained on a skill and given the capital to start a business,"he said.

He also said he regrets that the Nigerian educational system has moved away from what it used to be in the past.

“So, what I am trying to say is that my Nigeria is possible and your own Nigeria is possible”, he said. The former vice president urged the youths to take advantage of the rebound in railway infrastructure to start a business initiative of transportation of goods across the country.

He encouraged the youth to do so in order to reduce the reliance on heavy duty trucks to convey those goods.

https://www.headlinetracks.info/2018/04/atiku-abubakar-finally-revealed-how-he.html?m=1

keneck1:
As in dead,how?

It is bro, nothing seems to be moving, growing under this evil government more like 10 steps forward and 50 steps backward!

This This current government is dead!

trillville:
Atiku is a good man but a bad leader. His hands are very open but this is not what Nigeria needs now.

We need a person willing to fight for the common man.

A person who would sign a social contract with Nigerians.

Who wouldn't rule us but lead us.

Who would cultivate a trusting relationship with nigeria's elite and ensure they play a bigger role in the development of Nigeria.

A person with the wisdom to make paying taxes seem like a cool thing to do.

A transparent leader that would give real-time updates on government's budgeting and spending.

Vote Sowore for President.

Are you for real?

trillville:
I hope you also mentioned his history with our national purse?

you can do that for me buddy

WHAT THEY DID NOT TELL YOU ABOUT ATIKU ABUBAKAR


Atiku Abubakar (GCON) is a Nigerian politician, businessman and a philanthropist, who served as the second elected vice-president of Nigeria from 1999 to 2007, on the platform of the People's Democratic Party (PDP), with President Olusegun Obasanjo.
Atiku Abubakar became the 11th Vice President of Nigeria In office from 29th May 1999 – 29th May 2007,President.


PERSONAL PROFILE


Atiku Abubakar was Born on 25th November 1946 in Jada, Northern Region, British Nigeria (now Jada, Adamawa, Nigeria).Atiku Abubakar was born into the family of aFulani trader and farmer Garba Abubakar, He was named by his paternal grandfather, Atiku Abdulkadir. His elder sister died at infancy, making Atiku the only child of his parents. Atiku's early years were spent in Kojoli, 30 kilometres east of Jada.


EDUCATION


Atiku's father was opposed to the idea of Western education, he tried to keep Atiku out of the traditional school system. When the government discovered that Atiku was not attending school, which was mandatory, his father was jailed until Aisha Kande's mother paid the fine.
At the age of eight Atiku enrolled in the Jada Primary School where he performed well. In 1960, he was admitted to the prestigious Adamawa Provincial Secondary School in Yola where he did well in English Language and Literature, struggled with Physics and Chemistry and Mathematics. He graduated with a Grade Three WASC/GCE Certificate in 1965.
After his secondary school education, Atiku studied a short while at the Nigerian Police College in Kaduna. He left the College when he was unable to present an O-Level Mathematics result, and worked briefly as a Tax Officer in the regional Ministry of Finance, from where he gained admission to the School of Hygiene in Kano in 1966.
He graduated with a Diploma in 1967, having served as an Interim Student Union President at the School. In 1967,he enrolled for a Law Diploma at the Ahmadu Bello University Institute of Administration, on a scholarship from regional government. After his graduation in 1969, during the Nigerian Civil War, he was employed by the Nigerian Customs Service
Image


CIVIL SERVICE CAREER


Abubakar worked in the Nigerian Customs Service for twenty years, rose to become the Deputy Director,the second highest position in the Service. He retired in April 1989 and took up full-time business and politics.


ATIKU ABUBAKAR, THE BUSINESSMAN


Atiku is  a co-founder of Intels, an oil servicing business with extensive operations in Nigeria and abroad. He is also the founder of Adama Beverages Limited, and the American University of Nigeria (AUN), both in Yola.  He started real estate business during his early days as a Customs Officer. In 1974 he applied for and received a 31,000 naira loan to build his first house in Yola, which he put up for rent, from the rent proceeds, he purchased another plot, and built his second house. He continued this way, building a size-able portfolio of property in Yola.
In 1981 he moved into agriculture, acquiring 2,500 hectares of land near Yola to start a maize and cotton farm. The business fell on hard times and closed in 1986. "My first foray into agriculture, in the 1980s, ended in failure," he wrote in an April 2014 blog.
He then ventured into trading, buying and selling truckloads of rice, flour and sugar.
His most important business move came while he was a Customs Officer at the Apapa Ports. Gabrielle Volpi, an Italian businessman in Nigeria, invited him to set up Nigeria Container Services (NICOTES), a logistics company operating within the Ports. NICOTES would go on to provide immense wealth to Atiku. Conflict of interest, accusations have since trailed him on account of his involvement in businesses, while working as a civil servant, who exercised supervisory authority.
On his part, Atiku has defended the decision, saying his involvement was limited to the ownership of shares (which government rules permitted), and that he was not involved in day-to-day running of the business. NICOTES would later be rebranded INTELS, and go on to feature prominently in accusations of money laundering leveled against Atiku by the US government during his Vice Presidency.
Atiku's business empire also includes a beverage manufacturing plant in Yola, as well as an animal feed factory
.
MARITAL/FAMILY LIFE


While at Idi-Iroko,  Atiku met nineteen-year-old Titilayo Albert, who he secretly married in December 1971, in Lagos, because her family was initially opposed to the union. On 26 October 1972, Titilayo (affectionately called 'Titi') delivered a baby girl they named Fatima. She later gave birth to Adamu, Halima and Aminu.
In January 1979 he married Ladi Yakubu as his second wife. "I wanted to expand the Abubakar family. I felt extremely lonely as a child. I had no brother and no sister, I did not want my children to be as lonely as I was. This is why I married more than one wife. My wives are my sisters, my friends, and my advisers and they complement one another," Abubakar has said. He has six children with Ladi namely: Abba, Atiku, Zainab, Ummi-Hauwa, Maryam and Rukayatu.
In 1983 he married his third wife, Princess Rukaiyatu, daughter of the late Lamido of Adamawa. She gave birth to AIsha, Hadiza, Aliyu (named after her late father, Asmau, Mustafa).


POLITICS/SOCIAL AFFAIRS


Atiku’s first foray into politics was in the early 1980s, when he worked behind-the-scenes on the governorship campaign of Bamanga Tukur, who at that time was managing director of the Nigeria Ports Authority. He canvassed for votes on behalf of Tukur, and also donated to the campaign. Towards the end of his Customs career, he met Shehu Musa Yar'Adua, who had been second-in-command of the military government that ruled Nigeria between 1976 and 1979. Atiku was drawn by Yar'Adua into the political meetings that were now happening regularly in Yar'Adua's Lagos home. In 1989 Atiku was elected a National Vice-Chairman of the Peoples Front of Nigeria, the political association led by Yar'Adua, to participate in the transition programme initiated by Head of State Ibrahim Babangida.
Atiku won a seat to represent his constituency at the 1989 Constituent Assembly, set up to decide a new constitution for Nigeria. The People's Front was eventually denied registration by the government (none of the groups that applied was registered), and found a place within the Social Democratic Party, one of the two parties was decreed into existence by the regime.


FIRST GOVERNORSHIP RUN (1990)


On 1 September 1990, Atiku announced his Gongola State gubernatorial bid. A year later, before the elections could hold, Gongola State was broken up into two – Adamawa and Taraba States – by the Federal Government. Atiku fell into the new Adamawa State. After an acrimonious contest he won the SDP Primaries in November 1991, but was soon disqualified by government from contesting the elections.


FIRST PRESIDENTIAL RUN (1992)


A similar fate – disqualification by the military – would befall Shehu Musa Yar'Adua, Atiku's friend and political mentor, in his 1992 bid for the presidential primary of the SDP. With no chance of contesting for the presidency, Yar'Adua decided to push Atiku forward as the focal point of SDP's ambitions. Atiku came third in the convention primary. But because MKO Abiola, the winner, had won by only about 400 votes a run-off was due. Atiku stepped down for Abiola, asking his supporters to cast their votes for him, with an unwritten agreement that Abiola would announce Atiku as his running mate. Abiola won the SDP ticket, and announced Babagana Kingibe, the runner-up, as his running mate.


SECOND GOVERNORSHIP RUN (1998)


In 1998,Atiku launched a bid for the governorship of Adamawa State on the platform of the People's Democratic Party. He won the December 1998 elections, but before he could be sworn in, he was tipped by the PDP's presidential candidate, former Head of State Olusegun Obasanjo, as his vice-presidential candidate. The Obasanjo-Atiku ticket won the 27 February 1999 presidential election with 62.78 percent of the vote.


VICE PRESIDENCY (1999–2007)


Atiku Abubakar was sworn in as Vice-President of Nigeria on 29 May 1999. He presided over the National Council on Privatization, overseeing the sale of hundreds of loss-making and poorly managed public enterprises.
In 1999, he alongside South African Deputy President Jacob Zuma, launched the South Africa Nigeria Binational Commission.
In 2006, Atiku was involved in a bitter public battle with his boss, President Olusegun Obasanjo, ostensibly arising from the latter's bid to amend certain provisions of the constitution to take another shot at the presidency (for the third consecutive time).
In a November 2013 interview Atiku is quoted as saying, regarding Obasanjo's alleged attempts to justify his third term bid: "[He] informed me that 'I left power twenty years ago, I left Mubarak in office, I left Mugabe in office, I left Eyadema in office, I left Umar Bongo, and even Paul Biya and I came back and they are still in power; and I just did eight years and you are asking me to go; why?' And I responded to him by telling him that Nigeria is not Libya, not Egypt, not Cameroun, and not Togo; I said you must leave; even if it means both of us lose out, but you cannot stay."
The debate and acrimony generated by the failed constitutional amendment momentarily caused a rift in the People's Democratic Party. The Nigerian National Assembly eventually voted against any amendments allowing Obasanjo to run for another term.
The Atiku-Obasanjo face-off damaged the personal relationship between both men.


SECOND PRESIDENTIAL RUN(2006–2007)


On 25 November 2006, Abubakar announced that he would run for president. On 20 December 2006, he was chosen as the presidential candidate of the Action Congress (AC).
On 14 March 2007, the Independent National Electoral Commission (INEC) released the final list of 24 aspirants for 21 April presidential election. Abubakar's name was missing from the ballot. INEC issued a statement stating that Abubakar's name was missing because he was on a list of persons indicted for corruption by a panel set up by the government.Abubakar headed to the courts on 16 March to have his disqualification overturned


THIRD PRESIDENTIAL RUN (2011)


Following the 2007 elections, Atiku returned to the People's Democratic Party. In October 2010 he announced his intention to contest for the Presidency. On 22 November, a Committee of Northern Elders selected him as the Northern Consensus Candidate, over former Military President Ibrahim Babangida, former National Security Adviser Aliyu Gusau and Governor Bukola Saraki of Kwara State.
In January 2011, Atiku contested for the Presidential ticket of his party alongside President Jonathan and Sarah Jubril, and lost the primary, garnering 805 votes to President Jonathan's 2736.


ATIKU RELATIONSHIP WITH PRESIDENT OBASANJO


On 30th March 2014, Nigerian media reported that a delegation from the Northern Youth Leaders Forum visited Obasanjo at his home in Abeokuta and pleaded with him to "forgive your former vice-president, Alhaji Atiku Abubakar of whatever political sin or offence he might have committed against you." In response Obasanjo is quoted as saying that "as a leader and father, I bear no grudge against anybody and if there is, I have forgiven them all."


PEOPLES DEMOCRATIC MOVEMENT (PDM)


In August 2013, the Independent National Electoral Commission (INEC) registered two new political parties. One of them was the Peoples Democratic Movement. Local media reports suggested that the party was formed by Atiku as a back-up plan in case he was unable to fulfill his rumoured presidential ambitions on the PDP platform.[18] In a statement Atiku acknowledged that the PDM was founded by his "political associates", but that he remained a member of the PDP.


ALL PROGRESSIVES CONGRESS


On 2 February 2014, Atiku left the Peoples Democratic Party to the join All Progressives Congress. According to local media reports, "he will be seeking to contest for the Nigerian presidency in 2015, on the party's platform".
On Friday, 24th November 2017, Atiku announced his exit from the All Progressives Congress (APC), a party he helped to form.


PEOPLES DEMOCRATIC PARTY


On December 3, 2017, via a Facebook,twitter,wechat,instagram and other Live broadcast, Atiku announced his return to the Peoples Democratic Party (PDP). The announcement on Sunday followed consultations, the former Vice President had with party leaders and stakeholders from across the country. He said he decided to 'return home' to the PDP now that issues which made him leave the party have been resolved.


PHILANTHROPY AND EDUCATION


American University of Nigeria (AUN) is the first American-style university to be established in Sub-Saharan Africa. It was founded in Yola, the capital of Adamawa State as ABTI American University of Nigeria (AAUN) by Atiku in 2005. He has said that having benefited from the US system of instruction as a young man, he was eager to make available in Nigeria an American trained faculty – emphasising critical thinking, small classes, student participation, problem-solving. AUN has received special recognition from Google.
In 2012 Atiku donated $750,000 to the National Peace Corps Association in the United States, "to fund a new initiative featuring global leaders who will discuss Peace Corps's impact." It was the largest ever individual donation in the Association's history.[24]
In his speeches and commentary Atiku is a vocal advocate of the importance of Nigeria's educational system. In August 2013 he sponsored a students' essay contest to generate solutions to Nigeria's most pressing institutional educational challenges. Entrants were asked to write between 2,000 and 5,000 words on the topic 'More Learning to More People: How can Nigeria be more innovative in bridging its literacy and skills gap?'.
A longlist was announced on 21 October 2013, and the winners a week later. The joint first prize went to Kenechukwu Nneka,Lily Nwagbo and Emeka Chigozie Ezekwesiri.
Upon the release of the dismal results of the May–June 2014 West African Examinations Council (WAEC) results, Atiku said, in a statement:
″Our country’s educational institutions are clearly not providing quality learning. Our teachers need to be taught. This situation is a new development—of the past 10 years or so. The steady decline of education in Nigeria is a reflection of our country’s relegation of education to the background of national essentialities. That is where the change must begin. Teachers are important as senators and doctors. Indeed, teachers determine the quality of senators and doctors. And so, the entire country stands to suffer the effects of this neglect in future. Nigeria must once again make education a priority. We must return to the basics.″
In a bid to alleviate the educational decadence in Northeastern Nigeria, Abubakar issued scholarship to 15 escapees of the Chibok school girls kidnapping.


HONOURS AND AWARDS


In 1982, Atiku was awarded the chieftaincy of the Turaki of Adamawa by Adamawa's traditional ruler, Alhaji Aliyu Mustafa. The title had previously been reserved for the monarch's favourite prince in the palace, as the holder is in charge of the monarch's domestic affairs.
In 2011, while celebrating the 50th anniversary of the US Peace Corps in 2011, the National Peace Corps Association (NPCA) – an independent 501 (c) (3) nonprofit organisation, separate from the Peace Corps, that serves as an alumni association for Returned Peace Corps Volunteers – honoured Atiku with the Harris Wofford Global Citizen Award.
At the presentation of the award, the National Peace Corps Association described Atiku Abubakar as one individual who contributed to the development of higher education on the continent of Africa. "No private businessman in Africa has worked harder for democracy or contributed more to the progress of higher education than Atiku Abubakar," the NPCA said.
In June 2017, Atiku Abubakar was conferred the title of "Waziri" of Adamawa, and his previous title of Turaki was transferred to his son, Aliyu.


SOCIAL MEDIA


Abubakar has been active on Twitter and other social networking devices since the 2011 elections, but stepped up his engagement in May 2013. In August 2013 he became only the second Nigerian politician to be verified, after Lagos State Governor Tunde Fashola. As at November 2015 he had more than 390,000 followers. He currently has 450,000 Facebook fans. Also in 2013 he launched a blog.
In an August 2013 post he shared his views on the role and relevance of social media to governance and democracy in Nigeria.


HIS MESSAGE: TRUE FEDERALISM


One of his most recent campaigns is True Federalism. He has been delivering speeches all over the country inspiring Nigerians on the need to restructure the country. He has been receiving massive endorsement for his stand on True Federalism.
He recently declared at an event where he was conferred the award Hero Of Democracy by Hall of Grace Magazine.
“Political decentralization will also help to deepen and strengthen our democracy as it will encourage more accountability. Citizens are more likely to demand accountability when governments spend their tax money rather than rent collected from an impersonal source.


HE ALSO SAID


"True Federalism will encourage States to competes to attract investments and skilled workers rather than merely waiting for monthly revenue allocation from Abuja".
Many of his speeches have caused positive stir nationwide as Nigerians are supporting the idea of True Federalism which involves allowing states to have control over their resources most especially the South South and South East zones of Nigeria.
This man called "Atiku Abubakar"is an Adventurous,Industrious,Innovative and a scintillating advocate whose pedigree in life has brought many from different facets of life endeavors to a place of hope,it has given hope to those that couldn't cope in this common dispensation.
Atiku Abubakar is a politician that has the mind of the people and we should venture into the train of #ProjectAtiku 2019 as this will go a long way in liberating us and as well ensuring,unifying,encouraging and above all relinquishing our economy as a means of giving us the Nigeria of our dreams.


#ISTANDWITHATIKUFOR2019

    #PROJECTATIKU 2019 

Cc: Myndd_44, Lalasticlala to the rescue

Fresh herdsmen attacks claim 36 in Benue, Nasarawa

vanguardngr.com

Apr 17, 2018 2:58 AM

…4 in Benue, 32 in Nasarawa
…11 policemen declared missing in Benue
..Casualty figure far higher, many killed, injured —LG Chair
MAKURDI—Gunmen suspected to beherdsmen have again killed at least 36 persons in Benue and Nasarawa states.

The four persons killed in Logo Local Government Area of Benue State were police officers, while 11 others were declared missing after an ambush was laid for the policemen by the herdsmen on Sunday evening and yesterday morning.



However, the Logo Local Government Council Chairman, Mr. Richard Nyajo, in a telephone interview maintained that the casualty figure was far higher, adding that many sustained injuries in the attack.

Nyajo said:  “The well armed herdsmen entangled the Police personnel on duty in the area at about 6pm and killed several of them but some managed to flee.

“Though I cannot confirm the total casualty figure but many were reported dead and several others sustained injuries. That is what those who managed to escape told me when I met them.”

The state Police Command in a statement by its Public Relations Officer, Assistant Superintendent, ASP, Moses Yamu, confirmed that the policemen lost their lives in an attack that started Sunday evening and lasted till the early hours of Monday (yesterday).

The statement read in part:  “Benue State Police Command regrets to report that its personnel came under attack of insurgents at Anyibe, Logo LGA of the state between 6pm on Sunday April 15, 2018 and early morning today (Monday).

“Sadly, at the moment, four casualties have been suffered by the Police. Additional reinforcement (including the Air Asset of the Police) deployed by Inspector General of Police is in pursuit of the murderous gang.”

56 killed in Gbeji town of Tsaav—CP

Meanwhile, the Benue State Commissioner for Industry, Trade and Investment, Prof. Tersoo Kpelai, has disclosed that over 56 persons were killed by suspected herdsmen in last Thursday’s attack on Gbeji town of Tsaav ward, Tse-Akaanya and Tse-Hiityo of Lumbuv council ward of Ukum Local Government Area of the state.

Kpelai, who hails from the area, made the disclosure after undertaking an on-the-spot assessment of the sacked communities.

He said the figure could be far higher at the end of search for the remains of victims in the affected villages.

He said:  “So far, we have recovered 33 bodies from some of the bushes and rumbles of burnt houses, huts and farmland and the search is still ongoing. So, there is every likelihood that the figure would be much higher because three more bodies have just been recovered and many are still missing.

“From what we have gathered so far from survivors, the herdsmen,  who attacked the border communities, came from Chenkei in Taraba State.

“Most of the survivors also accused Nigerian Army of colluding and leading the militant herdsmen to attack their villages. The property and valuables lost in the attack including houses, huts, farmland, economic trees, food barns and seedlings could be well over N300 million.’’

Narrating their ordeal before the Commissioner, Mr. Sunday Kulegwa and Iortaver Idye (the most elderly person in Gbeji town) all pointed accusing fingers at the army, noting that military personnel using official vehicles were not only spotted on the scene of the attacks with the invaders but also participated in the shooting and killing of innocent people.

Similarly, at Tse Akaanya and Tse Hiityo all in Lumbuv council ward, Mr. Timothy Iorfa, Councillor representing Lumbuv ward, Austin Damsa and Terkaa Agera who witnessed the attack maintained that “men in army uniforms in their personnel carriers and other utility vehicles were seeing shooting and killing people while herdsmen followed the troops burning houses and carting away valuables.

…32  in Nasarawa

In the Nasarawa incident, no fewer than 32 persons were killed when herdsmen launched a fresh  attack on over 32 Tiv communities in the southern senatorial district of Nasarawa State.

The  suspected killers  were said to have carried out the  attacks  simultaneously  in Awe, Keana, Obi and Doma Local Government Areas of the state, leaving 19 others with severe gun and machete injuries.

At  press time, over 10,000 Tiv villagers are currently trapped in Obi Local Government Area following  the  cordinated attacks by the suspected herdsmen.

A visit to some of the sffected communities by Vanguard revealed that about 15,000 fleeing Tiv villagers are currently stranded  and are taking refuge in  Lafia, the state capital aside the over 100,000 in different IDP camps at Agwatashi, Aloshi, Awe, Adudu, Obi, Keana, Doma, Agyaragu, among other locations.

When Vanguard visited Dalhatu Araf Specialist Hospital in Lafia, where eight of the victims are currently receiving treatment as a result of injuries sustained from the attacks, it was also gathered that five dead bodies were initially deposited at the hospital mortuary of which three were already released by the Police for burial.

Confirming the development to journalists in Lafia, President,  Tiv Youth Organization Nasarawa state chapter, Comrade Peter Ahemba said the entire Tiv communities in the southern part of the state had been sacked, noting that most of the affected villages were being occupied by the invaders.

“As I speak to you, seven corpses of our people killed this morning by the Fulani herdsmen  in Wurji village of Keana LGA have just been recovered and brought to Keana town by the Police.

‘’Also last night, five of our people were killed in the coordinated attacks, with seven others still missing at Kertyo and Apurugh villages in Obi Local Government

“Three days ago, we recorded eight deaths from similar attacks in Kadarko area, four from Aloshi area,one from Agberagba, all in Keana LGA.

‘’Another six persons shot at Imon village, were rushed to Obi General Hospial as a result of which one of them later died. This is just a few out of deaths we recorded within the last three days as a result of these senseless killings,’’ Ahemba explained.

The Tiv youth leader, who alleged that the herdsmen were conveyed in trucks and brought into the state to carry out the attack, told journalists that it was now clear that incessant attacks on the Tiv people were no longer protest against any enacted law but a calculated attempt to exterminate the Tiv community of the state.

He appealed to Nasarawa State government to urgently stop the carnage, and asked the international community to intervene in order to save the state and country from the current bloodbath.

Contacted on the incident in a telephone interview, the Police Public Relation Officer, DSP Kennedy Idirisu, said the command was only aware of yesterday’s attack.

He said: “There was an attack early Monday morning, but the command is yet to be given details as regards to the number of people that lost their lives in the early hours attacks by unknown gunmen.”

https://www.vanguardngr.com/2018/04/973946/

SternProphet:
Buhari is NOT tormenting Nigerians. He is not allowing you to steal. If that is torment, may you be tormented for ever. A lot of you empty soulless people have the spirit of Israel on the way to the promise Land. Moses turns his back and you have started worshipping idolS. To believe that an elected President dependent on votes wants to torment his people in a multi party democracy shows how much demented Nigeria's youth has become. No wonder your generation is eating g faeces to do money rituals.

Get this straight. Buhari is going to do second term well well. He will leave in 2023 and hand over to a President from the South East. The tender plant from the North, this Pastor is taking about won't happen. Osinbajo will be de facto President in Buhari's second term with the govt running most of his programs.

My brother take a shot at comedy, you have a calling there

What could be the problem with Pastor Tunde Bakare lately? This same man couldn't hear from the Holy Spirit that a Buhari he so much love will turn out this way he is currently tormenting Nigerians and now he is introducing a Sowore to his Church members when he is also eyeing that post. This confusion in Latter Rain is real

This man is a big joke I can't believe what I am reading. You focused on security and economy yet Boko haram and their Fulani Herdsman partners in crime are still killing people like rams and goats everywhere, bombs are still blowing people to shreds while on the economic side, companies are laying off staff like kilode and the likes yet this funny man is talking of one yeye focus Kai Buhari

This man is a big joke I can't believe what I am reading. You focused on security and economy yet Boko haram and their Fulani Herdsman partners in crime are still killing people like rams and goats everywhere, bombs are still blowing people to shreds while on the economic side, companies are laying off staff like kilode and the likes yet this funny man is talking of one yeye focus Kai Buhari

JERRYMAG4:
Proceeding in which court? Nigeria or the US? If it was in Nigeria court, what do you expect? I am very sure, if you check the case file, it was have been postponed to the next ten years or the presiding judge is transferred etc. We have actually been beclouded to the fullest.

I will also advised that you read the confessional statement of Jefferson and then come back. While Jefferson paid Atiku, he is in prison. Atiku that collected the money is walking freely. I beg to say that Nigeria Judiciary is SCRAP!. The youth must wake up.....

You can also educate us how how and ordinary salary earner (Atiku) because a millionaire over night

It is very clear that you are a novice to so many things so I will leave you to keep wallowing in your mire of ignorance. How dare you call a deputy director in custom an overnight millionaire? What errant nonsense. Safe journey in your ignorance please

lestat:
Yeah

Where exactly are you based in Nigeria? I mean the State

lestat:
I would love to work on this man's PR team

Are you serious?

SamuelAnyawu:
The Only Oppostion Candidate pulling the stunts for now.Others are still hoping they will win on Nairaland,Facebook and Twitter

You can say that again my bro. He is!

JERRYMAG4:
Before you conclude and rejoice in your mind, why not tell us where is William J Jefferson today? He is in the prison while Atiku is walking freely in Nigeria and even planning to contest. Thank God the Federal government has introduced history into schools. The next generation will be better and will not be easily brainwashed like you.

I hope you educate yourself by reading up the proceedings at the court regarding the case and you can then show us exactly where Atiku was indicted in the whole case. Thank you.

ifyalways:
I hope UK will vote him in Naija elections

Very useless move

What's your problem lady? Why not educate us why it's a useless move. Hiann

ascek:
Don’t you think you need to educate us on what it is. Because as it stands now you have not said anything to to counter the OP

Do you think that guy have anything upstairs to offer? Nigga is just being psychopathic

rusher14:
Why not visit USA where you've been indicted ?

Trust me, he will, only don't be in a hurry. I hope you know that as at 2016 he was accused on not being able to visit UK too, now he is on his way there. Watch out for his US trip soon.

Atiku Fights Back, Tours UK to Improve Image

April 15, 2018

Set to declare presidential run in May

Abimbola Akosile

Former Vice President Atiku Abubakar has launched a major campaign to repair several years of damage done to his image by his erstwhile boss, ex-President Olusegun Obasanjo, as he traversed the United Kingdom in the last one month, talking to international opinion moulders on his true essence. The international image improvement engagements are preparatory to his declaration for a presidential run in 2019 on the platform of the Peoples Democratic Party (PDP), which THISDAY sources close to him said might not be later than the end of May.

Since Atiku fell out with Obasanjo in 2003 in the heat of their PDP presidential primaries, the latter has spared no effort in projecting his deputy as a corrupt public official, who, given the opportunity to be in command of the ship of state, would “steal the country blind.” So effective has the Obasanjo stigmatisation of Atiku been that the corruption perception became the former vice president’s albatross in his three previous presidential contests.

“Aware of the implication of tackling this matter head on this time around, we decided Atiku should make deliberate efforts to disabuse the minds of the people, particularly, the international opinion moulders, whose views could affect his chances,” a close associate of Atiku told THISDAY last week.

Although most of the engagements were passed off as business and academic meetings, in the form of lectures on economic issues of national importance to Nigeria, THISDAY sources said the main objective of the Atiku team was to divert attention away from his not too complimentary political reputation and project him as a man of great ideas, who has been wilfully misrepresented.

Consequently, a series of foreign engagements have been lined up for him, including a major economic speech at London’s Royal Institute of International Affairs (Chatham House) on April 25.

According to a statement by his media office, the keynote speech, entitled “The Importance of Strengthening State Economic Management Systems,” will unveil innovative and tangible solutions that once implemented would help Nigerian states come out from their current economic challenges and help get Nigeria working again. It said during the trip to the UK, Atiku will also give another major keynote speech at the Invest Africa and British Council for Africa “Annual Debate”. He would speak alongside Dr Liam Fox, International Trade Secretary, UK Government, on the subject of “Building new trade partnerships in Africa.”

The statement noted that the speaking engagements were a follow-up to Atiku’s meeting in June of 2017 with Liam Fox and Prime Minister Theresa May, where they discussed the UK’s plan to increase trade with Nigeria post Brexit. It added that during the trip the former vice president would also be the guest of honour at a lunch on Nigerian inward investment hosted by Lord Anthony St John (former UK Minister for Africa) and be a guest speaker at Round Table of key UK business leaders interested in investing in Nigeria at the Institute of Directors, Pall Mall.

The three-day trip, according to his media office, will be capped off by giving the keynote speech to UK Diaspora in the City of London on the subject of “Maximising the benefit to our economy of all our talents, wherever they may be.”

Expected to return to Nigeria early next month, Atiku, according to his associates, would immediately conclude his consultations with the major stakeholders in the party and thereafter formally launch his bid for the PDP presidential ticket.

https://www.thisdaylive.com/index.php/2018/04/15/atiku-fights-back-tours-uk-to-improve-image/

[quote author=NdiaraIGBO post=66718753][/quote]How I wish you can address the issue I raised and not this diversion. Kindly educate me why you think if anyone emerges as President beside your Buhari that Nigeria will collapse within 2 years despite all the indices staring you in the face of a failed state and dying economy under Buhari.

Fayemi is abusing something potent lately to even think APC will clinch Ekiti at the polls. I really feel for him and I don't see him clinching the ticket at the primaries in the first place.

NdiaraIGBO:
I was alive, well and aware in 1983, OP please bro explain how Buhari destroyed the middle class as you claimed in 1983?

Tell me his economic policies that destroyed the middle class, thanks.

Try to read this up;

Nigerians reluctant to tighten their belts for their former civilian leaders were ordered by the soldiers this week to take in another notch. Nigeria's central bank announced a sharp cut in foreign ex­change available for imports.

At 287m naira ($380m) a month, the new limit is less than half as much as Nigeria spent on merchandise and invisi­bles last year. It is almost a third lower even than the tough target set by ex-President Shehu Shagari in the budget presented two days before Major-Gener­al Muhammadu Buhari's coup.

Though the cut may turn out to be less swingeing than it sounds—senior officials told commercial bankers in London this week that a little over 4 billion naira will be made available for the year—there is no doubt that the new government means to cut imports heftily. Foreign bankers and creditors are happy. They see it as a sign that Nigeria is serious about living within its shrinking means.

Export earnings from oil dropped from $25 billion in 1980 to just under $10 billion in 1983. Though a swift rise in imports from $11.8 billion in 1979 to $18.4 billion in 1981 was checked in 1982, Nigeria amassed a current-account deficit of some $16.5 billion in the three years from 1981.

A deep cut in the import bill will free foreign exchange to service Nigeria's ex­ternal debt. This is likely to take 30-40% of export earnings in each of the next few years. But a big fall in imports could ruin the new regime's reputation at home. It is popular at the moment. Though General Buhari has promised no free lunches, people expect him to bring down prices and increase supplies of essential goods. They were beginning to grouse that he was moving too slowly—but cutting im­ports was not the step most had in mind.

Many consumer goods, including ba­sics such as detergents andcooking oil, are already scarce. Import restraints since April, 1982, and the growing reluctance of foreign suppliers to finance trade with slow-paying Nigeria have combined to reduce both the volume and the dollar value of imports in 1983 to below their 1980 level. Attempts by over-zealous sol­diers in the first weeks after the coup to impose bargain prices in the shops have made shortages worse as traders hoard now what they managed to hide then. Even black-market champagne and French perfume are vanishing as soldiers patrol the borders for smuggling.

Manufacturers are feeling the pinch the most. Nigeria buys about 75% of its industry's raw materials abroad. More than 100 businesses stopped production in 1983 because they could not get foreign exchange for imports. Many employees are taking next Christmas's holiday now. Registered unemployment, up by more than 40% in 1982, is still rising. So is inflation, conservatively estimated at an annual 20%.

Food supplies are affected too, though so far in towns high prices are a bigger complaint than shortages. Nigeria spent some $1.5 billion in 1983 on food im­ports, including 2m tons of grain. It is likely to need $2 billion this year. Drought in the north may have reduced the grain harvest by up to 50%, and there is an outbreak of rinderpest in cattle.

Under still imprecise new rules, 58% of imports will be raw materials and indus­trial spare-parts; 12%, food; 18%, con­sumer goods; and 12% for invisibles, such as foreign travel and management-fee remittances. This is in sharp contrast to the pattern of the past few years; when consumer goods accounted for 40% of all imports and raw materials only 25%.

The new government says it will keep prices of essentials down by cutting out middlemen who used to take a cut on each of five or six transactions between ship and shop. This sounds optimistic, but the true level of Nigeria's imports has long been inflated by overinvoicing and false pricing. Kicking out the crooks at home and buying more competitively abroad should reduce the fall in the volume of imports, officials hope.

Previous attempts to order Nigeria's foreign-exchange priorities have foun­dered on corruption and inefficiency. Will General Buhari and his powerful number two, Major-General Babantunde Idiagbon, do better?

On corruption, modest improvement is likely. Many of the biggest suspected wrongdoers have already left. General Buhari has said there will be no witch-hunt. He probably cannot afford one.

http://www.economist.com/news/middle-east-and-africa/21666090-can-nigerias-buhari-take-import-monster-and-win?fsrc=scn%2Ftw_ec%2Fcan_nigerias_buhari_take_on_the_import_monster_and_win_

ArmedRobber:
I laugh when I see the comments on nairaland about youth taking over power from the old politicians.

let me tell you the reality on ground not just base on emotions or sentiments .

you cannot win election at any level without endorsement or support from the cabals .
there is no credible election in Nigeria . the best rigger Wins at the polls.

sowore or durotoye can never win a ward under Nigeria current political structure.
unless they submit themselves to the major parties.
cabals have hijacked Nigeria's political structure they have moles at all levels in the political and economic system .
it will take a violent revolution to change this or divine intervention from God.

Flesh and blood did not reveal this to you my brother you are good! Tell those who don't know now to read and learn bro!

spartan117:
I knew there was something fishy about the supposed growth of this account by Buhari and his liars

Now that you have seen the whole raw truth bro please spread the gospel across all boards.

STILL ON NIGERIA FORIEGN RESERVE- DON'T ALLOW THEM TO DECEIVE YOU BECAUSE PAPER MONEY IS NOT CASH MONEY

*What’s inside Nigeria’s foreign reserves?*

It was former president Obasanjo who started this whole business of turning the nation’s foreign reserves into an achievement to be celebrated.
When Obasanjo took office in May 1999, Nigeria’s foreign reserves were just under $5bn. By the time he left in May 2007, it was $43bn. But beyond that, there was a difference in the composition of the reserves from today. For simplicity, let’s distinguish the two types of reserves as Paper and Cash Money. Out of the $43bn left by Obasanjo, around $11bn was Cash Money.

Cash Money is money in the bank that you have not spent. You can dip into it on a rainy day. The best example of this for Nigeria is the Excess Crude Account. But Paper is quite different. Imagine that in March, Nigeria sold crude oil and earned $1bn from it. That money goes into a CBN account abroad. CBN calculates the naira equivalent at the official rate and gives it to the FG i.e. N305bn. The FG takes the money and pays salaries, wastes some and the rest disappears. The key thing to note here is that once the CBN has given the FG naira, the dollars no longer belong to the FG. The FG cannot spend that $1bn again even though it is sitting there as part of Nigeria’s reserves. So what is it for?

Let’s say a guy named Pastor Oyoyo wants to import a set of drums, guitars and hair cream for his new church, Fire for Fire InterGalactic Ministries. The total for all the imports come to $1m. He gives his bank N360m, his bank gives maybe N350m to CBN and CBN gives $1m to his bank. The bank gives him maybe $999,990 and he uses the money to pay for the imports. So we come to the current reserves. A few days ago, the CBN announced it had hit $46bn. In a recent speech, President Buhari also boasted that his government had grown the foreign reserves from $24bn in 2016 to $46bn today using its special Magic System. But there’s something interesting about this growth – the big change has all happened in the last year or so. What did Godwin Emefiele (popularly called Meffy) do to achieve this? This growth has three components;

Component 1 – Since February 2017, Nigeria has issued $7.3bn worth of Euro Bond debt (02/17 – $1.5bn, 06/17 – $300m, 11/17 – $3bn, 02/18 – $2.5bn). For context, from 2011 to 2015, Nigeria only did $1.5bn of Euro bonds. When Nigeria sells Euro bonds, the dollars are paid to CBN. Meffy then converts it to naira and gives the naira to the FG. In other words, that $7.3bn is added to Nigeria’s reserves as part of the Paper Reserves. Again, the FG cannot spend it because it has already collected the naira equivalent.

Component 2 – Nigerian banks have lately been practicing an innovative type of banking that economists and scholars have described as Advanced Shashe Banking (ASB). Imagine a Nigerian bank named Seneat. This bank goes abroad and borrows $1bn via a Euro Bond at 7% interest. It then does a swap with Meffy where it gives the $1bn to CBN at say N350 to $1 with an agreement to buy it back in 1 years time at say N360 to $1. This means that no matter what happens in a year time, CBN must sell $1bn back to Seneat at that rate. Seneat now takes its N350bn and buys lots and lots of FG treasury bills at 17% while Meffy adds the $1bn to the reserves. CBN has stopped publishing the swaps numbers since last year but I have some very clever friends who have calculated the current total to be $6bn.

Component 3 – Since the CBN ‘stabilized’ the forex market last year with the launch of the I&E Window, much more foreign investment than before has come in. This is mostly made up of FPI where foreign investors bring in money to buy shares and government bonds. It’s different from FDI which is to build factories etc. Nothing wrong with FPI of course but its nice(r) when you have both. Again, they give their dollars to CBN and get naira to buy the shares they want. When they want to leave, CBN must collect their naira and give them dollars. And from experience, we know they usually run away close to elections in Nigeria given the way Nigeria behaves around that time. So how much is this component? It is hard to tell as CBN does not publish the numbers but I calculate to be around $9billion.

I have simplified the components to save time and space. The only portion of the current reserves that is Cash Money is the ECA which has $2.3bn. But as I showed in my previous column, all the money in the ECA has been borrowed against which means it’s also Paper. Next time you hear the FG or their ignorant e-vuvuzelas boasting about growing the reserves, remember it is costing quite a lot to grow it this way. And then decide for yourself how much credit to allocate to Meffy and the FG for it. 800 words is enough for the wise

-Feyi Fawehinmi,