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 Politics › Re: FG Raises Exchange Rate For Cargo Clearance To N1,356/$ by treesun(op): 2:58pm On Feb 03, 2024 |
Increasing hardship! |
| Politics › ISWAP Fighters Raid Borno Police Station, Gun Down Officers by treesun(op): 2:57pm On Feb 03, 2024 |
At least four policemen were killed and cache of ammunition carted away when suspected fighters of Islamic State of West Africa Province (ISWAP) attacked a police station in Nganzai Local Government Area of Borno State.https://dailytrust.com/breaking-iswap-fighters-raid-borno-police-station-gun-down-officers/ 4 Likes
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| Politics › FG Raises Exchange Rate For Cargo Clearance To N1,356/$ by treesun(op): 10:19am On Feb 02, 2024 |
The Federal Government through the Central Bank of Nigeria has raised the exchange rate for cargo clearance from N952/$ to N1.356 per dollar. This is coming weeks after the rate was increased from N783/$ to N952/$. In November, the exchange rate for cargo clearance was raised from N757 per dollar to N783 per dollar, representing a 3.4 per cent increase, and was later raised from N783/$ to N952/$ in December. However, our correspondent observed on Friday that the new rate has been reflected on the portal of the Nigeria Customs Service. Meet Ondo Regent Whose Father Reigned For Three Days | Punch Reacting to this, a member of the Association of Nigerian Licensed Customs Agents, Remilekun Sikiru, in a chat with The PUNCH on Friday, said, “How do we explain this? From N952/$ to N1.4/$ as of Friday morning with about N404 increase? It’s quite unfortunate that the prices of goods and commodities will automatically increase. Importation would further decrease and depreciate, vehicle prices would skyrocket again. CBN orders banks to sell excess dollars in 24 hours “Since this unification of a thing, the government has refused to look inward and critically into the maritime industry as regards importation and exportation. The sector have been neglected and things are getting worse daily. The question now is, how would freight forwarders and customs brokers agents cope with this new rate?” Also speaking, an agent, Ben Anya, said that they woke up to the new rate, “which was before now set at N951 per dollar,” Anya explained that with the latest increase in the exchange rate, the cost of clearing would increase. “And this would also affect the cost of goods in the market. It would also lead to a drop in importation,” he said. https://punchng.com/just-in-fg-raises-exchange-rate-for-cargo-clearance-to-n1356/ 1 Like |
| Politics › Re: Tinubu Screws Nigeria Over In Paris, Returns OPL 245 Ownership To Shell-eni by treesun(op): 7:19pm On Feb 01, 2024 |
Confirmed! |
| Politics › Business Revenue In Abuja Down 33% Due To Insecurity – Report by treesun(op): 6:01pm On Feb 01, 2024 |
A new report by SBM Intelligence, a reputable market intelligence, security analysis, and strategic consulting firm, has shed light on the alarming rise in insecurity that is plaguing Nigeria’s capital, Abuja. The report, titled ‘Inside Nigeria’s Hostage Capital: Unraveling the economic impact of Abuja’s kidnap epidemic,’ reveals distressing statistics and harrowing accounts of the city’s deteriorating security situation. Surge in Criminal Activities According to the report released on Thursday, Abuja has experienced a surge in various criminal activities including minor thefts, ‘One Chance’ robberies, armed robberies, and home break-ins. The situation reached a critical point with the recent spate of kidnappings, showcasing a rapid deterioration in the country’s security landscape. The report reads, “The deteriorating security situation in Nigeria’s capital has had a real effect on the lives of the city’s residents. “Insecurity in and around Abuja is fuelling tensions in the capital, and although the violence is still mostly in satellite towns such as Bwari and Kuje, our data, which spans between 15 January 2023 and 15 January 2024, shows a steady increase in abductions in the main city centres in Abuja Municipal Council Area, bringing insecurity closer to the heart of Nigeria’s government. “The economic environment has seen significant changes, with business revenue declining by 33% and estate security fees increasing by 20%. Transport fares have surged by 100-250%, while rent in upscale areas has risen by 10-50%, and rent in suburbs is subject to dispute. “Additionally, the number of residents abducted varies across area councils, with notable figures in Bwari (158), Kuje (67), and AMAC (30). “Similarly, the number of abductions in each area council shows higher rates in Bwari (20), Kuje (11), and AMAC (  , underscoring the pressing need for improved security measures.”The report highlights several chilling incidents, including the abduction of Mansoor Al-Kadriyar and six of his daughters on 5 January. Impact on Residents In the wake of these incessant attacks, Abuja residents have been compelled to take extensive measures to safeguard themselves and adapt to the grim reality. Interviews conducted with respondents across the city underscore the economic repercussions and profound impact of the kidnap epidemic on the lives of residents. Safety concerns have prompted many residents to ensure they return home before dark, disrupting the routines of those who work in the night economy. Affluent individuals seek refuge in the relative safety of hotels, while others shun public transportation in favour of ride-hailing services like Uber, leading to increased transport costs for many. Escalating Security Costs and Economic Fallout To fortify their defenses, many residents have invested in enhancing their security infrastructure, leading to escalated security costs. Some resort to extreme measures such as arming themselves with weapons like pepper sprays and knives. Families of victims bear untold financial losses and endure strained relationships, contributing to increased migration and brain drain. “The economic toll of insecurity is staggering, with business revenue in Abuja plummeting by 33%. Estate security fees have surged by 20%, while transport fares have skyrocketed by 100 – 250%. In upscale areas, rent has risen by 10 – 50%, exacerbating the financial strain on residents,” the report stated. Urgent Call for Government Action In light of these alarming developments, SBM Intelligence recommends swift government action against rising kidnappings, including enhanced security measures and provision of public transportation. “Given that the government’s primary obligation is to ensure the safety and security of its citizens, the government needs to urgently implement the recommended measures so as to ensure a community safe for all residents,” it added. https://www.vanguardngr.com/2024/02/business-revenue-in-abuja-down-33-due-to-insecurity-report/amp/ |
| Politics › Re: Tinubu Screws Nigeria Over In Paris, Returns OPL 245 Ownership To Shell-eni by treesun(op): 2:28pm On Feb 01, 2024 |
Mynd44! |
| Politics › Re: 15 Persons Killed In Ugboju, Agatu, Benue State (Graphic Photos) by treesun(op): 11:07am On Feb 01, 2024 |
iwaeda:Nlfpmod, how many will die before we wake up! 1 Like |
| Politics › Re: 15 Persons Killed In Ugboju, Agatu, Benue State (Graphic Photos) by treesun(op): 9:58am On Feb 01, 2024 |
And one Deluded Bayo Onanuga is telling us, press is hyping the killings! 58 Likes 1 Share |
| Politics › 15 Persons Killed In Ugboju, Agatu, Benue State (Graphic Photos) by treesun(op): 9:42am On Feb 01, 2024 |
At least 15 bodies have been recovered after an attack by armed invaders on Ugboju community in Agatu Local Government Area of Benue State.https://dailytrust.com/breaking-15-killed-in-fresh-attack-on-benue-community/
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| Politics › Re: Tinubu Screws Nigeria Over In Paris, Returns OPL 245 Ownership To Shell-eni by treesun(op): 8:28pm On Jan 31, 2024 |
christistruth01:Give us true news! 1 Like |
| Politics › Re: Tinubu Screws Nigeria Over In Paris, Returns OPL 245 Ownership To Shell-eni by treesun(op): 3:04pm On Jan 31, 2024 |
Nlfpmod! |
| Politics › Tinubu Screws Nigeria Over In Paris, Returns OPL 245 Ownership To Shell-eni by treesun(op): 9:06am On Jan 31, 2024 |
President Bola Tinubu has restored the ownership of OPL 245 to European oil majors Eni and Shell, Peoples Gazette learnt this week, all but assuring an end to a yearslong corruption inquiry into the massive yet highly controversial deepwater oilfield. But the president agreed to the deal largely to expand his own riches when he was supposed to maximise its benefits for the Nigerian people, according to two officials familiar with the development. Months ago, as a precursor to the agreement finalised in London and Paris over the past week, Eni had transferred its onshore assets to Oando, run by the president’s nephew Wale Tinubu. The Gazette was told that there was an arrangement brokered by Mr Tinubu’s controversial ally Gilbert Chagoury that helped Oando acquire Nigerian Agip Oil Company Ltd and other Nigerian assets of Eni towards the end of 2023. The president also withdrew all existing cases against Shell and Eni from international tribunals and allowed both firms to take back control of OPL 245 based on the old contract under Goodluck Jonathan and without fresh dues to Nigeria. Following the transfer, which came in September 2023, Oando rapidly doubled its oil reserves to nearly one billion barrels, the company said. Both Eni and Oando did not disclose the amount involved, saying it was “price sensitive.” American investment banker Jefferies Group, however, said the deal was around $500 million. The sale appeared to have landed a hitherto struggling Oando its biggest-ever payday just within the first six months of its CEO’s uncle, believed to own a secret interest in the firm, being Nigerian president. Once a dealer The deal came last week after Nigerian officials departed Abuja on January 23 for London, where a so-called “new resolution agreement” was entered with representatives of the two oil firms. Those The Gazette heard were on the trip included state petroleum minister Heineken Lokpobiri, head of Nigerian upstream regulator NUPRC Gbenga Komolafe, attorney-general Lateef Fagbemi and anti-graft chief Ola Olukoyede. After signing the deal in London, the officials left for Paris to meet the president with the details, The Gazette heard. Mr Lokpobiri mounted enormous pressure on the Nigerian team to ensure the deal was reached, a source said. “He kept saying the president had an interest in the deal,” an official said. “We later found out that the deal was the main reason the president travelled to Paris.” One seething official feared the agreement could backfire and ensnare Nigeria in another round of international corruption controversy. Already, the newly revamped national oil company NNPC had distanced itself from the deal, saying it was never consulted by Eni despite holding interest in the business as a joint venture. In a September 4 letter to Eni, NNPC decried the Oando sale as a major breach and threatened to explore options towards reversing it and holding the Italian group accountable. NNPC H But Eni promptly fired back, saying it was under no obligation to inform its Nigerian counterpart before disposing of the assets. “NNPC has a pre-emption right on the JV shares, but Eni doesn’t have any contractual obligation to inform beforehand NNPC about the deal, also because the information was price sensitive for the potential buyer,” the firm stated. The Gazette heard that the NNPC has since backed down after learning of the president’s involvement in the contract. A spokesperson for the firm did not answer a call seeking comments. The deal appeared to suggest that Mr Tinubu was not ready to let go of his reputation as one of Nigeria’s fabled plutocrats, another official said this week. “We thought that he would want to use the office of the president to rehabilitate himself,” a senior administration aide told The Gazette under anonymity on Tuesday evening. “But it seems that he spends every day trying to validate his worst inclinations as a dyed-in-the-wool con man.” Prior to his election in February 2023, Mr Tinubu was the subject of a widely publicised U.S. court document that detailed his involvement in narcotics activities between the 1980s and 1990s. He was also previously exposed by The Gazette to have used his businesses to loot the Lagos treasury to the tune of billions of dollars. Months after his election, the president was found to have gamed his way into power using falsified academic records in violation of the Nigerian Constitution. The Supreme Court sidestepped the case to keep him in power. It was the second time the now-Nigerian leader would escape accountability for forgery, coming over a decade after a federal prosecutor charged and subsequently withdrew a criminal case against him over a slew of fraudulent submissions to the electoral office INEC when he successfully sought office as Lagos governor. Mr Tinubu has taken initial measures that convinced a section of the country about his readiness to combat corruption. He recently proactively suspended a minister accused of mismanagement, and queried another believed to be tied to the same scandal. This week, the president also asked the NNPC to direct its revenues to the central bank, earning widespread accolades from public finance experts, including prominent members of political opposition like Kingsley Moghalu. But beaming a spotlight on his handling of OPL-245 ownership could potentially remind Nigerians of the president’s unsavoury past and keep him under close scrutiny, one of his aides said. Presidential spokesman Bayo Onanuga won’t speak on the deal when reached Tuesday night, suggesting instead that only NNPC and NUPRC can clarify questions surrounding the deal. Shell, Eni and Oando did not comment between Monday and Tuesday. Lessons discarded The oil prospecting licence 245 in Nigeria’s offshore deepwater has courted controversy since April 29, 1998, when it was first awarded by Sani Abacha to Malabu Oil & Gas Ltd, a shady shell business linked to ex-convict Dan Etete, who was at the time serving as Nigeria’s petroleum minister. Eni estimated that the field could readily produce a reserve capacity of 560 million barrels, with experts saying the block’s actual reserve ranged from six to nine billion barrels. A 2018 report by HEDA and Global Witness found Nigeria stood to earn roughly $6 billion via long-term mining from the field, which sits about 150 kilometres south of Nigeria in the country’s territorial waters in the Gulf of Guinea. deepwater oil platform Deepwater oil platform(Credit: Nola.com) In March 2001, Malabu transferred 40 per cent of its ownership to Shell at $18 million. But a few months later, in July, President Olusegun Obasanjo abruptly withdrew ownership of the field from Shell and gave sole ownership to state-run NNPC. In 2002, NNPC transferred full ownership of the block again to Shell at a signature bonus of $210 million, which was locked in an escrow until all disputes had been resolved with the government, Malabu and other parties. In 2011, Shell partnered with Eni to pay the $210 million, saying it was the largest ever received by Nigeria for a prospecting licence to date. The 2011 payment later became one of the biggest scandals of the Jonathan administration and, evidently, the biggest embarrassment Nigeria suffered abroad in its handling of oil deals. Dubbed Malabu oil scandal, it exposed how several Nigerian officials, including former attorney-general Bello Adoke, colluded with Mr Etete, a money-laundering convict, to use Nigeria as a middle-man in the murky deal. About $1.1 billion from Shell and Eni was said to have been disbursed to the Nigerian officials involved through JP Morgan. Both Shell and Eni admitted knowledge of Mr Etete’s criminal background but, nonetheless, denied bribing him and other Nigerian officials. An Italian top court found both firms not guilty of any wrongdoing in the deal in a 2021 ruling. Mr Adoke also strongly denied any wrongdoing on behalf of himself and other Nigerian officials named with him, but a 2019 Abuja court warrant for Mr Etete’s arrest remained outstanding. ENI, SHELL ENI, SHELL Still, a senior official said the president was hasty in pulling back from other lawsuits relating to the OPL 245 field that were instituted by the previous administration. Unlike Mr Tinubu, President Muhammadu Buhari rebuffed all pressure to resolve the matters outside international tribunals. Mr Tinubu “discarded all the lessons Nigeria should have learnt from the Malabu oil scandal,” the official said under anonymity to steer clear of retribution. “His personal interest should not take precedence over Nigeria’s.” 50-50 Whereas Mr Tinubu prioritised his business interest around the deal, The Gazette was told Nigeria would benefit from a profit-sharing arrangement after the OPL 245 has successfully transformed into an extraction field due largely to a deal offered to the erstwhile Buhari administration. One of our sources said Shell and Eni would be compelled to keep to an earlier proposal made to Mr Buhari’s government, but which was suspended until a final resolution of the matter had been reached. Mr Buhari was pushing for a final decision on the civil liabilities of both Shell and Eni in London and Milan, respectively, before accepting an offer of 50 per cent of all proceeds from the field, according to sources. Mr Buhari’s argument was that the $1.1 billion, including the $210 signature bonus received by the Jonathan administration, that Shell and Eni paid to secure the licence in 2011 was a futile arrangement because the block should not have been awarded to Mr Etete in the first place. Dan Etete Dan Etete [Photo credit: Naira Metrics] The outgone administration based its argument on Nigeria’s code of conduct statute that barred public servants from awarding federal projects to themselves. As a minister in Mr Abacha’s government, Mr Etete should not have awarded OPL 245 ownership to a firm in which he had significant interest. With Mr Tinubu backing down from his predecessor’s $1.1 billion lawsuit against Shell and Eni in Nigeria and foreign jurisdictions, Eni also suspended its arbitration claims pending before the World Bank. “So what we are working with now is for the president to insist on the 50 per cent that Shell and Eni proposed in the past now that the cases have been withdrawn and parties are back on the same page,” an official said. “Since he has eaten his own, he should not restrain Nigeria’s hands.” https://gazettengr.com/exclusive-tinubu-screws-nigeria-over-in-paris-returns-opl-245-ownership-to-shell-eni-after-cornering-lucrative-onshore-assets-to-nephew-wales-oando/ 1 Like 1 Share |
| Politics › Shettima: Kidnappings, Banditry Will Be Drastically Curtailed With Job Creation by treesun(op): 3:04pm On Jan 30, 2024 |
Vice President Kashim Shettima has said delivering on the priority areas will help in addressing some of the challenges bedeviling the country, particularly the security situation occasioned by terrorism, kidnapping and banditry. The vice president stated this on Monday when he received the Global Managing Director of the Tony Blair Institute, Mr Michael McNair, who was on a courtesy visit to the Presidential Villa, Abuja. He said as soon as the government created jobs and engaged the youths, the challenges of terrorism, kidnappings and banditry would be drastically curtailed. He urged development partners to provide more support for the Tinubu administration to deliver on the Renewed Hope Agenda, especially in priority areas such as e-mobility, job creation, agriculture, food security and the power sector, among others. Shettima urges African leaders to ramp up 3% of continent’s global GDP Absence of judge stalls trial of Kano APC stalwart, Danbilki Sen. Shettima who noted the commitment of the Tinubu administration to delivering on the Renewed Hope Agenda said, “It is easy to talk but how to walk the talk is the most important component of leadership”. In support of the Tinubu administration’s drive to deepen the deployment and use of e-vehicles for public transportation, the vice president urged the TBI to make available its expertise in enhancing the adoption of the technology in Nigeria. The VP applauded TBI’s partnership with Nigeria, especially in the nation’s “Effort to deepen the quality of governance and leadership in priority areas of job creation, agriculture and food security, support for the power sector through the Niger Delta Power Holding Company (NDPHC) and the delivery unit that will track our efforts.” On his part, the Global Managing Director of the Tony Blair Institute, Mr Michael McNair, commended President Tinubu and Vice President Kashim Shettima’s leadership, noting that the VP’s impressive outing at the World Economic Forum, particularly his commitment to Africa’s future, was indicative of the country’s direction. https://dailytrust.com/shettima-kidnappings-banditry-will-be-drastically-curtailed-with-job-creation/ |
| Politics › Yahaya Bello Cancels Okene Trip, Hides To Evade EFCC Arrest - Sahara Reporters by treesun(op): 11:06am On Jan 30, 2024 |
Kogi Ex-Governor, Yahaya Bello Cancels Okene Trip, Currently Hiding To Evade EFCC Arresthttps://saharareporters.com/2024/01/30/exclusive-kogi-ex-governor-yahaya-bello-cancels-okene-trip-currently-hiding-evade-efcc
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| Politics › Re: 2,423 Nigerians Killed With 1,872 Kidnapped Under Tinubu Presidency – Group by treesun(op): 4:07pm On Jan 29, 2024 |
Nlfpmod! 2 Likes |
| Politics › 2,423 Nigerians Killed With 1,872 Kidnapped Under Tinubu Presidency – Group by treesun(op): 2:20pm On Jan 29, 2024 |
The Nigerian Government has been asked to take actionable steps to end the endemic insecurity, mitigate further attacks by kidnap syndicates and terrorist groups, and, account for persons missing in these attacks.https://ait.live/2423-nigerians-killed-with-1872-kidnapped-under-tinubu-presidency-group/ 3 Likes 1 Share
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| Sports › Jannik Sinner Wins Australian Open Champion by treesun(op): 3:10pm On Jan 28, 2024 |
GRAND SLAM CHAMPION 💪 Jannik Sinner, in his first Grand Slam final, has become #AusOpen champion! He came from two sets down to beat Daniil Medvedev 🔥 https://twitter.com/BBCSport/status/1751583804513226964
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| Politics › Corrupt Governance Responsible For Insecurity, Banditry In North - Shettima by treesun(op): 9:50am On Jan 28, 2024 |
Vice President Kashim Shettima said corrupt governance was responsible for the crises of insecurity and banditry in the Northern part of the country.https://www.vanguardngr.com/2024/01/corrupt-governance-responsible-for-insecurity-banditry-in-north-shettima/amp/ 2 Likes
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| Politics › Re: FG Can’t Recruit Area Boys To Collect Taxes – Taiwo Oyedele by treesun(op): 8:09pm On Jan 27, 2024 |
Nlfpmod! 1 Like |
| Politics › FG Can’t Recruit Area Boys To Collect Taxes – Taiwo Oyedele by treesun(op): 7:34pm On Jan 27, 2024 |
The Chairman, Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele has debunked news making the rounds that the committee would recruit area boys to enforce the payment and collection of taxes.https://punchng.com/fg-cant-recruit-area-boys-to-collect-taxes-taiwo-oyedele/ 9 Likes
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| Politics › Re: Bandits Dressed In Hijab Attack Police Checkpoint, Kill Two Inspectors In Katsin by treesun(op): 2:20pm On Jan 27, 2024 |
¡ |
| Politics › Re: Bandits Dressed In Hijab Attack Police Checkpoint, Kill Two Inspectors In Katsin by treesun(op): 9:27am On Jan 27, 2024 |
History555:Phillip? |
| Politics › Re: Bandits Dressed In Hijab Attack Police Checkpoint, Kill Two Inspectors In Katsin by treesun(op): 9:21am On Jan 27, 2024 |
Hmm! |
| Politics › Bandits Dressed In Hijab Attack Police Checkpoint, Kill Two Inspectors In Katsin by treesun(op): 7:27pm On Jan 26, 2024 |
Bandits Dressed in Hijab Attack Police Checkpoint, Kill Two Inspectors In Katsina Regional They carted away their rifles, leaving behind their operational vehicle and teargas at the checkpoint. Two police inspectors have been killed by gunmen suspected to be terrorists who dressed in Hijab at a checkpoint in Gurbin Magarya village along Jibia-Batsari road in Katsina state. A credible security source, who confirmed the incident in a telephone interview on Friday, said the officers were killed by the suspected terrorists on Thursday evening. He explained that the hoodlums after killing the police Joint Border Patrol inspectors, carted away their rifles, leaving behind their operational vehicle and teargas at the checkpoint. He said: “Some gunmen suspected to be bandits on bike killed two police inspectors and ran away with their guns at a checkpoint at Gurbin Magarya village along Jibia-Batsari road. “They attacked the police Joint Border Patrol checkpoint at about 4pm yesterday (Thursday) dressed in Abaya (Hijab). The corps of the officers have been evacuated to Katsina general hospital’s matury.” But when contacted, the State Police Public Relations Officer, ASP Abubakar Sadiq Aliyu, feigned ignorance of the incident. He, however, promised to investigate and get back to our correspondent but he did not as of press time. https://www.arise.tv/bandits-dressed-in-hijab-attack-police-checkpoint-kill-two-inspectors-in-katsina/#google_vignette |
| Politics › Re: Power Generation Crashes To 3,383MW Despite Hike In Tariff by treesun(op): 7:25pm On Jan 26, 2024 |
Nlfpmod! |
| Politics › Power Generation Crashes To 3,383MW Despite Hike In Tariff by treesun(op): 11:46am On Jan 26, 2024 |
The recent increase in electricity tariff by the Nigerian Electricity Regulatory Commission, NERC, has failed to translate to improvement in power supply as on-grid generation fell to 3,383 Mega Watts as at 3pm yesterday.https://www.vanguardngr.com/2024/01/power-generation-crashes-to-3383mw-despite-hike-in-tariff/
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| Politics › Tinubu’s Administration Owes Nigerians An Explanation For The NNPC $3.3bn Loan by treesun(op): 5:43pm On Jan 25, 2024 |
PRESS STATEMENT SIGNED BY H.E ATIKU ABUBAKAR Tinubu’s administration owes Nigerians an explanation for the NNPC $3.3bn emergency loan In what appears to be a landmark economic decision of the Bola Tinubu-led administration, the Federal Government last year, precisely on August 16, 2023 through the Nigeria National Petroleum Company (NNPC) secured a $3.3 billion emergency crude repayment loan, which according to the NNPC, was to help give support to the Naira and stabilize the Foreign Exchange market. The curious thing about this transaction is that up till now, the Federal Government continues to keep mum about it, and the only information available to the public on the mega deal is coming only through unofficial sources from the NNPC. The deal is supposed to be a crude-for-cash loan arranged by the African Export-Import Bank. According to information available, a Special Purpose Vehicle called Project Gazelle Funding Limited is driving the deal, and it was incorporated in the Bahamas. The SPV is the borrower while the NNPC is the sponsor, with an agreement to pay with crude oil to the SPV in order to liquidate the loan at an interest rate that is a little over 12 per cent. What is even more confounding about this deal is why the Federal Government would register a company in the Bahamas, knowing full well the recent scandal of the Paradise Papers that involved that country. Curiously also, Nigeria’s current Barrels Produced Daily (BPD) is 1.38 million, and according to the Project Gazelle deal, Nigeria is to supply 90,000 Barrels of its daily production, starting from 2024 till it is up to 164.25 million barrels for the repayment of the loan. Now, this is where the details get disturbing because Nigeria’s benchmark for the sale of crude per barrel in 2024 is $77.96. A simple multiplication of that figure by 164.25 will give us a whooping $12bn. It is on this note that we are calling on the Federal Government to speak up on this shady deal. It is inconceivable that the Federal Government will lead the country to take a loan of $3.3b with an interest rate that is not more than 12 per cent, but with estimated repayment amounting to $12bn. That is a humongous differential of about $7b between what is in the details of the deal on paper and what indeed is the reality. There are questions to be answered on the integrity of this deal, and we earnestly request the Federal Government to talk directly on these cloudy details behind the deal. We therefore demand, on behalf of the ordinary people of Nigeria, that the Federal Government provides answers to the following questions. 1. Has the Federal Government accessed the loan? 2. Is the loan in the government’s borrowing plan as approved by the National Assembly? 3. Who are the parties to the loan, and what specific roles are they expected to play? 4. What are the conditions to the loan, including tenor, repayment terms, the collateral, and the interest rate? 5. And, lastly, why register an SPV in the Bahamas knowing the recent scandal of the country’s notoriety for warehousing unclean assets? Signed: Atiku Abubakar Vice President of Nigeria, 1999-2007 25th January, 2024. https://twitter.com/Rasheethe/status/1750559205746974972?t |
| Politics › Re: Mangu: Gunmen Defy Curfew To Kill Over 20, Burn Houses In Communities by treesun(op): 12:35pm On Jan 24, 2024 |
iwaeda:Bros middle belt will be over run, Nlfpmod! 4 Likes |
| Politics › Mangu: Gunmen Defy Curfew To Kill Over 20, Burn Houses In Communities by treesun(op): 11:24am On Jan 24, 2024 |
Gunmen in the early hours of Wednesday defied the 24-hour curfew imposed by the Plateau State government to attack Kwahaslalek and the surrounding communities, killing no fewer than 25 persons and burning some property too.https://www.vanguardngr.com/2024/01/mangu-gunmen-defy-curfew-to-kill-over-20-burn-houses-in-communities/amp/ 1 Share
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| Politics › Re: DSS Arrests Abdulmajid DanbilkiKwamanda Who Threatened To Make Kano Ungovernable by treesun: 10:11pm On Jan 23, 2024 |
| Politics › You Will Soon Enjoy Benefits Of Tough Decisions, Tinubu Assures Nigerians by treesun(op): 10:09pm On Jan 23, 2024 |
President Bola Ahmed Tinubu has promised that Nigerians would soon enjoy the benefits of the “tough but yet necessary decisions” of his administration.https://dailytrust.com/youll-soon-enjoy-benefits-of-tough-decisions-tinubu-tells-nigerians/ 9 Likes 4 Shares
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| Forum Games › Re: Governor Mutfwang Declares 24-Hour Curfew In Plateau LG by treesun(op): 12:28pm On Jan 23, 2024 |
Mynd4,Nlfpmod please help move![/b] |
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