₦airaland Forum

politicoNG:
https://nannews.ng/2023/10/09/fg-no-longer-paying-fuel-subsidy-kyari/

GuruboiNaija:
https://.ng/2023/10/08/tinubu-govt-planning-to-gag-media-ahead-of-release-of-fbi-files-atikus-aide-alleges/

The Senate has called for the privatisation of moribund oil refineries owned by the Federal Government.

This call was made by the Senate through its committee on Finance, chaired by Senator representing Niger East and a member of the All Progressives Congress, Sani Musa.

Musa made the call in Abuja on Saturday while fielding questions from journalists on the way forward after the celebration of the country’s 63rd Independence anniversary.

According to him, the refineries have more or less turned into bottomless pits for the government as far as turnaround maintenance was concerned.


“For me, my candid advice to the Federal Government on the nation’s apparently moribund oil refineries is for them to be privatised.

“Proceeds from such privatisation should be sunk into the mining sector for jobs creation for the teeming Nigerian youth who are roaming the streets on a daily basis.

“The youth constitute 70 per cent of Nigeria’s population and must be made to be productive which is doable if the mining and Agricultural sectors are repositioned for that.”


Senator added, “The Not too young to run opportunity given to the youth in the political terrain should be practically extended to the realm of innovation by providing them with a conducive environment and enablement to innovate as it is, in most developed countries.”

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has confirmed the return of fuel subsidy under President Bola Tinubu.

President Bola Tinubu had announced the removal of fuel subsidy on his first day in office, leading to increase in fuel price from N197 to between N480 and N570, the pump price was subsequently reviewed upward to N620.

However, there were reports that the price would go up as a result of fluctuation in the global oil market.

There were reports that the federal government intervened to prevent further rise in pump price, but the government denied this.

However, Daily Trust subsequently found documents which showed that despite the numerous assurances by Tinubu that subsidy was gone, the federal government paid N169.4 billion as subsidy in August to keep the pump price at N620 per litre.

A document by the Federal Account Allocation Committee (FAAC), sighted by our reporter, showed that in August 2023, the Nigerian Liquefied Natural Gas (NLNG) paid $275m as dividends to Nigeria via NNPC Limited. NNPC Limited used $220m (N169.4 billion at N770/$) out of the $275m to pay for the PMS subsidy. Then NNPC held back $55m, illegally.

The government neither confirmed nor denied the story.

Speaking on Channels Television’s Politics Today, Festus Osifo, National President of PENGASSAN, said due to the cost of crude oil in the international market and the exchange rate, the government still pays subsidies on petrol.

“They [government] are paying subsidy today. In reality today, there is subsidy because as of when the earlier price was determined, the price of crude in the international market was somewhere around $80 for a barrel. But today, it has moved to about $93/94 per barrel for Brent crude. So, because it has moved, then the price [of petroleum] also needed to move,” he said.

He said before the government can stop subsidising petroleum, two things must happen.

“The only reason the price will not move is when you are able to manage your exchange rate effectively and you are able to pump in supply and bring down the exchange rate.

“So, if the exchange rate comes down today, we will not be paying subsidy. But with the exchange rate value and the price of crude oil in the international market, we have introduced subsidy,” the PENGASSAN boss said.

The Federal Government has announced the indefinite suspension of the N-Power program.

Betta Edu, Minister of Humanitarian Affairs and Poverty Alleviation, made the announcement while featuring on a TVC news program on Saturday.

She said the decision was birthed by some irregularities within the scheme, noting that the government has launched investigation into the utilization of funds since the program began.

The Minister claimed that some of the beneficiaries are not found in their place of assignments yet they expect monthly stipends.

According to her, some of the beneficiaries ought to have exited the program since 2022 but are still on the payroll.

She said, “We must go back to look into N-Power and understand what the problems are so we will basically suspend the programe for now until we are done with proper investigation into the utilization of fund into the N-Power program.

“We want to know how many persons are basically on the program right now, how many persons are owed, amount they are owed. We are totally restructuring the N-Power and expanding it.

“There are lots going on. We met people who are supposed to have exited the program since last year and they are still on claiming that they are still teaching.

“Sometimes we contact the school or the places where they are working and they are not there. They are not working yet they keep claiming that they are being owed eight or nine months stipends.

“About 80 percent of them are not working yet they are claiming salaries”.

DAILY POST reports that N-Power Program was launched by the administration of former President Muhammadu Buhari to address the issue of youth unemployment and help increase social development.

kunle4toyeyaho:
Did he state Government college in his INEC form? That argument would be trashed effortlessly

Misterone:
😆😆😆😆😆😆 una no dey tire! From he did not attend the university to he did not attend secondary school 😆😆😆😆😆😆 una just dey jump from pillar to post 😃😃😃😃😃 cornfused folks 😃😃😃😃 next will be his ass has white hairs 😃😆😆😆😆 rubbish! Litigation must have an end. If una like, find out rubbish, the courts will throw them away like plague. 😆😆😆😆😆😆

aminulive:
Chicago State University has resolved the controversy surrounding President Bola Tinubu’s academic background by confirming the authenticity of his records and certificates, as revealed in a collection of documents obtained by this newspaper.

The Opposition Peoples Democratic Party (PDP) Presidential candidate in the 2023 election, Atiku Abubakar, had subpoenaed the university to provide records of Tinubu’s graduation in 1979.

In compliance with a US court order, the university submitted the documents to Abubakar’s legal team on Monday. However, since the submission, numerous reports have circulated, insinuating that the President forged his certificates or had a forged identity.

Nevertheless, the full transcripts of the deposition given by the university’s registrar, Caleb Westberg, have vindicated the President and put the controversies to rest.

During the deposition, which lasted over two hours, Westberg provided details on how the university authenticated Tinubu’s documents, including a replacement certificate. The 125-page deposition obtained by this newspaper revealed that Westberg mentioned the university had been receiving inquiries about Tinubu’s records for the past 20 years, ranging from five to 30 requests per day.

Validation

The CSU Registrar affirmed that Tinubu graduated from the institution in 1979, majoring in Accounting under business administration. He also verified that the certificates presented by the university in 1979 bore similarities with the replacement diploma Tinubu obtained in 1999.

The university had provided other replacement diplomas with the same design, font, and logo as the one presented to Bola Ahmed Tinubu.

Confirming Tinubu’s certificate, Westberg noted that the institution possessed a reordered copy of the President’s replacement diploma. He also clarified that the university held copies of the President’s transcripts as additional evidence of his scholarship.

“In general in the US, the diploma is a ceremonial document. In other countries, it is a more official document. For us, it is not,” he noted.

Gender Argument

Central to the controversies was the speculation that some of the documents addressed Tinubu as a female.

Examining Westberg’s testimony, Abubakar’s attorney, Angela Liu, asked, “So how are you sure that Bola A. Tinubu, listed here as female, is the same Bola A. Tinubu, who is President of Nigeria?”

Addressing the discrepancy, Westberg stated that the university was not confused about Tinubu’s gender.

“The university is not confused about that. We issued an admissions letter to Mr. Bola Tinubu. He applied as a male student. That is a part of the record,” he said.

Regarding the review of the SSN (social security number) on the document being circulated as showing Bola Tinubu as female, the registrar stated that it was clearly an error.

“Human errors happen,” the official commented.

When asked how the university concluded that President Tinubu was the same as the Bola Tinubu who attended the school in the 1970s, Westberg noted that the school reviewed materials, including Tinubu’s student file, addresses, names, fields of study, and other relevant details.

“The university would have reviewed all of these materials when we received them,” he stated in response to a question from Tinubu’s lawyer, Henderson.

https://politicsnigeria.com/full-documents-how-csu-authenticated-tinubus-records-and-replacement-diploma/

Many petroleum products depots are currently deserted due to lack of products caused by foreign exchange rate volatility, as the landing cost of Premium Motor Spirit, popularly called petrol, has increased to N720/litre, oil marketers said on Thursday.

Petroleum products’ dealers also stated that filling stations were shutting down daily in large numbers, as it was becoming increasingly tough to run the business. They said this could lead to widespread fuel scarcity in coming months.

It was further gathered that the landing cost of PMS into Nigeria had increased to N720/litre, up from N651/litre in August this year.

Speaking at the National Executive Council meeting of the Natural Oil and Gas Suppliers Association of Nigeria, in Abuja on Thursday, the National President, NOGASA, Benneth Korie, said a lot of depots were presently dried up or out of stock.

He said, “Depot owners are so terribly affected by the increasing cost of crude oil and exchange rate, to the extent that many depots are practically deserted as their owners are unable to secure bank loans to fund their business due to high-interest rates.

“Banks are not willing to guarantee funds release to stakeholders as a result of the difficulty, instability and galloping rates of foreign exchange and high cost of the dollar. Many depots are presently dried up or out of stock, and this is no gainsaying as it is evidently verifiable.”

He added, “Worst hit are filling stations whose owners find it extremely difficult to secure funds to procure products for their retail outlets. Both the independent and major marketers are so terribly affected.

“As of today, filling stations are shutting down in great numbers on a daily basis and dealers are going out of business, with many more on the verge of bankruptcy because of their inability to secure funds to facilitate orders for their stations.”

Korie said the government must therefore urgently come to the aid of the industry as quickly as possible to save it from an impending colossal collapse, which would result in a more devastating blow to the economy at large.

The PUNCH further gathered that the landing cost of petrol has risen to N720/litre from N651 in August.

The Chief Executive Officer, PETROCAM Trading (Nig) Ltd., Patrick Ilo, during an interview session with The PUNCH, said 52,000 metric tonnes of petrol imported by the company on Tuesday was already N720/litre without subsidies.

According to him, if the landing cost was already N720, the pump price should be around N729/litre in Lagos State if the Federal Government had truly stopped subsidising the product.

“This is the second time I am bringing in my vessel. But after bringing it in, I am trapped. I can’t sell it because I landed my own product at N720. And if you add transportation from depot to station, the value today should be N729/litre at the pump.”

He blamed the price hike on high foreign exchange rate, adding that the Federal Government was still subsidising petrol through the Nigerian National Petroleum Company Limited.

The foreign exchange rate of the Central Bank of Nigeria as of Wednesday was around N766/$1, while it hovered around N990/$ at the parallel market.

He said.”Yes, PETROCAM has an import license, and we have products in Nigeria. I want to say this out loud that I brought (in product) 52,000 metric tonnes of PMS today, which I borrowed about sixty-something million dollars to import.

“But I cannot sell. Why? Because of the price NNPC is selling. NNPC to my mind, they are still subsidising. NNPC is quietly subsidising the market. And I don’t blame the government. It is when we have a stable government that there could be prosperity.”

Ilo added, “As of today, NNPC is subsidising these products. And I’m talking about a subsidy of more than N100/litre. Because if you need to sell today, I landed my own product at N720. So how do you look at it? You look at it from the perspective of how much is diesel”

Taiwo Oyedele, the Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, has said that the National Assembly has spent over N10 trillion on the country’s refineries, yet they do not work, he said this during the Platform Nigeria symposium held on Monday, October 2 in Lagos.

According to him, the refineries are better off sold.

He said:

“Nigerians would say if only our refineries were working, then we will be fine. Nothing can be farther from the truth than that. In fact, Nigerians should come together and say please make sure that our refineries do not work. We should sell them.

“The National Assembly said we have spent over N10 trillion maintaining our refineries even when they have not produced anything
“If Nigerian refineries process crude oil unless we deal with our inefficiency, one litre of petrol will be the most expensive in the world. You would have succeeded in replacing the subsidy at the pump with the subsidy for the refineries.”

N11.3 trillion: Status quo

Indeed, in August 2023, the National Assembly announced that it would probe the alleged N11.3 trillion expenditure by the Federal Government on Nigeria’s refineries’ turn-around maintenance between 2010 and 2020.

According to the House of Representatives Committee Chairman on Public Accounts, there is concern over the deplorable state of Nigeria’s refineries despite the significant amount of money spent on their maintenance over the past decade.

He emphasized that there should be consequences for wasteful spending.

Meanwhile, the Buhari administration kickstarted a process of another round of refinery rehabilitation for the Warri, Kaduna and Port Harcourt refineries which are still ongoing under the Tinubu administration, and it has been announced that between December 2023 and 2024, all the refineries will be active, this is according to the current Minister of State for Petroleum Resources, Heineken Lokpobiri.

A supporting argument

As noted by Oyedele, the imperative to address inefficiencies mandates serious consideration of selling off the refineries, unless the country is fully prepared to confront these challenges.

This perspective is echoed by oil and gas analyst, Dan D. Kunle, who emphasized the government’s struggles with inefficiency within the public sector.

Kunle stressed that for effective management and operation, the oil and gas sector should be entrusted to the private sector. He contended that the sector’s multitude of challenges stems from the government’s pervasive involvement in various aspects.

Kunle underscored that the private sector has demonstrated superior efficiency in operations compared to its public sector counterparts.

Thus, he advocated for the downstream sector to be entrusted to private entities, highlighting their capacity to deliver optimal efficiency.

Previously, Mr. Kunle lamented the lack of activity and underutilization of vital components within the Warri refinery, such as the petrochemical plant and the black carbon plant.

These facilities, designed to produce crucial raw materials for Nigeria’s tire industry, have remained inactive for years under government control.

Phantom233:
Same story the dead man called Buhari told us for complete 8yrs. Now this same man callt Tinubu was the brain behind Buhari's administration. I wonder why he's not blaming Buhari for his woes.

The wife of the President, Senator Remi Tinubu, has urged Nigerians to have faith in her husband to turn the country around.

Tinubu, who said her husband isn’t a magician, noted that her husband would work “brick-by-brick” to better the lots of the citizens.

She spoke at the inter-denominational church service held to commemorate the Independence Day celebration in Abuja on Sunday.

Tinubu said her husband would not heap blame on past administrations, adding that he would toil to transform the country.

She said, “We just came back from UNGA; it was successful for us as a nation. The world awaits Nigeria, and investors are teeming. We came back with good news. All we inherited are things that happened many years ago. We are not here to put the blame on any administration, but to fix what has been damaged.

“My husband is not a magician. He is going to work brick-by-brick, and I believe and have hope that you will have faith in this administration. The best is yet to come.”

As the nation marks her 63rd Independence Day Anniversary, the First Lady appealed to Nigerians to celebrate the unity that defines our diversity.

She urged Nigerians to look beyond the current realities on the ground and have hope in her husband’s administration.

She said, “Nigerians must look beyond their current realities and embrace hope anew. If we do not have hope, how do we become part of this greatness that God has started in the nation? We find through the love of Christ a deeper message of hope, especially in the theme for this year’s celebration, “Christ in you, the hope of glory.

“Good governance can only be impactful if we all follow the example of Jesus Christ, our Lord, who embodied the fruit of the spirit, including love, joy, peace, long suffering, gentleness, goodness, faith, meekness, temperance and forgiveness. ”

Quoting Matthew 11 vs. 28, she said the challenges bedeviling the nation could be surmounted.

She said, “There is no challenge, obstacle, or difficulty that we cannot overcome or surmount if we imbibe the nature of Christ, who said in Matthew 11: 28; come unto me, all ye that labour and are heavy laden, and I will give you rest. Take my yoke upon you and lean on me, for I am meek and lowly in heart, and ye shall find rest with your souls. In times like these, all we do is keep our hope alive, the lively hope that Jesus Christ has birthed in us.”

BoldBrainz:
Ologunagba should have given this statement to Atiku's media spokesman to write. Na Phrank dey sabi coin menacing statements give these APC bastards.

Press Statement

CSU: Lawyers Plea Inconsistent with @officialABAT’s Academic Assertions, Says @OfficialPDPNig

The Peoples Democratic Party (PDP) charges the All Progressives Congress (APC) @OfficialAPCNg to come clean on the desperation by its lawyers in the United States to conceal certain vital details regarding the academic records of President Bola Ahmed Tinubu at the Chicago State University (CSU) from the public.

The PDP states that the Application by the lawyers urging the US District Court of Illinois not to release the said academic details are in direct conflict with the public declarations by President Tinubu that his academic records are impeccable.

The PDP recalls that President Tinubu had in a public function openly asserted to Nigerians that “I was one of those most recruited graduates of my university, multiple honours, First Class Degree and I have the reference point”

In view of the above assertion, the PDP therefore holds that the plea by the lawyers that the details of his academic record should not be released is a great disservice to President Tinubu in particular and Nigeria in general.

This desperation to conceal vital information is consistent with APC’s penchant for trickery and underhand dealings in their transactions with Nigerians which has heightened under the Abdullahi Ganduje leadership.

By appointing Dr. Ganduje as its National Chairman, despite the malodorous corruption and bribery allegations against him in the public domain, the APC further confirms itself as not only being a cesspit of corruption but also as irredeemably given to concealment and condonement of depravity, sleaze and mendacious acts.

Moreover, it is curious that the APC has remained silent on allegations and public apprehension of sabotage in the Monday, September 25, 2023 fire outbreak at the Supreme Court, which is suspected to have been an arsonist attack with the intent to cripple and frustrate the Supreme Court in the handling of the Presidential Election Appeals pending before it.

The APC must in the least acknowledge the desirability and moral duty placed on it to encourage, insist and ensure that it is transparent with Nigerians and indeed the world. Failure to discharge this duty to Nigerians is condemnable.

The litany of probes, inquiries and investigations which were instituted on various matter without reports under the APC since 2015 validates the above.

It is clear that the APC is a major threat to our Nation’s Democracy. The PDP calls on all men of goodwill across our country and beyond to stand firm in the defense of Democracy, Transparency and the Rule of Law in Nigeria, especially at this critical time.

Signed:

Hon. Debo Ologunagba
National Publicity Secretary