Connect with us

News

2023: I will liberalise power transmission if voted president -Obi

Peter Obi, Labour
Spread the love

 

Advertisement

…says Petrol Subsidy Is Organised Crime

He said this when he took his turn at the Private Sector Economic Forum for the 2023 Presidential Election that was organised in Lagos, by the Lagos Chamber of Commerce and Industry (LCCI).

Advertisement

The LCCI had played host to the presidential candidate of the Peoples’ Democratic Party, Alhaji Atiku Abubarka last Tuesday.

Obi said: “Power is something everybody is worried about. I know very well that the federal government as of today has removed power from exclusive list to concurrent list. But I will go further than that. Our power problem today is that we have privatised generation and distribution but left power transmission untouched.

Advertisement

 

“For me, the first thing I will do to ensure steady power supply is to liberalise transmission. This is critical if you are going to deal with our power sector. We will support the existing companies in the distribution and generation arms by ensuring that there is a dedicated gas supply which is one of their problems today.

Advertisement

“We will ensure that the generation, transmission and distribution are properly aligned. We will ensure clear certainty of policy and regulatory environment for them to operate. We will support them with access to funding that is attractive and deal with some of tax incentives. We have to ensure that renewable energy is embedded in our power process.’

He said his administration would limit government involvement in the power sector to providing sovereign guarantees and policy clarity and certainty that would attract private sector investment.

Advertisement

“The issue of power will have to be an emergency that we will have to deal with all means possible to ensure that we have power. To have the resources to do this, we will involve the private sector. Government does not need to be entirely involved. Government involvement will be to provide sovereign guarantees,” he said.

Obi also stated that his administration would be decisive in removing petrol subsidy, tackling the security challenges afflicting the country and putting a halt to crude oil theft, pointing out that oil theft could not thrive without people in government participating in it.

Advertisement

He said: “If we come to government in 2023, one thing that we must decisively and aggressively deal with is the issue of security. Insecurity is the number one thing that is impacting Nigeria’s economic growth today. And I need to deal with it as quickly as possible.

“We need to overhaul the entire security architecture, including having multilevel policing involving the federal, state and community and equip them properly with modern gargets.

Advertisement

See also Disclaimer: Nobody is Authorised to do Business in My Name- Chief Nnamdi Emechebe
“Nobody will be able to kidnap, keep his victim somewhere and use phone to negotiate ransom with his victim’s family” without being caught.

Obi also described petrol subsidy as an organised crime and pledged to bring it to and end by encouraging the setting up of privately owned refineries.

Advertisement

He said: “Petrol subsidy is an orgnised crime. I have said it that 60 per cent of the subsidy is corruption. That will be dealt with decisively. Secondly, we will aggressively start to ensure the promotion of local refining that is private sector driven and supply them crude oil in Naira to refine for domestic consumption.

“If you deal with insecurity and our farmers can go back to their farms and we remove subsidy and deal with corruption our inflation rate will drop.”

Advertisement

The presidential candidate identified the large expanse of uncultivated lands in the northern Nigeria as the country’s greatest physical asset that his administration would invest in and cultivate to turn around the economy.

Obi, however, did not leave his audience in doubt that his administration would borrow and invest in infrastructure.

Advertisement

He said: “There is nothing wrong in borrowing. The difference is that if you borrow for consumption you will have a problem. But if you borrow for investments your economy will grow. The reason things are not working here is that we are borrowing for consumption.

“Debt is a component of development but it must be used efficiently and effectively for purposes that will bring value so that we get from the investment will be enough to service the debt.”

Advertisement

The President of the LCCI, Dr. Michael Olawale-Cole, in his welcome address told Obi that “while the chamber is non-partisan, we are however interested in the economic agenda of the candidates and their plans to make a better Nigeria in the next dispensation.

“The chamber is aware of the overshadowing effect of politics over economics in managing the Nigerian economy and would, therefore, wish to contribute to the setting of a new economic order that can take our economy from the doldrums.”

Advertisement

The presidential candidate of the Labour Party, Mr. Peter Obi, on Monday told leaders of Nigeria’s organised private sector that his administration would totally liberalise the entire power sector value chain, including transmission, to ensure steady power supply if elected president next year.

See also Review Water Bill, State Govs Tell Lawmakers
Obi also vowed to encourage the setting up of more local refineries by private firms and to supply them crude oil in naira to refine for Nigeria’s domestic consumption.

Advertisement

He said this when he took his turn at the Private Sector Economic Forum for the 2023 Presidential Election that was organised in Lagos, by the Lagos Chamber of Commerce and Industry (LCCI).

The LCCI had played host to the presidential candidate of the Peoples’ Democratic Party, Alhaji Atiku Abubarka last Tuesday.

Advertisement

Obi said: “Power is something everybody is worried about. I know very well that the federal government as of today has removed power from exclusive list to concurrent list. But I will go further than that. Our power problem today is that we have privatised generation and distribution but left power transmission untouched.

“For me, the first thing I will do to ensure steady power supply is to liberalise transmission. This is critical if you are going to deal with our power sector. We will support the existing companies in the distribution and generation arms by ensuring that there is a dedicated gas supply which is one of their problems today.

Advertisement

“We will ensure that the generation, transmission and distribution are properly aligned. We will ensure clear certainty of policy and regulatory environment for them to operate. We will support them with access to funding that is attractive and deal with some of tax incentives. We have to ensure that renewable energy is embedded in our power process.’

He said his administration would limit government involvement in the power sector to providing sovereign guarantees and policy clarity and certainty that would attract private sector investment.

Advertisement

“The issue of power will have to be an emergency that we will have to deal with all means possible to ensure that we have power. To have the resources to do this, we will involve the private sector. Government does not need to be entirely involved. Government involvement will be to provide sovereign guarantees,” he said.

Obi also stated that his administration would be decisive in removing petrol subsidy, tackling the security challenges afflicting the country and putting a halt to crude oil theft, pointing out that oil theft could not thrive without people in government participating in it.

Advertisement

He said: “If we come to government in 2023, one thing that we must decisively and aggressively deal with is the issue of security. Insecurity is the number one thing that is impacting Nigeria’s economic growth today. And I need to deal with it as quickly as possible.

“We need to overhaul the entire security architecture, including having multilevel policing involving the federal, state and community and equip them properly with modern gargets.

Advertisement

“Nobody will be able to kidnap, keep his victim somewhere and use phone to negotiate ransom with his victim’s family” without being caught.

Obi also described petrol subsidy as an organised crime and pledged to bring it to and end by encouraging the setting up of privately owned refineries.

Advertisement

He said: “Petrol subsidy is an orgnised crime. I have said it that 60 per cent of the subsidy is corruption. That will be dealt with decisively. Secondly, we will aggressively start to ensure the promotion of local refining that is private sector driven and supply them crude oil in Naira to refine for domestic consumption.

“If you deal with insecurity and our farmers can go back to their farms and we remove subsidy and deal with corruption our inflation rate will drop.”

Advertisement

The presidential candidate identified the large expanse of uncultivated lands in the northern Nigeria as the country’s greatest physical asset that his administration would invest in and cultivate to turn around the economy.

Obi, however, did not leave his audience in doubt that his administration would borrow and invest in infrastructure.

Advertisement

He said: “There is nothing wrong in borrowing. The difference is that if you borrow for consumption you will have a problem. But if you borrow for investments your economy will grow. The reason things are not working here is that we are borrowing for consumption.

“Debt is a component of development but it must be used efficiently and effectively for purposes that will bring value so that we get from the investment will be enough to service the debt.”

Advertisement

The President of the LCCI, Dr. Michael Olawale-Cole, in his welcome address told Obi that “while the chamber is non-partisan, we are however interested in the economic agenda of the candidates and their plans to make a better Nigeria in the next dispensation.

“The chamber is aware of the overshadowing effect of politics over economics in managing the Nigerian economy and would, therefore, wish to contribute to the setting of a new economic order that can take our economy from the doldrums.”

Advertisement

Advertisement
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published.

News

BREAKING: Rivers State House of Assembly Delists Omehia, As Ex-Gov

court
Spread the love

 

Advertisement

By Gloria Ikibah

The Rivers State House of Assembly, on Thursday at plenary adopted a motion to derecognise Sir Celestine Omehia, as a former governor of the State.

Advertisement

Omehia was governor of the state from May 29, 2007 to October 25, 2007 when he was removed by the Supreme Court and replaced by Rt. Hon. Chibuike Rotimi Amaechi as the rightful governorship candidate of the PDP at the time.

Although Justices of the Supreme Court, while delivering their judgement, declared that in the eye of the law, Omehia was never a governor, but on June 25, 2015, the incumbent governor, Nyesom Ezenwo Wike, officially recognised Omehia as a former governor of the State.

Advertisement

The motion to derecognise the Ubima, Ikwerre local government area-born politician, was moved by the leader of the House, Hon. Martin Amaewhule.

Naijablitznews.com reports that the former governor is a close ally of the presidential candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar.

Advertisement

Advertisement
Continue Reading

News

Kenyan socialite Vera Sidika removes butt implants, warns girls over body enlargment + Photos

Spread the love

 

Advertisement

By Francesca Iwambe

Kenya socialite and social media personality, Vera Sidika has advised young girls not to allow peer pressure to plunge them into activities that could ruin their future.

Advertisement

Sidika gave the advice via her post on her verified Instagram page

Her advise followed her latest surgery to reduce her butt size as she admonished young girls to appreciate their natural bodies.

Advertisement

The 33-year-old social media influencer previously had butt implants which gave her a well-endowed body but had to remove them due to medical complications she had suffered.

“Due to health risks and complications, I had to undergo surgery,” Sidika said.

Advertisement

In the extensive revelation on social media, Sidika said she was fortunate to be alive while attributing this to God’s love for her as well as appreciating her husband and other members of her family.

Sidika said: “THE REBIRTH …This has been the hardest phase in my life. Due to health risks, I had to undergo surgery. It’s still very unbelievable. But I’ve come to terms with it and learnt to love myself regardless.

Advertisement

“Ladies; please learn to love yourself and don’t ever let peer pressure rush you into things that will ruin you in future. I’m lucky to be alive, God loves me so much.

Honestly, it’s been pretty hard, I didn’t even celebrate my birthday this year, but here we are.

Advertisement

“Happy birthday to me. New me. I’ve come to appreciate life and never take things for granted. Thanks to my family, especially my husband for being there for me. To my fans: I am still the same sweetest. Vera Sidika and that hasn’t changed. I appreciate y’all love and support and pray you will walk through this journey with me.

“I will be posting my surgery journey videos here, for those who have been thinking of getting booty surgery or changing anything on their bodies this might change your mind. Peace and Love.”

Advertisement

Advertisement
Continue Reading

News

ECOParl: MPs Say Covid-19, Russia-Ukraine War, Low Import Duties, Reason For Low Remittances of Community Levy

ECOWAS
Spread the love

 

Advertisement

By Gloria Ikibah

The Economic Community of West African States (ECOWAS) Parliament, have attributed the causes of low remittance of community levy by member states to the ongoing Russia-Ukraine war, low import inflow, the effect of Covid-19 on the global economy leading to recession among other factors.

Advertisement

Speaking with Journalists at the ongoing 2nd Extra-Ordinary session of the ECOWAS Parliament in Lome, a cross-section of Parliamentarians from different countries also blamed the development on negligence on the part of some member states.

The Ghanaian Head of Delegation, Hon. Alexander Afenyo Markin, asserted that the current economic downturn experienced across regions is a major deterrence to remittance of levies.

Advertisement

“Without attempting to speculate, I should think that the recent downturn in business is a result of economic crisis leading to low import could be a factor, in the sense that now we are having this Ukraine- Russia war which came just after COVID obviously import have come down, it has reduced drastically, and this levies are imposed on import at our Ports so obviously.

“It could also be the slow pace at which member states transmit or transfer such levy as collected so we need that political will from the Commission, the Heads of States, or those responsible for this, and those coordinating to ensure that these levies as at when they are collected are transmitted to ECOWAS on time.

Advertisement

While MP from Seirra-Leon, Hon. Veronica Sesay said the possible cause of countries non-remittance of levy was negligence.

“This could be out of negligence. We cannot move, we cannot succeed, even ECOWAS Parliament committees cannot come to Lome or go to Abuja without paying of levies, and that is why we are asking the other member states to pay their levies because it is sometimes unfair if others pay their levies on time then you benefit on time, so I don’t want to call it parasitic because we have to work together as a team”, she said.

Advertisement

Hon. Adjaratou Traore from Cote d’Ivoire said, “without the community levy there will be no ECOWAS Parliament, there will be No ECOWAS Commission, every country need to contribute, we have to make sure our government take this issue very seriously to make the operation of the regional body smooth, so all Member States have to work hard on it”.

Similarly, Nigerian Delegate to the session, Sen. Smart Adeyemi said, “There is a global economic recession now, I think as the economy improves maybe next year, some of these West African Countries will be able to meet up their obligation to the ECOWAS Parliament”.

Advertisement

Hon. Siryon from Liberia added “the pandemic came in and interrupted countries economic plans, I feel that is the reason why some of them have not been able to pay, no matter what, they have to pay, if they have problems, they have to come to us, they have to come and let ECOWAS know the problem, they put the Act together, they sign it and I believe that they will pay” she said.

The Parliamentarians furthermore called for mechanism to be put in place to fast track payment by making sure that such funds come to the Commissions by the use of technology.

Advertisement

They also believe that, bureaucracy of collection and transmitting should be eliminated by creating a network which will automatically ensure that ECOWAS and other institutions receive their payment directly from the Member States once charges are made in their Ports. That according to them will be one way of resolving that issue of non-remittance of community levy.

“There will be no excuses as to what the Member States have collected and refused or delayed. It is these levies that are used for capacity building, for all activities, for stability and for work to progress, and also for salaries of workers, our community institutions depend on this levy, that is our only source of income and funding for our activities as a Sub-Region, for me, it is a key thing that must be considered”.

Advertisement

Advertisement
Continue Reading
Advertisement
Advertisement

Most Read Stories

Copyright © 2022 NaijaBlitznews