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Why Tinubu Signed Executive Orders On Gas, Energy – Aide

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The Special Adviser to the President on Energy, Mrs. Olu Verheijen, has given reasons why President Bola Ahmed Tinubu signed Executive Orders to transform the gas and energy sectors of the economy, submitting that gas remains the best option for Nigeria’s attainment of energy stability.

The presidential aide, who addressed the media in Abuja on Friday, pointed out that the steps taken by the president was to make gas readily available to Nigerians at affordable rates for all purposes and reduce dependence on petrol and diesel.

Mrs. Verheijen said: “Our ambitions to accelerate our economic growth and diversify the economy for the benefit of all Nigerians require timely, credible, clear and consistent policy. We are faced with a revenue crisis which is impacting all Nigerians.

To urgently address this, President Bola Tinubu is actively seeking ways to grow revenue and forex to stabilize our economy and currency. The oil and gas sector is critical to our ability to do so. However, our current oil and gas production and investment levels falls significantly short of our potential.

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“Since 2016, Nigeria has only accounted for only four percent four percent of Africa’s total oil and gas investments, despite possessing 38 percent of the continent’s hydrocarbon reserves. A society is not rich because of its resources but because of what it does with those resources.

President Bola Ahmed Tinubu is determined to reverse this trend and take decisive steps to ensure to a conducive business climate and reposition Nigeria as a preferred investment destination for oil and gas sector,” she explained.

The energy adviser said that it was in a bid to reverse the negative tendencies in the sector that the president issued a directive to streamline and clarify the scope of two regulators in the petroleum sectors and to provide certainty and create a conducive business environment for the players.

She pointed out that consequent upon the directive, the TNP pipeline, which had been repeatedly vandalized, is now enjoying improved uptime and doubled its availability, resulting in increased liquids of over 200,000 barrels/day being transported over the last six months and increasing the availability of NLNG Trains 1-6 from 57 percent in 2023 to 70 percent in Q1 2024.

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The adviser said the president had also introduced fiscal incentives to deepen Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) penetration all aimed at easing the impact of fuel subsidies on transportation cost, enabling the displacement of PMS/Diesel and contributing to stabilising the price of cooking gas in the market and support the transition to clean cooking.

The presidential aide explained that the Fiscal Incentives for Non-Associated Gas (NAG), Midstream and Deepwater Oil and Gas Developments is aimed at facilitating the monetization of Nigeria’s extensive oil and gas resources.

She said: “For Gas, 76 percent of our gas reserves, remain undeveloped. This explains why, despite possessing one of the largest gas reserves globally, we lack sufficient gas to meet our domestic needs for industry, for power and for cooking. The fiscal incentives introduced will attract the much-needed investments to enhance energy security, catalyze economic activity, attract essential foreign exchange, and promote job creation.

“The President has issued directives to reduce contracting timelines and project delivery. Benchmarking and analysis revealed that the contracting cycle takes up to 36 months. This Directive should have the effect of compressing this cycle to less than 6 months in line with global averages. This will expedite the delivery of oil and gas products to the market and enhance overall value for the country.

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“Local Content Practice Reform: This Directive seeks to ensure that local content requirements are implemented in a manner that does not impede investments or the cost competitiveness of oil and gas projects. This Directive aims to reduce the cost premium of operating in Nigeria, presently averaging at 40 percent. We anticipate significant benefits from this reform, including the development of local companies’ capacity, thereby generating additional business opportunities, job creation and boosting economic growth.

On how the new policies would be implemented for effective results, the presidential aide, explained that the assignments had been shared among different levels of government agencies to be followed up by her office.

Under the arrangement, she said, the Minister of Finance/Co-coordinating Minister of the Economy will develop and propose amendments to introduce fiscal incentives for deep-water developments into legislation while the Federal Inland Revenue Service (FIRS) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) will issue guidelines on the implementation of the fiscal incentives.

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LP Crisis: Nobody Unseated You, The Constitution Did, Sheathe Your Sword — Obi Tells Abure

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Peter Obi, the presidential candidate of the Labour Party in the 2023 elections has asked the party’s former Chairman, Julius Abure, to sheath his sword.

He urged him and others to join hands with the National Caretaker Committee to rebuild the party.

Obi, who was represented by Datti Baba-Ahmed, stated this at the inaugural meeting of the caretaker committee of the party held in Abuja on Tuesday night.

He stated categorically that nobody but the constitution of the party unseated former chairman Abure after the expiration of his tenure.

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Obi said: “Listen, my friend, no governor unseated Abure, the constitution unseated him. Abure’s time elapsed. Nobody unseated him. As of today, Abure is our good friend and a loyal member. We want him back in the fold; we have roles for him to play.

“We didn’t have crisis. We managed a transition that was a bit bumpy and that was it. I tell you, no other political party of our size could do that in the time and manner that we did.

“We are a political party who went all the way to the Supreme Court claiming our 10 million votes. They were only able to give us six million votes. So we are a force to contend with in Africa. What we’ve done has never been done before. When PDP came, they had the military. We had nothing.”

Obi noted that the opposition party was ready to repeat and surpass the feat recorded during the 2023 elections in 2027 by producing a majority in the National Assembly and winning the presidential seat in 2027.

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Earlier, the chairman of the Labour Party National Caretaker Committee, Senator Nenadi Usman, assured party members of the committee’s determination to rescue the party from the current challenges and restore and rebuild it as a veritable alternative platform for Nigerians.

She assured of the committee’s readiness to lead the party on the path of reconciliation within the short time of its assignment.

Usman stated: “We are on a rescue mission, not just for the Labour Party, but I tell you for our dear nation, Nigeria. The interest this committee has generated extends beyond party lines.

“The number of telephone calls I have received not just from Labour Party members, but people from other political parties who told me that if we get this thing right, we will walk together. So we have a huge task.

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“Our party, by the grace of Almighty God, will become a platform for all disenfranchised and unhappy Nigerians. People who are not happy with the way things are going, we are going to be the platform for them by the grace of God. Therefore, we must view this as a significant national assignment.”

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Nigerian varsities working in shadows of death – Omole

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The Pro-chancellor and Chairman of the Governing Council, Ladoke Akintola University of Technology (LAUTECH), Ogbomoso, Professor Ayodeji Omole on Thursday said that the Nigerian University is under siege and currently “working in the shadows of death”.

He maintained that the university system has been captured and held hostage by many government policies especially since the advent of the so called ‘civil rule’.

Professor Omole made these assertions while delivering the 561 inaugural lecture of the university of Ibadan, entitled “working in the shadows of death”.

A former ASUU chairman, Professor Omole stated unless something urgent is done to stop government attacks on the Nigeria’s educational system, the system will die faster than anticipated

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“More than ever before, the Nigeria University system is under siege and therefore ‘Working in the shadows of death. If nothing drastic is done to stop the various attacks from government and its agencies, the system will die faster than anticipated. The University system is captured and has been held hostage by many government policies, especially since the advent of the so called ‘civil rule’”.

He took a swipe at various civilian administrations who he said foisted anti-intellectual policies on the education system in the country.

According to the Professor of Forest Engineering, “Treasury Single Account (TSA) and Integrated Personnel and Payroll Information System (IPPIS). IPPIS is a mismatch with university work structure. It is incompatible with the academic calendar, and a clear violation of the University Act.

Therefore, it is illegal. Only in Nigeria is the data-base of scholars surrendered to foreign agencies in the name of cutting cost. The effects of which are threatening the very existence of the University system in Nigeria today, because it is now impossible for Universities to recruit even cleaners.”

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According to the University don, “the proposed imposition of Core Curriculum Minimum Academic Standard (CCMAS) by the National Universities Commission (NUC) is another policy that will kill Nigerian Universities, faster than expected”.

While expressing sadness that the university of ibadan senate also caved in from its stance on the CCMAS introduction, Professor Omole lamented that the rigid standardization will definitely limit universities’ ability to innovate and design programmes to meet societal needs; because local content and flavour are ignored.

As a former ASUU Chairman at the University of Ibadan, Omole who appreciated the efforts of the Academic Staff Union of Universities (ASUU) and its quest for enhancing qualitative public education for children of the masses in Nigeria noted that “every financial gain the university system has been able to make is as a result of the struggles of ASUU”

He challenged Nigerian academic to “criticize policies that are inimical to national development” saying that “scholars worthy of the description should be vocal in their resistance to foreign exploitation, through the imposition of neo-liberal policies”.

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To ensure sustainable development, Professor Omole harped on the need “for government and other stakeholders to ensure fair and adequate compensation for all workers, fostering a motivated workforce that is fully engaged in the pursuit of national progress”.

“Slave wages severely undermine the commitment of workers to national development and have broad, damaging effects on a country’s economic, social, and political fabric. Under-funding in Nigerian universities has led to a range of problems that affect the quality of education, research, and overall institutional performance.

This has manifested in the form of deterioration of infrastructure, poor facilities, brain drain/loss of talent, labour/student unrest, erosion of university autonomy, low morale among staff, decline in global ranking and reputation. These affect productivity, commitment, and willingness to engage in advanced research or innovative teaching methods.

In summary, the under-funding of Nigerian universities is a significant barrier to the advancement of education, research, and national development. Addressing these issues requires increased investment in higher education, better financial management, and strategic policies that prioritize the long-term sustainability and improvement of the university system.

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Poor remuneration in Nigerian universities has far-reaching consequences for the future of the university system, affecting its ability to deliver quality education, retain talent, and contribute to national development.”

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I Can’t Feed My Family Again; I Make N20,000 Daily But Spend N17,000 On Fuel — Taxi Driver Laments

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Despite earning N20,000 daily, Ajibaye says he takes home only N3,000 after fuel expenses, leaving him unable to cater to his children and wife.

A commercial driver identified as Wahab Ajibaye based in Ilorin, Kwara State has expressed frustration over the rising fuel prices, saying it has left him struggling to provide for his family.

Despite earning N20,000 daily, Ajibaye says he takes home only N3,000 after fuel expenses, leaving him unable to cater to his children and wife.

He said: “I am buying fuel for N1100 and I make N20,000 (daily) but I take only N3,000 with me to my house (after work). I am the owner of my car but I am no longer making enough to cater to my children and my wife. The All Progressives Congress (APC) government will not end well. Nigeria is becoming worse and we pray God takes away this set of current leaders.”

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Ajibaye blamed the ruling APC government for the hardship faced by Nigerians, saying, “Their government is bringing more suffering. They’re not ashamed, despite many Nigerians cursing them. They should rethink.”

The ruling All Progressives Congress (APC) had recently agreed that the policies initiated by President Bola Tinubu resulted in growing economic hardships in Nigeria.

The party in a statement issued by the party’s National Publicity Secretary, Barrister Felix Morka had said this, while responding to a former national vice chairman (North West) of the party, Salihu Mohammed Lukman.

Recall that Lukman had berated the party for bad governance, adding that former President Muhammadu Buhari and incumbent President Bola Ahmed Tinubu have failed to deliver on their campaign promises.

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Lukman, therefore, urged opposition leaders to unite and work hard to defeat the APC-led government in 2027.

But reacting, Morka in a statement on Tuesday argued that President Tinubu was taking bold measures to reset the country’s “long broken economy”, explaining that his reforms had increased economic hardship in the country.

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