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Govt Will Not Seat Back And Watch Ports Collapse – Minister Tell Reps

Published

6 months ago

March 15, 2024

By Gloria Ikibah

The Minister of Marine and Blue Economy, Gboyega Oyetola has said the government will not seat back and watch the ports to completely collapse.

The Minister stated this in view of the political will shown by President Bola Tinubu led administration to develop the nation’s maritime sector.

He also said that government required about 1.1 billion dollars reinvestment in the nation’s port before renewing the concession agreement of the ports.

Oyetola who stated this at an interactive session with the House of Representatives Committee on Privatisation, disclosed that at the moment, the concessioning of the ports was being delayed to allow the government conclude it’s reinvestment plan nd reconstruct the ports to meet to required standard.

Represented by the Permanent Secretary in the Ministry, Oloruntola Micheal, the Minister said the present agreement between the government and concessionaires was unacceptable as it falls below the required standard

He said: “Under the mordenisation programme of the Port, the Ministry is envisioning a major reinvestment in the port system for it to meet the expected service delivery that is commensurate with the image of Nigeria and the level of international business that Nigeria is with.

“The current situation at the port does not meet the required standard. The investment quatum that is expected to be invested in the port will require a major rethink of the concessioning of the ports.

“As a result of that, the Ministry, in concert with the agency, the NPA in particular has begun a process of reinvestment package for the port. It means that the Ministry must factor into whatever relevant concessions that have to be made into that larger vision or else, we my progress further in error and put that reinvestment plan at risk.

“It must be put on record that what you have as a proposal which has been stalled is yet to be given approval by government and has been considered by the ministry to fall below the expected threshold both in terms of revenue and in terms of investment. The ministry is expectant that it will be able to conclude investment plan and bring on board necessary modalities for the consideration of these concessions”.

Responding to questions, he said “the extension alluded to expired before May 29, 2023 and that was before the coming of this government. The Ministry of Marine and Blue Economy which was created by this government has taken steps to review what it met on ground and what we have is not acceptable.

“Anybody who wishes our ports systems better will ask for something different. A major reinvestment is necessary and the Ministry does not want to truncate the plan for that major reinvestment on the alter of commitment to this agreement.

“There is nothing in that agreement that says Nigeria must renew. It is not at my level that the decision will be taken. The decision and process of review will be taken, but the larger interest of government, the people of Nigeria, the port system is over riding.

“We are making earnest steps to finish the arrangements to secure funding for this reinvestment. The terms of those funding will be factored into whatever agreement that we must sign because the lenders will lend to us on terms we must agree to and so, we must do one before the other.

“The operators at the port are still running and paying revenue to government on the basis of the agreement that expired. So, the government is not losing any revenue and the operators have not been displaced. If the interest to do what is right is uppermost, then no status quo should be ruffled.

“The stand of the Ministry is that we must finish the arrangement of major reinvestment in the interest of the port and the better interest of the country. As soon as it possible, that is what we have to do. What we may do is to grant short term extension to cover for the time that is required.

“Our focus is on the larger goal which is the reinvestment. Under the previous agreement, NPA has the responsibility to fix the infrastructure at the port. If you want to do port reinvestment, these are long term investment and cannot be based on short term because of the quantum of resources that are required.

“We are on the same page with our agency. Our larger goal remain sacrosanctand is in the better interest ot even those who may operate the ports. What we prefer are investors and concessionaires who meet the required standard. What is on the table is to consider short term renewal while we make plans to conclude the reinvestment arrangements.

“We are not going to seat back and allow the untold to happen. Mr President has deposited the biggest political will in this sector by creating a dedicated ministry for this sector. We must show results and that is what the ministry and it’s agencies have resolved to do.

“We are not resisting renewing this agreement. We are only saying allow the ministry put in place a reinvestment plan for the port in the better interest of Nigeria, the port system and Nigeria at large.

“The Ministry is saying it should be allowed to do what is right and just. The port require a major reinvestment beyond what we have witnessed in the last decade or more. That is more important than what is being taunted”, the Permanent Secretary added

Managing Director of the Nigeria Ports Authority (NPA), Mohammed Bello Koko said the proposal for renewal of the concession agreement for the ports was submitted to the Federal Executive Council in February 2023.

He explained that the FEC put the renewal on hold demanding additional information, adding that one of the issues raised by FEC was investment as it relates to existing infrastructure at the ports.

He said: “In view of the fact that there was more work to be done, we gave a six months short extension for the terminal operators to continue to operate and so, government was not losing any revenue and they were still paying what they were paying before to the NPA.

“At that time, a physical survey was conducted on the infrastructure at the port and we realised that all the ports, especially the Apapa and TinCan where these five terminal operators are working were about to collapse.

“We observed then, the iminent collpase of the port locations. We realised that there was need for complete rehabilitation of the ports. The plan is to move into the channel by three meters and that completely changed everything.

“Currently, the estimate is about 1.1 billion dollars and discussions have started and about to be concluded so that we get funding from. Those that have shown interest. The loan will be for 15 years with two to three years maritorium during construction.

“That is why we felt that there is need to evaluate what was discussed about six years ago. At the end, then parameters will change and the conditions will no longer be the same. The ports are working, but not fully because part of it has collapsed, but to ensure continuous operation, we felt there is need for reconstruction and within the next few months, the agreement will be signed and construction will begin.

“Right now the port is collapsing. That is why we are saying it has to be reconstructed. In ENL which is one of the terminals, belt 7 has completely collapsed and not in use. If you go to TinCan, belt 4,8,9 and 10 have partially collapsedcollapsed and these are the places we went to renew. That is why we are saying there is need to critically look at what need to be done.”

But the Acting Director General of the Bureau for Public Enterprise, Ignatius Ayewoh believe that the government reinvestment plan should stop the renewal process of the concessioning exercise.

He said: “I want to say that BPE was involved completely in this concessions arrangement abd till date, monitoring has been taking place and some of the status report as per performance will be provided for record purpose.

“An interagency committee was set up to see to the concessions and some of the renewals made. Some are still ongoing, some have expired. The concession agreement hs provision for renewal as well as retenderetender. In terms of performance, we can say that the state of the port is no longer as derogatory as it used to be.

“If you go to the ports, you will see that a lot of mordenisation has taken place and computer is at ion has taken place in most of the terminals. This concession is an advantage to Nigeria in terms of where we were before and it’s is a better place than we met it.

“We are not against reinvestment and Improvement. I heard the Ministry say finds will be required and that is why we are doing the concessioning. If it is concessioned, the private aspect must invest finds and we must give a post acquisition plan which is what we must expend.

“We recognised that some. Of the assets there must have depreciated. But with a renewal, you will be able to give what you want to do. We cannot leave it and begin to do short term and at the end, nothing is done”.

Chairman of the House Committee on Privatisation and Commercialisation, Rep Ibrahim Hamisu Chidari, said the Ministry must put measures in place to ensure that government does not lose any revenue as a result of the delay in renewing the condeasion agreement.

The Chairman stated: “After the expiration of the agreement in 2021, the terminal operators were given a six months extension twice and after that, there has been no extension. We don’t want them to continue to operate illegally because there must be no vacuum”.

The Minister however said bthat a six months extension will be given to the terminal operators to operate legally, and that all plans by the government should be concluded within the six months period.

News

SEE 20 billionaires supporting Trump and Kamala in the race for The White House

Published

3 hours ago

September 19, 2024

Naijablitznews

By Mario Deepromoter

The race for the United States Presidency has reached a fever pitch. As the US presidential election draws close, the financial backing of billionaires has become a defining factor in the campaigns of leading candidates.

Donald Trump, the Republican party candidate and Kamala Harris, who took the baton from President Biden for the Democratic party, continue to rally the support of some of America’s wealthiest, drawing powerful endorsements from influential figures in the country seeking to shape its future.

Elections are run with money, and political parties and their candidates require a lot of it to run successful campaigns. This process is supported by the high and mighty who donate good money towards the government they wish to see in power. These funds cover a range of expenses, including advertising, staffing, travel, and organising events.

From business partners to friends, acquaintances and wealthy individuals who want to see the tide turn in their favour, here are 20 billionaires supporting Trump and Kamala as the next US President.

Billionaires supporting Donald Trump
1. Elon Musk
Perhaps being Donald Trump’s biggest fan on X, which he now owns, the world’s richest man Elon Musk could also be Trump’s loudest supporter. In July, the founder worth, $250.8 billion announced plans to commit around $45 million a month to a new super political-action committee, called America PAC, backing former President Donald Trump’s presidential run.

2. Linda McMahon
Linda McMahon is the wife of Vince McMahon, the former CEO of WWE. McMahon, who is currently worth $3.1 billion had made up to $16 million in donations to Trump groups to support his election campaign. She chairs the pro-Trump nonprofit America First Policy Institute, serving on the board of Truth Social’s parent company, Trump Media and Technology Group.

3. Diane Hendricks
“I know how hard it is to build a company from nothing,” she said. “And we need a president who understands that too,” Diane Hendricks, called America’s richest self-made woman, said on stage at the Republican National Convention in her home state of Wisconsin last month. Forbes says that the $20.9 billion-worth entrepreneur has already pumped $6 million into groups that support him.

4. Andrew Beal
American banker and businessman, Andrew Beal gave more than $4 million to Trump committees and other GOP groups in 2020. The $12.2 billion- valued investor is now betting on Trump again, putting $1.8 million behind Trump’s 2024 ticket.

5. Kelcy Warren
Kelcy Warren, the billionaire in energy has been fond of Trump. Warren had given $100,000 to help elect him in 2016, then dropped more than $11 million in 2020. This time around, he has given about $6 million to support Trump’s campaign. Warren’s Energy Transfer is best known for the Dakota Access Pipeline, which Trump helped expedite in one of his first acts in office.

6. Elizabeth Uihlein & Richard Uihlein
Liz and Dick Uihlein are among the Republican party’s most generous donors, giving tens of millions per cycle. The couple have donated $5 million to trump groups according to Forbes. In 2021, the duo celebrated Trump’s “America First” trade policies and called out publicly-held companies for being “too concerned about their stock share price.”

7. Phil Ruffin
Ruffin is a significant Donald Trump donor, as well as his business partner and close friend. His donations to Trump’s PACs and committees have reached $3.3 million so far this cycle, surpassing his combined donations from the last two elections.

8. Geoffrey Palmer
Geoffrey Palmer is one of the largest apartment developers in Los Angeles, with nearly 13,000 units in the greater L.A. metro area. Palmer is a major financial backer of former president Donald Trump, donating some $16 million to his campaigns and PACs from 2016 to 2022. This year, he’s up to $3 million. The developer is worth $3.1 billion.

9. J.Joe.Ricketts
Ricketts, whose family owns the Chicago Cubs, poured $3 million into a Republican anti-Trump group back in 2016 with his wife. They have given a combined $2 million to Trump groups so far this time around, betting against Kamala.

10. Jimmy John Liautaud
Since Jimmy John sold the majority of his business to a private equity firm, he has gotten more involved in politics, as has his wife Leslie. She backed Trump in 2016 and 2020 and John joined her this year, giving $2.8 million to Trump groups so far.

Billionaires supporting Kamala Harris
1. Mark Cuban
The billionaire Shark Tank star and former principal owner of the Dallas Mavericks is one of the Democrats’ most valuable supporters. Valued at US$5.4 billion according to Forbes, Cuban, who is known to have attended a Joe Biden fundraiser, has retweeted various posts about Harris’ campaign, and signed the “VCs for Kamala” pledge.

2. Reid Hoffman
LinkedIn co-founder, Reid Hoffman has been a long-time Democratic donor and wasted no time backing Harris after Biden dropped. In January, he poured $2 million into a super political action committee (PAC) for Biden’s campaign. The former CEO, worth $2.5 billion plans to open a fundraiser for Harris and has been reported to push Netflix chairman Reed Hastings to donate US$7 million to a PAC supporting the current Vice President.

3. Vinod Khosla
Vinod Khosla, founder of Khosla Ventures, and OpenAI investor has backed Harris to win the elections in November following the withdrawal of President Biden, who he hosted a fundraiser for in May. Worth $7.2 billion per Forbes, the entrepreneur has donated to Super PACs in support of Harris.

4. Chris Sacca
Chris Sacca made early bets investing in Twitter and Uber through his venture capital firm Lowercase Capital. Now he’s making bets of Kamala Harris to be the next US president after donating to Biden’s campaign before he dropped out. Sacca noted that he and his partner Clay Dumas have “invested millions of dollars and countless hours helping build organisations and companies that we think have the best shot at giving blue candidates an edge in a game that is rigged against them.”

5. Eric Schmidt
Worth $22.5 billion per Forbes, the former CEO of Alphabet has given $1.6 million to Future Forward PAC, a Democratic super PAC, and $1.16 million to the Biden Victory Fund.

6. Dustin Moskovitz
Moskovitz, who helped to launch Facebook (now Meta Platforms) in 2004, gave up to $929,600 to the Biden Victory Fund before he dropped out of the race. Now, he has directed his attention to Kamala who goes against the same opponent, Trump.

News

IG Orders Redeployment Of FCT, Rivers, Delta CPs

Published

3 hours ago

September 19, 2024

Naijablitznews

By Mario Deepromoter

The Inspector General of Police, Kayode Egbetokun, has directed the redeployment of the Rivers State Commissioner of Police, Tunji Disu, to FCT command.

The shake-up also affects the Delta State Police Command, with CP Abaniwonda Olufemi being reassigned to the Rivers State Command.

In his place, CP Peter Opara who was recently posted to the FCT command, has been appointed as the new Commissioner of Police for Delta State.

The Force spokesman, Muyiwa Adejobi, in a statement on Thursday, said the redeployment was to ensure effective policing in the affected states.

He said, “The Inspector-General of Police in an effort to strategically emplace a Police Force well efficient for effective policing, has ordered the immediate redeployment of the Commissioners of Police of Rivers State Command, Delta State Command, and the Federal Capital territory.

“The order covers the redeployment of the CP Rivers State Command, CP Olatunji Disu as the new CP FCT; CP Delta State Command, CP Abaniwonda Olufemi as the new CP Rivers State Command and CP FCT, CP Peter Opara as the new CP Delta State.”

Adejobi also said the IG, in accordance with the approval of the Police Service Commission, has deployed four CPs to Lagos, Abia, Ebonyi, and Akwa-Ibom States.

He said, “In addition, following the approval of the Police Service Commission, the Inspector-General of Police has also deployed four CPs as Commissioners of Police for Abia, Lagos, Ebonyi, and Akwa-Ibom State Commands.

“The deployment includes the posting of CP Danladi Nda to Abia State Command, CP Olanrewaju Ishola Olawale to Lagos State Command, CP Anthonia Adaku Uche-Anya, FDC to Ebonyi State Command and CP Festus Eribo to Akwa-Ibom State Command.

“The posting of these strategic managers reflects the mission of the Inspector-General of Police to strategically reposition the Police Force and ensure maximum utilization of human resources available to the Force. “

He stated that the IG urged the CPs to be innovative and ensure personnel are diligent in their duties.

Adejobi said, “The IGP has, however, urged the new CPs of State Commands to ensure diligence in the discharge of their lawful duties and adopt innovations that could mitigate security challenges in their respective areas of responsibility. He further encouraged them to key into the police reform plans, which will help the progress of the Nigeria Police Force and the growth of the country in general.”

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Credible Intel Indicates Tinubu’s Defence Minister Matawalle Involved in Banditry – Zamfara Gov Alleges

Published

4 hours ago

September 19, 2024

Kayode Sanni-Arewa

By Kayode Sanni-Arewa

Zamfara State Governor, Dauda Lawal, has made a startling disclosure, alleging Nigeria’s Defence Minister, Bello Matawalle, of involvement in banditry in the North-West region.

Speaking during an interview on TVC’s Politics Tonight on Wednesday night, Lawal cited credible information suggesting that his predecessor, Matawalle, played a significant role in the ongoing security crisis.

From all the information we’re getting, my predecessor was fully involved in some of this banditry issue,” Lawal stated. His comments come as northern Nigeria continues to grapple with relentless bandit attacks, particularly in Zamfara, Kaduna, and Katsina states. This is not the first time such allegations have been raised against Matawalle. In July, notorious bandit leader Kachallah Bello Turji had made similar accusations, claiming that the former Zamfara governor had been supporting terrorism in the region. Turji, in a video statement, maintained that Matawalle was involved in the rising wave of violence, an allegation that stirred significant controversy. However, Matawalle has consistently denied these claims. His media consultant, Deyemi Saka, labelled the accusations as unfounded and baseless, dismissing them as attempts to tarnish the minister’s reputation. Despite this, Turji and now Governor Lawal remain firm in their assertions, keeping the spotlight on Matawalle’s alleged connection to the banditry crisis.

The accusation against a high-ranking government official comes at a time when northern Nigeria is plagued by severe security challenges, with banditry, kidnapping, and terrorism escalating in various states. The federal government’s response to these claims and the overall situation remains to be seen.