News

Peter Obi lambasts FG on fuel scarcity

Published

3 months ago

September 3, 2024

Austin Ojomah

*Demands transparency from NNPCL

…Says incompetence is the bane of the fuel crisis

By Francesca Hangeior.

In the face of the current fuel scarcity faced by Nigerians across the country, the Presidential Candidate of the Labour Party in the 2023 general elections, Peter Obi has challenged the federal government to come clean and tell Nigerians all that is going on in the NNPCL owned by the people.

Obi said that the continuous running of critical government agencies in secrecy is unacceptable.

Writing on his X handle on Tuesday the former Anambra State Governor said “Nigerians must stop at nothing to continue their demand for transparency in the operations of government especially critical agencies like the state-owned NNPCL whose activities appear to be shrouded in secrecy.

“The conflicting reports on subsidies have left Nigerians in the dark, unsure of what is happening in such prime tax payer’s company.

“It’s utterly curious that the Nigerian National Petroleum Company Limited (NNPCL) which declared a N3 trillion profit in 2023, is coming up with a bizarre claim of “financial constraints” in supplying fuel.

“This is an insult to the intelligence of the Nigerian people and a slap in the face of our suffering citizens.

“The fuel scarcity crisis, characterized by endless queues and untold hardship, is a direct result of the government’s ineptitude. The $20 billion Dangote Refinery’s struggles to secure crude oil supply and NNPCL’s search for outside operators for the refineries are further proof of this administration’s gross incompetence.

“We demand immediate transparency into NNPCL’s operations, financial dealings, and plans for the future. The Petroleum Industry Act mandates an open and transparent NNPCL, and we should not stand idly by while this government violates our laws and mocks our democracy.

“We demand that this administration come clean on these issues and take responsibility for the mess it has created. We should not rest until we uncover the truth and hold those responsible accountable. The Nigerian people deserve better.

Related Topics:FG fuel scarcity Peter Obi

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Lagos Youths Condemn Attacks on Seyi Tinubu By Faceless Groups

Published

10 hours ago

November 21, 2024

Gloria Ikibah

By Gloria Ikibah

A group under the auspices of Coalition of Lagos Indigenous Youth (CLYI), has disassociated itself from recent media publications aimed at discrediting Mr. Seyi Tinubu, the son of President Bola Tinubu.

Coordinator of the group, Hon. Tunde Azeez in a strongly-worded statement issued on Tuesday, described the allegations as baseless and perpetrated by faceless individuals seeking to tarnish Mr. Tinubu’s reputation.

The coalition clarified that the controversial post circulating on social media, purportedly made by its members, is fraudulent.

“We wish to categorically state that the earlier post did not originate from the members or executives of the Coalition of Lagos Indigenous Youth,” Azeez asserted.

Describing Mr. Tinubu as a “proud and industrious son of Lagos,” the coalition pledged unwavering support for him, and noted his significant contributions to youth empowerment and development in Lagos.

The group further expressed its readiness to support Mr. Tinubu should he decide to declare interest in the governorship of Lagos State, although they clarified that he has not engaged in political discussions with any group or individual regarding such aspirations.

“Seyi Tinubu is one of us, Lagos is home and will remain home for him, not just as an indigene but also as a critical player dedicated to helping young people.” ,” the statement emphasized.

The group further directed a stern warning to the faceless individuals behind the defamatory campaign, particularly one Ibrahim Whyte, whom they accused of impersonating the coalition.

“We strongly caution Ibrahim Whyte and his cohorts to desist from blackmailing Mr. Seyi Tinubu while falsely impersonating our group,” it added.

The coalition vowed to explore legal options to protect its integrity and that of Mr. Tinubu, should the defamation persist.

CYLI, concluded by urging Lagosians to disregard the misleading narratives and focus on fostering unity and development in the state.

News

House Approves President Tinubu’s N1.767trn Loan Request

Published

10 hours ago

November 21, 2024

Gloria Ikibah

By Gloria Ikibah

The House of Representatives has granted approval for the implementation of the new external borrowing of N1,767, 610, 321, 779.00 (USD 2.209B).

The approval was sequel to the adoption of the recommendations of the House Committee on Aids, Loans and Debt Management Chaired by Rep. Abubakar Nalaraba, and presented at the Committee of the Whole on Thursday.

Presenting the report, the Committee Chairman, Rep. Nalaraba said the committee met and made the following recommendations, which he entreated the House to approve.

He said: “Approve the implementation of the New External Borrowing of one trillion, seven hundred and sixty seven billion, six hundred and ten million, three hundred twenty-one thousand, seven hundred and seventy-nine Naira (₦1,767, 610,321,779.00) (equivalent of USD2, 209, 512, 902. 22b) at the Budget

Exchange rate of USD1.00/800 in the 2024 Appropriation Act and that the amount should be raised from one or more sources. Namely; issuance of Eurobonds in the ICM, Issuance of debut sovereign Sukuk in the ICM, Bridge/syndicated loans, subject to market conditions;

“That based on availability and cost, to issue Eurobonds in the sum of USD1.70 billion or more, but not more than USD2,209,512,902,.22b, approved as New External Borrowing in the 2024 Act;

“Given the significant increase in the official exchange rate from USD1.00/₦800 to approximately ₦1,640, it is recommended that the exchange rate excess resulting from this adjustment be exclusively utilised for implementation of capital projects in 2024, to ensure that additional funds are

directed to impactful infrastructure & developmental projects that will contribute to the Nation’s long term growth and stability;

“Approve the Promissory Note Programme and Bond Issuance to settle outstanding claims and liabilities of the federal government. This approval prioritizes the issuance of Promissory Notes to address outstanding reimbursement debts owed to States, high-priority judgment debts, and other liabilities incurred by Federal Ministries, Departments, and Agencies. This measure is critical to preventing additional interest costs, mitigating further increases in the Federal Government’s debt profile, and reducing the debt-to-GDP ratio;

“That the Hon. Minister of Finance and Coordinating Minister of the Economy, working with the Debt Management Office are authorised to take all necessary actions required to give effect to this.”

The lawmakers unanimously adopted and passed the recommendations.

News

Reps Direct IGP, DG DSS To Deploy Personnel To Etsako LGA Over Worsening Insecurity

Published

11 hours ago

November 21, 2024

Gloria Ikibah

By Gloria Ikibah

The House of Representatives has directed the Inspector General of Police, Kayode Egbetokun, Chief of Defence Staff, General Christopher Musa and Director General, Department of State Services, Oluwatosin Ajayi to urgently deploy personnel to tackle the worsening insecurity in Itsukwi, Imiakebu, Imiegba and Okpekpe communities in Etsako East Local Government Area of Edo State.

The resolution was sequel to the adoption of a motion of urgent public importance on the “Urgent need to deploy security agents to Itsukwi, Imiegba, Okpekpe and Imiakebu communities to halt herdsmen’s onslaught against innocent citizens,” by Rep. Billy Osawaru, member representing Orhionmwon/Uhunmwode Federal Constituency, Edo State on Thursday at plenary.

Rep. Osawaru, drew the attention of the House to the provision of Section 14 (b) of the 1999 Constitution (As amended) on the need for government to provide security and welfare for the people.

He stated that Section 17 (b) of the Constitution provides that the sanctity of the human person shall be recognised and human dignity shall be maintained and enhanced; governmental actions shall be humane.

According to him, Chapter 4 of the nation’s Constitution in Section 33 (1) provides that “Every person has a right to life, and no one shall be deprived intentionally of his life, save in execution of the sentence of a court in respect of a criminal offence of which he has been found guilty in Nigeria.”

He said: “The House is aware that on Monday, October 28, 2024, herdsmen invaded Ugbereke, a popular farmland known for its fertility and destroyed completely the yam plantation of a youth leader in Itsukwi community (Ward 9, Etsako East Local Government Area, Edo State), Mr Samuel Igbeneghu.

“The House is also worried that on Tuesday, November 5, 2024, three farmers by the names Umuagene Obey, Emuesugheli Obi and Ogbitabu Imoudumhe (all from Okpekpe community in Ward 10, Etsako East Local Government Area of Edo State were ambushed on the way to their farms and brutally murdered by suspected herdsmen.

“Same day, the killers made their way to Ugbereke, and killed one Undyar Aondongu (male) while five women were beaten and left to flee with various degrees of injuries.”

The lawmaker stated that as a result of these violent campaigns, farmers in these communities no longer visit their farms for fear of being attacked or killed.

He therefore warned that if the Federal Government fails to take urgent steps to address the crisis, acute hunger owing to food scarcity would be the natural consequence, not just for the people of the area but the entire Etsako East Local Government Area and by extension, Edo State as a whole.

Then the presided officer, Speaker Tajudeen Abbas put itcto a vote, the House unanimously adopted the motion, observed a minute silence in honour of the dead and directed the immediate deployment of security agents to the four communities.

The House also mandated the Inspector General of Police and other relevant security agencies to investigate this tragic incident and fish out the perpetrators for prosecution, while also tasking them to Immediately step up the security surveillance to contain the escalation of insecurity within Itsukwi, Imiakebu, Imiegba and Okpekpe communities and beyond.

The legislative body also urged the Inspector General of Police, Chief of Defence Staff, DG, DSS, General Officer Commanding 2 Division of the Nigerian Army and the Commander, 4th Mechanised Brigade in Edpo State to deploy their personnel to Itsukwi, Imiakebu, Imeigba and Okpekpe communities to safeguard the lives and properties of the people.

The motion was subsequently referred to the House Committee on Army, Police, National Intelligence and Legislative Compliance with a timeframe of four weeks to report back for further action.