Prominent Northern politician, Usman Bugaje, has turned down President Muhammadu Buhari offer of ambassadorial position on the ground that he preferred to remain in Nigeria to nurture a project he is developing for the development of the North.
Bugaje said on his Facebook Wall: “Regarding the published nomination for an ambassadorial posting, I have not spoken to the press and may not do so anytime soon. “I thank those who think me fit for the job, but I have so much in my hands already, especially the Arewa Research and Development Project, which is the only broad platform in the north driving development. “I have weighed the options and have decided to remain home and continue the struggle for development and good governance.”
Bugaje’s position is coming on the heels of two others who have similarly turned down Buhari’s appointment. They are the former Minister and former Deputy Governor of Plateau State, Pauline Tallen; a Professor at the Massachusetts Institute of Technology in the United States of America, Akintunde Akinwande. [myad]
The Nigerian National Petroleum Corporation (NNPC) has made it clear that there is no plan to increase the price of Premium Motor Spirit, popularly known as petrol above the current price of N145
The Group General Manager, Group Public Affairs Division, Garba Deen Muhammad, made the statement in Abuja on Wednesday at a news briefing. Garba Deen said that the report in the media about the planned increase in the price of petrol was simply not true, adding: “regardless of what was said, the bottom line is that there is absolutely no plan whatsoever that government will increase pump price of petrol. “If there is going to be anything like that, the agency for fixing pump price of petrol will definitely sensitise Nigerians and give reasons why. “For this moment, there is absolutely no plan and no need to do that because we have more than enough supply, very robust stock and long term procurement contract with our suppliers. “We have enough supply to last us throughout the ember months and beyond. “So, the reported statement was made within the context of technical explanation not within the context of downstream operations.” On the issue of marketers’ complaint that the window given to them for foreign exchange was not enough, Muhammad said their complaints had been addressed adequately. He said: “A new window has been opened for them and in fact what is happening now is that we are waiting for them to deliver. “A new window to make forex available for their needs has been opened and they are satisfied with it and we are waiting for them to deliver. “What we have now is a glut. We have people who have already imported and they are looking for people to buy their products. “We have a glut in the market, you can testify if you go around, there is not even a hint of scarcity so what generated or necessitated the report.” Muhammad said the current availability of PMS was as a result of price modulation and petroleum products were available because prices were being determined by market forces. He said: “Right now if you go to filling stations you find that people sell at N145 and some even at N143. “It is not really magic but diligent pursuit of common sense and that is what has been responsible for the stability we have achieved and we intend to maintain the momentum.’’ On the allegation that the NNPC was still subsidising fuel, he said: “No, there is no subsidy.” Responding to the question that some filling stations were already recording long queues, Muhammad said: “That must have been associated with the reports that you people carried. “It was interpreted outside the context it was meant but as you have seen, and from the reality on ground, there is absolutely no plan to increase fuel price, there is no shortage and there is no possibility of shortage in the nearest future. “I’m telling Nigerians to relax, drive with care, enjoy their vehicles, enjoy their movement and travels because no plan to increase fuel price.” Muhammad further said there had been no report that fuel was sold above N145 outside Abuja and Lagos as was the case before. He said: “The refineries have been back but you know it has been on and off but they are back. Port Harcourt has been producing as well as Kaduna. “You know about the plans to collocate some refineries, bring in new ones and upgrade these ones so by the time all these are done by probably the end of 2018, refineries will run at optimum capacity.”
The Group General Manager, Crude Oil Marketing, NNPC, Mele Kyari, had at an Oil Trading and Logistics Expo in Lagos, said that the current price was not sustainable. Kyari said that NNPC is still subsidizing the product, leaving a heavy burden on the corporation, which is the sole importer of the product. [myad]
President Muhammadu Buhari has said that he is determined to restore the country to the “good old days of accountability” and leave a big footprint on the sand of time when he is long gone.
Speaking at a meeting Tuesday with the Director, Global Upstream of Shell Oil Company at the Presidential Villa, Abuja, President Buhari emphasized that he is determined to leave a legacy of improved infrastructure, particularly in the power sector, and also ensure better security in the Niger Delta.
“It is only by doing this that investor morale and confidence will return, and the economy will be positioned on the path of growth,” the President said.
President Buhari, who commended Shell for their faith in the economy and staying power, gave assurances on some issues of concern raised by the company.
On the protracted issue of cash calls, the President assured that the Federal Executive Council will soon consider a proposal for the easing of unpaid arrears owed by the government.
President Buhari said that the security of oil infrastructure will continue to be prioritized side-by-side with dialogue with the stakeholder-communities in the Niger Delta.
He, however, urged oil companies to take more responsibility in the protection of oil installations to complement the efforts of Nigerian Navy in the region.
In his remarks, the Shell Director, Mr. Andrew Brown, informed the President of the resumption of oil exportation through the Forcados terminal following its restoration.
He called for continued protection by the Nigerian Navy in view of repeated threats of attack by militants.
Brown commended the anti-corruption posture of the Buhari administration as well as the efforts to streamline and stabilize the economy for long term projects, saying all the efforts will go a long way to reinforce Shell investment plans in Nigeria. [myad]
The Independent National Electoral Commission (INEC) has announced that it will, tomorrow, Wednesday, conduct elections in selected areas of the five Area Councils of the Federal Capital Territory (FCT). The elections will be conducted to fill in the gap where elections were cancelled during the April 13 Chairmanship and Councillorship elections.
A statement from INEC listed the Area Councils affected as Abaji, Bwari, Gwagwalada, Kuje and Abuja Municipal Area Council (AMAC). Chairmanship elections will be concluded in four (4) Area Councils of: Abaji, Gwagwalada, Kuje and AMAC while Councillorship elections will be concluded in four Area Councils.
The Commission said that the Saturday 9th April elections in these areas were cancelled due to non-compliance with the Electoral Act 2010 (as amended), and the approved INEC guidelines and regulations. The elections were cancelled for three reasons namely: violence, over voting and non use of the Smart Card Reader (SCR).
According to the statement, a total of 39, 647 registered voters are expected to participate in tomorrow’s elections.
In Abaji Area Council, the Commission will conclude Chairmanship and Councillorship elections in two Polling Units of two (2) Wards, namely: Nuku and Gawu, with a total of 3,513 voters expected to participate.
In Bwari Area Council, Councillorship elections will be concluded in two (2) Wards and three Polling Units with a total of 5,522 registered voters.
The Commission said that it will conclude Chairmanship election in one Ward (IBWA) and two (2) Polling Units in Gwagwalada Area Council with a total of 1,881 registered voters.
In Kuje Area Council, Chairmanship and Councillorship elections will also be concluded in 12 Polling Units of eight (8) Wards, with a total of 13,368 voters. The Wards are: Gwargwada, Kwaku, Kuje Central, Chibiri, Gudunkarya, Rubochi, Yenche and Kabi.
The Commission will conclude Chairmanship and Councillorship elections in six (6) wards and fourteen (14) Polling Units of AMAC. The affected wards are: Karu, Garki, Gwarinpa, Gui, Karshi and Nyanya. A total of 15,363 voters are expected to participate in the elections. [myad]
Youth-friendly telecommunications company, Etisalat Nigeria, has penciled down 12 universities across the six geopolitical zones to be the beneficiaries of the 2016 edition of its annual scholarship scheme, Etisalat Merit Award. In addition to the institutions, hundreds of their students will also receive grants, which have been increased by 100 per cent beginning from the current academic year. The beneficiary institutions are the Niger Delta University, Bayelsa State; Akwa Ibom State University; University of Lagos; Federal University of Technology, Akure; University of Ibadan; Enugu State University of Science and Technology; Ambrose Alli University, Ekpoma, Edo State; Benue State University; Modibbo Adama University of Technology, Yola, Adamawa State; Ahmadu Bello University, Zaria, Kaduna State; Bayero University, Kano; and Usmanu Dan Fodio University, Sokoto. Speaking on the 2016 edition of Merit Award, the Director, Regulatory and Corporate Social Responsibility, Etisalat Nigeria, Ikenna Ikeme, said the scheme is a significant component of the education arm of the Etisalat’s tripodal Corporate Social Responsibility, which also includes health and environment. Ikeme said that the award of grants to schools and students demonstrates Etisalat’s unwavering commitment to the development of Nigeria’s education sector and the promotion of excellence among the youth in the country. “In line with our passion for youth development, Etisalat is delighted to announce a 100 per cent increase in the grants to students from N100, 000 to N200, 000 beginning from the current year. Our objective is to ensure increased access of students to qualitative education as the grants will enable to buy needed books and research materials that will boost their capacity to do well in their studies.” Ikeme said that in order to have a more inclusive scholarship scheme and in aligning with the Sustainable Development Goals, Etisalat has expanded the scholarship scheme by adding another category that accommodates persons with disabilities. “They are part of us and they need our love and care. This new category aims to identify and encourage physically challenged students that are performing well in their academics.” The 2016 regional presentation ceremony of the award will hold in Ibadan, Oyo State in November. Since it was launched eight years ago, the Etisalat Merit Award Scheme has awarded over 1,400 scholarships to outstanding Nigerian undergraduates with the highest CGPA in courses such as Electrical Electronics Engineering, Computer Science and Management Sciences. [myad]
The minister of the Federal Capital Territory (FCT), Malam Muhammad Musa Bello has confessed that most of the major decisions he had taken so far were as a result of encouragement from his friends in the media.
The minister, who received in audience, members of the Forum of FCT Broadcast Editors in his office, stressed that media people have been part of his guiding principles
Muhammad Bello acknowledged that every stakeholder in the project Nigeria has done its bit in one way or the other but that the role of the media since pre-independent Nigeria cannot be over emphasized.
“The Nigerian media has tremendously contributed to the socio-economic and political development of the country just as it has remained the conscious of the nation.
Acknowledging also that he has been enjoying what he called ‘robust’ partnership with the media, he said that some of his policy decisions have been greatly reinvigorated by the feedback he received from journalists covering the FCT Administration.
He described the media as the eyes and ears of the society saying that their profound knowledge of the city is one that generates a lot of vibrancy in both the public and private sphere.
He called for continuous support and collaboration from the media practitioners to strengthen institutions in the FCT, adding: “you have been and will continue to be the eyes and the ears of the residents of the FCT. Your knowledge of the city is obviously much deeper and I have had course to follow the activities of most of your organizations, the feedback and the support you give, the vibrancy that you generate in our beautiful city and community.
“Since I came on board as the Minister, we have tried as much as possible to convey a message to the wider community that Abuja is for all and therefore, Abuja should reflect the standard of a city that we all aspire to say it is ours. That is why in all of the policies we initiate, we try to encourage people to own it, simply because we have realized that a Minister and a team of 50 or hundred senior officials cannot run the city alone. It has to be something that all of us should consciously believe in.”
Earlier, Head of News, Rhythm FM, who is the Convener and Chairman of the FCT Forum of Broadcast Editors, Mr. Tijjani Yunusa, said that the Forum is ready to partner with the FCT Administration.
He said that the Forum has found Malam Muhammad Bello to be a silent achiever and would continue to collaborate with his Administration. [myad]
National Chairman of the Peoples Democratic Party (PDP), Senator Ali Modu Sheriff has washed his hands off the controversies trailing the candidacy of the party in the forthcoiming governorship election in Ondo state.
He made it clear, in a statement today, Tuesday that he would not take sides in any conflict over the choice of candidate by the Independence Nation Electoral Commission (INEC), in any State, including Ondo State where Governorship elections is scheduled to hold on November 26.
Modu Sheriff dispelled what he called ‘widespread speculations’ linking him with controversies surrounding the emergence of Eyitayo Jegede (SAN) and Jimoh Ibrahim as candidates of the PDP for the Ondo elections, to the effect that he was said to ben arms twisting the electoral body.
He said that as a law abiding leader, he is bound by whoever INEC publishes as both candidates in contention are respectable members of the PDP, and that he will treat their issues based on merits and in accordance with the law.
He dismissed insinuations that he is behind several petitions against the INEC, stressing that, he has done his duty by submitting a name to INEC, and that he expects that the Commission will act in accordance with its own mandate.
“I am not unmindful of events leading to the emergence of the two candidates, but wishe to assure Nigerians that steps are being taken to resolve all such issues even beyond what INEC may do, to avoid past experiences occasioned by internal bickering in the PDP.”
The national chairman assured the people of Ondo State that, party Leaders have been working to ensure the PDP wins in the forthcoming elections, immaterial of who flies its flag.
Modu Sheriff said that he did not author nor did he authorize any petition to be written on his behalf, as is being mischievously alleged in some sections of the media and called on the people to stop using his name to settle scores. [myad]
President Muhammadu Buhari has asked the National Assembly to approve plans to borrow $30 billion abroad to fund infrastructure plans until 2018.
According to a letter from the President, which was read out on Tuesday in the assembly, the borrowing plans included the sale of Eurobonds worth $4.5 billion and a planned budget support of $3.5 billion, according to the letter from Buhari.
“The projects cut across all sectors with special emphasis on infrastructure, agriculture, health, education, water supply, growth and employment generation, poverty reduction,” said the letter read out in both chambers by Senate President Bukola araki and House of Representatives Speaker Yakubu Dogara.
“It has become necessary to resort to prudent external borrowing to bridge the financing gap,” Buhari said in the letter. The borrowing was for the period until 2018, he added.
Nigeria, an OPEC member, slipped into recession for the first time in more than 20 years in the second quarter largely due to low global oil prices. Crude oil sales account for about two-thirds of government revenue.
Meanwhile the President had since sent a draft budget for 2017 to parliament for approval, detailing plans to spend a record 6.866 trillion naira ($22.55 billion) aimed at pulling Africa’s biggest economy out of recession.
The planned spending is up from this year’s 6.06 trillion naira budget and seeks to stimulate growth by funding infrastructure development to increase manufacturing, create jobs and reduce costly imports.
The government has held talks for months with the World Bank, China and other institutions to fund a 2016 budget deficit of 2.2 trillion naira but so far only the African Development Bank has publicly confirmed a planned loan of $1 billion.
Nigeria also wants to sell $1 billion in Eurobonds by the end of the year although as of Friday no bank to arrange the issue had been appointed yet.
Problems related to oil prices have been exacerbated by militant attacks on energy facilities that have cut crude production, which was 2.1 million barrels per day (bpd) at the start of 2016, by 700,000 bpd.
Output had improved to 1.9 million bpd, the petroleum ministry said in a tweet late on Monday, without giving details. [myad]
Pan-African conglomerate, the Dangote Group has announced that it is currently driving six major projects which will generate foreign exchange earnings of about $15 billion annually for the nation.
According to the President of the Group, Aliko Dangote, the Company is investing a total of $20 billion on the six key projects. He spoke at an interactive session wih students of Executive MBA and Owner Manager Programme of the Lagos Business School in Lagos on the topic: “The Role of Business in Driving Sustainable Development in Africa-The Story of The Dangote Group.”
He listed the projects as Refinery and Petrochemicals, Sub-Sea Gas pipeline, Fertilizer, local Rice production, local Sugar Production and Cement capacity expansion.
Alhaji Dangote said that the refinery and petrochemical project with capacity to process 650, 000 bpd and which will gulp $11 billion will ensure fuel sufficiency for Nigeria, while the petrochemical plant will produce 1.3M mtpa polypropylene and polyethylene
“The fertilizer project at a cost of $2 billion will contribute to national food security and sufficiency for Nigeria. It will produce 2.8 Million Tons of Urea Per Year.
“The EWOGGS pipeline project on which $3 billion will be sunk and located near Bonny Island to Lekki Free Trade4 zone will unlock significant gas supply for industry and supply gas to generate 12,000 MW of power.
“The rice project, a fully integrated rice production and processing operation with capacity to produce 960,000 MT of milled rice per annum, will meet 16 per cent of Nigeria’s rice needs. It has two rice mills of 240,000 MT / season, two crop seasons in a year”
Dangote said that the rice projects estimated to gulp $1 billion will cover 150,000 Ha across Adamawa, Edo, Jigawa, Kano, Kebbi, Kogi, Kwara, Nasarawa, Niger, Sokoto, Taraba and Zamfara states. 40 per cent of paddy to be provided by Dangote Rice Outgrower Scheme
On the sugar backward integration project, the Dangote Group President said this will ensure self-sufficiency in sugar. “The Sugar projects covers 150,000 Ha across Adamawa, Sokoto, Kebbi, Jigawa, Taraba, Kogi and Kwara States and will produce 1.5 mn MT refined sugar per annum. We are investing $1 billion and the approach is to have two phases over the next 10 years. The project has the Potential to discourage insurgency in the North East through massive job creation”
The company’s cement capacity expansion has been a continuous process and has seen it establishing its presence in some 19 countries of the world with the ambition to the six largest cement producers in the world in 2019 with 77 mmtpa capacity across board.
Dangote said that not until Nigeria becomes a producing nation and reduce import, her economy would continue to grope in the dark noting that his company would continue to take the lead in any sector that requires the nation to look inward.
He said Nigeria has no business with importation of some products the production of which the nation has raw materials to produce. He gave an example of milk lamenting that 80 per cent of milk consumed in Nigeria is imported, a situation he described as unacceptable.
Dangote therefore promised that he would be venturing into diary production to reverse the trend saying Nigeria can produce the amount of milk needed for her citizenry.
It would be recalled that the business mogul had indicated that his new $12 billion three in one project, the refinery, petrochemical and fertilizer plants currently under construction would create a minimum of 235,000 new jobs, both direct and indirect jobs, as it becomes operational in the first quarter of 2019.
Dangote is optimistic that there will be market for the refined products because even in Africa, only three countries have effective functioning refinery with others importing from abroad.
Dangote said gas from the Gas Pipeline Project can supply fuel to Central Power Plants to generate electricity for households and Nigeria will save over $7.5billion for Nigeria annually, through import substitution. [myad]
The Independent National Electoral Commission has fixed Thursday, October 27, for the publication of the list of nominated candidates to represent political parties and the official Register of Voters for the Ondo State governorship election. The election is scheduled for November 26, 2016. INEC said that it is doing this as statutorily provided for. Section 34 of the Electoral Act, 2010 (as amended) provides that INEC should publish the list of nominated candidates by political parties at least 30 days before the day of an election. Similarly, Section 20 of the Electoral Act, 2010 (as amended) provides that the Commission should publish the official register of voters for an election, not less than 30 days before the election. The publication of the names of candidates would be more interesting for the Peoples Democratic Party (PDP) where two lawyers: Jimoh Ibrahim and Eyitayo Jegede, are yet to settle the rift over who will be the party’s candidate. Jegede and Ibrahim emerged from two parallel primaries of the two factions of the party. While the faction loyal to Senator Ali Modu Sheriff threw up Ibrahim, that of Senator Ahmed Makarfi, produced Jegede. Ibrahim had last week obtained a court order declaring him as the PDP candidate. [myad]
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