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Ahead Of U-23 Cup Of Nations In Senegal, Siasia Lists 30 Players

Siasia

Head Coach of the U-23 National Team, Samson Siasia, has invited 30 players to camp in preparation for next month’s Africa U-23 Cup of Nations in Senegal.

Players who were in the bronze medal-winning squad at the 11th All-Africa Games in Congo Brazzaville formed the bulk of the invitees.

Notable among those called by Coach Siasia are goalkeeper Emmanuel Daniel, defender Chima Akas, midfielder Kingsley Sokari and strikers Christian Pyagbara and Oghenekaro Etebo.

Siasia has ordered the invited players to report at the Serob Legacy Hotel, Wuye, Abuja on October 11, while training will commence on October 12, 2015.

All the invited players are expected to arrive in camp with their international passports.

The full list of invited players are as follows:

1.Daniel Emmanuel (Enugu Rangers)

2.Yusuf Mohammed (Kano Pillars)

3.Erhun Obanor (Abia Warriors)

  1. Segun Oduduwa (Nath Boys)

5.Sincere Seth (Rhapsody FC)

6.Ndifreke Effiong (Abia Warriors)

7.Chima Akas (Sharks FC)

8.Usman Mohammed (FC Taraba)

9.Godspower Effiong (Kano Pillars)

10.Daniel Etor (Enyimba FC)

11.Etebo Oghenekaro (Warri Wolves)

12.Tiongoli Tonbara (Bayelsa United)

13.Wanbe Godwin (Enugu Rangers)

14.Austine Oladapo (FC IfeanyiUbah)

15.Semiu Laidi (Warri Wolves)

16.Kingsley Sokari (Enyimba FC)

17.Christian Pyagbara (Sharks FC)

18.Iroha Ebuka (Diamond FC)

19.Qudus Suleiman (36 Lions)

20.Yusuf Lawal (36 Lions)

21.Adebayo Ajadi (36 Lions)

22.Israel Emmanuel (Akwa United)

23.Akinola Johnson (Freestan FC)

24.Tochukwu Nnorom (Enugu Rangers)

25.Chukwudi Esoze (Kwara United)

26.Stanley Dimgba (Warri Wolves)

27.Lucky Jimoh (36 Lions)

28.Philip Johnson Effiong (Abia Comets)

29.Ajabor Sunday(Freestan FC)

30.Charles Chukwudi (Plateau United). [myad]

Diezani Was Invited By British Police, Not Arrested, Says Family Lawyer

Oscar Diezani lawyer

The family of former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has made it clear that the ex-minister never arrested and detained by the British National Crime Agency over allegations of bribery and corruption.

A statement by the family’s lawyer, Oscar Onwudiwe, described as false a publication by an online news media that Diezani’s step son, Ugonna, owns three properties in the United States, stressing that two of the properties were purchased in 1995 and 1997, when Ugonna was eight and 10 years old, respectively, “while the family or a distant relation has no link whatsoever with the third property mentioned by the online publication”.

The lawyer, who claimed to also represent Diezani’s mother’s family (Agama,) also said that neither Ugonna, Somze nor Abiye or anyone related to the two families was picked up or arrested by anybody whatsoever.

He stated that at no time was the former minister’s passport seized, stressing that she was “merely invited, and she honoured it promptly”.

Onwudiwe pointed out that despite all the frenzy over the former petroleum minister, not even one reporter or journalist had tried to contact the family to verify any of the publications.

“This may be because they know the stories are false but it feeds the mood of the moment; hence, the silence from Diezani all along. It is worth emphasising that Mrs Alison-Madueke was never arrested or detained and her passport was never seized. She was merely invited, and she honoured it promptly.”

The two families further stated that in this era of cyber terrorism, decency dictates that one should respond to false and defamatory allegations with silence.

“But there is a limit to how much any reasonable person can bear the tactics of these cyber terrorists. We all know that what makes a lie fly is the little truth contained therein. This happens to be the weapon used by most online news media to feed their weird obsession with defaming highly placed people,” their lawyer added.

Onwudiwe said the Madueke family was appalled by the ongoing media frenzy against the former petroleum minister by a section of the mass media.
According to him, the Madueke family has no issue with any persons from the family being invited anywhere in the world to answer questions about their private or official conduct, adding that the family believes in law and order, honour and due process.

Onwudiwe however alleged a deliberate and vicious campaign to demonise members of the Madueke and Agama families, with all manners of frivolous allegations that have no bearing in truth.

The lawyer stated that the online news media even called the property allegedly owned in the United States by Ugonna as “posh” and went on to state the addresses.

The attorney described the publication as lies, stressing that Ugonna has no property anywhere in the United States and has never owned one.
“The USA is a country which runs on transparency, accountability and technology. A little honest effort by the online news media would have provided in a few minutes the true ownership of the properties at issue,” Onwudiwe said.

According to him, the 11711 Scooter Lane (a three-bedroom town house) in Fairfax, Virginia, was acquired by the Madueke family in 1997 when Ugonna was only 10 years old.

He further clarified that Ugonna’s siblings lived in this property while attending George Mason University in Virginia, USA.

The lawyer stated that records available to the appropriate authorities in the United States can also confirm that 13116 Silver Maple Court in Bowie, Maryland, USA belongs to an uncle of the Madueke siblings and was purchased in 1995 when Ugonna was only eight years old.

“As a student of the University of Maryland in 2002, Ugonna stayed with his uncle at the said address. All of this was before Mrs. Diezani was appointed to government office,” he added.

He denied that Alison-Madueke or a distant relation has anything to do with the ownership of No. 4227 Summit Manor Court in Virginia.

“It is evident that what the online news media did was to turn on an internet search engine and maliciously reported that every property where Ugonna Madueke has ever lived in the United States or used as his address must belong to him. The description of the properties as posh was the icing on the propaganda cake. This is not only unprofessional, as it offends the tenets of journalism, it is clearly not in resonance with good conscience,” Onwudiwe explained.

He also cited another allegation by the online news media that Ugonna and his cousins registered a company by the name Hadley Petroleum Solutions Limited which they used to deal in Nigerian crude oil sales.

He acknowledged that as young men bubbling with enthusiasm and fantasy, they actually registered a company but after two years of no jobs, the company folded up.

According to the lawyer, the company never had a bank account, let alone being a trader of Nigeria’s crude oil, adding that the online news media lied in its claim.

He also noted that the online news media took its campaign to the in-laws of the Maduekes by alleging that Mrs. Beatrice Agama, the 81-year-old mother of Diezani, owns a house in the United Kingdom.

Onwudiwe described the allegation as a lie, stressing that Mrs. Agama has no house or property in the United Kingdom.

“She has been staying in a rented two-bedroom flat from where she is receiving medical attention for a broken femur. Her son, Timi Agama, who has been living in the UK for decades, used to have a house in the UK long before his sister was appointed to government and he sold it long ago. Since then, he has no house in the UK. Archbishop Doye Agama of the Apostolic Pastoral Congress in Manchester, who is in his 60s, is a successful professional and consultant well known amongst his peers, but he does not own Unit 8 Quebec Building in Manchester which the online newspaper ascribed to him,” Onwudiwe explained.

He also accused the mainstream media in Nigeria of alleging that the former petroleum minister attempted to purchase a property on Hyde Park Street in London “for a whooping amount which embarrassingly ranges from £12.5 million sterling to £13 billion sterling.”

Onwudiwe said: “This claim is utterly false and laughable, for the amounts mentioned are only in the imagination of the reporters. This property is quite popular. It belongs to a well-known eminently successful Nigerian entrepreneur who would also find this allegation embarrassing as the intention to sell the property has neither been contemplated nor disclosed to any person.

“The Madueke family, like most other families, has its own challenges. For instance, Mrs. Diezani Alison-Madueke has been receiving treatment for cancer in the UK which started while she was in office. The health crisis has unfortunately exacerbated in recent times. She completed months of chemotherapy just last week and she is scheduled to undergo surgery next week in London. The family has been bearing this challenge with prayers and as much grace and fortitude as possible; and would plead with all reasonable Nigerians to pray for her recovery so that she can face this allegation and give account of her stewardship. Yes, she can—and very well, too.”

According to the family lawyer, Ugonna’s father, Rear Admiral Allison Amaechina Madueke (rtd), has been in Lagos and working in his office, adding that “the lies about his having travelled with a team of lawyers should please stop.”

Their lawyer added that the Madueke family had taken a decision on how to appropriately deal with those who are on a mission to soil their hard-earned family name. [myad]

 

Buruji Kashamu Back To Drawing Board, As Tribunal Quashes His Senatorial Election

Kashamu Buruji

The National and state Assembly Elections Petition Tribunal sitting in Abeokuta, Ogun State has nullified the election of the Senator representing Ogun East Senatorial district, Prince Buruji Kashamu,over non-compliance with electoral law.

The three- man panel headed by Justice Ebiowei Tobi in their judgment today, ordered the Independent National Electoral Commission (INEC) to conduct a fresh election in 110  polling units in the Senatorial district within 90 days.

The petition challenging Kashamu’s victory in the March 28 National Assembly elections, was filed by the candidate of the All Progressives Congress (APC), Prince Dapo Abiodun.

Kashamu represented the Peoples Democratic Party (PDP) in the election.

The tribunal delivered its verdict today having earlier reserved judgment in the petition against Kashamu who is believed to be sponsoring a bill on Mental Health that had gone through first reading on the floor of the senate on Thursday alongside 11 other bills.

The tribunal similarly nullified the election of Hon. Adesegun Adekoya representing Ijebu East, Ijebu North/Ogun waterside, who on Thursday moved a motion for the probe of $407 million probe of $407 million CCTV cameras for Lagos and Abuja.

Aside Adekoya, the elections of five members of the Ogun state assembly were similarly nullified for non-compliance with the electoral law.

The tribunal has ordered fresh elections in the areas affected within the next 90 days. [myad]

Amuneke Names 21 Players For FIFA U-17 World Cup In Chile

Amuneke football coach

Head Coach Emmanuel Amuneke has named 21 players who will represent Nigeria at the 16th FIFA U-17 World Cup to be hosted in Chile between October 17 and November 8 this year.

Amuneke who described his list as very exciting, said that he was confident the players would fly the country’s flag very well in Chile.

“The World Cup is here and we have picked the best players for this assignment to represent our country. We added new players to the team that secured the ticket for Chile at the last African U-17 Nations Cup in Niger Republic and we believe this crop of players would give their best as we are the defending champions.”

Team captain, Kelechi Nwakali, as well as strikers Victor Osimhen and Ebere Osinachi, who were in the team that secured the country’s World Cup ticket at the African U-17 Nations Cup in Niger in February, made the final list for the competition Nigeria won in 1985, 1993, 2007 and 2013.

New faces in the team are defenders David Enogela, Ibe Tobechukwu and Ejike Ikwu.

The Golden Eaglets will play the opening match of the FIFA U-17 World Cup against the USA on October 17 in Santiago.

The Eaglets’ other Group A matches against host, Chile, and Croatia will be played on October 20 and 23 respectively.

Here is the full List:

  1. Akpan Udoh – Goalkeeper
  2. John Lazarus – Defender
  3. Tobechukwu Ibe – Defender
  4. David Enogela – Midfielder
  5. Lukman Zakari – Defender
  6. Kingsley Michael – Midfielder
  7. Funsho Bamgboye – Forward
  8. Samuel Chukwueze – Midfielder
  9. Victor Osimhen – Forward
  10. Kelechi Nwakali – Midfielder
  11. Chinedu Madueke – Midfielder
  12. Chukwudi Agor – Midfielder
  13. Joel Osikel – Midfielder
  14. Ejike Ikwu – Defender
  15. Udochukwu Anumudu – Forward
  16. Amos Benjamin – Goalkeeper
  17. Osinachi Ebere – Forward
  18. Edidiong Essien – Midfielder
  19. Sunday Alimi -Forward
  20. Orji Okwonkw o – Forward
  21. Chisom Chiaha – Goalkeeper. [myad]

 

Armed Robbers Invade Imo Airport, Cart Away N20 Million, Others

armed robbers

Suspected armed robbers have raided a micro finance bank located in the Sam Mbakwe Cargo Airport, as well as the offices of Arik and Air Peace Airlines in Imo State, making away with the sum of over N20 Million other valuables.

Eye witness accounts said that the  armed robbers who besieged the airport in two unmarked vehicles, overpowered the security men attached to the bank.

The source who stated that the noise of banging of doors and windows by the robbers coupled with their gunshots scared people away from the scene.

An employee of Arik Air, who didn’t want to be named, said their offices were broken into and that company and personal valuables of the workers were stolen.

“We are still in shock how the robbers could have been able to operate freely without being challenged, with the number of security men at the Airport, calls for serious concern because if the Airport cannot be safe, where else can be.”

The Imo State Police Public Relations Officer, Mr. Andrew Enwerem, has confirmed the incident, saying however that it was a case of burglary.

“We got the report that some hoodlums broke into a Micro Finance Bank at the airport, but we did not get any report that they removed cash and no one was killed or wounded.

“Already investigation is ongoing and the the two security men attached to the bank are currently being interrogated.” [myad]

Nigeria Loses $966m To Crude Oil Swap Deal – NEITI

NEITI Orji Ogbonnaya

The Nigeria Extractive Industries Transparency Initiative (NEITI) has said that the Federal Government lost $966 million in revenue from the crude oil swap deal between 2009 and 2012.

NEITI’s Communications Director, Orji Ogbonnaya-Orji, made this known in Lagos at a forum on subsidy, organized by Media for Oil Reform in collaboration with School of Media Communication, Pan Atlantic University.

Crude Oil Swap is an arrangement by the Federal Government whereby the Nigeria National Petroleum Corporation supervises the trading of the nation’s crude oil for refined products.

Ogbonnaya-Orji said there had been public concern about the objective of this arrangement which was being compromised, adding that in 2012 alone, the cost of crude oil swapped was $6.4bn, while value of refined products returned to Nigeria was $6.3 billion.

This, he said, left the sum of $100 million as revenue loss incurred by government, stressing that similar concerns were raised with subsidy payment.

According to him NEITI’s audit reports disclosed that N4 trillion was oil subsidy payments between 2006 and 2012.

Ogbonnaya-Orji said that in 2006, N219.72 billion was spent on subsidy, in 2007 N236.64 billion; 2008 N360.18 billion; 2009 N198.110 billion; 2010 N416.45 billion, 2011 N1.9 trillion and in‎ 2012 N690 billion.

“The subsidy payments in 2012 amounting to N690 billion when compared with N1.9 trillion paid in 2011 showed a 29 per cent reduction. This reduction may be due to the January 2012 national protest against oil subsidy.”

The NEITI media director ‎said the transparency initiative audit also revealed that NNPC had claimed that a total sum of N1.7 trillion was paid as subsidy between 2006 and 2012.

“NNPC deducted this sum directly from domestic crude oil proceeds before remitting the balance to the federation account. Subsidy deductions by NNPC increased by 110 per cent from 198 billion in 2009 to N416 billion in 2010, and 89 per cent in 2011 from N416 billion to N786 billion.

“The increase between 2009 and 2011 alone was 186 per cent from N198 billion to N786 billion.”

He said that government needed to conduct an in-depth investigation into the management of subsidy payments and ensure that NNPC followed due process in the PSF scheme.

Orji urged the government to deregulate the downstream sector and ensure that refineries worked to their full capacity. [myad]

North Inaugurates Committee To Make Laws To Punish Boko Haram Sponsors, Cattle Rustlers

Borno-State-Governor

Borno State Governor and chairman of the Northern Governors Forum, Kashim Shettima on Friday inaugurated a committee of Attorneys General and Commissioners of Justice of the 19 Northern States to review the criminal justice system contained in the penal code which applies to the north with a view to coming up with laws that will spell out punishments for insurgency, sponsors of insurgency like the Boko Haram.

Others are parents who offer their wards to carry out suicide attacks in promot‎ion of terrorism, cattle rustlers, kidnappers‎, rape and similar crimes that are not reflected in the legal system.

Deputy Governor of Kaduna State, Barnabas Bala, Secretaries to Governments of the 19 northern States, Attorneys General and Commissioners of Justice or solicitors General across the 19 northern States were present at the inauguration which held at the Hassan Usman Katsina House in Kaduna.

Governor Shettima said the inauguration was in furtherance of one of the resolutions of the Northern Governors at their meeting on Friday, September ‎11, 2015.

He explained that the penal code, which is the legal system of the northern States didn’t envisage criminal activities like terrorism and insurgency, cattle rustling, kidnapping, rape and other criminal activities that were not prevalent in the north at the time laws contained in the penal code were put in place.

‎”I am delightfully honoured to inaugurate this High Powered Committee of legal experts who, based on your legal standing, professional expertise and profound wealth of experience, were selected to critically examine the Criminal Justice System of Northern Nigeria vis-à-vis the current spate of emerging criminal offences prevalent in the Northern States and determine how best to incorporate them into the Penal Code.

“The establishment of this Committee is the direct outcome of one of the resolutions of the last meeting of the Northern States Governors’ Forum held here in Kaduna on the 11th of September 2015; to the effect that most of the criminal offences currently being perpetrated especially in this part of the country like kidnapping, cattle rustling and inciting religious preaching, inter-alia have either not been adequately covered by the Penal Code or not at all.

“Therefore it has become a matter of strategic imperative to review the existing Criminal Justice System in its entirety in order to ensure that it is up to date and consistent with our current situation.

“The Boko Haram insurgency which has been raging on for the past six years is one of the many serious security challenges we are experiencing.

“It has been generally agreed that one of the root causes of the insurgency was unlicensed and inciting preaching by the sect which inevitably stoked the violence and culminated in the extremely complicated and unconventional security situation facing this part of the country and in particular the North-East.

“The attendant consequences of the insurgency is the resort to the abduction and conscription of vulnerable and innocent people particularly school children. The case of the Chibok school girls has been universally condemned and still fresh in our mind.

“Although not widely reported in the media there have been series of abductions of innocent people by the Boko Haram insurgents.

“The Committee should also look at the condemnable activities of the so called sponsors of the insurgency and come up with legally pragmatic, appropriate and proportionate punishment.

“The Committee should also focus specifically on parents who because of some pittance, sacrifice their children as suicide bombers. Such parents must be made to face the full wrath of the law.

“Similarly, the issue of cattle rustling has been gradually assuming a disturbingly unacceptable dimension which quite often degenerates into the vicious circle of unwarranted mass killings and deadly reprisal attacks.

“These are just few examples of the multifarious security challenges we are confronted with and in order to overcome them with appreciable degree of success we need to adopt an effective legislative framework; hence the need for the review of the Criminal Justice System of the Northern States.

“As legal experts, you are at liberty to fashion out the appropriate specific Terms of Reference. However to facilitate the process of your work, I should mention the generic guidelines to guide you which include the following: A thorough and meticulous review of the Penal Code as it exists with a view to pointing out its weaknesses and constraints in the overall administration of Criminal Justice System in the Northern States; Careful analysis of the various emergent security challenges confronting the Northern States and determine how best to incorporate them into the Penal Code for proper and effective administration of justice and ‎to make any other recommendations the Committee deems necessary in the course of its assignment.

“As you are all aware, I need not to reiterate that the holistic review of the Criminal Justice System must be consistent with the provisions of the 1999 Constitution as amended and/or any Act of the National Assembly for the time being in force as any review that is inconsistent with the provisions of the Constitution of the Federal Republic of Nigeria or any Act of the National Assembly is null and void to the extent of its inconsistency.” [myad]

Congo National Team Sends Nigeria’s To The Cleaner, With 2 – 0

Supper Eagles and Bafana Bafana

Leopards of DR Congo, this evening, whipped the Supper Eagles of Nigeria by 2 goals to nothing. The two goals were scored in the first half of the friendly match, played in in Vise, Belgium.

This disappointing performance came just as the sport loving Nigerians were recovering from the disappointing goalless draw with Tanzania last month in the second match day of the 2017 Orange Africa Cup Of Nations qualifiers.
The match this evening, according to football game analysts, has also proved the incompetency of the Supper Eagles new head coach, Sunday Oliseh, whose clash with the team’s captain, Vincent Onyeama has resulted in the resignation of the latter (Onyeama) from the National Team just a few hours ago.

In today’s match, Crystal Palace winger, Yannick Bolasie located Dieumerci Mbokani, who turned sharply to fire past goalkeeper Carl Ikeme for the opening goal as early as the sixth minute.
A ball-watching Nigeria defence was punished for Congo to double their lead in the 30th minute, when Jordan Nkololo tucked the ball home after a great piece of attacking play from the left wing
In the 41st minute, Ogenyi Onazi’s free kick was heading for the top corner of the DRC goal, but goalkeeper Parfait Madanda did well to push it away for a corner kick.
Nigeria chased the game from the opening goal, but they did not create any clear-cut chance at goal and Congo were also resolute in their defending.
There were no goals in the second half as Nigeria failed to really trouble the Congolese defence.
The Leopards even had an effort by the tricky Bolasie chalked off for offside in the 63rd minute.
They looked the more likely to score again and Oliseh was forced to make a defensive change in the 65th minute, when he brought in defensive midfielder Obiora Nwankwo for the ineffective Watford striker Odion Ighalo.
The introduction of Emmanuel Emenike and Moses Simon may have brought some urgency to the Eagles attack, but that was about it as they could only force a big save from the Congo goalkeeper in the dying moments of the encounter.
Three-time African champions Nigeria will now shift their focus to an even tougher preposition  when they take on the Indomitable Lions of Cameroon on Sunday in Brussels. [myad]

 

Confirmation Of Amaechi, Amina Ibrahim’s Nomination As Ministers May Run Into Hitches

Amina Ibrahim
Senate confirmation of the former Rivers state governor, Chief Rotimi Amaechi from Rivers state and another nominee from Kaduna state, Amina Ibrahim as ministers, may run into hitches.
Information reaching us indicated that while Amaechi’s confirmation is being threatened by petitions that have already been submitted to the Senate against him for alleged corruption at the time he was governor, Amina Ibrahim is alleged not to be an indigene of Kaduna state.
This is coming against the background of the Senate rule which says that approval of a person for the position of minister should enjoy the acceptance of at least two senators from the state of the nominee.
Speaking on the matter today at a news briefing, the Senate spokesman, Senator Sino Melaye,‎ said a minimum of two senators from the state of a nominee must have subscribed to their nomination.
Melaye said that whoever is on the list must satisfy the criteria of being a member of the House of Representatives, quoting section 147 (5).
The spokesman said that it is compulsory for all the nominees to show proof of assets declaration to the Code of Conduct Bureau for them to be able to face the Senate next week. He therefore advised all nominees to, as a matter of urgency, forward their curriculum vitae.
“It is mandatory that all nominees will show evidence of asset declaration as part of requirements for screening.
“‎No person shall be appointed as a Minister of the Government of the Federation unless he is qualified for election as a member of the House of Representatives.”
While the three senators from Rivers State have raised allegations of corruption against Ameachi, the Kaduna South Senator are arguing that Amina Ibrahim is not an indigene of the state.

Amaechi
The petition submitted against Ibrahim reads: “We strongly object to the nomination of the Ministerial nominee for Kaduna State, Amina Ibrahim Mohammed. Our objection is predicated on the fact that we have reasons to believe that she is not an indigene of Kaduna State but Gombe State. The nomination and subsequent confirmation of Ministers of the Federal Government is a constitutional exercise that must be strictly followed. First, section 14 (3) and (4) of the Constitution of the Federal Republic of Nigeria provides thus:
“14 (3) The composition of the Government of the Federation or any of its agencies and the conduct of its affairs shall be carried out in such a manner as to reflect the federal character of Nigeria and the need to promote national unity, and also to command national loyalty, thereby ensuring that there shall be no predominance of persons from a few State or from a few ethnic or other sectional groups in that Government or in any of its agencies.‎”
It is gathered that so, the three Senators from Rivers State have submitted a petition against the confirmation of Amaechi. [myad]

Electricity Tariffs Cannot Remain At Current Levels, Says Vice President Osinbajo

Osinbajo

Nigeria Vice President, Professor Yemi Osinbajo has made it clear that until there is stability in the power sector, electricity tariffs cannot remain at the levels they are now. Osinbajo who spoke today as representative of President Muhammadu Buhari at the Annual General Meeting of the Manufacturers Association of Nigeria, (MAN), said: “at this point, if we wanted to have a cost effective tariff, the only way is to service that core value chain. The only way is to ensure that we are paying and compensating the value chain -from generation down to distribution- a cost effective tariff.” “Power is of course crucial and as the president said in his inaugural address, to which President Mbeki referred, the question of power is one that is absolutely crucial to manufacturing and practically everything else and we shouldn’t be rejoicing at 4000 Megawatts of power. But the problems are historical and several of those problems will need tackling head on, on a day-by-day basis. “One aspect of the problem that i want to speak about, because this also affects manufacturing, is the whole idea of the tariffs. Of course the president of MAN just said that we have one of the most expensive electricity in the world. “You cannot have that cost effective tariff without some pay. At the moment, (when you compare) how much it costs to produce power, and the amount of power that is generated, the losses on account of distribution are significant. In some cases you have up to 40% losses in distribution, and of course it is the DisCos that have to take that burden. “The GenCos (generating companies) are producing power but they expect to be paid for all the power that they produce. Now, if 40% of this is lost, it means the DisCos cannot collect 40%, but they have to pay for it somehow. So government has to come in and play some kind of role in order to ensure that the whole value chain is paid for. “But the most important thing is that the cost of power is reflective of costs that have to be borrowed at every stage of the value chain and today the cost of power, if it’s going to be reflective in any way is simply what it is. It will be very difficult indeed, except if we are going introduce yet another subsidy and by the way, a fair amount of that goes on already in the way that government supports the GenCos and the DisCos. “But I think that we must be ready to accept that for a while, until things stabilize somewhat, tariffs cannot remain at the levels at which they are today, they cannot remain at that level, and that just simply is the truth of the matter. “It certainly means that there may be higher costs, but I don’t think that a option of not having power is really what we want. The real issue of course is that at the end of the day, some of the cost goes to the consumer, but a cost reflective tariff is an absolute necessity, otherwise, privatization and all of that simply doesn’t make sense. “ Vice President similarly made it clear at the meeting that a review of the Central Bank of Nigeria (CBN) restrictions on foreign currency is not imminent. “I want to make it absolutely clear that the position is not that a review of the CBN restrictions on foreign exchange is imminent. It is a short term measure, not a policy, and as things improve, we will have a discussion about what to do. But certainly not that a review is about to take place.” [myad]

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