Sovereign Investment Rakes-In $44. 3 Billion Profit In 2018, $24 Billion In 2019

November 22, 2019

Uche-Orji-CEO-Nigeria-Sovereign-Investment-Authority | Photo credit: Guardian

Managing Director/Chief Executive Officer of the Nigeria Sovereign Investment Authority (NISA), Uche Orji has announced a profit of $44. 3 Billion in 2018 and $24 Billion so far in this year.

Briefing members of the National Economic Council (NEC), presided over by Vice President Yemi Osinbajo, at its meeting today, November 21, at the presidential Villa, Abuja, Uche Orji said that the profits were jointly made by the NSIA and its group.

“This is achieved in the face of a volatile international market environment driven by the trade dispute between the United States and China as well as Brexit challenges.”

He said that the NSIA is focused on its infrastructure, funds agriculture, road, power, healthcare projects and industrialization.

“Within the toad sector, the NSIA as the manager of the Presidential Infrastructure Development Fund (PIDF), is focused on deploying capital to ensure the completion of the second Niger Bridge, Abuja-Kano Highway and Lagos-Ibadan Expressway.

“Other projects under the PIDF include the Mambila Hydro Power project and East-Ways Road. The NSIA also intends to deploy capital in expanding its health projects, following a successful implementation of its cancer treatment project through Public-Private Partnership (PPP) with LUTH as well as a diagnostic and Radiology centre in Aminu Kano Specialist Hospital,

to be commissioned next month, and the Federal Medical Centre, Umahia through the same PPP. It will be finished in the first quarter of 2020.

“To facilitate this, the NSIA will create co-investment fund to bring other investors into these projects to ensure that it gets to completion and the revenue model will include tolling the roads as other opportunities to ensure that these roads are viable.”

After the presentation of the report, NEC resolved to invest an additional $250 into the NSIA.

Kaduna State Governor, Nasiru Ahmed el-Rufai was appointed to chair a committee of the National Economic Council to consider how a portion of the Pension Fund can also be leveraged into investment in the NSIA with possible implementation with PenCom.

The committee will include the finance minister, the central bank governor and the managing director of the Nigeria Sovereign Investment Authority.

Meanwhile, members of the National Economic Council have unanimously voted for the injection of an additional US$250 million in core capital to the Investment Authority, bringing the total contribution to the Authority from the federation account to US$1.75 billion and represents the third contribution to the Authority from the current administration.

The Nigeria Sovereign Investment Authority, a corporate body established by the Nigeria Sovereign Investment Authority (Establishment, etc.) Act 2011, is mandated to manage funds in excess of budgeted hydrocarbon revenues. Its mission is to play a leading role in driving sustained economic development for the benefit of all Nigerians through building a savings base for the Nigerian people, enhancing the development of Nigeria’s infrastructure and providing stabilisation support in times of economic stress. NSIA operates three mandate funds: the Stabilisation Fund, the Future Generations Fund and the Nigeria Infrastructure Fund.

Buhari Acknowledges Humilty, Patriotism Of Ex President Jonathan

Greenbarge Reporters

November 21, 2019

President Muhammadu has again acknowledged the humility and patriotism of the former President, Dr. Goodluck Jonathan as he clocks 62.
In a statement today, November 20 felicitating with the former President, President Buhari said that Jonathan’s “legacy of humility and patriotism will continue to resonate, inspiring generations to come on the sacrifices made for the stability of democracy and promotion of sustainable development.”
Buhari, who prayed for Jonathan for longer life, good health and more strength also commended him for good counsels to leaders within and outside Nigeria since he left office, sharing his experience of serving at different levels of governance.
The President wished the former President and his family more years of joyful celebrations.

I Have Successfully Buried Ethnic Politics In Kogi State – Gov Yahaya Bello

Editorial staff

November 21, 2019

Kogi State Governor, Alhaji Yahaya Bello

Governor Yahaya Bello, who has just been elected and certified for a second term as governor of Kogi State has said that he has successfully buried ethnic politics that had defined the state all along.

Speaking to news men today, November 21 after presenting the certificate of return from the Independent National Electoral Commission (INEC) to President Muhammadu Buhari at the presidential Villa, Abuja, Yahaya Bello said that he inherited a state that was largely divided along ethnic lines.

He said that in the Saturday November 16 election, he was able to put that behind the state.

“It has been proved that ethnicity is not the way: that it is a monster that has held the country down and that tore the states apart sometimes.

“By the special grace of God, today in Kogi State, ethnicity has been buried finally. Because, in this particular elections, I won overwhelmingly in all three senatorial districts of Kogi State.”

Governor Yahaya Bello said that he had a lot of task ahead of him and that the journey has just begun.

“I need the cooperation and understanding of every citizen and resident of Kogi state to join hands with me so that we can do more for Kogi State.”

The governor said that before the election he had predicted that the issues of winning the election was not in question but the margin with which he will defeat his opponent, “and that he will have no reason whatsoever to go to tribunal.

“However, going to the tribunal is their right and if they so wish, we will meet in court.

“But I want to use this opportunity to call on all those that contested the elections with me, starting from the Primaries of our party to the main election, all other political parties to please join me. We are all citizens of Kogi State.

I Will Reciprocate Your Votes With Good Governance, Yahaya Bello Promises

Editorial staff

November 21, 2019

Governor Yahaya Bello of Kogi State has promised the people of his renewed commitment to good governance as a way of reciprocating the massive votes they gave him for a second term, in the last Saturday, November 16 election in the State.

The governor, who received the certificate of return as governor-elect from the Independent National Electoral Commission (INEC), along with his deputy governor-elect, Edward Onoja, thanked the people of the State for his re-election even as he solicited their cooperation and continued support.

He assured that no axis of the state would be left out in the new dispensation, irrespective of ethnic or political affiliations.

Governor Yahaya Bello vowed to work seriously with the security agencies to fish out perpetrators of violence that greeted the November 16 governorship polls either before, during and after the election.

Zonal National Commissioner of INEC for Kogi, Niger, and Kwara States, Mohammed Haruna, who presented the certificates to them today, November 21, said that it marked the beginning of a new era in the state.

This was even as the Chairman of Interparty Advisory Council (IPAC) in Kogi, Ibrahim Itodo, called on Governor Yahaya Bello to unify all as the state’s number one citizen.

Yahaya Bello and Onoja will be sworn in on January 27, 2020.

Oshiomhole Advises Gov Yahaya Bello To Have Eye On Posterity As He Goes For Second Term

Editorial staff

November 21, 2019

President Buhari congratulates Kogi State Governor Yahaya Bello on Re-Election in State House on 21st Nov 2019

Chairman of the All Progressives Congress (APC), Adams Oshiomhole, has advised the Kogi State Governor, Alhaji Yahaya Bello to bear in mind, the legacy he would leave behind as he won an election for a second term of another four years.

Oshiomhole, who spoke to news men at the presidential Villa, Abuja, after presenting Governor Yahaya Bello to President Muhammadu Buhari today, November 21, as governor-elect said that the victory of Yahaya Bello in Kogi State represents many things for those who truly believe that Nigeria politics should move away from sentiments, to dealing with people for who they are, rather than where they come from.

“So, for us in the APC, we are very proud and we presented him to the president. The president was very proud, of course he congratulated him and was happy to see his certificate and he has encouraged us to recognize that the reward for hard work as they say is more work.

“And I am sure that governor Yahaya Bello, having passed through the learning curve, is going to approach the second term with all the vigor with eye for posterity and legacy marks in the development of Kogi state.

“We as party, appreciate the people of Kogi State for standing by the party and voting for Yahaya Bello and I want to assure them, that like we said during the campaign, governor Yahaya Bello will do everything possible to ensure that as they say, to whom much is given much is expected.

“He will give his all to the people of Kogi State to reciprocate the good will and the confidence that has been reposed on him as result of the election that was conducted last saturday, November 16.”

Save Us From Control Of State Governors, Speakers Of 36 State Houses Of Assembly Pleads With Buhari

Editorial staff

November 21, 2019

Speakers of the State Houses of Assembly have converged on the Presidential Villa, Abuja, to appeal to President Muhammadu Buhari to save them from the control of their governors.

They pleaded with the president to issue an executive order directing the Accountant General of the Federation to separate funds for the state legislature and judiciary at source.

The speakers, under the auspices of Conference of Speakers, commended the President over his efforts to ensure financial autonomy for the legislature and judiciary.

Speaking on behalf of his colleagues, the Speaker of the Lagos State House of Assembly, who is the Conference chairman, Mudashiru Obasa, also appealed to the President to consider supporting the devolution of powers to states on some issues on the exclusive list, like railway and the police, for more effective governance.

Responding, President Buhari said: “I try as much as I can to always be loyal and obedient to the constitution so long as it is humanly possible,’’ even as he vowed to keep pursuing the prosperity of all Nigerians by creating more jobs for the people, and plugging the weaknesses exploited by many to make quick money.

“The 8th National Assembly sometimes kept the budget for seven months. And I had to call the Senate President and the Speaker then. I told them by delaying passage of the budget you are not hurting Buhari, but the people.”

President Buhari said the delay persisted in spite of his efforts to seek more understanding.

The President said that he will ensure equity and fairness that put the ordinary Nigerian on top priority, assuring that he will continue to focus on health, education, infrastructure and improving lives through social intervention programmes.

“We have in the last four years dedicated significant resources to key social services sectors especially in health, education as well as our massive social investment programs. We have also started restoring our infrastructure to levels that this country expects.

“I also want to assure you that we remain committed to ensuring that equity and fairness prevail in governance. I will ensure that we consult your conference to further enhance the positive impact of our interventions across the country.”

Court Sacks Governor Ganduje’s 4 Emirs In Kano State

Editorial staff

November 21, 2019

Kano State High Court has nullified the creation of four additional emirates – Rano, Gaya, Karaya and Bichiin – in Kano State.

Justice Usman Na’abba ruled today, November 21 that due process was not followed in the creation of the emirates.

Kano State Governor, Abdullahi Ganduje, had in May, signed the bill seeking the establishment of four additional first-class emirates following its passage by Kano State House of Assembly.

Ganduje installed the emirs – Aminu Ado Bayero as emir of Bichi; Ibrahim Abulkadir as emir of Gaya; Tafida Abubakar as emir of Rano and Abubakar Ibrahim II as emir of Karaye, at a ceremony held at the state capital.

The governor presented staff of office to the emirs and charged them to work for the good of the public.

The creation of new emirates is seen by many as Ganduje’s personal vendetta against the Emir of Kano, Muhammad Sanusi II, in order to reduce the emir’s influence.

But Ganduje has severally denied allegations he is trying to reduce the emir’s powers.

Buhari To Security Agents: Attack Kidnappers, Bandits With Merciless Intensity

Editorial staff

November 21, 2019

“You should spare no effort in breaking the backbone of these savage mass killers and don’t hesitate to attack them with merciless intensity until they are crushed and ultimately defeated.”

These is the marching order which President Muhammadu Buhari handed down to the security agencies and communities on the renewed attacks by kidnappers and bandits in parts of the country, with the latest in Enugu, Zamfara, Adamawa, Katsina and Kaduna States.

Reacting to the recent reports of heightened acts of violence and kidnappings after a period of relative inactivity, the President said: “in view of the unpredictability of the security situation, our security forces and the communities affected should be ever more alert because these murderous and remorseless criminals would take advantage of your complacency and strike again.”

He said that the kidnappers and bandits should under no circumstances be allowed to hold the country to ransom on account of security loopholes which they seek to exploit to strike at their victims.

Buhari reminded security personnel that the criminals always look for loopholes in the security system in order to remain in business and active, stressing that they should not be given space to achieve this diabolical objective by pre-empting them.

“Complacency is a hidden or unnoticed enemy that we shouldn’t take for granted, because doing so could weaken our strategies.”

The President said that the affected communities also have a responsibility to help the security agencies with the critically important human intelligence in order to stop the bandits in their tracks.

“The bandits maintain networks of informants among the communities they attack. By identifying and reporting these informants to the authorities, it would be by far easier to foil the bandits before they reach their intended targets.”

Hate Speech Bill: Sokoto Gov Advises National Assembly To Hold Public Hearing

Editorial staff

November 21, 2019

Sokoto State governor, Aminu Tambuwal has advised the National Assembly to conduct public hearing on the controversial hate speech bill which prescribes death penalty for the offenders.

The governor, who doubles as Vice Chairman of the Nigerian Governors’ Forum (NGF), said that no governor has come out openly to support the death penalty as punishment for defaulters of the hate speech bill.

Tambuwal, who spoke to news men last night, November 20 at the end of the NGE’s meeting in Abuja, insisted that the public hearing would aggregate the the views of Nigerians.

“I’m not sure I have heard any governor come out to say he is in support of the death penalty for hate speech.
“I believe that the National Assembly should hold a public hearing on that bill, so that due process of lawmaking is followed.
“This is so that the views of Nigerians, not just the governors, will be well captured on that bill and they (National Assembly) should respect the views of Nigerians in whatever may be the direction of debate and the eventual passage or otherwise of that bill. ”

Buhari Launches War Against Open Defecation, Signs Executive Order 009

Editorial staff

November 20, 2019

President Muhammadu Buhari has formally launched a war against open defecation with the signing of an Executive 009.

The Executive Order 009 titled: The Open Defecation-Free Nigeria by 2025 and Other Related Matters Order, stated as follows:

1. That by this Order, Nigeria is committed to being open defecation free by 2025.

2. That the National Open Defecation Free (ODF) Roadmap developed by the Federal Ministry of Water Resources with support from other key sector players across Nigeria be put into effect.

3. a. There is established in the Federal Ministry of Water Resources a National Secretariat called “Clean Nigeria Campaign Secretariat”.

b. The Secretariat is authorized on behalf of the President to implement this Order by ensuring that all public places including schools, hotels, fuel stations, places of worship, market places, hospitals and offices have accessible toilets and latrines within their premises.

4. All Ministries, Departments and Agencies (MDAs) of government shall cooperate with the Clean Nigeria Campaign Secretariat.

5.The National Assembly and the State Houses of Assembly shall enact legislation on the practice of open defecation with appropriate sanctions and penalties.

6. All development projects shall include construction of sanitation facilities as an integral part of the approval and implementation process.

7. The Secretariat shall terminate when Nigeria is declared Open Defecation Free.

8. All enforcement authorities are hereby directed to diligently collaborate with the Federal Ministry of Water Resources in implementing this Order.

The Executive Order 009 came into being against the background that:

Nigeria is ranked second amongst the nations in the world with the highest number of people practicing open defecation estimated at over 46 million people – a practice which has had a negative effect on the populace, and has contributed to the country’s failure to meet the United Nations Millennium Development Goals (MDGs);

President Buhari had described the statistics on open defecation and access to pipe borne water service and sanitation as disturbing, and had declared commitment to implement the National Water Supply, Sanitation and Hygiene (WASH) Action Plan;

The President had declared a State of Emergency on Nigeria’s water supply, sanitation and hygiene sector, the action being imperative as it will reduce the high prevalence of water borne diseases in different parts of the country which have caused preventable deaths;

Nigeria has committed to end open defecation throughout the country by 2025 in consonance with her commitment to the United Nations Sustainable Development Goals (SDGs);

This Executive Order takes effect from Wednesday, November 20, 2019.

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