The National Assembly has commenced a seven-week recess and will reconvene on September 17th, 2024.

This was announced after plenary on Wednesday.

Naija News reports both chambers of the Assembly – Senate and House of Representatives, will be on break for seven weeks which is their yearly recess.

Details later…

[NaijaNews]

European Champions Real Madrid have emerged the first football club in history to surpass €1billion ($1.085bn) in revenue a season, according to the club’s annual account for the 2023-24 season.

The club’s revenue, excluding player transfers, reached €1.073bn ($1.16bn), representing a 27 per cent increase from the previous year despite ongoing stadium renovations.

Madrid also reported a profit of €16million ($17.3m) for the fiscal year, with a net worth of €574m ($623m) and net debt of just €8m ($8.6m) as of June 30, 2024.

The team claimed to be the first football club to exceed €1bn in revenue.

In the previous campaign, Madrid enjoyed substantial success on the field, securing the Champions League title, their sixth in a decade, along with La Liga and the Super Cup.

The basketball team also excelled, capturing the Spanish league title, King’s Cup, and Spanish Super Cup while also reaching the Euro-league finals.

Nytimes com reports that the club’s earnings before interest, taxes, depreciation, and amortization (EBITDA) surged to €144m ($156m), marking a 71 per cent increase from the previous year.

This represents 13 per cent of total revenues, up from 10 per cent previously. When including player disposals, the EBITDA for the 2023-24 year is €156m ($169m), comparable to the €158m ($171m) reported for the 2022-23 financial year.

The Santiago Bernabeu Stadium renovation continues to advance, with a total investment of €1.163bn ($1.262bn) to date as the final phase of the project, including the completion of the VIP area, events spaces, and other commercial ventures, is anticipated to be completed in the 2024-25 financial year and this is expected to drive further revenue growth.

Madrid say they are planning to build on their commercial success.

The upcoming season will see the introduction of Kylian Mbappe to the squad, who joined on a free transfer after his contract at Paris Saint-Germain expired earlier this year.

[Leadership]

Leading opposition parties, some Civil Society Organisations (CSOs) and other prominent Nigerians have rejected the Senate’s bill to repeal the National Identity Management Commission Act, 2017, to make provision for registration of not just Nigerians but all other persons resident in Nigeria.

The Senate passed the bill for a second reading on July 2, 2024, without a serious debate even though it seeks to broaden the eligibility criteria for registration to include those who are not citizens of Nigeria. 

Daily Trust reports that the bill titled, ‘National Identity Management Commission (Repeal and enactment) Bill 2024 (SB. 472),” is sponsored by the Deputy President of the Senate, Barau I. Jibrin (Kano North).

The bill seeks to give persons resident in Nigeria the right to obtain and use National Identification Number (NIN) and utilise it as a recognised form of identification.

It also seeks to replace criminal penalties with administrative enforcement measures to encourage compliance with NIN usage requirements without imposing “undue legal consequences” on individuals.

A copy of the bill obtained by Daily Trust showed that apart from the controversial clause of inclusivity, universal coverage and broadening the eligibility criteria for registration, it also seeks the registration of registrable persons within Nigeria and at licensed centres outside Nigeria. 

Part 1 (2) of the bill which is titled, ‘Application’, in subsection (1) says, “This Act shall apply to registration of registrable persons within Nigeria and at licensed centres outside Nigeria, and the management and operation of the National Identity Database and related matters.” 

Subsection (2) says, “Without prejudice to (1), this Act shall apply whether or not an act qualifying as an offence or contravention of this Act is committed in Nigeria by any person, irrespective of nationality.”

Similarly, Part V1 (17) of the bill titled, ‘Registrable Persons’, says, “Every citizen and resident of the Federal Republic of Nigeria shall be entitled to obtain a National Identification Number by undergoing the process of enrolment in accordance with the provisions of this Act.”  

Part V1 (18) titled, ‘Registration of Registrable Persons’ among other things provides that “The Commission shall take special measures to enrol, and issue National Identity Numbers to such persons who do not have any permanent place of residence and such other categories of individuals as may be specified by regulations.”

It also aims at establishing a National Identity Database and the National Identity Management Commission charged with the responsibilities of maintenance of the National Database, the registration of individuals, and the issuance of identity credentials, among others. 

How it scaled second reading 

Supporting the bill, Senator Cyril Fasuyi (Ekiti North) said it is aimed at enhancing the NIMC’s regulatory capacity for more effective oversight and regulation of the Nigeria ID System.

The lawmaker said, “The objectives of the bill are as follows: Expanding the scope of registrable persons by broadening the eligibility criteria for registration under the Nigeria ID System to ensure inclusivity and universal coverage.

“This allows all persons resident in Nigeria to obtain a National Identification Number (NIN) and utilise it as a recognised form of identification.

“Streamlining the sharing of personal data by incorporating robust data protection measures to not only safeguard the privacy and confidentiality of individuals’ data but also to foster trust among citizens in the landing of their information.

“Enhancing administrative enforcement powers. The efficiency and effectiveness of the NIMC’s enforcement powers will ensure timely and accurate compliance with ID registration requirements.’’

But opposition parties, CSOs and others who reacted in separate interviews told Daily Trust that the bill sponsored by a senator who is a member of the ruling party (APC) is suspicious, alleging it has a political undertone. 

Move suspicious – PDP

The leading opposition People’s Democratic Party (PDP) has rejected the bill saying it is suspicious and of no economic value, especially at a time Nigerians are going through economic hardship. 

The PDP Deputy National Publicity Secretary, Abdullahi Ibrahim, told Daily Trust that there are more important things the National Assembly can do to assuage the economic impasse facing the people than the issue of NIN. 

“The Senate cannot think of people-oriented policies that will alleviate the suffering of the people, instead they are talking about things that are irrelevant at this point in time. 

“Getting everyone including non-Nigerians to get NIN is suspicious. What is the motive? Why are they more concerned about this type of policy and giving it expeditious attention that it will even emanate from the Deputy Senate President? It leaves much to be desired. 

“So as a party and people who are with the ordinary citizens and the voice of opposition, we are not in support; we do not see any sincerity in it,’’ he said.  

It’s a wrong move – LP

Similarly, the Labour Party (LP) said the move by the Senate to amend the NIMC Act to ensure that all persons residing in Nigeria obtain a National Identification Number (NIN) should not be allowed to see the light of the day. 

The Chief Spokesman of the Labour Party’s Presidential Campaign Organisation in the 2023 general election, Dr Yunusa Tanko, told Daily Trust in a telephone interview that the bill must be thrashed. 

“You cannot register those who are not Nigerians as if they are citizens of Nigeria; that will be wrong. This is an issue of serious concern. That is where it will create controversies. 

“It will be wrong if they are trying to adulterate our database with the identities of non-Nigerians. Are all persons resident in Nigeria, Nigerian citizens? No.”

It has a political undertone – Hon. Mikko

A former member of the House of Representatives and ex-governorship aspirant in Rivers State, Bernard Mikko, told Daily Trust in a telephone chat that the bill has a political undertone. 

Hon. Mikko said, “It is wrong. It should be a resident permit which is temporary; not NIN which is permanent. There should be a clear distinction between a resident and a citizen of Nigeria. 

“A citizen has an obligation and duty of taxation, cultural identity and all that, while residents do not. A citizen can vote and be voted for. Is the bill trying to say that aliens can vote in our country? These are the issues. 

“The issue of universal coverage in the bill, universal being global, which means everybody irrespective of whether you are from Togo, Niger, Cameroon, should be de-emphasised.

“Let them not put any political undertone to rig elections. We have to define who is a Nigerian citizen so that we don’t bring people through our porous borders into Nigeria to come and compromise our already dwindling, collapsing infrastructure for planning.”

It’s a threat to Nigeria’s sovereignty – CSOs 

Similarly, some CSOs have rejected the bill. The Executive Director, Resource Centre for Human Rights and Civic Education (CHRICED), Comrade Ibrahim Zikirullahi, said the move is a threat to Nigeria’s sovereignty, adding that the bill is a very sensitive issue that should be handled with utmost caution.

He warned the National Assembly not to hurriedly pass the bill without considering its larger implications. 

“Taking a cue from what is obtainable in advanced countries of the world, Nigerians need to ask the proponents of the bill some critical questions before buying-in into the idea.

“First, does allowing foreigners the right to obtain the National Identification Number automatically confer on them full Nigerian citizenship, according to the proposed bill? If the answer is yes, then, we strongly believe that it is a step in the wrong direction.

“Because, no serious nation affords foreigners the privilege of just picking up its citizenship without going through some rigorous processes of due diligence.

“Second, the government needs to clearly spell out the procedures and requirements for obtaining the NIN by foreigners, and the limits of the rights and benefits accruing to foreigners who hold Nigeria’s National Identification Number.

“Third, before jumping into hasty passage of the law and its implementation, there is need for the government to tidy up its immigration policies, ensure that its land, air and sea borders are adequately policed and ensure that officers of the Nigerian immigration service and other relevant security agencies are fully alive to their responsibilities,” Zikirullahi said.

He said failure to put these measures in place before contemplating such a law will not only constitute a threat to Nigeria’s sovereignty, but is a recipe for aggravating the already precarious level of insecurity in the country.

A Senior Communications Officer at Yiaga Africa, Mr Mark Amaza, said, “We don’t believe it necessarily means that it will enable them to vote considering the fact that the constitution is clear on who is qualified to vote in Nigeria. 

“We have the opinion that the law should also be amended to allow other forms of identity to be used to access the polls, not necessarily the voter card, considering how that has been problematic in the election.

“Many citizens have been disenfranchised from voting for lack of having a voter’s card for no fault of theirs. So, it’s also good that as this law is being debated, that this is also kept or put into consideration.”

However, speaking on the development, Mr Tunde Salman, the Team Lead/Convener of Good Governance Team (GGT) Nigeria, said, “I don’t see any problem in it, especially as INEC voters register is not linked to it. 

“Now, with many ongoing initiatives by the President Bola Tinubu administration, such as student loans, consumer credits, and grants that will require background checks, I think there’s a need to think through the proposal to address whatever gaps identified in the existing NIMC legislation.” 

The Chief Executive Officer of Financial Derivatives, Bismarck Rewane has said the adjustment of the Asymmetric corridor around interest rate by the Central Bank of Nigeria Monetary Policy Committee will reduce the pressure on Nigeria’s Foreign Exchange.

The renowned economist disclosed this on Tuesday on Channels Television while reacting to CBN’s hike in interest rate by 50 basis points to 26.75 percent.

He explained that the real deal is the MPC’s adjustment of the Asymmetric corridor around the Interest rate to +500/-100 from +100/-300 basis points.

He noted that this move would increase the cost of banks’ borrowing and deter borrowing from CBN to buy foreign exchange.

He added that the decision will boost Foreign Portfolio inflows in Nigeria.

“The interest rate increase is 50 basis points. The real deal is the Asymmetric corridor adjustment. What this means is that banks have been borrowing from the Central Bank to buy foreign exchange from the Central Bank. Before they were borrowing at 26 percent.

“As of today, they will be borrowing at almost 32 percent. That difference is almost 5-6 percent. It means the cost of borrowing has gone up astronomically, this means a deterrent to borrowing from the CBN to buy FX.

“That should reduce pressure on the foreign exchange rate. It is a subtle way of telling banks to stop robbing Peter to pay Paul”, he said.

Recall that the CBN raised interest for the fourth time in 2024 to 26.75 percent amid efforts to tackle core and food inflation which stood at 34.19 percent and 40.87 percent, respectively.

[DailyPost]

• Koko hands over new staff clinic, five other completed projects to successor

Immediate-Past Managing Director of the Nigerian Ports Authority (NPA), Mr. Mohammed Bello Koko has said the agency generated N541 billion in the first half of the year.

He said the agency also remitted N255 billion to the Consolidated Revenue Funds (CRF) within the first six months.

Koko said the performance of the agency in the first half of the year surpassed its year-on-year total revenue generation and remittances in any year, putting the cumulative revenue of the NPA between 2022 and the first half of 2024 at N1.423 trillion

According to him, his administration put in place sustainable reforms, especially a drastic improvement in the Turn-Around-Times of vessels and trucks in Apapa and TinCan ports.

He, however, said he is handing over a new staff clinic and five other completed projects to his successor for inauguration.

He confirmed that the NPA raised staff salary during his tenure, even as he pleaded with them (members of staff) to cooperate with and redouble their commitment to his successor.

The outgoing NPA MD, who dropped the hints in his valedictory remarks at the handover to his successor Dr. Abubakar Dantsoho at the agency’s headquarters in Lagos, said he felt fulfilled for improving NPA better than he met it.

He said: “We recorded an unprecedented growth in revenue generation and remittances to the Consolidated Revenue Fund (CRF) from Revenue of N381 billion in 2022 and N501 billion in 2023 to N541 billion in the first half of 2024 and remittances to CRF increasing from N93.4 billion in 2022 to N206 billion in 2023 and to N255 billion in the first half of 2024 – surpassing our year-on-year total revenue generation and remittances in any year.

“With unprecedented tax remittances to the Federal Government ranging up to N60 billion in the period of my stewardship, we raised the bar higher.

“Our hope and prayers are for the new management to continue on this trajectory and surpass it. But we were also deliberate on dialogue and driving reforms.”

He listed some of his achievements in office to including all-round port efficiency.

Koko said: “We hit the ground running with the necessary approvals to get the Lekki Deep Seaport fully operational to retake the lost transit and transshipment cargo.

“Promoted the non-oil export drive of the President by setting up ten (10) Export Processing Terminals (EPTs), mainstreaming it to the NXP and e-call up system to facilitate exports, and the result is evident in the attainment of a foreign trade surplus, as highlighted in the NBS report for Q1 2024.

“Upgraded data center, servers, storage, and business continuity; established a data recovery and protection unit with an up-to-date data protection audit certification.

“Digitised staff attendance for accountability and improved productivity; ensured the sustainability and free flow of cargo by clearing the decade-long traffic gridlock menacing the Apapa and Tincan Island port complexes, and its environs.

“Provided aids to navigation such as buoys, fenders, and bollards across all the ports, and also enhanced seaside operations by providing marine crafts, pilot cutters, tugboats, mooring boats, etc to improve port efficiency.

“These led to a reduction in both vessel and truck turn-around times. The vessel TAT went down from an average of 6.5 days to an average of 5 days, while truck TAT went from an average of 10 days to a few hours.”

Koko also said he was happy to have attained 100 per cent Ease-of-Doing-Business rating by the Presidential Enabling Business Environment Council (PEBEC).

He said: “We also restored service boat management  contract with attendant boost in revenue;

“Concluded the consultancy for the deployment of a Vessel Tracking System in conjunction with NLNG Shipping;

“Secured FEC approval for the expansion of the Snake Island Port and a willing private investment to the tune of $300m on this project;

“Secured FEC approvals for the development of new ports such as ports of Ondo, Badagry, Burutu, and Snake Island expansion project, amongst other proposals that have reached advanced stages of review and approval;

“Consultancy for the development of the 25-Year National Ports Masterplan to guide investment and port expansion plans;

“Attained a 100% ease-of-doing-business rating by the Presidential Enabling Business Environment Council (PEBEC), despite having the most number of reforms;

“In addition to the aforementioned, we were also able to conclude with the FMMBE/BPP on the deployment of the Port Community System (awaiting a few processes before seeking FEC approval), and its corollary, the National Single Window, as well as propel the subject matter of port modernization to conclusive stages with the signing of the mandate letters for the reconstruction of TinCan Island and the comprehensive rehabilitation of Apapa, Rivers, Onne, Warri, and Calabar Port complexes, respectively.”

On the six projects being handed over to his successor for inauguration, Koko said: “We have also completed some key projects that are ready for commissioning. These projects are crucial to staff development and improved efficiency.

“Some of them include; the Staff Clinic at Lagos Port Complex; inter-agency building at TinCan Island Port to accommodate agencies in the port in one place to enhance operational efficiency; security mobile scanners at the Lagos Port Complex; administrative buildings of the Tincan, Warri, and Rivers Ports; Maritime Workers Union of Nigeria’s Headquarters; upgraded Revenue Invoicing Management System (RIMS 2.0); and employees e-medical records management”.

“Let me begin by appreciating all of you for the life-applicable experience of the last eight years of my sojourn in the NPA.

“Looking back, I would like to summarize this tremendous phase of my life as a learning curve and an abiding history or experience.

“As I bow out today, I feel fulfilled for two reasons. Firstly, by working with all of you here, we have repositioned the authority for greater operational efficiency and unprecedented revenue generation and remittance to the Consolidated Revenue Fund (CRF) of the Federal Republic of Nigeria.

“Secondly, my sense of fulfillment derives from the fact that we have achieved a lot and have made the Authority far better than we met it, and now handing over to a management team of distinguished professionals with the requisite character, competence, and capacity to sustain and indeed surpass the current performance trajectory.

“As many of us are aware, the Authority under the management team I was privileged to lead was able to position the Authority for improved efficiency, revenue generation, accountability, and adherence to international best practices in port management and operations.”

He thanked President Bola Ahmed Tinubu and former President Muhammadu Buhari for “the incredible opportunity to serve as the MD of the NPA”.

Unveiling his plans for port rehabilitation and modernization, Dantsoho said that priority will be given to total automation of NPA processes and adequate staff welfare.

He said: “We will continue the digital transformation of the Authority and reinforce the current efforts at deploying the Port Community System (PCS) which we believe is key to our dream of total automation of our processes, thereby eliminating leakages and corruption.

“The current efforts towards infrastructural renewal and development will be enhanced. In particular, we will drive: Port Rehabilitation and Modernization

“We will pay attention to the logistics that surround the arrival of cargoes along the port corridor, their receipt at the terminals and loading onboard ships in the most efficient way and also cargo evacuation from our ports.

He listed other targets as follows:

* Deep sea Ports Development, in order to unlock the full potential of the economy;

 * Promotion of transparency, accountability and Ease of doing business in our ports;

   *We shall enhance collaboration and communication between sister agencies and promote stakeholder engagement.”

[TheNation]

A former Minister of Education, Oby Ezekwesili, has called for an independent audit of why the Nigerian National Petroleum Company Limited capped its investment in the Dangote Petroleum Refinery at 7.2 per cent instead of the planned 20 per cent.

This was as the Group Chief Executive Officer of the NNPC, Mele Kyari, denied owning a blending plant outside Nigeria on Tuesday.

The comments were coming amid the controversies surrounding the Dangote refinery.

Ezekwesili said she had earlier decided not to speak on the Dangote refinery-NNPC saga while reacting to the matter through her official X handle.

 “However, as more and more information filtered out from both parties, we can reasonably conclude that something seriously murky has gone on and needs to be fully unravelled for public accountability. And urgently, too,” she stated.

The former minister added, “How can a project that by all definition attained the stature of a ‘national interest project’ be marred in this depth of embarrassing controversy that is playing out in the full glare of the local and international investing community?

“Did the Nigerian government not tell us it borrowed $3.3bn from Afriexim-Bank to take a stake in the Dangote refinery?”

Ezekwesili recalled that during former President Olusegun Obasanjo’s administration, she used to tell the NNPC that it could not continue to run as a federation on its own.

“When we were in government, I often told the NNPC leadership that they cannot carry on as though there is a ‘Federal Republic of the NNPC’ just because they think of themselves as ‘the goose that lays the golden egg’.

“The opacity of the NNPC was the reason we took great delight in designing the multi-stakeholders Nigeria Extractive Industries Transparency International in those early 2000s that I pioneered as Chairperson.

“We went above global minimum voluntary standards of transparency requirements by entrenching ours in an Act that established NEITI as the transparency regulator of the oil and minerals sector,” she explained.

She called on President Bola Tinubu “to immediately use the instrumentality of NEITI to launch an independent audit of the Dangote refinery-NNPC transaction to offer the public the true state of play.”

The PUNCH recalls that the President of Dangote Group, Alhaji Aliko Dangote, recently revealed that NNPC’s investment in his refinery was 7.2 per cent and not 20 per cent, as speculated.

“The agreement was actually 20 per cent which we had with NNPC, and they did not pay the balance of the money up till last year; then we gave them another extension up till June (2024), and they said that they would remain where they have already paid, which is 7.2 per cent. So NNPC owns only 7.2 per cent, not 20 per cent.” Dangote stated.

NNPC confirmed this, saying it decided not to invest further in the refinery.

Kyari denies plant

Meanwhile, the NNPC’s boss said on Tuesday that he does not own a blending plant outside Nigeria, reacting to claims by Dangote that some officials of the national oil company own blending plants in Malta.

Amid the crisis surrounding his $20bn refinery, Dangote had said, “Some of the terminals, some of the NNPC people, and some traders have opened blending plants somewhere off Malta. We all know these areas. We know what they are doing.”

Reacting to this in a post on his X handle, Kyari said he had been inundated with calls from family members and friends, asking if he truly owns a blending plant in Malta.

The NNPC helmsman said he does not own or operate any business directly or by proxy anywhere in the world, except for a local mini-agric venture.

He also said he is not aware of any employee of the NNPC that owns or operates a blending plant in Malta or anywhere else in the world.

“I am inundated by enquiries from family members, friends, and associates on the public declaration by the President of Dangote Group that some NNPC workers have established a blending plant in Malta, thereby impeding procurements from local production of petroleum products.

“To clarify the allegations regarding the blending plant, I do not own or operate any business directly or by proxy anywhere in the world except for a local mini-agric venture, neither am I aware of any employee of the NNPC that owns or operates a blending plant in Malta or anywhere else in the world.

“A blending plant in Malta or any part of the world does not influence NNPC’s business operations and strategic actions.”

The NNPC boss threatened to sanction any official of the company involved in such acts if they truly existed.

“For further assurance, our compliance sanction grid shall apply to any NNPC employee who is established to be involved in doing so if availed, and I strongly recommend that such individuals be declared public and be made known to relevant government security agencies for necessary actions because of the grave implications for national energy security,” he stated.

Dangote has been speaking up following allegations by the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, that the diesel produced by the Dangote refinery had higher sulphur content than imported ones, a claim Dangote described as an attempt to demarket his refinery.

Ahmed had also said the country would continue to import fuel to stop the Dangote monopoly.

[Punch]

 President Bola Tinubu has pleaded with aggrieved Nigerians, especially youths planning a national protest over the high cost of living to shelve the action, saying there is no need for it.

The President also assured those behind the planned protest that he has heard their grievances and is working seriously to ensure that all their concerns are addressed.

Minister of Information and National Orientation, Mohammed Idris, conveyed the President’s plea while speaking with State House correspondents after he met with Tinubu at the Presidential Villa, Abuja.

The President’s assurance came as the face-off between Special Adviser to the President on Information and Strategy, Mr Bayou Onanuga; and the 2023 presidential candidate of the Labour Party, LP, Mr. Peter Obi, took a new twist, yesterday.

Obi’s lawyers, yesterday, wrote Onanuga, demanding N5 billion and an apology within 72 hours for accusing him and his supporters of high treason in allegedly being masterminds of the planned “EndBadGovernance protest.”

In like manner, former presidential aspirant and a chieftain of the LP, Professor Pat Utomi, challenged Onanuga to produce evidence of his involvement in the planned protest or face N500 billion litigation.

Tinubu’s assurance

The minister said that at the meeting with the President, general issues on the country were discussed and that the President said he is working assiduously to ensure the country’s economy is placed in a good position.

His words: ‘’We discussed the issue of the country in general and Mr President has asked me to again inform Nigerians that he listens to them, especially the young people that are trying to protest.

“Mr President said he listens to them and takes what they say seriously and he is working assiduously to ensure that this country is good not just for today, but also for the future.

“The issue of the planned protest, Mr President does not see any need for that, he asked them to shelve that plan and he has asked them to await the government’s response to all their pleas, he has listened to them.’’

Obi’s lawyers write Onanuga demand N5bn, apology

However, former Anambra State Governor, Mr. Peter Obi, has given Mr. Onanuga, 72 hours within which to pay N5billion as damages as well a public apology published in four national newspapers for defamation and libel or face legal action.

Obi demanded that Mr. Onanuga, retract his wild allegation linking him to the planned mass protest scheduled for August.

Recall that the Presidential spokesman had on July 20, 2024, claimed in his X handle @aonanuga1956 that: “ Peter Obi’s supporters are the people planning mayhem in Nigeria and that Obi should be held responsible for anarchy.”

Onanuga’s post was tagged, “Revealed: Peter Obi’s supporters are the people planning mayhem in Nigeria. Obi should be held responsible for anarchy.”

He claimed that individuals who hijacked the 2020 ENDSARS protests are behind the EndBadGovernance and Tinubu Must Go protest. He described the masterminds as anarchists and bad losers who cannot wait for for the 2027 elections but instead were seeking to destabilise Nigeria through a civilian coup, and asked that Obi be held responsible if the protest turned into anarchy.

Onanuga warned that the protesters’ call for revolution and ending an elected government amounted to high treason and called on security agencies to take action against those threatening Nigeria’s stability.

The post read in part: “Obi should be held responsible for anarchy. Don’t be fooled: the malcontents planning to stage nationwide protests are supporters of Peter Obi, the failed presidential candidate of the Labour Party. And he should be held responsible for whatever crisis emanates from the action.

“The protest planners are also the same people who were instigated by IPOB leader Nnamdi Kanu to launch the destructive #EndSARS protest in Nigeria in October 2020.

“#EndSARS began as a genuine protest by youths against the Police Special Anti-Robbery Squad, notorious for its high-handedness.

“IPOB members planning to extricate the South East region from Nigeria infiltrated the protest and hijacked it for their agenda.

“Lagos still bears the scars of the malicious destruction by IPOB elements until today. Two years after #EndSARS, the IPOB and gullible innocents joined the Labour Party in 2022 to support Peter Obi, a sympathiser of their cause. They are the people spreading the hashtags ‘EndBadGovernance’, ‘Tinubu Must Go,’ and ‘Revolution2024.’

“They are not democrats but anarchists. They are attempting to call out our people via propaganda because their Messiah, Peter Obi, failed to win the Presidency in the 2023 election.

“As bad losers, they don’t have the patience to wait for another election in 2027; they would rather destabilise Nigeria by staging a civilian coup against President Bola Ahmed Tinubu.

“If they understand the meaning of their hashtags, they will realise they are clarion calls for treason. Wanting to end an elected government is high treason.

“Wanting revolution is a call for a coup d’etat, which is also high treason. I have been on the trail of one of the protest planners, who is nameless but claims to have an internet radio station, PTM100.88 Abuja.”

The post elicited immediate response from the Labour Party and Obi’s Media office. While LP denied involvement saying the party, its supporters and Obi were not planning any protest, Obi’s Media Office, said the Presidency’s allegation was a ploy to arrest Obi.

Legal action

Going further, yesterday, Obi, writing through his counsel, Chief Alex Ejesieme, SAN of the Madiba Chambers, said that the allegation which was widely published in social and mainstream media and read by many within and outside the country, maligned his hard-earned reputation as a man, who indulges in violence when all his antecedents are vivid that he abhors violence even in the face of extreme provocation.

The legal counsel wrote: “It’s our client’s conviction that the publication was a calculated plot to demean, ridicule, humiliate and embarrass him by the estimation of every right-thinking member of the society.”

The letter further stated that the allegation may have achieved its insipid motive as well-wishers from all around the globe have inundated Obi to register their shock.

“His appellation as ‘Okwute’ (the Rock) notwithstanding, the demeaning and scandalous publication has also caused a serious emotional injury to our client, given his decades of stellar stewardship in private and public life.

“Consequently, we have our client’s mandate to demand that you retract the statement made in the publication and tender an unreserved apology to him within 72 hours of the receipt of this letter in not less than four national Dailies to wit: Vanguard, THISDAY, Punch and The Cable, including your verified X”@aonanuga1956.

“Our client is also making an unequivocal demand for the monetary damage of N5b for the embarrassment your defamatory publication has caused him and his family.”

The letter further read: “In the event of your failure to meet the demands set out above, our client shall be constrained to approach a court of competent jurisdiction and take legal action against you for defamation and libel.”

Utomi vows to sue Onanuga for N500bn if…

Also, renowned political economist, Prof. Pat Utomi, who denied involvement in the planned protest, vowed to sue Onanuga.

Reacting in a statement he personally signed, Utomi advised Onanuga to withdraw his statement or provide evidence of his claims.

He warned that he would sue Onanuga and claim N500bn if he failed to provide sophisticated evidence.

“If no evidence of Mr. Onanuga’s false assertion is shown I will assume it reasonable that the object is to water the ground for false treasonable felony charges that can result in the claim of one’s life. I intend to therefore proceed to the international criminal and other human rights courts if a reasonable explanation is not forthcoming.

“I will also have no choice but to institute a claim of N500 Billon for fake news, hate speech and intent to procure state murder of an innocent citizen. If judicial capture makes justice problematic in Nigeria I expect that I can trust extra-national institutions and global human solidarity.”

Onanuga’s evil incitement against Obi will fail —MASSOB

Meanwhile, the Movement for the Actualisation of the Sovereign State of Biafra, MASSOB, has frowned at Onanuga’s attack on Obi, saying that the incitement against Obi would come to nought.

The group advised Onanuga and the Federal Government to leave Obi alone and focus on how to save Nigerians who are starving to death.

“The heavy and massive incoming protest against hunger, high cost of living, government high corruption, impunity and government insensitivity against the welfare of the citizens is not planned or orchestrated by Mr. Peter Obi or his nationwide supporters.

“The Federal Government of Nigeria led Bola Tinubu knows that the protests are neither motivated nor influenced by Mr. Peter Obi but the Northern oligarchic leaders which includes some powerful Northern political, religious, opinion and traditional leaders.

“Mr Bayo Onanuga and Omokri are two leading internal and external figures waging wars of character assassination, blackmail and incitement against Mr. Peter Obi,” MASSOB said in a statement by its leader, Comrade Uchenna Madu.

Allegation against Obi, reckless —SERG

Also reacting, the South-East Revival Group, SERG, condemner Onanuga’s allegation against Obi.

In a statement by its National Secretary, Hon. Agu Chineme, the SERG said “this shameful position by a government that has chosen to spread falsehoods and lies about Peter Obi instead of finding ways to help hungry and suffering masses of Nigeria who are struggling to find their next meal amid insecurity, unemployment, and lack of access to adequate healthcare across the country is unacceptable.”

The frontline South-East socio-political pressure group urged the Federal Government not to politicize hunger and deprivation in the land.

It warned that “President Tinubu’s handlers could plunge the country into chaos with their reckless propaganda and desperation to continue the now nine years of blame games” of successive All Progressives Congress, APC administrations.

[Vanguard]

Michael Aondoakaa, former attorney-general of the federation (AGF) and minister of justice, has agreed to testify against Nigeria in the ongoing arbitration at the International Chamber of Commerce (ICC), Paris, France, TheCable understands.

Sunrise Power, a company promoted by Leno Adesanya, had, on October 10, 2017, started arbitration against Nigeria at the ICC seeking a $2.354 billion award for “breach of contract” in relation to a 2003 agreement to construct the 3,050MW plant in Mambilla, Taraba state, on a “build, operate and transfer” (BOT) basis.

The Nigerian government has maintained that Olu Agunloye, then minister of power, acted outside of his powers when he awarded his contract.

Nigeria is also alleging fraud and corruption in the award and in the subsequent settlement agreements reached in an attempt to settle the dispute.

Agunloye is currently on trial in Nigeria for his alleged role in the contract saga. He denies all allegations.

AONDOAKAA VS NIGERIA

Now, Aondoakaa, a senior lawyer who was AGF from July 2007 to February 2010, has been enlisted by Sunrise to argue that the contract was valid — in order to boost the company’s chances of winning in arbitration.

Aondoakaa was a member of the Federal Executive Council (FEC) under President Umaru Musa Yar’Adua when the ill-fated gas processing agreement was signed with P&ID, leading to and arbitration fine of over $11 billion fine on Nigeria which was eventually quashed in a British court.

An Aondoakaa associate told TheCable that the former minister of justice is working closely with Adesanya’s legal team in the arbitration and Nigerian matters.

Sunrise is hoping to use his testimony to counter that of the government officials, including some ministers in President Buhari’s cabinet who are testifying in favour of Nigeria.

Meanwhile, Adesanya has also filed a human rights case against the Economic and Financial Crimes Commission (EFCC) after he and Agunloye were charged to court.

Adesanya is being represented by Mohammed Seidu Diri, a senior lawyer who served as special assistant to Aondoakaa when he was AGF. Diri was also a director of public prosecution (DPP) at the federal ministry of justice.

A similar case filed by Agunloye against the government of Nigeria has since been dismissed.

DENIED BY TWO FORMER PRESIDENTS

Two former presidents have denied the validity of the contract and settlement agreements.

In an interview with TheCable, former President Olusegun Obasanjo challenged Agunloye to tell Nigerians where he derived the authority to award a $6 billion contract to Sunrise from.

“When I was president, no minister had the power to approve more than N25 million without express presidential consent. It was impossible for Agunloye to commit my government to a $6 billion project without my permission and I did not give him any permission,” Obasanjo told TheCable.

Agunloye later issued a statement insisting that he had Obasanjo’s approval — although it turned out it was a letter of comfort his principal approved to be issued to Sunrise and not a go-ahead to award the contract.

Buhari also denied authorising the settlement entered into with Sunrise by Abubakar Malami, his AGF.

“While I understood that my ministers of justice, power and water resources were approached by Sunrise and were engaging with various stakeholders that were involved in the project to resolve the issues blocking the project’s implementation, at no time did I specifically instruct them to enter into and conclude any settlement agreement with Sunrise Power and Transmission Company Limited,” Buhari wrote in a letter to Lafeef Fagbemi, the current AGF, in February this year.

“Indeed, when the proposed settlement agreement and addendum were presented to me for my consideration and approval on 20th April 2020, I refused to approve the settlement deal because I was convinced that there was no basis for Sunrise’s claim.”

Malami has yet to dispute Buhari’s claim.

Aliko Dangote deserves our collective support and official encouragement. I told him the day I visited his plant that he’s “an authentic African hero and a real icon”, and I meant that from the bottom of my heart. As an investor and businessman, he’s succeeded where our government has failed. He has built a huge business empire consisting of manufacturing, oil and gas, agriculture, fertiliser and petrochemicals and will earn more than Nigeria next year. For the 2025 FY, the Dangote Group is expecting to gross a total revenue of $30 billion, with the refinery contributing $19.5b; fertiliser, $2.5b; oil and gas, $1.5b and cement $6b.

Nigeria is projected to earn about $22 billion revenue from crude oil exports next year (Given the huge oil theft from the Niger Delta, the bulk of Nigeria’s oil production is currently coming from the deep-water terrains which are operating under the PSC fiscal regime. Therefore, with the projected 1.4mbpd, average crude oil price of $70 and a sharing ratio of 55% to Nigeria and 45% to the operators, the expected $22 billion revenue is inadequate for a country of over 200 million people. Nigeria is indeed a poor country).

The $30 billion inflow next year to DIL will undoubtedly have salutary impacts on our exchange rate. Is this why some people are bitter against the man? He has repeatedly stated that the oil mafia is more powerful and dangerous than the drug cartel. The Tinubu administration should therefore save the refinery from the mafia and protect it as a national asset.

Every educated adult Nigerian knows that our country is run on the basis of ethnicity, religion and partisan politics and is governed largely by incompetent fellows who are obsessed with pursuing self-interest. No matter how well-meaning a government official appears, he’s driven by an innate urge to promote his personal interests above the good of the people.

The relentless pursuit of self-interest and the absence of love for the country is at the root of our national problems. The recent statement credited to the chief executive of Nigerian Midstream and Downstream Regulatory Authority (NMDRA), Engr. Farouk Ahmed, typifies a good example of how personal interest trumps national development.

He spoke to the press recently and stated, to the shock of the nation, that Nigeria should never discontinue the importation of refined petroleum products even if the Dangote refinery has the capacity to satisfy domestic consumption because reliance on the refinery is “a threat to energy security”. Farouk also alleged that the diesel produced from the refinery is below standard in terms of sulphur content.

It is apposite that Dangote himself has categorically denied Ahmed’s allegations of producing substandard products and has assured that the sulphur content of his diesel has been falling steadily to meet the country’s requirements. The business guru went further to provide evidence that NMDRA had earlier certified its laboratories that have consistently tested his products.

There is no doubt that Engr Ahmed is driven by self-interest in audaciously pushing for continued importation of products, rather than supporting domestic production. A lot of NNPC and regulatory officials are making quick bucks from the importation of petroleum products and they do not want to let go. They’ve grown too rich in the corrupt and opaque oil importation and oil swap business; so much so that they don’t even want government-owned refineries to work.

They profit from endless turnaround maintenance programmes that produce no results, yet those comatose refineries have the full complement of workers receiving salaries and other emoluments year after year. Farouk is not bothered that the country has lost billions by exporting crude oil and continuously importing refined products. All that matters to these people is their bank accounts.

A regulatory authority that talks down on domestic producers and denigrates in-country production efforts in preference for continued importation is either incompetent or corrupt, or both. No matter how wobbly domestic producers are; or irrespective of the nascency of the level of domestic production, a regulator’s main objective should be to offer guidance, an enabling environment, incentives and encouragement to help the operators succeed.

That’s how Taiwan moved from being a producer of inferior goods to becoming a major producer of chips and semiconductors; Bangladesh moved from being the poverty capital of the world in the 1980s to being a major producer and exporter of clothing, even though the country has no single cotton field. Vietnam moved from being a producer of tennis shoes to becoming a major producer of computer chips. The chaebols of South Korea grew due to government’s support. I don’t even want to mention China!

Strong regulators help in growing the economy. The Central Bank of Nigeria, for example, will never get to the press and announce names of weak banks in the country, and threaten to close them down or invite foreign banks to take over. It is also the reason NAFDAC, SEC, NCAA or any other regulators do not make silly statements in the media, lampooning the operators in their industry. A good regulator works with the operators to meet minimum standards. They don’t create panic and embarrassment.

The national outrage that trailed Farouk Ahmed’s statements is a measure of how resentful Nigerians are of endless fuel importation, the endemic corruption in and around the NNPC, its subsidiaries and industry regulators. Their inability to revive our moribund state-owned refineries has made Nigeria the laughingstock of the world and the butt of all jokes at drinking pubs. I call on President Tinubu to sack Engr. Ahmed right away and save the country from his embarrassing indolence.

The Abuja Electricity Distribution Company (AEDC) has officially signed a Memorandum of Understanding (MOU) with Transafam Power yesterday, to implement a groundbreaking 50MW embedded power generation project for the Idu commercial hub in Abuja.

The MOU was executed by AEDC MD/CEO, Engr. Chijioke Okwuokenye, and MD/CEO, Transafam Power Limited, Engr. Vincent Ozoude, during the Summit on Accelerated Scale-Up of Renewable and Distributed Energy Resources in Nigeria, hosted by the Nigerian Electricity Regulatory Commission (NERC).

With this, AEDC will fulfill 82% of NERC’s requirements for embedded power generation, ensuring a reliable and consistent power supply for the Idu Cluster. It marks a pivotal advancement in AEDC’s transformation agenda, allowing the company to generate its own electricity and reduce reliance on the national grid. By diversifying its energy sources, AEDC is committed to providing stable and dependable electricity for all stakeholders involved.

In addition, the partnership enables Transafam, a leading power generating company and subsidiary of Nigeria’s largest listed conglomerate, Transcorp Group, to diversify its mode of generation providing on-grid and embedded generation to optimise its current generating capacity and serve a wider cluster.

Electricity is a critical sector in urgent need of transformation. This partnership represents a significant stride towards delivering reliable and sustainable power to Nigerians, enhancing the overall power landscape in Nigeria, and fostering growth and economic prosperity for all—a demonstration of Africapitalism.