Your deliverance shall be sudden, swift, dramatic and unprecedented. Your enemies will be shocked by how God will perfect and actualize your freedom. The chains and shackles are being broken now. The slavery is over! Their grip over you is being weakened. Are you not seeing it? God will shock them. They are in for a great surprise. By the time they wake up, you and your people are gone. Gone forever. Gone for good. These uncircumcised Egyptians will not keep you. Yes, they will not keep Israel forever. They hate you because you bear the mark of God. They hate you because God has blessed you. They hate you because you are industrious and progressive. They despise you because you are independent, godly, glorious, resilient and unstoppable. They hate your guts and feel they cannot compete with you. They are afraid that with such guts and grace you will overtake and rule over them. That was exactly the problem Israelites had with the Egyptians. Envy! They hate you because you serve the God of Israel and because you have a great destiny. They know that the hand of God is upon you and you are the chosen people. Yes, they know it and that is why they have ganged up to mistreat, subdue, intimidate and keep you in perpetual bondage. But God is saying today that their gathering will surely come to nothing. Yes, they have gathered, but it will be fruitless. It will be in vain. God is laughing at them. They will be shocked to their marrow soon. Listen, God said that with a strong hand he will bring his children from the Egyptian bondage. And it is not just bring you out, you will leave with great wealth – silver and gold. That is his word!

  When God told Pharaoh to let his people go he refused. He kept playing games, playing god and defying the divine instructions. In fact, at a time he even had the audacity to query the existence and the authority of the Almighty. I believe that there is something that comes upon rulers that makes them arrogant and selfish even when they know they are self-destructing. Just listen to him, “Who is that your God that I will let Israel go? I do not know him and I will not let the people go!” My God! Did you hear that? Pride and arrogance! When these sons of devil occupy earthy positions or possessions, it gets into their head that they immediately forget that there is a creator of heavens and earth, the beginning and the end, the alpha and the omega, the glory of Israel, the I am that I am, the God of the Hebrews, the Almighty God, the everlasting father, the throne of no disappointment, he that owns life and death. Now, does this resemble what you and your people are going through today? God will also deflate that over-bloating ego of this Pharaoh. Yes, it will happen sooner than you think. And it will come in a very humbling and humiliating manner. We have seen it before and it will happen again. Listen to what he is saying, “But I know that the king of Egypt will not let you go except under heavy pressure. So I will reach out and strike at the heart of Egypt with all kinds of miracles. Then at last he will let you go.” And further, “Now you will see what I will do to Pharaoh,” the Lord told Moses. “When he feels my powerful hand upon him, he will let the people go. In fact, he will be so anxious to get rid of them that he will force them to leave his land.” Exodus 3:19-20, 6:1.

  Did you read that? Under pressure this uncircumcised, wicked, heartless, despotic ruler will beg you to go. Yes, God said that he will mount heavy pressure on this particular Satanic unrepentant, doomed Pharaoh, this enemy and he will also crumble like his demonic predecessors. Divine pressure! It can come from any angle and in any form. Nobody, no group, no devils, no gang up can enslave the people of God. Nobody can destroy divine plans and purposes. You will be kicking against the stone. If those before him failed, he will also fail.  If those before them were disgraced, these will also go in shame. And if those before them perished these will also perish. The wicked will not go unpunished. But he still has options now. He can repent and avert the impeding divine judgment and pressure. Or he can allow the Israelites to move out of Egypt peacefully.  When Pharaoh insisted that the Israelites must languish under his biting wickedness and bondage, God inflicted his land with plagues - economic, health, environmental, social and spiritual crises. And when that was not enough God perished the boastful and arrogant king, all his commanders and advisers in the Red Sea. The Navy will call it burry at sea. It is a military practice. All those acting as Pharaohs, as gods now to you and to your people are coming under heavy divine pressure! The word of God said that the Egyptians [including these ones presently harassing you] are not God, but men. Share this message with others. God bless!

Rev Gabriel Agbo is the author of the books / audiobooks: Power of Midnight Prayer, Receive Your Healing, Breaking Generational Curses: Claiming Your Freedom, Never Again!, I Shall Not Die, Move Forward, Power of Sacrifice and many

Fifty-eight of the 164 member states of the World Trade Organisation (WTO) members have voiced support for a proposal from the African Group backing incumbent Director General, Ngozi Okonjo-Iweala, to serve a second term.

The 58 member countries of the trade association made this known at a July 22 meeting of the WTO General Council, according to a statement by the world trade body.

“The African Group requests that the current Director-General make herself available to serve a second term, and has proposed that the process of reappointing the Director-General should be started as soon as possible,” the statement partly read.

“Fifty-eight members, several speaking on behalf of groups of members, took the floor to comment and express their support for the African Group proposal. They called on DG Okonjo-Iweala to make her intentions regarding a second term known as soon as possible. Most of these members praised the DG’s hard work and her achievements during her first term.

Okonjo-Iweala, 70, said she was very grateful for the support from members. “Everything that I’ve accomplished, we’ve accomplished together,” she said.

The director general said that she took the call of members very seriously and was favourably inclined. She said she would get back to members very soon regarding her intentions.

Okonjo-Iweala, the seventh WTO boss, took office on March 1, 2021 for a single term of four years which will expire on August 31, 2025. She is eligible for a second term.

The former Nigerian Finance Minister navigated stiff opposition to become the first woman and the first African to serve as WTO Director-General. Before her current appointment, she twice served as Nigeria’s Finance Minister from 2003 to 2006 and from 2011 to 2015. She also briefly acted as Foreign Minister in 2006, the first woman to hold both positions.

The skilled negotiator had a 25-year career at the World Bank as a development economist, rising to the number two position of Managing Director, Operations.

[Channels TV]

Dr. Olisa Agbakoba has explained how the federal government’s proposed 50% windfall tax will negatively impact bank operations and its customers in Nigeria.

Dr. Agbakoba is the Senior Partner and Head of the Alternative Dispute Resolution (ADR) and Arbitration practice group at Olisa Agbakoba Legal (OAL), with expertise in Maritime and Blue Economy Law, Space Law, Environmental, Social and Governance (ESG) Law, Environmental Justice Law, Human Rights Law, among many others.

In an exclusive interview with Nairametrics, Agbakoba sheds light on how the proposed amendment to the Finance Act is ill-thought-out.

What’s your take on the federal government’s plan to tax banks 50% of profits realized from foreign exchange revaluation in 2023 through the proposed amended Finance Act?

So, I completely understand why the government is passing financial legislation because the government really needs revenue to drive its development agenda and to meet all the various expenses that it faces.

But I think the government ought to also understand that there are parameters that are very important to employ to gain not only the confidence of Nigerians but particularly the financial community.

The financial community is a lifeline and the oxygen of the Nigerian economy, and to create a policy that will be contrary to the interests of the financial community might be very precarious and could even backfire.

So, in that context, I would say that the proposed amendment to the Finance Act is completely ill-thought-out legislation.

There are different types of legislation. This particular legislation is known as penal legislation. You will observe that Section 33 of the intended amendment criminalizes failure to comply.

In Guardian Motors vs. the Attorney-General of the Federation, pursuant to a decree made by General Babangida, the Supreme Court laid out the principles under which legislation can be properly made.

I think this is one legislation that is beyond the scope of the National Assembly to enact. The National Assembly has no power to enact legislation that imposes penal sanctions on commercial transactions.

What does this proposed Finance Act imply for customers of Nigerian banks?

The first thing that will happen is that customers will bear the burden of the so-called windfall legislation.

Again, windfall legislation is generally seen as unacceptable to the commercial community. Even in the UK, where there was a proposal to pass windfall legislation in respect of oil profits that Shell and other oil companies were said to be making, there was an uproar.

When you pass windfall legislation taking 50% of somebody else’s earnings, that person will immediately transfer it to those closest to them.

It is obvious that those closest are Nigerians whose money is actually deposited.

So, the issue here is the realized profits. The law states that realized profits will be liable to windfall tax.

If banks make realized profits on accounts, they are likely to find ways to recover the windfall tax because the magnitude proposed by the federal government, 50%, is so huge that they will seek ways to recover it.

There’s no question about that.

If the purpose is to create wealth that the government can use to fund its services, there’s a likelihood that it could lead to inflation. It could be inflationary. It could exacerbate the very problem that the government thinks it is solving.

So, I would honestly urge the government to do two things: first, withdraw the legislation and consider other easier ways to generate revenue. I’ve discussed this several times.

The government can easily generate a lot of revenue without this unnecessary difficulty. One area where the government can generate revenue is the oil and gas sector. A lot of revenue can be generated simply by taking control of the country’s oil and gas resources.

I hope you are aware that Nigeria’s oil and gas resources have been handed over to the International Oil Companies (IOCs). Even Aliko Dangote is complaining.

Dangote is unable, despite having the world’s largest refinery in Lagos, to obtain crude because it is not in the interest of the IOCs to allow him access to crude.

The IOCs prefer the situation where they export crude and we import refined products. Therefore, it is not in their interest to change that. If the government were to stop this and address all the leakages in the oil and gas sector, they would make more money than what the so-called windfall legislation would bring.

And there are several other ways that the government can generate revenue in the maritime industry.

I have said time and again that a proactive government that understands how to generate revenue for Nigeria can easily generate N100 trillion.

So what is the purpose of this? It is ill-thought-out and I would urge them to really consider the negative impact it would have on the Nigerian economy.

The presidency believes the proposed windfall tax will help his government bring more infrastructural development to Nigeria. What do you think?

How? There are no details. They’re just saying it. How? That’s the question. The question I would ask is how? I mean, in principle, tax legislation will bring money into the government’s coffers, but you have to carefully examine the nature of the tax legislation.

Firstly, I’ve told you that windfall taxes tend to be viewed negatively by those on whom they are imposed. So when you impose a windfall tax on someone, they look for ways to pass it on to someone else. That’s number one. So, banks are likely to pass on the windfall tax, of 50% of their profits, to us as consumers. That’s one issue.

Secondly, assuming the windfall tax brings in N10 trillion, for example, there is nothing to suggest that because you have extra income, you will not have extra expenses higher interest rates or increased inflation.

So it’s not enough for the government to say, “We’re going to get more money from this.” If you get more money but the price of rice doubles, does that make sense?

So, I’m not sure how well thought out this legislation has been. Is it really going to be progressive legislation that benefits Nigerians in all aspects? Or is it just a case of the government saying, “We’re going to get money”? It’s not enough to say, “I’m going to get money.”

You have to look at the impact of that money. Is it going to be beneficial? In my view, this law won’t be beneficial because it will have all kinds of implications and it will probably be challenged on the grounds of unconstitutionality anyway.
[Nairametrics]

President Bola Tinubu, on Tuesday, forwarded the Police Act Amendment Bill to the House of Representatives, seeking to amend the tenure of the Inspector General of Police (IGP).

The proposed amendment addresses the contentious issue surrounding the retirement age and tenure of the IGP.

The current IGP, Kayode Egbetokun, appointed in June 2023 for a four-year term, is at the centre of this legislative adjustment.

Earlier in July, the Nigeria Police Force had refuted claims that IGP Egbetokun attempted to lobby the National Assembly for a bill to extend the retirement age of officers.

According to Section 18(8) of the Police Act 2020, Egbetokun, born on September 4, 1964, is mandated to retire in September 2024 when he turns 60, which would cut short his tenure to just one year and three months out of the four-year term.

This issue isn’t new and has also surrounded Egbetokun’s predecessor, Usman Baba, who continued in office beyond his retirement age.

Baba reached the mandatory retirement age of 60 in March 2023 but remained IGP until his replacement by Egbetokun.

The bill, if passed, is expected to provide clarity and stability in the leadership of the Nigerian police force, ensuring that the IGP can serve the full term as appointed without abrupt retirement due to age constraints.

[NaijaNews]

The Inspector General of Police, Kayode Egbetokun, stated on Tuesday that the proposed nationwide protest was ill-advised, urging the citizens to abandon the plan.

His comment was in response to social media campaigns mobilising for a nationwide protest slated for August 1 due to the economic hardship in the country.

Speaking during a meeting with commissioners of police in Abuja, Egbetokun noted that the country has its fair share of violent protests with dastardly consequences.

The IG added that the last #EndSARS protest aggravated crime rates and insecurity in several parts

He said, “Before concluding this address, it is important I address an issue of urgent national importance which appears to have gained some momentum, particularly on social media, in the past few weeks. Some groups of people, self-appointed crusaders and influencers, have been strategising and mobilizing potential protesters to unleash terror in the land under the guise of replicating the recent Kenya protests.

“While the force acknowledges the right to peaceful protest as enshrined in our constitution, we must ensure that these protests do not snowball into violence or disorder. As a nation, we have had more than our fair share of violent protests, with rather dastardly consequences. The last #EndSars protest led to one-tenth destruction of public assets, including police stations, courts, and transport infrastructure, and the loss of several lives.

“Tales of sorrow, tears, and blood followed what was supposedly intended to be a well-intentioned exercise. Rather than lead to any positive outcome, EndSars merely aggravated crime rates and insecurity in several parts of the country. Indeed, we are yet to fully recover from the huge economic losses and deep-seated psychological and emotional trauma inflicted upon our people by these protests.”

He, urged the citizens to jettison the proposed protest, adding that the police have the responsibility to protect citizens and their properties.

Egbetokun said, “Hence, our position is that the proposed violent protests are ill-advised and should be jettisoned fortuitously. We have the responsibility to protect properties and everyone, irrespective of their race, colour, ethnicity, or tribe, who are lawfully embarking on their daily activities. We will therefore not sit back and fold our arms to watch violent activities unleash violence on our peaceful communities or destroy any of our national critical infrastructure and assets again.”

Egbetokun stated that measures are in place to ensure that any hoodlums attempting to disguise themselves as protesters will be apprehended.

He said, “We have mapped out plans to ensure that no individual or group succeeds in fostering a reign of terror and anarchy on other law-abiding and dissolving Nigerians. Consequently, I want to seize this opportunity to sound the note of serious warning to hoodlums who may want to take laws into their own hands in the name of protests. Do not worry.”

[Punch]

CEO of Tesla and SpaceX, Elon Musk has shared a deeply personal experience involving his child’s gender transition, revealing that he felt “tricked” into consenting to puberty blockers.

In a candid interview with psychologist Jordan Peterson, Musk expressed his concerns about the treatment’s long-term effects and the motivations behind its recommendation.

He described the experience as “incredibly evil” and claimed that he “lost” his son, Xavier, now known as Vivian Jenna Wilson, to the “woke mind virus.”

Musk stated: “It’s evil. You’re taking kids who are far below the age of consent.

“It’s very possible for adults to manipulate children who are having an actual identity crisis into believing that they are the wrong gender.”

Musk disclosed: “Well, it happened to one of my older boys. I was essentially tricked into signing documents for one of my older boys, Xavier. This was really before I had any understanding of what was going on, and we had COVID going on, so there was a lot of confusion. And I was told Xavier might commit suicide.”

Peterson, challenging the notion, said: “That was a lie right from the outset. No reliable clinician ever believed that.

“There was never any evidence for that, and also, if there is a higher suicide rate, the reason is the underlying depression and anxiety and not because of the gender dysphoria. And every good clinician knows that, too, and they’re too cowardly to come out and say it.”

Musk added: “It’s incredibly evil. And I agree with you that the people that are promoting this should go to prison.

“I was tricked into doing this. It wasn’t explained to me that puberty blockers are actually just sterilization drugs.

“I lost my son, essentially. They call it ‘deadnaming’ for a reason. The reason they call it ‘deadnaming’ is because your son is dead, so my son, Xavier, is dead, killed by ‘the woke mind’ virus.”

“So I vowed to destroy ‘the woke mind’ virus after that. And we’re making some progress.”

This revelation comes as Musk announced plans to relocate his company’s headquarters from California to Texas, citing the state’s new legislation on gender identity and parental rights as the final straw.

“This is the final straw. Because of this law and the many others that preceded it, attacking both families and companies, SpaceX will now move its HQ from Hawthorne, California, to Starbase, Texas,” Musk wrote on X.

Daily Mail reports that Vivian Musk, formerly known as Xavier, publicly announced her transgender identity in June 2022, at the age of 18.

At the same time, she petitioned to legally change her name to Vivian and adopt her mother’s surname.

“I no longer want to be related to my biological father in any way, shape or form,” Vivian said.

[TheNation]

Reduces the time for Periodic Review of Minimum Wage from 5 to 3 years

THE Senate has passed a bill that seeks to amend the National Minimum Wage Act, 2019, to increase the National Minimum Wage from N30,000  upward to the sum of N70,000.

Also passed by the Senate on Tuesday is a bill, inter alia that seeks to reduce the time for periodic review of the National Minimum Wage from Five (5) years to Three (3) years, and for Related Matters. 

A  Bill for an Act to Amend the National Minimum Wage Act, 2019 to increase the National Minimum Wage and reduce the time for periodic review of the national minimum wage from five years to three years and for related matters, 2024, 2024 (SB. 550) was presented by the Senate Leader, Senator Opeyemi Bamidele, APC, Ekiti Central. 

The Executive bill forwarded to the Senate by President Bola Tinubu was first presented for the first reading, then scaled second reading and was read the third time and passed.

In his lead debate on the general principles of the bill, Senator Bamidele said, “Mr. President, Distinguished colleagues, I humbly rise to lead the debate on the general principles of the National Minimum Wage (Amendment) Bill, 2024 (SB. 550). The Bill, inter alia seeks to amend the National Minimum Wage Act, 2019, to increase the National Minimum Wage and reduce the time for periodic review of the National Minimum Wage from Five (5) years to Three (3) years, and for Related Matters. 

“The Bill was read for the First Time today, 23rd  July, 2024. 

“You will recall, Mr. President, my dear Colleagues, that in recent times, a plethora of agitations and clamours have been recorded from Organised Labour and another segment of our society, for an increase in the National Minimum Wage given the prevailing economic situation in the country. In response to the agitations and after a series of negotiations between the Federal Government and the Organised Labour, the current National Minimum Wage of N30,000 Naira only has been reviewed upward to the sum of N70,000 Naira only. 

Details later…

[Vanguard]

The monetary policy committee of the Central Bank of Nigeria (CBN) has raised the monetary policy rate (MPR), which benchmarks interest rates, to 27.65 percent — from 26.25 percent

Olayemi Cardoso, governor of the apex bank, announced the rate adjustment on Tuesday at the end of the committee’s 296th meeting in Abuja.

Last week, Nigeria’s inflation rate rose to 34.19 percent amid the surge in food prices.

The MPR is the baseline interest rate in an economy, every other interest rate used within the economy is built on it.

More to follow…

[TheCable]

The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Engr. Mele Kyari, has categorically denied that the oil company owned a blending plant in Malta.

The refuttal came in response to claims made by businessman Aliko Dangote that NNPCL officials were operating an oil facility on the Mediterranean Island.

LEADERSHIP reports that Dangote, while addressing the leadership of the House of Representatives on July 22, claimed that apart from NNPC personnel, oil traders and terminals have established a blending plant in Malta. An oil blending plant, unlike a refinery, blends re-refined oil with additives to produce finished lubricant products.

But, the NNPCL boss took to his X handle (formerly Twitter) on Tuesday to debunk the claims. 

Kyari wrote: “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, with the exception of a local mini agric venture. Neither am I aware of any employee of the NNPC who owns or operates a blending plant in Malta or anywhere else in the world.”

He further asserted that such a plant in Malta or anywhere globally has no influence over NNPC’s business operations and strategic actions. “A blending plant in Malta or any part of the world has no influence over NNPC’s business operations and strategic actions,” he added.

Kyari also underscored the company’s commitment to compliance and accountability. “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 in view of the grave implications for national energy security,” he concluded.

[Leadership]

The President of the African Development Bank Group (AfDB), Akinwumi Adesina, says Nigerian government will be the loser in the wake of criticism targeted at Alhaji Aliko Dangote and his refinery.

He noted that such criticism would discourage foreign investors from coming to the country.

There has been a disagreement between Dangote and Nigerian National Petroleum Company Limited (NNPCL) as well as Nigerian petroleum regulatory authorities over the alleged substandard quality of diesel produced by Dangote Refinery, among other issues.

Adesina, who dismissed claims of Dangote’s monopoly of the country’s manufacturing sector, expressed shock at the controversy, saying it was creating bad waves for Nigeria globally.

Adesina’s remarks are contained in a statement shared on X by business mogul Femi Otedola on Tuesday.

The statement read in part, “Monopoly often exists where there are high barriers to entry or high capital costs. How many individuals or companies can do railways? How many can do refineries of the scale of Dangote Refineries? In a nation that has been importing refined petroleum products for several decades, the abnormal simply became very normal.

“No smart investor would make a $19.5 billion investment and want it to be undermined by importers. To manufacture is extremely expensive and risky. This is even more so in Nigeria, given the very challenging business and economic environment, fraught with policy uncertainties and policy reversals, and where the self-defeating default mode of ‘simply import it’ is always so easily rationalized and chorused to solve any problem.

“…This whole disparaging of Dangote is uncalled for. It is self-defeating. And it is very bad for Nigeria. Who will want to come and invest in a country that disparages and undermines its own largest investor? Investing is tough. Pettiness is easy. It sadly sends a signal that the price for sacrificing for Nigeria is to get sacrificed.”

[DailyTrust]