AS the Nigerian National Petroleum Company, NNPC Limited, moves to end petrol scarcity in Lagos and its environs, Dangote Refinery and oil marketers have intensified efforts at taking final decisions on pricing and delivery of petrol to filling stations nationwide.
Dangote Refinery, which can refine 650,000 barrels per day, bpd of crude oil, intends to commence production and distribution of the product, the bulk of which is currently imported from the global market, in May 2024.
A Checks by our currspondent, weekend, indicated that the parties have been meeting and exchanging notes on the pricing, distribution and margins to stakeholders in the value chain, including transporters and insurers.
Recall that depot owners buy the product from NNPC Limited at N556 per litre and sell to independents at N640 per litre.
It was, however learnt that independent markers have proposed N550 per litre to management of Dangote Refinery who is currently in a discussion with them.
The President of Independent Petroleum Marketers Association of Nigeria, IPMAN, Alhaji Abubakar Migandi Garima, who confirmed the development yesterday, said: “We have been discussing with Dangote Refinery. The discussion, centering on pricing, margins and other issues, is still ongoing.
“We have proposed that the lifting price should be N550 per litre in Lagos. The price of the product will differ from one part of Nigeria to another because of distance and cost of delivering petrol to different locations.
“We are currently waiting on Dangote Refinery to conclude and communicate the price per litre, so we can plan to lift the product when it comes on stream.
‘’We expect that the price of the locally refined petrol would be cheaper than imported petrol, due mainly to local availability of the bulk of its crude oil and removal of transportation cost.”
The Kaduna State Police Command has arrested a nine-man gang of suspected ritualists under the name of ‘Neo Black Movement, NBM, with one full jerry can of human blood.
The suspected ritualists were arrested at a Cemetery in Dutsen Abba Ward along the Zaria -Kaduna expressway.
ASP Mansur Hussaini, Public Relations Officer of the Command, confirmed the arrest on Sunday.
Hussaini said their arrest followed a tip-off after a source drew the attention of the service formation that some group of people were sighted at the said cemetery, which in turn Saye Lowcost Division was alerted.
He added that those arrested for alleged involvement in ritual activities are, Samson Ezekiel (32), Samuel Francis (27), Usman Nura (34), Gabriel Sheba (23), Haruna Sa’id (37), Bala Lukman (27) and Jabir Rilwan (37).
The PPRO explained, “A search was conducted on their vehicle, a Lexus sedan, with registration number RSH 712 CW, where two locally made pistols, one Beretta pistol, two jacket knives, two calabashes and a jerrycan, full of human blood were recovered.”
He said the suspected ritualists, comprising the new and old members, were apprehended while initiating the new members, saying the gang confessed to getting the human blood after slaughtering an aged man and disposing of his body along the Jaji military cantonment, in neighbouring Igabi Local Government Area.
The suspects also confessed that the man’s vital body parts were dismembered but were taken away by another gang which came from Kaduna.
Following the arrest of the seven suspected ritualists along the Zaria -Kaduna expressway, he said that two other suspects were apprehended by the locals, at ABU Congo Conference Hotels, along old Jos road, stressing that they are Austin Ifinju from Ondo State, aged 28 and Yoruba by tribe and Aliyu Ali Yahaya, resident of Hadu Nasko road Abuja, aged 24. Agatu by tribe and a student of ABU Samaru.
ASP Mansur Hussaini, Public Relations Officer of the Command confirmed the arrest, explaining that investigations are ongoing.
A convicted kidnap, Hamisu Bala, better known as Wadume, on Sunday, received a heroic welcome at his hometown of Ibbi in Taraba State after serving his jail term for kidnapping.
Naija News gathered that a large crowd of women and children trooped out to welcome the convicted kidnapper back to his hometown after he was released from Kuje Prison in Abuja, on Friday.
Sources told Daily Trust that Wadume had concluded his jail sentence which ran concurrently and was ferried into Ibbi through river Benue, where he was received by thousands of people, including youths and women.
After arriving in the town, Wadumi visited the Chief of Ibbi chiefdom, Alhaji Salihu Danbawuro, at his palace.
Wadume told the chief that he was at the palace to thank him and the entire people of his chiefdom.
He said through out his trial, the chief and his subjects stood firmly with him and prayed for his safety and good health while in prison.
The chief, Saliha Danbawuro, told Wadume that he and his subjects were happy that he is out of prison.
“I and the entire people of Ibbi chiefdom are happy that Hamisu Wadume is now back in Ibbi his home town.” the chief said.
Recall Wadume was arrested by men of the Intelligence Response Team (IRT) of the Inspector-General of Police, in 2019, led by the now-suspended Deputy Commissioner of Police, Abba Kyari,
During the attempt to arrest him in 2019 by the IRT over alleged kidnapping, he had enlisted the help of a Captain of the Nigerian Army, who aided his escape from Police custody when the van of the IRT was stopped at a military checkpoint by gunfire and labelled as kidnappers instead, who had attempted at kidnapping Wadume.
Residents of Ibbi town consequently pounced on the Policemen for daring to kidnap their ‘saviour’, killing about three of the elite Policemen, a development that attracted national attention to the ugly incident.
Wadume then went into hiding there for days before the IRT team smoked him out from his hideout in the Kano metropolis of Kano State.
Adejumoke Aderounmu, a popular actress in the series Jenifer Diary is dead
Tragically, the Nigerian film industry mourns the loss of Aderounmu Adejumoke Oreoluwa, a beloved actress renowned for her portrayal of “Esther” in the popular series “Jenifer Diary.”
On April 6th, 2024, at the age of 40, she departed this world, leaving behind a legacy cherished by many.
The somber news of her passing swiftly spread, accompanied by circulating graphics detailing her impending burial arrangements.
Despite the widespread grief, the cause of Aderounmu Adejumoke’s untimely demise remains undisclosed at the moment
In the fast-paced and ferociously competitive airline sector, price wars have become like Siamese twins that can not be separated by the actors, as a surviving strategy.
While price wars are a common occurrence in the airline sector, they represent intense competition that sees airlines cut prices in an attempt to snatch passengers from their competitors. The subsequent implication may automatically trigger reduced margins and profitability. To thrive amid these price wars, airlines need strategy and competitive intelligence, specifically competitive flight price data to survive.
This is what is presently playing out in Nigeria’s air transport sector with focus on international flights since Air Peace, a Nigerian carrier, commenced flights to London Gatwick on March 30, 2024.
Prior to the entrance of Air Peace to the Lagos/London route, foreign carriers had, for many years, not only monopolized the lucrative route, but exploited the Nigerian travelers who were made to pay the costliest fares in the region while neighboring countries like Ghana, Togo and Benin Republic enjoyed very low fares.
The exorbitant fares by the foreign carriers reached its peak following the over $800 million of their proceeds trapped in Nigeria with the mega carriers withdrawing their lowest inventory fares, leaving the highest inventory fares for Nigerians to grapple with.
The withdrawal of low inventory fares by the foreign carriers saw airlines like Virgin Atlantic increase fares on the economy class to N2.353,200 for just a seat while the business class skyrocketed to N5,345,700 on the Lagos-London route.
For Turkish airlines, the economy class ticket for the Lagos-Istanbul route rose to N874,661 while the business class ticket jumped to N1,980,876.
This was the same situation Nigerian travellers experienced with other foreign carriers like British Airways, Delta Air Lines, Lufthansa, KLM/Air France, Air Maroc and Ethiopian Airlines.
Before the foreign carriers ganged up to increase their fares, economy class tickets on the Nigeria-UK route was between N400,000 and N650,000, depending on the booking period while business class was between N800,000 and N1.2 million.
The financial pressure the exorbitant fares inflicted on the Nigerian travelers became so unbearable that those who could not afford it were forced to suspend international trips while some like students shifted their patronage to the neighboring countries where low inventory fares were available.
The rip off continued even after the federal government had paid the substantial part of the trapped funds with the outstanding funds now put around $29 million.
Relief however came with the commencement of Air Peace flights to London.
Immediately Air Peace announced its fares which have been found cheaper and more affordable for Nigerians, the foreign carriers, out of fears of losing their Nigerian, passengers to Air Peace have engaged in price wars for survival.
According to investigations, majority of the foreign carriers operating on the Nigeria/London route have conspired to drastically slash fares to the point of charging fares lower than Air Peace fares.
Apart from introducing new incentives and more friendly marketing strategies, the foreign airlines are neck deep in dangerous battles for market share that is capable of sending weaker airlines out of business and equally wreak havoc on profit margins or even challenge the very survival of Air Peace.
A price list sighted by Saturday Tribune showed Air France luring passengers to book between May 15 and June for economy class seat on the Lagos/London route with N907,782 fares as against the over N2 million for the economy it charged before now.
British Airways has also slashed its fares on the Abuja/London Heathrow to N1,394,536 as against the over N3 million it was formerly charging. Now, an economy class ticket on Virgin Atlantic from Lagos to London has been brought down to N980, 654,000 as against the N2.353,200 it used to charge.
The ongoing price wars and other gang ups by the foreign carriers which has raised concerns amongst key players have been attributed to the desperation of the mega carriers to push out Air Peace out of the Lagos/London route.
The price war strategy adopted by the foreign airlines has been described as one of the unjust engagement of the use of international Aero politics to frustrate any African carrier they see as competitive like Air Peace.
Many of the foreign carriers are said to be uncomfortable with the presence of Air Peace in view of its capacity in the areas of modern day aircraft in its fleet that can compete favourably with those of the foreign carriers.
The global record of the Nigerian carrier as a carrier that had in the past engaged in flight operations between Nigeria and other countries like China, UAE, Israel Brazil and South Africa during the pandemic seamlessly may have caused sleepless nights for the foreign carriers.
Many key players while reacting to the foreign airlines price wars described the market as extremely agile and impatient. They advised Air Peace to urgently change its game plan by making “the world taste what it means to be a truly Nigerian brand. You could see the presence of intentionality in their campaigns. It shows a clear understanding of the market. They are unleashing on Air Peace products of insights derived from the algorithm in their passengers platforms. They know where these customers are, they have their details, they may even be engaging passengers directly.”
The sudden reduction in the fares the key players said will be for the benefit of the Nigerian travelers who are the brides. They, however, expressed surprise at how the foreign airlines that refused to reduce their fares ab initio suddenly slashed the fares just to get at Air Peace.
Nollywood actress and producer, Ruth Kadiri has issued a stern warning to her colleagues to desist from using her artiste in their movies.
The filmmaker, renowned for her exquisite production and distribution of movies on YouTube, via her Instagram story, stated that they should either grow their channel organically or groom their own artists.
She said:
The first quarter of 2024 saw a swift rise on the Nigerian stock exchange, with the All-Share Index reaching a laudable 104,562.06 points, marking a major increase of 39.84%.
During this period, NGX trading capital volume also experienced a substantial uptick, rising by 44.5% to close at N59.13 trillion by the quarter’s end. This surge reflects a notable N18.21 trillion increase from the initial N40.92 trillion at the beginning of 2024.
Driving this market performance were the outstanding results of individual stocks. Behind these successful companies are visionary Chief Executive Officers who navigate the challenges and steer their organizations towards financial success. With this in mind, Nairametrics highlights some of the CEOs of companies with the best -performing stocks on the NGX during the first quarter of 2024 (Q1 2024).
9. Dr. Lars Richter- Managing Director/CEO Julius Berger Nigeria Plc
Dr. Lars Richter holds a Doctorate Degree in Civil Engineering, and brings to the table vast operational experience, comprehensive technical expertise, and an in-depth understanding of Julius Berger’s operations nationwide.
- He became Managing Director and Director at Julius Berger Nigeria Plc on October 16, 2018.
- Julius Berger Nigeria Plc, the local arm of the Julius Berger Group, witnessed a significant 53.5% surge in its share price during the first quarter of 2024 (Q1 2024). Starting the year at N43.00, the company’s share price soared to N66.00 by the end of the quarter.
Furthermore, the company’s market capitalization experienced a noteworthy appreciation, increasing by N36.8 billion to reach N105.6 billion by the close of the quarter. This marks a substantial rise from the N68.6 billion valuation recorded at the beginning of the year on January 1, 2024.
8. Andrew M. Ikekhua, Managing Director-NEM Insurance
Andrew Ikekhua holds a Higher National Diploma in Mass Communication from the Plateau State School of Accountancy & Management Studies, Jos, and an MBA in Administration and Entrepreneurship from the London School of Business and Finance.
- He also obtained an MBA in Entrepreneurship from ITTL-Doctoral Research Center and the University of Phoenix, Arizona. Ikekhua is an Associate of the Chartered Insurance Institute of Nigeria (ACIIN), a Fellow of the Institute of Chartered Economists of Nigeria (FCE 2009), and holds memberships with several other professional bodies.
NEM Insurance Plc saw a remarkable 57.1% increase in its share price, closing the quarter at N9.90 compared to the N6.30 at the beginning of the year. This surge contributed to an impressive gain in the company’s market capitalization, which rose by N18.1 billion from N31.6 billion to N49.7 billion during the same period.
7. Owen Omogiafo- Transnational Corporation Plc (TRANSCORP)Dr. (Mrs.)
Owen D. Omogiafo serves as the President and Group CEO of Transnational Corporation Plc (Transcorp), Nigeria’s leading diversified conglomerate. Prior to her current role, Owen led as MD/CEO of Transcorp Hotels Plc, overseeing the $132m renovation of the Transcorp Hilton Abuja. As a seasoned professional, she boasts over two decades of experience across various domains, holding key positions at Heirs Holdings Limited, United Bank for Africa Plc, and Accenture.
Transnational Corporation Plc, a conglomerate powerhouse, saw a 64% surge in its share price, soaring from N8.66 to N14.20 in Q1 2024. With significant holdings in Transcorp Hotels Plc and Transcorp Power Plc, the conglomerate achieved a substantial market capitalization of N577.2 billion during the quarter. This marked an impressive N225.2 billion uptick from its starting position of N352.0 billion on January 1, 2024.
6. Adaobi Nwakuche- Managing Director Veritas Kapital Assurance Plc
Adaobi Nwakuche, appointed Managing Director in December 2023, brings over 25 years of expertise in insurance. Her vast experience includes strategic partnerships, deal negotiations, channel development, and team leadership.
- Previously, she served as Managing Director/CEO of Heirs Insurance Limited, shaping its strategic direction.
- With roles as Executive Director at Heirs Holdings Group and Director of Commercial Operations, Adaobi holds a government and public administration degree from Abia State University, an MBA from ESUT Business School, and a Doctorate in Insurance and Risk Management from the European American University. She’s a member of CIIN and CII, and an alumnus of Harvard Kennedy School and Lagos Business School.
Veritas Kapital Assurance Plc, one of the insurance companies listed on the NGX was one of the best performing stocks in the NGX in Q1 2024. It gained an impressive 81.1% as its share price moved from N0.37 at the start of the quarter to N0.67 at the end of the quarter.
The company’s market cap also appreciated by N4.16 billion during the first quarter.
5. Chief Adebimpe Giwa – GMD Tripple Gee and Company Plc
Chief (Mrs) Adebimpe Giwa is a highly accomplished Administrator with extensive experience and a strong educational background, including a B.A ED (English) and Masters in Public Administration (MPA) from Lagos State University.
- She obtained her Masters in Marketing from St. Edward ‘s University, USA. She is an esteemed member of the Institute of Directors of Nigeria and a Fellow of the National Institute of Marketing of Nigeria, FNIMN . Chief Giwa is an alumni of the Lagos Business School OMP 31 and also a dedicated Rotarian.
Printing firm Tripple Gee and Company Plc made a notable impact on the NGX in Q1 2024. The company’s share price surged by 92.1%, reaching N4.13 at quarter-end from N2.15 at the beginning.
Additionally, its market capitalization increased by approximately N980 million during the quarter, totaling N2.04 billion compared to N1.06 billion on January 1, 2024. This performance shows Tripple Gee’s strong showing in the market, reflecting positive investor sentiment and confidence in the company’s prospects.
4. Ayodele Musibau Abioye-Managing Director BUA Foods
Ayodele Abioye is an experienced and multi-skilled business engineer with over 25 years in business operations, leadership and management, food manufacturing, project engineering, supply chain, change, and general management.
- Ayodele Abioye joined the BUA Group in 2021 as Chief Operating Officer for BUA Group’s food businesses and was appointed Acting Managing Director of BUA Foods Plc in 2021.
- His previous roles include General Manager at Seven-Up Bottling Company, Franchise Technical Director at Coca-Cola Nigeria, Regional Supply Chain Director with Nigerian Bottling Co. Ltd., and Chief Operating Officer for SecureID Ltd.
- Ayodele has a Bachelor’s degree in Mechanical Engineering from the University of Ilorin, a Master’s degree in Engineering Management and a PhD in Manufacturing Engineering – both from the University of Benin.
Nigeria’s largest consumer goods company and the largest member of BUA Group, BUA Foods posted an outstanding performance in the NGX in Q1 2024. The company’s share price appreciated by 96.4%, moving from N193.40 to N379.90 during the quarter.
BUA Foods’ market capitalization also appreciated by N3.36 trillion, closing the quarter at N6.84 trillion, up from N3.48 trillion posted at the start of the year.
3. Ossai Mustapha Reuben-CEO/Group Managing Director of The Initiates Plc
Ossai Mustapha Reuben is a seasoned environmentalist and Waste Manager with over two decades of experience.
- Holding a Master of Engineering Degree in Environmental Engineering and a Post Graduate Diploma in Petroleum and Environmental Law, he is a professional member of esteemed organizations like the Chartered Institution of Waste Management UK, ISWA Vienna, and the Nigerian Institute of Architects.
- Ossai’s expertise includes designing Wastewater Treatment Plants, crafting waste management programs, and serving on expert committees.
- He made history as the first African certified as an International Waste Manager by ISWA and served as the past President of Waste Management Society of Nigeria.
Waste management company, The Initiates Plc (TIP), demonstrated strong performance on the NGX in Q1 2024, with a 97.4% increase in its share price. Starting the quarter at N1.15, the company’s share price surged to N2.27 by the end of the quarter.
Additionally, TIP’s market capitalization saw a significant rise of N997 million, climbing from N1.023 billion to N2.020 billion during the same period.
2. Arvind Pathak – Group Managing Director Dangote Cement Plc
Arvind Pathak assumed the role of Group Managing Director of Dangote Cement Plc on March 1, 2023, bringing over 36 years of experience in the cement industry.
- Before joining Dangote Cement, he served as MD and CEO of Birla Corporation Ltd, showcasing his expertise in business leadership.
- Pathak previously held positions as Chief Operating Officer and Deputy Group Managing Director at Dangote Cement Plc until 2021, and as CEO of Reliance Cement from 2008 to 2015.
- He holds degrees in Electrical Engineering and Industrial Engineering and Management, complemented by international management training and a Fulbright scholarship.
Dangote Cement Plc, Nigeria’s most capitalized company, experienced a remarkable surge in its share price during Q1 2024, soaring by 114.7%. Starting at N319.90, the share price surged to N686.70 by the quarter’s end. Additionally, the group’s market capitalization witnessed a staggering increase of N6.25 trillion, rising from N5.45 trillion to N11.70 trillion.
Dangote Cement’s market share on the NGX also saw significant growth, climbing from 13.32% to 19.79% during the quarter, marking a substantial increase of 6.47 percentage points.
1. Akin Akinfemiwa- CEO Geregu Power Plc
Akin Akinfemiwa, the CEO of Geregu Power Plc, oversees strategic leadership, direction, and expansion for the business. With over 22 years of experience, he specializes in International Petroleum Products Trading and Energy. Akinfemiwa served as Group CEO of Forte Oil Plc for 8 years, leading its transformation and turning it into a profitable entity.
He also chaired Forte Upstream Services and MOMAN, and held directorial roles in African Petroleum Ghana and Fineshade Energy UK. Akinfemiwa began his career as a Business Process Analyst at FSB International Bank plc before venturing into strategic trading and supply relationships at Oando Plc.
Geregu Power Plc, the premier power company listed on the NGX, saw an astounding 150.6% surge in its share price during Q1 2024. Witnessing an impressive rise from N399.00 to N1000.00 per share, the company’s stock soared to unprecedented heights.
This surge also propelled Geregu Power’s market capitalization, which experienced a substantial increase of N1.5 trillion. Starting the quarter at N997.5 billion, the company’s market value surged to N2.5 trillion by the end of Q1 2024.
[Nairametrics]
It Is Not Nigeria’s Responsibility To Forgive Boko Haram – Ex-soldiers Condemn Reintegrating Terrorists Into Society
AFOLABISome retired soldiers have warned the Federal Government to desist from rehabilitating and reintegrating some repentant terrorists who have gone through the government’s deradicalisation programme, Operations Safe Corridor (OSC).
Naija News reports that the rehabilitation programme began during former president Muhammadu Buhari’s administration and has seen no fewer than 4,000 ex-Boko Haram members go through the programme.
In January 2023, no fewer than 613 rehabilitated terrorists undergoing de-radicalisation were scheduled to be handed over by the military authorities to their respective state governors.
However, in July 2022, some repentant Boko Haram members, despite renouncing their membership of the terror group, were accused of having contact with their former colleagues and supplying them intelligence.
The former terrorists were said to be among the 800 persons who were recently reintegrated into the Bama community in Borno State and were resettled at the Government Girls’ Secondary School Bama.
Speaking on the development, a retired colonel, Hassan Stan-Labo told Punch that, “If we have mobilised and brought them (terrorists) out for rehabilitation, it is already too late; there is nothing we can do but to go the whole hog; go through the entire demobilisation, de-radicalisation and rehabilitation.
“However, if I were the commander-in-chief, my instructions would have been: ‘Don’t bring anybody for any damn rehabilitation; you bloody well will pay the price for whatever you have done on the battle front’.
“You want a battle, come get the battle. You have committed all kinds of atrocities and now, you turn around begging for forgiveness.
“We don’t have a responsibility to forgive you; we hasten your journey to heaven. Go and meet God and ask for penance. What do we tell the people in the displaced persons camps, who are not even getting the kind of treatment we are giving these guys?
“We can have the biometrics of these guys and since fingerprints are used in the course of recruitment, we should be able to fish out those who may want to join the military. If we have a very effective intelligence network on the ground, this wouldn’t happen. I’m also aware that the Borno State Government is documenting their biometrics data. That’s a very good starting point.”
Another retired military officer, who served in the Nigerian Navy but refused to be named, said it was wrong to assume that terrorists would repent because the government made them go through a programme.
He said, “We are talking of hard criminals who kill innocent people for a living and leave families deserted. They destroy people’s livelihoods and feel nothing. Why will a few months or years programme deradicalise them? What was the government thinking when it said it wants to reintegrate them back into the society to live with the same people whom they rendered homeless? The government needs to have a clear rethink. No terrorist should be treated with kid’s gloves.”
Also speaking, a former director of the Department of State Services, Mike Ejiofor, said the rehabilitation programme seemed not well-thought-out and ill-timed.
He said, “The government has been releasing some of them under the notion that they have been de-radicalised. These same people will go back into the society and start wreaking havoc. I think the government should reconsider its stance on the release of de-radicalised insurgents to avoid reintroducing criminals into the society.
“You can’t continue to release them in the heat of the problems when none of the people that have been arrested has been successfully prosecuted to serve as deterrent to others. Since they are not prosecuted, they are not afraid of going back to their old way.”
The Ilorin Zonal Command of the Economic and Financial Crimes Commission, EFCC, on Tuesday, April 2, 2024, arrested the General Overseer of CAC Freedom City Prophetic and Deliverance Ministry, Ilorin, Kwara State, Adeniyi James, for allegedly defrauding a member of the church to the tune of N3,980,000.
A Statement by the Head of Media and Publicity of the EFCC, Dele Oyewale, made available to our correspondent in Ilorin on Saturday noted that the victim, Oluwole Babarinsa, had in a petition to the commission, alleged that James called him out during a church programme some time in 2021 that he had a revelation that he would travel abroad.
According to the petitioner, the cleric, in the course of giving the revelation, asked him about his preferred country, to which he replied “Canada”.
“Thereafter, we struck an agreement to talk later to perfect arrangements for the trip,” the petitioner said.
“The prophet later told me that he had a friend in Lagos who could help me facilitate my relocation to Canada, but for N1.7 million and N2.5 million for processing of flight ticket and travel documents, respectively”, the petitioner said.
The Petitioner further disclosed that he had to sell some of his property and took some loans before he could raise N3,980,000, which he gave the prophet to facilitate his quick relocation to Canada.
The Petitioner further said that after prolonged waiting with no result, he became agitated and began to query the prophet’s vision, prompting him to ask for a refund of his money.
He said that all efforts and entreaties to the suspect to refund his money yielded no positive result.
The EFCC said that the suspect would be arraigned in court upon the conclusion of investigations.
American actor and wrestler, Dwayne Johnson, popularly known as The Rock has vowed not to endorse the incumbent President of the United States (US), Joe Biden for a second term in his looming rematch with his predecessor, Donald Trump.
Sunday Telegraph recalls that Johnson endorsed Biden in his first presidential election contest in 2022 against ex-President Trump, commending him then as the former vice-president and senator over his “compassion, heart, drive and soul”.
But in an interview with Fox News on Friday, Johnson said, “Am I going to do that again this year? That answer’s no. I realise now going into this election, I will not do that.”
In September 2020, Johnson endorsed Biden and his running mate, Kamala Harris.
“You guys are both experienced to lead, you’ve done great things,” The Rock had said.
“Joe, you’ve had such an incredible career, and you’ve led with such great compassion, heart, drive, and soul…Kamala, you have been a district attorney, a state attorney, a US senator. You are smart and tough. I have seen you in those hearings.”
According to the Guardian UK, the action star, when asked if he would repeat the endorsement said, “Am I happy with the state of America right now? Well, that answer’s no. Do I believe we’re gonna get better? I believe in that – I’m an optimistic guy. And I believe we can do better.
“The endorsement that I made years ago with Biden was what I thought was the best decision for me at that time. I thought back then, when we talked about, ‘Hey, you know, I’m in this position where I have some influence,’ and it was my job then … to exercise my influence and share … who I’m going to endorse.”
Johnson also said his “goal is to bring this country together” but said he would “keep my politics to myself”.
“It is between me and the ballot box,” he said. “Like a lot of us out there, not trusting of all politicians, I do trust the American people and whoever they vote for that is my president and who I will support 100 per cent.”
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In a bid to make the forthcoming sallah festivities in Zamfara State more memorable, Senator Abdulaziz Yari has flagged off the distribution of 380 cows to the All Progressive Congress (APC) leaders, stakeholders and the families of those who mostly are destitute in the state.
This was disclosed shortly after the distribution ceremony of the cows in Gusau which was led by the Chairman, Senator Yari Political Organization, Alhaji Lawal M Liman, adding that, Senator Yari has provided 380 cows to distribute to the concerned beneficiaries after considering the cost of living.
“Yari, the former Zamfara governor representing Zamfara West Senatorial District in the National Assembly, has decided to assist considering the fact that, members of the APC in the state are now on the opposition, therefore, things could be difficult.
“The beneficiaries of the gesture include State, Local Government and Ward executives of the APC.
“Other beneficiaries of the gesture include Islamic scholars, youth and women groups and associations as well as community leaders in the state.
“Nine of the 14 local government areas of the state have already collected cows allocated to them.
“We are working to extend the allocations of the remaining Five LGAs and other categories of the beneficiaries’’ Liman said.
He commended the former governor for his concern for the people of the state, especially for those at the grassroots.
Liman urged other political officeholders to emulate the former governor in extending the dividend of democracy to the electorates.
Liman called on Muslims to use the remaining days of Ramadan to pray for peace and stability in the state and in Nigeria in general.
Nollywood actor and comedian, Nwaogu Udochukwu Victor, popularly known as Nkubi and his wife welcomed their first child.
The content creator took to his Instagram page on Saturday, April 6, to announce the good news to his fans and followers.
In the shared post, the actor shared a video showing the photos they took when his wife was pregnant with their child.
However, Nkubi didn’t reveal the gender of the child.
SERAP sues Akpabio ‘over failure to recall Ningi, refer N3.7trn budget padding to EFCC, ICPC’
AFOLABISocio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Senate President, Mr Godswill Akpabio over “the failure to refer the alleged N3.7 trillion budget padding to appropriate anti-corruption agencies for investigation and prosecution, and to recall Senator Abdul Ningi who blew the whistle on the allegations.”
Mr Akpabio is sued for himself and on behalf of all members of Nigeria’s Senate.
It would be recalled that whistleblower Ningi last month was suspended for three months over his allegations that the 2024 budget was padded by over N3 trillion and that the country is operating two budgets.
In the suit number FHC/ABJ/CS/452/2024 filed last Friday at the Federal High Court, Abuja, SERAP is seeking: “an order of mandamus to direct and compel Mr Akpabio to refer the alleged N3.7 trillion budget padding to appropriate anti-corruption agencies for investigation and prosecution of suspected perpetrators.”
SERAP is also seeking: “an order of mandamus to direct and compel Mr Akpabio to immediately take steps to ensure the reinstatement of whistleblower Abdul Ningi who was suspended from the Senate over his allegations that the lawmakers padded the 2024 budget by irregularly inserting projects worth N3.7 trillion.”
SERAP is also seeking: “an order of mandamus to direct and compel Mr Akpabio to put in place transparency and accountability mechanisms to ensure that the trillions of Naira budgeted for constituency projects are not embezzled, misappropriated or diverted into private pockets.”
In the suit, SERAP is arguing that: “Granting this application would serve the public interest, encourage whistleblowers to speak up, improve public services, and ensure transparency and accountability in the management of public resources.”
SERAP is arguing that, “Directing Mr Akpabio to refer these allegations to appropriate anticorruption agencies and to reinstate whistleblower Abdul Ningi would be entirely consistent and compatible with the letter and spirit of the Nigerian Constitution 1999 [as amended] and the country’s international obligations.”
SERAP is also arguing that, “The allegations by Senator Ningi amount to public interest disclosures and can contribute to strengthening transparency and democratic accountability in the Senate in particular and the country as a whole.”
According to SERAP, “Suspension of Senator Ningi by the Senate followed a seriously flawed process and it amounts to retaliation.”
SERAP is also arguing that, “Senator Ningi’s status as a whistleblower is not diminished even if the perceived threat to the public interest has not materialised, since he would seem to have reasonable grounds to believe in the accuracy of the allegations of budget padding and corruption in the Senate.”
The suit filed on behalf of SERAP by its lawyers, Kolawole Oluwadare and Mrs Adelanke Aremo, read in part: “It is in the public interest and the interest of justice to grant this application. No whistleblower should ever be penalised simply for making a public interest disclosure.”
“Directing Mr Akpabio to refer the allegations to appropriate anticorruption agencies would help to address the lingering problem of budget padding and corruption in the implementation of constituency projects.”
“Directing Mr Akpabio to refer the allegations to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and Economic and Financial Crimes Commission (EFCC) would also ensure probity and accountability in the budget process.”
“Investigating and prosecuting the allegations of budget padding and corruption would end the impunity of perpetrators. It would build trust in democratic institutions with the ultimate aim of strengthening the rule of law.”
“Years of allegations of budget padding and corruption in the implementation of constituency projects have contributed to widespread poverty, underdevelopment and lack of access to public goods and services.”
“Allegations of budget padding and corruption in the implementation of constituency projects have also continued to have negative impacts on the fundamental interests of the citizens in several communities and the public interest.”
“Combating budget padding would improve access of Nigerians to basic public goods and services, and enhance the ability of ministries, departments and agencies to effectively and efficiently discharge their constitutional and statutory responsibilities.”
“Section 15(5) of the Nigerian Constitution requires public institutions to abolish all corrupt practices and abuse of power.”
“Section 16(2) of the Nigerian Constitution further provides that, ‘the material resources of the nation are harnessed and distributed as best as possible to serve the common good.’”
“Section 13 of the Nigerian Constitution imposes clear responsibility on the National Assembly including the Senate to conform to, observe and apply the provisions of Chapter 2 of the constitution.”
“Section 81 of the Nigerian Constitution and sections 13 and 18 of the Fiscal Responsibility Act constrain the ability of the National Assembly to unilaterally insert its own allocations in the budget without following the due process of law.”
“Nigeria has made legally binding commitments under the UN Convention against Corruption to ensure accountability in the management of public resources.”
“Articles 5 and 9 of the UN Convention against Corruption also impose legal obligations on the National Assembly including the Senate to ensure proper management of public affairs and public funds.”
“Article 33 of the Convention requires government institutions including the Senate to ensure the protection of whistleblowers against any unjustified treatment. Granting this application would ensure that these commitments are fully upheld and respected.”
“Senator Ningi is a whistleblower, who is protected under article 33 of the UN Convention against Corruption to which Nigeria is a state party. Senator Ningi is a whistleblower because of his public interest disclosures on alleged budget padding and corruption in the Senate in the context of carrying out his work as Senator.”
“According to our information, Senator Abdul Ningi, the former Chairperson of the Northern Senators Forum (NSF), recently told BBC Hausa that the lawmakers sought the service of a private auditor and discovered irregularities in the budget.”
“Senator Ningi reportedly said, ‘For example, we had a budget of N28 trillion but after our thorough checks, we found out that it was a budget of N25 trillion. How and where did we get the additional N3 trillion from, what are we spending it for?.’”
“According to BudgIT, a total of 7,447 projects culminating in N2.24tn were indiscriminately inserted in the 2024 budget by the National Assembly. 281 projects worth N491bn, and 3,706 projects within the range of N100–500m, worth 759bn were inserted in the budget.”
No date has been fixed for the hearing of the suit.
Tariff Hike: ‘95 per cent of DisCos’ customers in Band A don’t get 20hrs of electricity daily’
AFOLABIMr Eket Eko Ogbonga is the National Secretary of the Network for Electricity Consumer Advocacy of Nigeria.
In this interview, Ogbonga speaks on the controversial subsidy removal through an increase in the tariff paid by consumers in Band A who, the Nigerian Electricity Regulatory Commission (NERC) says, are consuming 20 hours of electricity and above daily from N68/KWh to N225KWh, saying less than five per cent of those in the Band get 20 hours supply. He also speaks on the metering problem and how Distribution Companies (DISCOs) are smartly collecting money for electricity not supplied. Excerpts:
What kind of advocacy has been going on since the announcement of the tariff increase for Band A electricity consumers last week?
What are we going to tell Nigerians when the government has already made up its mind? Before this time, we saw it coming and we warned against the implication it’s going to have on the economy and Nigerians. We are not so much against tariff increases, the problem we have is that we have a Commission that is always churning out regulations but with no capacity to monitor implementation.
You said NERC cannot ensure compliance. How?
I deal with facts. In 2020-21, the Commission came up with what it called a Service-Based Tariff based on the principle that the more electricity that is supplied to your business or household the more you pay. Now this led to the reclassification of electricity consumers’ tariff bands. We have band A: The consumers there would be supplied a minimum of 20 hours a day to pay at that rate; Band B 18 hours, Band C 12 hours, Band D 8 hours, and Band E 4 hours. We surveyed Band A customers and we discovered that less than 5 per cent of those in that Band received 20 hours. We discovered that some customers in 11 months never had 18 hours of electricity supply but they are on Band A.
How do you measure?
We have meters and the prepaid meters are smart. If you have 50 outages in a day, the meter records it. So you can extract that information. So there is software you can use to get that information without tampering with the meters. Why do you think the DISCOs revenues are rising? It is because they are collecting money from Nigerians for power not supplied. So, we have a situation where some hoteliers on Band A never had an 18-hour supply for 11 months.
So, why do you think the DISCOs revenues are rising under the Multi Year Tariff Order, MYTO? Section 19 of MYTO and Sections 13 and 14 of the MYTO 2023, 2024 state clearly that where there’s failure on the part of the Distribution Company to deliver on the committed service level of 20 hours minimum for Band A, 16 hours minimum for Band B, 12 hours for Band C, there shall be retroactive adjustment of customers in those clusters and compensated. But there is no condition on how to measure. Was it going to be the DISCO that would measure, was it the Commission or the customer? So when we made noise about it, they came out with a regulation on compensation.
Nothing is said about how we will measure; you left it to the DISCOs and not the consumers. Will the DISCOs now say “We did not supply electricity to you; we are going to compensate you?” Haba! The question is how do you measure it? Is there a mechanism put in place by the Commission on how they can measure? They are talking about going to feeders. Do consumers know what feeders are? Do consumers have access to the feeders? So, these are the problems we are having.
Moving forward, what do we need to insist on?
Tariff increase, whether you call it cost reflective tariff, is not the silver bullet that is needed in the market. Why tariff increase or a reflection of cost in the market? We are dancing around the problem and our priorities have not been set right. First, what is the percentage of customers in Band A that are metered? We have a huge metering gap. The meter is the revenue assurance tool in the business of electricity. Why do we have revenue shortfalls, huge subsidies they are talking about? Aggregate, technical and commercial losses are as high as 47 to 49 per cent. This means that for every N100 of electricity generated, transmitted and distributed, you are losing N47 to N49 and you are recovering the balance.
Let’s look at the situation in Zambia, Kenya and South Africa. In Zambia for instance, to guarantee revenue in the electricity sector, the meter is paramount. If you meter 100 per cent as it is done in Zambia, their ATC and C is 17 per cent. The solution to the liquidity in the market is the huge metering gap of over 7 million of unmetered customers which now leads to the inability of the Distribution Company to collect revenue. You are not guaranteed your revenue. I bought energy three days ago for N50, 000 for services not yet used.
So, if you meter 100 per cent like is done in Zambia and Kenya, it will reduce revenue loss and shoot up your revenue collection. So, you cannot generate until distribution launches higher than generation to continue running around. In other words, until you can guarantee that what you generate you can distribute and get your money, we are not going to get there. And what will help you do that is the meter.
But there are claims that electricity supplied in any of the Bands can be measured…
If they claim so, let them provide the evidence because we are dealing with their document. The MYTO that threw up Service Based Tariff, Section 19 of the 2020 or 2021 and Sections 13 and 14 of MYTO 2023 state clearly that where there is a failure on the part of the electricity company to deliver up to a certain level, and upon confirmation by who is not stated and it says if it comes to NERC, and NERC verifies it, then NERC will order for a retroactive adjustment and compensation. They should mention one customer in the whole of Nigeria in 2022, 2023 and 2024 that they have measured its supply and asked for compensation. Would you beat your chest that you get 20 hours of electricity supply daily? The real thing is that Nigerians are not being supplied electricity based on the committed service level.
But is it a surprise to you that the Federal Government wants to save N1.14 trillion in electricity subsidies?
Why should it be if we are ready to do the needful and if the Distribution Company can distribute electricity? We have what they call MYTO Daily Load Allocation, is it all the Distribution Companies that are getting their daily load allocation? No. this is because they cannot take the product to consumers.
It is not about no money in the market, it is because of the environment that is created where those who are saddled with the responsibilities are only rent collectors. The same MYTO established what is called Performance Improvement CAPEX in 2021, and huge sums of money were allocated, I challenged NERC to publish how the money was spent by DISCOs.
What exactly is your grouse with the project?
Sometime in November 2022, some people and I were invited to the World Bank, and we were told that the Federal Government was asking for additional funding of $3 billion for the power sector and they told us about $9 billion that was already spent.
Who is tracking that money and where has the money gone? What impact has it made in the sector? The problem in our electricity sector is not what these guys want Nigerians to believe. The problem is the ability to tell Nigerians the truth about what is going on in the sector.
What should we do if we are going to have a grant or a loan of $3billion and you pump this money to raise the metering level to at least 80 to 85 per cent, the liquidity prices will drop sharply and the Federal Government would not be wasting that amount of money.