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Atiku Meets Dangote, Ovia, Elumelu, Others Promises to Name, Shame, Prosecute Oil Thieves

Published

2 years ago

November 26, 2022

Eric

There will no longer be a hiding place for oil thieves and their accomplices, no matter how highly placed in the country if the Peoples Democratic Party (PDP) takes power next year.

This was the pledge of the PDP presidential candidate, Alhaji Atiku Abubakar today in Lagos when he interacted with a broad spectrum of corporate Nigeria under the aegis of Business Dialogue Stakeholders Forum at Eko hotel in Lagos.

Doyens of industry at the session include: Alhaji Aliko Dangote, Jim Ovia, Femi Otedola, Tony Elumelu, Herbert Wigwe and Muhammad Hayatudeen among others.

Atiku also said he would, in the interest of national development, confiscate all oil bloc allocated to some Nigerians who have failed to make them operational.

The former Vice President, who promised to sustain frequent interactive sessions between government and the country’s’ business class when voted to power, equally outlined the ways he would tackle what he described as an ailing economy.

“If you are not going to develop oil blocs given to you, we will take it away and give it to those who will develop it. We will also assemble the names of those involved in oil theft, publish same and prosecute them,” Atiku told the stakeholders.

On his plans to boost the oil and gas sector, Atiku recalled that under the administration of ex-President Olusegun Obasanjo the quota of oil production was earmarked for increase to four million barrels per day.

That plan, he explained, would be resuscitated and sustained beyond the projected figure, when he is voted into office next year, pointing out that in order to do this successfully, the Petroleum Industry Act (PIA) and any other enabling law would be invoked.

“When we were in government, we started this process. However, there were hiccups. We were unable to pass the legislation to encourage IOCs to partake in the sector. We will go back to where we started,” he said.

He added that the Brass and Olokola LNG projects, atarted under the Obasanjo administration will be given more attention under him. “We will continue if we have the opportunity. As you know, joint ventures are good because they are investor-driven,” he said.

He reiterated his commitment to privatizing the refineries in Kaduna, Port Harcourt and Warri, saying: “I swear to God, I’ll privatize them,” he told the entrepreneurs.

Turning to fiscal challenges of FOREX, monetary policy and the N20 trillion way and means balance facing the country, Atiku said “I believe that we should have a FOREX policy that allows a convergence. I don’t believe in a multiple FOREX policy that currently applies.”

He said in order to stabilize the FOREX regime loopholes in oil production would be blocked, emphasizing that he would encourage local production and “not control of public expenditure.”

“Dollarization or otherwise of the Nigerian economy depends on the strength or weakness of our economy. If we strengthen our economy, you don’t need the dollar. The naira can be strengthened by the number of jobs created and exports,” he said.

According to him, the monetary policy would be such that the Central Bank of Nigeria (CBN) would be independent. “Monetary policy and other related items would be liberalized. Without prize stability, the economy does not work for anyone; and job creation and poverty eradication cannot be attained.”

“CBN will take responsibility to deliver price stability despite the fact that inflation is a global phenomenon and a product of strong demand and limited supply.

“But none of these stops the CBN from carrying out its duty of price stability and single window fiscal regime,” the PDP presidential candidate said, pointing out that “some of these economic and financial challenges existed in 1999.”

“We were responsible for enacting the Fiscal Responsibility Act (FRA). We tried to schedule repayment of debts and we succeeded. If we did that, you can trust us again to address the cure problems.

“With this experience, you should trust that we can bring the monetary policy back on track,” he further added, indicating that it is disturbing that “the country is moving backwards.”

“This have grave consequences for job creation and long term growth. The key sectors are not growing or growing slowly. There are acute fiscal challenges. The manufacturing sector is declining. 133 million Nigerians are multi-dimensionally poor, meaning they have restricted access w education, healthcare, housing and rural facilities. These are the reasons we are engaging you today,” he stated.

In his remarks, the PDP Vice Presidential candidate, Governor Ifeanyi Okowa, who listed some problems facing the Niger Delta region as community agitations, high powered illegal bunkering and breaching of oil pipelines by vandals, said the Atiku administration would embark on technology-driven surveillance and other solutions to tackle the problems.

The national chairman of the PDP, Iyorchia Ayu, expressed appreciation to corporate Nigeria for gracing the occasion, assuring them that they are engaging with the right party. “There is going to be continuing dialogue. When we take over power next year, not if, we will continue to engage you,” he said.

Both Governors Udom Emmanuel and Aminu Waziri Tambuwal of Akwa Ibom and Sokoto states; who are the Chairman and Director General of the Atiku/Okowa presidential campaign team, urged the stakeholders to support Atiku for a better Nigeria.

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Tinubu Presents N47.9trn 2025 Appropriation Bill to NASS

Published

3 days ago

December 18, 2024

Eric

President Bola Tinubu, on Wednesday, presented the proposed 2025 federal budget to a joint session of the National Assembly.

The N47.9 trillion budget saw a whopping N3.5 trillion allocated to the education sector.

Other sectors that got higher allocations include defence and security – N4.91tn, infrastructure – N4.06tn and health – N2.4tn.

“It is with great pleasure that I lay before this distinguished joint session of the National Assembly, the 2025 Budget of the National Assembly of Nigeria titled, ‘The Restoration Budget’ security peace, building prosperity,” Tinubu said as he concluded his 30-minute presentation at 1:10pm.

This budget highlights the government’s focus on improving education, healthcare, and infrastructure, in line with its ‘Renewed Hope Agenda’ aimed at boosting the economy and addressing key national priorities.

The live broadcast of the budget presentation today revealed the government’s plans for the next fiscal year. With a strong emphasis on human capital development, the president highlighted the budget’s commitment to improving the nation’s economic foundation.

Education sector receives major funding

A significant portion of the 2025 budget is dedicated to education, with N3.5 trillion allocated to the sector. President Tinubu stated that part of this funding would be directed toward infrastructure development, including support for Universal Basic Education (UBEC) and the establishment of nine new higher educational institutions.

“We have made provision for N826.90 billion for infrastructural development in the education sector,” Tinubu said.

This allocation aims to improve educational facilities and support ongoing efforts to strengthen Nigeria’s educational system.

Focus on human capital development

During the presentation, the president emphasized the importance of investing in Nigeria’s human capital. “Human capital development, our people are our greatest resource. That is why we are breaking record investment in education, healthcare, our social services,” he remarked.

Tinubu also pointed to the N34 billion already disbursed through the Nigerian Education Loan Fund (NELFUND) to assist over 300,000 students.

The budget includes continued investments in healthcare and social services as part of the broader goal of enhancing the quality of life for Nigerians.

Strengthening the economy and national security

Tinubu highlighted that the 2025 budget is designed to build a robust economy while addressing critical sectors necessary for growth and security.

“This budget reflects the huge commitment to strengthening the foundation of a robust economy, while addressing the critical sectors essential for the growth and development we envision; and secure our nation,” he said.

The budget aims to tackle key challenges and foster long-term economic stability by prioritizing infrastructure and development in key sectors.

Healthcare and social services allocations

In addition to education, Tinubu focused on the allocation for healthcare and social services. The government plans to increase investments in healthcare infrastructure and services to ensure broader access to essential healthcare for Nigerians.

These investments are part of the administration’s strategy to improve overall living conditions and enhance public health across the country.

President Tinubu’s proposed 2025 budget is said to reflect the administration’s commitment to achieving its development objectives, with a focus on economic growth, human capital development, and infrastructure improvement.

As the National Assembly reviews the budget, the president reiterated his administration’s resolve to address the nation’s most pressing needs.

Source: Nairametrics

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Ghana’s President-elect Mahama Visits Tinubu in Abuja

Published

4 days ago

December 17, 2024

Eric

Ghana’s President-Elect, Dr. John Dramani Mahama, a courtesy visit to President Bola Tinubu at his residence, Presidential Villa, State House on Monday.

Mahama won 56 percent of the votes in this month’s presidential election, compared to the ruling party candidate and Vice President Mahamudu Bawumia, who secured 41 percent.

The landslide comeback for former president Mahama ended eight years in power for the New Patriotic Party (NPP) under President Nana Akufo-Addo, whose last term was marked by Ghana’s worst economic turmoil in years, an IMF bailout and a debt default.

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I Stand by What I Said, Kemi Badenoch Replies VP Shettima

Published

1 week ago

December 12, 2024

Eric

The leader of the United Kingdom’s Conservative Party, Kemi Badenoch, has lashed back at Vice President Kashim Shettima over the latter’s reaction to her comments about Nigeria.

Badenoch was born in the UK in 1980 to Nigerian Yoruba parents.

Badenoch, who attained age 16 in Nigeria before departing the country for the UK where she was elected Conservative Party’s leader, described Nigeria as a nation brimming with thieving politicians and insecurity.

However, Shettima, while speaking at the 10th Annual Migration Dialogue at the Presidential Villa in Abuja on Monday, December 9, 2024, accused Badenoch of “denigrating her country of origin” with her remarks.

The vice-president listed influential people whose families had migrated to other countries, commending former UK Prime Minister Rishi Sunak as a “brilliant young man who never denigrated his nation of ancestry.”

Reacting on Wednesday, Badenoch lashed back at Shettima, saying she doesn’t do “PR for Nigeria”.

Her spokesperson, as the Tory leader, according to UK Express, said: “Kemi is not interested in doing Nigeria’s PR; she is the Leader of the Opposition in the UK.

“She tells the truth; she tells it like it is; she isn’t going to couch her words. She stands by what she said.”