•‘It’s possible to build in difficult times’
•North’s Christian forum endorses Tinubu/Shettima
•Cross River APC crisis resolved

 

All Progressives Congress (APC) presidential candidate Asiwaju Bola Tinubu yesterday unveiled a funding strategy for infrastructure revolution in the Southsouth geo-political zone.

The standard bearer assured stakeholders from the zone that it is possible to build Nigeria in difficult times and achieve monumental feats.

Tinubu and his running mate, Senator Kashim Shettima, stormed Calabar, capital of Cross River State, for a town hall meeting on national transformation and industrialization of the region.

Also yesterday, Tinubu’s wife, Senator Oluremi Tinubu, and Governors Abdullahi Ganduje (Kano), Aminu Masari (Katsina) and Nasiru El-Rufai (Kaduna), wooed the Northern Christians for Tinubu/Shettima ticket in Kaduna.

At the Calabar parley, Tinubu, who also reconciled warring chieftains in the state, said he had an edge over his rivals because of his honesty and sincerity of purpose.

Stressing that moving Nigeria forward is a task that must be accomplished, the APC candidate said: “I am a progressive. Progressives are the ones to drive Nigeria forward. We will work with a team of visioners, intellectuals, and committed ones that can build our country.”

On how he intends to fund infrastructure development, Tinubu said: “We create long-term money and face it squarely.

“Change the fiscal confusion between monetary policy and fiscal policy. Be accountable, and block the loopholes. Untangle the bottlenecks; accelerate processing, answer questions; timely regularisation of money and treasury notes amongst others.”

Tinubu’s explanations elicited applause from the audience.

At the meeting were Governor of Cross River State, Prof. Ben Ayade, the Director-General of the APC Presidential Campaign Council (PCC), Plateau State Governor Simon Lalong; APC National Women Leader Dr. Betta Edu;  and former Cross River State Commissioner for Finance and senatorial candidate for Cross River South District Asuquo Ekpenyong Jnr. Others were former APC National Chairman Adams Oshiomhole, Senator Florence Ita-Giwa, Senator Victor Udoma Egba, former Governor Godswill Akpabio, former Petroleum Minister Don Etiebet, Minister of State Power, Jeddy Agba; Minister of State Labour, Festus Keyamo; former Economic and Financial Crimes Commission (EFCC) Chairman Nuhu Ribadu; TeTFUND Chairman Kashim Ibrahim-Imam and former House of Representatives Speaker Dimeji Bankole.

Tinubu urged the electorate in Cross River to vote for him and all the candidates of the party. He spoke about the rich natural endowment and resources in the state, assurring that his administration, if voted into office, will create wealth.

He expressed delight at the Waterfront reserves of Calabar and the rich forest reserves in the central and northern parts of the state.

Tinubu said: “Cross River Waterfront can make a lot of money for the state. Calabar Water front can be better than what you have in Miami in USA.”

Tinubu, who also resolved the crisis in the Cross River APC, invited Senator John Owan Enoh on stage and prevailed on him to discontinue his case against the APC governorship candidate, Bassey Otu, and Mary Ekpee.

He advised them to work harmoniously with Ayade.

 

‘I’ll end poverty in Nigeria’

Tinubu promised to conquer poverty in Nigeria, if elected in 2023.

He said that he would deploy all the human and material resources God had bestowed on the country to move it out of poverty.

The presidential candidate, who noted that education remained the greatest tool to fight poverty, said each state of the federation was blessed with abundant natural resources, all of which would be deployed in changing the fortune of the country.

He, however, pointed out that in doing that, there was the need for people to remain united and stop the destruction of what God had deposited in the country to enhance its greatness.

Tinubu said: “My quest to progressively drive Nigeria forward is the only reason I am running; no other person is running with me.

“Those who say they are running have no iota of honesty in them; they can’t keep to their promises; all they are interested in is to insult me and yet, they don’t have facts.

“I am a wrestler, but I don’t wrestle with just anybody; my only concern is to move Nigeria forward.”

The former Lagos governor decried the slow pace of growth and development in the country, adding that his administration would turn around its fortune.

He promised to unite Nigerians and to ensure steady growth and progress.

Tinubu added: “Moving Nigeria forward is a task that must be done, and anger, division, breaking apart will not solve it; it can only be achieved by being together.

“Let us conquer hunger rather than allowing hunger to conquer us. So, let’s come together and make great wealth for the nation and our people,” he said.

The candidate said Cross River had the potential to be the tourism hub of Africa.

 

‘We can build in difficult time’

Alluding to the experience of the United States during its civil war, Tinubu charged Nigerians and party members to focus on what the country can accomplish.

He said: “We can build in the middle of difficulty. The U.S. was fighting the civil war and still building rail track. We should focus on the things that we can accomplish. We have a lot – there is the waterfront here. We have minerals here. We have arable land, we must conquer hunger, we cannot allow hunger conquer us.”

Tinubu pointed out that for the nation to experience economic recovery, there should be less focus on crude oil while harnessing other areas.

The APC candidate promised to work towards industrialisation while also focusing on the production of goods and services across the country.

“My campaign is built on the firm conviction that our greatest good and best deeds still lie in front of us and not in our past.

“The industrialisation of our economy represents a most vital step towards achieving the Nigeria of our dreams.

“From its very beginnings, our nation’s economy was established on an incomplete foundation. It was built to rely too heavily on oil exports. This means we have always experienced a large gap in the national economic structure. Greater industrialisation shall fill this gap through the production of more and better goods which improve our standard of living while creating better jobs, providing workers with a living wage and establishing businesses that will drive this economy for generations to come.

“Because of this gap in our economic structure and the resultant lack of economic activity, Nigeria has experienced unacceptably high rates of unemployment for several decades. The problems this causes for our society are not limited to simply slowing our economic progress. This gap has affected our nation in profound ways, straining the social fabric in ways that no nation wishes for. Now is the time to repair these fissures our country should never have had to experience.”

Ayade stressed the need for the country to go back to agriculture, if the desire to conquer hunger must be achieved.

He expressed the regret that with its vast land, Nigeria had not attained its full potential, particularly in the area of agriculture.

The governor added: “It is a pity that we are just using our huge cocoa to import poverty, because we don’t have the industry to add value to the produce.

“The same with our huge bitumen deposit, because we import bitumen used for road construction.

“This is why I say that Tinubu is being summoned by God to come and change Nigeria’s narrative.

“He did it in Lagos when he conquered the Atlantic Ocean. He also did many other great things in the state and I am optimistic that he will replicate same in Nigeria, if elected president.”

“Our industrial policy will prioritise strategic industries vital to the development of our national economy. We will grow the nation’s industrial base to provide decent jobs and improving wages to our nation’s ever increasing urban population.”

Tinubu said primary and secondary industrial hubs would be created across each geopolitical zone in the country.

He also promised to bring Cross River into the industrialisation plan through the state’s resources.

“Our industrial plan encourages manufacturing on a massive scale across the country. Nigeria will become known as a nation that produces high quality goods worthy of export to anywhere in the world. We shall use an array of policy measures. On the fiscal side, we shall employ tax credits and holidays, youth employment incentives, import relief, export credits and well-tailored subsidies where necessary.

“Cross River State will play a leading role in our economic uplift. This state is blessed with limestone, clay, salt, tin, granite, basalt, quartzite, and kaolin deposits in commercial quantities.

“Our policies will afford local artisans and craftsmen throughout the region the necessary tools to provide for their families and, ultimately, boost overall economic activity for the national good. I enjoyed the stimulating cultural entertainment the performers displayed. This is a town hall meeting of great minds, brains and visions. My concern is the development of Nigeria, this is a talented nation and moving this country forward is a task that must be done. Let’s put together and conquer hunger by using the God’s great space on agriculture.”

The Central Bank of Nigeria (CBN) yesterday highlighted security features in the redesigned naira notes to reaffirm the safety of the legal tender.

The apex bank in a display, marked out security features and peculiarities that distinctively differentiate the new naira notes and make them inviolable to counterfeiting.

The security features included, at least, 23 features on the N1,000 note, 15 features on the N500 note and 10 features on the N200 note.

The release of the demonstrative naira notes with marked security features followed reports that counterfeits of the new naira notes were already in circulation, few days after the official rollout.

The Nation had reported that there were confusion and palpable fears over the possible faking of the new naira notes, even as most Nigerians have not been able to touch the scarcely available new notes.

Many respondents who had spoken to The Nation said they were afraid of being victims of counterfeits as a viral video raised the alarm over the presence of a counterfeited N1,000 new naira note.

Respondents had said they had seen something similar to the N1,000 note claimed to be counterfeit in the viral video, saying the absence of the new notes had made it difficult for people to clearly identify the new notes.

According to the apex bank, to recognise the N1,000 notes, users should look out for intaglio raised print, portrait watermark, officially variable ink that changes from blue to green with change in angle of view, kinegram with the image of N1,000 and Coat of Arms, iridescent band, windowed metallic security thread and see through printing in register.

The security features on N500 notes included hand-engraved portrait, windowed metallic security thread with CBN inscription, CBN 500 watermark, portrait watermark, officially variable ink that changes from blue to green with change in angle of view, silver patch with embossed Coat of Arms, see through printing in register and raised intaglio print.

Also, the N200 has several security features  including hand-engraved portrait, windowed metallic security thread with CBN inscription, CBN 200 watermark, portrait watermark, officially variable ink that changes from blue to green with change in angle of view, gold patch with embossed Coat of Arms, see through printing in register and raised intaglio print.

Aside, these criteria, there are also other five simple  guidelines on a Naira note that will help holders of the currency to differentiate a counterfeit Naira from a genuine one.

The first step to identifying a genuine banknote from the counterfeit is to check the texture. Findings showed that a soft texture and dull image are indicators of a fake naira. That means one should be sensitive to the touch of the banknote when carrying out a transaction.

There is also need to observe the gold foil on the right side, close to the CBN governor’s signature. One can also differentiate the genuine naira note from counterfeit by applying liquid to the note, and a fake currency can easily change colour.

Also, the ribbon-like thread on all Naira notes can also be observed and touched to confirm if the note is genuine or otherwise.

One can also raise a naira notes on a mercury bulb. This exercise enables the one to see many features of the local currency, not visible to the naked eyes, among others.

Meanwhile, Governor of the Central Bank of Nigeria (CBN, Mr Godwin Emefiele again failed to appear before the House of Representatives yesterday to brief them on the new cash withdrawal limit set by the apex bank.

The CBN governor who initially billed to appear before the House on Thursday, December 15, failed to show up, citing official engagement outside the country with the President as an excuse.

However, the House directed the Clerk to the House to write another letter inviting the CBN Governor to brief the House on Tuesday on the cash withdrawal policy, the redesign of the naira.

However, at plenary on Tuesday, Speaker of the House, Rep. Femi Gbajabiamila announced that the CBN had written to inform the House of the inability of Emiefele to honour the invitation because of his engagement outside the country

He however promised to contact the House immediately he returned to the country from his official assignment.

The House however resolved to reinvite the CBN governor to appear to brief the House unfailingly by 10am on Thursday, December 22, 2022.

The Speaker however ruled that if, for any reason, the CBN Governor is still not back to the country, he should designate any of his deputies that is conversant with the issues to brief the House.

The Speaker said the CBN Governor owe the parliament the responsibility to brief them on the policies of the bank in accordance with that provisions of the CBN act.

President Muhammadu Buhari also met with Gbajabiamila yesterday to discuss various national issues, including next year’s general elections, associated rising violence and the controversies trailing recently introduced cashless policy.

Gbajabiamila, who disclosed this to journalists after the meeting held in the President’s office at the Presidential Villa, Abuja, also disclosed that the 2023 Budget is expected to be passed into law by the National Assembly on Thursday, barring any last minute changes.

The Speaker also dissociated the House of Representatives from recent N89.01 trillion controversy being steered by a member of the House of Representatives, Hon Gudaji Kazaure, saying it had nothing to the Lower Chambers of the National Assembly and that unless the member’s actions attempts to impugn on the integrity of the House.

Asked what he visited the President about, Gbajabiamila said his visit was routine, adding that they had discussions on critical national issues, which included issues around the Central Bank of Nigeria’s (CBN) recent cashless policy and the rising political violence in different parts of the country.

Asked to elaborate on his meeting with the President, he said “things that come up in the last few weeks, things come up every day in Nigeria, every day and in the last few days, some things have come up. I’m sure you know some of these things, and I just wanted to get his perspective on them and give him mine and that of the National Assembly’s perspective and position on those matters and we had a fruitful discussion.

“Well, I wasn’t actually intending to talk to the press. It was just a discussion between the President and I, but of course, there were issues around cashless policy, issues around elections and the violence that seem to be to be erupting here and there, and a couple of other very important matters as well”, he said.

The World Bank has warned that the timing and short transition period of the naira redesign policy may have negative impacts on economic activity.

The international financial organisation issued the warning in its latest Nigeria development update (NDU) report titled ‘Nigeria’s choice‘.

Commenting on the monetary policy, the World Bank, in its report, said the phasing out of existing naira notes over a short time period may add to the challenges of poor households and small-scale businesses.

“While periodic currency redesigns are normal internationally and the naira does appear to be due for it, since naira notes have not been redesigned for two decades, the timing of and short transition period for this demonetisation may have negative impacts on economic activity, in particular for the poorest households.

“International experience suggests that rapid demonetisations can generate significant short-term costs, with small-scale businesses, and poor and vulnerable households, potentially being particularly affected due to being liquidity-constrained and heavily reliant on day-to-day cash transactions.

“At present, households and firms already face elevated financial pressures from prolonged, high inflation, recently compounded by external food and fuel price shocks, and the severe floods, and phasing out existing naira notes over a short time period may add to their challenges,” the World Bank stated.

•Fed Govt eyes N260b from sale of Geregu, Ajaokuta, others

 

THE stage is set for the sale of five power plants, the Director-General (DG), Bureau of Public Enterprises (BPE), Mr. Alex Okoh, said in Abuja yesterday.

This followed the agreement reached by the federal and the 36 governors on the proposed plan to sell-off the five National Integrated Power Projects (NIPPs).

The expected N260 billion proceeds from the sale will go into next year’s fiscal plan, the BPE boss told reporters.

Okoh said the bidding process for the plants could reach the final stage before the end of this year, with the pact coming after the governors’ initial opposition.

The five NIPPs being managed by the Niger Delta Power Holding Company (NDPHC) belong to the federal, states and local governments.

They are located at Geregu, Ajaokuta (Kogi State); Omotoso (Ondo State); Olurunsogo (Ogun State); Calabar (Cross River State) and Ihovbor (Edo State).

Some analysts and Civil Society Organisations (CSO) have argued that others plants franchised to private investors for management have not significantly improved their performance.

But the BPE DG said privatization remained the best option for the five power plants that are redundant.

Okoh admonished that raking in revenue from non-functional assets should be preferable to borrowing that will compound the nation’s debt profile.

He noted that the Bureau has the mandate of raising revenue from idle government entities to boost the economy.

He said: “Of course, we have other mandates to ensure we are able to raise revenue from redundant government assets and enterprises to aurgumement and stall cost.

“But if you have assets that are redundant, rather than borrow, we should consider how to realize revenue from those assets instead of compounding the debt issue by borrowing.”

Noting that governors that had kicked against privatising the power plants are now on the same page with the BPE, Okoh also said that the proceeds would be shared between the federal and state governments.

Okoh said: “The expectation in the (FG) 2023 Fiscal Plan is to contribute N260 billion (as privatisation proceeds) and the key assets that we are looking at the energy assets.

“Incidentally, we are reaching some understanding with the state governors for the sale of those five power plants. That is what has dragged this transaction for, at least, the past two years-just getting a common-stakeholder understanding on the critical need to realise value from these assets before they depreciate beyond value.

“Thankfully, last week, we were able to resolve the issue with the governors. So, for these assets, we are likely to reach financial opening of the bids before the end of this year, probably, next week.  But the proceeds will come in in the first quarter of next year.”

According to him, the privatisation proceeds’contribution to the budget in the 2023 Fiscal Year would exceed the projected N260 billion, after a successful sale of the five power plants.

He said the assets have been categorized as federation assets, since they were built with federation revenue, ordinarily shared between the three tiers of government.

Okoh explained that the Federal Government would receive the statutory 47 per cent of the privatisatioin proceeds, while the balance of 53 per cent would be distributed among the states.

Okoh said his bureau was not involved in the fresh process to concession the Ajaokuta Steel Complex in Kogi State.

The DG noted that the process was being handled by the Federal Ministry of Mines and Steel Development, but that BPE was involved in the resolution of the ownership issues

His words: “But I can say that we were involved in the resolution of the initial concessioning that went sour because one of the assets that was pledged under the Global Concession, the Warri Port, had actually been concessioned by the BPE.

“So, we were involved in negotiations with Global Infrastructure to take them out of Ajaokuta.  But the current concessioning process, I believe, is being handled by the Ministry of Mines and Steel Development.”

On health reform, Okoh explained that the health sector reform embarked upon in 2019 was receiving a boostm having engaged a consultant to do a diagnostic review on the health sector with the aim of ensuring the availability of health care for out-of-pocket expenses.

He said:  ”You notice that, at least, 80 per cent of the population is not covered by any form of health insurance. So, when they engage in any form of health care delivery, they have to pay directly from their pockets.

“As such, as we see in other climes, the government decided to take responsibility for providing health care across the citizens.

“We dimensioned the various segments of the health sector, from primary to tertiary. We found out that the major challenge is round funding. Although there are challenges around the administrative framework, the major problem is funding.

“So, the President set up the health reform committee, which is headed by the vice president and we looked at the health sector along specific themes. Incidentally, the committee met about three weeks ago and we have come up with what we called the great paper – a Concept Note. Essentially, the concept is on how to restructure the healthcare delivery system in Nigeria.

“Apart from funding, we are looking at how to move administrative and decision-making powers to the institutions themselves, especially at the medical centres and the teaching hospitals, where healthcare is delivered.

“We are trying to reposition the healthcare delivery framework for Nigerians along the line of what you have in the NHIS in the United Kingdom (UK) where the public can consume healthcare delivery and the government, through various means, including insurance, would pay.”

A former Senior Special Assistant on Public Affairs to ex-President Goodluck Jonathan, Dr. Doyin Okupe, has stepped down as the Director General of Peter Obi Campaign Council for the 2023 presidential election.

Okupe announced his resignation in a terse statement yesterday.

He was sentenced on Monday by a Federal High Court in Abuja for breaching the Money Laundering Act involving N240 million.

Justice Ijeoma Ojukwu sentenced Okupe after convicting him on 26 of the 59 counts contained in the charge for which he and two others were tried.

The judge said the sentence of two years per count will run concurrently.

But Okupe paid a fine of N13 million to avoid being taken to prison.

Announcing his decision to step aside as Peter Obi’s campaign boss, Okupe said: “You will recall that I briefed you yesterday (Monday) about my personal travails in seeking justice and clearing my name, using the Nigerian Legal System to pursue the same. I have invested too much in your campaign to allow my personal travails to become a source of distraction.

“In the circumstances, I have opted to step aside and plead that you appoint a new Campaign DG who can continue the assignment with zero distractions.”

“God is not man. The enemies have tried in so many ways but kept on failing. Victory is of God.

“Okupe tweeted after conviction yesterday.”

• Ex-VP promises to open borders if elected

 

LOYALISTS of former Katsina State Governor Ibrahim Shema shunned the campaign of the Peoples Democratic Party (PDP) presidential flagbearer, Atiku Abubakar, in Katsina, Katsina State.

Some leaders of the opposition party in the state also boycotted the rally, which held at Dikko Stadium, in the state’s capital.

The presidential candidate promised to open all the country’s land borders and revive national economy.

Nineteen of the 34 local government chairmen of the PDP, who were mostly Shema’s loyalists, were absent at the rally.

Addressing the rally, Atiku said: “We have promised from the five agenda of my policy document; we will return peace and security to the fore.

“We will revive the economy and open all land borders in Nigeria. I will ensure that no businessman is arrested for carrying a bag of rice. It will not be possible.”

The PDP candidate claimed that all existing institutions and infrastructure in Katsina were provided by previous PDP administrations.

He said: “If you notice, all the developments in Katsina State were achieved by the PDP. The roads, university, House Of Assembly, Government House and even this stadium.”

“We will ensure that our children go back to the universities that were built for learning. Therefore, the people of Katsina here are your sons and we appreciate you for giving us support. Vote for the PDP from top to bottom.”

Also addressing the rally, the PDP National Chairman, Dr. Iyorchia Ayu, said the campaign train was in Katsina to thank the people for their continued support.

“I brought you a former vice-president; we are not here to campaign but to thank you for this rousing welcome you have given us,” Ayu said.

The party’s chairman claimed that the incumbent All Progressives Congress (APC) administration has failed to develop the state from where two PDP former governors – the late Umaru Yar ‘Adua and Ibrahim Shema left it.

He urged the people to vote for the PDP governorship candidate, Senator Yakubu Lado Danmarke for a better deal.

“Ayu said: “PDP and Lado will construct 1000 kilometre roads and even more. So, vote for the PDP.  You all know that there is hunger in the land. They tell you lies that they are going to bring change for you. So, now you have seen the change. Therefore, vote for Atiku for president to bring the right change.”