Category: Lead

  • BREAKING: Market forces driving up petrol prices – Kyari ⁣

    BREAKING: Market forces driving up petrol prices – Kyari ⁣

    The Nigerian National Petroleum Company Limited (NNPCL), on Tuesday, explained that the sudden surge in the price of premium motor spirit (PMS), also known as petrol, was the function of market forces.

    Petrol pump price, as observed in the Federal Capital Territory (FCT), Abuja, jumped from N540 to N617 per litre.⁣

    The Group Chief Executive Officer (GCEO) of the NNPCL, Mr Mele Kyari, while speaking to journalists at the Presidential Villa, Abuja, explained that the jump observed at fuel stations was as a result of the market regulating itself.

    Kyari, who spoke to journalists after meeting with Vice President Kashim Shettima in his office, also argued that the increase is not based on a short supply of petrol, assuring that pricing will fluctuate from time to time, depending on activities at the international market.

    “I don’t have the details this moment. We have the marketing wing of our company. They adjust prices depending on the market realities. This is really what is happening; this is the meaning of making sure that market regulate itself so that prices will go up and sometimes they will come down also. This is what we have seen and in reality this is what the market works.

    Read Also: Senate raises alarm over erosion menace in Edo, Anambra

    “There is no supply issue completely. When you go to the market, you buy the product; you come to the market you sell it the prevailing market prices. Nothing to do with supply. We don’t have supply issues. There is robust supply. We have over 32 days of supply in the country.

    “What I know is that the market forces will regulate the market. Prices will go down sometimes; sometimes it will go up, but there will be stability of supply and I’m also assuring Nigerians that this is the best way to go forward so that we can adjust prices when market forces come to play.

    “I don’t have the details this moment, but I know that our marketing wing acts just like every other company in this business. I know that a number of companies have imported petroleum products today. So, many of them are on line. I’m sure my colleague would confirm this.

    “Market forces have started to play; people have started having confidence in the market. Private sector people are importing products, but there is no way they can recover their cost if they cannot take market reflective cost”, he said.

    Also offering a meaning to the development, the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, said the price increase stems from rising crude prices. ⁣

    He also cited changes in freight prices alongside other ancillary costs importers incur during distribution.⁣

    “As a regulator, I told you back in May that we are not going to be setting price. The market will determine itself and as you saw back in early June when prices came out, it was based on the cost of importation plus other logistics of distribution and of course the profit margin by the importer.

    “This market is deregulated; it is open to all participants. As I mentioned also yesterday when I was in Lagos, we have about 56 marketing companies that applied and obtained licenses to import. Out of those, 10 of them have indicated to supply within the third quarter, which is July, August, September.

    “Already, we received some cargoes from these markers: Prudent Energy, AYM Shafa and Emadeb. Emadeb Cargo is arriving tomorrow. So, this is just an encouragement to see that the market is liberated and everyone is free to import so long as you are working within the framework, especially in terms of quality. But to pricing, as a regulator, we are not going to put a cap on the price because we are not part of those importing. We are not a marketing company; we are just a regulator.

    “So, when you say market forces are working, basically, what it is that you buy; you consider the price of crude going up. A couple of weeks ago, the price of crude was hovering around $70/barrel. Now it’s hovering around $80/barrel.

    “So, the crude price also drives the product price. You know, because the importers are importing, they are basing it on the cost of importation plus the freight and other cost elements in terms of local distribution”, he explained.

  • APC top positions: Why Adamu, Omisore lost out

    APC top positions: Why Adamu, Omisore lost out

    • Lack of accountability, poor leadership allegations cause of resignations
    • Kyari, Fuanter take over in acting capacities
    • Al-Makura, Kekemeke may be replacements

    Senators Abdullahi Adamu and Iyiola Omisore left their positions yesterday as national chairman and national secretary of the ruling All Progressives Congress (APC) following complaints about lack of accountability and non-inclusive leadership, it was learnt.

    They were also accused of personalising their positions and sidelining critical organs, particularly the National Working Committee (NWC) and National Executive Committee (NEC).

    Besides, Adamu and Omisore, according to sources, lost out in the power game because of an indictment in the party’s audit report.

    The sources said the chairman had become a source of division in the NEC and NWC.

    Adamu and Omisore came into office in March last year.

    APC National Vice Chairman (Northwest), Salihu Lukman, has consistently accused Adamu of violating the constitution of the party.

    The infractions listed by him included the refusal to tender financial accounts, lack of budget for NEC approval, absence of women, youths and persons with disability wing; refusal to set up committees on establishment, finance, inter-governmental, conflict and reconciliation, and refusal to review the last general election.

    Adamu was alleged to have acted at “variance with President Bola Ahmed Tinubu, APC governors and members of the National Working Committee.”

    Also, the audit report on their tenure was “untidy and suspicious,” the source said.

    But ahead of horse-trading in the post-Adamu era, former Nasarawa State Governor Umar Tanko Almakura may become the next National Chairman, with National Vice Chairman (Southwest), Mr. Isaacs Kekemeke as National Secretary.

    Contrary to speculations of a concession to the Southeast, Southwest was still pushing to retain the post of National Secretary.

    It was learnt that APC leaders have decided to consider those grounded in party politics to lead it.

    While Al-Makura has been a party leader since 1979 when he was the youth leader of the defunct National Party of Nigeria (NPN), Kekemeke was a grassroots party coordinator and a former chairman of APC in Ondo State.

    Sources said although President Tinubu wanted Adamu to be left in his position, many NWC and NEC members disagreed, insisting that the former chairman was “working at cross-purposes with” the President and other party leaders.

    It was gathered that he was advised to resign by some of the leaders of the party.

    The allegations against Adamu were unacceptability of Tinubu’s leadership, alleged contempt for the President, and open dissenting views with the President and APC stakeholders.

    A source said: “Sen. Adamu was never on the same page with President Tinubu. Apart from his often repeated remarks that Tinubu was not his preferred candidate for the presidency, there were some campaigns he didn’t participate in.

    “Adamu’s leadership is seen as bellicose. An example of this is when he publicly disowned the list of principal officers of the National Assembly as announced by the presiding officers who consulted him. 

    “Adamu described the announcement of the list as a mere rumour, casting a slur on the process. He failed to upturn what the leadership of the lawmakers did.

    “There have been unguarded statements by Adamu. Without any medical report, he declared an ailing Ondo State Governor Rotimi Akeredolu as incapacitated, which embarrassed many party leaders, members and others.”

    Another source said Adamu was also in a cold war with some APC governors and members of the National Working Committee (NWC).

    The source added: “Adamu’s conduct and utterances were at variance with President Tinubu, APC governors and members of the National Working Committee.

    “He has been presiding over a divided NWC because he took advantage of his age and past party and executive positions to ride roughshod members. He adopted an authoritarian style. 

    “No NWC member can offer alternative views and he didn’t accord them their rights and privileges as equals in a working committee.

    “When the tension was high, Adamu and NWC members reached a truce on May 3rd with a pledge to allow all the structures to function optimally.

    “But by May 10th, the agreement was deadlocked. Since then, there has been no peace in the NWC.

    “All NWC members were not in sync with Adamu and it was not surprising that they ganged up against him.”

    The audit report on the finances of APC led to pressure on Adamu and Omisore to quit.

    A member of the NWC said: “The financial outlook of APC is untidy. NWC members were not pleased with it.

    “There are so many queries to be answered by the party’s leadership. And no leader, including President Tinubu, can gloss over the discrepancies in APC’s account.”

    Asked why Omisore’s fate was tied to Adamu’s, the source added: “These leaders acted like Siamese twins on all issues, including the financial management of the party.”

    The horse-trading for the offices of the national chairman and the national secretary has started.

    It was learnt that some governors, ex-governors and party leaders were already closing in on Al-Makura as the next national chairman and Kekemeke as secretary.

    A former governor said: “APC governors and party leaders have been meeting on who should lead the party. The permutations so far have been in favour of the national chairman returning to Nasarawa State with ex-Governor Al-Makura highly favoured. We need to demonstrate that we have nothing against the people of Nasarawa.

    “Some of our leaders have been pushing for the retention of the slot in the Southwest with Kekemeke as a favourite.”  

  • We have database of 15m poor Nigerians, says agency

    We have database of 15m poor Nigerians, says agency

    The Federal Government has a database of 15 million poor and vulnerable Nigerians, one of its agencies said yesterday.

    According to the agency, the 12 million households with a combined population of 60 million people, to benefit from the transfer of N8,000 per household per month for six months.

    It will serve as palliative for petrol subsidy withdrawal. The number will be sourced from the agency’s database.

    The money to be shared is the $800  million World Bank facility tied to transfer to the poor to assist them cushion the effects of the hardship arising from the petrol subsidy removal.

    The National Social Safety Nets Coordinating Office (NASSCO) yesterday explained how it sourced the data, and how it will reach the beneficiaries of the money.

    NASSCO added that the process of generating the database, which commenced in 2016,  currently has details of 15 million poor people on its National Social Register (NSR).

    The $800 million  World Bank facility for  NASSP  Scale Up, will be transferred using the database.

    It added that out of the 15 million poor people on its register, only four million have bank accounts.

    NASSCO, however,  stated that the 11 million without accounts would be sensitised to update their information in its database so that the money can be transferred to them. 

    Communications Manager of NASSCO, Joe Abuku, spoke during an interview with The Nation in Abuja.

    How the money will be distributed

    Abuku said: “The transfers will be done directly to the bank accounts and mobile wallets of eligible beneficiaries through payment service providers under the platform of the National Cash Transfer Office.

    “The beneficiaries will be mined from the National Social Register (NSR). The National Social Register holds the database of poor and vulnerable households across the 36 states of the federation and the Federal Capital Territory (FCT).

    “The overall process of identification and registration (called targeting) is managed under the supervision of the National Social Safety Nets Coordinating Office (NASSCO).

    “The National Social Register already has 15 million households which is more than the 12 million the NASSP Scale Up is designed to reach.

    “Each state quota is locked to ensure that no State benefits more than its fair share. The quota for each state is calculated proportionate to its poverty headcount and the inflation rate. The distribution of the quota allocation also takes into consideration the urban and rural dwellers, and the level of effects due to the subsidy removal.

    “While the NSR would serve as the source of data for the benefit distribution, a proportion of the Urban dwellers will be identified through a targeting process that enables them to apply for assistance by responding to SMS prompts using a USSD platform accessible via mobile phones.

    “Once their applications are received for processing and they undergo a validation process, involving a visit to their residence for authentication to establish that they genuinely qualify for assistance, they will be eligible to access this intervention.”

    Abuku added that NASSCO has already designed and tested this technology base approach for the registration of categorical targets called the Rapid Response Register (RRR).

    “The RRR currently has about 3 million validated urban poor across the 36 states   Categorical targeting is suitable for the identification of new population groups for any social assistance program directed at specific interest groups.

    “Most households to benefit from this programme already have bank accounts.  Households without a bank account will access their transfers by way of mobile wallets.

    “Nonetheless, once potential beneficiaries without bank accounts have been identified, they have an opportunity to approach any bank to open their bank accounts and revert to the project with their banking details.”

  • INEC, Tinubu: Abuja residents not superior to other Nigerians

    INEC, Tinubu: Abuja residents not superior to other Nigerians

    • PDP, LP lied on electronicresults collations

    The National Assembly did not create a special status for residents of the Federal Capital Territory (FCT) that will make them superior to those living in other parts of the country, the Presidential Election Petition Court (PEPC) has been told.

    The Independent National Electoral Commission (INEC), President Bola Ahmed Tinubu and Vice President Kashim Shettima told the PEPC that such a claim, made in the petitions by Atiku Abubakar/Peoples Democratic Party (PDP) and Peter Obi/Labour Party (LP), was incorrect.

    They said contrary to Abubakar/PDP and Obi/(LP)’s arguments, neither the Constitution nor the Electoral Act 2022 made the votes of FCT residents superior to those of residents of other parts of the country.

    According to them, the Constitution and Electoral Act also did not make it mandatory that a candidate must score 25 per cent votes in the FCT to be declared a winner even if such a candidate had won the majority of votes in other states.

    INEC, Tinubu and Shettima made this argument among others, in their final written addresses submitted to the PEPC in their defence of the petitions filed by Atiku/the PDP and Obi/LP against the outcome of the February 25 presidential election.

    INEC: no particular section alone can determine winner

    In its written address filed by a legal team, led by Abubakar Mahmoud (SAN), INEC argued that in the interpretation of Section 134 (2) (b) and to determine the true intentions of the draftsmen of the Constitution, the court should examine Section 17(1) & (2) (a) alongside Section 299 of the same Constitution.

    It added that the sole objective of the section was to ensure that a particular segment of the country alone does not determine who is elected President and not to create superior residents and voters.

    Citing many decisions of the Supreme Court and the Court of Appeal, INEC argued that by statutory and judicial authorities, the provisions of the Constitution apply to the Federal Capital Territory (FCT) as if it were one of the states of the federation.

    It added that “the use of the word ‘and’ in Section 134 (2) of the Constitution indicates nothing more than that. In construing two-thirds of the states of the federation, in which a candidate is required to score one-quarter of the votes cast, the FCT is considered as one of the states of the federation. 

    “This point is very critical because there is no other way the draftsmen of the Constitution would have referred to the FCT in Section 134 (2) (b) of the Constitution without the use of ‘and’ seeing that the FCT is not actually a state, but deemed to be a state. 

    “The FCT, beyond being the capital of Nigeria has no special status over and above the other 36 states of the federation to require a candidate in the presidential election to obtain at least 25 per cent of the votes cast in the FCT before being declared winner of the presidential election.

    “Consequently, the only inference that can be drawn with respect to Section 134 (2) (b) is that for a candidate to be deemed duly elected to the office of the President, he must satisfy the requirement of having not less than one-quarter of the votes cast at the election in each of at least two-thirds of the states of the federation, including the FCT. 

    “Any interpretation contrary to this will only result in an absurdity and will be against the spirit of equality and fairness well entrenched in the constitution,” INEC said 

    All votes are equal, say Tinubu, Shettima

    Tinubu and Shettima also made a similar case in their joint final written addresses in respect of the two petitions.

    In the address by their legal team, led by Chief Wole Olanipekun (SAN), Tinubu and Shettima noted that an election is about votes and voters, and when votes and voters are mentioned in any part of the world, there is no superiority of votes or voters, as all votes and voters are equal.

    They added: “The nagging question arises, going by the petitioners’ posture, that is, assuming a candidate scores majority of the votes cast in all the 36 states and does not secure 25per cent in the FCT, does the Constitution then expect the absurdity that such a candidate will not be declared the winner? The answer will naturally be in the negative.”

    Citing several provisions of the Constitution that imply that states are superior, in many ways, to the FCT, they contended that “it cannot be imagined that the FCT is superior to the states, in terms of votes or voters or any other consideration whatsoever.

    “More specifically, it has been held by our superior courts in a litany of decisions that the FCT is not superior by any means to any state of the federation. 

    “Now, Section 66 of the Electoral Act, which refers to sections 133, 134, and 179 of the Constitution speaks of election to the office of President or Governor, meaning that the position at the federal level, as anticipated and contemplated by the Constitution, rhymes with what obtains at the state level, including the votes cast at each of the state capitals, without any discrimination, as between the votes and voters in each state capital and the votes and voters outside the state capitals. 

    “By the imperative of this statutory provision, it cannot be argued that the votes and voters at the FCT are more superior to those of other voters in other states of the federation since the Constitution does not so provide,” they said.

    Tinubu and Shettima then urged the court to hold that “in any election where the electorate exercises their plebiscite, there is neither a ‘royal’ ballot nor ‘royal’ voter, and that residents of the FCT do not have any special voting right over residents of any other state of the federation, in a manner similar to the concept of preferential shareholding in Company Law.”

    How petitioners failed to prove their case, by umpire

    In its two addresses, INEC also addressed other aspects of the petitions and urged the court to dismiss them on the ground that the petitioners failed to prove their cases.

    It faulted the petitioners’ claim of non-compliance and irregularities, arguing that the election was properly conducted in substantial compliance with the Electoral Act, applicable regulations and guidelines.

    INEC stated that the result of the election, as it declared, was the actual outcome.

    On both sets of petitioners’ allegations of non-qualification against Tinubu and Shettima, INEC argued that the withdrawal notice served on it by the APC, indicating that Shettima was no longer a candidate for the Borno Central Senatorial District, was enough to fault the claim that he had double nominations.

    It also referred to a judgment delivered on May 26 by the Supreme Court in the case by the PDP against INEC and others, which it argued had effectively resolved the issue.

    As it relates to Tinubu, INEC argued that the petitioners’ claim that he provided false information to INEC in his Form EC9 “is statute-barred being a pre-election matter and cannot be ventilated in the instant action which bothers on the election held on the 25th day of February 2023.”

    It added that should the court find “that it is a pre-election matter, then the allegation of dual citizenship which is based on Form EC9 is also affected and cannot be litigated upon at this time.

    ‘Why dual citizenship claim does not disqualify Tinubu’

    The electoral umpire also argued that the matter of dual citizenship was not a bar to Tinubu’s qualification to run for office.

    It said: “There are several authorities to the effect that the possession of dual citizenship does not disqualify a person from contesting an election in Nigeria. What the Constitution prohibits is the declaration of allegiance to such other country. 

    “In the instant case, the petitioners have not by credible, cogent and direct evidence shown and established the fact that the 2nd respondent (Tinubu) pledged allegiance to any other country,” INEC said.

    On the allegation of the previous conviction of the 2nd respondent, INEC argued that the petitioners failed to prove that Tinubu was convicted of a criminal offence.

    It added: “Notably, in Section 137 (1) (d) of the Constitution, the prescription of ‘fine’ as a disqualifying factor for a presidential candidate is hinged on a “sentence”. 

    “Interestingly, 1st petitioners’ witness (PW 1) stated clearly under cross-examination that the proceedings in Case No: 93C 4483 relied upon by the petitioner was a ‘civil forfeiture proceedings’ and there was no charge or conviction. 

    “Thus, the petitioners failed to prove this allegation and we urge the court to so hold. We urge the court to resolve this issue in favour of the 1st respondent (INEC) and hold that the 2nd and 3rd respondents were qualified,” it said.

    We didn’t deploy electronic collation system, says INEC

    The electoral umpire contended that the arguments by the two sets of petitioners that it did not comply with the Electoral Act and other regulations and guidelines in the conduct of the election were based on false comprehension of what the laws said.

    It stated that contrary to the petitioners’ claim, it did not deploy any electronic collation system as the collation of results in the last presidential election was done manually.

    In relation to the petition by Atiku/PDP, INEC noted “all the petitioners’ witnesses appear to agree that voting procedure prescribed in the 1st respondent’s (INEC’s) Regulations and Guidelines for the Conduct of Election, 2022 were duly complied with.

    “The main complaint of the petitioners was the inability of the Presiding Officers to upload the polling unit results to the 1st respondent’s result INEC Result Viewing portal (iReV). 

    “The evidence before the court also shows that though the petitioners challenged the election on the basis that the polling unit election results were not uploaded on the iReV, they alleged corrupt practices in Sokoto, Kano, Kogi, Borno, Lagos and Rivers State and entry of wrong scores/results in 22 states to wit: Abia, Anambra, Bauchi, Delta, Ebonyi, Edo, Enugu, Gombe, Imo, Jigawa, Kano, Katsina, Kebbi, Kogi, Lagos, Nasarawa, Niger, Ogun, Ondo, Plateau, Rivers and Taraba states.

    “They called only 27 witnesses. None of the witnesses had direct knowledge of what transpired in the 176,800 polling units spread across the 36 states of the Federation and the Federal Capital Territory, Abuja.”

    INEC argued further that even where no results are uploaded on the iReV and the hard copy was unavailable, recourse may still be had to hard copies with the Nigeria Police and party agents. 

    It added: “The manual collation adopted by the 1st respondent in the election was, in fact, established in evidence through the testimonies of petitioners’ witnesses (PWs) 9, 10 and 42 to the effect that hard copies of the exact results from the polling units were taken to the collation centres for the purpose of collation and we urge the court to find same as a fact. 

    “Assuming, but not conceding, that such obligation to electronically transmit results of the election in real-time for use in the collation process does exist, we submit that the petitioners failed to lead credible evidence to support their claim on the substantial effect of the alleged incidents of non-compliance pleaded and/or the corrupt practices alleged.”

    In relation to the petition by Obi and LP, INEC noted that “in proof of their petition, the petitioners, called 13 witnesses. Of these, one gave evidence on the allegation that the 2nd and 3rd respondents (Tinubu and Shettima) were not qualified to contest the election. 

    “The remaining 12 witnesses gave evidence on the allegations of non-compliance with the Electoral Act, 2022. 

    “It is important to observe that despite allegations of inflation and suppression of votes and manipulation of election results, which, in fact, informed the decision of petitioners to plead, in paragraph 79 of the petition, that they are adopting all their depositions in respect of the alleged non-compliance as acts of corrupt practices; none of the witnesses gave any direct admissible evidence of these allegations.”

  • BREAKING: APC NWC announces Adamu, Omisore’s resignations

    BREAKING: APC NWC announces Adamu, Omisore’s resignations

    The National Working Committee (NWC) of the All Progressives Congress (APC) has announced the resignation of the party’s National Chairman, Senator Abdullahi Adamu.

    The acting National Chairman of the party, Senator Abubakar Kyari, who confirmed Adamu’s resignation, said the National Secretary, Senator Iyiola Omisore, also resigned.

    Read Also: I’m proud to be an APC youth, says Eniola Badmus

    He said he takes over as acting chairman while Deputy National Secretary, Barrister Festus Fuanter takes over as acting Secretary.

    The meeting also announced the postponement of the National Caucus and National Executive Committee (NEC) meetings slated for Tuesday and Wednesday.

    Seventeen members of the committee were in attendance with only National Publicity Secretary, Felix Morka and the National Women Leader, Dr Betta Edu absent after due permission.

    Details Shortly…

  • Senate: N70bn allocation to National Assembly not gift to lawmakers  

    Senate: N70bn allocation to National Assembly not gift to lawmakers  

    The N70 billion allocated to the National Assembly from the  N819 billion Supplementary Appropriation Act  Bill is not a “gift” to Senators and House of Representatives members, the Senate has clarified.

    It said that  reports by  a section of the media that the National Assembly members “padded”  the bill in their favour were “spurious, inaccurate and irreverent misinterpretations.”

    President Bola Tinubu had on Thursday sought a review of the bill to enable him to deploy N500 billion for palliative measures and the balance of N319 billion on other Federal Government needs.

    The Senate passed the bill the same day with the following as a breakdown of the N319 billion: N185 billion for rehabilitation of roads impacted by floods; N192 billion for fixing farmlands damaged by floods; N35 billion for National Judicial Commission(NJC); N10 billion for Federal Capital Territory projects and N70 billion for the   National Assembly.

    Chairman Senate Committee on Media and Public Affairs, Senator Yemi Adaramodu (APC – Ekiti South), said in a  statement at the weekend that the  N70 billion was not meant for individual federal lawmakers but for the  ”facelift” of the National Assembly.

    Adaramodu added that presently, some lawmakers bring their personal effects like “chairs and tables” to the makeshift chamber of the Assembly pending the completion of the undergoing renovation of offices in the edifice.

    According to the Ekiti South lawmaker, “a visit to the suites, offices and the general structures of the National Assembly complex  reveals a yawning gap and the need for exigent attention.”

    He said that it was necessary for people to understand that  Supplementary Appropriation Act Bill passages are a  part of the constitutional duties of the National Assembly.

    The statement reads: “After the passage of the Supplementary Budget to accommodate funding for Federal Government’s palliatives for the Nigerian public, among other urgent national demands, the socio-political space has been inundated with spurious, inaccurate and irreverent misinterpretations.

    “Suffice to say that the passage is part of the absolute constitutional duty of the Senate. We would, therefore, not wish to join issues with the mischief and misrepresentation that a portion of the just passed Amendment Act that appropriated N70 billion was a ‘gift’ to the Legislators. 

    “Many Senators had to bring their chairs, tables and electronics and in many cases, do sundry repairs.

    “The so-much debated allocation will not be paid to any Legislator. This will be managed by the National Assembly’s bureaucracy.

    “It’s pertinent to also note that the National Assembly complex does not house only the Legislators. There are thousands of workers and service providers, whose working environment needs a face-lift, and/with necessary tools.

    “Since the Assembly complex is not owned by legislators who are merely political birds of passage, such allocation cannot be termed by anyone as a palliative to the legislators.

    “The alleged padding of the palliative budget by the National Assembly only exists in the minds of those who are all out to discredit the 10th Assembly. There is nothing like padding as being alleged.”

    The Senate Spokesman enjoined Nigerians to view the  National Assembly as partners in the progress.

    “The National Assembly is the soul of democracy and the 10th Senate shall join hands with other arms of government and forward-looking Nigerians to sing new songs of progress, development, safety and all-round economic recovery and growth.”

    Just as  Adaramodu made the clarification and sought the understanding of the public, a group, the Socio-Economic Rights and Accountability Project (SERAP), called on the National Assembly to “repeal the 2022 Supplementary Appropriation Act and reduce its budget.  

    This, it said, should be done  “to reflect the current economic realities in the country and address the impact of the removal of fuel subsidy on the over 137 million poor Nigerians.”

    Read Also: Senate: Benin-Auchi-Lokoja road a mess

     SERAP argued that at a time Nigerians are passing through hardship, it amounts to insensitivity for the National Assembly to spend  N40 billion on bulletproof Sports Utility Vehicles(SUVs)  on its principal officers.

     The organisation urged the federal lawmakers to request President   Tinubu to present a fresh supplementary appropriation bill, to redirect the N40 billion for SUVs and N70 billion for National Assembly rehabilitation to address the issue of over  20 million out-of-school children in Nigeria.

     Also, a Senior Advocate of Nigeria(SAN), Femi Falana, described the reported plan by the National Assembly to spend N40  billion on bulletproof SUVs as illegal and contemptuous.

    Falana, who chairs the   Alliance on Surviving Covid 19 and Beyond (ASCAB), said the decisions  of the National Assembly    contravened  Section 70 of the 1999 Constitution  :

     The section states: “A member of the Senate or of the House of Representatives shall receive such salary and other allowances as Revenue Mobilisation Allocation and Fiscal Commission may determine.”

     Falana  urged the Revenue Allocation Mobilisation and Fiscal Commission (RMAFC) to take urgent steps to prevent the National Assembly from further usurping its constitutional functions

    He reminded the National Assembly of court decisions which stopped its members from fixing their salaries, and allowances amongst other emoluments that have not been set aside.

    Bishop tasks FG on disbursement of  N8,000 palliative

    Meanwhile, the   Auxillary Bishop of Abuja Archdiocese, Anslem Umoren, has urged the Federal Government to ensure even disbursement of the N8,000 palliative to the poor Nigerians.  

    Umoren made the call on the sidelines of the Mass and Charter presentation ceremony of Serra Club in  Abuja yesterday.

    He said: “I want to call on the government to do all it planned to alleviate the sufferings of the people, it cannot be business as usual.

    “I don’t want to believe all that I am seeing in the media is true; 8,000 households, which data are you using? who is going to benefit from it? we are over 200 million.

    “They need to rethink what they are trying to do to make sure that what they are doing will reach out to everyone, otherwise it will be the same as before.”  

  • Tinubu: Africa must be active to compete globally

    Tinubu: Africa must be active to compete globally

    • •Leaders pledge commitment to integration, cooperation

    President Bola Ahmed Tinubu yesterday explained how Africa can maintain its relevance in a competitive global arena.

    He said African countries should be active to compete globally, affirm and defend their continental unity, and reject what he described as “a new scramble for the continent”.

    President Tinubu, who is the chairperson of the Economic Community of West African States (ECOWAS) Authority of Heads of States and Government, said Africa should be proactive, insisting that the odds against the continent do not require passive leadership.

    He rejected the notion of a new scramble for Africa at a time the historic plundering and exploitation of the past should be consigned to the heap of history.

    Tinubu spoke in Nairobi, Kenya, during the Fifth Mid-Year Coordination Meeting of the African Union (AU), the Regional Economic Communities (RECs), the Regional Mechanisms (RMs), and African Union Member States.

    According to a statement by his Adviser on Special Duties, Communication and Strategy, Mr. Dele Alake, the President also spoke on the twin challenges of terrorism and the reversal of democratic changes of government.

    To address the twin challenges, Tinubu said ECOWAS Authority was set to strengthen its Standby Force for deployment to fight terror and resist coups.

    President Tinubu highlighted the progress made by ECOWAS in its integration process, including trade, free movement of persons, investment promotion, infrastructure development, and security.

    In his speech, entitled: “Address on Status of Regional Integration in ECOWAS,” he emphasised the need for Africa to overcome its challenges and work towards a prosperous future, focusing on inclusive growth, good governance, and leveraging the opportunities provided by the African Continental Free Trade Area (AfCFTA).

    Urging African leaders to foster good governance to ensure a prosperous future for the continent, President Tinubu said: “As Africans, we forge ahead, no matter the barriers thrust before us.

    “The world we inhabit is often unkind and uncertain. History and current global difficulties argue against our future success.

    “Lessons of the past few years teach us that the world economy can be disrupted in ways that halt progress and invite downturn. 

    “Our nations can suddenly find themselves in dire situations if we choose to be passive observers of our fate.”

    Rejecting the notion of passivity, he said Africa will not permit the repeat of scramble, exploitation and plundering of the continent.

    On peace, security, and stability, the President said the sub-region should be liberated from terrorism and anti-constitutional changes in government.

    Read Also: Akume will deliver on Tinubu, Nigeria’s expectations – Mutfwang

    He added: “We sit here in meaningful discussion of vital economic matters. Yet, it will be impossible to bring full meaning to what we attempt unless we give due consideration to the instability and conflict that now scar many of our nations.

    “The fullness of the integration we seek will elude us as long as several of our nations stand in the mist on violence and war.

    “The trade and commerce we talk of today refers to valued goods and services that improve life. 

    “The trade and commerce these nations suffer is of destruction and disorder that takes lives and steals opportunity.

    “We cannot integrate Africa and attain the prosperity we seek while our nearby brothers and sisters suffer in pain and anguish; they should not suffer. We must advance as one continent toward peace and prosperity.

    “Otherwise, we risk the creation of two or more Africa, one a select group of nations moving steadily while the rest remain trapped in the age-old mire of poverty, conflict and lack of hope. 

    “It is very clear that in the area of peace, security, and stability, our region is confronted with the twin challenges of terrorism and reversal of democratic gains through undemocratic changes of government.

    “To address these challenges, the ECOWAS Authority, which I have the honour to chair, has given directive regarding the enhancement of the role of the ECOWAS Standby Force for deployment to fight terrorism and undemocratic changes in government.”

    President Tinubu added: “The Authority has also resolved to raise our funding internally to finance the peace support operations in our community. Meanwhile, we have continued to monitor the transition programmes in Mali, Burkina Faso, and Guinea.”

    President Tinubu recounted that during the recently concluded ECOWAS Summit in Bissau, West African leaders resolved to maintain engagement with Mali and Burkina Faso to assiduously work towards the implementation of the 24-month transition calendars agreed with ECOWAS.

    To assist Burkina Faso and Mali in defending their territories from terrorists, he said ECOWAS had decided to provide support for their security agencies.

    He appealed to international partners to provide the necessary support that will ensure the restoration of democratic order in these West African countries.

    On trade, President Tinubu said ECOWAS had achieved the Free Trade Area and was working on establishing the Customs Union and Common Market.

    However, he expressed concern about the low level of intra-community trade among member-states, noting that the European Union (EU) remains the major trading partner for the region, followed by Asia, North America, and the rest of Africa.

    Highlighting efforts made by ECOWAS to consolidate the gains of its trade liberalisation scheme and support the implementation of the AfCFTA, he said the ECOWAS Commission had been assisting member-states in the negotiations, ratification, and implementation of the AfCFTA.

    He noted that 13 of the 15 ECOWAS member-states have ratified the agreement.

    On the free movement of persons, President Tinubu said ECOWAS had commenced action towards the implementation of the Harmonized Visa-Regime (ECOVISA) to facilitate the free movement of non-ECOWAS citizens.

    On regional infrastructure development, President Tinubu reaffirmed ECOWAS’ focus on building regional infrastructure, including the Lagos-Abidjan Corridor Highway, to promote economic activities and integration.

    He added: “The Feasibility and Preliminary Design and Studies show a significant investment cost of nearly US$15 billion for the whole highway with an average economic rate of return of 15 per cent per annum. 

    “In the same vein, preparations are underway for the development of the other corridors, namely the Abidjan-Praia-Dakar.”

    On intra-regional cooperation, the President said a joint border post between Nigeria and Cameroon was recently commissioned and handed over in November 2022 to the authorities of the two countries.

    He described the project as a bridge between ECOWAS and ECCAS (Economic Community of Central African States) and a solid foundation for future cooperation and integration between the regions and ultimately the African continent.

    President Tinubu also provided an update on the energy sector, expressing delight that several generation and interconnection projects had been implemented within the region.

    According to him, with the completion of the electric interconnection between Cote d’Ivoire-Liberia-Sierra Leone- Guinee (1,300 km) and between Senegal-The Gambia-Guinee Bissau and Guinee (1,700 km), all the 15 countries in West Africa have now been interconnected.

    He said: “The completion of the Information and Coordination Centre of the West African Power Pool (WAPP) will enable member-states to buy and sell electricity in the region as this centre will act as a regional system operator within the framework of the regional electricity market.”

    The ECOWAS chairperson also provided updates on investment promotion and the ECOWAS Cybersecurity Agenda to combat cybercrime and improve cybersecurity capabilities in member states.  

  • Inflation nears 24 per cent rate

    Inflation nears 24 per cent rate

    Rising food and energy costs combined with currency depreciation has pushed Nigeria’s inflation rate to the highest point in 18 years.

    Inflation rate, which stood at 22.41 per cent in May, rose for the sixth consecutive month to around 24 per cent in June, according to average projection by many analysts.

    Economic intelligence reports by many economic and finance firms yesterday indicated that inflation rate had risen further as Nigerians grapple with continuing food shortage, amid rising energy costs and decline in value of naira.

    But most analysts were optimistic that the ongoing fiscal and monetary reforms by the government would moderate costs of living in the foreseeable future, with the economy expected to gain a strong traction in the medium to long term.

    President Bola Tinubu had last week declared a state of emergency on food security with a bouquet of direct policy interventions in food production, processing, storage, transportation and pricing. These include immediate release of fertilisers and grains to farmers households to mitigate the effects of the subsidy removal.

    The government also plans a National Commodity Board that will review and continuously assess food prices as well as maintain a strategic food reserve that will be used as a price stabilisation mechanism for critical grains and other food items. Other plans include activation of some 500,000 hectares of land to increase the availability of arable land for farming, active irrigation through all river basins to ensure all-year round farming, increased security for farms and creation of ranches among others.

    Ahead of the release of the official inflation report by the National Bureau of Statistics (NBS), independent consumer surveys and econometric models indicated that inflation remained high, driven by general increases across several baskets of living costs. The NBS is expected to release its official inflation report for June 2023 today.

    Inflation rate had consecutively from 21.9 per cent in February 2023 to 22.04 per cent, 22.22 per cent and 22.41 per cent in March, April and May 2023.

    Financial Derivatives Company (FDC), a leading independent economic and finance research firm, which took the lower band of the projections, stated that inflation could rise to 22.8 per cent in June, still within the highest point in 18 years.

    FDC, which based its projection on time series model and survey of major retail markets in the nation’s economic focal point, Lagos, said headline inflation is now about 13.8 per cent above the upper bound of the Central Bank of Nigeria (CBN)’s 6.0 to 9.0 per cent target.

    According to FDC, the sustained rise in the general price level was mainly due to the spike in the food basket due to the Muslim’s festival of Eid ul Kabir, planting season effect and higher transport and logistics costs owing to the removal of the petrol subsidy.

    FDC stated that its econometric model indicates that “inflation risks are elevated and an inflection point may not be reached anytime soon”.

    Cordros Securities stated that it expected the headline inflation to rise by some 217 basis points to 24.58 per cent, within the range of average prediction by several analysts.

    “Our expectation is hinged on the effective PMS subsidy removal and liberalisation of the foreign exchange (forex) market fueling pressure on the core basket amid the below-average off-season harvest and Salah festivities intensifying food prices,” Cordros Securities stated.

    Analysts at Cordros Securities however said “government reforms and policies are expected to reap benefits in the medium-to-long term if they are maintained”.

    Afrinvest Securities projected that inflation would rise to 25.04 per cent in June 2023, driven by broad-based pressure across the consumer price index (CPI) components.

    Arthur Steven Asset Management Limited expected inflation rate to rise by some 200 basis points to about 24.5 per cent.

    Read Also: Lagos moves to tackle rising inflation through agriculture

    Highcap Securities also projected increase in inflation rate citing the prevailing macroeconomic situation.

    Analysts meanwhile agreed that policy reforms by the new government were justifiable for the long-term benefit of the economy.

    According to analysts, while policy reforms such as removal of petrol subsidy and abolition of multiple forex rates would be painful for households and businesses in the short term based on an anticipated squeeze in consumer wallets and increased production costs, the medium to long-term benefits would reposition the economy for sustainable growth.

    “The subsidy removal, in line with the Petroleum Industry Act (PIA), was justified by significant declining fiscal power over the years, for instance in first half 2023 budgeted subsidy spend was N3.4 trillion while baseline budget deficit estimation for the year is N11.7 trillion, and need to allow market forces hold more sway in the oil sector,” Afrinvest Securities stated.

    While expecting inflation to remain elevated in the third quarter due to the lingering food shortages, currency depreciation and the impact of the fuel subsidy elimination, FDC expressed optimism on the possible positive effect of good policy reforms.

    According to FDC, policy reforms play a significant role in shaping inflation expectations in Nigeria.

    “With properly designed and effectively implemented policy reforms, inflation expectations can be anchored at lower levels, thereby reducing uncertainty and facilitating economic planning and investment decisions.

    “In Nigeria, major policy reforms have been announced and implemented in the last month, which will most likely drive inflation expectation,” FDC stated.

  • President set to unveil security plan, says Shettima

    President set to unveil security plan, says Shettima

    • •VP on condolence visits in Kano, Katsina

    In the next few weeks, President Bola Ahmed Tinubu’s administration will unveil its agenda to address insecurity and poverty, especially in the North, Vice President Kashim Shettima has said.

    The Vice President announced this while addressing reporters during a condolence visit to Kano State.

    He noted that the security situation in the Northwest would have to be addressed through carrot and stick approach.

    Shettima, who was accompanied by Deputy Senate President Barau Jibrin, among others, was in Kano to commiserate with the government and people of the state on the passing of elder statesman, Alhaji Abubakar Imam Galadanci.

    A statement by the Director of Information in his office, Mr. Olusola Abiola, said Vice President Shettima announced that the President would soon unveil the Pulaaku Solution, a Fulani code of conduct, to restore peace and security in accordance with the ethnic nationality’s ethos.

    The statement said the plan would be centered on abstaining from anything that could lead to disgrace or embarrassment of the race.

    Speaking on President Tinubu’s plan to address challenges confronting Nigerians, Shettima said: “The President is determined to define the meaning and concept of modern governance and the crisis we have in the Northwest, which is further accentuated by poverty.

    “The social exclusion is also something that the President is determined to frontally confront. In the coming weeks, he is going to unveil the Pulaaku Solution.

    “Unless we want to engage in an endless war of attrition, there cannot be a military solution to the crisis in the Northwest. There has to be a kinetic and non-kinetic solution.

    Read Also: Tinubu will prioritise girl-child education, gender empowerment, says Shettima

    “In the next couple of weeks, we will unveil the Pulaaku Solution, which will address the grievances and social exclusion of our Fulbe cousins in the northwest and towards addressing the root causes of all the banditry and insurgency in the nation.”

    On arrival in Kano, the Vice President was received by Governor Abba Yusuf, and he and his delegation proceeded to the home of the Emir of Bichi, Alhaji Nasiru Ado Bayero, where he commiserated with the traditional rule on the death of the late Imam Galadanci.

    He passed President Tinubu’s condolences to the bereaved family.

    From the Emir’s palace, Shettima visited the family of the late Galadanci where he was received by Prof. Shehu Galadanci and Air Vice Marshal Nura Imam (retd.) on behalf of the extended family.

    On behalf of President Tinubu, the Vice President prayed Allah to grant the deceased eternal rest and strengthen the family.

    Prof. Galadanci stressed the need for unity among northern leaders and urged fellow Nigerians to always support the Tinubu administration in prayers and actions to ensure

    From Kano, Shettima flew to Katsina on another condole visit to renowned businessman, Alhaji Dahiru Mangal, on the passing of his first wife, Hajiya Aisha Dahiru, on Saturday in Abuja.

    The late Hajiya Mangal has been buried according to Islamic rites.

    Other members of the Vice President’s delegation included a member of the House of Representatives from Kano, Abdulmumin Jibrin, and the Senior Special Assistant to the President on Political Matters, Alhaji Ibrahim Masari.

  • Reps panel to screen Service Chiefs Monday

    Reps panel to screen Service Chiefs Monday

    The House of Representatives ad-hoc committee set up to screen the recently appointed Service Chiefs will engage the appointees on Monday.

    The panel, headed by the chairman of the Committee on Defence in the 9th House, Rep. Babajimi Benson (APC, Lagos), was constituted last Tuesday.

    Speaker Abbas Tajudeen, who announced the setting up of the panel at plenary, said all the eight principal officers of the House from the majority and minority parties would be part of the ad-hoc committee.

    The Majority Caucus has Prof. Julius Ihonvbere (APC, Edo) as Majority Leader; Abdullahi Ibrahim Halims (APC, Kogi), Deputy Majority Leader; Bello Usman Kumo (APC, Gombe), Chief Whip; and Adewunmi Oriyomi Onanuga (APC, Ogun) as Deputy Chief Whip.

    The Minority Caucus equally has Kingsley Chinda (PDP, Rivers) as Minority Leader; Aliyu Sani Madaki (NNPP, Kano), Deputy Minority Leader; Ali Isa (PDP, Gombe), Minority Whip; and George Ozodinobi (LP, Anambra) as Deputy Minority Whip.

    Read Also: BREAKING: Senate okays appointment of Service Chiefs

    Consequently, the ad-hoc panel has scheduled a screening session with the newly appointed Service Chiefs on Monday, July 17.

    The appointees billed for screening by the committee are Maj. Gen. C.G Musa as Chief of Defence Staff; Maj. Gen. T. A. Lagbaja as Chief of Army Staff; Rear Admiral E. A. Ogalla as Chief of Naval Staff and Air Vice Marshal H.B. Abubakar as Chief of Air Staff.

    President Bola Ahmed Tinubu had on June 19 approved the immediate retirement of the former Service Chiefs, the ex-Inspector-General of Police and the ex-Comptroller-General of the Nigeria Customs Service and appointed their successors.

    The President had conveyed the nominations and request for confirmation to the National Assembly via a letter dated July 5, 2023, addressed to the President of the Senate, Senator Godswill Akpabio and Speaker Tajudeen.