Category: Lead

President-Elect Asiwaju Bola Ahmed Tinubu said he cannot commit to refunding Rivers Governor Nyesom Wike for the flyover project commissioned in the State on Wednesday because he has not been sworn in.

While commissioning the Rumuola-Rumuokwuta flyover on Wednesday, Tinubu told Wike: “I owe you nothing,” a remark that generated a social media uproar.

Clarifying his statement during a banquet in his honour on Wednesday night, Tinubu said it was just an exchange of banters with Wike.

He said he doesn’t respond to social media criticisms, noting there is no name he has been called on the platforms.

Read Also: Why I didn’t attend Tinubu’s project commissioning in Rivers – Tonye Cole

According to him: “I exchanged a banter with Gov Wike, if you take me seriously, (it’s left to you). The truth is, I’m a President-elect. I have no signature for expenditure until sworn in. How can I make a commitment? I cannot sign a dime of Nigeria money or expenditure now. There can only be one president at a time.

“If you ask me to go and commit to things that are mere expectations and cannot be fulfilled, I believe in fulfilling promises, that’s why I’m here. And we have to do it for Nigeria. I thank you all for the support you gave me during the election, but I’m still on a countdown.

“If I sign anything for you now and commit to it, I can’t pay. For that flyover, how can I pay, personal? That’s not realistic.

“I hope that clears the social media fears. I don’t respond to (social media talks). There is no name they’ve not called me on (social media). It’s a free speech society and around the world.”

The governorship candidate of the All Progressives Congress (APC) in Rivers state, Tonye Cole, has explained why he was absent during the state visit of the President-elect, Asiwaju Bola Tinubu.

The Nation reports that Tinubu is in the State on a two-day visit to inaugurate the Rumuola-Rumuokwuta Flyover and the Magistrate Court Complex delivered by Rivers Governor, Nyesom Wike.

Cole claimed he was absent during Tinubu’s visit because he was not invited.

He said Governor Wike should have informed the APC in Rivers state that he was inviting Tinubu and would want the party to be part of the programme.

He stated this while speaking in an interview on Arise TV on Thursday, monitored by the Nation.

Read Also: Tinubu hails Wike for championing fairness, justice, unity

He said:  ”I will describe the visit from two sides. First side of it is the President-elect. As a President-elect of Nigeria, he has the right to go anywhere. And the Rivers State Government invited him, and he has come, honoured that invitation, and has come to Rivers State as a President-elect; with that, we have no problem at all.

”Where the issue is is that the Governor of Rivers State, Nyesom Wike, ought also to be the governor of all Rivers people. And one of the things that he should have done if he is inviting the President-elect, who is the President-elect of all Nigerians, would have been to call us as APC in Rivers State to inform us that he is inviting the President-elect and would want us to be part of that programme.

”We never got any invitation, I was never invited personally, I was not invited in my private capacity as a candidate of the party, neither was our party, APC, in the State invited to any of those things;

“…and I believe that is where the difference between the President-elect acting in his capacity as President-elect for all Nigerians and Governor Wike acting in his capacity as a governor of just a particular Rivers people. That is where our disagreement stands.”

• President-elect hails Wike for believing in justice, fairness
• Port Harcourt standstill for Asiwaju

President-elect Bola Ahmed Tinubu yesterday gave a hint about what will be his style of governance after his inauguration on May 29.

He promised to enthrone a government of equity, fairness and justice, which will mobilise Nigerians, irrespective of ethnicity and religion, for the tasks of development.

He ruled out the marginalisation of any zone, assuring that he would work with every component unit for public good.

Tinubu spoke in Port Harcourt, the Rivers State capital, where he inaugurated the Rumuokwuta/Rumuola Flyover Bridge, a project implemented by his host, Governor Nyesom Wike.

Tinubu, who is on a two-day visit to the Southsouth state, said: “I will not marginalise any region, but will leave legacy projects across the length and breadth of Nigeria.”

The President-elect praised Wike for his development strides, particularly for the 12 flyovers constructed across the capital city, saying posterity would be kind to him.

He said with his accomplishments, Nigeria would need the outgoing Rivers governor in higher capacities.

There was excitement as the aircraft conveying the President-elect landed at the Port Harcourt International Airport, Omagwa, around 10 am.

Tinubu was accompanied by the Speaker House of Representatives Femi Gbajabiamila, Governors Abubakar Badaru (Jigawa), David Umahi (Ebonyi), Abdulrahman Abdulrazaq (Kwara), Seyi Makinde (Oyo) and Hope Uzodinma (Imo).

Former Osun State Governor Chief Bisi Akande and pioneer national Chairman of the All Progressives Congress (APC) also accompanied president-elect.

Also at the ceremony were former Governors Chief James Ibori (Delta), Dr Kayode Fayemi (Ekiti), Chief Timipre Sylva (Bayelsa), Adams Oshiomhole (Edo), and Chief Ayo Fayose (Ekiti).

Others include Rivers State Governor-elect Sim Fubara, his deputy, Prof. Ngozi Odu, Minister of Youth and Sports Development, Mr Sunday Dare, One time Lagos State Information and Strategy Commissioner Dr Dele Alake, former Attorney-General and Minister of Justice Bello Adoke, and chairman, Board of Trustees (BoT) of the Tertiary Education Trust Fund (TETFUND) Kashim Ibrahim Imam.

Also present were traditional rulers, industries chiefs and religious leaders.

Also in attendance were all the 23 local government chairmen in Rivers State, who added colour to the event.

A public holiday was declared in the state by Wike to enable residents welcome the former Lagos State governor.

The airport road was decorated with various posters, banners and flyers. Many trooped out to catch a glimpse of Tinubu, who received overwhelming votes from the state during the February 25 poll.

Alighting from the plane, Tinubu waved at the crowd, which erupted in jubilation as shouts of ‘Jagaban’ filled the air.

The venue instantly became congested. Security agents had a hectic time controlling the crowd.

An elated Tinubu thanked Wike and the people of Rivers State for their support for him.

He said the Rivers governor was faithful to the project of rotation, zoning and power shit to the South to foster national unity.

Tinubu, who publicly acknowledged Wike’s contribution to his victory at the poll, said as the leader of G-5 Governors, his actions and utterances promoted the virtues of fairness, justice and unity.

He said he was in the state in line with the promise he made during the campaigns in Rivers, saying: “If you make a promise, you keep it.

Tinubu said: “He is, indeed, a man of great integrity. He did not choose to serve his own interests, rather, the interests of the nation and the people of Rivers State. I thank him for his selfless leadership.”

Emphasising the importance of Wike’s contributions to his victory, Tinubu added: “It is an honour and privilege to be in your midst today. I am a very happy man. If you talk of character you can say Wike is very dependable. I went through a gruesome campaign, fought hard, supported by many of you and I won fair and square.

“Nyesom, I say thank you for your contributions to my victory. I couldn’t have done it without some structural support. In his Excellency (Wike), I see a man of principle. He took a principled stand that the Presidency must return to South.

“And he has the courage to stand by his conviction not minding whose ox is gord. He is indeed a man of great integrity. He did not choose to serve his own interest, rather the interest of the nation. You promoted unity. You promoted fairness. You championed justice.

“There was so much gossip and speculation. But you stood your ground. Upon the completion of this flyover and my invitation to inaugurate this project, is another way of building bridges. It is on the strength of your character that I stand to fulfill the promise I made to you during the campaign”.

Wike’s request that the incoming Tinubu administration should refund Rivers’ money spent on the reconstruction of federal roads.

He advised the incoming governor Fubara to lobby him, saying: “you must lobby me to collect (the money)”.

Tinubu said Wike should look forward to a new pastime, which is dialogue on ‘Project Nigeria’.

Tinubu commended Oyo State Governor Seyi Makinde for partnering with Wike.

He also extolled the virtues of a former Rivers Governor, Peter Odili, whom he described as “dear brother, friend, colleague, a developer of human beings and a man of integrity.

Wike drew the attention of the Federal Government to the need to amend its procurement law to end incessant abandonment of projects.

He said that the current procurement law only allowed for about 15/30 percent to be paid as mobilisation fee to a contractor.

Such meager sum, he said, usually never allow the contractor to make appreciably progress on the project before being caught up by inflation and high cost of materials, which eventually required variation of the contract terms.

Wike said when he noticed a similar snag in the procurement law in Rivers State, on assumption of duties, he interfaced with the Speaker of the House of Assembly, who worked together with other lawmakers to amend the law.

Wike emphasized that his administration got the latitude to pay an upward of 70 percent mobilisation fee to contractors handling various projects in the state.

The governor noted that such practice had led to the great accomplishment recorded in the delivery of development projects by his administration.

Urging the Federal Government to refund the money ,spent on Federal roads in Rivers, Wike said: “Federal Government should say look, you have done well for us, these are our projects, can you bring your bill let us refund you the money? That is what it is supposed to be with partnership with a good Federal Government. 

“I can assure you that as you enter office and you approve to pay this money back, other states will have the courage to also do the same thing. It is not a laughing matter. I am not asking what we are not entitled to. That is one thing my successor, the day he is entering office on May 29, a letter had been prepared for him he will sign that day and forward to you since you will also be sworn in on May 29th. That is the first request we are making”.

In his description of the project, Rivers State Commissioner for Works, Dr. George-Kelly Dakorinama Alabo said the Rumuokwuta/Rumuola Flyover Bridge is 1007.5 meters long, completed in eight month instead of 10 months and delivered to eliminate traffic congestion by 98 percent in the State.

The Chairman of Obio-Akpor Local Government Area, George Ariolu, said the Rumuokwuta/Rumuola Flyover bridge is the 12th among similar projects that was conceived and constructed by governor Wike.

He said the 12th flyover had greatly eased vehicular traffic, boosting commerce and improved the aesthetics of the metropolis.

Tinubu was hosted last night to a banquet attended by the array of important personalities that attended the project inauguration earlier in the day and many others.

The president-elect is expected to inaugurate the Magistrate’s Court complex before departing Port Harcourt today.

After many hiccups, 376 Nigerians were airlifted from Egypt by the Nigerian Air Force (NAF) and Air Peace planes yesterday.

The aircraft were expected to touched down at the Nnamdi Azikiwe International Airport, Abuja around midnight.

The had not arrived as at 11:00pm press time.

The planes departed the Aswan Airport, Egypt at about 5 pm after hours of delay.

Ahead of take-off, the military situation room update stated: “The C130 (NAF plane) estimated time of arrival (ETA) is 11:40 pm (yesterday).”

The Air Peace plane is expected to arrive at 11.13 pm.

Aswan-Abuja flight time is about five hours.

Chairman/Chief Executive Officer of the Nigerians in Diaspora Commission (NiDCOM), Abike Dabiri-Erewa, said passengers exceeded the vacant seats on the planes, which caused a delay.

The Egyptian authorities had insisted that the number of evacuees must not exceed the space in the aircraft.

The C130 and the Air Peace could only convey 350 passengers, but 376 Nigerians made their way to the Aswan airport, which is against the terms of the agreement reached with the Egyptian authorities.

The NAF plane eventually agreed to let in the extra 26 Nigerians after some luggage was removed.

Dabiri-Erewa said: “The number of passengers did not match. Egypt insisted no one will leave if the number is more than what the aircraft can take.

“The bags in the NAF plane were taken into Air Peace cargo to create more space for the 26 passengers. It took hours but now sorted.”

Humanitarian catastrophe looms, UN chief warns

Sudan’s de facto president Abdel Fattah al-Burhan has been fighting his deputy Mohammed Hamdan Daglo with the help of the military since April 15.

Daglo is the leader of the influential paramilitary group Rapid Support Forces (RSF).

The two generals took over the leadership of the country of about 46 million through two military coups in 2019 and 2021.

United Nations (UN) Secretary General Antonio Guterres called on the international community to support Sudan as the African nation faces a “humanitarian catastrophe”.

“Khartoum is in turmoil; Darfur is burning once again,” Guterres told reporters in Nairobi.

“The Sudanese are facing a humanitarian catastrophe. Hospitals destroyed. Humanitarian warehouses looted. Millions facing food insecurity.

“We need secure and immediate access to distribute it to people who need it most … and humanitarian workers and assets must be respected.”

He urged all parties to put the “interests of the Sudanese people first” and for the fighting to stop before the conflict “explodes into an all-out war that could affect the region for years to come”.

Guterres is in Nairobi for a two-day official visit to hold talks with Kenya’s President William Ruto on the security and humanitarian situation in Sudan.

He echoed Ruto’s calls for de-escalation, a return to the negotiating table and an agreement on a lasting ceasefire.”

UN aid chief Martin Griffiths said he was working on obtaining commitments by the warring parties to protect humanitarian assistance to ensure it can be delivered to those in need.

The International Monetary Fund has said the military conflict will have huge consequences for the Sudanese people and the country’s economy and could affect its neighbours if it drags on.

The Washington-based fund’s efforts to help steer Sudan’s economy out of the crisis with a $65 billion debt relief programme, the biggest in IMF’s history, have been derailed by the violence, Jihad Azour, director of its Middle East and Central Asia Department, said.

“This is one of those cases where conflict is limiting or reducing the capacity of people,” Mr Azour told a press conference in Dubai.

As the human toll rises, Sudanese civilians are also fleeing the country and the flow of refugees is on the rise.

About 330,000 Sudanese have been internally displaced by the war, while the violence has so far forced 100,000 people to flee across the border, the UN has said.

Exhausted Sudanese and foreigners are joining growing crowds at Sudan’s main seaport, waiting to leave the country.

“Much of the capital has become empty,” said Abdalla al-Fatih, a Khartoum resident who fled with his family to Port Sudan.

He said they had been trapped for two weeks.

• Inflation, exchange rate fuel action

Over 40 per cent of deposits in local banks are now in United States (U.S.) dollars, the International Monetary Fund (IMF) has said.

It blamed the trend of saving in hard currency on rising inflation and exchange rate volatility.

The IMF described the practice as a confirmation of loss of confidence in the local currency, adding that “it is usually difficult to reverse”.

According to the IMF, market participants defend their wealth by shifting to dollar savings under high and persistent inflation.

In its Report on dollar savings, the Fund said “Nigeria operates with dollar bias for international trade, finance invoicing and of recent, store of value. Over 40 per cent of Nigeria’s bank deposits are in dollars”.

The IMF said the process of reversing citizens savings in dollars could be complex even after addressing the initial trigger, such as high inflation and exchange rate volatility.

The use of dollars for storing value worsened in the country following the implementation of the naira redesign policy and issuance of new banknotes by the Central Bank of Nigeria (CBN).

Under the policy, the CBN introduced new 1,000, 500 and 200 naira denominations and withdrew the old notes from circulation.

But a March 3 Supreme Court verdict on a suit spearheaded by Kaduna, Kogi and Zamfara state governments forced the CBN to reintroduce the rested notes.

In its judgment, the apex court directed the CBN and the Federal Government to allow the old and the new naira notes to co-exist till December 31.

 Analysts said the redesigning of the bank notes could inadvertently lead to the dollarisation of the domestic economy.

The IMF said most economies operate with a foreign exchange (FX) – the dollar bias for international trade and finance invoicing.

“The optimal choice between domestic currency versus dollars  will depend on the monetary framework and the benefits that each may offer as they co-exist as two currencies,” it said.

The IMF explained that in a highly dollarised economy, there is extended use of the exchange rate for price indexation (high real dollarisation and almost complete pass-through from depreciation to inflation). Forex is also used in foreign trade.

It said: “There is limited scope for fiat currency (tax payments, public expenditure, non- durable goods, and low- value transactions; extended forex use for durable goods, real estate, capital goods, and high-value transactions. Also, forex takes over the role of store of value as lending capacity in domestic currency becomes limited. Most loans become forex- denominated when forex bank deposits are allowed.”

The Fund said banking systems in many developing economies are bi-monetary while the  U.S. enjoys a privileged status as issuer of the most widely used international currency.

It said a bi-monetary system embodies the failure to conduct monetary policy in an effective way, such as, secure price stability, efficient payment systems, and well-functioning financial markets (including long-run financial contracts at comparatively low nominal interest rates).

“The most common type of dollarisation is financial dollarisation (FD), or asset substitution, caused by a poor performance of the local currency.

“The local currency is used more for payment transactions but is replaced by the dollar as saving asset or store of value, in line with Gresham’s law.”

Under extremely high inflation, such as in Venezuela or Zimbabwe, real dollarization (RD) – i.e., use of the dollar as means of payment transactions and store of value -also takes place.

It said: “On the one hand, in some countries dollarisation is entrenched and a bi-monetary system is formally allowed (e.g., Uruguay). On the other hand, in other countries it is not allowed, or dollar accounts are restricted. Under high inflation (e.g., Argentina or the Democratic Republic of the Congo), the public holds a large share of financial assets abroad and local financial intermediation is low.

“Countries with no history of extreme high inflation (e.g., Malaysia) impose restrictions on dollar deposits, but there seems to be no significant impact on local financial intermediation.”

The IMF said a bi-monetary system limits the role of the exchange rate as a shock absorber, as real dollarization implies a high pass-through from exchange rate depreciation to inflation.

It said: “Financial dollarlisation creates currency mismatches and liquidity risks for the financial system and the economy as a whole. Therefore, the exchange rate amplifies negative external shocks rather than absorbing them.

“Both financial dollarization and   real dollarisation jeopardize monetary transmission mechanisms, as inflation expectations are difficult to anchor with a weak interest rate channel.

“Financial dollarisation-related financial instability would need to be addressed via policy responses such as a central bank forex reserve buildup and associated regulation.”

• Party to persuade members-elect •NWC closes ranks

The Senate President, House of Representatives Speaker and other principal officers of the National Assembly may be selected through consensus, following the zoning of the offices, it was learnt yesterday.

The National Working Committee (NWC) of the ruling All Progressives Congress (APC), which controls the majority in both arms of the National Assembly, has begun widespread consultations to ensure a hitch-free selection process.

Yesterday, peace returned to the NWC, following the truce between the National Vice Chairman (Northwest), Salihu Lukman, and his colleagues, who he had accused of not steering party affairs in accordance with the APC constitution.

Lukman at yesterday’s NWC meeting agreed to withdraw the suit he filed last week against the National Chairman, Senator Abdullahi Adamu, and National Secretary, Senator Iyiola Omisore.

The NWC also passed a vote of confidence in the national chairman at its crucial meeting that lasted over four hours.

On the zoning of the leadership positions in the 10th National Assembly, the party said it was adopting persuasive means in a bid to pick the presiding officers by consensus.

The NWC in the last two weeks has been engrossed in a crisis of confidence, which worsened a few days after the National Legal Adviser, Ahmad Usman El- Marzuq, recommended Lukman’s expulsion for dragging the party leadership to court.

Addressing reporters after the NWC meeting, the spokesman for an ad-hoc committee, consisting of all the national vice chairmen, the national publicity secretary and the Deputy National Organising Secretary, Salihu Mustapha, said the crisis has been resolved.

Mustapha, who is national vice chairman (Northeast), said Lukman has agreed to withdraw the suit unconditionally. 

He said: “We had intimate consultations with our brother, the National Vice Chairman (North West), Comrade Salihu Lukman on issues you are aware of. Like the legal action and some other publications credited to him and we reached the resolution that this suit is going to be withdrawn and unconditionally he has also rendered his apology for any seeming embarrassment this suit and publications may have caused. 

“We want to affirm the fact that we are one indivisible committee that we would continue to work together and also try to see that we achieve all the inspirations of the National Working Committee of the party. We will resolve all the issues raised by him through the instrumentality of the party because parties are not run on the pages of Newspapers or the screens of television but they are being run administratively and we will continue to do that as one house.”

Zoning of 10th NASS leadership 

The national leadership of the party said it is embarking on persuasive means of reaching consensus on the next leadership of the 10th National Assembly.

Adamu said the party was consulting widely, especially with the President-elect, before taking a decision on the zoning of the National Assembly leadership.

Asked if the meeting arrived at a zoning arrangement, Adamu said: “That is not what today’s meeting is all about.

“When we do the zoning meeting and we don’t just go alone as a party. Zoning is to take along the person who has the mandate of this country, the President-elect, Senator Ahmed Bola Tinubu. We want to take him along. He travelled after the election and he came back only last week and we have to carry him along.

“We cannot stop those who are ambitious or zoning interest, or individual interest, we cannot deny them and as long as that is there, we have to find a way, persuasively of reaching some level of consensus. That’s what we are working on. It is not a one-day affair.”

APC National Publicity Secretary, Felix Morka, who affirmed that the party was yet to decide on the zoning, dismissed the insinuation that time was not on the side of the party.

He said: “We are not wasting time. There is no timeline to do so. The zoning is something that the party does. It is a mechanism by which the party can make decisions and afford those who are interested in competing for power in the leadership of the 10th National Assembly to do so with a minimum rift and rancour. To do so peacefully and seamlessly. So, there is no timeline to that. We are not in a hurry. We want to do it right.

“The chairman just said this required very exhaustive consultation not just of the leadership of the party but also of those who are aspiring. So, that whatever the party comes up with, by way of formula will be acceptable with minimum friction. It is important that the consultation is done and it is done properly. That is what is going on right now.”

NWC passes vote of confidence in Adamu

Shedding more light on the outcome of the meeting, Morka said that the NWC meeting looked at some internal matters.

He said: “Amongst all of the issues discussed at the meeting, we looked at some internal and domestic housekeeping matters with a colleague (Lukman) who has expressed his concerns about something he believes the party should be doing.

“But, I am happy to report as the Chairman just indicated. The party stands completely united behind the leadership of His Excellency, the National Chairman of our party, Senator Abdullahi Adamu. And we are all standing together. Our colleague’s concerns are being looked into. And I think in due course, we will have very specific conclusions from those discussions. We are good on this question.”

The President-elect, Asiwaju Bola Ahmed Tinubu, has hailed the roles Rivers Governor, Nyesom Wike, played in the buildup to the last general election to ensure the Presidency returned to the South.

Tinubu, who for the first time publicly highlighted the contributions of Wike to his victory at the presidential election, said the Governor and leader of the G-5 through his actions and utterances promoted fairness, justice and unity for insisting despite all odds that the Presidency must return to the South.

The incoming President spoke in Obio-Akpor, Rivers State, on Wednesday when he inaugurated the 12th flyover project, the Rumuola-Rumuokwuta Flyover.

The entire Port Harcourt stood still as thousands of residents trooped out to catch a glimpse of Tinubu, whose plane touched the Port Harcourt International Airport, Omagwa around 10:03 am.

Read Also: Eight facts about Tinubu’s visit to Rivers

As Tinubu stepped out of the jet that conveyed him to Rivers waving his left and right hands intermittently, the crowd that thronged the airport responded with shouts of “Jagaban”, “the President”.

Tinubu’s posters, banners and flyers were used to decorate the road leading to the city from the airport and residents were seen standing along the highway to wave at the President-elect.

The venue of the event was congested by people, who came principally to sight Tinubu, making it a herculean task for security agents to control the crowd.

As the President-elect got to the venue of the event in the company of his host and many dignitaries, the crowd erupted in jubilation.

Many dignitaries from across the country including many governors, ex-governors, former ministers, party executives and incoming and outgoing members of the National Assembly among others were in attendance.

A crucial meeting of the National Working Committee (NWC) of the All Progressives Congress(APC) has commenced at the National Secretariat of the party in Abuja.

Though the agenda of the meeting was not made public, The Nation gathered the committee will be reviewing the just concluded general elections, considering the preliminary reports of an external auditor engaged to look into the books of the party, in preparing a financial report to be presented to National Executive Committee. (NEC) whenever is conveyed.

Read Also: Gombe APC expels another Senator, Reps member

The meeting will also consider a template for a consensus zoning formula for sharing the 10th National Assembly Presiding Officers’ positions that will be presented to President Muhammadu Buhari and President-elect, Asiwaju Bola Ahmed Tinubu ahead of the June inauguration of the 10th National Assembly.

Also on the agenda is the seven petitions by the National Vice Chairman (North West), Dr Salihu Moh. Lukman and the legal action he instituted against the National Chairman and National Secretary for an alleged breach of the party Constitution.

The crisis further worsened last week with the National Legal Adviser, Ahmad Usman El- Marzuq recommending the expulsion of Lukman for dragging the party leadership to court.

The meeting is being presided over by the National Chairman, Senator Abdullahi Adamu with no fewer than 18 other members of the 24-man NEC currently in attendance.

Details Shortly…