The Nation Newspaper

Tag: Niger-Delta

  • Hilda Dokubo not my staff or relative – Amnesty Boss

    The Special Adviser to the President on Niger Delta and the Coordinator of the Presidential Amnesty Programme, Professor Charles Dokubo has clarified that Nollywood actress and filmmaker, Ms. Hilda Dokubo is neither his relative nor a staff of the Presidential Amnesty Office.

    In a statement he personally signed and released to the media in Abuja yesterday, Dokubo decried insinuations that he has hired his relations, particularly Hilda Dokubo to run the affairs of the Amnesty Office.

    He said: “I have deemed it extremely important to clarify that since I assumed office as the Coordinator of the Presidential Amnesty Programme, I have not hired any person. In particular, I have not hired Hilda Dokubo in any capacity at the Amnesty Office and I don’t intend doing so. It is also not true that she is my relative. We are not even from the same Local Government Area.”

    He explained that he was aware that since the inception of the Presidential Amnesty Programme, Hilda had been participating in the reintegration component of the Amnesty Programme and it was on this score that he allowed her and other stakeholders of the Programme to visit a number of times to share lessons learnt with him in the few days following his appointment.

    “The Amnesty Programme is a classical Disarmament, Demobilisation and Reintegration (DDR) Programme. All DDR programmmes are fluid and the only way you deepen and improve DDR programmes globally is through sharing experiences and lessons learnt. Hilda Dokubo has come to me to share her experiences while executing certain reintegration assignments given to her by past Coordinators of the Amnesty Programme.

    “In the same regard, so many other persons who have been involved in the Programme since inception have also been coming to brief me and I have even visited those I deemed important to learn a few things from. I really do not know why people now go about saying Hilda Dokubo is my staff or relative,” the Amnesty Coordinator stated.

    It could be recalled that on Tuesday an advocacy group, Niger Deltans for Accountability and Good Governance (NDAGG) disclosed that it has uncovered plot by persons it described as “unscrupulous contractors and enemies of the Niger Delta” to distract and possibly defocus the newly appointed Coordinator of the Presidential Amnesty Programme and vowed to do all that is legal and within its powers to thwart this plot.

    The Spokesperson for NDAGG, Barrister Claudius Egba in the Statement dismissed a recent publication by another group, ‘Trained Agitators Forum’ alleging that the new Coordinator was allowing a relative of his to wield powers at the Amnesty Office as false and misleading. “First, we must clarify that there is no such group as Trained Agitators Forum. It is just a creation of some disgruntled contractors and enemies of the Niger Delta, who are not happy at the decision of the new Coordinator to review the huge and un-performing contracts awarded by his predecessor, Brig-Gen Paul Boroh (Rtd). They want business as usual but the new Coordinator assured us that he will never allow that and we believe him and totally support his decision to carry out a holistic review of the huge contracts awarded by his predecessor,” the NDAGG Spokesman said.

    The NDAGG Spokesman also refuted reports that renowned actress and movie Producer, Ms. Hilda Dokubo was “running the activities” of the Amnesty Office. “We have just met with Prof. Charles Dokubo, the new Coordinator of the Amnesty Programme, he assured us that he has not made any appointments since he assumed office. He has been working with the personnel he met on ground. We, in fact totally frown against that because we are aware that a number of the management staff that worked with his predecessor, Brig-Gen. Paul Boroh did not live up to expectations. Some of them were even known to be very corrupt. We advised him to clean up the place even if it means doing away with most of the personnel in that office,” Barrister Claudius Egba disclosed.

  • EU launches N4.3bn projects in support of Albinos in Niger Delta

    The European Union ( EU ) on Wednesday inaugurated 956,000 euros (about 4.3 billion naira) projects in support of Person With Albinisms ( PWAs ), provision of water and sanitation management in the Niger Delta.

    The EU Head of Delegation and Ambassador to Nigeria and ECOWAS, Mr Ketil Karlsen, said this in an interview with our correspondent at the end of project inauguration ceremony in Abuja.

    Karlsen said that the projects were part of EU activities to promote, protect human rights in Nigeria and mitigate the conflict in Niger Delta region by addressing the cause of unrest and violence.

    “The EU is signing four projects with Civil Society Organisations to provide services in the Niger Delta in water and sanitation management to increase access for the locals.

    “Another one is launching a support programme for the Albino Foundation which is a wonderful project that we are really following up as a resolution from the EU parliament.

    “This stressed the importance of EU working with the people with Albinism in Africa to improve their rights and to deepen their opportunity,” he said.

    He said one of the projects was funded under European Instrument for Democracy and Human Rights ( EIDHR ) programme, while the others  were funded under component three of the Niger Delta Support Programme ( NDSP ).

    According to him, the projects have a total funding of 956,000 euros and to be implemented over a period of five years.

    He said the overall objective of the EIDHR was to help civil society organisations become an effective force for political reform and defence of human right.

    “So this is another example of close collaboration of EU with CSOs and authority in Nigeria because we know that the chain is as strong as the weakest link.

    “So we always advocate for civil society, the international community and the authority a like to approach some of the challenges that we have seen in Nigeria and some other places.”

    He said the Component 3 of the NDSP was aimed to increase access to safe, adequate and sustainable water, sanitation and hygiene service delivery to underserved population in five EU approved Niger-Delta states.

    The states, according to him, are Akwa Ibom, Bayelsa, Delta, Edo, Ondo and Rivers.

    He said the implementing entities include state ministries responsible for water, UNICEF, Messer SAFEGE SRLS and four local CSOs

    According to him, the choice of the projects is because water management and sanitation are vital for the livelihood of people.

    “Without good health, people cannot go to schools, they will not learn well, so this is part of wider development of securing wider opportunity for ordinary Nigerians.

    “So, this is something that is producing tangible and specific result that can be seen with our bare eyes and I think working with people with albinism is part of what has been done in the past.

    “And I think one of the wonderful things that this project will brought about is more clarity of what is the actual situation of the people with albinism.

    “How many people are there all together, what are the needs and difficulties and of course without having that point of departure, it is very difficult to design necessary policy for them.”

    He said some of the projects would last about 28 months while some would last less.

    “However, what is important is how to ensure the long lasting effect of the projects and ensure their sustainability.

    “This is one of the discussions that we need to have with our partners that how do we secure the impact of the project that when the last euros has been paid.

    “And that is about advocacy, about awareness, building on best practices and multiplier effect,” he said.

    President of Albino Foundation in Nigeria, Mr Jake Eppele, a beneficiary commended the EU for the initiative.

    Eppele said the project was to provide access to social services for persons with Albinism in Nigeria.

    He said the project was also to provide legal reform to improve the situation of people living Albinism.

    Mr Benjamin Ogbalor, Project Coordinator, Initiative for Community Development, a CSO, said his project was aimed at improving the living condition of the population of people in Isoko Local Government of Delta.

    “This is to enhance safe access, adequate, equitable and sustainable water supply, sanitation and hygiene services aiming to provide support for the peace process, conflict prevention and local governance,’’ Ogbalor said.

    NAN

  • NNPC: we made trading profit of N250 billion – Official

    The Group Executive Director, Finance and Account of the Nigerian National Petroleum Corporation ( NNPC ), Mr Isiaka Abdulrazak said the corporation made a trading profit of N250 billion in 2016.

    Abdulrazak said this in a quarterly publication of the NNPC, a copy of which was obtained by the News men on Tuesday in Abuja.

    According to him, his office inherited 65 unaudited financial statements between 2011 and 2014.

    He said that though, there were challenges that led to the backlog, a Project Steering Committee chaired by him was constituted to meet with auditors and all relevant stakeholders to identify and isolate key challenges and give them priority attention.

    Giving an insight into how he was able to clear the corporation’s unaudited accounts from 2011 to 2016, Abdulrazak said this figure was up from a deficit of N123 billion in 2015.

    “In August 2015, when the present management of the Finance and Accounts Directorate took over the mantle of leadership, we inherited a total of 65 unaudited financial statements for NNPC corporate and its subsidiaries covering 2011 to 2014.

    “The major elements consist of a review of the Group Audited Financial Statements, particularly for 2016 reveals a positive shift to a trading profit of N250 billion from a trading deficit of N123 billion in 2015, indicating a 300 per cent improvement in trading performance.

    “This is despite the decline in the average price of crude oil to as low as 345 dollars per barrel in 2016, compared to 51 dollars in 2015, and 110 dollars in 2014,’’ he said.

    He said it was also critical to point out that the 2016 result was a reflection of management’s philosophy to enhance profitability by forcing down costs and improving revenue generation.

    “For example, we have discontinued sub-commercial business arrangements such as offshore processing arrangements, disadvantaged crude for product exchange swap and poorly-managed strategic alliances.

    “To improve revenues, there have been a number of new initiatives such as the introduction of Direct Sale Direct Purchase, a 20-25 per cent cut on all commercial contracts among others.

    “Also, revenue analysis shows a 10 per cent increase from N2 trillion to N2.3 trillion between 2015 and 2016.

    “Further analysis shows a 75 per cent increase in petroleum product sales from N820 billion to N1.4 trillion, attributable to the partial deregulation of petrol price,’’ he said.

    According to him, the statement of financial position has been riddled with persistent losses over time and this had eroded shareholders’ equity.

    “You will recall that I mentioned that the Group trading performance improved to N250 billion trading surplus in 2016 compared to a trading deficit of N123 billion in 2015.

    “However, the Group ended with a net loss position mainly due to NPDC revenues shut-in as a result of the security situation in the Niger Delta in 2016, and exchange rate losses among others.

    “The Group results would have been positive without these factors,’’ he said.

    He said the directorate under his watch had recorded successes in areas like managing foreign exchange intervention pool for importation of petroleum products and savings on insurance premiums.

    “This has so far led to more than 340 million dollars year-on-year savings in premiums payable over the period of 2015 to 2018 ( about 45 per cent ) effective reduction in year-on-year premiums.

    Read Also: NNPC: our financial statement is up-to-date

    “Other successes include reducing the unwieldy number of accounts managed by the corporation from more than 2,000 to a little fewer than 200. All the old accounts under commercial banks have been fully reconciled and closed.

    “Another is the settlement of the cash call arrears and self-funding mechanism for joint venture operations, successfully negotiating an agreement 6.8 billion dollars to 5.1 billion dollars, a 25 per cent drop and the implementation of the self-funding mechanism for upstream joint venture operations for the federation.

    “This has resulted in higher government take in royalties and taxes, sustained reserves development and production, restoring investors’ confidence, thereby creating windows for financing opportunities.’’

    He said the outlook for the next strategic business period would be to focus on –partnering with the corporate services directorate to optimise the utilisation of enterprise resource planning, infrastructure and architecture to provide an end to integration of NNPC business processes.

    “Secondly, we are also focusing on delivering on the blueprint of making the corporation initial public offer ready.

    “This will involve principally cleansing our legacy financial data and balance sheet restructuring as well as profitability.

    “Thirdly, we shall continue to build on successes achieved with the open publication of monthly operations and financial reporting and rendition of audited financial statements in line with the provision of the NNPC Act and other relevant laws of the land.’’

    He said in recognition of the achievement, the NNPC board had further mandated management to clear the remaining outstanding reports for the period 2013 to 2016.

    NAN

  • ‘No true federalism without 50 per cent derivation to Niger Delta’

    Leaders of Niger Delta yesterday said the quest for true federalism in Nigeria would be a mirage without the region getting 50 per cent of its crude oil resources.

    Meeting under Pan Niger Delta Forum (PANDEF), they faulted allegations that governors of the region have not used its wealth well.

    PANDEF Chairman and ex-Military Administrator of Akwa Ibom Air Commodore Idongesit Nkanga (rtd)  spoke with reporters in Uyo after the inaugural meeting of the executive in Uyo at weekend.

    Nkanga said: “The old revenue sharing formula, which had 50 per cent going to the regions, 30 into the distribution pool and 20 for the devleopment of the federal capital led to the varying development we saw in the three different regions. We wondered why it was abandoned after the discovery of oil in Niger Delta.”

    He lamented that issues, promises and decisions reached when Vice President Yemi Osibanjo visited the region were yet to be implemented.

    “The issues we are talking about include the clean up of Ogoniland, which has remained as it is when it was launched. We are also talking about an end to gas flaring, which we have not seen rather the Federal Government is collecting penalties for that and sharing it equally to states. Meanwhile, only the people of Niger Delta suffer the horrific effects of gas flaring.

    “ We are also talking about the relocation of headquarters of International Oil Companies to their areas of  operation, but regrettably, many have not done so and there is also smuggling of offshore onshore oil dichotomy into the El Rufai committee on restructuring. The Green Tree agreement modular refineries and corrupt bordering the people.

    “We believe in new and peaceful methods and ways to negotiate a better deal for our people and Nigerians but people should not mistake our peaceful ways for weakness. We are not weak but believe that peaceful means will eliminate destruction of life and prosperity, especially of people in the region,” Nkanga explained.

    He said PANDEF was instrumental to the ceasefire between the Federal Government and militants, which increased Nigeria’s crude oil production from 200,000 BPD to 2.5M BPD and bringing in about N3 billion daily into the coffers of the Federal Government.

    PANDEF, he said, was collaborating with Ohaneze Ndigbo, Odua Peoples Congress and the Middle Belt Forum for a better deal.

    The chairman added that the group will hold rallies in the four regions to sensitise people on their agenda for a better Nigeria.

    He called on the region to partner the organisation in its quest to negotiate its future.

     

     

  • I received scanty handover note with many unanswered questions – Dokubo

    Coordinator of the Presidential Amnesty Programme and Special Adviser to the President on the Niger Delta, Prof Charles Dokubo, has described the handover note he received from his predecessor as “a maze of words and figures that left many questions unanswered.”

    He said his resolve to make meaning out of the “scanty” handover note and redirect the course of the Amnesty Programme informed his decision to set up a Special Review Committee made up of four experts outside the Amnesty office and four senior officials that worked with his predecessor.

    The members of the committee include Prof. Ayibaemi Spiff, Chief Otonye Amachree, Mr. Unyime Isong Eyo, Ms. Azizat Muhammed, the Director of Finance and Accounts, the Director of Procurement, Director of Administration and the Head of Audit.

    Dokubo replaced Brig.-Gen. Paul Boroh (Rtd.), who was removed over allegations of corruption and is currently being investigated by the Economic and Financial Crimes Commission.

    Speaking Thursday in Abuja at an interactive session with newsmen, Dokubo said the committee, which was inaugurated before the media parley, is at liberty to not on dissect the handover note but also has full authority and mandate to “take oral depositions or seek clarifications from any person or persons including current departmental heads.”

    He said: “I came into this office with a brief that is very scanty. I received the handover note of my predecessor and written briefs of departmental heads. I have, of course, taken my time to carefully go through the handover note and the departmental briefs. The documents contain a maze of words and figures. I dare say, however, that these documents left lots of questions unanswered. So I have set up a committee to give me a guide that would take the Amnesty Programme to a different level.”

    On his mandate, Dokubo said he would focus more on the reintegration aspect of the programme, adding that he would not accommodate new entrants into the programme which should be winding down in due course.

    “My focus is on reintegration. How do we get jobs for those who have been trained here such that they would no longer live on stipends? I wish to use the opportunity of the inauguration of the committee to underscore the compelling need to recalibrate and reboot the Amnesty Programme to meet current realities in the Niger Delta and Nigeria at large”, he said.

    The terms of reference of the committee include, among others, to take a critical look at the handover note and ascertain the current status of the programme; ascertain current level of compliance with the original mandate of the programme; and review all contracts awarded by the Amnesty Office since 2015 with a view to determine the levels of word done, monies paid, beneficiaries and extent of work done and recommend a payment schedule for only those qualified to be paid.

    The committee, he noted, has two weeks within which to submit its report, noting that noting that the member should also look into the data base of the Amnesty Office to establish its sanctity, carry out a personnel audit of the staff and their suitability for the positions they currently occupy and determine the real status of all ongoing vocational, educational and post-training empowerment programmes of the office within and outside the country.

    Read Also: Ex-militants allege denial of amnesty benefits, stipends

  • Buhari is working painstakingly to right Nigeria’s wrongs – Peterside

    The Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, has stated that President Muhammadu Buhari is working painstakingly to right the wrongs of the past and put the country on a sure footing.

    He also urged the people of Rivers State, especially the Christians, to continue to be prayerful and look unto God to raise leaders that would bring good to all parts of the Niger Delta state.

    Peterside, who was the governorship candidate of the All Progressives Congress (APC) during the 2015 election in Rivers, noted that the death and resurrection of Jesus Christ exemplified courage, perseverance, pain and triumph over even the most difficult challenges.

    He stated these on Saturday in Port Harcourt, the Rivers State capital, in an Easter message by his media team.

    The NIMASA chief said: “There have been challenges and difficult moments that have faced the Federal Government, led by President Buhari, but like in the significance of the season, he is being courageous, patient and unwavering in his desire to take Nigeria out of the woods and place it on a sound pedestal.

    “I want to thank Nigerians for their support so far and I can only ask for more. The times may have been challenging, but the difficult moments are beginning to give way to hope, economic prosperity and fulfilment of our hopes and aspirations.”

    Read Also: Wike lied on Buhari’s achievements in Rivers – Peterside

    Peterside, a former member of the House of Representatives, also stated that Jesus Christ, as the only son of God, could have used his position and powers to avert his betrayal and eventual crucifixion, despite being aware, but chose to lay down his life to prove triumph over death and the redemption of mankind.

    He tasked Rivers people to exhibit courage, selflessness, generosity and good neighbourliness, pointing out that displaying such virtues would bring about a better society.

    The APC chieftain lauded Christians in Rivers state for their steadfastness, prayers and cooperation for making sure that governments at various levels kept to their promises, in order to make the society a better place.

    He praised Rivers people for uniting to fight against societal ills that negate the reason for the ultimate sacrifice of Jesus Christ.

    Peterside added: “The period of Easter is also a season for friendship, forgiveness, love and rededication to the ideals of Christianity.

    “As Christians, the significance of the season must not be lost on us. We must do things that promote peace, progress and development of humanity.”

     

  • 730 Niger Delta youths to be trained in 2018, says minister

    No fewer than 730 youths from the Niger Delta region would be trained in various skill acquisition programme of the Federal Government in 2018.

    The effort is said to be in the government bid to increase the human capital development in the country as well as check agitations and unrest in the country.

    The Minister of Niger Delta Affairs, Mr Usani Uguru Usani made the disclosure in Ibadan at the weekend during the graduation of 25 youths from Niger Delta under the empowerment training of the ministry by Siegener Sabithos Nigeria Limited, held at the Chief M.A Adesiyan conference hall, Alumni Centre, University of Ibadan.

    The 25 youths were trained on fish production, information communication technology, business development and entrepreneurial skill within few weeks in Ibadan.

    Represented by the Director of Economic Empowerment, Ministry of Niger Delta, Alhaji Ibrahim Akanya, the minister said the empowerment is not only a means to fast track development but also to actualise the Presidents human capital development programmes.

    His words, “This empowerment programme is not only means of fast tracking development of the entire region, but one of the ways to actualise Mr President’s human capital development programme.

    “President Muhammadu Buhari believes that in addition to infrastructure, human capital development is quite vital and essential for a nation. Most of the crises we have in Nigeria today is as a result of neglect of human capital development.

    “This, President Buhari said cannot continue. So, he has directed all the ministries as a matter of urgency to put in their annual capital budget the issue of human capital development and that is why we came up with this programme of economic empowerment at the Ministry of Niger Delta programme.

    “We have it before the present administration but it was energised when President Buhari came in. He put a lot of impetus-fund into it, actually organise it. As I am telling you this year alone, the Ministry of Niger Delta alone will be training about 730 youths under the 2017 budget, not to talk of 2018 budget that is yet to be passed.

    “About 180 are graduating today in Calabar; by next Wednesday another 90 youths will be graduating from Calabar axis again, then by Monday about 205 women and youths will be commencing another training here in Ibadan, Oyo state, specifically at The Polytechnic, Ibadan. In Imo, about 105 graduated from the same programme last week. That is to tell you how the present administration is committed to human capital development.

    “The essence of the programme is that the restiveness we have in the Niger Delta and recently, in the North East is nothing other than neglect of human capital. If we have to arrest this situation, we have to develop human being along that line,” Uguru stated.

    In his short remarks, the state Commissioner for Information, Culture, Mr Toye Arulogun urged the participants to make judicious use of the knowledge and opportunity availed them by the programme.

    Arulogun commended the Federal Government for the initiative, noting that it shows that the government is concerned about the future of the youths of the state, the country.

    Earlier, the Chief Consultant, Siegener Sabithos Nigeria Limited, Dr Tunde Kelani, who lauded the initiative of the Federal Government charged the graduating youths to replicate whatever they might have benefited in their communities and promote the scheme.

  • FG trains ex-militants on fish farming in Edo

    The Federal Government under its Amnesty Programme, on Monday trained ex-militants, drawn from the nine oil producing states in the country on fish farming.

    Mr Charles Odemwingie, Managing Director, Nolia Consult Limited said during the training held in Benin that it was part of the federal government’s programme to re-integrate the ex-militants into the society.

    Odemwingie, also the programme facilitator said the training would be in three phases adding that, the first phase was to train them on fish farming.

    He noted that the second phase would be to empower them with all the equipment and tools needed for the business and open an account for them.

    Odemwingie said that the third phase will be to monitor and mentor them for three months to ascertain their challenges and ensure that they achieve success.

    He explained further that the training was in line with the presidential directive to integrate restive youths in the Niger-Delta region into the society through the presidential Amnesty Programme.

    According to Odemwingie, to ensure success of the programme, the federal government allowed the trainees to choose what business they want to go into.

    He charged the participants to take the training seriously as government cannot employ everybody, adding that, they will be empowered to start the business.

    Mrs Patricia Danyil, a fish farmer and trainer said that participants would be equipped with knowledge and skills, needed to grow their business.

    NAN

  • Jonathan, governors, Niger Delta leaders for restructuring rally

    Former President Goodluck Jonathan, South-South governors and other Niger Delta leaders will on Saturday lead a mega rally to call for restructuring.

    The rally organised by Edwin Clark-led Pan Niger Delta Forum (PANDEF) has been scheduled to hold in Yenagoa, Bayelsa State capital.

    It was learnt that PANDEF with the rally tagged, “Restructuring the Nigerian Federation,” would insist that the country should be restructured before the 2019 general election.

    A statement signed by Chairman Publicity of the rally, Chief Thompson Okorotie, said prominent leaders such as Chief A.K. Horsfall and His Eminence, King Edmund Daukoru, the Amayanabo of Nembe, would lead the rally.

    Okorotie also said former President Jonathan, the six South-South governors and all former governors of the South-South, serving and former ministers, chairmen and members of boards and parastatals would grace the occasion.

    Others are all the current and former National Assembly members, all current and former Speakers and members of Houses of Assembly of the South-South.

    The statement also urged Afenifere, Ohaneze Ndigbo, Arewa Consultative Assembly, Middle Belt Forum, the clergy, traditional rulers, leaders and elders from across the nation, youth, women groups and the general public to attend the South-South rally.

    He said: “The governors, former president Jonathan, PANDEF leader, Chief Edwin Clark, some eminent Nigerians and leaders of ethnic nationalities, civil society groups are expected to deliver speeches at the rally.

    “Fellow Nigerians; let’s restructure now, tomorrow may be too late. A restructured Nigeria will guarantee a free, fair, egalitarian, united, peaceful and prosperous nation where everybody, irrespective of region, religion, creed and status will be happy.

    “We intend to use the rally to rally support for restructuring of Nigeria. The 2019 general election is a referendum on Restructuring.

    “We the people of Niger Delta/ South-South want the Nigerian federation to be restructured to enthrone true federalism before the 2019 general election and it is doable, all that is required is a political will on the part of the President of the Federal Republic of Nigeria.”

    Read Also: Jonathan, IBB, Shagari absent at Council of State meeting

  • No nation can survive on grand corruption – Osinbajo insists

    Buhari has reversed corruption trend, puts Nigeria on right path

     

    Vice President Yemi Osinbajo on Tuesday reiterated that no nation could survive on a “grand corruption” such as was visited on Nigeria in the past, but added that it was a good thing that the trend has been reversed by the present government at the centre.

    Osinbajo said Nigeria is now on the right path to recovery with the launch and implementation of the deadeconomic recovery and growth plan, pursuit of peace in the Niger Delta and diversification of  the economy.

    He spoke in Abeokuta, the Ogun State capital, at the 4th edition of the Ogun State Investors’ Forum with the theme: Consolidating the Gains: Accelerating Growth.

    He explained that the nation’s problem  was not its  dependence on precarious single commodity but corruption which ensured that the proceeds of the commodity were cornered by very few people.

    Osinbajo hailed the initiative of the Ogun State government regarding the Investors forum and preached a sub-regional economic summit among Ogun, Lagos and Benin Republic towards leveraging on the economy of proximity of both Lagos and Benin Republic to the state.

    According to him, policies of the Federal government led by President Muhammadu Buhari were targeted at improving the potential of states notwithstanding political leanings.

    He noted that a total of N1.91 trillion Naira has been released to state in form of Paris Club refund and budget support facilities.

    “We have launched and implemented a comprehensive economy recovery and growth plan, we pursued peace in the Niger Delta, we focused on improving our business environment, we scaled up our investment in agriculture and infrastructure and aggressively worked at expanding Nigeria revenue base.

    “Perhaps most importantly, we have reversed the grand corruption in public finance and impunity which attended the conduct of public business especially in the past five years.

    “The main reason for Nigeria’s growth is not just a matter of our relying heavily on a single commodity, it is the fact that proceeds of that single commodity were regularly hijacked consistently by a few.

    “In the so called strategic contract with NPDC, the promoters of those companies made away with about $3billion, almost a tenth of our reserves at a point.

    “At the moment, we are in the course of getting the $3 billion to built roads; the Abuja-Kaduna-Kano road, the second Niger bridge, the Enugu-Port Hacourt road, the East West road, the Sagamu-Benin-Ore road, the Kano Maiduguri road, the Abuja-Lafia road, the Akwanga-Keffi road plus the Lagos-Abeokuta road.

    “It is important for us to understand that our country’s problems must be analyzed on the perspective of what our real issues are, we can’t talk about the Nigeria economy without the plight that was caused years ago by people simply stealing the resources of this country.

    “In one single transaction, the sum of 100 billion Naira and $289 million in cash were released three weeks to the 2015 elections. That money was essentially embezzled.

    “When you consider that in 2014 when the price of oil was at an average of $110 a barrel, only 99 billion Naira was spent on power, works and housing; agriculture and transportation got 14 and 15 billion Naira respectively.

    “So,  the total spent on capital in 2014 on those areas have mentioned was just N153 and over N150 billion was released and shared in three days, this is the enormity of what we are talking about.

    “There’s no country in the world that can survive on grand corruption and that is what we are talking about and that is why it is important for the Federal Governments under President Muhammad Buhari to reverse that grand corruption,” he said.

    Also, former President of Mexico, Felipe Calderon, expressed the confidence that with rule of law and accountability, Nigeria would navigate out of her economic doldrums.

    Calderon who delivered the keynote address at the Investors Forum, said  knowledge from research had shown that the economy of nations without rule of law and accountability would only remain stagnant at 0% or be crawling only at 1%.

    The ex- President explained that the economy of a country could grow for as much as 34% where rule of law and accountability regardless of its geographical location, culture, leadership ability or even the natural resources.

    He cited Singapore as a nation that does not have much national resources but remained one of the best economies in the world because of rule of law and accountability.

    “It is important to have a country that is rules by law and not by man,” he said.

    The Ministers of Finance and Agricultural and Rural Development, Kemi Adeosun and Audu Ogbeh in their separate remarks, said Nigeria has the capacity to grow its GDP at 7% by being focused.

    Ogbeh who rued the 9% interest rate being charged farmers by the Central Bank of Nigeria for being prohibitive, said 5-7% would be more reasonable.

    Governor Ibikunle Amosun of Ogun State, while delivering his speech said his administration is poised to bequeathing a lasting legacy and provides a model of development that is impactful and sustainable for the state.

    Amosun who highlighted his achievements in the areas of agriculture, infrastructure, security and investment said this is the time to support his administration the more, now that is winding up.