Tag: Osinbajo

  • Higher electricity tariff inevitable – Osinbajo

    Higher electricity tariff inevitable – Osinbajo

    Vice President Yemi Osinbajo said on Monday Nigerians should prepare to pay higher electricity tariff.

    He said the higher electricity payment is inevitable.

    The vice president spoke at the Sixth Presidential Business Forum held at the old Banquet Hall of the Presidential Villa, Abuja.

    The Sixth Presidential Business Forum, which focused on agriculture and its value chains, had the Minister of Agriculture and Rural Development, Audu Ogbe; the Minister of Industry, Trade and Investment, Okechukwu Enelamah; officials of government agencies and stakeholders in the agriculture sector in attendance.

    “There is no question at all that we must pay higher tariffs,” Osinbajo said.

    He said government was not going to increase the tariff for now but was working towards cleaning the electricity value chain.

    According to him, the N700 billion Payment Assurance Guarantee set aside by government was to ensure uninterrupted payment for gas and liquidity in the power sector.

    Osinbajo said the payment assurance guarantee was to fund a smooth transition “from where we will have a much more market-determined policy for electricity.”

    The vice president said government was working with the World Bank on the matter.

    He also disclosed that President Muhammadu Buhari has directed that a committee be set up to explore the use of government’s intervention funds in agriculture.

     

     

  • N10bn Farmers-to-finance fund will reduce poverty – Osinbajo

    N10bn Farmers-to-finance fund will reduce poverty – Osinbajo

    Vice President Yemi Osinbajo yesterday said the newly inaugurated N10 billion Farmers-to-Finance-Mutual Funds would help reduce poverty and support local farmers to grow their businesses.

    Osinbajo stated this in Abuja at the 2017 Conference of the Association of non-bank Micro-finance Institutions of Nigeria (ANMFIN) and launch of of N10 billion Farmers-to-Finance-Mutual Funds.

    He said that the newly established fund would complement the effort of the federal government at increasing agricultural output, ensuring food security and the production of raw materials.

    Osinbajo was represented at the event by the Managing Director, Bank of Industry (BOI), Olukayode Pitan.

    “It is estimated that in Nigeria, those living below the poverty line is about 67 per cent, most of who reside in the rural areas and primarily practice subsistence farming.

    “Therefore the elimination of poverty is not possible without sustained execution of agricultural development programmes.

    “Given the scale of investments required to ensure sustained growth in the sector, private sector involvement is fundamental.

    “One major avenue through which this can be achieved is through pooling of capital from private sources, such as the Farmers-to-Finance-Mutual Funds.

    “This platform will offer private investors the ability to pool capital and take advantage of large investment opportunities that are not usually accessible to an individual investor,” Osinbajo stated.

    President of ANMFIN, Princess Adeshola Ogunleye, said that the Fund would be made available to farmers at an interest rate of 10 per cent.

    She said that the association would leverage its network to ensure that at least 4.5 million farmers benefited from the fund.

     

     

  • Osinbajo to inaugurate projects in Kwara

    Osinbajo to inaugurate projects in Kwara

    The Kwara State government says all is set to receive Vice President Yemi Osinbajo on a one-day visit today.

    Secretary to the State Government Isiaka Gold said Osinbajo would inaugurate the International Vocational, Training and Entrepreneurship College (IVTEC) in Ajase-Ipo, Irepodun Local Government Area and three others before leaving.

    The Vice President will launch the Government Enterprise and Empowerment Programme (GEEP) MarketMoni, designed to serve as a one-stop shop for Micro, Small and Medium Enterprises (MSMEs).

    Two hundered MSMEs will benefit from the programme, which is in partnership with the Bank of Industry (BoI).

  • Osinbajo to UCH, others: embrace innovation to overcome poor funding

    Osinbajo to UCH, others: embrace innovation to overcome poor funding

    Vice President Yemi Osinbajo yesterday advised the management of the University College Hospital (UCH) in Ibadan, the Oyo State capital, and other government institutions to embrace innovation to overcome funding challenges.

    He said government alone cannot fully fund them.

    Osinbajo spoke at the hospital’s 60th anniversary lecture in Ibadan.

    After praising the hospital for its breakthroughs and impacts in the last 60 years, the Vice President noted that the decadence that afflicted Nigerian institutions since the 1990s would not go away by wishful thinking or by expecting that government would suddenly provide enough money to solve their challenges.

    He urged the UCH to “aggressively and creatively grow its partnerships, linkages” and engagement with the private sector and philanthropic organisations as well as individuals to deliver superior healthcare service to Nigerians.

    Osinbajo advised the management of the hospital to create the picture of where UCH would be in the next 10 years and leverage on partnerships, collaborations and linkages to support government funding in the quest to achieve the dream.

    The Vice President said governments all over the world are not fully responsible for the funding of education and healthcare, adding that creativity and innovation of managers of such institutions would address the funding shortfall.

    He stressed the essence of new technologies in delivering improved service in the hospital system.

    According to him, the infrastructural deficit arising from neglect in past years remains the greatest challenge of government today.

    Osinbajo added that the Muhammadu Buhari administration had been spending more than any other administration to address this problem.

    For instance, the Vice President said around N1.3 billion had been budgeted for capital projects in the 2018 budget, the highest in recent history of the country, even in percentage.

    “However, this amount is still very far from what we actually need to fix infrastructures in Nigeria. So, we must integrate the private sector,” he said.

    Osinbajo noted that the UCH could be a global centre of excellence, if it embraced innovation by involving the private sector.

    The hospital’s Chief Medical Director (CMD) Prof. Temitope Alonge said the UCH had largely achieved its mandate of training healthcare workers who will serve all over Nigeria and other West African countries as well as render high quality medical service to patients.

    The CMD said the breakthroughs of the hospital include nuclear medicine, heart surgery and geriatric care.

    He called for improved funding for the institution, saying it received only about 25 per cent of what it needed for overhead expenses.

    Health Minister Prof. Isaac Adewole said the UCH was among four federal hospitals to be renovated with funds from the Sovereign Wealth Fund (SWF).

    The minister said the Federal Government was determined to ensure the success of the project.

    He said N9 billion was provided for the UCH in the 2018 Appropriation, adding that the government had approved the promotion of about 700 of its workers for this year.

    Oyo State Governor Abiola Ajimobi praised the hospital and pledged his administration’s continued support and partnership with it.

    Ajimobi said the future looked bright for the hospital, adding that UCH added to the uniqueness of Ibadan and Oyo State.

    He said the newly inaugurated Kensington Adebutu’s Geriatric Rehabilitation Centre and the Cancer Centre, whose foundation was being laid, offered hope of a greater future for the hospital.

    The Vice President inaugurated the rehabilitation centre and turned the sod of the cancer centre as part of the anniversary celebration.

    Legal luminary, Aare Afe Babalola (SAN), hailed the UCH for offering leadership in Nigeria’s heath sector.

    He called for improved remuneration for medical workers and urged philanthropic Nigerians to support the health and education sectors.

    At the lecture were Ondo State Governor Rotimi Akeredolu (SAN); former President Olusegun Obasanjo, who was represented by Dr Femi Majekodunmi; the Olubadan of Ibadan, Oba Saliu Adetunji and his Lagos counterpart, Oba Rilwan Akiolu.

    Emeritus professor of Medicine, Theophilus Ogunlesi, who is also the first professor of Medicine in Nigeria, presented the lecture.

    Several professors of Medicine and community leaders attended the programme.

    Also, Oba Akiolu ignored Oba Saliu Adetunji at the event.

    Dignitaries, including Vice President Osinbajo, Governor Ajimobi and Oba Akiolu had taken their seats on the high table.

    Oba Adetunji came in much later.

    The Lagos monarch sat on the left end of the platform.

    As the Olubadan walked up the stairs to the high table to join other dignitaries, from the left side where Oba Akiolu was the first on the row, the Lagos monarch looked away.

    Even Ajimobi, who many people believed was not in good terms with the monarch, rose up to welcome the monarch.

     

     

  • Osinbajo, Obasanjo for book launch

    Vice President Yemi Osinbajo, former President Olusegun Obasanjo and Lagos State Governor Akinwunmi Ambode are among dignitaries expected at a book launch tomorrow at Sheraton Hotel in Abuja.

    The book, titled: From Consumption to Production: The Why and Ways Out of Failed Industrialisation In Nigeria, is written by Prof Banji Oyelaran-Oyeniyi, a Professorial Fellow at the United Nations University.

    In a statement at the weekend, the author said he was able to identify the characteristics of a consumption nation as Nigeria, the industrial failures of the nation, how infrastructural deficit limits the country’s industrialisation and how its economy can be transformed or resuscitated through diversification from consumption to production.

    According to him, Nigeria descended into a consumption economy because it has not experienced a positive structural transformation to lead to the reallocation of economic activities across three broad sectors: agriculture, manufacturing and services.

  • Why it’s difficult to repatriate looted funds, by Osinbajo

    Why it’s difficult to repatriate looted funds, by Osinbajo

    Vice President Yemi Osinbajo yesterday identified two major obstacles to efforts to repatriate looted funds kept in offshore accounts.

    Osinbajo noted foreign countries warehousing stolen funds deliberately create rigorous obstacles and set humiliating conditions in cases where such monies are to be released.

    He also said the willingness of developed countries to allow companies and organisations with anonymous owners function was hampering the fight against money laundering and terrorist financing.

    The Vice President expressed concerns over the devastating effects of official corruption on West African countries.

    He called for concerted efforts of all member states of the Economic Community of West African States (ECOWAS) to curb the vice, which he said poses a grave threat to their continued survival.

    Osinbajo spoke in Abuja yesterday at the opening session of the 18th Ministerial Committee meeting of the Inter-Governmental Action Against Money Laundering in West Africa (GIABA).

    GIABA is an ECOWAS’ agency responsible for facilitating the adoption and implementation of Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) in West Africa.

    It is also a Financial Action Task Force (FATF)-Styled Regional Body (FSRB) working with its member states to ensure compliance with international AML/CFT standards.

    Osinbajo said: “Despite numerous mutual legal assistance treaties and conventions, it is obvious that we are not making the sort of progress we expect to see.

    “It is unconscionable to have stolen funds in a bank within the jurisdiction of an FATF (Financial Action Task Force) country and to have to go through a rigorous obstacle course to retrieve the funds and even when such funds are to be returned after several years, humiliating conditions are attached.

    “It is the view of Nigeria that FATF countries must ensure the smooth repatriation of proceeds of corruption to the economies from where they were stolen.”

    He added: “The other issue is the risk of the dangers posed by anonymous corporate ownership.

    “If nothing else, the Panama Papers and now the Paradise papers clearly illustrate the global scale and spread of this problem.

    “So this is a global challenge and nothing less than a truly global approach will be needed to tackle it.

    “We cannot have anonymous ownership of companies, trusts and other arrangements designed to cover ownership of assets and at the same time expect optimal results from anti-money laundering measures.”

    Osinbajo noted that the threat to the continued existence of most West African states by official corruption is evident in the rundown schools and hospitals, potholed roads, under-equipped armies, subverted financial systems and fragile democracies.

    The Vice President stressed the needs for West African countries to redouble their efforts in the wars against financial crimes and terrorist financing.

  • Osinbajo, Dogara, Ambode, others for Christian Conscience annual lecture on corruption

    Osinbajo, Dogara, Ambode, others for Christian Conscience annual lecture on corruption

    Issues affecting corruption and strategic directions in tackling the menace will be the focal point at the annual lecture series of the Christian Conscience group, a non-governmental and non-denominational pressure group next week Thursday, November 23.

    Operating with the theme, ‘Religion and corruption: Strategic direction in fighting corruption in Nigeria, the speaker of the House of Representatives, Rt. Hon. Yakubu Dogara, will lead government functionaries at the event as he presents the keynote address, while the executive governor of Lagos State, Mr. Akinwunmi Ambode, will be the special guest of honour.

    According to the release by the association’s National Publicity Secretary, Tunji Oguntuade, the wife of the Vice President, Mrs Dolapo Osinbajo, is expected to be the mother of the day.

    The annual lecture, which holds at the Chapel of Christ The Light, Alausa, Ikeja, Lagos, at 10am will be delivered by the Rt. Revd. Prof. Dapo Asaju, the Bishop Theologian, Church of Nigeria, Anglican Communion, and Vice Chancellor, Ajayi Crowther University, Oyo.

    Also, the former Minister of Education, Mrs Oby Ezekwesili, and the Lagos State Commissioner for Home Affairs, Hon. Dr. Abdul-Hakeem Abdul-Lateef, are expected to jointly lead a panel of discussants drawn from the public and private sectors at the event.

    The event is expected to attract religious leaders, traditional rulers, students and other eminent personalities and members of the public.

    According to the National Chairman of the group, Chief Enock Ajiboso, “the topic was carefully chosen to sensitize all the good people of Nigeria to join hands with the Buhari-Osinbajo-led government in tackling the monster called corruoption that has eaten deep into the fabrics of the nation.”

  • FFK’s unwarranted attacks on Osinbajo

    In the age of “alternative facts”, the media has been awash and desecrated with fake news, “post-truths” and outright untruths; where people who claim to be authors or journalists in their write-ups gleefully revel in these three 21st century media-related anomalies.

    And it seems a few notable names, including a former minister of aviation, have since been co-opted into the small, bitter crowd that dishes out such anomalies, disjointedly stewed with plenty of bile and hateful statements.

    Such persons have also attempted to denigrate the personality of Vice President Yemi Osinabjo, SAN, by giving their forced readers a bumpy ride with personal biases and bitterness in their words.

    Albeit, in the real world, where truth, fairness and objectivity, not alternative facts, still count for something, such articles are, at best, inconsequential, as these articles only succeed, in the end, to be indigestible to objective, sane minds, and also leave a bad taste, even in the mouths of neutrals.

    Let’s face the facts, instead of being clouded by the unreason in these disjointed articles against. Osinbajo, including one written by a former minister of aviation.

    The man who is sometimes referred to as FFK need to be reminded that officials under the former administration of Goodluck Jonathan were involved in corruption that stank to the heavens.

    On the Vice President’s comments that “100 billion naira and $289 USD million was withdrawn in cash by President Goodluck Jonathan two weeks before the presidential election ostensibly for security. This was unprecedented stealing and it led to the economic recession that we are suffering today”, FFK didn’t even present one fact when he alleged that it was “wild, baseless and frankly absurd allegations and willful and premeditated display of perfidy”. All he attempted at were unwarranted personal attacks on the Vice President, with unfounded statement and libellous claims.

    It should be pointed out to FFK that Osinbajo only scratched the surface when he mentioned that amount. Since 2015, Nigerians have come to realise the monumental corruption that happened under Jonathan’s watch; from former Minister of Petroleum Resources Diezani Allison Madueke, to former National Security Adviser, Col. Sambo Dasuki, and many other officials in the former administration that have been accused of corruption. The list goes on. Nigeria is still recovering from this wanton thievery of its national purse.

    To cover his lack of facts, he based his false claims on false claim; that he could only support with more false claims.

    Again, for the umpteenth time, there is no $25 billion NNPC contract scam anywhere. A quick reminder for FFK: no contracts were procured by the NNPC. Prof. Osinbajo, while as Acting President, only approved Joint Venture Financing arrangements.

    Also, there is no agenda by President Muhammadu Buhari to Islamise the country. Like Osinbajo noted, both the Islamic Development Bank and Sukuk bonds are not evidence of any plans by the present administration to Islamize Nigeria.

    For instance, Nigeria joined the bank in 2005, under the administration of a Christian, President Olusegun Obasanjo, while the country is today the fourth largest shareholder of the bank.

    All the article raised were simply a long list of personal grievances against the person of the vice president and the fact that he is committed to the service of his fatherland. FFK, as a former minister, should know and understand the chain of command and being under authority. Both President Buhari and the vice president are united and work together to achieve a common goal of this administration: to make Nigeria better.

    Sadly, it seems the necessary qualities of leadership, among which is service, is lost on FFK who was once a minister. It now seems that he was more focused on pursuing his selfish motives than working for his country and in tandem with his former principals.

    Also, President Buhari’s comments to the World Bank were taken out of context. The Presidency and the World Bank have since come out to clarify this. The North-east was what the President asked to be given more priority, and the north-east of the country is just a subset of northern Nigeria. In case he pretends not to know, international agencies like the World Bank and NGOs usually give more priority to crisis areas like the North-east that had been ravaged by insurgency.

    The vice president, also has condemned, in strongest terms, every form of religious, tribal or ethnic sentiments and violence by any group or individual. He also condemned hate speech, which he described as acts of terrorism.

    Even attempting to explain the bulk of disjointed statements in the article is labouring, as it lacks substance; it is almost akin to giving prominence on the table to a badly prepared dish.

    Many have adjudged the vice president, Prof. Osinbajo, to be forthright and honest. FFK and co should ask the Niger Delta elders forum, PANDEF, Christian and Muslim leaders, some of whom came to visit the Presidential Villa, Abuja recently, or even the man on the streets about the vice president’s leadership, his selfless service to fatherland and his candour. Then people should ask the same of FFK. The answers, I am certain, would be as different as night and day.

    Nevertheless, I refuse to go low, like FFK, with a series of needless personal attacks. But I would kindly leave him and his likes the wisdom in the words of the former First Lady of the United States, the elegant Michelle Obama, whose husband former US President Barack Obama, embodies everything that FFK has, sadly, shown he isn’t; leader, patriot and role model:

    “How we urge them to ignore those who question their father’s citizenship or faith. How we insist that this hateful language they hear from public figures on TV (or online) does not represent the true spirit of this country. How we explain that when someone is cruel or acts like a bully, you don’t stoop to their level. No, our motto is: when they go low, we go high.

    “With every word we utter, with every action we take, we know our kids are watching us. We, as parents, are the most important role models. And let me tell you, Barack and I take that same approach to our jobs as President and First Lady, because we know that our words and actions matter”.

  • Osinbajo, INEC chair meet in Aso Rock

    Osinbajo, INEC chair meet in Aso Rock

    Vice-President Yemi Osinbajo yesterday met behind closed doors with the Chairman of the Independent National Electoral Commission (INEC), Mahmud Yakub, at the Presidential Villa, Abuja.

    It was not clear whether discussions at the meeting only bordered on Saturday’s governorship election in Anambra State.

    At the end of the meeting, efforts to speak with Yakub on the updates of the poll failed.

    He avoided reporters.

  • Osinbajo to SANs: maintain high standards

    Osinbajo to SANs: maintain high standards

    Vice-President Yemi Osinbajo (SAN) has urged the Body of Senior Advocates of Nigeria (BOSAN) to rise up to the challenges of maintaining high ethical practices in the profession.

    He made this statement while speaking as the guest of honour at the maiden Annual Dinner of BOSAN in Lagos at the weekend.

    Osinbajo, a member of the body, compared the British legal system with that of Nigeria.

    Speaking with newsmen on the sidelines of the event, Osinbajo said: “The point I was making is that every profession has elite and in the legal profession, the obvious elite are the BOSAN. The elite has responsibilities.

    “Privileges come with responsibilities. Every elite must recognise what its own responsibilities are to the community.  So, in our own case, the BOSAN must recognise that we have  the primary duty  of ensuring that  the ethics of our profession is preserved.

    “We must see that justice is done; that the administration of justice is improved upon at all times.”

    Osinbajo said BOSAN also has a duty to promote the ethics of the  profession.

    “First of all, our role is to ensure that we maintain the highest ethics of our profession, self regulate the profession to ensure high ethical standards,  to ensure that there is discipline and that we discipline ourselves.

    “Because when you look at it, one of the important comparisons that we make is with the British system. So, I was making comparison with the British system where self regulation has helped them a great deal.

    “Their Law Society  is very strong. It ensures that wherever there is malfeasance, all those who are responsible for it are penalised immediately so that the profession will stand strong. That is what we are saying for our own association. It must be able to regulate itself.

    “Our profession also must have that kind of self regulation and we must not tolerate malfeasance or bad unethical behavior; we must say no to it,” Osinbajo said.

    Nigerian Bar Association (NBA) President Mr. Abubakar Mahmoud (SAN) praised BOSAN for its leadership role in the legal profession.

    He urged lawyers to collaborate with the NBA to promote best international practices.

    According to him, the NBA would not relent in ensuring sanity and self regulation in the profession.

    First female SAN in Nigeria, Chief Solanke Folake, who chaired the  event, praised BOSAN for its leadership initiatives.

    She spoke on the need for continuing legal education, as lawyers must keep learning.

    “The NBA as a professional body must ensure continuing legal education among its members. They should collaborate with the local branches to do this. We have problems at the Bar and we must keep trying to resolve them,” she said.

    She frowned at the way some lawyers address judges. According to her, a judge should be addressed as: “My lord”, “Your lordship”  or “the Court”. She said it was wrong to address a judge with the word: “You” because there is no “you” on the Bench.

    Former Nigerian High Commissioner to the United Kingdom (UK), Dr. Christopher Kolade, gave the Dinner Speech.

    He said leadership can only be effective where the led share in the leaders’ vision.

    “Both the leaders and followers must pursue the same objective. Both leaders and followers must respect each other,” he said.

    The Chief Justice of Nigeria (CJN), Justice Walter Onnoghen, was represented by Justice John Inyang Okoro of the Supreme Court.

    Vice Chairman of the Dinner sub-Committee of BOSAN, Mr. Paul Usoro (SAN), said the event was organised to welcome new SANs and their spouses.

    He said BOSAN would play a pivotal role in improving law practice through its Continuing Legal Education Sub-Committee, chaired by Prof. Fabian Ajogwu (SAN) and its Scholarship Sub-Committee, chaired by Deacon Dele Adesina (SAN).

    He praised the Sub-committee on the Utilisation of BOSAN Leadership Fund, chaired by Mr. Felix Fagbohungbe (SAN) , for its work.

    He also praised BOSAN Secretary, Mr. Seyi Sowemimo (SAN), for his contributions to the association’s stability, as well as the Dinner Sub-Committee Chairman Mr. Damian Dodo (SAN) for his efforts at ensuring that the maiden dinner was a success.

    The dinner was attended by prominent Bar leaders including former NBA Presidents Chief Thompson Okpoko ( SAN) and Chief Wole Olanipekun (SAN), former NBA General Secretary Mr. Lawal Rabana (SAN), Chief Joe-Kyari Gadzama (SAN), Chief Emeka Ngige (SAN), Chief Mamman Mike Osuma ( SAN), Chief Arthur Obi Okafor ( SAN), Prof. Ernest Ojukwu ( SAN), Chief Layi Babtunde ( SAN), Mrs Funke Adekoya (SAN), Funke Aboyade (SAN), Mr Umeh Kalu (SAN), Mr Kunle Ogunba (SAN) of Insolvency Forte, among others.