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  • Security beefed up in Abia ahead Tinubu’s visit

    Security beefed up in Abia ahead Tinubu’s visit

    Security has been beefed up in parts of Aba, the commercial city of Abia State and its environs, including Umuahia, the capital, ahead of the planned visit by President Bola Ahmed Tinubu to the state.

    The Nation reports that the President’s visit to the state was postponed from Saturday to today.

    Although there has not been any official statement from the state government on the visit of the President, our correspondent gathered that there have been crucial meetings between the agencies of the state government, management of Geometric Power Ltd and heads of security agencies, to ensure a successful visit of the President today.

    It was learnt that some identified black spots have been manned by security agencies, especially in Osisioma Local Government and Aba metropolis, to prevent insecurity.

    The Chairman/Chief Executive Officer (CEO) of Geometric Power Ltd, Prof. Barth Nnaji, said Aba Integrated Power Project, which would be inaugurated on Monday (today) by President Tinubu, would provide power for electricity users in the nine local governments of the state under the Aba Ring Fenced Area.

    He noted that the power plant would not only help in solving the power challenge of Aba, but also other parts of the country, as the excess power would be sent to the national grid for distribution to other parts of the country.

    Nnaji, who spoke yesterday in an interview in Osisioma Local Government headquarters of the facility, said the management of the company had committed over $800million as part of their commitment towards ensuring that the power project was a reality.

    He added that the project was the largest investment of a private sector in the Southeast.

    Nnaji, former Minister of Power, said his company had licence to produce 188 megawatts of electricity, noting that the three turbines (from the General Electric (GE) United States), already installed and awaiting inauguration by President Tinubu, would produce 47 megawatts each.

    Nnaji, who disclosed that a feasibility study carried out by the company has it that it needs about 100 megawatts because of the heavy equipment used by industries in Aba and other local governments within the ring fenced areas, said the power plant would help the industries in Aba to reduce their cost of production, which he attributed to the high cost of goods manufactured in Aba.

    Read Also: Lagos Police warn intending protesters against road blocks

    Prof. Nnaji, allaying fears of high cost of electricity by electricity users, said they would bill their customers beyond the Nigerian Electricity Regulatory Commission (NERC) approved benchmark, under whose supervision the company would carry out their activities.

    “The inauguration of the turbines will be staggered, i.e. they will be inaugurated one by one. The first turbine will increase power supply to Aba Ring Fence Area by 47MW, which is almost double of the current 25MW supply from the Niger Delta Power Holding Company (NDPHC). When the first turbine is inaugurated, it will be monitored. Once the performance is considered satisfactory, the second turbine will be inaugurated.

    “Aba and the environs may not absorb more than 100MW right now. Excess power from the three turbines will be sent to the national grid to assist other parts of Nigeria to receive more electricity.”

    Commissioner for Power and Public Utilities, Ikechukwu Monday, who was at the news briefing with the Senior Special Adviser to the Governor on Media, Mr. Ferdinand Ekeoma, lamenting that the company and the state had suffered loss in the last 20 years that the process had lingered, said Governor Alex Otti was happy that the project had become a reality.

  • UPDATED: Tinubu constitutes tripartite committee to boost economy

    UPDATED: Tinubu constitutes tripartite committee to boost economy

    In his determination to set the economy straight and create a sure future for all Nigerians, President Bola Tinubu on Sunday constituted a tripartite Economic Advisory Committee, comprising of the Federal Government, the sub-nationals and the Organised private sector.

    Tinubu called the meeting, which attracted Governors, Ministers and major players in the private sector, to seek cooperation of drivers of the various segments of the nation aboard his economic growth and diversification plan.

    The Nation learnt from reliable sources within the administration the President’s objective of calling the meeting was to mobilise the all stakeholders, especially the business class and Governors, around his administration’s policies and drive more investments from both local and foreign investors.

    “It is essentially a meeting to seek the cooperation of the business community and mobilise them around government policies and drive more investments from both local and foreign investors.

    “Some of them will also follow him to Qatar on State Visit and be part of the Business and Investment Forum in Qatar,” a source said.

    Among those at the meeting were Vice President Kashim Shettima; Governors Dapo Abiodun (Ogun); Charles Soludo (Anambra); Chief of Staff to the President, Femi Gbajabiamila; Ministers of Finance and Coordinating Minister of the Economy, Wale Edun;  Budget and National Planning, Atiku Bagudu; Agriculture and Food Security, Abubakar Kyari;Information and National Orientation, Mohammed Idris.

     Some of the private sector players at the meeting include Chairman of the Dangote Group, Aliko Dangote; Chairman of BUA Group, Abdul Samad Rabiu; Chairman of Heirs Holdings, Tony Elumelu; Group Chief Executive Officer of Pandora Plc, Wale Tinubu; Managing Director of Matrix Group, Abdullabir Aliu; Chief Executive Officer of Financial Derivative Company, Bismarck Rewane; Director-General, Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir, among others.

    Addressing his invitees, Tinubu wasted no time in tabling his proposition before them, expressing concerns for the welfare of the ordinary Nigerians and the need for government at all levels to ensure they are not disappointed.

    “Let’s look at what we’re doing right and what we’re doing wrong to bring life back to the economy. Like I said, many times, the people of this country are only the people who we have to please and we are very much concerned from students to mothers and fathers, farmers, the traders and realising that everyone of us will have to fetch water from the same well. ⁣

    ⁣”We’re looking for additional efforts that might help the downtrodden Nigerians and we will provide that hope and reassurance that economic recovery is on its way. ⁣

    ⁣”We are not saying that we have all the answers, but we will not be blamed for not trying. We assure Nigerians that we will do our best to get our marshall plan in place and fashion out the best economic future for this country,” he said.

    At the end of the meeting, some of the members of the newly constituted committee, who spoke to journalists, expressed optimism about the focus of their task and how it will affect the economy and touch on the lives of Nigerians.

    Abiodun said Governors were resolved to work with the Federal Government in cushioning the current harsh economic realities, assuring that States will be coming out palliatives, including food items that will be sold at reduced rates.

    Soludo said achieving all that were discussed and decided would require a concerted contribution of all Nigerians, disclosing that the meeting already unity of purpose.

    He further pointed out that the committee will meet from time to time to evaluate progress of action plans.

    Dangote expressed confidence that all that had been discussed could be achieved, saying “I think we had a very, very good meeting and what we discussed is generally about the economy, food security and security of the nation.

    “We discussed everything in details and there is the economic presidential advisory committee, which has been set up and I think this will look at all the issues and address them, coming from job creation, food security, coming from also reflected the economy.

    “So, all these things they have been discussed in detail. I can’t give you all the details right now, but we are hopeful and we’re a great nation. We have what it takes to turn around the economy and we’re going to do that”, he said.

    Speaking on the efforts to save the Naira’s integrity in the foreign exchange market Rabiu said the weakness of the local currency was artificial, which he said ongoing efforts at stabilising the FX market will correct.

    “It was open, it was frank and it was exhaustive and some of the issues we discussed for example, like the foreign exchange rate, which we know has always been the problem for the past two or three months.

    Read Also: Police arrests Abuja’s notorious armed robber

    “We discussed on how to bring the foreign exchange rate down because we all know that what is happening as regards the foreign exchange is artificial, it is manipulative and thank God the CBN is doing quite a lot.

    “Now, the exchange rate has come down from N1800 to maybe 1600 and N1500 now, and as you all know, everything in Nigeria is indexed to the foreign exchange, especially when it comes to stuff that we import into the country”, Rabiu said.

    Elumelu said implementing decisions reached should propel the economy and ease hardship.

    “I left this meeting with a lot of enthusiasm, excitement and optimism about the future of our country. I believe that implementing the decisions we arrived at today will propelled our economy and help alleviate the poverty in the land, help create employment and help put food on,” he said.

  • BREAKING: Tinubu sets up tripartite economic advisory committee

    BREAKING: Tinubu sets up tripartite economic advisory committee

    As part of his efforts at stabilising the economy, President Bola Tinubu on Sunday evening set up a tripartite Economic Advisory Committee.

    The committee, put together during a meeting he held with critical stakeholders at the State House, comprises representatives from the Federal, States and Organised private sector.

    Read Also: NDDC begins distribution of palliatives in Delta

    Speaking at the meeting, Tinubu said the goal is to provide “additional efforts” in stabilising the economy and ensuring the “best economic future” for Nigerians.

    Details Shortly…

  • Tinubu extols late Namibian President Geingob

    Tinubu extols late Namibian President Geingob

    President Bola Tinubu has eulogised the late President of Namibia, Dr. Hage Gottfried Geingob, for his contributions to the development of the Southern African country.

    Tinubu, who is also the Chairman of the Economic Community of West African States (ECOWAS), stated this on Saturday at the memorial service in honour of the late Dr. Geingob in Windhoek, the nation’s capital, according to a statement by the media office of the Senate President, Godswill Akpabio. 

    The Nigerian leader, who was represented by Akpabio as Head of the delegation, reflected on the long-standing bilateral ties between Nigeria and Namibia dating to the 1970s.

    He reiterated the commitment of the present administration in Nigeria to strengthen the country’s relationship with Namibia, even as he promised to work hand-in-hand with incumbent President Nangolo Mbumba.

    “On behalf of myself and the good people of the Federal Republic of Nigeria, I extend my condolences to the government and the good people of Namibia on the passing of our dear brother, President (Dr.) Hage Gottfried Geingob.

    “Our thoughts and prayers remain with you, the government, and the good people of Namibia in these very difficult times. May the strength of your nation be amplified in your National Anthem, “The Land of the Braves,” and the grace of God Almighty to provide comfort and solace in the face of this tragic loss. The people of Nigeria in their numbers stand in solidarity with you Namibians, in this moment and beyond this moment.

    “As I commiserate with you once more with you and the people of your great nation, the people of Namibia, please accept the assurances Your Excellency of my sincere and esteemed regards in this loss,” he said. 

    Akpabio also noted the solid partnership between the two nations, as well as Nigeria’s influence in trade, economy, and the political growth of the black nation.

    Read Also: Don’t join protests against FG, Tinubu- Afenifere

    The Senate President said: “As I arrived Namibia, I was surprised to meet some of my classmates whom we were together at the Federal Government College, Port-Harcourt, who are also here to commiserate with the country.

    “Nigeria happens to be one of the frontline states that assisted greatly in the struggle for the independence of Namibia and assisted strongly in the liberation of South Africa and the liberation of Angola from very far away in West Africa.

    “So, we are sharing together in the demise of this great icon and hero. Of course, Nigeria had in the past supported SWAPO, your ruling political party with materials and human development to achieve its objective of ensuring the freedom of the good people of Namibia. We granted scholarships to train a lot of Namibians in the 1970s and the 1980s, some of whom I met on arrival here in Windhoek.

    “We supported Namibia to develop its manpower immediately after independence. We have developed a lot of technical manpower for this country through technical aid in the area of education among others.”

  • Greedy politicians fuelling attacks on Tinubu over hardship -Arewa Think Tank

    Greedy politicians fuelling attacks on Tinubu over hardship -Arewa Think Tank

    A Northern group, Arewa Think Tank, has argued greedy politicians are inciting Nigerians against President Bola Ahmed Tinubu over economic hardship.

    The group said though the economy is biting so hard, it is serious as what happened during the Second Republic, adding that there is hope in the horizon.

    Addressing reporters at the weekend, the Chief Convener of Arewa Think Tank, Muhammad Alhaji Yakubu said there will be light at the end of the tunnel as Tinubu is working round the clock to find lasting solution to the situation.  

    According to him: “This issue of hunger in this country has been over dramatised, with due respect to some few genuine Nigerians that really need support, why I am saying this is because, if you look at the history of Nigeria since Independence, there is no regime that hunger, poverty has not been over dramatised in Nigeria.

    “A case study is the Second Republic, it was so over dramatised that it got the then Minister of Transportation, late Umar Dikko so angry that he had to ask question; at that time that it was over dramatised by the opposition and some few Nigerians and the press, he now angrily asked that, are Nigerians eating from the dustbins at that time?.

    Read Also: Tinubu, Shettima to attend APC Youth event

    “So I don’t want us to over dramatise this and fall into the traps of those who don’t want the administration of President Bola Tinubu to succeed. That is why I am saying this, we should be cautious because all over the world, there are economic challenges, so we shouldn’t over dramatise our own. 

    “I am not defending the government, I know that there are real issues, but let’s look at the genuine ones. We shouldn’t allow disgruntled politicians or disgruntled elements in collaboration with foreigners to disstabilise our country.

    “And I am even making this case, using the Second Republic as an example, that is, as at the time Umar Dikko of blessed memory made that statement, the Naira was at par with the Dollar. So can you imagine that, the Naira was at par with the Dollar. So let’s see how we can give Tinubu led government some breathing space and some time before we start coming down heavy on the government.

    “One of the fastest ways the Arewa Think Tank is suggesting to the federal, State and local governments to ameliorate these challenges and food insecurity in the country at the moment is for these three tiers of government to sit together and ensure that in every local government in Nigeria, N20 million is set aside every month to buy food stuffs and distribute to the most needy.

    “If this can be done in the next three to six months it will go in a long way to ameliorate this artificial food scarcity and insecurity which were created by some very greedy politicians, middle men and business men.”

  • Don’t join protests against FG, Tinubu- Afenifere

    Don’t join protests against FG, Tinubu- Afenifere

    The leader of pan-Yoruba socio-cultural and political organisation, Afenifere Chief Reuben Fasoranti has urged Nigerians not to join any protest against President Bola Tinubu’s administration due to current economic challenges.

    He urged all to exercise patience and refrain from engaging in protests or actions that might escalate tensions.

    A statement by Fasoranti made available by the National Publicity Secretary of Afenifere, Comrade Jare Ajayi, said the country is going through painful surgical solutions which will rescue it from total collapse and restoration to the path of glory.

    He said: “As the National Leader of Afenifere, and leader of the Yoruba, I address all and sundry today with a deep understanding of the challenges facing our dear country at this critical time.

    “The outcry over the hardship, hunger, and price hikes is not unexpected, yet we must come to terms with the realities of our national challenges which the present administration of President Bola Ahmed Tinubu is striving to resolve.

    “While acknowledging the hardships faced by our people, it is important to recognise that these economic measures, although difficult, are part of a larger strategy aimed at fostering long-term economic stability.

    “The government’s commitment to implementing these measures is a testament to its dedication to addressing the root causes of our economic challenges, inherited from the ills of the previous years.

    “As a responsible leader, I appeal to every Yoruba man and woman, young and old, and our fellow citizens across the nationalities, to exercise patience and refrain from engaging in protests or actions that may escalate tensions”.

    Read Also: NLC’s planned protests contempt of court – AGF

    Fasoranti pointed out the immediate impact of the economic reforms would always be challenging to everyone, adding that it would be crucial to give government necessary time to realise the intended benefits.

    He said measures being taken by Federal Government, though painful in the short term, are designed to create a more sustainable economic environment that will benefit us all in the long run.

    The Yoruba leader however called for collective understanding and resilience from every citizen as the nation navigated through the challenging times.

    He urged Nigerians to trust in the government’s commitment to the welfare of the nation, calling for engagement in constructive dialogue and contribute positively to the ongoing economic reforms.

    Fasoranti said: “It is important to note that the removal of fuel subsidies and the floating of the Naira was not undertaken lightly, as we all know the great damage done to our national prosperity through the nefarious activities of the agents of darkness within the oil and financial sectors.

     “These measures by the Federal Government, though painful in the short term, are designed to create a more sustainable economic environment that will benefit us all in the long run. It requires collective understanding and resilience from every citizen as we navigate through these challenging times.

    “We cannot afford a preference for the euthanasic approach of painless death of our nation, where we are propped up with loans and subsidies until a total collapse into a failed nation, while we have the opportunity of painful healing through treatment with multiple surgeries that will guarantee not just our survival, but restored health, vigour and thriving life.  We must endure today’s hardship for tomorrow’s prosperity.

    “I implore you to trust in the government’s commitment to the welfare of our nation. Let us engage in constructive dialogue and contribute positively to the ongoing economic reforms. Join me in appealing for unity and understanding among our people. Together, we can weather this storm and emerge stronger as a nation.

    “I want to assure you as the Leader of Afenifere, that we are actively engaging with the government to address the concerns of our people. Let us remain steadfast, patient, and united in the face of these challenges, confident that our collective resilience will pave the way for a more prosperous future”.

  • Business & investment forum with Tinubu will hold – Qatar

    Business & investment forum with Tinubu will hold – Qatar

    Qatar has confirmed the business and investment forum proposed by President Bola Ahmed Tinubu during his visit on March 2-3 will hold. 

    This followed rumoured cancellation of the forum after a leaked memo on Saturday claimed Qatar declined the forum over the unavailability of it’s Minister of Commerce and Industry, Mohammed Bin Hamad Al-Thani.

    The Nation had reported the Presidency’s reported the Qatari government did not snub Tinubu.

    A statement by Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, on Saturday reads: “It is not correct for anyone to insinuate that the Qatari authorities have snubbed the Nigerian leader over a business and investment forum which is tangential to the all-important state visit and which President Tinubu is slated to attend as a guest.” 

    Read Also: Tinubu’s visit to Qatar not cancelled – Presidency

    Qatar Embassy in a memo dated Sunday, February 25 addressed to the Ministry of Foreign Affairs also confirmed that the business forum will hold during Tinubu’s visit.

    The letter reads: “Regarding the upcoming State visit of H.E. Bola Ahmed Tinubu, President of the Federal Republic of Nigeria to Qatar from 2nd-3rd March 2024 and with reference to our Note: Ref: QEA/FA/057/24 dated 22/02/2024 regarding holding of a Business and Investment Forum (BIF) on the margins of Mr. President’s visit to Qatar on 2nd March 2024.

    “The Embassy has the honour to convey that the Qatar Chamber of Commerce will host the above-mentioned event on March 3, 2024 as proposed by the Nigerian side.”

  • Forum prays for Tinubu, INEC chair, Govs, others

    Forum prays for Tinubu, INEC chair, Govs, others

    A non-governmental organisation, the National Unity Forum, on Sunday converged on the Unity Fountain, Abuja to engage im intercessory prayers for President Bola Ahmed Tinubu, the 36 Governors and all others in positions of authorities in the country. 

    A statement by the National Coordinator of the forum, Com. Godwin Meliga, noted the group’s decision to resort to prayers to God as a way out of the myriad challenges confronting the nation was informed by the time-tested efficacy of prayer. 

    The group, composed of Christians and Muslims, has also set aside the 25th day of February every year as its National Intercession Day. 

    It enjoined all patriotic citizens, regardless of their faiths, to consider it a  civic obligation to spare some moments on the 25th of February every year to join their hearts in prayers to God for national peace, unity and progress.

    After the session of prayers, worship and thanksgiving at the Unity Fountain, the group embarked on a solidarity walk to the Headquarters of INEC in Maitama, where they specifically prayed for the Chairman of the Commission, Prof. Mahmud Yakubu, and the success of all subsequent elections in Nigeria. 

    Read Also: FULL TEXT: President Tinubu’s speech at the ECOWAS Authority’s Extraordinary Summit

    The group thanked Prof. Yakubu and his team for their strident efforts at ensuring the success and credibility of the 2023 General Elections. 

    It argued given the tensed state of the national polity prior to the last general elections, due mainly to socio-ethnic and geopolitical diversities, any attempt by INEC to have delivered a compromised electoral process could have triggered violent upheavals across the country, which may have threatened the very fabrics of our mutual coexistence. 

    “But the fact that INEC, under Prof. Yakubu, was obviously above board in the discharge of its mandate during the last general elections, helped to a great extent in disarming all those nursing sinister intentions for the country, including all those who may wish to capitalize on the outbreak of widespread electoral violence to achieve their narrow destabilization agenda for Nigeria,” Meliga stated. 

    He further stated that while other Nigerians may resort to acts of self-denial, civil disobedience and open protests in order to express their disenchantment with the prevailing socio-economic and political challenges facing Nigeria, his group resorted to praying because it was the best option for the country at the moment, citing the book of Job 12:23 -25, “He (God) makes nations great, and destroys them; he enlarges nations and dispenses them.”

  • ‘Tinubu must ban cash dollar transactions to save Naira’

    ‘Tinubu must ban cash dollar transactions to save Naira’

    President Bola Tinubu must sign an executive order banning all cash dollar transactions if the Naira must be saved, Group Managing Director and Chief Executive Officer (CEO) of CFL Group of companies, Lai Omotola, has said. 

    Omotola added the President must also ensure that all dollar transactions is between bank to bank. He proposed that the maximum cash any citizen and foreigner can hold should be $100, adding that any amount exceeding this should be automatically forfeited to the Federal Government. 

    The engineer also proposed a total ban on street vending of dollars.

    He said: “It is no longer news that the economy is in a precarious state. There is foreign exchange and food crisis. But we are not here to labour time on the problems but rather to proffer solutions.

    “As a business concern of over 25 years, we have lived 100 per cent of all different administrations. 

    “To save our Naira, we propose that the President signs an executive order banning all cash-dollar transactions across Nigeria. All dollar transactions should also be bank to bank. 

    “The maximum cash any citizen and foreigner can hold should not be more than $100 dollars. Any amount exceeding this will be automatically forfeited to the government. There should be a total ban on street vending of dollars. 

    Read Also: FULL TEXT: President Tinubu’s speech at the ECOWAS Authority’s Extraordinary Summit

    “In as much as cash dollar deposits cannot be probed, every dollar payment from banks will be scrutinised.”

    Omotola also proposed that amnesty should be given to everyone paying dollar cash for the next 90 days, and that such cash lodgment should not be probed by the EFCC or any security agency.

    According to him, the government should adopt a 100 per cent cashless policy in five commercial states and the Federal Capital Territory (FCT). 

    He further urged the government to activate the Whistleblowers Act to reward anyone who tells the government about hidden dollar. 

    He added: “The following states should go 100 per cent cashless. Lagos, Kano, Kaduna, Rivers, Enugu and Abuja. The maximum amount of cash anyone can hold in these states should not be more than N50,000.

    ” If the above is implemented to the letter, which also includes a stop on the continuous printing of the new naira notes, but the old ones, the naira will appreciate by 50 per cent in the next 30 days. 

    “The Naira will move between N700 and N800 and, by the end of the year, the true value of the naira to the dollar will emerge.”

  • Tight security in Abia ahead of Tinubu’s visit

    Tight security in Abia ahead of Tinubu’s visit

    Security has been beefed up in various parts of Aba, the commercial nerve and its environs, including Umuahia, the state capital ahead of the planned visit of President Bola Ahmed Tinubu to Abia State.

    The Nation reports that the President’s visit to the State was postponed from Saturday, February 24 to February 26.

    Though there has not been any official statement from the State Government on the visit, The Nation gathered that there has been series of crucial meeting with heads of various agencies and security agencies for successful visit of the President on Monday.

    It was gathered that some identified black spots have been manned by the security agencies, especially within the Osisioma local government area and Aba metropolis to prevent break down of law and order.

    The chairman, CEO of Geometric Power Limited, Prof. Barth Nnaji has assured the Aba Integrated Power project which would be commissioned by President Bola Tinubu foe supply of power to electricity users within the nine local government areas of Abia State under the Aba Ring Fenced Area.

    He noted that the power plant would not only help in solving the power challenge of Aba but other parts of the country as the excess power would be pushed to the national grid for distribution to other parts.

    Read Also: Tinubu’s attempt at exorcising ‘evil’ in the civil service

    Nnaji, who spoke in an interview at the Osisioma local government headquarters of the facility on Sunday, while disclosing that the management of the company has committed over $800m as part of their commitment towards ensuring that the power project was a reality said that the project was the largest investment of a private sector in the entire Southeast geopolitical region of the country.

    According to Nnaji, who was a former Minister of Power, his company has a license to produce 188 megawatts of electricity, adding the three turbines from the General Electric (GE) in United States have been already installed and would be producing 47 Megawatts each.

    The former Minister, who informed that a feasibility study carried out by the company has it that about needs about 100 Megawatts because of the heavy equipment used by industries in Aba and other local government areas within the ring fenced areas, stated that the power plant would help the industries in Aba to reduce their cost of production which he attributed to the high cost of goods manufactured in Aba.

    Abia Commissioner for Power and Public Utilities, Engr. Ikechukwu Monday, who was at the briefing with the Senior Special Adviser to the Governor on Media, Mr. Ferdinand Ekeoma, while lamenting that the company and the State have suffered loss in the last 20 years that the process had lingered, said Governor Alex Otti was happy that the project has become a reality.