Monday, 26 October 2015

Adeyeye Enitan Ogunwusi is new Ooni of Ife

Adeyeye Enitan Ogunwusi
The Osun State Government has unveiled a new Ooni of Ife.

He is Adeyeye Enitan Ogunwusi, a 40-year old real estate magnate and prince from the Giesi Ruling House in the town.

He becomes the 51st Ooni of Ife.

The Secretary to the Osun State Government said the selection of the new Ooni followed the completion of all processes for the filling of the exalted stool.

Mr. Ogunwusi was selected from 21 candidates presented by the Giesi ruling house for the exalted stool.

The statement said, “The Governor of the State of Osun, Ogbeni Rauf Adesoji Aregbesola has approved the appointment of a new Ooni of Ife.

“He is Prince Adeyeye Enitan Ogunwusi of Giesi Ruling House of Ile-Ife, State of Osun.

“This choice follows the completion of the due process by the kingmakers and the communication of their decision to Government.”

The announcement of a new traditional ruler for the ancient town came 89 days after the death of Oba Okunade Sijuwade at a London clinic.

Mr. Sijuwade passed on after a brief illness on July 28, although Ile-Ife chiefs only confirmed his death on August 10.

Who is Adeyeye Ogunwusi?

Born 40 years ago into the family of John Oluropo Ogunwusi from the famous Ojaja Lineage of the Giesi ruling house of the Agbedegbede Quarters in Ile-Ife, Prince Ogunwusi’s mother, Margaret Wuraola Sidikatu Abegbe Ogunwusi, was born into the family of Soji-Opa, a prominent Cocoa merchant in Ile-Ife.
Mr. Ogunwusi attended The Polytechnic, Ibadan, where he obtained a Higher National Diploma (HND) in Accountancy.
After school, he grew rapidly in business, becoming a successful real estate merchant.
His bio on the website of Imperial Homes Mortgage Bank Limited (a subsidiary of GTBank) on which board he sits as non executive director, reads, “Mr. Ogunwusi is a graduate of Accountancy and a certified member of the Institute of Chartered Accountants of Nigeria and of the Institute of Management.
“He has been involved in engineering, procurement and construction (EPC) contracts locally and abroad for over 11 years.
“He was involved in the development of the Northern Foreshore Estate, Cityscape International Limited’s Buena Vista project in Lekki, Primewaterview Limited’s projects, Westcom Limited’s projects, and the Ajaokuta Steel’s and Delta Steel’s resuscitation projects
“Adeyeye (Ogunwusi) is currently the Managing Director of Howard Roark Gardens Limited which is undertaking multi-million naira Jacob Mews Estate project in Yaba and the Lakeview real estate development in Lekki.”
To become Ooni, Mr. Ogunwusi defeated 20 other contenders, including his 48-year old real estate- magnate brother, Adetunji, the Group Chairman of Primewaterview Holdings (comprising of Primewaterview Limited and PWV Management Services).

Saturday, 24 October 2015

BREAKING: Tribunal sacks Wike as Rivers Governor, orders rerun

The Rivers State Election Petition Tribunal has sacked Nyesom Wike as the Governor of Rivers State.

The tribunal, which delivered its ruling in Abuja on Saturday, also ordered that a fresh governorship election be conducted in the state.

The petition challenging the election of Mr. Wike as Rivers State Governor was filed by Dakuku Peterside, the candidate of the All Progressives Congress, APC, in the election.

The Rivers governorship election, which was criticised by local and international observers, witnessed the largest amount of violence both in its build-up and after the elections.
More details later…

Friday, 23 October 2015

Tribunal affirms Amosun’s election, dismisses Isiaka’s petition

The Governorship Election Petitions Tribunal, sitting in Isabo, Abeokuta, Ogun State, has affirmed the election of the state governor, Senator Ibikunle Amosun, as the winner of the April 11 state’s governorship election.

The three-man panel, headed by Justice Henry Olusiyi, ruled that the petitioner failed to prove his case of electoral fraud in nine local government ares beyond reasonable doubt.

In a judgment that lasted for four hours, 20 minutes, Justice Olusiyi said, “The case is hereby dismissed for lack of merit.”

The Peoples Democratic Party candidate, Mr. Gboyega Isiaka, had challenged the election, which returned the incumbent, Amosun of the All Progressives Congress, as the duly elected governor in the April 11 election.

He had alleged that the election was fraught with irregularities and electoral malpractices in nine local government areas of the state, asking the elections in those areas to be cancelled.

No plans to sell refineries, JV assets – Osinbajo

Vice President Yemi Osinbajo has said the Federal Government is not currently planning to sell the nation’s four refineries or part of its stakes in joint venture assets in the oil and gas sector.

The Group Managing Director, Nigerian National Petroleum Corporation, Dr. Ibe Kachikwu, was recently reported to have said that any of the refineries that failed to work optimally at the expiration of a 90-day ultimatum would be sold.

Kachikwu was quoted by the News Agency of Nigeria on September 25 as saying, “By the end of December when the 90-day ultimatum will expire, any refinery that does not work optimally will be sold.”
 
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Asked if selling the refineries or government’s stakes in joint venture assets was on the table, Osinbajo said in an interview with Bloomberg, “At the moment, we are not considering any of those. Of course, they are options that are always there. These options are always there – selling our stakes in joint ventures and all of that. But we think that we are able to resolve some of the cash call difficulties that we have experienced in past years.

“We think that some of what is taking place – the incorporation of the JVs and the JV partners being able to simply borrow, even on behalf of the Federal Government – I mean, able to introduce their own capital into it. These are just ways that we can raise our own portion of contributions to the joint ventures.

“It will only be a last resort to sell down government’s stakes in the joint ventures and we don’t think we have come anywhere near that.”

Osinbajo said the present administration wanted to encourage the development of private refineries in order to cut Nigeria’s dependence on imports.

More than 30 licences for refineries have been granted and private refineries will be allowed to build near the state-run units so that they can “benefit from the available infrastructure,” he said.

The country of about 180 million people subsidises fuel and relies on imports for more than 70 per cent of its supply. Two state-owned refineries in Port Harcourt, with a combined capacity of 210,000 barrels per day, are currently producing at 67 per cent of capacity, while others in Warri and Kaduna were shut, Kachikwu told the Senate last week.

“In the medium term, we will be able to get cheaper pump price of oil because we will be importing far less refined petroleum,” Osinbajo said.

Commenting on the Petroleum Industry Bill, the vice president said breaking up the PIB into smaller laws focused on fiscal and regulatory measures in the energy industry would make it easier to pass through parliament. The bill, first presented in 2008, will be resent to lawmakers in the first quarter of 2016.

“Separating the PIB and breaking it up, obviously is the way I would think that we’ll proceed,” Osinbajo said, adding, “That’s really what the market has been waiting for.”

The proposed law has been held up largely by political wrangling and objections by international oil companies, which say the government is demanding too big an increase in its share of revenue. The delays have caused uncertainty and are costing $15bn a year in lost investments, according to Kachikwu.

The country depends on crude exports for about two-thirds of state revenue and more than 90 per cent of export earnings. A drop in crude prices in the past year has put pressure on public finances, while the naira has declined by 7.4 per cent against the dollar this year.

The NNPC’s divisions will be unbundled to make them more efficient and the corporation will assume more of a regulatory role “as the private sector takes most of the downstream,” Osinbajo said.

However, the government is not considering selling its stakes in ventures with oil companies, which will be a “last resort,” he added.

The nation’s oil and gas production structure is majorly split between joint ventures onshore and in shallow water, with foreign, local companies and production sharing contracts in deepwater offshore.

The NNPC owns between 55 per cent (for JVs with Shell) and 60 per cent (for all others) and the JVs are jointly funded by the oil majors and the government through the corporation.

Work begins on 650,000bpd Dangote refinery

Work on the 650,000 barrels per day Dangote refinery being constructed at the Lekki Free Trade Zone in Lagos is currently at the sand-filling and soil piling stage, while some portions of the complex are being cleared of vegetation.

This stage of construction, the firm said, was not in any form a threat to the December 2018 completion date of the project.

It also maintained that the current construction stage was the most critical for the project and needed to be done meticulously and professionally.

Speaking during a facility tour of the refinery complex on Thursday, the Senior General Manager, Civil and Structural, Dangote Oil Refinery Company Limited, Mr. Madhav Kelker, said the refinery would commence operations in 2018 as initially scheduled.
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He said the Dangote Group was building the largest refinery, petrochemical and fertiliser complex in Africa, with the petrochemical plant planned to produce 750,000 metric tonnes per year of polypropylene, while the fertiliser plant would handle 2.8 million metric tonnes per annum of urea and ammonia.

The 2,600-hectare land is undergoing advanced soil testing in some portions, and this is being handled by a South African firm based in India, Sarathy Geotech.

Kelker said, “The filling and piling work must be done first, and it must be done properly using the best available technologies in the world. It is a very critical part of the project.

“After this stage, we will commence the assembling and coupling of facilities. This will take us a few months. Some parts of the complex are currently being dredged and we are working with a Belgian firm, Jan De Null, in this respect.”

He added that many other companies were making progress at the Lekki Free Trade Zone, stressing that challenges from the host communities were being surmounted by the Dangote Group.

Speaking on the refinery’s location, Kelker explained, “Most people build refineries in porches and phases. This is a state-of-art technology with everything about the refinery situated in one site. The entire value chain (from crude injection to the end products and by-products reprocessing) are done in one site.

“Though the domestic market is big enough, we want to satisfy the market and serve other countries through petroleum products’ exportation. We will be saving foreign exchange for the country by refining locally, and we will also be generating foreign exchange for the country from proceeds generated from product exports.”

The Chairman, Dangote Group, Alhaji Aliko Dangote, had said in 2013 that the project had effectively taken off with the award of the engineering, procurement and construction contract for the fertilizer plant to Saipem of Italy.

6 Killed, 17 injured in another Maiduguri Mosque bombing



Military sources disclosed early today that a suicide bomber blew himself up inside a Mosque during the morning Islamic ‘Subhi’ Prayers in Maiduguri killing 6 persons while 17 others were injured.

Confirming the suicide attack, the National Emergency Management Agency said its rescuers evacuated six dead bodies of the victims of the early morning suicide bombing.

A senior health worker also confirmed that the 6 bodies have been deposited in the mortuary, while the 17 other injured victims are being treated in Specialist and teaching hospitals in Maiduguri.

The mosque is located behind Magistrate Court, Polo Area in Maiduguri.

It was gathered that the explosion was carried out by a suspected lone suicide bomber while his two accomplices escaped, when some vigilant members of the community accosted them on their suspicious movements.

Electricity tariffs to rise by 40% next month

Plans have been concluded to increase electricity tariffs by as much as 40 per cent for some customers next month as a fall in the value of the naira and rising costs hinder efforts to end daily blackouts in Africa’s largest economy.

“We are working on the numbers and going through the processes,” Bloomberg quoted the Chairman, Nigerian Electricity Regulatory Commission, Dr. Sam Amadi, as saying.

According to him, some tariffs will increase by five per cent, while others will see prices raised as much as 40 per cent, depending on the electricity distribution companies and class of customer, adding that the change in rates would take place mid-November.
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After proposing to NERC last week an average increase of 49.4 per cent in electricity tariffs for residential customers, the power distribution companies have also sought a hike in the rates payable by commercial consumers by 21 per cent on the average. Their demands, however, are subject to approval by NERC, the regulator of the power industry.

A copy of the proposed tariff for residential customers by the power firms showed that the average percentage increase in tariff as presented by 10 Discos was 49.4 per cent.

The Abuja, Benin, Enugu Jos and Ibadan power distribution firms proposed 48 per cent, 61 per cent, 60 per cent, 63 per cent and 56 per cent increase in tariffs for R1 customers, respectively.

Similarly, the Ikeja, Kano, Port Harcourt and Yola Discos proposed 32 per cent, 40 per cent, 46 per cent and 83 per cent increase in electricity tariff in their submissions to NERC, while the Eko Disco requested the least increase in tariff at five per cent for R1 customers.

For commercial consumers, the firms are proposing 21 per cent increase in tariff for those in the C1 category.

The document defines a commercial consumer as a person who uses his premises for any purpose other than exclusively as a residence or as a factory for manufacturing goods.

Seven out of the 10 distribution firms that submitted proposals to NERC demanded various percentage increase in the tariffs of their commercial consumers.

The Enugu Electricity Distribution Company is seeking 56.53 per cent increase in the commercial tariff; Jos, 30.01 per cent; Ibadan, 18.64 per cent; Ikeja, 25.02 per cent; Kano, 46.93 per cent; Port Harcourt, 10.99 per cent; and Yola, 43.16 per cent.

Two of the firms, the Abuja and Eko Discos, did not request any increase, while the Benin Disco reduced its commercial tariff by 23.55 per cent.

The country unbundled its power monopoly and sold 15 generation and distribution companies in 2013 to private investors in an attempt to end the crippling electricity shortages.

Generated output had never risen above 5,000 megawatts, which is about a third of peak demand, while the state-owned transmission system cannot deliver any more than that before it starts breaking down.

Efforts to boost power supply have been hampered by factors including gas supply, foreign exchange shortage and inflation that have increased the cost of energy and infrastructure for the power companies, Amadi said.

“The law provides for periodic price review when the cost profile changes,” he added.

A slump in crude prices in the past years has put pressure on the naira, forcing the Central Bank of Nigeria, which bailed out the power companies last year, to twice devalue the currency since November. The inflation rate climbed to the highest in more than two years in September to 9.4 per cent.

Six lessons we have learnt by Reuben Abati



The democratic experience in Nigeria has definitely been a continuing learning curve, and the more lessons we learn at various active centres: people, platforms and processes, the richer our democracy, the stronger the society evolves to deliver a brighter future for the sovereign.

The greatest residue of our democracy in the last 16 years (1999–2015), I think, is the manner in which our community has been enriched by lessons that have practically changed our lives. The democratic deficit is less than the gain; for us, democracy is essentially liberative and should endure. It is partly the reason why no matter the observed shortcomings of the five-month old Buhari administration, the Nigerian people remain optimistic about their belief in the viability of the democratic option. They know that they have been empowered in such a manner that succeeding governments will always be held accountable to the electorate. Thus, democracy has reframed the national dialogue and the people’s expectations.

In 1999, with the return to civilian rule, the Nigerian people secured victory against a military establishment, which had exercised political authority, formally and informally, for about 33 years. They fought for six years to insist on democracy and the people’s right to choose. Sixteen years later, after many seasons of trial, we have reached a point in our romance with democracy, whereby no other form of government appeals to us. It is clear to every discerning person that only democratic rule is now acceptable to Nigerians. For it has shown us, how powerful we can possibly be. No other event has proven this to be true, more concretely than the last general elections. It should not be lost on Nigerians, the significance of the removal from office of an incumbent President.

In 2015, the power of the vote turned the Nigerian voter into the ultimate political authority, resulting in a greater sense of public ownership of the democratic enterprise. He or she knows that elected representatives can be held accountable through the ballot box. Democracy, building on the increased access to information and social interactions, has thus given Nigerians of voting age a voice and power that they never imagined possible. Military figures still show up and occupy high positions, but they do so only through the democratic process and it is only a matter of time before the myth of the military strong man being fit for public office will be completely exploded and laid to rest. In reality, the military’s political authority is diminished as old soldiers seek legitimation through the people. It is a great achievement for Nigeria.

Secondly, in 2005, an attempt was made to bypass the Nigerian Constitution and extend to a third term, the tenure of the then incumbent President. This alleged plan against the people was to have been hatched with the imprimatur of the national legislature, but again the people rose against the planned subterfuge. Pierre Nkurunziza may have succeeded in executing the same anti-people ploy in Burundi, and Paul Kagame may be toying with it in Rwanda, but it is not the kind of folly that anyone will ever try again in Nigeria and hope to succeed. The people have learnt that those in positions of power at the highest level may not be trusted to respect the laws of the land or the oath of office they took. Having stopped one former President from transforming into a monarch, the phrase – third term remains in our political lexicon, a reminder of what is constitutionally unacceptable. And for Nigerians, “stayism”, sit-tightism” or the Biya disease is definitely risqué. When people are elected to high office, they will not be allowed to change the rules of the game to suit their own purposes.

Third lesson: Nigerians have become very conscious of the implications of the health of their leaders for the stability of the polity. They were taught that lesson during the three-year rule of late President Umaru Musa Yar’Adua. At the time, the key subject was the mortality of the President. From that point onwards, any sign that a potential President could be nursing a terminal disease became a major campaign issue. President Yar’Adua’s death threw up other sub-lessons about the supremacy of the Constitution and the right of other Nigerians to aspire to the highest office in the land, but the people would have preferred to have him healthily alive and not to have a Presidency dominated by morbidity and remembered, and excused, largely on that score. It is therefore not surprising that in the last elections, physical fitness and mortality became key issues of campaign.

Fourth lesson: that any Nigerian child regardless of the manner of extraction can aspire to the highest office in the land. With his emergence as Nigerian President in 2010, Goodluck Jonathan laid to rest the myth that to occupy that office, the candidate must be a person of privilege. His parents were ordinary folk. He was himself like the guy next door; his life a replica of the life of any struggling Nigerian of his age who had attended university, gone through national service, hustled for employment and was like the rest of us.

Hitherto, Nigerian leaders had elite connections or bearings and they wielded authority as if it was their birthright to do so. This claim to leadership birthright is now a subject of inquiry. It explains why in the last general elections, it became clear to all and sundry that there are now certain minimum standards being set nationwide in terms of personal attributes, experience and exposure with regard to public office. That is precisely the way our democracy has turned out: it has built confidence at all levels, and every Nigerian imagines himself to be a potential President. This is good, for as many people as imagine themselves to be national problem-solvers, the better for our community. However, President Jonathan was the first to prove the point that any citizen whoever he or she may be, can aspire to the highest office in the land and receive popular support.

Fifth lesson: when President Goodluck Jonathan conceded victory to President Buhari after the 2015 elections, he raised the moral bar of our democratic process. Nigerians have taken to heart the fact that the people have the power to change a sitting government at all levels and that the power of incumbency even at the centre is at the mercy of the electorate. These days, it is not unusual to find an average Nigerian of voting age holding an elected person accountable and swearing that any form of misconduct will be questioned. Good news!

What prevails in Nigeria today therefore is not merely voter confidence; it is best described as voter arrogance or voter dictatorship. In Ekiti, they voted out a well educated, cerebral Governor and replaced him with someone with a popular touch, and they have stubbornly defended their choice. In Abuja, they replaced a young Ph.D holder with a retired old man, called back to serve and “restore.” With the way the Nigerian voter has seized power in the public sphere, only his or her wishes can prevail. And so in the future, with the Jonathan example and experience, no incumbent can hold on to power once the people have spoken. The Nigerian voter is further empowered by digital revolution. He votes on election day with his card, but he votes everyday with his phone, with his access to internet platforms, and he speaks loud and clear, honestly or mischievously depending on his or her constitution. The Nigerian people can no longer be ignored. Positive development? Certainly. But all of what we describe has been made possible by the strengthening of the electoral institutions and processes. It is hoped that successive administrations will see the need to protect and preserve the integrity of electoral bodies, and thereby deepen emergent confidence in their capacity to deliver free, fair and credible elections.

Sixth lesson, and this is probably the most important. Nigerians have learnt after 16 years of democratic rule not to place implicit trust in politicians without asking for accountability. They know that professional politicians are capable of lies, they deceive, they over-promise in order to secure their mandate, and also, that there are no true saints in power-ville. They are also learning that election campaign is different from governance, that governance is complex, politics is treacherous, and that politicians will say anything to win the votes and get into power. A corollary lesson: to resolve the cleavages that trouble Nigeria and render institutions ineffectual, government must be effective and our democracy must become more liberal and less of a mechanism for class formation and ethnic competition.

Five months of reverse ratiocination by the Buhari administration should make that clear even to the most naive. The people should also know that politicians have no differences on matters of self-interest; and they choose to exploit our many fault lines to achieve their objectives. They can be in this party today and move to the other party tomorrow – which we may see again in 2019. Nigerian politics is therefore not about ideology or principles; it is about power and who gets into the arena. But the people have also learnt one more thing: that change is possible, no matter the shape. And the power to effect change lies in their hands, for we have in 16 years managed to create a citizenry that is both deliberative and participative, whose notion of the state is that it must be affirmative, competent and constructive. This is a major victory for Nigeria and for democracy.

Monday, 12 October 2015

NNPC denies reduction in fuel price to N57/litre



 
The Nigerian National Petroleum Corporation, NNPC, Monday, debunked reports that the pump price of Premium Motor Spirit, also known as petrol has been reduced to N57 per liter.

The NNPC, in a statement in Abuja, described the report as false and advised members of the public to ignore such tales noting that the price of petrol remains N87 per litre.

The NNPC also promised to work with other downstream petroleum sector stakeholders to eliminate obstacles to the free flow in supply of petroleum products across the country.

To this end, Mr. Ibe Kachikwu, Group Managing Director of the NNPC, has promised to work with other relevant Federal Government agencies to fast track the payment of the outstanding subsidy claims to oil marketers.

In the interim, Kachikwu promised to arrange for a meeting with the relevant creditors (bankers) to ease off pressure on marketers and extend the credit lines.

He added that several financing mechanism are being explored to offset the commitment to oil marketers.

He hinted at the possibility of exploring the monthly payment option, stating that the Federal Government might, in the future, explore some creative means to prevent backlogs.

The NNPC also stated that the meeting held in its office in Abuja yesterday, with members of the Major Oil Marketers Association of Nigeria, MOMAN alongside the Depot and Petroleum Products Association, DAPPMA, was a major step towards ensuring zero fuel queues throughout the country ahead of the forthcoming yuletide and beyond.

Addressing the downstream stakeholders at the meeting, Mr. Ibe Kachikwu, Group Managing Director of the NNPC, stated that the issue of uninterrupted supply and distribution of petroleum products across the country is of utmost importance to the present administration.

He noted that the Federal Government is willing to do everything possible to ensure that members of the public do not go through any form of hardship in accessing petroleum products particularly PMS.

Speaking on behalf of major oil marketers, Femi Olawore, Secretary General, MOMAN, commended Kachikwu for his support and pledged the readiness of the marketers to work assiduously with the Federal Government in ensuring zero fuel scarcity across the nation in the forth coming yuletide and even beyond.

Olawore called on Kachikwu to facilitate the institution of a special committee to verify and authenticate the current national PMS consumption figure of 40 million litres per day.

Also, Mr. Dapo Abiodun, Chairman of DAPPMA commended the NNPC for what he termed improved services at various PPMC product loading facilities and urged the new Management of the company to sustain the tempo.



Breaking: Saraki receives 2nd batch of ministerial list


Senate President, Olubukola Saraki on Monday received the 2nd batch list of ministers to work in the cabinet of President Muhammadu.

The Senate President confirmed  the arrival of the 2nd batch of the ministerial list on his official Twitter handle.

The list was delivered by Chief of Staff to the President, Abba Kyari and Senator Ita Enang. (VANGUARD
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