Nation
Nigeria Mismanaged Asia Oil Deal – Reports
Nigeria has mismanaged relations with Asian oil firms thereby failing to capitalise on deals which could have helped it develop its infrastructure, and leaving $20 billion of investment at risk, think tank Chatham House said on Monday.
Former president Olusegun Obasanyo sought partners in China, India, South Korea and elsewhere to buy oil blocks before leaving office in 2007 in return for billions of dollars of infrastructure and downstream investment.
But neither has there been a single barrel of oil produced by Asian national oil companies in Nigeria, nor has any downstream commitment been started, leaving the Nigerian economy with no tangible benefit, the London-based organisation said.
“President Obasanjo’s stated grand design to achieve a ‘development dividend’ through the oil-for-infrastructure scheme with Asian national oil companies has fallen apart,” it said.
“With it went the impact that it might have made on the Nigerian landscape,” Chatham House said in a 60-page report.
Five decades of oil extraction in Africa’s most populous country has enriched a small elite, but the vast majority of he country’s estimated 140 million people still live on two dollars a day or less.
Chatham House blamed the lack of progress on political interference in what should have been purely business decisions.
“The scale of the corruption, mismanagement and non-execution of projects in the Obasanjo years has sent shock waves through Nigeria,” the report said.
“His intentions were good but officials failed to spell out the full implications of the scheme. And many used the scheme for private profit. It might have been a good idea on paper but the spirit was breached in the implementation.”
The administration of President Umaru Yar’Adua, who took office in May 2007, has been reviewing deals struck under Obasanjo, cancelling the sale of oil retineries and reviewing oil licensing rounds.
Yar’Adua in January revoked two oil exploration licences awarded to Korea National Oil Corp (KNOC), saying the Korean firm had failed to pay the investment pledged.
KNOC, which says it met its obligations, has taken the case to court and the outcome is being closely watched by an industry concerned that rights awarded by one Nigerian government can easily be overturned by the next.
Chatham House said, following the cancellation of a Korean gas pipeline project and a contract with China to build a railway from the commercial hub Lagos in the south to the city of Kano in the North, $20 billion of investment promised by Asian national oil companies in 2005/06 was at risk.
Chatham House contrasted the Nigerian experience with that of Angola, where it said President Jose Eduardo Dos Santos’ almost 30-year tenure had boistered a stable central government and helped create a functional national oil company, Sonangol.
That stability had helped Angola emerged as the second largest supplier of oil to China last year and helped the African country secure at least $13 billion in oil-backed loans from Beijing to help finance essential post-war reconstruction.
Nation
FRSC To Begin 24-Hour Patrol To Curb Crashes
The Corps Marshal of the Federal Road Safety Corps, Shehu Mohammed, yesterday lamented the spate of fatal road crashes in September.
He specifically raised concerns about the accidents that occurred on September 8 in Niger; September 12 in Sabon Wuse, and September 15 in Kaduna State.
These three incidents, according to him, resulted in the tragic loss of at least 91 lives. Speaking during a meeting with fleet operators and other stakeholders in Abuja, Mohammed expressed frustration that despite the government’s efforts to provide and maintain transport facilities according to global standards, many drivers continue to undermine these efforts with reckless behavior on the roads.
“In the last month or thereabouts, the corps witnessed three landmark crashes that were caused by negligence, fatigue, speeding, night trips, and dangerous driving.
“These three landmark crashes include that of Niger State, which occurred on September 8, 2024, and killed 48 people; that of September 12, 2024, which killed 18 people in Sabon Wuse; and that of September 15, 2024, which happened in Kaduna State and led to the death of 25 people. These three crashes alone, which proved to have been obviously avoidable, claimed the lives of 91 people. This is alarming and it calls for concern.”
Mohammed ordered commanding officers to ensure round-the-clock enforcement of traffic laws.
He also disclosed that a special operation would be conducted to address the incessant accidents recorded across the country.
Mohammed said, “I am compelled to state that the spate of crashes recently recorded is, however, very disturbing, and every step must be taken to avert continued future occurrences. It is against this backdrop that I have directed Commanding Officers to ensure round-the-clock enforcement of traffic offenses to mitigate these excesses. A special patrol operation will be instituted, and enforcement will be carried out nationwide.”
Nation
Jubilation As Rivers Community Gets New Paramount Ruler
There was jubilation in Kpean community in Khana Local Government Area of Rivers State following the installation of Engr Lucky Ewoh as the new paramount ruler of the community.
Sources from the community had it that Lucky who is from the Gbene-Ewoh royal family of Kpean succeeded Chief Nwineh Bariyiramue who was allegedly deposed by the community.
Speaking in an interview with newsmen during the installation ceremony, former chairman of the governing council of Kpean community Prof Patrick Nwinyokpugi said the people are happy over the emergence of Engr. Lucky Gbene-Ewoh as their new paramount ruler.
Prof. Nwinyokpugi said this can be seen from the massive turnout of both men and women for the installation as well as the celebration across the community.
He alleged that the former paramount ruler was deposed following his inability to restore peace to Kpean as well as check the incessant cult killings in the community.
“Some years ago, we got a judgment in favour of the deposed chief, but four years down the line, lots of atrocities have happened. Just last month a young boy was murdered and his head severed off his body, heart and private part taken away and the matter was not reported to the police by the deposed chief”, he said.
Prof. Nwinyokpugi said the community has confidence that the new chief will not derail and describe it as a new dawn in the community.
Also speaking, the youth leader of Kpean Community, Comrade Lemii D. Petaba said the installation of Chief Lucky Ewoh at the community sacred square , shows its acceptability not only by the people by also by the gods of the land.
According to him, “today the Gene-Ewoh royal family is introducing a new paramount ruler to us and the people are happy”
He said the occasion was to officially install him and to do the traditional rights that follows.
Speaking later with newsmen, the new paramount ruler, Chief Lucky Gbene-Ewoh thanked his people for the confidence reposed on him, promising not to fail them.
He also pledged to ensure the returns of peace to the community.
Meanwhile, efforts made to reach the alleged former paramount ruler proved abortive as neither his phone contact nor his residential address in Portharcourt could be reached.
Nation
Kano Dissolves 44 LG Caretaker Excos
The Kano State Governor, Abba Yusuf, has dissolved the caretaker chairmen of all the 44 Local Government Areas in the State.
The governor announced the dissolution at a special meeting held at the Government House, Kano, on Wednesday.
This was disclosed in a statement by the Governor’s spokesperson, Sanusi Bature.
This comes a week after the state House of Assembly approved a two-month extension for the caretaker chairmen, as their tenure expired on September 8, 2024.
The extension, slated to run from September 9 to November 9, 2024, was to ensure continuity in local governance.
The governor, however, dissolved the council, as the council election had been slated for October 26, 2024.
“With local government elections scheduled for October 26, 2024, Governor Abba Yusuf has directed the caretaker chairmen to hand over leadership of the councils to their respective Directors of Personnel Management.
“This dissolution applies to all chairmen, vice chairmen, secretaries, and councillors,” the statement read.
The governor thanked the caretaker chairmen for their contributions to the development of their areas and hinted at potential future collaborations.
However, he warned the DPMs against political interference and asked them to discharge their duties as required by law.
“We are warning the DPMs to make sure they do not interfere in any political activities as respected civil servants but to discharge their duties as required by the law.
“I have directed the anti-corruption commission to arrange a seminar for them to enhance their capacity,” the governor said.
The caretaker chairmen also thanked the governor for the opportunity to serve their communities.
-
News3 days ago
UK Plans To Reuse Old Graves, Reopen Full Graveyards
-
News3 days ago
Oct 5 LG Polls Sacrosanct, Fubara Declares
-
Politics3 days ago
Rivers Youth Leader Carpets APC Over Hardship, Insecurity In Nigeria
-
Opinion3 days ago
Adult Delinquency In Public Space
-
News3 days ago
EFCC Arrests 33 Suspected Internet Fraudsters In PH
-
News3 days ago
Osoba Urges More Investment In Investigative Journalism
-
Politics3 days ago
Constitution Review: Atiku Proposes Rotational Presidency
-
Agriculture3 days ago
Beans, Egg, Bread, Others Defy Price Reduction As Tomatoes, Yam Prices Reduce