Politics
RVHA Approves Bond Guarantee For Power Firm
Rivers State House of Assembly has unanimously approved through
a resolution request by Governor Chibuike Rotimi Amaechi, for the issuance of
Guarantee for the Acquisition of Power
Distribution Company by 4-Power Consortium Limited.
A correspondence from the state Governor dated October 8,
2012, to the House said “the resolution requested will enable the state support
the completion of acquisition of the Port Harcourt District Company currently
being privatized by the Bureau for Public Enterprises (BPE).”
After robust debate Wednesday, on the issue, the Speaker Rt.
Hon. Otelemaba Amachree, said the House hereby authorizes Guaranty Trust Bank
Plc to issue bonds and guarantees on behalf of 4-power Consortium Limited, in
form of the Bureau of Public Enterprises or any other beneficiary as may be
requested by the company utilizing the bond and guarantee to the state by the
bank.
The Tide learnt that the resolution implies irreversibly and
unconditionally agreeing to indemnify the bank in full on demand against all
loses, costs and expenses that may be suffered or incurred by the bank arising
from and in connection with the issuance of the bond.
Opening debate on the request, the whip of the House Hon.
Ikuniyi Ibani, said granting the request of the governor would give the state
opportunity to participate in the distribution of power generated from its
independent power project (IPP), and urged the lawmakers to support the
governor’s effort.
Hon. Augustine Ngo, representing Abua/Odual, argued that
Power Holding Company (PHCN) lacked enough facilities to accommodate power
generated by the state and described the unbundling of the company as a welcome
development since the move would increase power supply to the homes of Rivers
people.
The lawmaker opined that availability of electricity supply
will aid development because small and medium scale enterprises would be
encouraged as well as other investors that would create employment for the
youths.
Politics
Tinubu Flags Off 2027 Re-election Campaign In Kaduna
The campaign rally, held at the Kaduna Township Stadium, attracted Vice-President Kashim Shettima, APC governors, party leaders, federal and state lawmakers, political stakeholders and supporters from across the country.
The flag-off marks the beginning of the APC’s drive to secure a second presidential term for President Tinubu, with the party expected to promote its achievements, defend its economic reforms and outline its policy priorities under the proposed Renewed Hope 2.0 agenda.
Kaduna’s selection for the campaign launch underscores the strategic importance of the North-West, a region with a substantial voting population and considerable influence on presidential election outcomes.
The APC faces a significant challenge in Kaduna, where the Peoples Democratic Party’s presidential candidate, Alhaji Atiku Abubakar, defeated President Tinubu in the 2023 election. The rally therefore provides the ruling party an opportunity to strengthen its grassroots structures and regain electoral support in the state.
Addressing supporters, Vice-President Shettima appealed to Northern voters, highlighting President Tinubu’s political relationships with prominent Northern leaders, including Alhaji Abubakar, Mallam Nuhu Ribadu and the late President Muhammadu Buhari.
The Vice-President’s appeal reflects the APC’s determination to consolidate its support in the North as the party intensifies preparations for the presidential contest.
The Renewed Hope 2.0 agenda is expected to feature prominently in the campaign, providing a platform for President Tinubu to explain his administration’s economic policies and outline plans for another term.
However, the President’s record on economic reforms, rising living costs, petrol prices, employment, infrastructure and insecurity is expected to attract considerable scrutiny during the electioneering period.
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