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N10.6trn:FG Fires Back At Ezekwesili

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The Federal Government, yesterday, reacted angrily to
comments by the former Minister of Education, Dr. Obiageli Ezekwesili alleging
that the governments of Presidents Musa Yar’Adua and Goodluck Jonathan,
squandered $67 billion(about N10.6trn) in foreign reserves, describing the
allegation as “outlandish and clearly fictitious.”

Minister of Information, Mr Labaran Maku who addressed a
press conference on the allegations by the former Vice President of African
Region of the World Bank said the damning verdict passed on the education
sector by Mrs Ezekwesili was a self indictment, as she presided over the sector
without bringing any positive impact on it.

The Information Minister who was flanked by the Senior
Special Assistant on Public Affairs, Dr. Doyin Okupe; Economic Adviser, Prof.
Nwanze Okedegbo and Special Adviser on Performance Monitoring, Prof. Sylvester
Monye; said the allegations of Ezekwesili were curious in the light of the fact
that she had been part of governance in the past.

According to Mr Maku, Ezekwesili’s criticism of the
education sector amounts to hypocrisy as she was part of the sector and
contributed to its sorry state, because , despite receiving N458.1billion
between 2006 and 2007 for the sector, there is nothing to show for it, in terms
of achievements.

The Minister said, “If she says education has not worked it
means she is saying she did not work”.

He accused the former Education minister of betraying a
surprisingly limited understanding of government finances in her comments at
Nsukka.

Information Minister, Mr. Labaran Maku flanked by the Senior
Special Assistant on Public Affairs to the President, Dr. Doyin Okupe and the
Special Adviser to the President, Projects Monitoring and Evaluation, Prof.
Sylvester Monye during the briefing on the nation’s external reserves at the
National Press Centre, Radio House, Abuja.

He noted: “These statements are even more curious in light
of the fact that she has held senior positions in government, and more
recently, a position as a Vice President of the World Bank. However, rather
than speculate about her motives, we would focus on the facts.

“The statement by the former World Bank Vice President that
the governments of Presidents Musa Yar’adua and Goodluck Jonathan have
squandered $67 billion in reserves (including $45 billion in external reserves
and $22 billion in the Excess Crude Account) left by the Obasanjo
Administration at the end of May 2007 is factually incorrect. At the end of May
2007, Nigeria’s gross reserves stood at $43.13 billion – comprising the CBN’s
external reserves of $31.5 billion, $9.43 billion in the Excess Crude Account,
and $2.18 billion in the Federal Government’s savings. These figures can be
independently verified from the CBN’s records. The figure of $67 billion
alleged in her statement is therefore clearly fictitious.

“However, since President Obasanjo left office, the reserves
have experienced fluctuations, rising from $43.13 billion in May 2007, peaking
at $62 billion in September 2008 during the Yar’adua/Jonathan Administration
when oil prices peaked at $147 per barrel, and falling subsequently to a low of
$31.7 in September 2011. This fall in reserves was a result of the vicissitudes
of the global financial crisis which caused CBN interventions in the currency
market to defend the value of the naira. The Excess Crude savings, a component
of the reserves, was also used to stimulate the economy at the height of the
global financial crisis to the tune of about $1 billion (or 0.5 percent of our
2009 GDP). As a result, Nigeria is one of the few countries in the world that
did not seek assistance from international financial institutions.

He said it should be noted that the fiscal stimulus used to
shore up the economy during that period was shared by all 3-tiers of
government, including commitments of about $5.5 billion made under the Obasanjo
Administration for power projects, he added.

She urged Nigerians, especially the youths, to take their
destiny in their hands by creating a new political context in which citizens
demand for good governance and accountability by compelling their leaders to be
accountable and transparent in the management of the commonwealth of Nigeria.

According to her, ‘endowment of oil resulted in an indulgent
elite class who have made disastrous choices that have trapped the destiny of
Nigeria in oil wells.

The former World Bank Vice President attributed the economic
stagnation in the country for over fifty years to such indulgence on the part
of the emerging ruling class.

‘The fact is that our political elite suffers from delusion
of greatness simply because we sell barrel of crude oil to finance 80% of our
national budget while over 95% of our foreign exchange ad petroleum sector
earning represents a larger portion of industry’s contribution to GDP”, she
lamented.

‘I have known, at least, five cycles of commodity booms that
offered us rare opportunities to use revenues generated from oil to transform
our economy. Sadly, each cycle ended up sliding us farther down the productive
ladder. The present cycle of boom of the 2010s is, however, much more vexing
that the other four that happened in the 70s, 80s 90s and 2000s, she added.

She challenged Nigerian university graduates and
undergraduates to mobilise themselves and work towards pushing public office
holders to prudently manage our national wealth and provide good stewardship
and leadership to the people.

It would be recalled that
the former World Bank Vice President, Dr Obiageli Ezekwesili had last Saturday
lashed out at successive federal government since 2007, accusing them of
squandering over $67billion oil windfall.

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Let’s Fight To Save Rivers’ Soul Together

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Rivers State Governor, Sir Siminalayi Fubara, has lamented that there is a fierce fight over the soul of the State to destroy it but noted that only the well-meaning persons who are standing firmly with him can wield the force of unity to save it.
Governor Fubara made the remark at the country home of Sir Celestine Omehia in Ubima community, Ikwerre Local Government Area of Rivers State on Saturday.
The Governor, accompanied by some elders of the State, was in Ubima to commiserate with Sir Omehia, who had just laid his late mother, Mrs Ezinne Cecilia Omehia, to rest after 95 years.
Governor Fubara said the visit was to demonstrate love and show support to Sir Omehia who, as a son, had satisfactorily performed the duty of giving his mother a befitting burial.
He said, “I have come here with a few of us; very respected elders of the State, to come and support you and say to you that ‘we sorrow with you’.
”The most important thing is to show our concern and love. Any human being that shows enmity to death, that person is not even normal.
”We also rejoice with you for a life lived well to fulfillment by Mama. We wish Mama safe journey. Let her stay well where she has gone.”
Governor Fubara told the elders of the need for every true lover of the State to synergise and be resolute in the fight to safeguard the soul of Rivers State.
The Governor decried the evil of politics of bitterness and the telling danger it has on the progress of the State, which according to him, should be discouraged as a bad political culture in contemporary times.
Governor Fubara said: “Anybody who claims to love this State should not be party to anything, directly or indirectly, that will bring us backwards. We will continue to support every course that will advance the interest of our dear Rivers State.
”And I am happy to say, and I’ve said it over and again, it doesn’t matter the number of people that are standing with me, I will stand on that side of truth.”
The Governor emphasised: “I will not, I repeat, I will not govern our dear State on my knees (bending). If that was the purpose, I will not do that. I will stand to govern our dear State and stand continually on the side of right.
”But politics of bitterness will not take us anywhere. So, I want to thank you that, at this stage, we have a few of you who understand that Rivers State belongs to everyone of us. We must, therefore, fight together to sustain the soul of this State,” he added.
Governor Fubara also spoke about the tanker inferno that has become a sad episode in the State with over 120 vehicles razed and about five lives lost, describing it as “great tragedy and very unfortunate.
”It is a very sad day in our dear State. Something happened in Eleme, along the route of Indorama Petrochemical and Fertiliser Company Limited. A tanker had an issue with a tipper, and there was an unfortunate situation that caused the State a very devastating loss.
”I went there this morning to see for myself what really happened, and I can tell you, I’ve not been happy since then. With all the dramas in our State, it is not even proper for us to add that to it.
”But it wasn’t our fault. It was just what impatience caused. The tanker driver, knowing the state of that road was not patient, and it resulted in that colossal loss. Over 120 vehicles were completely burnt and five lives were lost. It was very unfortunate.”
He commiserated with those who lost loved ones and others whose vehicles were burnt beyond repairs, and added that the State Government mourns and grieves with them.
In his speech, Sir Celestine Omehia, expressed appreciation, on behalf of his family, to Governor Fubara, his delegation and other friends, among whom, were those he described as matured elders, for the show of love.
He said his mother died at 95 years, which is 25 years of grace added to the 70 years as specified in the Bible, and assured that he will sustain her legacy because she was their role model.
Sir Omehia also said that he was well known as a man who takes decision and stands by it no matter the consequences.
He, therefore, declared: “I have taken a decision to be SIMplified. Where ever you go (Fubara), is where I will go. If you say tomorrow, you are no more interested in this position, I will also stop fighting for anything in Rivers State.
”But, God who gave you the opportunity will also give you all the wisdom, strength, power and everything that it takes to govern the people of Rivers State and beyond.”
He assured the Governor that almost the entire people of the State, including chiefs, elders, opinion leaders, women, youths, civil society groups and professionals across all spectrums of the State were praying and working assiduously for the success of his Administration.
Sir Omehia told the Governor that it is that support and prayers of the people that he needs to succeed, because, according to him, one with God, is with majority, and will always excel and succeed.
He, therefore, urged the Governor to continue in his strides to deliver good governance, peaceful and prosperous State to the present and future generations.
Highlights of the event were the offering of prayers by leaders of Ikwerre Supreme Council of Traditional Rulers for the Governor and his Administration as well as the symbolic presentation of gifts to Governor Fubara in appreciation of his peaceful disposition and quality leadership of the State.

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Tanker Inferno: We’re Saddened By Extent Of Carnage -Fubara

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Rivers State Governor, Sir Siminalayi Fubara, has described as very unfortunate the fire incident caused by a tanker conveying premium motor spirit (PMS), otherwise called petrol which burnt motorists and commuters beyond recognition and destroyed a good number of vehicles.
The incident occurred between Indorama Gate and Aleto Bridge on the popular and ever busy Eleme section of the East-West Road now undergoing major reconstruction by the Federal Government.
Governor Fubara expressed his sadness at the gory sights that he saw when he visited the scene of the incident, accompanied by the State Commissioner of Police, Olatunji Disu, and the State Commissioner for Energy and Natural Resources, Mr Uchechukwu Nwafor, on Saturday morning.
The Governor explained that he got a call from the Managing Director of Indorama Petrochemical and Fertiliser Company Limited in Eleme Local Government Area, informing him of the incident.
At the news of the incident, Governor Fubara stated that he immediate routed a call to the security agencies and instructed that they visit the scene to take charge of the security of the area to avoid escalation of the situation.
Governor Fubara said: “We are here to see for ourselves and get a first hand information of the incident of what happened yesterday night.
“About 7.30 – 8pm, we got information of the gravity of the incident. I was told that it was caused by a tanker vehicle that was conveying Premium Motor Spirit (PMS).
“In fact, I got the information through the MD of Indorama, and I immediately alerted the security agencies to make sure they take control of the security situation in the area.
“And from what we are seeing this morning, it was not a pleasant case. We recorded a huge number of vehicles being destroyed and lives lost.
Governor Fubara explained that he had already requested the relevant government agencies to provide him a detailed account of their findings to enable the State Government take appropriate decisions and actions to significantly remedy the situation and reduce the negative on the affected people.
“I have already asked the relevant agencies to give us a full brief so that we can come into the situation fully by seeing to how much we can support the families that are bereaved, and also cushion the effect of the loses, which I believe, is no fault of a good number of them.
“We all know the situation of this road. It is really unfortunate. Most of our people, when plying this road, should ply it with caution.
“I believe very strongly that this situation would have been avoidable, if the motorists had behaved properly. But it is late already. The damage has happened. This is the situation we have found ourselves. We will see how we can control the aftermath,” he added.

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82nd Birthday: Odu Eulogises King Dandeson Jaja

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Rivers State Deputy Governor Prof. Ngozi Nma Odu, has described King Dandeson Douglas Jaja as a great and humble King who has continued to be a light to the Kingdom of Opobo and Rivers State.
Prof Odu stated this during a thanksgiving service to mark the monarch’s 82nd birthday at St. Paul’s Anglican Church in Opobo Town, yesterday.
According to the Deputy Governor, on a special day like this, she wishes him God’s grace and innumerable blessings, stressing that his reign shall be long in good health.
In his testimony, King Dandeson Douglas Jaja, who disclosed that he is nothing without God, said his life has been God’s Gift and Grace all these years, stressing that it is the Grace of God that has brought him this far.
The king seized the moment to announce the conferment of the King Jaja Manila Tree Award, which is the highest honour in Opobo Kingdom to the State Chief Executive, Sir Siminalayi Fubara and the BALOLO of Opobo Award to Prof. Ngozi Nma Odu, the Deputy Governor on a date to be announced later.
In his Sermon, drawn from Psalm 122: 6,7,8, Ven. Emanuel Nwuju, the Vicar of St. Paul’s Anglican Church, Opobo Town, who spoke on the theme “Good Gifts Comes from God “said God has given us everything we enjoy in life, adding that whatever you are today is a gift from God.

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