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PMB’s Power Sector Reform: A Win-Win For Nigeria, Nigerians

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By Musa Ilallah

From his first day in office in May 2015, President Muhammadu Buhari had expressed his willingness and desire to improve the fortunes of Nigeria and Nigerians by, among other things, improving electricity supply to every nook and cranny of the country. He was determined, he said, to leave a legacy by the time he leaves office after his first term in office in 2019. It was not just a pledge but a commitment that would stand the test of time.

With a view to realising his vision for 24/7 power supply in the country, President Buhari has inaugurated a Presidential Power Initiative project, PPI for the country.

In very clear and unambiguous terms, the new Presidential Power Initiative is a power infrastructure upgrade and modernization programme agreed to by the Nigerian Government and Siemens AG of Germany, with the support of the German Government.

Under the PPI, the Nigerian Government will, on behalf of the other shareholders in the electricity distribution companies, invest in infrastructure upgrades in the form of improved payment systems, distribution substations, transformers, protection devices, smart meters and transmission lines, among others.

The ultimate goal of the PPI is to modernize and increase the Nigerian electricity grid capacity from about 5 Giga Watts currently, to 25 Giga Watts, over three phases.

The funding for the PPI will be secured under concessionary terms of up to 3 years moratorium and 12 years repayment at concessionary interest rates through the German Euler Hermes cover, which the Nigerian Government will on-lend as a convertible loan to the other shareholders in the Distribution Companies and DISCOS. It also provides support for credit insurers.

President Muhammadu Buhari has approved the release of funding for the first part of Phase 1 of the PPI, to kick off the pre-engineering and concession financing workstreams.

To ensure fairness and transparency of the intervention, the President has further directed that the Nigerian Government engages the International Finance Corporation (IFC) to assist in developing the commercial structure of the intervention under the Presidential Power Initiative, as well as in undertaking an independent company valuation of the DisCos.

It is on record that President Buhari in his attempt to ensure value for money and preserve the integrity & transparency of the procurement process, in line with Government to Government framework, Siemens AG shall be solely responsible for nominating its EPC partners to perform all onshore works, thus cutting off middlemen who are perceived as parasites and ‘strategists’ of corrupt practices by public officers.

The PPI journey started in August , 2018, when Chancellor Angela Merkel of Germany came to Nigeria on a state visit and had fruitful discussions with President Muhammadu Buhari.

Chancellor Mikel’s entourage during the visit included a business delegation that included Mr Joe Kaeser, the Global CEO of Siemens. He pleged to personally oversee the implementation of the Nigeria Electrification roadmap/PPI as a landmark project for Nigeria and Africa.

Total cost of the project which covers some states of the Federation of will be N1.15trillion.

One can vividly recall from media reports that at the meeting, Nigeria and Germany agreed to explore cooperation in a number of areas, including Power.

Just recently, after a laborious, thorough and painstaking process, President Muhammadu Buhari approved the release of funding for the first part of Phase 1 of the PPI to kick-start the pre-engineering and concession financing workstreams.
In line with his vision, transparency and accountability, President Buhari said of the project “Our goal is simply to deliver electricity to Nigerian businesses and homes. Our intention is to ensure that our cooperation is structured under a Government to Government framework. No middlemen will be involved in the deal so that we can achieve value for money for Nigerians.”

The President had also directed that the Nigerian Government engage the International Finance Corporation (IFC) to assist in developing the commercial structure of the intervention under the Presidential Power Initiative as well as in undertaking an independent company valuation of the distribution companies popularly called DisCos.

What can be more transparent than this.

The third force of engaging middlemen to loot public funds has been completely cut off from this power sector negoatiation, financing and execution.

All DisCos have directly, and through the BPE, been diligently carried along over the last 15 months to understand in detail the challenges in the electricity systems.

All items to be purchased were provided by the DisCos and Transmission Company of Nigeria (TCN) and will be vetted by a professional Project Management Office.

According to details of the intervention, funding for the PPI will be secured under concessionary terms of up to 3 years moratorium and 12 years repayment at concessionary interest rates through the German Euler Hermes cover, the Nigerian Government will on-lend as a convertible loan to the other shareholders in the DisCos.

It is expected that the Presidential Power Initiative will, among other things,
deliver improved power supply nationwide, with attendant results in job creation, investor confidence, cost and ease of doing business and economic growth. It will also provide training & capacity building for thousands of young non-graduates, students and university graduates.

Furthermore, PPI will create economic opportunities for Nigerian engineering companies that will serve as local vendors for the provision of manpower and equipment, in addition to stimulating and encouraging inflow of additional investments into the power sector.

Initial development work on the foundational ‘Roadmap’ document known as the Nigeria Electrification
Roadmap was jointly done by Siemens and the Nigerian Government. Signing of the Implementation Agreement for the Roadmap took place in July last year while the Agreement was signed by Siemens and by the Bureau for Public Enterprises, BPE on behalf of the Nigerian Government, and witnessed by shareholders and management of the DisCos.

In line with the PPI schedule, the intervention will be implemented in three phases as resolving 2,000MW of transmission and distribution constraints and increasing the operational capacity of the grid to 7,000MW as phase 1; increasing operational grid capacity by an additional 4,000MW, to 11,000MW as phase 11 and achieving total operational generation and grid capacity of 25,000MW subsequently as phase 111.

Under phases 1 and 11, Siemens will be working to upgrade assets belonging to the Transmission Company of
Nigeria (TCN) and the 11 Power distribution companies, DisCos.

Phase 1 of the PPI comprises several individual brownfield and greenfield transmission and distribution upgrade and expansion projects that will be executed by Siemens and other project partners. These include Transmission projects through supply and installation of transmission substations, transformers and overhead transmission lines; distribution projects through upgrade/expansion of existing substations.

Others are supply and installation of power distribution products and systems, installation and commissioning of mobile substations and power distribution lines; power system simulation and studies of software licences and associated services for TCN and DisCos, including training and technical services for TCN and DisCos; control & protection through supply of control and protection devices for TCN and DisCos; meter data management systems; extensive technical training.

Also listed on the front burner of the PMB administraion towards improving its electrification project of the country is the Mambilla Hydroelectric Power Station, with a capacity for providing 3,050 MW of power into the national grid when fully on stream.

When completed, it will be the largest power-generating installation in the country, and one of the largest hydroelectric power stations in Africa. its construction will cost the Nigerian government $5.8 billion and is located at Kakara Village, Taraba State.

Due to the power challenges in the country, many individuals, households and organizations have resorted to fossil-fuelled generators. Nigerians spend an estimated $14 billion a year on small-scale generators.

Nigeria’s electricity system is saddled with a huge gap between the cost of generating electricity and the tariffs it receives. This gap was estimated at $2.4 billion in 2015-17. The tariff gap, says the IMF, can be closed by reducing the cost of generating and distributing electricity, and through increasing the tariff by at least 50%.

The huge gap between the tariff and operating costs has meant that Nigeria’s privatization of its electricity sector has not delivered improvements in the availability of reliable electricity. This is in part because the electricity distribution companies inherited a derelict infrastructure from the Nigerian government through the National Electric Power Authority (NEPA), which was unbundled in 2005 and privatized in 2013 by the PDP-led federal government.

The strong belief of most Nigerians is that this very strategic move initiated by the President would go a long way in squarely addressing the power challenges facing Nigerians. We are confident that Nigeria will get it right this time around because President Buhari is determined to make the difference.

Musa, a public affairs analyst sent this piece from Abuja, emaij address: musahk123@yahoo.com

PANDEF Welcomes Reconstitution Of NNPC Board With Cautious Considerations

The Pan Niger Delta Forum, PANDEF, has welcome the reconstitution of the Board of the Nigerian National Petroleum Corporation, NNPC, by President Muhammadu Buhari with cautious considerations. They describe the move by Mr. President c be considered mere scratching of the surface of the problem.

In a press release signed by the National Publicity Secretary, Pan Niger Delta Forum, PANDEF, Hon. Ken Robinson, he said that the major concern of the Niger Delta Region is the skewed composition of the Executive management of the NNPC, and appointment of Chief Executives of the Corporation’s Subsidiaries. It is simply abhorrent that the Group Managing Director, GMD, the Chief Finance Officer, Finance & Account, the Corporate Secretary/Legal Adviser to the Corporation, and Chief Executives of virtually all strategic divisions and subsidiaries of the NNPC are persons from the Northern zones of the country.

The statement read, “We would, therefore, urge Mr. President to further, carry out a holistic rejigging of the lopsided NNPC management structure, and correct the imbalances, in the interest of equity, fairness, peace and national cohesion.

“It is significant to recall that the position of Group Managing Director of the NNPC was traditionally and rightly, reserved for persons from the South South Geopolitical zone, which produces about 95% of the nation’s crude extraction. It won’t be out of place, therefore, to ask for the restoration of that tradition.

“PANDEF however notes that the latest NNPC Board composition as announced by the presidency, shows a departure from the 2016 Board arrangement, which had no representation from the South-East zone, an oil producing zone, and to that extent, therefore, commendable.

“PANDEF further implores those, particularly from the Niger Delta Region, newly appointed to the Board of the NNPC, to shun partisan and miniature interests in the discharge of their duties and responsibilities.

NNPC Board; Ogwilaya Sunny Congratulates Sen. Magnus Abe

A chieftain of the All Progressives Congress, Delta State, and one-time Delta South Senatorial Candidate, Ogwilaya Sunny has congratulated Distinguished Senator Magnus Abe on his meritorious appointment as, Member representing South South on the Board of Nigerian National Petroleum Corporation (NNPC).

In a goodwill message, Ogwilaya Sunny describes Sen. Magnus Abe as a critical and committed stakeholder in the struggle, a dogged defender of democracy and a true leader championing the progressives agenda of the APC led Government.

He expressed his gratitude to President Muhammadu Buhari for finding Sen. Magnus Abe worthy of this appointment.

The statement also prayed God to grant him abundance of wisdom needed in repositioning the NNPC for the goodness of our dear nation.

Pantami Delighted Over ICT’s 14.07% Contribution To Nigeria’s GDP

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The Honourable Minister of Communications and Digital Economy, Dr Isa Ali Ibrahim Pantami, has expressed his delightment on the growth of ICT’s contribution to Nigeria’s GDP in the first quarter of 2020 (Q1 2020). It will be recalled that the National Bureau of Statistics (NBS) released ‘Nigeria’s Gross Domestic Product Report’ for Q1 2020 on the 25th of May, 2020.

In a press release signed by the Technical Assistant (Information Technology) to the Honourable Minister of Communications and Digital Economy, Dr Femi Adeluyi, he said that the Report observed that the country’s GDP grew by 1.87% (year-on-year) in real terms in Q1 2020. The non-oil sector contributed 90.50% to the nation’s GDP in Q1 2020 as opposed to the 9.50% contributed to total real GDP by the oil sector.

It is noteworthy that the ICT sector contributed 14.07% to the total real GDP in Q1 2020, higher than its contribution a year earlier (13.32%) and in the preceding quarter, in which it accounted for 13.12%.

The Honorable Minister notes that the growing contribution of the ICT sector to the GDP is a direct result of the focused and committed effort of the administration of President Muhammadu Buhari.

The strategic policy directions of the Federal Government include the inclusion of Digital Economy in the mandate of the Ministry, the unveiling and implementation of the National Digital Economy Policy and Strategy and the National Broadband Plan, amongst others.

The COVID-19 pandemic has shown how critical the ICT sector is to the growth of our country’s digital economy and, by extension, the general economy.

The Honourable Minister calls on all sectors to take advantage of the Federal Government’s new focus on the digital economy to enable and improve their processes through the use of ICTs. This would enhance the output of all the sectors of the economy and boost Nigeria’s GDP.

5 years of Umahi: Creation Of A Modern, Industrialized & Sophisticated Ebonyi State

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By Monica Chidinma AdaEze,

… Lists his outstanding feats that mark him best governor of current dispensation.

PREAMBLE & HISTORY OF EBONYI STATE:

Ebonyi State is one of the six new states in Nigeria created in 1996 by the administration of Late General Sani Abacha from the old Abakaliki division of Enugu State and old Afikpo division of Abia State with 13 Local Government Areas.

The State has three senatorial zones, the Abakaliki division make up Ebonyi North and Ebonyi Central senetorial zones, while the Afikpo division make up Ebonyi South senetorial zone. The thirteen local government areas (LGAs) that make up the State are namely: (1) Abakaliki (Capital), (2) Afikpo North (3) Afikpo South, (4) Ebonyi, (5) Ezza North, (6) Ezza South, (7) Ikwo, (8) Ishielu, (9) Ivo, (10) Izzi, (11) Ohaozara, (12) Ohaukwu and (13) Onicha.

The state is home to six prominent higher institutions of learning: Ebonyi State University, Abakaliki (EBSU);
Alex Ekwueme Federal University Ndufu Alike Ikwo ; Akanu Ibiam Federal Polytechnic, Unwana; Federal College of Agriculture, Ishiagu; Ebonyi State College of Education Ikwo (EBSCOEI) and College of Health Sciences, Ezzamgbo.

Walter Feghabo is the first Military Administrator of the State who took over the State on 7 October 1996 and left on August 1998 while Simeon Oduoye succeeded him on August 1998 but left on May 1999.

In 29 May 1999, Dr. Sam Ominyi Egwu was sworn in as the first democratically elected governor of the state under the People’s Democratic Party (PDP). He was succeeded by Martin Elechi who was elected in 2007 and successfully ran for re-election in 2011, under the same PDP. Gov Martin Elechi was succeeded by the current Governor, Dave Umahi, who was elected in the March 2015 election and re-elected in March 2019 for a second term.

The State is better known as the Salt of the Nation with the following presiding over her affairs from 1996 till date:

EBONYI BEFORE THE COMING OF UMAHI:

The fact remains that EBONYI State before the coming of the administration of Apostle David Nweze Umahi (FNATE, FNSE), the Governor of Ebonyi State, the Lion of South East and Chairman of South East Governors’ Forum was not only home to Guinea worm disease but one of the most undeveloped States in Nigeria. The State capital, Abakaliki was more of a glorified Local Government Headquarters with all basic amenities acceptable in a State capital lacking. The Government House then was nothing to write home about while most of the roads were all dilapidated with public water system as a luxury only known to the rich within the State. Most of the Ministries operates from rented houses even after over 20 years of the creation of the State.

Onu Joseph Eze writing from Lagos in an article which he titled, “REMARKABLE THINGS GOV. DAVID UMAHI HAS BROUGHT TO BEAR IN EBONYI STATE” stated, “Abakaliki as a state capital used to be a village square where outsiders mistook for one of those fledgling hamlets with the potentiality of becoming a satellite unit in the nearest future. But today under Umahi, Abakaliki is fast rising to the status of a sought after state capital in Nigeria with robust nightlife and invigorating sights of rendezvous. Abakaliki can now be referred to as a state capital with superlative potentials for trade and commerce, tourism and sociocultural education.”

UMAHI AND HIS MAGIC WAND AND THE TURNING AROUND OF THE FORTUNES OF EBONYI STATE

According to Lady Monica Eze, Ebonyi State in the eyes of the world was a State infested and known for the menace of the deadly Guinea-worms and water borne diseases with a Local Government Secretariat as its Government House but the coming of Governor Umahi has changed the narrative.

“Those who have visited Ebonyi State before the coming of this Infrastructural Bulldozer cannot know the State if they visit the State now as the changes in the State is even more visible to the blind. Apart from the approval of the request by the administration of Governor Dave Nweze Umahi of Ebonyi State to construct an International Airport by the Federal Government at a time when the only International Airport in the South-East, Akanu Ibiam International Airport, Enugu, had been shut down by the Federal Government for repairs, is a thing of pride to all and sundry.

It is on record that Governor Umahi is the first Governor from Ebonyi State to embark upon construction of over five gigantic flyovers in the State and completed them. To make the State a truly modern State, Governor Umahi has started the construction of the first Olympiad size Stadium in the entire South East zone of the nation.

The State Government recently got a loan to embark upon the gigantic and audacious Ebonyi Ring Road that link almost all the Local Government Headquarters of the State.

Today, Ebonyi State can proudly boast of having one of the best Government Houses in Nigeria.

The Ecumenical Centre initiated and completed by Umahi’s administration stands out as one of the best places of worship in the entire West African countries.

The best motor park in the entire Nigeria is under construction in the State capital coupled with the electrification of all the Local Government Headquarters of the State including major towns in the State.

All major roads to major towns and Local Government Headquarters are currently under construction.

The Water-Scheme in the State is being developed to supply water to all areas of the State coupled with all other major developments that have placed the State as the most developing economy in Nigeria.

Dr. Umahi scored another first amongst all the Governors that have governed Ebonyi State to become the South-South Vice-Chairman of the Governors’ Forum and Head the South East Governors Forum.

Lady Monica Eze AKA Ada Ebonyi stated that if what makes a State modern are the provisions of quality and drinkable water scheme, good roads, electricity, quality infrastructural facilities then one can conclude without fear of contradiction that with all that Gov. Umahi has achieved within the span of five years, he is the Creator of modern Ebonyi State.

REACTIONS ON THE FEATS OF GOVERNOR UMAHI:

Reacting to some of the great feats of Governor Umahi within this past five years, Lady Comfort Obi, the Publisher of the Source Magazine and a very powerful Pen Pusher in Nigeria highlighted in one of her treatises, “In fairness to Umahi, he has so far, done well as Ebonyi Governor. He has encouraged Agriculture, especially, in the area of rice production. Ebonyi rice ranks amongst the best in the country. I don’t know much about what he did in the area of yam production, but I proudly ask for Abakailiki yams from my yam customer. But where Umahi has definitely excelled most is in the provision of Physical Infrastructure, especially roads. Aside from Anambra State where Peter Obi excelled in the construction of roads, no other governor in the south east compares to Umahi in that area. Gradually, Umahi has bequeathed Ebonyi with quality roads. Umahi has also excelled in the area of education, granting scholarships to hundreds of Ebonyians in relevant areas of study. Thanks to him, Abakailiki, which, as the state capital looked worse than a local government headquarters, has had a complete turn- around. It looks bam”

RECENT ACTIONS OF EBONYI GOVERNMENT

It is on record that Ebonyi State is the only State in Nigeria that has innitiated the distribution of palliatives to her people within and outside the State particularly, her indigenes that reside in Lagos, Anambra, Rivers, Imo andAbia States including Abuja the FCT while providing over 90,000 facemasks and sanitisers for her people to ease the burden associated with COVID-19 pandemic.

In this regard, the Ebonyi State Commissioner for information, Hon. Barr. Orji Uchenna Orji in his recent statement highlighted, “Government has commenced the distribution of COVID-19 palliatives to the benefitting groups in the state, including Ebonyians in Abuja and Lagos. Polling unit compilation of list of beneficiaries of the palliatives across the state was comprehensively rounded- up without any political consideration, and distribution shall soon commence at the various polling units”.

He went further to state that the Ebonyi Executive Council has approved the release of the sum of Eighty Million Naira (N80, 000,000.00) for the renovation and equipment of Erinwobvu General Hospital which has been selected to serve as COVID-19 Treatment Centre, and further set up a committee to ensure that the project is completed within 10 days.

The Ebonyi Executive Council under the watch of Umahi has approved the naming of the following public facilities after prominent individuals with effect from June 2020:
• Centenary City to be known as Ocho Udo City
• Ezzamgbo flyover to be known as Sen. Sam O.Egwu Flyover
• Nkalagu flyover to be known as Chief Cletus Ibeto Flyover
“Functional Primary Health Centres (PHC) are available across State, catering for the healthcare needs of rural dwellers and providing training and jobs for healthcare givers, nurses, and midwives.

The governor had created huge industrial clusters in the three senatorial zones of the State located strategically with proximity to raw materials and markets. The industrial clusters has the capacity of creating over 200,000 jobs for Ebonyi people and others and reduce the brain drain that the State had suffered over time.

WHAT UMAHI THROUGH HIS MATURED AND ADVANCED POLITICS ATTRACTED THE FOLLOWING FEDERAL GOVERNMENT PROJECTS TO THE STATE;

1. Federal college of Education in Ebonyi state.

2 Federal technical college in Ebonyi state.

3. National park” for Southeast, and it is to be cited in Ebonyi state.

4. Federal housing units of 5000 houses for Ebonyi state in Uburu.

5. The independent solar power at AE-Funai

Today, Ebonyi State is home to a Federal Teaching Hospital, a Regional Virology Centre, and a state-of-art Ebonyi State University Teaching Hospital (EBSUTH) approaching completion.

FURTHER EFFORTS TOWARDS THE MODERNISATION OF EBONYI STATE BY UMAHI:

Lady Monica Chidinma Ada Eze, President and Founder of one of the most popular, vibrant and focused Non-Governmental Organisations operating in Ebonyi State, the David Umahi Nweze Akubaraoha Ebonyi Transformation Agenda (DUNAETA) postulated in one of her numerous statements that Apostle Dave Nweze Umahi is the creator of the new EBONYI State.

Lady Chidinma Ada Eze who also doubles as the Technical Adviser on Media to Governor Umahi highlighted the following as areas in which Governor Umahi embarked upon in his dream to create the EBONYI he has envisioned and envisaged for our people.

I am proud to state that today, due to the foresight of this visionary leader of our time, Ebonyi State is the only State in the entire south- south and East that has a virology centre, where the blood samples of the dreaded COVID- 19 victims are tested and possibly treated in these two regions. It is a fact that the results of those that tested positive in Imo and Abia including Bayelsa States were all done at Abakaliki.

Not satisfied with all his giant strides in Ebonyi State, the innovative and wonder working Governor has concluded arrangements to construct an ultra- mordern and state of the art Hospital Complex at Alex Ekwueme which shall be a Centre of Excellence for the treatment of positive cases of Corona virus and related viruses.

Gov. Umahi is a magician and your visit to Ebonyi will convince you.

CONCLUSION

With all these feats, I can happily and proudly state that Governor Umahi is the David of Ebonyi, the wisest Governor In Nigeria according to Governor Ikepazu of Abia State, this Zik Awardee for Leadership for higher position in Nigeria has demonstrated his commitment to make EBONYI State one of the fastest growing economies in Nigeria today.

This period has showcased Umahi as the peoples leader as his remarkable feats within the past five years in areas of healthcare, education, security, agriculture, maintaince and dualisation of Federal Roads particularly, the Abakaliki to Enugu and Abakaliki to Afikpo Express Roads, Construction of the Biggest State Shopping Mall in Nigeria, prompt payment of salaries to civil servants and pension to pensioners, infrastructural revolution which was showcased during the 100 Days magical days in which most State Governors in Nigeria were expected to present their scorecards to the public. “Ebonyi is truly blessed with an enigma and innovative leader as her Governor that one can easily postulate that the modernization of Ebonyi State has been achieved in our life time through Apostle Dr. David Nweze Umahi.

I can now understand why one of the prominent sons of South East, Chief Arthur Eze once advised President Muhammad Buhari, ” to look no further than the Ebonyi State Governor for a Nigerian President of the Igbo extraction- if, and when the time comes.

Apostle Dave Nweze Umahi, the wisest Governor in Nigeria has come of age and it is time for Nigeria to move forward with him.

All these feats to make Ebonyi State one of the most developed States in Nigeria, are the initiatives of Apostle Umahi, divinely inspired to take the state to that highly anticipated enviable height.

Monica Ada Chidinma Eze, Aka Ada Ebonyi, President DUNAETA & TA on Media to Gov Umahi and can be reached through: dunaebonyitransformation001@gmail.com, monaquin007@gmail.com

AFDB: Nigeria’s MAGA Group Writes President Trump

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Friends of Trump in Nigeria seek US President’s intervention on the current face off between the US Treasury Secretary and the President, African Development Bank (AFDB)

Friends of President Donald Trump in Nigeria named ‘MAGA Group’ has written a strongly worded letter to President Donald Trump describing in detail how the recent position of the US Secretary of State ,Robert Munichin is damaging American interest across Africa at a time of Chinese inisistent resurgence on the continent. The letter noted that the current American position calling for further probe of the AFDB President amounts to Washington shooting itself in the foot as the crisis is painting America in bad light among a cross section of Africans from South to North and from West to East.

The letter signed by three leaders of the group , Dr Robert John, Chief Arowosaye Enitan, and Abdulahi Usman reads in part: ” It is with deep anxiety and shock that we write to seek Mr President’s intervention on the seeming lingering dispute over the leadership of the African Development Bank. We are not by any means disputing the rights of the United States government to have a say as to how the bank is run and managed . We also acknowledge the correctness of US policy of enforcing good governance and accountability in the management of multilateral institutions. This is even more critical as the US is a major shareholder in the bank.

“We however wish to note that in the current face off over AFDB probe of Dr Adesina, the United States is picking a wrong target. Mr President may want to know that the AFDB President is a western American trained scholar with years of international service before assuming the AFDB presidency. His tenure is not in anyway anti-West and if anything he has advanced the course of African development in a way that reduces the old burden on Washington. The philosophy of regions taking serious charge of their lives while America rebuilds is perfectly in line with Mr President’s outlook.

“Mr President should also note that the bank has its rules and regulations which were complied with by the Ethics committee and the Board of Governors in their exoneration of Dr Adesina of spurious charged levelled against him. To insist on bypassing the rules has the potential to hurt American goodwill and undermine its leverage in the ongoing geo-political and geo-economic warfare. Washington cannot afford to be fighting her friends across Africa who have unanimously endorsed Adesina as the best of Africa since assuming the presidency of AFDB.

” It should also be emphasised that Adesina’s records of performance in the last four years has been unprecedented. He increased the capitalisation of the bank and ensured that funds are channeled to genuine intractable challenges facing the continent. Whatever grouse anybody within your administration may have against Adesina, it will be too heavy a price to pay if the goal is to deny him a second term in office.

“The consequences may be too damaging to contain in term of American reputation on the continent. We urge you to direct the Treasury Secretary to engage Dr Adesina and dialogue on how to continue to accommodate American interest as a major shareholder. Washington will achieve a lot through such productive engagement than attempting to pull down the house”, the group concluded in the letter.

Chairman North Central Governors Forum Receivees With Shock News Of The Death Of Former NNPC GMD, Dr. Baru

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Chairman North Central Governors Forum and Governor of Niger State, Alhaji Abubakar Sani Bello has received with rude shock the passing away of immediate past Group Managing Director (GMD) of Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Kachalla Baru.

Governor Sani Bello said that the demise of late Baru was coming at a time where his expertise, experience and professionalism was still needed especially in the downstream sector of the country.

He said that the state will dearly miss his services especially the state-owned university, Ibrahim Badamasi Babangida University (IBBU), Lapai as he gave all the support through the institution in the ongoing exploration of the possible availability of hydrocarbon in the Bida Basin.

The Governor commiserated with his family Government and people of Bauchi State, and all his close associate and friends.

He described the former NNPC GMD as gentle, pious and religious person who was transparent in his actions during his lifetime.

Late Dr. Baru, who died at the age of 60, was bestowed with a fellowship award of the IBB University Lapai in 2018 and served as NNPC GMD from 2016 to 2019.

The Governor prayed that the Almighty Allah forgives his shortcomings, grant him paradise and give his family the fortitude to bear the irreparable loss.

Buhari Reconstitutes NNPC Board

President Muhammadu Buhari has approved the reconstitution of the Board of the Nigerian National Petroleum Corporation (NNPC).

The term of the board members appointed in 2016 had expired.

According to a statement by Special Adviser to the President (Media and Publicity), Femi Adesina, members of the new board are: Mohammed Lawal (North West), Tajudeen Umar (North East), and Adamu Mahmood Attah (North Central).

Others are Senator Magnus Abe (South South), Dr Stephen Dike (South East), and Chief Pius Akinyelure (South West).

Adesina added that the new board will be in place for three years.

Former NNPC Group GMD, Baru, Is Dead

The Nigerian National Petroleum Corporation (NNPC) has announced the demise of its former Group Managing Director (GMD), Dr. Maikanti Kacalla Baru, Friday night.

Dr. Baru, a consummate Mechanical Engineer, died after a brief illness, NNPC Group General Manager, Group Public Affairs, Dr. Kennie Obateru stated this in a release on Saturday.

The release said NNPC Group Managing Director, Mallam Mele Kyari expressed shock over the sudden death of Dr. Baru who was the 18th Group Managing Director of the Corporation.

Mallam Mele Kyari described him as a man ‘of exemplary character and disposition.’

Dr. Baru, 60, who was at the helm of the Corporation from July 4th 2016 to July 7th 2019 died after a brief illness in an Abuja hospital.

Only FIRS Can Collect Stamp Duty – Muhammad Nami

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“Any electronic receipt for, or electronic transfer of, money deposited with any bank or with any banker in any type of account of an amount from N10,000 upwards shall attract a singular or one-off duty of the sum of N50.” –FIRS

Nigerians will now pay stamp duties on all forms of electronic notifications acknowledging receipts of funds.

This includes SMS and messages on any electronic platform such as emails and Whatsapp messages.

This is according to a circular that was signed by FIRS’ Executive Chairman, Muhammad Nami, as seen on the tax agency’s website. Part of the circular said:

“Any electronic receipt for, or electronic transfer of, money deposited with any bank or with any banker in any type of account of an amount from N10,000 upwards shall attract a singular or one-off duty of the sum of N50.

“Stamp duty upon receipt (written, printed or in electronic form) for transactions between corporate bodies or between a corporate body and an individual, group or body of individuals, which amounts to N10,000 and above, shall be denoted by payment of N50 per receipt to the service.”

The FIRS circular also stated that stamp duties will be paid on “POS receipts, fiscalised device receipts, Automated Teller Machine (ATM) print-outs.”

The circular went further to categorically state that all receipts, either printed or electronically generated, or any form of electronic acknowledgement of money transactions, will attract the stamp duty of N50.

The agency also clarified that it is the only body authorised to collect such duties because “the Federal Inland Revenue Service is the only competent authority to impose, charge, and collect duties upon instruments specified in the schedule to this act if such instrument relates to matters executed between a company and an individual, group or body of individuals.”

The instruments subject to charge, as listed in the circular, include; fixed duty instruments such as Power of Attorney, Certificate of Attorney, Proxy forms, Appointment of receivers, Memorandum of Understanding, Joint Venture Agreements, Guarantors form, Ordinary agreements and Receipts; and Ad-valorem instruments such as Tenancy or lease agreements, legal mortgage or debentures, Sales agreements and Deed of assignments