Connect with us

Government

Nigeria Losing One Million Barrels of Oil Daily – Osinbajo

Published

on

Vice President Yemi Osinbajo

Vice-President Yemi Osinbajo says Nigeria has been losing one million barrels of crude oil daily in the last six months due to the activities of pipeline vandals.

Osinbajo, who is the head of President Muhammadu Buhari’s economic team, disclosed this on Tuesday while receiving a delegation of the Northern States Pentecostal Bishops Forum in his office at the Presidential Villa, Abuja.

Nigeria had lost at least 180 million barrels of crude oil in less than one year.

A statement signed by Osinbajo’s spokesman, Laolu Akande, read in part, “In addition to the massive fall in oil prices, the VP stated that the vandalism of pipelines had led to a worsening of the situation with the country losing about one million barrels of oil per day for up to six months now. The vandalism has equally cut power supply short since gas pipelines were also destroyed.”

According to the Vice-President, there is no country in the world that can face the kind of stealing that has taken place in Nigeria without having to deal with the consequences, including the current state of the economy.

He, however, assured Nigerians that even though the times were hard today, “there is great hope that this country will prosper.”

“This country has been badly governed. We are dealing, for instance, with the embezzlement of funds to the tune of $15bn in one sector alone.”

Osinbajo dismissed suggestions that the Buhari administration should stop blaming past governments.

He added, “We have to, that is why we are here. We have not turned attention to the oil and gas sector, where the former CBN governor alleged that $20bn was stolen. We must condemn and stand up against this level of corruption. It is the single most important reason of the current state of the country. We can’t ignore it.”

Osinbajo called on Christian and religious leaders generally to condemn corruption openly.

Responding to the views of the leader of the delegation, Archbishop John Daniel, that members of the forum had been actively involved in the fight against corruption in Nigeria, the VP said indeed the “country has been systematically destroyed.”

He added, “Our currency depreciated because we don’t have the reserves to back it. At the height of the oil boom, there were no savings.”

The senior advocate said that the recent GDP figures released last week indicated clearly there is growth in agriculture and solid minerals.

The social investment programmes, according to the Vice-President, are on course, reassuring the nation “that very soon, the 500,000 jobs scheme will take off,” alongside other schemes.

Earlier, Archbishop Daniel expressed the support of the forum for the diversification of the Nigerian economy by the Buhari administartion but asked the Federal Government to ensure that violent herdsmen were brought to book.

In his response, Osinbajo noted that Buhari had given clear instructions to the security agencies to arrest and prosecute anyone, regardless of status, who carried arms and perpetrated violence.

He, however, lamented that the justice system needed reforms to ensure speedy prosecution.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Government

Buhari Bows to Pressure, Overhauls Murderous Police Unit, SARS

Published

on

FG, NPF Dissolve SARS Amid Nationwide Protests

President Muhammadu Buhari has finally bowed to pressure to disband the murderous Special Anti-Robbery Squad (SARS) unit of the Nigeria Police Force (NPF).

In a statement released on Sunday, Mohammed Adamu, Nigeria’s Inspector General of Police, said the Special Anti-Robbery Squad unit had been abolished “with immediate effect”. He, however, said SARS officers would be redeployed to other police units, formations and commands that the Nigerian people are saying also needs reform.

 

This was after President Buhari had said he met with the Inspector General of Police on Saturday to discuss reform of the UNIT against a complete overhaul being pushed by millions of harassed, dehumanised and disrespected Nigerian youths.

The statement further aggravated Nigerian youths, who encouraged Nigerians abroad to stage protests across the nation’s embassies in a move to draw international media and organisations to the plight of youths in Africa’s largest economy. Sensing chaos amid expected economic recession in the third quarter, President Buhari and the Nigeria Police Force quickly dissolved the murderous anti-robbery squad to force decorum and calm millions of angry Nigerian youths.

Nigerian youths, both celebrities, influencers and regular people, have used their social media backed with action to compel the Nigerian government, known for blatant disrespect, disregard and the use of counter-protests to suppress and discredit dissenting voice, to finally put to an end a police unit that has killed several youths for owning an iPhone, having a laptop, driving a car or even looking good.

This is a win for the Nigerian youths and sent a strong message to the leaders that youths will no longer tolerate their excesses and henceforth would be demanding accountability, transparency and the right implementation of the rule of law regardless of class, status or position.

To the youths, it validated what the majority have been clamouring for, UNITY that transcends tribes and religions. If Nigerian youths stick together and continue to demand change in one voice with civil disobedience, we will eventually have a Nigeria we all can be proud of.

Congratulations to US!.

Continue Reading

Government

LAMATA Says Lagos Red Rail Project to be Operational by October 2022

Published

on

Railway Projects

Lagos Red Rail Project to be Operational in 24 Months

Lagos State Metropolitan Area Transport Authority (LAMATA) has said the ongoing Lagos Red Rail Line project will be completed for operation in the next 24 months, October 2022 to be precise.

Mrs Abimbola Akinajo, the Managing Director, LAMATA, disclosed this at a milestone meeting on the implementation of the Lagos Rail Mass Transit Red and Blue Line projects in Lagos on Tuesday.

In the meeting with contracts, Akinajo said the gathering was to reaffirm the established positions on timelines for delivery of the rail lines to passengers, according to a statement titled ‘Lagos red rail line will be operational in 24 months’ and signed by Kolawole Ojelabi, Assistant Director, Corporate Communication, LAMATA.

She said, “The red line is supposed to be a quick win because it will share tracks with the Nigerian Railway Corporation on its Lagos – Ibadan rail corridor. There will be no delays, no budget or cost overrun and there will not be any shift in delivery date.

“Our meeting is to take stock of what we have done so far since this project started and to re-emphasise that there is no room for slippage in the delivery of the red line.”

Continue Reading

Government

#Endsars: Naira Marley Calls Off Protest following Police Invitation

Published

on

Naira Marley Says no Protest After Police Invitation

Afeez Fashola popularly known as Naira Marley has called off the nationwide protest scheduled for today, Tuesday 6, October 2020.

In a tweet put out by the musician a few minutes ago, he said “We won’t be protesting anymore because there’s a lot of changes being made right now. As a Marlian we will give them a week to see the changes and if there’s no changes we will start a mass protest.”

This was after the Nigeria Police Force reportedly invited the musician a day before the supposed protest to brief him on the ongoing efforts to address concerns of the Nigerian Youth regarding the operations of a unit of the Nigerian Police Force, Special Anti-Robbery Squad (SARS).

On Monday, Sunday Dare, the Minister of Youth and Sports Development, had urged the musician and his followers not to embark on the protest as their grievances are being addressed at the highest level of government.

He said “I urge you and other youth not to embark upon any protest. Your grievances are being addressed at the highest level of government. As the Minister in charge of youth, I know this is an issue that must be tackled. Government is doing just that.

On Tuesday, the musician announced he would be having a live Instagram chat with DCP Frank Mba to discuss the concerns of young Nigerians concern SARS operations.

This was after the Nigerian Police Force had tweeted that “@officialnairam1 The Inspector General of Police wishes to inform Nigerian youths that their voices and complaints on the issues of unprofessional conducts by some SARS operatives have been heared very loudly and clearly.”

However, angry Nigerian youth have started attacking the musician, calling him a Coward like Tu Face. Some claimed he has been paid to call off the protest like every other activist in the country.

Scotty Aluta @saintyommite1 said “At first i respected your actions towards planning a protest but my greatest regret is screenshotting your tweet and post in different platforms to salute your courage, now you just chickened out like everyone else! Real revolutionaries dont bow to pressure! I am disappointed.”

I am Riel @Iam_Riel said “Imagine, you don’t do this on the last day, it’d feel like you got threatened, you protest because you want them to change, not because of the changes you expecting, who would come out with you next week? This is wrong na.”

Manlike @fairlyodd_tweet said “I’m so disappointed in Naira marley, we all lashed at the NLC when they did the same thing now look at our so called youth backing down because they held one meeting that wouldn’t change anything.”

Continue Reading

Trending