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N80.2billion Money Laundering: Yahaya Bello’s Absence Stalls ArraignmentFormer governor of Kogi State, Yahaya Bello on T...
18/04/2024

N80.2billion Money Laundering: Yahaya Bello’s Absence Stalls Arraignment

Former governor of Kogi State, Yahaya Bello on Thursday, April 18, 2024 failed to appear before Justice Emeka Nwite of the Federal High Court, Maitama, Abuja to kick off his arraignment by the Economic and Financial Crimes Commission, EFCC.

Bello was slated for arraignment by the EFCC alongside Ali Bello, Dauda Suleiman and Abdulsalam Hudu on 19-count charges bordering on money laundering to the tune of N80,246,470,089.88 (Eight Billion, Two Hundred and Forty-six Million, Four Hundred and Seventy Thousand and Eighty-Nine Naira, Eighty-Eighty Kobo).

Count one of the charges reads: That you, Yahaya Adoza Bello, Ali Bello, Dauda Suliman, and Abdulsalam Hudu( Still at large), sometime, in February, 2016, in Abuja within the jurisdiction of this Honourable Court, conspired amongst yourselves to convert the total sum of N80,246,470,088.88 (Eighty Billion, Two Hundred and Forty Six Million, Four Hundred and Seventy Thousand and Eight Nine Naira, Eighty Eight Kobo), which sum you reasonably ought to have known forms part of the proceeds of your unlawful activity to wit, criminal breach of trust and you thereby committed an offence contrary to Section 18(a) and punishable under Section 15(3) of the Money Laundering (Prohibition) Act, 2011 as amended”.

Count 17 of the charges read: “That you Yahaya Bello between 26th July 2021 to 6th April 2022 in Abuja within the jurisdiction of this Honourable Court aided E-Traders International Limited to conceal the aggregate sum of N3,081,804,654.00 (Three Billion, Eighty One Million Eight Hundred and Four Thousand Six Hundred and Fifty Four Naira) in account number 1451458080 domiciled in Access BankPlc, which sum you reasonably ought to have known forms part of proceeds of unlawful activity to wit, criminal breach of trust and you thereby committed an offence contrary to Section 18(a), 15(2) (d) of the Money Laundering ( Prohibition) Act, 2011 as amended and punishable under Section 15( 3) of the same Act.

Count 18 of the charges reads: “That you Yahaya Adoza Bello sometime in November 2021 in Abuja within the jurisdiction of this Honourable Court indirectly procured E-Traders international Limited to transfer the aggregate sum of $570,330.00 (Five Hundred and Seventy Thousand, Three Hundred and Thirty Dollars) to account number 4266644272 domiciled in TD Bank, United States of America which sum you reasonably ought to have known forms part of proceeds of unlawful activity to wit, criminal breach of trust and you thereby committed an offence contrary to Section 15(2) (d) of the Money Laundering (Prohibition) Act, 2011 as amended and punishable under Section 15( 3) of the same Act.”

Yahaya Bello’s botched arraignment came on the heels of his warrant of arrest granted the EFCC by the court on Wednesday, April 17, 2024.

Prosecution counsel, Kemi Pinheiro (SAN) regretted that a lawful attempt to serve the defendant the charges, along with a court order of arrest was botched “by a person of immunity, who came and whisked him away in his car,” noting that by virtue of Section 287 of the constitution all persons are obliged to obey a court order. Also, Section 12 of ACJA, he said, allowed law enforcement agencies to break down premises to bring unwilling defendants to justice.

Pinheiro assured that “The state will invoke all its powers within the law to ensure that the defendant is produced in court. The state will ensure that he is produced in court for the purpose of arraignment, and it is in his own interest so that he can take his plea”.

At about 5am, anti-crime patrol officers from Maroko Division noticed a minibus do a quick u-turn upon sighting them on ...
18/04/2024

At about 5am, anti-crime patrol officers from Maroko Division noticed a minibus do a quick u-turn upon sighting them on Hakeem Dickson Street.

The officers went in pursuit. Six persons jumped out of the vehicle running in different directions. The officers caught up with the vehicle and arrested the only person left in the vehicle, the driver, Azeez Babatunde.

A search of the vehicle led to the recovery of two locally-made pistols, two unexpended cartridges and a knife. Investigation is ongoing.

Credit: X | David Hundeyin

In 2022/23, in his final season at Arsenal, Granit Xhaka transformed his role, won back the fans and came close to lifti...
15/04/2024

In 2022/23, in his final season at Arsenal, Granit Xhaka transformed his role, won back the fans and came close to lifting the first league title of his career.

Ultimately, Arsenal fell short, setting the record for the most time spent at the top of the table without winning the title in English top-flight history.

This summer, he joined Bayer Leverkusen in search of a new challenge: they had never won a Bundesliga league title; Bayern had won the last 11.

In 2023/24, Xhaka leads the entire division for the following stats:

◉ Most touches
◉ Most passes completed
◉ Most passes into the final third
◉ Most possession won middle third

And with five games to spare, having started every single match, he has just lifted the first league title of his career and the first one in Bayer Leverkusen’s history.

He even scored in the win that secured the trophy. 🏆

Florian Wirtz asked the Leverkusen fans not to invade the pitch until the final whistle. 🏆He scored in the 83rd minute a...
15/04/2024

Florian Wirtz asked the Leverkusen fans not to invade the pitch until the final whistle. 🏆

He scored in the 83rd minute and this was the scenes. 😂

That steward clearly forgot his job for a second. The power of football. 🤩⚽️

Coalition For Peter Obi (CPO) Invite Tonto D**e to Join the Borehole Water Challenge"179million Nigerians are without Ac...
13/04/2024

Coalition For Peter Obi (CPO) Invite Tonto D**e to Join the Borehole Water Challenge

"179million Nigerians are without Access to clean water, Play your role to reduce that number..."

_______________
Dear Tonto D**e,

Our attention have been drawn to your outburst on the ongoing debate about the borehole that was donated by H. E Peter Obi in Zaria and other part of the country ravaged by lack of access to clean water.

There is nothing wrong criticising political leaders, none the less, when we do this, let us do this is with the mindset to contiribute to the solution and not with the urge to please some section who are hell bent on describing even the best philanthrophic act with so much disdain. These section who are responsible for defending all that is wrong with this country do not care about the project that have brought smiles to the faces of those affected by the dearth of clean water in Nigeria, they are simply angry that there exist a viable movement headed by H. E Peter Obi to bring out the Nigeria of our dream, and are determined to ensure we never see the Nigeria of our dream. Resist the urge to associate with this sect.

In March 2024, when the Nigerian Institute of Water Engineers (NIWE) reported that about 179 million Nigerians lack access to clean waters, we went through your handle but we saw nothing there on how you have decided to use your platform to criticize the government from both federal to local government on this distasteful occurence in our dear nation where over 85% of Nigeria Population will lack access to something as basic as clean water. But somehow you find it convenient to make an attempt to drag Peter Obi for taking a step no matter how little to reduce the water crises in Nigeria.

Take a sober reflection at yourself and ask where you stand in this middle of this crises! You were not angry when it was announced that 179 million Nigerians are without access to clean water, but somehow you discover your long lost and forgotten anger because Peter Obi donated a Borehole to provide water. Your concern is not about the water, but about the aestethics of the borehole.

The inhabitants of Zaria who are benefitting from the philanthrophic gesture of His Excellency, Peter Obi are not complaining, they are happy, because this serves as an opportunity to get clean water, thereby taking away from the 179m Nigerians without access to clean water as reported by NIWES in March 2024. Instead of trying to drag someone who is doing something, why not play a role to reduce that devastating number..."

H. E. Peter Obi did this out of his pocket and this hurt absolutely no one in that community, rather it has brought joy to the young boys, girls, men and women who now have a source of clean water to meet basic needs.

As part of the ongoing borehole challenge that the CPO is pushing to ensure that those of influence do something about the 179 million Nigerians without access to clean water. We also invite you to this challenge to provide water to those in need in Nigeria. We see that you are enthusiastic about Nigerians having access to clean quality water, we thereby extend the invitation to you to be part of this philanthrophic move in any part of the country.

Let's do something no matter how little to solve the problem around us when we can, rather than doing so much to bring down those who are doing something about our collective problem in this country. No matter how little. Little drops of water makes a mighty ocean. A little borehole in a little tank at a time takes Nigeria from a country of 179m Nigerians without Access to Clean water, to a country with an ambundance of access to clean water. Peter Obi have taken his step and you are welcome to join the challenge.

Let is not go down in history that at a time when 179 million Nigeria lacked access to clean water, Tonto D**e's was more concerned about condemning those who have taken their little step to solve the problem.





Coalition for Peter Obi (CPO)

🚨 𝐁𝐑𝐄𝐀𝐊𝐈𝐍𝐆: Enzo Fernández and Axel Disasi are out injured for Chelsea, club confirms 🔵Raheem Sterling and Robert Sanche...
12/04/2024

🚨 𝐁𝐑𝐄𝐀𝐊𝐈𝐍𝐆: Enzo Fernández and Axel Disasi are out injured for Chelsea, club confirms 🔵

Raheem Sterling and Robert Sanchez are ill while Levi Colwill, Fofana, Reece James, Roméo Lavia, Nkunku and Ugochukwu are still all on club’s injury report.

🔙 Ben Chilwell, back on team training.

Lagos Court Jails Bobrisky Six Months for Naira AbuseJustice Abimbola Awogboro of the Federal High Court, sitting in Iko...
12/04/2024

Lagos Court Jails Bobrisky Six Months for Naira Abuse

Justice Abimbola Awogboro of the Federal High Court, sitting in Ikoyi, Lagos, on Friday, April 12, 2024, sentenced Idris Okuneye, a.k.a Bobrisky, to six months imprisonment over mutilation of the Naira notes.

He was arraigned on Friday, April 5, 2024, on a four-count charge bordering on mutilation of the Naira notes to the tune of N490,000,00 (Four Hundred and Ninety Thousand Naira).

Count one reads: “That you, OKUNEYE IDRIS OLANREWAJU, on the 24th day of March, 2024, at Imax Circle Mal, Jakande, Lekki, within the jurisdiction of this Honourable Court, whilst dancing during a social event, tampered with the total sum of N400,000.00 (Four Hundred Thousand Naira) notes issued by the Central Bank of Nigeria by spraying same and you thereby committed an offence contrary to and punishable under section 21(1) of the Central Bank Act, 2007.”

Another count reads: “That you, OKUNEYE IDRIS OLANREWAJU, on the 24th day of March, 2024, at Imax Circle Mal, Jakande, Lekki, within the jurisdiction of this Honourable Court, whilst dancing during a social event, tampered with the total sum of N400,000.00 (Four Hundred Thousand Naira) notes issued by the Central Bank of Nigeria by spraying same and you thereby committed an offence contrary to and punishable under section 21(1) of the Central Bank Act, 2007.”

Another count reads: “That you, OKUNEYE IDRIS OLANREWAJU, between July and August, 2023 at Aja Junction, Ikorodu, within the jurisdiction of this Honourable Court, whilst dancing during a social event, tampered with the sum N50,000.00 (Fifty Thousand Naira) issued by the Central Bank of Nigeria by spraying same and you thereby committed an offence contrary to and punishable under section 21(1) of the Central Bank Act, 2007.”

He pleaded “guilty” to the charges when they were read to him.

At the last sitting, the prosecution counsel, S.I. Sulaiman, urged the court to allow the investigating officer, ASE I Bolaji Temitope Aje, to give a brief review of the facts against him.

Aje narrated to the court that the EFCC received intelligence on some individuals, who are in the habit of mutilating and spraying the Naira notes at social parties and event centres in Lagos.

According to him, “Based on intelligence, the EFCC set up the Special Operations Team to observe and monitor activities of individuals, who are involved in the habit of mutilating the Naira.

“The team visited many event centres and monitored social media pages, where the Naira was being abused. During the course of the monitoring, the team came across videos on social media, where the defendant was seen abusing the Naira. The team then proceeded to download these videos via our office laptop computers and also went further to copy these videos on compact discs”.

“In the light of the foregoing, a letter of invitation was written and forwarded to the defendant.

“The defendant honoured the invitation. When he got to our office, he was voluntarily cautioned. Thereafter, he volunteered to write his statement”.

“The defendant was shown a video, where he was spraying money on an artiste called Segun Johnson. The defendant confessed that he was the one in the video. He was also shown a video at IMAX Circle Mall, where he sprayed a total sum of N400,000 at a movie premiere. The defendant also admitted that he was the one in the video and that he carried out the abuse”.

“The defendant was also shown two other videos of him spraying the Naira at Aja junction, Ikorodu, and White Stone Event Centre, Ikeja, Lagos.

“The defendant admitted to spraying money in these videos. He was, therefore, served with a bail condition.

Consequently, Sulaiman then prayed the court to convict and sentence the defendant accordingly.

Justice Awogboro had, thereafter, ruled that “upon the admission of guilt by the defendant, testimony of PW1 and following the evidence tendered, the defendant is declared guilty as charged.”

In his plea for mercy, Bobrisky said: “I am a social media influencer, with five million followers; and in all honesty, I was not aware of the law. I wish I can be given a second chance to use my platform to educate my followers against the abuse of the Naira.”

Also, his lawyer had said: “He will lead the crusade against the abuse of Naira. He is also an employer of people; and if he goes to jail, the people he employs will suffer. He has cooperated with the EFCC and has not wasted the time of the court. We urge the court to caution the defendant and allow him to go. He has given evidence that he will be useful to the country. We urge you to grant a non-custodial sentencing option of fine.”

After listening to both parties, the Judge had deferred judgment in the matter to Tuesday, April 9, 2024, and also ordered that he be remanded in the EFCC custody.

Delivering judgment on Friday, Justice Awogboro held that “ The act of mutilating the Naira notes has become a menace, which has continued to damage the image of the country.

“Enough of people mutilating and tampering with our currencies. It has to stop. His will serve as a deterrent to others.”

The Judge, therefore, sentenced him to six months imprisonment, without an option of fine, from the date of his remand.

Tinubu's N15trillion Lagos-Calabar Project Is Highway To Fraud, Waste – Atiku
12/04/2024

Tinubu's N15trillion Lagos-Calabar Project Is Highway To Fraud, Waste – Atiku

Former Abia Governor And Ex-Science And Technology Minister, Ogbonnaya Onu Dies At 72
12/04/2024

Former Abia Governor And Ex-Science And Technology Minister, Ogbonnaya Onu Dies At 72

“JUST IN: Anambra Community insists Latè Nollywood Actor Junior Pope Must be BurieD beside the River Niger as Tradition ...
12/04/2024

“JUST IN: Anambra Community insists Latè Nollywood Actor Junior Pope Must be BurieD beside the River Niger as Tradition demands”. - PUO

06/04/2024

If have any information that would help locate his people kindly share it. This happened in Enugu State.

Please Make This Video To Go Viral.....someone might know him.

EFCC Grills Bobrisky for Naira AbuseOperatives of the Lagos Zonal Command of the Economic and Financial Crimes Commissio...
04/04/2024

EFCC Grills Bobrisky for Naira Abuse

Operatives of the Lagos Zonal Command of the Economic and Financial Crimes Commission, EFCC, have commenced investigation of Idris Okuneye, a.k.a Bobrisky, for allegedly spraying Naira notes.

The EFCC had invited the 31-year-old following a video report of spraying and flaunting wads of new Naira notes at the premiere of a movie, Ajakaju, produced by Eniola Ajao, a Nollywood actress and producer, at Film One Circle Mall, Lekki, Lagos on March 24, 2024.

The investigation also revealed that he had also committed the alleged offence at some other event centres and parties at different times.

Following the invitation by the Commission, he arrived at the Lagos Zonal Command of the EFCC on the morning of Wednesday, April 4, 2024, for interrogation and volunteered his statements.

He will soon be charged to court upon conclusion of investigations.

Credit: X | EFCC

178 The children were rescued on Sunday178 A*o ebi was ready on MondayIsn't this a miracle? 🤷‍♂️
26/03/2024

178 The children were rescued on Sunday
178 A*o ebi was ready on Monday

Isn't this a miracle? 🤷‍♂️

Kano keke rider who returned missing N15m gets N250m scholarship from Pres. Tinubu, others A 23-year-old Kano-based comm...
06/03/2024

Kano keke rider who returned missing N15m gets N250m scholarship from Pres. Tinubu, others

A 23-year-old Kano-based commercial Tricyclist, Awwalu Salisu, who returned a cash of N15million left in his tricycle by a Chadian businessman in 2023, has been offered a scholarship up to PhD level of education to the tune of N250million.

The presidential candidate of the Labour Party (LP), Peter Obi, was the first to offer Awwalu scholarship at the Abuja-based Baze University up to PhD level during an event in Abuja on Tuesday, March 5.

Thereafter, Niger State governor, Mohammed Umar Bago, jocularly reacted by saying Labour Party cannot be allowed to outshine the ruling All Progressives Congress (APC).

According to Leadership, Bago consequently announced a N250m scholarship award to Awwalu to appreciate his act of honesty and to encourage other young Nigerians to imbibe the virtue.

He said Awwalu will get N50m scholarship each from him personally, President Bola Tinubu, his Ministers, APC Governors Forum and Niger State government.

Bago added that he would name one of road projects he was undertaking in Niger State after the Kano Keke rider.

NEWS UPDATE:Geometric Power: Prof Barth Nnaji Writes Governor Alex Otti on Equity Stake by Ikpeazu Administration The Ch...
01/03/2024

NEWS UPDATE:

Geometric Power: Prof Barth Nnaji Writes Governor Alex Otti on Equity Stake by Ikpeazu Administration

The Chairman/CEO of Geometric Power has addressed a formal letter to Governor Alex Otti wherein he stated that the administration of Governor Okezie Ikpeazu actually paid for 3.5% equity representing $3.56m in the company. This was revealed by a reliable source working with Geometric Power who spoke with our correspondent.

This is coming on the heels of controversies started by Prof Nnaji who told newsmen on Friday that Abia State Government did not have any investment in the company but was countered by the former commisioner for Trade and Investment during the Okezie Ikpeazu administration, Chief John Okiyi Kalu who asserted that he had evidence that the sum of $3.56m was paid to Geometric Power by the administration through Stanbic Bank.

In the leaked letter dated 28th February 2024 and making the rounds in public space, Prof Nnaji confirmed its details as previously sent to Governor Ikpeazu.

Interestingly, Governor Alex Otti had already received this letter before his interview with Channels Television on Thursday night where he claimed that he had no evidence that the state had any investment in the Geometric Power Aba project. In that interview, he also claimed that he did not have documents to prove that any investment was made.

But Mr Okiyi in a social media post stated that the transaction was recorded in the handing over note given to Governor Alex Otti on May 29th 2023 and that all he had to do as Governor was to request for details from the state's ministry of finance to confirm.

He further stated that the same details were published in the 2022 financial report of the state as circulated by the Otti administration and wondered how Governor Otti could have first denied the existence of the investment through his aides and later lied on national television about it whereas he already had possession of the letter from Prof Barth Nnaji confirming Abia's investment in the project as consummated by former Governor Okezie Ikpeazu.

Responding to questions from our correspondents, Chief Okiyi asked Prof Nnaji to come clean on why he earlier denied the investment only to turn around to confirm its existence. According to him, “Prof benefitted immensely from the support given to him and his company by Dr Okezie Ikpeazu and I still wonder why he denied the investment in the first place and tried to belittle the magnitude of the interventions made by Ikpeazu.

"I am aware that it was Governor Ikpeazu that took him to China to meet with Rui Group that wanted to invest and later to Egypt and South Africa where a facility of $50m was finalized by AFREXIM bank for the project.

"In addition to that, Governor Ikpeazu also invested the sum of $3.56m on behalf of the people of Abia State in the Geometric Aba Power Project, yet Prof allowed himself to be corralled by a desperate glory hunting politician whose only contribution to the project appears to be supporting a loan for high profit facility in 2012," he concluded.

Credit: Twitter / Oseni Rufai

🚨 Paul Pogba releases an official statement after four year ban due to doping.“I have today been informed of the Tribuna...
01/03/2024

🚨 Paul Pogba releases an official statement after four year ban due to doping.

“I have today been informed of the Tribunale Nazionale Antidoping's decision and believe that the verdict is incorrect.

I am sad, shocked and heartbroken that everything I have built in my professional playing career has been taken away from me.

When I am free of legal restrictions the full story will become clear, but I have never knowingly or deliberately taken any supplements that violate anti-doping regulations.

As a professional athlete I would never do anything to enhance my performance by using banned substances and have never disrespected or cheated fellow athletes and supporters of any of the teams I have played for, or against.

As a consequence of the decision announced today I will appeal this before the Court of Arbitration for Sport.”

Geometric Operations In ABA, Abia State Under Governor Alex Otti: Here’s A Summary Of Why Emeka Offor Is Trending.Emeka ...
29/02/2024

Geometric Operations In ABA, Abia State Under Governor Alex Otti: Here’s A Summary Of Why Emeka Offor Is Trending.

Emeka Offor, the Chairman of Chrome Groups and Promoter of Interstate Electrics Limited is trending for allegedly having a hand in slowing down the actualisation of the Geometric power plant in Osisioma, Aba.

It took nearly two decades for Geometric to finally get a shot at fulfilling its promise to provide 24-hour power supply to the city of Aba after it turned on the first of its four power-generating turbines for the first time on Sunday, February 25, 2024.

Emeka Offor, who was a close friend of Namadi Sambo, Nigeria’s Vice President at the time, was said to have frustrated the operation of the power plant primed to deliver uninterrupted power supply to Aba.

Emeka Offor, who was blocking the project, had Pius Anyim, secretary to the government of the federation, in his pocket, while Sam Amadi, the chairman and CEO of NERC, was beholden to Anyim.

Geometric was licenced in 2005 to deliver power supply to Aba and Ariaria business units, just two out of 18 business units in the Enugu Disco licence areas.

However, the Bureau of Public Enterprises (BPE) sold EEDC to Emeka Offor’s Interstate Electrics without exempting Aba from the sale, thereby causing friction between Interstate Electrics and Geometric.

The backing of then Vice President Namadi Sambo titled the balance in favour of Offor’s Interstate Electrics.

According to sources, the former vice president had vested interests in Interstate Electrics and wanted the company to end up buying Enugu Disco.

However, the Bureau of Public Enterprises (BPE) sold EEDC to Emeka Offor’s Interstate Electrics without exempting Aba from the sale, thereby causing friction between Interstate Electrics and Geometric.

It resulted in a lot of disputes and lawsuits at a federal high court in Abuja.

Long story short, 19 years later, the 181-megawatt Geometric Power Plant in Aba, described as the biggest investment in the Southeast is a Reality!

Credit: Twitter / Somto Okonkwo

On Monday, the 188MW Geometric Power Plant in Aba, Abia State, was commissioned. By this weekend, Aba Power Limited, a s...
29/02/2024

On Monday, the 188MW Geometric Power Plant in Aba, Abia State, was commissioned. By this weekend, Aba Power Limited, a subsidiary of Geometric Power, will commence the electricity supply to a section of Enyimba City. It has taken long, two decades in coming. But soon, the much-needed electricity to unleash the full potential of Aba, the industrial and commercial nerve centre of Abia, will surely make up for the long wait.

I congratulate and appreciate the efforts of Prof Barth Nnaji and his team to deliver on this project despite all the (political and) business environment obstacles. His tenacity and demonstration of the ‘can-do spirit’ is exemplary. It is remarkable that the governor of Abia state had stayed the course of the project that he had made an initial contribution to as a private sector person. Equally worthy of congratulation is the enterprising people of Abia.

This significant milestone is important for several reasons. Firstly, it improves people's access to electricity – thereby improving the overall quality of life in Abia. This is a privilege the people of Abia must be thankful for. As we all know, more than 40% of Nigeria’s 220 million people do not have access to electricity.

Secondly, it is a big boost to businesses. Aba is one of Southeast's industrial nerve centres. The other is the Nnewi axis. Inadequate power infrastructure is identified as the most problematic factor for doing business in Nigeria. More than 70% of firms in Nigeria use generators.

Thirdly, the project is delivered by the private sector - and an indigenous one to boot! It demonstrates the resilience of the private sector despite all the business environment issues. It also demonstrates the capacity of the local private sector to deliver on such huge and complex projects.

Why does this excite me?

I have all along been concerned that:

1. The Nigerian Electricity Supply Industry (NESI) has over the years suffered from inadequate investments, failure of generation, transmission, and distribution infrastructure.

2. Nigeria’s core infrastructure stock is very low, estimated at 35-40% of GDP, below the international benchmark of 70% and below South Africa 87%, Indonesia 70%, China 76% and India 58%.

3. The finances required to bridge Nigeria’s infrastructure gap are in the region of US$100 billion per annum - over the next 30 years. Nigeria does not have the resources to provide all of its infrastructure needs without sacrificing investments in education, health, and other social services. It should be remembered that Nigeria struggles to budget no more than US$30 billion annually.

For these reasons, I have been an ardent advocate of private sector presence in Nigeria. I have all along advocated for a private sector friendly business environment so we could leverage its enormous resources, including finance, skills, and technology. I doubt if the Abia state government would have been able to execute this mega project with the resources at its disposal.

My policy document outlines how Nigeria could prioritize investments to increase the stock and improve the quality of economic and social infrastructure across the country. We believe that narrowing the enormous gap that exists between the demand and supply of key infrastructure facilities in Nigeria is key to improving the competitiveness of our businesses, opening new economic and entrepreneurial opportunities, and promoting enterprise growth.

To achieve this, we pledged to undertake far-reaching institutional reforms and introduce innovative infrastructure financing models that will be appealing to the private sector to take risks and invest capital.

To this end, we pledged to:

· Facilitate the establishment of a private sector-led Infrastructure Debt Fund (IDF) to mobilize domestic and international private resources for the financing and delivery of large infrastructure projects across all sectors of the economy.

· Establish an “Infrastructure Development Unit” (IDU) in the Presidency, with a coordinating function and a specific mandate of working with the MDAs to fast track and drive the process of infrastructure development in the country.

· Strengthen the capacity of the ICRC to promote Public Private Partnerships (PPP) in the construction and management of infrastructure across the country.

· Broaden the scope of InfraCredit to complement the operation of the IDF by de-risking investments in infrastructure to build investor confidence in taking risks and investing capital.

· Open up the entire power sector from generation to transmission for private investments.

Going forward, the goal of every developing country must be to achieve universal access to electricity, ensuring that every citizen benefits from reliable power for daily needs, education, healthcare, and economic activities. This would be in line with the SDG 7 (Sustainable Development Goal 7), which aims to ensure affordable, reliable, sustainable, and modern energy for all. In this wise:

· Nigeria must double efforts to support the likes of Prof Nnaji. Nigerian governments both federal and state must provide the Business environment that will make the private enterprises more competitive by (1) reducing their costs of set-up and operations (2) improving their margins and (3) making government policies more predictable

· In particular, the authorities must create an environment that will enable distribution companies to recover full costs for power supplied to their consumers with firm commitment to a metering program for all customers. The scourge of electricity theft must be dealt with through a viable partnership between investors in the distribution companies and the government with legislative support for prompt action against electricity theft.

· Attention must be paid to improve access to Credit by enterprises willing to invest in the power sector.

· Government must incentivize the private sector to increase greenfield investments in the development of off-grid solutions to intensify electrification, particularly of rural communities not yet serviced by the grid.

Credit: Twitter/ Atiku Abubakar

BREAKING!!!This is just a reminder to Ndi- Anambra that we can not reinforce fa!lure in 2025 . Soludo is a one term gove...
29/02/2024

BREAKING!!!

This is just a reminder to Ndi- Anambra that we can not reinforce fa!lure in 2025 . Soludo is a one term governor.

We have witnessed what Dr. Alex Chioma Otti is doing in Abia State, and that is the type of leadership that Valentines Ozigbo of Labor Party will provide for Nndi- Anambra.

Guys, fa!lure is not an option, we cannot go back to Egypt.

Nndi- Anambra employed professor Chukwuma Soludo to work for the Anambra people , Instead of doing his job, he was busy gossiping up down about Peter Greg Obi.

Governor Alex Otti is not up to one year in office, but Abians and, indeed, Nigerians can testify about his excellent performance so far.

"Peter obi investments in Anambra State are worthless" - Professor Chukwuma Soludo

( Almost 4 years in office, Soludo has not achieved anything. Absolutely nothing)

Nndi Anambra, we can not reinforce fa!lure in Anambra State.

Professor Chukwuma Soludo (Nwa mgbafor, is a monumental fa!lure.)

Credit: Twitter / Ifeanyi Akorjuru

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