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IWC tasks FG over seven-year electricity blackout in Ogun-Waterside



The Ijebu Waterside Club (IWC) at a meeting with Senator Gbenga Daniel on Monday has called on the Federal Government to heed the Save Our Soul (SOS) call of Ogun Waterside Local Government Area (OWLGA) over the total collapse of electricity supply that has grounded socio-economic activities in the last seven years.

President of IWC, Alhaji Ahmed Tijani, a 41-year group of accomplished businessmen and professionals of Ogun Waterside extraction, intimated Senator Daniel, who represents the Ijebu East Senatorial Constituency that includes OWLGA, that the electricity crisis has impeded socio-economic development of the critical agro-industrial hub in Ogun State.

Alhaji Tijani, who noted that the people of OWLGA continue to suffer neglect, highlighted several abandoned government projects that include the OK LNG; the Deep Sea Port; Laogo Resort; Gateway Industrial and Petro-Gas Institute (GIPI) in Oni, the only tertiary educational in the area; Iwopin Paper Mill, and a road contract linking Efire and Ayede-Ayila to Ondo State estimated at over N14 billion that was awarded when Mrs Kemi Adeosun was Finance Minister.

Others include oil & gas related projects that if implemented, would promote job creation, boost government’s revenue earnings and foster overall economic growth across Ogun Waterside, Ogun State and Nigeria.

According to IWC, the Nigeria Electricity and Gas Improvement Project (NIGEP), a World Bank-backed project in partnership with the Federal Government of Nigeria, that was planned to bring succour to the people has also been abandoned, a development that further worsened the crisis in OWLGA.

In 2010, the NIGEP offered a big ray of hope when the Federal Government completed works on the Omotosho 2x150MVA, 330kv power plant, and a proposal was made to construct a 2x150MVA, 330/132kv substation at the power plant and utilise the outgoing 132kv lines to feed neighbouring areas of the power plant.

The Power Holding Company of Nigeria (PHCN) and the World Bank, subsequently decided that the proposed Omotosho-Agodo substation, a 45 kilometre 132kv double-circuit line project, would be executed to serve the people of OWLGA.

The IWC President said that the World Bank-backed electricity project has remained abandoned as funds were not made available to pay compensation to affected stakeholders.

“I also want to thank you for giving us this unique opportunity to meet with you at a very short notice. IWC cherish your simplicity, humility, tenacity and open door policies, a complete Omoluabi virtue,” Alhaji Tijani told Senator Daniel.

“Over the last 41 years of the existence of IWC,” the Club’s President told Senator Daniel, “we have met and interacted with all past Governors of Ogun State right from the time of late Lt. Col. Oladipo Diya (General Diya), except your successor who failed to meet with us throughout his eight years, and of course all our efforts to also meet with the incumbent in the last four years have also not yielded any result.”

While speaking on the neglected GIPI in Oni, he told the Senator that, “we had always advocated for the establishment of a higher institution in our Local Government. We were therefore happy when you established during your tenure as our Governor the Gateway Industrial and Petro-Gas Institute (GIPI) to produce middle level manpower for anticipated projects in the OK FTZ and other Free Trade Zones in Ogun State. But today, the Institute needs help. It is your baby and we trust you will not allow it to die.”

The Iwopin Paper Mill, Alhaji Tijani further stated, “was a  Federal Government project established in our Local Government some 43 years ago that suffered major operational failure like many projects during the military era. The subsequent administrations that ruled this country after, also failed to complete the project. Consequently, the Federal Government sold the Mill at a ridiculously low amount to the late Dr. Tunji Braithwaite, Chairman of BETCO, who promised to get investors to join him and get the project back on track. BETCO,  instead of bringing the company back on track, went ahead to scrap it. All the machinery including the buildings were sold as scraps. Today, Iwopin Paper Mill is totally empty and overgrown with weeds.”

According to the IWC President, “information available to us is that when the location suitable for Deep Sea Port operations was discovered after the geophysical-cum-topographical studies were undertaken many years ago, the physical stretch involved showed that 15 per cent of it belongs to Lagos State, 50 per cent falls within Ogun Waterside seashore in Ogun State, and 35 per cent falls within Ondo State from Ogun State border.

“Unfortunately, nothing has been done and Lagos State, whose portion is marginal, is already working on her Deep Sea Port project. All these projects are capable of generating thousands of jobs and contributing in no small way to the revenue of the State.”

While responding to the IWC delegation, Senator Daniel, a former Governor of Ogun State, expressed his deepest empathy for the people noting that the electricity crisis of over seven years was unfortunate.

While lauding the visit by IWC as a patriotic cause, he also added that effort being made by the group for the welfare of the people of Ogun Waterside, “must be commended.”

According to him, “Don’t get tired or frustrated because all you are doing, and what all of us are doing, are for the benefit of our children.”

Senator Daniel, who received detailed briefing documents from the IWC delegation, promised to personally work with stakeholders across all the tiers of the Nigerian Government to bring the plight of Ijebu Waterside region to the relevant authorities for prompt action.


Tinubu will restore peaceful co-existence in Plateau – Shettima



Vice President Kashim Shettima on Friday assured that the President Bola Tinubu’s administration would restore peace in Mangu Local Government Area of Plateau within the shortest possible time.

Shettima gave the assurance when he played host to a traditional ruler from Mangu, the Mishkahan Mwaghavul, John Hirse, who led a team on a courtesy call to his office at the Presidential Villa, Abuja.

He said that Tinubu was on top of the situation and thus the inevitable return of peace to all troubled parts of the country.

Shettima said that every part of Nigeria would be made to feel the impact of the government under the President Tinubu administration.

He stated that ensuring that no part of the country is left out in the administration’s quest for development is the only way through which peace, unity and development could be fostered.

Shettima said that the crisis in Plateau has nothing to do with religion, saying ” it is just for us to understand ourselves and coexist peacefully with one another.

He said, ” The Plateau is a blessed land with both Muslims and Christians. What binds us together supersedes what divides us.

” This administration will deploy all resources towards addressing all the political contradictions in the bid to restore peace and harmony in the state.

“We are going to address, by the grace of God, all the internal contradictions, the political connotations and even the ethnic undertones which are part of the conflict and ensure we find a lasting solution.

“Ours is a great nation chained by so-called social contradictions that we have in the system.

” And it is absolutely essential that for peace and development of our nation, we must restore the confidence of the people and the government.”

Earlier, the Mishkahan Mwaghavul, Hirse, said he and members of his delegation were in Aso Villa to show appreciation and thank the vice-president for attending his coronation.

Shettima said that attending the coronation personally showed that Shettima is a father of all.

He commiserated with the people of Kaduna Stateand commended the vice-president for the government’s response so far.

The royal father pledged his support and that of his people to Tinubu’s administration.

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Money market

NDIC to pay N16.18bn liquidation dividends of 20 failed banks



The Nigeria Deposit Insurance Corporation (NDIC) says it is prepared to conduct 100 per cent liquidation dividend payments worth N16.18 billion for depositors of 20 failed banks.
Already the corporation has asked depositors to come forward for verification and payment of their deposits that are in excess of the guaranteed sums, otherwise called “liquidation dividends”.
The NDIC Managing Director, Mr Bello Hassan, disclosed this during the NDIC Day at the ongoing 44th Kano International Trade Fair in Kano.
He gave the names of the affected banks as Liberty Bank, City Express Bank, Assurance Batik, Century Bank, Allied Bank, Financial Merchant Bank, Icon Merchant Bank, Progress Bank, Merchant Bank of Africa (MBA), Premier Commercial Bank, North South Bank and Prime Merchant Bank.
He also listed Commercial Trust Bank, Cooperative and Commerce Bank, Rims Merchant Bank, Pan African Bank, Fortune Bank, All States Trust Bank, Nigeria Merchant Bank and Amicable Bank.
Hassan said following the recent revocation of licenses for 179 Microfinance banks (MFDS) and four Primary Mortgage Banks (PMBS) by the Central Bank of Nigeria, the NDIC immediately commenced liquidation of the banks and began disbursing Insured sums to the depositors within just seven days of the closure of the microfinance banks.
“It is Important to note that out of these, the NDIC has paid N1.5 billion to 41,034 depositors of 129 MFBs and PMBs,” he said.
According to him, the payments are still ongoing and depositors with funds exceeding the standard will receive liquidation dividends after recovery of debts and sale of physical assets of the closed banks.
The managing d
irector said it was imperative to note that in the unfortunate event of bank failure, the insurance coverage for depositors varies across different banking institutions.
“While depositors of Deposit Money Banks, Primary Mortgage Banks, Non-Interest Banks, Payment Service Banks, and subscribers of Mobile Money Operators are insured up to a maximum limit of N500,000 per depositor per bank; for depositors of Microfinance Banks, the maximum insurance Limit stands at N200,000 per depositor per bank.
“These insured limits undergo process reviews by the Board of the Corporation, ensuring comprehensive coverage for the majority of depositors.
“Furthermore, depositors holding licenses exceeding the insured sums receive regular payments of the excess in the form of liquidation dividends, that also extends to the benefit of creditors and shareholders of the respective banks,” he explained.
He assured that the NDIC would continue to work in collaboration with the Central Bank of Nigeria to ensure effective supervision of banks and adherence to procedures, guidelines and the Code of Corporate Governance for banks, which safeguards the safety and stability of the Nigeria Banking system.
He called on the general public, especially traders and businessmen, to always ensure that their funds are saved in licensed banks and not kept in their homes or shops to avoid the risks of fire, theft and armed robbery.
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Nigeria losing best brains to “Japa syndrome” — AfDB president



The President of the African Development Bank (AfDB), Dr Akinwumi Adesina, has called on African leaders to create quality jobs for their teeming unemployed youths, to stem the trend of brain drain bedevilling the continent.
Adesina said in Abuja on Friday at the Second Veritas University Digital Innovations Exhibition and 12th Convocation Lecture, that Nigeria was losing its best brains to Japa syndrome.
The former Minister of Agriculture, who spoke on the convocation lecture theme: ” Africa, It’s Your Time”, tasked Nigeria to turn its huge youth demography into an asset and not a liability.
The former Minister of Agriculture who was conferred with an honorary doctorate degree by the institution, announced that Nigeria had been listed among 10 other African countries to benefit from the Bank’s $20 billion Desert-to-Power initiative.
He noted that the power project was conceived to develop 10 GW of solar power, being the largest solar zone in the world when completed.
He listed other countries to benefit from the initiative as Burkina Faso, Cameroon, Chad, the Gambia, Guinea, Mauritania, Mali, Niger, Eritrea, and Senegal.
He also announced AfDB’s adoption of the Veritas University as a Centre of Excellence for Computer Coding for Employment.
“What Africa lacks is not money. What Africa lacks is lack of bankable ideas. Remember, money will always follow great ideas,” he said.
“As you join the workforce, technology and Artificial Intelligence will play a big role in your lives and in your enterprises.
“I expect to see many of you provide creative solutions to many of our challenges through analytics and data aggregation. There are huge opportunities in smart and digital economies of the future.
“All this matter to me personally because I do not want to see the continued exodus of young people who risk their lives to dangerously cross land and sea to go to Europe at all cost.
“The fastest way for Nigeria to dramatically expand the wealth of its economy, create jobs and provide decent work opportunity for its youth is to implement bold, effort-oriented, industrial manufacturing actions.
“This will rapidly expand foreign exchange earnings, boost income per capita and provide quality and well-paying jobs for millions of its young people,” he added.
Adesina charged the youth, both in Nigeria and Africa as a whole, to dream again while urging Africa to make us of the largest reserves of cobalt, lithium, diamonds, cocoa, nickel, copper, platinum and uranium in the world.
According to him, those resources could boast of 65 per cent of the world’s arable land and the largest deposit of solar potentials but has not materialised into wealth for the continent.
The Vice Chancellor of the University, Prof. Hyacinth Ichoku, revealed that the institution’s undergraduate enrollment had increased from 1,200 in 2018 to over 6,000.
Also, the Pro-Chancellor and Chairman Governing Council of the institution, Most Rev. Matthew Kukah urged the graduating students to be good ambassadors of the institution.
Kukah, in a bid to give back to the institution, announced a donation of N3 million to three students who demonstrated their ideas to the gathering.
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