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Atiku Queries FG’s Accelerated Approval Of Oando, AGIP/ENI Deal

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. . . Slams Tinubu Over Subsidy Scam, Rights Abuse

. . .  Demands Release Of Detained Whistleblower, Bristol Tamunobiefiri

Former Vice President of Nigeria, Atiku Abubakar has demanded for explanations from the Federal Government on the accelerated approval for Oando to buy the onshore assets of AGIP and ENI while other transactions like the Shell/Renaissance deal and the Mobil/Seplat remained in the cooler.

Biztellers reports that the Presidential Candidate of the Peoples Democratic Party in Nigeria’s 2023 election alleged that the Oando Plc owned by the Tinubu family.

ALSO READ; Atiku Showers Praises Enigmatic IBB On 83rd Birthday

This was contained in a statement in Abuja, on Sunday by the Special Assistant on Public Communication to Atiku Abubakar, Phrank Shaibu.

According to Shaibu, his principal also slammed the Bola Tinubu administration for implementing a sham subsidy regime as revealed in the financial statement recently released by the Nigerian National Petroleum Company Limited (NNPC Ltd).

Atiku lamented, “Tinubu visited the FMDQ in New York, visited Qatar, visited France where he told lies about removing petrol subsidies. Obviously, this is not a man who is serious about attracting FDI.

“More worrisome is that he is not even brave enough to admit that subsidy is being paid. The NNPCL admits that N7.8tn is owed to the national oil company by the Nigerian government.

“IMF estimates that subsidy payments this year will constitute 3% of GDP, which is about $7.5bn. This will be about N11.8tn. Yet, the petrol scarcity continues to linger while the Tinubu administration continues to frustrate the Dangote Refinery and even its own NNPCL facilities.

“Obviously, the subsidy regime has become an even wider conduit pipe through which monies for funding the 2027 election will come.”

Atiku, Shaibu wrote, doubled down on his allegation that Oando was being given undue and preferential treatment in the oil and gas sector to the detriment of more competent investors.

Specifically, Atiku knocked the House of Representatives for failing to take proper action on the NNPC Ltd which has now gone ahead to “mortgage the country’s national oil assets to vested interests”.

Atiku said, “Within just eight months, the Nigerian Upstream Production Regulatory Commission (NUPRC) approved a deal which saw the divestment of ENI/AGIP onshore assets to Oando. Within that same period, Nigeria controversially withdrew all litigation against Shell/ENI in the OPL 245 scandal in what has been described as a quid pro quo.

“However, the attempt by SEPLAT to buy Mobil’s onshore assets has continued to stall for the last three years even as the consent letter remains on Tinubu’s table. The deal between Renaissance and Shell continues to stall.

“In fact, the only deal that has fully scaled through so far is the one involving Oando. We now know why it got accelerated approval.

“Ideally, democracy ought to be government of the people, for the people, and by the people. But democracy in Nigeria has become the government of Tinubu, by Tinubu, and for Tinubu and his family members.”

Atiku added, “In July 2023, the House of Representatives, following the adoption of a motion moved by Miriam Onuoha directed NNPC Ltd to suspend the acquisition of OVH assets pending an investigation by its committee.

“The House ad-hoc committee requested the NNPC Ltd to furnish it with information about registration documents/history from CAC for OVH, Nueoil, and NNPC Retail Limited (NRL), Board Resolution of NNPC Ltd on purchase of OVH, Audited Financial Statement and Management Accounts from 2015 to date of OVH, Nueoil, NRL and NNPC Ltd and the payroll from 2015 to date for NRL and OVH; Board Resolution of NRL/CHQ for movement of head office to Lagos and evidence of Tax Payments for NRL and OVH from 2015 to date.

“The NNPC ignored all these and went ahead to transfer its ownership and properties in its retail arm to OVH, thereby mortgaging the future of Nigerians.

“Despite the rot in the oil sector, the head of the NNPC, the head of the NUPRC, and the head of the NMDPRA continue to keep their jobs. This is clear evidence that they are fulfilling the mandate given to them by Tinubu.”

Furthermore, Atiku pointed out that the NNPC lied in its vacuous response to their statement last week, as it is on record that the Kyari-led management appointed Huub Stoksman, a former Chief Executive Officer of OVH Energy, as Managing Director of NNPC Retail, and Mumuni Dangazau, the former Chief Operating Officer of OVH Energy, as his Special Adviser Downstream, long before the consummation of the incestuous marriage of the entitities.

In a related development, Atiku also lambasted the Tinubu administration for the rise in human rights abuses.

According to  the Waziri Adamawa, Tinubu who rode to power over exaggerated claims of being a freedom fighter, had turned against the people by allowing the Department of State Services (DSS), police and even the military to abuse the rights of citizens without any consequences.

He noted that in some instances, citizens were arrested in a gestapo manner without the knowledge of their relatives who go about looking for them for several weeks.

The former Vice President said the most affected since Tinubu took office have been journalists whose only crime is reporting the news and exposing government indiscretion.

He argued that the Cyber Crime Prevention Act 2015 had become a tool with which officials in the Tinubu administration were abducting citizens while the Nigeria Police Force National Cybercrime Centre (NPF-NCCC) had transmuted into the defunct SARS.

The dangerous trend of enforced disappearances has become a national embarrassment for a country which claims to be practising democracy. On May 1, 2024, Daniel Ojukwu of the Foundation for Investigative Journalism went missing and was presumed abducted by kidnappers until he was later discovered to be in police custody on the orders of IGP Kayode Egbetokun.

“Ojukwu’s crime was that he exposed the corruption of a government official who currently serves in Tinubu’s administration. On July 23, the DSS arrested one Aliyu Sanusi in Sama Road of Sokoto, the state capital for printing and distributing materials ahead of the #EndBadGovernanceProtest. Even the arrest and release of the former BBC Pidgin Editor and current West Africa Regional Editor of the Conversation, Adejuwon Soyinka, clearly shows a pattern, which objective is to intimidate journalists for speaking truth to this government.

“Now, the police have arrested Bristol Tamunobiefiri, who owns the PIDOM Nigeria blog on X, formerly Twitter. After detaining him for over two weeks, he was granted an administrative bail, which will be impossible to meet. This is despite the fact that the Appeal Court, in the case of EFCC V. Emem Uboh (2022) LPEIR – 57968 (CA) held that administrative bail is illegal. Bristol should, therefore, be arraigned in court immediately or released,” Atiku added.

Atiku advised Tinubu to take cases of human rights abuses seriously or Nigeria would remain at the risk of being slammed with sanctions which would prevent western powers from selling weapons, a development he argues could undermine Nigeria’s ability to tackle insecurity.

“Amnesty International still has a pending petition before the Foreign Committee of the US Congress against the sale of weapons to Nigeria due to human rights concerns in line with the Leahy Law. Tinubu would do well to curb these cases of rights abuses by law enforcement authorities who all report to him as commander-in-chief,” the former Vice President said.

 

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Nigeria’s Debt Service Ratio Falls To 65% As Tinubu Tackles Economic Woes

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In an effort to reduce Nigeria’s debt burden and stabilize the economy, President Bola Tinubu announced on Monday that the country’s debt service-to-revenue ratio has fallen from 97 to 65 percent over the 17 months since he took office.

Speaking at the swearing-in ceremony for seven new ministers at the State House, Abuja, Tinubu emphasized the government’s progress in stabilizing the economy despite challenging conditions.

READ MORE: Ibadan Man On Why He Used 76 Women For Ritual, Ate Others

“For us, it was a challenge when the nation was servicing its debt with 97 percent of its revenue. It was nothing but the edge of the cliff,” Tinubu said.

“But today, I can report to you that we have brought that down to 65 percent, and we have never defaulted in meeting all obligations, both foreign and domestic.”

His remarks follow Afreximbank’s recent projection that Nigeria’s debt service-to-revenue ratio could reach 110.4 percent by 2024.

Afreximbank’s 2024 Nigeria Country Brief warned of a troubling upward trend in debt servicing, which could see the ratio surge from 33.8 percent in 2017 to a projected 110.4 percent next year.

However, with continued reforms, the report suggested the ratio might decline to 62.6 percent by 2025.

In the first nine months of 2023, debt servicing consumed 66.9 percent (₦5.79 trillion) of Nigeria’s total revenue, a slight improvement from 99.3 percent (₦4.23 trillion) during the same period in 2022.

Tinubu, while optimistic about economic recovery, acknowledged the ongoing struggles faced by Nigerians due to a sharp increase in the cost of living triggered by recent economic reforms.

“We have taken the bull by the horns,” the President asserted. “We have stopped the scavengers. We will fully put an end to the profiteers and smugglers of our resources across the country. We are not shirking our responsibility; we are confronting it head-on.”

He further expressed confidence that Nigeria was on a “good path” toward recovery, emphasizing that the government remains committed to re-engineering the economy.

He cited the introduction of a new minimum wage as one measure aimed at mitigating rising living costs.

Monday’s ceremony also saw the swearing-in of seven new ministers, part of a recent cabinet reshuffle.

In two batches, ministers including Idi Maiha (Livestock Development) and Dr Jumoke Oduwole (Industry, Trade, and Investment) took their oaths.

The reshuffle, which saw 10 ministers reassigned, five discharged, and seven new appointments confirmed by the Senate, reflects Tinubu’s stated commitment to reshaping his cabinet to meet Nigeria’s evolving challenges.

As the administration continues to implement reforms, President Tinubu emphasized a long-term vision for economic sustainability, not only for the current generation but also for future ones.

“Despite the challenges, we must undertake the job of re-engineering and retooling this country’s economic path,” he said.

 

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Edo Deputy Gov, Omobayo Ordered To Court Over Refusal To Vacate Office

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A Federal High Court in Abuja has mandated that Godwins Omobayo, the Deputy Governor of Edo State, appear in person on November 26, 2024, following allegations of contempt of court stemming from his failure to comply with a previous ruling.

Justice James Omotosho issued the order on Monday, asserting that Omobayo, described as the alleged contemnor, must be afforded a fair hearing in accordance with Section 36 of the 1999 Constitution (as amended).

READ MORE: Bobrisky Flees Nigeria Amid Legal Turmoil

The court action was initiated by Philip Shaibu, who was reinstated as Deputy Governor after the court invalidated his impeachment by the Edo State House of Assembly on July 17.

Justice Omotosho ruled that the impeachment proceedings lacked due process and that the grounds for Shaibu’s removal did not constitute gross misconduct.

Shaibu’s suit targets several parties, including the Inspector-General of Police and the Edo State House of Assembly, seeking enforcement of the court’s judgment and demanding that Omobayo vacate the deputy governorship position.

Omobayo assumed office on April 8, following Shaibu’s impeachment.

During the court proceedings, it was revealed that Omobayo was served legal documents but failed to appear.

In response, Shaibu’s attorney, Ayotunde Ogunleye, SAN, urged the court to compel Omobayo’s attendance, citing the need to uphold judicial authority.

In delivering his ruling, Justice Omotosho adjourned the case until November 26 for further proceedings.

He directed that hearing notices be served to the 1st, 2nd, 3rd, and 5th defendants involved in the charge.

“In the interest of justice and to provide the alleged contemnor with an opportunity to defend himself and receive a fair hearing, in accordance with Section 36 of the 1999 Constitution (as amended), I hereby order that the alleged contemnor appear in court in person on November 26, 2024,” the judge stated.

It is noteworthy that the current tenure of the state government is set to conclude on November 12.

 

 

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Presidency Fires Back At Atiku

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On the heels of the salvo fired by the presidential candidate of the Peoples Democratic Party (PDP) in Nigeria’s 2023 elections, Atiku Abubakar, signalling what might be a long-drawn hot exchange of words, the Presidency has made what it called ‘our initial response to Alhaji Atiku Abubakar’.

This was contained in a statement put out on micro-blogging site, X, Sunday by the Special Adviser to the President (Information and Strategy), Bayo Onanuga.

The former vice president had detailed the shortcomings of the President Bola Ahmed Tinubu administration, making efforts to detail what he would have done differently, that would have better results for Nigeria.

In a swift response, the Presidency countered that Atiku and his ideas “were rejected by Nigerians in the 2023 poll”, based on his antecedents.

The statement reads, “OUR INITIAL RESPONSE TO ALHAJI ATIKU ABUBAKAR

“We have just read a statement credited to former vice president Alhaji Atiku Abubakar, in which he tried to discredit  President Bola Tinubu’s economic reform programmes while pushing his untested agenda as a better alternative.

“First, Alhaji Atiku’s ideas, which lacked details,  were rejected by Nigerians in the 2023 poll.

“If he had won the election, we believe he would have plunged Nigeria into a worse situation or run a regime of cronyism.

“Abubakar lost the election partly because he vowed to sell the NNPC and other assets to his friends.  Nigerians have not forgotten this, nor would they be comforted by Atiku’s antecedents when he ran the economy in the first term of President Olusegun Obasanjo’s government between 1999 and 2003.

“As vice president, Atiku supervised a questionable privatisation programme. He and his boss demonstrated a lack of faith in our educational system, and both went to establish their universities while they allowed ours to flounder.

“Talk is cheap. It is easy to pontificate and deride a rival’s programmes even when there are irrefutable indices that the economic reforms yield positives despite the temporary difficulties.

“Despite the futile attempt to hoodwink Nigerians again in his statement, it is gratifying that the former Vice President could not repudiate the economic reforms pursued by the Tinubu administration because they are the right things to do.

“His advocacy for a gradualist approach only showed that he was not in tune with the enormity of problems inherited by President Tinubu.

“It is so easy to paint a flowery to-do list. It is expected of an election loser.

“President Tinubu met a country facing several grave challenges. Fuel subsidies were siphoning away enormous resources we could ill afford, and there was criminal arbitrage in the forex market.

“No leader worth his name will allow these two economic disorders to persist without moving to end them surgically.

“While advocating for gradual reforms may sound appealing, Tinubu took measures that should have been taken decades ago by Alhaji Abubakar and his boss when they had the opportunity.

“Alhaji Abubakar calls for empathy and a human face to reforms. We have no problem with this as it resonates well with our administration’s focus. President Tinubu has consistently emphasised the need for compassion and protection of the most vulnerable.

“The administration has prioritised social safety nets and targeted support for those affected by recent economic transitions.”

 

 

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