NEWS
Niger Delta Youth Demand Removal Of NNPC CEO, Mele Kyari
Approximately 26 youth associations from the Niger Delta, collectively known as the Niger Delta Coalition, organized a peaceful protest in Warri, Delta State on Wednesday.
They demanded the immediate removal of Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, citing alleged misconduct.
Amidst chants of solidarity, hundreds of coalition members gathered at the NNPCL building entrance around noon, displaying placards with messages such as ‘Protect our Nation, President Tinubu sack Mele Kyari now.’ and others.
Situated on the Warri/Sapele Roads, the NNPC building accommodates both the Nigerian Upstream Petroleum Regulatory Commission and the Nigerian Midstream and Downstream Petroleum Regulatory Authority.
During the protest, demonstrators handed a statement outlining their concerns to journalists present at the event.
The statement, collectively signed by Mr. Oris Bakpa, National Coordinator of Niger Delta Youth Alliance; Bridget Oghenekohwo, National Chairwoman of Niger Delta Women for Change; Elvis Abebiyein, President of Niger Delta Youth Empowerment Network; and Peter Okprgboro, Regional Coordinator of South-South United Youth Association, was presented during the protest.
Mr. Bakpa, representing the Coalition, urged Tinubu to promptly dismiss Kyari from his position and initiate a thorough investigation into his conduct while addressing journalists at the event.
Speaking to reporters, Bakpa explained that the call for the removal of the NNPCL boss was based on allegations of financial impropriety, misuse of authority, lack of vision, poor performance, and autocratic conduct, among other concerns.
Bakpa expressed regret over the NNPCL’s failure to revive inactive refineries, leading the nation to depend on imported petroleum products and adversely impacting the economy.
According to Bakpa, the cascading impact of the excessive dependence on the oil industry is evident in the nation’s inflation rates, soaring to a substantial 25.80 percent as of August 2023.
According to him, “The implication of such high inflation figures are far-reaching, encompassing elevated cost of living, discouraging business environment and a palpable instability in the nation’s overall economic well-being”.
Bakpa expressed concern, pointing out that there had been no upturn in crude oil production and remittances to the federation account during Kyari’s leadership.
He said “Nigeria is blessed with abundant oil resources. Nevertheless, a glaring deficiency within the NNPCL is the presence of dormant refineries scattered across the country.
“Regrettably, despite the staggering allocation of N100 billion for refinery rehabilitation in 2022, these facilities, with a combined production capacity of 445, 000 bpd have failed to produce any refined products for the past several years.
“Furthermore, the alleged irregularities in the awarding of oil production contracts have cast a shadow of opacity over remittance to the Federation Account giving rise to grave concerns about transparency and accountability in these financial transactions.
“As a collective of concerned and dedicated Niger Delta people, we vow to uphold the law and employ peaceful demonstrations as a means to research President Tinubu to remove Kyari from his position and launch an investigation into the leadership and management of the NNPCL with a view to addressing the urgent issues of the refinery rehabilitation”.
NEWS
N1.7trn Loan: Atiku Blames NASS For Worsening Nigeria’s Debt Burden
Former Vice President, Atiku Abubakar has criticized the federal government’s plan to secure an additional N1.7 trillion loan through Eurobonds to cover a shortfall in the 2024 budget, describing the borrowing as unsustainable and harmful to Nigeria’s economy.
In a statement shared on Thursday via his X (formerly Twitter) handle, Atiku accused the Bola Tinubu-led administration of burdening Nigerians with debt while failing to provide clear answers about the country’s fiscal challenges.
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He also faulted the National Assembly for enabling what he called a “voracious appetite” for loans.
The former Peoples Democratic Party (PDP) presidential candidate expressed alarm over a recent World Bank report ranking Nigeria as the third most indebted country to the International Development Association (IDA), calling the development troubling.
“The recent report released by the World Bank, showing Nigeria as the third most indebted country to the International Development Association (IDA), is very concerning,” Atiku stated.
He raised further concerns about the government’s decision to benchmark the proposed loan at an exchange rate of 1 USD to N800, despite the Central Bank of Nigeria’s official rate being over N1,600.
“What makes this particular loan proposal even more concerning is that it is benchmarked at the exchange rate of 1 USD to N800, whereas the current exchange rate from the Central Bank of Nigeria stands at over N1,600 to 1 USD,” he said.
Atiku questioned the need for additional borrowing, given the government’s earlier claims of record-high revenue collection.
“In July this year, Tinubu boasted that the FIRS and Customs under his watch had collected all-time high revenues to finance the budget. Why are they still borrowing?” he said
He accused the government of a lack of transparency, describing the borrowing spree as detrimental to Nigerians already struggling under economic hardship.
“There is something that they are not telling Nigerians, even as they are being crushed by a combination of their failed trial-and-error policies and loan rackets.”
Atiku also referenced a report by BudgIT, a budget monitoring group, which criticized the 2024 budget for its inefficiencies.
He alleged that corruption, rather than infrastructure or development needs, was driving the government’s borrowing decisions.
“These loans are powered by corruption and not for infrastructure and development needs. This voracious appetite for humongous loans is deeply concerning,” he said.
Reflecting on Nigeria’s financial history, Atiku lamented the return to significant foreign indebtedness just years after former President Olusegun Obasanjo’s administration cleared the country’s debt.
“It is agonizing to see that just a few years after the Obasanjo administration took us out of foreign indebtedness, we are today back at the top spot in the same conundrum,” he stated.
He called for a more cautious approach to borrowing, urging the government to prioritize fiscal responsibility and transparency to avoid worsening Nigeria’s economic challenges.
International News
ICC Issues Arrest Warrants For Israeli Prime Minister Netanyahu, Others
The International Criminal Court (ICC) has taken a historic step, issuing arrest warrants for Israeli Prime Minister Benjamin Netanyahu and former Defense Minister Yoav Gallant.
The charges include crimes against humanity and war crimes allegedly committed during Israel’s recent assault on Gaza.
In a detailed statement, the ICC accused the Israeli leaders of “intentionally and knowingly depriving the civilian population in Gaza of objects indispensable to their survival, including food, water, and medicine and medical supplies, as well as fuel and electricity.”
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The ICC’s move marks a significant escalation in international scrutiny of the Israeli-Palestinian conflict. Netanyahu and Gallant are alleged to have orchestrated policies that caused severe harm to the civilian population in Gaza, leading to widespread condemnation from human rights organizations.
Alongside the charges against Israeli officials, the ICC also issued an arrest warrant for Hamas military commander Mohammed Deif. Deif has long been a central figure in Hamas’s military operations. Israel’s military claims to have killed him in a July airstrike, although this has not been independently verified.
The warrants highlight growing calls for accountability amid the ongoing conflict in the region. The ICC’s actions are likely to provoke heated debate and may complicate diplomatic efforts aimed at resolving the crisis.
With the warrants issued, global attention now turns to how the international community will respond and whether any practical steps will be taken to enforce them.
NEWS
Edo State Governor Sets Up Committee To Recover Missing Gov’t Vehicles
Governor Monday Okpebholo of Edo State has inaugurated a 12-member committee tasked with recovering government vehicles reportedly in private hands.
The committee, led by Kelly Okungbowa, has been given a two-week mandate to retrieve the vehicles and ensure their return to the state government.
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Speaking during the inauguration ceremony in Benin City, Governor Okpebholo emphasized the importance of accountability in the management of public resources.
He urged the committee to carry out its assignment thoroughly and within the bounds of the law.
In his response, Okungbowa expressed gratitude to the governor for entrusting the team with the assignment, vowing to deliver results within the stipulated timeframe.
“A lot of vehicles used by the past administration are missing, as those in custody of the vehicles have refused to return them,” Okungbowa said.
“The governor deemed it fit to inaugurate us today with a mandate to recover all government vehicles in private hands.”
The committee, which includes representatives from Edo’s three senatorial districts, is set to investigate and recover the vehicles based on credible intelligence already at their disposal.
“We already have vital information regarding some persons still holding government vehicles,” Okungbowa stated. “We will do the job according to the law, and both the government and the people will be satisfied with the outcome.”
He also called on members of the public to assist the committee by providing information about any government vehicles that may still be in private possession.
“We want to appeal to members of the public who might be aware of anyone still keeping government vehicles in their houses to please inform us to enable the committee to recover such for the Edo State Government,” Okungbowa said.
The committee’s vice chairman, Rt. Hon. Victor Edoror, a former Speaker of the Edo State House of Assembly, will work alongside other members to ensure the success of the initiative. The public can reach the committee at 08110165121.