KICNEWS

Category: Politics

  • What Nigerian politics has done to women – Akpoti-Uduaghan

    What Nigerian politics has done to women – Akpoti-Uduaghan

    What Nigerian politics has done to women – Akpoti-Uduaghan

    What Nigerian politics has done to women

    Senator Natasha Akpoti-Uduaghan, (PDP, Kogi Central), has said politics in Nigeria has robbed women of their femininity.

     

    She spoke during the ECOWAS Female Parliament Association spotlight initiative titled: “Rethinking Women’s Proportional Representation in Governance: Case Study of Nigeria”, in Abuja, yesterday.

     

    Sen Akpoti-Uduaghan used the opportunity to highlight the high cost of politics in Africa’s most populous nation which she said puts women at a disadvantage because most men are more financially stable than women in Nigeria.

     

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    She said, “Politics is extremely dangerous in Nigeria. In Nigeria, you can’t be gentle as a woman.

     

    “ I honestly wish politics in Nigeria would not be so tough because when a woman who is born to nurture becomes too tough, it’s not good.

     

    “I am so tough now that I rarely cry except maybe something totally touches my heart that I pushed myself.

     

    “That is what violence teaches you, so I have to constantly tell myself, do not let your experiences change you because I don’t want to be like those who attacked me.”

     

    The federal lawmaker emphasised the financial strain playing politics in Nigeria places on politicians noting that running for office in Nigeria is a very expensive venture.

     

    She, however noted that as a public spirited individual who cares about the welfare of the greater number of people in soceity, she has not allowed these challenges dissuade her from running for office.

     

    While going down memory lane, the Senator narrated her intentional move to join politics in 2018, the challenges she faced during elections, and her determination to serve her community.

     

    Sen Akpoti-Uduaghan stressed the need for a less financially burdensome electoral process and expressed her interest in studying the independent candidature system in Liberia as a potential solution.

     

    She also recalled the personal sacrifices she made for her political career, including surviving accidents and enduring physical hardships while running for office.

     

    In her address at the event, she addressed the challenges women face in Nigerian politics, including the loss of dignity and the cultural barriers they encounter.

     

    She urged male leaders to be mindful of their words when addressing women in politics, adding that they should rather support and encourage women in their political endeavors.

     

    Akpoti-Uduaghan further advised women to carefully craft their political agendas and be mindful of overpromising during their campaigns, sharing her own experiences and the toll it took on her health.

     

    She also mentioned her collaboration with Senator Ireti Kingibe to present a bill for gender equity, focusing on 45 percent women inclusion.

     

     

  • Nollywood actress, Dakore denies rumoured affair with Senate President, Akpabio Dakore

    Nollywood actress, Dakore denies rumoured affair with Senate President, Akpabio Dakore

    Nollywood actress, Dakore denies rumoured affair with Senate President, Akpabio

     

    Popular Nigerian actress, Dakore Egbuson-Akande has denied reports linking her to a romantic relationship with Nigerian Senate President, Godswill Akpabio and threatened to sue peddlers of such news.

     

    Controversial blogger Gistlover, recently mentioned Dakore among a list of female celebrities that are alleged to be ‘sidechicks’ of the Senate President, including Nancy Isime, Hilda Baci, and Ini Edo.

     

    However, the mother of two has now made posts on her Instagram page to refute the claim by Gistlover.

     

    She wrote: “I saw text messages and calls this morning, alerting me to a very wicked lie from the pit of hell.

     

    “I must say that I’m very disappointed, shocked and appalled. And I want to categorically state that I have never met the Senate president in my life.

     

    “I have not had any cause to be in the same room with him, not to talk of being his side chick. I’m happily married with two beautiful children.

     

    “So for a jobless, wicked blogger to decide to put my name amongst women who have been with this man is wicked and unfounded.

     

    “It is a lie and I am ready for any legal action because, at this point, you have messed with the wrong person.

     

    “ I keep to myself, mind my business, I drink water and I do my work. So for someone to want to tarnish my hard-earned name and image for some clicks, no way.

     

    “I want to put it out there. Anyone who can provide video or audio evidence that I have been with this man, I would give you N5 million right now.”

     

    This was followed by a post on Instagram, through her lawyer, Olisa Agbakoba Legal, warning the media outlet to delete the libellous allegation against her.

     

    The law firm has released a Cease and Desist’ letter, calling on Gistlover to delete the post and refrain from sharing any slanderous remarks about Dakore to avoid legal action.

     

     

  • FG to remove N2trn from Access, UBA, Zenith, other banks’ accounts, gives reason

    FG to remove N2trn from Access, UBA, Zenith, other banks’ accounts, gives reason

    FG to remove N2trn from Access, UBA, Zenith, other banks’ accounts, gives reason

    The Federal Government of Nigeria is looking to increase its non-oil revenue and has its eye set on Nigerian banks

    The government is proposing a one-off tax payment on foreign exchange (forex) gains by banks, which is over N20 trillion

    Banks that fail to comply with the directive and have not remitted the assessed forex gains face a penalty of an additional 10%

    Journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

     

    The administration of President Bola Ahmed Tinubu has proposed an amendment to the 2023 Finance Act to tax banks 50% of profit realised from foreign exchange revaluation in 2023.

     

    If approved by the National Assembly, the tax could potentially fetch the Nigerian government not less than N2 trillion.

     

    Nigerian government to raise funds from forex gains

    FG to raise funds from banks forex gains Photo credit: Krisztian Bocs Source: Getty Images

    Punch reports that the tax will be debited from banks’ forex windfall in 2023 to fund part of the 2024 supplementary budget.

     

    According to the Nation report, the levy on forex revaluation gains, otherwise known as a windfall, will finance “renewed hope” infrastructure projects, education and healthcare.

     

    Why is the government interested in banks’ forex?

    Following the decision of the Central Bank of Nigeria to adopt a more liberal foreign exchange management system in 2023, the naira depreciated from N461.1/US$ in December 2022 to N951.79/US$ (Nigerian Autonomous Foreign Exchange Rate Fixing) in December 2023.

     

    This movement helped Nigerian banks make estimated forex revaluation gains at about N4 trillion in 2023.

     

    Some of the banks reported forex gains

    GTCO: N441.79 billion

    Zenith Bank: N228.98 billion

    UBA: N26.58 billion

    FCMB Group: N83.96 billion

    Fidelity Bank: N44.09 billion

    Access Holdings: N17.25 billion

    FBN Holdings: N8.77 billion

    The banks could make so much due to their foreign assets.

     

    Expert react

    Regarding the development, Wale Ajayi, PMG Partner and Head, Tax, Regulatory and People, described the federal government decision as surprising and expected legal disputes.

     

    He said:

    “The impact of this retroactive application may raise constitutional concerns as it may violate the principle of legitimate expectations.

    “It will, therefore, not be surprising if the implementation leads to legal disputes and challenges.

    “Retroactive tax laws can discourage investment as potential investors may perceive the Nigerian tax system as unpredictable.”

    CBN shows $9bn drop in forex demand

    Legit.ng earlier reported that the demand for foreign exchange by individuals and companies engaged in importation and other forex-related activities decreased by 42% year-on-year.

     

    The total sectoral utilisation of foreign exchange indicated that 19 sectors and services received $21.12 billion in forex allocations in 2023.

     

    This represented a 41.9% decline, or $8.87 billion, compared to the $29.98 billion allocated in 2022.

     

  • Some NNPC Personnel, Oil Traders Own Blending Plant In Malta — Dangote

    Some NNPC Personnel, Oil Traders Own Blending Plant In Malta — Dangote

    Some NNPC Personnel, Oil Traders Own Blending Plant In Malta — Dangote

    He also said the quality of products produced at the Dangote Refinery is better than the ones being imported by marketers.

    Alhaji Aliko Dangote at Dangote Refinery on Saturday, July 20, 2024

    Africa’s richest man Aliko Dangote says some staff members of the Nigerian National Petroleum Company (NNPC) Limited and oil traders operate a blending plant in Malta, an island country in Europe.

     

    Dangote stated this over the weekend when he received the leadership of the House led by Speaker Tajudeen Abbas and his deputy Benjamin Kalu.

     

    He said the quality of products produced at the Dangote Refinery was far better quality than the ones imported by marketers.

     

    He said the bad fuel imported into the country has damaged many cars. “I still stand by what I said. Go to filling stations, you can check the quality. That is the only way,” he said.

     

    “We know where they blend these things. Some of the NNPC people and some traders have opened a blending plant somewhere off Malta. We all know these areas. We know what they are doing,” Dangote said.

     

     

    A Cocktail Of Issues

    Nigeria, Africa’s most populous nation, faces energy challenges, with all its state-owned refineries non-operational. The country is heavily reliant on imported refined petroleum products, with the state-run NNPC being the major importer of the essential commodities.

     

    Fuel queues are commonplace in the country. Prices of petrol tripled since the removal of subsidy in May 2023, compounding the woes of the citizens who power their vehicles, and generating sets with petrol, no thanks to decades-long epileptic electricity supply.

     

    Last December, Dangote, one of Africa’s leading industrialists, commenced operations at his $20bn facility sited in Lagos with 350,000 barrels a day. The refinery hopes to achieve its full capacity of 650,000 barrels per day by the end of the year. The refinery has begun the supply of diesel and aviation fuel to marketers in the country while petrol supply is expected to commence in August.

     

    Regulatory authorities had questioned the quality of petroleum products produced at the refinery located at the Lekki Free Trade Zone.

     

    During his meeting with federal lawmakers, the billionaire businessman rejected claims that petroleum products from his refinery are substandard. He called on the green chamber to investigate the quality of diesel and petrol at filling stations across the country.

     

     

    ‘Monopoly Claim Untrue’

    Dangote also said the claim in some quarters that his group of companies enjoy monopoly is not true.

     

    “If you look at all our operations at Dangote (Group), we add value; we take local raw materials and turn them into products, and we sell.

     

    “We have never consciously or unconsciously stopped anybody from doing the same business that we are doing.

     

    “When we first came into cement production, it was only Lafarge that was operating here in Nigeria…Nobody ever called Lafarge a monopoly,” he said, adding that labelling his group of companies as monopolistic is disheartening.

     

    “Monopoly is when you stop people, you block them through legal means. No, it is a level playing field whereby whatever Dangote was given in cement, for example, other people were given because some of them even got more than us.”

     

     

  • JUST IN: Reps probe missing crude, dirty fuel

    JUST IN: Reps probe missing crude, dirty fuel

     

    JUST IN: Reps probe missing crude, dirty fuel.

     

    The Joint Committee of the House of Representatives carrying out a forensic investigation into the challenges affecting the downstream and midstream petroleum sectors has commenced a probe into allegations of importation of contaminated Premium Motor Spirit, also known as fuel, into the country.

     

    The committee’s Chairman, Ikenga Ugochinyere disclosed this at the formal inauguration of the panel in Abuja on Monday.

     

    The investigative panel will also look into allegations of the non-availability of crude oil to domestic refineries, disruption in distribution and favouritism in the pro forma invoice regime, among others.

    He noted that the panel would also probe the possible influx of contaminated products into the country and “the allegation of non-domestication of profits realised from crude marketing sales in local banks, abuse of the PFI regime and importation of products already being produced in Nigeria.”

     

    Meanwhile, the panel is set to visit petrol stations nationwide to take samples of their product for laboratory tests to ascertain their quality.

    The mandate of the joint committee is sequel to the adoption of a motion on July 9, 2024, on the “Urgent need to carry out a legislative forensic investigation into the challenges affecting the downstream and midstream petroleum sectors in Nigeria and other related matters to find out a lasting solution to all challenges,” affecting the petroleum industry.

     

  • Obi decries Nigeria’s economic decline, calls for urgent action

    Obi decries Nigeria’s economic decline, calls for urgent action

    Obi decries Nigeria’s economic decline, calls for urgent action

     

    The 2023 Labour Party Presidential Candidate, Peter Obi, has expressed deep concern over the country’s economic trajectory since 2015.

     

    In a statement on Monday via X, Obi highlighted the contrast between Nigeria’s economic performance in the early years of its return to democracy and its current state.

     

    “When Nigeria returned to democratic governance in 1999, it maintained an average GDP growth of about 6.72% for 16 years from 1999-2014,” Obi wrote.

     

    However, he pointed out that this growth was not sustained, with GDP growth collapsing to 2.79% in 2015 and the economy slipping into recession in 2016.

     

    He said, “In 2014, just before the inception of a new administration a year later, Nigeria had the biggest economy in Africa with a Gross Domestic Product of $568.5 billion and a GDP Per Capita of about $3,200.”

     

    In contrast, he noted that by 2023, Nigeria had fallen to the 4th largest economy in Africa, with a GDP of $375 billion and a per capita of $1700.

     

    Accordingly, the situation worsened in 2024, with the GDP further declining to an estimated $253 billion and per capita dropping to $1087.

     

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    This is according to data obtained from StatiSense, an AI data company specialising in financial report analysis, bank statement evaluation, and AI chatbot services.

     

    Subsequently, the former governor expressed alarm at the current state of affairs, saying, “Today, poverty is pervasive and on the increase. Unemployment is rising. Food inflation has skyrocketed to over 43%. Foreign and local investors are losing faith in the future growth of our economy and are leaving in large numbers. Businesses are shutting down.”

     

    Obi called for urgent action to prevent further economic collapse and move it from consumption to production as he criticised the current leadership.

     

    Obi said, “Urgent actions need to be taken to salvage the nation from further economic collapse and move it from consumption to production.

     

    “However, instead of concerning ourselves with all these challenges threatening our collective existence and finding ways to recreate an inclusive and sustainable economy, pull millions of people out of poverty, and return our nearly 20 million out-of-school children to schools, our leaders are more concerned with funding their selfish luxuries and individual lavishness, while throwing blames at others who are only committed to solving the nation’s problems.

     

    “In the face of all these challenges, we the leaders should commit to inclusive and sustainable growth to end the hardship which has continued to burden our fellow Nigerians. Only through that can we achieve a peaceful and secure society.”

  • ABUTH resident doctors begin five-day warning strike.

    ABUTH resident doctors begin five-day warning strike.

    ABUTH resident doctors begin five-day warning strike.

     

    The National Association of Resident Doctors, Ahmadu Bello University Teaching Hospital, has commenced a five-day warning strike over the non-payment of salaries owed to some members.

     

    The branch association’s Vice President, Dr. Ashiru Mikail made this known during a news conference on Monday in Zaria, Kaduna State.

     

    Mikail said that the association on July 15, 2024, gave a one-week ultimatum to the hospital management to address their demands or be faced with a warning strike.

     

    He, however, noted that the request had expired on Sunday, July 21, 2024, hence the commencement of the warning strike.

     

    He said the association would reconvene to review its strategy after the warning strike to determine the next line of action, adding that it rejects percentage salary payments for members on the GIFMIS platform, and demands repayment of parts of their withheld salaries.

     

    According to him, in June 2024, the salaries of affected members were slashed by about 25 to 27 per cent representing N58,000 to N60,000.

     

    He explained that the doctors who were paid in percentage in June were being owed salary arrears for 2021.

     

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    Mikail stated, “Despite the harsh economic challenges in the country, no reasonable reasons for the deductions were advanced to the association by the management.

     

    “The management proposed to pay N2 million to offset the arrears of accoutrement allowance per month from the overhead cost.

     

    “This amount can only be paid N5,000 per member monthly as against the N100,000 owed to each member.”

     

    “More than 60 per cent of the Federal Tertiary Health institutions in the North West zone have commenced payments of the arrears of accoutrement allowance but ABUTH has not, but rather proposed to pay N5,000 instead of N25,000,” he lamented.

     

    Mikail said the association demands the implementation of the 25 per cent CONMESS upward review of the salaries of members who were on the GIFMIS platform, among other demands.

     

  • My friend who warned against investing in Nigeria now taunting me – Dangote

    My friend who warned against investing in Nigeria now taunting me – Dangote

    The President of Dangote Group, Aliko Dangote, has disclosed that his friend who earlier warned him against investing in Nigeria is now taunting him for ignoring his advice.

     

    Dangote disclosed this in an interview with PREMIUM TIMES on Sunday just as reports quoted the Nigerian Midstream and Downstream Petroleum Regulatory Authority as claiming that diesel from Dangote Refinery is of inferior quality.

     

    “Four years ago, one of my very wealthy friends began to invest his money abroad. I disagreed with him and urged him to rethink his actions in the interest of his country.

     

    “He blamed his action on policy inconsistencies and shenanigans of interest groups.

     

    “That friend has been taunting me in the past few days, saying he warned me and that he has been proven right,” Dangote was quoted to have said.

     

    He said he invested in the refinery to help solve a major issue in the country, wondering why some people were working against him.

     

    He added, “As you probably know, I am 67 years old. In less than three years, I will be 70. I need very little to live the rest of my life. I can’t take the refinery or any other property or asset to my grave. Everything I do is in the interest of my country.’

     

    “We have been facing a fuel crisis since the 70s. This refinery can help in resolving the problem but it does appear some people are uncomfortable that I am in the picture. So I am ready to let go, let the NNPC buy me out, run the refinery.

     

    “This refinery can help in resolving the problem but it does appear some people are uncomfortable that I am in the picture. So I am ready to let go, let the NNPC buy me out, and run the refinery. At least the country will have high-quality products and create jobs.”

     

    Related News

    The 650,000 barrel-per-day refinery, which came to life last year after a decade of prolonged construction, cost $19 billion, more than double the initial estimate, promising to help wean Africa’s biggest oil producer off its reliance on fuel from overseas and save up 30 per cent of the total foreign exchange spent on importing goods.

     

    On Sunday, the Federal Government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority, said it was expecting fresh reports to confirm the real sulphur content of the diesel produced by the Dangote refinery as the company debunked claims of inferior fuel production.

     

    The NMDPRA spokesman, George Ene-Ita, in an interview with The PUNCH, said the agency had done its job and would not engage in a media fight with anybody over the claims made by the NMDPRA Chief Executive, Farouk Ahmed, that Dangote’s diesel has more sulphur content than imported one.

     

    According to Ene-Ita, the authority has about 15 engineers and scientists embedded in the Dangote refinery, whose fresh report about the refinery’s sulphur content will be out on Monday (today).

     

    Africa’s richest man had earlier narrated how a cabal was blocking his moves to import crude and how it has been difficult to get products, slowing down operations.

     

    But last week, the Nigerian Midstream and Downstream Petroleum Regulatory Authority said the Nigerian government was yet to license the Dangote refinery to begin operations in the country.

     

    The Chief Executive Officer, NMDPRA, Farouk Ahmed, disclosed this while speaking with journalists at the state House on Thursday, July 18.

     

    According to Ahmed, the claims of ongoing efforts to scuttle the operations of Dangote refinery due to lack of supply of crude oil by International Oil Companies were not true, adding that the refinery was still at the pre-commissioning stage and has not been licensed yet.

     

    Ahmed added that the diesel product of Dangote was below international standard, a claim which the businessman had refuted.

  • Sudan conflict: Nigerian, South African ministers seek immediate ceasefire

    Sudan conflict: Nigerian, South African ministers seek immediate ceasefire

    Sudan conflict: Nigerian, South African ministers seek immediate ceasefire.

     

    The Minister of Foreign Affairs, Yusuf Tuggar, and his South African counterpart, Ronald Lamola, have called for an immediate ceasefire in the ongoing conflict in Sudan.

     

    They lamented that the conflict had led to the death of innocent citizens, worsened the humanitarian crisis, displaced millions of people and the destruction of critical infrastructure.

     

    According to a statement on Saturday by Tuggar’s Special Assistant on Media and Communications Strategy, Alkasim Abdulkadir, the two ministers spoke at a meeting on the sidelines of the African Union Executive Council in Accra.

     

    They called for the commencement of a process to expedite access to humanitarian assistance in the country.

    The power struggle between the Sudanese Armed Forces and the Rapid Support Forces erupted into a large-scale conflict in April 2023, which has continued to rage.

     

    The ministers said, “On July 19, 2024, Ambassador Yusuf Maitama Tuggar, Minister of Foreign Affairs of the Federal Republic of Nigeria and Mr. Ronald Lamola, the Minister of International Relations and Cooperation in South Africa. The Ministers reiterated a call for an immediate ceasefire, an end to the conflict and the commencement of a process to expedite access to humanitarian assistance.

     

    “To this end, both nations call on the international community to take urgent concrete and practical steps that will facilitate a peaceful resolution of the conflict in Sudan in an inclusive manner. Tuggar and Lamola pledged to redouble their efforts to deepen the collaborations between their countries.”

     

    The statement added, “The two Ministers reaffirmed the existing strong historical bilateral relations and bonds of friendship and solidarity between South Africa and Nigeria and committed to redouble their efforts to expand and deepen cooperation between the two countries in various sectors. In this regard, the Ministers undertook to finalise preparations for the upcoming session of the Bi-National Commission, which is scheduled to take place in South Africa.

     

    “The Ministers further exchanged views on regional and continental matters including peace and security on the African continent. In particular, the two countries expressed grave concern at the ongoing conflict in Sudan which has resulted in the loss of innocent civilian lives, exacerbated the humanitarian crisis, displaced millions of people, affecting women and children, and led to the destruction of critical infrastructure.”

  • JUST IN: House of Reps leadership visits Dangote refinery

    JUST IN: House of Reps leadership visits Dangote refinery

    JUST IN: House of Reps leadership visits Dangote refinery.

    The leadership of the House of Representatives, led by the Speaker, Tajudeen Abbas, has visited the $ 20 billion Dangote Petroleum refinery in Lagos State.

     

    The lawmakers arrived at the refinery located in the Lekki Free Trade Zone in Lagos around 11 am on Saturday and were received by the President of the Dangote Group, Aliko Dangote, and top executives of the company.

     

    The lawmakers are expected to take a tour of the 650,000 barrels per day refinery during the visit and have a conversation about the plan to start the supply of petrol next month.

     

    The visit marks the second time federal lawmakers will visit the refinery this year following the visit of the Senate leadership, led by Senate President Godswill Akpaio, to the facility in June.

     

    The lawmaker’s visit comes days after the Chief Executive of the Nigerian Midstream and Downstream Petroleum Authority, Farouk Ahmed, claimed that the diesel produced by Dangote refinery contains a high sulphur content of about 1,000 parts per million.

     

    Ahmed also stated that the Federal Government would not stop the importation of petroleum products, saying Nigeria cannot depend on one refinery to feed the nation.

     

    He revealed that the refinery, which has been selling diesel and aviation fuel in Nigeria for months, has not been licensed, stating that it is still at the pre-commissioning stage.

     

    The claim by some media houses that there were steps to scuttle the Dangote refinery is not so. The Dangote refinery is still in the pre-commissioning stage. It has not been licensed yet; we haven’t licensed them yet. They are still in the pre-commissioning. I think they have about 45 per cent completion,” he declared.

     

    The NMDPRA boss warned that Nigeria cannot rely heavily on the Dangote refinery for its fuel supply.

     

    According to him, the refinery had requested the regulator to stop giving import licences to other marketers so as to be the only fuel supplier in Nigeria.

    Nigeria.

     

    “We cannot rely heavily on one refinery to feed the nation, because Dangote is requesting that we should suspend or stop importation of all petroleum products, especially AGO and direct all marketers to the refinery; that is not good for the nation in terms of energy security. And that is not good for the market, because of monopoly,” he stressed.

     

    Speaking about quality, he said, “So, in terms of quality, currently, the AGO quality in terms of sulphur is the lowest as far as the West African requirement of 50 ppm is concerned

     

    Dangote refinery and some modular refineries, like Waltersmith refinery and Aradel refinery, are producing between 650 to 1,200ppm. So, in terms of quality, their product is much more inferior to the imported quality,” he alleged.