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Sell Eight Of The Presidential Jets, Cancel N27bn National Assembly Renovation Fund —- Atiku To FG

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Former Vice-President, Atiku Abubakar, has faulted the latest review of the 2020 budget by the Federal Government, saying it shows that the regime has lost touch with current global economic realities.

Rather than reviewing the budget, Atiku advised the FG to sell eight or nine of the presidential jets and cancel the N27bn earmarked for the renovation of the National Assembly complex.

Atiku said this in a statement in Abuja, on Thursday. He expressed disappointment that despite the crash of oil prices in the international market and the nation’s inability to expand its revenue base, the regime only slashed the budget by a “mere 0.6 per cent.”

The former Vice President explained that significant cuts in funds budgeted for presidential feeding and transport as well as non-essential subheads will go a long way in ensuring that Nigerians get a better deal.

Atiku said, “It is to my consternation that despite the crash in the price of oil, and the inability of Nigeria to expand our revenue base through the non-oil sector, the Federal “Government of Nigeria has only seen fit to slash our budget by a mere 0.6 percent, from N10.594trn to N10.523trn. This represents a reduction of only N71bn.

According to him, as at the time, the budget was first presented to the National Assembly on Tuesday, October 8, 2019, it was predicated on crude oil production of 2.18 million barrels a day, at an expected oil price of $57 per barrel. He said this situation has since changed.

He pointed out that Saudi Arabia, a nation with a much stronger production capacity than ours and with a larger global market share, as well as foreign reserves that are 12 times ours, has slashed her budget by almost 30%. Ditto for other oil economies.

He said, “My counsel to the Federal Government of Nigeria is this: put Nigerians first and cut your coat, not according to your size, but according to your cloth.

“Realistically slash the budget. Every pork barrel has to go. The billions budgeted for the travels and feeding of the President and Vice President has to be reduced. The N27bn budget for the renovation of the National Assembly has to go.

“The massive budgets to run both the Presidency and the Legislature has to be downsized. The budget for purchasing luxury cars for the President, his vice, and other political office holders must be jettisoned. Leave the salaries of civil servants alone, but reduce the salaries of political appointees. Sell 8 or 9 of the jets in the Presidential Air Fleet.

“Any budget slash that is less than 25% will not be in the interest of Nigeria. And beyond a budget slash, Nigeria needs a budget realignment, to redirect expenditure away from running a massive bureaucracy, into social development sectors like education, infrastructure, and above all, healthcare. We must invest in the goose that lays the golden egg – the Nigerian people.”

BIG STORY

Blackmailing Of GTCO, CEO: Court Constrained To Grant Bloggers Bail Due To History Of Being Serial Offenders

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Justice Ayokunle Faji of the Federal High Court in Lagos has ordered an accelerated trial of the four bloggers charged with defaming and cyberstalking the management of GTCO (Guaranty Trust Holding Company), including its Group CEO, Mr. Segun Agbaje.

The four accused—Precious Eze, Olawale Rotimi, Rowland Olonishuwa, and Seun Odunlami—are facing 10 amended charges for allegedly publishing false information about the company through various social media platforms.

At the resumed hearing of the matter on the 13th and 14th of November, Justice Faji also dismissed the bail applications, citing the serious nature of the alleged offences, which include charges that could lead to up to 14 years in prison.

The judge also held that one of the defendants – Precious Eze has shown the tendency to commit a similar offence again if let out as he is currently charged with a similar offence in another court and was only on bail when he went ahead to commit the alleged offence for which he is now standing trial.

Justice Faaji also highlighted the potentially destabilizing impact such actions could have on the banking sector, particularly since some of the charges involve cross-border activities on the Internet.

The defense counsel, Afolabi Adeniyi, had at the last hearing of the matter while moving an application for bail for the accused persons argued that the defendants should be granted bail on liberal terms, emphasizing that the charges were bailable and that the accused were willing to face trial.

Opposing the application, the prosecution Counsel, Chief Aribisala, SAN, urged the court to reject the bail request, highlighting the risk of the defendants absconding and stressing the need for an expedited trial.

In delivering his ruling, Justice Faji not only denied bail but also ordered an accelerated trial, underlining the gravity of the charges.

He also noted that the defendants’ actions challenged the authority of regulatory bodies, including the Central Bank of Nigeria (CBN), which had approved GTCO’s audited statements.

The matter has been adjourned until the 10th and 12th of December for continuation of the trial.

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UPDATE: Friends Of Late Band Boy Insist “Overnight Beating” Led To His Demise, Not Suicide [VIDEOS]

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Friends and acquaintances of the late 26-year-old Lagos-based guitarist, Lekan, have raised new concerns regarding the circumstances of his tragic death, claiming that it was the severe beating he endured, rather than suicide, that ultimately led to his passing.

Lekan was found lifeless inside his room after allegedly consuming an insecticide liquid, sniper, following accusations of stealing money from his band leader, Sam Omo-Oba.

While initial reports suggested that Lekan took his own life in the wake of the allegations, his friends believe the brutal torture he faced at the hands of his boss is to blame for his untimely death.

According to a close friend of the deceased, who spoke in a video by a social media personality “Dr. Oyinlomo Diamond”, the beating began late at night and continued throughout the following morning.

A friend of the late guitarist also mentioned that there was no Snipper in the room where Lekan was found dead.

Recall that in a video that circulated on social media, Lekan is seen denying the theft allegations while being repeatedly slapped and punched by Sam Omo-Oba and other members of the band.

Despite the physical assault, Lekan maintained his innocence, but it appeared that the torture only intensified after his refusal to confess.

 

See videos below:

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BIG STORY

Nigeria’s Crude Oil Production Now 1.8million Barrels Per Day (BPD) — NNPCL

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The Nigerian National Petroleum Company (NNPC) Limited says Nigeria’s oil production has reached 1.8 million barrels per day (bpd).

According to NAN, Lawal Musa, NNPC chief production war room officer, spoke during a briefing on the national oil company’s production on Thursday.

Musa, who doubles as a senior business advisor to Mele Kyari, NNPC group chief executive officer (GCEO), said the increased oil production followed the continuous dislodgement of pipeline vandals and crude oil thieves.

He said the achievement was based on the partnership between the leadership of the company, stakeholders, and security agencies.

“We achieved this because of the clear mandate by President Bola Tinubu to ramp up crude oil production in the country,” Musa said.

On November 11, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said Nigeria’s current production level, including crude oil and condensates, has reached 1.8 million barrels per day (bpd), up from 1.54 million bpd in September.

Enorense Amadasu, executive commissioner of development and production at NUPRC, said there are plans to raise the figure to 2 million bpd by year-end.

Amadasu said the country’s crude oil and condensate output is expected to increase amid a plan to open bids for 31 onshore and offshore oil blocks.

The next day, the Organisation of Petroleum Exporting Countries (OPEC) said Nigeria’s average daily crude oil production, excluding condensates, increased marginally to 1.33 million bpd in October.

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