This banking reform by the current Central Bank of Nigeria's Governor, Mallam Sanusi Lamido Sanusi is bringing up lot of issues that are detrimental to the growth of the economy. I think if these issues are not loooked into and resolved by the Acting President Goodluck Jonathan, the economy would takes year to get it back on track. Has the economy derailed? YES.
The Governor of Central Bank of Nigeria when appointed sent auditors/examiners to look into the books of some banks in Nigeria for long non performing loans. He started with ten banks and after some weeks, the verdict came that five banks were distressed. The banks are Union Bank, Iintercontinental Bank, Oceanic Bank, AfriBank and Finbank. Immediately, without allowing the management of those banks to defend themselves, out they went.
The Governor without approval of the Senate of the Federal Republic of Nigeria, printed new Naira notes and imported them to bail out the 'perceived' distreesed banks. Also the management and in some banks the board members were labelled criminals and handed over to Economic and Financial Crime Commission for prosecution. Advisers/Managing Directors and directors were appointed for the rescued (that is the new slang instead of distressed) banks. The banks were to adhere to banking guidelines and give full disclosure of their activities.
The guidelines were 'good' but the noise accompanying the removal of the Managing Directors and Directors of those banks had a negative effect. Depositors fearing the repeat of trapped money in distressed and failed banks quickly started withdrawing their money. The Governor and his lieutenats have to start campaigning that depositors should not withdraw their money that the banks have been bailed out of distress and their money is safe. Did that work? Somehow it did. The enlightened banking public returned their deposits. Later sentiment and loyalty made others to return to those banks. But are things the same way that it was before? NO.
The price paid for these banking reforms by the economy and the people is really high.
First, confidence reposed on the banking industry by the public was shattered as the CEOs were sacked. Even Nigerians living abroad that used to remit money back home for developmental projects stopped. The capital inflow into Nigeria stopped because of the fear of money being trapped and not used.
Secondly, about ten thousand (10,000) bank workers have lost their jobs since this reforms started. The staff left untouched do not know when the matching order to leave will come but the reduction in salary has come. I went to one of the affected banks recently to conduct a transaction and was shocked at the empty tables around. One of the lucky staff said the tables would be removed soon since employing new staff would not be immediate. Even the banks that were given clean bill of health have embarked on cost-cutting measures including reduction of salaries. An in-law working in one of the affected banks told me their other emoluments were stooped so he had to ask his driver to go. The Indian man i worked with before told me that the survey he conducted showed that for every one Nigerian employed, Four others are dependent on that one employee. So 10000 x 4 means 40000 Nigerians are out of jobs and reular income. This is sad. Banks which used to employ fresh graduates have stopped hiring and new branches are not opened. We are all waiting and hoping and praying.
Thirdly, credit to the manufacturing industries and fuel marketers have stopped. No more loans to import fuels. Now we have long queues at the the Fuel filling stations. Time and energy expended in buying fuel and diesel could have been used in something else but in Nigeria we have to suffer because Sanusi is sanitising or witch hunting those who opposed his appointment as Governor in the banking industry. Banks are recalling loans that are performing and are scared to give out new loans to businesses.
Fourthly, With the PHCN being perpetually out of gas and no fuel to power generators, our health is affected by Sanusi's banking reforms.
Did the new CBN Governor, MALLAM LAMIDO SANUSI acted wisely in these reforms?
My answer is NO.
Thursday, February 18, 2010
Friday, February 12, 2010
GOODLUCK JONATHAN
Man Goodluck Jonathan, the acting President of the Federal Republic of Nigeria and the Commander-in-Chief of the Armed forces is an extremely lucky man. Although the write up below is supposed to be funny but there is an element of favour in the affairs of our former Vice President and current Acting President.
“In your own (best) interest, no matter the position you are offered in ANY organisation (Office, Church, Meeting/Club, Party Planning, Tenants’ Association, Activist, etc), if your Deputy is named "Goodluck”, PLEASE DECLINE... even if it is UN Secretary General or Head of African Union, whatever, JUST DECLINE!
Should you think I am joking, check these facts:
Goodluck was Assistant Head Boy in primary school. The Head Boy got expelled. Goodluck took over.
Goodluck was Assistant Senior Prefect in secondary school, the Senior Prefect died, Goodluck took over.
Goodluck was Deputy Local Government Chairman. The Chairman got implicated in corruption and got removed from office. Goodluck took over
Goodluck was deputy governor to Alameiseigha. Governor Dipreye Alameseigha was impeached by the Stat lawmakers and Goodluck became the Governor of Bayelsa State despite his reluntancy.
Goodluck was Vice President to President Umaru Musa Yar’Adua:-Behold he became sick - PERICADIATIS!. He is away for months now and no one could ascertain his true state of health. Again Goodluck is called upon to take over.
You may think this is coincidence, but don’t you think the coincidence is too much?''
Whether it is coincidence or it is a fact, Acting President Goodluck Jonathan is a lucky guy. He has always been lucky even as an ordinary citizen. He was just in his house when Alameseigha and a friend walked in and he was offered Deputy governorship of his state, Bayelsa. He laughed it off but few months later he was sworn in as the Deputy Governor of Bayelsa State. That is favour of God. His name Goodluck is sure working for him.
Congrats Presido Goodluck Jonathan!. May you reign brings peace. economic growth, political stabilty, infrastructural development and security to life and property. May your reign as the President of the most populous black nation ends well.
“In your own (best) interest, no matter the position you are offered in ANY organisation (Office, Church, Meeting/Club, Party Planning, Tenants’ Association, Activist, etc), if your Deputy is named "Goodluck”, PLEASE DECLINE... even if it is UN Secretary General or Head of African Union, whatever, JUST DECLINE!
Should you think I am joking, check these facts:
Goodluck was Assistant Head Boy in primary school. The Head Boy got expelled. Goodluck took over.
Goodluck was Assistant Senior Prefect in secondary school, the Senior Prefect died, Goodluck took over.
Goodluck was Deputy Local Government Chairman. The Chairman got implicated in corruption and got removed from office. Goodluck took over
Goodluck was deputy governor to Alameiseigha. Governor Dipreye Alameseigha was impeached by the Stat lawmakers and Goodluck became the Governor of Bayelsa State despite his reluntancy.
Goodluck was Vice President to President Umaru Musa Yar’Adua:-Behold he became sick - PERICADIATIS!. He is away for months now and no one could ascertain his true state of health. Again Goodluck is called upon to take over.
You may think this is coincidence, but don’t you think the coincidence is too much?''
Whether it is coincidence or it is a fact, Acting President Goodluck Jonathan is a lucky guy. He has always been lucky even as an ordinary citizen. He was just in his house when Alameseigha and a friend walked in and he was offered Deputy governorship of his state, Bayelsa. He laughed it off but few months later he was sworn in as the Deputy Governor of Bayelsa State. That is favour of God. His name Goodluck is sure working for him.
Congrats Presido Goodluck Jonathan!. May you reign brings peace. economic growth, political stabilty, infrastructural development and security to life and property. May your reign as the President of the most populous black nation ends well.
Friday, February 5, 2010
Ailing President Yar'adua
President Umaru Musa Yar'dua is still not back from the medical trip or holiday he travelled to Saudi Arabia for. When he left the country in November 2009, it was with the intention to treat the acute pericarditis and return back to the country to continue his job as the President. He did not deemed it fit and proper to hand over to his Vice since he thought he would be gone for just few days. He has always been doing it and Nigerians would look elsewhere but this time around it was not to be. There is a saying that man plans but God is the one with the final word say ie man proposes but God disposes.
Now the President has been away for months without handing over or transfering authority to his Vice-President. This has led to power vacuum. The prolonged absence has affected practically all aspect of the country. For instance, the year 2010 budget has not been signed and people like us who draw salary from government are still waiting. In our own case, we recieved the last salary from Ajaokuta July 2009. The Minister Deziani Allison Madueke warned us not to expect any salary for the year again. She claimed people are not working. Who is responsible? Is it not the Ministry that she is the Minister that has denied the company funds in order to ground us. If 3B Naira can be released for payment of salary, why cant only N400M (four hundred Million Naira) be releasesd for the plant to start production? The Nigerian Society of Engineers has advised severally that Nigeria has no right to sell off Ajaokuta Steel Company as its very viable. But the Ministry of Steel Development in Nigeria is only interested in the money to be shared out for the non existent audit of the plants. We are told the Russians are back for technical audit. What for? After the audit and members of staff are not paid salary, what happens? I do not see any staff going to wake up to go to work when owed five months salary. Is the audit not waste of resources? Abi which one be dis o.
In Nigeria, Governance is something else. Anyway, they are not to be blamed because the people did not vote for them so they are not accountable to us.
Goodluck Jonathan Should please step in and rescue this nation from failure. Nigerians have suffered much before now and the invisible President is not helping at all. I hope the First Lady, Turai Yar'adua will be responsible and reasonable enough to let us know if her husband is still alive or in a coma or dead. Nobody wishes the President dead but we cannot continue with this suspense as it regard th health of the number 1 citizen of this country called Nigeria.
Now the President has been away for months without handing over or transfering authority to his Vice-President. This has led to power vacuum. The prolonged absence has affected practically all aspect of the country. For instance, the year 2010 budget has not been signed and people like us who draw salary from government are still waiting. In our own case, we recieved the last salary from Ajaokuta July 2009. The Minister Deziani Allison Madueke warned us not to expect any salary for the year again. She claimed people are not working. Who is responsible? Is it not the Ministry that she is the Minister that has denied the company funds in order to ground us. If 3B Naira can be released for payment of salary, why cant only N400M (four hundred Million Naira) be releasesd for the plant to start production? The Nigerian Society of Engineers has advised severally that Nigeria has no right to sell off Ajaokuta Steel Company as its very viable. But the Ministry of Steel Development in Nigeria is only interested in the money to be shared out for the non existent audit of the plants. We are told the Russians are back for technical audit. What for? After the audit and members of staff are not paid salary, what happens? I do not see any staff going to wake up to go to work when owed five months salary. Is the audit not waste of resources? Abi which one be dis o.
In Nigeria, Governance is something else. Anyway, they are not to be blamed because the people did not vote for them so they are not accountable to us.
Goodluck Jonathan Should please step in and rescue this nation from failure. Nigerians have suffered much before now and the invisible President is not helping at all. I hope the First Lady, Turai Yar'adua will be responsible and reasonable enough to let us know if her husband is still alive or in a coma or dead. Nobody wishes the President dead but we cannot continue with this suspense as it regard th health of the number 1 citizen of this country called Nigeria.
Thursday, December 17, 2009
President Yar'adua in a Coma?
Today is Day 24 since our President went for Medical attention in Saudi Arabia.
The President of the West African Bar Association, Mr. Femi Falana, has said that President Umaru Yar’Adua’s failure to formally inform the National Assembly about his medical trip to Saudi Arabia constituted an impeachable offence.
Is it impeachment now or how the man can recover and come back quickly before Nigeria collapsed.
Since Monday 14th December 2009, there has been fuel scarcity in Lagos, the commercial nerve centre of Nigeria. I was extremely lucky to have bought fuel that monday. I saw cars queuing to purchase fuel in Marina, Lagos and knowing the kind of system we operate where information is heard from the rumour mill and people's reaction, i suspected fuel would not be available in days to come. We jump queue at a point to enter the filling station before the security guard shut the gate.
By the next day, it was confirmed that there was a misunderstanding between the independent marketers who import petroleum products and the Government agencies. The government decided to hold back due to the inability of the importers to pay off what they are owing. Who suffers? The MASSES of course. The masses are the ones queuing from dawn to dusks at filling station to buy fuel and diesel for thier vehicles and their generators. We were told to expect 6,000Megawatt of electricity by December 2009 which would have saved us from putting on generators. But that promise is not fulfilled because today 17th December, everyone around me is using generator. The noise pollution is what i am going to discuss in the next write up shortly. IN fact its deafening but we have to put up with those generators because we cannot stay in darkness. There must be light whichever way.
If you look at all the myriads of problems we have as a nation, then our President should not be sick at all. If he must be sick, then he should not leave without handing over to the Vice President. Now he's been gone for weeks and everything is grinding to a halt. Goodluck Jonathan is not Atiku, the former Vice President who always step in whenever the former President was away from the country which was almost every week.
The civil societies and some lawyers have been protesting the President's absence but that had not yielded any result. Femi Falana had taken the case to court and had on tuesday asked the Federal High Court, Abuja to invalidate decisions taken by the Federal Executive Council in Yar’Adua’s absence. He also asked the court to compel the President to formally inform the Senate president and Speaker of the House of Representatives about his medical trip and empower Vice-President Goodluck Jonathan to function as acting president. Speaking with some journalists later Falana said, “Presdent Umaru Yar’Adua’s failure to write to the National Assembly before his medical trip abroad is a violation of Section 145 of the 1999 Constitution. It is an impeachable offence.” He also lamented the statement credited to the Attorney-General and Minister of Justice, Mr. Michael Aondoakaa, that Yar’Adua was in charge of the government, wondering how a man who had been admited to hospital for over three weeks could be running the country, “How can the President, who is on medical vacation and has not been able to discharge his functions for the past 23 days, remain in effective charge of this country? The statement is unbecoming of an attorney-general.”
Whatever is the situation, the Vice President should be empowered so that Nigeria can move forward. We are stagnated as it is. The budget for 2010 is another issue. What will happen to that. Electricity is not stable. The militants are getting restless as the promises made to them to surrender are not fulfilled. The econmy is being run by a man with vendetta on his perceived 'enemies' who opposed his being made CBN governor. The roads are bad especially Lagos to Benin highway.
President Yar Adua is not the kind of person that will be alive and not advise his aides to cause a letter to be written empowering his vice to act till he recovers and resumes. Why is the President keeping silence? Is he truly recovering or is he in a coma?
Nigerians need to know. Please AONDOKA, stop playing politics as this involves life. Lets know what is happening to our President.
The President of the West African Bar Association, Mr. Femi Falana, has said that President Umaru Yar’Adua’s failure to formally inform the National Assembly about his medical trip to Saudi Arabia constituted an impeachable offence.
Is it impeachment now or how the man can recover and come back quickly before Nigeria collapsed.
Since Monday 14th December 2009, there has been fuel scarcity in Lagos, the commercial nerve centre of Nigeria. I was extremely lucky to have bought fuel that monday. I saw cars queuing to purchase fuel in Marina, Lagos and knowing the kind of system we operate where information is heard from the rumour mill and people's reaction, i suspected fuel would not be available in days to come. We jump queue at a point to enter the filling station before the security guard shut the gate.
By the next day, it was confirmed that there was a misunderstanding between the independent marketers who import petroleum products and the Government agencies. The government decided to hold back due to the inability of the importers to pay off what they are owing. Who suffers? The MASSES of course. The masses are the ones queuing from dawn to dusks at filling station to buy fuel and diesel for thier vehicles and their generators. We were told to expect 6,000Megawatt of electricity by December 2009 which would have saved us from putting on generators. But that promise is not fulfilled because today 17th December, everyone around me is using generator. The noise pollution is what i am going to discuss in the next write up shortly. IN fact its deafening but we have to put up with those generators because we cannot stay in darkness. There must be light whichever way.
If you look at all the myriads of problems we have as a nation, then our President should not be sick at all. If he must be sick, then he should not leave without handing over to the Vice President. Now he's been gone for weeks and everything is grinding to a halt. Goodluck Jonathan is not Atiku, the former Vice President who always step in whenever the former President was away from the country which was almost every week.
The civil societies and some lawyers have been protesting the President's absence but that had not yielded any result. Femi Falana had taken the case to court and had on tuesday asked the Federal High Court, Abuja to invalidate decisions taken by the Federal Executive Council in Yar’Adua’s absence. He also asked the court to compel the President to formally inform the Senate president and Speaker of the House of Representatives about his medical trip and empower Vice-President Goodluck Jonathan to function as acting president. Speaking with some journalists later Falana said, “Presdent Umaru Yar’Adua’s failure to write to the National Assembly before his medical trip abroad is a violation of Section 145 of the 1999 Constitution. It is an impeachable offence.” He also lamented the statement credited to the Attorney-General and Minister of Justice, Mr. Michael Aondoakaa, that Yar’Adua was in charge of the government, wondering how a man who had been admited to hospital for over three weeks could be running the country, “How can the President, who is on medical vacation and has not been able to discharge his functions for the past 23 days, remain in effective charge of this country? The statement is unbecoming of an attorney-general.”
Whatever is the situation, the Vice President should be empowered so that Nigeria can move forward. We are stagnated as it is. The budget for 2010 is another issue. What will happen to that. Electricity is not stable. The militants are getting restless as the promises made to them to surrender are not fulfilled. The econmy is being run by a man with vendetta on his perceived 'enemies' who opposed his being made CBN governor. The roads are bad especially Lagos to Benin highway.
President Yar Adua is not the kind of person that will be alive and not advise his aides to cause a letter to be written empowering his vice to act till he recovers and resumes. Why is the President keeping silence? Is he truly recovering or is he in a coma?
Nigerians need to know. Please AONDOKA, stop playing politics as this involves life. Lets know what is happening to our President.
Ailing President and the Attorney-General
The Attorney General of the Federation, Chief Michael Aondoakaa said on Tuesday 17th December, that President Umaru Yar‘Adua, irrespective of his state of health, can carry out his official duties from any part of the world without being physically present in the country.
The opposition or the voice of the masses, Action Congress issued a statement through their National Publicity Secretaries, Alhaji Lai Mohammed and describing the story by the Minister as an attempt to deceive Nigerians with what they called ”his string of poorly-thought-out statements bordering on the ill-health of the President.” Other commentators described his statement as unfortunate.
Action Congress said, ”If the framers of our constitution had wanted the President to rule from a distance, it would not have dwelt on the need for the President to hand over to his deputy if he is proceeding on vacation or otherwise unable to carry out his official functions for whatever reasons.Unfortunately, many members of the President‘s cabinet, in their desperate bid to ingratiate themselves to him, are ready to distort the constitution and even peddle bold-facing lies. It is particularly sad when the official leading such a campaign of lies and deceit is the country‘s chief law officer. The minister was previously quoted as saying President Yar Adua's ailment is 'minor', even when the President has been in Saudi Arabia for the past 23 days as at December 16. With his latest comments, which have not been denied, Minister Michael Aondoakaa has hit a new low.”
The party also stated that it was a fact that many of the President Yar Adua's aides and ministers are self-serving rather than being concerned about the sick President.
The Federal Executive Council is supposed to act in accordance with the provisions of the constitution by commencing the process of ascertaining whether the President could continue in office or not on account of his ailing health but the council members would not. They are only interested in personal gains.
The Attorney General of the Federation, Chief Michael Aondoakaa is one of the politicians that has benefitted so much from this administration and would not want the President to resign no matter how sick he is. But as the chief law officer of the federation, is he not violating the 1999 Constitution by insisting that the President has not done anything wrong in travelling out of the country for weeks without handing over to the Vice President?. He is constitutionally empowered to advise the President and interpret Section 145 of the 1999 Constitution as regard absentism.
The CNPP also condemned the Attorney General outburst and issued a statement. The following extract is from their statement ”CNPP is happy that President Yar‘Adua is recovering; however we are of the candid view that he should avail himself of Section 145 so as to enable him to recover fully, devoid of distraction from state duties; after which he will be back on duty.”
To them the fundamentals of the President‘s functions disallowed him from ruling from the Diaspora. According to the Constitution, the President should be holding regular meetings with the Vice President and all the Ministers of the Government Section 148(2).
”Does the constitution want the President to be in Saudi Arabia and his ministers scattered all over the nations and are holding the necessary meetings expected of them from abroad? Are they shifting Nigerian cabinet to Saudi Arabia? Is Aondoakaa saying that we should now compromise our sovereignty and allow our Aso Rock to be shifted to Saudi Arabia?”
The Attorney General should tell us what the position is. To me the man is full of inconsistencies.
The opposition or the voice of the masses, Action Congress issued a statement through their National Publicity Secretaries, Alhaji Lai Mohammed and describing the story by the Minister as an attempt to deceive Nigerians with what they called ”his string of poorly-thought-out statements bordering on the ill-health of the President.” Other commentators described his statement as unfortunate.
Action Congress said, ”If the framers of our constitution had wanted the President to rule from a distance, it would not have dwelt on the need for the President to hand over to his deputy if he is proceeding on vacation or otherwise unable to carry out his official functions for whatever reasons.Unfortunately, many members of the President‘s cabinet, in their desperate bid to ingratiate themselves to him, are ready to distort the constitution and even peddle bold-facing lies. It is particularly sad when the official leading such a campaign of lies and deceit is the country‘s chief law officer. The minister was previously quoted as saying President Yar Adua's ailment is 'minor', even when the President has been in Saudi Arabia for the past 23 days as at December 16. With his latest comments, which have not been denied, Minister Michael Aondoakaa has hit a new low.”
The party also stated that it was a fact that many of the President Yar Adua's aides and ministers are self-serving rather than being concerned about the sick President.
The Federal Executive Council is supposed to act in accordance with the provisions of the constitution by commencing the process of ascertaining whether the President could continue in office or not on account of his ailing health but the council members would not. They are only interested in personal gains.
The Attorney General of the Federation, Chief Michael Aondoakaa is one of the politicians that has benefitted so much from this administration and would not want the President to resign no matter how sick he is. But as the chief law officer of the federation, is he not violating the 1999 Constitution by insisting that the President has not done anything wrong in travelling out of the country for weeks without handing over to the Vice President?. He is constitutionally empowered to advise the President and interpret Section 145 of the 1999 Constitution as regard absentism.
The CNPP also condemned the Attorney General outburst and issued a statement. The following extract is from their statement ”CNPP is happy that President Yar‘Adua is recovering; however we are of the candid view that he should avail himself of Section 145 so as to enable him to recover fully, devoid of distraction from state duties; after which he will be back on duty.”
To them the fundamentals of the President‘s functions disallowed him from ruling from the Diaspora. According to the Constitution, the President should be holding regular meetings with the Vice President and all the Ministers of the Government Section 148(2).
”Does the constitution want the President to be in Saudi Arabia and his ministers scattered all over the nations and are holding the necessary meetings expected of them from abroad? Are they shifting Nigerian cabinet to Saudi Arabia? Is Aondoakaa saying that we should now compromise our sovereignty and allow our Aso Rock to be shifted to Saudi Arabia?”
The Attorney General should tell us what the position is. To me the man is full of inconsistencies.
Friday, December 11, 2009
6,000 MEGAWATT
The Federal Government of Nigeria promised the citizens uninterrupted power supply by December 2009. This promise has been given before but was unfulfilled by former administration so this latest promise was taken with a pinch of salt and we seem to have taken the right decision. We have few days to the end of 2009 and there is nothing to show seriousness on the part of government.
Recently, the Senate Committee on Power on Tuesday December 8, demanded to know from the ministry of Power if the December 31, 2009 target for the generation of 6000 Megawatt of electricity in Nigeria was realisable and the Minister said Yes. The Minister, Mr. Lanre Babalola was emphatic on their target even when the Chairman of the Senate Committee on Power, Nicholas Ugbane expressed disappointment on the non availability of road map for the realisation.
While the Senate Committee Chairman was being 'confused' and the Minister was defending the huge budget spent with nothing to show to the people of Nigeria on power, Power Holding Company placed an advertisement in the dailies that they are now targeting 4,000 Megawatt instead of 6,000Megawatt earlier promised.
Why i said the Chairman of the Senate Committee on Power was confused was because he that had oversight function over the Ministry of Power does not know what was generated and distributed to the consumers. 'I don't know where we are today...we have spent billions of naira on the power sector, what is happening?' This quote is the word of the Chairman and i wonder if the man that is supposed to supervise does not know, then what happens to the masses? The Minister responded to the Chairman's worries by assuring that the 6,000MW target is still on course and has not been jettisoned. The Minister said there are more issues to power than generation (as if we don't know). His explanation was that sustainability was mopre important. According to him, 'we are not only targeting 6,000MW but we are looking at sustainability. Without a doubt a lot of money has gone into the sector but the issue at hand is to deal with the whole gamut of generation and distribution.To build a transmission station will take a better part of three years without having major issues and the lines will take about two years. We need to build capacity beyond 6,000MW. We agree that billions of naira have been spent on the power sector. We have not jettisoned the 6,000MW, it is still in focus all things being equal...' All things being equal means that target is subject to other factors which is out of their control and that is gas which is being supplied by the petroleum sector. He assured the Senate Committee that discussions were ongoing with that sector to ensure availabilty of gas to power some of the generating stations.
Recently we read in the dailies that the total power generated by the power stations stood at 2,960MW against the target of 6,000MW. There is a serious shortfall in gas supply to the power stations from the Nigerian Gas Company.
With this revelation, is the 6,000MW target set by the Federal Government realisable? Time will tell because we have few days to 31st December , 2009.
Recently, the Senate Committee on Power on Tuesday December 8, demanded to know from the ministry of Power if the December 31, 2009 target for the generation of 6000 Megawatt of electricity in Nigeria was realisable and the Minister said Yes. The Minister, Mr. Lanre Babalola was emphatic on their target even when the Chairman of the Senate Committee on Power, Nicholas Ugbane expressed disappointment on the non availability of road map for the realisation.
While the Senate Committee Chairman was being 'confused' and the Minister was defending the huge budget spent with nothing to show to the people of Nigeria on power, Power Holding Company placed an advertisement in the dailies that they are now targeting 4,000 Megawatt instead of 6,000Megawatt earlier promised.
Why i said the Chairman of the Senate Committee on Power was confused was because he that had oversight function over the Ministry of Power does not know what was generated and distributed to the consumers. 'I don't know where we are today...we have spent billions of naira on the power sector, what is happening?' This quote is the word of the Chairman and i wonder if the man that is supposed to supervise does not know, then what happens to the masses? The Minister responded to the Chairman's worries by assuring that the 6,000MW target is still on course and has not been jettisoned. The Minister said there are more issues to power than generation (as if we don't know). His explanation was that sustainability was mopre important. According to him, 'we are not only targeting 6,000MW but we are looking at sustainability. Without a doubt a lot of money has gone into the sector but the issue at hand is to deal with the whole gamut of generation and distribution.To build a transmission station will take a better part of three years without having major issues and the lines will take about two years. We need to build capacity beyond 6,000MW. We agree that billions of naira have been spent on the power sector. We have not jettisoned the 6,000MW, it is still in focus all things being equal...' All things being equal means that target is subject to other factors which is out of their control and that is gas which is being supplied by the petroleum sector. He assured the Senate Committee that discussions were ongoing with that sector to ensure availabilty of gas to power some of the generating stations.
Recently we read in the dailies that the total power generated by the power stations stood at 2,960MW against the target of 6,000MW. There is a serious shortfall in gas supply to the power stations from the Nigerian Gas Company.
With this revelation, is the 6,000MW target set by the Federal Government realisable? Time will tell because we have few days to 31st December , 2009.
Wednesday, December 2, 2009
Ailing President
Our President UMARU MUSA YAR'ADUA is sick. He is been diagnosed in a Saudi Hospital with an acute heart condition. The ailment is called 'acute pericarditis'.
In 2007, when the campaign train of the ruling People Democratic Party was going on in Nigeria for the election that same year, the Presidential flagbearer who is now the President was flown urgently to Germany for medical attention. It was the then President Obasanjo that was campaigning for Yar'adua throughout the period. Six months after he 'won' the election and was sworn in as the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, he sought medical attention again in Germany while attending the G-8 Conference. In 2008, a scheduled trip to Brazil was cancelled because his health failed and he had to undergo an urgent medical treatment in Saudi Arabia. He was away for two weeks.
Now, the President is in Saudi Arabia once again for 'inflammatory condition of the covering of the heart'. So far, he has made five trips abroad since 2007. This time around, it seems he may be gone longer than the other times. We wish him quick recovery after the surgery but what about the governance of this nation. Does the Constitution of Nigeria permit the President to be away for weeks without an acting President?
1999 Constitution Section 145
'Whenever the President transmits to the President of the Senate and the Speaker of the House of Representativea a written declaration that he is proceeding on vacation or that he is otherwise unable to discharge the functions of his office, until he transmit to them a written declaration to the contrary such functions shall be discharged by the vice-President as Acting President'.
In view of the above, the President did not 'transmit' any written declaration so the Vice President cannot act so what happens to governance as he's away on medical ground? Rickey Tarfa says it is a constitutional issue meaning only his personal physician that can certify the President unfit to govern thereby allowing the Vice to act. To him, Yar Adua being away does not mean an end to governance as he can governed Nigeria from any where. That is the same opinion of Attorney-General of the Federation and Minister of Justice, Mr. Michael Aondoakaa.
Most lawyers faulted the statement and declared it is an attempt to trample the constitution of the country. Prof. Itse Sagay says the Vice President takes over whenever the President is not around because anything contrary to this will bring governance and the entire economy to a standstill.
For Mr. Fred Agbaje, Section 145 of the Constitution is clear on what the President should do if he is going away for vacation or any other leave. The only issue about that section is the duration that the Vice President should act. To him, a serious minded President should not be away for more than two weeks. We are all human and any one can fall ill so the President going away longer on health ground is allowed. But what happened to governance? Who signs the year 2010 budget now that the two houses have passed it?
When will our president come back to Nigeria? We are all praying because the Bible commands us to pray for our leaders. In the meantime who attends to the urgent state matters like electricity, economy, Niger Delta issues and the recently disarmed Militants?
In 2007, when the campaign train of the ruling People Democratic Party was going on in Nigeria for the election that same year, the Presidential flagbearer who is now the President was flown urgently to Germany for medical attention. It was the then President Obasanjo that was campaigning for Yar'adua throughout the period. Six months after he 'won' the election and was sworn in as the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, he sought medical attention again in Germany while attending the G-8 Conference. In 2008, a scheduled trip to Brazil was cancelled because his health failed and he had to undergo an urgent medical treatment in Saudi Arabia. He was away for two weeks.
Now, the President is in Saudi Arabia once again for 'inflammatory condition of the covering of the heart'. So far, he has made five trips abroad since 2007. This time around, it seems he may be gone longer than the other times. We wish him quick recovery after the surgery but what about the governance of this nation. Does the Constitution of Nigeria permit the President to be away for weeks without an acting President?
1999 Constitution Section 145
'Whenever the President transmits to the President of the Senate and the Speaker of the House of Representativea a written declaration that he is proceeding on vacation or that he is otherwise unable to discharge the functions of his office, until he transmit to them a written declaration to the contrary such functions shall be discharged by the vice-President as Acting President'.
In view of the above, the President did not 'transmit' any written declaration so the Vice President cannot act so what happens to governance as he's away on medical ground? Rickey Tarfa says it is a constitutional issue meaning only his personal physician that can certify the President unfit to govern thereby allowing the Vice to act. To him, Yar Adua being away does not mean an end to governance as he can governed Nigeria from any where. That is the same opinion of Attorney-General of the Federation and Minister of Justice, Mr. Michael Aondoakaa.
Most lawyers faulted the statement and declared it is an attempt to trample the constitution of the country. Prof. Itse Sagay says the Vice President takes over whenever the President is not around because anything contrary to this will bring governance and the entire economy to a standstill.
For Mr. Fred Agbaje, Section 145 of the Constitution is clear on what the President should do if he is going away for vacation or any other leave. The only issue about that section is the duration that the Vice President should act. To him, a serious minded President should not be away for more than two weeks. We are all human and any one can fall ill so the President going away longer on health ground is allowed. But what happened to governance? Who signs the year 2010 budget now that the two houses have passed it?
When will our president come back to Nigeria? We are all praying because the Bible commands us to pray for our leaders. In the meantime who attends to the urgent state matters like electricity, economy, Niger Delta issues and the recently disarmed Militants?
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