🗞️ Eat the rich
Hey! New day, New news
In this edition:
Law enforcement getting kidnapped
Shell is leaving Nigeria
OXFAM found some interesting stats about Africa’s richest people
This edition is 2,200 words (approx. 8 mins read)
What happened in Ibadan
On January 16th In Ibadan, Nigeria, there was a tragic explosion in a residential, densely populated area caused by explosives stored by illegal miners.
The blast killed three people, injured 77, and affected seven neighbourhoods in the city. The explosion, attributed to explosives stored for illegal mining, damaged over 20 homes and buildings.
Eyewitnesses reported that the explosion happened in the evening in a residential area called Bodija.
The governor of Oyo state, Seyi Makinde, promised to hold those responsible accountable, cover the victims' medical bills, provide temporary housing for those affected, and support them in rebuilding their lives.
The authorities say some of those injured were discharged hours after, and others are still receiving medical attention.
The owner of the explosives has not yet been identified and no arrests have been made
Fire in Ilorin
A fire in Ilorin, at Megida Onikanhun Compound on January 15th has left 120 people homeless.
The fire destroyed 44 rooms in a building and a mosque. The fire department responded to the incident and managed to control and extinguish the fire within an hour.
The cause of the fire was traced back to someone setting refuse on fire, which then spread to the nearby compound.
No deaths were reported.
Nigerian law enforcement officers getting kidnapped
Nigerian Airforce officer and his family kidnapped
A Nigerian Airforce officer Nurudeen Popoola, his wife Dr. Ganiyat Olawale-Popoola, and their 16-year-old son Abdulmugniy Folaranmi were kidnapped in Kaduna on the 27th December, 2023- Tribune
The kidnappers contacted their family and asked for 100 million naira for their safe return. The abductors named the 18th of January as the due date for payment
The family raised N30 million and is pleading for assistance from President Bola Tinubu and Oyo State Governor Seyi Makinde.
They've reached out to Governor Makinde through email but haven't received a response.
The Air Force officer’s family is still in captivity and there is no word from the government
Last week, kidnappers abducted a woman named Halima Bello, and her son in Kaduna.
Nigerian Airforce officer and his family kidnapped
In a housing estate in Abuja, gunmen attacked and abducted at least two people, including civilians and both serving and retired soldiers - The cable
The incident occurred in the Phase 2 area of the Nigerian Army Post-Service Housing estate on Thursday, 18th of January.
Gunshots were reported for several hours during the invasion.
This is one of many kidnapping incidents that have become somewhat common in Abuja recently and security issues in the capital city.
Nyesom Wike, the FCT minister, assured residents that the government is taking measures to address the security challenges.
Eat the rich
Most of us are the poorest of the poor
In Africa, the seven richest individuals have more wealth than the poorest half of the continent's population, which amounts to 350 million people.
These super-rich individuals benefit from significant corporate tax breaks, totalling five trillion naira, about 18.2% of Nigeria's 2024 annual budget.
The report by OXFAM, a British-founded charitable organisation, highlights that Africa's richest 1% own nearly half of the continent's total financial wealth.
The report suggests that imposing a 5% tax on the super-rich could generate $77.9 billion annually, enough to cover humanitarian needs in Eastern and Southern Africa for 2023.
The study points out that Africa's wealthiest man, Aliko Dangote, is wealthier than over 110 million poor Nigerians, and the wealth of Nigeria's second richest man, Abdulsamad Rabiu, has increased by 29% in the last three years.
OXFAM calls for public action, including measures like public services, corporate regulation, breaking up monopolies, and implementing permanent wealth and excess profit taxes to address the growing wealth inequality.
The report also highlights global trends, where the world's richest individuals have doubled their fortunes since 2020, while global poverty remains high, and billionaires are accumulating wealth at an unprecedented rate.
Meanwhile, the Nigerian Labour Congress says the N35,000 wage agreement with the Federal Government will continue until a new minimum wage is determined.
The agreement, initially approved by Tinubu, aimed to provide a provisional wage increment for Treasury-paid government workers for six months, starting in September 2023.
The NLC president, Joe Ajaero, emphasised that the payment would persist until the new minimum wage is established. However, he expressed concerns about the federal government's flakiness.
But Federal schools want to charge more fees
Students at the Federal University of Technology, Akure (FUTA) protested against the school's decision to increase tuition fees by about 300% (from N35,000 to N130000)
They blocked entrances, demanding a return to the previous fees. The Student Union President stated they had tried talking to the management without success.
The university responded by postponing the resumption indefinitely and asked students to leave within 24 hours.
The management clarified that registration and fee payment for the new academic session were on hold. The students vowed to continue their protest until their demands were met.
Government spending
Sanwo-Olu’s budget
The Governor of Lagos State, Babajide Sanwo-Olu, signed a budget of N2.267 trillion into law.
The money is meant to be used to complete pending and recurring projects across Lagos
This budget includes N1.31 trillion for building new things (like infrastructure) and N952 billion for maintaining existing things (like salaries and other recurring expenses).
The approved budget is slightly higher than initially proposed due to added funds for completing ongoing projects.
The governor emphasised that the success of the budget depends on how well it is put into action. He highlighted the importance of completing current projects and starting new ones.
New electricity (but as I write this I don’t have light)
The Nigerian government, through the Nigerian Electricity Regulatory Commission (NERC), has granted 13 new licences for power generation, distribution, and trading.
These licences, issued in the third quarter of 2023, aim to address the country's electricity challenges. The total electricity generation from these licences is expected to be 40.9 megawatts.
The licences include off-grid and embedded power generation, independent electricity distribution, and electricity trading.
The government and power operators are working to increase electricity output and reduce the number of people without access to electricity in Nigeria, where the power supply has been insufficient.
The licences were granted to various companies for projects in different states, covering off-grid power generation, embedded power projects, independent electricity distribution networks, and electricity trading.
Despite significant investments in the sector, power consumer groups have criticised the poor electricity supply in Nigeria.
Also, they’re exploring more subsidies
The Nigerian government plans to spend N1.6 trillion in 2024 to subsidise electricity costs. The Chairperson of the Nigerian Electricity Regulatory Commission (NERC), Sanusi Garba, announced.
NERC also introduced a new electricity tariff plan called the Multi-Year Tariff Order (MYTO), effective from January 1, with subsidies to prevent consumers from paying higher rates due to the cost-of-living crisis.
The government will subsidise various electricity distribution companies, with a total subsidy estimated at N1.6 trillion this year.
The new tariff plan aims to ensure fair prices for consumers and covers the gap between what distribution companies should charge and what the government allows them to charge.
The subsidy breakdown for some companies includes N233.26 billion for Abuja Electricity Distribution Company, N238.20 billion for Ikeja Electric, N128.92 billion for Enugu Electricity Distribution Plc, and N140.85 billion for Benin Electricity Distribution Plc.
The government aims to address challenges with financing metering through a dedicated fund from market revenues.
The announcement follows controversy and criticism surrounding a proposed electricity tariff increase in 2023.
Research funding
The government has approved over N5 billion to fund 185 successful research proposals under the Tertiary Education Trust Fund (TETfund), National Research Fund 2023 grant cycle.
The approval, given by the Minister of Education, Prof. Tahir Mamman, followed the recommendations of the TETFund National Research Fund Screening and Monitoring Committee.
The committee screened 4,287 concept notes received from applicants in March 2023.
The approved funds include N3.78 billion for Science, Engineering, Technology, and Innovation, N759.88 million for Humanities and Social Science, and N583.67 million for Cross-Cutting projects.
The funded research topics cover a range of areas, such as water quality management, maize yield improvement, electric vehicle development, renewable energy storage, and medical applications like wound healing and cancer treatment.
Government collecting
The Nigeria Civil Aviation Authority (NCAA) is taking steps to recover over N47 billion owed by airlines. The Acting Director General, Chris Najomo, announced a 'no pay, no service' sanction on defaulting airlines, meaning they will not receive services from the authority until they settle their debts. The agency plans to establish a debt recovery Joint Task Force to enforce this initiative.
Najomo also addressed the issue of private jet operators conducting commercial flights without proper licences, emphasising that commercial or charter operations require a valid commercial licence. He mentioned a recent incident where an aircraft operated illegally.
To ensure safety and compliance, Najomo highlighted the importance of Air Transport Licences (ATL), Airline Operating Permits (AOP), and valid Air Operator Certificates (AOC) for charter operations.
The NCAA will implement a risk-based surveillance system to monitor safety, security, and economic aspects, extending it to all service providers.
The agency aims to enforce compliance with Consumer Protection Regulations in the aviation industry, ensuring that passengers receive timely care during service disruptions and that their rights are protected.
Additionally, Najomo emphasised the commitment to a simplified certification and licensing system to streamline approval processes, aligning to promote the growth of the aviation industry.
Fraud
EFCC’s case against former Niger State governor
EFCC is taking former Niger state governor Babangida Aliyu and a former chairman of the People’s Democratic Party (PDP), Tanko Beji, to the Court of Appeal - ICIR
They were initially granted a no-case ruling in a case involving an alleged N4 billion fraud.
The EFCC filed charges against them, called witnesses, and presented evidence. However, the court ruled in favour of Aliyu and Beji, directing the third defendant, Umar Nasko, to defend himself.
The EFCC is dissatisfied with the ruling and has filed an appeal.
Additionally, the Attorney General of Niger State has taken over the case against Nasko. The EFCC is determined to pursue the appeal against Aliyu and Beji.
Web of fraud
The Code of Conduct Bureau (CCB) in Nigeria is investigating the Minister of Interior, Olubunmi Tunji-Ojo, over a contract worth N438 million awarded to New Planet Projects Limited, a company reportedly affiliated with the minister - Premium Times
The contract was awarded by the suspended Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu.
Recall that Betta Edu has been suspended from her position and the EFCC recently interrogated her and suspected collaborators regarding the alleged misappropriation of ministry funds.
A leaked memo revealed that the company associated with Tunji-Ojo received the payment for 'consultancy fees.'
Tunji-Ojo denies any involvement, stating that he resigned as the company's director in 2019. However, the minister and his wife are listed as directors, which implies a potential conflict of interest, violating the Code of Conduct law.
The CCB invited him for questioning on January 16. He has also been summoned by the president
Emefiele can now travel
The FCT High Court has allowed Godwin Emefiele, the former governor of the CBN, to travel outside Abuja. Emefiele had requested a change in his bail conditions, which were set at N300 million with two sureties having property in the Maitama District. - Guardian.ng
The court earlier ordered Emefiele not to leave the court’s jurisdiction and to deposit his travel documents.
However, Emefiele's lawyer assured the court that he would not evade bail if restrictions were lifted.
The court granted the request but insisted that Emefiele must stay in the country during his trial.
Meanwhile, the EFCC re-arraigned Emefiele on new charges, including forgery, corrupt advantage, and breach of trust, related to alleged N6.9 billion procurement fraud.
The charges accuse him of obtaining $6.2 million by pretence (aka theft) and conniving to commit forgery. Emefiele is also accused of awarding a contract for renovating the CBN Governor’s residence to his wife and brother-in-law.
The trial was adjourned for a fresh plea.
Health
Malaria vaccine coming soon
Benin Republic has received its first batch of malaria vaccines, aiming to tackle the high rate of infant mortality caused by malaria in the country.
Health Minister Benjamin Hounkpatin mentioned that malaria is the leading cause of death in children under five in Benin.
The country received 215,900 doses of the RTS,S vaccine and plans to start administering them in a few months.
The vaccine will be given to around 200,000 children under two years old in four doses.
Benin is the third African country to receive these vaccines after Cameroon and Sierra Leone.
The initiative, coordinated by the World Health Organization and funded by the GAVI Vaccine Alliance, has already shown positive results in Ghana, Kenya, and Malawi.
Malaria is responsible for some of the highest rates of deaths in West Africa, especially among children under five.
The vaccine is seen as a crucial step in reducing malaria-related mortality in Benin and other affected countries.
Shell exits Nigeria
(I put this here because they’ve ruined people’s lungs)
Shell, a British energy company, is ending its nearly century-long presence, and decades of oil spills and gas leaks in Nigeria (remember Ogoniland)
The company will sell its subsidiary, The Shell Petroleum Development Company of Nigeria Limited (SPDC), to a consortium of five mostly local companies for up to $2.4 billion.
Shell has faced challenges in Nigeria, including oil spills due to theft, sabotage, and operational issues. The sale is part of a trend where Western energy companies, like Exxon Mobil and Eni, are exiting Nigeria to focus on more profitable ventures - after they’ve ruined livelihoods and family incomes for decades.
Shell will continue its operations in Nigeria's offshore sector, which is considered “more lucrative and less problematic”.
Shell's exit raises concerns about environmental responsibilities, as it has faced lawsuits for damage caused by oil spills in the Niger Delta.
The consortium will take over responsibilities for spills, theft, and sabotage 🤞. But environmental and human rights organisations in Nigeria are demanding that Shell address the impact of their operations before they exit
Shell will still have other assets in Nigeria, including a liquefied natural gas plant.
Is AI coming for your job? Maybe
The International Monetary Fund (IMF) said almost 40 per cent of jobs globally will be influenced by artificial intelligence (AI), saying advanced economies are expected to experience a higher impact compared to emerging markets and low-income countries - IMF
Other News
A 16-year-old boy in Enugu State was released by the police after being held in custody for three months without trial. The police had allegedly demanded a payment of N1.2 million for his release. After the media report, the police released the boy and are now investigating the reasons behind his prolonged detention - Leadership
The Ekiti State Government plans to review the State Cooperative Law governing cooperative societies - Daily Post
Lagos transport authority warns against paying for train rides through personal bank accounts, urging the use of authorised methods like the Cowry Card. They said to Report any payment issues to them at info@lamata-ng.com - Guardian ng
Nigeria is exploring options to increase crude oil production amidst challenges facing producing companies in the country - Guardian ng
The Coordinating Minister of Health and Social Welfare, Prof. Muhammad Ali Pate, has shared plans to improve healthcare and social support for Nigeria's elderly population. About 4% of Nigerians are now considered elderly, and the minister emphasised the need to establish ways to care for them and other vulnerable groups. - Guardian ng
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