🇳🇬 Overall best in borrowing
latest on ASSU strike, Nigeria about to do too much with borrowing, terrorists at large
Hi!
Good news, the Nigerian National Petroleum Company (NNPC) says they’ll stop importing petrol by the end of 2023.
They believe that the long-anticipated Dangote refinery will be done by then. They’re also planning to revive their own refinery, according to NNPC managing director Mele Kyari.
In this week’s edition
Customs comptroller-general says oil subsidy numbers are suspect
Nigeria intends to borrow over the allowance limit
ASUU says strike is now “indefinite”
Southern Kaduna Peoples Union concerned about civil war threat
Crime & Corruption
Oil crime
NNPC also says that if the fuel cost increases or petrol starts getting rationed, it’s because they’ve had to shut down some petrol pipelines due to vandalism.
One of its pipelines had 295 illegal connections within a 200-metre range, some of which were found in “churches and mosques”. Kyari’s other example was a pipeline from Warri to Benin, “we haven’t operated that line for 15 years. Every molecule of product that we put gets lost”, he said.
He says they discovered “739 ovens used for the illegal crude oil theft, 344 reservoirs, and 355 cooking pots” used for the oil stealing
Mele Kyari said some “highly placed individuals” were part of those apprehended for oil theft. But didn’t mention any names.
Crime within NNPC? 👀
The Nigeria Customs Service says the NNPC’s claim that the country consumes 60 million litres of petrol daily is not adding up.
The Customs comptroller-general, Hameed Ali, said if NNPC’s calculation of daily consumption is 60 million litres, why does it allow 98 million litres to be lifted daily? “If you know our consumption, why would you allow [more to be] released?” he asked.
Mr Ali also doesn’t believe their claim petroleum smuggling contributes to the huge subsidy amounts.
Ali says if the claim is that the 98 million litres are to compensate for what will be lost from oil thieves, that is also not adding up. “the balance should be 38 million litres”, he says. “How many trucks will carry 38 million litres every day? Which road are they following, and where are they carrying this thing to?”. All good questions.
Crimes against women
TW: rape
A Chief Magistrates’ Court in Kaduna State ordered that Enoch Sule, a self-acclaimed prophet, be remanded in a correctional facility for raping two sisters, 19 and 17.
Nigeria Security and Civil Defence Corps prosecutor, Marcus Audu, told the court that the matter was reported to them by the Salama Sexual Assault Referral Centre, Kafanchan, on August 8.
Audu explained that Sule deceived the older sister, 19, into accompanying him to the mountain for prayer and fasting. He instructed her to take her clothes off and then raped her. Sule repeated this with the younger sister a month later.
the case files have been forwarded to the State Director of Public Prosecution for legal advice, and the trial adjourned until September 8.
In Bauchi, the State Police Command arrested two vigilante men for sexually assaulting a housewife at gunpoint in Ningi Local Council.
They apparently broke into her home, and when they found out her husband wasn’t home, they raped her at gunpoint.
And in Port Harcourt, Rivers State, police officer Salihu Kazeem has been arrested for raping and taking nude photos of a 17-year-old girl.
The girl, who reported the case, Kazeem, stripped her and her friend naked, took their nude videos and sexually abused them. He then used the same video to constantly blackmail them after accusing them of stealing from him.
EFCC worthy crime
Forensic audit company SSAC Advisory & Professionals disclosed that about N11.9 billion of public funds were allegedly taken from the state treasury between 2011 and 2019 without any project or programme to show for it.
The company, which the Kwara State Government hired, said its audit covers: internally generated revenue; capital receipts; internal and external loans; recurrent/overhead expenditure; personnel cost (salaries and wages); capital expenditure; assets disposed of; Kwara State Internal Revenue Service; Infrastructural Fund Kwara (IFK); Harmony Holdings Limited; amongst others.
Former governor of the state, Alhaji Abdulfatah Ahmed, under whose tenure the funds were supposedly withdrawn, described the allegations as “preposterous, naive, unspecific and generally unfounded”.
Finance
Deficits and Subsidies
While Nigeria is battling with its mounting debt of over N40 trillion and debt servicing commitments that consume virtually all of its revenue, Minister of Finance Zainab Ahmed, says the government plans to exceed its borrowing limit in 2023.
Zainab Ahmed said the FG intends to borrow over N11 trillion and sell national assets to finance the budget deficit in 2023.
Ahmed says we have 2 options (both are bad): either the subsidy ends by June 2023, for which the deficit will be N11.30 trillion, or keep it for the entirety of 2023 of the year and end up at N12.42 trillion.
The FG already said they intend to shut off subsidy after Buhari’s tenure ends in 2023, so I guess the first option is our choice?
Customs comptroller-general Hameed Ali’s question comes to mind: does the FG actually need to be spending the amount they are in subsidy?
Read more here
Experts are begging the FG just to stop borrowing. These plans are way above what Nigeria’s borrowing limit is.
++ Despite improved earnings and dividend announcements from listed companies, investors in the Nigerian Exchange Limited (NGX) equities sector lost N283 billion (1.07%) of the market value in August. Guardian NG speculates that the loss is due to global uncertainty and Nigeria’s prevailing macroeconomic challenges (insecurity, low purchasing power, and the 2023 election).
Nigeria’s income
The National Bureau of Statistics (NBS) says the Information and Communication Technology (ICT) sector contributed 18.44% to ‘Nigeria’s Gross Domestic Product Report’ for Q2 2022.
This is as the Minister of Industry, Trade, and Investment, Mr Niyi Adebayo, said Nigeria is currently working to “establish a strategy for e-commerce that will boost the growth of the sector”. Not the overlapping excessive taxes from three weeks ago.
Education
ASUU strike update:
ASUU has decided, after six months of their industrial action, that the strike is now indefinite. The phrasing is different. They usually say they’re extending their strike until the government meets their demand. However, this week, they admitted that there are no signs of reconciliation, so the federal universities in the country will be closed for educational activities until further notice.
While communicating this development, the union said the protest is a measure to save Nigerian public universities from collapse due to neglected governments.
They said they sympathise with Nigerian parents and students but will not resume until demands are met.
The Union President, Emmanuel Osodeke, urged President Buhari and his government to emulate former president Goodluck Johnathan’s strategy when he was in office “Both sides were open, no class, no power, no sitting power, and we looked at all the issues, and we resolved it within 14 hours”.
The academic union stated that the FG has “demonstrated lack of interest and sincerity in addressing infrastructure decay and persistent brain drain in the Nigerian university system”.
The union says the strike won’t end until the FG reverts to the new draft agreement of the 2009 FGN/ASUU renegotiation committee.
In response, students are protesting. The South-South Youth Organisations (COSSYOR), has threatened to shut down Abuja with a peaceful protest over the lingering strike. They said ASUU deciding to make the strike indefinite due to the FG’s unwillingness is insensitive.
While the Federal strike is ongoing, the Senate Committee on Tertiary Institutions and Tertiary Education Trust Fund (TETFund) is proposing that the government increase institutions' tertiary tax from 2.5% to 3% to improve research and development in the country.
Not sure where they want to research and develop if all the schools are closed.
Out-of-school children
In addition to the university students now out of school due to the strike, the United Nations Educational, Scientific and Cultural Organisation (UNESCO) revealed that Nigeria now has about 20 million out-of-school children. “The top three countries with the most children and youth (ages 6 to 18) excluded from education are India, Nigeria and Pakistan”.
The global body added that no gender is more likely to receive an education than the other now: the new estimates confirm that the difference in the rate of girls and boys out of school has been considerably reduced.
Security
Military vs terrorists
The Nigerian Army in Kaduna engaged in a shoot-out with terrorists from their den in Birnin Gwari local council of the state and rescued 3 kidnap victims - Guardian NG
The Nigerian Air Force reports that two fighter jets killed at least 49 Boko Haram terrorists in their Sambisa Forest hideouts in Borno State this week.— Guardian NG
The Army says they also “neutralised” IPOB/ESN members in Imo state. They said they recovered explosives from the assailants.— Channels TV.
But as the military neutralises and apprehends terrorists, kidnappers and other criminals, the FG continues to create avenues to pardon those caught alive. The military is over it.
Nigeria’s Chief of Defence Staff (CDS), General Lucky Irabor, said the Nigerian government’s decision to rehabilitate terrorists or delay their trials is undermining efforts at curtailing security threats in the country.
“The processes involved in criminal investigation, trial and prosecution in Nigeria are cumbersome, leading to delay in the arraignment to suspected terrorists and other violent non-state actors held in different correctional centres across the country”. He said the delay implies to criminals that they will not be held accountable, hence the uptick in security issues.
“The recent upsurge in attacks by terrorists on correctional centres in the country can be viewed as part of efforts by the criminals to free their colleagues who have been in detention over time”, he added.
Meanwhile, Southern Kaduna Peoples Union (SOKAPU) urged the Federal Government to immediately contain the formation of an armed group, Fulani Vigilance Group, forming in Benue State.
The union said if this group is formed, it will act as a green light for other ethnic groups to form their own security force, which could lead to a civil war.
The FG has not responded or shown any signs of addressing this concern
More Okada ban?
In May, the Lagos Governor, Babajide Sanwo-Olu, approved banning commercial okada from 4 more Local Government Areas and six Local Council Development Areas (LCDA), including: Kosofe (Ikosi-Isheri and Agboyi-Ketu LCDAs); Mushin (Odi-Olowo LCDA); Oshodi (Oshodi-Isolo and Ejigbo LCDAs), and in Shomolu (Bariga LCDA). The ban was to begin on the 1st of September.
At the time, Sanwo-Olu said the ban was to manage security issues, many of which he said were linked to criminals disguising as commercial motorcyclists.
Before last month's ban, security agents had already started to show force. They reported that they apprehended over 13,000 illegal motorcycle riders in August.
FYI:
The Federal Government has warned Nigerians against travelling to Northern Cyprus due to the human rights abuses meted out to Nigerians. Over 20 Nigerians have been murdered in the region, and the FG “can’t do much for you there”, says chair of the Nigerians in Diaspora Commission (NIDCOM), Abike Dabiri-Erewa - Nairametrics
Politics
Is everyone leaving APC?
Former Senate President Dr Abubakar Bukola Saraki went to Kwara State over the weekend to welcome over 10,000 Aggrieved APC Members Defect to PDP in Kwara - ThisDay Live
19,500 APC members defect to PDP in Buhari’s senatorial zone - Guardian NG
Also: The presidential candidate of PDP, Atiku Abubakar, went to Kano State to welcome Ibrahim Shekarau, a former Governor of Kano State, who is expected to return to the party from the New Nigerian People Party (NNPP).
Other news
Nigeria displaces South Africa as Korea’s biggest African trade partner - Guardian NG.
President Buhari approved the appointment of his brother-in-law Ahmed Halilu as the Managing Director of Nigerian Security Printing and Minting Company, on the recommendation of CBN president Godwin Emefiele. Halilu has a Bachelor’s in Agriculture B. (Agric), Masters in International Affairs and Diplomacy and over 23 years of experience in the banking industry - Daily Post.
Socio-Economic Rights and Accountability Project (SERAP) has written to President Muhammadu Buhari on the recent repatriation of $23 million stolen by the late General Sani Abacha. They want details on how the money will be spent - Channels TV
Delta Airlines has joined Emirates and British Airways flight suspensions. The airline has suspended New York to Lagos flights from Oct 4 - Sun News Online
Nigerian lawyer detained for ‘contempt’ regains freedom - Guardian NG
Nigeria partners with Israel and Japan to manufacture electric cars - Business Day
Local airlines refute ploy to ‘defraud’ sector of N45.29 billion - Guardian Ng
Nigerian airlines owe NCAA over N19 billion, $7.8 million. Aviation authority demands payment in 1 month - Nairametrics
Interesting things on the internet
James Choi, a professor at Yale University, says all the personal finance advice you’ve read might be wrong- The Atlantic.
What do your parents lose when you migrate? A mother with 2 out of 3 children abroad shares her experience - Breach.