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Naira scarcity: Nwosu berates govs over face-off with FG, says policy is good

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Chief Okey Nwosu former Chief of Staff to Owelle Rochas Okorocha has blamed the Governors of ten States that dragged the Federal Government before the Supreme Court over monetary policy indicating that with the directive for the old N200 notes to be used along with the new one the President has shown that he cares about the common man
Nwosu who spoke in Abuja on Monday at a press briefing said the policy is a very good one adding that the president has done his homework well.
He asked rhetorically why the governors are crying when the president has taken care of the masses.
He asked thee CBN to comply with the President’s directive to produce more of the N200 notes to alleviate the suffering of the people
“Most people are blaming Buhari but he has a reason why he has stuck to this decision. Do you know that no politician can withdraw N50m or N20m in N200 denomination because he will not be able to carry it.
“So when you blame Buhari also look at the good side of what he has done.
Nwosu who is also a stalwarts of the ruling All Progressives Congress said,
“In most of the developed nations we have cashless policy but it does not mean that there will be no cash at all. What it means is that the level of cash transactions will reduce.
“I see some people carrying N20m, N30m but go to UK, and some of these countries, if you are seen holding £50 they would be looking at you, even the attendant would have to go behind the counter and the supervisor will come to crosscheck if the currency is genuine. Why? because some of them have never seen £50 in their life
“My problem is with the National Orientation Agency, through the ministry of information who were supposed to have educated Nigerians. Nigerians were not educated on the cashless policy before it started.
“It is not CBN that is to educate Nigerians. There are other government agencies that are meant to disseminate information of Government policies and that is the minister of information and National Orientation Agency
“During the time of Jerry Gana once government policy comes out the jingles will be on TVs , radios before long people will be abreast with the policy
The problem between governors, Presidency and the masses, no politician in his right senses will want to see people that will vote you suffer because of currency redesign.
“Who among the politicians, the Governors will go to UK and bring out £100, 000 or even £50, 000 cash? They don’t do that.
“In every society once there is a new policy there must be some pain but after sometime they will be used to it
He said what he gained from the policy, is the fact that praise singers at events can no longer make him to part with money as before.
“Before now if you go to a function you see praise singers, you bring out N5000, N10000. D you know that the last one I went I told them I don’t have cash, they asked for transfer to their account number, I told them the network was failing. They were just looking at me. It has saved a lot of wastage.
He said the rural dwellers who would have been worse hit, have been taken care of with President Buhari’s approval for the N200 to be used along with the new N200 note
“What we should do is to also comply with what the President has said that the N200 naira notes which is the common denomination of the rural people be made available

Is it ripe for us to fully begin the implementation of the cashless policy

Let me start with the National Orientation Agency.  It KS an agency under the ministry of information and I believe ghat the minister of information have access to the president.  I have not heard the minister say that they are cash trapped,  remember we have some government media,  NTA,  NAN,  Radio Nigeria hoe many times have you heard
Take the location that is coming,  is it not the duty of the National Orientation agency.  I saw INEC, Parties doing the voters education
“It is the duty of the National Orientation Agency and ministry of information to highlight how people should vote uphill now we have not seen them do that
“They don’t need to pay NTA or radio Nigeria so there are some government agencies you can start from first, everything cannot be money. 

“When the head of any agency is wrong the entire agency will be wrong. So we blame the ministry of information and the National Orientation agency for not being able to disseminate the messages of the policies of President Muhammadu Buhari in Rural areas

“Every policy comes with it its own side defects but it takes time for people to get used to that policy. Before now do we do internet transfer? Everybody goes n.  I remember when we used to go to NITEL very early in the morning or late in the night to make calls
“Before now people go to bank to fill forms and submit to do transfer but now they do that with their phones so things come bit by bit.  I am of that within a short period of time,  this shouting and crying we are having now,  things will soon come back to normal but it depends on the agencies that are concerned.
“CBN should be able to put more cash into the system.  They should print more of the N200 notes
“The banks are also a problem, whether you like it or note some of the banks will take the cash and give to the politicians. We have to beam search lights on those banks. I thank God that the EFCC, ICPC and some of the government security agencies are on their trail so let them beam their searchlight on banks.”

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Why oil production has not commenced in Nasarawa despite huge deposits, expert

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From Daniel Abel, Lafia

Manager, Asset Integrity, NNPC-ATAMS Producing Dr. Musa Adamu has disclosed that production of oil in Nasarawa is being faced with some challenges hence the delay as they are still in the process of drilling to reach the reservoir.
Dr. Musa gave the hint in an interview with journalists in Obi, Obi local government on Tuesday.

Dr. Musa who doubled as Chairman, Obi Oil and Gas Exploration Committee explained that the current drilling activity is the Ebenyi 1 drilling site by ENSA, a branch of NNPCL in Obi.

The petroleum expert with thirty years of field experience disclosed that the estimated depth to reach the oil deposit has been narrowed the drilling is approaching a large reservoir of oil.

“When we get to the reservoir we will know the quantity and lifespan of the deposits.

He stated that there are some challenges which are not only peculiar to the Obi oil drilling as he expressed the hope that soon oil production will commence.

The Obi oil drilling which was commissioned by the formal president Buhari in March 24, 2023 is yet to commence production one year after as drilling is currently ongoing.

Musa a petroleum engineer with thirty years feild experience in so many state and currently serving as manager with the NNPC in Rivers State, assured that oil production will soon commence in ernest

Musa however noted that the reason for the delay in production is because of the physical challenges being faced in the drilling process.

Dr. Musa identified breakdown of drilling equipments and the long process of fixing of those equipments as being responsible for the delay in production, which according to him is normal.

“The equipments we are using are foreign made and because of the present stage of the drilling, breakdown of those drilling equipments is anticipated.

“Replacing those drilling equipments take time because they are imported, and you know the process of importing heavy equipments. That is the reason for the delay, but we are getting closer to the reservoir.

“We can’t tell you exactly when the drilling will be over because of the unforeseeable challenges. By God’s grace we will soon reach the target level where we will have the first oil.

He however explained that the result of previous exploration revealed that there are four major oil deposit sites in Asakio, Agwatashi, Keana and the present site where drilling is taking place in Obi.

He explained further the outcome of the exploration shows that the probability of huge deposit in those oil wells is above 70 per.cent.

“In some places in Keana the presence of oil deposit are overtly visible. You can even see spills in some places and when you fetch them it produces the odour of gas and fuel. That shows the huge oil deposit in such areas but drilling is yet to commence.

“The quantom of oil deposit from result of exploration amount to economic oil. It is not enough to discover oil and go into drilling. You must be sure the deposit amount to economic oil.

“The oil deposits in those wells is an equivalent of economic oil. The communities, State and the federal government stand to make huge profits when oil production kick start.

Dr. Musa highlight other challenges earlier faced from residents on compensations of lands where the well was discovered.

The challenges included multiple claims of land ownership by residents, but had been handled by the traditional ruler of Obi

“The traditional ruler, Alh. Aliyu Dangiwa Ogiri, the Osukwo of Obi constituted a special committee on Oil and Gas of which I am the chairman.

“The committee has help resolved so many hitches that would have spark out youth restiveness but we have intervened in and proffer solutions that he help to create a conducive working environment to the NNPCL in the community.

“The host community through the intervention of the committee are currently enjoying some benefits such as youth empowerment, scholarship.

“Over 70 per cent of the labour at the drilling site is done by youths from Obi. The NNPCL has given scholarship to some youths who showed interest in some professional career who will be employed when oil production starts proper.

Musa also hinted that the youths are happy with the current activities that has engaged them profitably and are even providing security apart from the conventional security in and around the drilling site.

As parts of their Corporate Social Responsibilities, street lights, access road and other Social amenities have been provided by the NNPCL who promised to do more as work at the site progresses.

Musa explained however that with the relationship between the host community and the NNPCL challenges being faced in some oil producing states which led to protracted youth restiveness would be greatly curtailed.

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Ex-IPAC legal adviser tells Tinubu not to delay the regulation of prices of food items

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***Naira Gains and Losses – Product of APC’s Ineptitude

Former National Legal Adviser  Inter Party Advisory Council of Nigeria (IPAC) Barr. Chukwudi Ezeobika has raised issues over skyrocketing prices of goods and services amidst speculations on a daily basis that the Nigerian Naira is gaining value against the American dollar

Ezeobika who was also a Candidate Anambra South Senatorial District (2018) gave the indication in statement on Sunday.

He said the presumption of gains in the Nigerian currency may be erroneous as they are without the consequent effects on goods and services as the average Nigerian is yet to feel the impact

“The reason for this indescribable phenomenon, just as we have in every sector of the Nigerian economy, is indeed not far-fetched. The wilful resolve by the Bola Ahmed Tinubu – led APC government to continually deceive Nigerians amidst the glaring economic recession and crisis. 

“It is erroneous to yield to the belief that the Nigerian currency can ever make any gains against the American dollar or its economy relevant in the global stage if the country is unable to produce the basic goods and services required by it, to build and develop its dilapidated and or non-existent infrastructure in critical sectors of the economy such as health, power, transport and agriculture. 

“All known indices of economic recession are currently prevalent in the Nigerian economy as can be seen in high and unprecedented costs of goods as well as services and the continued manipulation, by the current administration,  of the Nation’s currency, against the will of the Nigerian people.

“The Federal and State agencies saddled with the responsibility of regulating the prices of goods, most especially food items which are basic to an average Nigerian, have become either obsolete or 

non-existent, hence, the absurdities prevalent in the prices of food commodities such as rice, yam and beans, in most Nigerian markets.  

“The current administration has wilfully and consciously chosen to continue the path of its predecessors by propagating ill-conceived social and economic policies and engaging in projects that are purely unconnected and at variance with the well-being of its citizens.  

“The Nigerian Legislature ought to, as a matter of urgency, re-discover its essence in enacting relevant laws which have direct bearing on the lives of ordinary citizens, re-position itself in its oversight functions and periodically justify the huge budgets passed yearly to maintain the legislative arm of the Nigerian government. 

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Ganduje: Northern Patriots accuses Kano Gov of lack of Clear Agenda

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***Say, he is Progressing In Error

The Northern Patriots (NP) has take a swipe at Governor Abba Yusuf for lacking in any clear blueprint or agenda for the people of Kano State.

Comrade Dominic Alancha, the national president of the group, gave the indication during an interview on TVC’s Journalists Hangout on Sunday.

According to Alancha, the governor has instead resorted to a witch-hunt and political vendetta against his predecessor Alhaji Umar Ganduje all in the name of a probe.

Comrade Alancha indicated Governor Yusuf is progressing in error as his perceived case against Ganduje is dead on arrival as it is not within the jurisdiction of the state to probe him.

The Northern Patriots, however, advised the governor to focus on governance and if indeed he wants to recover state funds, he should look the way of Senator Rabiu Kwankwaso.

“It is unfortunate that Governor Abba Yusuf is progressing in error. Instead of focusing on advancing governance, he is out for a witch-hunt and political vendetta against his predecessor,” he said.

“I don’t think that he is aware that there is a judicial pronouncement on this matter. The state can’t prosecute Ganduje, it is the responsibility of the federal high court.

“For me, this case is dead on arrival. If he’s transparent enough, he should have gone back to 2011 or even beyond to probe his political godfather because there are a lot of accusations against Senator Rabiu Kwankwaso of corruption and misappropriation of state resources.

“For example, in 2011, there was a 5km contract purportedly allocated to each of the 44 LGAs. Unfortunately, to date, 1km of that road has not been constructed.

“If any probe is to be done, it should be based on transparency and accountability. But this whole case is diverting the attention of the people from seeking transparency and good governance from the governor.

“Abba has nothing to point out as his achievement in the last 11 months. Rather, he is busy setting up committees to probe his predecessor.

“I think it is proper for him to sit down and make his priorities known. He should set out a clear agenda for the people. ”

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