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PDP Governors List Failures of Buhari Administration

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PDP Governors

By Modupe Gbadeyanka

Governors elected under the platform of the opposition Peoples Democratic Party (PDP) have lamented the excruciating hardship and suffering Nigerians are currently going through.

The Governors under the PDP Governors’ Forum said the ruling All Progressives Congress (APC) has turned the country upside down, making life very difficult for citizens.

They said the lives of Nigerians under the administration of President Muhammadu Buhari have been miserable unlike when the PDP was in power from 1999 to 2015.

At the end of their meeting in Aba, Abia State, they said the opposition party was ready to “take over and offer qualitative leadership options to rescue the nation,” appealing to Nigerians “to reject the APC” in the 2023 general elections.

They claimed the failures of the ruling party as below;

Diesel which is critical for the running of SMEs was N131.47 in 2015, it now costs above N700

  1. Fuel: Official and Black-Market was N87/155 in 2015, it now costs N167/350.
  2. Aviation Fuel/Air Ticket Rate on Domestic Flights was N110 per Litre/N18,000 in 2015, it now hovers around N700 per Litre/N70,000, where available. Indeed, the scarcity of fuel that has resulted in the loss of several man-hours is a disgrace to Nigeria.
  3. The collapse of the National Grid (126 times in 7 years – (June 2015 to March 2022) and its consequences for non-availability of power is most unfortunate.
  4. Kerosene (NHK) used by the ordinary Nigerian for cooking and power was N180 in 2015, it now sells at N450.
  5. Liquefied Petroleum Gas (LPG) – 12.5kg Cylinder sold for N2,400 in 2015, is now sold at between N8,750 and N10, 000.
  6. Prices of basic foodstuffs are now three times higher than what they used to be in 2015. Staple foods such as rice, beans, cassava flakes are now slipping out of the hands of average Nigerians. Indeed, a Bag of Rice sold for N8500 in 2015 is now N39,000.
  7. Electricity was N14.23 per kilowatt in 2015, it is now N38.530, and not even available.
  8. The unemployment rate was 11.4% in 2015, it is now over 33%, one of the highest in the world.
  9. The poverty rate in 2015 was 11.3% but now about 42.8%.
  10. Accumulated Inflation in 2015 was about 4%, it is now 15.50%; Inflation Rate was 9.01% in 2015 and now 15.7%.
  11. Perhaps the Exchange Rate has been one of the most disastrous. N150 to a dollar was the parallel market (patronised by most businessmen and Nigerians) rate in 2015, it is now about N580 to $1 in the parallel market and still rising.
  12. Debt and Debt Servicing: Domestic Debt of N8.4T and External Debt of USD 7.3b was incurred between 1999-2015.

While Domestic Debt of N7.63T (June 2015-Dec 2020) and USD28.57b as at Dec 2020 was incurred.  External debt of USD21.27b was incurred between June 2015 and 2021.

  1. National Debt to GDP Ratio was 23.41% (2016) it is now 36.88% (2022).
  2. The Corruption Index has risen from 136 in 2015 to 150 now.
  3. Nigeria’s Misery Index, an indicator used in determining how economically well off the citizens of a country are, is usually calculated by adding the seasonally adjusted unemployment rate to the annual inflation rate, which has moved from 14.75 per cent in 2015 to 50.48 (2021).
  4. The major threat to the agricultural sector and food security in Nigeria is insecurity. In the northeast of Nigeria, it is estimated that no fewer than 70,000 hectares of arable farmland have been abandoned in the affected States and Local Government areas. The trend is the same all over the country. This further contributes to food inflation. The APC led Federal Government must take steps to cooperate with States to bring security down to the grassroots.

In addition, the Governors accused the Nigerian National Petroleum Company (NNPC) Limited of siphoning money with the support of Mr Buhari, who doubles as the Minister of Petroleum.

“The PDP Governors once again decried the inability of the NNPC to make its statutory contributions to the Federation Account, in spite of oil selling at above $110. It is patently unconstitutional for NNPC to determine at its whim and discretion when and what to pay to the Federation Account, as it is a mere trustee of the funds for the three tiers of Government: Federal, States and Local Governments. We once again, call for investigations and audits of the quantity of consumption of fuel ascribed to Nigerians and for the deployment of technology at the filling stations to determine in a transparent manner the volume of consumption.

“The Governors would resist any further attempt by NNPC to ascribe unsubstantiated subsidy claims to other tiers of government.

“NNPC deducts N8.33 billion monthly for the rehabilitation of the refineries in Nigeria. To date, no refinery is working.

“On priority projects of the nation’s oil industry, NNPC deducted N788.78 billion for various investments between 2018 and 2021 without recourse to FAAC.

“NNPC in 2021 alone claimed to have paid over One Trillion Naira as petroleum subsidy. Indeed, in the month of March 2022, N220 billion was deducted as oil subsidy with a promise that N328 billion will be deducted in April 2022. This is unacceptable.

“NNPC and FIRS, as well as other remitting agencies, continue to apply an exchange rate of N389/$1 as against the Import and Export window of N416/$1. The extent of this leakage can be better felt if this rate is compared to the current N570/$1.

“From available records about N7.6T is withheld between 2012 and 2021, by NNPC from the Federation Account. All these are said to be payments for oil subsidies.

“Conclusively, we believe that all these leakages in NNPC have been made possible because the President is also the Minister of Petroleum. The urgent separation of these two portfolios has become necessary,” they alleged.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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GE Reduces Emissions With Mobile Gas Turbines

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mobile gas turbines

By Adedapo Adesanya

General Electric (GE) has announced that its mobile gas turbines, typically used for emergency use, cannot only meet the emissions requirements in line with World Bank Standards but even surpass them and meet the most stringent emissions standard requirements.

In the State of California, GE developed an innovative technical solution on four TM2500 aero-derivative gas turbines deployed at the Department of Water Resources (DWR) sites in Yuba City and Roseville. The solution reduced nitrogen oxide (NOx) and carbon monoxide (CO) emissions by over 90 per cent, surpassing World Bank Emissions Standards. It marked the world’s first-of-a-kind solution on a GE mobile TM2500.  The technology helped lower emissions while supporting the statewide energy grid during extreme climate-driven events, including drought or wildfires.

Speaking on the advancement, Mr Clive Nickolay, CEO of GE Gas Power’s Aeroderivative business line, said, “GE’s aero-derivative mobile technology, typically used for emergency power, represents a perfect complement to renewable energy and peaking power use cases worldwide.

“We’re excited about GE’s efforts to provide power plant operators with a technical solution that will allow them to quickly install peak power when needed while drastically reducing NOx and CO emissions levels to low single digits.”

The technical solution includes engineering studies for the integration and installation of a Selective Catalytic Reduction (SCR) technology system—a proven and effective solution to limit post-combustion emissions.

The technology works by removing common emissions through a catalytic converter transforming the nitrogen oxides contained in the exhaust gas into water vapour and nitrogen.  The new solution unlocks dramatic enhancements to emissions performance while ensuring the TM2500 can provide reliable, affordable, and lower-carbon electricity to the grid.

At Yuba and Roseville, GE worked with the engineering, procurement, and construction company Kiewit Power Constructors Co. to install the world’s first-of-this-kind solution on a GE mobile gas power turbine to solve DWR’s emissions challenge. The emissions control solution includes 11-meter-high modules and a 22-meter-high stack.  Each of the four TM2500 can produce up to 34 megawatts (MW) of electricity for a total of 136 MW and is now equipped with a system to reduce pollutants to 2.5 parts per million, the legal limit set by the state of California.

Adding his input, Mr Nosizwe Dlengezele, Regional Sales Executive for GE Gas Power business in Sub-Saharan Africa, said, “Sub-Saharan Africa has one of the world’s fastest-growing populations, and natural gas offers a solution that’s more efficient and flexible to enable the integration of more renewables to the grid and ultimately reduce emissions.

“Our TM2500 aero-derivative gas turbines are installed in countries such as Nigeria, Angola, and Ghana, to provide much-needed power because of its enhanced mobility, easy installation and critical grid backup. It also has lower emissions than diesel generators when operating on gas, and the availability of an SCR solution will now enable our customers to further reduce NOx and CO emissions by 90 per cent.”

A key feature of the TM2500 units is its fast start ability providing full power in five minutes. This provides utilities and grid operators like   California Independent System Operator (CAISO) or the Western Area Power Authority (WAPA) the ability to quickly support the grid in case of emergencies or loss of intermittent power.

The quick start capability was successfully put to use when the units were brought online to support a strained statewide energy grid during California’s extreme heat wave on Sept 6, 2022.

GE’s trailer-mounted TM2500 is derived from jet-engine technology powering the world’s airlines and is mounted on a wheeled trailer for ultimate mobility. With more than 20 years of experience and over 300 units installed around the world, GE’s TM2500 is a proven solution for providing a baseload bridge to permanent power installations or for generating backup/peak power in the wake of natural disasters, plant shutdowns, grid instability or in isolated locations.

GE powers plants that deliver flexible, efficient, and reliable power to millions of people around the world. With almost 70 years of presence in Sub-Saharan Africa, GE has been collaborating with energy stakeholders to deploy innovative technologies tailored to respond to the needs of the Sub-Saharan Africa region with reliable baseload and flexible power. GE delivers across the entire energy ecosystem from generation to transmission and distribution, and throughout the region, GE-built technologies are supported by GE local service and maintenance teams working together to help ensure access to reliable and sustainable energy.

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Senate Threatens to Withhold 2023 Capital Budget of State House, Others

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State House 2023 capital budget

By Adedapo Adesanya

The Senate has threatened to withhold the 2023 capital budget of 100 federal Ministries, Departments and Agencies (MDAs) until they answer the queries raised against them by the Auditor General for the Federation.

Senate President, Mr Ahmad Lawan, issued this threat on the floor of the upper chamber of the National Assembly on Wednesday while ruling on a point of order.

The threat followed a point of order raised by the Chairman of the Senate Committee on Public Accounts, Mr Matthew Urhoghide, who informed his colleagues that some agencies refused to appear before the team despite invitations sent to them.

Some of the MDAs include the State House, Office of the Accountant General of the Federation, Ministries of Interior, Transportation, Mines and Solid Mineral Development, Information, Communication, Petroleum, Defence, Police Affairs, and Sports.

Others are Works and Housing, Women Affairs, the State House, Presidential Fleet, Nigeria Security and Civil Defence Corps, Independent National Electoral Commission, North East Development Commission, Nigerian Intelligence Agency, and the Nigerian Air Force, among others.

The queries covered in the auditor general’s report are from 2015-2018.

Speaking, Mr Lawan upheld Mr Urhoghide’s point of order and insisted that the public officers who utilised funds appropriated to their MDAs must give account.

He said, “Your point of order is sustained fully and completely, totally sustained; you are right on the dot to bring to the plenary your grievances.

“Secondly, I once served as Chairman of the Public Accounts Committee for eight years. My only problem is when you write agencies, and they refuse to honour the invite, you’d many times be forced to bring them through a warrant of arrest.

“Reading this list at plenary gives the agencies the opportunity to know now if they were not aware before for those that may claim ignorance.”

The Senate then gave the agencies a one-week deadline to communicate with the committee and set a date to appear before them or have their capital budgets withheld.

“I am taking the opportunity here to advise that in the next one week, if the name of any agency is here, that agency should reach the Committee on Public Accounts of the Senate to sort out when the agency would appear before the committee.

“If there is no communication whatsoever and no cogent and verifiable reason are given, we will slash the agencies’ budget.”

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EFCC Auctions 435 Cars in Lagos [Photos]

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auctions 435 cars

By Modupe Gbadeyanka

About 435 cars will be auctioned by the Economic and Financial Crimes Commission (EFCC) in Lagos between Wednesday, December 7 and Thursday, December 8, 2022.

A statement issued by the commission said this is in line with the EFCC (Establishment) Act 2004, Public Procurement Act 2007, and the Proceeds of Crimes (Recovery and Management) Act 2022.

The vehicles are among those forfeited by corrupt persons, and the courts have given the agency the authority to seize them.

The cars, which pictures were conspicuously displayed with allocated lot numbers for public inspection, were allocated to auctioneers based on assessed values and an open ballot system.

The display was to provide an opportunity for interested bidders to view and indicate interest in any car of their choice.

In the statement released today, the EFCC said Nigerians would be able to acquire the cars through auction at 40 Bourdillon Road, Ikoyi, Lagos; 15A Awolowo Road, Ikoyi, Lagos; 14 Cameroon Road, Ikoyi Lagos and CVU Obalende, Ikoyi, Lagos.

The nine auctioneers who were allocated to the Lagos Zonal Command of the EFCC to dispose of the 435 cars at the designated Centre on 14 Cameron Road, Ikoyi, Lagos, are Rihanna Auction Limited; Kamyus Consult Limited; Areogun Resources  Limited; BIS N JEG; Integrated Services Nigeria Ltd; Mau & Sons Ltd; Langar Aghaji & Co; Fagobe Company Ltd and Musa Kira and Co.

At the inspection of the items for sale on Tuesday in Lagos, the Secretary to the Commission and Chairman of EFCC Asset Disposal Committee (ADC), Mr George Ekpungu, said, “the exercise, which is the first of the planned auction of forfeited properties across EFCC Zonal Commands and EFCC headquarters, is being carried out in accordance with the (Establishment) Act, 2004, Public Procurement Act, 2007 and Proceeds of Crimes (Recovery and Management) Act, 2022.

“It is being conducted in conjunction with the Bureau of Public Procurement to ensure compliance with all extant laws.”

While welcoming the auctioneers to the centre, he expressed his gratitude to sister agencies, including the Nigerian Army, who were invited to provide adequate security and ensure orderliness.

Mr Ekpungu also appealed to the members of the public present at the auction to listen carefully to the auctioneers and comply with all stipulated guidelines.

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