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Atiku canvasses restructuring at LBS, Obi replies Soludo

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Atiku canvasses restructuring at LBS, Obi replies Soludo

Presidential candidate of Labour Party (LP), Peter Obi, yesterday, gave a response to the opinion piece penned by the governor of Anambra State, Prof. Chukwuma Soludo, setting the stage for a feisty verbal exchange between the two leading lights of Anambra and the Southeast region.

Reacting to Soludo’s treatise titled, ‘History beckons and I will not be silent (Part 1), where the governor disclosed that the investment he (Obi) left in government was worth close to nothing and the LP candidate can’t win the 2023 presidential election, Obi said he did his little as governor of Anambra and urged the incumbent governor to do his best in the state as an economics professor.

Speaking at the 2022 Lagos Business School (LBS) Alumni Conference, Obi described Soludo as his brother.

“He (Soludo) remains my brother, we are very close. I remain prayerful for him. For other things, which I didn’t succeed, God has given him opportunity to do it and succeed. So, if there is anything pending, governance doesn’t finish, people are still in government in America, so, you stop where you will stop, other people will continue from there.

“He is the governor of the state; he is my senior brother, he is even more intelligent than me, because he is a professor, I am a trader, so, he knows more and will be able to do things better than I did.

“I have done my little as a trader, now the professor is there, he will do his own as a professor, the schools I didn’t roof, he will roof them, that’s how government goes.”

The former governor said he left office with N75 billion savings, adding that his administration saved $50 million each in Access, Diamond and Fidelity banks with an interest rate of 6.5 per cent.

He further clarified: “The one they said is worthless, we invested N3.5 billion in International Breweries. That facility is there employing directly and indirectly over 10,000 Anambrarians. The shares were at a time being sold at N50, today, the share is about N5 or so.

“When you spread your investment, some will go up some will come down but overall the company is still there, the company is still doing well, it is still part of the global chain. I needed to explain it not because I am defending comments by my brother,” he said, adding that he left the office without owing any contractor or supplier who had executed his or her job.

ALSO joining the fray, the apex Igbo socio-cultural organisation, Ohanaeze Ndigbo, lashed out at Soludo over his statement, saying it has dragged the governor to two deities in Igbo land, for discrediting the legacies of Obi.

The group in a statement signed by its Secretary-General, Okechukwu Isiguzoro, said: “Ndigbo have dragged Soludo to the two famous divinities and deities (Chokoleze in Mbaise and Ubiniukpabi in Arochukwu) for his unreasonable public behaviour.

“Soludo’s actions are ridiculous, unreasonable and premature; there was no locus for the governor’s outburst and the sanctions against Soludo to face Igbo deities will serve as a deterrent to Southeast politicians who have been hired by enemies of Ndigbo and Nigerians to derail Obi’s presidency in 2023.

“Soludo exposed and indicted himself of treachery when he discredited the All Progressives Grand Alliance (APGA) and LP presidential candidates as not viable alternatives to win the 2023 elections. How can a governor of two presidential candidates (APGA and LP) make such a public declaration?

“We advise Soludo to concentrate on the current crisis in Anambra and stop casting innuendo and aspersions on the person of Obi,” the statement said.

In the same vein, National Chairman of LP, Julius Abure, described comments made by Soludo as remarks borne out of jealousy.

Abure said Soludo, who was at some point the Governor of Central Bank, would first speak condescendingly about a sound investment decision made by Obi.

“Even Soludo rose on the legacy of Obi, because Obi was the first governor that rose to power through the APGA platform. Obi built the party, consolidated it and worked for the people of Anambra, which gave people confidence to continually vote for APGA.”

He further said that Soludo’s recent tirades is confirmation that Obi’s ambition is not an Igbo project but pan-Nigeria.

“This project is certainly not about Umunna! Even brothers and sisters normally disagree. It is a Nigeria project.”

MEANWHILE, the duo of Obi and presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, yesterday, revealed their security and economic plans for the country at the LBS conference.

The sessions, which was moderated by Franklin Ngwu, an associate professor of strategy, corporate governance and risk management at the Lagos Business School, and Muda Yusuf, founder/CEO, Centre for the Promotion of Private Enterprises (CPPE), was tagged: “The Leadership Imperative.”

Specifically, Atiku said that the review of the Constitution is highly essential to the unity of Nigeria, as his administration will pursue it with all seriousness if he wins next year’s presidential election.

The former vice president maintained that there would be a convergence, noting that what is currently at play with multiple exchange rates hurts the private sector, which contributes about 79-80 per cent of the Gross Domestic Product (GDP).

Atiku added that his administration would privatise the oil and gas sector to generate income for the country and make Nigeria the refinery hub of West Africa.

“Up till now, our moribund refineries are not functioning and yet we are spending money on them. As far as I am concerned, we would rather privatise them, we have about three of them and we have been spending money without any production. If we had privatised them, they would have been producing today, no private sector will buy a refinery and be spending money and allow it not to be in operation.”

Speaking on inflation, Atiku said inflation is a by-product of a bad economy and once the economy is put on the right track, inflation will be controlled.

Atiku further said his agenda for restructuring is to ensure that the government becomes more efficient.

To this end, he said that he would encourage the National Assembly and state Houses of Assembly to come up with Constitutional amendments that will give more powers and resources to state and local governments.

“As Vice President between 1999 to 2007, I headed the economic team that implemented fundamental economic reforms, including the design and implementation of a private sector revival strategy.

“We focused on macro-economic stability and transforming critical areas such as banking, insurance, oil and gas, telecommunications, pension and the civil service.

“We created novel institutions for laying the foundation for good governance and accountability such as the Bureau of Public Procurement (BPE), Economic and Financial Crimes Commission (EFCC) and SERVICOM.

“With many years in the private sector, I have a deep understanding of our economy and its challenges.”

Obi, on his part, called for the overhaul of the cost of governance, thereby making it functional, adding that the structure of the country is not working.

“The cost of governance in Nigeria is unacceptable. The entire system needs an overhaul, to make it more functional, to train people more so that it will be able to bring technology for efficiency and effectiveness.”

On foreign exchange, Obi said “the rate and volatility of your foreign exchange is a function of your foreign reserve, which is directly linked to your export, because you are not a country that is productive.”

He said to control and bring stability to the currency, there is a need to export and earn dollars, saying that Nigeria cannot be 80 per cent dependent on oil that gives less than $20 billion.

Obi said the country needs to start production and export of goods, saying it is the only way to earn dollars and curb scarcity.

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FG, UNIDO partner to strengthen Nigeria’s industrial future

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FG, UNIDO partner to strengthen Nigeria’s industrial future

The Federal Government has signed a Programme for Country Partnership (PCP) agreement with the United Nations Industrial Development Organisation (UNIDO) to drive Nigeria’s industrial transformation.

At the signing ceremony in Abuja on Wednesday, the Minister of State for Industry, Sen. John Enoh, emphasised the significance of the agreement in repositioning the country’s industrial sector.

Enoh said that the partnership aligned with Nigeria’s commitment to rebuilding its industrial base to achieve structural economic transformation.

He said that the Industrial Revolution Work Group (IWG) had been inaugurated to coordinate the revitalisation of key industrial assets and value chains.

According to Enoh, the partnership comes at a time when Nigeria is moving with clarity and urgency to rebuild its industrial base.

He said that it would boost economic growth, and also ensure structural transformation that empowers the people and reduces dependency on primary exports.

Enoh said that the IWG, which he co-chaired with the President of the Manufacturers Association of Nigeria (MAN), Francis Meshioye, was a stakeholder platform designed to address systemic bottlenecks and fast-track industrial zone development.

The minister said that the PCP aligned with the objectives of the IWG, focusing on agro-industrial transformation, SME development, green and digital transition, and skills for industrial competitiveness.

He expressed optimism that UNIDO’s technical expertise and global perspective would enhance Nigeria’s industrialisation efforts through infrastructure development and catalytic interventions.

“We welcome your presence at the table and look forward to integrating your insights into the group’s core operations.

“Nigeria is laying the foundation for the next chapter in its industrial history by modernising institutions, reforming policies, and strengthening coordination across all levels of government,” he said.

Enoh reiterated the government’s commitment to fostering multilateral and bilateral cooperation, urging all stakeholders to transition from agreements to tangible execution.

“As we sign today, we do so with resolve not for the ceremony, but for community-medium impact.

“Let us move together from potential to productivity, from agreement to execution, and from policy to prosperity,” he said.

The Minister Budget and Economic Planning, Sen. Abubakar Bagudu, said that the PCP was expected to boost manufacturing, enhance access to renewable energy, and create opportunities for small and medium enterprises (SMEs).

Bagudu said that it would also strengthen Nigeria’s participation in the African Continental Free Trade Area (AfCFTA).

He reaffirmed the government’s commitment to ensuring the successful implementation of the programme, adding that Nigeria remained open to international investments and partnerships.

“Nigeria is determined to achieve its economic vision, and we will stay the course,” he said.

The UNIDO Director-General, Gerd Müller, described the PCP as a new phase in Nigeria’s longstanding partnership with the organisation, which dates back 40 years.

“This initiative focuses on six key areas, including industrial policy, innovation and technology, value chain development, and sustainable energy solutions.

“It will directly support Nigeria’s National Development Plan and the African Union’s Agenda 2063,” Müller said.

The UN Resident and Humanitarian Coordinator, Mohammed Fall, emphasised that the signing of the PCP marked the beginning of a long-term collaboration to drive Nigeria’s sustainable development.

Fall acknowledged the challenges facing the country but reaffirmed the UN’s commitment to working alongside Nigerian authorities and development partners to implement impactful initiatives.

He highlighted the role of UNICEF and other UN agencies in supporting Nigeria’s economic and humanitarian efforts.

He assured stakeholders that the UN remained dedicated to helping Nigeria transition toward a more resilient and self-sufficient economy.

The News Agency of Nigeria (NAN) reports that the signing ceremony was attended by representatives of Government, the European Union, UNIDO, and other key stakeholders in Nigeria’s industrial sector.

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National Park advocates carbon reduction for climate action

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National Park advocates carbon reduction for climate action

The National Park Service (NPS) has assured Nigerians of its ongoing efforts to mitigate climate change through carbon reduction.

Dr Ibrahim Goni, the Conservator-General (C-G) of the NPS, made this commitment in an interview with the News Agency of Nigeria (NAN) in Abuja on Wednesday.

The C-G stated that the approval for the establishment of 10 new national parks in the country would contribute to carbon reduction.

“The seven national parks provide a total area of vegetation of 20,000 square kilometres, and we are confident that it would sequestrate carbon by 4.8 million parts.

“This means that with the introduction of the new 10 national parks, carbon dioxide is going to be sequestrated”.

Goni further advised residents to engage in afforestation to reclaim lands that have been degraded due to erosion.

He commended the Federal Government for its efforts in carbon mediation and for planting 25 million trees to cushion the effects of climate change in the country.

Goni also expressed satisfaction with the federal government’s tree-planting efforts, describing it as a huge step towards conserving the country’s natural resources.

“In 2020, the federal government approved the establishment of 10 new national parks”.

NAN reports that the 10 new national parks are located in Alawa National Park in Niger, Apoi and Edumenun National Parks in Bayelsa, Galgore National Park in Kano state, and Hadejia Wetland National Park in Jigawa.

Others are Kampe National Park in Kwara, Kogo National Park in Katsina, Marhi National Park in Nasarawa state, Oba Hill National Park in Osun and Pandam National Park in Plateau.

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NSE lauds Tinubu on appointment of seasoned professionals at NNPC Ltd

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NSE lauds Tinubu on appointment of seasoned professionals at NNPC Ltd

The Nigerian Society of Engineers (NSE) has commended President Bola Tinubu for appointing seasoned professionals to lead the Nigerian National Petroleum Company (NNPC).

NSE’s President, Margaret Oguntala, stated this in a statement on Wednesday, in Abuja, describing the move as “putting the right peg in the right hole.”

Oguntala praised Tinubu for ensuring that individuals with vast engineering, technical and leadership experience would manage affairs in the NNPC Ltd.

She emphasised that the new leadership would usher in a transformative era for NNPC Ltd, fostering efficiency, transparency, and innovation in the oil and gas sector.

“NSE extends heartfelt congratulations to President Tinubu, on the appointment of Bashir Bayo Ojulari, as the new Group Chief Executive Officer.

“Ahmadu Musa Kida, as Non-Executive Chairman of NNPC Ltd and other board members.

“This significant decision underscores the President’s unwavering commitment to revitalising NNPC Ltd and enhances the energy security of Nigeria through the oil and gas sector.

“I commend President Tinubu for ensuring that individuals with vast engineering, technical, and leadership experience are at the helm of NNPC Ltd,’’ she said.

She said that the move aligned with global best practices in energy governance.

Oguntala said that the strategic appointment was pivotal to achieving sustainable energy security, infrastructural growth, and economic development.

She further expressed optimism that the new leadership would usher in a transformative era for NNPC Ltd, fostering efficiency, transparency, and innovation in the oil and gas sector.

She said that NSE remained committed to supporting the administration’s drive toward national development and energy sustainability.

According to her, NSE looks forward to a fruitful collaboration with NNPC Ltd under its new leadership.

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