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A report by the Economic Intelligence Unit has stated that the proposal by Nigeria's privatization agency, the Bureau of Public Enterprises, to privatize 36 state assets is likely to fail in its objective of generating revenue for the government.
It stated that despite the good aim of reducing operational inefficiencies and improving productivity, the BPE's poor record of implementing its privatisation schedule, would not yield improvement.
It referred to a claim by the director-general of the BPE, Alex Okoh, who noted that since its creation in 1999, the bureau has generated more than N1trn (US$2.4bn) from the sale, commercialisation and concession of 234 public assets but pointed out that such transactions occurred in the early years of Nigeria's privatisation programme as only a little progress had been made in the past decade.
It, however, noted that money accrued from privatisation would not compensate for the low tax take plaguing the government or an over-dependence on oil revenue.
EIU, therefore, suggested upcoming budgets to include new taxes or increases to existing taxes, in particular value-added tax (VAT).
The report partly read, “Nigeria's privatisation agency, the Bureau of Public Enterprises (BPE), plans to privatise 36 state-owned assets in 2021. The agency aims to raise N493.4bn (US$1.2bn) from selling or concessioning the assets, which include power-generation plants and free-trade zones.
“The objectives of privatisation are to generate cash for the government and in the process reduce operational inefficiencies and improve productivity through private investment. Such a large wave of privatisations is a testament to significant shortfalls in oil and non-oil earnings.
“In the first five months of 2021, fiscal revenue was 44.6% below official budget projections, and spending on infrastructure was well below target. However, the BPE has a poor record of implementing its privatisation schedule. The director-general of the BPE, Alex Okoh, said that since its creation in 1999, the bureau had generated more than N1trn (US$2.4bn) from the sale, commercialisation and concession of 234 public assets.
“But many of the transactions occurred in the early years of Nigeria's privatisation programme. Little progress has been made in the past decade. For the three years before 2020, the Federal Ministry of Finance reported zero privatisation proceeds even though revenue from sales had been expected in each year. Policymakers, who in 2019 announced a plan to reduce government equity in existing joint ventures with multinational oil companies to 40% from an average of 57.5%, undoubtedly want the benefits of privatisation.
“But the authorities have been impeded by various obstacles to relinquishing ownership and control of public assets. It is doubtful whether the BPE will achieve its 2021 target. Not only has half the year already passed, but an erratic regulatory environment for private-sector participation in public utilities (for example owing to price controls), questionable valuations of assets, sizeable liabilities held by the enterprises, litigation entanglements and public opposition to the sale of strategic state assets are all deterrents.
“Although there may be a renewed push to divest from loss-making public enterprises as a means of alleviating fiscal pressures, privatisation receipts will not compensate for an abysmally low tax take or an over-dependence on oil revenue.
“Because of this, we continue to expect upcoming budgets to include new taxes or increases to existing taxes, in particular value-added tax (VAT). We continue to expect a VAT hike to 15%, a revenue measure that appears unavoidable considering persistent budget deficits.
“However, we continue to expect fiscal deficits in 2021-25, averaging 2.9% of GDP a year."
Economy News Reports AddThis : Original Author : SaharaReporters, New York Disable advertisements :Scores of Nigerians on Thursday night protested the delay of their flight by Air Peace at the Murtala Muhammad Local Airport in Lagos.
The passengers lamented that their flight was postponed without prior notice by the airline from 8am till 8pm.
This is coming a few days after the Nigerian government said airline operators in the country must refund the full cost of travel tickets to passengers after a two-hour delay.
“On domestic flights, delay beyond one hour, a carrier should provide refreshment, and one telephone call, or one SMS, or one e-mail. They should send you an SMS or email or call you to say, ‘I am sorry, I am delaying for one hour.
“Delay for two hours and beyond, the carrier shall reimburse passengers the full volume of their tickets. For delays between 10pm and 4am, the carrier shall provide hotel accommodation, refreshment, meal, two free calls, SMS, email, and transport to-and-fro airport,” the Minister of Aviation, Hadi Sirika had said.
Data released by NACA show that in the first quarter of this year, out of the 14,662 domestic flights operated in the country, 7,554 were delayed.
Also, 562 flights were delayed out of the 1,871 international flights operated out of the country. Nine international and 149 domestic flights were canceled.
Currently, there are nine domestic airlines operating scheduled flights in the country, while 19 airlines operate international flights in and out of Nigeria, according to the NCAA data.
Travel News AddThis : Original Author : SaharaReporters, New York Disable advertisements :Six persons have been abducted at Tungan-Maje community in Gwagwalada area council of Abuja, Federal Capital Territory around 11:46 pm on Monday.
The kidnappers were said to have invaded some houses at Anguwar Dabiri and Anguwar Sarki within the metropolis.
The gunmen divided themselves into three groups before attacking three houses in the area, a source said.
The source said some of the gunmen shot into the air while leading the victims out of the community.
“Some of the kidnappers positioned themselves at strategic positions, while others entered the house and whisked the victims into the bush," the source said.
Confirming the incident, the district head of Tungan-Maje, Alhaji Hussaini Barde, noted that six persons were abducted.
“Kidnappers in Tungan-Maje have been causing a nightmare for my people. And I can tell you that since September last year till date, we have recorded nine deadly attacks by kidnappers,” he said.
Hussaini appealed to the security authorities to intervene.
CRIME Insecurity News AddThis : Original Author : Saharareporters, New York Disable advertisements :The family of a renowned Professor of Cytogenetic, Gabriel Hemnave Asenge, who was murdered by suspected assailants in Jos, Plateau State, has appealed to President Muhammadu Buhari and the Inspector General of Police (IGP), Usman Alkali Baba to help ensure that the killers of the late lecturer are prosecuted.
Asenge was until his death the Chairman, Board of Directors of the Regional Bio Research Centre, Rayfield, Jos.
He was reportedly burnt in his vehicle on a lonely road along Mararam Topp Rayfield, Jos on January 6, 2021.
Speaking to SaharaReporters, the daughter of the late Professor, Rose Momodu complained about an alleged attempt to pervert justice on the side of police officers of the Plateau State command.
Rose, who described her late father as a kind-hearted man, said the family had spent so much in paying for “tracking several numbers, cars to make arrests, fuel, everything.”
She added that the 71-year-old don was a dignified person who seldom got angry, agitated, or conflicted with others.
“All we want is justice, though the police have some suspects which I found from transfers made from my father's account. I have done most of the work; they have been detained and remanded in prison until the next hearing where they are hoping to get out on bail.
“However, the suspects insist that they only had access to his phone and not him. Even while they were detained, I was still receiving alerts from his account so I know that we don’t have the main or all the suspects.
“Also, money was transferred from his account to two people the day he was found. But up till today, the second suspect has not been arrested, although I sent them the debit alert, bank details, and the Facebook profile of the person.
“We have spent so much in paying for tracking several numbers, cars to make arrests, fuel, everything but the furthest we have got is based on my "work" of getting into my dad’s electronic mails and retrieving his alerts.
“The police are not trying hard enough to get information. They claimed they cannot force them to say anything unless they volunteer information. I feel it is because they are Muslims that they are handled with kid’s gloves.
“I don’t see how innocent people are brutalized daily by the police and then criminals are caught and they are talking about human rights. My father had the right to leave home that evening and return to his family but that right was taken away from him.”
The police had on February 11 paraded six suspects in connection with the late Asenge’s murder.
“On January 9, 2021, about 9pm, Prof. Asenge Hambeve Gabriel (68), residing at Old Government House area, Fwavei Rayfield, Jos, was reported missing at Anglo-Jos Police Station by his family members,” the state Police Commissioner, Edward Egbuka had said
“The said professor left his house on January 9, 2021, about 6.30pm in his Honda Accord vehicle with registration number: EPE 469 CU. On the morning of January 10, 2021, when nothing was still heard from him, a search party was organized.
“In the course of the investigation of the case, six suspects have been arrested, including the principal suspect, Yusuf Ahmed, who transferred money from the deceased account to a POS, from where he received cash.
“Other suspects arrested included Rufai Sabiu, Yasir Musa, Yusuf Adam, Lawan Adamu Wase, and Muharazu Mohammed, all males, of Gangere area, Jos.
“Further investigation has revealed that these suspects are a dangerous and sophisticated gang of criminals who specialize in robbing victims at gunpoint, accessing their bank details through their phones and siphoning money from their accounts.
“Already, some of their victims have come forward to make statements to the detectives investigating the case.”
Police News AddThis : Original Author : Saharareporters, New York Disable advertisements :Groups clamoring for the independence of the Yoruba nation have vowed not to relent in their campaigns.
They recently revealed plans to present their case at the 76th United Nations General Assembly scheduled to hold in September.
Ilana Omo Oodua, the umbrella body of Yoruba self-determination groups, endorsed the petition by the Nigerian Indigenous Nationalities Alliance for Self-Determination (NINAS), urging the Nigerian Government to conduct a referendum.
In a zoom conversation organized by UK-based Heritage Multimedia TV on Tuesday, one of the leaders of Ilana Omo Odua, Wale Adeniran, stated that the UN General Assembly would be an opportunity to explain the rationale behind the Yoruba nation agitation to world leaders, TheNation reports.
Adeniran, a pioneer Commissioner of Education in Osun State and former Director of Institute of African Studies at Obafemi Awolowo University, Ile-Ife said he would speak to Yoruba historian, Banji Akintoye, concerning participating in the session as part of efforts to drum support for the struggle.
The 76th session of the UN General Assembly (UNGA 76) will be held from 14th to 30th September 2021 in New York, US. The first day of the high-level general debate will be Tuesday, 21 September 2021.
Adeniran was quoted as saying, “That’s a golden opportunity for us to present our case forcefully, before the entire world.
“During that one week, tell Yoruba people all over the world to come to New York and the UN general assembly.
“I am going to tell Prof. Akintoye that we would have to be part of the event in the US.”
He also gave an update about the Yoruba nation petition submitted to the International Criminal Court (ICC).
He added, “The ball is in our court to begin to push our case and continue to shout it.
“We’ve submitted our letter and it has been acknowledged; it is now left for us to embark on aggressive propaganda for the ICC to look into the case. They are humans too.
“That we have filed a petition is not sufficient. We have to keep making noise about it.”
Meanwhile, Akintoye, also speaking at the virtual session, charged all supporters not to give up on the struggle.
While he commended the efforts of the media, he criticized those spreading rumors and fake news about Sunday Igboho.
Politics News AddThis : Original Author : SaharaReporters, New York Disable advertisements :Documents obtained by SaharaReporters have revealed how Uchechi Precious Ikebujo, a former Personal Assistant to the immediate past Group Managing Director of the Nigerian National Petroleum Corporation, late Maikanti Baru, and her alleged young lover, Anderson Newton Warribo, fraudulently took over the ownership of a company, Apres Engineering Limited from its owner, Micheal Bakare.
Anderson and Ikebujo also forged Bakare’s signature and withdrew N33 million naira between April and June 2019 from the company’s bank account in Sterling bank.
Not satisfied, the duo through their lawyer, Daniel Momoh, wrote to the Corporate Affairs Commission (CAC) and removed Bakare as the Managing Director of the company.
They also logged him out of the company’s email without notice.
Speaking to SaharaReporters, Bakare said the situation made him depressed.
He said he had written a petition to the Economic and Financial Crimes Commission (EFCC) but the anti-graft agency did not act timely.
Bakare said, “In 2017, I relocated from Lagos to Abuja, trying to recover from the shock of failure in crude business that went sour. Getting here, I started selling the idea of crude oil logistics when my next-door neighbor in Rocky Base Estate, Karu, called Anderson Newton Waribo, showed interest.
“He told me that he knew a woman identified as Uchechi Precious Ikebujo who could invest in my idea and asked how much. I said all I needed was just office space and so I asked for 7million. We bought office equipment and simultaneously registered the company with the CAC. But I was shocked how Anderson made himself a stakeholder in the company registration without even letting me meet with the angel investor.
“I felt something was not right. I ignored it as I was desperate to get back in business. I, being the idea owner, emerged as the Managing Director with N10 million share capital of N50 million total share capital. After registration of the company and opening of its account, no monetary investment was made and non of these directors showed up at the job. I was really troubled so I started checking, checking only to discover that Anderson and Precious Uchechi Ikebujo are lovers, and both work at the NNPC.
“Ikebujo was at the time the Personal Assistant to the former NNPC GMD while Anderson was employed as her chauffeur for a cover-up. Anderson was living in her mansion in Asokoro while his flat was occupied by his mother and brothers.
“Some contracts came in from the Ministry of Works and there was about N33 million in the company’s account. One night, I got series of debit alerts from Sterling Bank through my phone number. I was worried about how the money was taken without my authorization. I needed to cosign before withdrawals would be made as a signatory to the account.
“I went to the bank and was showed how they forged my signature at the CAC. They lied that I resigned and I gave my shares away to them. I wrote to the ICPC and EFCC but they never responded until I got scared for my life and went underground as I was being threatened.
“Officials of the CAC must have connived with them because CAC never consulted me as MD of my company. The mysterious lawyer involved claimed I signed at his office. EFCC later called me for interrogation. Anderson was arrested and bailed without even inviting me to witness the arrest. The IPO in charge, Joseph Agboola, let him go without even involving Ikebujo. My lawyer, Barrister Tope Oloyede, expressed dissatisfaction with how the case was being treated but the IPO and his colleagues ganged up against him.
“There was no proof that I signed out of the company and most importantly, there was no financial exchange of my N10million share, yet this IPO called Agboola was forcing me to admit it.
“He took about 59 samples of my signature for forensic test and he never got back to me till date. If I called him, he would snap at me and end the call.
“Sterling Bank replied the petition I wrote that it was not in the position to ascertain or authenticate a forged document and that was why they never called me to find out if I thoroughly signed out my position in the company.”
Apart from the fraudulent act perpetrated by Anderson and Ikebujo, the action is also against Nigerian law which forbids public officers from engaging in private practice.
Part I, Fifth Schedule, Section of 2 (b) of the 1999 Constitution of the Federal Republic of Nigeria states that “without prejudice to the generality of the foregoing paragraph, a public officer shall not, except where he is not employed on full-time basis engage or participate in the management or running of any private business, profession or trade, but nothing in this subparagraph shall prevent a public officer from engaging in farming.”
Part 2 of the Fifth Schedule of the constitution defines a public servant to include; Chairman, members, and staff of local government councils, chairman and members of Boards of other governing bodies and staff of statutory corporations and of companies in which the Federal or state government has a controlling interest.
Ikebujo refused to comment on the matter and blocked the number used in contacting her by SaharaReporters.
Corruption Scandal News AddThis : Original Author : SaharaReporters, New York Disable advertisements :Some Yoruba nation agitators in Cotonou, Benin Republic, have held a peaceful demonstration outside the Supreme Court where it is believed that the extradition hearing of Yoruba activist, Sunday Adeyemo (Igboho), will be held.
Olayomi Koiki, a media aide to Igboho, shared footage of the protest on Wednesday.
In the video, the protesters were singing solidarity songs and demanding the immediate release of the Igboho.
They also demanded an independent nation of the Yoruba people. The protesters said they had confidence in the Benin Republic justice system that Igboho would be freed.
The protesters debunked claims that Igboho had been freed, stressing that he is still in custody.
Similar protests are currently being held in Ibadan, Oyo State, and in the United Kingdom.
SaharaReporters exclusively reported Igboho's arrest on Monday evening by security operatives in the Benin Republic.
Igboho was arrested Monday night after fleeing Nigeria to evade arrest by Nigeria's secret police.
A source privy to his departure from Nigeria said he had perfected plans to secretly escape from Nigeria through Cotonou and was heading to Germany.
Human Rights News AddThis : Original Author : SaharaReporters, New York Disable advertisements :The ECOWAS Community Court of Justice sitting in Abuja has given the Nigerian government thirty (30) days to respond to the suit filed by One Love Foundation through a human rights lawyer, Samuel Ihensekhien, seeking reparation for the family of Miss Jumoke, who was killed recently.
Jumoke, a female trader, was killed on July 3, 2021 by the police during Yoruba Nation rally in Lagos.
Jumoke, who was 14 years old, was allegedly killed by stray bullets reportedly fired by one of the police officers led by the Commissioner of Police, Hakeem Odumosu, while the police were dispersing the agitators at Ojota.
The foundation had in a suit No. ECW/CCJ/APP/38/21 sought an order of court directing Nigerian government, who is the defendant in the case, to provide effective remedies and reparation of $1 billion to the parents of the deceased.
In a "Notice of Registration" dated 19th July 2021 sighted by SaharaReporters, the court asked Nigerian government to file a defence within thirty (30) days after service of the application.
The notice read, "Notice is hereby given that an application between Patrick Eholor and the Federal Republic of Nigeria was lodged by the applicant and registered by the court on the 19th July, 2021. See Also Sahara Reporters REVEALED: Details Of Autopsy Report Of Lagos Teenager Killed During Yoruba Nation Rally 0 Comments 1 Day Ago
"You are required to lodge a defence within thirty (30) days after service of this application on you and take note that in default of your so doing, the applicant may proceed herein and judgement may be given in your absence."
The suit is also challenging the clampdown on peaceful protests by different security agencies, which he said was in variance to Section 24 which guarantees the rights to freedom of expression and information in Articles 8 and 9 of the African Charter on Human and Peoples’ Rights.
Legal News AddThis : Original Author : SaharaReporters, New York Disable advertisements :