President Goodluck Jonathan will present a special presidential address to the nation to mark the country’s 50th independence anniversary.
In a statement signed by the Special Adviser to the President on Media and Publicity, Ima Niboro, said the presidential address would be broadcast before a cross-section of young Nigerians drawn from various walks of life at the forecourt of the Presidential Villa, Abuja.
“This is a unique departure from the old practice where presidential broadcasts are pre-recorded and relayed to the nation. All television and radio stations may wish to hook up with the network services of the Nigerian Television Authority and the Federal Radio Corporation of Nigeria for the broadcast,” the statement read.
Thursday, September 30, 2010
God is behind Nigeria @ 50 celebrations, says CAN President
The president of the Christian Association of Nigeria (CAN) Pastor Ayo Oritsejafor, has said that it is biblical and in God’s plan for Nigeria to celebrate 50 years independence anniversary, even though there appears to be little to celebrate for.
Pastor Oritsejafor said as men of faith, the jubilee is a celebration of hope for a better Nigeria.The CAN president spoke yesterday at a press conference organised by the association in Abuja to mark the 50th Anniversary Jubilee Celebration.
He said, “As we prepare to celebrate our 50th independence anniversary as a nation, there is need to thank God for the last 50 years and to look forward to the next 50 years with great expectations.”
He said in spite of many Nigerians asking why Nigeria is celebrating in the midst of abject poverty among its citizens, it was still relevant to celebrate as God has kept the nation united for the past 50 years despite so many calamities.
“Though it might seem like there isn’t much to jubilate about in the nation, prophetically and by faith, we celebrate jubilee. We believe that as God sees our faith, He will give us cause to be jubilant as we begin the journey of another 50 years.
We don’t want to see things change before we rejoice, we rejoice in advance in firm faith that our God has heard our prayers and will supernaturally deliver this nation,” he said.
He however, lamented that in all ways, every Nigerian has failed Nigeria and it was time to bring about that change that is needed to move Nigeria forward.
He commended the Independent National Electoral Commission for taking the right steps towards holding credible elections and urged Nigerians to vote for good leaders.
Pastor Oritsejafor said as men of faith, the jubilee is a celebration of hope for a better Nigeria.The CAN president spoke yesterday at a press conference organised by the association in Abuja to mark the 50th Anniversary Jubilee Celebration.
He said, “As we prepare to celebrate our 50th independence anniversary as a nation, there is need to thank God for the last 50 years and to look forward to the next 50 years with great expectations.”
He said in spite of many Nigerians asking why Nigeria is celebrating in the midst of abject poverty among its citizens, it was still relevant to celebrate as God has kept the nation united for the past 50 years despite so many calamities.
“Though it might seem like there isn’t much to jubilate about in the nation, prophetically and by faith, we celebrate jubilee. We believe that as God sees our faith, He will give us cause to be jubilant as we begin the journey of another 50 years.
We don’t want to see things change before we rejoice, we rejoice in advance in firm faith that our God has heard our prayers and will supernaturally deliver this nation,” he said.
He however, lamented that in all ways, every Nigerian has failed Nigeria and it was time to bring about that change that is needed to move Nigeria forward.
He commended the Independent National Electoral Commission for taking the right steps towards holding credible elections and urged Nigerians to vote for good leaders.
Wednesday, September 29, 2010
Tuesday, September 28, 2010
Jonathan asks Senate, Reps to amend constitution
ABUJA— PRESIDENT Goodluck Jonathan, yesterday, asked the Senate to amend relevant sections of the 1999 Constitution and the 2010 Electoral Act to accommodate the new dates requested by the Independent National Electoral Commission, INEC, for the conduct of the 2011 polls.
President Jonathan in letter to the Senate read by Senator David Mark, urged the Senate to fast track the amendments noting that he was in agreement with INEC Chairman, Professor Attahiru Jega, that the January date for 2011 general elections was not tenable.
The letter reads: “I am in receipt of a letter from the Chairman of the Independent National Electoral Commission, INEC, on the above subject matter.
Planning and procurement
“According to the Chairman, the request is predicated on the inability of INEC to implement its detailed Action Plan with regards to planning, procurement and deployment for registration of voters and elections, within the time-lines in the context of the Electoral Act. It is noteworthy that the leadership of all the political parties endorsed the request in a recent retreat.
“While I agree with INEC on the validity of the request and the need to address the apparent difficulties, I shall propose an amendment of the relevant laws by inclusion of transitional provisions which will enable INEC conduct general elections between now and the end of April 2011.”
Meanwhile, the President has asked the Senate to expedite action on the amendment of 2010 Electoral Act to pave way for the extension of election from January to April.
He told the Senate in another letter: “I wish to refer to my letter notifying you of the letter by the Chairman of the Independent National Electoral Commission, INEC, regarding its apprehension of the implementation of the Electoral Calendar.
President Jonathan in letter to the Senate read by Senator David Mark, urged the Senate to fast track the amendments noting that he was in agreement with INEC Chairman, Professor Attahiru Jega, that the January date for 2011 general elections was not tenable.
The letter reads: “I am in receipt of a letter from the Chairman of the Independent National Electoral Commission, INEC, on the above subject matter.
Planning and procurement
“According to the Chairman, the request is predicated on the inability of INEC to implement its detailed Action Plan with regards to planning, procurement and deployment for registration of voters and elections, within the time-lines in the context of the Electoral Act. It is noteworthy that the leadership of all the political parties endorsed the request in a recent retreat.
“While I agree with INEC on the validity of the request and the need to address the apparent difficulties, I shall propose an amendment of the relevant laws by inclusion of transitional provisions which will enable INEC conduct general elections between now and the end of April 2011.”
Meanwhile, the President has asked the Senate to expedite action on the amendment of 2010 Electoral Act to pave way for the extension of election from January to April.
He told the Senate in another letter: “I wish to refer to my letter notifying you of the letter by the Chairman of the Independent National Electoral Commission, INEC, regarding its apprehension of the implementation of the Electoral Calendar.
Nigeria: 'Presidency is Not Zoned' - Jonathan
Abuja — President Goodluck Jonathan finally broke his silence over the zoning formula of his party, the Peoples Democratic Party (PDP) yesterday, as he declared that the office of the president is not zoned going by the party's constitution.
The president made this clarification at the national headquarters of the party, when he returned his nomination form to contest the party's presidential primaries. Jonathan also said he was the most experienced person to the office of the president.
He spoke at an interactive session with the physically challenged, women, children and the aged, as part of "Nigeria At 50" celebrations. He said that having been a deputy governor, acting governor, governor, vice president, acting president and president, there is hardly any presidential aspirant that has his experiences.
Jonathan returned his nomination form to the office of the national organising secretary of the party, Prince Uche Secondus at about 3.12p.m, before proceeding to the office of the national chairman, Dr. Okwesilieze Nwodo, where he fielded questions from news men.
Asked what is his reaction to the clamour by some presidential aspirants that the office of the president is zoned to the north until 2015, the president declared: "Either by virtue of the PDP constitution, or in practice, the presidency of Nigeria has never been zoned to any part of the country."
Jonathan maintained that the party's constitution only warrants it to zone offices that it has 'reasonable control over'. He listed such offices to include, the office of the Senate President, Speaker of the House of Representatives and other principal offices of the National Assembly, the national chairman of the party, national secretary of the party and their likes at the state level.
The president said that before these offices are zoned, the president and vice-president must have emerged. While assuring that he would not do anything that is at variance with the party's constitution, Jonathan stated emphatically that, "there is nothing like zoning the presidency to the north or zoning the presidency to the south."
Find below, the full text of Jonathan's response to zoning.
"The issue you asked about zoning. This is the first time I have to comment on zoning. I have decided to talk about it, but, at the appropriate time, you will know a little more. But, either by virtue of the PDP constitution, or in practice, the presidency of Nigeria has never been zoned to any part of the country.
It has never been zoned or maybe I would read some sections of our own constitution too. There is the concept of zoning and rotation in the PDP constitution to encourage power to move from one part to the other and it is not limited to the office of the president.
We will read that section from the least office (from councillorship to the presidency) to encourage rotation and the issue of zoning, PDP does not zone the presidency, but PDP zones offices they have absolute control or reasonable control. The fact also is that the chairman of the party, deputy chairman, secretary, these are offices that the PDP has absolute control and normally PDP will zone.
"The office of the president and other elective offices like Senate president, speaker and National Assembly officers, PDP has reasonable control as long as we are in the majority. Those offices could be zoned. But, before you zone those offices, the president and the vice-president would have first emerge. I am saying this because I was involved.
If you take the situation of the 2007 election for example, when Umaru Musa Yar'Adua and myself emerged, then we met. Ali is here, he was the chairman of the party then, the former President Olusegun Obasanjo, our late President Yar'Adua, myself, the secretary of the party then, Ojo Maduekwe and Tony Anenih, we sat down in the Glass House. The North would have gotten a president who is from the North West, we have a vice-president who is from the South-South, then, where should we place the party chairman, then we decided it has to go to the South East.
Where do we place the Senate president, we decided it has to go to the North Central. And now we zoned all these other offices. These are offices that PDP has some reasonable control. But before you zone them, the president and vice president first must emerge.
"If you look at the tradition of PDP, after zoning those offices, if for any reason any of them resigned, then you call on that zone to pick a replacement. That is why when Ogbulafor resigned, the party had to go to the South East to pick the current chairman (Nwodo).
"When Patricia Etteh resigned as Speaker of the House of Representatives, the party had to go to the South West. The party did not just go to the South. So, if anybody is making that argument, then of course, he can only say ok, the North West, then, nobody from the North Central zone can even aspire to the presidency or the North East. PDP operates on the six zonal structure.
"The concept of zoning has been in PDP from inception. We have the PDP 1999 constitution and if you ask the chairman will give you. This is the very first constitution and the zoning concept is there, but not expressly stated. Then, 2001 constitution, it says that in Article 7 (2) ( c ), "in pursuance of the principles of equity, justice and fairness, the party shall adhere to the policy of rotation and zoning of party and public elective offices and it shall be enforced by the appropriate executive committee at all levels from councillor to presidency"
"Even at state level, the PDP encourages the governorship position to be rotated. The other offices are zoned after the governor and the deputy governor have emerged. Let me take two states and give you example at that level for those who want to over drag this.
"And this was in 2001. Let me digress a little. Those who are arguing, especially those who are also aspirants, who are arguing about this zoning, ask them, were they interested in contesting the Presidency of this country in 2003? Were they interested in 2007? Of course, if by our practice, PDP has a zoning arrangement that the presidency will be in the North for eight years, then south for eight years, then North for eight years, in 2003 no northern aspirant would have developed interest. But in 2003, you know that some of these people who are talking about zoning, it created a lot of havoc in the party, because they wanted to contest, even against Obasanjo, who had served only for one term.
"Then, in 2007, we had about 28 aspirants. If it was purported to have been zoned to the North, then you wouldn't have expected any southerner, but we even had about 16, more southerners that contested for the presidency. So, even in practice, the PDP constitution, the one I read, I decided to read from 2001, to tell you that it is not a recent issue. It has been a part of the party. This is 2009.
The 2009 constitution, the current one, they lifted it exactly, no word is altered. The process of zoning is not limited to the presidency alone. The concept of rotation, at the councillorship level, the party encourages us to shift councillorship to either from one community to the other or one compound to the other or from one family to the other that make up the ward. At the local government chairmanship level, we encourage that the post should move from one ward to the other so that no one ward can monopolise the seat. It goes on for all the seats."
"In Kwara State, you see that Saraki, whose term is completing, he is leaving, because the Nigerian constitution allows for two tenure. But, of course, the younger sister is contesting. If the party has zoned the position, definitely, somebody from that senatorial district cannot contest, except the younger sister is from a different senatorial district.
"If you look at the situation in Bayelsa State, you know my history. I am from Brass Senatorial District. I took over to finish Alamieyesiegha's tenure, just like it has happened at the federal level. I was to go back and contest and the party had no objection. I even got the party ticket after the primary.
But because I was now drafted to contest the vice-presidency seat, the party set up a committee, Dr. Ahmadu Ali is here, and gave Timipreye Sylva, who is from my senatorial district. The party would have said no, no, no, it had to go back may be to the Central Senatorial District, where Alamieyesiegha comes from, let them bring the aspirant form there.
The president made this clarification at the national headquarters of the party, when he returned his nomination form to contest the party's presidential primaries. Jonathan also said he was the most experienced person to the office of the president.
He spoke at an interactive session with the physically challenged, women, children and the aged, as part of "Nigeria At 50" celebrations. He said that having been a deputy governor, acting governor, governor, vice president, acting president and president, there is hardly any presidential aspirant that has his experiences.
Jonathan returned his nomination form to the office of the national organising secretary of the party, Prince Uche Secondus at about 3.12p.m, before proceeding to the office of the national chairman, Dr. Okwesilieze Nwodo, where he fielded questions from news men.
Asked what is his reaction to the clamour by some presidential aspirants that the office of the president is zoned to the north until 2015, the president declared: "Either by virtue of the PDP constitution, or in practice, the presidency of Nigeria has never been zoned to any part of the country."
Jonathan maintained that the party's constitution only warrants it to zone offices that it has 'reasonable control over'. He listed such offices to include, the office of the Senate President, Speaker of the House of Representatives and other principal offices of the National Assembly, the national chairman of the party, national secretary of the party and their likes at the state level.
The president said that before these offices are zoned, the president and vice-president must have emerged. While assuring that he would not do anything that is at variance with the party's constitution, Jonathan stated emphatically that, "there is nothing like zoning the presidency to the north or zoning the presidency to the south."
Find below, the full text of Jonathan's response to zoning.
"The issue you asked about zoning. This is the first time I have to comment on zoning. I have decided to talk about it, but, at the appropriate time, you will know a little more. But, either by virtue of the PDP constitution, or in practice, the presidency of Nigeria has never been zoned to any part of the country.
It has never been zoned or maybe I would read some sections of our own constitution too. There is the concept of zoning and rotation in the PDP constitution to encourage power to move from one part to the other and it is not limited to the office of the president.
We will read that section from the least office (from councillorship to the presidency) to encourage rotation and the issue of zoning, PDP does not zone the presidency, but PDP zones offices they have absolute control or reasonable control. The fact also is that the chairman of the party, deputy chairman, secretary, these are offices that the PDP has absolute control and normally PDP will zone.
"The office of the president and other elective offices like Senate president, speaker and National Assembly officers, PDP has reasonable control as long as we are in the majority. Those offices could be zoned. But, before you zone those offices, the president and the vice-president would have first emerge. I am saying this because I was involved.
If you take the situation of the 2007 election for example, when Umaru Musa Yar'Adua and myself emerged, then we met. Ali is here, he was the chairman of the party then, the former President Olusegun Obasanjo, our late President Yar'Adua, myself, the secretary of the party then, Ojo Maduekwe and Tony Anenih, we sat down in the Glass House. The North would have gotten a president who is from the North West, we have a vice-president who is from the South-South, then, where should we place the party chairman, then we decided it has to go to the South East.
Where do we place the Senate president, we decided it has to go to the North Central. And now we zoned all these other offices. These are offices that PDP has some reasonable control. But before you zone them, the president and vice president first must emerge.
"If you look at the tradition of PDP, after zoning those offices, if for any reason any of them resigned, then you call on that zone to pick a replacement. That is why when Ogbulafor resigned, the party had to go to the South East to pick the current chairman (Nwodo).
"When Patricia Etteh resigned as Speaker of the House of Representatives, the party had to go to the South West. The party did not just go to the South. So, if anybody is making that argument, then of course, he can only say ok, the North West, then, nobody from the North Central zone can even aspire to the presidency or the North East. PDP operates on the six zonal structure.
"The concept of zoning has been in PDP from inception. We have the PDP 1999 constitution and if you ask the chairman will give you. This is the very first constitution and the zoning concept is there, but not expressly stated. Then, 2001 constitution, it says that in Article 7 (2) ( c ), "in pursuance of the principles of equity, justice and fairness, the party shall adhere to the policy of rotation and zoning of party and public elective offices and it shall be enforced by the appropriate executive committee at all levels from councillor to presidency"
"Even at state level, the PDP encourages the governorship position to be rotated. The other offices are zoned after the governor and the deputy governor have emerged. Let me take two states and give you example at that level for those who want to over drag this.
"And this was in 2001. Let me digress a little. Those who are arguing, especially those who are also aspirants, who are arguing about this zoning, ask them, were they interested in contesting the Presidency of this country in 2003? Were they interested in 2007? Of course, if by our practice, PDP has a zoning arrangement that the presidency will be in the North for eight years, then south for eight years, then North for eight years, in 2003 no northern aspirant would have developed interest. But in 2003, you know that some of these people who are talking about zoning, it created a lot of havoc in the party, because they wanted to contest, even against Obasanjo, who had served only for one term.
"Then, in 2007, we had about 28 aspirants. If it was purported to have been zoned to the North, then you wouldn't have expected any southerner, but we even had about 16, more southerners that contested for the presidency. So, even in practice, the PDP constitution, the one I read, I decided to read from 2001, to tell you that it is not a recent issue. It has been a part of the party. This is 2009.
The 2009 constitution, the current one, they lifted it exactly, no word is altered. The process of zoning is not limited to the presidency alone. The concept of rotation, at the councillorship level, the party encourages us to shift councillorship to either from one community to the other or one compound to the other or from one family to the other that make up the ward. At the local government chairmanship level, we encourage that the post should move from one ward to the other so that no one ward can monopolise the seat. It goes on for all the seats."
"In Kwara State, you see that Saraki, whose term is completing, he is leaving, because the Nigerian constitution allows for two tenure. But, of course, the younger sister is contesting. If the party has zoned the position, definitely, somebody from that senatorial district cannot contest, except the younger sister is from a different senatorial district.
"If you look at the situation in Bayelsa State, you know my history. I am from Brass Senatorial District. I took over to finish Alamieyesiegha's tenure, just like it has happened at the federal level. I was to go back and contest and the party had no objection. I even got the party ticket after the primary.
But because I was now drafted to contest the vice-presidency seat, the party set up a committee, Dr. Ahmadu Ali is here, and gave Timipreye Sylva, who is from my senatorial district. The party would have said no, no, no, it had to go back may be to the Central Senatorial District, where Alamieyesiegha comes from, let them bring the aspirant form there.
Nigeria at 50 Awards - Jonathan Excludes Murtala, Buhari, IBB, Abacha
Former heads of state Muhammadu Buhari, Ibahim Babangida and Sani Abacha have been excluded from the special Golden Jubilee independence anniversary awards on 50 distinguished Nigerians by President Goodluck Jonathan. Jonathan also excluded the late Head of State Murtala Ramat Muhammad in the independence anniversary awards on Nigerians and friends of the country.
A statement yesterday by Secretary to the Government of the Federation, Alhaji Mahmud Yayale Ahmed, said the 50 personalities would be honoured for their contributions to the development of the country.
Those to be awarded are: Herbert Macaulay (Lagos), Dr. Nnamdi Azikwe (Anambra), Alhaji Ahmadu Bello (Sokoto), Chief Obafemi Awolowo (Ogun) , Sir Abubakar Tafawa Balewa (Bauchi), Chief Samuel Akintola (Oyo), Mallam Aminu Kano and Chief Anthony Enahoro (Edo).
Ernest Okoli (Bayelsa), Jaja Wachukwu (Abia), Dennis Osadebay (Delta), Maj-Gen J.T.U Aguiyi-Ironsi (Abia) Generals Yakubu Gowon (Plateau),Olusegun Obasanjo (Ogun) Abdulsalami Abubakar (Niger) and Prof. Kenneth Dike (Anambra).
Relevant Links
Profs. Jacob Ade Ajayi (Ekiti), Ishaya Audu (Kaduna), Iya Abubakar (Adamawa), Chief Emeka Anyaoku (Anambra), Alhaji Shehu Shagari (Sokoto), Alhaji Yusuf Maitama Sule (Kano), Joseph Tarka (Benue), Shettima Ali Monguno (Borno) and Cardinal Francis Arinze (Anambra), Alhaji Abubakar Sadiq 111, Sultan of Sokoto (Sokoto) and Oba Adesoji Aderemi (Osun).
Also, Profs Wole Soyinka (Ogun), Chinua Achebe (Anambra), Alhaji Abubakar Imam (Kaduna), Alhaji Babatunde Jose (Lagos), Justices Adetokunbo Ademola (Ogun), Egbert Udo Udoma (Akwa-Ibom) Prof. Teslim Elias (Lagos), Chief Rotimi Alade Williams (Lagos), Justice Mamman Nasir (Kastina), Alhaji Alhassan Dantata (Kano), Alhaji Aliko Dangote (Kano), Chief Mike Adenuga (Ogun), Richard Ihetu aka Dick Tiger (Abia), Kanu Nwankwo (Abia) and Chioma Ajunwa (Imo).
Daniel Igali (Bayelsa), Michael Akinwunmi (Ogun), Mrs Funmilayo Ransome Kuti (Ogun), Mrs Margaret Ekpo (Cross River), Hajia Gambo Sawaba (Kaduna), Hajiya Ladi Kwali (Abuja), Princess Alexandra (Britain) and Lillian Joel Williams (Britain).
A statement yesterday by Secretary to the Government of the Federation, Alhaji Mahmud Yayale Ahmed, said the 50 personalities would be honoured for their contributions to the development of the country.
Those to be awarded are: Herbert Macaulay (Lagos), Dr. Nnamdi Azikwe (Anambra), Alhaji Ahmadu Bello (Sokoto), Chief Obafemi Awolowo (Ogun) , Sir Abubakar Tafawa Balewa (Bauchi), Chief Samuel Akintola (Oyo), Mallam Aminu Kano and Chief Anthony Enahoro (Edo).
Ernest Okoli (Bayelsa), Jaja Wachukwu (Abia), Dennis Osadebay (Delta), Maj-Gen J.T.U Aguiyi-Ironsi (Abia) Generals Yakubu Gowon (Plateau),Olusegun Obasanjo (Ogun) Abdulsalami Abubakar (Niger) and Prof. Kenneth Dike (Anambra).
Relevant Links
Profs. Jacob Ade Ajayi (Ekiti), Ishaya Audu (Kaduna), Iya Abubakar (Adamawa), Chief Emeka Anyaoku (Anambra), Alhaji Shehu Shagari (Sokoto), Alhaji Yusuf Maitama Sule (Kano), Joseph Tarka (Benue), Shettima Ali Monguno (Borno) and Cardinal Francis Arinze (Anambra), Alhaji Abubakar Sadiq 111, Sultan of Sokoto (Sokoto) and Oba Adesoji Aderemi (Osun).
Also, Profs Wole Soyinka (Ogun), Chinua Achebe (Anambra), Alhaji Abubakar Imam (Kaduna), Alhaji Babatunde Jose (Lagos), Justices Adetokunbo Ademola (Ogun), Egbert Udo Udoma (Akwa-Ibom) Prof. Teslim Elias (Lagos), Chief Rotimi Alade Williams (Lagos), Justice Mamman Nasir (Kastina), Alhaji Alhassan Dantata (Kano), Alhaji Aliko Dangote (Kano), Chief Mike Adenuga (Ogun), Richard Ihetu aka Dick Tiger (Abia), Kanu Nwankwo (Abia) and Chioma Ajunwa (Imo).
Daniel Igali (Bayelsa), Michael Akinwunmi (Ogun), Mrs Funmilayo Ransome Kuti (Ogun), Mrs Margaret Ekpo (Cross River), Hajia Gambo Sawaba (Kaduna), Hajiya Ladi Kwali (Abuja), Princess Alexandra (Britain) and Lillian Joel Williams (Britain).
Saturday, September 25, 2010
Pension funds in power sector bottomless pit
The importance of the power sector to Nigerians cannot be over- emphasized. Poor power supply is a source of great discomfort to Nigerians in their homes and offices. It is the reason for the collapse of industries that are too many to mention. Epileptic power supply is behind rising unemployment. It contributes, in no small measure, to the general economic malaise in the country.
There is, therefore, no doubt that many Nigerians would be willing to give an arm and a leg, figuratively speaking, to have regular electricity in the country.
Nigerian presidents, over the years, have not been unaware of the power debacle. The Nigerian landscape is littered with failed promises of many governments on power supply. It is, indeed, one sector in which government’s promises and kites have been so easily deflated. Ask former president, Olusegun Obasanjo. All his vows on the sector came to naught. Power is the sector that almost demystified Obasanjo’s Power Minister, the late Chief Bola Ige, who was hurriedly moved from the ministry to the Ministry of Justice, from where he was assassinated.
Ask President Goodluck Jonathan. All his vows, as Vice President, last year, that Nigerians would have no need for generators by this year, on account of the federal government’s planned resuscitation of the power sector, fell like a pack of cards, before his own eyes.
Since he assumed full leadership of the country, however, President Jonathan has left no one in doubt that he is bent on revamping the sector. He has come up with a roadmap for power. A national Super Grid is to be constructed to boost electricity supply. The 11 distribution units of the national power carrier, Power Holding Company of Nigeria (PHCN), are to be privatised, to make them more efficient in order to boost power supply.
All these are welcome steps, but, the latest initiative from the Central Bank of Nigeria (CBN) to invest N400 billion of pensioners and workers’ money from the National Pension Fund in the power sector calls for a No No.
Money in the Pension Funds is no free money. It is money that belongs to retirees who have spent their lives working for the nation, who deserve rest and peace of mind in their old age. It is also money that belongs to workers who are working hard now with the expectation that they will receive their pensions when they retire.
Should money belonging to these two categories of Nigerians be pumped into a bottomless pit that has gulped trillions of naira in the past decade, with little to show it?
I think not, and Nigerians, including the Nigerian Labour Congress (NLC) should not look askance and let this great evil be perpetrated on workers and retirees’ money.
The Central Bank needs to be told, in strong terms, and possibly, sued; to ensure that pension funds are not trifled with. There is no doubt that government has a history of profligacy in the power sector. Investigations into how trillions of naira in the sector was managed, in the past, did not reach a logical denouement.
Instead, some of the legislators who were charged with the investigation fell into the same bottomless pit of corruption. Money pumped into the sector has become some form of national cake, with all those charged with its management, struggling to have a share of it.
Although CBN governor, Sanusi Lamido Sanusi, was quoted by Bloomberg to have said, at a conference in London, that the apex bank would provide guarantees to allow the release of the money to viable and eligible power projects, it is not assuring enough, because if the Federal government had been alive to its responsibility of paying retirees pensions as due, the idea of the National Pension Fund under the Pension reforms might not have arisen, in the first place
In addition, the governor has not said how, with Nigeria’s peculiar experience in these matters, pension funds invested in power projects will translate into cash that will be paid back to the National Pension Fund, when retirees need their savings.
Also, the Federal Government has never demonstrated seriousness in bringing those who toy with power sector funds to book. It is quite instructive that on the same day the plan to invest pension funds in power projects became public knowledge, Nigerians received the news that the Federal Government has dropped all charges against the sacked chairman and six commissioners of the Nigerian Electricity Regulatory Commission (NERC) who had been answering charges related to corruption in the court.
The decision to drop the suit no FG/HC/CR/34/09 Federal Republic of Nigeria versus Owan and six others was ostensibly taken to woo the former officials to drop court cases challenging their removal from office, in order to pave way for the reconstitution of a new board in order to move the power sector forward. The suit is to be withdrawn through entering of a nolle prosecui by the Economic and Financial Crimes Commission (EFCC) on the next adjourned date.
Does this suggest a serious approach to fighting corruption in the power sector? And, are pension funds safe in such a sector where government would so lightly withdraw a suit it filed against persons accused of corruption?
This is the question the NLC, retirees’ organisations and pension fund administrators, should be asking the government.
The matter of our pension laws is another area that needs to be looked at. The general belief is that it is pension fund administrators that are empowered to administer and invest pension funds. How does the CBN come into the matter? NLC should look into this.
If pensioners’ funds must be invested in the power sector, Federal Government guarantees on the N400 billion the CBN wants to unlock from pension funds into the sector, will not be enough.
Firm bank guarantees from banks with the required strength are required.
Moreover, the legal underpinnings of the CBN plan should be studied and addressed to ensure that the regulatory body has not stepped outside its bounds as a regulator of banks in Nigeria.
There is no doubt that pumping in money could help to solve the power problem if such money is judiciously used, but this should not be at the expense of workers and retirees.
If pensions funds must be pumped into the power sector, it should be done through dialogue and consensus of all stakeholders, not via CBN fiat.
There is, therefore, no doubt that many Nigerians would be willing to give an arm and a leg, figuratively speaking, to have regular electricity in the country.
Nigerian presidents, over the years, have not been unaware of the power debacle. The Nigerian landscape is littered with failed promises of many governments on power supply. It is, indeed, one sector in which government’s promises and kites have been so easily deflated. Ask former president, Olusegun Obasanjo. All his vows on the sector came to naught. Power is the sector that almost demystified Obasanjo’s Power Minister, the late Chief Bola Ige, who was hurriedly moved from the ministry to the Ministry of Justice, from where he was assassinated.
Ask President Goodluck Jonathan. All his vows, as Vice President, last year, that Nigerians would have no need for generators by this year, on account of the federal government’s planned resuscitation of the power sector, fell like a pack of cards, before his own eyes.
Since he assumed full leadership of the country, however, President Jonathan has left no one in doubt that he is bent on revamping the sector. He has come up with a roadmap for power. A national Super Grid is to be constructed to boost electricity supply. The 11 distribution units of the national power carrier, Power Holding Company of Nigeria (PHCN), are to be privatised, to make them more efficient in order to boost power supply.
All these are welcome steps, but, the latest initiative from the Central Bank of Nigeria (CBN) to invest N400 billion of pensioners and workers’ money from the National Pension Fund in the power sector calls for a No No.
Money in the Pension Funds is no free money. It is money that belongs to retirees who have spent their lives working for the nation, who deserve rest and peace of mind in their old age. It is also money that belongs to workers who are working hard now with the expectation that they will receive their pensions when they retire.
Should money belonging to these two categories of Nigerians be pumped into a bottomless pit that has gulped trillions of naira in the past decade, with little to show it?
I think not, and Nigerians, including the Nigerian Labour Congress (NLC) should not look askance and let this great evil be perpetrated on workers and retirees’ money.
The Central Bank needs to be told, in strong terms, and possibly, sued; to ensure that pension funds are not trifled with. There is no doubt that government has a history of profligacy in the power sector. Investigations into how trillions of naira in the sector was managed, in the past, did not reach a logical denouement.
Instead, some of the legislators who were charged with the investigation fell into the same bottomless pit of corruption. Money pumped into the sector has become some form of national cake, with all those charged with its management, struggling to have a share of it.
Although CBN governor, Sanusi Lamido Sanusi, was quoted by Bloomberg to have said, at a conference in London, that the apex bank would provide guarantees to allow the release of the money to viable and eligible power projects, it is not assuring enough, because if the Federal government had been alive to its responsibility of paying retirees pensions as due, the idea of the National Pension Fund under the Pension reforms might not have arisen, in the first place
In addition, the governor has not said how, with Nigeria’s peculiar experience in these matters, pension funds invested in power projects will translate into cash that will be paid back to the National Pension Fund, when retirees need their savings.
Also, the Federal Government has never demonstrated seriousness in bringing those who toy with power sector funds to book. It is quite instructive that on the same day the plan to invest pension funds in power projects became public knowledge, Nigerians received the news that the Federal Government has dropped all charges against the sacked chairman and six commissioners of the Nigerian Electricity Regulatory Commission (NERC) who had been answering charges related to corruption in the court.
The decision to drop the suit no FG/HC/CR/34/09 Federal Republic of Nigeria versus Owan and six others was ostensibly taken to woo the former officials to drop court cases challenging their removal from office, in order to pave way for the reconstitution of a new board in order to move the power sector forward. The suit is to be withdrawn through entering of a nolle prosecui by the Economic and Financial Crimes Commission (EFCC) on the next adjourned date.
Does this suggest a serious approach to fighting corruption in the power sector? And, are pension funds safe in such a sector where government would so lightly withdraw a suit it filed against persons accused of corruption?
This is the question the NLC, retirees’ organisations and pension fund administrators, should be asking the government.
The matter of our pension laws is another area that needs to be looked at. The general belief is that it is pension fund administrators that are empowered to administer and invest pension funds. How does the CBN come into the matter? NLC should look into this.
If pensioners’ funds must be invested in the power sector, Federal Government guarantees on the N400 billion the CBN wants to unlock from pension funds into the sector, will not be enough.
Firm bank guarantees from banks with the required strength are required.
Moreover, the legal underpinnings of the CBN plan should be studied and addressed to ensure that the regulatory body has not stepped outside its bounds as a regulator of banks in Nigeria.
There is no doubt that pumping in money could help to solve the power problem if such money is judiciously used, but this should not be at the expense of workers and retirees.
If pensions funds must be pumped into the power sector, it should be done through dialogue and consensus of all stakeholders, not via CBN fiat.
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