Connect with us

News and Report

FOLORUNSHO ALAKIJA, OLUSEGUN OBASANJO IN WAR OF WORDS….. ” I MADE YOU A BILLIONAIRE”-oBASANJO… “YOUR GOVERNMENT FRUSTRATED MY EFFORT AND BUSINESS” -ALAKIJA. MORE DETAILS INSIDE!

Published

on

One of Nigeria’s former presidents, Olusegun Obasanjo engaged Forbes’ richest African woman, Folorunsho Alakija in a quick trade of words on Saturday.

Obasanjo explained to Alakija that she’s among the 25 billionaires he made during his tenure as President.

The former president made the statement at the 2016 Tony Elumelu Foundation Entrepreneurship Forum in Lagos. He made the statement while reacting to Alakija’s allegation that the Obasanjo administration frustrated her effort when she ventured into oil business.

Alakija, who spoke before Obasanjo, alleged that the administration illegally took an oil block allocated to her company after her family had invested all their savings to strike oil in commercial quantity.

She said: “This oil block is in 5000 feet depth of water and was extremely difficult to explore.

“It took 15 years from the time that we were awarded the licence in 1993 till 2008 when we struck the first oil

“When this event happened, 60 per cent out of our 60 per cent equity in the business, was forcefully taken from us by the government of the day without due process.

“We had to fight back by going to court to seek redress and it took another 12 years for justice to be served in our favour.

“In all those years it was my trust in God, my perseverance and the support of my family that got me going.”

She used her experiences to charge the 2000 budding entrepreneurs at the event to be dogged, determined and not to give up in the face of challenges.

When Obasanjo spoke, the former president seized the opportunity to reply Alakija’s allegation.

“There is a saying in my part of the world that when a proverb touches you and you failed to reply, then you are a coward,” Obasanjo said.

He explained that the action of the government then was in line with the Mining Act, which regulates oil prospection and exploration.

Obasanjo explained: “For you to come here and say that, for no cause whatsoever, you were denied what was rightfully yours, is not fair.

“I do not know you from Adam and there is no reason I would have denied you what rightfully belonged to you.

“So, you have struggled, and you have struck oil. God bless your heart.

“My delight is to be able to create Nigerian billionaires and I always say it that my aim, when I was in government was to create 50 Nigerian billionaires.

“Unfortunately I failed. I created only 25 and Madam, you are one of them.”

Obasanjo hailed the vision of Mr Tony Elumelu for helping to build African young entrepreneurs with his resources.

He also urged the government to create conducive environment for people to move businesses into the country.

The former president urged government to relax its visa policy and company registration process to encourage investors.

He said the government should create certification centres in the country for easy exportation of agro processed products.

The President of Sierra Leone, Bai Koroma noted that what transpired between Obasanjo and Alakija was part of the challenges and difficulties that leaders lived with in the discharge of their duties.

With limited resources competing for unlimited demands and expectations from the people, leaders were seen to be larger than life, he said.

Koroma also commended Elumelu for his project for African young entrepreneurs adding that his vision resonated with a new Africa development agenda

Continue Reading
Advertisement

News and Report

Oando Clean Energy, Cross River State, Sign MoU on Renewable Energy Infrastructure

Published

on

By

Oando Clean Energy (OCEL),  the renewable energy business subsidiary of Oando Energy Resources and the Cross River State Government have  signed a memorandum of understanding (MoU) for the rollout of electric vehicles for mass transportation within the state at the ongoing 28th edition Conference of the Parties (COP28) in Dubai, United Arab Emirates (UAE).

The move in setting up an electric vehicle (EV) assembly plant, is expected to create jobs for local indigenes as well as build a 100MW wind plant for power generation.

Representing the Governor of Cross River State, Bassey Otu at the MoU signing was the state’s Commissioner for Special Duties, Oden Ewa, saying the landmark agreement marked a significant step forward in the state’s journey toward a cleaner and more sustainable future. He said: “The MoU paves the way for the transitioning of our mass transit system to cleaner and less expensive fuels while also allowing for the use of our natural resource, wind, to provide electrification for our people.

“I commend Oando Clean Energy for their innovative solutions that address the impact of climate change in Nigeria and her citizens.”

According to Oando , it said,  as  a company, it has committed to ensuring that this journey to a cleaner and more sustainable energy future is as seamless and as easy as possible.

“This is by putting our confidence in, not only the technology but the partnership and ensuring that the Cross River State government and her people reap the benefits of generating power from sustainable sources”. The statement read.

Oando’s Clean Energy’s scope spans the entire 35 states of the federation and the federal capital, promising to create a cleaner, more viable energy ecosystem for Nigeria and the  people of Cross River.

In attendance at the side event were amongst others, Minister of Niger Delta Affairs, Abubakar Momoh;  Minister of the Environment, Abbas Balarabe;  Minister of State for Environment, Dr. Kunle Salako; Commissioner for Special Duties, Cross River State, Mr. Oden Ewa, among others.

Continue Reading

News and Report

House Of Representatives Issues Warrant Of Arrest On Central Bank Governor, Cardoso, Accountant-General, 17 Others

Published

on

By

The House of Representatives’ Committee on Public Petitions has asked for a warrant of arrest to be issued on the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, the Accountant-General of the Federation (AGF), Oluwatoyin Madein, and 17 others over refusal to appear before it to answer questions on their operations.

It was gathered that the issuance of the arrest warrant was sequel to the adoption of a motion moved by Fred Agbedi, representing Ekeremo/Sagbama Federal Constituency of Bayelsa State on the platform of the Peoples Democratic Party (PDP) at the committee’s hearing on Tuesday.

Agbedi, while moving the motion, said that the arrest warrant had become imperative following the attitude of the invitees, adding that the parliament worked with time and the CEOs had been invited four times but failed to respond to the invitations.

Agbedi said that the CBN Governor, the AGF and the rest of the invitees should be brought to appear before the committee by the Inspector General of Police through a warrant of arrest after due diligence by the House Speaker, Rep Tajudeen Abbas.

The Chairman of the Committee, Micheal Irom (APC-Cross River), in his ruling said that the Inspector-General of Police should ensure the invitees were brought before the committee on December 14.
It was gathered that the petitioner, Fidelis Uzowanem, had earlier said that the petition was anchored on the Nigeria Extractive Industries Transparency Initiative (NEITI) 2021 report.

Irom said, “We took up the challenge to examine the report and discovered that what NEITI put together as a report is only consolidation of fraud that has been going on in the oil and gas industry.

“It dates back to 2016 because we have been following and we put up a petition to this committee to examine what has happened.

“The 2024 budget of 27.5 trillion that has been proposed can be confidently funded from the recoverable amount that we identified in the NEITI report.

“It is basically a concealment of illegal transactions that took place in NNPCL; they have been in a sink with some oil companies where some companies that did not produce crude were paid cash core, an amount paid for crude oil production.”

 

Continue Reading

News and Report

FCTA uncovers illegal oil refining warehouse in Abuja

Published

on

By

In continuation of the city cleaning exercise, Authorities of the Federal Capital Territory Administration (FCTA) with operatives of security personnel have uncovered an illegal oil refining warehouse in Mabushi, opposite Mobile filling station on Ahmadu Bello way in Abuja.

 

The Director, Department of Development Control, FCTA, Mukhtar Galadima after the operation on Thursday, said the illegal refining site was discovered during the continuation of the city cleaning exercise.

 

According to him, about three to four plot of lands designated for commercial purposes have been converted to an area where oil and diesel are being adulterated and circulated to other parts of the city.

 

Galadima explained that the city sanitation task force will look into the provision of the law and make necessary recommendations to the FCT Administration for further actions on the plots used for the activity.

 

He said there was no arrest but the items used in carrying out the illegal refining have been impounded.

 

Galadima said, “During the continuation of our city sanitation exercise in Mabushi opposite Mobile filling station on Ahmadu way, we discovered an illegal refining site where oil and diesel are being adulterated, we have done the needful by moving the items to Nigerian Security and Civil Defence Corps.

 

“From what we have seen so far, about three or four pilot of lands designated for commercial purposes have been converted to unapproved activities, which we believe the owners are fully aware, there will be consequences.

 

“We are going to look at the provision of the law and make necessary recommendations to the FCT Administration”

 

He said the administration will continue to go tough on activities being carried out without government approval,  especially revocation of the titles.

 

Collaborating, Head, operations FCT Directorate of Road Traffic Service (DRTS), Deborah Osho said the city management team during the exercise also discovered that most of the areas in the Nation’s capital have been converted to illegal car mart and motor parks.

 

She disclosed that fifteen vehicles have so far been impounded since the operation commenced about two days.

Continue Reading

Trending