POLITICS
Imo Govt Seals Deal on 200 Room Five Star Hotel
From Marcel Duru, Owerri
Governor Hope Uzodimma on Thursday recorded another feat in his quest to develop Imo State, leading top government officials to seal a deal with development partners on the building of a 200 room Five Star hotel to be called Imo Marriott in Owerri.The hotel which will be ready in 24 months is a product of agreement between Imo State Government, Hassan Allam Construction, Afrexim Bank, Fidelity Bank and Punz Limited, under the Public Private Partnership (PPP) arrangement.
Also the same day, Governor Uzodimma signed two Executive Bills into law – a Bill on Electricity and another, a Bill to amend the Imo State Polytechnic law No. 15 of 2012 to pave the way for the merger of campuses of the Imo State Polytechnic.The Governor said signing the two Bills into law became necessary to position Imo State on the path of sustainable development.He said that poor electricity generation and distribution has taken the shine off the development indices in Imo State and should not be allowed to continue.Uzodimma therefore hinted that he had approached President Bola Ahmed Tinubu to allow the Imo State government to take over the Egbema Power Plant, a federal government project conceived under the Niger Delta Power Holding Company and abandoned since 2006.He said the President has graciously granted his request to take over the Egbema Power Plant, rehabilitate the facilities therein and rely on the same to solve the electricity challenge of the State in line with the President’s Renewed Hope Agenda.The Governor said already, he had visited the site with some experts, technical partners and officials of government to assess the level of decay on ground which will run into millions of dollars and that the technical partners and the experts have also visited the 27 local government areas of Imo State to look at the connectivity aspect of the communities to the Plant in question.According to governor Uzodimma, I am optimistic that in 12 months, Imo State’s story with regard to effective power generation, supply and consumption will be different.On the Bill to amend the existing Imo State Polytechnic law No 15 of 2012 to pave the way for merger of campuses, Governor Uzodimma said that the State is already spending so much hosting the highest number of higher Institutions in the country.The Governor said the Imo State Polytechnic Amendment Bill has reversed the multi-campus system to a mono-campus system.will impact more positively on the students, their sponsors and the government in all ramifications, particularly in terms of the protection of lives of the students and their teachers.The Imo State Electricity Bill signed into Law, he said, will help in the generation, transmission and distribution of electricity supply in Imo State.Signing the two Bills into law at the New Exco Chambers Government House Owerri, as they were presented by the Speaker Imo State House of Assembly, Rt Hon Chike Olemgbe, accompanied by other Principal Officers of the Assembly, the Governor described the occasion as “another milestone in the development of Imo State targeted at moving Imo to a higher level.”He commended the Speaker and members of the Assembly for their cooperation which he said “is in sync with the Executive Arm of the Government aimed at providing quality service to Imo people.”The Governor informed that making Imo State Polytechnic a mono-campus is to, among other things, “cut cost and reduce student’s risk of movement and ensure prompt verifications and effective supervision as well as allow for easy teaching and learning and graduation of the students at the appropriate time.”On the Imo State Electricity law the Governor said that it is “aimed at bringing rapid development in our rural areas, as lack of electricity is killing businesses, heightened unemployment and creating vices in our communities.”He recalled the late former Governor, Sam Mbakwe’s vision of 1979-1983 that helped to sustain development in both the urban and rural areas and drastically reduced rural urban migration.The Governor said the removal of electricity from the Exclusive list to Concurrent list of the Constitution is an opportunity for every sub-national government to rise to the challenge of providing power to their people.”Electricity is at the heart of any meaningful development. Electricity is like food we eat everyday.”Recalling his findings at the Egbema Power Plant where the project awarded in 2006 for transmission and distribution has been abandoned by 80% he said he had requested the President to allow Imo State and her partners to take over the project and put it to meaningful use.”Mr. President Asiwaju Ahmed Tinubu has graciously approved the transfer of the Egbema Power Plant to Imo State and we have signed an MOU for the generation, transmission and distribution of electricity in the State with a reputable Company.”He said it was for that reason that he commissioned a Technical team that has gone round the State to find out how to get power distributed in Imo State.To further develop the State, Governor Uzodimma asked for everyone’s understanding and cooperation as it will be a thing of joy to bequeath those coming behind us a befitting legacy, noting that, “Imo will be better.”Finally, he thanked the Speaker and members of the State Assembly for their cooperation and support towards the development of Imo and affirmed that the two bills and the MOU he had signed will lead to the provision of over 25,000 direct jobs.”What we do today is for our generation to come, it is about the interest of our future children.”Presenting the Bills for signing, the Speaker, Rt. Hon. Chike Olemgbe said that the two Bills went through the rigours and scrutiny of the State House of Assembly and that “the electricity distribution and transmission Bill makes provision for improved power supply as well as sure-up distribution to our communities.”On the amendment of the Imo Polytechnic Law he informed that considerations were given mainly to costs and conveniences of the lecturers and students and the need for unified information and data of the processes of the Polytechnic.He pledged continued cooperation with the Governor and the Executive arm of government for a better Imo State.Present at the signing of Bills were the Deputy Governor of Imo State, Lady (Dr) Chinyere Ekomaru, the Secretary to the State Government, Chief Cosmas Iwu, the Chief of Staff, Barr. Nnamdi Anyaehie, the Attorney General and Commissioner for Justice, Barr. C.O.C Akaolisa and members of the State’s Expanded Exco.The Speaker was accompanied by the Majority Leader, Rt. Hon. Kanayo Onyemaechi, the Clerk of the Assembly, Barr. Chinelo Emeghara who informed the Governor on the reason for the visit and other Principal Officers of the 10th Assembly.Earlier, Governor Uzodimma signed the MOU in his Conference Room for the Five Star hotel on behalf of Imo State Government, while the Managing Director of Hassan Allam, Mahmoud El Essawy signed on behalf of the other partners, Afrexim Bank, Fidelity Bank and Punz Limited.The Secretary to the State Government, Chief Cosmos Iwu, the Chief of Staff to the Governor, Barr Nnamdi Anyaehie and other top government officials were on hand to witness the signing of the MOU by both partners.The Governor said that the project is a Public Private Partnership (PPP) arrangement where Imo State is contributing no dime except the provision of land that guarantees the State equity share in the project ownership.He equally said that the construction period of the Five Star hotel is 24 months and that the signing of the MOU was “to activate the processes leading to the achievement of the project.”The Governor who asserted that the MOU on the Hotel and accent to the Bills are indications that “gradually Imo is getting there,” added that Imo will be better because his administration is ready to “solve the problems bedeviling the State.”POLITICS
2025 budget: LP Chieftain Lauds Tinubu for Diving Priority to Security, Others
Dr Ayo Olorunfemi, National Deputy Chairman of the Labour Party (LP) ,has commended President Bola Tinubu for giving priority to security and other key sectors in the 2025 Appropriation Bill .
Olorunfemi gave the commendation while speaking with newsmeon Thursday in Lagos.
NAN reports that the President had on Wednesday presented the N47.
9 trillion 2025 Appropriation Bill , christened “Budget of Restoration, Securing Peace and Rebuilding Prosperity” , to a joint session of the National Assembly .The President listed highlights of the 2025 budget allocations to include: defense and security: N4.91 trillion; infrastructure: N4.06 trillion; Health: N2.
48 trillion and Education: N3.52 trillion.Reacting , Olorunfemi described security as an enabler of development.
He called on the President to ensure proper implementation ,saying budgets had always been well-crafted but usually lacked monitoring and implementation.
“There is nothing that can happen if there is no security. This is good if the budget is properly utilised for the purpose.
“Our problem is not about policies and budgets, it is about monitoring and implementation.
“There is nothing wrong in bringing a budget proposal forward in terms of expectation, what we want to do, how we want to do it, and how much we want to spend.
“Now, the most important thing is the implementation,, budgets in Nigeria have always been properly crafted,” the LP boss said.
Olorunfemi called on the President to build strong institutions to prevent sabotaging of his policies.
“If this government wants to do anything, it must wake up to the responsibility of monitoring policies and ensure severe penalty for anyone who attempts to sabotage such policies.
“We need institutions that no one will be able to interfere with. We must allow these institutions to work, that is what we expect.
“Once we have strong institutions, most of our problems are solved,” he said.
He also called on the President to take steps to address the problems experienced by Nigerians in the banking sector.
Olorunfemi decried the inability of many Nigerians to get cash at bank’s Automated Teller Machines and the high charges paid to get cash from Point of Sales (POS) operators.
The LP boss also urged the President to devise ways of ending multiple taxations and high fuel price, describing them as major causes of hardship .
Recalled that the President said that the budget was a demonstration of government’s commitment to stabilising the economy, improving lives and repositioning the country for greater performance.
He also said the budget sought to consolidate the key policies instituted to restructure the economy, boost human capital development, increase the volume of trade and investments and bolster oil and gas production. (NAN)
POLITICS
Atiku hails Ndimi’s Oriental Energy on commissioning of first FPSO
By Mike Odiakose, Abuja
The former Vice President of Nigeria and PDP Presidential flag bearer in the 2023 general elections, Atiku Abubakar has congratulated the Chairman of the Nigerian Independent producer, Oriental Energy Resources (OER), Muhammadu Indimi, on the successful completion and commissioning of the Okwok Field’s Floating Production Storage and Offloading (FPSO) vessel/platform in Dubai.
In a statement in Abuja by his Media Office in Abuja on Wednesday, the Former Vice President described the commissioning of the FPSO as one of the most gladdening news coming out from the upstream subsector of Nigeria’s oil industry in recent times.
“The vessel’s deployment at the Okwok field is expected to significantly increase Nigeria’s crude oil output, contributing to the government’s revenue growth and economic development objectives,” he said.
According to Atiku, “This is the first FPSO entirely funded by an indigenous Nigerian company and this landmark achievement being championed by OER showcases the rising capability of Nigerian firms in conceptualising and successfully executing complex projects in the nation’s upstream oil industry.
The successful building and commissioning of the FPSO marks a significant step toward enabling an indigenous oil and gas company to independently develop a marginal oil field.
This development marks an important milestone for Nigeria and its indigenous energy sector, he said.
“No doubt, this latest investment would boost economic growth, generate job opportunities for Nigerians, and ensure steady growth and development of not only the oil sector but the nation’s economy in general.”
He described Indimi as a man who so much believes in the capabilities that exist in the Nigerian oil and gas industry.
“From onset of his foray into the nation’s oil sector, his vision of standing out as a player of reckon in the nation’s upstream oil business has been top-notch,” he said.
As he said, Oriental Energy’s significant investment in the oil sector has set a new standard in local investment and operational excellence in the nation’s oil business, benefiting both the company and its partners.
The 40,000 barrels per day capacity facility constructed by the Singaporean firm HBA Future Energy will commence sailing to Nigerian waters beginning February 2025 for hook-up on the Okwok Oil Field. Production is expected to commence on the oil field in the first half of next year.
Okwok Oil Field, discovered by ExxonMobil in 1967, is located in Oil Mining Lease(OML) 67, in 31 metres water depth in shallow marine, southeast offshore Nigeria with estimated recoverable reserves of 45 million barrels. OER has an ongoing multi-well drilling campaign on the field that commenced in October 2023.
POLITICS
2025 Budget: Consequences Will be Devastating, says CUPP
By Mike Odiakose, Abuja
The Coalition of United Political Parties (CUPP) on Wednesday said the consequences of the 2025 budget proposal presented to the National Assembly by President Bola Tinubu will be “far-reaching and devastating.”
According to the CUPP, the budget proposal is a stark reminder of the country’s persistent fiscal woes.
President Tinubu Tuesday presented a national budget of N47.
96 trillion for 2025 to the joint session of lawmakers in the National Assembly.He said the budget which was put together based on economic realities and would trigger the prosperity of Nigerians in 2025 if implemented to the latter, adding that it would restore and consolidate key polices of government.
Tinubu said Nigerians have shown resilience in 2024 economic challenges, hence, he believed that the 2025 budget would leverage that so that the fabric of the nation can be built further in 2025.
However, in a statement signed by High Chief Peter Ameh, the Publicity Secretary of CUPP, said a cursory examination of the line items reveals a familiar pattern which includes, debt servicing continues to take a substantial chunk of the budget, while allocations for critical sectors such as healthcare, education, and infrastructure remain woefully inadequate.
“This phenomenon is not new; rather, it is a recurring tale that has plagued Nigeria’s budgeting process for years,” the statement added.
“The implications of this trend are far-reaching and devastating. As debt servicing continues to drain the country’s resources, poverty levels have skyrocketed, and economic growth has stagnated.
“The human cost of this mismanagement is evident in the lack of access to basic necessities such as healthcare, education, and clean water.
“The failure to address these pressing needs has led to widespread disillusionment and frustration among Nigerians.
“The President’s budget proposal for 2025 presents an opportunity for a paradigm shift. By prioritizing investments in critical sectors, the government can create jobs, stimulate economic growth, and reduce poverty. However, this requires a fundamental transformation of the budgeting process, one that prioritizes transparency, accountability, and stakeholder engagement.
“To break the cycle of annual rituals, the government must adopt a more proactive and responsive approach to budgeting. This includes involving civil society, the private sector, and citizens in the budgeting process to ensure that allocations reflect the country’s pressing needs.
“Performance-based budgeting, where funds are allocated based on performance indicators and project outcomes, can also help to ensure that resources are utilized efficiently.
“Furthermore, the government must address the issue of debt servicing, which continues to drain the country’s resources. Debt restructuring, revenue enhancement, and budget realignment are potential strategies that can help to alleviate this burden.
“The 2025 budget proposal presents a critical juncture for Nigeria. Will the government continue down the path of debt servicing and neglect, or will it seize the opportunity to transform the budgeting process and prioritize the needs of its citizens?
“The choice is clear, and the consequences of inaction will be dire. It is time for a new approach, one that prioritizes transparency, accountability, and the well-being of all Nigerians.”