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Nigerian Presidency Not Retirement Home – Peter Obi

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By Mathew Dadiya, Abuja

The presidential candidate of the Labour Party (LP), Mr Peter Obi, yesterday took a swipe at his political opponents, saying that Nigeria’s presidency is neither a retirement home nor a place where people wait for turns.

The former Anambra State Governor was referring to his rival candidates of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar and that of the All Progressives Congress (APC), Asiwaju Bola Tinubu, both of who are in their 70s.

Obi made the statement at a town hall meeting with the members of Anambra State Traditional Rulers Council in Awka.

Obi who enumerated the powers of a president in the socio-economic and political situations, cautioned Nigerians against electing the wrong person as president on Feb.

25.

He blamed the problems of insecurity, inflation, unemployment and others on the consumption nature of the economy.

Obi said, if the country would leapfrog from consumption to production, most of the inherent problems would reduce.

He stressed the need for the country to take advantage of its agricultural potential to tackle unemployment.

Obi urged the traditional rulers to support the emergency of credible political leaders.

“Sitting on the fence during the 2023 elections might be costly for the country politically.

“I know that the constitution requires that the traditional rulers should not play partisan politics, but when bad leaders are elected it affects you adversely like others.

“For this, you must get involved in a manner that you would not be seen, but your actions felt,” he said.

Obi noted that Nigeria is the only crude oil-producing nation that the ongoing Russian/Ukrainian war has not improved its economy.

HRH Igwe Sunday Okafor of Okpuno Community, Awka North Local Government Area, Anambra said the royal fathers were happy with the wave being made by Obi.

“We are happy that your candidacy today is trailed by news of your competency, capability and capacity to man the presidency of Nigeria.

“The news around your aspiration is that you represents hope for a new Nigeria and not that you came from the South-East and we are happy for that,” Okafor said.

On Monday, the Labour Party presidential candidate also said the presidency is not “turn by turn.”

Apparently referring to his counterpart of the APC, Bola Tinubu’s recent remark, Obi said it’s the turn of Nigerians and the South-East to be president.

He spoke yesterday during his campaign rally in Delta State.

Obi said if the presidency was to be “turn by turn,” it would be his “turn.”

According to Obi: “Somebody said it is his turn to be president, I want to tell you that the president is not turn by turn. If it is turn by turn, it is supposed to be my turn, but we are not using turn by turn. It is the turn of Nigerians to be president especially those full of energy.”

The former Anambra State Governor said Nigerians should hold him responsible if he fails in security and economy if elected president.

“Hold me responsible if we failed you in the area of security, economy. We will make the country work again,” he said.

He also promised to ensure that strikes in the education sector ends if elected president.

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TCN Restores Grid After System Disturbance

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The Transmission Company of Nigeria (TCN ) has successfully restored the national grid following a system disturbance that occurred at 4:28 p.m. on Thursday, with full recovery achieved by 10:00 p.m. that same day.

According to a report from the National Control Centre (NCC) in Osogbo, the system disturbance was triggered by a significant reduction in generation capacity, primarily due to gas constraints.

This reduction led to a rapid decline in system frequency.

In a statement, TCN said this situation “created a sudden imbalance in the grid.”

“The imbalance in grid stability was exacerbated by the sudden tripping of Egbin generation turbine 3, resulting in an additional loss of 167MW load and the subsequent collapse of the grid.

“The grid has, however, since been recovered and is stable, and is currently transmitting all the generated power to distribution load centres nationwide,” the statement said.

“TCN emphasizes its unwavering commitment to addressing grid challenges and actively working to mitigate disruptions. In instances where challenges extend beyond TCN’s control, the company collaborates with other stakeholders in the power sector value chain to minimize the impact and swiftly restore the grid to normal” it further explained.

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AfDB Signs $75m Loan Agreement to Boost Indorama’s Fertilizer Production, Export Capacity

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The African Development Bank (AfDB), has signed a 75 million dollar loan agreement with Nigeria’s Indorama Eleme Fertilizer and Chemicals Limited.

The bank announced this in a statement issued on its website late Thursday.

According to the statement, the loan will enable Indorama to increase its fertilizer production and develop a port terminal for exports.

The statement also said that the loan would help in supporting food production and food security across regional and international markets while fostering job creation in Nigeria.

It said that the expansion would include the development of a third urea fertilizer production line and a new shipping terminal at Indorama’s facilities in Port Harcourt.

“The new production line is expected to have an annual capacity of 1.4 million metric tons of urea, one of the most widely used fertilizer worldwide.

“Indorama’s two operational urea fertilizer lines serve Nigeria’s domestic market.

“It supports the country’s agricultural sector, which accounts for a quarter of its Gross Domestic Product (GDP) and employs about a third of its labour force.

“The new production line and terminal, which will help meet growing global demand for fertilizer, is expected to create up to 8,000 direct and indirect jobs in Nigeria”, the statement said.

The statement also quoted the Acting Director of Industrial and Trade Development Department, AfDB, Ousmane Fall, as commending the partnership.

Fall said the bank was proud of its continued partnership with Indorama, the IFC, and other lenders on this critical project.

He said the partnership aligned with the bank’s strategic priorities to Feed  and industrialise Africa, while generating significant development outcomes in Nigeria.

Meanwhile, Manish Mundra, Group Director for Africa, Indorama Corporation said the establishment of the fertilizer plant underscored Indorama’s unwavering commitment to Nigeria’s industrial growth, economic diversification, and leveraging its strategic geographic location.

“This landmark financing represents a pivotal moment in Nigeria’s journey towards becoming a major player in the global fertilizer market.

“With this third line, Nigeria is prepared to significantly ramp up its export capacity, thereby, enhancing its position as a key exporter of fertilizer to Africa and the world.

“Furthermore, the establishment of this fertilizer plant will not only address critical issues such as broader food security but will also stimulate agricultural growth and create employment opportunities in Nigeria,” he said.

Reports says that the AfDB’s loan follows a strategy to support investment in private sector development to promote the growth of the real sector.

The 75 million dolllars loan is part of a 1.25 billion dollars facility arranged by IFC.

The financing package includes a 215.5 million dollars loan from IFC’s own account, a 94.5 million dollars loan through the Managed Co-Lending Portfolio Programme (MCPP), and 940 million dollars in parallel loans mobilised from other development finance institutions and commercial banks.

Some of the banks include the AfDB, Bangkok Bank, British International Investment, Citibank, Deutsche Investitions- und Entwicklungsgesellschaft (DEG), DZ Bank, Emerging Africa Infrastructure Fund (EAIF) and Rand Merchant Bank.

Others are Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), Export-Import Bank of India (India Exim Bank) and Export-Import Bank of Korea (KEXIM).

The Standard Bank Group, Standard Chartered Bank, and the United States International Development Finance Corporation (DFC) are also part of the banks.(NAN)

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NSCDC Arrests 3 Suspects with 1,625 Litres of Adulterated Diesel

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The Anambra Command of the Nigeria Security and Civil Defence Corps (NSCDC) has arrested three suspects with 1,625 litres of adulterated diesel.

The NSCDC Commandant in Anambra, Olatunde Maku, told newsmen on Friday in Awka, that the suspects were arrested on March 23 along Atani Road, in Odekpe, Ogbaru Local Government Area of the state.

He said that his team arrested Oluchukwu Okeke, 28, from Ogbaru in Anambra; Emeka Chukwuma, 34, also from Ogbaru in Anambra; and Ifunanya Ike, 29, from Mbano in Imo state.

According to Maku, they were conveying 65 kegs of 25 litres each of suspected adulterated diesel, estimated to be 1,625 litres in four different vehicles.

He said that the vehicles were two shuttle buses, a white-colored bus with registration number AWK429XY and another ash-coloured bus with registration number GDD277XB.

“This arrest was made possible in collaboration with the Nigerian Navy, and preliminary investigation revealed that the illegally refined products were loaded at Ogbakuma and headed to Okoti community, both in Ogbaru area.

“I want to commend the Nigerian Navy for their support in the fight against criminality in the state.

“This type of synergy is what is needed to wage a full-scale war against perpetrators of this heinous crime.

“NSCDC, as the lead agency in the protection of critical national, state, and local government assets and infrastructure, is known for its zero tolerance in crude oil theft and illegal bunkering activities.

“We remain focused on freeing Anambra state of illegal petroleum products racketeering and other related criminalities,” he said.

Maku added that the suspects would be arraigned in court as soon as investigations were completed.

He called on members of the public to assist the command in its renewed vigour to stamp out illegal oil refining activities in the state through the provision of intelligence on illegal oil bunkering activities within their domains. (NAN)

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