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Don’t make hasty decisions, beware of hypocrites, Akiolu advises Sanwo-Olu

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Don’t make hasty decisions, beware of hypocrites, Akiolu advises Sanwo-Olu

Lagos monarch, Oba Riliwanu Akiolu, has advised the state governor, Mr Babajide Sanwo-Olu, against making hasty decisions, and to beware of hypocrites.


Akiolu gave the advice at a Sanwo-Olu had with the state Council of Obas at the Lagos House, Alausa.

Also in attendance at the meeting was the Deputy Governor, Dr Obafemi Hamzat.

The monarch said that many of those who would throng Sanwo-Olu’s office with advice were hypocrites mainly concerned with what benefits them, and not for the general public.

Akiolu said attending the meeting became necessary because all those elected and given leadership positions must be respected by all, including monarchs.

In an interview with newsmen shortly after the meeting, the monarch said it was used to discuss germane issues on security and socio-economic development of the state.

Akiolu said the visit was to felicitate with the governor on his success at the polls and bring greetings from the kingdoms the traditional rulers administer.

He promised that the monarchs and their chiefs would work with the governor to ensure that his administration records tremendous achievements, especially as it concerns security.

Akiolu, who spoke in Yoruba, also debunked claims that he was a puppet to some bigwigs in the country.

He said that he feared no one except God, and would always speak my mind, aside speaking truth to power.

Sanwo-Olu thanked the traditional rulers for the visit and promised to foster a working relationship with the traditional institutions for the state to be safe and be a destination of choice for investors.

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Economy

Budget deficit: Don urges FG to list NNPC on stock exchange

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The federal government has been urged to prioritise the listing of the Nigerian National Petroleum Corporation (NNPC) on the Nigerian Stock Exchange (NSE) as part of its Economic Sustainability Plan.


Uche Uwaleke, Professor of Capital Market at the Nasarawa State University Keffi, said this on Monday in an interview with the News Agency of Nigeria in Lagos.

He said listing of NNPC on the NSE “has become necessary especially now that the corporation has announced plans to diversify into other business areas such as power, health care and agriculture.”

Uwaleke said offering part of shares of NNPC for sale on the Exchange would help government reduce its fiscal deficit and borrowing.

He noted that it would enable the government raise money to finance the capital component of the 2020 budget.

Uwaleke, who is also the president of the Association of Capital Market Academics of Nigeria, said the development would strengthen the stock market by attracting both domestic and foreign investors.

According to him, it will also open the doors for other companies to be listed on the nation’s bourse.

“It will also improve the governance and transparency of the corporation which not a few consider opaque,” Uwaleke stated.

He said the federal government should take a cue from the experience of the Saudi Arabia government which in December 2019, successfully sold part of its shares in the country’s oil company.

Uwaleke stated that the government of Saudi Arabia sold part of its shares in Aramco on the Saudi Arabia’s stock exchange and raised a lot of money in the process.

He added that the government should sell part of its stakes in the Nigerian Liquefied Natural Gas Company on the Exchange, while still maintaining its majority shareholding.

“Currently, the federal government has 49 per cent equity in the LNG company while the remaining shares are held by Shell Gas (25.6 per cent), Total (15 per cent) and Eni International (10.4 per cent),” he said.

NAN reports that NNPC recently disclosed plans to diversify into a number of business portfolios as part of measures to cope with the volatility in the global crude oil market and to sustain revenue generation for the country.

Dr Kennie Obateru, NNPC Group General Manager, Group Public Affairs Division, said in a statement that the corporation was making plans to diversify into power, medical, housing and other sectors to strengthen the profitability of the national oil company.

Edited By: Chioma Ugboma/Salif Atojoko (NAN)

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General news

Safety: Don’t claim right of roads, FRSC boss warns motorists in Ekiti

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The Federal Road Safety Corps, (FRSC) Sector Commander in Ekiti, Corps Commander Elizabeth Akinlade, has warned motorists in the state against claiming right of way, urging them to drive defensively.


Akinlade, who gave the warning in an interview with the News Agency of Nigeria, in Ado-Ekiti on Monday, said motorists should drive defensively to stay alive.

She noted that any driver who believed in claiming right of roads, rather than driving defensively mighty lose his or her life in the process.

The FRSC boss, who spoke shortly after she assumed duty at RS 8.2, Ado-Ekiti, said, “my piece of advice to motorists on Nigeria roads, particularly in Ekiti is that they must drive defensively.

“You don’t see a truck coming infront of you and you claim that the truck driver is supposed to know who has the right of way.

“What if such truck or vehicle driver has lost concentration and you are claiming your right of roads; it means you want to go untimely.

“Therefore, we advise Ekiti people to obey all traffic rules and regulations, and in addition, drive defensively to stay alive.”

The Ekiti sector commander described road safety as everybody’s business, and called for concerted efforts by all stakeholders to ensure that the roads were safe for all.

She disclosed that the command would go into aggressive public enlightenment of road users and ensure capacity building for the officers and men to perform optimally.

“We are going to be doing a lot of public enlightenment, and collaborate more with stakeholders to ensure capacity building, like training the trainers of our men and officers.

“All these are to ensure safety of every road user, irrespective of whether he or she is trekking, riding a bike or on the wheel,” she said.

Akinlade warned motorists against disobeying traffic rules and regulations, a d added that there would be strict sanction against violators.

NAN reports that the new Ekiti sector commander was the Zonal Administrator, Rs2HQ, Lagos.

Edited By: Remi Koleoso/Ejike Obeta (NAN)

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Economy

Democracy day: Continuous investment in agriculture key to Nigeria’s economic advancement– Don

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Dr Hamza Soliu, a Lecturer of Economics, Ahmadu Bello University Zaria says continuous investment in agriculture is key to the country’s economic advancement.


Soliu said this while speaking with the News Agency of Nigeria in Abuja on Friday.

He was reacting to President Muhammadu Buhari’s speech to commemorate Nigeria’s Democracy Day.

The economist explained that agriculture and farming activities were strategic ways for diversification to ensure robust economy in the country.

The university don added that the present administration must make frantic effort to harness mineral resources for the benefit of Nigerians.

According  to him, government should boost infrastructural development in rural areas to check rural/urban migration.

This he noted would go a long way in addressing the challenges of unemployment.

Soliu said that the insecurity challenges across the country must be addressed headon to have a prosperous nation.

“The informal economy is worst hit by insecurity, especially in the north.The country’s security architecture is facing its worst challenges like insurgents, bandits, kidnappers and communal clashes all over the place.

“Oil prices is not doing so well to give the government the leeway to face these issues, therefore, economic diversification is strategic in boosting the country’s economy,” he said.

The economist also urged the government to expand its interventions on palliative distribution to more elderly persons in the society to cushion the effect of COVID-19 pandemic.

According to him, the elderly persons are vulnerable and need special attention at this trying period.

Edited By: Ese E Ekama (NAN)

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Politics

Don’t forget June 12 struggles, APC chieftains tells Nigerians

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A Chieftain of  All Progressives Congress(APC), Mr Nwaeze Onu, on Friday urged Nigerians not to forget the struggles of June 12, 1993.


Onu, who is the Director of a Non-Governmental Organisation, National Council for Democratic Development (NCDD), gave the advice in a statement to mark the 2020 Democracy Day.

Onu noted that Nigerians from all divides made huge sacrifices in the struggle to restore Chief MKO Abiola’s mandate, in an election adjudged the freest so far in the country.

“To all Nigerians, as we celebrate June 12, it should offer us all, some historical lessons that should positively affect our political development and should serve to remind us of the sacrifice many made that we may have democracy in our country,’’ he said.

Onu said that the sustenance of the nation’s democracy requires a genuine partnership from all Nigerians.

He said that the NCDD would continue to keep guard and support efforts to deepen democracy in the country.

“Democracy should essentially preserve and promote the dignity and fundamental rights of individuals in Nigeria, achieve social justice, foster economic and social development of communities, strengthen the cohesion of societies and enhance national tranquility and cohesion.’’

He congratulated President Muhammadu Buhari and all Nigerians on the occasion of the Democracy Day.

Edited By: Johnson Eyiangho/Obike Ukoh (NAN)

 

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