Max Air Boeing 737 Suffers Multiple Tire Bursts Upon Landing Abuja Airport

Max Air Boeing 737 suffers multiple tire bursts upon landing Abuja Airport, Nigeria

By Bart Noëth -7 May 2023

A Max Air Boeing 737-400 (registered 5N-MBD) suffered multiple tire bursts upon landing at Abuja Airport, Nigeria operating a domestic flight from Yola. The 144 passengers and 6 crew members safely left the aircraft. The airport authorities were forced to close the airport for a period to remove the 737 from the runway. 

Very little is known about the airline, but planespotters.net knows that Max Air has actually 4 Boeing 737, 1 Boeing 747 and 2 Embraer ERJ-145 in service.

Max Air is a domestic and international airline based in Nigeria, the country’s longest-serving international airline. Established in 2008 by business mogul Alhaji Dahiru Barau Mangal, the company’s head office is located in Kano State with its base at Mallam Aminu Kano International Airport, Kano. (wikipedia Max Air)

Source: https://www.aviation24.be/airlines/max-air/boeing-737-suffers-multiple-tire-bursts-upon-landing-abuja-airport-nigeria/

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Nigeria, Benin, Niger, Togo Power Consumers Owe Discos N1.4tn

Eleven power distribution companies have lost over N1.4tn in revenue to the non-payment of electricity bills by Nigerians and consumers in Benin, Niger and Togo.

In Nigeria, many customers supplied electricity by the Discos are issued invoices based on meter bands and the number of hours supplied every 30 days, while others with prepaid meters load prepaid power units onto their meters.

Data from quarterly reports and Discos energy sales records published by the Nigerian Electricity Regulatory Commission from 2019 to 2022 showed that out of the N4.30tn billed customers, only N2.92tn was reimbursed to the companies.

This represents a collection efficiency of over 55 per cent, whereas the Discos are heavily indebted to local banks.

As of August 2022, the Discos were unable to pay the N2tn debt owed the power generation companies.

Last week, the Market Operator, a division of the Transmission Company of Nigeria, disconnected the Kano Electricity Distribution Company, Kaduna Electric and APLE Electric from the national grid for failing to settle their debts, thereby throwing customers in their franchise areas into darkness for days.

The affected Discos were, however, reconnected on Monday, May 1, 2023 following the intervention of the Minister of Power, Mr Abubakar Aliyu.

They were subsequently given 60 days to settle their outstanding invoices.

A breakdown showed that the Discos billed Nigerians N690.2bn in 2018, N730.88bn in 2019, N816.16bn in 2020, N1.1tn in 2021 and N840.18bn in 2022.

However, revenue receipts showed that N442.3bn was collected in 2018; N483.65 in 2019; N542.73bn in 2020; N771.3bn in 2021; and N596.63bn in three quarters OF 2022.

Benin, Togo, Niger owe N22.55bn

Findings indicate that neighbouring customers are also indebted to the Nigerian power distribution firms to the tune of N22.55bn for unremitted payment for electricity supplied in five years.


NERC pointed out that the power firms were indebted to the Nigerian Bulk Electricity Trading Company Plc and the power market operator.

Under an international treaty, Nigeria sells electricity to neighbouring countries like Benin Republic, Togo and Niger Republic through Paras-SBEE, Transcorp-SBEE and Mainstream-NIGERLEC, respectively.

Data gathered showed that an invoice of N50.01bn was sent to the firms in 2018; N30.03bn in 2019; N16.22bn in 2020; N7.67bn in 2021 and N4.66bn in 2022.

While N9.62bn was received as revenue in 2018; N56.94bn was collected in 2019; N12.06bn in 2022; N2.9bn in 2021 and N4.62bn in 2022.

However, the commission did not specify the number of megawatts supplied to the countries in the same period.

Explaining reasons for the non-remittance of revenue by the bilateral consumers, the commission stated in the report, “The Nigerian government has continued to engage governments of neighbouring countries benefiting from the export supply to ensure timely payment for the electricity purchased from Nigeria.”

Experts’ opinions

Reacting to the development, the Director, Research and Advocacy, Association of Nigerian Electricity Distributors, Sunday Oduntan, urged customers to pay up their bills, stressing that the debts were affecting the viability of the power sector.

He said, “As Discos, we implore everyone to pay their debts so that we can also pay what we owe the market.

“We are electricity distributors and the industry’s collection agents. Anytime a customer defaults in paying the bill, it affects our ability to pay the generation companies. It is a value chain and every action or inaction affects our sustainability.”

Oduntan added that the association was intensifying efforts through collaboration as high debts had diminished the sustainability of the sector in a way that was impacting businesses, paying of salaries, and meeting contractual obligations.

He added, “One important thing is that everybody has a role to play, from consumers to service providers and the government. We all need to work together; there is a need for collaboration in ensuring that our people pay their bills.

“We want the sector to be vibrant and reduce the indebtedness in the sector, but we can only do that if we all work together to ensure that everybody plays their own part. We will intensify efforts to ensure that our customers pay their debts. We also enjoin them to please pay their debts.”

When asked for possible solutions, the director stated that increased awareness was part of the activities being carried out to engage customers.

“Yes, it is one of the solutions that can change the narrative and we are doing that. Recently, we visited Enugu and Benin for continuous customer engagement, information sessions and town hall meetings. There is a need for more information and we are doing that through interacting with our customers, and through television and radio interviews; we are also resolving customer service issues between the Discos and the consumers,” Oduntan added.

On his part, the Associate Editor of SPE Journal of Economics and Management, Prof Wumi Iledare, in an interview with Saturday PUNCH said debts were limiting the ability of the Discos to pay the generating firms and the transmission company, which had to pay for gas used in generating power.

He said, “Certainly, such a massive debt has implications for the Discos. It limits the ability of the Discos to pay the generating companies and the transmission company. Interestingly too, the Gencos are badly affected and are unable to pay for the gas used to generate power, leading to electricity market failures.

“Of course, to a large extent, the Discos have the responsibility to install meters and they have failed. Subsequently, they are delimited in revenue collection with no tool to disconnect power without incurring additional costs.

“The solution is power decentralisation. Perhaps, there may be a need to revisit the Nigerian Electricity Regulatory Commission and the Energy Commission of Nigeria for a proper electricity market restructuring; the Petroleum Industry Act and the Central Bank of Nigeria type of restructuring.”

An energy expert, Yemi Oke, said the industry regulators should be blamed for the unrecovered funds as strict regulation would force the Discos to increase revenue collection.

He advised the Discos to take legal action to recover the debts or disconnect errant entities, adding that the huge amount was not an excuse to keep Nigerians in darkness.

He also advocated another round of reacquisition and refinancing because none of the Discos was solvent.

Oke said, “I blame the regulators because I have always argued that NERC is a weak and lame entity that is not living up to expectations. We need a serious, strict and aggressive regulator, which knows the rules and the law, and is able to apply the law to whip players in line.

“We can’t continue to have a weak regulator and have a buoyant industry, and it is a question of using the power sector for patronage in terms of acquisitions. Even the regulator is being polarised by needless political sentiments and that is not going to help the country.

“If the regulator is not independent and efficient, it will not get anything achieved; it will be an anything-goes kind of setting and I guess the starting point is to get an efficient regulator, which is able to whip those in the system in line with accepted global practices.

“I don’t think the debt claim is sufficient for Nigerians to continue in darkness. If the companies are not solvent, does it mean Nigerians have to suffer? If they are not competent and are not buoyant, then those assets should be sold to competent and financially suitable entities, which can rejig them and pump money so that the power sector can deliver on its mandate.”

Efforts to get the reaction of NERC proved abortive as its spokesperson, Usman Arabi, did not respond to enquiries by our correspondent.

Manufacturers’ N221bn expenditure

Manufacturers spent at least N221.69bn on self-generated power to run their factories in 2021 and 2022, this is according to the Manufacturers Association of Nigeria.

The Director-General, MAN, Segun Ajayi-Kadir, who disclosed this in an exclusive interview with Sunday PUNCH, also cited energy costs alongside other biting challenges as the primary cause of the dip in production output and the volume of sales.

Out of this amount, the Bi-Annual Economic Review published by MAN put the amount spent last year for the same purpose at N143bn.

The report indicated that electricity supply to the industries from the national grid declined marginally to 11 hours per day in the second half of last year from 12 hours recorded in the first half.

A breakdown of manufacturers’ energy cost revealed that expenditure on alternative energy sources increased by 70 per cent to N76.7bn in the second half of 2022 from N45.04bn recorded in the corresponding half of the previous year.

It also rose by N8.9bn or 13 per cent when compared with N67.8bn recorded in the preceding half. The expenditure was incurred on procurement of diesel, gas, generators and spare parts, inverters and UPS, among others.

The report said the average outages per day stabilised at four times in the second half of 2022, the same as it was recorded in the first half of the year.

The manufacturers stated that the trend showed that power supply to the industries was still a huge challenge, which accounted for huge investment by industrialists in self-energy generation.

Ajayi-Kadir said, “Production activities were reduced because of the environment; many companies, because of the prevailing situation — forex, power and so on – had to cut down on production. Many that were running up to three to four shifts had to reduce to two or one.

“Inadequate power supply to the economy has been a core challenge for industries in Nigeria. It is responsible for the high cost of manufacturing production and domestic commodities prices in the country. The poor energy situation is underlined by the mere 4,000MW distributed daily through the national grid.

“Specifically, for manufacturers, they have resorted to alternative energy generation in order to sustain production notwithstanding the associated prohibitive cost. For instance, the survey conducted by MAN shows that in 2021 and 2022, manufacturers expended about N221.69bn on diesel, gas, generator/spare parts, inverters[/, UPS, etc so as to sustain operations in the sector. The power scenario in the country today is mainly traceable to years of limited investment in electricity value chains; generation, transmission and distribution.

“The ideal situation is that as industrial activity grows, more investment is made to boost power supply to support the level of industrial expansion. However, this has not been the case in Nigeria as the power sector has suffered inadequate or misplaced investment. The post-power sector privatisation also threw up the same lacuna – lack of investment.

“We didn’t attract international and local energy companies that have the expertise and financial muscle for such capital-intensive projects. Today, apart from government intervention that has been driving electricity production, albeit sub-optimally, private investment has remained low.”

The MAN DG added that to improve the level of electricity generation, transmission and distribution, the Federal Government should review the power sector privatisation to allow for the presence of strong international energy equipment producers and companies.

Ajayi-Kadir stated, “In addition, to support the industries, the following measures are critically important: develop and implement a roadmap for improved power supply focusing on off-grid solutions and independent power projects; and concretely address the claim by Discos of ownership of the geographical areas they operate. The claim has truncated laudable projects such as the off-grid initiatives.

“Also, we need to carry out further investment in the electricity value chain and commit to adding 10,000MW to the current electricity distributed in the country; embrace and support significant development of energy mix and renewable – the country has huge potential for solar and wind energies; resuscitate the existing national refineries to produce fuels locally; review the gas price for domestic consumption to be at par with the export price, which is about $3.25 per cubic meter; promote energy efficiency and renewable energy deployment in industries and homes; incentivise more investment in gas aggregation to end gas flaring; and optimise crude oil production based on OPEC quota.”

Source: https://punchng.com/Nigeria-Benin-Niger-Togo-power-consumers-owe-Discos-N1.4tn

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Tiwa Savage, Lionel Richie To Perform At King Charles III's Coronation Concert

The BBC is holding a coronation concert for King Charles on the grounds of Windsor Castle at 8 o'clock tonight. It will be reminiscent of the Party at The Palace which was held at Buckingham Palace to mark Queen Elizabeth II's Golden Jubilee in 2002. 

Activities to mark King Charles III's coronation continue today with lunches and street parties all over the United Kingdom. American First Lady, Jill Biden, attended a lunch that was held on Downing Street outside the residence of the British Prime Minister. Members of the Royal Family are attending similar lunches all over the country. 

The celebrations will climax with the concert tonight at which Nigerian singer, Tiwa Savage will join a galaxy of stars to perform at Windsor Castle.

Coronation concert line-up: Who will be performing?

All the stars who will be appearing at the event


With just days to go until King Charles ascends to the throne, many want to know what the Coronation Concert line-up will look like.

King Charles III and Queen Consort Camilla will celebrate their ascension to the throne with the Coronation Concert on 7 May, which promises to bring both global music icons and contemporary stars together. While February saw the public eager to know how to get Coronation Concert tickets(opens in new tab) and the Royal roles at King Charles’ coronation revealed(opens in new tab), now attention has turned to the line-up for the event.

The late Queen Elizabeth's Platinum Jubilee(opens in new tab) saw a star-studded array of artists perform at the royal celebration - including Diana Ross, Sam Ryder, Elton John and Craig David - suggesting the upcoming Coronation Concert will be an equally unmissable affair.

Coronation Concert line-up

Take That, Lionel Richie, Katy Perry, Andrea Bocelli, Sir Bryn Terfel, Freya Ridings and Alexis Ffrench were all confirmed as the first performers for the Coronation Concert. Since then, Paloma Faith, Nicole Scherzinger and Olly Murs have also all been announced.

Appearing alongside them will be singer-songwriters Tiwa Savage and Steve Winwood, Bollywood star Sonam Kapoor, internationally renowned pianist Lang Lang, DJ Pete Tong, singer Vula, and emerging artist JERUB.

A number of famous faces will also be making an appearance in a number of pre-recorded segments revealing little-known facts about King Charles, and these include Tom Cruise, Dame Joan Collins, Sir Tom Jones, Bear Grylls OBE, Oti Mabuse and Disney's Winnie the Pooh.

Alongside the star-studded line-up, Buckingham Palace has said that the Coronation Concert will see an exclusive appearance from The Coronation Choir - made up community choirs and amateur singers from across the UK - as well as The Virtual Choir, made up of singers from across the Commonwealth.

Take That

Gary Barlow, Howard Donald and Mark Owen have performed at many Royal Variety Performances over the years and supported The Prince’s Trust charity. 

The band have said ahead of the concert: "This will be our first live show since the Odyssey Tour, four years ago in 2019, and what a stage to come back on! A huge live band and orchestra, a choir, military drummers, the backdrop of Windsor Castle and the celebration of a new King. We can’t wait."

The coronation performance isn't the only exciting thing for fans, as the new Take That movie Greatest Days(opens in new tab) is also coming out in June.

Lionel Richie

International superstar Lionel Richie was appointed as The Prince’s Trust’s first Global Ambassador and Chairman of the Global Ambassador Group in 2019. 

He said: "To share the stage with the other performers at The Coronation Concert is a once-in-a-lifetime event and it will be an honor and a celebration."

Katie Perry

Perry was appointed an ambassador of The British Asian Trust, a charity founded by The King when Prince of Wales, in 2020. She is also a UNICEF Goodwill Ambassador, and her own Firework Foundation, which empowers children through the arts. 

Katy Perry has said ahead of the concert: "I am excited to be performing at the Coronation Concert, and helping to shine a further light on the British Asian Trust’s Children’s Protection Fund, whose work includes on-ground initiatives to fundraising, with the aim to find solutions to child trafficking."

Andrea Bocelli and Sir Bryn Terfel

Maestro Andrea Bocelli and Sir Bryn Terfel will perform a duet for the concert. 

Bocelli - who sponsors an annual scholarship programme at The Royal College of Music through the Andrea Bocelli Foundation - has said of the Coronation Concert: "I have had the great honour of singing for Her Majesty Queen Elizabeth II on several occasions. It is now another great honour to be asked to perform at the Coronation Concert of King Charles III. My joy and excitement is multiplied as I have the chance to duet with my dear friend and superb baritone, Sir Bryn Terfel, performing an iconic song of love and collective solidarity."

Meanwhile, Sir Bryn Terfel - who was made a Commander of the British Empire (CBE) for his services to Opera in 2003 and received a knighthood for his services to music in 2017 - said of the occasion: "Having sung at numerous events that were connected to the patronages King Charles held as the Prince of Wales, it is an incredible honour to be singing now at the Coronation of His Majesty The King, Charles III. I am also delighted to be performing at the celebratory concert in Windsor, another opportunity for me to sing with my great friend and colleague, the wonderful Italian tenor, Maestro Andrea Bocelli."

Freya Ridings and Alexis Ffrench

Singer songwriter Freya Ridings will perform a duet with classical composer, producer and pianist Alexis Ffrench.

Ffrench is a passionate advocate for music education and he serves as a Governor and Trustee of the Royal Academy of Music. He said of the Coronation Concert: "To have been invited to perform in the Coronation Concert held in celebration of His Majesty King Charles III is an honour of the utmost magnitude. Such moments are unequivocally iconic and exceedingly rare, and I am delighted to share the stage with the wonderfully talented Freya Ridings on this momentous occasion."

Frey Riding added, "I feel truly overwhelmed and in awe of the opportunity to sing at the Coronation of His Majesty Charles III - it feels like a “pinch me” once in a life time moment in history and I’m feeling very honoured to have been asked. Excited to be playing with a wonderful orchestra and alongside the incredible Alexis Ffrench on piano!"

Paloma Faith

Award-winning singer, songwriter, actor and TV personality Paloma Faith has released five critically acclaimed platinum-selling albums and collected dozens of awards, as well as appearing as a judge on The Voice UK and The Voice Kids.

Tiwa Savage

Tiwa Savage is a Nigeria-born singer-songwriter whose blend of Afrobeats, R&B, pop and hip-hop earned her an MTV Europe Music Award for Best African Act, making her the first woman to win in the category.

Speaking ahead of the coronation concert, she said: "It’s truly an honour to be representing Africa and the Commonwealth at such an historic event. I look forward to joining the celebrations and bringing Afrobeats to Windsor Castle for the first time!"

Steve Winwood

Singer-songwriter Steve Winwood has sold over 50 million records in the course of his five-decade career as a rock 'n' roll star. At the coronation concert, he will sing alongside the Commonwealth virtual choir.

Winwood has said: "I was alive and just about remember the Coronation of Her Majesty Queen Elizabeth II and I, together with millions and millions of other people all around the globe, am a lifelong monarchist. So to be included in the Coronation celebrations of Their Majesties King Charles and Queen Camilla is for me a lifetime achievement for which I’m extremely humbled and honoured."

https://www.goodto.com/entertainment/royal-news/coronation-concert-line-up

Second photo: Top row, left to right, Take That, Lionel Richie, Katy Perry. Bottom row, left to right, Andrea Bocelli, Sir Bryn Terfel, Freya Ridings and Alexis Ffrench

Third and fourth photos: Windsor Castle

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Ike Ekweremadu joins List Of infamous Nigerians Locked In Foreign Countries

Locked in foreign countries: Ekweremadu joins infamous list of Hushpuppi, Buruji, Invictus

Ekweremadu was on Friday sentenced to about 10 years imprisonment, alongside his wife, Beatrice on the charge of conspiracy to traffic organs.

A former Deputy Senate President, Senator Ike Ekweremadu has joined the list of notable Nigerians that have either been locked up in foreign jails in the past or are still serving jail terms.

The Nigerian longest-serving deputy senate president is now in the company of notable Nigerians that have tested or still testing prisons on foreign soil.

He is in the company of fraudsters, politicians, and even acclaimed “freedom fighters”.

Obinwanne Okeke

Okeke was on the cover of the prestigious Forbes Magazine, where he was listed as one of the 30 under 30. A special editorial that highlights people under 30 that have accomplished significant feats.

Months later, he was nabbed for $11 million fraud and was sentenced to 10 years imprisonment by a District Court of Eastern District of Virginia, USA. Okeke, popularly known as Invictus Obi, is still serving his prison term.

Hushpuppy

Rahman Abbas, a popular Instagram celebrity, known as Hushpuppy is serving a sentence of 11 years in the US.

Hushpuppy, now convicted as a notorious fraudster, was sentenced by United States District Judge Otis Wright II, who also ordered him to pay $1,732,841 in restitution to two fraud victims.

James Ibori

The former Governor of Delta State, has a record of being convicted twice by the UK government.

He was reportedly convicted in 1991 for stealing from a store where he was working.

Ibori, who served as governor of Delta State from 1999 to 2007, was arrested in Dubai in 2010 and extradited to the UK.

He was convicted in the UK and was later released in 2016, from where he subsequently returned to Nigeria with a heroic welcome.

Diepreye Alamieyeseigha

The former Bayelsa State governor was arrested by the Metropolitan police in September 2005.

Alamieyeseigha, who was governor of the oil-rich state from 1999 until his impeachment in 2005, was being arraigned by the UK government but he subsequently jumped bail.

UK authorities seized $1.5million cash stashed in his London home.

They also seized $2.7 million in a bank account at the Royal Bank of Scotland and $15 million in London real estate.

He was subsequently jailed in Nigeria but was later granted a presidential pardon by ex-president Goodluck Jonathan.

Mr Alamieyeseigha died in 2015.

Sunday Adeyemo

The self-acclaimed leader of the Yoruba Nation also served a considerable amount of time in prison in the Benin Republic.

Adeyemo, popularly known as Sunday Igboho, fled Nigeria following a raid of his House by the Nigerian secret police, the DSS.

He was reportedly arrested by the Republican police while trying to move to Germany. He was arrested at Cardinal Bernardin International Airport in Cotonou in 2021.

He was released in 2022 on the condition that he must not leave Cotonou and must not hold any rallies.

Kashamu Buruji

Kashamu, who served as a senator in the 8th Assembly, was reportedly arrested in the UK in 1998 after trying to enter the country with $230,000 in cash.

In 2003, a British court refused a US request to extradite Kashamu, citing uncertainty about his identity. He was then freed from prison where he had been for five years after being found carrying $230,000 when he was arrested.

The late senator spent years fighting against an attempt to extradite him to the US.

Henry Okah

Henry, the younger brother of the leader of MEND, Charles Okah, has been in prison in South Africa since 2013.

He was handed a 24-year prison term in connection with the 2010 Independence Day bombing.

The South African court convicted Okah on 13 charges of terrorism.

https://dailypost.ng/2023/05/07/locked-in-foreign-countries-ekweremadu-joins-infamous-list-of-hushpuppi-buruji-invictus/

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Man 'intentionally' Rams Car Into Migrants In Texas. 7 Dead, 6 Injured

The Land Rover SUV is believed to have 'intentionally' plowed into pedestrians outside the Ozanam Center at 8.20am on Saturday. Multiple victims were seen on the ground following the incident

[quote]Seven people were killed and up to six were injured Sunday after they were struck by a vehicle while waiting at a city bus stop outside of a migrant shelter in the border city of Brownsville, Texas, police said.

Brownsville police investigator Martin Sandoval said the crash happened about 8:30 a.m.

Shelter director Victor Maldonado of the Bishop Enrique San Pedro Ozanam Center said he reviewed the shelter’s surveillance video on Sunday morning after receiving a call about the crash.

The city bus stop is across the street from the shelter and is not marked. There was no bench, and people waiting there were sitting along the curb, Maldonado said. He said most of the victims were Venezuelan men.

“What we see in the video is that this SUV, a Range Rover, just ran the light that was about a 100 feet away and just went through the people who were sitting there in the bus stop,”Maldonado said.

He said the SUV flipped after running up on the curb and continued moving for about 200 feet (about 60 meters). Some people who were walking on the sidewalk about 30 feet away from the main group were also hit, Maldonado said.

The Ozanam shelter is the only overnight shelter in the city of Brownsville and manages the release of thousands of migrants from federal custody. Brownsville has long been an epicenter for migration across the U.S.-Mexico border, and it has become a key location for next week’s ending of the pandemic-era border restrictions known as Title 42.

Sandoval told KRGV-TV that authorities are investigating whether the crash was intentional or an accident. They are also testing the driver, who was held at the scene by witnesses, for intoxication.

Maldonado said the center had not received any threats before the crash, but they did afterwards.

“I’ve had a couple of people come by the gate and tell the security guard that the reason this happened was because of us,” Maldonado said.

The shelter can hold 250, but many who arrive leave the same day. In the last several weeks, an uptick in border crossings prompted the city to declare an emergency as local, state and federal resources coordinated the enforcement and humanitarian response.

“In the last two months, we’ve been getting 250 to 380 a day,” Maldonado said.

While the shelter offers migrants transportation during the week, they are also free to use the city’s public transportation.

“Some of them were on the way to the bus station, because they were on their way to their destination,” the director said.

SOURCE 

(Very graphic video):
https://twitter.com/someonewhomaybe/status/1655274923001094148?t=f4Tifobu6g06qKVGMlPY2Q&s=19

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Yea 

Northern Govs Didn’t ‘necessarily’ Want Tinubu To Be President — Lalong

The Chairman of the Northern Governors Forum and Governor of Plateau State, Simon Lalong has said the Northern Governors of the APC did not necessarily want the President-elect, Bola Tinubu, to be President of Nigeria when they supported the power shift to the southern part of the country.

According to Lalong, who was also the Director General of Tinubu’s Presidential Campaign organisation, their push for a southern presidency was rather in order to promote the unity, peace and stability of Nigeria within the spirit of fairness, equity and justice which the late Premier of the Northern Region, Sir Ahmadu Bello, stood for.

Lalong was speaking at the 9th Annual Sir Ahmadu Bello Memorial Lecture on Leadership and Good Governance held in Lafia, Nasarawa State, a statement issued by his Director of Press and Public Affairs, Macham Makut, said on Saturday

The Governor said, “When I led my colleagues – the Northern Governors – to push for power shift to the South, it was not because we wanted Asiwaju to be President. Rather, we wanted to ensure that justice and fairness prevail in our nation for unity, peace and harmony. That is what we believe our revered father of blessed memory, Sir Ahmadu Bello, would do in such circumstances. Fortunately, the party delegates chose Asiwaju who was eventually accepted by Nigerians as he was unanimously elected”.

Lalong urged all Nigerians, both in the North and across the country, to support Tinubu as he takes on the mantle of leadership.

The governor noted that, because the late Sardauna lived a life of accommodation, tolerance, justice and fairness, his legacies have endured long after his demise and continue to inspire leadership in the region and country at large. According to him, the North is an important stakeholder in the Nigerian project and its contributions towards his election cannot be over emphasized.

“The Northern region needs serious attention in various sectors ranging from security, education, infrastructure, agriculture, economic revival and restoration of law and order in various areas that have been ravaged by insecurity.

“It is heartening to note that the Northern Governors Forum, under my leadership, has done a great deal of work on bringing our people together as one people with a common destiny,” Lalong added.

Nasarawa State Governor, Engr. Abdullahi Sule, said it was a privilege for his state to host the very important event, which reminds the region and the nation about the values that Sardauna lived and died for.

He said, although there have been challenges in the country after the demise of Sir Ahmadu Bello, some progress has been made which can be built upon to make the Northern region and Nigeria a better place.

Speaking on the topic “2023 Elections as Panacea for Search for Quality Leadership in Nigeria,” Kenyan Law Professor and pan Africanist, Patrick Lumumba, said the late Sardauna left behind several lessons for politicians which include his selflessness and sacrifice for the general good.

He said the question of unity and cohesion in Nigeria particularly after the 2023 general elections cannot be over emphasized because Nigeria plays a very key role in the stability of Africa being a giant in all ramifications.

Lumumba stressed that the sacrifices of founding fathers like Sardauna, who paid the supreme price, should not be left to go in vain but built upon for a greater Nigeria and Africa.

President Muhammadu Buhari in a message delivered by his Chief of Staff, Prof. Ibrahim Gambari, said it is important that Nigerians devote more attention to recruiting quality leaders who are capable of steering the nation in the right direction.

He also said the process of elections should also be looked at, and continuously improved upon to ensure that those who serve the people have their mandate and also enjoy their support.

Emir of Lafia, HRH Sidi Bage, said the lecture series is an opportunity to reflect on the dreams of Sardauna but also a way of putting critical national and regional issues on the front burner.

He thanked Governor Lalong, who as Chairman of the Northern Governors Forum, worked hard to ensure that the traditional Institution is given a place in the governance of Nigeria much as it was during the time of the Sardauna.

https://punchng.com/northern-govs-didnt-necessarily-want-tinubu-to-be-president-lalong/

FG To Begin N22.7tn Loan Repayment In 2026 –DMO

The repayments of principal to service the loans from the Central Bank of Nigeria through the Ways and Means Advances will begin in four years, Saturday PUNCH has learnt.

This was according to a disclosure by the Debt Management Office on the Securitization of the N22.7tn Ways and Means Advances.


In a Frequently Asked Questions statement by the DMO, it was disclosed that the loan approved by the National Assembly would be for a tenor of 40 years with an interest rate of nine per cent per annum.

It was also disclosed that there would be a moratorium on payment of principal for about three years.

The DMO noted that “The Securities will be issued to the Central Bank of Nigeria by the Federal Government of Nigeria.

“The Securities will not be issued to the public by the FGN to raise funds.”

The debt office also listed some benefits of securitization, saying that it would lead to debt transparency and reduce the debt service cost.


It said, “It will reduce the Debt Service Cost as the new Interest Rate is 9% p.a. compared to the Monetary Policy Rate plus three per cent which translates to 21.0 per cent p.a. (MPR – 18.0 per cent + 3 per cent) currently being charged on the Ways and Means Advances.

“The large savings arising from the much lower Interest Rate will help reduce the deficit in the Budget and expectedly, the level of New Borrowings.”

On the repayment, it noted that the Federal Government will begin repayment of interest this year while that of principal will begin in four years.

The debt office said, “Provisions for Interest on the securitized Ways and Means Advances (starting from 2023) and principal repayments starting from year four, will be made in the Annual FGN Budgets.”

The DMO also noted that the securitization of the Ways and Means Advances does not involve new money being given to the Federal Government as the CBN had already provided the funds to the government.

It added that based on statutory provisions, the approval of the Senate and the House of Representatives are required for the securitization, noting that the implementation will be upon receipt of the approval of the House of Representatives.

Both the Senate and the House of Representatives have approved the request of the President, Major General Muhammadu Buhari (retd) to restructure the N22.7tn Ways and Means Advances.


The PUNCH earlier reported that the Federal Government plans to spend N1.2tn on servicing the loans it got from the CBN through the Ways and Means Advances.

The 2023 fiscal framework document obtained by our correspondent showed that the Federal Government allocated N6.31tn to service its total debts.

A breakdown showed that the Federal Government allocated approximately N3.3tn to service domestic debts, N1.81tn for foreign debts and N1.2tn for ways and means.

The document also showed that this was the first time the Federal Government was making a budgetary allocation for ways and means.

The PUNCH had also reported that the Federal Government paid interests of N4.12tn between 2019 and 2022 on its borrowings from the CBN.

Ways and Means Advances is a loan facility used by the central bank to finance the government in periods of temporary budget shortfalls subject to limits imposed by law.

According to Section 38 of the CBN Act, 2007, the apex bank may grant temporary advances to the Federal Government with regard to temporary deficiency of budget revenue at such rate of interest as the bank may determine.


The Act read in part, “The total amount of such advances outstanding shall not at any time exceed five per cent of the previous year’s actual revenue of the Federal Government.

“All advances shall be repaid as soon as possible and shall, in any event, be repayable by the end of the Federal Government financial year in which they are granted and if such advances remain unpaid at the end of the year, the power of the bank to grant such further advances in any subsequent year shall not be exercisable, unless the outstanding advances have been repaid.”

However, the CBN has said on its website that the Federal Government’s borrowing from it through the Ways and Means Advances could adversely affect the bank’s monetary policy to the detriment of domestic prices and exchange rates.

“The direct consequence of central banks’ financing of deficits are distortions or surges in the monetary base leading to adverse effects on domestic prices and exchange rates i.e. macroeconomic instability because of excess liquidity that has been injected into the economy,” it said.

The World Bank had, in November 2021, warned the Nigerian government against financing deficits by borrowing from the CBN through the Ways and Means Advances, saying this put fiscal pressure on the country’s expenditures.

The World Bank also projected that interest payments on the Federal Government’s borrowing from the CBN would gulp about 62 per cent of government revenue by 2027 despite the restructuring plan.

https://punchng.com/fg-to-begin-n22-7tn-loan-repayment-in-2026-dmo/