Oshiomhole: Rage of a desperate governor

 

 

By Ralph Odua
...In his first year in office he raised Edo State debt from N4.4 Billion to N18.8 Billion, the Central Bank of Nigeria was disgusted, it decided to nail Edo state and four others for over loan abuse
Governor Oshiomhole’s party ANC won two of the three senatorial seats in Edo State. He was shocked by the unexpected defeat at the hands of the PDP in Edo Central senatorial district. How did he react? He sacks all the Commissioners and Aides from Edo central senatorial district. Later he sacks more, and more and more.
Some of his victims are: Tom Adodo, the Transition committee chairman of Igueben local government area; the transition committee chairman of Esan Central; Tony Momodu; Special adviser on legal matters to the governor, Efosa Urhoghide; Chairman, State Broadcasting Board, Philip Olumese, and his State Water Board counterpart, Frank Erewele.
Gov. Oshiomhole who ironically was the president of Nigerian Labor Congress (NLC) for many years and an advocate of one-man-one vote did not fire these officials because they failed to what they were hired to do in their various positions, he took the anti-labor decision because they could not help him win election by all means in their constituencies. They were sacked, military style with immediate effect; no reason was stated for their punishment.
The hyperactive Oshiomhole was the first to say the election as free and fair. He failed in Esanland because of his ineffective campaign, and the effective campaign of PDP, and lack of popularity as a result of lack of achievement in Edo central and for increasing school fees, especially in Edo State University, Ekpoma. Instead of taking his message directly to the people, Oshiomhole was busy buying SUV’s and distributing millions of naira to party thugs to help him win by all means.
Oshiomhole’s lack of performance is not limited to Edo central alone, it’s throughout the state, for example at General Hospital Agenebode, and operations are carried out with torch light, a typical example of the failure in our health system. It’s the same story all over the state.
Would a sane person sack his employees or appointees and blame them for election loss in their constituencies? Oshiomhole is crazy; those benefitting from the massive looting of Edo State treasury will continue to defend him, right or wrong. We understand that.
The much publicized one man, one vote campaign initiated by comrade Adams Oshiomole sounds splendid, it had some positive political awareness for the people but it was actually a means to attack opponents and force members into Oshiomhole’s Action Congress of Nigerian. The one man, one vote campaign is nothing short of electioneering campaign for a desperate man.
Oshiomhole claimed he used N165 billion for infrastructural renewal, in spite of the “paucity of resources confronting the state.” In his first year in office he raised Edo State debt from N4.4 Billion to N18.8 Billion, the Central Bank of Nigeria was disgusted, it decided to nail Edo state and four other states, three from the Northern region and one from the South South, over loan abuse. Financial Institutions in Nigeria were prohibited from honoring and granting loan request to Edo state government in a circular that emanated from the office of the Central Bank Governor, CBN, Mallam Sanusi Lamido.
Oshiomhole’s government has put Edo State in a perpetual state of debt repayment for generations to come.
A copy of the appraisal of debt profile of the state in the about three year’s old government of Governor Adams Oshiomhole shows a frightening economic trend. In November 12th 2008 when Adams Oshiomhole took over the reign of government from Senator Oserheimen Osunbor, he met a debt profile of 4.4 Billion Naira; this plummeted to 18.8 Billion Naira by December of 2009.
Within 6 months in office, from the first quarter of 2010, Governor Oshiomhole has acquired N5billion from Sky Bank, another N5billion from United Bank of Africa (UBA), N2.2billion from Equatorial Trust Bank (ETB) and N2.9billion from First Bank of Nigeria. Though the state government already owes contractors over N10 Billion naira as at then, most of the contracts were hurriedly awarded to curry the support of the people. Many of the projects embarked upon despite the House of Assembly’s advice that there were no resources for bogus projects at the same time were abandoned. Contractors have left the sites in Edo South and Edo North because they were not paid.
The recommendations in the appraisal report also implicated Governor Oshiomhole as one who did not have regard to due process in the loan processes, a behaviour many governments also display because they are using the instruments of governments.
Most of the contracts were political moves to assuage the Edo South Bini speaking people ahead of the just concluded 2011 and 2012 gubernatorial elections. Apart from rumours of high extravagance by Comrade Oshiomhole, he is also believed to have perfected a system of awarding juicy contracts to his cronies especially through Commissioner Clement Agba.
Oshiomhole who runs a dictatorial administration, a departure from his avowed commitment to democracy during his time as NLC President shut ten opposition members out of the state House of Assembly, passing laws with only13 members of his Action Congress at the House.
He sacked local government chairmen at will and denied them of many of their allocations like the oil windfall share. Governor Oshiomhole who lives extravagant lifestyle with hordes of women always around him, frequently travels abroad giving room for possible drug habits.

My friend is coming for Christmas, By Victor Ehikhamenor

Victor Ehikhamenor

Another satiric piece from Victor Ehikhamenor on materialism in Nigeria.
It’s nice to hear you have finally gotten over the fear of visiting your homeland after fifteen years. Well, I must warn you that the things that made you decide to remain in the very safe haven of America, where guns are only used for deer hunting, not innocent school children, are still very much with us here.
Not to frighten you or anything, we still have the vile things that might put you on the edge, and make you go mannnn, mannnn, like a goat tied to a tree. Audacious kidnappers are still going after young and old, rich and poor. We still have brazen armed robbers with performance that will make James Bond movies look like a Nollywood overnight production. Oh I almost forgot, we still have Boko Haram, but don’t worry about those ones, they are faceless and phatomic. The beautiful and reassuring thing about all these is that our president is praying and fasting about them, so don’t worry.
Just a few advise though before you leave your cozy America that will make your stay in Nigeria pleasurable and memorable. I know you are a U.S. citizen and you are very proud of your new blue passport. Who wouldn’t after going through such a harrowing process in the hands of American immigration and naturalization for fourteen years; and having to marry that lazy American woman the size of a village hut with teeth the colour of Ibadan zinc roof? But when you are coming to Nigeria, kindly use your Nigerian green passport.
Tuck away the blue passport till you are ready to go back to your America. It will save you the grief in the hands of our own immigration officers at Murtala Mohamed Airport. Showing them American passport in MMA is like showing a lion a fresh goat meat dripping with blood. Also be aware that your American passport will impress nobody really, gone are those days. Now we have boys in Lagos and Abuja that go to New York just to drink Starbucks’ Caramel Frappuccino on Friday and return on Sunday. America is not what it used to be, Nigerians have unmasked the big masquerade and realize the man behind the mask is a next door neighbor.
I know you want to impress us with your American jeans, winter jackets and t-shirts. You need a drastic wardrobe change my friend. The weather is way too hot for your winter jackets. The jeans and t-shirts are tighter here, they’re European sophisticated style. Oh, and please lose the Jerry curls and one ear ring, that is so 1980s and it stinks of ignorance. Your XXL t-shirts that make you look like a Bata dancer wearing Agbada should be ditched. Go for a medium or small size. It doesn’t matter if you have potbelly, in Nigeria men flaunt their potbellies the same way girls flaunt their flat tommy and Coca-cola shape.
Nothing to be ashamed of, the tighter the t-shirt, making your stomach look like a new djembe drum, the better. And don’t even think of those jeans that have multiple pockets that make you look like you just stepped out of Ford Motors factory. If it is not True Religion or at least CK jeans (Not the ones from Marshalls or Burlington Coat Factory) forget about it. Yes, I know the price of one authentic True Religion jeans will buy you a piece of land at Ikorodu, but who cares!
Don’t bring that your cheap T-Mobile free phone you got by signing up for two years. Here guys have already pre-ordered Iphone 6, because Iphone 5 is so yesterday. In Lagos people are already using Ipad Mini as beer coaster. If your BlackBerry is not Porsche or the very latest, please go to another Galaxy for Christmas, don’t come near Nigeria.
Once you get your luggage out of MMA, stop doing currency conversion in your head. We already know that the cost of a 20 minutes MTN call equals your monthly fee for unlimited calls with AT&T. Save yourself the headache, if you don’t have enough money for this journey, just kuku stay back in your cheap America where you have to budget for everything.
Here even the federal government’s budget doesn’t work; they always go back to Senate for more. So be ready because the price of a stale cup of coffee is the same price that will fill the tank of a Hummer Jeep in America. And don’t tip anybody with fifty naira, be it driver, airport touts that will help you push your cart, or even the beggars along the streets.
Why we are still on the issue of money and spending, be prepared to peel naira notes as if you are dolling out coupon paper. In Nigeria, you will be made to pay for the air you breathe, the ground you step on and you will be fleeced just for being alive. And not just individuals, government and Telco companies in Nigeria are pickpockets. Take it as you see it, it is part of Christmas, the season of giving. I don’t really need to elaborate on these facts; you will see when you come.
And what kind of gift are you loading on your bag to impress our girls here? Knowing you, you might be thinking – “Yeah man, I am gonna catch her with this K-Mart Seiko watch and silver necklace. She is gonna know that I am an Americana man!” Booo! Even a certified ashawo along Ugbague Street in Benin will not take those cheap stuff from you. The girl you might fancy will certainly be wearing Brazilian hair that is more expensive than a town house in a Baltimore neighbourhood. No, she did not paint the sole of the shoes she will be wearing with her nail polish, those are 100% Christian Louboutin and she has more than six pairs. Google the price please.
When you get to Schiphol Airport and your mind is telling you to buy E&J Brandy to impress your guys in Lagos, resist the urge. My friend, even if Sgt. May, our village drunk were still alive, he would not touch that cheap poison. Please for goodness sake, go for a decent bottle of Hennessey VSOP or Blue Label for a start. In Lagos boys wash their hands with Moet and Rosé before they eat pounded yam. I know you are rolling your eyes, but it is for your dignity and sanity I am telling you all these. Once again remember we are an oil producing country and even though a fellow Nigerian who is your neighbour or your church member may not have a dime to buy Christmas rice, that doesn’t stop you from buying a third Range Rover or a private jet.
However, if all you have is just ticket money because I know what it means to work five shifts as License Practical Nurse in a dingy nursing home, please still come home. Your friends who were denied visa fifteen years ago when yours was granted have all hammered and some are in government. You will be given a chauffeur driven bullet-proof G-Wagon Mercedes, a French chef, and steady supply of the best things money can buy in life. If you think he is being nice to you, you may be right or wrong. He may also want to show off to you because he is a Nigerian and that is just how we roll man!
See you soon man!
PremiumTimes

Oando Commences Rights Issue, Targets N54.6 billion

Wale Tinubu, Chairman, Oando Energy Resources

Oando Plc has commenced its rights trading exercise which is geared to raise N54.6 billion in order to fund the company’s expansion into a much larger upstream petroleum company.
The company is offering shareholders 2 ordinary shares for every one ordinary share held at close of business on October 19th.
The rights issue will take place on the Nigerian Stock Exchange and the Johannesburg Stock Exchange as the company is listed in both countries.
The issue opened on the floor of the NSE last Friday and will commence in Johannesburg on January 4th. The offer will close on February 6th, 2013.
Group Chief Executive, Oando PLC, Mr. Wale Tinubu, said, “We are happy to announce the opening of our Rights Issue offering, in line with our corporate strategy for balance sheet optimization and the financing of growth initiatives in the Upstream sector.
“Pursuant to the recent signing of agreements by our affiliate OER with ConocoPhillips, to acquire their entire Nigerian Asset base for $1.79 Billion plus customary adjustments, OER will be transformed from a small size oil company with ~4,500 bbls/day of production and 9 million barrels of oil equivalent (“MMboe”) to a midsize oil producer with close to 50,000bbls/day of production with 2P reserves of 213 MMboe and 2C reserves of 198 MMboe, with significant risked resources”.
“The successful outcome of the Rights Issue will position Oando to increase value for shareholders in the Upstream through focused portfolio growth in production, cash margins and improved returns on capital deployed. We count on the consistent support of our shareholders to seize the opportunity to take up their rights and benefit from the higher margin value creation the Upstream offers.”
 BusinessNews

Failure To Pass SEC Budget May Lead To Renewed Capital Market Crisis – LCCI

The Lagos Chamber of Commerce and Industry (LCCI) has raised alarm over the failure of the National Assembly to pass the budget of the Securities and Exchange Commission (SEC) for 2013.
The body voiced its concerns in a statement released to the media on Monday.
The National Assembly refused to make any provision for the capital markets regulatory body due to an earlier decision not to interact with its Director General, Ms. Arunma Oteh. The lawmakers called on the President to terminate her appointment last year, however the president has yet to do so.
In the statement, Director-General, LCCI, Mr. Muda Yusuf, voiced serious concerns over the stalemate.
He said, “We are concerned about the zero allocation to SEC, which is a strategic regulatory institution in the Nigerian financial system. We urge the National Assembly to review its position in the interest of the stability of the capital market, the nation’s financial system and the larger economy.

“The current stance of the National Assembly has a number of unintended consequences; some of which include the perception and reputational risk for the stability and credibility of the Nigerian capital market.”

The statement warned that the failure to pass the budger could reverse the recent gains recorded by the capital market.

“It could send wrong signals about the nation’s democratic process, especially the preservation of the tenets and values of separation of powers. So, we urge the National Assembly (in this particular instance) to look beyond the person of Oteh, and give consideration to the wider implications of its decision for the economy.”

BusinessNews

Stock Market Rises To 32 Month High In 2012, Momentum Expected To Continue

The Nigerian Stock Exchange rose to a 32 month high in 2012, and the positive performance is expected to continue in 2013.
The All Share Index returned to performance levels not seen since 2007. The performance in the bourse was led by growth in the banking and consumer goods sector.
Analysts across the board expect the positive trend to continue.
“With continued interest in financials and consumer goods, we expect the market to extend gains into the New Year,” analysts at Vetiva Capital, said in a note, adding that banks will lead the charge in 2013.
According to the MD of Lambeth Trust and investment, David Adonri, “It is one of the best performing markets in the world. Recovery of the Secondary Market for equities has however not translated yet to reactivation of the Primary Market. While the Primary Market for bonds has been very active, the world class Secondary Market bonds platform of The NSE remains dormant.”
The Nigerian Naira also appreciated 1.8% against the Dollar in 2012.
BusinessNews

Investigation: Vice President Sambo Chose Deputy Governor Few Hours After Yakowa Died In Plane Crash

Vice President Namadi Sambo is the man that chose Ambassador Nuhu Audu Bajoga as the Deputy Governor of Kaduna State few hours after it was confirmed that Governor Patrick Yakowa died in the plane crash that occurred in Bayelsa State on 15th December, 2012.
The confirmation gotten from a credible source in Aso Rock, the seat of Nigerian Presidency in Abuja clearly proved that the choice of Ambassador Bajoga is not choice of new Kaduna State Governor, Mukhtar Ramalan Yero, but that of the Vice President.
The source who confirmed the story added that even President Goodluck Jonathan was fully briefed of the development and got a real picture of how his Vice President is juggling the turbulent politics of Kaduna State to match his own unpublicized presidential ambition.
Investigations carried out by SaharaReporters also revealed that Sambo is unilaterally running the affairs of the state from Abuja and has been shuttling to Kaduna mobilizing support for his godson governor. He was in Kaduna on Monday where he met with all traditional rulers and elected public officials in which he pleaded for support to the new governor and distributed largesse to all attendees of his Kaduna meetings.
The source said, “The choice of who will be the next deputy governor of Kaduna State was taken here in Abuja, just few hours after it was confirmed that Governor Yakowa was dead. The Vice President took that position and quickly chose Bajoga who was in Kaduna.  Bajoga was told as well as all the key players in the Vice President’s camp. We were here in Abuja when the news of the crash occurred, and the President was greatly troubled because of his good relationship with Governor Yakowa of Kaduna State. And only later on, the President got wind of Sambo’s decision.
“The whole was done here; they called the man from here and told him their demands. While all the noise of the battling for deputy governor was going on in Kaduna, the search has already been concluded and that is why the President refused to dabble into the matter, knowing that Sambo has chosen deputy governor few hours after the crash.”
The source further said that, Sambo’s action to remove Bajoga, who was at the time chairman of Peoples Democratic Party (PDP) in the state was Sambo's way to fix his own crony as chairman of the party.
Sambo, according to other sources in Kaduna and Zaria has a crack team of his pundits who are presently working with the governor on how to manage Kaduna's tense politics of religion and ethnicity.
The source concluded that close associates of President Jonathan are watching Kaduna politics with keen interests and have been meeting with a consistent group of Southern Kaduna youth that has been opposing the choice of Bajoga which they perceived as Sambo’s bidding.

 Naij

American friends mocked me over London 2012 shame - Modupe Oshikoya

 by  Ganiyu Salman

OLYMPIAN Modupe Oshikoya has said that the debacle of Team Nigeria at the London 2012 Olympics gave her a lot of sleepless nights, just as she recalls the ordeal she went through having to react to various queries raised by her American friends.

Oshikoya, who won five gold medals at the 1973 and 1978 All Africa Games, stated this in a chat with Tribunesport.

“What happened at the last Olympics was a disaster, it was depressing and I felt terribly disappointed by our performance. Everybody around me in my base  (California) started asking me what happened to Nigeria and all that? it was really discouraging.

“I hope that with the step already taken by Mr President (Goodluck Jonathan), we should have a better future in sport in this country. The sport retreat I understand has been held but we have to start implementing what we have now so as bring the athletes together in a conducive atmosphere now instead of waiting till the last minute.

“We have to stop fire brigade approach. They have to be given the training they need to be able to compete with other world-class athletes,” said the 58-year old former queen of the track and field.

She stressed the need for proper encouragement of athletes in the country in a bid to get the desired results.

“We have to encourage our athletes, many of them are right there yearning for the authorities to assist them realise their dreams. For me, the government has tried for me, I was offered scholarships to study abroad and all that and so, I appreciate what the government has done for me. I think I’m blessed, I did sports because I loved doing it.

“During our time, the kind of encouragement even from the government alone is incomparable to what obtains now. Everything was well organised then and each athlete was always encouraged to put in her best. Again, there were so many competitions for us at the school level such as inter-school competitions, Ghana/Nigeria, Togo/Nigeria Games and so on.

“Our athletes are suffering and they need support. we can even hold a fund raising in aid of these young talents so that they can get the desired training that would give  them big hope in their careers. We have to encourage them to read by giving  them scholarship,” the 1974 Commonwealth Games medallist remarked.
NigerianTribune