Omokri: Better days ahead with Tinubu’s reforms – Newstrends
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Omokri: Better days ahead with Tinubu’s reforms

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Reno Omokri

Omokri: Better days ahead with Tinubu’s reforms

President Bola Ahmed Tinubu economic reform points to better days ahead, a former presidential aide, Mr Reno Omokri, has said.

 “We should celebrate our recent 3.46% GDP growth, phenomenal 4.3% unemployment rate, record-breaking N5.8 trillion third-quarter trade surplus, revamping of the Port Harcourt refinery, and steady appreciation of the Naira,” he said in a statement yesterday.

Omokri said that despite the short-term pains of the reforms, there was ample evidence that the economy was on a growth trajectory that would assure a better future for Nigerians.

He said the reforms, which cancelled wasteful subsidies on petrol and forex, had freed up more money for the government at national and subnational levels to address the people’s urgent needs, including infrastructure, health, and education.

According to him, Tinubu’s skillful management of the economy led to debt reduction and a quantum improvement in the nation’s foreign reserves, which now stand at over $40 billion.

He urged those still brooding over the outcome of the 2023 presidential election, which produced President Tinubu, to come to terms with the reality of his presidency and cooperate with him to take the nation out of its economic crises.

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Commenting on the weekend fall of Syria’s President Bashir Assad despite Russia’s staunch support, he said the incident should teach Nigerians, who waved the Russian flag during the August cost of living protest, that foreign interventionists would always prioritise their national interest.

“When push came to shove, the Russian government took the most prudent action for their safety. They focused on their war with Ukraine and prioritised it over propping up the Assad regime,” he said, adding, “Moral of the story: Self-interest will always prevail over the interests of your allies.”

Omokri added: “Nigerians should learn from the recent experience and the happenings in our neighbours and accept that regardless of feelings about the outcome of the #NigerianElections2023, democracy is still the best form of government for a multiethnic and religiously heterogeneous nation like Nigeria. At the same time, free-market policies suit our economy.”

Urging them always to seek the deepening of democracy, he pointed at the ongoing chaos in Burkina Faso, where its military dictator fired yet another government amidst soaring inflation and insecurity.

He also cited neighbouring Niger, where the situation had become so difficult that organised crime gangs were controlling parts of the country.

He noted that while West African countries under the Jackboot were experiencing hardships, those under democratic rule, including Ghana, Cote d’Ivoire, Sierra Leone, and Liberia, were stable and enjoying economic prosperity.

“The other democracies of West Africa are doing much better than those that came under military rule,” Omokri stated.

 

Omokri: Better days ahead with Tinubu’s reforms

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Electricity: We installed 184,507 meters, issued 50 licences in Q3, says FG

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prepaid meters

Electricity: We installed 184,507 meters, issued 50 licences in Q3, says FG

The Federal Government has recorded significant progress in Nigeria’s electricity sector with the installation of 184,507 new meters and the issuance of 50 licences, permits, and certifications during the third quarter of 2024 (Q3).

The Nigerian Electricity Regulatory Commission (NERC) revealed in its Q3 2024 report released on Friday that 184,507 meters were installed, marking a remarkable 256.01% increase compared to the 51,826 meters installed in Q2 2024.

The increased metering pushed the net end-user metering rate in the Nigerian Electricity Supply Industry (NESI) to 46.15%, up from 45.43% in Q2, a rise of 0.72 percentage points.

The installations were largely carried out under the Meter Asset Provider (MAP) framework, which accounted for 178,715 meters or 96.86% of the total. The Vendor Financed framework contributed 3,508 meters, while the DisCo Financed framework added 2,298 meters.

This development signifies a concerted effort to address challenges like estimated billing and promote consumer satisfaction across the electricity distribution value chain.

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Power sector development: 50 licences issued 

To complement the surge in meter installations, NERC issued 50 licences, permits, and certifications aimed at strengthening Nigeria’s power sector infrastructure. These include:

  • Six (6) new off-grid generation licences with a combined capacity of 30.06 MW.
  • One (1) renewal of an on-grid generation licence with a gross capacity of 39 MW.
  • Two (2) new electricity trading licences.
  • Eleven (11) captive generation permits with a total gross capacity of 63.36 MW.
  • One (1) registration certificate for a mini-grid.
  • Seven (7) certifications for Meter Service Providers.
  • Twenty-two (22) permits for Meter Asset Providers.

These licences are expected to encourage investments, improve power supply, and expand access to renewable and off-grid energy solutions, especially in rural areas.

Key Implications for the Power Sector

The surge in meter installations and issuance of licences marks a pivotal moment in Nigeria’s electricity sector. By prioritizing metering through initiatives like MAP, the government is tackling the pervasive problem of estimated billing, which has long plagued electricity consumers.

Furthermore, the rise in off-grid and mini-grid licences underscores a growing shift towards renewable energy and decentralized power solutions, vital for enhancing energy access in underserved regions.

A Promising Outlook: These advancements highlight the Federal Government’s commitment to reforming Nigeria’s power sector and creating an enabling environment for both consumers and investors.

With metering and licensing activities gaining momentum, stakeholders anticipate further progress in Q4 2024, laying the foundation for a more reliable, sustainable, and inclusive energy sector.

 

Electricity: We installed 184,507 meters, issued 50 licences in Q3, says FG

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Ibadan stampede: Ooni reacts after arrest of ex-wife

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Ooni of Ife, Oba Adeyeye Ogunwusi his ex-wife, Naomi Ogunseyi

Ibadan stampede: Ooni reacts after arrest of ex-wife

The Ooni of Ife, Oba Adeyeye Ogunwusi, has encouraged his ex-wife, Naomi Ogunseyi, and radio owner, Oriyomi Hamzat, not to be discouraged following the tragic stampede at a Yuletide ceremony for children in Ibadan, Oyo State, which claimed 32 lives.

The monarch also pledged support for the families of the victims and called for immediate measures to prevent such incidents in the future.

His comments followed the arrest of his ex-wife by the police and were made in a statement issued by the Director of Media and Public Affairs at the Ooni’s Palace, Moses Olafare.

In his statement, the Ooni expressed his deep sorrow, saying, “We extend our heartfelt sympathy to the government of Oyo State, the organisers—Agidigbo Radio, owned by Oriyomi Hamzat, and former queen at the Ooni’s Palace, Ms Naomi Silekunola Ogunseyi, as well as the bereaved families of the young souls lost in the tragic incident in Ibadan yesterday.”

He also expressed solidarity with the Oyo State government and commended the governor for his swift response.

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“This tragedy underscores the urgent need for collaborative efforts to ensure the safety and well-being of our children across Nigeria. The House of Oduduwa pledges to support all efforts aimed at bringing solace and healing to those affected by this devastating loss,” he added.

The Ooni called for immediate action to improve safety measures, stressing the importance of adherence to safety standards and child welfare policies in educational institutions. He advised Naomi Ogunseyi, Oriyomi Hamzat, and other co-organisers not to be discouraged by the unfortunate outcome of the event, which was originally intended to bring joy to children during the festive season.

He concluded, “Rather than being discouraged, they should remain committed to organising such laudable programmes for children, but with better planning and strategies in the future. The lesson must be learned.”

Ibadan stampede: Ooni reacts after arrest of ex-wife

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Farotimi: Advocacy group wants UK college to break ties with Afe Babalola

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Dele Farotimi and Aare Afe Babalola

Farotimi: Advocacy group wants UK college to break ties with Afe Babalola

A growing wave of international pressure is urging King’s College London to sever its ties with prominent Nigerian lawyer and philanthropist Afe Babalola following the controversial arrest of rights lawyer Dele Farotimi.

Babalola, who is a major donor to the prestigious UK institution, has been accused of using his influence to have Farotimi arrested for alleged defamation.

In a petition dated December 17, 2024, the advocacy group Mothers United and Mobilised (MUM), representing a collective of Nigerian women and mothers, called on King’s College London to distance itself from Babalola and his actions.

The petition, signed by MUM convener Boluwaji Onabolu, urged the institution to release a statement condemning the alleged suppression of dissent and to return the €10 million donation made by Babalola in 2023.

Farotimi was detained by police officers from Ekiti State, Babalola’s home state, following critical remarks about the 95-year-old lawyer in his book.

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The book criticized Babalola for allegedly winning cases with financial leverage rather than legal skill, a claim that reportedly triggered the arrest.

Farotimi was detained for more than two weeks, despite being granted bail under stringent and punitive conditions.

The group contends that the situation in Ekiti, where Babalola holds considerable influence, presents little hope for a fair trial for Farotimi.

“The defamation charge, a civil matter, should have been addressed through legal proceedings in Lagos, but instead, it was escalated to an arrest orchestrated by Chief Babalola using his home state’s police,” the petition read.

The group stressed that King’s College London, a globally recognized institution, should not be associated with actions that undermine freedom of speech and legal fairness.

The group urged the UK institution to publicly support Farotimi’s right to a fair trial and demand his release from detention.

“King’s College London must stand on the right side of history. We urge the institution to break its silence and align itself with the fight for justice, human rights, and the protection of free expression, which are fundamental to the values it represents,” the group said.

 

Farotimi: Advocacy group wants UK college to break ties with Afe Babalola

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