No hiding place for oil thieves, says Tompolo – Newstrends
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No hiding place for oil thieves, says Tompolo

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2 years ago

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Presidential spokesperson, Malam Garba Shehu

Ex-Niger Delta warlord and Commander of the defunct MEND, Ekpemupolo, popularly known as Tompolo, has said that the Federal Government knows those behind oil theft.

In a video, which emerged from Thursday meeting with community chairmen and Niger Delta youths, Tompolo, who was addressing the gathering against the backdrop of a new pipelines surveillance deal reportedly worth about N4 billion monthly and N48 billion yearly, however, noted that there will be no hiding place for oil thieves.
When President Muhammadu Buhari took over in 2015, he insisted that it was a shame that regional warlords were the ones protecting the assets when Nigeria has a capable military.

He had gone after Tompolo who was then handling a surveillance contract under Goodluck Jonathan’s administration.
The former warlord went underground for years, until his recent re-emergence.
However, the federal government appears to have realised the futility of deploying only government security forces to carry out surveillance activities on the pipelines, with the recent N4 billion monthly deal with the former warlord.

During the meeting, Tompolo, who spoke to the gathering on the negative implications of destroying the environment, explained that while he would consult with camp leaders, he won’t beg anyone to stop the sabotage.

“All of us had carried arms before; so, nobody can threaten anyone with guns. But what I want to assure you is that there will be no escape route for anybody,” the ex-militant who spoke in pidgin, warned.
Tompolo told his guests during the meeting which took place in Okerenkoko, Delta State, that he invited the community leaders because oil theft and bunkering had become a matter of concern to everybody.

“The reason I invited you here is on how to halt illegal bunkering. I am from Okerenkoko, the same way each of these community leaders is from a community. What we want to tell our mothers, fathers and all community leaders is that from today, after today’s meeting, we will work out the form that the operation will take. No more illegal bunkering.
“After now, we will give you the addresses of where you will be deployed so that you will be employed. The employment will be for men and women in the ratio of 60-40.

“I won’t pretend; this is what we all survive on – even God knows. If the right thing was done, we wouldn’t have reached this level. As I speak, I cannot in all honesty tell you that I don’t know the people behind this.
“God knows who’s behind it (oil theft), the government knows who’s behind it, but we just want to appeal, because the buyers and the sellers are deeply involved,” he stated.

He maintained that money will be paid directly to employees and not through contractors, insisting that in the new dispensation, nobody will be short-changed.
“Anybody employed by this community, the money will go straight to them. We won’t give any job to contractors where you will ask that someone should be paid N20,000 and they will be given just N10,000,” he added.

Tompolo said it was not a case of Ijaw or Itsekiri or even Urhobo, stressing that everyone must come together to stop the menace.
In a related development, the Minority Caucus in the House has called for the probe of the $40 million daily oil theft in the country, saying crude theft has become an organised racket under the APC administration.

The caucus in a statement by its leader Hon. Ndudi Elumelu lamented that 400,000 barrels of crude oil worth $40 million are allegedly being stolen daily.
While calling on President Muhammadu Buhari to take urgent steps to address the challenges facing the country, the caucus called for an immediate, independent and open investigation into the issue of oil theft in the country.

The statement read in part, “We are disturbed by reports of alleged complicity by certain corrupt government officials as evinced in the clandestine entrance and berthing of a 3-million-barrel capacity supertanker, MV. Heroic Idun in Nigerian waters to criminally load millions of barrels of stolen crude oil from our country. Such reported complicity is also evidenced in the failure of the Nigerian authorities to effectively intercept and arrest the criminal tanker and its crew, which successfully left the Nigerian waters only to be apprehended by the Equatorial Guinea Navy.

“This shocking development underscores the massive sleaze in our nation’s oil and gas sector under the APC administration, with consequential crippling effect on our overall national economy and social wellbeing. It is indeed disturbing that under the APC administration, according to official reports, oil thieves are having a field day stealing up to 400,000 barrels of crude oil every day. This amounts to a daily siphoning of about $40m (given the current average global oil price of around $100 a barrel) accrued revenue meant for the well-being of Nigerians.

“The Minority Caucus, standing with Nigerians, demands an immediate, independent and open investigation into the issue of oil theft in the country with particular reference to the circumstances that facilitated the reported illegal operation by MV Heroic Idun as well as its escape from our waters. Who granted the vessel entrance into the Nigerian waters? Who granted it facilities to illegally berth and pump stolen crude oil? What circumstances facilitated its escape from the Nigerian waters? Who is the vessel working for and who are those behind the illegal operation?” the Caucus queried.

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Your assessment misleading, APC tackles Obi over socio-economic situations

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17 hours ago

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January 3, 2025

By

Peter Obi and Felix Morka

Your assessment misleading, APC tackles Obi over socio-economic situations

One-time Anambra State Governor Peter Obi came under a scathing criticism yesterday from the ruling All Progressives Congress (APC) over his assessment of the security and economic situation of the country.

At a news conference, Obi disagreed with the claims of President Bola Ahmed Tinubu in his New Year Day address which chronicled the feats attained by the APC-led administration.

Obi alleged that the political, economic and security situations in the country have worsened under the incumbent administration.

But the APC, through its National Publicity Secretary, Felix Morka carpeted Obi, describing his assessment as jaundiced, misleading and an attempt to score cheap political points.

In a statement, Morka put a lie to Obi’s claims.

He noted that Obi’s assessment was at variance with all indicators that showed that the nation’s economy is rebounding in significant measure across all sectors.

Dismissing Obi’s claims, Morka said: “While Nigerians celebrated the New Year with hope for a more glorious 2025, Peter Obi, former Governor of Anambra State and former presidential candidate of the Labour Party (LP) in the 2023 general elections, was seemingly stuck in replay of his jangling, gloom-ridden wish-list for our country.

“Obi’s new year message, in which he claimed that the political, economic and security situation of our dear country is worsening daily, is misleading and appears intended to score cheap political points.

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“This claim, at a time when all indicators show that our country is rebounding in significant measure across all sectors, casts Obi, squarely, as Nigeria’s leading doomsayer.”

Morka, who reeled out the achievements of the APC-led administration, said: “In reality, 18 months later, the economy under President Bola Ahmed Tinubu’s administration, has showed steady record of progress.”

He listed the landmarks as:

The ruling party further argued: “Despite these and other initial beneficial outcomes of ongoing unprecedented reforms, the administration is doubling its effort to ensuring that the reforms deliver their fullest benefits for the sustainable growth and transformation of our country.”

The ruling party said that the Presidential New Year message acknowledged that the “cost of food and essential drugs remained a significant concern for many Nigerian households. And to reverse this trend, Mr. President assured that his administration was committed to lowering food prices by boosting food production and promoting local production of drugs.”

The party also highlighted Tinubu’s resolve to crash the current inflation rate from 34 per cent to 15 per cent in the course of this fiscal year as a move to addressing the threat inflation poses to the country’s economy.

The statement further reads: “With the vigour in the administration’s war on corruption, evidenced by ongoing investigations and trial of  well-heeled Nigerians, Obi’s pontification on the urgent need to tame corruption is a clear case  of carrying coal to Newcastle.”

Faulting Obi, the party said: “It is a thing of irony that Peter Obi, who now arrogates to himself to be omniscient and philosopher’s stone, when it comes to our nation’s challenges, left no record of significant achievement, let alone transformation of any kind, in his eight-year tenure as Governor of Anambra State.

“Like his co-travellers in the Peoples Democratic Party (PDP), Obi’s obsessive pessimism and endless but futile effort to incite public outrage against the administration is borne out of their realisation that President Tinubu is unwittingly cementing their ultimate political irrelevance by his visionary and full-throttle reform and transformation of the fundamental pillars of our national life.”

Appealing for citizens’ support and patience, the APC spokesman assured Nigerians that “under the banner of the Renewed Hope Agenda (RHA), President Tinubu is dutifully turning our nation’s fortunes around.

“He (Tinubu) deserves the support  and patience of Nigerians in order to consolidate on the deep economic foundation he has laid, and deliver a vibrant, prosperous new Nigeria for the good of all.  We urge Nigerians to remain confident of better days ahead.”

Your assessment misleading, APC tackles Obi over socio-economic situations

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Currency in circulation now N4.8tn – CBN report

Published

4 days ago

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December 31, 2024

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Currency in circulation now N4.8tn – CBN report

Currency in circulation has reached an all-time high of N4.8 trillion as of November 2024, recording over seven per cent increase from the previous month.

Also, currency outside banks grew significantly in the same month hitting an all-time high of N4.6 trillion from the N4.2 trillion in the month of October.

These figures were contained in the money and credit supply data from the Central Bank of Nigeria (CBN).

The currency in circulation is the amount of cash–in the form of paper notes or coins–within a country that is physically used to conduct transactions between consumers and businesses.

It represents the money that has been issued by the country’s monetary authority, minus cash that has been removed from the system.

Similarly, currency outside a bank refers to cash held by individuals, businesses and other entities that is not stored in banks.

The currency outside the bank represents about 96 per cent of the currency in circulation.

Nigerians have in recent times been facing acute cash shortage with banks limiting daily withdrawal at Automated Teller Machines (ATMs) to N20,000 irrespective of the number of accounts held by an account owner.

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According to the latest data, the currency in circulation grew by seven per cent to reach 4,878,125.22 from 4,549,217.51 in October.

Currency in circulation has grown steadily in the outgoing year 2024 with over one trillion naira added to cash in circulation after starting the year with N3.65 trillion in January.

In February, the currency in circulation slightly increased to N3.69 trillion representing an increase of N43 billion or 1.18 per cent from the January figure.

March also saw an appreciable increase to N3.87 trillion while it further increased to N3.92 trillion in the following month of April.

The growth trajectory continued in May with the currency in circulation increasing slightly to N3.97 trillion, an increase of N42 billion or 1.07 per cent while it reached an all-time high of 4.04 trillion, an increase of 2.11 per cent from May.

The July figure also rose marginally with the currency in circulation settling for N4.05 trillion before growing to N4.14 trillion in August and N4.43 trillion in September and N4.5 trillion in October.

In the same vein, currency outside banks grew from N4.2 trillion in October to N4.6 trillion in November, showing increasing preference for other means of storing outside bank deposits.

Economist, Dr. Paul Alaje attributed the development to the expanding money supply, adding, “Money supply is expanding but this may not necessarily be in cash. As it is expanding, it will necessarily induce inflation. But you can’t blame the people. People must look for money. How much was bottled water last year, how much is it today? All of this will induce inflation. If you now ask, what is the cause of inflation? Is it money supply itself or a devaluation policy? It is a devaluation policy. Money supply is an offshoot. So the Central Bank is raising interest rates to actually reduce money supply but the more they try the more money supply expands.”

He stated that the floatation policy of the CBN has created inflation, adding, “It is like chasing one’s tail and I don’t know if you are going to catch it.”

Currency in circulation now N4.8tn – CBN report

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Tinubu not telling Nigerians the truth, says Sule Lamido

Published

6 days ago

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December 29, 2024

By

President Bola Ahmed Tinubu

Tinubu not telling Nigerians the truth, says Sule Lamido

President Bola Tinubu has been accused of not being forthright about the true state of Nigeria under his administration.

Former Jigawa State Governor and senior Peoples Democratic Party (PDP) member, Sule Lamido, made the accusation while speaking on the BBC Hausa programme Gane Mini Hanya.

Lamido criticized both Tinubu and former President Muhammadu Buhari for what he described as a lack of transparency in governance.

“Buhari’s and Tinubu’s governments are not being transparent with Nigerians unlike during the time when PDP was in power where everything was transparent and open to all Nigerians,” Lamido said.

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He accused the two administrations of relying on propaganda rather than providing citizens with accurate information.

Lamido also expressed concerns over President Tinubu’s recent loan requests, questioning the logic behind them. “If Nigerians are being told the truth then there is nothing wrong with that, but how would you budget N30tn, generate N50tn and then request loan when you have a surplus of N20tn,” he said, referencing last year’s budget.

He described the situation as “reckless” and “selfish,” adding, “This recklessness and clear-cut selfishness is not done anywhere in the world, but yet you find (some) Nigerians supporting it. Visit social media and see how APC is being criticised, being referred to as calamity, yet you find some protecting it.”

Tinubu not telling Nigerians the truth, says Sule Lamido

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