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N250bn Bond: Amaechi Promises Investors

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By Burningpot Sources

Governor Rotimi Amaechi of Rivers State Monday assured prospective investors in the state’s N250 billion bond of quick returns on their investment.

 

Amaechi gave the assurance  when a team of Standard and Poors-an international public finance rating body led by its Director International/Sovereign Public Finance, Mr. Lorenzo Pareja, paid him a courtesy visit in Government House, Port Harcourt.

 

He said the state had worked out modalities for paying back the loan, stressing that; “We assure all those who would invest in the bond that they would get back their money with good returns in good time.”

 

The Governor, who reiterated the rationale behind going for the bond averred that the bond is aimed at assisting government fund ongoing projects such as the new M-10 Highway, the Greater Port Harcourt City, the Monorail, the New Mega Hospital, the new Rivers State University of Science and Technology complex and several other landmark developmental projects.

“What I’ve told them is and we must pay back within our tenure. Our target is to be able to fund capital expenditure. If we wait for Federal Government revenue, we may not be able to complete our projects on time. In the next four years, our projected revenue is estimated to be between N900 billion and N1 trillion,” he said.

 

He also disclosed that the internally generated revenue (IGR) of the state had risen from N4.5 billion to N5 billion, which makes the state viable to repay its debts without stress.

 

Earlier in his remarks, Pareja had told Amaechi that the team was in the state to carry out its yearly monitoring and assessment of the state credit ability.

 

“We hope that this very remarkable investment plan will have a lasting impact on the State and its internally generated revenue. This is quite historic because it’s the first time Rivers State is doing it. N250 billion capital expenditure is a substantial investment. We hope that this very remarkable investment plan will have a lasting impact on the State and its internally generated revenue,” Pareja said.

 

So far, he said the state has shown remarkable improvements in the management of its resources and governance in general.

 

Pareja said considering the current economic boom the state was witnessing, the state government could still go ahead to issue the bond, noting that “it was in line with the Rivers State capital expenditure.”

C. Thisday

N250bn Bond: Amaechi Promises Investors

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By Burningpot Sources

Governor Rotimi Amaechi of Rivers State Monday assured prospective investors in the state’s N250 billion bond of quick returns on their investment.

 

Amaechi gave the assurance  when a team of Standard and Poors-an international public finance rating body led by its Director International/Sovereign Public Finance, Mr. Lorenzo Pareja, paid him a courtesy visit in Government House, Port Harcourt.

 

He said the state had worked out modalities for paying back the loan, stressing that; “We assure all those who would invest in the bond that they would get back their money with good returns in good time.”

 

The Governor, who reiterated the rationale behind going for the bond averred that the bond is aimed at assisting government fund ongoing projects such as the new M-10 Highway, the Greater Port Harcourt City, the Monorail, the New Mega Hospital, the new Rivers State University of Science and Technology complex and several other landmark developmental projects.

“What I’ve told them is and we must pay back within our tenure. Our target is to be able to fund capital expenditure. If we wait for Federal Government revenue, we may not be able to complete our projects on time. In the next four years, our projected revenue is estimated to be between N900 billion and N1 trillion,” he said.

 

He also disclosed that the internally generated revenue (IGR) of the state had risen from N4.5 billion to N5 billion, which makes the state viable to repay its debts without stress.

 

Earlier in his remarks, Pareja had told Amaechi that the team was in the state to carry out its yearly monitoring and assessment of the state credit ability.

 

“We hope that this very remarkable investment plan will have a lasting impact on the State and its internally generated revenue. This is quite historic because it’s the first time Rivers State is doing it. N250 billion capital expenditure is a substantial investment. We hope that this very remarkable investment plan will have a lasting impact on the State and its internally generated revenue,” Pareja said.

 

So far, he said the state has shown remarkable improvements in the management of its resources and governance in general.

 

Pareja said considering the current economic boom the state was witnessing, the state government could still go ahead to issue the bond, noting that “it was in line with the Rivers State capital expenditure.”

C. Thisday

Tin-Gods And The People’s Will

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By Itseghosimhe Ayaosi, Warri, Delta State

Belief shapes man. His belief in God; God the supernatural or god as an idol is influenced by the extent of safety and providence it accord him. The same ideological belief applies to leadership. The society for instance, will be more devoted and loyal to institutions that guarantee her absolute freedom and dignity above all that do not.

Freedom has no alternative. It takes sacrifices of different dimensions to restore liberty. To very many who embraced change and paid the sacred sacrifice that eroded God ten (10) blessed years PDP plagued our dear Edo state to slavery will always run unhindered river in their eyes if things are going abnormal in the state. It takes great men sacrifices of various dimensions to restore liberty.

 

No doubt, the Action Congress of Nigeria (ACN) led government of Comrade Adams Aliyu Oshiomhole has considerably improved on the infrastructural standard of the state. Comrade Oshiomhole, aware of the enthusiasm of the people and the relevance of the freedom to vote and be voted for in an election, adopted the legendary “one man, one vote” to restore liberty and won the soul of the state. How much this hard fought legacy of freedom can be sustained in the state is in the hands of the authority of the state.

Prof. Chinua Achiebe in Things Fall Apart tells us that “proverbs are the palm oil with which words are eaten”. Not all proverbs are spoken. Some are acted out by way of body movement or in events. One such non-verbal proverb is in powerful lyrics that bemoaned the embarrassing moments that engulf the ACN congresses in the state and the aftermath maverick primaries by Governor-saytics leaders which eventually caused the party’s masterstroke at Edo Central in the just concluded general elections. Thanks to the royal fathers and some notable personalities in the south and northern districts of the state, the tsunami would have been more embarrassing. It may not be so all times.

 

The political disorder is a gratuitous embarrassment and humiliation to the state and to the nation. The ‘heartbeat’ State which became synonymous with the “one man, one vote” philosophy is fast becoming a theatre of destabilization and political gamesmanship. The earlier the state stands to say no, the better for the future of all of us. This is not a 100m race; it is a long distance one. Gone are the days of 15 minutes of favour. You can fool some of the people but you cannot fool everyone.

 

An idea conceived in deceit will ultimately end in deceit. Perhaps, few who believe Comrade Adams so well may drum some hope that his revered name was only used by some of his desperate aides and surrogates (fifth columnists) to embarrass and drag him to the mud. They care not of the implication. Comrade Adams can still straighten the records as the most revolutionary of all. The blatant abuse of privilege by these overfed politicians must not go unchecked; hence their wings should be clipped before the next round of election in the state.

 

I am aware these Governor-saytics in their myopic minds are at work again; preparing list of which to impose councilors and chairmen of councils on the basis of ‘cash and carry’, undermining the majority voice of democracy and the fall back affects it may have in strengthening the opposition parties in the state. It portrays danger especially at this period that the governorship election is by the gate.

 

Will the state electorate vote with their eyes closed for imposed candidates? I vehemently doubt it! Maybe they will again pedal back to rob the people of their votes. But if so, will the electorate just whine, moan and go home to mourn their fate? I am not sure the good people of Edo state need the spot-on permutations and accuracy of the legendary Paul the Octopus to alert us on the danger ahead in 2012 should be Governor-saytics leaders continue to overheat the polity. Just in case they do not know, democracy is a concept that is beyond one man no matter how mighty.  No one is an Avatar and the Comrade Governor cannot claim to be one. It is a game of majority, nay, of numbers that has been retrained to the nation’s elections by Prof Attairu Jega, Ideas rule the world; not air, not brigandage, not even gamesmanship.

 

The lovers of justice and democracy are ready to spoil against imposition. They will have the courage and the indomitable spirits to stand by the popular will of the masses again. They will develop the capacity for unwavering commitment to the lofty ideals of the rule of law in the face of all odds. No matter the provocation, resilience and absolute faith in democracy through the guiding hand of Almighty God is sacrosanct to defend the will of the people.

 

Above all, the Comarde Oshiomhole led ACN government must not allow itself to be carried away or to be made to lose focus with the euphoria of victory in the state. Of course, the biggest party in the world, the NATO party in Germany, still adheres to the ground rules of internal party democracy and the will of the people. We must master the ways and manner of managing success so that it will not slip away from our hands. A burning lesson from the above development is that Edo State ACN must be above board and espouse the lofty principle of internal party democracy, rule of law, transparency and fair play, profound respect for the popular will, discipline and unity in the coming party primaries and other subsequent elections.

 

Not that I care to pretend about the impending disaster that the ACN will suffer at the pools in the face of imposition. I welcome it if it would humble the party leadership and the Comrade Governor to see themselves as the architects of their own political misfortunes. Edo state needs a very bold move in the direction of transformational politics that respects the citizens and empower them beyond a mere slogan of ‘let the people lead’ which only mocks the myth of the power of the people.

 

Agenda For Gov. Oshiomhole

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By Abdulkareem Musah, Kaduna

Permit me a space in your widely read newspaper to make my views to deepen our democracy.

 

I am not just writing because I have a penchant to do so. I am writing because of my belief in party internal democracy and eager that I can only live with the humility of a person who has the right intellect that is unencumbered by a satanic mind.  We have had a fair share of the evil from PDP in Edo State hopeful that an ACN government in Edo State led by Comrade Oshiomhole may be a safe heaven.

 

But will Comrade Adams Aliyu Oshiomhole prove skeptics wrong and turn around the deplorable spate of selection and or imposition of unpopular candidates on the people? This is a million dollar question begging for an answer. The Governor appears to be a democrat. Oh! Did I just say that? Well, I hope I don’t have to eat my words if the illusion or better still, the illusory about internal democracy is anything to go by in regards ACN in Edo State shabby build up to her primaries for the impending local government election in the state.

 

It is apposite not to ignore the party’s scheming in Edo North with particular attention to Etsako West Local Govt Area, the Governor immediate constituency and inductively set an agenda for our discuss to correct the rots in the system. Charity they say begins from home.

 

The maneuver to manipulate the democratic process and subvert the strong will of the Etsako West Local Govt Area people was obviously displayed weeks past with a kangaroo like endorsement of one Hassan Kadiri by a hand pick of charlatans. The democratic and shoddy show of shame at the Governor’s residence in his native Iyamho village was masterminded by the over – zealous, very arrogant, illiterate and uncivilized LGA party chairman, Alh. Abubakar Akhohia. I honestly pity how the very few that were screened into the Governor’s residence by fierce and stern looking security operatives were coerced, compromised and humiliated against their conscience. In truth, most Nigerians are docile. No wonder, the over-zealous Akhohia was imposed on the people in less than three months after decamping from PDP to play a script. Illiteracy is not only a disease but also a barrier.

 

It is dishearten that the residence of the State Governor should be desecrated with this unholy act and his name sullied to an extent that the unrepentant charlatans swagger from political to social gatherings; from clubs to palm – wine joints and from eateries to mama – put with an emphatic bravado and pontification that their ill action was licensed by the Comrade Governor to compensate the beneficiary (Hassan) for his past numerous and serial failures at the polls. Good talk! It is only biblical that the last is first and the first turn last. I actually don’t want to fall into the temptation of discussing persons here.

 

The mere mention of “compensating with souls and future of Etsako-West people” is sacrilegious. Why not continue the once lucrative slave trade or human trafficking business in Edo State? Your excellency, Edo State people deserve a little apology as a sign of cleanse for all of this, sir. Where is democracy? Where is the rule of law that you preach? Where is one man, one vote? What about qualification and justification? This is hypocrisy. Without apology, this government is another ‘you are qualified but you are not wanted’ which is in consonance with the Orwellian thesis of ‘all animals are equal; some are more equal than others’.

 

It is shameful and very frustrating that a political party that is focused to win an election through lawful votes will choose to gamble her ticket to compensate an aspirant for his basket full of losses at elections from eternity. What a pity! This is another school of politicking. The indices that caused his yester years failures at elections will still tail him. Of course, I am beginning to doubt the integrity and credibility of the impending local government election to be conducted by EDSIEC. If Prof. Jega could get it right considering the impromptuness of the election, I don’t see why EDSIEC will not improve on the merits of INEC unless that the Comrade Governor is planning for it to fail. As our people will say “If the inferno starts from the shrine, where will the villagers take refuge” Nigerians are watching.

 

The falcons no longer hear the falconer. The once united ACN family has been polarized for one man’s interest. Ward chairmen and party leaders that are against subverting the will of the people are branded as saboteurs. They are treated as renegades and subjected to all manners of humiliations by Alh. Akhohia in an attempt to frustrate them out of ACN.  “The innocent souls that died for the reclamation of Oshiomhole’s mandate are weeping in their untimely graves; the then villains and vampires with blood soaked palms are lavishly celebrated and compensated, pumping Champagne on the graves of the fallen heroes”. God dey!

 

How come the Comrade Governor has suddenly changed his good philosophy that endeared him to all right thinking Nigerians and be heading for doom? It is unbelievable. Does he think the people are morons that they cannot figure out what is going on? When the kingmakers change their roles by joining the race to the palace, excuses upon justification begin to loom the air. But records are records. Views once held cant be easily obliterated in this golden age of twitter, blackberry and face book technology. And the hunter becomes the haunted. This is for the wise minds.

 

Though it will apposite to try absolve Comrade Oshiomhole of these allegations, he is one Nigeria that had won a place in history for the stand he once took on rule of law, democracy and his legendary One Man; One Vote in Nigeria politics that herald President Goodluck Ebele Jonathan a Pan Nigeria brand. The biggest confrontation of our political elite is the acute shortage of principled politicians as well as the awful lack of ideology in our politics. Honestly, I expected Oshiomhole to be a different brand from the band wagon politicians postulated by the great son of Africa, Osaguefo Kwame Nkrumah in his famous book, Consciencism and I quote “Principle is indivisible. It is either wholly kept or wholly sacrificed”. The bunch of charlatans and sycophants the Comrade Governor calls friends and he actually want to please definitely don’t have the political value that transcends into votes when the chips are down time. The Comrade Governor may hate this home truth. His bunch of sycophants may not be ready to upturn his apple cart by telling him that the music is getting over. Then what is left? Let him not see himself as an Avatar. No man is God.

 

Facts are sacred. The Comrade Governor should resist this temptation and controvert the damming and derogatory allegations. He should also resist certain category of politicians that are like Lucifer in John Milton’s ‘Paradise Lost’ who are prepared to reign in hell and suffer in paradise. He should focus himself on the course of advancing party internal democracy, rule of law, social justice and social infrastructural development and forever etched his name in gold letters.

 

In sum, let the Comrade Governor consider the possibility of another political party having the sympathy of the people and the entire political scheming backfires. Assuming this diabolical plot works, will the Governor  still have the right attitude to hold high his head for the legendary One Man; One Vote or as a Governor or a leader who desires to make a  progressive change where justice, equity and the rule of law prevails among all citizens irrespective of sex, religion and tribe.

 

In conclusion let me borrow a quote from Harold Robbins, “dreams die first and your plans gradually begin to collapse like a pack of cards. All your sermons obviously fell on deaf ears. Not even the oratory of the Linchon”.

 

 

Jonathan Sets Up Panel To Probe NDDC

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By Okey Ndiribe, Abuja

President Goodluck Jonathan, yesterday,  set up an eight-man committee to audit  contracts awarded by  the  Niger Delta Development Commission, NDDC. The Committee  would also examine other transactions and activities that hindered the activities  of the NDDC.

 

In a statement  by the Secretary to the Government of the Federation Senator Anyim Pius Anyim said; “The Committee which will be headed by Mr. Steve Oronsaye is expected to look into the problems that have hindered the operations of the Niger Delta Development Commission, NNDC,  and generated several concerns among stakeholders. ”

 

Other members of the Committee are : Bamidele Aturu,  B. O. N. Oti, ,Senator Bassew Ewa   Henshaw, Mrs. Koripama-Agari, Alhaji Mohammed Ibrahim, a  representative of the Bureau for Public Procurement and   Mr. Raymond U. Brown of the Office of  the Secretary to the Government of the Federation  as Secretary.

 

The Terms of Reference of the Committee are as follows: To  assess and evaluate a sample of some NDDC Projects ; evaluate the contractor’s prequalification process in the Commission; evaluate the roles and relationship of the Board, Management and Staff of the Commission; evaluate the procurement practices of the Commission and its compliance to the letter and spirit of the Public Procurement Act; evaluate the institutionalization of the orientation of all personnel of the Commission at all levels, in order to inform and manage expectations and  evaluate fund management of the Commission.

 

According to the SGF, ” the Committee has two weeks to complete its assignment.

C. Vanguard