No lies told.
This man established what is now Galaxy Backbone. The ICT & Shared Services provider of the FGN.
First subnational FTZ in Nigeria.
First to establish contributory pension before LASG & FG.
Pioneered UBEC.
The youngest of 99 is 60 today. Elected at 35. Saminu, one of the world's smartest. Though with an inherently "restless spirit" Happy Birthday. Congratulations. To God be the glory.
@kc_journalist
@woye1
Putting concessions on hold is opening yourself to litigation.
Same applies to Nigeria Air.
I don't know if the previous process is all proper but you can't just put things on hold via fiat. There should be a process for this.
We also need to show we are investors friendly.
Without significant increase in our oil production numbers urgently, the Naira is doomed.
70-85% of Federation Oil is already committed to one deal or the other. So despite oil production been below our record high, we are only getting value for only about 15%.
Good luck to us.
@WaleMicaiah
@yojora
That is why people call Nigeria a crime scene.
The budget is public with all its 'details', same with the Audit Report.
My people just move on to the next 'hot' topic.
The
#LagosIbadanRail
will include 5km of Rail Lines within the Apapa Port Complex, & an 8km Rail Line connecting the Apapa Port to the Ebute Metta Mega Station.
At the site of the Ibadan Station (Moniya), there will be an Inland Container Depot to process containers from Apapa.
I have never seen such an ambitious *redacted*, even much so in broad day light.
N15tn not on a gas infrastructure or intercity rail.
The whole of the Renewed Hope IDF is planned to be N20tn but we want to use 75% of it on one road.
Well done to all of us.
@DrJoeAbah
@buypowerng
@aedcelectricity
Pic 1: Old Tariff
Pic 2: New Service Reflective Tariff started in 01.09.2020
Pic 3: SRT suspended due to pressure from labour around 28.09.2020.
Pic 4: Commencement of Revised SRT 01.11.2020
President emboldening police to be breaking into warehouses is reckless. Criminals might hijack that moment as well. Such a statement shouldn’t be making it to a presidential statement.
This is intentional then.
I searched "Why is food prices cheap in the UK?". The result - "It currently imports about half of all its food, up from a third in 1988. Retailers are able to source foods cheaply from around the world...".
My thoughts on the CBN backlog.
I doubt we have seen any of the agreed (line of sight 😔) inflows PBAT or Wale Edun spoke about.
My guess on what we saw is from the additional inflows from increased oil production in the past few months.
Coastal Road for the win.
Please note that a particular equipment that ensures grid reliability - SCADA is lacking in Nigeria's transmission network. We have been struggling to fund it. I think WB is helping out now.
Just highlighting more impactful projects that we need.
Progress made even with $2.4b (invalid) backlog still outstanding.
Cardoso clearly defined what is the meaning of invalid. Check out the interview with Arise again.
I don't have enough info to engage in the Airline debate
Bottomline: Progress made. We await impact on FX supply
June 2022! 😱 is too far. Lagos Ibadan was completed under 3 years.
Maybe you mean Okokomaiko to Marina.
Mile 2 to Marina stations has been completed, pillar across the Marina too is complete. WTH are they doing till 2022.
@Mr_JAGss
Workers resume construction at the 27km Blue Line of Lagos Rail that will run from Marina to Okokomaiko . By June 2022, commuters will be able to move from Marina to Mile 2 by train. Progress has also been made in the Lagos Lagoon bridge for railway movement . Sanwo-Olu 🙌🏾.
Don't let anybody bobo us, inflation (price stability) is a CBN problem and they are not supposed to fix it by using quasi-fiscal tools.
They will use monetary tools - i.e. interest rate etc.
Meet Engr. Clement Onyemelukwe.
The Man Who Designed Nigerian National Grid. He is regarded as the "Father of Electricity" in Nigeria.
All you need to know about him? It's a Thread!
Retweet to educate someone
Like Dr. Idowu said, the first thing we need to solve for is the value chain mismatch and never allow it to happen again.
Generation: 13,000MW
Transmission: 8000MW
Distribution: 5,000MW
We need to align these capacities as a matter of urgency.
If you are ever tempted to think that our power generation companies can't improve their supply, then spare just four minutes to read this. I wrote this in 2016 after a privileged tour of two power plants and conversations with their management and other stakeholders. It was
@UntimelyMa
If we keep to our reforms, it will get better.
The problem is and always been the lag time (interpret as the suffering time for Nigerians) should be shorter if we are more intentional and move more urgently.
Dear Nigerians,
My administration is dedicated to evolving home-grown solutions to tackle our nation's food security challenges head-on including setting up schemes to bolster local food production and cut out all forms of rent-seeking tied to food importation.
I reiterated
I am tweeting this for when Obaseki comes to talk about good governance.
He governed the state for years with only 9 house of assembly members out of the 26 members.
Without increase in minimum wage and commencement of cash/digital transfers to the vulnerable, govt will find it hard to continue with the reforms.
This is now becoming more evident.
Good luck to us all.
Lagos is dark
@followlasg
.
Drove from Yaba to Badagry and not one bulb on all the street lights was on. Disappointing.
Lagos has a framework for public asset maintenance and also created an agency to drive it.
Lagos MEMR needs to hand over street light maintenance to LASIAMA
The irony of massive projects by LGAs/LCDAs in Lagos.
They claim to build "state of the art" facilities but cannot MAINTAIN street lights, environment sanitation, PHCs, security etc.
We need to redefine their focus.
That sector can't be liquid with the way we are going.
Even with Band A paying CRT, where is the govt going to fund the balance of the subsidy?
N3.3 trillion in subsidy to a sector but your total budget is just 10%. After saving N1.14t, where are we going to pay the rest from?
One part that I didn't get to comment on is the interconnectedness of these reforms.
I think it is a comms issue from the govt. Many people can't figure these things out on their own.
The govt needs to come out and tell people that for this sector this is our ST & LT plans.
High input cost, insecurity, climate issues, agriculture productivity, logistics costs, storage issues, post harvest losses etc.
Which of these can be solved for Nigerian farmers before we die of starvation?
@Abiodun0x
I am more uncomfortable that our Navy aren't upping the game to displace him.
Other places, there is inter-agency rivalry to show that your agency is working. They can't even allow a fellow state actor to out play them in the game, not to talk of non-state actors.
Oil production in Sept. highest in 2023. From
#1
.415m in Aug to
#1
.572m in Aug.
Forcados doubled its number from Aug. Impressive. Bonny also up. Brass, Escravos, Odudu & Quo Iboe experienced minimal drop.
Close to MKK's target of 1.6m. Hopefully this continues till YE.
We are back up a bit in oil prod for Aug 2023. From
#1
.303m (adj. from 1.29m they posted last month) in July to
#1
.415m in Aug.
Bonny & Quo Iboe are up again. Forcados also up, but still below potential.
Hopefully the leaks are done and we get the 1.6m MKK alluded to in Sept.
Let's start for 2024 here.
January 2024: Loke Loke
Oil production per day increased in Jan 2024. From
#1
.552m in Dec'23 to
#1
.644m in Jan'24.
All the major terminals increased above the highest level we got in Sept 2023.
Note: These data include condensate.
@crowd_of_one
Perhaps the most telling data point: 11 of the 80 women on Forbes‘ list of the Richest Self-Made Women made their money in beauty or skincare products.
The GIP deal makes me further appreciate what Dangote did with his investment in the Refinery.
In Cement: Trader to Manufacturer.
In Oil & Gas: Straight to Manufacturing.
Some bold and massive move there.
Congrats to him.
They really need to do something about the Comms team in the Presidency.
Even somebody that is been reappointed, they are using a wrong picture.
TheTiger
Your active engagement prompted a response from LASG to our open letter last week. Today, I wrote a follow-up letter to the Governor. I’m very proud of, and grateful to you all. Let’s remain engaged and together, we’ll achieve a transparent, inclusive and prosperous Lagos.
The drop in oil production is what we mean when we say the fiscal side is not doing enough to support the monetary side in FX stabilization.
Will CBN do OMO auction every week?
Can we be hawkish enough for a 30%+ MPR?
Wicked and incompetent people in govt, reducing tariff is overkill but Customs selling seized rice is seen as normal.
What is process of disposing seized food items that aren't harmful?
We should have this things and in public too.
@iamrildwanbello
The monetary authority cannot maintain a loose monetary stance in an high inflationary environment.
Whether the drivers of inflation are structural or not, maintaining a tight monetary stance in an high inflation environment is the right thing to do.
Why this constant debate?
You need economic complexity to leave the trenches.
This is for those who think we shouldn't talk about AI & ML until we have food security.
We can do both.
Another weekend to remind all of us. We need to institutionalize social protection.
No social protection is one of the reasons our unemployment rate is 4.1%.
Our elders would rather work than beg.
Our youth would rather be underemployed than wait.
Bad combo - wickedness and incompetence.
This is 9months after removal of subsidy but yet no concrete social compact at least do cash/digital transfer.
Buhari with all his shortcomings administered cash transfer without this much noise before he brought in Sadiya.
God help us
Exactly, all this take ko necessary.
We need dollar supply simple.
Last week when we saw 1400-1500 ish, dollar supply was around $400m-$500m daily on average.
Since Friday dollar supply has been around $60m -$70m.
@ChampagneDT
I agree.
For me, the root cause of this liquidity issue is non-reflective tariff.
Consumers can't pay more because:
1. It is expensive
2. No value for money
3. Most can't afford it
Aside affordability, the others are driven by our poor energy & power infrastructure.
Interesting thoughts on the recent electricity subsidy removal.
I am really more concerned about his point about the difference between customers and consumers.
@gbemle
@ChampagneDT
@Oreoluwaa_Idowu
Yes there is an expectation gap. Many don't know that more than half of the USD used in clearing backlog came from the fiscal side.
However, I still think He can do more. The budget did not show any fiscal discipline for one. Aside cash transfer, the middle class need tax break.
I don't like getting into political debates but how many of the Lagos voters know about the Yoruba ronu debates?
Lagos used more sinister means to gather votes and it was not based on ethnic bigotry.
After all the appointment of a Coordinating Committee, it seems there is little coordination.
First there was Expatriate Levy and now there is a Cybersecurity Levy.
All these are against the guiding principles of both the old and the proposed National Tax Policy
PBAT do better
My country:
Nigeria places high effective duty rates on imports into strategic sectors to boost the competitiveness of the local industries. In agriculture, wheat (85%), sugar (75%), rice (70%), and tomato paste (50%) see the highest supplemental tariffs...