NewStats: 3,264,178 , 8,182,876 topics. Date: Tuesday, 10 June 2025 at 04:05 AM 56631t

It is 2025, 10 years after this post, the Blue line still hasn't gone past Mile 2. They took billions in loans to build a rail line for well over 20 years.

Sheuns:
It is 2025, 10 years after this post, the Blue line still hasn't gone past Mile 2. They took billions in loans to build a rail line for well over 20 years.

BTW, what particular post are you referring to?

chisomkachy:
The Economic and Financial Crimes Commission (EFCC) has withdrawn the alleged money laundering suit it filed at the Federal High Court against Lagos Speaker Mudashiru Ajayi Obasa.

Naija News understands that the anti-graft did not give any particular reason for its application for withdrawal.

Following the application to withdraw, Justice Nicholas Oweibo discharged the ‘lien/Post No Debit’ placed on Obasa’s three s in Standard Chartered Bank.

The s are (US Dollars) 0001852063; (Current) 0001852056 and (Saving) 5002309624.

The judge also set aside the ex-parte orders he made on September 15, 2020, which led to the freezing of the s.

Recall that the court on September 15, 2020, granted an interim order freezing Obasa’s s following the EFCC’s application in a suit marked FHC/LCS/1064/2020.

The agency had said it was investigating the Speaker for the alleged offences of conspiracy, diversion of funds, abuse of office and money laundering.

But Justice Oweibo, on August 16, 2023, heard the application to unfreeze the s in his chamber.

During the hearing, the EFCC was represented by Mr. Sulaiman I. Sulaiman, while Obasa was represented by Mr. Adeyinka Olumide-Fusika (SAN).

The EFCC lawyer told the court that the application to unfreeze the s was pursuant to Section 44(2)(K) of the 1999 Constitution (as amended) and Sections 26, 29 and 34 (1) of the EFCC (Establishment) Act, 2004, and under the court’s inherent jurisdiction.

Section 44 of the Constitution concerns constitutional rights to property.

Justice Oweibo held: “It is hereby ordered that an order is hereby granted to the respondent/applicant setting aside the ex-parte orders of this court made on the 15th day of September 2020 upon the ex-parte motion of the Applicant/ Respondent in relation the funds of the Respondent/Applicant domiciled in the s stated in the following schedule:

“ NAME, FINANCIAL INSTITUTIONS, TYPE OF , 1. Mudasiru Ajayi Obasa, Standard Chartered, (US Dollars) 0001852063 2. Mudasiru Ajayi Obasa, Standard Chartered (Current) 0001852056 3. Mudashiru Ajayi Obasa, Standard Chartered (Saving) 5002309624.

“Issued at Lagos, under the seal of this Honourable Court and by the hands of the Presiding Judge this 16th day of August 2023.”

https://dailytimesng.com/obasa-efcc-withdraws-suit/

Previous Threads:
https://nairaland.moviesx.org/6168612/obasa-court-orders-efcc-freeze#94741534

Water Scarcity Hits Maitama, Embassies Affected

Tue, 25 Feb 2025

A severe water scarcity has hit the downtown area of Maitama District in the Federal Capital City over the last two weeks, Abuja Metro reports.

Many parts of the affluent neighbourhood have been struggling with lack of pipe-borne water as the Federal Capital Territory Water Board supply has been off.

https://dailytrust.com/water-scarcity-hits-maitama-embassies-affected/

May 1, 2025

May Day: Hunger, unemployment, insecurity real— Tinubu

According to him: “The theme demands our collective attention and serves as a stark reminder of the need to create an environment where every worker feels safe, valued, and empowered to contribute to the growth and prosperity of our nation. As your President, I assure you that this istration is committed to creating such an environment for the common good.”

On the economic hardship, he noted that while it is a global phenomenon, its effects on Nigerians are particularly severe.

Tinubu said: “I am aware of the peculiarities of the economic hardship Nigerians face—rising living costs, hunger, insecurity, unemployment, and the loss of livelihoods. These challenges are real and demand definitive solutions, which I am poised to address as your President.

https://www.vanguardngr.com/2025/05/may-day-hunger-unemployment-insecurity-real-tinubu/

Petrol should never cost more than N70 per litre, says APC

January 19, 2015

The All Progressives Congress (APC) has described as mere tokenism the reduction of petrol price from N97 to N87 per litre, saying the petroleum product ordinarily should sell for N70.

On Sunday, the federal government announced the reduction of petrol price, citing the fall of global crude oil price.

But the APC through Lai Mohammed, its spokesman, on Monday accused the government of making a show out of deceit, saying “a 10.3 per cent slash in the price of petrol was a mere tokenism at a time the price of crude oil has crashed by about 60 per cent”.

It argued that the pump price of a litre of petrol should not be more than 70 Naira, alleging that at N87 per litre, the government was forcing Nigerians to subsidise the massive corruption in the oil sector by N17 for every litre of fuel.

https://www.thecable.ng/petrol-never-cost-n70-per-litre-says-apc/

NLCreator666:
Lagos Resident Laments Economic Hardship, Hunger Under Tinubu, Confesses To Beating Elderly People, Others To Make Tinubu President

A Lagos state resident has lamented his inability to get petroleum despite beating people including the elderly to vote for President Bola Tinubu in 2023.

In a video posted on social media, he narrated how life had been hard for him despite all he did to ensure Tinubu became Nigeria’s President.

He said, “We wanted to buy fuel but we have been unable to get. They even beat us at the petroleum station. I was among those that beat people at Idi-Oro.

“We went from house to house, asking people to vote for you (referring to Tinubu). You emerged as the President and now you are destroying our lives. Getting food to eat is difficult for us.”

He noted that despite the hardship, different agencies in the state have kept milking them through taxation.

"I voted for Jagaban, I was among those that flogged people we refused to vote Tinubu at Idi-oro. We went from House to House attacking people who didn't vote for Jagaban, Today I am regretting”.

He said, “We are suffering in Nigeria, we have become lazy even in our own father’s land. We are drivers and that’s how we survive. LASTMA (Lagos State Traffic Management Agency), VIO (Vehicle Inspection Office) all collect money from us. Please Tinubu, do something about this hardship.

“We are the same people that beat up others so you could become the President. Some of them people we beat were our father’s mates, but we beat them up. We did that just because of you so you could become the President, and we kept saying it was our turn.

“Look at it now, the outcome is suffering, we cannot even buy rice again. You cannot buy N1000 food and be okay. I bought food of N1200 today and my kids have not eaten at home.”

He also expressed worry that he would be beaten for the comments he was making about Tinubu.

“I know that what I have said now, they will still come to beat me at home. I know that for sure,” he said.

https://saharareporters.com/2024/09/05/lagos-resident-laments-economic-hardship-hunger-under-tinubu-confesses-beating-elderly

ijustdey:
Nigeria will pay an interest of 11.85 percent per annum on the $3.3 billion “pre-export finance facility” (PxF) facilitated by the Nigerian National Petroleum Company (NNPC) Ltd and arranged by Afrexim Bank, TheCable can report.

Until now, the fine details of the transaction, which has a five-year tenor, had been withheld by all parties involved.

A similar cocoa-backed $800 million facility arranged for Ghana by its cocoa marketing board attracts an interest of 8 percent per annum.

Bilateral lenders, such as the International Monetary Fund (IMF), would typically charge 1-3 percent with a longer tenor.

In the details seen by TheCable, Nigeria pledged a total of 164.25 million barrels of crude oil — at 90,000 barrels per day — starting from 2024 to repay the loan through Project Gazelle Funding Ltd, an “orphan” special purpose vehicle (SPV) incorporated in Bahamas for the PxF.

Effectively, the NNPC has pledged 38.58 percent of five years’ worth of tax and royalty oil to secure the loan.
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‘DOLLAR LIQUIDITY TO STABILISE THE NAIRA’

The national oil company announced in August 2023 that the PxF was to the federal government “in its ongoing fiscal and monetary policy reforms aimed at stabilizing the exchange rate market”, describing it as “a relief for the naira”.

It called the facility “crude oil repayment” with an upfront cash loan “against proceeds from a limited amount of future crude oil production”.

At the time, the dollar exchanged for an average of N775 in the official market and N885 on the streets.

The rates have now moved to N1,035/$ (official) and N1,230/$ (parallel).

https://www.thecable.ng/exclusive-nigeria-to-pay-11-85-interest-on-3-3bn-afriexim-nnpc-loan-pledges-164m-barrels-as-security/amp

March 21, 2011

Tinubu rules out alliance with C

Prospect of a possible alliance between the Action Congress of Nigeria, ACN and Congress for Progressive Change, C, was dashed yesterday in Kano as the leader of the party and former governor of Lagos State, Asiwaju Ahmed Bola Tinubu described C as parading “expired leadership.”

Tinubu told ACN ers in Kano during the party’s Presidential rally that: “What Nigerians need now is a transformation in leadership” as obtained in the advanced economy.

The two-term Governor of Lagos State explained that the leadership of ACN was offering Nigeria the brilliance of Nuhu Ribadu who, he said, is in the class of Nicolas Sarkozi of , David Cameron of Britain, Medvedev of Russia and Barack Obama of the United States of America.

“What has C got to offer? We certainly don’t need expired leadership as we are offering the best in of brilliance, courage and patriotism in the class of Sarkozi of , David Cameron of Britain and Barack Obama of the USA.”

Tinubu’s position came on the heels of Ribadu’s declaration penultimate week in Kaduna when he hinted during a political rally of a t ticket between the two opposition parties to confront the dominance of the Peoples Democratic Party, PDP.

The national leader of ACN criticised President Goodluck Jonathan for shying away from the national debate held last Friday, stressing that”that singular act exposed Jonathan as a coward who has nothing to offer.”

http://www.vanguardngr.com/2011/03/tinubu-rules-out-alliance-with-c/

How import waivers are crippling local rice mills

Rice millers have raised concerns over the federal government’s import duty waiver on rice, maize and sorghum, saying it is hurting their businesses.

This is just as the Nigeria Customs Service (NCS) said the waiver has caused food prices to drop.

https://dailytrust.com/how-import-waivers-are-crippling-local-rice-mills/

Fashola to Nigerians: 'If You Want to Have Stable Electricity Supply, Vote PDP Out in 2015'

Jul 11, 2014.

Lagos State Governor, Mr. Babatunde Fashola, while marking his 2,600 days in office at an elaborate ceremony held at the Blue Roof of the Lagos Television premises, has said voting out the ruling Peoples Democratic Party (PDP) from power in next year’s general election is the only way the country can have stable electricity.

According to The Nation, Fashola said electricity crisis in the country is caused by lack of ideas and insincerity of purpose on the part of Federal Government.

"Yes I agree with you that it is possible to generate electricity and to make sure that everybody in this country has electricity, we have to do the right thing. But you know what, the only way that you and I will have electricity in this country will be to vote out the PDP.

https://thenationonlineng.net/only-way-to-have-stable-electricity-is-to-vote-out-pdp-says-fashola/#google_vignette