Abuja FileAll The NewsBusinessEconomyNewsSecurity

NSCDC to Prosecute Illegal Petroleum Products Dealers

5 Mins read

By Time Nigeria

 

The Commandant General of the Nigeria Security and Civil Defence Corps, NSCDC has vowed to prosecute the illegal dealers of petroleum products in the country. This is contained in a statement signed by the Corps Public Relations Officer, CDC Emmanuel Okeh and made available to Time Nigeria.

 

According to the release, the Commandant General of NSCDC Abdulahi Gana Muhammadu entourage who went round the filling stations with his principal officers was visibly shaken with anger over what he saw at some filling stations, hence, decided to set up Special Taskforce to monitor and arrest those dealing illegally on the Petroleum product, involving hoarding and diversion in order to prosecute the illegal dealers of petroleum products and their accomplices whom he tagged “economic saboteurs” terrorists and enemies of the Nation.

The statement: “Despite the consistent and continued reassurance of the Federal Government as issued by the Minister of State, Petroleum Ministry Dr. Ibe Kachikwu, who made it clear that the storage reserve of petrol in the depot is more than enough to last till the end of the yuletide. The scarcity of fuel continues to be fuelled by these cabals who will never see any good in the present government.

“NSCDC boss has directed his officers and men to be weary of these cabals who could do anything possible to undermine the efforts of the present government, and create chaos and pandemonium that could rock the core mandate of the Corps. As the head of an interventionist agency, Gana is poised to pursue policies that will ensure peace, progress and development of the Nation.

“In this regard, plans are already concluded to raid, seize and confiscate  all the petroleum products found in the possession of these economic saboteurs and declare them as terrorists and enemies of the people.

“The CG is also using this opportunity to praise and congratulate all the peace loving Nigerians to remain good citizens and law abiding in all their undertakings. He assured them that as the Defender of the defenceless”, that NSCDC will continue to do their best to protect, preserve and defend their Core mandate as enshrined in the Constitution.”

It would be recalled that the perennial long queues at the filling stations is becoming worrisome and burdensome to commuters and traffic of inter and intra transportation systems in the country, this is caused by the annual scarcity of petroleum products at the filling stations as a result of the nefarious activities of hoarders, peddlers and other criminal elements who are using the opportunity to sabotage the effort of this government to give the people a hitch free yuletide season. The statement concluded.

 

 

 

Governance failure cause insurgency-Former NIPSS DG

By Samuel Oyejola

The former Director General of the Nigeria Institute of Policy and Strategic Studies Kuru, Prof. Ahmed Danfulani has said that failure of governance and corruption at the corridor of power are the causes of Boko Haram in the country.

He said the poor and the less privileged youths in the country are not comfortable with the extravagant spending of the politicians. He said this at the International Seminar on Human Rights and Terrorism held in Abuja on Teusday.

The Professor accused politicians and public office holders in the country especially in the north of spending money meant for the development of the country on luxury cars and other unnecessary things.

He warned the government that insurgency would be a reoccurring development in Nigeria until the government learns to manage ethnicity and religion among Nigerians.

“Ethnicity and Religion are the causes of insurgency if they are not managed well it would spark unrest and terrorism,” he said.

The former NIPSS DG said the government must be sensitive to the issues of ethnicity and religion diversity in Nigeria while encouraging Nigerians to tolerate the religion of others.

Also speaking at the seminar, an Assistant Professor from the George Mason University, United States of America, Dr. Daniel Egbiboa lamented that despite the work of the Nigerian security agencies in tackling the Boko Haram insurgency, international agencies allege human rights abuses on the security agencies.

He advised the Amnesty International and other human rights organizations to engage the Nigeria Army when gathering their reports.

Egbiboa was worried that international organisations like the Amnesty International in their reports focuses on the negative potentials of the people while they forgetting about those who are working hard to stop the insurgency.

While commending the military authority for the language requirement for military personnel in the country, he said the move would go a long way to facilitate trust between the locals and the military.

The associate professor said that while the government is working hard to win the war on insurgency and terrorism, he charged them to work towards winning the peace.

“The state and the non-state actors in the fight against terrorism must work together. There must be hybrid security governance,” he said.

“The government should also look at the future of the civilian–JTF. They must work on the psychological trauma of the locals. It is important to start the process of winning the peace as early as possible, he warned.”

 

wara speaker advocate for ICPC to be strengthen in fighting corruption.

 

By : Kayode Abdulazeez, ilorin

 

The Speaker of the Kwara state House of Assembly, Dr Ali Ahmad called for strengthening of the Independent Corruption Practices and Related Offences Commission (ICPC) if truly Nigeria wants to fight corruption.

 

Ahmad said this in Ilorin at the 10th Justice M.M.A Akanbi Faculty of Law, University of IIorin annual lecture where he added that restructuring means different things to different people.

 

“EFCC from inception is the worst thing that will ever happen to us in this country. We are just fooling ourselves that we are fighting corruption but we are not fighting corruption. EFCC is just redefining corruption to means pursuit of opposition members.

 

“So the fist is not against corruption but pursuit of opposition. EFCC cannot fight corruption, EFCC can never fight corruption , ICPC is better suited to fight corruption because it follows the rule. Federal government should empower ICPC, because it follows the rule in  attacking the process and procedure.

 

“Politicians are less than a thousand and that is what ICPC is following but bureaucracy is over a million. You can see 90% of houses in Abuja belong to the Directors, not politicians. So we are just fooling ourselves for saying that we are fighting corruption. Its good, it’s popular, but I think if any government wants to fight corruption, the ICPC should be strengthened to strengthen our processes and procedure and not just for suing people”

 

On restructuring, Ahmad said if it means alleviating poverty, good governance, he is in support adding that if restructuring is creating more states, he is against it.

 

“I support devolution of power to state but if it means more local government, more bureaucracy, it does not take us to anywhere. I do not believe in going back and forth, The Jonathan’s conference has suggested a little merger that might be perfect. But the problem is not the system, it is us Nigerians,” Ali Ahmad said.

 

The guest speaker at the occasion and a Senior Advocate of Nigeria, Yusuf Ali, while speaking on the theme: “To restructure or not to restructure, the new swan song of the Nigerian elites,” said it is high time to unbundled the over concentration of powers at the centre to give room for development at both the states and local government levels. “I believe the best way the agitation should be addressed is through the instrumentality of constitutional amendment by National and state houses of Assembly”.

 

 

Governor Ahmed Appoint new SUBEB CHairman.

 

By : Kayode Abdulazeez, Ilorin

 

The Executive Governor of Kwara State, Alh. (Dr.) Abdulfatah Ahmed has approved the appointment of Alhaji Jimoh Lambe Abdulkareem as the Executive Chairman of Kwara State Universal Basic Education Board (KWSUBEB) to replaced Alhaji Ladi Hassan who is now the executive Secretary of federal capital development authority (FCDA).

According to a release signed by Alhaji Sola Isiaka Gold, the Secretary to the Government of Kwara State, the new appointee holds a Masters in Public Administration (MPA), Masters in Environmental (MEM), and is a member of the National Institute of Management (NIM), as well as Fellowship of Chartered Institute of Local Government and Public Administration of Nigeria.

According to the SSG, the new KWSUBEB Chairman, Alhaji Abdulkareem, has previously served as the Special Assistant to the Executive Governor of Kwara State on Community Relations and Commissioner I, Kwara State Local Government Service Commission.

Alhaji Gold added that the appointment of Alhaji Abdulkareem takes immediate effect

 

   

About author
Time Nigeria is a modern and general interest Magazine with its Headquarters in Abuja. The Magazine has a remarkable difference in editorial philosophy and goals, it adheres strictly to the ethics of Journalism by using the finest ethos of the profession to promote peace among citizens; identifying and harnessing the nation’s vast resources; celebrating achievements of government agencies, individuals, groups and corporate organizations and above all, repositioning Nigeria for the needed growth and development. Time Nigeria gives emphasis to places and issues that have not been given adequate attention by others. The Magazine is national in outlook and is currently being read and patronized both in print and on our vibrant and active online platform (www.timenigeria.com).
Articles
Related posts
All The NewsCover StoryNewsPolitics

Musa Tsoken Congratulates Kalu on Daily Times’ Lawmaker of the Year Award

1 Mins read
The National Coordinator of the Asiwaju Again Renewed Hope Support Initiative 2027 and National President of the APC Initiative for Good Governance…
Abuja FileDevelopmentEconomyEnergyFinanceInside LagosOpinionPerspective

The Missing Middle of Infrastructure Finance: Why Capital Still Fails to Become Infrastructure

6 Mins read
  By Chidi Nwafor  In October 2023, a Gulf sovereign wealth fund quietly closed a $2 billion allocation to global infrastructure, earmarked in part for emerging-market energy and transport assets. The announcement drew the usual applause: another sign, commentators said, that institutional capital was finally waking up to the infrastructure opportunity in the Global South. Eighteen months later, less than a tenth of that allocation had actually left the fund’s balance sheet. Not because the mandate had changed. Not because the fund had lost appetite. According to two people familiar with the portfolio, the constraint was simpler and more uncomfortable: there were not enough investable projects to put the money into. This is not a story about a reluctant investor. It is a story about capital that wants to move, cannot find enough places willing and able to receive it in a form it can underwrite, and quietly waits instead. Multiply that fund by the hundreds of pension schemes, sovereign wealth vehicles, commercial banks and infrastructure funds now carrying dedicated allocations for emerging-market infrastructure, and a pattern emerges that rarely makes it into a headline: the world is not short of capital for infrastructure. It has capital in historic abundance, sitting adjacent to a historic infrastructure gap, unable to cross the distance between the two. The Comfortable Explanation  The explanation on offer at every major infrastructure summit is a familiar one. Global infrastructure investment needs run into the tens of trillions of dollars over the coming decade; committed capital falls well short; therefore, the problem is one of insufficient funding, and the solution is more of it: more pledges, more blended-finance facilities, more climate funds, more multilateral capital increases. It is a comfortable explanation because it assigns responsibility clearly to governments who under-fund, institutions who under-commit, and it offers a clean remedy: raise more. It is also, on close inspection, not what the evidence shows. Pension funds globally hold trillions in assets under management with explicit infrastructure allocations that remain structurally underweight, not because trustees have rejected the asset class but because deal flow meeting their risk and governance thresholds has not materialised at the pace their mandates assume. Sovereign wealth funds report the same pattern. Commercial banks with dedicated project finance desks describe pipelines that look full at the term-sheet stage and thin dramatically by financial close. Development finance institutions, whose entire purpose is to absorb risk that commercial capital will not, routinely report that their binding constraint is not capital adequacy but the volume of bankable transactions their teams can originate and structure in a given year. None of this fits the scarcity narrative. All of it fits a different one. Availability Is Not Deployability  Capital availability and capital deployability are not the same condition, and the conflation of the two is doing real damage to how the world thinks about the infrastructure gap. Availability asks whether money exists somewhere with a mandate that could, in principle, be pointed at infrastructure. Deployability asks something much narrower and much harder: whether a specific project, at a specific moment, has been engineered, structured, documented and de-risked to the point where an investment committee can approve it without exception. The first condition is met, overwhelmingly, across nearly every category of capital that matters to infrastructure. The second is met by only a small fraction of the projects competing for it. The result is a market that looks, from the outside, like a financing gap, and functions, from the inside, like a conversion problem: an abundance of capital on one side, an abundance of infrastructure need on the other, and an underbuilt set of mechanisms in between capable of turning one into the other at any meaningful scale. Where the Conversion Breaks  The break does not happen at the ends of the process. It happens in the middle, in the unglamorous sequence of work that turns a plausible concept into an instrument a fiduciary can sign. A promising transmission project needs a feasibility study rigorous enough to survive institutional scrutiny rather than optimistic enough to attract early interest. It needs offtake arrangements that hold up under real counterparty and currency risk, not the counterparty risk assumed in a base case. It needs environmental and social documentation calibrated to the standards of the institutions being asked to fund it, not the standards of the jurisdiction hosting it. It needs a legal and commercial structure that allocates risk in ways a commercial lender, not only a development financier, will accept. It needs a sponsor capable of executing what has been proposed, not merely capable of proposing it. Each of these is ordinary project finance discipline. None of it is exotic, and in mature infrastructure markets it happens as a matter of course, absorbed into systems built over decades: specialist advisers, standard-form contracts, established procurement norms, deep pools of transaction expertise. What is missing in the markets where the infrastructure gap is largest is not the standard itself but the machinery that meets it. Projects arrive at investment committees with ambition intact and preparation incomplete, and that gap is treated, again and again, as an individual project’s failure rather than what it actually is: a structural absence in the systems responsible for producing investable transactions at scale. The Missing Middle  This is the Missing Middle of Infrastructure Finance: the institutional architecture that sits between capital that wants to move and infrastructure that needs building, and whose incompleteness explains far more of the global infrastructure gap than any shortfall in committed funds. It consists of project preparation facilities able to fund feasibility and structuring work before commercial viability has been proven. Transaction advisers capable of building deals that satisfy development mandates and commercial return thresholds at once, rather than treating the two as separate constituencies to be managed sequentially. Risk-sharing and guarantee instruments that convert political, regulatory and currency risk into something a commercial balance sheet can underwrite. Aggregation platforms that bundle smaller, individually sub-scale projects into portfolios large enough to justify institutional transaction costs. Standardised documentation that reduces the bespoke legal cost of every new deal. And coordination across ministries, regulators and financiers robust enough that a technically sound project does not die in bureaucratic sequencing after the money has already been found. None of these are new ideas in isolation. What is missing is their assembly into a coherent system, deliberately funded and institutionally accountable, rather than scattered across donor-funded pilots that end when the grant does. The African Dimension  Africa makes this dynamic unusually visible, and consequently offers an unusually clear opportunity to correct it. The continent’s infrastructure financing need, by any measure, is vast. Less understood is that the shortfall is disproportionately one of preparation rather than capital. Nigerian gas-to-power, off-grid solar and mini-grid developers have each demonstrated that individual projects can clear the bankability bar; what has not emerged is systemic pipeline scale, a steady stream of comparably prepared projects large enough to absorb the capital already circling the sector. The pattern repeats, with local variation, from grid infrastructure in East Africa to transport corridors in West Africa. Interested capital is rarely the scarce input. Investment-ready projects are. The Global Comparison  Mature markets solved this problem gradually and mostly invisibly, through decades of institution-building that predates the current infrastructure conversation: specialist project finance units inside banks, standardised PPP frameworks, established regulatory playbooks, deep benches of transaction lawyers and engineers who move between deals rather than between one-off assignments. Emerging and frontier markets are not being asked to meet a lower standard. They are being asked to meet the same standard without having built the same machinery, and then being told, when deals fail to close, that the problem is insufficient funding….
Cover StoryNewsSports

Union Bank, AIICO Multishield, Checkers Custard, Others Back 5th Cycling Lagos

2 Mins read
Union Bank of Nigeria Plc, AIICO Multishield, Checkers Custard and other corporate organisations have thrown their weight behind the 5th Cycling Lagos,…
Stay on the loop!

Subscribe to our latest news.

Leave a Reply

WP2Social Auto Publish Powered By : XYZScripts.com