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President Tinubu’s June 12 speech

TEXT OF DEMOCRACY DAY NATIONAL BROADCAST BY HIS EXCELLENCY PRESIDENT BOLA AHMED Tinubu, GCFR ON JUNE 12, 2023

Fellow Nigerians,

2. It is exactly three decades today that Nigerians went to the polls to exercise their inalienable right to elect a President of their choice to lead the transition from military dictatorship to a representative government of the people.

3. The abortion, by military fiat, of the decisive victory of Chief Moshood Kashimawo Olawale Abiola of the defunct Social Democratic Party (SDP) in the June 12, 1993, presidential election, up to that time, the fairest and freest election in the country’s political evolution, turned out, ironically, to be the seed that germinated into the prolonged struggle that gave birth to the democracy we currently enjoy since 1999.

4. In rising to strongly oppose the arbitrary annulment of the will of the majority of Nigerians as expressed in that historic election, the substantial number of our people who participated in the struggle to de-annul the election signified their fierce commitment to enthroning democracy as a form of government that best ennobles the liberty, the dignity of the individual and the integrity as well as the stability of the polity. The fierce opposition to the annulment of the June 12, 1993, presidential election and the unrelenting pro-democracy onslaught it unleashed was the equivalent of the battle against colonial rule by our founding fathers that resulted in the gaining of Nigeria’s independence in 1960.

5. Just like the anti-colonial movement, the pro-June 12 vanguard demonstrated, once again, the enduring validity of the 19th century historian, Arnold Toynbee’s eternal postulation, that civilization and societies experience progress as they are forced to respond to challenges posed by the environment. The unjust annulment of a widely acknowledged free and fair election was a challenge that elicited resistance by a resurgent civil society, leading ultimately to the attainment of our ‘second independence’ as exemplified by the return of democratic governance in 1999.

6. Fellow compatriots, we celebrate a day that has remained a watershed in our nation’s history, not just today, but for every June 12, for the endless future that our beloved country shall exist and wax stronger and stronger, generations of Nigerians will always remind themselves that the democracy that is steadily growing to become the defining essence of our polity was not gifted to us on a silver platter.

7. We can easily recall the sacrifice and martyrdom of Chief MKO Abiola, the custodian of the sacred mandate that was so cruelly annulled. He sacrificed his life in unyielding, patriotic defense of the ideals of democracy as symbolized in his choice, by his fellow countrymen and women, as their duly-elected President. There was an easier choice for him. It was to forgo the justice of his cause and opt for the path of ease and capitulation in the face of the tyranny of power. To his eternal credit and immortal glory, Abiola said no. He demonstrated the time-tested eternal truth that there are certain ideals and principles that are far more valuable than life itself.

8. Everyday, on this day, down the ages we will recall the several other heroes of democracy such as Kudirat Abiola, wife of Chief Abiola, who was brutally murdered while in the trenches fighting on the side of the people. We remember Pa Alfred Rewane, one of the heroes of our independence struggle and Major General Shehu Musa Yar’Adua (rtd) who were silenced by the military junta while in pursuit of democracy. They gave their yesterday for the liberty that is ours today.

9. The point is that we must never take this democracy for granted. We must forever jealously guard and protect it like a precious jewel. For, a people can never truly appreciate the freedoms and rights democracy guarantees them until they lose it.

Meet the new acting CBN governor: Folashodun Shonubi

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Mr. Folashodun Adebisi was born on the 7th of March, 1962. He attended the University of Lagos from 1978 to 1983 and obtained a Bachelor of Science in Mechanical Engineering. He further obtained a Master of Science in Mechanical Engineering in 1985 with bias in Production Engineering from the same University. From 1988-1989 he shifted grounds to Finance and obtained a Masters’ in Business Administration specializing in Finance.

He began his working experience as a Consultant Engineer at Mek-ind Associates and worked from 1984 to 1989. From 1989 to 1990, he was a Marketing Executive at Inlaks Computers Limited. He moved to Citibank Nigeria Limited as Head, Treasury Operations from 1990 to 1993. He joined Agusto & Co. Ltd as a Supervising Consultant from 1993 to 1996 from where he moved to MBC International Limited as Deputy General Manager, Banking Operations & Information Technology from 1999. In 1999, he joined First City Monument Bank (FCMB) Limited as Vice-President, Operations & Information Technology and was there till 2002.

In 2003, he moved from FCMB to Ecobank Nigeria Plc as an Executive Director, Operations & Information Technology and in 2007 he became the Director, Information Technology and Corporate Services, Renaissance Securities Nigeria Limited. He was recruited by Union Bank of Nigeria Limited as an Executive Director, Operations, Technology and Services, September 2009 to April 2012.

He became the Managing Director/CEO, Nigeria Inter-Bank Settlement System Plc from May 2012 to October 2018. October 2018 to June 9, 2019, Mr. Folashodun was the Deputy Governor, Operations of the Central Bank of Nigeria (CBN). He was appointed acting governor following the suspension of Godwin Emefiele on 9th June 2019 by President Bola Tinubu. He is married with children.

Tinubu suspends Emefiele as CBN governor

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Nigeria’s president, Bola Ahmed Tinubu has suspended Godwin Emefiele as governor of the Central Bank of Nigeria.

In a statement signed by Willie Bassey, a director of information at the office of the Secretary to the Government of the Federation, Mr. Emefiele’s suspension was “sequel to the ongoing investigation of his office and the planned reforms in the financial sector of the economy.”

Mr. Emefiele was directed to hand over the affairs of his office to the deputy-governor, operations directorate, Mr. Folashodun Adebisi Shonubi, with immediate effect.

Mr. Emefiele drew the ire of Mr. Tinubu and the ruling APC in the run up to the 2023 presidential elections when he introduced the controversial naira redesign policy. The move was largely regarded as an attempt to subvert the chances of the ruling APC, whose candidate (Mr. Tinubu) went ahead to win the election.

Mr. Tinubu criticised the policy during campaigns. He also took a jibe at its implementation in his inaugural address, promising to reconsider the policy. Mr. Emefiele was first appointed by President Jonathan in 2014, and reappointed by President Buhari in 2019 for another term of 5 years.

First case of crocodile ‘virgin birth’ reported in Costa Rica

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Scientists have documented the first-known instance of a “virgin birth” by a crocodile, which had been living in isolation for about 16 years at a Costa Rican zoo, according to a new study.

The female crocodile produced a clutch of 14 eggs within her enclosure in 2018 despite having no contact with males for about 16 years, researchers said.

While producing eggs has been documented among captive reptiles, the more puzzling fact came after three months of incubation when one of the eggs was found to contain a fully formed stillborn baby crocodile.

“While it is not uncommon for captive reptiles to lay clutches of eggs, given the period of isolation from mates, these would normally be considered non-viable and discarded,” the research states.

According to the study published in the journal Biology Letters on Wednesday, scientists tested the crocodile fetus’s genetic makeup. They found DNA sequences showing it was a result of facultative parthenogenesis (FP), or reproduction without the genetic contribution of males.

The research paper features an image of the mother and the fully-formed stillborn fetus, which tests later showed was female.

The phenomenon of FP, which some scientists have referred to by the shorthand of “virgin birth”, has also been documented in other species of fish, birds, lizards and snakes. The scientists said this is the first-known example in a crocodile.

In FP, a female’s egg cell can develop into a baby without being fertilised by a male’s sperm cell.

In making an egg cell, a precursor cell divides into four cells: one becomes the egg cell and retains key cellular structures and the gel-like cytoplasm, while the others hold extra genetic material.

Then, one of those cells essentially acts as a sperm cell and fuses with the egg to become “fertilised”.

“These findings therefore suggest that eggs should be assessed for potential viability when males are absent,” the study states.

According to one hypothesis, FP may be more common among species on the verge of extinction.

The American crocodile, Crocodylus acutus, is considered vulnerable and at risk of extinction in the wild.

The scientists who conducted the study said the “virgin birth” in Costa Rica could lead to new information about crocodile ancestors that walked the earth in the Triassic period some 250 million years ago.

“This discovery offers tantalizing insights into the possible reproductive capabilities of the extinct archosaurian relatives of crocodilians and birds, notably members of Pterosauria and Dinosauria,” the study said.

Culled from Aljazeera

NCC commences issuance of licences to mobile virtual network operators

The Nigerian Communications Commission (NCC) says it has begun the issuance of licences to mobile virtual network operators (MVNOs) in the country.

An MVNO is a company that does not own a mobile spectrum license but sells mobile services under its brand name using the network of a licensed mobile operator.

Mohammed Babajika, director, licensing and authorisation, NCC, spoke during a recent two-day stakeholders consultative forum ‘Talk-To-The Regulator’, held in Yenagoa, Bayelsa state.

He disclosed that the commission has finalised the framework for MVNOs and was currently in the process of licensing them.

Babajika said the licensing of MVNOs will improve the telecommunication output of the country, enable the expansion and availability of quality mobile coverage and close the gap between the unserved and underserved population in Nigeria.

“While the commission is fully committed to discharging its mandate, it can only achieve this with the cooperation and support of licencees,” Babajika said.

“The Commission, therefore, recognises the importance of various service providers and seeks to constantly engage with these service providers and thereby protect the health and growth of the telecoms industry.”

On his part, Umar Danbatta, executive vice chairman of NCC, said the commission was reviewing the scope and structure of its existing licences to make them more robust and to accommodate some of the identified new industry trends.

Danbatta was represented at the event by Usman Mamman, head, pre-licensing, NCC.

He said that NCC had taken measures to improve regulations to accommodate the rapid and continuous development to keep up to date with developments in the industry.

“To keep up to date with developments in the industry, the Commission has equally taken measures to improve regulations to accommodate the rapid and continuous development,” Danbatta said.

“Some of the interventions and responses of the Commission include but are not limited to: Facilitating the Roll-Out of 5G Service provision. Introduction of Mobile Virtual Network Operator, (MVNO) Licence to bridge the gap between unserved and underserved areas.”

Culled from The Cable

Update: Karim Benzema to leave Real Madrid

Real Madrid legend, Karim Benzema has decided to leave Real Madrid after 14 seasons, with Real Madrid releasing an official statement to that effect.

Real Madrid’s Benzema statement

Real Madrid and our captain Karim Benzema have agreed to bring to an end to his brilliant and unforgettable time as a player at our club,” read a club statement put out on Sunday.

Real Madrid would like to show its gratitude and affection to the man who is already one of our greatest legends.

Karim Benzema joined our club in 2009, at just 21 years of age, and has been a fundamental player in this golden era of our history.

“During the 14 seasons in which he has defended our badge and our shirt, he has won 25 titles, a record number for Real Madrid: five European Cups, five Club World Cups, four UEFA Super Cups, four LaLiga titles, three Copa del Rey titles and four Spanish Super Cups.

Karim Benzema is the current Ballon d’Or and UEFA Player of the Year, as well as being included in the FIFA FIFPRO XI and winning the Pichichi Trophy 2022.

“These awards were received after one of the most extraordinary seasons in our history, especially in the Champions League, in which our captain produced memorable performances that contributed to Real Madrid winning the 14th European Cup in Paris, while he was the top scorer of this competition with 15 goals.

Karim Benzema is the player who has worn our shirt the fifth-most times with 647 appearances, and is Real Madrid‘s second all-time top scorer with 353 goals.

“He is also Real Madrid‘s second all-time top scorer in both LaLiga and the European Cup. He is also the fourth top scorer in the history of the Champions League and the fourth top scorer in the history of LaLiga.

Karim Benzema‘s career at Real Madrid has been an example of behaviour and professionalism, and has represented the values of our club.

Karim Benzema has earned the right to decide his future.

“Madridistas and fans all around the world have enjoyed his magical and unique football, which has made him one of the great legends of our club and one of the great legends of world football.

Real Madrid is and always will be his home, and we wish him and all his family all the best in this new stage of his life.

“Next Tuesday, June 6, at 12:00 noon, an institutional act of homage and farewell to Karim Benzema will take place at Ciudad Real Madrid, with the presence of our president Florentino Perez.”

This Sunday’s home match against Athletic Club will be Benzema‘s final game for the club, as an era ends at Real Madrid.

Adapted from Marca

Ireland to kill 200,000 cows to fight climate change

In its efforts to reduce emissions from agriculture, Ireland is seeking to kill 200,000 cows in the next three years in order to meet climate target.

European governments have been targeting the agriculture industry for several years. Last month, the European Union approved a 1.6 billion Dutch plan to buy out livestock farmers in an effort to reduce nitrogen pollution.

The Biden Administration is making similar plans targeting American farmers. Special President Envoy For Climate John Kerry recently warned at a climate summit for the U.S. Department of Agriculture that the human race’s need to produce food to survive creates 33% of the world’s total greenhouse gasses.

Microsoft Billionaire Bill Gates also is obsessing about cattle emissions, providing financial support to companies that are developing seaweed supplements and gas masks for cows.

But farmer groups and activists are fighting back.

Katy Atkinson, an agricultural advocate who raises cattle in Albany County, told Cowboy State Daily that this conversation on emissions from the industry isn’t considering the beneficial impacts of cattle to the environment and the climate.

She said cattle contribute to drought resistance, soil health and wildfire reduction. Just before cattle were introduced to North America and the industry began raising them, Atkinson said there were thousands of buffalo roaming the plains.

Cows and buffalo are both ruminants, which is a type of animal that brings back food from its stomach and chews it again. These animals’ digestive systems produce methane emissions. Today’s cattle population is similar in numbers to that of the buffalo herds.

“So, the methane emissions from ruminant animals aren’t anything new,” Atkinson said.

Cattle also benefit plant life, Atkinson said.

“You need ruminant animals to forage grasses, because they’re the only things that can,” she explained.

Pigs, for example, are monogastric and can’t break down high fiber content in grasses. Cow’s digestive system can break the grasses down, and then they fertilize the ground.

So, through proper cattle grazing management, Atkinson said the cattle she’s raising are helping plants to grow.

In the atmosphere, the methane they burp out — most of it is released through the mouth of the animal — breaks down in 10 to 15 years into carbon dioxide and water. The plants that cattle help to grow use that carbon dioxide. The carbon then gets put back into the soil through the grasses’ roots.

“So the cattle are essential in helping to keep that carbon trapped in the ground,” Atkinson said.

Atkinson said cattle have other benefits to the climate that are being ignored in the focus on just their emissions. Whenever soil cracks or fissures, it releases carbon into the air.

The animals walking upon the soil compacts it and helps keep the carbon trapped in the soil.

She said one study done by the University of Florida found that between 10% and 30% of the world’s carbon storage is found under the feet of U.S. cattle.

Adapted from Cowboy State Daily

Turkiye’s Erdogan sworn-in as president

Earlier today, Erdogan took his third oath of office as Türkiye’s 12th president.

Türkiye went to the polls on May 28 for a presidential runoff after no candidate secured more than 50% of the vote needed for an outright victory in the first round on May 14.

Erdogan won the race with 52.18% of the vote, while opposition candidate Kemal Kilicdaroglu got 47.82%, according to official results.

Earlier, Erdogan’s Justice and Development (AK) Party and its allies also won a majority in parliament.

“I hope this lofty mission will be auspicious for my nation, to which I have devoted my life, to all parts of our heartland, and to humanity. I hope we will not disappoint our beloved nation that trusts me, our party, and our alliance,” Erdogan said.

The president added that he will not forget the outpouring of support he felt in Türkiye and surrounding regions on May 28.

“We will embrace all 85 million people (in the country), regardless of their political views, origins, or sect,” Erdogan pledged.

He said the nation’s 85 million citizens need to be joined together “like the bricks of a wall” as the country needs unity and solidarity now more than ever.

“Our nation, which a century ago completed their national struggle with the foundation of the republic, will crown the second century of the republic with the Century of Türkiye,” Erdogan said, promising to implement the vision step by step over the five years of his term in office.

“As we have been doing for the past 21 years, we will hopefully deliver upon our promises one by one,” he said, referring to the November 2002 elections, which swept his AK Party into office.

“We will save our democracy from the current constitution, which is a product of the (1980) coup, and strengthen it with a libertarian, civilian and inclusive one,” he further pledged.

“We will continue to develop our country through investment, employment, production, exports, and a current account surplus. We are determined to put Ghazi Mustafa Kemal’s (Ataturk) principle of ‘Peace at home, Peace in the world’ into practice in its true meaning,” he added.

Announcement of cabinet later tonight

“We will continue to weave together the Century of Türkiye with our new cabinet,” Erdogan said, adding he will announce its members later Saturday.

He also said the first cabinet meeting under his chairmanship will be take place on Tuesday.

Erdogan also vowed to work with devotion over the next five years to honor Türkiye.

“We promise to work with all our strength to protect the glory and honor of the Republic of Türkiye, to promote its reputation, and to glorify its name in the world for five years,” he added.

The ceremony was attended by high-level officials, including 50 heads of state, 13 prime ministers, parliamentary, and ministerial-level officials, and representatives of international organizations, including NATO, the Organization of Turkic States, and the Organization of Islamic Cooperation.

Among the attendees were Azerbaijani President Ilham Aliyev, Turkish Republic of Northern Cyprus President Ersin Tatar, Venezuelan President Nicolas Maduro, Pakistani Prime Minister Shehbaz Sharif, and Armenian Prime Minister Nikol Pashinyan.

Later, Erdogan will host his guests at a dinner at the Cankaya Palace.

Culled from Anadolu

Why we demolish illegal structures? – Kano governor

Following the controversies generated by the demolition of what it called “illegal structures” in the early hours of Saturday, Kano State Government has issued its first public comment on the demolition exercise.

In a press release Sanusi Bature Dawakin-Tofa who is the chief press secretary to Governor Abba Kabir Yusuf, he explained that the demolition was necessary in order to “ensure strict adherence on the urban planning, beautification and safety of people.”

Following his reelection in the highly contentious March 2023 election, Governor Yusuf courted controversy when he cautioned the general public against any last-minute purchase of government property from the outgoing Ganduje administration, warning that any such action is at the purchaser’s risk.

“These places are meant for public utilization, it is therefore, disheartening to witness the incessant destruction and conversion of public places that are used to render social services by unpatriotic citizens. We shall bring an end to land grabbing and indiscriminate erection of illegal structures in the state” – stated the press release.

The demolition exercise earned the new governor the Hausa sobriquet “Mai Rusau” which loosely translates as “The Demolitioner”, a title that was first attributed to former Kaduna governor Nasir El-Rufai for his well-publicized demolition exercise as Kaduna governor.

As Governor Yusuf promised to restore illegally acquired government property. It is not yet clear which building is next in his ongoing demolition exercise.

 

 

Nigeria’s fuel subsidy conundrum

The concept of subsidies is neither inherently bad nor undesirable. In fact, it is a policy tool that’s often deployed to redistribute wealth and correct market failures. There are many examples of energy and food subsidies even in advanced economies.

In the case of Nigeria’s fuel subsidy regime however, the reverse is the case. Fuel subsidy continues to become a huge drain on Nigeria’s finances, making them both unsustainable and unreasonable.

There’s a school of thought that thinks the problem is fuel subsidy corruption and not fuel subsidy in itself, that doing away with fuel subsidy is akin to throwing away the baby with the bath water, and that government should tackle the corruption in the oil and gas sector instead of removing subsidies altogether and shifting the burden to the poor.

I once subscribed to that school of thought and I wish it were that simple.

Nigeria’s daily average PMS consumption is around 30 – 33 million liters daily. Interestingly, the NNPC pay subsidy claims on about 90-95 million liters. Simply stating, an excess subsidy payment on about 60 million liters, almost double our actual daily consumption, is unaccounted for.

But here is the catch: the average PMS price in West Africa hovers around 500 – 600 naira per liter. That means as there’s huge incentives in taking Nigeria’s PMS at 199 naira per liter across the border to Cameron, Niger, Benin or Chad, where you stand to make between 250 – 350 per liter, bar other expenses.

This creates enough rents for our marketers to smuggle cheap Nigeria’s oil to our neighbors and make super profit. This also partly explains why we pay subsidy claims to over 90 million liters when our daily consumption is little above 30 million liters.

This burgeoning fuel subsidy pie keeps exerting significant pressure on our finances. For many months, the NNPC has was unable to contribute a kobo to the federation account because proceeds from crude oil sales go into paying subsidies, leaving a huge void in the federation account and affecting the abilities of the FG and States to meet their financial obligations.

Last year alone, the government spent over 7 trillion naira in subsidies. This year, another 3.36 trillion was budgeted for the first half of 2023. Simply speaking, in the name of fuel subsidy, Nigeria is hemorrhaging its way towards fiscal collapse.

The question is, how do we deal with that? Some may argue the NNPC should pay only subsidy on our actual consumption (30 – 35 million liters), but oil marketers would still smuggle out whatever little they get to make bigger profit, creating scarcity at home.

It is also impossible to stop fuel smuggling as we lack the resources (both human and technological) to police our borders effectively. In fact, it would create another layer of corruption in the form of high cost of enforcement. As long as there are huge incentives for rent-seeking, economic actors will go to any length to game the system. The US, with all its advancement, is still struggling to curtail drug smuggling across its border.

Make no mistake, fuel subsidies benefit the poor and its removal will have devastating consequences on poor people. The argument that it benefits the rich more than the poor is misleading because it mischievously ignores the per capita effect of fuel subsidy using the purchasing power of the two income groups.

A person on a 30,000 minimum wage consuming 20 liters per month still gains more through fuel subsidies (per purchasing power) than a rich man consuming 200 liters per month. Therefore, there’s equity justification for fuel subsidies as it is one of the only few ways that ordinary Nigerians directly benefit from the government even if the upper class gains more on aggregate.

The major dilemma in economic policy is the trade-off between equity and efficiency. Allowing subsidies to remain serve equity (by helping the poor with below market-rate energy cost) and harms efficiency (by increasing waste, corruption and fraud). The solution is, if the efficiency gain is greater than equity loss, then subsidy should go. Likewise, if the equity loss is greater than efficiency gain, then subsidies should remain.

The truth is, it is a lot harder than economics 101 because it touches on the foundations of politics, public trust and public interests. Ordinary Nigerians May understand the economic reasoning, but they don’t trust that the government would make honest use of the subsidy savings. They want to see the ruling class making similar sacrifices instead of always asking ordinary Nigerians to accept subsidy cuts, more taxes and other austerity measures.

Interestingly, all the 3 leading candidates (Tinubu, Atiku and Obi) have campaigned on the promise of subsidy removal. Nigerians minds have been prepared against subsidy removal. What has no been prepared is however Nigerian pockets. And here’s where I have problem with the drastic measure.

Government should lay out its plans for wage increase, some tax cuts, cuts in government overheads, investment in subsidised public transport, and other palliative measures that would help cushion some of the effects of subsidy removal.

Nigerians need to be told what to expect from the policy measure. How much are we going to save? How much is going to the FG and States, so that citizens can keep track of those promises and hold their elected leaders at both federal and state levels accountable.

Whichever way it goes, this is one bold policy move that’s going to define the Tinubu presidency.

Ahmed Musa Husaini writes from Abuja.