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Oct 5 LG Polls Sacrosanct, Fubara Declares

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Rivers State Governor, Sir Siminalayi Fubara, has declared that the October 5 Local Government election in the State is sacrosanct, saying no amount of propaganda will stop the election.
He said his conviction stems from the Supreme Court judgment that all states in the federation should have democratically elected local government executives, Mr. President’s 90 days window to states to comply with the Supreme Court ruling, and the substantive judgment by the Rivers State High Court that mandates the Rivers State Independent Electoral Commission (RSIEC) to conduct the election.
Governor Fubara made the declaration when members of the Rivers State Inter-Party Advisory Council (IPAC) led by its Chairman, Solsuema Osaro paid him a courtesy visit at Government House, Port Harcourt on Wednesday.
The Governor, who expressed concern why people who earlier ascribed to the fact that parties are only a vehicle that convey people to positions of leadership and boosted to win all elective positions in the 23 local government areas if elections are conducted, are now scared to participate in the slated polls.
He assured that any attempt by anybody or group of people to disrupt the democratic process that is genuinely pursued in the State will be fought by the gods of the land.
“I am really happy that the Chairman, IPAC has said a few things. But, the records need to be properly presented to the public. There is no going back on the election come the 5th of October. There is no amount of propaganda, be it from the Judiciary end, be it from the law enforcement end …, that election would hold.
“What is the reason: first the Supreme Court has ruled that every state must migrate to elected local government executives. Among the states affected, 10 of these states have already held their elections, and if I am not mistaken, I stand to be corrected. They used the 2023 voters register. Outside that, Mr. President, after the Supreme Court ruling, gave a window of 90 days when we went as governors to meet him, ensure that all the processes are completed.
“The issue of the court cases here and there, I can tell you, it is not an issue to stop the election. There is a substantive judgment giving the RSIEC all powers to ensure that election holds. And we are standing by that judgment to support RSIEC for the election.
“Also, I don’t know why people are scared. I used to hear them say before that party is just a vehicle. If party is just a vehicle, and today, not even my party, other parties are contesting election, and I try to be a referee, why are they restless. If you feel you are strong, through your heart into the ring. Why do you need to stop the process? Does it show any sign of sportsmanship? Does it show any sign that you love this State? A situation where this State will be the State that will be suspended, the activities of the civil servants will be suspended, local government workers will not earn their salaries again because you want to prove that you have some dirty power?”
“So, don’t be scared when you hear one party factional chairman will just sit somewhere and announce that he will not be part of the election for whatever reason. Even that factional chairman, some months ago was bragging, saying: what is the reason holding the Governor from conducting the election? That if he comes and conducts this election, he is going to win all the 23 local government areas.
“This world is so beautiful today. What we say here, the record will be there for the world to see. Bring that video and send it to him when he said the 23 local governments he is going to win. So, what has changed? We are conducting election now, you are the same person going to cry, you don’t want to participate in the election?
“So, any attempt by anybody or group of people to see that this process is disrupted, I can assure you, the gods of this land, what we stand for as a people who are fighting for genuine democracy will fight for us.”
Governor Fubara hinted of intelligence that mercenaries have been engaged within and outside the State to obstruct the elections, warning that such mercenaries will be adequately resisted.
The Governor assured that with God on the side of the State, and necessary information provided to relevant authorities involved in the election, the election will hold, results declared and elected officers sworn-in to discharge their responsibilities to the people at the grassroots.
He said, “I will also mention here: we are also aware that some mercenaries are being engaged within and outside the State. I feel sorry for whoever is going to be a victim of such thing. Because I know anybody who comes to obstruct this election will meet adequate and right resistance. It’s important that we defend this democracy, and we must start defending this democracy from the one that we have control over.
“But whichever way, I can assure you, God on our side, with the information we have given to the security agencies, the information we have given to all the authorities that are concerned, and are also needed in cause of this process, this election will hold, results will be declared, and the elected officers will be inaugurated, and a new government will commence as soon as possible.”
He assured to make the election process free and fair, and protect lives and property in the course of the election.
He added, “I can assure you, we took an oath before everyone of you. I swore before everyone that I will defend and protect the interest of Rivers State. And this particular responsibility, ensuring that this election holds is one of those responsibilities.
“You have all prepared for the election. We are going to make sure the process will be free and fair. As the umpire, we will also ensure that lives and property will be protected in the course of the election. What we request from you is go and perform your civic responsibility. Vote, support the candidates of your choice. Ensure that we take control of the democracy of our State. Ensure that you vote for the protection of lives and property of the people of this State. The State starts from the ward to the LGA, and from the LGA to the State. So, I want this State to be protected right from the point of the ward.
“You have my total support. I will ensure as the Governor and the Head of this Government, that we do all that is required, all that is needed to make sure that this process is driven to the end.”
Earlier in his remarks, the Rivers State Chairman of the Inter-Party Advisory Council (IPAC), Solsuema Osaro, reiterated their position to participate in the election as well as support the government to drive the process to logical conclusion.
Osaro noted the plans by some persons to stall the electoral process and the court judgments warranting RSIEC to conduct the elections, promising to stand by RSIEC to conduct free, fair and transparent election that will stand the test of time in the nation.
He added, “Your Excellency, it is at a moment like this in the history of our State that patriotism is well defined. The members of the Inter-Party Advisory Council (IPAC), Rivers State Council, have come in here today to visit you and to assure you that because of all the empirical activities and people- oriented programmes you have established, you’ve embarked upon, you are doing in Rivers State, and especially because of the most important election that affects the generality of the people in the State, the grassroots people, the election that has to do with the conduct and exercise that will bring in elected local government chairmen and councillors across the 23 LGAs and the 319 wards in Rivers State, that informed why we have come to see you, Your Excellency.
“It is true that some persons have attempted and are tempting to disrupt the entire exercise, but we have come to show you that we are standing tall with you in your quest to give us elected local government chairmen and councillors in Rivers State.
“We are well informed of the fact that some persons went to court to stop INEC from giving RSIEC the necessary voters register to conduct this election that is slated for 5th of October, 2024. We also are very much aware too that a competent court of jurisdiction sitting here in Rivers State has also given RSIEC the authority, the mandate to conduct this election, and has also mandated RSIEC to use the 2023 voters register to conduct this election in Rivers State.
“As the pillars of democracy, as the vehicles through which elected officers are driven into various positions, the political parties have arisen to say that we stand in solidarity with the desire of the state government and that of the Rivers State Independent Electoral Commission (RSIEC) to conduct free, fair, transparent election in Rivers State that will stand Rivers State out in the comity of nations as a model state.
“We are quite aware that on the 11th of July, 2024, the highest court of the land, being the Supreme Court of Nigeria, gave a judgment that is to the fact that every state in Nigeria must have elected local government officials in the country. This Rivers State is not an exception. We are, therefore, standing on the judgment of the Supreme Court as well as the judgment delivered by Justice I. P. C. Igwe of the Rivers State High Court to say that the Inter-Party Advisory Council (IPAC), our members are prepared, are ready, willing to participate in this election.
“As patriotic citizens of Rivers State, we know all you have done and all you are doing to ensure that we have good governance in Rivers State, and if at this point in time, some detractors don’t want us to succeed, we have made it very clear that all of us that believe in the ideals of good Rivers State, purposeful leadership-driven Rivers State under your administration, we stand tall with you to ensure that we succeed.”
According to him, “The success of this election is to the benefit of Rivers people. The success of this election will allow Rivers people have the government at the grassroots that will empower the people, and whoever intends through covert or covert means, to stop this democratic process that is very important to Rivers people, we have arisen in one voice, one strength, one energy, to say we will stand for an ideal Rivers State were local government election will be conducted and elected officers will emerge through free, fair and transparent election that once again stand Rivers State out as a model state in Nigeria,” he added.
Eighteen out of the 19 registered political parties were represented at the meeting, including AA, AAC, ACCORD, ADC, ADP, APGA, APC, BOOT, LP, NCP, NNPP, APM, NRM, PRP, SDP, YP, YPP, and ZLP.

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EFCC Arrests 33 Suspected Internet Fraudsters In PH

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Operatives of the Port Harcourt Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) have arrested 33 suspected internet fraudsters in Rivers State.
The Spokesperson for the commission, Dele Oyewale, said this in a statement in Abuja, last Wednesday.
Oyewale said they were arrested in their hideouts in Iwofe and Ogbogoro areas of Port Harcourt in a sting operation, based on credible intelligence on their suspected involvement in internet fraud.
“Items recovered from the suspects include various mobile phone devices, laptops, boxes of fake United States Dollar and fake Federal Bureau of Investigation (FBI) stamps.
“Others are fake Customs stamps, airport clearance stamps, DHL and FedEx stamps and two cars.
“The suspects would be charged to court upon conclusion of investigations,” he said

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UK Plans To Reuse Old Graves, Reopen Full Graveyards

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Old graves could be reused under new recommendations put forward to manage the shortage of burial space in Britain.
Under the proposed changes put forward by the Law Commission, graveyards declared “full’’ during the Victorian era could also be reopened.
The commission has warned the urban areas across England and Wales of fast running out of burial space.
There have been proposed changes to allow any burial ground to reuse graves, but only following public consultation and government approval.
Safeguards would also be in place for each individual grave, with plots only eligible for reuse when the last person was buried at least 75 years ago.
Another separate public consultation is considering the time frames around grave reuse, and what would happen if family members objected.
Prof. Nick Hopkins, commissioner for property, family and trust law, said any change would need to be tackled in consultation with the public.
“Our proposals provide a significant opportunity to reform burial and cremation law and secure burial space for future generations.
“This must be done sensitively and with wider public support,” he said.
Current legislation made it illegal to redevelop a graveyard for any reason other than to grow a place of worship.
Other publicly-run cemeteries can be redeveloped if the owner was granted an Act of Parliament.
Alex Davies-Jones, parliamentary under-secretary of state at the Ministry of Justice, said the government was supportive of the Law Commission’s work.
“We await with interest the Law Commission’s recommendations, in due course, on the most appropriate framework to provide modern, consistent regulation for burial and cremation,” she said.
Public consultation on the proposed changes is open until January 2025.

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Crude-For-Loans: NNPCL Votes 8m Barrels Monthly For $8.8bn Debt

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The Nigerian National Petroleum Company Limited has pledged 272,500 barrels per day of crude oil through a series of crude-for-loan deals totalling $8.86bn.
By pledging 272,500 barrels daily, it means that about 8.17 million barrels of crude will be used for different loan deals by the national oil firm on a monthly basis.
This is according to an analysis of a report by the Nigeria Extractive Industries Transparency Initiative and the NNPC’s financial statements.
Under these deals, notable projects include Project Panther, Project Bison, Project Eagle Export Funding (Original, Subsequent, and Subsequent 2 Debts), Project Yield, and Project Gazelle.
According to The Tide’s source, NNPC has already fully repaid $2.61bn in loans, representing 29.4 per cent of the total credit facility, while $6.25bn or 70.6 per cent, remains outstanding.
Also, out of the $8.86bn credit facility, only about $6.97bn has been received from seven crude-for-loan deals.
One of the key projects, Project Panther, involves a joint venture between NNPC and Chevron Nigeria Limited, backed by international and local banks.
The project secured a $1.4bn loan facility, with 23,500bpd pledged to service the debt. Repayment is set to commence after a moratorium, with financing terms including an SOFR (Secured Overnight Financing Rate) plus 5.5 per cent margin and a liquidity premium.
Another significant deal is Project Bison, tied to NNPC’s attempt to acquire a 20 per cent equity stake in the Dangote refinery. However, the national oil company only acquired a 7.25 per cent stake.
The project secured a $1.04bn loan from Afrexim Bank, with 35,000 bpd pledged as collateral. NNPC fully repaid this loan in June 2024.
Project Eagle Export Funding comprises three separate loans aimed at meeting various financial obligations.
The original loan, secured in 2020 for $935m, was serviced with 30,000 bpd and was fully repaid by September 2023.
A subsequent loan of $635m was also fully repaid by the same period. The third tranche, known as Project Eagle Export Funding Subsequent 2 Debt, was secured in 2023 for $900m, with 21,000 bpd pledged. Repayment is scheduled to begin in June 2024, and the loan will mature in 2028.
Project Yield, designed to support the Port Harcourt Refining Company, involves a $950m loan, with 67,000 bpd pledged for repayment.
The repayment of the loan, secured in 2022, will begin in December. This seven-year facility is crucial to refurbishing the refinery and enhancing domestic refining capacity.
However, despite this crude-for-loan arrangement, The Tide reports that fuel production at the Port Harcourt refinery has yet to commence, despite multiple postponements as of August. Promises from the Federal Ministry of Petroleum Resources and NNPC have repeatedly fallen through.
More recently, there was the Project Gazelle deal, which aimed to stabilise Nigeria’s foreign exchange market.
In December 2023, NNPC secured a $3bn forward sale agreement, pledging 90,000bpd from Production Sharing Contract assets to cover future tax and royalty obligations.
As of the end of 2023, $2.25bn had been drawn from this facility, with repayments scheduled to begin by mid-2024.
These crude-for-loan deals come at a time when Nigeria is struggling to boost its oil production.
The NEITI 2022-2023 report revealed a significant decline in crude oil output, reaching the lowest levels in a decade. In 2022, the country produced 490.94 million barrels of crude oil, a steep drop from the peak of 798.54 million barrels in 2014.
Although production slightly improved to 537.57 million barrels in 2023, this still represents only 67.16 per cent of the country’s peak production capacity.
One of the major challenges facing the sector is production deferment. In 2023, Nigeria deferred 110.66 million barrels of crude oil, down from 153.44 million barrels in 2022.
The deferment was primarily due to unscheduled maintenance, repair issues, and oil theft.
Despite government efforts to curb these issues, including initiatives to reduce theft and sabotage, operational inefficiencies persist.
NEITI reported that oil theft and sabotage resulted in the loss of 5.25 million barrels in 2023, exacerbating production struggles.
The House of Representatives Special Joint Committee recently directed NNPC to halt further crude-for-loan agreements.
This directive follows reports that the company is planning to borrow an additional $2bn in oil-backed loans amid efforts to settle a $6bn backlog owed to international oil traders, particularly following the removal of fuel subsidy.
The Tide’s source reported that the NNPC was in talks for another oil-backed loan to boost its finances and allow investment in its business, according to the Group Chief Executive Officer, NNPC, Mele Kyari.
Kyari said the company wanted the new loan against 30,000-35,000 barrels per day of crude production, though he declined to say how much money it sought.
Nigeria’s government finances rely on oil the NNPC exports, which provides the bulk of crucial foreign exchange reserves. However, pipeline theft and years of underinvestment have sapped oil production in recent years, and the cost of fuel subsidies has further depleted cash reserves.
President Bola Tinubu has been struggling to implement reforms in Africa’s biggest oil exporter – including eliminating fuel subsidies and allowing the naira currency to trade close to market levels – without putting the country’s population at a cost-of-living breaking point.
It explained at the time that the oil company would use the loan to support the Federal Government in stabilising Nigeria’s exchange rate.
The facility, among other things, would help the Federal Government attend to some of its dollar obligations, assist the Central Bank of Nigeria in stabilising the foreign exchange market, and provide funding for NNPC.
Providing details about the deal in the document titled, “Everything you need to know about the NNPC Limited’s $3.3bn loan, also known as Project Gazelle,” NNPC said, “This is a financing agreement secured by NNPC Limited to prepay future royalties and taxes to the Federal Government.”
The company also stated that it adopted a lower price benchmark for the $3.3bn crude-for-cash loan to reduce the risk of default and ensure financial stability.
Giving details on the benchmark oil price, the company said the facility used a conservative crude price of $65/barrel to calculate the allocated crude to be produced and sold.
NNPC also said repayments were strategically planned and tied to future oil sales, with conservative pricing in oil sales contracts mitigating the risks associated with oil price volatility.

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