Business

OGUN: LOCAL GOVERNMENT ELECTION AND IGR By Michael-Azeez Ogunsiji

Published

9 years ago

June 23, 2016

Democracy in Nigeria today, is no longer peoples oriented as opined by the progenitors of this concept; rather, what we have now is AUTOCRACY where only the few enjoy the dividends through the workforce of the majority and amass wealth for their selfish interest and personal gain.

Few months back, there was much ado about the establishment of additional 37 LCDAs by Governor Ibikunle Amosun of Ogun State as the development was greeted with mixed reactions.

While many argued that, the establishment of such would only further impoverish the state owing to the fact that the existing 20 Local Government Authority were inadequately funded, government hinged its claim on bringing development to the grassroot.

Though, the intention of Governor Amosun was political, but of course, bringing government to the doorstep of the people will aid development, no doubt about that, our fear of the LCDAs is inadequate funding in this situation that the state government has taken over the Local Government account all in the name of Single Treasury Joint Account. I make bold to say that, such move was a ruse and will only hamper the activities of the Local government.

A local government is a local administration under which local communities are organized to maintain law and order. It is also defined as a non-self governing body set up by an act of Parliament, a decree, or by the Constitution to administer a territory or a political entity for the benefit of a stronger government which normally cannot or does not want to rule the area directly.

Local Governments have been described as “the strength of free nations” because of their effective control of Local affairs for the good of all.

Local Government in traditional Nigerian political systems was established through the instrumentalities of traditional authorities. These were Emirs, Obas, Chiefs, Age-grades and Council of elders. It was the societal interaction of these traditional political institutions that authoritative allocation of values were made for the society. With the advent of British colonial rule in Nigeria, the chieftaincy institutions were involved in the system of Local government called the indirect rule.

Indirect rule is a system of government in which the British ruled the people through traditional rulers according to the native laws and customs. When the indirect rule collapsed due to the Aba women riot in 1929, local government after the civil war underwent reforms in Nigeria.

The Eastern (East Central and South-eastern states) and Mid-Western states adopted a one-tier local government system called Divisional Councils. In the local divisions, emphasis was placed on decentralization, democratization, efficiency and effectiveness of the councils.

However, as the Federal military government prepared to hand over power to civilians, it reformed the local government system throughout the country in 1976. It recognized local governments as the third tier of government.

The 1976 reform was intended to stimulate democratic self-government and to encourage initiative and leadership potential and enshrine the principle of political responsibility. But today in Ogun State, Governor Ibikunle Amosun administration doesn’t give a damn to the existence of Local government authority.

Instead of empowering the 20 local governments with their respective allocations to effectively discharge its obligation to the people, the APC administration in Ogun State has crippled the LG with inadequate fund, but created additional 37 LCDAs to serve his selfish objectives.

With such inappropriate establishment, one begin to wonder how the governor will finance them considering the low income of Federal allocation for local government.

Even in the face of the global economy doldrums which Nigeria is not an exception to, definitely such effect will take its toll on federal allocation to State governments down to local government, that is why local government administrators have been constitutionally empowered to generate revenue to execute its projects.

Local governments in Nigeria derive their revenue from internally generated revenue, statutory allocation from states, constitutional allocation from the federal government account, grants, donations and advances from banks.

Part of the internally generated revenue of the local government include; rates imposed on the use of specific items whether individually or government owned. These rates include water rate, tenement rate, capitation rate and motorcycle rate.

Another means of generating fund by the local government to remain independent is motor Park and stallage fees. Others include, registration of births, marriages, deaths and house numbering. But today, Governor Amosun in his megalomania style of leadership overthrew the responsibility of the local government and rendered them stagnant and under performing

The motor Park fees is now being collected by the governor’s political thug, Mr. Akeem Adeosun a.k.a Jango, while house numbering and signages fee collection is now being handled by a private agency connected to the governor.

Little wonder the rural settlers are deprived of the basic amenities expected from the local government such as, road maintenance, refuse clearing, provision of portable water like borehole, environmental sanitation, public enlightenment on new government policies, provision of health facilities, job creation, provision of primary education among others.

Infact, allocation from both federal government account and state government as approved by the State House of Assembly are now allegedly being controlled by Mr. Governor himself.

Though, one valid claim from one of the Governor’s aides was that, there were allegations and counter allegations on the local government leadership ranging from financial misappropriation, under performance and financial embezzlement, but one critical question the good people of Ogun State should ask Mr. Governor or any of his spokespersons is that, why is it that the Federal government has not taken over the affairs of the state despite allegations of corruption, misplaced priority projects? Why is Ogun State Government taking over LG activities in Ogun?

Another heart pondering issue on the shredded part of the LG is the issue of local government elections. One of the basic features of the 1976 local government reform in Nigeria is tenure of office.

The local government councilors are to be elected on a three-year basis. The normal life of a local government Council is also three years, although, the governor of a state could order the dissolution of the council if found incapable of discharging its functions effectively. The Governor may appoint a caretaker committee pending a fresh election. But after one year in office and the dissolution of the local government caretaker committee across the 20 functional Council areas, no plan as it is by the state government to conduct an election into the council areas.

The Governor’s decision of not conducting local government election in the state maybe connected to public outcry over the failed promises and hardship inflicted on the people by the APC government in the state, hence, the fear of losing the council areas to oppositions in the state remain the beginning of wisdom for the governor.

However, the constitution remains the grundnom for governance in Nigeria, and many informed political analysts are of the opinion that the Governor Ibikunle Amosu led regime cannot afford to run foul of constitutional provisions on tenure of caretaker executives at the local government and as such must prepare to hold elections soonest in consonance with extant constitutional provisions.

Business

Why You Should Visit EMERALD GARDEN 🍃 SANCTUARY in Pretoria

Published

2 days ago

March 5, 2025

Sahara Weekly

Why You Should Visit EMERALD GARDEN 🍃 SANCTUARY in Pretoria

Looking for the ultimate relaxation experience? Emerald Garden 🍃 Sanctuary offers a peaceful escape in the heart of Pretoria, where your body, mind, and soul can be rejuvenated. With a serene garden setting and a massage studio, you can enjoy treatments that soothe aches, relieve stress, and promote overall wellness.

🌿 A Massage for Every Need

From gentle Swedish massages (starting at R280 for 30 minutes) to intense Deep Tissue therapy (add R100 to Swedish rates), Emerald Garden ensures you get the pressure you need. Prefer something even more indulgent? Try a Hot Stone Massage (R500 for 60 mins) or the deeply relaxing Indian Head Massage (R300 for 30 mins).

👣 Holistic Healing for Body & Soul

Reflexology: Treat your feet and improve circulation with sessions starting at R200.

Reiki Healing: Balance your energy and reduce stress (R380 for 60 mins).

Crystal & Gemstone Energy Bodywork: A powerful 90-minute session (R700), with an optional Reiki add-on.

💦 Detox & Refresh in the Steam Room

Enhance your massage with a steam session (starting at R250 for 30 mins). Perfect for detoxing and relaxing muscles before or after a treatment. Just remember—book in advance, as it takes an hour to heat up!

🕯️ Unique Experiences for Deep Relaxation

Tantric Massage (120 mins @ R1450) for deep connection and healing.

Nurturing Touch Massage in a tranquil garden setting with a water feature (R300–R700, depending on duration).

Pedicure with foot spa & massage (R400 for 60 mins).

🦜 Flexible Hours for Your Convenience

Open daily from 9:00 to 20:00.

Early bird sessions available—just arrange in advance!

Book your session now with Daniëla 🙌🪶 at 078 317 2539 and let Emerald Garden 🍃 Sanctuary transport you to a world of relaxation and healing!

Business

NNPC Reduces Petrol Pump Price to Match Dangote Refinery Amidst Market Competition

Published

3 days ago

March 4, 2025

Sahara Weekly

NNPC Reduces Petrol Pump Price to Match Dangote Refinery Amidst Market Competition

The Nigerian National Petroleum Company Limited (NNPC) has reduced the pump prices of Premium Motor Spirit (PMS) at its retail outlets to align with the rates set by the Dangote Petroleum Refinery, signaling a new wave of competition in the downstream sector.

Our correspondents confirmed that NNPC-owned retail stations in Lagos adjusted their petrol price to N860 per litre on Monday, a significant reduction from the N945 per litre charged the previous day. This price adjustment follows Dangote Refinery’s decision to reduce its ex-depot price from N890 to N825 per litre, which in turn brought the pump price at MRS filling stations to N860 per litre.

Although NNPC Retail has yet to issue an official statement regarding the price reduction, stations in Lagos confirmed the adjustment. NNPC spokesperson Olufemi Soneye neither responded to calls nor messages regarding the development.

The National Vice President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Hammed Fashola, confirmed the price change, stating, “It is true, NNPC is selling petrol at N860 in the filling stations. Though this has not been reflected on the portal, they told me they are working on updating it.”

Similarly, Billy Gillis-Harry, the National President of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), affirmed the development but mentioned that he was yet to receive full details.

Since December 2024, the Dangote refinery has led price adjustments in the Nigerian fuel market, frequently revising its rates based on market dynamics. Observers note that NNPC has been reactive to these changes, lowering its own prices whenever Dangote introduces a reduction.

Shift in Consumer Preferences

It has been observed that fuel queues, once common at NNPC stations, have now shifted to private retail stations such as MRS. This trend is attributed to the perception that Dangote-refined petrol lasts longer in fuel tanks compared to others.

A recent report by Energy Intelligence highlighted how the 650,000 barrels per day Dangote refinery has transformed Nigeria’s petroleum market. The report stated, “The refinery has broken state-owned NNPC’s tight monopoly on refining and products marketing in Nigeria and has structurally shifted Atlantic Basin gasoline balances, pressuring European margins.”

Currently, the Dangote refinery and the NNPC’s Port Harcourt refinery are the only active petrol producers in Nigeria. However, NNPC has clarified that it still procures petrol from Dangote Refinery for its Lagos stations and has not imported fuel this year but remains open to doing so if necessary.

Concerns Over Market Competition

While stakeholders have welcomed the price competition between Dangote and NNPC, concerns remain about the long-term implications. The IPMAN Vice President, Hammed Fashola, described the ongoing price war as beneficial to consumers but warned against monopolistic tactics.

“It’s a good development. I just hope they can sustain it. I pray it will not be a strategy to eliminate competitors. If sustained, it will ease the hardship in the country and benefit everyone,” Fashola remarked.

In a surprising move, Dangote Refinery also announced a refund of N65 per litre for marketers who had purchased PMS at higher rates before the latest reduction. This is aimed at addressing complaints from marketers affected by the sudden price drop.

Fashola acknowledged this effort but noted that not all marketers may benefit. “Those who paid but have not lifted their products will be captured and reimbursed. However, some who bought the product earlier and still have it in their tanks may not be covered,” he said.

Abuja and Other Cities See Price Adjustments

In Abuja, NNPC stations reduced petrol prices to N880 per litre, a drop from the N965 per litre recorded last week. At an NNPC retail outlet in Federal Housing, Kubwa, a pump attendant confirmed the price change, stating that the adjustment took effect on Monday afternoon.

However, independent marketers have struggled to implement price reductions. Many stations along Airport Road, Jabi, and Wuse have either maintained their former prices or made only slight adjustments.

A.A Rano (Airport Road) reduced its price to N945 per litre from N970 per litre.
Shema (opposite Dunamis Church) continued selling at N960 per litre.
Bovas (Airport Road) remained at N970 per litre.
Mobil (Jabi) adjusted to N960 per litre.
Conoil (Jabi) sold at N950 per litre.

Bank

Citigroup’s $81 Trillion Blunder: The Banking Error of the Century!

Published

6 days ago

March 1, 2025

Sahara Weekly

Citigroup’s $81 Trillion Blunder: The Banking Error of the Century!

In a jaw-dropping financial mishap, Citigroup mistakenly credited a mind-blowing $81 trillion—yes, TRILLION—to a customer’s account instead of the intended $280, in what could be one of the largest transaction errors in banking history.

According to a report by the Financial Times, the stunning blunder occurred in April 2024 and shockingly slipped past two separate employees before getting the green light for processing. It wasn’t until an hour and a half after the transaction was approved that a third worker caught the error—setting off a frantic reversal operation that took several hours to complete.

A Near-Miss of Epic Proportions

Though no actual funds left Citigroup’s vaults, the error was serious enough to be flagged to U.S. financial regulators, including the Federal Reserve and the Office of the Comptroller of the Currency.

“Despite the fact that a payment of this size could not actually have been executed, our detective controls promptly identified the inputting error between two Citi ledger accounts, and we reversed the entry,” a Citi spokesperson explained in an emailed statement.

The blunder did not financially impact the customer or the bank, but it sheds light on Citi’s ongoing struggles with internal controls. The FT report revealed that the bank recorded 10 ‘near-miss’ transactions of $1 billion or more in 2024 alone, a slight improvement from 13 major errors in 2023.

A Costly Pattern?

Citigroup is no stranger to high-profile transaction errors. In 2020, the bank infamously wired $900 million by mistake to creditors of Revlon, sparking a lengthy legal battle. While the $81 trillion error was caught before any funds could be moved, it underscores the potentially catastrophic risks lurking in the world of high-speed digital banking.

With regulators closely watching, the pressure is on for Citi to tighten its financial controls—before the next error turns into an irreversible disaster.