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BREAKING:

President @MBuhari has approved the naming of some railway stations along the Lagos-Ibadan and the Itakpe-Ajaokuta-Warri corridors after deserving Nigerian citizens. — HM @ChibuikeAmaechi

#Thread
Bola Ahmed Tinubu @AsiwajuTinubu (Apapa station)

The late Mobolaji Johnson (Ebute Metta Station)

Babatunde Raji Fashola @tundefashola (Agege station)

Lateef Jakande (Agbado station)

Vice President @ProfOsinbajo (Kajola station

Funmilayo Ransome-Kuti (Papalanto station)
Wole Soyinka (Abeokuta station)

Segun Osoba (Olodo station)

Ladoka Akintola (Omio-Adio station)

Obafemi Awolowo (Ibadan station)

Alex Ekwueme (Operations Control Centre).

Full list of names on @NigeriaGov
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tolu ogunlesi
@toluogunlesi
On this Webinar, SLS on it. Great convo. Says, “I do have a lot of sympathy for the CBN, a lot of the shocks CBN is dealing with, it doesn’t have any control over.” (ie oil prices;global shocks). Also argues convergence & meeting FX demand of portfolio investors cannot be rushed. Image
SLS, on the many pressures on Nigeria’s FX reserves: In 2019, Nigerians spent 10 billion dollars every quarter importing services; and 3 billion dollars per quarter on foreign travel alone.
SLS on this webinar: “Why does Nigeria need to import leather products, Petroleum products, rice, Maize, we do not need to spend billions and billions of dollars on these things.”
Read 5 tweets
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tolu ogunlesi
@toluogunlesi
Nigeria’s National Gas Grid:

ELPS - East-West line from Escravos in Delta—Egbin in Lagos (connects in Lagos to West African Gas Pipeline)

ELPS2; under construction

OB3: East-West line (Rivers—Edo); under construction

AKK: South-North line; under construction (kicked-off 2020)
Nigeria’s most significant gas reserves are in the Eastern Niger Delta, but the bulk of demand - for industrial and power generation uses - lies to the West of the country. Hence ELPS, ELPS2 and OB3. AKK on its own part being built to open up markets in the Northern corridor.
AKK is the first Phase of the planned Trans-Nigerian Gas Pipeline project (TNGP). Sections include:

1. AKK (Ajaokuta—Abuja—Kaduna—Kano section

2. Qua Iboe Terminal (QIT) — Cawthorne Channel/Alakiri via Obigbo Node.

3. Obigbo—Umuahia—Enugu—Ajaokuta

4. Obigbo—OB3 pipeline
Read 3 tweets
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tolu ogunlesi
@toluogunlesi
The misconceptions about #PAGMI, and about solid minerals mining and fiscals in Nigeria need to be addressed. Some of it is driven by ignorance, which is fine, nobody knows everything. As for the elements that are driven by bigotry and mischief - unacceptable!

A thread:
The basic principles applying to oil and gas in Nigeria similarly apply to solid minerals:

a. Both belong to the Exclusive List

b. All revenues accruing go into the Federation Account, which belongs to the three tiers of Government.

c. 13% Derivation Principle
Mining revenues, including from gold, also go into Federation Account. And solid minerals-producing States also get 13% derivation. Unlike oil and gas that has 9 producing States, solid minerals are far more widely distributed: 36 States and the FCT.
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