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@toluogunlesi

Aug 5

Onitsha River Port has finally been concessioned. FEC approved the concession in Feb 2022, and on June 30, 2022, the concession contract was signed, in Abuja (“commercial close”).

Next step is financial close, and then formal commencement of the 30-year concession.

#Thread

Concessionaire: Universal Elysium Consortium, led by Dr. George Nwangwu, lawyer, academic & expert on infra regulation & privatization

Concession model: Rehabilitate, Operate & Transfer (ROT)

Concession Period: 30 years

Onitsha Port: >12 Ha land; 324m wharf, expandable by 234m

You know why Onitsha River Port is so important ie why it has so much potential?

According to National Inland Waterways Authority (NIWA), 60% of the containers that arrive Nigeria through Tincan, Apapa & Onne Ports end up in the South East.

They mostly travel by road (trailers)

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tolu ogunlesi

@toluogunlesi

Aug 3

The ways of bilateral diplomacy. Nigeria assists less-well-off countries, just as we’re also assisted by other countries. A given. Nigerians of course have the right to ask questions, just as citizens of other countries query their aid budgets (in face of pressing local problems)

As I said, public reaction to this is understandable. Doesn’t mean if Benin/Chad requests this kind of support tomorrow, we won’t give them. It is what it is. Not sure there’s any country where citizens unanimously support the idea of giving foreign aid—when local needs abound.

The thinking is simple: our neighbors need help, and ask for it, we will assess it and ‘let me see what I can do’ it. Every government faces those situations, and tries to do something. We also benefit from significant amounts of support from other countries. It is what it is.

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tolu ogunlesi

@toluogunlesi

Aug 2

Do you know her?

She is Blessing Oborududu, the most successful Nigerian female wrestler OF ALL TIME. Winner in 2021 of Nigeria’s first (& only!) Olympic medal in Wrestling—a Silver.

Here’s the story of the person who discovered her, and helped nurture her into a world champ.

The story starts in the 1990s.

Daniel Baraladei Igali, that’s the name.

He was a Nigerian and African wrestling champion in the early 1990s.

During the 1994 Commonwealth Games in Victoria, B.C., Canada, Igali, representing Nigeria, decided to stay back and seek refuge in Canada, on account of the tumult back home (this was shortly after the annulment of the June 12 elections, and the ensuing crises).

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tolu ogunlesi

@toluogunlesi

Aug 2

@ndlea_nigeria

Nigeria’s @ndlea_nigeria last week busted a Meth Lab in Victoria Garden City (VGC), Lagos, seizing 258kg of crystal meth and other chemicals. Lab producing 50kg of Meth weekly. Lab Owner, Chris Emeka Nzewi, lived on the premises with his family, including a 3-month old.

@ndlea_nigeria

“Aside from the laboratory being close to the kitchen of the main house, the waste from the laboratory was channelled into the septic tank and soakaway in the compound, with a high risk of contamination of the water table of the entire neighbourhood [VGC].” — @ndlea_nigeria

@ndlea_nigeria

“It is very important to note that the waste from methamphetamine production is dangerous to the ecosystem. The chemicals are toxic and once they seep into the soil, they contaminate the water table from which surrounding wells and boreholes draw their water.” — @ndlea_nigeria

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tolu ogunlesi

@toluogunlesi

Jul 24

I think Nigeria’s Federal revenues can & will grow. So many big-ticket public& private investments ongoing that will GROW revenue: NLNG Train 7, Nig-Morocco Gas Pipeline,new Lagos DeepSea Port,Marginal Field Round,etc. Had previous Govts done these,we’d be enjoying results today.

Keep in mind that between 2010–2015, a period in which Nigeria consistently enjoyed the highest oil prices in history, not 1 tonne of extra capacity was added to our LNG production. It’s Buhari that has taken Train 7 to financial close. That’ll be 8 MILLION extra Tonnes per annum

There are the things a government does for today, and the things that are done for tomorrow (planting acorns). Had Train 7 and maybe even 8 been done before now, we’d be doing 9 and maybe 10 today. Had 2 or 3 new SeaPorts been built 1999-2015, we’d be talking of a 4th/5th today.

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tolu ogunlesi

@toluogunlesi

Jul 24

Babatunde Raji Fashola 🔥🔥🔥

BRF spitting facts and context. He's also asking for a higher quality of discourse and debate about national issues. E.g, on debt:
"Public finance is not home economics. The challenges and variables are different. We must leave this home-economics mentality behind."

BRF: The Central Bank doesn't print dollars. When there's an over-demand, basic economics tells you price will go up. If we earn more dollars, the price goes down.

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