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Tag: Bayo Onanuga

  • Why NNPCL can’t continue paying petrol price differential without going bankrupt, says Onanuga

    Why NNPCL can’t continue paying petrol price differential without going bankrupt, says Onanuga

    Bayo Onanuga, Special Adviser on Information and Strategy to President Bola Tinubu, has revealed that  the Nigerian National Petroleum Company Limited (NNPCL) Limited admitted to having financial constraints because it can no longer subsidise petrol.

    Onanugu said  this in a post on X on Tuesday.

    According to him, if the NNPCL continues to pay the difference between the landing cost and petrol price, the national oil company will go bankrupt.

    Onanuga said NNPC’s debt was a result of the company’s efforts to absorb rising petrol costs and protect Nigerian consumers, rather than any government deception.

    “NNPC cried out recently because it can no longer sustain the price differential on its balance sheet without becoming insolvent,” he said.

    “The situation has greater implications for the ability of the three tiers of government to function as the NNPC has failed to pay into the Federation Account, the money that should go to the government.

    “There are no easy choices. Something must be done to make NNPC survive and keep the engines of government running and petrol flowing at the pumps.

    “That is the scenario that is unfolding, and the game changer and big relief giver may well be the Dangote refinery and other local refineries, which will become the fuel suppliers to the local market.

    “When Dangote Refinery and other refineries, including government-owned Port Harcourt Refinery, come fully on stream, our country and economy will benefit on all fronts. There will be many good paying jobs that will be created along the value chain.”

    According to Onanuga, there will also be a drop in the huge demand for foreign exchange to import petroleum products.

    Tinubu government did not lie about fuel subsidies

    I have read a series of articles attacking the Federal Government for not telling the truth about fuel subsidy payments, following NNPC Limited’s admittance it was owing suppliers some $6 billion.”

    Earlier, the NNPCL increased the price of petrol to N855 per litre, but the landing cost of the Premium Motor Spirit (PMS) was around N1,200.

     

  • BREAKING: Presidency confirms buying new presidential jet [SEE PICTURE]

    BREAKING: Presidency confirms buying new presidential jet [SEE PICTURE]

    The Presidency has confirmed buying a new presidential jet [picture attached below] for the use of Nigeria’s President Bola Ahmed Tinubu.

    TheNewsGuru.com (TNG) reports the presidential jet is an Airbus A330, which replaced the 19-year-old Boeing B737-700 (BBJ), acquired under Olusegun Obasanjo as president.

    It was gathered that President Tinubu departed Abuja for Paris, France today using the new presidential Airbus A330.

    According to a statement by Mr Bayo Onanuga, Adviser to Tinubu on Information and Strategy, the new presidential jet was bought at a price far below the market rates.

    Onanuga added that, the recommendation to replace the B737-700 (BBJ) followed an investigative hearing by the National Assembly (NASS) that questioned the plane’s safety record and cost efficiency, especially after it malfunctioned during a trip to Saudi Arabia.

    “The new plane, bought far below the market price, saves Nigeria huge maintenance and fuel costs, running into millions of dollars yearly.

    “The recommendation to replace the B737-700 (BBJ) followed an investigative hearing by Nigeria’s parliament that questioned the plane’s safety record and cost efficiency, especially after it malfunctioned during a trip to Saudi Arabia.

    “The Nigerian Senate’s security and intelligence committee recommended replacing the ageing aircraft in the presidential fleet to reduce downtime and operational expenses.

    “The new plane is spacious and is furnished with the state-of-the-art avionics, customized interior and communications system.,” Onanuga stated.

    See photo of the presidential jet newly acquired by the Nigerian government below:

    Photo of the presidential jet newly acquired by the Nigerian government
    Photo of the presidential jet newly acquired by the Nigerian government || Photo Credit: Skyliner – aviation new and more
  • Seized presidential jets: How Paris court was misled – Presidency

    Seized presidential jets: How Paris court was misled – Presidency

    The Presidency is aware of failed attempts by Zhongshan Fucheng Industrial Investment Co. Ltd., a Chinese company, to take over offshore assets of Nigeria through subterfuge.

    Mr Bayo Onanuga, Special Adviser to the President on Information and Strategy, in a statement, said Zhongshan misled the Judicial Court in Paris into attaching Nigeria’s presidential jets in its judgment against Ogun government.

    He faulted the use of the presidential jets which were on routine maintenance in France.

    According to him, the presidential jets are assets of a Sovereign entity protected by diplomatic immunity, which forbids any foreign court from issuing an order against them.

    “We are convinced the Chinese company misled the Judicial Court of Paris regarding the use and nature of the assets it seeks to attach and did not fully disclose to the court as required by law,” he said.

    He said Federal Government was not under any contractual obligation with the Chinese company.

    “The case in which Zhongshan is trying to use every unorthodox means to strip our offshore assets is between the company and the Ogun State government.

    “The Federal Government is fully aware of efforts being made by the Ogun State government to reach an amicable resolution on the matter,” said Onanuga.

    He said the company had no solid ground to demand restitution from Ogun government based on the facts regarding the 2007 contract between the company and the state government to manage a free-trade zone.

    He said that when the contract with Ogun was revoked in 2015, the company had only erected a perimeter fence on the land earmarked for a free trade zone.

    According to him, while the Attorney-General of the Federation and Minister of Justice was working with the Ogun government on an amicable resolution, Zhongshan obtained two orders from the Judicial Court of Paris.

    He said the court orders were dated March 7, and August 12, but no notice was duly served on the Federal Government of Nigeria and Ogun government.

    “This arm-twisting tactic by the Chinese company is the latest in a long list of failed moves to attach Nigerian government-owned assets in foreign jurisdictions,” said Onanuga.

    He said unscrupulous and questionable individuals were falsely presenting themselves as investors with the sole objective of undercutting and scamming governments in Africa.

    He said the same Chinese company had tried to enforce its questionable judgment in the UK and USA but failed. He was emphatic that foreign companies were trying to defraud Nigeria with the collaboration of some bureaucrats.

    “Zhongshan appeared to have sold the judgment they got to a venture capitalist seeking to make money by embarrassing the Federal Government and President Bola Tinubu.

    “We want to assure Nigerians that the Federal Government is working with the Ogun government to discharge this frivolous order in Paris immediately.

    “Nigerian government will always work to protect our national assets from predators and shylocks who masquerade as investors,” said Onanuga.

    The contract between Ogun and Zhongshan to manage a free-trade zone was executed in 2007. The parties entered into a dispute in 2015, and arbitration began in 2016. By 2019, the arbitration hearing had been concluded.

    The Arbitral Panel awarded over 60 million dollars against the Federal Government of Nigeria, a co-defendant, when all Zhongshan had done was build a perimeter fence around the free-trade zone.

    Based on legal advice, the Ogun government resolved to resist the enforcement of the award.

    The resistance was successful in eight different jurisdictions. There are pending appeals against recognition orders issued in both the US and UK.

    Ogun State also engaged Zhongshan in settlement discussions on reasonable terms.

    The last meeting, held in September 2023 in London, was attended by several officials of Ogun, including Gov. Dapo Abiodun and Prince Lateef Fagbemi, Attorney General/Minister of Justice.

    Zhongshan’s initial reasonable readiness to consider Ogun State’s offer was surprisingly reversed by the second day when it insisted on the government paying the full arbitration debt.

    This led to a breakdown of the mediation, with parties agreeing to meet again in the first quarter of this year.

    But Onanuga said since then, Zhongshan has been evasive.

    “Instead, it embarked on a series of enforcement proceedings, which the legal team appointed by the Federal Government and Ogun successfully opposed.

    “In cases similar to the present one, where Zhongshan obtained an ex-parte order, Ogun State successfully set aside the orders.

    “Ogun has not given up on a reasonable settlement option, with the most recent letter sent to Zhongshan last week. Zhongshan only responded after obtaining this latest illegal order,” said Onanuga.

  • ‘It’s an old video’ – Presidency reacts to Tinubu’s ‘second’ viral speech

    ‘It’s an old video’ – Presidency reacts to Tinubu’s ‘second’ viral speech

    The presidency has reacted to video of President Bola Tinubu addressing Nigerians, which went viral on Wednesday.

    The Special Adviser to President Tinubu on Information and Strategy, Bayo Onanuga via the microblogging platform, X formerly Twitter clarified that the trending video is an old video.

    According to the presidential spokesman,  the clip is from a broadcast, President Tinubu made last year, adding that the Nigerian leader has not made any other public statement since his last broadcast on Sunday.

    “A trending video of President Tinubu which came out on Wednesday is not a new video. It’s a clip from the broadcast he made last year. President Tinubu has not made any other public statement since his last broadcast on Sunday,” Onanuga wrote.

  • Planned Protest: ‘We shall meet in court’ – Bayo Onanuga replies Peter Obi

    Planned Protest: ‘We shall meet in court’ – Bayo Onanuga replies Peter Obi

    Bayo Onanuga, the Special Adviser on Communications and Strategy to President Bola Tinubu, has responded to Peter Obi’s threat of a lawsuit. Obi, the former presidential candidate of the Labour Party, demanded a retraction and apology from Onanuga for alleging that Obi and his supporters were behind planned nationwide protests against the Tinubu administration.

     

    In a letter from his lawyer, Alex Ejesieme, Obi demanded N5 billion in damages and an apology from Onanuga within 72 hours.

    In response, Onanuga stated on his official X account on Tuesday that he has yet to receive the letter and is not afraid of legal action, saying, “We shall meet in court.”

  • Peter Obi sues Tinubu’s aide, Onanuga for 5bn over anarchy claims

    Peter Obi sues Tinubu’s aide, Onanuga for 5bn over anarchy claims

    The presidential candidate of the Labour Party in the 2023 general elections, Peter Obi has demanded from the Special Adviser on Communication and Strategy to the President, Bayo Onanuga, the retraction of his wild allegation, linking him as behind the planned mass protest being planned for August.

    Obi, writing through his counsel, Alex Ejesieme, SAN of the MADIBA Chambers, said that the allegation which was widely published in social and mainstream media maligned his hard-earned reputation as a man who indulges in violence when all his antecedents are vivid that he abhors violence even in the face of extreme provocation.

    “We have our Client’s mandate to demand that you retract the statement made in the publication and tender an unreserved apology to him within 72 hours of the receipt of this letter in not less than 4 National Dailies to wit: Vanguard, This Day, Punch and the Cable, including your verified ‘X’ handle ‘@aonanuga1956’.

    “Our Client also is making an unequivocal demand for monetary damage of N5,000,000,000 (Five Billion Naira) only for the embarrassment your defamatory publication has caused him and his family,” the letter read.

    Recall, Onanuga, without evidence, claimed that the protest, promoted on social media with hashtags such as ‘EndBadGovernance’ and ‘Tinubu Must Go,’ is an attempt to destabilizlse Nigeria due to Obi’s loss in the last presidential election.

    According to the presidential aide, the protest organisers are the same individuals involved in the 2020 ENDSARS protests, which were infiltrated by separatist elements.

    Onanuga further warned that the planned demonstrations could lead to anarchy and said the former Anambra governor should be held accountable for any resulting crisis

    Obi has vehemently denied the allegations as false and malicious.

  • Planned Protest: Utomi drags Onanuga to court over allegations

    Planned Protest: Utomi drags Onanuga to court over allegations

    Renowned political economist Prof. Pat Utomi has threatened to file a N500 billion lawsuit against President Bola Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, over allegations made against him.

     

    Onanuga, in a post on his X account on Saturday, accused the Labour Party’s presidential candidate, Peter Obi, and his supporters of organizing nationwide protests scheduled for August.

    He claimed that Utomi and other Obi supporters were behind the planned protests against hunger, naira devaluation, and economic hardship in Nigeria.

     

    In a statement released on Monday, Utomi, a chieftain of the Labour Party, denied the allegations, stating that he had been out of the country for some time. He urged Onanuga to retract his statement or provide evidence to support his claims.

     

    Utomi stated, “If there is no evidence of Mr. Onanuga’s false assertion, I will assume it reasonable that the object is to water the ground for false treasonable felony charges that can result in the claim of one’s life. I intend to therefore proceed to the international criminal and other human rights courts if a reasonable explanation is not forthcoming.”

  • Labour Party kicks as Onanuga drags Peter Obi into planned nationwide protest

    Labour Party kicks as Onanuga drags Peter Obi into planned nationwide protest

    Mr Bayo Onanuga, a presidential aide, has accused supporters of Mr Peter Obi, Labour Party’s candidate in the 2023 presidential election, of planning protests across the country.

    Onanuga, Special Adviser to President Bola Tinubu on Information and Strategy, who was emphatic that Obi’s supporters were planning to stage nationwide protests, said that Obi would be held responsible for whatever crisis that emanated from the action.

    “The protest planners are also the same people who were instigated by IPOB leader Nnamdi Kanu to launch the destructive ENDSARS protest in Nigeria in October 2020,” Onanuga wrote on his official X account.

    “ENDSARS began as a genuine protest by youths against the Police Special Anti-Robbery Squad, notorious for its high-handedness.

    “IPOB members planning to extricate the South-East region from Nigeria infiltrated the protest and hijacked it for their own agenda.

    “Lagos still bears the scar of the malicious destruction until today,” Onanuga added.

    He said that two years after ENDSARS, IPOB and the gullible innocents joined the Labour Party in 2022 to support Obi, who he said was a sympathiser of their cause.

    “They are the people spreading the hashtags ‘EndBadGovernance,’ ‘Tinubu Must Go,’ and ‘Revolution2024.’ They are not democrats but anarchists.

    “They are attempting to call out our people via propaganda because their Messiah, Peter Obi, failed to win the Presidency in the 2023 election.

    “As bad losers, they don’t have the patience to wait for another election in 2027; they would rather destabilise Nigeria by staging a civilian coup against President Bola Ahmed Tinubu,” he said.

    According to him, if they understood the meaning of their hashtags, they will realise they are clarion calls for treason; wanting to end an elected government is high treason, wanting revolution is a call for a coup d’etat, which is also high treason.

    “I have been on the trail of one of the protest planners, who is nameless but claims to have an internet radio station, PTM100.88 Abuja.

    “The anonymous person joined X in August 2022 and has 520 followers today, among whom are FS Yusuf, another rabid Obi supporter, and Prof. Pat Utomi, a Labour Party chief, and a guy on X who goes by the pseudonym Peter Obi’s First Son.

    “PTM’s profile image has someone holding the inscription ‘Certificate Forger Not My President,’ with a photo of Peter Obi as an inset. Only Obi’s supporters will be talking about certificate forgery long after the Supreme Court dismissed the allegation,” Onanuga wrote.

    He said that in the past 24 hours, this X user had been whipping up the gullible to join the protest being planned and also posting the activities of Obi.

    In one of the posts, he said a video showed a teenager, who was said to be in the North, printing T-shirts emblazoned with “EndBadGovernance in Nigeria 2024.”

    There is also a retweeted post by Babatunde Gbadamosi, who he described as a failed and frustrated politician in Lagos. In it, he refers to his earlier post urging people “to identify APC members, sponsors, supporters, enablers, thugs, promoters, and appointees.”

    Onanuga said the police and DSS ought to have arrested the man for making a brazen threat to political opponents.

    He said there was also “General Oluchi,” a woman by the screen name “A Field Marshall of the Han Dynasty.”

    “She has been sending out letters of mobilisation. She even pinned a ‘Week 6’ letter urging Nigerians to wake up and take control of their country, using the language of IPOB, Peter Obi, and his supporters.

    “Another member of the malcontents is Brother Bernard, also known as Mikael C. Bernard. He is not based in Nigeria because he was once busted over Binance and fraudulent crypto businesses in Nigeria.

    “Bernard was the man who once wrote that the naira should go down to zero,” said Onanuga.

    In a reaction to Oluchi, Bernard said the protesters should remove the increase in salaries for the armed forces as part of their demands.

    “If they want an increment in salary, let them launch their own protest. It is not our job to fight for enablers of evil,” Bernard wrote on X, according to Onanuga.

    However, an X user reminded Bernard that according to Nigerian law, men of the armed forces don’t protest.

    “Security agents should, by now, begin to interrogate these agents of destabilisation.

    “There is no country in the world where people are not going through some economic challenges and where the cost of living is not a major issue.

    “No country is immune from economic turbulence at the moment. Civilised and democratic people wait for another election to make leadership changes. They don’t trigger mayhem in their countries by staging protests, the end of which nobody can predict,” said Onanuga.

    He added that Nigerian citizens must consider the government’s attitude and concern about the cost of living crisis when deciding whether to join the protests.

    “The Tinubu government has not been found wanting in this regard. The minimum wage has been increased by more than 100 percent. Loans are being disbursed to students in tertiary schools.

    “A credit corporation has been launched to promote consumption credit. Palliatives, including the latest distribution of 740 trucks of rice to the 36 states and Abuja, are being rolled out.

    “Businesses, such as pharmaceuticals, are being assisted. The Federal and state governments are investing heavily in agriculture to produce more food,” he stated.

    According to him, the economy is improving, inflation is slowing, the national debt has been reduced in dollar terms, and the FIRS has increased revenue generation to record levels.

    “Investors are coming back to our country. Our stock market is the best in the world, with a 33 per cent return on investment.

    “President Tinubu has a four-year mandate to run his agenda. Those calling for protest should wait till 2027 to either re-elect him or elect their Messiah, Mr Peter Obi,” said Onanuga

    However, the Labour Party, in a statement by Obiora Ifoh, its National Publicity Secretary, has said that the party is known for being peaceful and has, on several occasions, asked its followers to follow peace at all times.

    “The attention of the leadership of the LP has been drawn to a tweet from one of the presidential aides, Mr Bayo Onanuga, linking it and its national leader Peter Obi, and very many notable figures in the LP, to the proposed protest.

    “We say that there is no truth in that. Labour Party is known for being a very peaceful party and it has, at several occasions, asked its followers to follow peace at all times.

    “We are not known as a lawless group, as was evident in the aftermath of the last general election.

    “It is, therefore, wrong for anyone to link our supporters to the planned protest. Labour Party, Peter Obi and our supporters are not planning any protests,” Ifoh said.

  • Onanuga tackles Peter Obi over his silence on Local governments autonomy

    Onanuga tackles Peter Obi over his silence on Local governments autonomy

    Presidential aide, Bayo Onanuga has tackled the 2023 Labour Party (LP) presidential candidate, Peter Obi, over his silence since the Supreme Court gave its ruling granting financial autonomy to Local government areas.

    Speaking via his account on Friday, Onanuga claimed that Obi’s silence shows he is only quick to tweet unverified news about President Bola Tinubu and Nigeria.

    He insisted that a good opposition must be sincere enough to praise his political opponent when he carries out a great deed.

    “Why is Peter Obi silent?

    “More than 36 hours after the Supreme Court gave a landmark ruling, granting financial autonomy to Nigeria’s 774 local councils, Mr. Peter Obi, the defeated Labour Party candidate, has yet to utter a word on the epochal judgment. His silence confirms the belief that he is always quick to tweet unverified news about the Tinubu administration or our country.

    “A good opposition statesman must be candid enough to applaud his political opponent when he has done some great deed. The Tinubu administration has succeeded in giving life back to our emasculated councils, using the instrumentality of the law. Even Atiku Abubakar has grudgingly admitted this. But Peter has been silent. He should break his silence and acknowledge that President Tinubu is making a great Nigeria possible.’’

     

  • FG opens up on leaked fiscal policy documents

    FG opens up on leaked fiscal policy documents

    The Presidency has said two leaked fiscal policy documents in circulation being given wide coverage by the mainstream media and social media platforms were not official.

    Mr Bayo Onanuga, Special Adviser to the President on Information and Strategy, said this in a statement in Abuja on Thursday.

    He said one of the documents titled: “Inflation Reduction and Price Stability (Fiscal Policy Measure etc) Order 2024” was being shared as if it was an executive order signed by President Bola Ahmed Tinubu.

    According to him, the second one is a 65-page draft document with the title, “Accelerated Stabilisation and Advancement Plan (ASAP), which contains suggestions on how to improve the Nigerian economy.”

    He explained that a copy of the draft was received by President Tinubu on Tuesday.

    “We urge the public and the media to disregard the two documents and cease further discussions on them. None is an approved official document of the Federal Government of Nigeria.

    “They are all policy proposals that are still subject to reviews at the highest level of government. Indeed, one has ‘draft’ clearly written on it,” said Onanuga.

    Quoting the Coordinating Minister of the Economy, Mr Wale Edun, he said, “It is important to understand that policymaking is an iterative process involving multiple drafts and discussions before any document is finalised.

    “We assure the public that the official position on the documents will be made available after comprehensive reviews and approvals are completed.”

    According to Edun, emanating from the two documents have been reports second-guessing government’s policy on customs tariffs, fuel subsidy and other economic matters.

    “The government wants to restate that its position on fuel subsidy has not changed from what President Bola Ahmed Tinubu declared on 29 May 2023.

    “The fuel subsidy regime has ended. There is no N5.4 trillion being provisioned for it in 2024, as being widely speculated and discussed,” Edun stated.

    The Coordinating Minister of the Economy further clarified: “As previously stated by government officials, including myself, President Tinubu announced the end of the fuel subsidy programme last year, and this policy remains firmly in place.

    “The Federal Government is committed to mitigating the effects of this removal and easing the cost of living pressures on Nigerians.

    “Our strategy focuses on addressing key factors such as food inflation, which is significantly impacted by transport costs.

    “With the implementation of our CNG initiative, which aims to displace high PMS and AGO costs, we expect to further reduce these costs.

    “Our commitment to ending unproductive subsidies is steadfast, as is our dedication to supporting our most vulnerable populations.”

    He urged the media to always exercise necessary checks and restraints in the use of documents that did not emanate from official channels so that the members of the public would be properly informed, guided and educated on government policies and programmes.