Author: Our Correspondent

  • Why Nigeria Needs Chinese loans now

    Why Nigeria Needs Chinese loans now

    By Dr. Austin Eshemokha Maho

    In the August 31, 2020, opinion column of the Guardian, which was also published online, there was a piece by one Biodun Odunmbaku –Wilson title: “Halt All Chinese Loans for Nigerian Railways Now”

    This piece is a response to the write-up, not necessarily because it is worth responding to but because it falls within the growing spat of misinformation about China and the Chinese which is fuelled mostly by Western-sponsored media propaganda. A response is appropriate to the convoluted article in other to correct his misrepresentation of facts

    Moreover, the outbreak of the coronavirus has led to an increase in “sinophobia”. It is a season of Chinese bashing, pulling China down and looking to humiliating the Asian giant by all means necessary has become the past time of many paid hack writers who have no respect for facts.
    The entire article is a well-worn out rehash of conjectures, hearsays and tittle-tattle.

    He called for a halt to the railway modernization programme until a cost-benefit analysis is done.

    Is Biodun Odunmbaku-Wilson saying that he knows more than everyone else?
    Is he saying that the construction of the Abuja Kaduna railway line is a mistake? or that the Lagos Ibadan railway line is a misplaced priority by government or a “white elephant” project as he claims?

    Like many before, he expresses fears about Chinese loans and on this basis calls for a halt to the rail projects. The fact, however, is that many people who express reservations about the loans rely on hearsay and propaganda and have failed to do their own independent research on the subject.

    The most unbiased, research-based and independent report on the subject of Chinese loans is contained in the June 2020 report of the “China Africa Research Initiative (CARI)” at the Johns Hopkins University School of Advanced International Studies (SAIS) or SAIS-CARI.
    The peer-reviewed report concludes that “Chinese loans are not currently a major contributor to debt distress in Africa”.
    Additionally, in a 2019 peer-reviewed research paper on the subject, Johns Hopkins professor Deborah Brautigam wrote, “The evidence so far shows that the drumbeat of alarm about Chinese banks’ funding of infrastructure across the BRI (Belt and Road Initiative) and beyond is overblown.” She believes it is Trump’s Presidency agenda to demarket China.
    Irrespective of these reports even by a top-rated Western institution, people like Odunmbaku-Wilson refuse to seek the truth for themselves and continues to brandish the debt trap argument, ironically the U.S is the largest creditor nation to China. The U.S owes China 1.1 trillion dollars!


    What Nigeria needs to develop is massive investments which the Chinese are offering. In this direction, the Chinese have shown a commitment to the growth of Nigeria by putting their money where their mouth is. If anyone ought to show fear it is the Chinese themselves. They are the ones who run the risk of losing their money by investing in a high-security risk and politically volatile environment like Nigeria.


    The dust raised by the waiver of sovereign immunity as part of the conditions in these loans agreements is all hogwash as reputable commercial lawyers agree that the clause is standard in such agreements. To continue to make the argument against the loans on the bases of sovereign immunity beats imagination since Odunbaku-Wilson has not said he is a lawyer.

    He says the Chinese Government funds and executes the transportation projects for the sole economic interests of China at the expense of the Nigerian Nation quoting a popular Chinese adage which says that, “If you want to get rich quick, build a railway”.

    Obviously, the meaning of the adage is lost to Odunmbaku-Wilson. According to Bill Gates’ mind-blowing comparison, between 2011 and 2013 China used more concrete than the US used in the entire 20th century.

    The massive concrete went into building roads, rails and bridges to connect the whole of China in an unprecedented infrastructural leap. It is that connectivity that has helped China to leapfrog and pull 800 million of its citizens out of poverty in a space of two decades and contributed immensely to global wealth and prosperity.

    The Chinese have proven the old adage from its own experience and on that basis provides concessionary loans to help developing countries build infrastructures that help people to people connectivity, promote trade and lift people out of poverty. The concept is well captured in the Belt and Road Initiative (BRI) as propounded by the Chinese government.

    Indeed I agree with Odunmbaku-Wilson that “this is an oft-recited Chinese mantra, embodied in China’s foreign policy and a major keystone for infrastructure investment strategy overseas”.

    The Chinese are not giving out loans for consumption but for the development of infrastructure. Has he ever wondered why proceeds of corruption have never been traced to Beijing or any city in China but to Europe and America?

    To underscore the importance of this concept is the Abuja Kaduna rail which he tries to disparage as a white elephant project. The rail project was designed to carry 1000 passengers in a day but today it carries almost 4000 passengers daily and the coaches plying the route have steadily increased to meet growing demand.

    The rail network has also boosted commercial activities along its tracks and increased business activities between Abuja and Kaduna. Odunmbaku-Wilson should try telling the over 3,000 passengers who regularly use the train services that it is a white elephant project.

    He also talks about the “Carte Blanche freedom giving to the Chinese to landscape the length and breadth of Nigeria” as having “serious implications for security and national growth”.

    What authority he relies on to make such claims is best left to him as he failed to give evidence to back up his claim. One can only assume that he is making an academic argument that has no basis in reality.

    Julius Berger for instance practically built Abuja and the seat of power Aso Rock from scratch.

    Julius Berger holds the drawings of all the bunkers, the corners and crevices of the precedential villa. The area maps, complete Geospatial mapping of Abuja are domiciled in Julius Berger headquarters in Abuja.

    From Odunmbaku-Wilson logic, Julius Berger constitutes the greatest security risk to the country for taking area maps and satellite imagery that anyone with a smartphone can obtain with google map these days.

    Evidently, the article is nothing but the antics of a paid hack writer who is set to satisfy his pay master or ignorance or outright mischief.

    The IMF recently gave Nigeria a loan of 3.4 billion USD, is he aware that the loan is not tied to any project and is for consumption and we must pay back the loan within six years? If this is not a problem how then can you call an infrastructural loan payable in 30 years with 3 years moratorium a problem?

    Odunmbaku-Wilson, also devoted considerable time trying hopelessly to disparage the reputation of the China Civil Engineering Construction Company as incompetent in handling the rail modernization project because it is owned by the Chinese government.

    To his question of who is and who owns the Engineering Construction Company (CCECC), a simple google search would have answered his question.

    CCECC is a subsidiary of China Railway Construction Corporation Limited (CRCC) a listed construction enterprise based in Beijing, China, that was the second-largest construction and engineering company in the world by revenue as at in 2014. Its Nigerian operations are through CCECC Nig. Ltd.

    That China has the best rail technology in the world is a fact. That China has the most extensive rail network in the world is a fact,
    to then say that China import coaches from Europe and that coaches made in China are substandard reflects a humongous level of ignorance or mischief.

    CCECC undertook its first rail project in African as far back as 1960 when it contracted the Tanzania-Zambia Railway(TAZARA).

    Ever since its business activities have expanded with presence in over 50 countries and regions in Asia, Africa, America, Europe and Oceania. CCECC has been listed among the worlds top 100 international contracting for 17 consecutive years by Engineering News-Record “ENR”

    CCECC has also won many titles and honours including “Outstanding international contractor award”, “Most accomplished enterprise in the construction industry”, “Top 500 largest SOEs” in the world, “ with AAA rating”

    As a global construction giant, CCECC was among a consortium of Chinese and Turkish firms that constructed a 533-km high-speed railway in Turkey in 2015.

    Also in 2015 CCECC was among the Chinese rail companies awarded the contract to build a high-speed rail line from Las Vegas to Los Angeles in the United States.

    To demonstrate the global confidence in Chinese rail technology, Russian Railways also went for a Chinese rail company as co-contractor in building a 770-km high-speed railway between Moscow and Kazan in 2016.

    CCECC has completed or ongoing projects in Albania, Honduras. Egypt Saudi Arabia, Laos Turkey, Montenegro, Columbia and a host of Sub-Saharan countries. These are facts that can be cross-checked with a simple google search.

    Furthermore, China has the largest High-Speed Rail (HSR) network in the world
    The HSR network reached 36,000 km (22,000 mi) in total length in August 2020, built with indigenous technology and coaches manufactured in China.

    The Nigeria government went for the best in its choice of company to handle its railway modernisation programme.

    To show how pedestrian and out of touch he is Odunmbaku –Wilson tried to disparage CCECC’s efforts at capacity building and training for its Nigerians staff and asked ridiculously, if “the construction contract drawings are in English or Chinese Language?”

    Chinese baiting and shaming are borne out of ignorance a fixation and a slave mentality with Western precepts that believes English is the only language of civilisation.

    China has an unbroken 5000 years of civilization and Mandarin the language of China has about 2 billion speakers. A good number of Chinese citizens, especially among young Chinese speaks fluent English.

    As of 2019, there were 492,185 foreign students from 196 countries and regions studying in 1,004 universities and academic institutions in China. The language of tutoring these foreign students is not mandarin but English.

    The top 5 countries for foreign students studying in Chinese Universities are
    South Korea, Thailand, Pakistan, India and the USA. Yes the USA and several western countries flood to Chinese universities for studies because Chinese Universities are ranked some of the best in the world. See the link below: (https://www.statista.com/statistics/430717/china-foreign-students-by-country-of-origin/)

    Furthermore, CCECC has been in Nigeria for almost four decades, next year, 2021 marks the 40th anniversary of its operations in Nigeria and none of its projects in its 40 years of operations in Nigeria has been recorded as a failure. It’s over 20,000 Nigeria staff have never complained of ill-treatment or standards or raised ethical concerns, but Odunmbaku –Wilson purports to speak for them.

    The world is in the cusps of anti-intellectualism. Intellectuals who ought to bear the torch of enlightenment have themselves become hired pens, spin doctors of misinformation and half-truths.

    In Odunmbaku –Wilson summation he warns thus: “Now, to allow the Chinese to continue to travel and execute projects in Nigeria is extremely dangerous for the country and the generality of the people. President Paul Kagame of Rwanda a few weeks (sic) affected the deportation of some Chinese. He said during the deportation, “You can’t eat from Africa and disrespect us. I am deporting these Chinese back to their country and never to return back. Rwandese must enjoy their rights in their country.” The deportees violated the laws of Rwanda through the consistent abuse of the rights of her people – “working abnormal hours like slaves” and also grabbing farmlands from indigenes.

    This shows how much he had relied on pure hate, and fake news to put his article together without any respect for the truth and verification.

    An AFP (Agence France-Presse) Fact Check of 4/06/2020 has since identified the widely circulated story as fake news. AFP made the following statement about the post: “Posts claiming that Rwandan President Paul Kagame ordered the deportation of Chinese nationals for mistreating Rwandan workers have been shared hundreds of times on Facebook. However, there is no public record of such an order, and representatives of both the Rwandan and Chinese governments said this never happened. According to investigation by the AFP “There are no reports from any reputable media organisations of Kagame making such a statement. A Rwandan government spokesperson told AFP Fact Check the claim was “fake news”.

    Also on its verified Twitter handle The Ministry of Foreign Affairs & International Cooperation disproved the story as fake news, the ministry warned that: “there has been fake news circulating on various social media platforms stating that 18 Chinese citizens were expelled from Rwanda; no such thing happened. Please ignore”. This is way back on June 2, 2020.

    But people like Odunmbaku-Wilson continue to spread this fake news as fact just to denigrate the Chinese.

    Opinion is free but facts are sacred. That the Guardian would allow its space to be used to publish these wild allegations and misinformation in the first place is unfortunate

  • The cabals of Nigeria’s power assets

    New-owners-of-power-assets-360x225
    New-owners-of-power-assets-360x225

    Out of the eighteen original unbundled PHCN firms fixed for privatisation, fifteen have now been confirmed with the receipt of take over documents and the physical hand over of assets while three are still pending. Two out of the three, the Afam generating company (GENCO) and the Kaduna distribution company (DISCO); will collect their documents at a later date. With the preferred bidder for the Afam GENCO expected to pay a total of $260m within 6 months, based on a different time-table and the preferred bidder for the Kaduna DISCO, which also has a separate time-table, expected to pay a total of $163m within 6 months. The third, which is the Sapele GENCO, has preferred bidders who have been given an extra three months to complete payment of the balance of $21million of the total bided price of $201million. The preferred bidders; CMEC/Eurafric Limited had paid a total of $180 million, but asked the NCP for more time to complete payment after the reserved bidder, Nestle oil/Julius Berger bided $106 million for the Sapele power firm. In total the potential proceeds from the sale of the DISCOs once the final Kaduna DISCO is paid for will amount to $1.419bn while the potential proceeds from the sale of the GENCOs (including Afam and Sapele) should amount to $1.65bn (best case) or $1.55bn (worst case scenario). (As I noted in my earlier e-mail, we can do away with this paragraph, provided we can use a picture of some of the owners)

    The physical hand over of ownership of the unbundled PHCN assets to the new owners of five GENCOS and ten DISCOS by President Goodluck Jonathan on November 1st has no doubt heralded a new dawn in the power sector. However, the take-over of the assets has also raised new questions as to the credibility of the companies behind the purchases and as to whether they will be able to deliver in terms of adequate technical expertise and manpower, handling of capacity, as well as the delivery of quality services across their various jurisdictions.

    The GENCO Investors

    Transcorp/Woodrock Consortium

    Asset: Ughelli Power Plant

    Cost: $300 million

    Key Individuals: Mr. Tony Elumelu (Chairman, Transcorp Group), Mr. Obinna Ufudo (CEO, Transcorp Group) Mr. Adeoye Fadeyibi (CEO, Transcorp Ughelli Power Limited)

    Summary: The Ughelli power plant with an installed capacity of 972 MW was acquired by the Transcorp/Woodrock Consortium through a debt financing facility arranged by African Finance Corporation (AFC), United Bank for Africa Plc (UBA), First City Monument Bank (FCMB) and Fidelity Bank. Mr. Tony Elumelu, a former CEO of UBA played a major role in the deal through his company Heirs Holdings Ltd. Mr. Elumelu had a stellar track record as a banker during his time as CEO at UBA and since his retirement in 2010, his brain child; Heirs Holdings has been promoting businesses, especially small and medium scale enterprises across Africa.

    Transcorp Ughelli Power Limited (TUPL), which also has Wood Rock Energy Resources Limited, Symbion Power LLC, Thomassen Holding Limited, Medea Development SA, Tenoil Petroleum and Energy Services Limited and PSL Engineering and Control Limited as equity investors/partners, plans to immediately carry out a three-phase operation of “quick wins, refurbishment and expansion.” These involve activities that will immediately address the shortage in available capacity and increase the power generation capacity of the plant from 300 MW to over 1500 MW in the next five years.

    Amperion Power Distribution Limited

    Asset: Geregu Power Plant

    Cost: $132 million

    Key Individuals: Mr. Femi Otedola (Chairman, Forte Oil), Mr. Akin Akinfemiwa (CEO, Forte Oil)

    Summary: The acquisition of the Geregu power plant, with an installed capacity of 414 MW was spear headed by Mr. Femi Otedola, who is also the chairman of Amperion’s parent company Forte Oil. Forte Oil owns 57% of Amperion’s equity, while its technical partners BSG Resources Limited; a global diversified energy group owns 38% and the Shanghai Municipal Electric Power Company (SMEPC); the world’s largest power company has a 5% stake.

    Mr. Otedola, a business man of many concerns is widely recognized as a stalwart in the downstream petroleum sector, through his affiliations with Zenon Petroleum and Gas Limited and subsequently, Forte Oil. According to the CEO of Forte Oil, Mr Akinfemiwa, the move into power is part of the company’s transformation programme which includes its diversification into other high margin energy sectors such as power generation and upstream exploration and production. Amperion Power, utilizing the strengths of its technical partners has stated that it intends to ramp up the capacity of the plant by about 50% to over 600 MW in the short to medium term.

    Mainstream Energy Solutions Limited

    Asset: Kainji Hydro Electric Plant and Jebba Hydro Station

    Cost: $170 million

    Key Individuals: Col. Sani Bello (Chairman, Mainstream), Alhaji Ismaila Isa (Vice Chairman, Mainstream), Brig Gen. Tunde Ogbeha (Director, Mainstream)

    Summary: The Kainji and Jebba power stations both owned by Kainji Hydro Electric Plc was part funded by a medium term syndicated acquisition facility. The syndication was funded by Guaranty Trust Bank (GTB) and Africa Finance Corporation (AFC).

    Col. Sani Bello (rtd) is the spearhead of Mainstream Energy Solutions Limited (MESL) and is a former military administrator of Kano state. He has also been either chairman or director of several companies including MTN, Law Union & Rock Insurance Plc and Amni Petroleum. The consortium of companies which have equity interests in MESL include; Allstream Energy Solutions, Amni International Petroleum Development Company, Anchorage Holdings Limited, Bullet International, Conexel Nigeria Limited, Confluence Cable Network (“CCN”) and Crust Energy.

    MESL also has a technical partner in the form of Russian company, RusHydro Group which has significant hydro power experience across Russia and several bi-lateral relationships in Asia and Europe. MESL has restated that its focus is to sustain the current capacity and meet the five-year target of 1500 MW as contained in the terms of concession for Jebba and Kainji hydro companies. It recently added another unit to the Jebba hydro station, increasing the plant’s capacity from 380 MW to 450 MW

    North South Power Company Limited

    Asset: Shiroro Power Station

    Cost: $111.7 million

    Key Individuals: Eng. Olubunmi Peters (Vice Chairman, North South Power)

    Summary: North South Power Company Limited acquired the 600MW capacity Shiroro power station with the help of a successfully arranged debt financing deal by UBA, which acted as the financial adviser and mandated lead arranger of the transaction.

    Former military head of state, General Ibrahim Babangida has been strongly linked to North South Power as its primary promoter; however representatives of the company have vehemently denied this. The “official” members of the consortium behind North South Power include; XS Energy Limited, BP Investment Limited, Urban Shelter Limited, Transatlantic Development and Investment Company, Roads Nigeria Plc (Nigeria) and Niger State Government. The consortium is also backed by their technical partners, China International Water Electric and China Three Gorges Corporation.

    The company’s vice chairman Engineer Olubunmi Peters has indicated that North South Power intends to add 600 MW into the national grid and then add 200 MW in its third year.

    KEPCO Energy Resources Limited

    Asset: Egbin Power Station

    Cost: $407.3 million

    Key Individuals: Mr. Tonye Cole (CEO, Sahara Energy Group), Mr. Tope Shonubi (Executive Director, Sahara Energy Group)

    Summary: KEPCO Energy Resources, a joint venture between Korea Electric Power Corporation (KEPCO), a South Korean power company with assets across the globe and Nigeria’s Sahara Energy Group; had in 2007 acquired a 51% equity stake in the 1,320 MW capacity plant at a cost of $280 million, as part of the ongoing privatisation process of the country’s ailing power sector by the Federal Government.  However, due to several challenges, the handover of the plant to KEPCO was delayed for over 6 years. KEPCO was then offered additional 19% shares in 2013 through a supplemental share purchase agreement, thus bringing the total acquisition by the company to 70%. Under the new terms, the Council asked KEPCO to pay 51% of the plant’s shares at the 2007 valuation of $549.01million, and pay for an additional 19% of the shares at the current valuation of $670 million.

    The DISCO Investors

    NEDC/KEPCO Consortium

    Asset: Ikeja Electricity Distribution Company

    Cost: $131 million

    Key Individuals: Mr. Kola Adesina (Chairman NEDC/KEPCO), Mr. Tonye Cole (CEO, Sahara Energy Group), Mr. Tope Shonubi (Executive Director, Sahara Energy Group)

    Summary: New Electricity Distribution Company (NEDC) and Korea Electric Power Corporation (KEPCO), which are partnering Sahara Energy as local partners, acquired the Ikeja Distribution Company. Tope Sonubi and Tonye Cole are known players in the Nigerian oil and gas sector and as noted above, had already been involved in the power sector as way back as 2007 through their partnership with KEPCO with regard to the Egbin GENCO.

    There were some negative reactions to the fairness of awarding the Ikeja DISCO and Egbin GENCO to the same consortium as this could lead to monopolistic behaviour and could adversely affect efficiency. However, the chairman of the Technical Committee, National Council on Privatisation; Mr. Atedo Peterside stated that the rules allow a core investor to win a maximum of any two DISCOs and one GENCO. The chairman of the NEDC/KEPCO consortium, Mr. Kola Adesina, on his own part has taken a tough stance against institutional debtors, especially government parastatals, warning them to pay up their debts or face disconnection.

    Vigeo Power Limited

    Asset: Benin Electricity Distribution Company

    Cost: $129 million

    Key Individuals: Mr. Victor Gbolade Osibodu (Chairman, Vigeo Holdings) Mrs. Funke Osibodu (CEO, Vigeo Power)

    Summary: Vigeo Power Limited acquired the Benin Electricity Distribution Company through the assistance of Stanbic IBTC, which helped in raising equity and providing debt financing to part fund the acquisition. Mr. Victor Gbolade Osibodu, the main promoter behind the Vigeo consortium, is the chairman of Vigeo Holdings and is also the husband of former managing director of Union Bank, Mrs. Funke Osibodu. Mrs. Osibodu is now the current managing director/CEO of Vigeo Power Limited.

    Vigeo Holdings has been running a company called Global Utilities Management Company (GUMCO) founded in 1999 as a utility infrastructure management company providing services to improve the efficiency in the downstream sector of the electric power industry. GUMCO has, in the past few years, been involved in the National Prepayment Metering Programme in partnership with the Benin Electricity Distribution Company.

    The consortium comprises Vigeo Holdings Limited, as the consortium lead and equity member,  Global Utilities Management Company Limited (GUMCO) as local technical partner and equity member, African Finance Corporation (AFC) as equity member and Tata Power Delhi Distribution Limited (TPDDL) as well as the Calcutta Electric Supply Corporation Limited (CESC) as the foreign technical partners. According to Osibodu, the consortium plans to invest an additional N40billion into the Benin Disco for infrastructure over the next five years.

    KANN Utility Consortium Company Limited

    Asset: Abuja Electricity Distribution Company

    Cost: $164 million

    Key Individuals: Alhaji Shehu Malami (Chairman, KANN Consortium), Mr. Neil Croucher (CEO, KANN Consortium)

    Summary: Standard Bank of South Africa (SBSA) acted as the financial advisors to Copperbelt Energy Corporation (CEC) Plc with respect to its acquisition of 60% shareholding in Abuja Electricity Distribution Company vide Kann Utility Consortium Company Limited. SBSA and Stanbic IBTC also assisted KANN Utility Consortium Company Limited in respect of posting of its bid bonds, preferred bidder’s guarantee and providing debt financing to part fund the acquisition.

    KANN Utility Consortium is a joint venture between CEC and Xerxes Global Investments Limited. CEC is a twenty year old Zambian based company engaged in generation, transmission and distribution of electricity predominantly to the mining sectors in Zambia, Congo Democratic Republic and South Africa. The chairman of the company Alhaji Shehu Malami is an astute business man who has been chairman of companies such as Costain and PZ. Former director in charge of operations at CEC, Neil Croucher is to head the new interest as managing director.

    Sahelian Power SPV Limited

    Asset: Kano Electricity Distribution Company

    Cost: $102 million

    Key Individuals: Alhaji Yusuf Hamisu Abubakar (CEO, Sahelian Power), Alhaji Umaru Mutallab (Chairman, Sahelian Power)

    Summary: Sahelian Energy Power SPV Limited, which acquired the Kano Disco for $102 million, is a consortium comprising Incar Power Limited (IPL) which is promoted by Alhaji Umaru Muttalab, Dantata Investment and Securities Limited which is promoted by Alhaji Aminu Dantata, Sahelian Energy and Integrated Services Limited (SEIS), promoted by Alhaji Yusuf H. Abubakar, Highland Electricty Limited (HEL), promoted by Alhaji Kashim Bukar Shettima and Kayseri Ve Civari Elektrik T.A.S. (KCETAS), a Turkish electricity generation and distribution company.

    The chairman of Sahelian Power, Alhaji Umaru Mutallab is a respected business and banking mogul, largely credited for playing a major role in introducing Islamic Banking into Nigeria. Alhaji Yusuf Hamisu Abubakar, the managing director of Sahelian Power, is a commissioner at the Nigerian Communications Commission (NCC), a one-time executive secretary of the Petroleum Development Trust Fund (PTDF) and former lecturer at the University of Nigeria, Nsukka and the Ahmadu Bello University, Zaria. He is also board member at Niger Insurance Company and was said to have once been nominated for a ministerial post by Vice President Namadi Sambo.

    4Power Consortium Limited

    Asset: Port Harcourt Electricity Distribution Company

    Cost: $124 million

    Key Individuals: Mr. Augustine Nwokocha (Chairman, 4Power Consortium), Governors of Bayelsa, Cross River, Akwa Ibom and Rivers State

    Summary: The Governments of Bayelsa, Cross River, Akwa Ibom and Rivers State are firmly behind the 4Power Consortium which acquired the Port Harcourt Electricity Distribution Company, with Rivers State in particular authorizing Guarantee Trust Bank Plc (GTB) to issue bonds and guarantees on behalf of 4Power Consortium Limited to enable the acquisition of the asset.

    4Power Consortium Limited has nine equity companies in the consortium including; Taleveras Group of Companies Limited; Lilleker Brothers (Nigeria); Income Electrix Limited/CESC Limited Joint Venture; Skyview Power Technologies Limited; First Independent Power Company Limited; Akwa Ibom Investment and Industrial Promotion Council (AKIIPOC); Paradise Power Nigeria Limited; Bayelsa Electricity Company Limited; and CESC. The chairman of 4Power Consortium, Mr. Augustine Nwokocha, is also the commissioner of energy for Rivers State. He has stated that the new company’s core functions will continue to be distribution and marketing of electricity in Rivers,Akwa Ibom,Bayelsa and Cross River States in Nigeria’s South-South region.

    Integrated Energy Distributing and Marketing Limited

    Asset: Ibadan Electricity Distribution Company, Yola Electricity Distribution Company

    Cost: $171 million ($126.75 million for Ibadan and $44.25 million for Yola)

    Key Individuals: Gen. Abdulsalami Abubakar (Chairman, Integrated Energy), Mr. Tunde Ayeni (Vice Chairman, Integrated Energy), Dr. Sola Ayandele (CEO Integrated Energy)

    Summary: Integrated Energy was one of the earliest firms to complete payment for its respective bids and was the only investor that acquired two distribution companies. The company is promoted by a former military head of state, Gen. Abdulsalami Abubakar. The retired general was Nigeria’s head of state for almost a year after the death of his predecessor, Gen. Sani Abacha in 1998. He is currently regarded as an elder statesman with several international appointments and honorary degrees. The vice chairman of the company, Mr. Tunde Ayeni, is a seasoned lawyer and astute business man and currently sits on the board of Skye Bank and Aso Savings and Loans Plc.

    Integrated Energy has entered into a technical partnership with the Manila Electric Company (MERALCO), the Philippines largest distributor of electric power, to manage its technical facilities. The vice chairman Mr. Tunde Ayeni has said that the company is planning to invest in massive human capital development and advanced technological input to ensure stable power in the country and also intends to promote the culture of energy saving.

    Interstate Electrics Limited

    Asset: Enugu Electricity Distribution Company

    Cost: $107.4 million

    Key Individuals: Sir Emeka Offor (Chairman, Interstate Electrics Limited)

    Summary: The Enugu DISCO was acquired by the Sir Emeka Offor promoted Interstate Electrics amidst some controversy. It did not meet up with the 75% payment deadline and many questioned why Interstate Electrics should be given the nod ahead of other capable bidders like Eastern Electric sponsored by a consortium of investors which included Geometric Power Limited led by Professor Barth Nnaji, the five South Eastern State governments, Nestoil, Aba Power Limited and Mr. Pascal Dozie, the founding chairman of Diamond Bank. It however emerged that Interstate took advantage of the available window for the completion of outstanding balance as spelled out in the Share Purchase Agreement (SPA).This apparently gave Interstate Electrics a 20 working day extension after the expiration of the original deadline on August 21 to make payment.

    Sir Emeka Offor, is the chairman of Interstate Electrics while he is also chairman of Chrome Consortium Energy Nigeria Limited, a company with interests in oil and gas services, telecommunications and logistics. Interstate Electrics Limited consortium comprises Chrome Consortium Energy Nigeria Limited, Powerhouse International Limited, and Metropolitan Electricity Authority (MEA) as the consortium’s technical partner. Metropolitan Electricity Authority of Thailand possesses over 50 years experience and currently distributes over 12,000MW of electricity in Thailand.

    West Power and Gas Limited

    Asset: Eko Electricity Distribution Company

    Cost: $135 million

    Key Individuals: Mr. Charles Momoh (Chairman, West Power and Gas), Dr. Tunji Olowolafe (Director, West Power and Gas), Mr. Ernest Orji (Director, West Power and Gas)

    Summary: Mr. Charles Momoh, Dr. Tunji Olowolafe and Mr. Ernest Orji are the key promoters of West Power and Gas Limited (WPG). Mr. Momoh, aside from being chairman of WPG is also the managing director of Atlantic Meridean Limited, an indigenous oil servicing company. Dr. Olowolafe, a medical doctor by profession, is the chairman and managing director of Deux Project Limited, a civil engineering, construction and consultancy company. He also sits on the board of several other companies. Mr. Orji, a former non-executive director of Finbank Plc, prior to his removal along with three others by the Central Bank of Nigeria, is the chairman of Alpha Consortium Limited, a company with considerable experience in the power sector.  He is also the lead investor of a consortium that owns the Southern Sun Ikoyi Hotel.

    The WPG consortium comprises Alpha Consortium Limited, Atlantic Meridean Limited, Africa Infrastructure Investment Fund 2 Mauritius, and Siemens Limited of Germany, the executor of the recently commissioned 434mw Geregu II National Integrated Power Project (NIPP) under the Niger Delta Power Holding Company (NDPHC). WPG has allocated $250 million towards rehabilitation work while it has allocated a further US$48 million towards a power purchase agreement with the Nigerian Bulk Electricity Trading Plc (NBET).

    Aura Energy Limited

    Asset: Jos Electricity Distribution Company

    Cost: $82 million

    Key Individuals: Alhaji Garba Mohammed Noma (Chairman, Aura Energy),

    Summary: Alhaji Garba Mohammed Noma, is the key promoter of Aura Energy. He is a seasoned administrator with more than thirty years’ experience at senior executive level in the Nigerian public and private sector. He is also a politician and a former speaker of the House of Assembly in Bauchi State in the first republic.

    The Aura Energy Limited consortium is made up of Aura Energy Limited and its technical partner; Aydem Elektrik Dagitim A.S. of Turkey. Aydem has over 20 years experience in the Turkish power sector and currently distributes reliable energy supplies to over 1.5 million customers in its distribution region. It is to provide Aura Energy with its specialist knowledge and expertise to improve the performance of the Jos Electricity Distribution Company.

  • Ameachi buries brother amid tears

    Ameachi buries brother amid tears

    Former Governor of Rivers State and Minister of Transportation, Rt.Hon. Chibuike Rotimi Amaechi says the demise of his elder brother, Oha Charles Amaechi who was laid to rest in his country home, Ubima on Saturday has left a huge family responsibility on him as it would be difficult to combine both family and official responsibilities.

    Speaking at a church service organized for the deceased at the St.Thereaser Catholic Church Ubima, Amaechi said,

    ” He has left us with a huge responsibility that I never imagined would be so soon to confront and a challenge that I lack the capacity to discharge. Chikamkpa, Lemchi, Obinna, Judith and I will find it difficult to come to terms with his death. We can only pray that Dede rest in the bossom of the Lord.

    Continuing in a soft laden voice, Amaechi said, ” Dede, as he was widely known, was generous to a fault. Dede was a name given to him by me in reverence to his ubiquitous care and fatherly role in our lives. He was everything to everybody and was full of life, he related with both the young and the old and got all his children educated.

    He protected all of us from the vagaries of the Nigerian society. He contributed to the payment of my school fees and ensured that we were not fatherless at the death of our father as he assumed the responsibilities of the family. He made my younger siblings complete their education and got them engaged in their different spheres of responsibilities”, he said.

    In his remarks, Plateau state Governor, Simon Lalong who represented both the Nigerian Governors Forum and the Northern Governors Forum(NGF) said, the late Charles Amaechi lived a good life worthy of emulation.

    “The late, Sir, Charles Amaechi has done a good work because it is not easy to be a Knight, ours is to emulate him and his contributions to the church of Christ. I am here to represent the Chairman Nigeria Govamernors Forum, the person of Gov. Kayode Fayemi and also the Northern Governors Forum, which I’m the Chairman, to extend our condolences to Chibuike Rotimi Amaechi for this great loss”,he said.

    Lalong, however, donated a 32 seater bus on behalf of the Plateau state government to the church as a mark of remembrance for the good deeds of the deceased.

    ” Plateau State donates a 32 seater bus in love to the church, in Charles Amaechi’s name so that he will be remembered for what he has done,” he said.

    In her condolence message addressed to her colleague, Chibuike Rotimi Amaechi, Minister of State,Transportation, Sen. Gbemisola Saraki, said the deceased lived a worthy life bequeathed with legacies for which he would be fondly remembered.

    “I wish to join you to offer gratitude to God for the life he lived and I urge you to continue to uphold his guiding values as a tribute to his loving memory”,she said.

    Also, Chairman of the All Progressive Congress ( APC) in Rivers State, Isaac Ogbobula, Esq described the deceased as a perfect gentleman and a devout Christian of the Roman Catholic faith and a Knight of St. Mulumba.

    “He was a committed and dependable party leader and regularly offered valuable and stabilising advice on burning political issues. Dede never lost hope in the APC but was always looking towards the brighter side of things for the party”,he said.

    The late Charles Amaechi died at aged 64 at the University of Port Harcourt Teaching Hospital, Rivers State.

  • BURATAI GIVES KUDOS TO THE MEDIA

    BURATAI GIVES KUDOS TO THE MEDIA

    From Abba Kabara, Gusau.

    The chief of army staff Lt-Gen Tukur Yusuf Buratai has commended the support and sustained courage exhibited by the various media organisations as partners in the struggle to end the scourge of banditry, kidnapping and other insecurity problems bedevilling the North-west zone for many years.


    Gen. Buratai made the commandation today during a special media chat as part of his assessment visit to Faskari special army super camp (4) Katsina state.


    He acknowledged that the sustained involment of the media has greatly helped in reducing worries, fears and the general tensions hindering the social and economic life of particularly the rural communities.


    The Army chief extended words of commendation to the officers and men of the army  handling the operation  SAHEL SANITY from Faskari army base.


    He said from his assessment of the level of achiement so far recorded from the operation,

    “I am confident that normalcy is fast returning to not only Zamfara and Katsina in particular, but the entire North-west zone is witnessing the positive impact of the operation sanity”.


    The general said further that, though one cannot dismiss the fact that there are pockets of bandits’ attacks in some few places, “but even the most vulnerable peasant communities would atttest that they now enjoy a comfortable calmness in thier respective areas”.


    He however gave assurance that the remaining defiant criminals will be ruthlesssly delt with in a sustained vigour until complete peace is achieved in the zone.


    Gen. Buratai stressed that the establishment of the Faskari Army Super Camp was designed to crush the wave of crimes like banditry, kidnapping, rustling and all other forms of dissidence in the NorthWest zone.


    “The army will carry out it’s duties in line with normal callings, and will spare no element of criminality”, he said, stressing that the army must do all within it’s capability to gaurantee the territorial and internal peace of the Nigerian citizens.

  • HUAWEI HARMONY OS OFFICIAL WEBSITE IS LIVE: SOURCE CODE IS AVAILABLE FOR DOWNLOAD

    HUAWEI HARMONY OS OFFICIAL WEBSITE IS LIVE: SOURCE CODE IS AVAILABLE FOR DOWNLOAD

    By Efe Udin EFE
    ‌‌‌‌‌‌
    Huawei officially launched the Hongmeng OS 2.0 system at the HDC Developers Conference. Today, the system released the developer Beta version for large screens, watches, and cars. The company also said that it will release the mobile version in December. After the launch, smartphones will fully support the Hongmeng 2.0. In addition, the official website of Huawei Harmony OS is now online, and the source code is available for download. The global version of Huawei Hongmeng OS is HarmonyOS.

    Starting from September 10, HarmonyOS will be open-source for 128KB-128MB terminal devices such as large screens, watches, and cars. In April 2021, it will be open-source for memory 128MB-4GB terminal devices, and after October 2021 it will be open-source for all devices above 4GB.

    Huawei Harmony OS is a “future-oriented” distributed operating system for all scenes (mobile office, sports health, social communications, media entertainment, etc.). Based on the traditional single-device system capability, HarmonyOS proposes a distributed concept based on the same system capability and adapting to multiple terminal forms, which can support multiple terminal devices.

    For consumers, HarmonyOS can integrate the capabilities of various terminals to form a “super virtual terminal”. It can achieve fast connection, mutual assistance, resource sharing between different terminal devices, and match suitable equipment. It also provides a smooth full-scene experience.
    For application developers, HarmonyOS uses a variety of distributed technologies. It makes application development independent of a particular form. This effectively reduces development difficulty and cost. This allows developers to focus on the upper-level business logic and develop applications more conveniently and efficiently.
    For device developers, HarmonyOS also adopts a componentized design scheme. In addition, it can be flexibly tailored according to the resource capabilities and business characteristics of the device to meet the requirements of different types of terminal devices for the operating system.

    Huawei is currently fighting a very intense battle, especially with the American government. It is facing multiple bans that are affecting its business. Since the beginning of last year, all Huawei new phones do not come with Google Mobile Service. This means that no PlayStore, no Gmail, and many other apps. In addition, it can no longer rely on TSMC to manufacturer its HiSilicon Kirin chips. This is as a result of the extended ban which the U.S. government imposed.

    According to Yu Chengdong, Huawei will release the Huawei Mate 40 series with Kirin chips in September this year. However, this may be the last phone that will use Kirin’s flagship processor. TSMC can not work on Huawei Kirin chips after September 15. This means that no new Kirin flagship can hit the market. According to Yu Chengond, the Mate 40 series will exhaust all the flagship Kirin chips. This is a very big loss for Huawei.


  • Breaking: NASS suspends resumption of plenary

    Breaking: NASS suspends resumption of plenary

    The management of the National Assembly has suspended the resumption of plenary session earlier schedule for Tuesday September 15 to September 29.

    This suspension is contained in a statement signed by the clerk of the National Assembly Ojo Olatunde Amos On Friday evening.

    The statement read:

    “This is to inform all Distinguished Senators and Honourable Members of the National Assembly that the resumption of plenary session earlier scheduled for Tuesday 15th September. 2020 is hereby postponed to Tuesday 29th September 2020. While assuring you of our high regards and esteemed and esteem. We regret any inconvenience caused by this change of date” the staemnet read.

  • As China honors citizens on the frontline in the fight against COVID-19

    As China honors citizens on the frontline in the fight against COVID-19

    By Austin Maho P.hD

    Watching the grand ceremony at the Great Hall of the People in Beijing, capital of China on Sept. 8, 2020, one can only but recall the immense battle and sacrifice the Chinese people have gone through in the last 9 months to bring COVID-19 under control.

    Where many countries have floundered the Chinese have through committed leadership and rigid discipline confronted COVID-19 and defeated it.

    The battle against COVID-19 has been fierce, it has been decisive and the People’s Republic have every reason to celebrate this moment and the men and women who have put their lives and professional reputation on the line through selfless sacrifices in the battle to contain and control the novel coronavirus from become a major health epidemic in China.

    The gathering at the Great Hall of the People was to celebrate the heroes of the fight against COVID-19. From a grateful nation came some of the highest awards in the land. A Medal of the Republic and the National Honorary title to those who have contributed in no small measure to bring the virus under control.

    Among the recipients for his uncommon service was renowned respiratory disease expert Zhong Nanshan.

    To underscore the importance of the award, Chinese president Xi Jinping together with the General Secretary of the Communist Party of China (CPC) Central Committee and Chairman of the Central Military Commission were on hand to present the award to the recipients.

    In his speech president Xi noted that, China has fought a fierce war against the epidemic and has passed the “extraordinary test of history. He called for transforming the virus-fighting spirit into tremendous strength to build a modern socialist country and achieve Chinese “national rejuvenation”.

    At the event which was witnessed by over 3,000 people, Xi presented the Medal of the Republic to the 84-year-old renowned respiratory disease expert Zhong Nanshan and the medals of the national honorary title to three other medical experts. They have all been on the frontlines in the battle against covid-I9 in China and have been responsible for proposing epidemic prevention and control protocols that saved many lives.

    Speaking at the event, Zhong pledged to cooperate with colleagues around the country and the world to continue working on tracing virus sources, blocking transmission routes, and developing rapid diagnosis, medicines and vaccines.

    Early on in the COVID-19 outbreak, China implemented intense measures to keep people physically distant and other restrictions in an attempt to slow the spread of the coronavirus that causes the disease.
    Inspite of global outcry and resistance those measures succeeded.

    These extraordinary measures ensured that in less than a month, the daily number of new cases in China leveled off, and has since slowed to a trickle. Evidently the reduction of contacts among the population is what has really abated the epidemic in China.

    The Chinese success is because the measures were stricter, which gave the virus fewer opportunities to jump to a new person.

    As President Xi said during the event, the Chinese government adopted “extraordinary measures” to tackle the COVID-19 epidemic, and had made a commitment to ensuring that people’s lives and health were given first priority.

    China has effectively curbed the spread of the virus and life has significantly returned to normal across China.

    It is also significant to note that having successfully contained the outbreak, China is now focusing its efforts somewhere else which is the global efforts towards finding an effective vaccine for the virus.

    The arrow head in the research team for the development of a vaccine for COVID-19 in China is Chen Wei who during the award ceremony at the Great Hall of the People was conferred with the National Honorary Title of the “People’s Hero” for her work that has ensured that China became the first in the world to enter phase-two clinical trials in April.

    Remarkably the vaccine developed by her team is already undergoing phase three clinical trials. China may actually become the first country in the world to produce an effective vaccine against the virus.

    The Chinese triumph over COVID-19 presents opportunity for the rest of the world to learn and get a handle on the spread of COVID-19.

    Rather than empty rhetoric and misinformation about the virus, the world must come together in solidarity to fight the virus. Unilateralism is not going to help anybody at this point in time. A multilateral approach that sees COVID-19 as a global problem demanding a global solution is the only way to go.

    When some countries act with a single purpose of mind the result is disaster like what we are currently experiencing in some parts of the world. There is need for greater cooperation between rich countries and poor countries so that no one is left behind. A situation whereby some rich countries would use their financial muscle to edge out poor countries from access to future vaccines is not in the interest of global peace and prosperity and a renunciation of our common humanity.

    Unfortunately those that have been largely affected by the virus are the most vulnerable, in our societies. While the rich can afford to pay for the most expensive treatment money can buy. The poor as always are bearing the brunt of the outbreak. Why some countries have put measures in place to give universal coverage for all those affected by the virus, many others have monetized treatment. The consequence is that if you don’t have money you may not be able to get the right treatment.

    China has shown that with committed and an all-inclusive leadership COVID-19 is not a death sentence. By its action the Chinese government was able to give practical expression that government exists to serve the people.

    This concept was well capture by president Xi during the award ceremony, “We are willing to do whatever it takes to protect people’s lives!” he said.

    Xi lauded the Chinese people for uniting as one and commended the heroes emerging from all walks of life amid the epidemic.

    At the international arena, China has taken up the leadership challenge and has successfully spearheaded one of the most intensive and wide-ranging emergency humanitarian assistance the world has witnessed in recent times.

    It is on record that between March and September this year, China exported 151.5 billion masks, 1.4 billion protective suits, 230 million goggles and 209,000 ventilators to support the global fight against COVID-19.

    China twice donated funds to the World Health Organization (WHO) totaling 50 million U.S. dollars and has sent medical expert teams to 32 countries around the world.

    Evidently, the Chinese government has not only honored its deserving citizens who have been at the frontlines in combating COVID-19, it has also through its actions shown that this virus can be defeated, the rest of the world really need to swallow its pride and learn from the Chinese experience.

  • Mass Exodus Of Doctors Looms In Kogi

    Mass Exodus Of Doctors Looms In Kogi

    From Noah Ocheni, Lokoja

    Against the alleged poor remuneration of medical Doctors in  Kogi State Civil Service, some Doctors have resigned their employment to seek greener pastures in other states.

    Kogi State chairman of the Nigeria Medical Association, (NMA), Dr Omakoji Oyiguh disclosed this on Wednesday, at a familiarization visit to the Kogi State Council of Ulamau.

    Dr Oyiguh who took over the mantle of leadership of leadership of the association last month lamented the sympathetic conditions of service of the medical doctors in the state.

    The chairman who expressed worries over this ugly development, however, urged the state Government to give priority attention to the welfare of health workers to prevent mass exodus of doctors from the state’s civil service.

    ”The issue of strike is not what I want my own administration to welcome. I would want to be very proactive in discussing with government to ensure that things do not reach the level where doctors will be frustrated to go on strike. This will create crisis in the health system of Kogi State.”

    ” Salaries have been revised over and over since 2009, 2014 and now there is minimum wage. Kogi state is still at the lowest level of 2004. So, the doctors are not happy that their salaries compared to their counterpart in FMC and other states is about half of their colleagues.”

    “As at yesterday, four doctors left the service of the Kogi State Government. So they are leaving en-mass and we cannot afford to say nothing is wrong. Things are going wrong and and I’m not happy this is also happening under my leadership. We can’t count the numbers of doctors that have quit the services of the state. This does not speak well of the confluence state. Am just two months old in this office.” Chairman lamented.

    “This cannot continue. I just have to cry out now. Whatever the governor can do, to avert further loss of these experienced doctors to other state, he should please do it before things gets out of hand. As he is celebrating his victory at the supreme court, he should extend that celebration to bring smiles to the faces of doctor’s in the service of the government of Kogi State.”

    ” The resident doctors at the Kogi state specialist hospital are on strike as I speak. It is not only in Kogi State but the entire nation. Their claims are legitimate. The government complained that they don’t have a lot of money to be able to deal with issues. But if you made promises in the course of this pandemic, it is important they keep to it.”

    He however lamented on the continuous closure of Federal Medical Center, FMC, Lokoja, adding that many families have lost their loved one’s in the state since they could not afford the bills of private hospitals when their relatives are sick and need treatment.

  • Kano Hisbah arrests 648 for street begging

    Kano Hisbah arrests 648 for street begging

    Arrests 416 female, 232 male


    From Ujah Simon, kaduna

    The Kano State Hisbah Board has arrested 648 suspected beggars in Kano metropolis for allegedly violating the law on ban of street begging from February till date.

    The Public Relations’ Officer (PRO) of the board,  Lawan Ibrahim, said that the the suspects were arrested at the Bata Area of Murtala Muhmamed way, Nasarawa Hospital, Railway Station and Yahuza Suya junction in the city.

    He said those arrested are 416 females and 232 males. Ibrahim said the board will continue to arrest beggars who refuse to abide by the law .

    “We will make Kano streets beggar-free.

    ”Those arrested have been screened and those who were first time offenders 

    will be handed over to their relatives.

    “Those who are not first time offenders would be charged to court, ” he said

  • How Benue’s most wanted criminal, “Gana” was killed by soldiers

    How Benue’s most wanted criminal, “Gana” was killed by soldiers

    Abel Leonard/ Abigel ude Benue

    The Nigeria Army has confirmed the killing of Mr Terwase Akwaza, alias “Gana,” the ‘most wanted criminal’ in Benue state.

    The Commander, 4 Special Forces Command, Doma, Nasarawa state, Maj. -Gen. Moundhey Ali, told newsmen Tuesday that Gana was killed at a roadblock mounted by the Army along Gbese-Gboko-Makurdi road following exchange of gunfire.


    The Nigeria Army has confirmed the killing of Mr Terwase Akwaza, alias “Gana,” the ‘most wanted criminal’ in Benue state.

    The Commander, 4 Special Forces Command, Doma, Nasarawa state, Maj. -Gen. Moundhey Ali, told newsmen on Tuesday that Gana was killed at a roadblock mounted by the Army along Gbese-Gboko-Makurdi road following exchange of gunfire.

    Daybreaknews reports that the Benue state government had in 2015 granted amnesty to over 500 persons including Gana, who were terrorising parts of Benue and Taraba states, but most of them relapsed into criminality.

    Gana was later in 2017, declared wanted by the Police while the Benue state government placed a N10 million bounty on him.

    According to Ali, the army has recorded another breakthrough in their efforts to rid the country of the activities of bandits, terrorists and other criminal elements.

    He said: “At about 12:00 hours today (Tuesday), we received strategic information on the movement of the dreaded bandit Terwase Akwaza Agbadu AKA Gana along Gbese-Gboko-Makurdi road.

    “Troops of Operation ‘Ayem Akpatuma III’ moved swiftly and mounted snap roadblocks along the routes.

    “At about 13:00 hours, there was a meeting engagement with the convoy of Gana, a shoot out ensued and the bandit was killed.”

    The Commander also said that 40 armed members of Gana’s gang were captured during the operation.

    He said the captured gang members were in Army custody and would be handed over to the appropriate authority for prosecution.

    Ali also disclosed that several rifles, pump action guns, ammunition, charms and explosives among other items were recovered from the gang.

    He said Gana’s corpse had been deposited in an undisclosed hospital mortuary.