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NCP HITS GROUND RUNNING, SETS UP COMMITTEE ON RESTRUCTURING OF BANK OF AGRICULTURE
NCP HITS GROUND RUNNING, SETS UP COMMITTEE ON RESTRUCTURING OF BANK OF AGRICULTURE
*Approves completion of Zungeru hydroelectric power plant concession
*Ratifies NCP standing committees
By: Our Reporter
In a bid to ensure better service delivery in line with the Renewed Hope Agenda of the Tinubu administration, the National Council on Privatization (NCP) has set up an ad hoc committee to fast-track the restructuring and resuscitation of the Bank of Agriculture (BOA).
The Vice President, Sen. Kashim Shettima, who chaired the maiden meeting of the reconstituted NCP at the Presidential Villa, Abuja, emphasised the importance of the tasks before the new Council, particularly the rejuvenation of BOA, among others.
Speaking after the presentation of the agenda and matters arising by the Director General of the Bureau of Public Enterprises (BPE), Dr Alex Okoh, the VP listed the composition of the ad hoc committee, saying a lot will depend on the decisions of the Council in the months ahead.
“We have to make some far-reaching decisions on the restructuring of the Bank of Agriculture because the bank will be critical to the realization of the Renewed Hope Agenda of the Tinubu administration. It is very important for us and for this administration,” he noted.
According to the Vice President, the Finance Minister, Mr Wale Edun will Chair the ad hoc committee, while members include, Minister of Agriculture and Food Security, Sen. Abubakar Kyari; Minister of Budget and Economic Planning, Sen. Atiku Bagudu; CBN Governor, Dr Yemi Cardoso; Rep of the Ministry Of Finance Incorporated (MOFI); Chairmen of the NCP Technical and Legal Committees; a member of the NCP, Alhaji Mohammed Mustapha Bintube, and the DG BPE will serve as Secretary.
VP Shettima urged the committee to come up with a roadmap for the resuscitation of the BOA, among other resolutions.
The Vice President had earlier in his opening address set the tone for the deliberations, urging members to take every task seriously. “We will be meeting more frequently because we have to support the President to execute the Renewed Hope Agenda,” he noted.
The Council also approved the completion of the concession of the 700MW Zungeru Hydroelectric Power Plant and particularly directed the opening of a dedicated account at the Debt Management Office for the payment of the concession fees by the concessionaire.
Vice President Shettima directed the CBN governor to commence the opening of the account at the DMO as proposed by the BPE.
Yet another major decision taken at the meeting was the ratification of constituted standing committees for the Council, comprising the Technical, Stakeholder Engagement, Finance and Legal committees.
Also approved at the maiden NCP meeting was the 2024 work plan of the Bureau of Public Enterprises (BPE) covering its privatization activities and participation in international forums to attract interest in the country’s privatization programme.
Present at the meeting were the Minister of Finance and Coordinating Minister for the Economy, Mr Wale Edun; Minister of Agriculture and Food Security, Sen. Abubakar Kyari; Minister of Budget and Economic Planning, Sen. Abubakar Bagudu; Minister of Steel Development, Shuaibu Audu; Minister of Transportation, Sen. Sa’idu Alkali; CBN Governor, Dr Yemi Cardoso, and Chairman of the reconstituted Technical Committee, Mr Oye Odukale, among other Council members.
NCP HITS GROUND RUNNING, SETS UP COMMITTEE ON RESTRUCTURING OF BANK OF AGRICULTURE
News
Cuba Blames U.S. Sanctions for Deepening Energy Crisis, Responds Cautiously to Reported $100m Aid Offer
Cuba Blames U.S. Sanctions for Deepening Energy Crisis, Responds Cautiously to Reported $100m Aid Offer
By: Michael Mike
The government of Cuba has intensified accusations against the United States over the island’s worsening electricity and economic crisis, while cautiously welcoming reports of a proposed $100 million American aid package amid growing humanitarian concerns.
In separate statements issued this week, Cuban President Miguel Díaz-Canel and government officials argued that the country’s severe power shortages, fuel scarcity, and economic hardship are direct consequences of decades-long U.S. sanctions and what Havana described as an increasingly aggressive “energy blockade.”
The latest developments come as Cuba experiences one of its most difficult periods in recent years, marked by prolonged blackouts, shortages of food and medicine, rising inflation, and mounting public frustration.
Díaz-Canel said the situation affecting Cuba’s National Power System had become “especially tense,” with authorities forecasting a deficit of more than 2,000 megawatts during peak evening demand.
According to the Cuban leader, fuel shortages alone were responsible for preventing the generation of at least 1,100 megawatts of electricity, significantly worsening blackouts across the country.
He accused Washington of deliberately obstructing fuel supplies to Cuba by threatening sanctions and punitive measures against countries and companies willing to trade with Havana.
“This dramatic worsening has a single cause: the genocidal energy blockade that the U.S. has imposed on our country,” Díaz-Canel declared.
The Cuban president argued that recent improvements in electricity supply during April demonstrated the direct relationship between fuel imports and power generation capacity.
He noted that the arrival of a single fuel tanker — out of the eight Cuba reportedly requires monthly — temporarily reduced electricity deficits and mitigated blackouts, though outages did not disappear entirely.
Díaz-Canel further accused sections of the U.S. media and political establishment of attempting to portray Cuba’s economic crisis as solely the result of government mismanagement while ignoring the impact of sanctions and economic restrictions.
According to him, neither the decades-old U.S. embargo nor the additional sanctions imposed during the administration of former President Donald Trump had succeeded in overthrowing the Cuban Revolution.
He alleged that more recent executive measures targeting fuel supplies, foreign trade, and investment in Cuba were specifically designed to increase suffering among ordinary citizens and provoke unrest against the government.
Despite the criticism, Havana has also reacted cautiously to reports that the United States Department of State had formally proposed an aid package valued at $100 million for Cuba.
In a separate government statement, Cuban authorities said it remained unclear whether the proposed assistance would come in the form of direct financial support or material aid such as fuel, food, or medicine.
The Cuban government said it was prepared to consider foreign aid offered in good faith and expressed openness to working with the Catholic Church in implementing humanitarian support efforts.
“We are willing to hear the details of the offer and how it would be implemented,” the statement said, while warning against any attempt to use humanitarian assistance for political leverage.
Havana maintained that the most meaningful support Washington could provide would be the easing of economic, commercial, financial, and energy restrictions imposed on the island.
Cuban officials argued that sanctions had intensified “as never before” in recent months, severely affecting nearly every sector of the economy and worsening living conditions for millions of citizens.
The latest exchange reflects the complicated and often confrontational relationship between Havana and Washington, which has remained strained for more than six decades despite intermittent attempts at diplomatic rapprochement.
While Cuba insists that U.S. sanctions are the central driver of its current crisis, critics of the Cuban government continue to point to structural inefficiencies, state control of the economy, and policy failures as major contributors to the country’s prolonged economic difficulties.
Nevertheless, the apparent willingness of both sides to discuss humanitarian assistance suggests a potentially significant, though cautious, opening for limited engagement amid escalating hardship on the island.
Cuba Blames U.S. Sanctions for Deepening Energy Crisis, Responds Cautiously to Reported $100m Aid Offer
News
Troops Arrest Suspected Gunrunner in Taraba State
Troops Arrest Suspected Gunrunner in Taraba State
By: Zagazola Makama
Troops of Operation Whirl Stroke (OPWS), in collaboration with Defence Intelligence Agency operatives and local vigilantes, have arrested a suspected gunrunner in Ardo-Kola Local Government Area of Taraba State.
Security sources said the arrest was made at about 7:45 a.m. on May 13 during an intelligence-led operation at Iware community in the area.
The suspect was reportedly apprehended following credible intelligence linking him to arms trafficking activities within the Amaseyo general area.
Preliminary interrogation revealed that the suspect was allegedly involved in illegal arms dealing, prompting his immediate arrest by the joint security team.
The suspect is currently in custody and undergoing further investigation, while security agencies say efforts are ongoing to dismantle arms trafficking networks operating within the state and surrounding areas.
Troops Arrest Suspected Gunrunner in Taraba State
News
Troops Rescue Kidnap Victim During Patrol in Kogi
Troops Rescue Kidnap Victim During Patrol in Kogi
By: Zagazola Makama
Troops of the Nigerian Army under Operation MESA have rescued a kidnap victim abandoned by suspected terrorists along the Obajana–Jakura–Tajimi axis in Lokoja Local Government Area of Kogi State.
Security sources said the rescue operation was carried out at about 9:00 a.m. on May 13 by troops of 12 Brigade during a fighting patrol along the old Obajana–Jakura–Tajimi road.
According to the report, the troops discovered the victim after suspected kidnappers abandoned him while fleeing from the advancing security personnel.
The rescued victim was subsequently reunited with his family after the operation.
Security patrols and clearance operations have continued along the route and adjoining communities as part of ongoing efforts to combat kidnapping and other criminal activities in the area.
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