With all due respect to the Honourable Minister, unless repudiated by him, this statement represents an illusion. And I fervently pray that this is not what he presents every week to the Federal Executive Committee, FEC, as progress report.

Last week, companies listed on the Nigerian Stock Exchange, NSE, were classified into three. Those who render their Annual Reports and Accounts on time, or even ahead of time; those who fail to meet the deadline by a few weeks; and those who, invariably, have to be forced to issue their reports

Back in January this year, as members of the National Assembly, NASS, returned to their duties, at the Three Arms Zone, I made the point that this year’s budget would be the fifteenth to be prepared for execution by elected officials. I also predicted that we would be fortunate to have a budget signed by the President by the end of April.

“For example, Nigeria has signed an MoU with the Democratic Republic of Congo for the importation of electricity from the Inga Dam Power Plant.” Professor Nebo, Minister of Power, PUNCH, March 25, 2014.

The report by Oyetunji Abioye, also said that “SEC investigated the lender after do Rego [the Group Executive Director of Finance and Risk] told the SEC in August that Tanoh and former Chairman, Kolapo Lawson planned to sell assets below market value. Do Rego said she was pressured to write off debts owed by a business headed by Lawson and manipulate the bank’s results. Tanoh and Lawson have denied any wrongdoing,”

The answer is simple. For years, if I had to choose one columnist to read every Sunday, and no other, it would be Olumhese. I stopped buying Guardian on Sunday when he left. Today, March 2, 2014, I just asked for Guardian, and there was Olumhese in a battle of words with Paul Nwabuikwu, spokesman for the Finance Minister. Spokesmen are echoes, not voices; they are like microphones.

“There is nothing more wasteful than doing diligently what should not be done at all.”
President Jonathan took a plane load, or more, of people to Davos, Switzerland for what was billed as the World Economic Forum, WEF. The entourage included several Ministers, some Governors, captains of industry and others too numerous to mention.

“Power failure will be a thing of the past within six months.” Late Chief Bola Ige, Federal Minister of Power and Steel, June 1999.

It has become necessary to remind Nigerians that our unrealistic expectation about the Nigerian power sector is not a recent occurrence; in fact, it predated the Cicero of Esa Oke, as Ige was then known.

The management of Federal, as well as states funds, since 1999 had been one great swindle perpetrated by all the governments without exception. But, I had long restricted myself to the Federal government because the unitary constitution handed to us by General Abdusalami Abubakar, on his way out of office, gave so much power to the Federal government.

“Against stupidity, the gods themselves struggle in vain.” Fredrick Von Schiller, 1759-1805. (VANGUARD BOOK OF QUOTATIONS p 235).