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News Omisore under fire for threatening Aregbesola P10 Sports Eagles striker Mikel Obi’s Chelsea future in doubt P23 Business Fed Govt worried over N1.3t rice, sugar import P11 www.thenationonlineng.net
TR UTH IN DEFENCE OF FREEDOM TRUTH
VOL. 7, NO. 2103 TUESDAY, APRIL 24, 2012
N150.00
SIXTH LAGOS ECONOMIC SUMMIT (EHINGBETI 2012)
•Senator Amosun (left), Mr. Richardson, Fashola (SAN), Fayemi, Mr. Aganga and Mrs. Orelope-Adefulire...yesterday. See also page 56
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PHOTO: OMOSEHIN MOSES
Federal Govt backs Lagos’ investments drive
AGOS State got yesterday a Federal backing for its investments drive. The state will get sovereign guarantee to leverage its competitiveness in the global financial markets. A sovereign guarantee is an irrevocable commitment
By Taofik Salako, Staff Correspondent
given by a national government that an obligation will be satisfied if the primary obligor, usually a sub-national entity, defaults. Besides, a sovereign guarantee sometimes takes the form of an as-
surance by a government that certain provisions of a project agreement would be honoured. Speaking at the sixth Lagos Economic Summit (Ehingbeti 2012), President Goodluck Jonathan, who was represented by Minister of Trade and Investment Mr. Olusegun
Aganga, said the Federal Government recognised the importance of Lagos State as the commercial nerve centre and would support its quest for investments. He said the government was on the verge of completing an agreement to grant concession to Lagos State to de-
velop railway lines. The government has started working on many important roads to complement the efforts of the state government to ease traffic gridlock, he said. According to him, for Nigeria to join other major emerging economies, the partnership between the Federal
Government and Lagos State is critical, given the state’s dominance and centrality to the Nigerian economy. Noting that Lagos accounts for more than 20 per cent of the Gross Domestic Continued on page 2
N1.07t subsidy fraud: Govt panics over protest threats Police seize Fawehinmi Freedom Park in Lagos I’m not afraid of impeachment, says Tambuwal
L •Tambuwal
AGOSIANS woke up yesterday to find a team of battle-ready policemen at the Gani Fawehinmi Freedom Park in Ojota on the outskirts of the city. Their presence is belived to be the government’s reaction to the protest being planned by the Save Nigeria Group (SNG) and other activists against the alleged N1.070 trillion fraud exposed by the report of the House of Representatives ad-Hoc Committee on Fuel Subsidy.
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Members of the House of Representatives know that they are bound to face threats and resistance from many quarters. The important thing is that they will not be intimidated From Yusuf Alli, Abuja and Adebisi Onanuga
Save Nigeria Group (SNG) leader Pastor Tunde Bakare has reportedly announced that the Federal Govern-
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ment had been served a mass protest notice, if it fails to prosecute all those mentioned in the report. Besides, the cleric said the culprits should be asked to make refunds
within a specified time. He said that the civil society group has started dissecting the report and that another operation “Occupy Nigeria” is imminent, if the government fails to prosecute the culprits. The civil society group, Bakare said, met last Saturday to plan for the protest. “By Wednesday, we would come out with our findings. “But right now, we are back to the trenches,” he said. But yesterday, armed policemen Continued on page 2
•POLITICS P17 •SPORTS P23 •PROPERTY P25 •ENERGY P49 •CITYBEATS P7