The Nation April 25, 2012

Page 1

Nigeria’s widest circulating newspaper

News UI shut as students’ protest enters second day Sports Brave 10-man Chelsea stun Barcelona to hit final Business Twenty years after, FMBN records its first profit

P58 P57 P11

www.thenationonlineng.net

TR UTH IN DEFENCE OF FREEDOM TRUTH

VOL. 7, NO. 2104 WEDNESDAY, APRIL 25, 2012

N150.00

Osun awards N17.5 b road contracts

I

•Aregbesola...yesterday

PHOTO: NIYI ADENIRAN

T was meant to sympathise with The Nation on the April 14 fire that consumed its Photo Section. But Governor Rauf Aregbesola’s visit yesterday to this newspaper’s Lagos Mainland headquarters was more than that. It was an opportunity for the Governor to explain his battle to renew the State of Osun - physically, financially and economically. The government has awarded N17.5 billion contracts for six roads, he told the management. This, he stressed, is “phenomenal”, particularly as the

For the first time in the history of Osun, we have N35 billion in the bank, waiting for use. It was through our ingenuity and financial sagacity to ensure that the money is there By Tajudeen Adebanjo, Staff Reporter

state is not borrowing to do the job. Besides, roads are being rehabilitated across the state. Aregbesola spoke on the state of the economy when he assumed office on November

27, 2010. He said: “We met a depressed state in every sense of it - economically, judicially and physically. As a matter of fact, the state was no longer living by the time I assumed office. The state was N18.3 billion in debt, a suffocating debt which ordinari-

ly should have killed the state. The state got a short term loan that would require payment of N600 million every month from an income then – N1.8 billion from the federal and N.2 billion from Internally Generated Revenue, totaling N2 billion. That was what I met in November, 2010. We have re-negotiated the payment to N100 million monthly. If you subtract that from N600 million, you have N500 million and in a year, we have saved N12 billion, which will be injected into Continued on page 4

N1.07t subsidy: Ahmadu Ali, others to face trial NNPC told to refund N310b House clears Synopsis, Zenon New chance for 17 firms

AGONY OF EXPECTANT MOTHERS IN LAGOS

From Victor Oluwasegun and Dele Anofi, Abuja

F

ORMER Petroleum Products Pricing Regulatory Agency (PPPRA) chairman and executive secretaries (20092011) were told yesterday to get set for trial over the N1.07 trillion subsidy scandal. They will be investigated/prosecuted by anti-corruption agencies, the House of Representatives said. Former Peoples Democratic Party (PDP) Chairman Ahmadu Ali was the agency’s chairman during the period. The former PPPRA executive secretaries are: Mr. A Ibikunle (August 2009 to February 2011) and Mr. Goddy Egbuji (February 2011 to August 2011). The House also said the Auditor-General of the Federation should audit the account of the Nigerian National PeSEE troleum Corporation (NNPC) ALSO to ascertain its solvency and report back to the House

PAGES 2&3

Continued on page 4

•A group of expectant mothers on their knees, begging striking Lagos doctors to return to work...yesterday. Story on page 7

PHOTO: WALE ADEPOJU

•MONEYP14 •INVESTORSP17 •SPORTSP23 •LIFEP29 •POLITICSP43


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