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Former Nigerian Interim President, Ernest Shonekan Dies At 85

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Chief Ernest Shonekan
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Chief Ernest Shonekan, who headed the Interim National Government that succeeded the military regime of General Ibrahim Babangida, has died.

He died on Tuesday, January 11, at a hospital in Lagos.

The news of his death was confirmed to Channels Television by the Ogun State government.

Shonekan was the interim head of the Nigerian Government between August 26, 1993, and November 17, 1993.

He was ousted in a coup led by late General Sani Abacha.

Shonekan was a British-trained lawyer, industrialist, and former Chief Executive of the United African Company of Nigeria Plc (UAC) before he was appointed as Interim President of Nigeria by General Ibrahim Babangida in 1993.

He was born on May 9, 1936, in Lagos into the family of an Abeokuta-born civil servant. He was educated at CMS Grammar School and Igbobi College.

He received a law degree from the University of London and was called to the bar. He later attended Harvard Business School.

Shonekan joined the UAC in 1964. He rose through the ranks in the company and was promoted to an assistant legal adviser. He later became a deputy adviser and joined the board of directors at the age of 40.

He was made chairman and managing director in 1980 and went on to cultivate a wide array of international business and political connections.

On January 2, 1993, Shonekan assumed office as head of the transitional council and head of government under General Babangida.

At the time, the transitional council was designed to be the final phase leading to a scheduled handover to an elected democratic leader of the Third Nigerian Republic.

Babangida later resigned from office in August 1993, following the annulment of the 12 June presidential election. He had signed a decree establishing the Interim National Government led by Shonekan who was subsequently sworn-in as Head of State.

Three months into his administration, Shonekan was overthrown in a palace coup by Abacha in November that year.

In 1994, he founded the Nigerian Economic Summit Group an advocacy group and think-tank for private sector-led development of the Nigerian economy.

Since then, Shonekan went on to feature prominently as an elder statesman.

At the time of his death, he was the third oldest surviving Nigerian Head of State after Queen Elizabeth II and General Yakubu Gowon.

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Economic: Osinkolu Assures Nigerians Of Better Days Ahead 

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Dr Olusegun Osinkolu
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A financial expert, Dr Olusegun Osinkolu has appealed to Nigerians to exercise patients with the economic team put together by President Bola Tinubu, noting that relief will soon come.

Osinkolu assured that Nigeria will soon witness a great turn around by the time the economic team swings into full action.

“we will heave a sign of relief soon as the story would change for better”.

The Ayede-Ekiti born All Progressives Congress (APC) Chieftain in a statement issued on Friday and released to newsmen, described the appointments of the Central Bank of Nigeria Governor, Yemi Cardoso and Minister of Finance, Wale Edun as a round peg in a round hole.

Osinkolu, who was a banker of repute, described them as gentlemen and men of integrity, who are masters on their field of appointments.

He commended President Bola Tinubu for the appointments, describing it as well deserved and has raised the bar and shown that competence is the parameter for public service.

“I want to formally thank President Bola Tinubu for considering the duo of the CBN Governor and Finance Minister for their appointment.

I commend his open-mindedness to embrace and usher in vibrant patriots into the national mainstream politics.

“I wish to state that their appointment is not only well deserving, but also falls in line with Mr. President’s penchant for talent discovery that has characterised his bold and giant strides in Lagos state and the nation at large.

“I affirm that this particular appointment is a round peg in a round hole,”he stated.

He urged the duo of the CBN Governor and finance minister to focus on the vision and mission of Mr President, by refocusing through their short, medium and long term measures.

He assured Nigerians that the CBN and it’s Finance ministry under their watch will operate transparent monetary policies, while his administration will not tolerate and work towards correcting the errors made by past administrations.

He further urged the duo to comply with all constitutional duties and ensure that financial policies of the country are of international standard and in support of the Tinubu-led administration.

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Senator Natasha lauds NDDC, NLNG partnership on local content

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Senator Natasha Akpoti-Uduaghan
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Senator Natasha Akpoti-Uduaghan, lawmaker representing Kogi Central senatorial district has commended the pact between Niger Delta Development Commission (NDDC) and Nigeria LNG Limited (NLNG), to develop local content capacity.

Both NDDC and NLNG recently signed a Memorandum of Understanding (MoU) to leverage shared aspirations and collaborate on diverse fronts in the delivery of sustainable development projects in the region.

Reacting, Senator Natasha urged NDDC to consider the need to be the primary recruiters of their trained workforce to achieve effective service delivery.

She gave the charge on Thursday during an interactive session between Senate Committee on Local Content and the NDDC Managing Director, Samuel Ogbuku.

As the Chair, Local Content Committee, Natasha tasked the NDDC on the need to not only build capacity and equip their workforce but also engage them efficiently.

“NDDC should consider being the primary recruiters of their trained workforce. Artisans or skilled professionals such as ICT workers can be absorbed by NDDC contractors, which in turn, will enable the commission reach the most vulnerable and neglected youth,” she said.

She also pledged to partner with NDDC on building a database of artisans within the country to strengthen the workforce and by extension achieve microeconomic growth for Nigeria.

“Local Content Committee intends to deploy innovative thinking for positive results, thus, we are building a database of carefully profiled artisans who have been trained by NDDC, SMEDAN, etc.; and work modalities to have the oil & gas companies, as well as government contractors, recruit from the pool of verified workforce.

“This would help curb unemployment by keeping the jobs locally. Such a project would also help the Local content board, NDDC and other agencies monitor and evaluate the performance of our collective capacity-building efforts towards achieving a common microeconomic growth for Nigeria and Africa at large,” she added.

In his remarks, the NDDC MD accepted her proposal and looks forward to a synergy with the Local Content Committee to develop strategies, and in turn, engage trained workforce for employment opportunities.

 

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Update: 2024 Appropriation Bill Passes Second Reading At House Of Reps

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House of Rep in Session
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The House of Representatives has passed the N27.5 trillion 2024 budget for a second reading.

The House leader, Julius Ihonvbere, on Thursday, November 30, while leading the debate on the general principles of the budget, commended President Bola Tinubu.

Ihonvbere noted that national security and education which got significant allocations will be enhanced if implemented.

He said, “Nigeria will be more secure with the allocation to defence and security. As a teacher, I am impressed by the emphasis on basic education. I am sure that education will be better off this time.”

 

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