NEWS

Federal Govt to sell National Arts Theater, TBS, others to finance budgets

Published

7 years ago

November 28, 2017

Federal Govt to sell National Arts Theater, TBS, others to finance budgets

The Director General of the Budget Office, Ben Akabueze, yesterday, said the Federal Government has concluded plans to sell key national assets in a bid to generate sufficient revenue to finance Nigeria’s annual budgets between 2018 and 2020.

Akabueze disclosed this in Abuja at a public hearing organised by the House of Representatives joint committees on finance, appropriation, loans, debts and aids and legislative budget and research on the 2018-2020 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).

He explained that proceeds from sales of the key government assets, which include National Integrated Power Plant (NIPP) plants, National Parks, as well as the National Arts Theatre and Tafawa Balewa Square in Lagos are to be deployed as financing items for the 2018 budget.

Akabueze also told the Committee that the power generation plants constructed by the Niger Delta Power Holding Company (NDPHC) under the NIPP on behalf of the government would be sold.

Some of the NIPP expected to be sold include Alaoji Power Station in Abia State, a 1074 Mega Watts (MW) capacity plant; the 561MW capacity Calabar Power Station; the Egbema Power Station, a 338MW simple cycle gas turbine plant and Geregu II Power Station in Kogi State with 434 MW capacity.

Others include: the 450MW Ihovbor Power Station in Benin City; Olorunsogo Power Station, a 336MW plant located at Olorunsogo; Olorunsogo II Power Station with combined cycle gas turbine of 675 MW capacity; the Omoku II Power Station in Omoku with 225 MW capacity. Also to be sold are Omotosho II Power Station with 450 MW capacity and Sapele Power Station with 450 MW capacity.

Other items to be sold are non-core assets from the mines and steel sector, houses, and estates.

He said proceeds from privatisation of key government assets were factored in the 2018 budget, to finance especially the budget deficit of N2.005 trillion, much of which will be financed through domestic and foreign.

According to the Director General, the country was generating too little revenue; hence it was expedient to borrow.

He added that the reverse would be the case if actually there were more revenue collectibles.

“We are generating too little revenue, hence we are borrowing. If we generate enough, borrowing ratio will drop,” he said.

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ENTERTAINMENT

“I Was Trading My Scripts For Film Roles” – Omoni Oboli

Published

3 days ago

September 13, 2024

Reporter

Omoni Oboli used to trade her scripts for film roles | fab.ng

Nollywood filmmaker Omoni Oboli disclosed that she exchanged her scripts for acting roles early in her career, which motivated her to pursue directing.

In an interview with Radionow 95.3 FM, Oboli recounted the challenges she faced at the start of her filmmaking journey, including giving away her screenplays for free and trying to direct her own films.

“I was trading my scripts, I’d say you know what, just take it, don’t pay me. Just give me a role in the film. So, I started to do that. But then I’ll watch the film and I realised, Okay it’s not quite what I had in my head when I was writing cos I see what I’m writing, I write in pictures. I see what I’m writing, so when I’m watching the movie it’s so different. Not to say that it wasn’t good because no two directors will direct the same script in the same way. So I said to myself, if my stories are going to have my DNA, then I’m going to have to direct them myself,” she said.

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A post shared by Radio Now 95.3 FM Lagos | News (@radionow953fm)

Omoni Oboli emphasized that she felt hesitant at the beginning of her directing journey. She lacked confidence but mustered up the courage to pursue her dreams.

“And it was a scary thought, really who do you think you are to come and direct a film? Like who are you again? You know it was so scary, but then I said to myself, Warri no dey carry lass na. Wwetin dem get wey I no get? I was like, I’ll do this thing. So I started understudying directors, like I’m acting on set but I’m watching the director closely. And I said you know what? Maybe I need some formal education on this. So I went to the New York Film Academy for a short course,” she added.

Omoni Oboli has directed several films, including “Moms at War,” “Last Year Single” (currently streaming on Netflix), and “The Uprising: Wives on Strike 3,” the third installment of the “Wives on Strike” franchise, which is set to premiere in cinemas this October.

Get more updates here.

BREAKING NEWS

Patoranking Reportedly Loses Sister & Husband Die In Gas Explosion

Published

3 days ago

September 13, 2024

Reporter

Patoranking reportedly loses his sister & husband | fab.ng

The tragic death of his younger sister, Chioma, and her husband, George, in a gas explosion at their home devastated Nigerian Afrobeats artist Patoranking.

The Ebonyi Police Command has confirmed that a gas cylinder explosion, not an inverter battery, caused the deaths of Mr. and Mrs. George Onuabuchi. This happened in Abakaliki, the capital of Ebonyi State. According to DSP Joshua Ukandu, the state Command’s spokesperson, the tragic incident took place on August 25.

Speaking to the News Agency of Nigeria (NAN) on Thursday, Ukandu explained the preliminary investigations. He revealed a gas leak triggered the explosion, leading to the couple’s deaths. Also, he emphasized that early reports suggesting an inverter battery malfunction were incorrect. Further, the gas cylinder was identified as the actual cause of the fatal blast.

“It happened on the waterworks axis in Abakaliki on August 25. The residents living around the scene called the attention of our personnel who visited the place but the couple has already been taken to hospital.

“It’s very unfortunate that both finally died. The wife, Chioma died sometime in August while the husband died this month, September.

“We gathered that the wife was a younger sister to the popular Nigerian Afrobeat singer, Patoranking.

“There are no much details because the victims could not survive to tell the story. So, what killed them was gas and not inverter explosion,” the police spokesman explained.

A relative, who wished to remain anonymous, expressed concern about the incident to NAN. However, he described it as a distressing event that has had a negative impact on the family.

“They were young couple. They had only a child, a three-year-old son.

“Please I have more to say. I cannot say more than this. They have gone,” the relative said.

Check here for more news updates.

MUSIC

7 Unforgettable Songs By Mohbad

Published

3 days ago

September 13, 2024

Adaeze Okechi

7 Unforgettable Songs By Mohbad | fab.ng

Mohbad, a man of influence, seamlessly blended Fuji, Afrobeats, and Hip Hop to create songs that reflected his unique artistry and genuine spirit. His songs, ranging from Street Hop anthems to introspective narratives about life’s challenges, offered both joy and comfort to his audience.

On September 12, 2023, the music world was saddened by the tragic news of Mohbad’s passing. A year later, artists and fans continue to pay tribute to this talented musician who captivated listeners with his vibrant music.

In commemoration of his one-year remembrance, here are seven unforgettable songs that showcase the exceptional musical talent of Mohbad:

Rexxie feat Mohbad – Ko Por Ke (2020)

One of the most iconic songs in the history of Street-Hop, “Ko Por Ke” was a cultural phenomenon that left an indelible mark on Nigerian music. The song’s infectious rhythm and Mohbad’s captivating lyrics resonated deeply with listeners, propelling him to mainstream success and showcasing his extraordinary talent.

Marlian Anthem (2020)

Signed to Marlian Records during the peak of Naira Marley’s influence, Mohbad created “Marlian Anthem,” a mesmerizing anthem that embodied the movement’s rebellious spirit and challenged societal norms. However, the relationship between Mohbad and Marlian Records eventually soured, adding a bittersweet layer to the song’s significance.

Holy (2020)

Taken from his debut EP “Light,” “Holy” offered a glimpse into Mohbad’s personal journey as he embraced his imperfections with a refreshing honesty. The song’s uplifting message encouraged listeners to accept their own flaws and find strength in vulnerability.

Feel Good (2021)

Demonstrating his versatility and musical prowess, Mohbad delivered a Neo-Fuji reinterpretation of James Brown’s classic “I Feel Good.” The song’s infectious energy and Mohbad’s unique style made it a massive hit, further solidifying his position as a distinctive talent in the Afrobeats scene.

Peace (2022)

In “Peace,” Mohbad candidly expressed his frustrations and longing for tranquillity amidst the challenges he faced in his career. The song’s raw emotion and powerful lyrics resonated deeply with fans, offering a glimpse into the artist’s inner struggles.

Ask About Me (2023)

Following his highly publicized departure from Marlian Records, Mohbad made a triumphant comeback with “Ask About Me.” The defiant song reaffirmed his determination to pursue his dreams and showcase his undeniable talent.

Chike feat. Mohbad – Egwu

Tragically, just before his untimely passing, Mohbad collaborated with singer Chike on the joyful single “Egwu.” The song’s infectious energy and Mohbad’s brilliant performance quickly made it a mega-hit. “Egwu” served as a testament to Mohbad’s ability to spread joy and positivity through his music.

Check out more updates about Mohbad here.