•The act requires all political parties and candidates contesting in the 2022 general elections to at least two months before the elections open campaign financing accounts.
•The politicians should also establish campaign financing expenditure committee and appoint authorized persons who will manage the campaign funds.
Steve H Hanke, an American applied economist at John Hopkins University, Baltimore has berated President Muhammadu Buhari over the recent arrest of Nnamdi Kanu, leader of the Indigenous People of Biafra, IPOB.
Hanke suggested that President Muhammadu Buhari is running an authoritarian government which does not give room for criticism.
According to him, Nigeria ranks 131st out of 162 on CatoInstitute’s Human Freedom Index under the current administration
“Sleepy Buhari’s govt has arrested Nnamdi Kanu, leader of the indigenous People of Biafra movement,” he tweeted
‘#Nigeria ranks 131st out of 162 on @CatoInstitute’s Human Freedom Index. Under Buhari’s reign, no critics, no problem,” he added.
Buhari government had on Tuesday announced the re-arrest of Nnamdi Kanu who had been in the United Kingdom since 2017.
The IPOB was also arraigned before Justice Binta Nyako of the Federal High Court on Tuesday and remanded at the Department of State Service, DSS custody.
Recall that Hanke had recently mocked the Buhari government following Nigeria’s continued upsurge in the corruption Index. Daily Post
(Bloomberg) -- South Sudan is experiencing a rapid drop in crude output as producing oil blocks have hit peaks and have begun to decline, according to Ministry of Petroleum Undersecretary Awow Daniel Chuang.
Block 3 and 7 in Upper Nile have fallen to 103,000 barrels per day from an initial 120,000 bpd. Blocks 1, 2 and 4 have come down to 48,000 bpd from 53,000 bpd, he said by phone from the capital, Juba, on Thursday. Block 5A is yielding 3,000 bpd after production resumed, and is expected to reach 8,000 bpd by the end of the year.
“The only potential is block 5A, which still remains capped,” he said. “Today the production has dropped to 154,000 barrels a day from three producing areas.” It used to be as much as 180,000 barrels two years ago.
Oil shipments account for almost all of government revenues and declining reserves could spell doom for one of the world’s poorest economies. To reverse the downturn, the African nation’s government will aim to improve the recovery factor -- the extractable crude, Chuang said, without giving details. Blocks 3 and 7 have a recovery factor of only 23%, while blocks 1, 2 and 4 have 33%, he said.
“Block 3 and 7 can be increased to 35%, block 1, 2 and 4 to 45% and this will significantly increase production rates,” he said. - , Bloomberg News
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