Hot Updates and Education Portal: Governor Adams Oshiomhole

See How Excited Ngozi is Over Her New Job.

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Ex-President Goodluck Jonathan’s Minister of Finance & Coordinating 
Minister of the Economy, Dr. Ngozi Okonjo-Iweala, on Monday, expressed 
joy over her new job to join the board of Gavi, the Vaccine Alliance, 
founded by Bill and Melinda Gates. 
he former finance minister, had also announced that she will also be 
joining US investment bank, Lazard’s sovereign advice division.
 
Okonjo-Iweala who tweeted via her Twitter handle, @NOIweala said:
 “I’m excited to join GAVI to immunize 300 million more children in the 
next five years and save 5 million to 6 million more lives.”

The new portfolios, however, follow her second stint as Nigeria’s 
finance minister, which ended in May after the Goodluck Jonathan-led 
government was voted out of office.

Okonjo-Iweala has spent the past three decades working on fiscal 
management and governance systems in Africa through 25 years at the 
World Bank, most recently as a managing director, and twice as finance 
minister in what is now the continent’s biggest economy.

She has although, recently come under sharp criticisms particularly 
by Governor Adams Oshiomhole of Edo State, over issues bordering on 
alleged corruption in the last administration.

Okonjo-Iweala has argued that her work on transparency and 
anti-corruption as finance minister under both Mr Jonathan and Olusegun 
Obasanjo has been unfairly “brushed aside.”

See How Excited Ngozi is Over Her New Job.

Ex-President Goodluck Jonathan’s Minister of Finance & Coordinating Minister of the Economy, Dr. Ngozi Okonjo-Iweala, on Monday, exp...

Second Niger Bridge Money $700m Missing, Oshiomhole Insists

Mr. Oshiomhole said in a statement by his chief 
press secretary, Peter Okhiria, that he stood by an earlier statement 
that $700 million was drawn from the sovereign wealth funds for the 
project. 
 
Governor Adams Oshiomhole of Edo State has called on a former minister 
of work, Mike Onolememen, to explain to Nigerians the whereabouts of 
$700 million (N140 billion) released for the unexecuted second Niger 
bridge project. 
 
 
 Mr. Oshiomhole said, “The 
revelation came from those who were managers of the Sovereign Wealth 
Funds and not figures manufactured by anybody”. 
“Rather than crucify Comrade Oshiomhole for the 
disclosure, former Minister of Works should direct his energy and 
explanation to the managers of the Sovereign Wealth Fund who have 
depleted the savings on the explanation that it was meant for the 2nd 
Niger Bridge,” the statement said. “They told our 
committee that about $700m dollars were taken from the Sovereign Wealth 
Fund for the Second Niger Bridge project,” Mr. Oshiomhole said. Mr.
 Onolememen had on Friday in a statement denied the allegation. He said 
Mr. Oshiomhole was misleading Nigerians with “wild and spurious” 
allegations. The former minister said, “The Federal Government of
 Nigeria, guided by the Transaction Adviser, Roughton International, 
agreed to provide a refundable Catalytic Funding of N30bn. By May 2015, 
N10bn Catalytic Funding was paid from the Federal Ministry of Works’ 
SURE-P Budget to fast-track the early and sub-structural works of the 
bridge. This implies that the successful concessionaire, JB-NSIA 
Consortium, has responsibility for the design, finance and construction 
of the project, as well as its operation.” He added that the 
total project cost is N108bn (excluding duties and Value Added Tax) with
 a completion period of about 48 months. This cost was arrived at, after
 the Bureau of Public Procurement’s review of the concessionaire’s 
submitted cost of N138bn, the former minister said. However, Mr. 
Oshiomhole said since the former minister was aware that no reasonable 
work had been done on the second Niger Bridge, he and the mangers of the
 sovereign wealth funds should simply explain to Nigeria what they did 
with the huge amount that was withdrawn for the project. “The 
real people who should apologize to Nigerians for their many sins 
against the country are those who expended so much of our resources 
without any corresponding achievements to show for it,” the governor 
said. The governor accused the former minister and the past administration of destroying existing roads rather than rehabilitate them. He
 said, “In Edo state, the Aduwawa end of the Benin-Auchi road is almost 
impassable especially during this rainy season. As we speak, erosion has
 cut off the Benin-Auchi road into two and motorists are going through 
hell passing through that road. What about Benin- Abraka road; one hell 
of a road completely abandoned and vandalized. In the name of politics, 
they came trying to impress Edo people but ended up depressing all of 
us.”

$700m Missing Governor Adams Oshiomhole Oshiomhole Insists Second Niger Bridge Money $700m Missing, Oshiomhole Insists

Mr. Oshiomhole said in a statement by his chief press secretary, Peter Okhiria, that he stood by an earlier statement that $700 million w...