After
promising to implement the UNEP Report, President Buhari has approved the
Governing Council and Board of Trustees for UNEP Report on Ogoniland -This
means that Ken Saro Wiwa and other sons of Ogoniland who fought hard for
environment justice did not fight in Vain Following the historic Presidential
launch of the Implementation of the UNEP Report on June 2, 2016, in Bodo,
Rivers State, President Buhari has approved the composition of the Governing
Council and Board of Trustees, key elements of the governance structure
required for the Clean up of Ogoniland. This is in line with Mr. President’s
promise to implement the UNEP Report. The Hon. Minister of Environment, Amina
Mohammed said in a statement that President Buhari has approved the
inauguration of a 13-person Governing Council and a 10-person Board of Trustees
(BOT). This governance structure ensures inclusiveness, accountability,
transparency and sustainability of the Clean up exercise. Mrs Amina
Mohammed, says government will no longer tolerate the abandonment of projects
by contractors. Addressing the concerns raised by Nigerians about the perceived
slow pace of work, the Minister said, “Nigerians have a right to voice their
concerns. We have responsibility to deliver. The launch was the 1st step in a
30-year journey. We continue to made strides toward implementation. “We ask for patience as
we lay solid foundations for the clean up. The context is complex and
stakeholders are diverse. All must be taken along. His Excellency, President
Buhari remains steadfast in his conviction to see Ogoniland and other parts of
the Niger Delta cleaned up. My team at Federal Ministry of Environment is
actively working collaboratively with Ministries of Petroleum Resources, Niger
Delta, NDDC and key stakeholders to see that the Promise of His Excellency is
kept and we stay clean after the clean up,”. The Minister also reiterated the need to see the
clean up as a collective responsibility and urged all the Niger Delta
communities especially the Ogonis to support the remediation and restoration
efforts of the government. “The choice is for you to keep your environment
clean and nurture the Niger Delta back to its lost glory. The beginning of this
clean-up exercise is clear evidence that Ken Saro Wiwa and other sons of
Ogoniland who fought hard for environmental justice did not fight in vain.”
“Let this mark the beginning of the restoration not just of the environment of
Ogoniland, but of peace and prosperity to the great land and people of
Ogoniland.” The Clean up operation – which the UNEP report said could be the
“most wide-ranging and long term oil clean-up exercise” – aims to restore
drinking water, soil, creeks and important ecosystems such as mangroves. The UN
report estimated that the clean up of Ogoniland could take up to 30 years where
the initial remediation will take 5 years and the restoration another 25 years.
Nigeria’s foreign exchange reserve fell to $25,780,765,483 (25.78 billion) as of August 16, the lowest we have seen since 2005. The drop was down 2.11% from a month ago. The Nations external reserves dropped below $26 billion for the first time on the 5th of August 2016 after it closed at about $25,971,610,949. In fact, the external reserves has dropped by about $480 million dollars in August alone compared to just $100 million in the whole of July. Ironically, the current balance of $25.9 billion is worth about 80% more than what it was in Naira following the depreciation of the naira after it was floated. The CBN has in the past few days ramped up sales of dollars at the interbank in the hope that it will create liquidity in a market that is yawning gape to swallow forex after nearly almost two years of intense rationing by the CBN. The Naira weakened to its lowest ever at the interbank after it closed at about N362.5/$1 in midday trading. The Naira will eventua...

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