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FG to Raise N746Bn from Sale of NITEL, Others
Federal government is eyeing a whopping N746.6billion privatisation proceeds this year, according to the Bureau of Public Enterprises (BPE).
Benjamin Dikki, director-general, BPE, said that his agency plan to handle a total of 23 definite transactions and another 29 prospective transactions and consequently, expect a total of N535 billion from definite transactions and N211.3 billion from prospective transaction.
The disclosure came as Vice-President Namadi Sambo yesterday assured the Senate Committee on Privatisation of federal government’s determination to ensure the success of the privatisation programme.
Dikki spoke at a media briefing in Abuja to unveil the agency’s 2014 Work Plan, and he said the bureau had proposed to handle a total of 23 definite and 29 prospective transactions within the year.
It was further revealed that the federal government intended to go ahead with the proposed privatisation of four refineries including those of Port-Harcourt (1 and 2), Warri and Kaduna and also conclude the sale of SPDC assets.
However, Dikki said the sale of the refineries would only commence after due approval by labour unions which he said had already expressed their willingness to dialogue with government to develop appropriate business model for the refineries.
“This will be followed up and should lead to the commencement of the privatisation process in 2014,” he said.
To this effect, he said the steering committtee was expected to commence work and draft an appropriate framework for privatisation which would be acceptable to all stakeholders.
The DG also said it would commence the process of executing the Guided Liquidation of the Nigerian Telecommunication Limited (NITEL) and its mobile arm, Mtel, having gotten the necessary legal requirement as well as the appointment of a liquidator.
According to him, all active staff of NITEL have now been paid their entitlements expect for some few individuals whose issues where being looked into.
Speaking further on the proposed activities for the year, Dikki said prospective transactions in the nation’s Capital Market Unit for 2014 would include an Initial Public Offer of the federal government’s 24 per cent shares in the Transcorp Hilton Hotels; appointment of privatisation advisers to carry out private placement of federal government shares in NICON Insurance and Nigeria Reinsurance; conduct a quick assessment to carry out deferred public offer of Niger Dock Plc shares and to carry out a quick assessment to offer the remaining 30 per cent of federal government shares in Egbin Power Plc to the public. Other privatisation activities slated for the year would be to obtain financial statements and other data to determine the timing of the public offer of shares in the Power Holding Company of Nigeria (PHCN) successor companies and a quick assessment to start the deferred public offer in SAHCOL.

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General News
US to Deny Applicants Saying they Fear Persecution @ Home Visas

United States has introduced further restrictions on potential asylum seekers by requiring US visa applicants to confirm they do not fear persecution in their home countries.

Donald Trump administration’s goal is to prevent individuals from using non-immigrant visas as a means to claim asylum once they reach US soil.
According to a diplomatic notice sent to all embassies and consulates this week, applicants for non-immigrant visas, including tourists, students, and temporary workers, must now affirm their safety at home to be eligible for entry.
This move is part of a broader shift in policies designed to tighten US immigration controls.
New screening procedures
Consular officers have been instructed to ask two specific questions during the application process:
“Have you experienced harm or mistreatment in your country of nationality or last habitual residence?”
“Do you fear harm or mistreatment in returning to your country of nationality or permanent residence?”
“Visa applicants must respond verbally with a ‘no’ to both questions for the consular officer to continue with visa issuance.”
The statement notes, “Consular officers must prevent abuse of the immigration system by visa applicants who misrepresent their purpose of travel, including those who attempt to obtain nonimmigrant visas for the purpose of claiming asylum upon arrival in the United States.”
A State Department spokesperson defended the measure, stating: “Consular officers are the first line of defence for US national security.
The department uses all available tools and resources to determine whether each visa applicant qualifies under US law”.
To qualify for asylum under current law, an individual must be physically present in the US and be fleeing persecution based on race, religion, or political affiliation.
However, immigration experts warn that these new requirements may force vulnerable individuals into dangerous situations.
Camille Mackler, an immigration policy consultant, told CNN that the directive “is going to put people in really bad, terrible positions of having to make choices that ultimately affect their and their family’s safety.”
She added: “I also think this pushes people to unsafer pathways and unsafer routes, because if you need to leave, you leave, and you do whatever you need to do to do that.”
The rule follows other recent measures, including increased vetting for student visas and a temporary suspension of immigrant visa processing for 75 countries earlier this year.
Telecom
ALTON Rues Vandalism, Others as Critical Infrastructures Suffer Attacks

Association of Licensed Telecoms Operators of Nigeria (ALTON), has decried persistent challenges such as vandalism, high operating costs, and regulatory bottlenecks threatening service delivery despite recent improvements in investment inflows.

Gbenga Adebayo, chairman, ALTON, warned that the continuous attack are putting strains on Nigeria’s telecom sector which serve as the backbone of the country’s economic and digital systems,
Adebayo, speaking in an interview on ARISE News, described telecommunications as the critical foundation supporting all sectors of the economy.
“Telecom operators are the infrastructure of infrastructures that supports all other sectors,” he said, stressing that the industry remains central to power, transport, security, and financial services.
Adebayo noted that the recent 50% tariff adjustment has helped restore investor confidence in the sector after years of underinvestment.
“It has restored confidence in the sector… we are seeing investment, we are seeing now the impact of that investment,” he said, adding that the sector is now beginning to recover gradually.
But, he warned that improvements in service quality remain constrained by multiple external challenges, including vandalism, insecurity, and regulatory bottlenecks.
“Things can be better… but there are also other external factors… vandalism, behavior of public actors, behavior of non-state actors,” he explained.
Adebayo highlighted the scale of infrastructure damage, particularly on fibre networks, noting a major disparity between international and domestic connectivity routes.
“The fiber optic in the Atlantic… has witnessed probably one outage in two years… the one running from Lagos to Kano, we record an average of about 40 cuts a day,” he said.
He explained that such disruptions significantly increase operating costs and affect service quality across the country.
Beyond vandalism, he pointed to theft of telecom equipment such as batteries and generators, as well as security challenges that prevent timely restoration of services in some regions.
“Issue of security… people are stealing batteries, they’re stealing generators,” he said, noting that some areas remain inaccessible during outages until security conditions improve.
Adebayo also called for urgent reforms in right-of-way charges and taxation policies, arguing that telecom infrastructure should be treated as essential national infrastructure.
“Right of way should become free of charge across the country… issue of multiple taxation… it has to be a thing of the past,” he stated.
On rising energy costs, he said operators are gradually adopting hybrid and renewable energy solutions, although the transition is slow and still exposed to vandalism risks.
“We are doing a lot on renewable energy and providing hybrid solution… but that takes time,” he said.
Adebayo concluded that while policy support and investment inflows are improving the outlook of the sector, sustainable progress will depend on stronger protection of telecom infrastructure and coordinated action among government, regulators, and communities to address vandalism, insecurity, and regulatory inefficiencies.
E-Business
Opay Plans IPO in US, Targets $4Bn in Valuation

Opay, a financial technology (fintech) firm, is working with Citigroup Inc., Deutsche Bank AG, and JPMorgan Chase & Co. for an initial public offering (IPO).

According to a report by Bloomberg on Friday, sources said the platform, backed by SoftBank Group Corp., is considering a listing in the United States and is targeting a valuation of about $4 billion.
They added that the company could proceed with the share sale later this year, although the timing and size of the offering are yet to be finalised.
Opay is one of Africa’s fastest-growing fintech firms, offering mobile payments, transfers, and other financial services across Nigeria.
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The fintech company, Citi, Deutsche Bank, and JPMorgan have not publicly commented on the IPO plans.
Like Opay, Flutterwave, a major fintech company in Africa is planning an IPO.
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