Ike Dubaku

Spoil the rod and spare the kid. A beating heart of stone. Chelsea Fc💙

[Ike Dubaku @EchoChukwu]

@arojinle1 A simple google search would have saved you this foolishness

[Ike Dubaku @EchoChukwu]

@itsbobbyfingz8c It’s because that’s why🤣😂

Gets me every time

[Oby Ezekwesili @obyezeks]

.@officialABAT President Tinubu, Terminate the Dodgy £746 Million Ports Deal, Now

By
Obiageli “Oby” Ezekwesili

One hundred and fifty‑two days after President Bola Tinubu signed a £746 million ports financing deal with the United Kingdom at Windsor Castle, neither government has disclosed the terms of the agreement. I initially held back from commenting, prioritising Nigeria’s spiraling insecurity. But the persistent silence surrounding this deal and the pattern of opaque governance it reflects makes further waiting irresponsible.

Nigeria’s public debt has exploded from ₦87 trillion in May 2023 to over ₦152 trillion today. Debt service now gulps more than 60 percent of government revenues, leaving crumbs for health,
education, and the security Nigerians are dying for lack of. The administration’s annual borrowing
rate has soared to nearly ₦50 trillion, that is, ten times that of its predecessors, fueled by a $21.45 billion external borrowing plan approved without a single substantive public hearing by the complicit, supine and captive @nassnigeria .

Against this backdrop, the Tinubu government added a £746 million ports deal whose terms remain hidden. This is not a grant, nor aid. It is a sovereign debt obligation. It is a commercial loan arranged by Citibank London, guaranteed by UK Export Finance, and structured to benefit British exporters.

At least £236 million is contractually reserved for British suppliers. British Steel alone secured a £70 million contract it described as one of the largest in its history. Nigeria borrowed the money that British companies will harvest the contracts and Nigerians will repay the debt. Yet neither interest rates nor repayment timelines have been officially published.

Civil society organizations, including SEREC, BudgIT and opposition parties have demanded disclosure. None has received a substantive response. The loan agreement remains unpublished by the Ministry of Finance, NPA, UKEF, or any other official body.

Three failures make this silence unacceptable.

First, currency risk: a sterling loan benchmarked to a floating dollar rate, repayable in a Naira that has lost over 70 percent of its value since 2023, with no disclosed hedging framework.

Second, procurement failure which is most vexing for me as one who led the public procurement reforms of this country: credible reporting identifies ITB Nigeria a company owned by Gilbert Chagoury who is publicly identified as a bosom friend of President Tinubu as the primary contractor without the Due Process of competitive tender, without publicly available evidence of the involvement of the Bureau for Public Procurement, and without any published evaluation criteria.

Third, policy failure: the government ignored the proven alternative of private capital. The Lekki Deep Sea Port was built for $1.5 billion under a private BOT concession with zero sovereign debt and now handles 1.2 million Twenty‑foot Equivalent Units - TEUs. In simple language, the Lekki Port for which Nigeria did not take on any loans attracted private financing and is today successfully handling 1.2 million single 20‑foot shipping container annually.

No analysis whatsoever has been offered by the Tinubu administration to justify why then Apapa and Tin Can, two of West Africa’s most commercially productive ports, could not follow the same model of private capital. These two ports do not need sovereign debt to be rehabilitated. What they need is a governance framework that attracts private capital on Nigeria's terms. …/1

Continue reading on next tweet.

[Ike Dubaku @EchoChukwu]

are uploaded by the inec staff immediately after counting

[Ike Dubaku @EchoChukwu]

This idea of quickly uploading election results is fair, given that we could have better. All the results from Osun I checked, all have same thing in common, they’re all clear, no tipp-ex, no cancellation, neat and legible.

Maybe electorates should enforce/ensure that results

[Ike Dubaku @EchoChukwu]

The results coming out of Ede😂😂

Even the good people of Ife love their governor.

Truly, going by the results(minus ede) we have so far, the margin between the winner and the loser would be really small.

The results are on inec website

[Ike Dubaku @EchoChukwu]

Tom holland’s Spider-Man 1: into the unknown

[Ike Dubaku @EchoChukwu]

Cancer!!!!
Cancer has taken another one! 😭

[Ike Dubaku @EchoChukwu]

@UnkleAyo The grand patron

[Ike Dubaku @EchoChukwu]

Who else is watching this arise news interview? 😂😂
Rufia is a clown

[Ike Dubaku @EchoChukwu]

Forest guards!!??

How did Nigeria offend God to have this plague of a president befall us!!
Isn’t God supposed to be merciful and slay our oppressor!?

[Ike Dubaku @EchoChukwu]

It’s going to take arsenal another 22 years to get to a UCL final and this ladies and gentlemen is what dreams are made of.

[Ike Dubaku @EchoChukwu]

🤣🤣😭😭😂😂

Arsenal

[Ike Dubaku @EchoChukwu]

@_adepejuh You mentioned the biggest problem and then put “it” aside? Okay

[Ike Dubaku @EchoChukwu]

First Lady drops a Children’s day message and her comment section is filled with curses?!😭😭

Take me there!!!

[Ike Dubaku @EchoChukwu]

@atiku @ChibuikeAmaechi 😂🤣
Bloody Hell!!!

[Ike Dubaku @EchoChukwu]

If you truly have the love of the people, why not face a free and fair ballot

[Ike Dubaku @EchoChukwu]

The sole administrator of state coffers, in charge of revenue distribution, the most powerful man in the country — with all security forces, over 85% of heavy politicians, and total control of the courts — is still desperately plotting ways to rig the election.

[Ike Dubaku @EchoChukwu]

The groundwork for Tinubu to pull 20 million votes in the general election has already been set. It’s a marathon. Let’s keep laughing and grinning at how duplicitous that figure is. E go clear for our eyes

[Ike Dubaku @EchoChukwu]

That shark goading the deep to “get in the water” is peak comedy😂😂😭

I swear that motherfucker is a black man and if he is, it’s definitely Samuel Jackson