The Nation Newspaper

Author: The Nation

  • Lagos 2024 budget scales second reading

    Lagos 2024 budget scales second reading

    The 2024 Appropriation Bill presented by Lagos State Governor Babajide Sanwo-Olu has passed the second reading.

    Speaker Mudashiru Obasa therefore committed it to a joint-committee of the House for proper scrutiny.

    He urged the joint-committee on Economic Planning and Finance to produce a well-scrutinised budget in three weeks, for the people’s benefit. 

    Chairman of the joint committee Sa’ad Olumoh said the budget aims to address issues resulting from the removal of subsidy and exchange rate.

    He added that the budget would be made to minimise waste.

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    Femi Saheed, who heads the Finance Committee, said with the budget, “Lagos is moving away from relying on federal allocations,” while his colleague, Kehinde Joseph, said the budget should address situations where some agencies of government exist in rented buildings.

    Deputy Majority Leader Adedamola Kasunmu said “the budget can be self-sustaining and realistic if the right thing is done.” He added that focus should be given to health and education. 

    Desmond Elliot called for an improvement in the budget for social protection to effectively reach the people, while Nureni Akinsanya said applications for Certificates of Occupancy can be made lighter for the government to make more money.

  • Customs ‘committed to officers’ welfare’

    Customs ‘committed to officers’ welfare’

    The Comptroller-General of Nigeria Customs Service (NCS), Bashir Adeniyi, has said “we are committed to the welfare of our men and officers, because this will boost their morale to perform well and increase productivity in line with the Renewed Hope agenda of President Bola Ahmed Tinubu.”

    Speaking yesterday in Ibadan while launching ‘Coop Pacesetter Estate’ for NCS officers, he said many of the officers worked for about 30 to 35 years without having a decent home of their own.

    He said they were allocated quarters and had to vacate the places after their retirement.

    He said NCS was committed to ensuring an enhanced welfare package for its officers and men, adding that the struggle to secure house had weighed on the officers and men, often impacting on their ability to fully focus on their duties.

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    Adeniyi said: “The Service is solving this problem of accommodation by providing staff quarters across the commands. While staff quarters offer temporary relief, the uncertainty of retirement looms large as quartered staff will need to vacate upon completion of service.

    “Recognising this challenge and in a bid to ensure sustainable housing solution, we have partnered with Cooperative Mortgage Bank (CMB) to build 5,000 units of houses across the country. This will provide a foundation of stability for our officers, allowing them to invest in their families and future, and ultimately serve our nation even more effectively.

    “The housing scheme features various types of houses, including two-bedroom terrace bungalows and three-bedroom terrace duplexes in Lagos, Kaduna, Kano, Asaba, Masaka, lbadan, Port-Harcourt and Abuja.”

  • Commissioner dedicates award to Sanwo-Olu

    Commissioner dedicates award to Sanwo-Olu

    • Akinderu-Fatai is Housing Commissioner of the Year

    Lagos State Commissioner for Housing, Moruf Akinderu-Fatai, has won the Housing Commissioner of the Year award organized by the Africa Housing Awards (AHA).

    The plaque was presented to him by the former Minister of Environment, Alhaji Suleiman Hassan and AHA Convener Festus Adedayo during the Housing Summit at the International Conference Centre, Abuja on Sunday.

    According to the organisers, Akinderu-Fatai‘s won the award due his commitment towards reducing the housing deficit and alleviating the challenges faced by home seekers in the state.’’

    Akinderu–Fatai dedicated the award to Lagos State Governor Babajide Sanwo-Olu, who gave him the rare opportunity of serve the people.

    Akinderu-Fatai said: “given the rate at which the population of the state is increasing, there must be dynamic measures in the housing sector to ensure that governmental interventions result in a positive impact on the people.

    “It is the responsibility of a good government to be sensitive to the issue of housing needs as this will help to enhance the quality of life in the state,” he said.

    According to him, housing delivery is central to the developmental plans of Lagos State, being the economic hub of the nation as well as one of the fastest growing megacities in the region.

    He further noted that Lagos State Government considers it strategic and responsible to invest in the housing sector to reduce the challenges of housing deficit adding that “ housing is addressed fully under the Pillar of Building a 21st Century Economy, which forms one of the six pronged THEMES + agenda of this present administration”.

    Read Also: Perform or be fired, Tinubu tells NNPCL board

    Akinderu-Fatai, further revealed that “beyond the provision of decent and affordable homes, the modalities of owning houses in our estates have been simplified to make cheaper options available for all classes of people adding that the state has the lowest mortgage of 5 per cent down payment of total cost while the remaining is spread over 10 years on installment payment.

    The Commissioner also said the administration of Mr. Babajide Sanwo-Olu Governor of Lagos State has trained and empowered artisans on master craftsman project, in order to strengthen local artisans in the built and construction sector.

    Akinderu-Fatai seized the opportunity to invite viable private investors to partner with state government to build more homes to further increase the housing stock so as to bridge the housing deficit.

    Speaking on behalf of the organizers, Mr. Festus Adebayo said: “the Commissioner has made positive impacts in the area of housing development by initiating and implementing housing policies that clearly show an in-depth understanding of the peculiar challenges faced by the citizenry in terms of affordable and accessible Housing.”

  • Adamawa: Appeal Court affirms Fintiri’s election victory

    Adamawa: Appeal Court affirms Fintiri’s election victory

    The Appeal Court in Abuja yesterday affirmed the victory of Adamawa State Governor Ahmadu Fintiri.

    The appellate court affirmed that the Peoples Democratic Party (PDP) candidate won the March 18 governorship election.

    In a unanimous verdict, the three-member panel of the court, presided over by Justice Tunde Awotoye, dismissed the appeal filed by the governorship candidate of the All Progressives Congress (APC), Senator Aishatu Dahiru (Binani).

    Dahiru’s appeal was against an earlier judgment delivered by the Governorship Election Petitions Tribunal, which had equally affirmed Fintiri’s victory in the election.

    Justice Ebiowei Tobi, who read the judgment, averred that the appeal by Dahiru was faulty.

    Justice Tobi said the record of appeal, containing the proceedings at the trial tribunal, was incompletely transmitted.

    He held that the trial tribunal was right to have held that the evidence of the first three witnesses of the appellants (who were petitioners before the tribunal) were hearsay, which is inadmissible.

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    Justice Tobi added: “On the whole, this appeal lacks merit and is accordingly dismissed. 

    “The decision of the lower tribunal is hereby confirmed.”

    The court awarded N100,000 as cost against the appellants and the money is to be paid to Fintiri and the PDP.

    The APC candidate lost at the tribunal in a judgment delivered in Yola, the state capital, last October. 

    The chairman of the three-member tribunal, Justice Theodora Obi-Uloho, held, among others, that the petitioners failed to prove their case.

    Justice Obi-Uloho dismissed the petition on the grounds that it lacked the relevant legal ingredients on which the tribunal could upturn Fintiri’s victory.

  • NGE to launch trust fund for editors, media industry

    NGE to launch trust fund for editors, media industry

    •  Fund to boost media sustainability, professionalism

    The Nigerian Guild of Editors (NGE) has said it is planning to launch a trust fund for the nation’s editors and the media industry.

    Named: the Nigerian Editors’ Trust Fund, the fund is designed to address the professional and welfare needs of media houses and editors across the country.

    The initiative was borne out of the resolution of the All Nigeria Editors’ Conference (ANEC) recently held in Uyo, the Akwa Ibom State capital.

    During the conference, publishers, media executives, and editors harped on the urgent need for the guild to initiate a strategic move that would focus on the professional/welfare needs of media houses and editors in Nigeria.

    They said this would be part of several efforts to enable them continue to discharge their constitutional and social responsibility to the society without compromising their ethical standards.

    In a statement yesterday by its President, Mr. Eze Anaba, and the General Secretary, Dr. Iyobosa Uwugiaren, the professional body of editors and media executives said the initiative was a response to the increasing professional and welfare challenges faced by the highest echelon of Nigerian journalists in performing their duties.

    Read Also: Perform or be fired, Tinubu tells NNPCL board

    “The trust fund, which is expected to be launched in the first quarters of 2024, will also address the daunting economic challenges that the media executives and editors are faced with during and after office. The fund will benefit the guild’s members in the print, electronic, and online media.

    “The trust fund will be a collaborative effort among all the stakeholders in the media sector, including the public sector – aimed at addressing key challenges that affect the professionals, who are the ultimate gatekeepers in their media organisations,” the statement said.

    The NGE, at its recent annual conference in Uyo, set up a committee, headed by its Vice President (East), Mr. Sheddy Ozoene, to liaise with media stakeholders and coordinate the launching of the fund in the first quarter of next year.

    The statement added: “The trust fund will create the much-desired impact in the journalism profession in the country as the editors and media executives will be exposed to empowerment programmes and innovations in the media industry, retraining and networking opportunities with colleagues from around the world.”

  • Access Holdings’ media chief Abdul Imoyo dies at 52

    Access Holdings’ media chief Abdul Imoyo dies at 52

    • Friends, colleagues mourn

    The Head of Media Relations at Access Holdings Plc, Abdul Imoyo, has died.

    Imoyo died on December 17 at First Cardiology in Ikoyi, Lagos, after an illness.

    His death was confirmed by the Association of Corporate and Marketing Communications Professionals in Banks (ACAMB) where he was the Publicity Secretary.

    Quoting an earlier statement by a representative of the Imoyo family, Tunde Imoyo, ACAMB expressed sadness over the death of its erstwhile publicity secretary who was popular for his professionalism, friendliness, and dedication to duty.

    In a statement by its President Rasheed Bolarinwa, ACAMB acknowledged Imoyo’s contributions to the media, corporate communications, financial media, and banking.

    Also, the spokesperson for the Chartered Institute of Bankers of Nigeria (CIBN), Mrs. Folake Akintayo, said the industry has been mourning the passage of Imoyo, known for his dedication to duties and friendliness.

    “…His contributions to ACAMB and the broader corporate landscape will be remembered and celebrated by colleagues, associates, and the entire banking community,” ACAMB said.

    In the post that announcement Abdul Imoyo’s death, Tunde Imoyo had written: “It is with deepest sorrow that we inform you of the death of our beloved husband, father, brother, and uncle, Abdul Kolawole Imoyo, who departed to be with the Lord in the early hours of December 17, 2023, after a brief illness.

    “We are taking some time as a family to grieve over our loss at this time. We thank you for your prayers and support.”

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    Friends, colleagues, and professional associations have expressed sadness over Imoyo’s death.

    The Capital Market Correspondents Association of Nigeria (CAMCAN), where Imoyo was a Vice President, expressed grief over the death of the thoroughbred financial journalist.

    The Association of Business Editors of Nigeria (ABEN) and the Finance Correspondents Association of Nigeria (FICAN) said Imoyo’s death was a shock to the financial media industry.

    Imoyo was credited with helping in facilitating the annual capacity building for financial media, drawing on his experience as a journalist and corporate communications expert.

    Several mourners expressed shock at his death, saying even while battling his health condition, still attended to official and friendly enquiries in his usual affable manner.

    Friends and well-wishers have been mourning his demise on social media platforms, relaying their personal experiences of Imoyo’s good nature.

    Before joining Access Holdings, Imoyo had worked at the United Bank for Africa (UBA) Plc.

    He was also the Finance Editor at BusinessDay and Vanguard newspapers.

  • 2024 budget: National Assembly gives committees 48 hours to submit reports

    2024 budget: National Assembly gives committees 48 hours to submit reports

    The Joint National Assembly Committee on Appropriations yesterday gave the standing committees in both chambers a 48-hour ultimatum to submit their reports on the 2024 budget.

    The chairman of the joint committee, Senator Solomon Adeola, issued the order.

    He said the move became necessary to enable the National Assembly pass the N27.5 trillion 2024 budget before the end of this month.

    The standing committees had begun submitting their reports yesterday to the joint committee.

    The Committee on Tourism, chaired by Senator Ireti Kingibe, and the Committee on Diaspora and Non-Governmental Organisations (NGOs), headed by Senator Victor Umeh, were among the first to submit their reports.

    In his remarks at the session, Adeola urged all the standing committees to keep to the deadline.

    The joint committee chairman said this would enable the National Assembly to meet the January-December budget cycle.

    He said: “I am appealing to all my colleagues to please – I am ready and the deadline is Wednesday this week – to receive all reports from all standing committees of the Senate.

    “By Wednesday, any agency or any committee that has not submitted their report before the committee, it will be assumed that they are giving us the omnibus power to go ahead and treat their budget independently of that committee.

    “So, we are appealing to all chairmen of various committees to please submit their reports on or before Wednesday this week.”

    From the standing committee reports submitted yesterday, the Appropriation Committee raised two issues: the fate of 136 Nigerians trapped in Ethiopian prisons and the N5 billion proposed in the budget to revamp the Obudu Cattle Ranch in Cross River State.

    While submitting his report, Umeh said some of the 136 Nigerians serving various jail terms had sought to be transferred to Nigeria to serve out their punishment.

    He told the committee that the Nigerians in Diaspora Commission (NiDCOM), which handles such matters, was handicapped due to poor funding.

    Umeh said the commission was given a budget of N1.2 billion for 2024, out of which N652.9 million was for capital expenditure.

    The committee chairman noted that looking at the workload of NiDCOM, N4.9 billion was recommended by his committee as the agency’s capital budget.

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    He added that this would cover five new line items introduced into the budget, including addressing the plight of Nigerians in prisons, organising Diaspora summits and other projects to coordinate the activities of Nigerians living outside the shores of the country.

    In his response, Adeola promised that the panel would review the report and find a way to increase NiDCOM’s budget, “considering the very important work they have been doing”.

    He added: “We will pay attention to NiDCOM in our reporting stage. However, we will do a review of the five new line items and prioritise them.”

    In her submission, Senator Kingibe noted that out of the N7.9 billion proposed as the capital budget for the Ministry of Tourism, over N5 billion was for the Obudu Cattle Ranch.

    She said it was not proper, in her view, for one geopolitical zone to take more than half the total capital vote of the agency, to the neglect of other zones.

     The joint committee said while her point had been duly noted, members would investigate how the N5 billion would be spent, to ensure that it would go into the revamping of the Obudu Ranch.

     “We will investigate why we are spending this N5 billion in just one geopolitical zone.

    “But we have to also understand that we are still not yet there with this money allocated to tourism.

    “We have to do more, if we really want to drive tourism in this country,” Adeola said.

    ·              

  • International electricity customers owing $11.16m

    International electricity customers owing $11.16m

    The Nigeria Electricity Regulatory Commission (NERC) has said the four international electricity customers of the Nigerian Electricity Supply Industry (NESI) failed pay the $11.16million invoice the Market Operator issued them in the third quarter (Q3) of 2023.

    This was contained in the commission Q3 2023 financial report issued yesterday.

    NERC said, “On Cross-border Customers, NERC said in 2023/Q3, none of the four  international customers being supplied by GenCos in the NESI made any payment against the cumulative invoice of $11.16 million issued to them by the MO for services rendered in 2023/Q3.”

    Nigeria supplies electricity to Republic of Benin, Niger Republic and Togo.

    The report revealed that the companies Nigeria supplies electricity to are Paras – SBEE and Transcorp SBEE that are both Benin- Republic owned, Mainstream – NIGELEC of Niger Republic and Odukpani – CEET of Togo.

    According to the report, Paras -SBEE failed to remit $2.42million, Transcorp – SBEE failed to remit $2.62million, Mainstream – NIGELEC defaulted to pay $1.96 million while Odukpani – CEET defaulted in paying $4.16million.

    The commission added that similarly, none of the 16 bilateral customers operating in the NESI made any payment against the cumulative invoice of ?2,814.68 million issued to them by the MO for services rendered in 2023/Q33.

    NERC further said the special customer (Ajaokuta Steel Co. Ltd and the host community) did not make any payment towards the ?0.58 billion (NBET) and ?0.07 billion (MO) invoices received in 2023/Q3.

    Seeking intervention on the debt, NERC noted that

    “This continues a longstanding trend of non-payment by this customer and the Commission has communicated the need for intervention on this issue to the relevant FGN ministries.

    “A continuation of the non-payment may trigger total disconnection from the grid because of the large accumulation of debts.”

    NERC also revealed that owing to absence of a cost reflective tariff, the Federal Government subsidized electricity with N204.59 billion in the Third Quarter of 2023 (Q3 2023).

    It said: ” It is important to note that due to the absence of cost-reflective tariffs across all DisCos, the Government incurred a

    subsidy obligation of ?204.59 billion in 2023/Q3 (average of ?68.20 billion per month), which is an increase of ?69.37 billion (+51.30%) compared to the ?135.23 billion (average of ?45.08 billion per month) incurred in 2023/Q2; this increase is largely attributable to the government’s policy to harmonise e change rates.”

    NERC explained that the rise in the government’s subsidy obligation meant that in 2 23/Q3, DisCos  were only expected to cover 45.00% of the total invoice received from Nigerian Bulk Electricity Trading Company (NBET).

    The report noted that for ease of administration of the subsidy, the Minimum Return Order (MRO) is limited to NBET only with the MO being allowed to recover 100% of its revenue requirement from the DisCos.

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    “In 2023/Q3, the MRO-adjusted invoice from NBET to the DisCos was ?167.40 billion, while the total remittance made was ?124.53 billion, which translates to a 74.39% remittance performance,” according to the commission.

    The report added that the  remittance performance of DisCos to NBET in 2023/Q3 (74.39per cent) is a -24.60pp decrease compared to the 98.99per cent remittance performance recorded in 2023/Q2.

    The notable decline in remittance performance by DisCos, according to NERC, is a result of the -18.29% decrease in remittance in 2023/Q3 (?124.53 billion) compared to 2023/Q2 (?152.48 billion) in spite of the fact that the MRO-adjusted invoice in 2023/Q3 (?167.40 billion) increased by 8.67% compared to 2023/Q2 (?154.04 billion).

    On Financial Report, the report noted that the total revenue realised by the Commission in

    2023/Q3 was ?6,070.93 million representing an increase of ?131.96 million (+2.22%) compared to the ?5,938.97 million realised in 2023/Q2.

    NERC said during the same period, the total expenditure of the Commission increased by ?691.97 billion (+28.09per cent) from ?2.463.80 billion in 2023/Q2 to ?3,155.77 million.

    The report said the Commission recorded a positive net cash flow of ?2,915.16 million in the quarter.

    According to NERC, this is the 17th consecutive quarter in which the Commission has recorded a positive cash flow.

    The commission said in the period under review,  the cumulative upstream invoice payable by DisCos was ?208.70 billion, consisting of ?167.40 billion for generation costs from NBET and ?41.30 billion for transmission and administrative services by the Market Operator (MO).

    Out of this amount, said the commission, the DisCos collectively remitted a total sum of ?158.43 billion (?124.53 billion for NBET and ?33.90 billion for MO) with an outstanding balance of ?50.27 billion.

    NERC noted that this translates to a remittance performance of 75.91per cent in 2023/Q3 which is down by 19.30pp compared to the 95.21per cent recorded in 2023/Q2.

  • Ministry canvasses Soul Day celebration

    Ministry canvasses Soul Day celebration

    The Chief Priest of Eledumare (God Almighty) Ministry, Owolabi Salis, has advocated the need to celebrate Soul Day between December 25 and 27 as against the usual celebration of Christmas Day on December 25.

     In a statement, he said human beings and most living things are all about body and soul.

    Salis, a former governorship candidate of Alliance for Democracy (AD) in Lagos State, said God gave the soul into the body which custodian is the heart.

      “You should offer thanksgiving to God for keeping your soul alive and thanksgiving for good heart, which is celebrated by lunar calendar under Eledumare Ministry.

     “Instead of celebrating Christmas, you should celebrate Soul Day between the night of December 25 and December 27 of every year. On these days, you pray and offer thanksgiving to your Creator, Eledumare, the Lord God Almighty, for keeping your soul alive and enriching your soul for guidance and spiritual stability. Why? Because your Creator, Eledumare, is your soul’s owner and the only one you should worship,” he said.

     Expatiating what is expected of people to during the three days, Salis said: “People should celebrate with their family and friends and offer a thanksgiving feast and create happy moments. You can also check Eledumare platforms for free prayers.

     “When we say Eledumare, we mean the God Almighty. The Soul maker and taker; the holy of holies, the Lord of Diversity and the ruler of the universe. Different cultures have different names for Him and you are free to reference your cultural name.”

    “When Jesus Christ was alive, he worshipped Eledumare, and never worshipped idols, stones, woods or human beings. Jesus submitted his soul to Eledumare. A good Christian should behave like Jesus Christ by worshiping Eledumare, the Lord God Almighty.

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    “On December 25 nights, they should hold a short night vigil prayer for the repose of the soul of their ancestors. You too, will one day be celebrated as an ancestor. Do not abandon your ancestors. Whoever abandons his or her ancestors can never grow spiritually. There are certain things you should know for your spiritual stability.

    “Eledumare is the Lord of diversity. He created everything in diversity including human beings; therefore, you need to respect diversity for spiritual stability and free yourself from stories of men and imposed bondages. He is the owner of your soul and that soul lives in your heart which supports your head and other parts of your body. You need to offer Thanksgiving to Him for keeping you alive and ask Him to enrich your soul.”

    He noted that whoever disregards his roots will hardly progress.

    “We all have three roots, your Creator which is your first root and the owner of your soul, your parents, your second root and your ancestors, your third root. Pay obeisance and spiritual respect to the three roots but you can only worship the Creator, the Eledumare, because he is the owner of your soul. When you worship anything, you submit your soul to it. You cannot worship your ancestors and parents but pay obeisance by celebrating them and praying for them,” he said.

  • Presidential CNG initiatives panel can’t account for palliative money, says National Assembly

    Presidential CNG initiatives panel can’t account for palliative money, says National Assembly

    • • ‘Committee operating in secret, refuse to brief lawmakers on activities’

    The National Assembly yesterday frowned at the inability of the Presidential Steering Committee on the Compressed Natural Gas (CNG) Initiatives to account for the money allocated to it from the N500 billion meant for palliatives.

    Speaking on behalf of the Senate and House of Representatives Joint Committees on Petroleum Resources, Senator Jarigbe Agom Jarigbe alleged that the presidential committee was carrying out its activities in secret.

    He said: “We are aware that on October 1, 2023, the President made a promise to Nigerians to address the challenges of the common man by introducing palliatives to ameliorate the suffering of Nigerians as a result of the removal of subsidy.

    “Mr. President also committed to building training workshops, providing CNG conversion kits to advance the natural gas revolution of the Federal Government.

    “The joint committee observed with utter dismay the non-provision of those palliatives in the 2024 Appropriation Bill, which has been made available to the joint committee.

    “The budget of the Ministry of Petroleum Resources is neither here nor there. It does not represent the policy direction of Mr. President on the decade of gas and usage of compressed natural gas as an alternative source of fuel.

    “A capital budget of N5.8 billion for a ministry that is critical to achieving the natural gas revolution policy of the government and ameliorating the suffering imposed on Nigerians smacks of unseriousness.

    “The Steering Committee on the Compressed Natural Gas Initiative has also refused to brief the National Assembly on the programmes they are carrying out.

    “Their activities are shrouded in secrecy and the Ministers of State for Petroleum Resources as well as Oil and Gas are completely in the dark as to the activities of the Presidential Steering Committee on CNG initiatives.

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    “In trying to get self-help, the Presidential CNG initiative has embarked on a fund raiser which comes up tomorrow in order to extort funds from so-called stakeholders.

    “As a parliament, we do not align ourselves with running government programmes in disregard to the provisions of the law. We cannot achieve what Mr. President wants without providing for the CNG and other important projects in the Appropriation Acts. Doing so will only open a window of fraud, which will impact negatively on the citizens.

    “Let it be on record that the Steering Committee of the PCNGI cannot account for the funds already provided for them from the N500 billion approved for palliatives for the purpose of CNG and advancement in the country…”

    Chairman of the House Committee on Petroleum Resources (Upstream), Al Hassan Ado Doguwa said: “We have less than N10 billion budget to consider. So, it is just the name that is big. Like people would say: big for nothing. If you have issues, you should make a proposal. But the real budget is what will come out of this institution.

    “We want a Ministry of Petroleum Resources that will not only be robust but must be vibrant and proactive to be able to compete in the global market. A situation where you have other ministries budgeting over N40 billion is not good enough.”