The Nation Newspaper

Tag: Fed Govt

  • Fed Govt to revitalise commodity exchange

    The Federal Government plans to revitalise commodity exchange in Nigeria as part of a comprehensive development programme for the nation’s agricultural sector.

    Vice President Yemi Osinbajo made this known last weekend at the First National Economic Forum organised by Vintage Press Limited, the publishers of The Nation Newspapers, in collaboration with CEEDEE Resources at Lagos Airport Hotel, Ikeja, Lagos.

    Osinbajo said the government would develop the commodity exchange system to support the development of the agricultural sector.

    He said government would revitalise the Abuja-based Nigeria Commodity Exchange (NCX) and other infrastructure and operators in the whole commodity exchange value chain.

    According to him, a functional commodity exchange would ensure that Nigerian farmers receive good prices for their products.

    Osinbajo said the government also plans to introduce a Minimum Price Guarantee scheme under which the government will set floor prices at which it would buy agricultural produce from farmers.

    He noted that a Minimum Price Guarantee scheme would encourage the farmers to scale up their production to their highest capacity with the assurance that government will be ever ready to buy the farm produce at guaranteed prices.

    It should be recalled that the NCX had introduced a pilot electronic warehouse receipt system (e-WRS) in 2014. Under the e-WRS, farmers will be able to place their commodities at an NCX-accredited warehouse in different parts of the country and will be issued an electronic receipt stating details such as commodity type, quality and quantity, owner and other relevant information. The depositor will have the choice of using the receipt as collateral to obtain bank loans or for trading on the Exchange. Another option is to keep such commodities in the warehouse until their prices stabilise or appreciate.

    The new initiative would encourage the provision of standard storage facilities for operators in the agricultural value chain and make the warehouse receipts a prime tool of trade while facilitating access to finance. The e-WRS is also expected to strengthen small scale farmers and agro-allied businesses while creating jobs and sustainable economic growth.

  • NIA lauds Fed Govt’s N14.69b vote for Group life, others

    NIA lauds Fed Govt’s N14.69b vote for Group life, others

    The Nigeria Insurers Association has commended the Federal Government for earmarking N14.69 billion insurance premium for Group Life Insurance for its workers and assets.

    NIA’s Director-General, Sunday Thomas in an interview said the government has done well, adding that there was need for more in terms of insurance of its assets and liabilities nationwide.

    The Federal Government voted the amount for Group life for its Ministries, Departments and Agencies (MDAs) of the Federal Government, including Department of State Security (DSS), Insurance of Sensitive Assets and Corps members in this year’s Appropriation Bill passed by the National Assembly on March 23.

    According to Thomas, the amount surpasses what previous government budgeted.

    He said: “The amount surpasses what it was in the previous years. I think it is quite substantial and it should be commended.

    “The government need to secure the 2016 budget with insurance because spending without protection or security will lead to a waste of in government resources.”

    He urged the government to ensure that insurance cover is obtained by the  MDAs for the execution of both capital and recurrent expenditure of the budget.

  • Fed Govt set to empower one million women, says Osinbajo

    •President commiserates with Kano market’s victims

     

    The Federal Government has set aside a substantial amount of money in the 2016 budget to empower one million women through disbursement of loans.

    Vice President Yemi Osinbajo, who said this in Kano yesterday, added that investment in women would have a positive impact on the country’s growth and their families.

    He was in the Northern commercial city on behalf of President Muhammadu Buhari to commiserate with the government and traders, who lost goods worth trillions of naira in a fire, which engulfed Abubakar Rimi market in Sabon Gari.

    Osinbajo, who said the women would use the loans to start whatever business they desire, added the President was determined to surmount the economic challenges facing Nigerians.

    He assured the citizens that the nation’s lingering fuel scarcity and other hardships would soon be a thing of the past.

    The vice president said: “I want to assure you that better days are coming. There are myriad of problems inherited by the incumbent administration and we are not only determined, but committed to tackle and solve them.

    “President Buhari appreciates the pains Nigerians are feeling now, he knows what is going on and I want you to know and we know that he is an honest man, who is determined to make sure that the common man in this country enjoys the dividends of democracy.

    ‘’I will like us to join hands together with the governors and the government, so that we can all prosper and work diligently for the country’s development. President Buhari-led administration is determined to induce a change in the nation’s circumstances.”

    ‘’I am here to commiserate with the market men and women, whose goods were recently consumed by a fire outbreak in Abubakar Rimi market in Sabon Gari. The market is the largest in West Africa, which is located where predominantly non-indigenes reside. But I learnt that in Kano, we have no non-indigenes, as everybody is a citizen, where people converge from here and there.’’

    He added: “I commend Governor Ganduje for the massive structure being embarked upon by his government in rebuilding the market, which I hope would be a modern one that could be befitting and beneficiary.’’

    Osinbajo laid the foundation of projects to be executed by the Ganduje-led administration, as well as inaugurated an empowerment involving 500 women and 60 waste disposal tricycles.

    The governor noted that when the fire started, the government searched for firefighting vehicles, but learnt that they had gone for service, a situation which, he said, frustrated the efforts of putting off the fire.

  • Fed Govt bars ministers, perm secs from flying First Class

    Fed Govt bars ministers, perm secs from flying First Class

    To reduce its huge travel expenses, the Federal Government has restricted Ministers, Permanent Secretaries and Chief Executives of Parastatals to flying business class when on official assignment.

    A statement from the Federal Ministry of Finance yesterday said the Efficiency Unit of the ministry, in its negotiation for discounts with local and international airlines, also recommended other measures to reduce the government’s large expenditure on travels to the Office of the Secretary to the Government of the Federation (OSGF).

    The statement said the recommendation to the OSGF “include the need to restrict Business Class travel to Ministers, Permanent Secretaries, Chairmen of Federal Government Committees, as well as Chairmen and Chief Executives of Parastatals and Agencies.”

    The Efficiency Unit of the ministry of finance lamented that “in the past, some government officials who should have been on Business Class usually travelled First Class, while many others travelled Business Class instead of Economy.”

    The second recommendation bordered on the need to reduce the frequency of travels by ensuring that Board and Committee events such as meetings, workshops and conferences in Nigeria are held in locations where the institutions or persons participating in the event are domiciled. “Such events should for the most part, be held in Nigeria but where this is not possible, the prior approval of the Secretary to the Federal Government should be secured.”

    The statement said the OSGF has “accepted the recommendations in full and has accordingly issued a Circular recently to effect the changes.  The buy-in and prompt reaction of the OSGF is an attestation of the common resolve by government to its change mantra and the spirit of collaboration among government institutions and officials.”

    It is estimated that Travel Expenditure will drop by about 20 percent if the provisions of the new Circular issued by the OSGF are fully implemented.  A 20 percent reduction in Air Travel Expenditure, using the figure of N69.417 billion incurred on Travels in 2014 will result in a cost-cutting of N13.88 billion.

    The ministry of finance believes that “such large savings from Travel, which should ordinarily not be a major expense item for the government, will become available for investment in capital projects such as roads, power, railways and public health facilities.”

    The savings are expected to be even larger when discounts secured from Airlines are added. Already, 11 Airlines have offered discounts on local and international routes for travel by MDAs while negotiations are on-going with others.  The discounts received so far vary across routes and airlines and range from 7 per cent to 50 per cent.

  • Fed Govt plans massive review of electoral laws

    Fed Govt plans massive review of electoral laws

    The Attorney-General of the Federation (AGF) and Minister of Justice Abubakar Malami (SAN) said yesterday the Federal Government will soon unveil plans for a major reform in the nation’s electoral laws.

    The AGF spoke in Abuja at a stakeholders’ forum organised by the Nigeria Civil Society Situation Room, led by the Policy and Legal Advocacy Centre (PLAC).

    He said: ”This administration intends to carry out a comprehensive legal reform to address the challenges posed by some of our outdated electoral laws. My top priority as Attorney-General of the Federation is to lay a solid foundation for a sustainable reform of the Judicial sector where the rule of law takes pre-eminence over and above rule of man.

    “We have also identified as top priority, the amendment of the Electoral Act and other laws to empower the Independent National Electoral Commission (INEC) and other similar bodies to deal with perpetrators of serious offences. We cannot rule out the possibility of the imposition of sanctions to restrain those found guilty of electoral violence from participating in the electoral process.”

    Malami noted that the establishment of Electoral Mobile Court is also a major electoral reform being considered by the President Muhammadu Buhari administration, adding that some of the gaps in the electoral laws manifested in the recent decisions of the Supreme Court on some of the election petitions.

    He said: “Also of concern to this administration are the increasing levels of electoral violence as seen in some of the recent held elections. It is my expectation that this stakeholders’ forum will come up with suggestions and proffer solutions to several of the challenges posed to the achievement of credible elections in Nigeria.

    “I have begun consultations with the leadership of the National Assembly and the Judiciary to identify key laws and priority areas for reform.

    “Our priority areas will be clearly outlined in our justice sector reform that we will propose to the National Assembly and align it with their agenda in order to achieve reform within the tenure of this administration and in record time.

    “Taking from the gains of the 2015 general election, it will be important for us as a country to entrench a culture of democratic values that will strengthen our nation.”

    The AGF insisted that elections in the country must be conducted in a transparent and democratic manner to make them a source of inspiration to other African countries and show Nigeria as a worthy example to emulate by all.

    “In this regard, it is our plan to ensure that our elections are competitive, inclusive, free and fair, for all to see,” he said, adding: “A democracy thrives and endures when the laws guiding the conduct of elections are well known and the citizenry are well informed of it.”

    Malami said the governing party as well as opposition parties must enjoy a level-playing field so that competitive elections could be organised and all parties and candidates enjoy democratic rights and freedoms contained in the Constitution of the Federal Republic of Nigeria, 1999 (as amended), including the rights of freedom of speech, assembly, and movement.

    The AGF said the nation’s democracy could only work and deliver accountable government where elected officials see themselves as servants of the people who must subject themselves to credible periodic elections.

    The Chairman of the House of Representatives Committee on Electoral Matters, Hajiya Aisha Dukku, recalled that alhough Nigeria conducted one of the most successful and credible polls in 2015, which represented a milestone, there was still room for improvements in the nation’s electoral process.

    She noted that this would ensure that the gains made in previous elections were consolidated.

    Hajia Dukku said:  “Just before the elections, several amendments aimed at improving the legal framework were proposed, but the National Assembly could not complete the amendments process before the elections were conducted.

    “The bills seeking to amend the Constitution and the Electoral Act were passed and forwarded to the President for assent only few days before the elections. It was also unfortunate that the country waited until the last months of the Seventh Assembly to pass these amendments.”

    Also, INEC Chairman Prof. Mahmoud Yakubu recalled that as at the last count, the commission had conducted about 50 elections after the 2015 polls.

    The INEC chairman said 60  fresh elections would be held this weekend.

    He said 68 of the elections would be held in the Federal Capital Territory (FCT) Area Councils’ polls, while one State House of Assembly seat would be contested for in Osun State, following the death of its former occupant.

    The INEC chairman hailed the Situation Room for hosting over 60 civil society groups sharing ideas and experiences on election matters and proffering solutions.

     

  • ‘Fed Govt, states should partner on solid minerals’

    ‘Fed Govt, states should partner on solid minerals’

    Solid minerals can drive industrialisation and economic growth in the country, the sector stakeholders have said in Ilorin, the Kwara State capital.

    The stakeholders spoke at the 52nd Annual National Conference of Nigerian Mining and Geosciences Society (NMGS).

    Kwara State Governor Abdulfatah Ahmed and Solid Minerals Development Kayode Fayemi were in attendance.

    Both Governor Ahmed and Dr Fayemi decried the neglect of the sector by successive governments in the country.

    Ahmed used the occasion to call for partnership between the Federal Government and states for a survey of the quality and quantity of solid minerals in the country in order to build a geosciences database.

    He said, “No doubt, the solid mineral sector has the potential to generate significant revenue for the country but has been largely underexplored due to the reliance on oil resources.

    “Yet the opportunities are vast. For example, 30 per cent of the planet’s mineral resources, and specifically, more than 40 per cent of global gold, diamond and manganese, to mention a few, is found in Africa. Nigeria is no less endowed.

    “According to the 2012 audit report of the Nigeria Extractive Industries Transparency Initiative (NEITI), Nigeria has about 40 different solid minerals spread across the country. Yet on the average, the sector contributes only about 0.34 percent to the country’s GDP.

    “More than ever before, there is profound optimism that the sector can serve as a key driver in the quest for sustained economic growth and development in the country. The cumulative experience and expertise in this room today makes you all key to this quest.

    “As things stand in our country, the only way governments can continue to meet their obligations to the people is to create a broad based and sustainable economy: an economy that relies on revenue and growth from multiple sectors and is structured to create prosperity for the current generation without jeopardising that of the future.

    “However, it is important to note that Section 44 (3) of the 1999 Constitution vests the Federal Government with the ownership and control of all minerals, mineral oils and natural gas, in Nigeria.

    “Also, the Second Schedule, Part1, item 39 of the Exclusive Legislative list in the 1999 Constitution restricts State Governments from developing their respective mining industries.

    “As a result, this has limited the authority of states in the mining sector. This restriction has led to states having no authority to regulate the sector despite, playing host to miners.

    “Indeed, it is ironic that this restriction exists at a time states are required to exploit alternative sources of revenue such as the solid mineral and mining sector.

    This structure has led to environmental degradation as licensed miners sometimes carry out mining activities in a haphazard manner, as states are unable to regulate their activities.

    “I, therefore call on the Federal Government to allow increased participation by States in the solid mineral sector, especially in exploration, the collection of royalties, fees, fines and taxes accruable from solid minerals.

    “With this, states will be able to stimulate more growth, increase their Internally Generated Revenue, and create critical jobs for youths.

    “While we have a fairly accurate estimate of the mineral resources our country is endowed with, it is believed these barely scratch the surface of the vast mineral deposits in Nigeria. We must however acknowledge that mineral exploitation is expensive and time consuming.

    “In Kwara state, we are blessed with Gold, Kaolin, Marble, Dolomite, Tourmalines, Limestone and several other solid minerals which we are focused on exploiting to form the base for industrial development in the state.

    “Likewise, in order to diversify our economic base through solid minerals, this administration has put in place strategies to formalise and grow the industry.

    “These strategies include: enumerating and regulating operators and growing micro-and small-scale operators in the sector amongst others.

    “Furthermore, we are making plans to organise informal miners in the sector into cooperatives and given access to Small and Medium Scale Enterprises (SME) loans. This is to encourage small business owners in solid mineral and mining sector.

    “We have also set up the Midway Minerals Development Company Limited as a special purpose vehicle to acquire mining licenses and promote investment in the sector. Currently, we have five mining permits covering 445 cadastral units for mining Tourmaline, Tantalum, Dolomite and Marble.

    “Additionally, we are ready to acquire additional licenses to further exploit opportunities in the sector and by forging partnerships with private sector investors.

    Dr Fayemi used the occasion to decry insufficient funding of the ministry over the years.

    He added that out of the one billion Naira voted for the ministry in the 2015 budget, the ministry could only access N352 million.

    Dr. Fayemi added, saying, “This year alone Bukina-Faso next door to us is spending $80 million on generating geosciences data. Kenya is spending $65 million on generating geosciences data. It is not the total budget of the ministry. It is clear to us and President Muhammadu Buhari that if this sector is to thrive, we also need to inject more funding, not just government funding but private sector funding.

    “To this end, one of my first tasks as a minister was to meet all the managing directors of commercial banks and the Governor of Central Bank (CBN) to encourage them to become involved in mining by setting up solid mineral’s desk in their various banks, just as they have agric desk; and also organising an intervention fund for the sector, which we are now working on.”

     

     

     

     

     

     

  • Security: Fed Govt restricts radioactive materials 

    The Federal Government has placed restriction on the movement of radioactive materials into and outside the country.

    Movements of such materials are now restricted to the Murtala Muhammed International Airport, Ikeja, Lagos.

    Director-General of the Nigeria Nuclear Regulatory Authority (NNRA) Prof. Lawrence Dim made the disclosure in an interview with reporters in Abuja at the weekend.

    According to him, the security measure was meant to prevent radioactive materials from getting into wrong hands.

    Prof. Dim said the government mandated institutions and agencies making use of radioactive materials for non-violent purposes to obtain approval from the NNRA.

    The NNRA boss added that the directive was meant to ensure the safety of Nigerians and ensure that those with no business with radioactive materials, did not obtain them.

    He warned that agency’s personnel have been collaborating with relevant security agencies to track unlawful dealings in such materials.

    Prof. Dim said: “To prevent possible abuse, the NNRA has made it a law that only one airport in Nigeria, Murtala Muhammed International Airport, is approved for the importation and transportation of radioactive materials into and out of the country.

    “We need to replicate this in some other international airports, such as Port Harcourt, Enugu, Kano and Abuja so that we can effectively monitor the movement of such materials.”

    The NNRA chief, however, said the agency had begun the process that would eventually lead to the use of nuclear technology to generate electricity in the country.

    According to him, the agency was in the process of developing a nuclear power programme so that nuclear electricity could be added to the country’s energy mix.

    “The project is on and it isn’t a project that can be completed at once. It may take up to 25 years to put this to use,” Prof. Dim added.

  • Strict conditions for N350b disbursement, says Fed Govt

    The Federal Government has warned contractors that every kobo disbursed under its planned N350billion to be injected into the economy will be guided by very strict yardstick.

    The government had promised to release the fund in the last month of the first quarter of of this year to kick start economic activities.

    Addressing contractors and procurement officers in Abuja yesterday at the Second National Conference on Public Procurement (NACOPP) Organised by the Bureau of Public Procurement (BPP), the Secretary to the Government of the Federation (SGF) Engr. Babachir David Lawal said injecting the cash into the economy imposes greater responsibilities to procuring entities, contractors and service providers. “Every kobo disbursed will be guided by the strictest yardstick,” he assured.

    Government, the SGF said, “attaches a great deal of importance to procurement which is a vehicle through which government must deliver on the infrastructure promised to the people. So it cannot afford to ignore what is going on in the procurement system.

    “The current administration has promised change to Nigerians, without setting limits to where its policies and programmes will make an impact. But we know that when the dividends of democracy flourish, it benefits all.”

    He said government is confident that the states stand to benefit from a public procurement system that is transparent, competitive, and efficient and one that is founded on accountability.

    The Acting Director, African Development Bank (AfDB),  Dr Andoh Mensah, in his goodwill message, said Nigeria’s public procurement needs to be updated to cover government procurement of security and defence contracts which are areas susceptible to abuse and corrupt practices.

    He said globally, procurement accounts for a substantial portion of national budget, but in Nigeria, “aggregate government procurement is about $40 billion annually, hence the public expects the governments to carry it out efficiently and with high standards of conduct in order to ensure high quality of service delivery, value for money and safeguard the public funds.”

  • Fed Govt woos UAE on skills export

    Labour and Employment Minister Dr Chris Ngige, has urged United Arab Emirates (UAE) to activate the process of the migration of skilled Nigerian middle level workers into its country under the International Labour Migration guidelines.

    Ngige spoke in Abuja, when  UAE’s Ambassador to Nigeria,  Mahmood Mohammed Almahmood, visited him over on the death of the Minister of State for Labour and Employment, James Ocholi.

    He  said: “In consonance with the spirit of the relationship, which exists between our two countries, and which President, Muhammadu Buhari has further bolstered with his recent official visit to the United Arab Emirates, and considering the series of agreements signed in the areas of trade, economic development, investment and industry as well as legal cooperation among others, my ministry wishes to  request that you activate the process of labour  migration and employment into the UAE  for skilled Nigerian  workers.”

    Dr. Ngige said it was Nigeria’s desire to export skilled middle level workers, whether they are carpenters, bricklayers, tillers, painters etc. “We want to export them officially under the International Labour Migration Organisation guidelines just like we are trying to do with Qatar,” he said.

    Nigeria, according to the minister, no doubt, has high skilled professionals such as engineers, medical doctors, nurses and others already  in the UAE, but wants to push people from the  middle cadre who have  blue collar skills.

    Amb. Mahmood Mohammed assured that the UAE would cooperate with Nigeria to promote trade and employment.

  • Fed Govt urges China to reduce debt burden

    Fed Govt urges China to reduce debt burden

    The Federal Government has appealed to the Chinese government to blend its grants with loans to reduce debt burden on the country.

    Speaking at the China-Nigeria Economic and Trade Cooperation Forum in Abuja yesterday, the Minister of National Planning and Budget, Senator Udoma Udo Udoma said current Chinese efforts in assisting Nigeria are commendable. He said the government would like to ask for more support to help turn the economy around.

    He said the intervention of the state-owned Chinese firms, such as the Chinese Civil Engineering Construction Company (CCECC) can adopt a funding option that blends grants with loans to reduce debt burden repayment.

    A major constraint to business development in Nigeria, Udoma lamented, is infrastructure which is contained in the new China-Africa plan announced by President Xi JinPing during the Johannesburg summit.

    Udoma said: “More can still be done by our partners in terms of grant support to infrastructure; we also believe that the Chinese private sector can improve on the areas of technology, agriculture and solid minerals.”

    The government tried to woo the Chinese investors present at the forum, by stating: “Nigeria is open for investors and we have attractive incentives, our tax policies are investor-friendly; the current administration is committed to addressing the inhibiting factors including corruption that cripple business environment; our target therefore is to make Nigeria the preferred destination for investment in Africa.”

    He said Chinese businessmen can benefit from opportunities from these incentives noting that Chinese direct investment in Nigeria stood at $2.5 billion last year. In specific terms, the China EXIM Bank has been very supportive of Nigeria’s development, the bank advanced a concessionary loan of $1.1 billion to support infrastructure development in the country and more than 200 Chinese companies are currently in Nigeria in various areas of the economy.

    In his address, the Economic and Commercial Counsellor of the Chinese Embassy, Zhao Linxiang, said during President Muhammadu Buhari’s stay in China next month, “the two leaders will further discuss on how to fully implement the fruits of the summit including the 10 major cooperation plans and relevant financing arrangements and how to carry them out into projects which are conducive to Nigerian economic development.”

    Speaking for the Chinese private sector, Vice President, Huawei West Africa, Mr. Cao Aijun, said: “In Nigeria, Huawei will continue to employ an open approach, remain trustworthy and dedicated, build partnerships, and constantly reflect on our work while sharing success with our customers.

    “Huawei will continue to comply with local laws and regulations, ensure workforce and employment compliance, pay taxes, proceed with our localisation efforts, and develop the industry ecosystem with our local partners. To fulfill its corporate social responsibilities, Huawei will actively implement our talent development programme in collaboration with the Federal Government to boost employment.”