The Nation Newspaper

Tag: Fed Govt

  • Fed Govt to criminalise vices by operators 

    Fed Govt to criminalise vices by operators 

    Henceforth, vices among practitioners will be treated as criminal offences, Commissioner for Insurance, Mohammed Kari, has said.

    He spoke at the ongoing Insurance Professionals forum with the theme, “The Nigerian business environment, implications for insurance industry’’, in Abeokuta, the Ogun State capital.

    He claimed most of the actions of  professionals are criminal. “The challenges of huge competence deficit, corruption, low level of innovation, over-dependence on the oil sector leaves all asunder to phantom the best soluble buyouts and how to harness the opportunities inherent therein.

    “In consequence of the effect of uncontrollable changes in the macroeconomic environments affecting our businesses, organisations and entities either passively or negatively, we are therefore implored to map-out adaptive strategies and identify the opportunities inherent in the ‘change’. As far as innovation is concerned, we need to improve the content and quality of our services. In addition to our quest for innovation, changes in companies’ business model must be exploited. The earlier we realised that the music has changed and thus the need to adjust our dancing steps, the better for us all, ‘’ he said.

    Kari continued: “We have seen unbridled, unsustainable and technical unsound rates being offered by supposedly insurance professionals more out of the need to meet a target than to properly underwrite. Professional brokers’ takes business from contraptions called ‘sub-agents’ who by the way are not registered by anyone. Premiums are loaded, discounted, retained or returned with impunity market indiscipline among practitioners, boards and management conflicts may degenerate to threatening the stability of some of our companies. The implication of such practices on the insurance industry in this new Nigerian business environment is the gradual diminution of our professional relevance as a veritable shield for the financial sector of the economy. We must all have zero tolerance for these unethical practices and vices. Most of the actions of our professionals are actually criminal.”

    Kari stressed that the industry would no longer sit on the sidelines and allow opportunities to pass by.

    He charged professionals to correct themselves than be corrected by external forces.

    In her address, the Chartered Insurance Institute of Nigeria (CIIN) President Lady Isioma Chukwuma said the survival of the industry was non-negotiable.

    She said it was their collective drive to reposition the industry and to reinforce the integrity of the profession.

    “This can only be achieved by our individual and collective commitments to the ideals of ethical and professional best practices.

    “We are charting a new course aimed at consolidating the recent gains of the industry for national economic growth. It is pertinent to reiterate that this agenda is what I have set for my tenure as the 47th President of the institute. It will be driven by means of an articulated action-plan geared at reinforcing the identified projects and ensuring their logical conclusion. This approach will also engender a rolling plan for the growth and development of our institute,, she said.

  • Sanusi urges Fed Govt on infrastructure growth

    Sanusi urges Fed Govt on infrastructure growth

    Former Central Bank Governor, and Emir of Kano, Sanusi Mohammed 11,  has advised the Federal Government to adopt a holistic approach in resolving infrastructural problems in order to move the country forward.

    He said infrastructural development should not be limited to road construction, but extended to other sectors, such as health and education to achieve meaningful socio-economic growth.

    Sanusi, in a statement  while giving his approval to the forthcoming 2015 Nigeria Infrastructure Public Private Partnership Summit  billed to hold in the last quarter of this year, said the development of social infrastructure, especially health and education is critical to the wellbeing of the people.

    In the statement entitled: ‘Emir of Kano, Sanusi Mohammed 11 Welcomes Focus on Social Infrastructure at the forthcoming Infrastructure Private Public Partnership (PPP) Summit,’  said  this during a visit to his palace in Kano, by the Summit Planning Team headed by A. B. Mahmoud, a Senior Advocate of Nigeria (SAN).

    He said the non-implementation of several recommendations from previous successful Summits by past Governments, has affected infrastructural developments in Nigeria, urging the team to ensure that the summit provides solution to  problems relating to infrastructural gaps among others,  besetting the growth of the country.

    His words: “I understand the critical role infrastructure plays in developing our economy, and in particular, the need for Nigeria to address the key social infrastructure deficit particularly in education and health that will deliver a better quality of life not just for the elite, but for those in society for whom access to one thousand naira could make the difference between losing a child and obtaining the medication and treatment that could save a child’s life”.

    In his response, the leader of the delegation, Mahmoud, said the summit would put in place a roadmap that would make government at all levels work together to develop critical infrastructure through public private partnerships.

    Also, Gori Olusina Daniel, partner and Africa Regional Director at Adams & Moore, said the summit would focus on four critical sectors– Power, Health, Transport and Education, in order to align with the Federal Government’s development priorities.

    Olusina, also a member of the delegation, said: “This summit is about charting the way forward in four critical sectors and establishing a private sector led Community of Practice, working in collaboration with government across all levels that will ensure the successful implementation of these roadmaps”.

  • Fed Govt mulls regulatory framework for fertilizer

    The Federal Government has called for the establishment of a regulatory framework to ensure that quality fertilizers are distributed to farmers.

    The government said a draft Fertilizer Bill has passed First Reading on the floor of the National Assembly.

    Deputy Director, Quality Control, Federal Ministry of Agriculture and Rural Development, Mrs. Chinyere Akudinobi, said the government considered it necessary to develop a regulatory framework for quality checks and enforcement to ensure that farmers accessed quality fertilizers.

    In her presentation at the launch of the Alliance for a Green Revolution in Africa, in Abuja, said fertilizer was needed to increase crop productivity and production.

    She said: “Nigeria’s agriculture sector has enormous potential with an opportunity to increase output by up to 160 per cent in 2030.

    “The realisation of the above potential could be achieved by policy capacity, stability, and implementation efficiency, competitive input end subsidy administration system and optimal use of fertilizers among others.

    “One of the measures to ensure quality fertilizers are distributed to farmers especially for the small scale farmers is to establish a fertilizer regulatory frame work system.”

    She said Nigerian farmers used 790, 000 metric tonnes (MT) of fertilizer annually, adding that off this,  280, 000 MT are blended locally every year while the rest are imported.

    She said:“It is in this direction that AGRA is supporting the ministry in the establishment of an efficient fertilizer regulatory system which would ensure that the right kind and quality fertilizers are sold to Nigerian farmers at prices such that while farmers achieve higher crop yields, the environment will not be negatively impacted.

    “The overall objective of the project is to increase household productivity and income through the establishment of a functional fertilizer regulatory system in Nigeria.”

  • Fed Govt expands vocational training for nomads

    Fed Govt expands vocational training for nomads

    Nomadic pastoralists now have the chance to acquire vocational and technical skills education through the Federal Government’s Skills Training and Vocational Education (STVE) Project.

    A report from the National Commission for Nomadic Education (NCNE), which is headed by Executive Secretary, Prof Rashid Aderinoye, stated that the Federal Ministry of Education, backed by the African Development Fund (ADF) is taking steps to widen access of nomadic pastoralists to basic education and reduce poverty among them through the STVE project.

    It said the ongoing project, which includes training in ICT skills development and e-learning, beekeeping and honey processing, dairy processing and livestock health and production, will improve access to training for disadvantaged and underemployed young children of nomads.

    “The project aims at achieving the Federal Government of Nigeria’s poverty reduction initiatives that seek to expand access to basic, non-formal and vocational skills education with the aim of achieving the Education for All (EFA) and Sustainable Development Goals (SDGs).

    “Similarly, the project will improve access to training for disadvantaged and underemployed young women and men, including basic education cycle school leavers as well as provide scholarships to pre-service nomadic teachers in the areas of bee keeping, dairy processing, animal health and production; shea butter processing; ICT and E-learning and sewing and knitting,” the report said.

    Already, the ICT project has been reported to boost enrolment in the NCNE Model Training centres located in Wuro Nyako, Kachia Grazing Reserve, in Kachia Local Government Area of Kaduna State and Paikon- Kore Grazing Reserve in Gwagwalada Area Council of the Federal Capital Territory (FCT).

    “The benefit of the e-learning activities has boosted enrolment in grazing reserves which were carved out to engender gradual settlement of nomads. In a bid to create windows of opportunity for pastoral children to receive formal education as well as other social services hitherto not enjoyed by them.  The aim of setting up the e-learning centers is to expose the nomadic children to the use of Information Communication Technology (ICTs) in achieving literacy and numeracy skills while helping teachers to enhance their knowledge and competencies in effective content delivery,” the report noted.

    Through the STVE project, NCNE hopes to increase the participation of female in technical and vocational education from 19 per cent to 30 per cent.

    The report noted that training in the various skills have potential to generate millions of naira once established as small businesses.

     

  • Osinbajo: Fed Govt to adopt zero-based budgeting

    Osinbajo: Fed Govt to adopt zero-based budgeting

    The Federal Government will adopt a zero-based budgeting format for next year, Vice President Yemi Osinbajo said yesterday.

    He spoke while receiving the National Economic Summit Group (NESG) at the State House in Abuja.

    He also received a delegation from the Chartered Institute of Stockbrokers (CIS) and the Association of Stockbroking Houses of Nigeria (ASHON).

    The zero-based budgeting, he said, will be carefully coordinated to ensure that it is policy-driven, especially regarding the proposed social intervention policy of President Muhammadu Buhari’s administration.

    Zero-based budgeting is planning according to needs and costs, different from the existing Envelope Budgeting or traditionally incremental budgeting whereby the planning is based on existing income and expenditure as the deciding factor in national financial planning. This often incurs waste and assumes previous costs as constant.

    Osinbajo, according to a statement by  his spokesman Laolu Akande, also told the NESG that the introduction of the Treasury Single Account (TSA) policy and its implementation by Ministries, Department and Agencies (MDAs) is a creative way of blocking leakages in the system to make way for a workable budget.

    Through the zero-based budgeting, he said, the Federal Government will focus on a bottom-up approach to development.

    According to him, the Federal Government is also planning to set up an infrastructure fund to facilitate easy funding for critical areas of the economy.

    [ad id=”403656″]The fund, Osinbajo said, will be planned outside of the budget to handle major segments of the economy, such as road and power.

    “Government is working out a document that would guide the administration within the four years of its life-span,” he said.

    The NESG delegation praised the Federal Government for the introduction of the TSA and offered to be part of the advocacy as a sound financial policy.

    The vice president said the Federal Government would explore the avenue of utilising the capital market as another means of providing alternative funding options for the execution of capital projects.

    He said allowing retail investors to come into the nation’s capital market would ultimately deepen the market with potentials for multiplier effects on other sectors of the economy.

    Some of the problems of the capital market, he said, are due to unethical practices by some operators.

    He said those who caused the crash in the market in the past were not punished, and urged the two bodies to engage in self-regulation as a means of protecting investors and the market.

    The leader of the delegation and Acting President of CIS, Mr. Oluwaseyi Abe, praised the achievements of the Buhari administration within 100 days, especially its impact on security, power and the anti-corruption crusade.

    Stressing on its positive effects on the overall economy, he said a new Nigeria was being formed under Buhari’s leadership.

     

  • External debt is $10.31b, says Fed Govt

    External debt is $10.31b, says Fed Govt

    •Reps decry ministry’s poor presentation

    The state of Nigeria’s debt was made public yesterday by the federal ministry of finance.

    It was at the House of Representatives during the public hearing of 2015 budget.

    Director General of the Budget Office Alhaji Aliyu Gusau, who represented Permanent Secretary Ministry of Finance, Mrs Anastasia Daniel-Nwaobia, told the lawmakers that:  “External debt as at June 30th 2015 stood at $7.74b and $3.42b for states and the FCT; bringing it to the total amount to $10.31b while Federal Government’s internal debt stood at $8.396b.

    “N3.45trillion was budgeted for 2015 out of which capital appropriation was N5579b.

    “Of the amount, N194.492b has been released as at September 15th representing 34.89% of total releases.

    “Of the N375.62b budgeted for Statutory transfer; N187, has been released as at quarter two and N250.41b as at August 2015.

    “Of N231.41b Pensions budget, N149.92b has been released as at at end of August 2015.

    “Public debt to GDP ratio as at 2013 was 10.82%, and N882.122b appropriated for both domestic and external borrowing has been fully raised to finance the 2015 budget.”

    The lawmakers expressed reservations about the capacity of the ministry of finance to effectively drive the Nigerian economy.

    The position of the lawmakers was informed by the discrepancies discovered in documents presented to an ad hoc committee of the House investigating the implementation of the capital component of the 2015 budget.

    The public hearing that was postponed twice due to the non appearance of the Permanent Secretary.  It however got underway yesterday despite her absence.

    She was said to be on the entourage of President Muhammadu Buhari to France.

    Agencies at the hearing included the Central Bank of Nigeria (CBN), Budget Office of the Federation, the Office of the Accountant-General of the Federation (OAGF), the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), the Fiscal Responsibility Commission (FRC) and National Planning Commission (NPC) among others.

    Reacting to the presentation, the Committee said the document was lacking in depth, while particular concern was raised over figures in the submission of some the invited agencies that were contradictory thereby casting doubt about the integrity of the various presentations.

    Chairman of the ad hoc committee, Ahman Pategi, said the sketchy n presentation failed to give the true position of the implementation of the 2015 capital budget.

    He noted that the presentation was silent on revenue accruing oil while there was a need to know shortfall from January to August.

    Besides, he cited the shortfall recorded in non-oil revenue as contained in the document but   was short on explanations on  month-by month details.

    He also said the presentation was vague on the nation’s debt profile as it was silent on the position of each sectors of the economy and how the government planned to liquidate it.

    The chairman was also concerned about the inadequate presentation of the most of the agencies that spanned January to June 2015 rather than from January to August 2015.

    “My own of view of the presentation is that it is very sketchy and does not give a holistic view for full understanding of what the 2015 budget implementation is all about.

    “We had expected you to provide vivid insights into the regime of import duty waiver using explanatory notes to describe how what was done and why”, he said.

    Members of the committee, including Linus Okorie and Wale Oke said documents presented by the Ministry of Finance, the Budget Office and the OAGF lacked credibility.

    Okorie, who said he had no confidence in the documents noted that they were incomplete and contradictory.

    To highlight the discrepancies discovered in the documents presented by the Budget Office and the OAGF, Okorie revealed a difference of N248b over projected revenue for the fiscal year 2015

    He also pointed out another N146.8b difference in figures presented by the two agencies on debt servicing.

    According to the lawmaker, who asked for clarification on the debt profile of the country, documents presented showed that N148b has already been overpaid for debt servicing.

    In addition, Okorie also pointed out the contradictions in the two documents concerning releases to the Subsidy Reinvestment Programme (SURE-P).

    Okorie said while one document stated that the entire N21b SURE-P budget was released 100 percent, another stated that N14b has been released and utilised.

    Wale Oke urged the Committee to adjourn the meeting for a week said the various documents failed show the capacity of the Federal government to implement the 2015 budget.

    The Committee wondered why the Federal government had to borrow to fund non capital expenditure in addition to using local instruments to service its debt. About N882.1billion has been fully borrowed and disbursed to the Consolidated Revenue Account to fund the 2015 budget deficit.

    According to the committee, it is against the Fiscal Responsibility Act to borrow to fund projects that were not contained in the capital component of the budget.

    The hearing was adjourned till Tuesday.

     

  • Tambuwal seeks Fed Govt’s help for flood victims

    Tambuwal seeks Fed Govt’s help for flood victims

    Sokoto State Governor Aminu Tambuwal has urged the Federal Government to resettle some villages ravaged by flood.

    The affected communities are in Tangaza and Gudu local government areas.

    The governor, who visited Sakkwai and Kutufare villages in both local government areas yesterday to sympathise with them, noted that the damage the flood caused was unprecedented.

    Tambuwal said his administration would assess the damage the flood did to homes and farmlands, adding that many victims had been camped at government approved sites across the state.

    The governor directed the road maintenance agency to repair the road linking both local government areas, which had been submerged by flood.

    He cautioned the residents to desist from acts that could block the waterways.

    Tambuwal advised the people to pray against a recurrence of the floods to prevent further destruction of property.

    The governor was assisted round the affected areas by the Director-General of the State Emergency Management Agency, Alhaji Hassan Maccido, who said the flood destroyed over 152 houses and many farmlands.

  • Use recovered funds to create jobs, Fed Govt told

    Use recovered funds to create jobs, Fed Govt told

    President Muhammadu Buhari has been asked to use part of the funds recovered from looters for job creation to  bridge the unemployment gap.

    The Nigeria Labour Congress (NLC) and its affiliates were also asked to protect workers against  retrenchment.

    These were views expressed at a retreat by the NLC in Calabar, the Cross River State capital.

    The NLC resolved to review its position presented at the 2009 Tripartite National Employment Summit organised by the Federal Government with technical support from the International Labour Organisation (ILO).

    A communiqué signed by NLC President Comrade Ayuba Wabba and General Secretary, Comrade Peter Ozo-Esson, said Labour’s position should reflect the final report of the summit, which stated that four to five million jobs would be created yearly between then and 2020; and the campaign promise of the APC government to create three million jobs yearly.

    It reads: “The retreat resolved to support the determination of the current leadership of congress under Comrade Ayuba Wabba to build a firm coalition of Nigerians for good governance. In this direction, the retreat endorsed the decision of the national leadership of congress to declare September 10, 2015 as a Day of Solidarity Protest Action against the incidences of escalating corruption in our public life, as well as protest against the high cost of governance in this country.

    “The retreat further resolved to call on all stakeholders in the Nigerian project to join the NLC and its allies to massively turn out on this day, and send a clear message to our political elite that Nigerians would not continue to allow very few greedy and unpatriotic members of the ruling elite to continue with the high level of corruption in our country, as well as the unsustainable high cost of governance, with a huge amount of our earnings going to pay the wages and allowances of political office holders, to the detriment of developmental projects, and developmental aspirations of the vast majority of our citizens.”

  • Dons urge Fed Govt not to discriminate

    Professors of Peace and Conflict Studies at the University of Ibadan (UI) Olawale Albert and Tajudeen Akanji have advised President Muhammadu Buhari and governors to shun discriminatory policies that could threaten peace and security.

    They said governments should put in place policies that would ensure equality of persons, irrespective of ethnicity, race or religion.

    The dons spoke at a workshop on ‘Security in a multi-ethnic city’, organised by Konrad Adenauer Foundation, presided over by Mrs. Hildergard Behrendt-Kigozi. The event was held at the UI Conference Centre.

    Prof. Albert, who noted that corrupt Nigerians were a threat to peace and security, added that the more policies for protecting groups’ rights were lacking in a multi-ethnic society as Nigeria, the more the country was likely to be plunged into conflicts.

    He said: “It is only those who have stolen from the nation that you will see going with 10 policemen because they are afraid. They make Nigerians insecure because the money allocated for development has been stolen. This is what threatens peace and security. Certainly they cannot be safe when others are not safe. This is why the anti-corruption crusade must apply to all and not be discriminatory.”

    The don enjoined President Buhari to constitute a security management think tank comprising representatives of security agencies and civilian security analysts.

    Speaking on ‘Manipulation of citizenship and indigeneship in Nigeria: Lessons for multi-ethnic cities’, Prof. Akanji said the indigeneship question had created insecurity.

    He urged the Federal Government to lead by example by stopping policies that discriminated in employment, admission to schools, scholarships, school fees and in election.

    Other speakers included Dr. Willie Eselebor, Dr. Onuka, security representatives, monarchs, among others.

  • ‘How Fed Govt should fight corruption’

    Senate Leader Ali Ndume has urged the Federal Government to introduce preventive measures against corruption instead of waiting for individuals to steal before prosecuting them.

    Ndume, who addressed reporters yesterday in Maiduguri, the Borno State capital, noted that the measure would curb corruption.

    He said: “The fight against corruption in Nigeria is a big war; it is going to be tougher than that of the Boko Haram insurgency war.

    “Government must begin to initiate preventive measures against corruption, instead of waiting for people to steal public wealth before taking action.” Ndume represents Borno South Senatorial District in the National Assembly.

    The senator suggested that part of the measures should include mechanism for questioning individuals or public officers with sudden massive wealth.

    He said: “What I am saying is that the government must make deliberate effort to ensure that even those who stole do not find a hiding place in the society.”

    Ndume said the authorities should raise alarm once an individual is suspected to have ill-gotten wealth.

    “For example, once you see a new flashy building coming up in an area, the Economic and Financial Crimes Commission (EFCC) or the Independent Corrupt Practice and Other Related Offences Commission (ICPC) should quickly find out who the owner of the building is, then invite him to say where he got the money to start the project.

    “If this mechanism is on ground, people will think twice before they even steal public money,” Ndume said.

    The senator said Nigerians celebrate public officers who have stolen government money rather than question their source of wealth.

    He said: “How can I, for example, begin to buy big houses just because I became a Senate Leader, when I used to live in my three-bedroom apartment in Apo (Abuja) since 2003?

    “Just because I have become the Senate Leader, I will start buying houses in Maitama and Asokoro in Abuja, and Nigerians will be hailing me and declaring that my time has come.

    “If nobody comes to question me, that will be really sad.”

    He urged Nigerians to key into the anti-corruption crusade of President Muhammadu Buhari’s administration by asking questions, especially if public servants become rich overnight.