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Tag: Fed Govt

  • Fed Govt saves N500b from looters

    The Federal Government Wednesday said its financial policies have resulted in  saving of over N500 billion which would have been looted from Ministries Departments and Agencies (MDAs).

    Permanent Secretary, Special Duties, Federal Ministry of Finance, Dr. Mohammed Dikwa,  said the government was able to make this huge savings by plugging leakages and wastages in government.

    He said: “If the initiative was not in place, this amount of money we are talking about would have been spent by MDAs. It was because of this initiative that was put in place that we were able to save that money from treasury looters. “When we came up with the policy, an average of 11,000 tips were received on a monthly basis, but now, we hardly receive 20 to 30 tips simply because people have reduced wrong doing in government.”

    Dr. Dikwa spoke when he received in audience in his office, the Alumni of National Institute for Policy and Strategic Studies (NIPSS), Abuja Chapter.

    He told the visitors that most of the achievements were recorded under his leadership at the Presidential Initiative for Continuous Audit (PICA), which he attributed to the experience he got from NIPSS.

    He said: “Over the last four years, this administration has put in place a lot of policies on ground especially the financial policies put in place at the Ministry of Finance. There are tangible results we got over the years. One of the fundamental achievements was saving by the government of over N500billion from leakages and wastages under  PICA.

    “The primary focus of PICA is to put systems and frameworks in place over finance and spending of government revenue. The goal is to maximize the utilisation of the resources through continuous assurance, so as to ensure that requirements for improved efficiency, effectiveness and accountability are met.

    “PICA has also put in place many measures such as the Whistle-blowing Policy. We were able to make not only recoveries, but stopped people from doing the wrong things as far as the government circle was concerned.”

    According to him, in the past, when funds are released to MDAs for specific purposes, the funds were usually diverted into other things arbitrarily. “The external auditors will not know, so we came in between the external and internal audit to ensure that the money that is being released into MDAs are spent for that purpose, and we held all the Account Officers accountable for every kobo released to them,” he said.

    He said the Federal Government recovered over N144.89 billion in March last year from corrupt officials through the implementation of the Whistle-blowing Policy.

    Dr. Dikwa said: “Another initiative was the Fiscal Sustainability Plan. A plan that was extended to states and local governments because there was this cry from the states and local governments that all our policies were concentrated at the federal level and not being extended to states and local governments, so we came up with Fiscal Sustainability Plan.

    “We gave 22 conditions to the states and local governments as an incentive for them to get a kind of support from the Federal Government, provided they follow these 22 conditions. One of these conditions was to ensure that they publish every expenditure they had through their websites and other publications; their allocations, what comes to the states monthly and budget process.”

  • Fed Govt promises special salary for teachers

    The Permanent Secretary, Federal Ministry of Education, Sonny Echono has promised a special salary scale for teachers to attract best brains to the teaching profession.

    Echono said this at the Africa Edutech Conference 2019, organised by the Nigerian-British Chamber of Commerce (NBCC) in partnership with the Edufirst.Ng at the Havilah Event Centre, Lagos.

    Tagged: “Education, Technology and A synergy that Works”, it brought together hundreds of pupils, business leaders, academia, schools owners, government representative and Itech companies. It featured seminar, panel discussion, students pitch and exhibitions.

    He said: “We are working on a special remunerations package that will encourage teachers and attract new qualified and smart teachers to come into the teachings profession. Teaching has suffered and it is the bedrock of development within the educational sector.”

    Echono recalled that in the past, the best students were retained in schools, and recruited as graduate assistants “because the natural law states that the person who knows more should teach others and not vice versa”.

    He said it is very unfortunate that that those who can’t find jobs elsewhere will go and be teaching until another opportunity comes up “and by policy, we encourage it”.

    Teaching, he said, became an all comers’ affairs because the cut off mark to study education in colleges of education is the least, when needs to be reviewed.

    He assured stakeholders in the educational sector of government’s readiness to facilitate growth and provide insurance for vulnerable children for them to go to school, while regulating the affairs of the sector.

    Echono said:”Government should be facilitator as well as an insurance for those vulnerable segment of the society;  those that cannot afford to pay school fees to help them as a right. Under our policy, basic education for children is free as well as compulsory.”

    He said beyond government’s responsibility, there is a shared responsibility among all stakeholders, which include community leaders, faith based organisations, business leaders,  parents as well as students themselves that would ensure that they acquire the right skills and develop themselves for the challenges of the future.

    In her words, NBCC Director General, Olubummi Afolabi said the conference was set to create a convergence and pragmatic conversation among stakeholders in the education sector towards improving learning outcomes among students.

  • Fed Govt, Sterling Bank, others partner on renewable energy

    The Federal Government, Sterling Bank and Virtus Energy Solutions Limited are partnering to enhance power production for small businesses.

    Managing Director/Chief Executive Officer, Rural Electrification Agency, Damilola Ogunbiyi, said the project will provide electricity access to over 80,000 shops across 16 economic clusters, empower over 340,000 micro, small and medium size enterprises, create over 2,500 jobs while serving over 18 million Nigerians.

    “This is a significant milestone in the financing of the Energizing Economies Initiative. Since the deployment of off grid electricity solutions at various markets across the country, we are already witnessing positive environmental and economic impacts. This is the sort of intervention we look forward to scaling across Nigeria with support from financial institutions,” he said.

    Ogunbiyi said the Federal government through the Rural Electrification Agency, is implementing the Energizing Economies Initiative (EEI) which supports the rapid deployment of off grid electricity solutions to provide clean, safe, affordable and reliable electricity to economic clusters (e.g., market places, shopping centres, industrial facilities) through private sector developers.

    The REA worked in collaboration with the USAID sponsored programme, Power Africa. Power Africa provides technical advisory support to this initiative, which is already transforming businesses in Sabon Gari market, Ariara market, Sura shopping complex and other economic clusters with sustainable, clean and affordable power supply by increasing economic activities, spurring business growth, fostering job creation and enhancing the business experience.

    “Technical advisory is a key pillar of assistance Power Africa provides to Nigeria’s power sector. We are focused on ensuring initiatives like the Energizing Economies are designed and implemented with regulatory, legal, financial, transactional and project management support,” said the USAID/Nigeria Mission Director, Stephen Haykin.

    The Central Bank of Nigeria (CBN) as part of its wider mandate towards ensuring economic development, productivity, macro-economic stability and economic diversification has shown commitment towards ensuring the successful implementation of the EEI.

    On its part, Sterling Bank has been an industry leader in financing off-grid energy solutions through its multi-pronged approach aimed at ensuring the delivery of projects that provide electricity to communities and businesses and has extended a five  year facility worth N446 million  to Virtus for the deployment of distributed energy solutions across selected economic clusters in Nigeria.

  • Fed Govt seeks HP’s partnership on counterfeiting

    The Federal Government may have jettisoned its local contenet policy in the information communication technology (ICT) sector as it has promised to embark on general survey on HP computers and toners, partner the foreign original equipment manufacturer  (OEM)  to procure its genuine products for maximum output.

    The Permanent Secretary, Federal Ministry of Communications, Mr. Musa Istifanus, made the promise during a meeting between officials of the Ministry and a delegation of HP Computer Manufacturers Company in Abuja at the weekend.

    Analysts say this contradicts government’s position on local content policy as contained in ‘Executive Order 5 for Planning and Execution of Projects, Promotion of Nigerian Content in Contracts and Science, Engineering and Technology’ (the Order) signed into law last year by by President Muhammadu Buhari.

    Represented by Director, Information Communication Technology (ICT), Mrs. Monilola Udoh, the permanent secretary described the rate of counterfeit products in the country as a problem and worrisome, assuring that the Federal Ministry of Communications would take a lead to survey all HP computers in the Federal Government ministries, departments and agencies (MDAs).

    “We will encourage registration with HP to supply genuine computer systems and parts, service the bad ones through their certified engineers and distributors to put an end to the ugly trend of illegal distributors who make consumers to pay more for bad products that end up not serving their purposes,” Istifanus said.

    He regretted that there are so many fake products in the market hence and urged the company to intensify enlightenment campaigns and workshops to educate consumers on how to identify fake products and their implications on their (consumers) economy.

    He also urged the firm to organise a workshop for all procurement directors in the MDAs to sensitise them on the negative effects of counterfeit products, how they affect manpower and how to avoid falling victims so that public funds would not be wasted on buying products that would not serve their purposes.

    He said product counterfeiting is a general problem, thus, Federal Ministry of communications would partner the company to avoid patronising fake products and secure toners service programme from it (HP) to safe the Federal government from avoidable costs

    In a remark at the meeting, Manager, HP Company, Emmanuel Eze said the firm is determined to provide consumers satisfaction having put in place certain control measures such as buying the products through authorised distributors and retailers, monitoring their activities while enlightening the beneficiaries on how to avoid counterfeit products.

    In a presentation at the meeting, the Business Manager (HP), Olamide Ojo said there are so many counterfeit products in the market which according to him, is a global phenomenon not peculiar to Nigeria alone, where illegal manufacturers fake their products to look like the originals which at the end failed to serve the consumers.

    According to him, the ugly trend of counterfeit products has not only cost the company millions of dollars but has also cost unsuspecting consumers their hard earned money and rid them from consumer satisfaction.

    The meeting which was meant to address the increasing rate of counterfeiting HP products in the market with the view to address the menace so that the Federal government and unsuspecting consumers would not lose their hard earned money to buy fake products that would not stand the test of time after they were purchased.

  • FG to British Parliamentary Group: Nigeria not persecuting Christians

    The Nigerian Government on Thursday repudiated claims by a group styling itself as Northern Christian Elders Forum, who alleged that the Muhammadu Buhari administration is practicing bigotry and alienating Christians.

    The response by the Nigerian Government, according to a statement by the Senior Special Assistant on Media and publicity, Garba Shehu, is contained in a letter to the British Parliamentary Group, signed by Nigeria’s High Commissioner to UK, George Adetola Oguntade.

    He said “Two letters were addressed to Rt Revd Philip Mounstephen, a former secretary of the Church Missionary Society (CMS) and now Head, “Independent Review of Foreign and Commonwealth Office (FCO) Support of Persecuted Christians, “and Baroness Berridge, the Chair of “All Parliamentary Group for International Freedom of Religion or Belief. ”

    In the correspondences, he said, the Nigerian government strongly dismissed as inconceivable and outrightly false, allusions to the effect that the Boko Haram terrorism served a government agenda against Christians.

    “It would be useful for me to engage with this process to ensure that you are thoroughly briefed on the situation in Nigeria, “High Commissioner Oguntade wrote in the correspondences.

    Responding to the interim report on Foreign and Commonwealth Office Support for Persecuted Christians, Oguntade, a retired Justice of the Supreme Court, told Rev. Mounstephen: “The safety and security of all Nigerians, whatever their faith, is a fundamental priority of the Buhari Government. The government knows that Nigeria can only achieve its potential if there is religious tolerance and cooperation.”

    The High Commissioner explained that President Buhari’s deputy is a Pastor, adding that the President “has befriended Church leaders and church groups both within and outside Nigeria.”

    He added that the President’s cabinet is balanced between Muslims and Christians, noting that he himself was a former Chancellor of the Church of Nigeria (Anglican Communion).

    Read Also; FG, States, LGAs share N679.699bn in May

    According to Justice Oguntade, Vice President Osinbajo has maintained regular contacts with Christian and Muslim leaders as part of efforts to build and sustain interfaith dialogue.

    Stressing that the country’s security challenges had no ethnic and religious colourations, the High Commissioner said the farmers/herders clashes predated the Buhari administration, noting that such clashes bordered on the desire for pasture by the herders and the desire to protect crops from encroachment and destruction by the farmers.

    Oguntade explained that these clashes had a long history and the Buhari administration is taking a major step to address the root cause of these crises and violent clashes pitting Muslim and Christian farmers alike against the herders.

    According to the High Commissioner, “the issue of grazing routes is historically central to these conflicts and the Buhari administration is taking a holistic approach to the matter with a view to ending it once and for all, so that Nigerians can live in peace with one another.”

    He, therefore, assured the international community that the Buhari Administration would ensure that “the competition over scarce land is resolved peacefully for the benefits of all parties.”

    The Nigerian government also rejected attempts by the reporting group to link Boko Haram terrorism with official policy, stating clearly that the violent acts by the terrorist group predated the Buhari administration, like many others that were inherited on coming to office in 2015.
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  • Fed Govt orders metering of MDAs over rising debt

    The Federal Government has directed Meter Assets Providers (MAPs) to provide meters  to Ministries, Deparments and Agencies (MDAs), to give them access to electricity, The Nation has learnt.

    Currently, the monthly debt profiles of these agencies is estimated at over N5billion.

    It was gathered that the directive follows the usual bickering over electricity debts between military formations/barracks and the power distribution companies (DisCos), coupled with the fact that the MDAs appear not ready to settle their debts in time.

    A source in the Nigerian Electricity Regulatory Commission (NERC) who craved anonymity said the MDAs debt is a  subject of contention between the Federal Government and the DisCos, adding that the directive was given  in order to resolve the problem once and for all.

    The source said:  “The government does not want anything to hinder the metering procees, as contained in the new metering programme introduced on April 2018.  That is why the government wants everybody to be metered.

    Read Also: FG to electrify 37 federal universities — Minister

    “Sequel to this, NERC has advised the MAPs to stick to the rules and regulations that are guiding the new metering programmes

    “One of the rules is that the MAPs must provide meters to both the customers  that are indebted to the DisCos and those not indebted. “The aim is to nip in bud the crises that surround metering problems in the country.”

    He said the debt profile of the MDAs is now N5billion monthly, as evident by the recent financial audits carried out by the 11 DisCos.

    In a related development, the Chief Executive Officer,New Hampshire Capital, Mr Odion Omongoman, said MAPs would not renege on its decision to meter every consumer.

    In an interview with The Nation at the weekend, he said arrangements have been put in place to minimise the electricity to the barest minimum level.

    “To reduce the mounting debts profile of consumers,  we (MAPs) are directed to meter everybody first; thereafter debtors  would find a way of paying money owed the power firms. It is our right to meter you, whether you are owning electricity bills or not.,” he said.

  • Fed Govt exceeds oil budget target

    Nigeria’s crude oil and condensates production has risen to 2.323 million barrels per day (bpd), exceeding the 2019 budget benchmark of 2.3 million bpd.

    The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, who spoke in Abuja on Tuesday while receiving in audience, the national officials of the Nigerian Union of Journalists (NUJ), said Monday’s crude oil output figure was a significant improvement from the average daily production of 2.1 million barrels recorded last year.

    The NNPC chief also revealed that the corporation had recorded significant growth in its gas output, noting that it has grown the country’s gas production from about 450 million standard cubic feet (scf/pd) to about 1.5 billion SCF/pd currently.

    He said officials of the state run oil firm are now negotiating foreign direct investments (FDI) for the petroleum industry to the tune of $7 billion, a significant improvement from the $3.6 billion recorded in 2017.

    Baru said: “Since we came in July 2016, we had been focused on increasing production of oil and gas and condensates. At some point, our national combined production was about a million barrels; I am happy that as at the end of 2018, we have moved on, averaging last year, about 2.1 million barrels.

    “As I am speaking, this morning, I look at our production figures, combined oil and condensates we are pushing 2.32 million barrels a day. This stability and ability to push production has come as a consequence of several factors, both internally, externally and also with the help of the media.

    Read Also: ‘Why Fed Govt adopted $60 benchmark for oil in 2019 Budget’

    “Our drive for transparency has also produced a lot of fruits. We have been able to attract FDI into the oil and gas industry and in 2017 alone, we attracted about $3.6 billion. In 2018, we shot it up by $3 billion; at the moment, some of our officers are in London, where they are negotiating sums in the region of $7 billion as FDI for the oil and gas sector.”

    Baru said NNPC had been able to reduce the cost of crude oil production, dragging it down from $27 per barrel in its Joint Venture (JV) operations to $22 per barrel, adding that it was looking at further reducing it to about $20 per barrel.

    He said the Federal Government currently does not have funds to finance the revamp of the country’s refineries, noting that the corporation was currently engaged with some contractors to carry out checks on the refineries and present the findings to the financiers who had agreed to fund the rehabilitation.

    “At the Port Harcourt refineries, the contractors are on site; they are carrying out every checks and lots of non-destructive testing. We believe that by the end of October, we would have detailed review and we would approach our financiers, clearly on financing basis; raise the funds because they are quite willing to fund the operations.

    “NNPC would do that and pay the loans as appropriate, being that government does not have sufficient funds to finance the refineries rehabilitation. That is why it is taking time,” he said.

    Baru, who said the corporation was yet to hit its TD in the oil drilling in Kolmani River 2, in Bauchi State, said “may be next week we will hit the TD.”

    He explained that an interesting thing is happening in the exploration, which is accountable for the longer time that the project has taken instead of the 60 days from February 2, 2019.

  • Explore opportunities in taxation,Fed Govt told

    There are hidden economic opportunities in taxation which government should explore by brining more people into the tax net, Alpha African Advisory Executive Vice Chairman,  Mustafa Chike-Obi, has said.

    Speaking to financial journalists in Lagos on the theme: “Repositioning Nigerian Economy for Sustainable Growth”, he said Nigeria’s tax rate at 30 per cent is one of the highest in the world, adding that multiple taxation should be discouraged.

    Chike-Obi, who was former Managing Director/CEO Asset Management Corporation of Nigeria (AMCON), also  spoke on intervention funds, and why adequate infrastructure is needed to stimulate the economy instead of relying solely on intervention funds.

    He also spoke on the need to lend at lower interest rate at around 12 to 15 per cent per annum and considerations by foreign creditors in lending to emerging markets.

    “All these intervention funds, don’t work. And let me tell you why they don’t work. If you  lend to a farmer at five per cent, you think you are helping him, but everything around him is at 26 per cent. So, he gets a little bit of relief on his financing, but he doesn’t get reliefs on his supplies, diesel, food, employees, so at the end of the day, those things he gets at 26 per cent invades his five per cent,” he said.

    Chike-Obi said intervention funds also don’t work because “the default rates are as high as default rates of non-intervention funds. So, they don’t work. They are not very efficient”.

    According to him, what the economic managers need to do instead, is to provide capital at a reasonable interest rates that work for everyone.

    He said: “There must be access to capital at a reasonable price. With 26 per cent interest rate, you cannot do a business successfully. So, we must find a way to provide interest rate to everybody at a reasonable rate. We must have an interest rate that will support our economy. And it cannot be much higher to the borrower at 12 to 15 per cent. Every Nigerian should be able to borrow money at between 12 to 15 per cent, so, we must have capital available.

    He also spoke on the foreign lenders look out for in lending to developed markets, arguing that borrowing in dollar may not be cheaper in the long-run.

    He said even when one borrows dollar at eight per cent for instance, the creditors will be looking at the exchange at the time of repayment, which is unlikely to remain at N360/$. He said the foreign creditors also consider borrowers, who have the capacity to generate needed funds for repayment of loans.

    “The reason they are lending money at eight per cent, instead of 16 per cent, is because they know that by the time that money matures, your Naira will not be exchanging at N360/$. This is because the Naira always depreciates by approximately 50 per cent in every five years,” Chike-Obi said.

  • Tackle air pollution, Fed Govt told

    THE African Centre for Leadership, Strategy and Development (Centre LSD), a non-governmental organisation, has urged the Federal Government to address the rising menace of air pollution.

    In a statement, its Senior Programme Officer, Amodu Lawal, said: “Air is critical to human existence as without it, there can be no life. Yet, a polluted air has the capacity to unveil numerous health problems, including respiratory diseases that have led to loss of several lives even in Nigeria.’’

    He noted that air pollution constitutes lead in  environmental risks estimated to have resulted to seven million deaths globally.

    He said Nigeria ranks fourth deadliest globally with 150 deaths per 100,000 attributed to air pollution.

    Lawal said air pollution is common in Nigeria, particularly in the Niger Delta, where gas flaring is prevalent.

    The statement also noted that a  report on gas flaring has shown a considerable increase despite government’s determination to reduce the danger.

    He said: “Air pollution is a big concern the world over. The respective peoples of the world, including Nigerians, can’t stop breathing due to the rampaging advent of air pollution and therefore it behoves on all stakeholders, governments, oil companies, communities and civil society organisations to work to reverse the phenomenon. This will, no doubt, help to improve our air quality and better impact on the lives of the peoples of the world.”

    This year’s World Environment Day held with the theme, ‘Beat air pollution’, urged people to explore renewable energy and green technologies and improve air quality in cities and regions.

    Spearheaded by China, the host of the World Environment Day celebrations, United nations (UN) Environment’s campaign theme was #BeatAirPollution. It culminated into many registered events and commitments.

    “Protecting our blue skies may be difficult, but our future relies on it,”  UN Environment Acting Executive Director,, Joyce Msuya, said during the global celebrations in Hangzhou.

    “And they are our blue skies. It doesn’t matter if you’re in Beijing or Beirut, when we look up we see the same sky. And I think when we look to China, we see many examples of how to protect it.”

    Over the past decade, the Chinese government has taken drastic measures to limit air pollution in its biggest cities, bringing back blue skies in Beijing, Shanghai and other megacities, benefitting the health of millions.

    President, People’s Republic of China, Xi Jinping, said: “Humankind only has one planet. Environmental conservation and sustainable development are the common responsibility of all countries. Ecological civilisation is built into China’s national development architecture and strategy. China will work with any and all to implement the 2030 agenda to protect our only planet.’’

    “Today, we face an equally urgent crisis. It is time to act decisively,” UN Secretary-General António Guterres said in his message to the World Environment Day.

    “My message to governments is clear: tax pollution; end fossil fuel subsidies; and stop building new coal plants. We need a green economy not a grey economy.”

    According to him, air pollution goes to the heart of social justice and global inequality.

  • Nuclear Energy: Fed Govt must rid Nigeria of insurgency

    Nigeria must rid itself of insurgency and other issues that are threatening its peace and tranquility, if it wants to produce nuclear energy for growth, Chief Executive Officer, Century Power Generation Nigeria Limited, Mr Chukwueloka Umeh, has said.

    In a chat with The Nation on phone at the weekend, he said there was nothing wrong with plans by the Federal Government to generate nuclear electricity, adding that countries in Africa and beyond are doing the samething.

    Umeh said: Production of nuclear energy by Nigeria is a good step in the right direction. However, the country must not lose sight of the fact it has to deal with insurgency and other acts of terrorism that are gradually creeping into the country. The reason is because nuclear energy is  produced with high technology; that must be managed well at all times.”

    He continued: ‘’ You would recall that earthquake and tsunami struck in  Eastern Japan on March 11, 2011. This caused  a serious accident at the Fukushima Dai-ichi nuclear power plant on the northeastern coast of Japan. The earthquake cut off external power to the reactors.Tsunami, which has reached levels more than twice as high as the plant was designed to withstand, disabled backup diesel generators, crippling the reactor cooling systems.

    He added that: ‘’As a result of this, battery power was quickly exhausted, and overheating fuel in the plant’s operating reactor cores led to hydrogen explosions that severely damaged three of the reactor’s buildings. Fuel in three of the reactor cores melted, and radiation released from the damaged reactors contaminated a wide area surrounding the plant and forced the evacuation of nearly half a million residents.

    He said China and other countries have had a fair share of the accident caused by explosion of nuclear technology.

    Nigeria, he said, is battling with Boko Haram and other terrorist activities, adding that any attempt by such groups to tamper with the nuclear technologies can sweep off, for instance,  a place like Lagos.

    Umeh said in countries where nuclear power plants have been built to produce  thousands of electricity megawatts (Mw) needed to bring about socio-economic growth, technologies that can withstand the explosions are provided.

    ‘’That is the more reason the Federal Government must try and put an end to Boko haram among other activities that are related to insurgency, if it wants Nigeria to benefit from the  production of nuclear energy. You can imagine the number of people that would die, the properties that would be lost and other losses in the event that the technologies that produce nuclear energy are tampered with by some disgruntled elements.’’ he said.