The Nation Newspaper

Tag: Fed Govt

  • ‘How Fed Govt can leverage oil, gas to diversify economy’

    RAW hydrocarbon export is hampering the Federal Government’s diversification programme, the Vice Chairman/Chief Executive Officer, Emerald Energy Resources Limited, Dr Jude O. Amaefule has said.

    He said refining crude and utilisation of gas in-country would create huge value and jobs. He noted that taking crude overseas for refinning was uneconomical.

    He cited some member-countries of the Organisation of Petroleum Exporting Countries (OPEC) that own refineries overseas and the importance of policies and environment that would drive the diversification goals.

    In a paper he delivered at the conference of the Society of Petroleum Engineers (SPE), Nigeria Council held in Lagos, Amaefule stated that there is a linkage between the oil and non-oil sectors.

    Nigeria needs to develop a broader-based economy, diversifying its exports to ensure its growth is not affected by global price or demand shock, he added.

    In his paper entitled: “Emerging economic diversification era in Nigeria: Implications on oil and gas supply value chain and investors,” he said: “On oil and gas supply value chain, threats to petroleum export market create opportunities for refining, gas utilisation and other spin-off sectors.

    “Nigeria, as the largest market in in Africa, offers unique opportunities for investment in in the petroleum downstream sub-sector.  However, the government needs to create the required investment climate to spur economic diversification through price liberalisation, strengthened macroeconomic stability, improved independent regulatory and institutional frameworks, which encompasses governance, host communities, fiscal reforms and downstream bills, among other forward and backward linkages.”

    He noted that as the oil and gas sector prepares for gas to overtake oil as the world’s primary energy source in the mid-2030s, nearly two-thirds, about 64 per cent of the industry’s senior professionals expect to increase or sustain spending on gas projects in the year.

    He listed areas gas can be utilised to  include liquefied natural gas (LNG) for export, power, petrochemicals, natural gas liquids (NGLs), liquefied petroleum gas (LPG), urea, fertiliser, pharmaceuticals, and methanol, among others.

    He continued: “In today’s globalised economy with very complex industry interactions, the global value chain (GVC) methodology is a useful tool to trace the shifting patterns of global production, link geographically dispersed activities and actors within the oil and gas industry, and determine the roles they play in developed and developing countries alike. The GVC framework focuses on the sequences of value-added activities from conception to production and end use; thereby examining and engaging the job descriptions, technologies, standards, regulations, products, processes, and markets in specific industries and places competitive advantages.”

    On the global value chain approach, he noted some OPEC countries that have refineries in foreign countries.

    He said Abu Dhabi has refineries in Austria/Germany through the participation of OMV, where it refines 282,000 barrels per day (bpd) and also in Spain through CESPA with 360,000 bpd output.

    Saudi Arabia has refining stakes in United States, through Star Enterprise refining 625,000 bpd in conjunction with Texaco, which owns 50 per cent of the output. In Korea, it operates through Ssangyong refining 146,000 bpd and in Philippines through Petron refining 147,000 bpd as well as in Europe through Motor Oil Hellas refining 100,000 bpd.

    Kuwait refines Denmark, Netherlands and Italy through KPC and KPC/Eni in Italy with refining capacities of 56,000 bpd, 75,000 bpd and 300,000 bpd with Eni responsible for 50 per cent.

    Libya has refineries in Italy, Germany and Switzerland through Tamoil, Holborn and Collombey with refining capacities of 95,000 bpd, 78,000 bpd and 72,000 bpd. Also, Venezuela has refining stakes in the United States, Germany and Belgium/Sweden/UK, through Citgo, Ruhr Oel and Nynas with daily outputs of 725,000 bpd, 716,000 bpd with 50 per cent from VEBA and 62,000 bpd with 50 per cent from Neste. It also refines 260,000 bpd from other sources with 65 per cent from Lyon dell.’’

    He commended the operation of the Nigerian National Petroleum Corporation (NNPC) as an Incorporated Joint Venture (IJV), noting that it would allow the Corporation and operators raise money for their operations outside of the government’s budgets and controls.

    “It will allow NNPC to run as a private company and take decision privately rather than awaiting the approval of the National Assembly before it can make counterpart funding available to its partners. Under the IJV arrangements, NNPC JVs will be turned into a firm that control its own budgets, similar to gas firms, such as the Nigeria Liquefied Natural Gas (NLNG), which sources for its own funding, pays taxes and royalties and also pays dividends to the government from its operations,” he said.

    He cited Indonesia’s diversification method. He said: “Indonesia highlights the importance of using active policies to encourage agriculture in the face of a booming oil sector. Large investments of oil income were used to develop natural gas resources, both for export to Japan and as an input to fertiliser production. Fertiliser was then distributed at subsidised prices, greatly boosting yields. Agriculture and the rural economy were strengthened by a series of successful community-based programmes that absorbed large quantities of labour and produced local infrastructure, including schools, roads and local construction. Indonesia is the 16th largest economy in the world.

    To Amaefule, in achieving diversification, there was need to look beyond the traditional approach  adopted by oil and gas firms such as cost-cutting, vertical integration, mergers and acquisition. Oil and gas firms recognising the evolution of Nigeria to a diversified economy, should develop strategies for local technological capability, retool revenue generation via further processing of hydrocarbon resources, integration into supply and global value chains to encompass higher value-added activities.

    He said the petroleum industry drives the economy as it is responsible for 10 per cent the Gross Domestic Ptroduct (GDP), 83 per cent of government revenue and 90 per cent of foreign exchange revenue.

    “Diversification within the petroleum sector is key to harnessing the linkages to the non-oil economy. This implies Investments across the various downstream sectors to develop Industries relevant in both industrial and consumer products, which Nigeria import.

    “The need to improve the climate for investment in non-oil industry may involve lowering entry requirements, streamlining tax structures and creating investment promotion intermediaries. Nigeria should develop its institutions and infrastructure towards achieving this goal,” he said.

     

  • Fed Govt: No plans to sell NLNG

    The Federal Government has no plans to sell the Nigerian Liquified Natural Gas Limited (NLNG), it was learnt yesterday.

    Speaking in Abuja during an investigative hearing on  three motions by the Fred Agbedi- led House Committee on Gas Resources and Allied Matters, Minister of State, Petroleum Resources, Ibe Kachikwu said there was no plan to sell the NLNG.

    “We are not aware of any plans to sell LNLG by the federal government,“ Kachikwu said at the forum which was addressing the “Need to stop the Sale of the Nigerian Liquified Natural Gas Limited”among other issues.

    Represented by the Director, Gas Resources, Mrs. Esther Ifejika, the minister denied any plan to sell the foreign exchange spinning firm.

    However, Ifejika who said the presentation of the Ministry of Petroleum Resources and that of the Nigerian National Petroleum Corporation (NNPC) were harmonised, could not proceed further at the hearing because glaring discrepancies were discovered in the documents of the Ministry and that of NNPC as presented by Chief Operating Officer, Upstream, Bello Rabiu who represented the Group Managing Director, Baru Maikanti.

    The committee also said the two documents were not authenticated because they were not signed.

    Rabiu said the documents may be different but the figures are the same, adding however that the documents could be taken back for authentication.

    The lawmakers queried the NNPC and the Ministry  over staggering increases in the upgraded contract of OML 58 and the execution of the Northern Option Pipeline.

    It was gathered that the NNPC entered into a JV with Total Exploration and Production Nigeria Limited (TEPNG). There was a Modified Carry Agreement and award to TEPNG to execute the OML 58 Upgrade 1 in 2008, Obite- Ubeta- Rumuji (OUR) pipeline in 2010, and the Northern Option Pipeline in 2011.

    In his defence of the NNPC, Rabiu told the lawmakers that no money had been paid on the variations.

    Total E&P which handled the JV contract said the initial contract sum was $3.45 billion but was eventually increased to $4.6 billion after the consideration of a number of factors.

    But members of the Committee were not happy over the huge variation in the contracts totaling over $1.15 billion.

    The Executive Director, Asset Management and New Energies, who represented the Managing Director of Total, Patrick Olinma,  said it had made submissions on all the issues raised and that  the documents had been submitted to the committee

    However, the committee members insisted that the reason for the variations was because the contractor engaged by Total was incompetent resulting in the extra cost. According to the lawmakers, the allegation was made by the NNPC and yet Total went on to engage the contractors.

    But the representative of Total  said the firm had a duty to comply with the extant Local Content Act, adding that the firm was initially told by the government that there were 14 communities but discovered that there were 74 communities.

    The Committee chairman  said though the parliament made the law, it did not say  the contractor should be employed “as a learning curve.” He insisited that the cost was too staggering.

    The committee said it would like to see the board’s resolution on the contracts before it was awarded to ensure they comply with procurement laws.

    Sunday Katung (PDP Kaduna) who moved the motion to investigate the contract said  the JV contracts, is at variance with the projected budget sums.

  • Fed Govt giving major roads prime attention, says PTD chair

    Comrade Salimon Akanni Oladiti, national chairman of Petrol Tanker Drivers (PTD) branch of the National Union of Petroleum and Natural Gas Workers (NUPENG), in this piece, pays tribute to the Federal Government’s drive to develop major roads aimed at correcting past deficiencies in our pursuit towards a better society.

    The socio-economic development and subsequent economic growth of any nation is strongly linked to its better state of infrastructure. Sadly, there had been massive and annoying deficiency of key infrastructure in Nigeria for decades now. Of great importance to an average Petroleum Tanker Driver is road infrastructure, the brunt of the deficiencies in this infrastructure is mostly felt by the members of Petrol Tanker Drivers (PTD) who traverse the length and breadth of the country to ensure supply of petroleum products for private, domestic, commercial and industrial use.

    PTD had complained bitterly, through various media to every national government in power, on the need to address the challenges faced by its hardworking members faced with hazards occasioned by deplorable roads.

    It is regrettable to say that some of our members suffered permanent disability, while some suffered not only loss of products they haulage but became victims of untimely death. The officials of Federal Road Safety Corps (FRSC) could attest to this, even with verifiable and accurate statistics.

    However, it would also be uncharitable for us if we notice significant improvement in infrastructure development from Rail to Ports, Power and Roads and refuse to announce it or show some measure of appreciation. With no shred of doubt, this administration under the leadership of President Muhammadu Buhari has profoundly shown strong commitment and determination to complete both ongoing and abandoned projects of previous administrations.

    Honestly, when President Buhari appointed Mr. Babatunde Raji Fashola (SAN) minister of Works, Power and Housing, I knew he would swing surprises; we can all see things are improving in all the sectors he is currently superintending.

    Today, there is no state in Nigeria where the Federal Government is not executing one road project with the aim of bringing respite and succour to the people. It is not a mistake or an act of sycophancy to overtly say the country’s Economic Recovery and Growth Plan (ERGP) is for real in the interest of Nigerians and for the records our members are living proof.

    Specifically, the Ministry of Works, Power and Housing has begun the inspection to help ascertain the integrity of 11.8-kilometre Third Mainland Bridge, as preparations are ongoing for its full maintenance and repairs. This deserves commendation, as this is the longest of three bridges connecting Lagos Island to the mainland, a city adjudged as the commercial nerve centre of Nigeria.

    Commendably, this effort is a sheer demonstration of the ministry’s commitment, determination vision, foresight and political will to impact on the lives of the citizenry.

    Other highly trafficked roads, which are presently opened to construction or rehabilitation by this government are; Second Niger Bridge at Onitsha; construction of the dual carriageway of Abuja-Abaji-Lokoja (Sections I-IV) in FCT/Kogi State; construction of the Kano-Maiduguri dual carriage Road (Sections I-V) in Kano/Bauchi/Yobe/Borno states; and the rehabilitation of Enugu-Port Harcourt Dual Carriageway (Sections I-IV) in Enugu/Abia/Rivers states.

    Similarly, the ministry is as well not leaving any stone unturned in ensuring rehabilitation/reconstruction of Lagos-Sagamu-Ibadan Expressway in Lagos/Oyo states; construction of Loko-Oweto Bridge in Nasarawa/Benue states; reconstruction of outstanding sections of Benin-Ofosu-Ore-Sagamu Road in Edo/Ondo/Ogun states; rehabilitation of Odukpani-Itu-Ikot Ekpene Road section I: Odukpani-Itu Bridgehead; and rehabilitation of Ilorin-J’ebba-Mokwa Road.

    The Petrol Tanker Drivers branch of NUPENG is giving these projects mention not for any political reasons but to encourage the ministry to do more. PTD also urge all approving authorities and those saddled with release of capital not to starve concerned ministries with necessary approvals and in situations where extra funds are needed, the National Assembly should not hesitate to approve supplementary budget when call upon to do so for public interest and good.

    PTD is specifically delighted to emphasise that the government has prioritised infrastructure development as key in its development agenda for the country. It is also pleasing to see that government has pledged to construct new and comprehensive network of rural access roads and trunk roads to serve the remote and urban areas, safely and efficiently. This will ultimately mark yet another milestone in the development of the country. I commend this development, seeing that this government is walking the talk and achieving its campaign promises.

    The level and quality of transportation systems in any area are of crucial significance in influencing political, economic and social progress, and these must be considered at every stage of local, national and regional development planning. Without good roads, it is difficult to have socially inclusive development interventions. These include improved accessibility to social infrastructure (schools, churches and health centres), increased access to education and health facilities and improved social interaction and mobility. These are important for social and economic development, improved access to markets through the reduction of transport costs and improvement of the marketability of perishable goods through timely and cheaper transportation.

    On the supply side, direct benefits of improved road networks include reduced vehicle operating costs, savings in travel time, reduced accident costs resulting from the upgrade of the proposed roads, possible savings in road maintenance costs (because roads are bound to withstand harsh weather if they are well-maintained). The APC led government must be commended for this success story. And for us who are key stakeholders in the country’s petroleum downstream value chain, we cannot but express our unalloyed joy for this laudable development at a time like this.

    On our part as PTD, we would never renege in entrenching safety on the roads by eschewing unhealthy traffic behaviour, this we would persistently sustain through periodic training for our members and at no time would we compromise minimum safety standard or any other act that contravenes the high way code. PTD, although has no affiliation with any political party in Nigeria, deemed it appropriate to wish the APC-led Federal Government best of luck and success while it drives the country with purpose and vision that would be beneficial to all.

     

    • Comrade Oladiti wrote from Abuja

     

     

  • Fed Govt doles out N37m to poor persons in Benue

    The Federal Government has so far paid N37.5 million to support the poor in Benue under its Social Re-investment Programme, an official with the State Unit of the Cash Transfer Office, Mrs Mary Igwe has said.

    Mrs Igwe yesterday said the money was paid to 938 extremely poor and vulnerable persons in the state.

    She spoke at a training programme for cash transfer facilitators in Makurdi, that each beneficiary received N10,000 every two months.

    The training has as its theme, “Enrollment of Cash Transfer Beneficiaries using New Mobile Application”.

    She said the programme which covered seven local government areas of the state, began eight months ago.

    According to her, the disbursement of the funds commenced after an agreement between the Federal and Benue Government on the implementation of the social welfare intervention programme.

    She said the beneficiaries had been encouraged to form “financially active groups where so many have benefited from the contribution scheme.”

    On the training, Igwe said it was to acquaint the facilitators on the use of relevant technologies to enrol new beneficiaries into the scheme.

    She said: “The State Cash Transfer Unit has received a list of 4,832 names from the National Cash Transfer office drawn from the National Social Insurance registry for the purpose of re-enrollment using the newly acquired application.

    “The application is intended to automate data captured in the field while minimising data acquisition related problems.”

    She said that the aim was to weed out those who were better off, and allow only the poorest to benefit from the programme.

    The official explained that the register had to be updated to accommodate new beneficiaries while those not within the target group were dropped.

    National Coordinator of the Cash Transfer Office, Dr Timitope Sinkaye, commended the Benue Government for implementing the four components of the Social Insurance Programme.

    Sinkaye appealed to the state government to assist the facilitators with motorcycles to enable them cover rural areas, as the social insurance program was the most important aspect of the SIP.

    “It is in the forefront of the scheme of President Buhari’s efforts in tackling poverty across the state by uplifting the most vulnerable out of the poverty bracket within a time frame,” she added.

  • Fed Govt names 69 projects in Southeast

    THE Federal Government has released the list of the 69 road and bridge projects in the Southeast to debunk allegations of infrastructure neglect by some governors from the zone.

    Minister of Information and Culture Lai Mohammed hinted on the possibility of using recovered loot to fund the projects.

    The breakdown of the projects, according to states, shows that Enugu has the highest with 24, with Anambra 18; Abia 12; Imo 11; and Ebonyi four.

    A statement in Abuja yesterday by Mohammed said although the contracts were awarded before advent of this administration, they were either poorly funded or not funded at all, hence work lingered.

    The minister added that the 69 roads and bridges, spread across the five states in the zone, are in different stages of completion, thanks to the funding sourced by the present administration from budgetary allocations, the Sukuk Bond and the Presidential Infrastructure Development Fund.

    According to him, the government is also looking into the possibility of using part of the recovered looted funds to fund the development of infrastructure.

    Governors of the zone had alleged infrastructure neglect by the Federal Government, through the Director-General of Southeast Governors’ Forum, Prof. Simon Otuanya.

    Otuanya made the allegation when he presented a monitoring report on performance of the 2017 federal capital budget in the Southeast.

    But Mohammed, at a recent function in Ilorin, said the allegation was “incorrect, unfair and fly in the face of available evidence”.

  • Minister: Fed Govt encouraged by non-oil sector growth

    The Federal Government was encouraged by the continuous growth in the non-oil sector which rose by  2.05 per cent in the second quarter, Minister of Budget and National Planning, Udoma Udo Udoma has said.

    The National Bureau of Statistics (NBS) yesterday released second quarter Gross Domestic Product (GDP) statistics, which showed that economic growth slowed.

    This, Udoma noted, was evidence that the implementation of the targeted policies and programmes of the Economic Recovery and Growth Plan (ERGP) is yielding positive results.

    The minister, who was reacting to the NBS report, said that he was happy to see that the economy has continued to register positive growth in the first and second quarters of the year in spite of the security and other challenges faced by the country.

    He emphasised that the focus of the ERGP is on diversifying the economy away from dependence on the oil and gas sector and was encouraged that efforts are yielding fruits by the continuing growth in the non-oil sector.

    The minister noted that this 2.05 per cent growth in the non-oil sector represents the strongest growth in the non-oil GDP since the fourth quarter of 2015.

    The NBS report indicated that the non-oil growth was driven by Transportation (road, rail water and air) which grew by 21.76 per cent, supported by Construction 7.66 per cent and Electricity 7.59 per cent. These three are priority areas of the ERGP.

    Other non-oil sectors that drove growth in the second quarter include telecommunications which grew by 11.51 per cent, water supply and Sewage 11.98 per cent and Broadcasting by 21.92 per cent.

    The minister regretted that there was a slight drop in real GDP growth rate for the second quarter principally as a result of the contraction in the oil sector.

    The oil and gas sector contracted by -3.95 per cent in the second quarter of 2018 compared to a growth rate of 14.77 per cent recorded in the first quarter of 2018 and 3.53 per cent in the corresponding period in 2017.  However, the Minister noted that the contraction in the crude oil and gas sectors is attributable to some production issues which are being addressed by the Nigerian National Petroleum Corporation (NNPC).

  • Fed Govt to save N3tr on raw materials, says Onu

    The Federal Government would save N3 trillion in foreign exchange on raw materials in five years, the Minister of Science and Technology, Dr. Ogbonnaya Onu, has  said.

    Dr. Onu, who spoke in Abuja at the First National Consultative Forum for Regulatory Establishment in Nigeria, said the successful implementation of the National Strategy for Competiveness in Raw Materials and Products Development in Nigeria will save the country this amount and yield immense benefits, ensuring irreversible indigenous industrialisation process.

    He said the measure will increase higher productivity and enhance value addition, pointing out that the strategy  will generate quality employment, alleviate poverty and  create prosperity.

    According to a statement  by the Head of Press and Public Relations, Ministry of Science and Technology, Andulganiyu Aminu,  Onu called for collective effort of the stakeholders with commitment through effective collaboration, cooperation and coordination of various complementary roles for the common goal of driving Nigeria to a higher ranking of global competiveness

    He said: “My expectation is for our regulatory establishments to apply appropriate conformity assessment measures in ensuring that specific technical requirement of products, services and systems meet intentional standard,” saying “it is important to ensure, at all times, that certification and accreditation are issued after due diligence, based on professional ethics and values.

    “This is why regulatory bodies all over world, help nations achieve global competiveness, especially, in building trust for world trade in merchandise and services.”

    He stressed the need for effective coordination of all regulatory bodies in Nigeria and ensure that balance is maintained between the needs of both business and the people.

    Meanwhile, the Federal Government is proposing a new National Research and Innovation Fund Bill that would provide financial support for innovation and research.

    Onu stated this while addressing  participants at the North- West  sensitization  programme  on  National Science , Technology and Innovation Road Map ( NSTIR)  and the Executive Order 5 held in Kaduna over the weekend.

    He said the administration is working tirelessly to ensure that Nigeria becomes a knowledge – based economy by the year 2030 in line with the provisions of the the federal government’s Economic Recovery and Growth Plan 2017 -2020 ( ERGP) .

    He said the Road Map was crafted with a view to attaining a long- time lifespan to take Nigeria to the Promised Land, adding that the Executive Order 5 would go a long way in promoting both local and foreign investment in the country as well as create employment, while also stimulating the economy.

    Onu said: “The Order will also guarantee home- grown capability and capacity to maintain, redesign, reinforce, domesticate and duplicate any infrastructure that is built in Nigeria for self – reliance and development. “

    He said with this development, Nigerian innovators and investors in the diaspora, will be encouraged to come home, stating that the era of brain drain was over.

     

  • Fed Govt launches exploration projects

    The Federal Government has launched exploration projects, Acting Minister of Mines and Steel Development Abubakar Bwari has said.

    Speaking yesterday in Abuja at the launch of the ministry’s integrated exploration projects, he said the programme was to attract foreign investment in mining sector, through provision of geoscience data.

    Bwari said the government, through the integrated exploration projects, had awarded contracts to local and foreign exploration companies and consultants, to address geoscience information deficit.

    “They are expected to explore and provide data on strategic mineral commodities the country is targeting, based on their effect on industries,” he said.

    The minister said Nigeria had not experienced commensurate development in the mining sector due to inadequate geoscience data.

    He said it was no secret that the country was endowed with mineral deposits.

    Bwari said: “It is no secret that Nigeria is richly endowed with minerals, including coal, iron ore, uranium, bitumen, gold, limestone, etc. However, despite these endowments, the nation has not seen a commensurate development of its mining sector, because of inadequate geoscience data.

    “This is responsible for the decline in the mining sector’s contribution to our Gross Domestic Product (GDP).

    “This administration is determined to reposition the mining sector by increasing its contribution to the GDP from a paltry 0.35% to 8.4% by 2020, which is the target set by the Economic Recovery and Growth Plan (ERGP).”

    Director-General Nigerian Geological Survey Agency (NGSA) Alex Nwegbu said the need to address the geoscience information deficit in the mining sector necessitated the development of an ambitious exploration programme.

    He said: “Strategic minerals were targeted based on their catalysing effect on industries. They include gold, pegmatite hosted minerals (cassiterite, tantalite, niobium, lithium), base metals, barytes, iron ore that cut across geological terrains-including the basement complex schist belt.”

     

     

     

  • Sagay: Fed Govt can invoke doctrine of necessity to fund 2019 election

    Presidential Advisory Committee Against Corruption (PACAC) Chairman Prof Itse Sagay (SAN) yesterday said the Federal Government could fund next year’s general election by invoking the doctrine of necessity should the National Assembly fail to pass the budget.

    According to him, the overriding necessity of elections and survival of democracy supersede the National Assembly’s powers where democracy is threatened.

    Sagay, in a statement, said while the power to approve the budget is only a single item in the Constitution, democracy and its processes, including elections, are what the Constitution are about.

    The statement reads: “The failure or refusal by the National Assembly to approve funds for the 2019 election will constitute a sabotage of our democracy, of which the Constitution is the embodiment.

    “If elections are not held, it will mean the collapse of our democracy, leading to chaos and anarchy. The question that arises is simple.

    “Which is more critical to democracy and the survival of Nigeria: Is it (1) the power of the National Assembly to approve budgets or (2) the survival of democracy and Nigeria itself?

    “If the survival of democracy is more important and fundamental to Nigeria’s existence, then failure to approve the budget for elections will trigger the doctrine of necessity, thus compelling the funding of election without the approval of the National Assembly.

    “It is simply a question of the survival of democracy and the continued existence of Nigeria. The power of approval of budget is just a single item in the whole of the Constitution.

    “On the contrary, elections and democracy which they support, constitute what the whole Constitution is about.

    “Therefore, the overriding necessity and imperative of elections and democracy simply override the power of National Assembly.

    “If the National Assembly refuses or fails to approve the budget for election, the doctrine of necessity will validate the provision of the funds without the National Assembly’s approval.”

    The National Assembly Joint Committee on the Independent National Electoral Commission (INEC) will o reconvene on August 27 to conclude work on the 2019 INEC budget submitted to it by President Muhammadu Buhari.

    Co-Chairman of the Joint Committee, Senator Suleiman Nazif, had said in a statement: “Sequel to the ongoing consideration of the INEC 2019 General Election Budget by the joint committees of the Senate and House of Representatives, the general public is hereby informed that work on the budget is in advanced stage and in line with the mandate issued to the joint committee by the leadership of the National Assembly.

    “Equally, the joint committee deliberated on all key attributes of the budget while taking into cognisance the imperative urgency for the budget to be ready in time for the 2019 general election hence, necessitating sacrifice and selflessness from our distinguished and honourable members.

    “Furthermore, it is imperative to state here explicitly that, after an audacious session with all critical stakeholders, the joint committee dissolved into executive structure and agreed to resume on 27th of August, 2018, (after Sallah) to consider the harmonised version of the budget report diligently.

    “Moreso, the report of the joint committee will be made available for further and appropriate legislative action in earnest.”

  • Fed Govt: our target is completion of projects

    The Minister of Power, Works and Housing, Mr. Babatunde Fashola has said the Federal Government’s focus is  to complete road, power and housing projects.

    Spaeking at an interactive session with 10 social clubs at the Lagos City Hall, Fashola emphasised that the completion of some road projects has led to the construction economy bouncing back and  promoting growth of businesses.

    He explained that in the 2015 budget, N19 billion was earmarked for road projects out of which only N9 billion was released leaving a huge deficient that made several contractors to abandon site.

    Fashola said the trend coupled with huge debts owed contractors, affected businesses, which in turn, impacted the economy negatively. “And because of dwindling oil revenue, we had to do more with less money,” he said.

    The Minister explained that the government decided to prioritise the roads for repairs based on six main categories. These include roads that carried heaviest vehicles; those that led to the ports; roads critical to agriculture; and those that required counterpart funding and the Sukuk bonds. “There is no state where we are not constructing one road or the other,” he said.

    On housing delivery, the minister said the Buhari regime was also completing housing projects started by previous administrations. This, he explained, is because only completed projects were useful to Nigerians. He urged Nigerians to speak up in favour of the good gesture to complete projects.

    The minister said apart from the Alhaji Shehu Shagari administration, this was the second time the Federal Government was embarking on mass housing initiatives across the country.

    He said there was need to get the product formulation, packaging and delivery right, adding that there were several unoccupied buildings across the country either because they were not affordable or did not meet the taste of consumers. He said pilot schemes were still on-going for new housing projects as there were no empirical evidence of what kind of homes people could afford or their taste preferences.

    “If you don’t sample correctly, the product would fail. When we say we are planning, people think we are joking,” the minister said.

    He said the government through the Federal Mortgage Bank, was removing impediments to access to loans and was at the same time expanding the scope to capture more beneficiaries. “Clearly, it is getting better. Let us honestly admit,” he said.