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Tag: Federal government

  • Aviation, tourism can aid Nigeria’s exit from recession – Expert

    The Federal Government has been urged to focus on the aviation and tourism sectors as the country grapples with economic recession.

    Mr Gbenga Olowo, President, Aviation Round Table (ART),told journalists in Lagos on Tuesday that combining both sectors could help to accelerate Nigeria’s exit from recession.

    According to him, aviation has had its fair share of the dwindling economic situation in 2016, and a lot needs to be done to maximise its potential.

    “Like every sector of the economy, things have not been good in terms of economic performance.

    “Load factor has gone down, fewer passengers now travel and of course, we have less air cargo.

    “We are a consumer nation and cargo wants to come in but there is no money to buy it.

    “So the aviation industry has its own fair share of the recession, Olowo said.

    He said Nigeria must make good use of its available resources to diversify its economy.

    “I believe combining tourism and aviation will make money for us as a nation faster than any other sector with very little input.

    “For instance, most of our states have beautiful bridges and roads, they have functional street lights and traffic lights, and our policemen are getting more civilised.

    “These indices are in place and they are good enough for tourism,” Olowo said.

    He said all that was needed was to re-orientate the Nigerian people and the media to highlight the positive factors that the country had.

    “We must be more receptive to visitors to the country, and it should be right from the airport by our security agencies.

    “We must begin to package Nigeria as a tourist location. Our food is good, our hotels are nice, and our people are warm.

    “As a nation, in addition to agriculture and all the efforts the government is making, we must drive tourism, and aviation is the number one linkage.

    “Aviation is key and we should try and complete Bi-lateral Air Service Agreements with countries we don’t have with and encourage our airlines to put flights to those places and link us with them,” Olowo said.

  • FG advised to support efforts to end HIV/AIDS

    FG advised to support efforts to end HIV/AIDS

    The Federal Government has been advised to support efforts of other nations to evolve a development of new diagnostics to end HIV/AIDS.

    The immediate past Director General of National Agency for the Control of AIDS (NACA), Prof. John Idoko, at the 7th Prof. Adetokunbo Lucas Public Health Leadership Forum Guest Lecture organised by the Institute of Public Health, Obafemi Awolowo University, Ile-Ife, said it was necessary for the Federal Government to be part of the research to eradicate the deadly disease.

    According to him, there was a development of new diagnostics including early post-exposure infection, vaccines, prevention approaches for young women, and slow release of anti-retro cubital drugs in order to end the spread of HIV/AIDS.

    Idoko, who disclosed that Nigeria has made an appreciable effort at reducing HIV/AIDS prevalence, from six per cent to three per cent, said that study has shown that HIV is prevalent among men having sex with men.

    However, Idoko further disclosed that the spread of the deadly disease was declining in other populations, especially among the sex workers.

    He added that criminalization of sex workers and men having sex with men has compounded their exposure to early treatment.

    Idoko maintained that eradicating HIV/AIDS in Nigeria would depend on learning from successes and failures of the past.

    In his opening remarks, the acting Vice- Chancellor, Obafemi Awolowo University, Prof. Anthony Elujoba, called for using religion as a tool for preventing HIV/AIDS.

    He stressed that drug alone cannot cure diseases.

    In their goodwill messages, the Chairman Board of Directors and also Chief Executive Officer of AIDS Prevention Initiative in Nigeria (APINS), Dr. Oluwole Odutolu and Dr Prosper Okonkwo, respectively praised Prof. Lucas Adetokunbo, who he described as a quitensentia and a man, who has left an indelible mark in the field of medicine in Nigeria and beyond.

    They also described the 85 years old Professor of International Health at the Harvard School of Public Health, as an accomplished person and a force to be reckoned with in the field of Medicine in Nigeria and beyond.

     

  • Mining, viable revenue earner if given attention – Dan-China

    The Federal Government has been urged to give the mining industry its desired attention, as it had the capacity to turn around the economy of Nigeria.

    This plea was made by a Jos-based miner, Alhaji Abdullahi Adamu,popularly known as `Dan-China’  on Friday, in an interview with newsmen.

    “We are only killing ourselves by relying on oil; what a kilo of Tin gives in terms of Naira and Kobo is more than the cost of two barrel of oil in the international market.

    “In fact, if the government, in its diversification plans, turns its attention to the mining sector, what it can generate as revenue in a day, oil can not give that to them in 10 days, ’’ the miner said.

    Dan-China advised that Iron ore alone was enough to turn around the economy of the country, regardless of  other viable and costly minerals the nation possessed.

    He cited countries like Indonesia and Sweden which mainly depended on Iron ore as the main stay of their economies.

    Adamu, a one-time Bauchi State gubernatorial aspirant, called on the Federal  Government to checkmate the activities of illegal miners and those who have no business delving into the venture.

    “We have saboteurs in the mining sector, which calls for the government to do something about them to allow the sector to thrive well for the good of our economy, ’’ he said.

    According to him, the Federal Government should formulate good policies and programmes that could stimulate and develop the mining sector.

    He decried the absence of good Geo-Scientists in the country, who could help in developing and transforming the mining sector.

    The miner decried a situation whereby foreigners bribed their ways into the country, only to milk the nation dry, especially at the mining sector.

    He also called for synergy among practical miners in the country to help the government in developing the sector, to turn around the national economy in the heat of global recession.

  • Reps urge FG to revive textile industries

    The House of Representatives, Thursday called on the Federal Government to immediately ensure the revival of the textile industries in Kaduna and Kano States

    The call was sequel to a motion brought under matters of urgent national importance by Hon. Sunday Katung (PDP-Kaduna), which was adopted by the House.

    Katung while moving the motion, said  KadunaTextile limited which is one of the oldest mills in the country and was established in 1957 was shut down in 2002 with its over 7,000 employees laid off.

    The lawmaker expressed concern that there were local textile companies trying to keep up with various designs and fabrics in the Nigerian market.

    According to him, there was still a wide gap that needed to be filled in the industry, saying “it is undeniable that the lost glory is yet to be restored.

    He further said: “It is hard to believe that the Nigerian textile industry once occupied an enviable spot of being the third largest in Africa.

    “The industry also generated as much as 2 billion dollars annually with a capacity of producing over 1.4 billion pieces of textile product.”

    Hon.  Abubakar Amuda-Kannike (APC-Kwara) while supporting the motion said that Chinese Companies should be encouraged to invest in the Nigerian textile industry.

    “We need foreign companies to come into Nigeria and help our textile industry to improve foreign earnings,” he said.

    Another member, Tahir Monguno (APC-Borno), said that one of the major source of income for the country was the textile industries and its revival would do the country a lot of good.

  • Harness potentials in creative industry – British Council

    Harness potentials in creative industry – British Council

    The Federal Government has been urged to develop systems that will formalise businesses and harness potential in the creative industry to boost the nation’s economy.

    This statement was made by Ojoma Ochai, The Director of Arts, British Council during an interview with the Journalists on Wednesday in Abuja.

    According to her, so many businesses existed in the country but were under the informal sector including the creative arts industry.

    “The issue of the informality of the creative industry is not peculiar to the creative economy.

    “It is a macro Nigerian problem, so I think that once Nigeria as a country starts to develop the system to formalise businesses you will start to see the solution.

    “In that way, the potential in the informal sector will be harnessed and the government can as well generate revenue through such mediums,” she said.

    The director also said that the government could create incentives to encourage people to formalise their businesses.

    She noted that the creative industry in the UK was not originally formal, but the government supported the system,“Another way is to incentivise this formalisation.

    “In the UK, by creating mechanisms through which government support the creative industries, you are creating incentives for people to formalise their businesses.

    Ochai said the creative economy had always existed from times past, but the difference with the modern trend was accrediting artworks to the intelligence of the human mind and converting it to wealth.

    She observed that practitioners in the creative industry had already demonstrated their potential, adding that the film industry without major input from government developed to what it was.

    According to her, more potential exists in the film industry, but the challenge is harnessing the potential to economically empower artists.

    Ochai, however, said that the Federal Government was making commitments to restructure the creative industry in collaboration with the British Council.

    “I think that there is a commitment that it is going to happen.

    “While the British Council is contributing its quota to what ultimately, the Federal Government is looking to start to build the structures that will support people to turn their talent to profit,” Ochai said.

  • FG targets 10,000 ex-militants for agric training 

    The Federal Government of Nigeria is to enroll 10,000 ex-militants in the Niger Delta to be trained in farming under its agricultural initiative at a bio-resource centre in Udi, Bayelsa State.

    Special Adviser to the President on Niger Delta and Coordinator of the Presidential Amnesty Programme, Brig.-Gen. ‎Paul Boroh (retd.), stated this Tuesday at Uvwie, Ikpoba-Okha local government after inspecting a fish farm established as an empowerment tool for an ex-militant, Ruben Bibowe Opuobori,

    Brig-Gen Boroh said the project was part of ways to ensure a sustainable re-integration of ex-agitators with a view to resolving the conflict in the region.

    Boroh stated that President Muhammadu Buhari is commitment towards peace in the Niger Delta region by focusing on agriculture because it is the best alternative for the

    economy of the nation at the moment.

    He said those engaging in pipeline vandalism in the region were ignorant” of government’s efforts towards having a peaceful nation and vibrant economy.

    Boroh said, “The drive we are into now is on agriculture because agriculture captures three major items in life. Agriculture ensures that food is secured within the environment.

    “There will be job opportunities for those who have agriculture on their mind as well as increment in their financial position because they will be able to sell their farm products and make some money.”

    “That is why I am very happy to be here today, after deploring ex-agitators at the bio-resource centre in Odi, Bayelsa State.”

    “I want 10,000 of them to benefit from this project. Edo State is capturing 100. We will take it up all the way, across the entire Niger Delta; every state will benefit one way or the other.

    “Those people involved in pipeline vandalism are not beneficiaries of the programme. They are ignorant of what the Federal Government is doing.”

    Bibowei said the programme has given him a sense of direction and made him self-reliant.

    He said, “The project has done so much for me. It brought me out from the creeks and it has given me a direction. I advise them (militants) to come out and work with the Federal Government.

    Bibowe was provided with borehole, water tank, generator and a pond containing three compartments with one already stock with 1000 fingerlis.

  • FG to begin processing cassava leaves as livestock feeds

    FG to begin processing cassava leaves as livestock feeds

    The Federal Government has commenced strategies to develop cassava leaves value chain into livestock feeds to curb farmers-herdsmen clashes in the country.

    Chief Audu Ogbeh, the Minister of Agriculture and Rural Development, said this at a seminar on `Unlocking the Potentials of Cassava Leaves as Livestock feed in Nigeria’ in Abuja on Thursday.

    He said the seminar, organised by the Agricultural and Rural Management Training Institute (ARMTI), was a wake-up call for stakeholders to deliberate on harnessing the potentials of cassava leaves.

    Represented by Dr Egejuru Eze, Director, Animal Production and Husbandry Services in the ministry, Ogbeh said that the livestock industry had been bedevilled by stagnant practices hence, the clashes.

    The minister said that livestock had the potential for increased productivity, including milk yield and body weight, when fed with cassava leaves.

    According to him, cassava leaves has been found to be a good source of crude protein when made into silage.

    Ogbeh said that the cassava leaves value chain would also create jobs for youths and enable farmers make more money from the sale of the leaves.

    “Nigeria is the largest producer of cassava in the world with a production figure of 50 million metric tonnes.

    “Cassava is a major food crop in Nigeria.

    “It is strategically valued for its role in food security, poverty alleviation and a source of raw materials for agro-allied industries in Nigeria with huge potential for export market.
    “It provides livelihood for over 30 million farmers,’’ the minister said.

    Dr Olufemi Oladunni, Acting Executive Director of ARMTI, said the institute’s mission was to identify problems and develop appropriate interventions to improve managerial practice in the agricultural sector.

    “ We gather policy makers, academics, practitioners and other stakeholders to facilitate a constructive discussion on policy development to tackle pertinent issues in agriculture.

    “ The incessant farmers and herdsmen clashes, the grossly below optimum yield in livestock production and constant price hikes and scarcity of livestock products need speedy action.

    “If we tackle agriculture challenges with effectiveness and efficiency in our practice, the scarcity of food, inflation, poverty, unemployment of youths will be minimal,’’ he said.

    In a lecture, Prof. Dolapo Lufadeju, an agriculture development consultant, said Nigeria is the world’s largest producer of cassava, producing 50 million metric tonnes annually and providing livelihood to millions.

    Lufadeju said that the initiative of cassava leaves to feed livestock would encourage men and women and create employment for the youth.

    “Cassava is a major staple crop that can be used to promote rural industrialisation, starch, adhesive, exotic food, condiments and proven export foreign exchange earners.

    “It can be successfully grown in marginal soil, hardiness and tolerance to adverse conditions,’’ he said.

    He added that the world cassava production was about 165 million metric tonnes per annum and about 50 per cent was produced by Nigeria, Brazil, Thailand and Zaire.

  • Recession: CBN advises FG to settle domestic debts 

    Recession: CBN advises FG to settle domestic debts 

    …Retains Monetary policy indices 

     

    After resolving to retain all key monetary policy indices, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has urged the federal government to settle its domestic debts.

    Addressing journalists at the end of the meeting in Abuja Tuesday, the CBN governor Mr. Godwin Emefiele called on the federal government “to urgently assess the extent of its indebtedness to domestic economic agents and develop a framework for securitizing the debts in order to settle its outstanding domestic contractual obligations which cuts across all sectors of the economy.”

    These accumulated debts he said “have slowed business activities of economic agents; most of who are indebted to the banking system, thus compromising the integrity of the financial system.”

    Members of the MPC also advised the CBN “to commit to greater surveillance and deployment of early warning systems in managing the banking system.”

    Before arriving at the decision to retain interest rate and corresponding indices, Emefiele stated that “available data and forecasts of key economic variables indicate that the outlook for growth and inflation in the medium term continues to be challenging. Growth is expected to remain less robust given the absence of sufficient fiscal space while the current tight stance of monetary policy and improved agricultural harvests are expected to contain further price increases and moderate price expectations.”

    The Committee he said assessed the relevant risks to the global and domestic economy and “concluded that the risks to the economy remained highly elevated on two fronts (price and output).”

    However, considering the importance of price stability, and being mindful of the limitations of monetary policy in influencing output and employment under conditions of stagflation, the Committee he said “decided unanimously in favour of retaining the current stance of monetary policy, thus keeping the MPR at 14.0 per cent alongside all other policy parameters which include  retaining  the  Cash Reserve Ratio (CRR) at 22.5 per cent; retaining the Liquidity Ratio at 30.00 per cent; and retaining the Asymmetric Window at +200 and -500 basis points around the MPR.

    Asked to comment on the allegations that the CBN was planning to jail holders of foreign currency and confiscating the currencies, Emefiele said those allegations are untrue.

    According to him, “there is nothing in our forex regulations that says that people will be jailed or that their dollars will be confiscated. But am aware, just today, that the Nigerian Law Reform Commission is looking at reviewing the exchange regulations just like they normally will from time to time.”

    The Law Reform Commission he said is an agency of government “that has responsibilities for reviewing all laws in the country from time to time depending on the exigencies of the time. We have not been contacted regarding whether or not some of the clauses that are involved will be reviewed, but am saying here categorically that if we are contacted or whenever it becomes an issue for discussion, we will suggest and advise against the clause that forbids people from keeping their dollars if they choose to or a law that says that people should be jailed for keeping foreign currency.”

    On the deployment of security agencies to suspected currency black market locations, the CBN governor stated that “the forex regulation in Nigeria today forbids trafficking in currency on the streets. The security agencies have a right to enforce the laws and as the law says you cannot traffic currency o  the streets, you’re supposed to be in your office conducting your business. You will have to adhere to that and if you don’t adhere to that, the security agencies will arrest you. Whether it would drive black marketers underground, they are illegal, we don’t consider people who want to go underground to conduct illegitimate businesses.”

    At the meeting earlier, Emefiele said “the MPC believes that the Security agencies should sustain their checks on the activities of illegal foreign exchange operators in order to bring sanity to that segment of the market. The Committee reiterated that the extant foreign exchange regulation outlaws the trafficking of currency on the streets as some unlicensed operators currently do. Thus, to evolve an appropriate naira exchange rate that stabilizes the foreign exchange market, BDC operators must strictly observe the terms and conditions of their license.”

    Emefiele also responded to enquiries of a possible reduction in the number of Bureau De Changes (BDCs) saying that “we believe that everybody is entitled ones regulations are set, we don’t need to preclude anybody who meets the conditions, but of course naturally the regulator has a right to put in place policies that limit entry. If we want to limit entry, we know what to do and I can assure you that we will do it at any point we decide to limit entry or even exacerbate exit from the market, that’s something we would look at at the appropriate time.”

    The CBN governor was asked to speaking to the level of risk Nigerian banks were in currently and he said that “as a result of current challenges being faced by the global economy, all agents in the financial system including banks and other players are facing tremendous risks.”

    He added that “normally in any economy where there is a slowdown and recession naturally financial institutions particularly banks will face certain risks risks of NPL rising and different other risks, what that does is that it imposes on the regulators a great challenge to ensure that it strengthens its prudential guidelines to ensure that the banks and particularly depositors are protected.”

    Nigerian banks like other banks in other climes he said “are facing risks but those risks are surmountable and the CBN is doing its best to ensure that those risks don’t crystallize to a point where we begin to talk about depositors risking their deposits, so for that reason, the risks is overtly elevated. These are risks being faced by any banking system or any financial system in any clime today arising from the global challenges.”

    On efforts to stimulate the economy, Emefiele said “the CBN has from time to time played its role in putting in place measures that are meant to intervene and stimulate the economy. The CBN is involved in various types of interventions in line with the enabling act that asked it to conduct development finance activities to channel funds at low interest rates to benefit the economy and people.”

  • FG begins exploration of non-oil minerals in Bayelsa

    FG begins exploration of non-oil minerals in Bayelsa

    The Federal Government has commenced a programme to identify and explore other mineral resources besides crude oil in Bayelsa State as part of its policy of diversifying the economy.

    A team from the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) was in the state, Friday, to assess and evaluate the availability of non-oil minerals and reach agreements with the state government for their development.

    The RMAFC’Team on Nationwide Monitoring Exercise on Royalties led by a Director in the commission, Chief Sanyon Omiri, met with the Deputy Governor of the state, Rear Admiral John Jonah (retd) to discuss modalities for the exploration.

    Omiri noted that since the beginning of the economic recession, the non-oil sector accounted for 50 per cent of the monthly revenue accruing to the federation account.

    He said following the implementation of the diversification policy the sector would contribute more in the nearest future.

    He lamented that Bayelsa got paltry sum of N1.2million as its share of 13 per cent derivation from the non-oil sector.

    “Bayelsa currently occupies the 36th position on the table of non-oil remittance to the Federation Account, base on June allocations”, he said.

    According to him the state could move up to an appreciable position and increase its share of the 13% derivation from non-oil revenue, if all leakages were blocked with illegal miners captured into the tax net.

    He said that the team would verify and ascertain all the mining companies, number and duration of mining leases issued to each operator, and determine means of increasing revenue generation from mining and solid mineral exploration.

    He said: “We are highly endowed with many untapped mineral resources especially Bayelsa. But with this our exercise, I can assure you that we will put things in the right direction.

    “Bayelsa is endowed with good sand, clay and many other resources. With this our verification, many minerals will be determined”.

    In his remarks, Jonah who said the government was excited at the ongoing verification described it as a step in the right direction.

    He asked the team do a thorough job, noting that if properly conducted, the exercise would provide a viable alternative source of revenue to the state.

    He said that every state is endowed with mineral resources, adding that the current economic recession was biting harder because of long period of overdependence on revenues accruing from the oil sector.

    He said there had been lack of political will to explore and exploit other natural endowments, including agriculture to boost the nation’s economy.

    Assuring the team of the government’s support, Jonah urged its members to engage the appropriate government ministries, agencies, departments and other stakeholders in the exercise.

    He said: “Yes, it is true that Bayelsa State isn’t doing well in the non-oil sector. So they (RMAFC) are going to carry out an audit of what we have because some of the non-oil mineral resources they have in mind may be here and we may not be aware.

    At the federal level, the government is trying to get a consultant to work it out for the entire country.

    “I’m firmly of the belief that there is no land in Nigeria that has no minerals. It depends on how you maximise the exploitation of it. So, at the end of this exercise, this the team will tell us what we have and how we can get it out from the soil.

    “Just like the Federal Government, we also have interest in taxes. We have common interest, so we will certainly benefit from the exercise. But the extent of benefit is what I will not be able to define now”.

    Also, the Commissioner for Information, Mr. Jonathan Obuebite, said if the team carried out their plans, it oils signal the seriousness of the Federal Government on diversification.

    He said developing other non-oil sectors would further create employment and reduce the problems of joblessness in the country.

    He said: “We are happy because the mission is to come and see the mineral resources we have in Bayelsa that can be explored to increase our revenue and contribute to national revenue.

    “If that is done it means that Nigeria is serious now to move out of total dependence on oil. We have the oil, but just like every other nations, but we should have alternative sources of revenue.

    “This, I think if properly done will lead to us having if possible 60 per cent of resources from other sources to boost our economy and grow the system. Whenever a new mineral is discovered, employment is generated too. It will also address the case of unemployment”.

     

  • Senate wades into crisis between ASUU, FG

    Senate wades into crisis between ASUU, FG

    Sen. Jibril Barau (APC-Kano), says the Senate has intervened in the crisis between the Federal Government and Academic Staff Union of Universities (ASUU).

    Barau made this known when he was briefing Senate correspondents after a closed door meeting with leadership of ASUU, Minister of State for Education and other stakeholders in Abuja on Wednesday.

    “After the deliberation, we set up a sub-committee that will meet with the Minister of Finance and the Minister of Budget and Planning to resolve the issues,” Barau said.

    The Senator, who is the chairman of the sub-committee, assured Nigerians that the parties involved had found a way forward as there was determination to get the issues resolved.

    Also, Sen. Mao Ohuabunwa (PDP-Abia), acting Chairman, Senate Committee on Labour said they had resolved to “nip the issue in the bud”.

    “With the attention of the minister of finance and that of budget and planning, by Monday next week, we should resolve amicably and the warning strike will come to an end,” Ohuabunwa said.

    Minister of State for Education, Prof. Tony Anwuka said that the initiative was commendable and was geared toward finding a lasting solution to the crisis.

    “We should be able to find pleasant resolutions,” Anwuka said.

    On his part, ASUU President, Biodun Ogunyemi thanked the Senate for intervening in the matter.

    The News Agency of Nigeria (NAN) recalls that ASUU, earlier on Wednesday, embarked on a one-week warning strike.