The Nation Newspaper

Tag: FG

  • FG organises summit to sign transaction agreements in power sector

    FG organises summit to sign transaction agreements in power sector

    The Federal Government’s power sector divestment programme will climax on Monday (April 22) when it signs agreements with local and international investors.

    The transaction signing arrangements will be between Federal Government on the one side; private investors already in business and prospective ones, international and local financial institutions on the other.

    This is contained in a statement issued by Mr Timothy Oyedeji, Deputy Director/Head of Press in the Ministry of Power, made available to the News Agency of Nigeria (NAN) in Abuja on Friday.

    It said in order to put a new lease of life into the ongoing power sector divestment programme of the Federal Government, arrangements had been concluded to organise Transaction Signing Summit.

    “Accordingly, the Ministry of Power and the Presidential Task Force on Power (PTFP) issued a statement saying that the event is a significant milestone in the Power Sector Privatisation Programme.

    “Various power sector transactions covering gas, generation, transmission, distribution and privatisation will be signed at the event.

    “It is believed that this assignment will reinforce public confidence in the programme.

  • Boko Haram: Youth group gives FG condition for reconciliation

    Nigerian Youth on Tuesday told the Federal Government to be more proactive on security issues just as they responded to the cases of flooding in the country.

    They said the present reconciliation moves being proposed to tame the Boko Haram sect can only succeed if certain precautions are taken into consideration.

    The Youth Wing of the Christian Association of Nigeria, YOWICAN, who made this known in Abuja through their National President, Dr. Simon Dolly, said, “We want the Federal Government to be proactive on the security crisis just the way they treated flooding issues.

    “The victims of the crisis should be compensated before reconciliation. They have to be attended to first before proposing reconciliation and absence of it will show high level of injustice. We all want peace, we need dialogue”, he said.

    Dolly, who attributed the lingering crisis in country to lack of forgiveness on the part of Christians, called on Christians to have the heart of forgiveness, tolerate one another and avoid the politics of killing.

     

  • FG, states share N731.13bn

    …transfer N95.24bn to Excess Crude Account

    After a tense Federation Account Allocation Committee (FAAC) meeting in Abuja, the three tiers of government put aside their differences and agreed to share N731.13 billion for the month of March.

    The absence of the Minister of State for Finance, who is also the chairman of the FAAC, had got the state commissioners of finance angry and slighted.

    Having left the venue of the meeting angrily last Thursday, it was another long waiting game that ran eventually into the night before it was agreed that the sum of N731.13 billion be shared among the three tiers of government for the month of March.

    This amount represents an increase of N1.49 billion over the N729.64 billion shared by the committee in February 2013.

    However, this figure of N731.13 was lower than the budgeted benchmark for the month of N745.71 billion for the month resulting in a negative variance of N14.57 billion.

    A breakdown of the distribution shows that N496.41 billion was shared under statutory allocation, N61.63 billion from Value Added Tax distribution and N35.549 billion under the Subsidy Reinvestment and Empowerment Programme.

    Also shared was the N7.61 billion part payment of the debt owed the Federation Account by the Nigerian National Petroleum Corporation (NNPC).

    As is the practice when sharing the statutory allocation of N496.41 billion, the Federal Government got N232.53 billion representing 52.68 per cent, state governments got N117.92 billion or 26.72 per cent while the 774 local government councils went home with N90.93 billion or 20.60 per cent.

    The nine oil- producing states got N55 billion based on the 13 per cent derivation principle.

    But in sharing the N61.63 billion VAT allocation, the Federal Government got N9.24 billion or 15 per cent; states N30.82 billion or 50 per cent while the Local Government Authorities got the balance of N21.57bn or 35 per cent.

    Also at the meeting, FAAC transferred the sum of N95.24 billion into the Excess Crude Account (ECA) thus swelling the balance in the ECA to $7 billion.

    Addressing journalists after the eventful four- hour meeting, the Minister of State for Finance, Dr Yerima Lawan Ngama, said the gross revenue for the month of March was N595.71 billion made up of proceeds from mineral and non mineral revenue of N518.38 billion and N77.32 billion respectively.

    By this development, the gross revenue received for March 2013, he said, was N24.02 billion higher than the N571.67 billion realised in the month of February.

    Ngama attributed the increase in revenue to receipt of arrears of crude oil and gas sales.

    He stated: “Crude oil production and lifting operations, however, decreased during the period due to force majeure declared at Qua Iboe and Brass Terminals and maintenance work at Okono, Brass and Amenam terminals.”

  • Expert tasks FG on credible database to track

    Expert tasks FG on credible database to track

    Mr Chuckwuemeka Eze, Chairman, Publicity Committee of West African Union of Tax Institutes, has urged the Federal Government to develop internal capacity to have an accurate database of taxpayers.

    Eze told the News Agency of Nigeria (NAN) in Lagos that credible database of taxpayers would help the government to monitor and track tax evaders.

    He said that some Nigerians were not paying taxes and were difficult to track.

    “Some Nigerians have the habit of evading taxes and some do give wrong information about their businesses.

    “With accurate database, it will be difficult for them to evade tax payment,” he said.

    Eze said that lack of accurate database of taxpayers had been a major challenge to the nation’s tax system.

    Eze, a former chairman of Ikeja branch of the Chartered Institutes of Taxation of Nigeria, said that good records of taxpayers would make the system more vibrant.

    He said that the situation was not peculiar to taxation alone, stressing that “it is a general problem in all the sectors of the economy’’.

    “Generally, Nigeria do not have credible database. It is not peculiar to taxation alone,” he said.

    Eze said that this situation was not good for the growth of any economy.

    He said that the biometrics system adopted by the government to capture eligible workers in the public sector was a right step to address the database challenges.

  • FG upgrades park service to paramilitary status

    The Federal Government (FG) has upgraded the National Park Service to a Para-Military Organisation.

    The approval will take effect from 14th January, 2014.

    A statement yesterday by a Deputy Director from the Federal Ministry of Environment, Press and Public Relations, Lawrence Ojabor, in Abuja, stated the approval will enable the organisation perform its function effectively.

    It stated that the approval was in line with the NPS Amendment Act of 2006.

    The statement reads in part: “The President, Commander-in-Chief of the Armed forces, Federal Republic of Nigeria, Dr Goodluck Ebele Jonathan (GCFR), has approved the classification of the National Park Service as a Para-Military organisation, with effect from January 2014.

    “The approval of the Para-Military status is consistent with the National Park Service Amendment Act 2006 and will enable the organisation to cope with the daunting task of park protection and conservation.

    “The National Park Service currently operates seven national parks across the country. The parks cover a total land area of 24, 000 square kilometers.

    “The staff trek long distances on rugged terrains and weather conditions to protect the fauna and flora domicile in the parks and in the process risk attacks by both marauding wild animals and poachers.

    “The NPS has responsibility for surveillance, patrolling, checking illegal activities of poachers in the parks.

    “It is also charged with the enforcement of relevant international treaties and conventions to which the country is a signatory.

    “NPS has the duty of searching, arresting and prosecuting offenders, public enlightenment on the protection and conservation of plants animals, and assisting researchers etc.”

     

  • FG committed to religious freedom – Jonathan

    President Goodluck Jonathan on Friday in Sokoto said the Federal Government is committed to fast tracking and ensuring freedom of religion among Nigerians.

    He also assured of a more responsive and acceptable path that would ensure peaceful coexistence among the citizenry, noting that the unity of the country was paramount for its development.

    The President, who in recent times had been making frantic calls for the unity of the country spoke while declaring open a two-day international conference on : ‘’ Islam and the Fundamentals of peaceful coexistence in Nigeria.’’

    Represented by his deputy, Arch.Namadi Sambo, the president noted with concern the numerous cases of religious violence in the country, cautioning that,’’ religion should not be used to justify violence.’’

    The conference was organized by the Sokoto State government in conjuction with the Muslim World League, Makkah, Saudi Arabia.

    Jonathan, awakened the reasoning of Nigerians on religious belief while saying that ‘’ we should not use faith to cause havoc,” stressing that sectarian differences should not be allowed to thrive in the country’s quest for unity and peaceful coexistence.

    He noted that Inter-religious dialogue is an important tool in building and shaping the strength and unity of the society.

     

  • Kano blasts: NLC urges FG to tackle insurgency

    Kano blasts: NLC urges FG to tackle insurgency

    Following the bombing and killing of passengers at a Kano motor park on Monday, the Nigeria Labour Congress on Thursday called on the Federal Government to do all that is legally necessary to bring an end to insurgency in the country.

    In a statement titled: “Not even this act will break us,” and signed by its Acting President, Comrade Promise Adewusi, the congress, described the incident as a shameful and coward act incapable of advancing any cause except evil.

    He said: “In furtherance of the above, we wish to invite the government to as a matter of urgency do all that is necessary and explore all legitimate avenues to bring to an end this insurgency. We dare say this includes addressing the remote and immediate causes of this phenomenon, re- equipping our intelligence and security forces to be proactive and also be able to cope with new challenges.”

    NLC said the choice of target in the latest barbaric act is intended to raise primordial sentiments but Nigerians should see it for what it is, “a desperate act by desperate people to weaken the bonds that hold the nation together. “

    He submitted that “we will overcome them if we refuse to fall for their ploy, by not carrying reprisal attacks.”

    Adewusi noted that the congress reaffirmed its faith in an indivisible and in alienable Nigeria where all can co-exist.

    He added that “the citizens should therefore further re-iterate their readiness to meditate in bringing this needless fury to an end.

    “Finally we wish to extend our deep condolences to the victims and families of this unfortunate carnage. May God grant the dead peaceful repose and the wounded, speedy recovery,” the congress said.

     

  • FG to formulate salary policy in public service

    FG to formulate salary policy in public service

    The Federal Government on Tuesday in Abuja said it would formulate a pay policy to guide payment of remunerations in the public service.

    The Secretary to the Government of the Federation (SGF), Chief Anyim Pius Anyim, made the announcement at the opening of a workshop on Pay Policy, organised by the National Salaries, Incomes and Wages Commission (NSIWC).

    Ayim, represented by the Permanent Secretary, General Services Office, Mr. Charles Bonat, said that such a policy should moderate the growth of the wage bill.

    He said it would also encourage and reward productivity, engender equity and recognise ability to pay while paying attention to the cost of living.

    “Indeed, a pay policy that has these attributes will certainly lead to a positive transformation of the public service.

    “The time is auspicious for it and this country has the capacity to produce a pay policy that other nations can refer to,’’ the News Agency of Nigeria quoted the SGF as saying at the workshop.

    He commended the NSIWC for organising the workshop as part of its contributions to the transformation agenda of the present administration.

    Anyim urged the workshop participants to deliberate extensively and come out with a practicable document that would enhance salary administration in the public service.

     

  • FG inaugurates bilateral agreement on education

    FG inaugurates bilateral agreement on education

    The Federal Ministry of Education on Monday in Ilorin inaugurated a Bilateral Education Agreement (BEA) scholarship programme for the 2013/2014 session, the News Agency of Nigeria reports.

    The Minister of Education, Prof. Ruqayyat Rufai in a speech, said that selected students from six states in the North central zones including the FCT would be interviewed for the programme.

    She said that the sholarship programme was as a result of the partnership the country had with its international agencies on education exchange programme.

    The minister, who was represented by an Assistant Director in the ministry, Mr. Emmanuel Wakawa, also said the programme was tenable with countries such as Russia, China and Ukraine, among others.

    Speaking earlier, Governor Abdulfatah Ahmed of Kwara State, said he was happy that the state was hosting the programme.

    Ahmed, who was represented by the Commissioner for Tertiary Education, Alhaji Aliyu Lade, said the programme would make it possible for students in the state to benefit from the programme “as the centre is brought closer.’’

    While exhorting the candidates, the Chairman Kwara, Scholarship Board, Alhaji Isiaka Mogaji, called for a review of the selection process.

    He said that there should be participatory exercise with state secretaries for education for successful programme.

     

  • FG to address domestic debt this year -Minister

    FG to address domestic debt this year -Minister

    The Federal Government will take action this year to slash its domestic debt from around 6.35 trillion naira ($40 billion) because double-digit interest rates make the cost of servicing it too high, the Minister of State for Finance said on Monday.

    It cost 699 billion naira to service the debt last year, Yerima Lawan Ngama said, addressing delegates at a business conference in Lagos. Interest rates on sovereign debt are around 10-11 percent.

    “The cost of domestic debt is still very high. We are discussing with the bankers’ committee the high cost of interest rates,” he said.

    He said the government had set up a fund starting at 100 billion naira that would begin retiring domestic debt from this year.

    The overall debt to Gross Domestic Product ratio was 18.2 percent at the end of 2012, he said, up from 16 percent a year earlier.

    Reuters says Nigeria’s economy is growing as an investment destination as fiscal stability improves, its currency stabilises and economic growth remains high. But investors are wary of a long-established tendency to mismanage oil revenues, mostly because of massive corruption.

    In absolute terms, the budget deficit was expected to fall to 585 billion naira in 2013, from 744 billion last year, he said. The budget office said last month the deficit would fall to 1.85 percent of GDP in 2013, from 2.85 percent last year.

    “Nigeria has a very strong balance sheet now, compared with a decade ago,” Ngama said.