Tag: GOVT

  • Govt to prosecute those defacing Abuja

    Govt to prosecute those defacing Abuja

    Those who continue to deface structures in the Federal Capital Territory (FCT), especially the city centre, will henceforth be prosecuted and jailed, it was learnt yesterday.

    Coordinator of the Abuja Metropolitan Management Council (AMMC) Umar Shuaibu, who spoke during a sensitization campaign, warned residents to desist from indiscriminate pasting of posters on walls, bridges, road signs, sign boards, illegal advertisements and other public structures, or face the music.

    Shuaibu said: “We are here because of all those people defacing the city. We want to see that we clean everything, and also bring to book, those involved in placing illegal advertisement on walls and other public facilities.

    “Their activities have adversely affected the beauty of the city, so we want to ensure that we clean everywhere, and also ensure that such practise does not reoccur in the future. The most important thing is that Abuja must be clean.

    “We will trace perpetrators of this crime all over the city. If you do not want us to come after you, quickly go to all those places you illegally placed your advertisements and wrote your numbers and either remove or clean them; else we will get you, and punish you in line with prescribed laws. If you want people to come to your event, and know about your businesses, give them addresses through appropriate means.

    “We want to punish defaulters to deter others; because when people break the law and get away with it, it encourages others to do same. They will be punished in line with the laws for defacing the city and causing nuisance.”

  • $350m Eurobond invested by govt, documents reveal

    $350m Eurobond invested by govt, documents reveal

    The $350million Eurobond facility  for the Nigerian Bulk Electricity Trading (NBET) Plc  is not missing, contrary to an observation by Senator Dino Melaye at plenary last week.

    The cash, which is with the Nigeria Sovereign Investment Authority (NSIA), was invested and the trial balance sheet is now over $380, 148,891.

    It was learnt that the government was shocked that Melaye misled the Senate by alleging fraud in the Ministry of Power, Works and Housing.

    Tthe over $1billion Eurobond was sourced by the administration of ex-President Goodluck Jonathan, according to a fact sheet released yesterday which also indicated that out of the $1billion Eurobond, about $350million went to the NBET, about $150million to the Transmission Company of Nigeria (TCN)  and about $500million for the Nigerian National Petroleum Corporation (NNPC).

    The document indicated that since there was no “urgent need for the $350million by NBET” in January 2015, former Minister of Finance Dr. Ngozi Okonjo-Iweala advised that it should be placed with the Nigeria Sovereign Investment Authority (NSIA) to yield interest.

    Okonjo-Iweala, who was conscious of the transition to a new government, took the step to avoid the funds being tampered with.

    The document stated: “As at period ended 30 September 2017, the total managed fund of NBET was $380, 148, 891 signaling an interest of over $30million.

    “The breakdown of the investments is available at the Nigeria Sovereign Investment Authority (NSIA). No cash is either missing or stolen.

    “No amount can be withdrawn by any supervising Minister or NBET except by the express approval of the President, who has not given such permission.

    A top government source, who spoke in confidence, said: “I think the Senator should have been more diligent by asking for details from the appropriate ministry or agency instead of raising false alarm that the Buhari administration has spent the $350million. He could as well invoke the FOI Act to obtain all relevant documents.

    “Melaye simply misled his colleagues by saying emphatically that the cash had been withdrawn and shared.”

    On other issues raised, the government source added: “All the facts will be made available to the National Assembly.”

    Melaye , who is expected to move a substantive motion on the $350million on Tuesday said:  “In July 2013, the Federal Government raised $1billion from Eurobond issue from which $350 million was given to NBET (Nigerian Bulk Electricity Trading (NBET) Plc) in 2014. This money was stolen in installments .”Sometime last year, again, the Ministry of Power came up with an idea of a project they called Afam Fast Power. This project is supposed to build new generating plants to add power to our grid.

    “There are a few questions we need to ask and that is why I need the nod of the Senate to bring a substantive motion on the next legislative day.”

    “Up till date, there is no detail on building new generating plants or a feasibility study. There is no appropriation by the National Assembly for these projects.

    “The ministry has spent so far $35 million on the Afam Fast Power Project which has no appropriation or detailed feasibility study. How and when was this money appropriated? We need to find out. How was $29million purportedly paid to General Electric for turbines when $6 million was paid to others?”

    ”We need the Senate to investigate this after moving a substantive motion. I ask this house to give us the opportunity to continue with the true anti-corruption fight of the Federal Republic of Nigeria.”

    Read Also: Senate queries misuse of $1.35b power sector funds

  • What Oshodi‘ll look like on completion of work, by govt

    What Oshodi‘ll look like on completion of work, by govt

    For those asking what the popular Oshodi Park and market will become after the ongoing construction, the Lagos State Government yesterday gave an insight.

    Ministry of Works and Infrastructure Permanent Secretary Mr Olujimi Hotonu, said there will be a world class Central Business District (CBD) with focus on transportation, security, environment and urban renewal.

    The interchange has three-multi-storey bus terminals with waiting area, loading bays, ticketing stands, drivers lounge, parking areas, conveniences, surveillance tower and CCTV gadgets.

    Other features, Hotonu said, include accessible walkways, pedestrian bridges/sky-walks to link the three terminals, shopping malls with street lighting and a dedicated security team on ground.

    The project is being handled by Messrs Planet Projects.

    He urged motorists and other road users to strictly adhere to safety rules put in place to prevent any disaster.

    The project, he said, has reached advanced stage, adding that upon completion, the project would redefine public transportation and foster economic growth and job creation.

    Planet Projects Managing Director Biodun Otunola said over 1,000 piles (22m) and pile caps have been installed, while the three-multi-storey bus terminal buildings were at advanced stage of construction.

    He said the cars and taxis parks were ongoing with massive walkway under construction, while lighting of the entire Oshodi area was ongoing, all of which were being done by over 500 workers on site.

  • Govt urged to prioritise home ownership

    The President of Perfection Real Estate Investors Cooperative Society, Mr. Niyi Adeleye, has urged the Federal Government to prioritise home ownership.

    Adeleye, who spoke at the weekend, at a conference in Ikeja, said the government should prioritise home ownership by assisting and encouraging cooperative societies to realise the dream of providing affordable houses for Nigerians.

    He said churches and corporate bodies should form cooperative societies to help members and stakeholders to become house owners.

    His words: “Governments cannot meet the housing needs of Nigerians; this is why Perfection Real Estate Investors Cooperative Society should be encouraged to assist Nigerians to become home owners.

    “We are embarking on projects in Lekki and Festac Town, to assist Nigerians become home owners. People should join our cooperative society; they will gain a lot if they do. It will be a golden opportunity to realise their ambition of owning their houses.

    “Perfection Real Estate Investors Cooperative Society was established out of the need and passion to provide solution to human problems in the real estate sector, while empowering people financially.

    “We are on a mission to make home ownership and participation in the real estate sector accessible to Nigerians. This is made possible by our products and income opportunities, which we have created for the benefit of our members. They are property ownership products, real estate investment products, ordinary membership and ambassadorship.”

  • Why govt, religious bodies must partner on education, by don

    The Head of Department of Religious Studies, Obafemi Awolowo University Ile-Ife Prof David Ogungbile has called on government and religious bodies to collaborate for the revival of education in the nation.

    He said government and religious bodies must join forces and resources to give the nation quality education across all sectors.

    Ogungbile spoke yesterday at the inaugural educational seminar of Motailatu Church Cherubim and Seraphim Worldwide (MCCSW) as part of activities marking the 53rd anniversary of the church.

    Speaking on the Nigeria and qualitative education: How would religious bodies partner with the state in getting it right? Ogungbile said there was need to work together in advancing qualitative education by following the United Nations’ prescription.

    The don said the state and religious bodies should collaborate in reviewing the concept and policies of education to make it more qualitative.

    He said that the previous and current structure, curricula and programmes of education need to be re-examined to find out areas where things could be done better.

    “There should be a collective review of such programmes, structure and curricula.

    “Curricula must address all-round education which addresses the wholeness of the human being: language, culture, history, science, science, technology, medicine, ’’the professor said.

    He said government should consider religious bodies as partners in the sector and come up with tax-friendly regimes to encourage their intervention.

    Religious bodies, according to him, must advocate for welfare of teachers as well as provision of infrastructure in public schools.

    The Chairman, Lagos State Chapter of Christian Association of Nigeria (CAN) Apostle Alexander Bamgbola, urged government at all levels to give priority to the education sector.

    According to him: “A nation that is not educated is not a nation, a nation where education is being destroyed that nation is being destroyed.

    “There is need to make learning attractive for the future of the country,’’ he said, noting that if school is made attractive, it will reduce the rate of dropouts.

    “When you plan for children, you plan for the future. When the future is solid, then other things will fall in place,’’ he said

    Prelate/ Supreme Head of MCCSW, Baba Aladura Elder Dr Israel Akinadewo, said the church was determined to reduce illiteracy in the Aladura movement and impart the next generation through education.

    He informed the church has granted scholarships to indigent students up to Post Graduate levels.

     

     

  • Govt working to attract, retain investments in oil  industry, says Osinbajo

    Govt working to attract, retain investments in oil industry, says Osinbajo

    The Federal Government says it is working on reforms and policies to attract and retain investments in the oil and gas industry in view of the increasing competition in attraction of capital into the sector as many African countries have become oil producers.

    The Vice President, Prof. Yemi Osinbajo, stated this yesterday at the 55th Business Anniversary event of the Oil Producers Trade Section (OPTS), an arm of the Lagos Chamber of Commerce and Industry (LCCI) in Lagos.

    Osinbajo highlighted government’s achievements in the oil and gas sector despite the challenges oil price crash posed in the last three years as well as the prevailing issues and what the government is doing.

    He said: “OPTS has a rich heritage of promoting the best interest of the upstream oil and gas sector of the Nigerian economy. It has the largest private sector investment and participant our nation. We all owe you a debt of gratitude for the positive contributions you made through the years.

    “The theme of today’s event “Nigeria: An investor-friendly destination” is in line with government’s plan of transiting to the next chapter of maximizing our resources for the development of our nation.”

    The Vice President highlighting the performance of the oil and gas industry said more than ever, Nigeria needs closer collaboration with OPEC and non-OPEC in curbing oil production. All market sentiments have improved since OPEC and non-OPEC announced output cut.

    He noted that besides oil price slump, Nigeria’s upstream oil and gas industry challenged by the menace of upstream assets vandalism, which reduce production from 2.2 million barrels per day at the beginning of 2016 to all time low of less than a million barrels per day. The situation made upstream players especially the indigenous firms suffer.

    “However, government has embarked on sustainable engagement with stakeholders in the Niger Delta and production has ramped up to 1.8 million barrels per day including condensate. The incremental production being achieved with the peace in the Niger Delta will help the government achieve a pathway towards the implementation of incorporating the Incorporated Joint Ventures (IJVs). The IJV is a new sustainable funding model that will fully take over the funding of the Joint Venture operations with the multinationals as government exits cash calls, the counterpart funding for JV projects deemed unsustainable.”

    He said government will continue to channel more energy in resolving the downstream issues once and for all, thanking the Nigerian National Petroleum Corporation for sustaining steady fuel supply nationwide.

    He commended the achievement Local Content in increasing participation of Nigerians in the oil and gas industry, adding that local participation in the sector has increased by over 140 per cent in 2016 and expressed hope it would even increase further in 2017 and beyond.

    On challenges, he said: “We, however, have challenges in the areas of security and environment, institutional capacity, funding of investments, high industry technical cost, obsolete legislation and fiscal regimes, downstream sector issues and infrastructure constraints. These factors underpin our approach and consideration in reforming and repositioning the oil and gas industry.

    Other speakers include the President, LCCI, Dr Nike Akande, Chairman OPTS and Managing Director, NNPC Group Managing Director, Dr. Maikanti Baru, Shell Petroleum Development Company and Chairman, Shell Companies in Nigeria, Mr. Osagie Okunbor, Managing Director of Total Upstream Nigeria, Nicholas Terraz, Managing Director, Seplat Plc, Austin Avuru, among other.

  • Kachikwu: govt eyes more oil, extra $9b yearly, others

    Kachikwu: govt eyes more oil, extra $9b yearly, others

    The Federal Government plans to increase oil output from two million barrels per day (bpd) to between 2.2 and 2.3 million bpd, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said.

    He also said the government would begin the implementation of some fiscal policies to generate about $2 billion yearly in the short term and $9 billion in the long term.

    Kachikwu made this known in a podcast in Abuja. According to him, the Federal Government has achieved a lot in the past two and half years, adding that following the launch of the #7BigWins by President Muhammadu Buhari, some outstanding deliverables have been accomplished.

    He said: “Between 2015 and 2016, the government focused on delivering zero fuel availability challenges. We made sure that fuel scarcity and long queues disappeared and we have been able to continue with that. We thank the Nigerian National Petroleum Corporation (NNPC) for continuing on that delivery.

    “We have been able to exit cash call system. For the first time, the multinational oil firms have begun to have belief in the need to invest in the country. The amount of investment from the Joint Venture international oil companies (IOCs) is in excess of between $14 billion and $15 billion. The multi-nationals have begun to have confidence that the system is working. The Zabazaba and Bonga extension projects are testaments to the investments.

    “The NNPC has opened its books to be as transparent as possible. It is not just about NNPC, other parastatals are doing wonderful works. Openness has been achieved here.”

    On the Niger Delta region, Kachikwu said:“The Petroleum Ministry is working with the Vice President, the Niger Delta Ministry, the security forces and the Presidency to further deepen engagement in the region. We are still doing more work to bring calm and stability to the region.

    “By end of the year, we plan to implement our petroleum and gas policies, bring out industry regulations and hold industry reward in December. The reward is to those players, who have been exceptional such as low cost operators, those that brought some unique IT projects, those that worked under very challenging conditions and delivered good barrels on the table, downstream players that have delivered good deliverables and infrastructure.

    “We will also launch ‘Project 100.’ Get small and big firms and bring them to the finish line by finding the difficulties they have, incentives they need, how do they create work and energise the sector?

    “We will also implement our fiscal policies waiting for approval by the Federal Executive Council (FEC). When approved and implemented, they will be expected to generate $2 billion earnings in a year in the short term and about $9 billion yearly in the long term. So, we are working with the National Assembly to transmit it into legislative provision.

    “For 2018 and 2019, we expect to rehabilitate the refineries, stop importation of products, among others,” Kachukwu said.

  • Marketers defy govt’s directives, sell diesel at N225

    Marketers are selling automotive gas oil (AGO), also known as diesel, at between N210 and N225 per litre across the country, months after the Nigerian National Petroleum Corporation (NNPC) crashed the price by 42 per cent, from an all-time high of N300 per litre in January 2017 to N160 per litre in July, The Nation has learnt.

    Also, ex-depot prices of diesel, which dropped to between N135 and N155 per litre in July, when the NNPC cut the price of the product, have risen considerably.

    It was gathered that many outlets owned by the independent and major marketers have adjusted their pump price to between N210 and N225 per litre. However, a few outlets, including those owned by the NNPC, are selling diesel below N200 per litre.

    A visit to some filling stations in Egbeda, Ikeja, Ikorodu and other areas within the Lagos metropolis  showed that the price of diesel has shot up to over N200 per litre from N160; the price it was reduced to in July, in line with its strategic intervention programme of easing the burden of high cost of the product on consumers.

    Marketers, who spoke to The Nation, said the rise in the price of diesel was not surprising as the price of the product has been deregulated over the years. So, the price is determined by market forces of demand and supply, they said, adding that such developments are expected in a deregulated market.

    NNPC  spokesman Mr. Ndu Ughamadu attributed the increase to deregulation of that segment of the downstream sub-sector years back.

    Ughamadu told The Nation on phone that the deregulation resulted in the differential prices of petrol, diesel and kerosene, adding that the idea has paved way for what he described as free entry and free exit market regime in the sector.

    He said the NNPC was not suprised by the turn of events in the sector in view of the decision by the Federal Government to deregulate the industry.

    Ughamadu said: “NNPC was definitive in its statement that the market is influenced by the forces of supply and demand, and that the intervention was meant to ease the burdens of high cost of diesel on the consumers. The intervention is subject to the dynamics of demand and supply. When the demand for diesel is high, the price of the product will also be high. Conversely, when the demand is low, the price will also be low.”

    The Federal Government in June 2016, increased fuel prices across boards. To reduce the burdens on the users, the NNPC strategically intervened by reducing the price of diesel from N300 per litre to N160 per litre in July through flooding the market with the product.

    Part of the interventions include improving supply of diesel, remodeling of the product distribution to address sufficiency issue, and working hard with relevant stakeholders to improve distribution from refinery depots, by implementing a robust loading programme.

    The NNPC also partnered stakeholders such as the major Oil Marketers Association of Nigeria (MOMAN), the Nigerian Association of Road Transport Owners (NARTO), Petroleum Tanker Drivers (PTD) and the Independent Petroleum Marketers to improve fuel supply.

    Other efforts included the resuscitation of critical pipelines and depots in places such as Atlas Cove-Mosinmi, Port Harcourt Refinery, Kaduna Refinery, and the ongoing plans to revamp and commission other major pipelines across the country.

  • Govt saves $2b from local cement production

    Govt saves $2b from local cement production

    Nigeria has saved $2 billion from local production of cement in the past one year Chairman, BUA Group, Abdulsamad Rabiu, has said.

    Rabiu spoke to State House reporters yesterday in Abuja, at the end of the Presidential Industrial Policy and Competitiveness Advisory Council chaired by Vice President Yemi Osinbajo.

    He said  the reduction in the importation of the product has reduced the need for foreign exchange for the product.

    He said: “The most important thing I think, is that the cement industry in Nigeria has, and will continue to save Nigeria a lot of foreign exchange.

    “If for example, you look at what we have produced in Nigeria today, maybe 25 to 30 million tons, if we quantify that in terms of foreign exchange, it is almost $2 billion  per year.

    “That is a lot of money being saved because if we do not have these cement plants, definitely we hve to import.”

    He said there are prospects for Nigeria to achieve higher savings from increasing local production of cement in the near future.

    “We will be commissioning our Sokoto plant next quarter, early 2018 and also our Edo second cement line will come on stream probably by second quarter of next year.” he said.

    On the purpose of the visit to the Villa,  he said: “We are here this evening to attend the monthly Presidential Advisory Council meeting with the Vice President and we discussed a lot of issues.

    “As you all know, this Council is one that is trying to bring the private sector together with the government, to come up with ideas on how we can improve on a lot of things, most especially infrastructure, power, roads and so many other things. I believe this is a good thing.

    “This is the third meeting we are having today and we will have another meeting next month.”

    Rabiu said the  Council has made a lot of progress and a lot of areas have been identified that the government, together with the private sector are going to work together to see that work can start as soon as possible.

  • Mabogunje tells govt to review Land Use Act

    Mabogunje tells govt to review Land Use Act

    •Says it aids poverty

    Nigeria’s foremost geographer and Chairman, Ibadan School of Government and Public Policy (ISGPP), Prof. Akin Mabogunje, has called on the federal government to urgently embark on land reform to lift millions of citizens out of poverty.

    He spoke at a seminar on the theme: “Decentralized governance, the people and development in Nigeria” which was held at the Bodija, Ibadan premises of the school. The seminar was held in his honour on the occasion of his 86th birthday.

    Mabogunje, who is the first Nigerian professor of Geography, said Nigeria was wasting time and the lives of its citizens by holding onto ownership of land through the Land Use Act.

    He recalled that China has freed 760 million citizens from poverty in the last 30 years through the instrument of land reform.

    According to him, it took Britain 80 years to achieve land reform while it took the United States of America 35 years to do the same. Afterwards, he said their citizens were able to easily use land for economic activities which lifted them out of poverty.

    He said: “China raised 760 million citizens out of poverty in the last 30 years through land reform. It brought about huge economic and development activities in the rural areas. Rwanda has also started and I believe that country will soon show Nigeria how to move forward.

    “The purpose of land reform is to ensure we take millions of Nigerians out of poverty. A similar idea is what I introduced to them in Ijebu-Ode which is known today as the Ijebu Development Initiative on Poverty Reduction which has built assets in excess of N1.4 billion mostly through aqua culture alone.”

    While supporting the general position of discussants at the seminar on the need to decentralize governance in Nigeria for true rural development to happen, Mabogunje emphasized that the current Land Use Act which cedes ownership of lands to the government is counterproductive. But when government denationalizes land ownership, citizens will put more land into productive use, generating huge economic activities that will lift people out of poverty.

    Welcoming participants, the Executive Vice Chairman of the school, Dr Tunji Olaopa, explained that rural development and local governance have always been at the centre of Mabogunje’s heart as demonstrated by the concept of OPTICOM (Optimum Community) which he propounded over 30 years ago.

    He pointed out that the seminar was aimed at igniting a “national discourse on the obvious truth that the development ideas being implemented in the policy space in Nigeria is not just working, and as we approach 2019, ISGPP as a think tank is worried and concerned. And so, the best time is now for development experts to begin a level of conversation that will deliver an alternative model of development for Nigeria.”

    The chairman of the seminar, Prof. Anthony Asiwaju, hailed Mabogunje for his innovations on rural development initiatives and general contributions to Nigerian development.

    In his keynote address, Prof. Mike Adeyeye of the Department of Local Government Studies, Obafemi Awolowo University, Ile-Ife, urged states creating local council development areas to make them actual development centres rather than another political arm of corruption or for political correctness.

    In his presentation, the Chairman, Presidential Technical Committee on Land Reform, Prof. Peter Adeniyi, called on the All Progressives Congress (APC) to fulfil its campaign promise of reviewing the Land Use Act, expunging it from the constitution and handing over ownership to Nigerians to pave way for real development activities.

    Various speakers, including Prof. Ayo Olukotun, Bolanle Awe, Dr Taiwo Olaiya and Dr Tope Aladesanmi paid glowing tributes to Mabogunje for his selfless services to the country.