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Tag: Laolu Akande

  • Nigerians always excel when focused – Osinbajo

    Nigerians always excel when focused – Osinbajo

    Reflecting on Nigeria’s impressive ranking in the latest World Bank Doing Business report, Vice President Yemi Osinbajo on Wednesday said that the country can do better if Nigerians faced its challenges headlong.

    Prof. Osinbajo said this when a team from the World Bank formally presented the 2018 Doing Business report to the Federal Government at the Presidential Villa, Abuja.

    In the latest World Bank Doing Business index, Nigeria climbed up 24 places and was placed on the list of 10 most reformed economies globally.

    According to the report, Nigeria made significant progress across several indicators comprising starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency.

    In a statement by the Senior Special Assistant on Media and publicity, Laolu Akande, Osinbajo said: “This shows that we can do better in whatever we commit ourselves to do in the country. There is nothing exceptional about Nigeria’s problems; it is just for us to find the best ways to resolve them,”

    Prof. Osinbajo further praised the Presidential Enabling Business Environment Council (PEBEC) for its commitment and efforts since its inception.

    “We are all excited about the latest ranking, it just shows we can do much better as a people,” the Vice President said.

    In his remark, the Country Director of the World Bank in Nigeria, Mr. Rachid Benmessaoud, praised the efforts of the Federal Government, stating that the improvement was proof of the leadership provided by the Buhari administration, and the impact of its Ease of Doing Business reforms.

    Benmessaoud said that Nigeria’s leap in the World Bank Doing Business rankings was “an important signal from Nigeria’s federal government’s effort, and also an important signal from Africa’s largest economy.”

    He said: “We come to congratulate Nigeria and the Federal Government of Nigeria under the leadership of His Excellency, Muhammadu Buhari, for the reforms that have been undertaken that provided for Nigeria to jump into the indicators for doing business in Nigeria.

    “This is a tribute to this council, which has been regularly meeting and focusing on the issues that influence doing business in Nigeria. And this council has done a great job under the leadership of His Excellency, the Vice President, Professor Yemi Osinbajo, SAN.”

    The World Bank also pledged its support for the Federal Government in its bid to further the improvement of Nigeria’s investment climate.

    PEBEC, which is chaired by the Vice President, was established by President Buhari in 2016, with a mandate to sustainably and progressively make Nigeria an easier place to do business. The members of the council include the Minister of Industry, Trade & Investment, who is Vice Chair; while other PEBEC members are 10 Honourable Ministers, the Head of the Civil Service of the Federation and the CBN Governor.

    It would be recalled that the Enabling Business Environment Secretariat (EBES), which became fully operational in October 2016, is coordinated by Dr. Jumoke Oduwole, the Senior Special Assistant to the President on Industry, Trade and Investment.

    The meeting was also attended by other ministers, including the Honourable Minister of Finance, Kemi Adeosun; Minister of Power, Works and Housing, Mr. Babatunde Fashola; and the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele.

  • Nigeria, Indonesia to strengthen economic ties

    Nigeria, Indonesia to strengthen economic ties

    Vice President Yemi Osinbajo has disclosed that Nigeria and Indonesia have agreed to work together to increase the level of economic cooperation between both countries.

    Prof. Osinbajo spoke on Tuesday morning at a bilateral meeting he held with his Indonesian counterpart, Vice President Jusuf Kalla, on the sidelines of the Extractive Industries Transparency Initiative ( EITI ) Beneficial Ownership Transparency Conference in Jakarta, Indonesia.

    According to a statement by the Senior Special Assistant on Media and publicity, Laolu Akande, Osinbajo said that Nigeria is open for business and more investment.

    He said “We are looking forward to more Indonesian investments especially in the manufacturing sector in Nigeria, trying to exploit our local raw materials,”

    He also informed Mr. Kalla that the Buhari administration has implemented reforms that have made the Nigerian business environment “a more favourable environment.”

    In his own remarks, the Indonesian Vice President said his country is also ready for more economic cooperation with African countries, especially Nigeria.

    Vice President Kalla also conveyed his greetings to President Muhammadu Buhari and asked after his health, to which Prof Osinbajo responded that the President was doing very well.

    The Nigerian Vice President then expressed appreciation to the Indonesian government and extended greetings to President Joko Widodo.

    Other issues discussed by the two Vice Presidents included how both countries can collaborate more in the Agriculture and agro-allied sector, and also in palm oil research and production.

  • Osinbajo denies approving NNPC ‘Contracts’

    Osinbajo denies approving NNPC ‘Contracts’

    Vice President, Prof. Yemi Osinbajo, on Thursday said that he only approved two loans for the Nigeria National Petroleum Corporation (NNPC) and not contracts.

    Osinbajo’s Senior Special Assistant on Media and Publicity, Laolu Akande had earlier said that the Vice President approved contracts for NNPC.

    Akande said the contracts were approved after due diligence by the Vice President when he acted as President when President Muhammadu Buhari was away in the United Kingdom.

    The VP’s aide said his principal approved the recommendations for the contracts as part of necessary actions to deal with the backlog of unpaid cash calls and incentivise investments.

    Akande said Prof. Osinbajo made the clarification in view of media enquiries that followed NNPC’s claim that the contracts were indeed approved by Osinbajo.

    Akande had tweeted: “In response to media inquiries on NNPC joint venture financing, VP Osinbajo, as Ag President approved recommendations after due diligence & adherence to established procedure.

    Read Also: I approved NNPC joint financing contracts – Osinbajo

    “Action necessary to deal with huge backlog of unpaid cash calls which Buhari adm inherited and also to incentivise much needed fresh investments in the oil & gas sector,” Akande had tweeted.

    But reacting to the statement on Thursday in Bonny Island where he flagged off the Bodo-Bonny Road, Rivers state, Osinbajo said he granted loans and not contracts.

    His words: ” They were financing loans, joint venture loans, that have procured so in some cases NNPC ventures have to secure loans and they need the authorization to secure those loans.

    “While the President was away, I granted authorization which is what the law provides.

    “The law actually provides for that authorization, so I did grant all of those, in fact, there were two of them but those are presidential approvals but they are specifically for financing joint ventures and they are Loans not Contracts”, the Vice President added.

  • I approved NNPC joint financing contracts – Osinbajo

    I approved NNPC joint financing contracts – Osinbajo

    Vice President Yemi Osinbajo on Thursday admitted he approved the joint venture financing contracts of the Nigerian National Petroleum Corporation (NNPC).

    The Senior Special Assistant to the Vice President on Media and Publicity, Mr. Laolu Akande, said on his Twitter handle, @akandeoj, that Osinbajo approved the contracts to deal with backlog of unpaid cash calls inherited by the present administration.

    Akande said the approval was to “incentivize” much needed fresh investments in the oil and gas sector.

    “The approval was given after due diligence and adherence to established procedure,” he stated.

    Read Also: Kachikwu -Baru: In search of a truce

    According to him, the NNPC joint venture financing was approved during Osinbajo’s stint as Acting President.

    Akande added: “Action was necessary to deal with huge backlog of unpaid cash calls which Buhari administration inherited and also to incentivise much needed fresh investments in the oil and gas sector.

    “In response to media inquiries on NNPC joint venture financing, VP Osinbajo, as Ag President approved recommendations after due diligence and adherence to established procedure.”

  • FG begins North-East humanitarian Makeathon in october

    FG begins North-East humanitarian Makeathon in october

    The Federal Government will begin a North-East focused Makeathon in October, the Senior Special Assistant on Media and Publicity to the Vice President, Mr Laolu Akande, said on Thursday.

    Makeathon is a process of crowdsourcing ideas around solutions open to interested persons, humanitarian actors, engineers, designers, scientists, innovators, investors and entrepreneurs in the region.

    According to Akande, the programme is in line with President Muhammadu Buhari’s administration’s policy of promoting use of technology as critical tool for public service delivery.

    He said The programme would be conducted through the Presidency’s National Social Investment Office.

    The North East Makeathon is slated to run from October 2017 to December 2017 and will usher in the first set of incubation activities in the proposed North East humanitarian innovation hub.

    He said the focus of the hub would be to address challenges faced by persons in the region, some of which include Nutrition and Food Security, Early Recovery and Economic Security (Diversifying Livelihoods).

    Others are Camp Coordination and Management, Education (innovative and creative learning solutions) and Health (innovation, which addresses the health issues faced by pregnant women, children and communities in the region.

    Another critical area of focus in the hub, he said, would be the protection of women and children, gender-based violence, innovative and preventive measures.

    The Vice Presidential Spokesman said that the establishment of the proposed hub for the North-East was being driven by the National Social Investment Office working with the Presidential Committee for the North-East Initiatives ( PCNI ).

    Also involved would be the National Emergency Management Agency ( NEMA ), in partnership with International Committee for the Red Cross (ICRC).

    Akande said it would serve as Humanitarian Innovation Hub and be situated in Yola, Adamawa State.

    The Federal Government intended to create eight private sector-led Innovation Hubs across the country, one in each of the six geo-political zones, as well as in Lagos and Abuja, he added.

    He explained that the main objective was to foster innovation in the country, through the National Social Investment Office.

    “The proposed innovation hubs would also provide training of varied IT skills, empowering youth for entrepreneurship and employment.

    “Additionally, the hubs would provide platform at an entrepreneurial level for support from the venture capital sector, as well as create job opportunities for graduates and trainees.”

    According to Akande, the goal is to catalyse growth and employment-focused partnerships while bringing together IDPs, humanitarian actors, social entrepreneurs, businesses, as well as the public and private sector.

    The agencies would have the shared goal of scaling effective, timely, efficient and ethical solutions to address common challenges and provide local solutions for local problems, including religious matters, he said.

    He noted that for further details on the challenges and how to participate, interested persons could refer to the website at www.nemakeathon.org.

  • Osinbajo seeks high level of integrity by financial institutions

    Osinbajo seeks high level of integrity by financial institutions

    Vice President Yemi Osinbajo, has urged financial institutions to uphold a high level of integrity and forthrightness in the discharge of their duties.

    Prof. Osinbajo made the call when a delegation from the Association of National Accountants of Nigeria (ANAN) paid him a courtesy call at the Presidential Villa, Abuja.

    Osinbajo, in a statement by the Senior Special Assistant on media and publicity, Laolu Akande, said financial institutions have a crucial role to play in helping the President Muhammadu Buhari administration to fight corruption, as well as in improving the country’s economy.

    He said that as a financial body, ANAN should call out individuals who are allegedly tied to some levels of financial crimes to step down from their positions, so as to help curb corruption in the financial sector.

    “The level of integrity that we expect is not necessarily what we are seeing, especially in respect to financial statements and all of that,” the Vice President said.

    He also commended the association for the important roles it has played in regulating the country’s financial sector since it was incorporated in 1979, adding that a high level of integrity by financial institutions would help improve the lives of citizens.

    Speaking earlier, the ANAN delegation, led by its president, Alhaji Shehu Usman, praised the Buhari administration for its leadership in the affairs of the nation, the fight against corruption, insecurity and improving the economy.

    The delegation appealed to the Federal Government to increase the appointments of their members into key positions in the civil service.

  • NCP approves privatization of Afam power plants

    NCP approves privatization of Afam power plants

    The National Council on Privatisation ( NCP ), which is chaired by the Vice President Yemi Osinbajo, has approved the commencement of the privatisation of Afam Power plants 1 to 5 in Rivers.

    According to statement issued by the Vice Presidential Spokesman, Mr Laolu Akande, on Monday the measure is to inject additional power into the national grid and improve electricity supply nationwide.

    Read also: NNPC increases gas supply to power plants by 123%

    Akande said this and other decisions were taken during the meeting of the NCP, between Aug. 22 and Aug. 23, 2017 at the Presidential Villa, Abuja.

    NCP is the highest decision making body on policies relating to the privatisation and commercialisation policies of the Federal Government.

    According to Akande, the Council also approved the pursuit of an out-of-court settlement involving the privatisation of Aluminium Smelter Company of Nigeria (ALSCON).

    The move, he said, aimed to resolve the lingering dispute between the Federal Government, BFIG and United Company RUSAL through the mediation of the Secretariat with the active collaboration of the Federal Ministry of Mines and Steel Development.

    The council advised that “the mediation efforts should take a holistic view of the entire sector and the overriding national interests to jumpstart industrial development through the steel sector in arriving at a resolution on the matter.”

    The council also  reviewed the proposals presented by its Secretariat, the Bureau of Public Enterprises (BPE), for the reform and restructuring of various sectors of the economy.

    Read also: Senate to probe Kaduna power plant failure

    Consequently, it approved the immediate revocation of the concession of the Lagos International Trade Fair Complex and the immediate commencement of a fresh privatisation of Yola Electricity Distribution Company.

    The approvals, he said , were aimed at giving traction to key infrastructure facilities in the country presently under concessions but had been adjudged to be performing sub-optimally.

    Other key decisions taken by the council included the approval of the amendments to the Work Plan for the conclusion of the transaction involving the concessioning of Terminal “B” Warri Old Port.

    The Council also approved the  restructuring and recapitalisation of Bank of Agriculture.

    “The restructuring of the BOA is in alignment with the Government’s desire to make financing options readily available to farmers for an aggressive diversification of the Nigerian economy.”

    He said the council also approved the immediate commencement of the reform and commercialisation of the River Basin Development Authorities to revitalise the irrigation and river basin potential for agricultural purposes.

    Similarly, to harness the nation’s untapped tourism potential, the council approved the partial commercialisation of the National Parks using three key national parks as pilot projects.

  • FG to launch One-Stop-Shop for MSMEs

    FG to launch One-Stop-Shop for MSMEs

    In fulfillment of its mandate to significantly spur Micro, Small and Medium Scale Enterprises ( MSMEs ) the Federal Government would launch one-stop shops in no fewer than seven states across the country.

    The measure is to facilitate smoother government regulation and interface between entrepreneurs and agencies of government.

    Read also: UNIDO upgrades MSMEs’ financial literacy 

    The Vice President’s Spokesman, Laolu Akande, said in a statement on Monday that already one such one-stop shop for MSMEs in Plateau State was launched in Jos on Aug. 24, and was being housed by the Plateau State Micro-Finance Development Agency (PLASMEDA).

    According to him, the states that are next in line are Abia, Cross River, Ogun, Akwa Ibom, Kwara, Kano, Benue and the FCT.

    He said that the shops were slated to take off between September and October, adding that more of the one-stop shops are expected to be launched in other states before the end of the year.

    The one-stop-shop is aimed at bridging the information gap between micro and small investors and regulatory agencies of government.

    Such agencies include the National Agency for Food and Drug Administration and Control (NAFDAC), Corporate Affairs Commission (CAC), Standards Organization of Nigeria (SON), Federal Inland Revenue Service (FIRS), and others.

    Akande said that the MSMEs clinics which held in several States already had provided the opportunities for entrepreneurs and local producers in the MSME level to interact with regulatory agencies.

    Read also: ‘Accounting can sustain MSMEs in Nigeria’

    He added that the One-Stop Shop would create an ongoing opportunity in a permanent location to achieve the same purpose.

    The One-Stop Shop programme is part of the on-going Nationwide Micro, Small and Medium Enterprise Clinics for Viable Enterprises (MSME Clinics) initiated by the Presidency in January 2017.

    The MSMEs Clinics, one of the diversification initiatives of the Buhari administration, was designed to give small businesses the opportunity to interact with the industry regulators in an effort to spur local production and harness the nation’s export potential.

    Read also: Entrepreneurship, Key to ending Youth Unemployment in Nigeria- YPNI

    The agencies to be housed in the One-Stop Shops are the Bank of Industry (BOI), Bank of Agriculture (BOA), CAC, FIRS, SON, NAFDAC, and the Industrial Training Fund (ITF).

    Others are the Nigerian Export-Import Bank (NEXIM), Nigerian Export Promotion Council (NEPC), and Small & Medium Enterprises Development Agency of Nigeria (SMEDAN).

  • FG to launch One-Stop-Shop for MSMEs in 7 states

    FG to launch One-Stop-Shop for MSMEs in 7 states

    In fulfillment of its mandate to significantly spur Micro, Small and Medium Scale Enterprises (MSMEs) the Federal Government would launch one-stop shops in no fewer than seven states across the country.

    The measure is to facilitate smoother government regulation and interface between entrepreneurs and agencies of government.

    The Vice President’s Spokesman, Laolu Akande, said in a statement on Monday that already one such one-stop shop for MSMEs in Plateau State was launched in Jos on Aug. 24, and was being housed by the Plateau State Micro-Finance Development Agency (PLASMEDA).

    According to him, the states that are next in line are Abia, Cross River, Ogun, Akwa Ibom, Kwara, Kano, Benue and the FCT.

    He said that the shops were slated to take off between September and October, adding that more of the one-stop shops are expected to be launched in other states before the end of the year.

    The one-stop-shop is aimed at bridging the information gap between micro and small investors and regulatory agencies of government.

    Such agencies include the National Agency for Food and Drug Administration and Control (NAFDAC), Corporate Affairs Commission (CAC), Standards Organization of Nigeria (SON), Federal Inland Revenue Service (FIRS), and others.

    Akande said that the MSMEs clinics which held in several States already had provided the opportunities for entrepreneurs and local producers in the MSME level to interact with regulatory agencies.

    He added that the One-Stop Shop would create an ongoing opportunity in a permanent location to achieve the same purpose.

    The One-Stop Shop programme is part of the on-going Nationwide Micro, Small and Medium Enterprise Clinics for Viable Enterprises (MSME Clinics) initiated by the Presidency in January 2017.

    The MSMEs Clinics, one of the diversification initiatives of the Buhari administration, was designed to give small businesses the opportunity to interact with the industry regulators in an effort to spur local production and harness the nation’s export potential.

    The agencies to be housed in the One-Stop Shops are the Bank of Industry (BOI), Bank of Agriculture (BOA), CAC, FIRS, SON, NAFDAC, and the Industrial Training Fund (ITF).

    Others are the Nigerian Export-Import Bank (NEXIM), Nigerian Export Promotion Council (NEPC), and Small & Medium Enterprises Development Agency of Nigeria (SMEDAN).

  • Osinbajo denies taking over ASUU negotiations

    Osinbajo denies taking over ASUU negotiations

    Reports that Vice President Professor. Yemi Osinbajo has taken over negotiations with the Academic Staff Union of Universities (ASUU) to end the strike is “untrue,” according to his spokesperson Laolu Akande.

    Minister of Labour and Employment, Senator Chris Ngige was quoted after the Federal Council Meeting (FEC) on Wednesday to have said Osinbajo will henceforth lead the negotiations with ASUU. 

    Ngige said,  “At Council today, the Vice President has taken over some of the aspects of the negotiations and discussions.”

     “So, we are continuing the meeting in his office and when we finish meeting, we will get back to ASUU for another round of meeting and we are hopeful that we will be able to go to an appreciable extent to solve some of the outstanding issues that are preventing them from going back to work.’’

    However, early Friday Osinbajo retweeted a tweet by Laolu Akande, his media aide, debunking the reports.

    The tweet read: “News reports that VP Osinbajo has taken over ASUU negotiations is untrue & inaccurate. Labour & Education Ministers continue to lead d talks.”

    ASUU has been on strike for about two weeks demanding implementation of previous agreements, full payment of salaries and improved government funding of universities.