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Tag: Osinbajo

  • Senators grumble as Osinbajo withholds assent to four bills

    Senators grumble as Osinbajo withholds assent to four bills

    Some senators grumbled yesterday as Senate President Bukola Saraki conveyed the decision of Acting President Yemi Osinbajo to withhold assent to four bills passed by the National Assembly.

     Prof. Osinbajo’s letters withholding assent to the four bills were read by the senate president.

    Saraki said the Senate would refer the bills to the legal department to enable it decide the next line of action.

     The four bills are: National Lottery (Amendment) Bill passed by the National Assembly in 2016; the Dangerous Drug (Amendment) Bill also passed in 2016; Agricultural Credit Guarantee Scheme Fund (Amendment) Bill 2016 and Currency Conversion (Freezing Orders) (Amendment) Bill 2016.

     Prof. Osinbajo said the withholding of assent to the bills was based on Section 58(4) of the Constitution of the Federal Republic of Nigeria 1999 (as amended.)

     On the refusal of assent to the National Lottery (Amendment) Bill, the Acting President said that the rationale for withholding assent to the Bill was the existence of pending legal challenge to the competence of the National Assembly to legislate on the subject matter.

     On the Dangerous Drug Amendment Bill, Osinbajo explained that he withheld assent to the Bill as a result of concerns regarding certain words and phrases in the draft Bill that may be inconsistent with the Principal Act, “for example Section 6 of the Bill with Section 21 of the Principal Act” and the spirit behind the proposed amendments.

     On  rejection of the Agricultural Credit Guarantee Scheme Fund(Amendment) Bill, the Acting President said: “The reason for withholding assent to the bill are the concerns surrounding board composition, funding arrangements, limitation of liability of funds and proposal to increase levels of uncollateralised loans from N5,000 to N250,000.”

     On why he withheld assent to the Currency Conversion (Freezing Orders) Bill.2016, Osinbajo said: “The rationale for withholding assent to the bill is the concern regarding the modalities for the communication of asset forfeiture orders.”

    Senator Dino Melaye (Kogi West), who sponsored the National Lottery Amendment Bill, claimed that the Executive lacked the powers to reject bills passed by the National Assembly.

     He said: “The role of the executive is to carry out their traditional role by signing any bills passed by the National Assembly.”

     Senator George Sekibo told the Senate that it had the power to override the Acting President.

     

  • Osinbajo seeks strong Nigeria – US ties

    Acting President Yemi Osinbajo on Wednesday said the time has come for Nigeria and the United States to deepen the long-standing relationship between the countries based on mutual trust.

    Osinbajo spoke at the Presidential Villa, Abuja, while receiving the Commander of the US-Africa Command, Gen. Thomas D. Waldhauser and the American Ambassador to Nigeria, Hon. W. Stuart Symington.

    In a statement issued by his Senior Special Assistant on Media and Publicity,  Laolu Akande, the Acting President said : “We will be very open and willing to build a relationship based on trust, so that we would benefit from it and of course our relationship as nations would benefit tremendously from it.”

    Nigeria’s relationship with the US, he observed, is a very important one “and has been so for many years, even so now at a time like this for us.”

    He said the Federal Government is appreciative of US support over the last few years.

    Osinbajo said it is the belief of the Buhari presidency that the US is committed to helping Nigeria tackle some of its challenges especially in the Northeast.

    In his remarks, Gen. Waldhauser expressed the readiness of the U.S government to “accelerate” its contributions, adding that there is a sense that “we want to get on and solve the problem.”

  • FG wants NASS ‘resolution’ on $500m Eurobond

    FG wants NASS ‘resolution’ on $500m Eurobond

    The Federal Government on Wednesday requested for the National Assembly resolution on the $500 million Eurobond designed to fund the 2016 budget deficit.

    The request was contained in a letter signed by the Acting President, Prof. Yemi Osinbajo and addressed to the Speaker of the House of Representatives, Hon. Yakubu Dogara and read on the floor of the House.

    The letter reads:

    “The Rt. Honourable Speaker may wish to refer to Line Items 229 and 244 of the 2016 Federal Government of Nigeria ( FGN)  Appropriation Act, which provided for a deficit of N2, 204. 742 billion and new borrowings of N1, 818.675 billion respectively.

    “The Act also provided for domestic borrowing of N1, 182.798 billion and external borrowing of N635.877 billion in Line Items 245 and 246 respectively.

    “The Rt. Honourable may also wish to note that whilst the approved domestic borrowing has been fully incurred, the N635.877 billion external borrowing has not been fully accessed.

    ” The external borrowings incurred to date consist of $600 million from the African Development  Bank and $ 1billion Eurobond from the International Capital Market ( ICM) only. Thus, based on the 2016 appropriation and applying the average exchange rate, there is headroom to access further international funds.

    “Following the high over subscription of the recent $1 billion Eurobond issuance, we wish to take advantage of favourable market conditions to issue a Eurobond Debt Instrument of $500 million to fund the implementation of the 2016 budget which is still ongoing.

    “The Rt. Homourable Speaker may wish to note that in line with the requirement of securities issuances in the ICM, a specific resolution of the National Assembly, as a firm confirmation of the approval of the legislature for the Federal Government of Nigeria to borrow the $500 million through the issuance of a Eurobond Debt Instrument in the ICM is required.”

     

     

  • Osinbanjo declines to sign four bills

    Osinbanjo declines to sign four bills

    Acting President, Professor Yemi Osinbajo has withheld  his assents to four bills passed by the National Assembly.

    The bills are Agricultural Credit Guarantee Fund, Currency Conversion Freezing orders Amendment Bill , Dangerous Drugs Amendment  Bill and National Lottery Bill .

    Senate President, Bukola Saraki announced the decision of the Acting President in a letter written to the Senate on Wednesday.

    More details

  • We won’t allow anyone hold Nigeria to ransom, says Osinbajo

    We won’t allow anyone hold Nigeria to ransom, says Osinbajo

    THE Federal Government said yesterday it would not allow anybody to hold Nigeria to ransom under any guise.
    Acting President Yemi Osinbajo, who said this, added that the government was intensifying dialogue with stakeholders in the Niger Delta with a view to addressing security challenges in the region.
    He restated the government’s commitment to making the business environment more conducive for local businesses to thrive by speeding up the process of formulation and implementation of strategies.
    Osinbajo, who spoke at the 16th edition of the National Productivity Day and conferment of National Productivity Order of Merit Award on some individuals and corporate bodies, said the government was committed to its promise on the fight against terrorism, anti-corruption and the development of the economy to create jobs.
    His words: “Boko Haram has been defeated and its members are only resorting to cowardly attacks on soft targets, killing innocent men, women and children. Despite this, the residents of Borno, Yobe and Adamawa states, including several neighbouring states, are now going about their daily business in relative safety.
    “Besides Boko Haram, a new insurgency has arisen in the form of blowing up gas and oil pipelines by groups of Niger Delta militants. This administration will not allow them to hold the country to ransom. While security is being beefed up in the areas, we shall intensify our on-going dialogue with the various stakeholders in the region.”
    Restating the Muhammadu Buhari administration’s commitment to the country and the citizenry, Osinbajo said: “We are working tirelessly and will continue to do so with hard work, diligence and honesty. Delivery may be a bit slow, but the promised change will come in no distant time.
    “Our economy is no doubt currently facing serious challenges. Before now, the economy had been purely monolithic having relied solely on oil as its major source of revenue.
    “The dwindling oil prices and the disruption in supply occasioned by the insecurity in the Niger Delta made us to realise the urgent need for diversification of our economy with emphasis on sectors that will improve employment prospects for our young people.”
    Osinbajo urged entrepreneurs to take advantage of the new opportunities to grow businesses, create jobs and wealth for themselves and the nation.
    He said: “Nigeria’s current youth unemployment crisis has been attributed to lack of job, skills and experience. I am happy to note that the inclusion of entrepreneurship education in the National Youth Service Corps (NYSC) programme enables the corps members to acquire skills in specific areas of interest.
    “This not only makes them self-reliant and employers of labour; but also prepares them for value added work life. The Federal Government through the Central Bank of Nigeria (CBN) is providing N2.5 billion facility for the Youth Entrepreneurship Development Programme (YEDP).
    “Specifically, Corps members with good business ideas and entrepreneurial skills will have access to the loan at single digit interest. It is my expectation that this programme, in addition to other ongoing interventionist programmes, will help to combat youth unemployment.”
    He listed the payment of the N5, 000 monthly allowance to one million poorest and most vulnerable citizens, the recruitment of 500,000 unemployed graduates and the proposed training for 375,000 others without degrees, as some efforts of the government to reduce unemployment.

  • Osinbajo, Saraki, Dogara attend Business Council meeting

    Acting President Yemi Osinbajo on Tuesday chaired the Presidential Enabling Business Council meeting at the Presidential Villa, Abuja.

    The closed- door meeting was attended by the Senate President, Bukola Saraki and the Speaker of the House of Representatives, Yakubu Dogara.

    Speaking with State House correspondents at the end of the meeting, Osinbajo said: “This is an expanded meeting of presidential enabling business environment council and we have had the pleasure and privilege of having the Senate president and the Speaker. The whole idea is to work together in trying to improve business environment in Nigeria.

    “We have looked at three broad areas – entry and exit of goods, entry and exit of persons into Nigeria and the whole idea of transparency and efficiency in government agencies and parastatals.

    “Of course the whole idea is to provide an environment for those who want to do business (both local and foreign) in Nigeria.

    “A lot of work has already been done, there are pieces of legislation that we are also looking forward to seeing and we have been working with the National Assembly to ensure that these pieces of legislation are passed.

    “Of course there are some improvements which we expect to see at our ports, airports, seaports, Immigrations, granting of visas and those kinds of things.”

    He said the Council has set timelines to ensure that things go on smoothly.

    “We are not just speaking about these things without necessarily tying ourselves down to specific timelines. So we are looking forward to an improved business environment in the shortest possible time,” the acting President said.

    Saraki said the presence of National Assembly members at the meeting was to emphasize the importance of the meeting.

    “It is a very good initiative. Some of the issues about addressing business environment are addressed to policies but there are some that need legislation and we have been talking about what is our own responsibility there,” he stated.

     

     

  • We won’t let anyone hold Nigeria to ransom – Osinbajo

    We won’t let anyone hold Nigeria to ransom – Osinbajo

    The Federal Government on Tuesday promised to intensify dialogue with stakeholders in the Niger Delta with a view to addressing the security challenges in the region, but said it will not allow anybody to hold the country to ransom under any guise.

    The government also said it was committed to providing a more conducive business environment for local businesses to thrive in the country and speed up the process of formulation and implementation of strategies which will help the process of doing business in Nigeria.

    Speaking at the 16th National Productivity Day celebration and the conferment of National Productivity Order of Merit Award on some individuals and corporate bodies, the Acting President, Prof. Yemi Osinbajo, said the government was committed to its promise to fight terrorism and secure the whole country, fight corruption and develop the economy in order to create jobs for the teeming unemployed Nigerians.

    He said: “Boko Haram has been defeated and is only resorting to cowardly attacks on soft targets, killing innocent men, women and children. Despite this, the residents of Borno, Yobe and Adamawa States, including several neighbouring states are now going about their daily business in relative safety.

    “Besides Boko Haram, a new insurgency has arisen in the form of blowing up gas and oil pipelines by groups of Niger Delta Militants. This administration will not allow them to hold the country to ransom. While security is being beefed up in the areas, we shall intensify our ongoing dialogue with the various stakeholders in the region.”

    While admitting that the government was moving at a slow pace, Prof. Osinbajo assured Nigerians that the Buhari administration was committed to Nigeria and the Nigerian people, saying “we are working tirelessly and will continue to do so with hard work, diligence and honesty. Delivery may be a bit slow, but the promised change will come in no distant time.

    “Our economy is no doubt currently facing serious challenges. Before now, the economy had been purely monolithic having relied solely on oil as its major source of revenue.

    “The dwindling oil prices and the disruption in supply occasioned by the insecurity in the Niger Delta have further made us realize the urgent need for diversification of our economy with emphasis on sectors that will improve employment prospects for our young people.”

    .

  • Osinbajo absent in Akure again

    Osinbajo absent in Akure again

    •Presidency: it was weather 

    Acting President Yemi Osinbajo, for the second time in four days, disappointed residents who converged on Akure, the Ondo State capital, to welcome him for the inauguration of projects executed by Governor Olusegun Mimiko.
    Osinbajo was to inaugurate the International Events Centre, otherwise known as ‘The Dome’.
    The government initially fixed last Friday for the inauguration but the Acting President was absent, owing to what his aides attributed to poor weather condition, a development which made the government rescheduled the inauguration for yesterday.
    Osinbajo, who was expected to arrive Akure Airport at 11 am, failed to show up and did not send any representative.
    He was also billed to preside over a stakeholders’ meeting organised by the Niger Delta Development Commission (NDDC).
    Guests, including politicians, government officials and traditional rulers, led by the Chairman, State Council of Traditional Rulers and the Osimawe of Ondo, Oba Victor Kiladejo, had gathered as early as 11am and waited patiently until 4pm when it became clear that the Acting President was no longer coming.
    Mimiko, who arrived the venue at 4pm, inaugurated the multi-billion naira project.
    The governor, who was accompanied by Deputy Governor Lasisi Oluboyo and other aides, did not give any reason for Osinbajo’s absence.
    It was gathered that Osinbajo’s trip was thwarted by hazy weather.
    The postings on the Twitter handle of the Senior Special Assistant on Media and Publicity, Laolu Akande, extended the apologies of the Presidency to the people of Ondo State.
    The tweet reads: “Weather conditions again prevent Ag. President Yemi Osinbajo’s scheduled visit to Akure today.
    “Sincere apologies to the government and people of Ondo State.” it added

  • Weather stops Osinbajo’s rescheduled visit to Ondo

    Weather stops Osinbajo’s rescheduled visit to Ondo

    The rescheduled trip by Acting President Yemi Osinbajo to Ondo State was again aborted on Monday by harsh and hazy weather conditions.

    The same weather conditions had prevented Osinbajo from visiting the state last Friday.

    The Senior Special Assistant on Media and Publicity to the Acting President, Laolu Akande, in a tweet apologized to the people of Ondo State on the latest development.

    “Weather conditions again prevent Ag. President Yemi Osinbajo’s scheduled visit to Akure today.

    “Sincere apologies to the government and people of Ondo State,” he tweeted.

     

     

  • Osinbajo cancels visit to Ondo again

    Osinbajo cancels visit to Ondo again

    For the second time in four days, Acting President Yemi Osinbajo cancelled his visit to Ondo State on Monday.

    No reason was giving for the cancellation.

    Osinbajo was scheduled to visit Ondo State last Friday, but bad weather at the Akure airport, which denied the presidential jet from landing, forced the event to be rescheduled to Monday.

    The presidential advanced team including the Special Adviser to the President on Niger Delta, Brig Gen Paul Boroh, had arrived the state on Friday.

    They were directed to wait in the state till Osinbajo’s arrival on Monday

    The acting President has visited some Niger Delta states recently as part of ongoing efforts to ensure lasting peace in the oil producing region.