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Tag: Speaker of the House of Representatives

  • Dogara laments impact of financial crimes, terrorism on Nigeria’s devt

    Dogara laments impact of financial crimes, terrorism on Nigeria’s devt

    The Speaker of the House of Representatives, Yakubu Dogara has lamented the negative effect of money laundering, terrorist financing and small arms proliferation on Nigeria’s developments.

    Dogara applauded the Mohammadu Buhari-led administration for initiatives so far adopted to address these challenges.

    He identified such measures to include the implementation of the Treasury Single Account (TSA) policy, the Bank Varification Number (BVN).

    The Speaker spoke in Abuja yesterday at the 28th technical session/plenary meeting of the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA).

    He said: “It is important to state that Nigeria in particular, and the Economic Community of West African States (ECOWAS) in general, are suffering the devastating effects of money laundering, terrorit finanacing and the proliferation of small and light arms as well as their predicate offences like corruption, fraud, tax evasion, amongst others.

    “It is common knowledge that when you fight crime, those who benefit from the crime fight back and they fight dirty, and even organise themselves into networks to beat the system.

    “Nonetheless, the administration of President Muhammadu Buhari has taken bold steps to restructure the institutions and strengthening of laws in order to maximise prosecution and conviction of offenders, increase recovery of stolen assets and guarantee transparent management of recovered, returned or repatriated assets, ” Dogara said.

    He hailed GIABA for its activities in Nigeria and the ECOWAS sub-region.

    GIABA is an agency of ECOWAS responsible for facilitating the adoption and implementation of Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) in West Africa. It is also a FATF-Styled Regional Body (FSRB) working with its member states to ensure compliance with international AML/CFT standards.

    GIABA’s Director General, Colonel Adama Coulibaly hailed Nigeria’s government’s commitment to tackling the scourge of financial crimes and related vices.

    Coulibaly particularly hailed the decision by the government to ensure that every bank owner in the country comply with the BVN directive as a measure for curbing money laundry and other financial crimes.

    The GIABA DG assured that the group would strengthen its technical assistance to member states so that the forthcoming second round of mutual evaluations results in substantial improvement of states’ AML/CFT regimes.

    The Director, Nigerian Financial Intelligence Unit (NFIU) and GIABA’s National Correspondent on AMTL/CFT, Francis Usani called for collaboration among Financial Intelligence Units (FIUs) and other related agencies in GIABA member states.

    This, he said would enhance the rate of success recorded by member states in the fight against money laundry, terrorist financing, trade in illicit arms, among others.

    Usani said: “I recommend that information sharing is critical for us to make any meaningful impact. We should therefore, enhance our information sharing protocols.

    “I urge us to ignore barriers that have overtime, restricted us from sharing information within ourselves freely.Let us create informal channels for information exchange especially within the GIABA forum,” Usani said.

  • Osinbajo, Tinubu, governors attend Buhari’s book presentation 

    Osinbajo, Tinubu, governors attend Buhari’s book presentation 

    Eminent personalities on Thursday attended President Muhammadu Buhari’s book’s public presentation in Abuja.

    The book  ‘Making Steady, Sustainable Progress for Nigeria’s Peace and Prosperity’, was presented to the public at the old Banquet Hall of the State House.

    It was a mid-term scorecard on the President Muhammadu Buhari administration.

    Among those that graced the public presentation of the book, that started few minutes past 12 noon, were the Vice President, Yemi Osinbajo, National Leader of the All Progressives Congress (APC), Asiwaju Bola Tinubu, who is the keynote speaker at the occasion.

    Also at the occasion was the Chairman of the occasion and the APC National Chairman, John Odigie-Oyegun and the Secretary to the Government of the Federation (SGF), Boss Mustapha.

    State governors at the event were Abiola Ajimobi (Oyo), Rauf Aragbesola (Osun), Jigawa, Ibikunle Amosun (Ogun), Darius Ishaku (Taraba), Abdulaziz Yari (Zamfara).

    Other members of the Federal Executive Council (FEC), other top government officials, members of the diplomatic corps and traditional rulers also attended.

    The Speaker of the House of Representatives, Yakubu Dogara was represented at the occasion.

    The programme was still in progress at the time of filing this report.

  • Dogara to the Nigerian military: Focus more on intelligence gathering 

    Dogara to the Nigerian military: Focus more on intelligence gathering 

    The Speaker of the House of Representatives, Yakubu Dogara, has said that for the Nigerian security forces to surmount the many security challenges confronting the country, they must change tactics and focus more on comprehensive intelligence gathering and inter-agency information sharing.

    He said inter-agency information sharing has become imperative considering daily threat to humanity by the advancement of technology and agents of violence.

    While he commended the Nigeria military for the sustenance of the nation’s democracy, the Speaker however said there is more to do by the security forces by ensuring the survival of the nation’s democracy and rescue it from the seemingly intractable spate of kidnapping and other forms of criminality.

    Dogara spoke in Abuja Monday at the annual conference for Nigerian Defence Attaches organised by the Chief of Defence Intelligence (CDI), where he noted that since democracy thrives only when lives are secure, maintenance of law and order becomes the most important function in any society.

    He said: “I believe that if we succeed in gathering effective and reliable intelligence that can be interpreted, we will always be ahead of the terrorists, of the kidnappers, and of all those who are threatening our peaceful coexistence.

    “I have always maintained that terrorism is a global problem,  and therefore, no single nation, no one nation should be left alone to deal with it.

    “And I believe that the best way we can go about it is what we are doing here; in conferences like this, building networks, effective networks, engaging with ourselves, sharing experience, that is the only way we can be ahead.

    “The most important thing in Nigeria right now, even though we are practicing democracy, is not the institution of the presidency, it is not the legislature, it is not even the judiciary but it is law and order and national security in the sense that when there is no peace and order, there can’t be a nation and we must have Nigeria first before we can talk about a Nigerian president, a Nigerian legislature and even the judiciary.

    “I want to commend the military for putting together this function and to say that being aware of our role as the first institution of our democracy, we will do everything within  the confines of our powers and within available national resources, to see that we appropriate more for the peace, order and good governance of this country, because any nation which fails to invest in security will diminish.

    “It has happened, examples are replete, so we will not fail to invest in security”.

    Saying that the contribution of the military to the development of the country’s democracy cannot be overemphasized, Dogara implored the security forces not to be deterred.

    “I want to, on behalf of members of the National Assembly and indeed, Nigerians, thank the military for the work you are doing.

    “The 21st century in particular where the entire humanity is threatened by the advancement of technology and by the threat of violence.

    “Whenever violence occurs you will see a reverse in the social order. As a matter of fact, violence even destroys civilisations.

    “I have always used the theatre of conflict in Nigeria, the North-East, as an example. Virtually everything we have achieved in that region, especially in the three states that are most affected, is completely gone.

    “So, what should be our response to violence because this is a generation that is called upon to defeat violence, otherwise, violence will defeat us and reverse our civilisation as it has happened in the North-East.

    “In most cases, I pity the military because they are always called upon at the 11th hour. In fact, sometimes at the 12th hour when everything has snowballed, crisis have happened, and casualties, that is when they are called upon,” he added.

  • Buhari meets Tinubu, Saraki, Dogara, Yari, Oyegun in Aso Rock 

    Buhari meets Tinubu, Saraki, Dogara, Yari, Oyegun in Aso Rock 

    President Muhammadu Buhari on Monday met with some top leaders of the All Progressives Congress (APC) at the State House, Abuja.

    Those he met briefly with included the Senate President, Bukola Saraki, Speaker of the House of Representatives, Yakubu Dogara.

    Also at the meeting are the Chairman of the Nigerian Governors Forum (NGF) and Zamfara State Governor, Abdulaziz Yari and the National Chairman of the APC, John Odigie-Oyegun.

    At the end of the meeting, they declined to speak on the purpose of the meeting.

    As soon as the meeting ended, the President and the National Leader of the APC, Asiwaju Ahmed Tinubu also started another meeting around 3:28p.m

    The second meeting was still in progress at the time of filing this report.

  • Nigeria needs 50,000 Seafarers in maritime industry – Dogara

    Nigeria needs 50,000 Seafarers in maritime industry – Dogara

    …As House moves to establish Nigerian Maritime University

     

    The Nigerian Maritime sector needs 50,000 seafarers to achieve its full potentials, the Speaker of the House of Representatives, Hon. Yakubu Dogara has said.

    The Speaker made the remark yesterday at the Public Hearing on two Bills, namely: A Bill For An Act To Establish The Nigeria Maritime University, Okerenkoko In Delta State And For Other Related Matters (HB. 1032)” and “A Bill For An Act To Establish The Maritime University, Oron Akwa Ibom State And To Make Comprehensive Provisions For Its Management And Administration And Other Related Matters.”

    His words: “Maritime Sector is key in achieving the Federal government’s Economic Recovery and Growth Plan that was launched in March this year 2017. Availability of requisite trained manpower in sufficient numbers is key to the growth and sustenance of Nigeria’s maritime sector.

    “From Nigeria Maritime Administration and Safety Agency (NIMASA) records, Nigeria needs about 50,000 Seafarers for the Nigerian Shipping Industry to realize its full potentials. As at 2009, Nigeria had less than 3,000 Seafarers.

    “The National Assembly in 2003 enacted the Cabotage Act to ensure the participation of our Nationals in domestic Shipping (Coastal and Inland) by reserving crewing to only Nigerians. Over time, however, there has been shortage of manpower and persons with requisite skills and training to meet the desired expectations of Cabotage.

    “In an effort to fill this gap, government initiated a program; Nigeria Seafarers Development Program (NSDP) through the Nigeria Maritime Administration and Safety Agency (NIMASA). This program entails sending out Nigerians to study maritime courses such as Nautical Science, Naval Architecture and Marine Engineering in foreign Universities. This has resulted in the government spending huge sums of money in foreign currency, which is very scarce.

    “The purpose of these two Bills aforementioned above therefore is to fill the gap in the manpower requirements of the maritime sector. The proposed Nigeria Maritime University to be located in Okerenkoko Warri, Delta State is a brand new school which intends to provide maritime academic training, facilities and indeed infrastructure as required by the International Maritime Organization (IMOs) under STCW Conventions.

    “For the Maritime University, Oron Akwa Ibom State, the Bill seeks to upgrade the existing Maritime Academy of Nigeria, (MAN) Oron to a degree awarding institution. This initiative will at the same time provide upgraded facilities and teaching aids as required by IMOs STCW Convention (The International Convention on Standards of Training, Certification and Watchkeeping for Seafarers) 1978 which sets qualification standards for Masters, Officers and Watch Personnel on seagoing merchant ships. ”

    Dogara who said the Convention was significantly amended in 1995 and 2010 noted that the global maritime economy has become increasingly knowledge driven, necessitating the production of local high level professionals to meet the challenges.

    “Nigeria is a potential maritime power considering our access to limitless maritime resources and waterways, with about 850 km Coastline on the Atlantic Ocean that connects some of the World’s richest economies, and over 3000 km Inland navigable waterways.

    “Yet there is no specialized university offering relevant courses at a university level in maritime studies and Engineering, even though Nigeria has about 130 Universities.”

  • Restructuring: Only N/Assembly has the power – Dogara

    Restructuring: Only N/Assembly has the power – Dogara

    …APC True Federalism’s report ready October Ending- El-Rufai

     

    Only the National Assembly has the power to restructure the country, the Speaker of the House of Representatives, Hon. Yakubu Dogara said Tuesday.

    According to Dogara the Legislature is the only institution mandated to enact laws for the country and the President as the head of the Executive is to implement the laws made by the National Assembly.

    Dogara who spoke during a courtesy call by the Nasir El-Rufai led All Progressives Congress, APC Committee on True Federalism said that in spite of the powers of the President,

    This was as El- Rufai disclosed that his committee’s report would be submitted to the party by the end of October.

    El- Rufai told the House Leadership that their visit is to brief the House on the details of their assignment.

    The Speaker said in line with the powers conferred on it by the constitution, the House has gone ahead to constitute a Committee to address the issue of political agitations in the country.

    The committee, he said, is non- partisan and necessary to douse tension in the country and in line with the statements of the President that only the National Assembly has a solution to the agitations of the people across the country.

    His words: “When the President talked about the National Assembly being the proper forum for this discussion, so many people objected to that. Even some senior advocates who think that the President could just sit and restructure the country.  But I know the President uses green pen not a red pen that I use.  I don’t know whether by any stroke of imagination or margin a green pen can actually restructure Nigeria.

    “If that is the case it is a very simple thing that can be done, but unfortunately, most of the things that we talked about, most of the issues that are being raised are there in the foundational document of this country, the grand norm which is the Constitution.

    “And even going by elementary description of the departments of governments,  the Executive cannot make laws, they cannot tinker with the provision of the Constitution.  It is the National Assembly that must do that.

    “I guess even if the President has powers, his powers would just amount to recommendations in the form of an executive bill which he can send to the National Assembly for constitutional alteration or amendment in other to address the fundamental basis of some of these agitations.

    ” I concur with him totally that this is the right forum where the outcomes of those debates would be channeled for processing and for action. I know that we won’t let this country down when it comes to performing our responsibilities because this is the institution that represents the people.”

    The Chairman of APC Committee, El-Rufai in his remarks noted that restructuring was part of the APC manifesto adding that there were unbalances in the federation structurally and politically.

    While agreeing that the House did the right thing by nominating members into the committee on political agitations, he said the Senate is expected to do same and that the Senate President had been written by his committee in that regard.

    Submissions, he said, had already been made to the State Houses of Assembly and that other steps had been taken in a bid to achieve success in the committee’s assignment.

    His words: “We are here as the APC committee on federalism to pay you a courtesy call and give you a brief background on the assignment the party has entrusted on us.

    “The APC in its manifesto made very firm commitment towards devolution of power true federalism which is variously referred to restructuring as so on. However, because of other challenges, the administration had to deal with on assumption of office, the expeditious implementation of some of these commitments has not occurred.

    “I am proud to say that the National Assembly led by APC went ahead with the constitutional amendment to make our federation be better balanced. We all recognized there is some imbalance in our federation. This is why our party is committed to do something about it. However, it is better late than never.

    “We have already taken steps which are now before the State Houses of Assembly. We believe in the history of Nigeria, there has never been a comprehensive discussion on what is before us: federalism, restructuring and so on. We also believe even the debate and discussions in previous national conference has excluded key stakeholders particularly our young people that account for 80% of our population.

    “We believe ultimately that as a democratic government, the voice of the people is the voice of God and we must listen to them. We must not presume just because we are elected, just because we are leaders that we know what the country needs.

    “As articulated by our leader, President Muhammadu Buhari whatever discussion we have about federalism, restructuring will have no value unless the national assembly enacts whatever the people of Nigeria say they want. So, this hallowed chambers give all the power to make federalism work better.

    “The purpose of our committee is to merely collect and collate the views of Nigerians particularly young people and other vulnerable people and present to the party”, El-Rufai.

    “The Confab report of 2014  as well as the one of 2005 are some of the documents that were looking at in the committee. We plan to submit our report at the end of October. Our report would be to the party, but of course, since National Assembly members are in the committee, they’ll also have copies,” El- Rufai said.

  • Dogara finally Swears in Hembe’s replacement

    Dogara finally Swears in Hembe’s replacement

    Finally, the House of Representatives swore  in the replacement for the sacked member representing Vandeikya/Konshisha federal constituency of Benue state, Herman Hembe Tuesday.

    Dorothy Mato was sworn in at plenary by the Speaker of the House of Representatives, Hon. Yakubu Dogara.

    Her supporters could be seen in the gallery in an apparently happy mood.

    Hembe, who was chairman of House Committee on FCT had been sacked by the Supreme Court in June 23 this year for not being the proper candidate of the All Progressives Party, APC for the last National Assembly election in Benue State.

    He was asked to immediately vacate his seat and refund all renumeration that had accrued to him since he was in the House.

    The Apex Court ordered INEC to immediately withdraw the certificate of return issued to Hembe and issue same to Mato; and ordered the Speaker of the House to swear- in Mato as Hembe’s replacement.

    But Hembe in a surprise twist, had filed a motion on notice dated 18, 2017, in the Supreme Court asking the Court to reverse the judgement.

    According to him, the judgement was done “In error arising from an accidental slip.”

    But the Chief Justice of Nigeria (CJN) Justice Walter Onnoghen in a September 20 ruling on the issue insisted that the court being the Apex court of the land cannot reverse itself.

    The Supreme Court had also expressed displeasure over the reluctance of the leadership of the House to swear in Mrs. Dorothy Mato as Hembe’s replacement since it gave a judgement to that effect on June 23, 2017.

    The Chief Justice of Nigeria (CJN) Justice Walter Onnoghen, also expressed the disappointment of the Court with the attitude of the House leadership over the Mato ruling.

    He described the reluctance of the House to abide with the ruling as ” a very terrible paragraph in the history of the nation’s democracy.”

    Mato was sworn in yesterday over three months after the ruling of the Supreme Court.

  • Pension: FG, stakeholders faults bill seeking to exempt paramilitary personnel

    Pension: FG, stakeholders faults bill seeking to exempt paramilitary personnel

    The Federal government has opposed the exclusion personnel of paramilitary services from the Contributory Pension Scheme (CPS) as proposed by a bill in the House of Representatives.

    The government balked at the proposal of being responsible for the pension liabilities of personnel of anti-graft agencies and para-military services.

    For emphasis, the Federal Government has issued a White paper prohibiting all Ministries, Departments and Agencies (MDA) as well as paramilitary from pulling out of the CPS to Defined Benefit Scheme (DBS), it was revealed.

    The Speaker of the House of Representatives, Yakubu Dogara and others stakeholders Thursday at a public hearing on two pension-related bills warned  that to erode the gains of CPS that has over N6.4 trillion in its pool would attract avoidable consequences.

    One of the bill seeks to amend Pension Reform Act, 2014, to exclude/exempt personnel of various paramilitary and anti-graft agencies from CPS, while the other was  for an Act to amend the provisions of the Pension Reform Act, to reposition the contributory pension scheme for effective service delivery.

    If the exemption bill, sponsored by Oluwole Oke, who is also Chairman, House Committee on Public Procurement is passed into law, the Federal Government will take responsibility for the payment of 100 percent pension for personnel of Nigeria Police Force; Security & Civil Defence Corps; the Nigeria Customs Service; Nigeria Prisons Service; Nigeria Immigration Service; Economic & Financial Crimes Commission; Independent Corrupt Practices Commission; Nigeria Drug Law Enforcement Agency.

    In his presentation, Roy Ogor, from Office of the Secretary to Government of the Federation (OSGF), who spoke on behalf of Federal Government, noted that provisions of the exemption bill is not in the interest of a sustainable pension programme for the country.

    Saying that the bill should be discarded, Ogor opined that the National Assembly should not encourage legislations that would further compound the socio-economic challenges facing the country.

    According to him, the Federal government would prefer the lawmakers strengthen the Pension Reform Act that has provision for increase in pension contribution by employers rather than the proposed amendment which seeks to exempt paramilitary personnel.

    While he stressed that the government is only desirous of maintaining the extant arrangement, Ogor said public and private employers should be encouraged to meet their 18 percent pension obligations as provided in Pension Reform Act, 2014.

    He however complained that public and private employers are currently struggling to comply with the current contribution of 18 percent as the lingering economic recession affect both public and private employers.

    Nigerian Employers Consultative Association (NECA) advocated for introduction of ‘closed pension scheme’ for the paramilitary rather than outright exemption which he noted is detrimental to the well-being of the personnel of various paramilitary agencies.

    According to NECA, the implementation of the DBS as proposed by the bill would be jeopardized as government cannot afford to wholly fund the pension of the paramilitary personnel due to inadequate funding.

    The National Insurance Commission (NAICOM), the adviser to Federal Government on insurance matters, disclosed that the CPS has paid N180b annuity as at March 2017 thereby deepening the development of insurance in the country.

    Earlier, Speaker Dogara warned against any attempt to destroy the legacy achieved through the contributory pension scheme.

    Represented by the Chief Whip, Ado Doguwa, the Speaker said, “We are conscious of the fact that the pension industry has become a crucial sector that is playing a formidable role towards the development of the economy in terms of availability of huge investment funds of about N6.4 trillion provided by the scheme that could be deployed both in the real sector as well as in the capital market sector.

    “Furthermore, the role effective pension administration plays in the general well-being of the pensioners cannot be over-emphasised and we as a parliament will always ensure that the efforts of those that labored for the fatherland will always be appreciated through regular and timely payment of pensions and gratuities.

    “Any bill therefore that can improve both ends of the sector, that is, the pensioners’ wellbeing as well as the administration of the funds will always be favourably considered by the House.”

     

  • Spending N5b on generators annually is unacceptable -Dogara

    Spending N5b on generators annually is unacceptable -Dogara

    …as Fashola backs Renewable Energy Fund

     

    The Speaker of the House of Representatives, Yakubu Dogara has decried the power situation in the country despite the humongous investments made into the sector by the government over the years.

    According to him, it was the pathetic power situation that has forced Nigerians into committing N5b annually on procurement of generator set.

    While he described the situation as unacceptable, the Speaker pledged the resolve of the House to work with the Executive towards finding a permanent solution to the power generation and distribution challenges in the country.

    Towards this end, he disclosed that the House is reviewing some of Nigeria’s energy laws in order to provide an appropriate legal framework that will facilitate the exploitation of renewable energy to the benefit the Nigerian economy.

    The Speaker, who spoke Tuesday during a public hearing on three power sector reform Bills said, “Power is arguably the single most important driver of the national economy. Our industries and factories need electricity to run; and so do our offices, homes and businesses.

    “It is estimated that Nigerians spend about $5 billion US Dollars yearly to fuel their generators. This is an unacceptable situation and the House of Representatives stands ready to support the Executive arm of government to put a stop to this state of affairs.

    “We can only be self-sufficient in the energy field when we combine all of our energy resources such as wind, solar, hydro, biomass, bio-fuel, landfill, sewage gas, solid waste, geothermal energy, ocean energy etc.

    “Renewable energy sources are natural and often replenishes itself. Nigeria needs to invest more in renewable energy as fossil fuel is a diminishing asset.

    “An appropriate legal framework to exploit renewable energy which is nature’s gift to mankind is not adequate in Nigeria. This makes it difficult to organise the sector in a commercially viable matter. Herein lies the merit and strength of this Bill under consideration”.

    Minister of Power, Works and Housing, Babatunde Fashola aligned with the proposed establishment of Renewable Energy Fund in Nigeria, saying there is a need for holistic review of the legislative frameworks governing the power industry.

    Represented by Louis Edozien, Permanent Secretary of Federal Ministry Power, the Minister however submitted that the fund be used as equity participation in renewable energy projects, and should exclude the Commission as a player, which regulates the sector.

    He also proposed that the fund should be managed by the NERC not Board, in addition to allowing the Commission to determine the remuneration of its staff as a technical and institutional monitor of the power value chain.

    “There is no doubt that establishment of a dedicated fund to renewable energy us a sound and pragmatic policy. It is however important, in our view, to critically review the provisions relating to the operation of the Fund as provided in the bill,” Fashola said.

    On the amendment of the 12 year old Power Sector Act, Fashola said the Act was able to trigger transformation of the Nigerian power sector from a State monopoly to competitive electricity market.

    “What is needed to ensure that the Act continues to provide an enabling legal framework for the power sector is holistic review.

    “This is a review that will take into consideration the effectiveness, or otherwise of extant provisions in the light of our experience in the last one decade.

    “Any amendment of the Act at this stage ought to take into consideration lessons learnt and challengers encountered in the course of implementing the provisions of the Act.

    “The amendment is also expected to address some fundamental issues that are militating against the power value-chain.

    “It is also important that the provisions that will be introduced will assist to strenghtem the framework for power sector reform.

    “For all the foregoing reasons and in order to ensure that maximum traction is gained from an amendment of the EPSRA, it is our humble position that we use the opportunity of this present bill to consider an exhaustive review of the bill”.

    According to him, the privatization of Power Holding Company of Nigeria (PHCN) was triggered by the enactment of Electricity Power Sector Reform Act which was completed in 2013.

    He said: “Power generation and distribution are no longer ‘public utilities’ in the strictest sense. On the contrary, power generation and power distribution are now largely in the hands of private sector investors.

    The object of the bill may not therefore be defeated if its focus is ‘public utility’.

    “In order words, the Commission is already empowered by the National Assembly to regulate and develop necessary framework for renewable energy in Nigeria.

    “It is my understanding that it is in furtherance of this power that the commission issued its regulations on feed-in tariff for renewable energy sourced electricity in Nigeria.

    “It is important to point out that the objective of this regulation is to develop, promote and harness the renewable energy resources of the country and incorporate all viable ones into the national energy mix.

    “As the House may be aware, the current national renewable energy and energy efficiency policy targets for 30 percent of all generation to come from renewable energy by 2030.”

    In its presentation, Nigerian Electricity Regulatory Commission (NERC) noted that the Commission is duty bound to publish its audited account, in two national dailies without the mandate of the Minister.

    While the Commission opposed the establishment of another agency, it proposed upward review of penalty from N20,000 to N500,000 for failing to publish the audited accounts.

    The Commission also stated that cooperation of State governments was required in its investigation of the recurring accident in the power sector as a preventive measure.

  • Osinbajo seeks Reps’ approval for $1.5b external loan for 10 states

    Osinbajo seeks Reps’ approval for $1.5b external loan for 10 states

    The House of Representatives is set to consider the approval of $1.5b external loan for 10 states.

    The states are Abia, Ebonyi, Enugu, Jigawa, Kaduna, Kano, Katsina, Plateau, Ogun and Ondo.

    The loan request presented to the Speaker of the House of Representatives, Yakubu Dogara by the Acting President was meant infrastructural development for the affected states.

    In the letters dated 25th May, 2017, he stated that the request was in tune with the 2016-2018 External Borrowing Plan earlier approved by the National Assembly.

    Osinbajo stated that the total loans being presented for special consideration and approval is US$1,492,400,000.00.

    While soliciting for the approval of the House, he added, “It will be highly appreciated if you could kindly give this request an expedited consideration and approval to enable the states meet up with all other effectiveness conditions for implementation of the projects in their respective states”.

    The breakdown showed that Kaduna is seeking $350m from World Bank; Ogun, $350m (World Bank); Ebonyi, $70m (AfDB); Abia, $100m (AfDB); Katsina, $110m (Islamic Development Bank), Jigawa, $32.4m (Islamic Development Bank); Ebonyi, $80m (Islamic Development Bank); and Kano, $200m.

    Enugu, Kano, Plateau and Ondo loan requests totaled $200m from French Development Agency.