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Tag: Vice President Yemi Osinbajo

  • Osinbajo, Amosun meet in Aso Rock 

    Vice President Yemi Osinbajo on Thursday evening met behind closed doors with Ogun State Governor, Ibikunle Amosun at the Presidential Villa, Abuja.

    The meeting started around 6.10pm when Amosun arrived the Vice President’s office.

    Read Also:Osinbajo restates Nigeria’s commitment to human capital development

    Amosun was part of the nine All Progressives Congress (APC) governors that met President Muhammadu Buhari earlier in the day over faulty primary elections in their states.

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

    Details Later…

  • Osinbajo restates Nigeria’s commitment to human capital development

    Vice President Yemi Osinbajo on Wednesday night said that the Nigerian government will continue to drive initiatives to get more Nigerians out of poverty and improve the country’s Human Capital Development indices.

    He made the remark during a meeting of the National Economic Council’s Human Capital Development Core Working Group at the Presidential Villa, Abuja.

    The meeting covered a presentation on Prioritizing and Improving the Human Capital Development base in Nigeria.

    Read Also:We need creative ways of tackling poverty-Osinbajo

    Osinbajo said government was committed to driving initiatives to accelerate human capital development in the country, because “lifting our people out of poverty is a crucial agenda towards attaining intended developmental outcomes.”

    He said “Poverty as we know is both a cause and consequence of some of what we are looking at in our human capital development deficit. Really, I think we need to focus a lot more on some of the more creative ways of getting our people out of poverty.

    “And of course, we have some social investment programmes, we are looking at some of the examples of what India did, some have been tried and tested in such huge populations.

    “I think there is a need for us to sensitize our people to why it is that we need to get a large segment of our people out of poverty. Recently, we’ve been launching the TraderMoni scheme, which is basically giving credits to petty traders across the country in the markets and all that.

    “We must do even more in terms of giving credits and whatever assistance and support to people, obviously the more money people have, the better it is for them, so they can apply their little resources to some of what we are expected to do to improve human capital development.” he said

    Osinbajo also highlighted the importance of improving data collection at all levels so as to ensure effective tracking of Human Capital Development outcome areas in the states.

    Speaking with State House correspondents at the end of the meeting, Nigerian industrialist, Alhaji Aliko Dangote, who is a member of the committee, called on the private sector to support government in driving human capital development in Nigeria.

    He said: “Why I joined the committee is to make sure that we have targets and we meet those targets.

    “But I also think that health, education and empowerment should not be seen as government jobs.  It should also be private sector job.  Unless we make this place work, even our own businesses are at risk.

    “All of us need to support government to make sure that these things are done properly.

    “It’s not something that you will sit down and say government is not doing well.

    “It is like clapping; you cannot clap with one hand. So, unless private sector also joins, these things would not be done.” he added

    Dangote also advised the federal government to empower the states and the local governments to enable them to implement policies developed for the development of human capital.

    According to him, the Dangote Foundation has committed over $50million dollars to fight malnutrition in most of the states that are affected.

    “Most of the states that have problems with primary healthcare, polio and routine immunization, we are actually funding 70% of their budget and they are funding 30%,” he stated.

    Kaduna State Governor Nasir El-Rufai, who represented North West at the meeting, said the Steering Committee received a presentation on the framework for further investments in the key areas of health, education, social inclusion as well as empowerment.

    “We had a very good meeting and we hope that the outcome of the meeting and the work of the core working group will bring out very clear plans and strategies to invest more in education, healthcare, nutrition, empowerment, gender inclusion as well as job creation for our young people.”

    The Minister of Health, Prof. Isaac Adewole, said the working group was looking at how to make Nigerians live longer and better; and how to improve skills their skills.

    Adewole said there was renewed commitment from both the federal government and the states towards the development of human capital.

    Membership of the Steering Committee, which is chaired by the Vice President, comprises the ministers of finance; budget and national planning; education, health and labour.

    Six governors, one representing each of the geo-political zones; development partners such as the World Bank, DFID, Bill and Melinda Gates Foundation, Dangote Foundation are also members of the group.

  • 14 ministers present as Osinbajo chairs FEC 

    The Council chamber of the Presidential Villa was scanty on Wednesday when Vice President Yemi Osinbajo chaired the weekly Federal Executive Council (FEC) meeting.

    Only fourteen ministers were in the Council chamber when Osinbajo kick stated the meeting with the rendition of the National anthem at 11 a.m.

    Read Also:FEC okays digital identity ecosystem roadmap

    Six ministers, according to a statement by the Special Adviser on Media and publicity, Femi Adesina, had travelled with President Muhammadu Buhari to the ongoing United Nations General Assembly in New York.

    Those present during the opening national anthem rendition on Wednesday included Minister of Agriculture, Minister of State for Agriculture, Minister of Defence.

    Others are Minister of Communication, Minister of FCT, Minister of State for Health, Minister of Labour and Minister of State for Labour.

    Also in the Council Chamber were Minister of State for Niger Delta Affairs, Minister of State for Petroleum Resources, Minister of State for Power, Works and Housing, Minister of State forr Mines and Steel, Minister of Transportation, and Minister of Water Resources.

    Opening Muslim prayer was said by the Minister of FCT, Mohammed Bello, while the Christian opening prayer was offered by the Minister of State for Agriculture, Heineken Lokpobiri.

  • Osinbajo to Young aspirants: Nigeria’s future depends on you

    Vice President Yemi Osinbajo has commended Nigeria’s youths for their desire to contribute to nation building in their various constituencies through active involvement in politics.

    He also called on them to make the needed sacrifices to ensure the ideals they want to see in the country are realised.

    Read Also:How to stop illicit financial flow, by Osinbajo

    Prof. Osinbajo said this on Wednesday night during a meeting with young aspirants under the All Progressives Congress (APC) at the Presidential Villa, Abuja.

    Noting that the country’s future depends on the commitment of young people who are willing to play their part and make positive differences, the Vice President said that it was important to encourage young people to participate at all levels of the party.

    He said, “I also want to say that your courage is exceptional. If you aspire to be anything in a country of about 200 million people, you are a courageous person, no question about that, because when you count the number of people who hold elective offices in this country, they are very few when compared to the population.

    “So, what you are searching for is really coveted, and is not a walk in the park. I really salute your courage,” he said.

    Osinbajo then congratulated the aspirants for having gone this far in the game.

    “That you are not just sitting down at home, not just getting upset with yourself on Social Media. You are putting your money, resources and your time where your mouth is. So, consider yourself in very exceptional company.

    “This is a group of people who have not lost hope, but are very determined to ensure that things work.”

    Prof Osinbajo said that young people should not lose hope in the country as things would continue to change for the better if they remain committed to the ideals.

    He said, “I strongly believe that the future of our party depends on people who are committed to see that we build a party that is based on ideals that you and I think are important.

    “As a young person, I belonged to several pressure groups. I graduated at the age of 21. And when I graduated, I began to participate in various pressure groups, human rights organisations, anti-corruption, civil society groups of every kind.

    “When political parties started forming, we could not aspire, but we remained involved. My first involvement in government was when I was appointed as Attorney General in Lagos State.

    “For seven years – after serving as Lagos Attorney-General – I was part of the party, I did not have a board appointment or anything, but I kept working for the party. I kept working for the party as a lawyer.

    “Most of those cases we were not paid a dime. But we went from place to place. Sometimes we didn’t even have a place to stay when we went to court the next morning. So, there is a measure of paying the price, it depends on how serious or committed we are to some of the things we say we are committed to,” he said.

    Prof. Osinbajo further called on young people to stay committed and remain within the party to help to build the party structures.

    “I believe that, in party politics, we must go beyond positions, whether elective or appointed, but we must be committed to something, the principles and beliefs of those who are the forebears of that party,” he said.

    The Vice President added, “We are in a place where we are the ones who can make the difference. Nothing is going to change overnight, but we can make efforts to change the process. We can do a lot more, but it depends on our commitment.

    “I like the idea of young people getting a quota in the party structure to run for office on some level, such as the state houses of Assembly.”

    Some of the aspirants had earlier raised the issue of allowing quotas to young people in elective offices.

    According to Osinbajo, “It is up to us to fight at every stage to see the ideals that we desire; we will win, in the end, if we are consistent.  Our party is stronger if our young people are determined to make a change and a difference, even from within. We would see what can be done to ensure that women and youths are more involved in party politics.”

    Young aspirants in the APC across the country who attended the forum last night had requested for audience with the Vice President ahead of the party primaries later this month.

     

  • How to stop illicit financial flows, by Osinbajo, others

    Vice President Yemi Osinbajo and Foreign Affairs Minister Geoffrey Onyema Tuesday said illicit financial flows from Africa cannot be stopped without global outrage against it.

    According to them, it will require international collaboration to block safe havens for looted funds and make asset recovery easier.

    Osinbajo believes there was the need to scale up the political will stop illicit financial flows at the domestic, continental and international levels.

    Read Also:IBB’s ally tackles Osinbajo over comment

    For Onyeama, countries that refuse to return stolen assets to their legitimate owners are as guilty as those who stole them.

    They spoke in Abuja at the second “International Conference on Combating Illicit Financial Flows (IFF) and Enhancing Asset Recovery (AR) for Sustainable Development (Second Abuja IFF/AR)”.

    It was organised by the Presidential Advisory Committee Against Corruption (PACAC) in collaboration with the African Union (AU), Ministry of Foreign Affairs, Federal Inland Revenue Service (FIRS) and the Federal Ministry of Justice.

    According to Osinbajo, who was represented by Special Adviser to the President on Economic Matters Dr Yemi Dipeolu, it will require global outrage to stem illicit financial flows.

    He said: “I repeat the call I made last year that illicit financial flows should attract the same level of global outrage that the world has for drug trafficking, human trafficking and terrorist financing.

    “We must recognise that progress in the fight against illicit financial flows requires that we focus on tackling cross border flows of corrupt and criminal activities as well as the ways and means by which they are facilitated. This will require collaboration and exchange of information amongst countries.”

    Osinbajo said the recovery of $321million stolen from Nigeria and hidden in Switzerland was a good example of how political will and international cooperation can lead to asset recovery.

    “Ultimately, our effort to stem illicit financial flows will depend on our domestic capacity to prevent and repatriate IFFs and to bring about desired development outcomes.

    “African countries will need to find the resources to establish the relevant architecture for tackling illicit financial flows, including by establishing and/or strengthening revenue authorities, transfer pricing units, customs services, anti-corruption agencies, financial intelligence units, and the like.

    “The task also requires accurate data and up-to-date information as well as effective regulatory, legislative and institutional frameworks.

    “It also means acquiring and training personnel who understand the complexities of illicit financial flows and who can carry out the required oversight of functions that are needed to stem illicit financial flows.

    “Above all, we must remain committed to using the resources acquired from blocking illicit financial flows or data recovered therefrom for promoting development and advancing the interest and welfare of our people, including by achieving the sustainable development goals,” Osinbajo said.

    The Vice President reiterated the Federal Government’s commitment to tackling illicit financial flows that happen through tax evasion, money laundering, smuggling and other acts of corruption.

    “We’re fully conscious that this requires transparency, financial probity and the upholding of due process in public procurement, amongst other things.

    “We reaffirm our commitment to taking the necessary measures in this regard, including by working in cooperation and collaboration with regional bodies like the African Union, and international partners as well,” Osinbajo said.

    Onyeama said political leaders must be held to account for the persistence of illicit financial flows despite all talks about tackling it.

    He described as mind-boggling the difficulties faced in the restitution and recovery of assets from foreign countries to developing countries.

    He said while powerful countries like the United States, Germany and France were able to force Switzerland to review its banking secrecy provisions and help identify their citizens who were transferring money there, developing countries lack such clout.

    “For developing countries as ourselves, it’s so much more difficult – the kind of hurdles that we have to overcome.

    “Large sums of money have been found in Jersey, for instance, and other countries are laying claim to it, because in getting to Jersey, it passed through different jurisdictions. We haven’t been able to get the money back.

    “We got some money back from Switzerland, but my God! When you look at the details, I was shocked and extremely angry at the process of recovery. Percentages were paid out to all kinds of institutions.

    “To me, this is daylight robbery that these countries are perpetrating, and of course playing on the fact that we’re not the United States.

    “So, it’s something we keep harping on, that these countries have to do a lot more, because at the end of the day, they are condoning huge theft and are accessories after the fact in fact.

    “If you’re making it difficult for legitimate owners to recover those assets, and then you allow your institutions and others take huge chunks from that asset for your own benefit, then you’re just as guilty of theft as those that transferred the money in the first place. This is totally unacceptable and totally immoral,” Onyeama said

    PACAC member Prof Femi Odekunle, who represented the chairman Prof Itse Sagay (SAN), said there was the need to tackle weak and compromised regulatory structures, poor governance structures and reckless tax incentives that encourage illicit financial flows.

    He said the government must not compromise on its regulatory standards even while seeking foreign investments, because, according to him, “you cannot worship a cow because you want to eat meat”.

    “One ultimate goal of combating illicit financial flows is to help countries mobilise domestic resources to finance their development goals. We cannot hope to achieve sustainable development goals without addressing the problem of illicit financial flows,” Odekunle said.

  • Osinbajo launches Patient Bill of Rights

    …Says healthcare delivery goes beyond funding

     

     

    Vice President Yemi Osinbajo on Tuesday launched the Patient Bill of Rights noting that Nigeria’s quest to attain universal health coverage goes beyond funding.

    He also called on stakeholders to join hands with government to deliver quality healthcare to the people.

    He spoke at the launching ceremony held at the old Banquet Hall of the Presidential Villa, Abuja.

    Read Also:Leadership lessons for Osinbajo’s critics

    He said “Indeed, healthcare is not merely about what we, as government, put into it in terms of funding, equipment and so on, it is also about what the patient perceives that he or she is getting out of it. I would in fact argue that the latter matters more than the former,” Osinbajo said at the event, organized by the Consumer Protection Council, CPC.

    He said government has demonstrated its commitment to universal health coverage by allocating, for the first time in Nigeria, 1% of the Consolidated Revenue Fund towards the funding of key health initiatives, in compliance with the National Health Act in the 2018 Budget.

    According to him, the Patients’ Bill of Rights would complement government’s policy and funding interventions.

    “It will ensure that the increasing funding that is coming into healthcare in Nigeria translates into a direct improvement in the quality of the final output at what one might call the ‘last mile’ phase of healthcare delivery, the very personal arena of interaction between health personnel and the beneficiaries of the healthcare,” he said.

    On human dignity, the Vice president said that there was need to preserve human dignity even as a patient receives quality health-care.

    “While of course the ultimate goal is to ensure the patient stays alive and in good health, it is just as important that the journey to the realization of that final goal is underpinned by the full preservation of human dignity. Indeed, the foundational ethos of the medical profession, embodied by the service charter that is the Hippocratic Oath, or its modern iteration, the Declaration of Geneva, fully recognizes the pre-eminence of patient comfort and dignity.

    “I would go on to argue that this deference to the supremacy of human dignity is the responsibility not only of medical personnel, but of everyone in the healthcare value chain: government, regulators, insurer, administrator, family and/or primary caregiver, and even the final consumer.”

    He described the Patients’ Bill of Rights as a remarkable effort at consensus and common purpose, in the face of the many challenges of healthcare in Nigeria.

    “It cuts out noise and distractions, and focuses on what is truly most important: putting people first. It serves as a code of accountability, constantly reminding us of the primary purpose of the healthcare system, and of the obligations of every player and stakeholder in that system. It helps clarify consumers’ expectations of providers, and providers’ responsibilities to consumers.”

    While commending all those who worked out the Patients’ Bill of Rights, he called for compliance with the bill.

    “Our aim must be to develop a standard worthy of emulation, by ensuring strict compliance with and enforcement of the Patients’ Bill of Rights. We must hold ourselves, professionals and patients accountable to the rights this document enunciates, and when we see others who should, but do not, we must insist that they do.

    “It is my fervent hope that this synergy between policy, professionals, regulators, and other vital components such as insurers, and which has produced this Patients’ Bill of Rights, will translate into new standards of quality, equity and dignity in the patient experience in Nigeria. The pre-eminent human right is the right to life.

    “But the right to life is a hollow platitude where life itself is without respect for the dignity of the individual. The Patients’ Bill of Right is the bridge of dignity that links the right to life and minimum standards of healthcare that all of us deserve just by being human beings.

    “In every step we take to improve the way our people are treated, we are individually and collectively ennobled. Respect for the dignity of one patient dignifies us all.
    I thank you for listening.” he said

    Also speaking, Minister of Health, Professor Isaac Adewole, advised health-care providers to “stop playing god.”

    “The right of the patient must be protected while at the same time the right of the providers must be guaranteed.” he said

    He said the expectation of government was that the PBoR would further help in the resolve to achieve Universal Health Coverage through strengthened health-care delivery system, building synergy between the service provider and the patient, improving patient’s understanding of health procedures and technologies and improvement of patient’s safety and quality of care.

    Adewole also spoke on monitoring of standards of practice both in the private and public sector, ensuring that the need of the vulnerable and marginalized groups are met and that they are treated equitably as well as the need to build trust and confidence between health care providers and patients.

    In his opening remarks, the Director-General of CPC, Mr. Babatunde Irukera, said the “PBoR is our boldest step yet in soft infrastructure in health care.”

    He said it was the vital vehicle upon which, even physical infrastructure must ride to truly deliver service.

     

  • Steps that ended Niger Delta militancy, IPOB secessionist plot – Osinbajo

    …Nigeria’s foundation deficient, threatened, say Monarchs

     

     

    The Vice President Yemi Osinbajo on Wednesday said that the intervention by traditional rulers at the wake of bombing of oil installations by the Niger Delta militants and the secessionist uprising in the South East was the panacea that brought relative peace in the two regions.

    He spoke in Abuja while declaring open the 10th National Development Summit of Nigerian Traditional Rulers.

    According to him, the natural rulers have played crucial roles at the point that the country was threatened by the Niger Delta militants and the separatist group, Indigenous People of Biafra, IPOB.

    Read Also:FG to assist, compensate victims of Jibia flooding – Osinbajo

    He challenged traditional rulers in Nigeria to take greater responsibility in resolving conflicts in the country, saying dialogue and engagements are as just as important as law enforcement in tackling disputes.

    He said that traditional rulers were better placed “to champion this vision of continuing dialogue and engagement because of the respect you command from the widest possible range of stakeholders and parties.

    Osinbajo said “Dialogue and engagement are just as important as law enforcement, especially in situations triggered by misunderstandings and disagreements between people and communities who have existed peacefully side-by-side for centuries.”

    The vice president also said even though the law enforcement agencies are critical elements in deterring criminality and ensuring that perpetrators are brought to justice, overlooking the place of non-coercive conflict prevention and resolution mechanisms would do a great disservice to the people of Nigeria.

    He said, “You are also repositories of important intelligence that can be useful in detecting suspicious or criminal activity. The partnership between traditional authority and government is therefore crucial.”

    According to him, it was in recognition of this critical role of traditional rulers that informed government’s approach to dealing with Nigeria’s most pressing security issues in the Niger Delta and in the Middle Belt.

    “I can say without fear of contradiction that the New Vision for the Niger Delta would not have happened without the support of traditional rulers and leaders in the region. We have made it a priority to meet with them and carry them along, and ask for their wisdom and their support in resolving issues with stakeholders and communities. This was also our approach in the wake of secessionist agitation by IPOB in the South East.”

    He said government has been engaging traditional rulers in the flashpoint regions, counting on the influence they wield to chart a new and collective course of understanding, instead of the default approach of resorting to violence as a way of dealing with grievances.

    “As custodians of our rich history, we also believe that you have a duty to remind us of the things we have got right in the past, but from which, for some reason or another, we have departed from, to our detriment,” he stated.

    The vice president said Nigeria’s traditional cultures had long ago perfected timeless dispute-resolution and community-engagement mechanisms that are now under threat of being lost forever.

    “As traditional rulers, your forebears and ancestors were the initiators and implementers of many of these mechanisms, and our cultural institutions have evolved ways of passing this knowledge down the generations – even if we have not been paying attention as we should.

    “May I therefore most respectfully ask that you take this as a call to you, as royal fathers, as traditional rulers, as elder statesmen, to commit yourselves to deepening your partnership with government, to achieve our shared goal of laying the foundation of peace and security that will guarantee true greatness for Nigeria.” he added

    The Traditional Rulers at the summit expressed fears that the foundation of Nigeria as established by the founding fathers had been visibly deficient and threatened.

    They also said that the only way the country could be made great was when the leaders and different ethnic nationalities resolve to build a nation on a foundation of equity, justice, fairness, labour and high moral standards.

    In his welcome address, Chairman of Governing Council of the National Development Summit of Traditional Rulers, His Royal Majesty, Dr. Emmanuel Sideso Abe called for more roles for traditional rulers by the government.

    The monarch said it was disheartening that the constitutional review embarked upon by the National Assembly had remained inclusive for over a decade, while resolutions at the recent national conference, have not been considered for adoption in the interest of national survival and progress.

    Dr. Abe who is the Ovie of Uvwie Kingdom of Delta State, said the country needs a good leader that will create jobs and build bridges, adding that as a result of the security challenges in the country, most traditional rulers were unable to attend the summit that started with over 400 members when it was inaugurated by the late President Umaru Musa Yar’Adua ten years ago.

    He said that the country was born with incredible potentials neither uncommon ideals that could make it soar into greatness, adding that Nigeria was not meant to crawl or stagnate.

    He said “Here is a country born with incredible potentials, established on goodness and trust, with uncommon ideals and dreams that could make her soar into high altitudes of greatness. Like the eagles, Nigeria was born with powerful wings, in the form of enormous natural endowments. Nigeria was never meant to crawl or stagnate.

    “Whatever we may say or do the fact remains that our foundation as a nation as designed by our founding fathers has been visibly deficient and threatening. Administrations come and go but none has been courageous enough to address conclusively the issue of structural flaws.

    “We cannot do anything against the truth. The only way the eagle will fly is for it to realize that it is gifted with better wings than other birds and make a decision to use the wings effectively.

    “We must resolve to build a new nation on a foundation of equity, justice, fairness, labour and high moral standards. This is what makes the United States of America and other advanced economies to tick.

    “It is amazing how constitutional review has remained inclusive for over a decade at the National Assembly in spite of the exigency of the matter. It is equally disheartening that the resolutions of all recent national conferences were never considered for adoption in the interest of national survival and progress, the huge funds sunk in these projects notwithstanding,” he said.

  • Abacha loot: How cash transfer program will work, by Osinbajo

    Vice-President Yemi Osinbajo Wednesday said the cash transfer programme involving the recovered $322million Abacha loot will be stringently monitored to ensure transparency.

    He said monitors would visit the individual households that have been identified through “deliberate targeting”.

    The Vice-President spoke in Abuja when he launched the Monitoring of Recovered Assets through Transparency and Accountability (MANTRA) Project.

    It was at a roundtable organised by the Presidential Advisory Committee Against Corruption (PACAC) to mark the First African Day of Anti-Corruption.

    Read Also:How Abacha loot should be spent-ANRP

    The roundtable had the theme: “Enhancing Domestic Resources for Sustainable Development Goals by Improved Asset Recovery and Asset Return”.

    The Switzerland Government, based on a memorandum of understanding with Swiss banks and the World Bank, returned $322million to Nigeria.

    A Swiss court order that led to the repatriation of Abacha loot was made on the condition that the World Bank will supervise the money’s utilisation to prevent mis-management and re-looting.

    Special Adviser to the President on Social Protection, Mrs Maryam Uwais, who represented the Vice President, said the beneficiaries of the cash transfer are households contained in the National Social Register that was built using targeted machanisms to identify poor and vulnerable households.

    Mrs Uwais said: “By the end of this year, we should have a register of the entire country. This register is where all our beneficiaries will be mined from. There is a number for each of the beneficiaries, and we’ll have their pictures captured.

    “When we started, three banks offered to support us with the biometrics. By the time they started going to the locations, they realised it was costly for them. So they backed out.

    “Now, we’re working through agents to ensure we pay at the last mile, because if a person is on this register, and is actually deserving of this our N5, 000, many of them cannot travel for long distances.

    “Many of them need the money so we don’t want them spending money going to look for their money. So we’re using the agents. We’re working to see that their biometrics are captured.”

    She said data generated during the cash transfer programme would be used for planning purposes.

    “It’s more than just financial inclusion. It’s also social inclusion. It’s important for planning that every state is aware of where these people are located. We’re also collating data on access roads to these communities, nearest primary schools, secondary schools, healthcare centres, and connectivity issues.

    “There is a huge conversation on how to ensure that we’re able to make payment by virtual wallet, because a lot of our women on pay days are visible when they go to collect their money and we need to protect them.

    “In two or three communities, we’ve have incidences where the youths come around and say: ‘We selected you, so you must drop a levy’. For that reason we engaged the Minister of Interior who introduced us to the D-G of Civil Defence. Now we have armed men that escort our agents on pay day to pay these women.

    “We try to encourage them to adopt a saving culture. It’s about mentoring and encouraging them to form savings groups, and take ownership. It’s much more than cash.”

    Budget Office Director-General Mr Ben Akabueze debunked concerns that the money was not appropriated. He said a provision was made for it in the 2018 budget.

    “In the budget for 2018 for instance, we have reflected in the revenues a total of N512billion of recoveries, including domestic recoveries and those from outside. In reality, this has been appropriated. It’s part of the funds that along with other government borrowings and revenues have been appropriated.

    “Also, in the 2018 budget, we have a provision for N500billion for social investment programme, which includes conditional cash transfers,” Akabueze said.

    PACAC Executive Secretary Prof Bolaji Owasanoye, speaking on the sidelines of the roundtable, said cash transfer programmes are done globally.

    “It’s a temporary thing to bring people out of poverty and including them in social welfare. The register being used was developed by the last administration, working with the World Bank. It’s not being done on political party basis. Ekiti, Oyo and Kwara states had the framework, and that’s why they had a head start.

    “Monitors go there directly to check. It’s not by calculation. If it were left to politicians, they’d put people they want. But that is not happening. The media should go and check it out. Conditional cash transfer was going on before Abacha money was returned.

    “Do you know there are people who have never held N2,000 in their hands? The Swiss judgment is clear: the money should be used for Nigerian people and should be monitored by the World Bank. Based on the parameters in the MOU, nobody can steal the money unless the World Bank is complicit,” Owasanoye said.

  • Salaries may be delayed over FAAC deadlock, Says Adeosun 

    …Says NNPC’s explanation on cost not justified

     

    The Minister of Finance, Kemi Adeosun on Thursday warned that if the issues that led to the federation accounts and allocation committee (FAAC) meeting with governors that ended in a deadlocked is not resolved; salaries might be affected in the states.

    The committee members of FAAC, she said, felt that some of the costs presented by the Nigerian National Petroleum Corporation (NNPC) couldn’t be justified hence have decided that rather than approve the accounts, the negotiations continue until the agreements are reached.

    She also explained that President Muhammadu Buhari and Vice President Yemi Osinbajo, have been fully briefed and have supported the Ministry of Finance and the commissioners of finance not to approve those accounts until further explanations on some of the cost being implemented are given.

    The revenue sharing meeting had ended in a deadlock on Wednesday for the third time since January 2018.

    Read Also:FG receives N263.28bn from FAAC allocation in Feb – NBS

    The National Economic Council (NEC) presided over by Vice President Yemi Osinbajo, has demanded explanations from the NNPC for unclear costs the corporation made from FAAC.

    State Commissioners of Finance, who had converged on Abuja with the expectation to collect their states’ share of the monthly allocation, reportedly walked out of the FAAC meeting as they protested the deductions.

    Adeosun, who chairs FAAC, said she brought the matter to the NEC chaired by Osinbajo, with State Governors, Central Bank Governor, and others as members.

    Briefing the State House correspondents at the end of the NEC meeting, Adeosun said “Also in my capacity as chairman of FAAC, I briefed governors on the deadlock that we have got currently in the federation account and explained what happened. And there was quiet and extensive debate on what to do.

    “For the purpose of this briefing, we operate NNPC as a business, we have invested public capital in that business and we have expectations of return and when that return fails lower than our expectations then the owners of this business which in this case is the federal government and states need to act. So, that was what caused the deadlocked yesterday (Wednesday) and we really felt the figures the NNPC was proposing for FAAC were unacceptable. We felt that some of the costs couldn’t be justified and so we have decided that rather than approve the accounts, we will go back and do further work.

    “So further negotiations and interactions is going on with NNPC as we speak. However, we did briefed both Mr. President and Mr. Vice President on the deadlock and asked for their support and their forbearance in this because the consequence of this is that, salaries might well be delayed in many states as a result of this. But we feel that in order to get to the accurate figures that we need, we have asked for forbearance and the governors and the federal government are all in agreement that we need to get to the bottom of those figures.

    “In particular, now that the oil price is now $76 per barrel in the spot market which means that bonny light is about $78, we want to be aggressively putting money away into the excess crude account. So we are very conscious that this period, this window of relatively high oil price might not last and we will like to be able to save. If we cannot get into the federation account the sort of revenues we are expecting then we will not be able to save. So it was a very important point really underscored by all the governors and they really want action taken and they are fully in support of the positions of the Federal Ministry of Finance and the commissioners of finance not to approve those accounts until we get further explanations on some of the cost being implemented.

    On the exactly issue with the NNPC, Adeosun said, “Based on oil price, oil quantity you can pretty much calculate what you are expecting to see in the federation account and if the figure is less, then the right question that any stakeholder must ask is why.

    “So we have been going back and forth with NNPC to try and understand these figures before we can accept them. Remember that the FAAC figures have to be formally accepted by the federation-account committee and we were simply not comfortable with the quantum of some of the deductions made and therefore we could not approve those figures. So even as we speak, there is an interface going on between the commissioners forum, ministry of finance, office of the accountant general, CBN and NNPC but we hope to be able to convene FAAC within next few days.”

    While giving updates on the balances of the federation accounts, Adeosun said, “Items to note on the excess crude account is that in May we had an additional credit of $80.6 million that accrued into the excess crude account.

    “The balances on the excess crude account $1,916,742,289.60, stabilization 18,892,864,216.65, Natural Resources N133, 715,427,387.37.”

    Governor Ifeanyi Okowa of Delta State, who briefed the press alongside Adeosun, disclosed that the NEC approved the financial report of the Nigeria Sovereign Investment Authority (NSIA), for 2016 and update for 2017.

    He said the report indicated a positive profitability over the past five years, at about $8m per year; and $1.25m as assets at a rate of 6.6% return on assets.

    He said, “At the meeting today, we did take the annual reports and accounts of National Sovereign Investment Authority (NSIA) for the year ended 2016 and an update on 2017 activities.

    “The main issue was the NSIA report on five years so far of profitability in all forms with core profits of about N26.28 billion which is about $88 million in 2016. NSIA also reported that the total profit on that management was about $1.25 billion for most part of the year but they had received an extra of $250 million that was received in the third quarter of 2017.

    “It also did report that the returns on assets was up to 6.6 per cent in dollar terms which we considered to be quite good in terms of returns. It is actually shifting its focus now to infrastructure and direct investment locally in the country which is of great benefit to us as a nation.

    “The 2017 activities of the NSIA also include the implementation of Presidential Fertilizer Initiative (PFI) in 2017. They commenced the construction of free health projects in Lagos, Kano and Umuahia, Abia State. They continued with the work, the funding of the work on the second Niger bridge in which they had been involved in the past.

    “They also did invest and own 13 per cent of Bridge Academy Ltd, a network of schools which delivers high quality affordable primary education to lower income earners and it is hoped that they will do that too in other states of the federation.

    “They also did invest in Babagona, an agricultural franchise, that empowers small holder farmers across the country, and in 2018, they intend to focus on executing infrastructure investment across the nation which includes roads, investment in agriculture and health.

    “We are hoping that all this will impact on infrastructure development and development of industrial real estates across the country. Council eventually resolved that the account of NSIA presented to us should be approved and council so approved.”

    The NEC also resolved that a Committee comprising Governors of Kano, Osun, Delta, Anambra, CBN Governor and the Minister of Education should look into what needs to be done urgently in the education sector at the State level and report back to the Council.

    The minister of education said this was in recognition of the fact that more investment is needed in the education sector, while emphasising that collaboration among the Federal, States, Local Governments, Private Sector and Development Partners is very necessary, as the standard of basic education at the State level has fallen drastically.

  • FG decentralizing power generation, distribution – Osinbajo

    Vice President Yemi Osinbajo has said  that the federal government is decentralizing power generation and distribution in the country

    The Vice President made the disclosure during a town hall meeting with a cross-section of youths from Oyo State held at the Ogunlesi hall UCH ibadan.

    The event was co-hosted by the Vice President’s Office and Oyo State Government.

    Osinbajo said that the decentralization of power sources in Nigeria would give opportunities to organizations and industries to procure power for eventual distribution among consumers.

    He stated that the exercise would make it much easier to enjoy power supply even to residential houses across the country.

    “The ongoing solar system electrification project across various markets in the country  is part of the measure to decentralize power generation in the country.

    “We are licensing companies to provide power to companies, markets and several economic clusters,” he said.

    Osinbajo stated that the nation’s agricultural sector has improved, saying importation of rice to Nigeria, which amounted to five billion Naira has reduced to two per cent.

    He stated that such was achieved through the current administration’s policy  in Agriculture aided by the Anchor Borrowers’ Programme(ABP).

    “Today, only two per cent of rice consumed here are imported while the remaining 98 per cent are locally produced,” he said.

    Osinbajo stated that 8.2 million children are currently being fed across the nation on daily basis to generate employment opportunities and also encourage educational development in the country.

    The Vice President stated that 200,000 youths have benefited in the first batch of government’s N-Power programme, saying 300,000 youths have been shortlisted as for the second batch to meet the 500,000 target.

    Osinbajo called on the youths to take advantage of Bank of Industry (BoI) loan initiatives and other federal government’s interventions to establish small scale businesses.

    He said that the youths were the future of the country and urged them to be ready to occupy leadership positions of the country.(NAN)