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Showing posts with label News. Show all posts
Showing posts with label News. Show all posts

Wednesday, November 22, 2023

Environmental experts suggest law mandating planting of trees for landlords

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Environmental experts suggest law mandating planting of trees for landlords

Concerned by the imminent threats of environmental pollution to human well-being, a gathering of experts in Ogun State convened on Wednesday to deliberate on viable solutions to address this pressing issue. The 16th National Conference and Annual General Meeting of the Nigeria Institute of Landscape Horticulture (NILH) took place at the Federal University of Agriculture in Abeokuta, where experts not only discussed potential remedies but also called for legislative support to enforce tree planting by landlords.  In her keynote address on the theme "Urban Greenery and Beautification as a Strategy for Control of Environmental Pollution and Climate Change," Dr. Elizabeth Augustus, the Provost of the Federal College of Agriculture in Ibadan, underscored the urgent need for green solutions to combat environmental pollution. Dr. Augustus highlighted the far-reaching consequences of pollution, encompassing climate change, water and soil contamination, and adverse impacts on aquatic life, agriculture, and wildlife, ultimately posing severe risks to human health.  Addressing specific health concerns linked to pollution, Dr. Augustus pointed out the connection to chronic obstructive pulmonary disease, respiratory issues, and heightened hospitalization rates. Proposing a strategic approach, she advocated for the integration of greenery and beautification as crucial interventions, emphasizing the significant role of plants in the global carbon cycle and their potential in mitigating climate change. Dr. Augustus also stressed the importance of phytoremediation, a plant-based method designed to extract and remove pollutants from the soil, thus reclaiming polluted areas and stabilizing soil fertility.  Aligning with the call for legislative support, Kola Quadri, the President of NILH, urged the National Assembly to enact a law requiring homeowners to plant at least one tree within their premises. Emphasizing the widespread impact of climate change in Nigeria and the world, Quadri suggested starting the initiative at the local government level, with subsequent adoption by the state assemblies.  Echoing these sentiments, Emmanuel Bankole, the Ogun State chairman of the institute, emphasized that the purpose of the program was to draw attention to the effects of climate change and propose practical solutions. Bankole affirmed the institute's commitment to collaborating with government authorities at all levels to mitigate global warming, ensuring the preservation of the environment for current and future generations.

Concerned by the imminent threats of environmental pollution to human well-being, a gathering of experts in Ogun State convened on Wednesday to deliberate on viable solutions to address this pressing issue. The 16th National Conference and Annual General Meeting of the Nigeria Institute of Landscape Horticulture (NILH) took place at the Federal University of Agriculture in Abeokuta, where experts not only discussed potential remedies but also called for legislative support to enforce tree planting by landlords.


In her keynote address on the theme "Urban Greenery and Beautification as a Strategy for Control of Environmental Pollution and Climate Change," Dr. Elizabeth Augustus, the Provost of the Federal College of Agriculture in Ibadan, underscored the urgent need for green solutions to combat environmental pollution. Dr. Augustus highlighted the far-reaching consequences of pollution, encompassing climate change, water and soil contamination, and adverse impacts on aquatic life, agriculture, and wildlife, ultimately posing severe risks to human health.


Addressing specific health concerns linked to pollution, Dr. Augustus pointed out the connection to chronic obstructive pulmonary disease, respiratory issues, and heightened hospitalization rates. Proposing a strategic approach, she advocated for the integration of greenery and beautification as crucial interventions, emphasizing the significant role of plants in the global carbon cycle and their potential in mitigating climate change. Dr. Augustus also stressed the importance of phytoremediation, a plant-based method designed to extract and remove pollutants from the soil, thus reclaiming polluted areas and stabilizing soil fertility.


Aligning with the call for legislative support, Kola Quadri, the President of NILH, urged the National Assembly to enact a law requiring homeowners to plant at least one tree within their premises. Emphasizing the widespread impact of climate change in Nigeria and the world, Quadri suggested starting the initiative at the local government level, with subsequent adoption by the state assemblies.


Echoing these sentiments, Emmanuel Bankole, the Ogun State chairman of the institute, emphasized that the purpose of the program was to draw attention to the effects of climate change and propose practical solutions. Bankole affirmed the institute's commitment to collaborating with government authorities at all levels to mitigate global warming, ensuring the preservation of the environment for current and future generations.

Kano guber: Gov Yusuf heads to Supreme Court over Appeal Court verdict

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Kano guber: Gov Yusuf heads to Supreme Court over Appeal Court verdict

 

Governor Abba Yusuf of Kano State has taken his case to the Supreme Court to challenge the ruling of the Appeal Court that resulted in his removal from office. The Appeal Court had previously ousted Governor Yusuf, a member of the New Nigeria Peoples Party (NNPP), on the grounds of his alleged ineligibility to contest. The court simultaneously declared Nasiru Gawuna, the candidate of the All Progressives Congress (APC), as the winner of the gubernatorial election in Kano State.  The aftermath of the Appeal Court's decision has been marked by confusion, particularly regarding the content and implications of the judgment. To address the uncertainties surrounding the ruling, the court has directed concerned legal professionals to provide certified true copies of the judgment for necessary corrections.  The crux of the matter revolves around the Appeal Court's assertion that Governor Yusuf was not a valid member of the NNPP during the election. However, the certified true copies of the judgment have added to the perplexity by seemingly indicating the court's affirmation of Yusuf's victory. This development has further intensified the legal intricacies surrounding the case, creating a complex and uncertain situation that Governor Abba Yusuf seeks to address through the legal recourse available at the Supreme Court.

Governor Abba Yusuf of Kano State has taken his case to the Supreme Court to challenge the ruling of the Appeal Court that resulted in his removal from office. The Appeal Court had previously ousted Governor Yusuf, a member of the New Nigeria Peoples Party (NNPP), on the grounds of his alleged ineligibility to contest. The court simultaneously declared Nasiru Gawuna, the candidate of the All Progressives Congress (APC), as the winner of the gubernatorial election in Kano State.


The aftermath of the Appeal Court's decision has been marked by confusion, particularly regarding the content and implications of the judgment. To address the uncertainties surrounding the ruling, the court has directed concerned legal professionals to provide certified true copies of the judgment for necessary corrections.


The crux of the matter revolves around the Appeal Court's assertion that Governor Yusuf was not a valid member of the NNPP during the election. However, the certified true copies of the judgment have added to the perplexity by seemingly indicating the court's affirmation of Yusuf's victory. This development has further intensified the legal intricacies surrounding the case, creating a complex and uncertain situation that Governor Abba Yusuf seeks to address through the legal recourse available at the Supreme Court.

Delta indigenes set up shrine in Chevron’s facility over non-implementation of PIA

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Delta indigenes set up shrine in Chevron’s facility over non-implementation of PIA

 

Delta indigenes set up shrine in Chevron’s facility over non-implementation of PIA

Ugborodo Community in Warri South-West Local Government Area of Delta State took a stand on Wednesday by erecting the shrine of a formidable idol in front of the Chevron Escravos Gas to Liquid (EGTL) facility. The purpose of this symbolic action was to protest against Chevron's alleged failure to implement the Petroleum Industry Act (PIA), according to the community's indigenes.


The demonstrators, brandishing placards and obstructing the entrance to the facility, clarified that the idol named "Ogbejugbele" posed no threat to Chevron staff. Instead, its presence signified their ancestors' discontent with the company. The protesters insisted they would remain at Chevron's facilities until the federal government intervenes and compels the oil giant to address their grievances.


Among the 41 demands presented by the protestors, the primary call was for Chevron to adhere to the provisions of the Petroleum Industry Act (PIA) and the Ikpere Host Community PIA, as previously agreed upon by the National Upstream Regulatory Commission (NURPC). Additionally, they urged Chevron to provide employment opportunities for the youth and residents of Ugborodo and Itsekiri communities.


Speaking to the media, Helen Uremure, a community woman leader, expressed the frustration that led to the protest, citing Chevron's failure to fulfill its corporate social responsibilities. Over the past 60 years, she claimed, the community has not benefited from Chevron's presence in terms of employment or contracts, leaving elders unsupported.


Julie Iwetan, another resident, echoed the sentiment, emphasizing the community's hunger and suffering. Ukueyinden Ajuetsi, a youth, highlighted the lack of basic amenities such as clean water and electricity, emphasizing the absence of employment opportunities.


Joseph Ireyefoju, a community leader, criticized Chevron for ongoing maintenance work that brought in external workers, neglecting the indigenous population of Ugborodo and disregarding local content laws.


Augustine Iyinbo, one of the protest leaders, emphasized the community's resolve not to leave until Chevron takes the necessary actions.

Senate draws battle line with NNPCL boss Kyari over N12trn spent on refineries

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Senate draws battle line with NNPCL boss Kyari over N12trn spent on refineries

 

Senate draws battle line with NNPCL boss Kyari over N12trn spent on refineries


The Senate has declared its determination to ensure the dismissal and prosecution of the Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, along with other top executives. This stern stance follows the alleged expenditure of N12 trillion on the turn-around maintenance (TAM) of the country's non-operational refineries.


The Senate Ad hoc Committee, responsible for investigating various TAM projects within Nigerian refineries, disclosed that records show expenditures exceeding $592 million, €4.8 million, and £3.4 million between 2010 and 2023 on TAM, without corresponding functionality improvements in the refineries.


During an interactive session with the NNPCL management and executives from the oil sector, the committee expressed dissatisfaction with the non-appearance of chief executive officers from invited agencies. Among these agencies were the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and their subsidiaries.


Senator Isa Jibrin, the chairman of the ad hoc committee, emphasized the urgency of understanding and rectifying the identified leakages in the turn-around efforts. He declared the committee's intent to demand refunds and dismissals of all chief executives involved in the maintenance projects.


Senator Yahaya Abdullahi echoed the sentiment that representatives should communicate to their chief executives the imperative to appear in person. Senator Sumaila Kawu highlighted the seriousness of the Senate's business and its commitment to representing the interests of the people. He urged respect for the Constitution and warned of possible suspension of the interaction until the agencies were ready for meaningful participation.


Senator Danjuma Goje clarified that the committee's focus is on dealing directly with heads or chief executives rather than their representatives. He proposed setting new dates for the submission of required documents and scheduling a meeting where chief executives must personally attend. The agencies were given until Tuesday to provide the necessary documents ahead of the meeting with their respective chief executives.

Wednesday, November 15, 2023

A lecturer at Obafemi Awolowo University (OAU) reportedly slumped and died, with a student attributing the incident to fatigue.

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A lecturer at Obafemi Awolowo University (OAU) reportedly slumped and died, with a student attributing the incident to fatigue.

 

A lecturer at Obafemi Awolowo University (OAU) reportedly slumped and died, with a student attributing the incident to fatigue.

The Obafemi Awolowo University in Ile-Ife, Osun State, is mourning the loss of Dr. Ayo Ojediran, a lecturer in the Faculty of Education, who reportedly slumped in his office. Sources on the campus revealed that Ojediran was swiftly taken to the institution’s clinic after collapsing on Tuesday but unfortunately did not survive.


Victor Adesokan, the President of the Faculty of Education Students Association of Nigeria, shared details of the incident during an interview. Adesokan, who considered Ojediran a father figure, mentioned that the lecturer had complained of a headache and appeared extremely weak the night before his passing.


Expressing concerns about the faculty's current academic staff shortage, Adesokan highlighted that Ojediran's death marked the fourth among the faculty's lecturers in the outgoing year. He emphasized the need for additional recruitment to alleviate the workload on existing staff members.


Adesokan stated, “On Monday night, he complained of headache and stress. We told him to rest. They (lecturers) have too much workload on them. The school needs to recruit more lecturers, most especially in the Faculty of Education."


He further urged the government and school management to prioritize the well-being of lecturers and prevent further loss of lives among the academic staff.

Thursday, November 9, 2023

Tinubu prevents electricity tariff increase and stands firm on subsidy.

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Tinubu prevents electricity tariff increase and stands firm on subsidy.

Tinubu prevents electricity tariff increase and stands firm on subsidy.

 

Recently, President Bola Tinubu intervened to halt the proposed increase in electricity tariffs and emphasized the importance of maintaining power subsidies, according to the Minister of Power, Adebayo Adelabu. He disclosed this at a press briefing in Abuja, where he further revealed that the government would scrutinize the legality of the five-year license extension granted to privatized power distribution and generation companies, as their licenses would have normally expired on October 31, 2023.


Minister Adelabu also expressed his commitment to taking action against underperforming chief executives within the power ministry and its agencies, especially if their poor performance jeopardizes his position as the minister. In his statement, he emphasized that the power sector's sensitivity to leadership changes requires a balanced and well-thought-out approach.


Addressing the issue of cost-reflective tariffs, which could result in higher power charges for consumers, Adelabu explained the government's ongoing subsidy of power costs. Although tariff adjustments should have been implemented previously, President Tinubu refrained from raising the tariffs until consistent and incremental power supply is achieved. The substantial gap between cost-reflective tariffs and the approved tariffs is still being bridged by the government through subsidies.


Adelabu stressed that tariff adjustments would occur when the timing is appropriate and would follow extensive public communication and awareness campaigns, in addition to ensuring sustained and regular power supply.


The minister also highlighted the unsatisfactory level of power generation in Nigeria, which currently stands at around 4,000 megawatts. Efforts are being made to enhance this figure, but the current status is considered unacceptable and an issue of national concern.


Furthermore, Adelabu emphasized that only those who perform efficiently in their positions will remain, as the President has conveyed the necessity for ministers to deliver on their mandates. He emphasized the importance of the power sector's role in national development and urged all stakeholders to support his vision.


The minister also questioned the decision to privatize the power sector in 2013, suggesting that a better approach might have been commercialization. He hinted that the government might reassume control of the power distribution companies (Discos), especially those handling excessively large territories below expected standards. Adelabu also confirmed that he has initiated an investigation into the recent five-year license extensions for these privatized power companies to determine their legal and contractual validity.


Lastly, Adelabu discussed power supply to Niger Republic, stating that Nigeria has not yet resumed power supply to the neighboring country and that the situation is being closely monitored by the government.


In terms of electricity statistics, the National Bureau of Statistics reported that the total number of electricity customers increased slightly between Q1 and Q2 of 2022. However, on a year-on-year basis, customer numbers saw a decline. The number of metered customers increased on a quarter-on-quarter basis. Electricity supply decreased in comparison to previous years. Revenue generated by the Discos also declined on a quarter-on-quarter basis but showed an increase on a year-on-year basis.


This information provides a comprehensive overview of the current state of Nigeria's power sector, highlighting key government decisions and challenges. The government's commitment to both providing adequate power and supporting consumers remains a top priority.

Monday, October 30, 2023

The Osun state chapters of the APC and PDP are engaged in a dispute regarding Adeleke's ambitious N100 billion infrastructure plan.

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The Osun state chapters of the APC and PDP are engaged in a dispute regarding Adeleke's ambitious N100 billion infrastructure plan.

The Osun state chapters of the APC and PDP are engaged in a dispute regarding Adeleke's ambitious N100 billion infrastructure plan.

 

In Osun State, the main opposition Peoples Democratic Party (PDP) has raised allegations against Governor Ademola Adeleke's administration, accusing it of attempting to deceive the state and push it into a financial crisis with its recently unveiled multibillion naira development projects. Adeleke had announced an ambitious development agenda that would require over N100 billion in funding within a one-year period.


This development plan includes the construction of flyovers at five different locations in the state, with two in the state capital, Osogbo, and one each in Ede, Ikirun, and Ile-Ife. Additionally, the governor outlined plans for the rehabilitation of 345 health centers in the state's 332 wards, a second phase of potable water provision, rehabilitation of 31 schools in 30 councils, recruitment of new teachers, and the reconstruction or rehabilitation of 45 roads, each at least one kilometer long in every council, totaling 45 kilometers of roadwork.


Governor Adeleke emphasized that his administration would not seek loans from financial institutions to finance these projects. Instead, he mentioned that they had been diligently saving and addressing financial leakages within the state, resulting in an increase in the internally generated revenue base of Osun.


In response, the Osun APC chairman, Tajudeen Lawal, labeled Adeleke's plan as a crafty scheme designed to benefit certain individuals with close ties to the government, describing it as a scam.


Conversely, the ruling Peoples Democratic Party (PDP) in the state criticized the APC's criticism, deeming it unpatriotic and anti-development. PDP Chairman Sunday Bisi defended the development agenda, asserting that it was commendable, long overdue, sustainable, and crucial for the economic revitalization of the state. He highlighted the infrastructural challenges inherited by the PDP government and the significant progress made in addressing them over the past 11 months. Bisi urged the APC to shed its poverty-focused mindset and support the state's progress.

Amid the forex crisis, labor holds government officials accountable and is scheduled to meet with the federal government today.

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Amid the forex crisis, labor holds government officials accountable and is scheduled to meet with the federal government today.

Amid the forex crisis, labor holds government officials accountable and is scheduled to meet with the federal government today.

 

The Nigeria Labour Congress (NLC) has voiced its concerns over the severe consequences of the forex crisis on the nation's economy. The NLC President, Joe Ajaero, attributed the sharp depreciation of the national currency to government officials' preference for foreign luxury goods. He warned that the economy was at risk of enduring a series of negative consequences unless the naira stabilized against the US dollar.


The NLC's statement came ahead of a meeting between organized labor and the Federal Government, scheduled for today, where they will review the implementation of the Memorandum of Understanding signed regarding subsidy removal palliatives.


The NLC has recommended that public officials should support the naira by purchasing locally-manufactured products, rather than foreign luxury items. They emphasize the importance of patronizing Nigerian brands and express their concerns about the negative impact of officials opting for foreign products on the naira's value. They state that these actions "de-market" the naira and call on officials to be more patriotic in their choices, favoring domestically-made goods.


The labor union warns that without immediate interventions, they may be compelled to take action to prioritize the rescue of the naira, the economy, and the nation as a whole. They stress the significance of boosting local production and consumption of domestic products while reducing imports to stabilize the naira. Additionally, they suggest that commodities for export should be priced in naira.


Labor also raises concerns about ongoing disputes with the Imo State government, including unpaid salaries, wrongful designation of workers as ghost workers, destruction of the NLC state Secretariat, discriminatory pay practices, non-compliance with the National Minimum Wage, and unsettled gratuity arrears. They express their intent to embark on mass protests and industrial action to protect workers' rights in Imo State if the government does not resolve these issues. Labor warns that if necessary, they will shut down the state on the governorship election day, November 11, 2023.

Friday, October 27, 2023

Akeredolu rejects Aiyedatiwa's apology, maintains the need for Assembly investigation.

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Akeredolu rejects Aiyedatiwa's apology, maintains the need for Assembly investigation.

Akeredolu rejects Aiyedatiwa's apology, maintains the need for Assembly investigation.

 

Ondo State Governor, Mr. Rotimi Akeredolu, has rejected the apology offered by his deputy, Mr. Lucky Aiyedatiwa, regarding the ongoing political crisis in the state. In response to Aiyedatiwa's apology, Dr. Doyin Odebowale, the Senior Special Assistant on Special Duties and Strategy to the Governor, expressed the governor's refusal to accept the apology and insisted that his deputy must answer questions before the state House of Assembly.


Aiyedatiwa had blamed the ongoing crisis on desperate politicians in the state and stated that he remained loyal to the governor. He denied any involvement in sponsoring protests against Akeredolu. Aiyedatiwa also commended Akeredolu and the national leadership of the All Progressives Congress (APC) for their intervention in resolving the crisis.


However, Akeredolu's spokesperson disagreed with the deputy governor's statement that the governor had intervened in the crisis by persuading the House to embrace political solutions. He also refuted the denial of sponsorship of protests against the governor. Odebowale urged the deputy governor to address the allegations of misconduct brought against him by the House of Assembly. The political crisis in Ondo State remains a contentious issue that has raised concerns and cast a shadow on the state's political landscape.

Court invalidates the Nigerian government's ban on IPOB

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Court invalidates the Nigerian government's ban on IPOB

Court invalidates the Nigerian government's ban on IPOB


A state High Court in Enugu has declared the 2017 proscription of the Indigenous People of Biafra (IPOB) as unlawful, effectively nullifying the Nigerian government's ban on the group, which had been declared a terrorist organization. The judge, A.O. Onovo, ruled that the basis for the proscription, which relied on the Terrorism Prevention Act and administrative actions by the South-east Governors' Forum and the federal government, violated Section 42 of the Nigerian Constitution, which prohibits discrimination based on ethnicity.


The lawsuit was filed in January 2023 by Mr. Nnamdi Kanu, the leader of IPOB, against the Nigerian government, South-East Governors' Forum, the President of Nigeria, the Attorney General of the Federation, and the Governor of Ebonyi State. Justice Onovo's ruling emphasized that the proscription of IPOB also violated Mr. Kanu's fundamental rights as outlined in the African Charter on Human and People's Rights (Enforcement and Ratification) Act.


The court ordered the Nigerian government to publicly apologize to Mr. Kanu and declared that self-determination is not a crime, making it an invalid basis for arresting and prosecuting the IPOB leader. Furthermore, the federal government and other respondents were directed to jointly pay Mr. Kanu N8 billion in damages for the numerous physical, mental, emotional, psychological, and property damages he suffered due to the infringements on his fundamental rights.


The Nigerian government had repeatedly accused IPOB of being behind attacks in the South-east region, leading to loss of lives and property damage, but the group had consistently denied these allegations. Mr. Kanu, accused of terrorism, remains detained by Nigeria's secret police, SSS, in Abuja, while security agencies continue to target suspected IPOB members in the South-east.


Aloy Ejimakor, a special counsel to Nnamdi Kanu and IPOB, described the court's judgment as a landmark victory and highlighted the government's unjust targeting of IPOB compared to other ethnic organizations that have not faced similar measures.
 

The People's Democratic Party (PDP) expressed its disappointment with the Supreme Court's verdict on Tinubu, stating that it dashed the expectations of Nigerians.

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The People's Democratic Party (PDP) expressed its disappointment with the Supreme Court's verdict on Tinubu, stating that it dashed the expectations of Nigerians.

The People's Democratic Party (PDP) expressed its disappointment with the Supreme Court's verdict on Tinubu, stating that it dashed the expectations of Nigerians.

 

The People's Democratic Party (PDP) expressed its deep disappointment with the Supreme Court's verdict regarding the appeals filed by Atiku Abubakar of the PDP and Peter Obi of the Labour Party. The Supreme Court dismissed these appeals, stating that they lacked merit.


In a statement signed by the PDP's spokesman, Debo Ologunagba, the party conveyed its concerns about the Supreme Court's reasoning. The PDP believed that the judgment contradicted the express provisions of the Nigerian Constitution, the Electoral Act, 2022, and the guidelines and regulations set by the Independent National Electoral Commission (INEC) for the 2023 presidential election.


The party criticized the Supreme Court for what it perceived as a failure to uphold the law. The PDP emphasized that many Nigerians had expected the Supreme Court to uphold the constitutional requirements for a presidential election in Nigeria, including the need to secure at least 25% of votes in the Federal Capital Territory (FCT). They also raised concerns about violations of electoral rules, manipulations of election results by the All Progressives Congress (APC), and the condoning of issues related to forgery, falsehood, and perjury based on technicalities.


The PDP expressed its deep concerns about the overall impact of the Supreme Court's judgment, as it seemed to have shaken Nigerians' confidence in the judiciary, especially in the Supreme Court's role as the last hope for the common people.


Despite this disappointment, the PDP urged Nigerians not to be discouraged and to remain committed to the pursuit of a credible electoral system that genuinely reflects the will of the people.


In summary, the PDP's statement highlighted its dismay at the Supreme Court's judgment and its concern for the implications it holds for Nigeria's democracy. It also emphasized the importance of continuing the pursuit of transparent and credible elections.

Femi Falana calls on the Minister of Finance to enforce the remittance of $34.2 billion to the federation account by NNPC.

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Femi Falana calls on the Minister of Finance to enforce the remittance of $34.2 billion to the federation account by NNPC.

Femi Falana calls on the Minister of Finance to enforce the remittance of $34.2 billion to the federation account by NNPC.

 

Human rights lawyer and Senior Advocate of Nigeria (SAN), Femi Falana, has urged Finance Minister Olawale Edun to compel the Nigerian National Petroleum Company Limited (NNPCL) to remit $34.2 billion to the federation account. This substantial sum represents money received on behalf of the government from Nigeria LNG Limited (NLNG) between the years 2004 and 2021.


In a letter dated October 25, 2023, addressed to the minister, Falana further warned that he would file a lawsuit at the Federal High Court for the immediate recovery of the funds from NNPCL if it declines to make the necessary remittance.


Falana highlighted that on April 27, 2019, the Senate committee on public accounts held a public hearing on revenue generation for the 2021-2023 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP). During this hearing, NLNG's General Manager for External Relations and Sustainable Development, Eyono Fatai-Williams, revealed that the company paid dividends of over $18 billion to Nigeria through NNPCL from 1999 to 2019.


Furthermore, Fatai-Williams disclosed that NLNG had paid $9 billion in taxes to the Federal Government from 2011 to the present, and an additional $15 billion had been remitted for gas to NNPCL since the company's inception. Following this revelation, the Senate committee asked the suspended Accountant-General of the Federation, Ahmed Idris, to confirm whether the sum of $33 billion was indeed remitted to NNPCL.


According to Falana, Idris revealed that the funds paid by NLNG were not remitted to the federation account but were instead held by NNPCL. In light of this, the Public Accounts Committee directed the Accountant-General to ascertain the exact amount that was remitted to the federation account, whether any deductions were made by NNPCL, the amount deducted, who authorized the deductions, and the exchange rates applied for the remitted amounts over the years under review.

Friday, October 20, 2023

The House of Representatives is considering the enactment of legislation related to the funding of the Sustainable Development Goals (SDGs).

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The House of Representatives is considering the enactment of legislation related to the funding of the Sustainable Development Goals (SDGs).

The House of Representatives is considering the enactment of legislation related to the funding of the Sustainable Development Goals (SDGs).

 

The House of Representatives is considering the introduction of legislation aimed at securing federal funding for the Sustainable Development Goals (SDGs). Terseer Ugbor, a member of the House of Representatives, made this announcement during an event on funding for change in Abuja. He emphasized the importance of creating structures to ensure a safe environment for citizens, highlighting that environmental sustainability is a significant component of the SDGs. Additionally, he stressed the need for government entities at all levels to conduct environmental assessments and consider the social impacts of their actions alongside economic considerations.


Ugbor revealed that the National Assembly's lower chamber has established a committee dedicated to the SDGs. This committee is expected to develop policies and regulations related to SDGs. He further explained that the aim is to propose recommendations and policies that would ensure federal funding for the SDGs is effectively executed at the state and local government levels, allowing for a trickle-down effect rather than being limited to the federal level.


During the event, stakeholders emphasized the importance of developing relevant policies and bankable projects to attract the necessary funding for achieving the SDGs. Edu Okeke, the Managing Director of Azura Power West Africa, highlighted the necessity for governments to consider environmental assessments and the overall impact of projects on citizens when making development-related decisions. He also pointed out that Nigeria has often struggled to develop projects that are attractive to available financing.


Ure Utah, the founder of Bridge Synergy, explained that the conference's focus was on securing financial support for innovative social impact initiatives, with the goal of closing the annual financial gap of $10 billion by introducing development partners to suitable SDG initiatives in Nigeria.

The Independent National Electoral Commission (INEC) has announced its plan to dispatch 46,084 ad-hoc staff for the upcoming elections in Imo, Bayelsa, and Kogi states.

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The Independent National Electoral Commission (INEC) has announced its plan to dispatch 46,084 ad-hoc staff for the upcoming elections in Imo, Bayelsa, and Kogi states.

The Independent National Electoral Commission (INEC) has announced its plan to dispatch 46,084 ad-hoc staff for the upcoming elections in Imo, Bayelsa, and Kogi states.

 

The Independent National Electoral Commission (INEC) has unveiled its plan to deploy a substantial workforce of 46,084 ad-hoc staff for the upcoming gubernatorial elections scheduled for November 11 in Bayelsa, Kogi, and Imo states. This announcement was made by INEC Chairman, Prof. Mahmood Yakubu, during a meeting with the Resident Electoral Commissioners held in Abuja.


Prof. Yakubu also highlighted that a significant number of national and international organizations will engage 11,000 observers to monitor the off-cycle elections, ensuring transparency and credibility. Furthermore, the 18 political parties participating in the governorship elections are set to deploy 137,934 agents, including 130,093 polling agents and 7,841 collation agents.


Mahmood Yakubu underlined the Commission's efforts in various aspects of preparation for the upcoming elections. He mentioned that 80 media organizations have applied to deploy 1,203 personnel, comprising journalists and technical/support staff, to report on the elections. INEC is actively addressing logistical arrangements, including the provision of vehicles and boats for transportation, both on land and across water bodies.


However, the INEC Chairman expressed deep concern about the increasing insecurity and election-related violence witnessed in the three states, emphasizing the need for a secure environment to ensure the safety of all involved. Prof. Yakubu assured that the Commission is closely collaborating with the security agencies, and further engagements are planned in the coming days.


Despite the challenging security situation, INEC has already delivered all non-sensitive materials to the three states, and preparatory activities, including staff training, are proceeding as planned. The lessons learned from the 2023 general elections are being applied to enhance the Commission's performance in the forthcoming elections.

Taraba State: The Assembly clarifies that we are not retaining workers' outfit allowances.

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Taraba State: The Assembly clarifies that we are not retaining workers' outfit allowances.

Taraba State: The Assembly clarifies that we are not retaining workers' outfit allowances.

 

The Taraba State House of Assembly has responded to recent reports claiming that the Assembly was withholding seven years' outfit allowances for its staff. The Chairman of the House Committee on Information, Hon. Nelson Len, has clarified that the reported allowance owed to the staff was incurred during the previous administration led by Governor Darius Ishaku. When the current administration took office in June, they were concerned about the outstanding allowance and approached the state governor, Agbu Kefas. The governor approved the payment of the seven years' outfit allowance, but it will be disbursed when the state's financial situation improves.


Len emphasized the distinction between approval and payment, noting that the staff will receive their allowance once the necessary funds are available. He stressed that the Taraba State House of Assembly values its staff and recognizes their vital role in the day-to-day operations of the institution. Len also expressed concern that the false reports of funds being released for the outfit allowance could create discord between the Assembly's leadership and its staff.


The chairman urged social media content creators to verify facts before publishing information to ensure that the public is not misinformed. He further clarified that the N5 billion allocated to the House in the supplementary budget was intended for the renovation and construction of new structures within the Assembly complex and was not earmarked for the payment of outfit allowances. This statement aims to set the record straight and address any misconceptions about the allowance issue.

Tuesday, October 17, 2023

The capital importation into Nigeria has experienced a notable decrease, plummeting by 32.90% to reach $1.03 billion.

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The capital importation into Nigeria has experienced a notable decrease, plummeting by 32.90% to reach $1.03 billion.

The capital importation into Nigeria has experienced a notable decrease, plummeting by 32.90% to reach $1.03 billion.

 

Nigeria's capital importation has seen a significant downturn, with a notable decline to $1.03 billion in the second quarter of 2023, marking a substantial drop from the $1.5 billion recorded in the same period in 2022. This decrease, amounting to 32.90%, was reported by the National Bureau of Statistics (NBS). Additionally, the NBS report highlights a 9.04% decrease compared to the $1.13 billion recorded in the first quarter of 2023.


Capital importation is a term encompassing all foreign investments or monetary inflows into Nigeria's economy, including funds directed towards investments, trade, or business expansion.


The Bureau's data reveals that investment claimed the lion's share, accounting for 81.28% of total capital importation in Q2 2023, equivalent to $837.34 million. Portfolio investment followed with 10.37%, amounting to $106.85 million, and foreign direct investment with 8.35%, totaling $86.03 million.


In terms of sectors, the production sector led the inflow, capturing $605.04 million, which constitutes 58.73% of total capital imported in Q2 2023. The banking sector followed closely with $194.58 million, equivalent to 18.89%, and shares accounted for $68.63 million, or 6.66%.


The NBS data further indicates that the majority of capital importation during the reference period originated from the United States, contributing $271.92 million (26.39%). Singapore and the Republic of South Africa followed with $177.44 million (17.22%) and $136.95 million (13.29%) respectively.


Lagos State retained its position as the top destination for capital importation in Q2 2023, attracting investments totaling $778.06 million, equivalent to 75.52% of the total capital. Abuja ranked second with $194.28 million, representing 18.86% of the capital inflow.


The report also highlighted the financial institutions that played a significant role in capital importation. First Bank of Nigeria Limited emerged as the leading recipient, with capital inflow of $323.13 million (18.23%). It was followed by Citibank Nigeria Limited, which received $187.77 million (12.23%), and Rand Merchant Bank with $126.03 million (6.47%).

There’s no reason to witch-hunt you – Akpabio fires back at Sen. Abbo

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There’s no reason to witch-hunt you – Akpabio fires back at Sen. Abbo
There’s no reason to witch-hunt you – Akpabio fires back at Sen. Abbo

Senate President, Godswill Akpabio, has firmly denied any involvement in the removal of Adamawa North Senator, Elisha Abbo, by the Court of Appeal. Akpabio emphatically refuted the allegations made by Abbo, asserting that he has no motive to engage in any witch-hunt against the recently ousted legislator.


Following his unseating by the Appeal Court, Elisha Abbo had publicly accused Akpabio of orchestrating his removal and suggested that four other senators who opposed Akpabio's bid for Senate Presidency were also on the list for expulsion. Abbo specifically named Senator Orji Uzor Kalu as the next potential target.


In response to these allegations, Akpabio's Media Aide, Eseme Eyiboh, addressed the issue during a media briefing. Eyiboh expressed disappointment at Abbo's claims and characterized them as an attempt to find a scapegoat. He stressed that the decisions made by the Court of Appeal nationwide are based on the provisions of the Electoral Act and the evidence presented by petitioners, maintaining that the Senate President had no reason to pursue any form of vendetta against his fellow colleagues.


It's worth noting that Elisha Abbo was among the Senators who supported Senator Yari during the campaign for the Senate Presidency, adding a layer of complexity to the ongoing political discourse surrounding his removal.

The Federal Government has put forward a proposal of 26.01 trillion naira for the 2024 Appropriation.

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The Federal Government has put forward a proposal of 26.01 trillion naira for the 2024 Appropriation.

 

The Federal Government has put forward a proposal of 26.01 trillion naira for the 2024 Appropriation.

The Federal Government is taking significant steps to maintain the January to December budget cycle, with a goal of passing and signing the 2024 budget before December 31, 2023. This development was disclosed by the Minister of Budget and Planning, Atiku Bagudu, following a meeting presided over by President Bola Tinubu at the Council Chamber in the Presidential Villa, Abuja.


During the briefing with State House correspondents after the Federal Executive Council (FEC) meeting, several ministers were present, including Mohammed Idris from the Ministry of Information and National Orientation, Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, Engr. Dave Umahi, the Minister of Works, Doris Uzoka-Anite representing the Ministry of Industry, Trade, and Investment, Simon Lalong from the Ministry of Labour and Employment, and Nkeiruka Onyejecha, the Minister of State for Labour.


One of the significant outcomes of this meeting was the approval of the 2024-2026 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Papers (FSP). This approval aligns with the Fiscal Responsibility Act's requirement for the executive to present a medium-term economic outlook to the National Assembly ahead of budget presentations.


The Minister of Budget and Planning, Atiku Bagudu, presented some key assumptions made by the FEC regarding the 2024 budget. These assumptions included a reference price for crude oil at $73.96, an exchange rate of N700/$, oil production estimated at 1.78 million barrels per day, debt service amounting to N8.25 trillion, inflation at 21 percent, and a projected GDP growth rate of 3.76 percent.


The proposed 2024 budget was presented with an estimated aggregate expenditure of N26.01 trillion, encompassing statutory transfers of N1.3 trillion, non-debt recurrent expenditure amounting to N10.26 trillion, debt service projected at N8.25 trillion, and N7.78 trillion allocated for personnel and pension costs.


Minister Bagudu explained that the increase in debt service was attributed to the federal government's debt scrutiny at nine percent, resulting in a significant increment. Personnel costs also rose due to transfers as part of the agreement with labor.


Furthermore, the Federal Executive Council approved applications for financing from the World Bank and the International Development Association (IDA), which offers nearly zero-interest financing. The total financing from the World Bank amounted to $1.5 billion, and it was presented as support for Nigeria's efforts to restore balance in the economy and government finances.


In addition, the FEC approved an $80 million financing from the African Development Bank for the Ekiti Knowledge Zone Project (EKZ), aimed at empowering young people in technology and the knowledge economy sector.


Lastly, the Minister of Works, Engr. Dave Umahi, presented a memo addressing the scope of road infrastructure inherited from previous administrations, totaling 18,897 kilometers of roads and bridges. The FEC approved the continuation of these projects and directed a committee to strategize funding solutions. Additionally, the council encouraged using concrete for ongoing projects to mitigate inflation and variation.


Notably, the Federal Executive Council meetings have now been rescheduled to take place on Mondays, diverging from their previous Wednesday schedule.

Monday, October 16, 2023

Nigeria’s headline inflation rises to 26.72% in September

10:13 PM 0
Nigeria’s headline inflation rises to 26.72% in September

 

BUSINESSNigeria’s headline inflation rises to 26.72% in September

In September 2023, Nigeria witnessed a significant rise in its headline inflation, which increased by 0.90 percent, reaching 26.72 percent, compared to the 25.80 percent recorded in August of the same year. This data, unveiled in the September Consumer Price Index report by the National Bureau of Statistics (NBS), reveals a concerning trend in the country's inflationary pressures.


On a year-on-year basis, this surge in headline inflation signifies a notable increase of 5.94 percentage points when compared to the rate in September 2022, which stood at 20.77 percent. It's evident that the inflation rate in September 2023, when measured year-on-year, has surged compared to the corresponding month in the preceding year, September 2022.


Moreover, examining the data on a month-on-month basis, the report indicates that the headline inflation rate for September 2023 was 2.10 percent, reflecting a notable decrease of 1.08 percent compared to the rate recorded in August 2023, which was 3.18 percent. This particular aspect of the report suggests that the rate of increase in the average price level during September 2023 was less pronounced than what was observed in August 2023.


These statistics shed light on the changing economic landscape in Nigeria, where inflationary pressures are becoming a growing concern. It is essential for policymakers and economic stakeholders to closely monitor and address the factors contributing to this upward trajectory in inflation to ensure the country's economic stability and the well-being of its citizens.

Senate President, Akpabio behind my sack by Appeal Court – Abbo

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Senate President, Akpabio behind my sack by Appeal Court – Abbo

 

Senate President, Akpabio behind my sack by Appeal Court – Abbo

Elisha Abbo, the recently ousted Senator representing Adamawa North, has raised allegations suggesting Senate President Godswill Akpabio's involvement in the Appeal Court's decision to remove him from office. Abbo, in response to the court's ruling, contends that the removal of five senators, including himself, is part of a concerted effort to penalize those who opposed Akpabio's ascent to the position of Senate President.


Speaking to reporters in Abuja, Abbo explicitly named Senator Orji Uzor Kalu, representing APC Abia North, as the next targeted individual for expulsion from the Senate.


"I have it from a reliable source that myself and four other senators within the fold of the ruling All Progressives Congress (APC) will be removed from the Senate through rulings from the courts, all because of working against the emergence of Akpabio as President of the 10th Senate," Abbo asserted, although he did not disclose the identities of the other senators in question.


Abbo's sentiments regarding the court's judgment are filled with apprehension, calling into question the consistency and fairness of the judiciary. He stressed the importance of the judiciary serving as the last bastion of hope for the common people.


The recent Court of Appeal decision nullified Abbo's election under the platform of the All Progressives Congress (APC), with the court confirming Amos Yohanna, who ran on the Peoples Democratic Party (PDP) ticket, as the rightful representative for the senatorial district. This development underscores the contentious and dynamic nature of Nigerian politics, with consequences that reach well beyond individual senators.