Latest News
Governor Alex Otti has explained his contributions to the realisation of the 181-megawatt geometric power plant which was commissioned to serve the commercial city of Aba and some other parts of the State last Monday by Vice President Kashim Shettima.
Speaking on Channels television programme on Wednesday, the government explained his involvement in the realisation of the project started in 2004 as a top banker and from when he assumed office as governor on 29, May, 2023.
Otti was, however, categorical that he has no evidence that his immediate predecessor invested the State’s fund in the project as being insinuated by some officials of the administration.
Otti, said his involvement in the project began when as an Executive Director a First Bank in 2010, he was approached by the owner of Geometrics Power Limited and ex-Minister for Scienjce and Technology, Bart Nnaji to help fund the project. He said this was after the bank that was funding it pulled out as a result of global economic crisis.
According to the Abia Governor, he was able to process an $85m facility for Geometric Power Project then. But he noted that the the Board of First Bank stopped the company from draw the facility because he was proceeding to Diamond Bank as CEO. According to him, the Board felt it won’t make any sense to allow the country to withdraw the facility when the person that was going to manage it was not there.
“I headed to Diamond Bank which actually was the bank that was initially funding the project. On getting to Diamond Bank, we restructured the facility and saw it to completion by October 2014, the time I left Diamond Bank.
But he added that a lot of other factors stalled the realisation of the Geometric Power Project even after then. He listed the factors to include the sale and resale of the Aba Invest Island as well as sale of the major oil block that was supposed to provide power to the plant by Shell
Otti said when he assumed power in 2023, he initiated move to settle the gas problem.
“By the time we took over on the 29th of May, we sat down with Geometric a few times and engaged with NNPC and NNPC deployed their partners and gas was made available.”
Otti said Geometric Power Project, the first integrated electricity facility in Nigeria located in the Osisioma industrial hub of Aba in Abia with its current capacity of 141 megawatts power has the capacity to ensure that blackouts became a thing of the past in the state.
“Power outage will the exception rather than the rule which is the situation at this time,” said Otti.
“I have set up a team to dig into the facts,” the Governor said while stating that it would be difficult to say that his predecessor, Okezie Ikpeazu was involved in the realisation of the project.
Nnaji, had at a media briefing few days before inauguration of the Geometric Power Plant also assured assured of providing reliable power supply to Aba Ring-Fenced Area (RFA) by third week of March 2024.
Nnaji co-hosted the briefing with the Abia Commissioner for Power and Public Utilities, said the first turbine which would start functioning fully after the IPP’s inauguration on Feb.26 will not yet provide reliable power supply to the RFA.
According to him, the Aba IPP is Nigeria’s only integrated power project which had its own embedded power plant enabling it to generate and distribute its own power.
“We have about four brand new power stations not yet connected to our network and at this moment, our infrastructure are adequate to carry our supply.
“Geometric Power Limited (GPAL), has invested almost $800m in the integrated power project, making it by far the largest investment in the Southeast geopolitical zone of Nigeria”, he said.
Abia State Governor, Alex Otti, has lamented the free fall of the naira, saying the Federal Government printed too much money in circulation.
The governor stated this during an interview on Channels Television’s Politics Today on Thursday.
“I believe that the major problem we have is financial discipline. We are dealing with an economy where we printed so much money, at the last count, we will be nearing N30 trillion,” he said.
“So what happens with ways and means is that the quantum of goods that you have available in an economy does not increase with the quantity of money that you print.”
Consumption To Production
During the interview, the governor, who is a member of the Labour Party (LP), said the nation must move from consumption to production for the economy to recover.
He condemned the situation whereby Africa’s largest economy imports virtually every product, saying it piles much pressure on the foreign market.
“The issue of production versus consumption, if the economy must recover, we must move to production.
“That does not necessarily mean we will reduce consumption; what it means is that we will be consuming what we produce, to the extent that we are importing virtually everything. You keep piling pressure on the foreign exchange market,” he said.
The Senate, on Thursday, directed the Police Service Commission and the Nigeria Police Force to recruit a minimum of 10 candidates from each of the 774 local government councils in Nigeria.
The directive, according to the Upper Chamber, should form part of its annual recruitment processes.
The resolution was reached as a result of a motion moved by Sen. Emmanuel, Udende Memga representing Benue North East, on the need for the Police Service Commission and the Nigeria Police Force, to adhere to the Federal Character Principle in the recruitment of constables in the Nigerian Police Force.
The Upper Chamber also directed the Committees on Police Affairs and Legislative Compliance to ensure compliance.
This is as a bill for an act to establish the National Assembly Budget and Research Office, scaled second reading on Thursday, February 29, 2024.
If eventually passed, the bill sponsored by the Deputy Senate President, Sen. Barau Jibrin, will provide the National Assembly with objective, timely and non-partisan analysis needed for economic and budget decisions.
The Governor of Abia State, Alex Otti, has lamented the condition the state was in when he took over reins of power last May, saying that it was left in a very bad shape by his predecessor, Okezie Ikpeazu.
When asked if he met the state in bad shape, he replied, “Absolutely, very, very bad shape, but I am not complaining. I have folded my sleeves and I am just dealing with what I met here.”
The governor was a guest on Channels Television’s Politics Today on Thursday.
He said that while he was not totally against debts, his grouse was that he did not see what the money borrowed by his predecessor was used for.
“My worry is not really about debt, it is about what the debt is used for. If you inherited a debt profile of N34.4 billion by May 29, 2015 and eight years later you ran that debt to about N192.2 billion; I really can’t see anything that you have done with the money, salaries were not being paid, pensioners were being owed, infrastructure was decaying, the place go into ruins, schools were run down completely, hospitals were dilapidated.
“So, the issue is where did the money go? If I am going to take debt, it is going to go into regenerative expenditure. But when you are taking loans and you are running the state into debt, just for consumption, you are not investing in the state; you are not paying salaries; that’s actually what I was talking about.”
On tax collection, Governor Otti said his administration has cleaned up the system by driving away miscreants from collecting taxes for the government.
He said that they have made it a duty that collection of any revenue cannot be made in cash.
“As a government, we do not patronise touts and we have also made it clear that people in Ariaaria market can only pay through the designated banks. Cash payments are no longer allowed. You do not pay for any revenue by cash, you can only pay through the banks,” he said.
Otti also reassured the people of Abia of delivering rail project which is one of the projects he promised during his campaign. He said the government has been in a discussion with a Chinese company and that the discussions are going well.
Give Nigerians one month uninterrupted power supply, they will invent anything in this world – Chukwuka, former DG, NOA
AdminFormer Director General of National Orientation Agency (NOA), Dr. Ifeanyi Chukwuka, has challenged the federal government of Nigeria to try the ingenuity of Nigerian youths by giving them 24/7 power supply in one whole month, and see what they could do with their brains.
In a monitored broadcast yesterday, the erstwhile DG of NOA who spoke on ‘State of the Nation’ decried the level of profligacy and insensitivity of political leaders in the country which is evident in the current unprecedented economic hardship ravaging the entire country.
Dissatisfied with the poverty level in the country, the American- based Physician recalled his experience as the DG of NOA, and how he was ousted out of office by act of corrupt system and persons who are bent at destroying Nigeria.
“On assumption as DG of NOA, I was told that workers don’t receive January salary till after April, and I asked why, I was told it was the status quo, that workers’ salary were use for investment (without their consent) by one person, but I told them I won’t do such wickedness. And I delivered”
Chukwuka affirmed that leadership is not for everyone but for serious minded persons with sacrificial hearts, and not for kleptocrats, gerontocrats nor for kakistocrats. “Nigeria’s endemic problem didn’t start today but from the time of Shagari, and as it is we can’t come out corruption today. What we have are politicians who buy houses in UK, US, Canada with public funds.
The medical expert posited that Nigeria doesn’t deserve any person above 55 to be president given what he called in medical terms ‘decrescendo cognitive level’, adding that age of a man or woman affects his productivity.
“We (55 years above) don’t have that cognitive ability again. A good actor leaves the scene when the ovation is loudest. We’re in decrescendo level. Old men have nothing to offer. Look at all Nigerian leaders, old men throughout.
“I served four governors in Anambra, I don’t have a plot of land in Akwa, I was in Abuja as DG of NOA, I don’t have a plot of land in Abuja, that was not what I came for. But I didn’t last in office because of some people’s selfish interest, but before my exit, I ensured accountability and transparency”
He maintained that the Nigerian governance system does not help the common man, but was skewed to favor the rich and a section of the country. “What we have is over- bloated government and over- bloated expanses.
“I summarized Nigerian problems in 5 I’s thus, Indiscipline, intolerance, impatience, insincerity and injustice, but there was no time for me to start tackling them from NOA, because they removed me after 1 year and some months” he bemoaned.
[Sun]
The NGX market capitalization witnessed a notable surge, as the value of listed equities soared by N390 billion, reaching N54.71 trillion by the close of the session.
This follows a loss of N700 billion reported in the previous day’s trading as investors reacted to the outcome of the MPC. The gains posted today suggest investors may be having a rethink as some stocks became attractive following the sell-offs.
In terms of drivers, the positive performance of the Nigerian Stock Exchange (NSE) was primarily fueled by significant gains in the banking sector, with all FUGAZ banks experiencing increases in their market worth.
The NSE experienced a modest upswing, reversing the previous bearish trend, with a gain of 714.28 points in the NGX All-Share Index (ASI), settling at 99,980.3 points.
Trading activity demonstrated improvement, with a total volume of 542.95 million shares traded, marking a notable increase of 146.72 million shares compared to the previous session’s volume of 396.23 million shares.
Moreover, the total trading value saw an uptick, with shares worth N8.697 billion changing hands, indicating a 49.28% increase from the N5.83 billion recorded in the preceding session.
Market Indices
Here are the market Indices for today’s trading session
- NGX All-Share Index: 99,980.3 points
- Previous ASI: 99,266.02 points
- % Day Change: +0.72%
- % YTD: +33.71%
- Market Cap: N54.71 trillion
- Volume Traded: 542.95 million units
- Value: N8.697 billion
- Deals: 9,650
Top Gainers
- GTCO: +10% to close at N39.60
- NEM: +10% to close at N6.60
- JULI: +10% to close at N3.41
- UBA: +10% to close at N22.55
- CHAMPION: +9.97% to close at N3.42
Top Losers
- TIP: -10% to close at N1.80
- SUNUASSUR: -10% to close at N1.71
- ETERNA: -9.81% to close at N14.25
- CWG: -9.76% to close at N5.55
- MORISON: -9.58% to close at N1.51
Top Traded Stocks
In trading activity, UBA led the pack with a volume of 93.71 million units exchanged, closely followed by TRANSCORP with 54.08 million units, JAPAULGOLD with 34.34 million units, STERLING with 28.49 million units, and FIDELITYBK with 27.09 million units.
SWOOT and FUGAZ Update
FBN Holdings has re-entered the SWOOT category, showing a slight 1.27% uptick in its market value, while GTCO and Zenith Bank also experienced gains in their share prices.
- Conversely, stability persists among AIRTELAFRI, MTNN, BUACEMENT, BUAFOODS, DANGCEM, GEREGU, SEPLAT, and TRANSCOHOT.
- In the top-tier banking segments, both UBA and GTCO saw significant 10% increases in their market values. Access Holding, Zenith Bank, and FBN Holdings recorded rises of 9.74%, 7.86%, and 1.27%, respectively, in their market worth.
[Nairametrics]
Nobel Laureate, Prof Wole Soyinka, on Thursday, said Nigeria should break up if the path would solve the country’s challenges.
Soyinka said this at the PUNCH Newspapers’ 50th-anniversary lecture held in Lagos.
Delivering his lecture titled ‘Recovering the Narrative’, Soyinka said Nigeria should decentralised for Nigerians to enjoy the country more.
The lecture, which was delivered by the Nobel laureate, is part of the weeklong activities marking the 50th anniversary of PUNCH.
The elder statesman said decentralisation would allow governance to get closer to the people, adding that it was high time for leaders to stop taking Nigerians for a ride.
“I know the fear. The fear is collapse, break up. That’s been the excuse given by several regimes. But suppose the nation is breaking up informally, in other words as a fact rather than as a theory. Then, and you better just address this. Come straight on and see exactly what happened. What is wrong with general representatives seeing them and saying this is the protocol of our association, Anything outside of it? Anyone who does not want to accept these protocols, abide by these protocols and manifest these protocols in the act should take a walk. I have no problem at all.
“We live in what is known as the nation beginning as a vast football field is ending up as a ping pong table. If that is going to restore dignity to citizens. If that is going to guarantee three square meals a day then so be it. One of my favourite expressions with people is “Let nations die, that humanity may live.”
He explained that while Nigerian politicians know the importance of restructuring, they change their tune when they get to power.
He said, “What do you mean by restructuring? Well, I don’t even like the word restructuring. I use, I prefer expressions like reconfiguration and decentralisation. Everybody can grasp that, decentralisation. And those who lead, recognise the necessity of it. They recognise the importance, almost the inevitability of it until they get into power, yes, that’s the difference.
“It’s about time, I think leaders stopped taking this nation for a ride, you know, we must decentralise. Security, you know, has become a burden to bear. From all corners of the nation, that is the crime.
“Decentralised so that government can come closer to the people, and productivity can really be manifested as a product of citizens, not simply as a manna from heaven.”
Founded in March 1973, PUNCH, Nigeria’s foremost newspaper, clocked 50 on March 18 last year but its board of directors moved the 50th-anniversary celebration to this year because the anniversary month fell within an election month and year.
The 50th anniversary is being marked with the 40th anniversary of the passing of PUNCH founding Chairman, the late Chief James Olubunmi Aboderin, who died on February 28, 1984, at the age of 50.
[DailyTrust]
Deputy Speaker of the House of Representatives, Rt. Hon. Benjamin Kalu has said that the first draft report of the ongoing review of the 1999 constitution would be ready in August 202.
He equally said the final clean copy for the presidential assent after the voting on the expected issues of concern by the two chambers of the National Assembly would be out in August, 2025.
Kalu dropped the hints at a press conference by the House Committee on Constitution Review on Thursday.
It could be recalled that the committee on its inauguration, Monday, in Abuja, gave a 24-month timeline for the conclusion of the exercise.
At the press conference, Kalu who doubles as the chairman of the committee said: “We are pushing to ensure that in our activities, that in no distant time, the first draft of the work we are trying to do in the constitution will be ready.
“This will be subject to approval of the work done by the subcommittee. Let me mention that by our target, the first draft of the constitution will be out in August 2024.
“Second draft will be out in October 2024, we will commence zonal inputs from October 2024, we’ll keep collecting inputs from citizens from 14th October 2024 as we prepare for the last version or the last draft copy of the constitution.
“We are hoping that there will be a harmonization of the issues, on the 27th, 28th February 2025.
“We are hoping that during a technical working retreat that will take place in February 2025, the Senate and the House of Representatives documents will be harmonized.
“It is our desire that on the 17th of March 2025, we will have harmonized documents considered in the House. It is our believe that by April 2025, we will have the final copies of draft amendments produced.
“We are optimistic also that by 12th May 2025, we’ll have, the final clean copy of amendments’ bills agreed on.
“And we are looking at 22nd May 2025, as a time when we will have final report laid for consideration and voting.
“This is to say that members will be voting on the work we have done on this important date of 22nd May 2025.
“We are believing that around the 29th of May or 13th of June, knowing fully well what these important dates mean to Nigerians, we will expect the final concurrence of state assemblies secured.
“If it delays more than that, it will not go beyond August of 2025 because we believe that by August 2025, the president will receive the bills that will be presented to him for presidential assent. So, our targets are that transmission of bills to Mr President for assent will take place August 2025.
“And with this, we are sure that our target to get this job done in 24 months will be achieved if we send it to Mr President by August 2025 and hoping that by December we will have a constitution that’s fully amended.”
The Deputy Speaker also called for submission of memoranda from different interest groups, Civil Society Organizations (CSOs), Labour Unions, relevant institutions of government and the members of the general public to aid the committee’s work.
He said that the thematic areas included Federal Structure and Power Devolution; Local Government/Local Government Autonomy; Public Revenue, Fiscal Federation, and Revenue Allocation; Nigerian Police and Nigerian Security Architecture; Comprehensive Judicial Reforms; Electoral Reforms to strengthen INEC to deliver transparent, credible, free and fair elections; Socio-economic and cultural rights as contained in Chapter 2 of the
constitution and Traditional Institutions.
Other are Issues of Gender; Strengthening the Independence of oversight institutions and agencies created by the constitution or pursuant to an Act of the National Assembly; Residency and Indigene Provisions; Immunity; The National Assembly; Process of state creation and State access to mining.
“In exercise of the powers conferred on the Legislature by Sections 4, 8, and 9 of the Constitution of the Federal Republic of Nigeria 1999 (as Amended) and Order 20, Rule 30 of the Standing Orders of the House of Representatives (11th Edition) and the Legislative Agenda of the 10th House of Representatives, I am pleased to invite the Executive and Judicial bodies, State Governments, Women Groups, Academics, Civil Society Organizations, Labour Unions, Professional bodies, Ethnic
Nationalities, Nigerians in the Diaspora, Diplomats and the general public, to submit memoranda or proposals for further alteration(s) of the 1999 Constitution (as amended) on the following thematic areas: The Federal Structure and Power Devolution; Local Government/Local Government Autonomy; Public Revenue, Fiscal Federation, and Revenue Allocation; Nigerian Police and Nigerian Security Architecture; Comprehensive Judicial Reforms; Electoral Reforms to strengthen INEC to deliver transparent, credible, free and fair elections; Socio-economic and cultural rights as contained in Chapter 2 of the
constitution; Traditional Institutions; Issues of Gender; Strengthening the Independence of oversight institutions and agencies created by the constitution or pursuant to an Act of the National Assembly; Residency and Indigene Provisions; Immunity; The National Assembly; Process of state creation; State access to mining”, he said.
The committee, however, extended the call for memoranda to “any other matter that will promote good governance and the welfare of all persons in our country on the principles of freedom, equality, and justice.”
[DailyPost]
Access to websites of top global cryptocurrency exchanges and virtual digital asset service providers such as Binance, Kucoin, OKX, and others, have been blocked and restricted in some countries.
Major economies like China, India, Turkey, and Nigeria have restricted and curtailed crypto trading.
Authorities are wary of how exchanges may be laundering the proceeds of criminal activity, or aid tax offenders, or host the perpetrators of crypto scams.
In the past few years, the platform has landed itself in a fix over compliance issues in several countries. Binance has been slow to comply with local money laundering laws, and has failed to register to do business in many countries.
On May 12, 2023, Binance exited the Canadian marketplace due to stricter requirements around stablecoins and investor limits.
Canada tightened regulations for crypto asset trading platforms with the introduction of a pre-registration process.
For Nigeria, telecommunications firms have been instructed to restrict access to the websites of cryptocurrency firms such as Binance, OctaFX, Coinbase and others, months after its Central Bank issued a guideline to govern digital asset operators’ activities.
This new restriction on crypto websites is aimed at slowing currency speculation activities in the country, with Binance stating that its platform is not for currency pricing. The platform said this after users complained about their inability to buy dollars.
When Nigeria banned Twitter in 2021, Nigerians continued using the platform with Virtual Private Network (VPN) apps. The same is expected, with the country boasting one of the largest crypto populations in the world.
Binance Holdings Ltd., branded Binance, is a global company that operates the largest cryptocurrency exchange in terms of daily trading volume of cryptocurrencies.
It was founded in 2017 by Changpeng Zhao, a developer who had previously created high-frequency trading software.
Binance was initially based in China, then moved to Japan shortly before the Chinese government restricted cryptocurrency companies.
Binance subsequently left Japan for Malta and currently has no official company headquarters.
Cryptocurrency trading platform is facing restrictions in multiple jurisdictions, such as the United States, Singapore, Canada and the United Kingdom.
In 2021, Binance was put under investigation by both the United States Department of Justice and Internal Revenue Service on allegations of money laundering and tax offenses.
Also, the UK’s Financial Conduct Authority ordered Binance to stop all regulated activity in the United Kingdom in June 2021.
Bayo Onanuga, special adviser to President Bola Tinubu on information and strategy, had advocated that Binance and other crypto platforms should be banned from operating in Nigeria.
Onanuga’s call for a ban on cryptocurrency trading platforms followed the directive of the CBN on February 5, 2021, to banks, non-bank financial institutions (NBFIs), and other financial institutions (OFIs), to close accounts of persons or entities involved in crypto transactions.
The regulator also warned local financial institutions against dealing in crypto assets or facilitating payments for crypto exchanges.
CBN cited concerns over money laundering, terrorism financing, cybercrime, and the volatility of cryptocurrencies as reasons for the ban.
Majority of restrictions across countries stem from licensing and money laundering issues.
The countries where Binance has been restricted or banned in no particular order are as follows:
United States
United Kingdom
Japan
Italy
Canada
Belgium
Nigeria
Australia
India
Netherlands
Thailand
Philippines
Germany
France
Bangladesh
Iran
Vietnam
Kazakhstan
Malaysia
China
[TheCapital.ng]
President Bola Tinubu has expressed displeasure with the approach of a section of the Organised Labour, saying calling four strike actions within nine months of a new administration was unacceptable.
Tinubu spoke on Thursday in Lagos where he inaugurated the first phase of the Lagos Rail Mass Transit (LRMT) Red Line project, a 37km project expected to reduce travel time and improve transportation and logistics in the State.
The President also witnessed the signing of the contract for Phase 2 of the LRMT Red Line project by the Managing Director of Lagos Metropolitan Area Transport Authority (LAMATA) Engr. Abimbola Akinajo and the Chairman of CCECC Nigeria Limited, Jason Zhang.
According to a statement by his Special Adviser on Media and Publicity, Ajuri Ngelale, he called on Nigerians to embrace change and work towards national progress.
He reaffirmed his administration’s commitment to eradicating corruption and called on labour unions to refrain from disruptive actions.
Speaking to the incessant industrial actions called by Labour, under various pretexts, the President advised Labour leaders to rather help society by maintaining the peace, if their reason is not political, reminding them that the Labour movement is the only voice available to Nigerians.
”Some labour unions should understand that no matter how we cling to our freedom and rights, to call for strikes within the first nine months of a new administration is unacceptable.
”Some labour unions should understand that no matter how we cling to our freedom and rights, to call for strikes within the first nine months of a new administration is unacceptable.
Addressing a gathering of Nigerians at the train station in Ikeja, President Tinubu directed the Minister of Transportation, Senator Sa’idu Alkali, to ensure that the federal and subnational governments strengthen their collaboration to provide reliable, efficient, and affordable transportation systems for all Nigerians across the country.
”It is my singular pleasure to inaugurate the first phase of the LRMT Red Line to the glory of God Almighty and for the benefit of the people.
”Today, I am seriously honoured that I am a Lagosian and the first to be President of the Federal Republic of Nigeria.
”My promise is not to let you down. We will arrive at the destination with joy, happiness, and prosperity; God willing,” he said.
Reflecting on his tenure as the former Lagos Governor when the vision of a modern and effective public transportation system in the state was conceived, President Tinubu described the project as a dream realised and a fulfillment of years of hard work and dedication by successive governments.
”I am very happy indeed that today is a day to remember in Nigeria’s infrastructural history, particularly Lagos, the center of excellence. Today is evidence that it is good to dream, and it is a serious validation of democracy as a form of government of the people, by the people, and for the people.
”When you put people at the centre of your vision and planning, you will realize the value of democracy.
”Twenty-five years ago, I was elected to lead Nigeria’s most populous state. From the very beginning, my team and I toiled day and night with a very bare cupboard and amidst pervasive deficiency to implement a developmental vision that would transform Lagos into an economic powerhouse. Today, we are realizing that dream.
”The momentum of greatness we kick-started a quarter of a century ago has become unstoppable progress. It is not a crime to dream and dream big. Just stay focused and make development a central focus,’’ he said.
President Tinubu commended the Lagos Metropolitan Area Transport Authority (LAMATA), the urban transport agency he established over 20 years ago, for its exemplary performance and implored LAMATA to sustain the momentum in completing all other phases of the Red Line project, as well as the full execution of the broader rail blueprint of the state.
Sanwo-Olu explained that the first phase of the project, executed by the State Government, spans 37 kilometers and shares the track of the Nigerian Railway Corporation (NRC) Lagos-Ibadan modernisation project from Ebute Metta to Agbado with stations at Oyingbo, Yaba, Mushin, Oshodi, Ikeja, Agege, and Iju.
According to the Governor, phase one of the project will transport 750,000 passengers daily at inception and 1.1 million passengers daily once it is fully operational.
”All the stations are live and ready to receive passengers,” Sanwo-Olu announced.
While speaking to reporters aboard the train during the inaugural ride, President Tinubu assured Nigerians that their lives will only become more enjoyable as modern amenities are built across the entire nation under his progressive leadership.
‘‘This is very efficient and comfortable, and I am happy. Our transportation system must be all about the people. We have cut down imports on PMS by almost 50 percent. We need mass transit to complement the daily efforts of citizens and make things easier for our people. And this is what this is all about. It is about the people. It is about democracy. We are happy about it,’’ Tinubu stated.
[TheNation]
More...
The House of Representatives, on Thursday, described the 2012 Steve Oronsaye Report as outdated and called on President Bola Tinubu to thoroughly review it before going ahead to implement the same.
The House, therefore, raised a 23-man committee chaired by House Leader, Julius Ihonvbere, to recommend appropriate measures to mitigate the likely fallout of the Oronsaye Report review.
The Federal Government had on Monday announced plans to implement the Oronsaye report, which proposes the merger of ministries, departments and agencies, as a measure to cut the cost of governance.
Presidential Goodluck Jonathan had in 2012 set up the Presidential Committee on Rationalisation and Restructuring of the Federal Government Parastatals, Commissions and Agencies.
The committee headed by former Head of the Civil Service of the Federation, Steve Oronsaye, recommended the scrapping and merging of 220 out of the then existing 541 government agencies.
Moving a motion of urgent public importance on the floor of the House of Representatives on Thursday, the trio of Kama Nkemkanma, Olumide Osoba and Gaza Gbefi noted that the Oronsonye Report “Recommended the reduction of statutory agencies from 263 to 161, the abolition of 38 agencies, and the reversion of 14 agencies to departments in ministries and the management audit of 89 agencies capturing biometric features of staff as well as the discontinuation of government funding of professional bodies/councils.”
The lawmakers said if implemented, the government would be saving over N862bn between 2012 and 2015 with a breakdown which showed that “About N124.8bn would be reduced from agencies proposed for abolition; about N100.6bn from agencies proposed for mergers; about N6.6bn from professional bodies; N489.9bn from universities; N50.9bn from polytechnics; N32.3bn from colleges of education and N616m from boards of federal medical centres.”
They argued however that the White Paper Committee set up by Jonathan’s administration rejected most of the recommendations, while those accepted were not implemented.
“The House notes that in November 2021, the President Muhammadu Buhari administration inaugurated two committees; one of the committees Chaired by Goni Aji, a retired Head of Civil Service of the Federation, was to review the Orosanye report and the second committee, chaired by Ama Pepple, also a retired Head of the Civil Service of the Federation, was constituted to review agencies created between 2014 and 2021.
“The House also notes that upon submission of their reports, the Muhammadu Buhari-led Federal Government in July 2022 set up another committee chaired by Ebele Okeke, a former Head of the Civil Service of the Federation, to produce a White Paper on the reports.”
The lawmakers said implementing the Oronsaye Report 12 years after it was made without first reviewing it might not be in the best interest of the nation because by now, the report “ordinarily may be described as outdated, especially because of how dynamic the society, economy, polity, technology and all facets of our national life has been.”
“Contrary to the assumption that the full implementation of the report would reduce cost of governance, with the current realities, the full implementation of the report will not substantially reduce the cost of governance as it does not reflect the current situation in the Public Service of the Federation,” the lawmakers said, stressing that a full implementation “Will certainly throw up unintended consequences, implications and outcomes.”
Following the adoption of the motion, the House urged President Tinubu to “comprehensively review the 2012 Orosanye Report, the Goni Aji Report which reviewed Orosanye Report, the White Paper released by the President Jonathan administration, the Ama Pepple White Paper and the Ebele Okeke White Paper in line with current realities, while considering implementable alternatives that are in tune with current realities, and which at the same time would have minimum unintended consequences, impacts, implications and outcomes.”
The House also urged the Federal Government to develop and implement policies “that will reposition the agricultural sector, the solid mineral sector and the informal sectors which will serve as alternatives to those that may be laid off consequentially while at the same time spurring economic growth.”
The Speaker of the House of Representatives, Abbas Tajudeen, who presided over plenary on Thursday inaugurated a 23-man committee chaired by House Leader, Julius Ihonvbere, to recommend appropriate measures to mitigate the likely fallout of the review exercise.
“The committee is to study the recommendation of the executive arm of government and advise the House on likely impacts of this restructuring exercise,” the Speaker said.
[Punch]
The British Council in Nigeria has increased the fee for the academic international English language testing system (IELTS) examinations.
This is the second time the council will be hiking the examination fee this year.
Last month, the price was increased by 29 percent from the N107,500 that was being paid for the test.
IELTS on computer academic and general training modules was set at N139,000; IELTS on paper academic and general training modules was pegged at N134,000; the UK visas and immigration (UKVI) was increased to N149,000; Life skills: N130,000; and one skill retake (O.S.R): N87,570.
In an update on its website cited on Thursday, the council said it had reviewed the fees.
The new fee for IELTS on computer academic and general training modules is now N266,000; IELTS on paper academic and general training modules: N256,500; UKVI: N285,500; and life skills: N249,000.
“The above fees will be subject to review based on the prevailing market dynamics,” the council said.
“The change in fees is due to the evolving market dynamics and increased costs in the delivery of our exams.”
The council added that the updated prices for the IELTS range of tests will take effect from March 1.
In September 2023, the British Council increased the cost of IELTS from about N90,000 to N107,500.
At the time, the council said the new prices were necessary to sustain the high quality of standards for the testing experience.
[TheCable]
A former lawmaker, Senator Shehu Sani, said the Oronsaye Report is outdated and needs to be updated before implementation.
Sani stated this in an interview on Channels Television’s Politics Today on Wednesday.
Recall that the Oronsaye Report was commissioned in 2012 with the goal of rationalising and restructuring federal government parastatals, commissions, departments and agencies.
But, Sani said the report has become obsolete due to the proliferation of new agencies and commissions since its inception.
He said that legislators’ performance was often measured by the number of bills they sponsored or the creation of federal agencies and commissions resulting from their initiatives, thereby leading to a high number of federal agencies and commissions in the country.
Sani noted that the approach did not align with the country’s economic realities.
He said, “Most of these commissions were created by the National Assembly. When you are elected into office as a senator or as a member of the House of Representatives, one of the factors that they use to gauge your performance or stewardship in office is the number of bills you are able to sponsor, or the number of federal agencies that came out of your bills.
“And as such, you see every year, legislators come out with all sorts of ideas about commissions and agencies and boards and bureaus. But we don’t take cognizance of the fact that we are a poor country. A nation of 224 million people with such little resources.
“Some of the agencies that we created in this country are so irrelevant and useless. And it’s time that we implemented this report.
“But Oronsaye Report could have been updated. The President could have invited Oronsaye and his committee and said, ‘Update your report based on the new commissions and agencies that have been created after your report.’ Because as it’s now, the report is outdated.
“If you live in Abuja today, there’s hardly any street you will move without seeing an agency you never knew before. It’s either one commission on this or an agency on that.
“Now, look at the number of the agencies that came after Oronsaye Report. So if you look at what’s being done now, it’s simply ‘Let’s implement this without thinking that it has gone out of date.’
“So, the best thing now is to invite Oronsaye and ask him to update his report and then the government can implement it,” he said.
The Oronsaye Report was formulated in 2011 by the then-President Goodluck Jonathan under the Presidential Committee on the Rationalization and Restructuring of Federal Government Parastatals, Commissions, and Agencies.
The report aimed to streamline governance, reduce costs, and enhance efficiency.
[Vanguard]
Vice-Chancellor of the University of Ilorin, Professor Wahab Olasupo Egbewole, has asked professionals not to leave Nigeria in the hands of politicians.
He stated this in Abeokuta, Ogun state, while delivering a lecture titled: “Town Planners, Sustainable Development and Nation Building” at the 10th Waheed Kadiri Lecture Series.
The annual lecture is organised by the Ogun State chapter of the Nigerian Institute of Town Planners in honour of the former President of NITP, Waheed Kadiri.
Delivering his lecture, Egbewole, a Senior Advocate of Nigeria (SAN), insisted that professionals and not only politicians must build Nigeria.
He expressed danger in leaving politicians solely in charge developing Nigeria, saying “to a large extent, our decision-makers are planning illiterate”.
He said, “It is now more imperative to allow professionals build our nation than succumb to the manipulations of the few and octopus called government as represented by few misguided public officials.”
The Vice Chancellor charged town planners “to promote lively and self-sustaining communities, town planning propositions must be ingenious to foster mix of residential, commercial and recreational land uses and enforce zoning restrictions that allow for mixed-use projects, building a feeling of community and reducing commuting lengths, as far as practicable.
“Every plan should be people-centered. As a process, planning must follow the dictates of Peoples Leading in Addressing their Needs (PLAN) that allows the targeted beneficiaries to take leading roles in conception and settings.
“Town planners must prioritise and plan for efficient and well-maintained infrastructure, including transportation, utilities and public services that meet future requirements and provide fair access to essential services.”
In his remark, Kadiri called for strict implementation of government policies and plans on urban regeneration to prevent natural disasters.
[DailyTrust]