Echotitbits – Nigeria News

Category: National

DSS Summons ADC Presidential Candidate, Malaifa for the 3rd Time

The Department of State Services (DSS) has summoned for the third time, a former Deputy Governor of the Central Bank of Nigeria Dr. Obadiah Mailafia.

Malaifa, a banker turned politician and Presidential candidate of the African Democratic Congress in the 2019 election, has been in and out of interrogation rooms since he granted an interview where he stated that an unidentified northern governor was the leader of the terrorist group known as Boko Haram.

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On August 12 Mailaifa was guest of the DSS at the agency’s office in Jos. He was invited again on the 17th of August 2020 after he refused to back down on his claims.

Malaifa had claimed that weapons were distributed to several parts of the country during the lockdown, adding that terrorists had infiltrated Lagos, comments he later withdrew, stating that he got the information from a third party.

According to the latest invitation letter addressed to Mailafia, which was made available to journalists, the DSS did not reveal the reason for the invitation.

“It is true. I have been invited to their office in Jos. I was asked to appear at 11 am on Monday,” he told Punch.

Last month, Mailafia had approached a High Court in Plateau State for the enforcement of his fundamental rights to personal liberty and fair hearing in a bid to prevent the police from arresting him.

However, it was learnt that the security agents were being prodded by the Federal Government to ensure that the economist is arraigned in court.

The Nation had reported that in a telephone conversation, Mailafia lamented as unfortunate how two security agencies were investigating him at the same time.

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“This is one of the reasons why I am in court. I am being invited by the DSS and the police at the same time. It is an abuse of my rights,” he said.

“Please, pray for me. I have reasons to believe that my life is in danger and that some powerful political forces want to silence me forever for speaking the truth.

“For speaking on behalf of the Holy Martyrs — of thousands of innocent children, women, elderly and youths that have been killed in our beloved country,” Mailafia added.

September 11, 2020
Buhari-led Government Approves Additional N8.9bn COVID-19 Allowance For Medical Workers

The Federal Government has approved additional N8.9 billion to pay up the large chunk of the June 2020 COVID-19 allowance to all Medical Health Workers in the country.

This was disclosed by the Minister of Labour and Employment, Senator Chris Ngige, during the meeting between the Federal Government and the Nigeria Association of Resident Doctors (NARD) where a Memorandum of Understanding (MoU) was signed by both parties on Wednesday in Abuja.

NARD, which had embarked on a total and an indefinite strike in all Federal and State hospitals in the country demands payment of Medical Residency Training funding to all members as approved in the revised 2020 Budget, provision of genuine Group Life Insurance and Death in Service Benefits for all health workers.

The demands by the association also include payment of outstanding April/May and June COVID-19 inducement allowance, determination of revised hazard allowance for all health workers as agreed in previous meetings with relevant stakeholders, immediate payment of salary shortfall of 2014, 2015 and 2016, among others.

According to the Minister of Labour, payment of Special Hazard and Inducement Allowance has been concluded.

Ngige stated that the meeting was satisfied that the N20 billion already appropriated in 2020 COVID-19 budget has been exhausted.

He said the meeting, therefore, commended the Federal Government and Mr President for approving additional N8.9bn to pay up the large chunk of the June 2020 COVID-19 allowance to all Medical Health Workers.

He explained that the approval has been cash backed and the mandate sent to the Central Bank of Nigeria for payments to start with effect from Sept. 9, bringing the total disbursement to about N288 billion.

For the review of a Permanent Hazard Allowance for Health Workers, Ngige noted that discussion would commence after consultation with all stakeholders in the health sector.

Based on the principles of ability to pay, this would cover all health workers in a new Collective Bargaining Agreement (CBA) and that the meeting would be convened as soon as possible in that regards, Ngige said.

Speaking on the Provision of Personal Protective Equipment (PPE), Ngige said NARD had agreed that the Hospitals and Isolation Centres, have sufficient PPE.

He noted that government had paid the total sum of N9.3 billion (Nine billion, Three Hundred Million Naira) to Insurance Companies for Life Group Insurance and payment of death benefits for Health Workers and for the payment of death-in-service benefit to next of kin/beneficiaries.

Ngige added that the enrollment for the Group Life Insurance would be by the submission of nominal rolls by the various Health Institutions, which NARD had been mandated at previous meeting to accomplish.

Also decided at the meeting was that NARD should submit copies of claims already made to the Insurance Companies through the hospitals to the Ministry of Health for onward transmission to the Office of the Head of the Civil Service of the Federation that would ensure that the Insurance Companies pay the claims, adding that the Federal Ministry of Labour and Employment should also be copied in that regards.

Pertaining to the Universal implementation of the Medical Residency Training Act in all Federal and State Hospitals, the Minister said the 2020 Appropriation Act was revised due to COVID-19 pandemic.

He explained further that the N4 billion appropriated for Residency Training under a wrong heading for Medical Residency Training was to be vired before expenditure.

He said the process of amendment is therefore ongoing and is expected that this process and cash backing would be through in two weeks.

For the payment of outstanding 2014, 2015, and 2016 arrears, the meeting recalled that it had been agreed that the issue will be further discussed post COVID-19 and therefore, no agreement was breached.

The issue of Consequential Adjustment of the National Minimum Wage was also discussed as government promised to pay all owed arrears to members of the association including those in States Tertiary Health Institutions.

“It was noted that those affected were the Youth Corps Members and House Officers, who are regarded as ad hoc staff and for State Hospitals, the Federal Government can only be persuasive.

“It was recalled that NARD had been assigned the responsibility to submit a list from the defaulting hospitals to the Federal Ministry of Health for onward transmission to the Federal Ministry of Finance, Budget and National Planning, ” Ngige said.

However, the minister noted that parties agreed to the autonomy of states within the Federation, and as such, the issue of domestication of the Residency Training Act will be at the prerogative of State Governments.

According to him, the meeting agreed that the issue would be tabled at the National Economic Council and National Council of Health to persuade the states to domesticate the Act.

He also noted that on the issue Health Workers in the Medical Centres attached to Universities that the meeting agreed that workers had been tied with the ongoing strike by Academic Staff Union of Universities (ASUU) and negotiations concerning them would be on a different platform involving Federal Ministry of Education.

“In view of these Understandings, NARD will consult with her Executive Council within the next 24hours with a view to calling off the strike by September 10, 2020.

“Nobody will be victimized for any activity connected with or for participating in the industrial action,” Ngige said.

While giving his view of the meeting, NARD National President
Dr Sokomba Aliyu, said that the meeting was successful as a lot of pledges and agreements were reached with timeline.

“Following the outcome of this meeting, we are hoping that all of that will address the concerns of our members, so we shall be convoking a meeting immediate with our members on the way forward,” he said.

News Agency of Nigeria (NAN), reports that government agencies present at the meeting were representatives from Ministry of Health, Finance, Budget and National Planning and National Salaries, Income and Wages Commission.

September 10, 2020
Buhari Unveils Agenda 2050, Envisions 100 Million Nigerians Out Of Poverty By 2030
- Inaugurates National Steering Committee
- Agenda 2050 Succeeds Vision 20:2020
- Says New Development Plan Will Lift 100 Million Nigerians Out Poverty By 2030
President Muhammadu Buhari Wednesday in Abuja inaugurated the National Steering Committee to oversee the development of the Nigeria Agenda 2050 and Medium-Term National Development Plan (MTNDP) to succeed Vision 20:2020 and the Economic Recovery and Growth Plan (ERGP) 2017 – 2020.

According to a statement by Special Adviser to the President on Media and Publicity, Femi Adesina, the National Steering Committee for the development of Successor Plans to Vision 20:2020 and ERGP will be jointly chaired by Mr Atedo Peterside and Dr (Mrs) Zainab Ahmed, the Minister of Finance, Budget and National Planning.

Speaking at the inauguration, President Buhari said: ”The main objectives of these Successor Plans are to lift 100 million Nigerians out of poverty within the next 10 years, particularly given the World Bank’s projection that Nigeria will become the world’s third most populous country by 2050 with over 400 million people.”

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The President noted that it had become necessary to develop Successor Plans to the Nigeria Vision 20:2020 and the ERGP, which both lapse in December this year, in order to ensure continuity and efficiency in the country’s development planning.

On the mandate of the National Steering Committee, President Buhari said it would oversee governance structure comprising the Central Working Group and 26 Technical Working Groups for the important national assignment.

”It is my expectation that the Steering Committee will oversee the execution of key deliverables, including recommending measures to ensure the continuous implementation of the Plans even after the expiration of the tenure of successive Administrations – including legislation, if required.

”Such legislation may introduce much-needed rigour and discipline to the nation’s development planning as well as institutionalise planned outcomes for the future. I trust that our partners in the National Assembly will support us in exploring these reforms, ” he said.

President Buhari urged the National Steering Committee not to lose sight of the important role Nigeria plays on the continent as well as in the global community.

He said the Successor Plans must, therefore, be designed to sustain national development, as well as support regional and global strategic interests, as outlined in the African Union Agenda 2063, the ECOWAS Integration Agenda 2050 and the Sustainable Development Goals 2030.

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Underscoring the importance of national development planning, the President said if carefully conceived and diligently implemented, it can transform the economic fortunes of a nation.

”The Chinese experience is an example. It has resulted in lifting over 700 million people out of poverty over the last four decades.

”Indeed, China’s track record of positive economic growth, since 1992, was only halted in the first quarter of 2020, due to onset of the COVID-19 Pandemic.

”COVID-19 presents the world – and Nigeria – with a crisis as well as an opportunity. The current global health and economic crises give us an opportunity to think afresh and chart an optimal path forward, ” he said.

The President recalled that in February 2017 when he launched the Economic Recovery and Growth Plan, its objectives included, restoring and sustaining growth, investing in people and building a globally competitive economy.

On the other hand, he said Nigeria’s Vision 20:2020 was an articulation of the long-term intent to launch Nigeria onto a path of sustained socio-economic development.

”The ERGP shared this vision, which ensured that the country exited recession in 2017 and sustained growth in Gross Domestic Product until the recent global economic challenges occasioned by COVID-19.

”Over the decades, successive planning and visioning exercises have guided investment in human capital development, the implementation of our infrastructural roadmap, and supported social investment in our people’s lives and livelihoods, ” he said.

The President wished the committee success in its assignment, adding that he looked forward to receiving regular reports of deliberations.

On the composition of the committee, the President said in order to ensure a truly consultative, participatory and inclusive planning process, the membership will comprise representatives of one State governor from each of the six geopolitical zones, the Senate and House of Representatives, ministers and representatives of key agencies.

Other members of the National Steering Committee are major political parties, ALGON, captains of industries, Labour Organizations, youth organizations and women’s societies, farmers’ associations, traditional and religious leaders, people with special needs and members of the press.

”At the heart of the Successor Plans is the partnership between the public and private sectors, with Government as the enabler of private sector investment and industry,” the President said.

In her remarks, the Minister of Finance, Budget and National Planning, Dr Ahmed noted that lately, various zones of the country have been pursuing different economic cooperation within their areas.

She, therefore, urged that the new Plans consider the comparative advantages available in these regional blocs to build a virile Nigeria.

”Although the two National Plans are on their way out, the question that will remain on the lips of Nigerians and which we must be ready to provide an answer with little or no prompting as we progress with the preparation of the successor Plans, is how much the Plans have transformed Nigerian economy.

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”As the National Steering Committee for the preparation of the new Plans, we must therefore strive to give hope to the great citizens of this country with the quality of Plans that we are coming up with, ” she said.

Also speaking, the co-chair Mr Peterside pledged to work as a team, commending the President for making the Committee very inclusive.

”For a development plan to be successful, it has to be inclusive, people should be consulted, own it and believe it is working for them,” he said.

Photos:
September 9, 2020
Local Electricity Metre Manufacturers Decry Deferment of 1yr Import Tax

The Electricity Meter Manufacturers Association of Nigeria (EMMAN) says President Muhammadu Buhari’s approval of one year deferment of the 35 percent import adjustment tax (levy) imposed on fully built unit (FBU) electricity meters HS Code 9028.30.00.00 under the 2019 fiscal policy measures for the implementation of Economic Community of West African States (ECOWAS) common external tariff (CET) 2017 – 2022 will only encourage importation of the items, thereby developing the economy of other countries.

Speaking as a member of the Original Equipment Manufacturer (OEM) in the downstream of the power sector, Mr Kola Balogun, Chairman of Momas Electricity Meters Manufacturing Limited (MEMMCOL), said the removal is an indication that the government is more disposed to favour importation to the detriment of local production.

“The implication of this is that over 600million US dollars would be exported to China to import the approved 3million meters. This means we would further be developing another country’s economy and continue to increase unemployment, poverty and underdevelopment in our country.

“We are bold to emphatically say that we at MEMMCOL, have the local capability to bridge the metering gap if the right policy is put in place.

“This can be by way of financial intervention by the government whereby certain agreed percentage of the cost of meter supply would be advanced to us like the importers do with the Chinese and upon completion of installation balance payment would be made to us. We do not even mind to furnish a bank guarantee as our own commitment in such deal”, Balogun said.

According to the President, Nigeria Consumer Protection Network, Kunle Olubiyo, there is an urgent need for the Federal Government of to put in place a strict regime of sanctions against off-takers who have deliberately refused to accept indigenous technology and made in Nigeria pre-paid meters.

“As important as the vexed issue of metering is, there are other variables and extraneous factors that if not eradicated or boldly addressed once and for all, Nigerian electricity market shall remain an elusive growth and a vicious circle of stagnation.

“As a matter of fact, what we need now is a review downward of the presently discriminatory pricing of gas pricing methodology and disparity in the gas pricing business model with different pricing options for different Off-takers.

“Electricity consumers are increasingly being made to pay for fixed cost, padded cost, over bloated indexes of hyper-inflated cost of production of each Unit of electricity measured in kilowatt hour etc,” Olubiyo added.

EMMAN however appealed to the Federal Government to review its levies on imported electricity meters to promote full local content in the production of pre-paid meters.

EMMAN believes the approval is an incentive for mass importation of pre-paid meters as against upscaling of local production.

September 8, 2020
Buhari Gives Reasons for New Prices of Petrol, Electricity, Appeals for Understanding

President Muhammadu Buhari Monday attempted to justify the new prices of petrol and electricity, describing the timing of implementation of both tariffs as a mere coincidence.

Speaking at the First Year Ministerial Performance Review Retreat at the State House Conference Centre in Abuja, the President said increase in price of electricity and deregulation of the petroleum sector were crucial decisions that were taken at the beginning of the year, preceding the novel Coronavirus (COVID-19) pandemic.

He described the continuous delay in implementation of the policy of the “Willing Buyer, Willing Seller” and deregulation of the petroleum as detrimental to the economy, placing the burden of regular light cuts and fuel queues on Nigerians.

Buhari, whose speech was read at the event by Vice President Yemi Osinbajo, assured Nigerians of the willingness and determination of the Federal Government to provide stable electricity to every home and industry, while considering the economic challenges before individuals, families and businesses, explaining that “implementation of a Willing buyer, Willing Seller Policy for the power sector has opened opportunities for increased delivery of electricity.”

He added that the target of providing 11,000 megawatts by 2023 was realistic and realisable, and would provide a lifeline for many businesses and improve the living conditions of many Nigerians.

“Implementation of a Willing Buyer, Willing Seller Policy for the power sector, has opened up opportunities for increased delivery of electricity to homes and industries. We are also executing some critical projects through the Transmission, Rehabilitation and Expansion Programme, which will result in the transmission and distribution of a total of 11,000 Megawatts by 2023.

“On transportation, we are growing the stock and quality of our road, rail, air and water transport infrastructure. The Presidential Infrastructure Development Fund projects are also progressing very well. These include the 11.9 km Second Niger Bridge, 120 km Lagos-Ibadan Expressway, and 375 km Abuja-Kaduna-Zaria-Kano Expressway. At the same time, we are actively extending and upgrading our railway networks, as well as our airports which are being raised to international standard with the provision of necessary equipment, to guarantee world class safety standard,” he said.

The President said the COVID-19 pandemic led to severe downturn in the funds available to finance the nation’s budget.

According to him, “One of the steps we took at the beginning of the crisis in March when oil prices collapsed at the height of the global lockdown, was the deregulation of the price of Premium Motor Spirit (PMS) such that the benefit of lower prices at that time was passed to consumers.

“This was welcome by all and sundry. The effect of deregulation though is that PMS prices will change with changes in global oil prices. This means quite regrettably that as oil prices recover we would see some increases in PMS prices. This is what has happened now. When global prices rose, it meant that the price of petrol locally would go up.

“There are several negative consequences if Government should even attempt to go back to the business of fixing or subsidizing PMS prices. First of all, it would mean a return to the costly subsidy regime. Today we have 60 per cent less revenues, we just cannot afford the cost. The second danger is the potential return of fuel queues – which has, thankfully, become a thing of the past under this administration.

“Nigerians no longer have to endure long queues just to buy petrol, often at highly inflated prices. Also, as I hinted earlier, there is no provision for fuel subsidy in the revised 2020 budget, simply because we are not able to afford it, if reasonable provisions must be made for health, education and other social services. We now simply have no choice.

“Nevertheless, I want to assure our compatriots that Government is extremely mindful of the pains that higher prices mean at this time, and we do not take the sacrifices that all Nigerians have to make for granted. We will continue to seek ways and means of cushioning pains especially for the most vulnerable in our midst. We will also remain alert to our responsibilities to ensure that marketers do not exploit citizens by raising pump price arbitrarily.

“This is the role that government must now play through the Petroleum Products Pricing Regulatory Agency (PPPRA). This explains why the PPPRA made the announcement a few days ago setting the range of price that must not be exceeded by marketers. The advantage we now have is that anyone can bring in petroleum products and compete with marketers, that way the price of petrol will be keep coming down.”

On electricity, the President added that the recent service-based tariff adjustment by the DisCos had also been a source of concern for the government.

“Let me say frankly that like many Nigerians I have been very unhappy about the quality of service given by the DisCos, but there are many constraints including poor transmission capacity and distribution capacity. I have already signed off on the first phase of the Siemens project to address many of these issues.

“Because of the problems with the privatisation exercise, government has had to keep supporting the largely privatised electricity industry. So far to keep the industry going we have spent almost 1.7 trillion, especially by way of supplementing tariffs shortfalls. We do not have the resources at this point to continue in this way and it will be grossly irresponsible to borrow to subsidise a generation and distribution which are both privatised.

“But we also have a duty to ensure that the large majority of those who cannot afford to pay cost reflective tariffs are protected from increases. NERC, the industry regulator, therefore approved that tariff adjustments had to be made but only on the basis of guaranteed improvement in service. Under this new arrangement only customers who are guaranteed a minimum of 12 hours of power and above can have their tariffs adjusted. Those who get less than 12 hours supply, or the Band D and E Customers MUST be maintained on lifeline tariffs, meaning that they will experience no increase.

“Government has also taken notice of the complaints about arbitrary estimated billing. Accordingly, a mass metering program is being undertaken to provide meters for over five million Nigerians, largely driven by preferred procurement from local manufacturers – creating thousands of jobs in the process. NERC has also committed to strictly enforcing the capping regulation which will ensure that unmetered customers are not charged beyond the metered customers in their neighbourhood,” he noted.

On the timing of implementation, the President said: “There has been some concern expressed about the timing of these two necessary adjustments. It is important to stress that it is a mere coincidence in the sense that the deregulation of PMS prices happened quite some time ago, it was announced on 18 March 2020 and the price moderation that took place at the beginning of this month was just part of the on-going monthly adjustments to global crude oil prices.

“Similarly, the review of service-based electricity tariffs was scheduled to start at the beginning of July but was put on hold to enable further studies and proper arrangements to be made. This government is not insensitive to the current economic difficulties our people are going through and the very tough economic situation we face as a nation, and we certainly will not inflict hardship on our people.

“But we are convinced that if we stay focused on our plans, brighter, more prosperous days will come soon. Ministers and senior officials must accordingly ensure the vigorous and prompt implementation of the ESP programmes, which will give succour to Nigerians.”

Buhari, in a statement by his Special Adviser on Media and Publicity, Femi Adesina, pointed out that many Nigerians were yet to be connected to electricity, assuring that the Economic Sustainability Plan would provide solar home systems to five million Nigerian households in the next 12 months.

“We have already begun the process of providing financing support through the CBN for manufacturers and retailers of Off Grid Solar Home Systems and Mini-Grids who are to provide the systems. The Five million systems under the ESP’s Solar Power Strategy will produce 250,000 jobs and impact up to 25 million beneficiaries through the installation. This means that more Nigerians will have access to electricity via a reliable and sustainable solar system.

“The support to Solar Home System manufacturers and the bulk procurement of local meters will create over 300,000 local jobs while ensuring that we set Nigeria on a path to full electrification. The tariff review is not about the increase, which will only affect the top electricity consumers, but establishing a system which will definitely lead to improved service for all at a fair and reasonable price.”

He said the economy recovered from a recession and witnessed eleven quarters of consecutive GDP growth before COVID-19 pandemic, admonishing ministers and senior government officials to stay focused on delivering results that would improve the welfare of Nigerians.

The President said the government has continued to support the agricultural sector, the key to diversification of the economy, through schemes such as the CBN Anchor Borrowers Programme and the Presidential Fertiliser Initiative programme.

On security, Buhari said: “Nigeria’s Law Enforcement Agencies have significantly scaled up their footprint across the country. As part of the efforts towards strengthening our internal security architecture, the Ministry of Police Affairs was created.

“Amongst others, we have increased investments in arms, weapons and other necessary equipment, expanded the National Command and Control Centre to 19 states of the federation, and established a Nigerian Police Trust Fund, which will significantly improve funding for the Nigeria Police Force.

“We have also approved the sum of N13.3 billion for the take-off of the Community Policing initiative across the country, as part of measures adopted to consolidate efforts.”

Idowu Sowunmi

September 7, 2020
Nigerian Doctors in State-Owned Hospitals Begin Strike Amid Pandemic Struggle

Nigerian doctors in state-owned hospitals have begun an indefinite strike to drive home their demand for pay rise, improved welfare and adequate facilities.

The industrial action by the National Association of Resident Doctors (NARD), which began on Monday was confirmed by the group’s President, Aliyu Sokomba, who spoke to AFP.

National Association of Resident Doctors (NARD), President, Aliyu Sokomba speaks on “long-standing” issues leading to latest strike action. Photo- Channels TV.

As the nation struggles to curb the spread of coronavirus, the action of NARD, representing about 40% of doctors in Nigeria, will be the latest in a string of recent down-tool protest by doctors.

Sokomba, confirmimg that medics treating virus cases would join the strike action said: “There will be no exemptions.”

He reiterated that the provision of life insurance, a pay rise, payment of salary arrears as well as provision of adequate facilities for doctors as long-standing issues that have necessitated the strike action.

“We have arrears of 2014, 2015, 2016, salary shortfalls that were supposed to have been paid over six years ago, still pending.

“These are the issues we have and they appear not to have been addressed up till this day,” he said.

The NARD President, while lamenting the incessant strike actions by doctors occasioned by underfunding said the only condition for calling off the strike is when the Union’s demands were met, emphasising that “It is an indefinite strike”.

With over 55,000 Covid-19 cases recorded and 1,057 deaths, there are fears that healthcare capacity could severely hamper efforts towards tackling the spread and treatment of coronavirus across the country if this latest strike action persists.

Three months ago, when NARD staged a week-long strike over welfare and inadequate protective kits, doctors treating virus cases however remained on the job.

September 7, 2020
I’ve No Deal with Oilbank International Nor ADM Energy – Arthur Eze

Executive Chairman of Atlas Petroleum and Oranto Petroleum, Arthur Eze, has categorically denied recent news report of his involvement in a partnership with ADM Energy on the ongoing Marginal Fields Bidding Round in Nigeria.

On August 3, ADM Energy announced its successful pre-qualification in the Nigerian Government’s 2020 Marginal Field Bid Round, as the exclusive technical partner of Nigerian company, Oilbank International.

But, Eze on Thursday accused Oilbank International of fraudulently using his name and presented him as its Chairman, leading to media reports stipulating his partnership with ADM Energy.

“The misuse of my name and reputation is a blatant fraud. I am not involved in any shape or form in the management of Oilbank International, nor do I serve as its Chairman of the Board.

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“Consequently, neither I nor my companies Atlas Petroleum International and Oranto Petroleum have ever had in any way, shape or form, any discussion about a potential partnership with ADM Energy,” said Eze.

While the Nigerian Marginal Fields Bidding Round is expected to attract a lot of international partnerships to inject necessary capital and technology into the country’s marginal acreages, it’s the duty of foreign partners to do their due diligence before partnering with local entities.

“If Atlas Petroleum International wants to acquire and operate a marginal field, it can do so on its own rights and does not need partnership with small companies like ADM Energy or Oilbank International to pursue such an opportunity.

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“This is further demonstration that all stakeholders must adhere to President Muhammadu Buhari’s call to end corruption and promote sound and transparent business practices and corporate governance standards across the energy sector,” Eze added.

Idowu Sowunmi

August 28, 2020
Buhari, Abiodun Congratulate Adesina over Reelection as President of African Development Bank

President Muhammadu Buhari and Ogun State Governor, Dapo Abiodun, have congratulated President of African Development Bank, Akinwunmi Adesina, on his re-election for a second term in office.

Buhari, who felicitated with Adesina on behalf of the Federal Executive Council and Nigerians in general, explained that the news of the victory came during the Council of State meeting, which was attended by former heads of state, Senate President, governors, some ministers, and senior government officials.

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Buhari, in a statement by his Special Adviser on Media and Publicity, Femi Adesina, applauded reelected president’s versatility, experience at both national and international engagements, saying he believed that Adesina would “further deploy these qualities to energise the pan-African financial institution.”

He urged him to remain “focused and steadfast in pursuing the noble goals of making life better for Africans through various development plans, already captured as High 5s.”

The statement explained that the Secretary to Government of the Federation, Boss Mustapha, announced the good news of Adesina’s reelection to which Buhari led a round of applause immediately, saying: “He (Akinwumi Adesina) deserves it.”

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The Nigerian President extended appreciation to the African Union for its endorsement of Adesina much earlier, and to shareholders of the bank who worked tirelessly to ensure the return of the visionary leader.

Buhari rejoiced with family, friends and professional colleagues of Adesina over the re-election, while commending members of staff and Board of Governors of the bank for their consistent support for the former Nigerian Minister of Agriculture and Rural Development, and his management team.

While pledging full support of his government to ensure a successful tenure for the bank’s leadership, the Nigerian President prayed God to continue to strengthen Adesina and his team for greater good to the continent.

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In his congratulatory message to Adesina, who hails from Ogun State, Abiodun described his reelection as a blessing to Nigeria.

“On behalf of the good people of Ogun State, I congratulate Dr. Akinwumi Adesina on his re-election as President of the African Development Bank.

“It is not surprising, and it is indeed a blessing to our great nation, Nigeria to have retained leadership of the regional institution, when one considers the many developmental contributions by the bank to member countries.

“I wish him a successful new term that will steadily continue to take the African region to greater heights,” the governor said.

Idowu Sowunmi

August 28, 2020
President Buhari vows to improve education, healthcare others before May 2023

President Muhammadu Buhari Tuesday in Abuja assured Nigerians and the international community that his administration will use the remaining years in office to improve access to quality education, health care and enhance productivity, while listing nine priority areas.

The President, who received Letters of Credence from Ambassadors/High Commissioners of eight countries at the State House, said efforts were being made to sustain Nigeria’s position as profitable investment destination with unequalled incentives in all sectors, especially large market and flexible tax system which investors from various countries can take advantage of.

The Ambassadors/High Commissioners who presented their Letters of Credence are: Hocine Latil of Algeria; Luong Quoc Thinh of Vietnam; Dr Benson Alfred Bana of Tanzania; Traore Kalilou of Cote d’Ivoire; Abakar Saleh Chahaimi of Chad; Jamal Mohammed Barrow of Somalia; Brahim Salem El Mami Buseif of Sahrawi Arab Republic and Mohammed Alibak of Iran.

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The President told the diplomats about Nigeria’s priority, and the need to streamline on people-focused policies.

“In our efforts to achieve a realistic domestic and foreign policy, as well as national development, we have identified the following nine priority areas to guide our policy directions over the next few years.

“Build a thriving and sustainable economy; Enhance social inclusion and reduce poverty; Enlarge agricultural output for food security and export; Attain energy sufficiency in power and petroleum products and expand transport and other infrastructural development.

“Expand business growth, entrepreneurship and industrialization; Expand access to quality education, affordable healthcare and productivity of Nigerians; Build a system to fight corruption, improve governance and create social cohesion; and improve security for all.’’

Describing Nigerians as the “nation’s most prized assets’’, President Buhari said the nine priority mandates were already reflected in the Economic Recovery and Growth Plan, a medium-term initiative pioneered by the government to restore economic growth and development while leveraging the resourcefulness and resilience of the citizens.

The President urged the diplomats to use the opportunity of working in the country to improve relations with their governments and people.

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“I have no doubt that you might have prior and in-depth knowledge of Nigeria’s huge potential which you will hopefully see for yourselves. I therefore, urge you to go around the country, see things for yourselves and report to your home governments. This is important as you all are representatives of both your sending and host states.’’

President Buhari said Nigeria will remain steadfast in pursuing deeper and valuable relations among nations, without discrimination.

“Nigeria strongly supports joint action to ensure a democratic and fair world order based on strict respect for the norms of international law, the United Nations Charter, recognition of the unquestionable value of cultural diversity, national sovereignty, and the right of all countries to decide their future freely, without external pressure.

“Nigeria does not divide its partners into big and small; we value and respect every country, and with every country we are ready to pursue dialogue, as well as build cooperation on the basis of equality and constructive mutual respect.

“These include our cooperation in strengthening regional, continental and global peace and security, resolving complex issues, settling conflicts, as well as addressing dangerous threats to mankind, among which include terrorism, proliferation of small arms and light weapons, human trafficking, cybercrimes, poverty, communicable diseases and epidemics.’’

Speaking on behalf of the Ambassadors/High Commissioners, the Ambassador of Algeria to Nigeria said each of the diplomats brings greetings and agenda from their home governments, but the bottom line remains to enhance cooperation and seek advancement in mutual areas of interest.

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“On behalf of my colleagues, we thank you for receiving us. We know that your schedule is tight. As the giant of Africa, you are always focused on resolving conflicts in the continent, while taking care of your domestic issues as well.’’

The Algerian ambassador said the African ambassadors will leverage the opportunity to further enhance implementation of the African Continental Free Trade Agreement (AfCFTA) and learn from each other.

Photos:

President Buhari receives Letters of Credence from Ambassadors of Algeria, Vietnam, Tanzania, Cote d’ivoire, Chad, Somalia, Saharawi and Iran in State House on 25th Aug 2020

President Buhari receives Letters of Credence from Ambassadors of Algeria, Vietnam, Tanzania, Cote d’ivoire, Chad, Somalia, Saharawi and Iran in State House on 25th Aug 2020

President Buhari receives Letters of Credence from Ambassadors of Algeria, Vietnam, Tanzania, Cote d’ivoire, Chad, Somalia, Saharawi and Iran in State House on 25th Aug 2020

President Buhari receives Letters of Credence from Ambassadors of Algeria, Vietnam, Tanzania, Cote d’ivoire, Chad, Somalia, Saharawi and Iran in State House on 25th Aug 2020

President Buhari receives Letters of Credence from Ambassadors of Algeria, Vietnam, Tanzania, Cote d’ivoire, Chad, Somalia, Saharawi and Iran in State House on 25th Aug 2020

President Buhari receives Letters of Credence from Ambassadors of Algeria, Vietnam, Tanzania, Cote d’ivoire, Chad, Somalia, Saharawi and Iran in State House on 25th Aug 2020

President Buhari receives Letters of Credence from Ambassadors of Algeria, Vietnam, Tanzania, Cote d’ivoire, Chad, Somalia, Saharawi and Iran in State House on 25th Aug 2020

August 25, 2020
PSN to CBN: Give Us Special and Dedicated Foreign Exchange Allocation to Promptly Procure Equipment & Raw Materials

Pharmaceutical Society of Nigeria (PSN) has made a passionate appeal to the Central Bank of Nigeria (CBN) to consider making a special and dedicated allocation of foreign exchange to the healthcare/pharmaceutical companies so that they could procure their machinery/equipment and raw materials in a timely manner.

PSN, in a statement by its President, Sam Ohuabunwa, noted with pleasure that some healthcare/pharmaceutical companies that applied for the special N100 billion CBN facility have been granted.

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While pointing out that the majority of the applicants had not yet successful, PSN tasked CBN on the need to expedite the review and approval of many of the outstanding applications, so that the overall impact on industrial capacity, capability and output would be significantly enhanced in line with the noble objectives of the facility, especially as the novel Coronavirus (COVID-19) pandemic subsists and the need for self-sufficiency in local drug production persists.

Ohuabunwa added that some successful applicants have been experiencing difficulties in accessing foreign exchange in order to carry out their transactions.

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According to him, “The feedback we receive is that many of the beneficiary companies are experiencing tremendous difficulties in accessing foreign exchange to pay for the machinery and equipment in order. Many are compelled to source forex from sundry sources at much higher rates than the official CBN rate. The impact of this portends grave danger and may undermine the noble objectives.

“First, the longer it takes to get the machines and equipment in, the longer it will be for Nigeria to begin to see an enhanced local production.

“Second, the longer it takes, the more difficult it will be for the benefitting companies to begin production and generate cash flow to meet the interest and repayment obligation, as the moratorium is fast depleting.

“Third is that with forex at rates higher than the planned or forecasted rates in the business plan, the money received in Naira may no longer be sufficient to meet the stated needs.

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“And fourth is that the longer the Naira is left in the banks awaiting piecemeal allocation of Forex, the faster the value depreciates by growing inflation and the fewer the number of machinery and equipment or even raw materials that can be bought.

“All these will put an additional burden on the beneficiary companies when it comes to servicing the loans in a timeous manner.

“It is because of the foregoing and to preempt any future problems with prompt servicing of the loans that we make this special appeal to the CBN to consider making the special and dedicated allocation of foreign exchange to the beneficiary companies so that they can procure their machinery/equipment and raw materials in a timely manner, in order, that the beneficial effect of this noble program can be quickly realised and repayment made as and at when due so that the CBN will be encouraged to do more for the Pharma Industry and also to other sectors of the economy.

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“Ideally one would have wished that the loans were granted in two currencies: Foreign currency for equipment purchase and local currency for local purchase (information available in the applications and business plans of beneficiaries). This would have obviated the current challenges being faced by the beneficiary companies.

“Given the current and well-acclaimed responsiveness of our CBN leadership, it’s our hope that the CBN will accede to our request and help the industry to quickly optimise this earnestly prayed- for and long-awaited lifeline.”

Idowu Sowunmi

August 25, 2020