Buhari Approves N522.74bn Reimbursement For States Over PCD Over-deduction

President Muhammadu Buhari has approved the payment of N522.74 billion as reimbursement for states who were over-charged when Nigeria took a loan from the Paris Club, the London and other offshore lenders.

While Nigeria reached a final agreement for debt relief with the Paris Club in October 2005, some States had already been overcharged.

The Spokesman of Finance Minister, Festus Akanbi who revealed this yesterday in Abuja said the excess deductions also represent external debt service that arose between 1995 and 2002 as a result of First Line Charge deductions from the Federation Account Allocation Committee (FAAC) allocations.

He said work had since commenced to resolve each State Government’s claim, even as he added that the exercise is expected to take approximately 12 months.

He revealed that the first batch of N153.01 billion was currently being processed for release to 14 State Governments.

He said: “The Federal Government has reached a conditional agreement to pay 25% of the amounts claimed subject to a cap of N14.5 Billion to any given State. Balances due thereafter, will be revisited when fiscal conditions improve. The exercise will be thorough, including a complete reconstruction of records dating back to the period in question.

“In the interim however, State Governors have continued to appeal for release of payment on the grounds of fairness because some States had already received refunds under previous administrations. Mr. President’s overriding concern is for the welfare of the Nigerian people considering the fact that many States are owing salaries and pension, causing considerable hardship.

Therefore, to ensure compliance with the directive that a minimum of 50% of any amount disbursed is dedicated to this, funds will be credited to an auditable account from which payments to individual creditors would be made. Where possible, such payments would be made to BVN linked accounts and verified”, Akanbi explained.

On the request by State Governments for a refund of amounts owed by the Federal Government, Akanbi said President Buhari directed that claims be subject to verification by the Debt Management Office, stressing that a team was established and given the mandate to scrutinise claims and reconcile with available records.

“The brief for the team was also extended to include a review of interim payments made under previous administrations”, he stated.

The Minister’s Spokesman also added that reconciliation of states’ claims was ongoing, even as he noted that there was a possibility the final outcome might show an under or overstatement of claims.

“To this end, an undertaken has been signed by State Governors, declaring that in the event the amount already paid exceeds the verified claim, the surplus would be deducted directly from the State’s monthly FAAC allocations”, he said.

Akanbi maintained that the release of these funds was intended to support the fiscal stimulus programme of the President Muhammadu Buhari administration to provide direct stimulus through government spending.

“It is particularly aimed at boosting demand at consumer level and reversing the slowdown in economic activity”, he said.

Credit:

http://sunnewsonline.com/buhari-approves-n522-74bn-reimbursement-for-states-over-pcd-over-deduction/

 

FEC Approves N464m Vehicles For FRSC Amid Recession

The Federal Government, yesterday, blamed the nation’s economic recession on the downturn in the oil and gas sector, even as it expressed optimism in the improvement the non-oil sector is making. The government had however expressed hope that the fourth quarter figures would be better.

The Minister of Budget and National Planning, Senator Udo Udoma, who stated this while briefing State House correspondents on the outcome of the Federal Executive Council (FEC) meeting, presided over by Vice President Yemi Osinbajo at the Presidential Villa, Abuja, said the council observed that the nation’s economy was still in recession, with the third quarter turning worse than the second quarter.

Udoma, who briefed alongside the Minister of Information and Culture, Lai Muhammed, and the Minister of Labour and Employment, Chris Ngige, said the council reviewed the figures released by the National Bureau of Statistics (NBS) on Monday.

Udoma said, “we looked at the recent numbers released on Monday by the NBS. As you know, from these numbers, the economy is still in recession. The performance in the third quarter is slightly worse than the second quarter and this was attributable to the performance of the oil sector, which performed worse in the third quarter than the second quarter and that was for reasons you all know.

“However, the good news is that the non-oil sector is improving in the direction that is most encouraging to the government. Agriculture continues to grow at 12.5 per cent, solid minerals continue to grow at seven per cent. We are encouraged by the direction the non-oil sector is moving.

“With regards to the fourth quarter, we believe it will be better than the third quarter even for the oil sector because oil production has started moving up as a result of a lot of initiatives this government has been taking. We are looking forward to a fourth quarter that is much better than the third quarter. We are encouraged by that.”

Ngige said the council approved the purchase of vehicles worth N464 million for the Federal Road Safety Corps (FRSC).

The vehicles include 50 Pick-up vans to be purchased from Innoson Motors, Nnewi, and 27 Peugeot 301 cars to be procured from Peugeot Automobile Nigeria, Kaduna.

The Labour Minister said the decisions to patronise indigenous companies was in line with the government’s local content policy.

Ngige said, “the council approved the purchase of some vehicles to strengthen the capacity of the FRSC. It approved that 40 Pick-up vehicles be added to the commission’s fleet. Another 27 Peugeot 301 cars were also approved for the commission. This is in line with our Local Content and Procurement Act. The total purchase is N464 million. Innoson vehicles will cost N299 million while the Peugeot cars will cost N164 million.”

Credit:

http://sunnewsonline.com/recession-fec-approves-n464m-vehicles-for-frsc/

FG Approves N30bn Intervention Fund For Solid Minerals- Minister

The Minister of Mines and Solid Minerals Development, Dr. Kayode Fayemi, said on Tuesday in Abuja that the Federal Government had approved the release N30 billion intervention fund for solid minerals development.
Fayemi disclosed this at the fifth Extractive Industries (EITEI) Conference held by CSR-in-Action.
The theme of the event was: “Revisiting the Nigerian Economy beyond Oil: Prospects for a thriving Export-Driving Extractive Sector.’’
The Minister, represented by Prof. Okey Onyejekwu, his Senior Special Adviser, said the fund would be used for geosciences data generation, improve mines-field security and monitoring.
According to him, this is in line with the enforcement of the Nigerian Minerals and Mining Act of 2007.
He explained that the ministry was partnering International Development Partners through AFDB, the World Bank, UNDP, UNIDO and donor agencies such as DFID, and Ford Foundation to ensure development of the sector.
He said that the ministry had formulated a new roadmap for the sector since his appointment one year ago.
According to him, there has been an improved funding for the sector through activation of the 0.5 per cent mining sector component of Natural Resources Development Fund (NRDF).
The Minister promised to ensure the nation’s development partners are engaged to implement MoUs, especially those on geosciences data generation, integration, storage and dissemination.
He said government would ensure there was improved revenue generation and collection through identification and plugging of leakages.
He said the ministry would target five per cent contribution to the GDP by the year 2020 as against the current 0.34 per cent.
He said the current works on the standard gauge rail line from Warri to Ajaokuta Steel Company Limited and Nigeria Iron Ore Mining Company Limited, Itakpe, were key to Nigeria‘s industrialisation.
According to him, the resolution of litigation and conclusion of final stages of mediation meant that Ajaokuta Steel Plant would soon be freed of encumbrances and government would give it to a competent investor.
Earlier, Waziri Adio, Executive Secretary, Nigerian Extractive Industries Transparency Initiatives (NEITI) said Nigeria’s problem was not its dependence on oil but the leaders refused to save for the rainy days.
According to him, Nigeria’s leadershp in the oil boom era failed to invest in other sectors like petrochemical which would have helped to diversify the economy.
The ministry had also revoked non-performing mineral titles in line with the Nigerian Minerals and Mining Act, to make the area financially and technically viable for investors.
“If the nation should explore the economic recession well, diversify to solid minerals and do not make the same mistakes it made in oil sector, our economy will grow’,’ he said.

Credit:

http://sunnewsonline.com/fg-approves-n30bn-intervention-fund-for-solid-minerals-minister/

Buhari Approves Appointment Of New Heads For 13 Agencies

The drought of federal appointments receded Monday, as President Muhammadu Buhari approved the appointment of chief executives for 13 parastatals and agencies.

A statement by the Director of Press, Office of the Secretary to the Government of the Federation (OSGF), Mr. Bolaji Adebiyi, indicated that the president appointed Alhaji Usman Abubakar as Chairman of Nigerian Railway Corporation (NRC).

Others who got jobs in the fresh wave of appointments are: Princess Gloria Akobundu, named as the National Coordinator and Chief Executive of New Partnership for Africa’s Development (NEPAD); Mr. Ahmed Bobboi, Executive Secretary, Petroleum Equalisation Fund (PEF); and Mr. Mamman Amadu, Director General, Bureau of Public Procurement (BPP).

According to the OSGF, the president also appointed Mr. Joseph Ari as Director-General, Industrial Training Fund (ITF); Ms. Sharon Ikeazor, Director-General, Pension Transitional Arrangement Directorate (PTAD); Dr. Isa Ali Ibrahim, the Director-General, National Information Technology Development Agency (NITDA); and Mr. Osita Aboloma, Director-General, Standards Organisation of Nigeria (SON).

Mr. Simbi Wabote was named the Executive Secretary of Nigerian Content Monitoring Board (NCMB), while Mr. Umana Okon Umana becomes the Managing Director, Oil and Gas Free Zone Authority.
Ms. Sa’adiya Faruq is the new Federal Commissioner for National Commission for Refugees, Migrants and Internally Displaced Persons; while Ms. Yewande Sadiku will hold sway as Executive Secretary, Nigeria Investment Promotion Commission (NIPC).

At the Petroleum Technology Development Fund (PTDF), Dr. Bello Aliyu Gusau got the president’s assent as the Executive Secretary of the agency.

Credit: thisdaylive

Ambode Approves N15.5m For Varsity Entrepreneurs

Lagos State Governor, Mr. Akinwunmi Ambode has approved the sum of N15.5million as seed funding and grants for final year students enrolled in the Ready.Set.Work (RSW) programme.

Ready.Set.Work is an entrepreneurship and employability training program for final year students of tertiary institutions in Lagos State, aimed at preparing them for economic productivity as value-creating employees or employers of labour.

Commencing in June 2016, five hundred (500) promising final year students from Lagos State University (LASU), Lagos State Polytechnic (LASPOTECH), and Lagos State College of Health Technology (LASCOHET) have been enrolled in a rigorous curriculum either in the employability track or the entrepreneurship track.

At the end of the program, over 90 top performing students in the employability track will be placed in 6-month internship positions with organizations like PwC, SystemSpecs, FCMB, GTBank, Access Bank, TOTAL, Jobberman, Stutern, among others.

With Governor Ambode’s recent financial commitment to the Ready.Set.Work program, up to 80 students in the entrepreneurship track will likewise have the opportunity to partake in three to six-month entrepreneur apprenticeships where they can learn the tricks of the trade, understand and develop processes for various business functions, and build a network of vendors, industry peers, and mentors.

Speaking on the development, the Special Adviser to the Governor on Education, Mr. Obafela Bank-Olemoh said that the focus of the initiative from the onset was to provide students in Lagos State with the tools, knowledge, and know-how to become effective employees or job creators.

“We already secured 90 internship slots for students in the employability track of the program and we realized that students in the entrepreneurship track could also benefit from experience in a structured, supervised work setting, where they can learn the rudiments of running a business effectively,” he said.

Read More:

http://guardian.ng/news/ambode-approves-n15-5m-for-varsity-entrepreneurs/

Enugu Approves School Feeding For Pupils In Primary 1-3

Enugu State government has taken another giant stride to ensure quality and affordable education through the provision of one free meal daily for its pupils in primary one to three.

Governor Ifeanyi Ugwuanyi of the state who inaugurated a steering committee to drive this free meal project yesterday stated that his administration was not only committed to move education to the next level but that it would make the development projects in the sector sustainable.

Prof. Uche Eze who is the state commissioner for education heads the steering committee and explained during the inauguration that the introduction of the single free meal daily for pupils in primary one to three would stimulate sustained attention by the pupils as well as encourage school farming since the feeding is home-grown based.

Read More:

http://www.vanguardngr.com/2016/08/enugu-approves-school-feeding-pupils-primary-1-3/

Buhari Approves BoT For Ogoniland Cleanup

President Muhammadu Buhari has approved a 13-member Governing Council and 10-member Board of Trustees for the cleanup of Ogoniland in Rivers.

The Minister of Environment, Mrs Amina Mohammed, announced this in a statement by Permanent Secretary of the ministry, Dr Bukar Hassan, in Abuja on Saturday.

The minister said the structures would ensure inclusiveness, accountability, transparency and sustainability of the exercise.

Mohammed acknowledged the concerns raised by stakeholders on the perceived slow pace of the clean up, saying “Nigerians have a right to voice their concerns”, but called for patience.

“We have responsibility to deliver. The launch was the first step in a 30-year journey. We continue to make strides toward the implementation.

“We ask for patience as we lay solid foundations for the cleanup. The context is complex and stakeholders are diverse. All must be taken along”, Mohammed said.

According to her, Buhari remains steadfast in his conviction to see Ogoniland and other parts of the Niger Delta cleaned up.

She said the ministry was working with the Ministries of Petroleum Resources, Niger Delta, NDDC and key stakeholders in implementing the UNEP report.

The minister said the exercise was a collective responsibility and urged all the Niger Delta communities, especially the Ogonis, to support the remediation and restoration efforts of government.

The UN report estimated that the cleanup of Ogoniland could take up to 30 years with the initial remediation taking five years and the restoration another 25 years.

President Buhari inaugurated the clean up on June 2 at Bodo in Gokana Local Government Area of Rivers.

Credit: NAN

Buhari Approves Funds For Abuja Airport Runway

President Muhammadu Buhari has approved funds for the repair of the Nnamdi Azikwe International Airport, Abuja, runway.

The Federal Government said the repair would be handled by local contractors after the conclusion of a bid process.

The runway, which was designed and built in 1982 and expected to last for 20 years, is yet to witness any repair about 34 years after it was designed.

Speaking in Abuja after an inspection of the runway, Minister of State for Aviation Hadi Sirika said: “Government has responded and Mr. President has approved that funds be released for major repairs in the interim before a complete overhaul and rehabilitation of the runway is carried out.

“We have gone to BPP and sought their approval to short-circuit the system to address this national emergency. They have given approval and we have invited local contractors we can mobilise quickly to the site to carry out the repairs. The contractors that were invited include but are not limited to Julius Berger, PW, CCECC, Dantata and Sawoe, CGC, Reynolds and CRGC.

“The contractors came and were given access to the runway; they carried out research, inspected with a view to bringing their quotation from which we will select the best that can give us the best to restore the runway to a good degree that it can be used before major repairs and overhaul would be carried out.”

The minister noted that the repairs will give more strength to the runway.

Credit: Nation

Buhari Approves Fresh Probe Of Missing Chibok Schoolgirls

President Muhammadu Buhari has finally  approved the list of committee members to carry out  fresh investigation into the abduction of  over 200 girls  from Government Girls School, Chibok, Borno State on the 14th of April 2014, by  the terrorist sect, Boko Haram.
The President had in January this year during a meeting with the BringBackOurGirls campaign group directed the National Security Adviser, Maj. Gen. Babagana Monguno (retd), to set up a committee that will carry out a fresh investigation into the abduction of the girls from their dormitories.
A top government source said the committee is set to commence it’s work as the President has recently approved the list of members submitted to him.
According to the source, the President had instructed that the members should be contacted for consent before their names will be made public.
The source who pleaded anonymity said that the President  wants to get to the root of the matter and know what exactly  happened , adding that  findings from the investigation  will  facilitate the release of the girls.
According to the source, the committee’s  terms of reference  include amongst other things, to carry out fresh investigations on the abduction and the circumstances  surrounding it.
Recall that while some of the girls managed to escape from their captors, the whereabouts of most of them is still in doubt, though the President had in different fora said his priority was to see to the safe return of the girls. He had also said government had no credible intelligence on their specific location.
While President Buhari had on several occasions declared that his government had no concrete evidence on the whereabout of the girls, the Nigerian military had in April this year given the parents of the girls some hope, saying most of the girls were still alive and held in Sambisa Forest,  close to the Chad-Niger border.
Immediate past President, Goodluck Jonathan had in the wake of the abduction set up a 26-member fact-finding committee led by Ibrahim Sabo to investigate the abduction as well as ascertain the exact number of students missing.
The former government it appeared had also been in doubt as to whether the abduction actually took place. Submitting his report, Sabo had confirmed the abduction stating that “as most Nigerians already know, there were some persons who doubted whether any student was abducted from Government Secondary School, Chibok. On the other hand, for those who believed that there was an abduction, there were lingering doubts as to how such a number of kidnap victims were conveyed, considering also that information was sparse as to how the raiding insurgents evacuated the victims.”
Sabo’s committee had confirmed the abduction of 276 girls adding that 57 of the girls managed  to escape from their captors.
The rescue of Amina Ali in May this year, one of the girls who had given birth to a daughter during the period she was in captivity, had rekindled hope of the girls being found.
President Buhari who met Amina alongside her mother and brother, had said her rescue has opened a new window of hope and an opportunity towards getting vital information to help the process of getting the other girls.

Credit: Sun

FEC Approves $200 Million World Bank Loan For Lagos Infrastructure

The Federal Executive Council (FEC) on Wednesday approved $200 million World Bank loan for Nigeria’s commercial city, Lagos State, for infrastructural development.

The approval was made known to reporters after the FEC meeting by the Minister of Information, Mr Lai Mohammed and his Power, Works and Housing counterpart, Mr Babatunde Fashola.

According to them, the loan is part of a $600 million loan granted by World Bank for roads and other infrastructural development projects in Lagos State.

Mr Fashola said the first batch of $200 million was approved in 2010, but that subsequent batches were reportedly delayed by the last administration for political reasons.

“It suffered delays as a result of partisan political differences in the last dispensation.

“After the first tranche was disbursed there was freeze on the second tranche,” he explained.

Credit: ChannelsTv

FG Approves N407bn Payment To Oil Marketers

The Federal Government on Wednesday finally approved the payment of N407.07bn as fuel subsidy to oil marketers.

The payment was confirmed by the Minister of Finance, Mrs. Kemi Adeosun, through a statement issued by the Director, Press in the Ministry of Finance, Mr. Marshal Gundu.

The payments according to the statement include arrears from the 2014 financial year as well as payments for the current year.

The minister in the statement said the approval was given following a directive issued by President Muhammadu Buhari that the amount be paid immediately to the oil marketers in order to end the lingering fuel scarcity in the country.

It called on the oil marketers to reciprocate the action of the Federal Government by ensuring that all fuel queues disappear within the shortest time possible.

The fuel scarcity which has been on for about a month had caused severe hardship to Nigerians.

The minister in the statement said despite the dwindling revenues, the Federal Government is still committed towards ensuring that Petroluem products are made available to Nigerians.

Credit: Punch

FG Approves 2015 Civil Service Promotion Examination

Mrs Winifred Oyo-Ita, Acting Head of the Civil Service of the Federation (HOS), has approved the conduct of the 2015 promotion examination for officers on salary grade levels 06-13.

This is contained in a statement issued by Alhaji Mohammed Manga, Assistant Director (Media Relations), in the office of the HOS in Abuja on Tuesday.

According to the statement, the examination is scheduled to take place on Dec. 17, at the Public Service Institute of Nigeria (PSIN).

It added that a circular signed by the Permanent Secretary, Career Management in the office of the HOS, Mr Innocent Ogbonnaya, had already been issued to all government Ministries, Departments and Agencies.

According to the circular, eligible officers on Grade Levels 06-13, depending on the grade level, must have spent a minimum of two or three years on their present grade by Jan. 1, 2015.

Eligible candidates were advised to attend the screening and accreditation beginning from Dec. 14, at the Public Service Institute of Nigerian (PSIN), from 8.30 a.m. to 4.30 p.m.

According to the statement, all eligible officers are expected to come with one passport size photograph, the original and one photocopy each of staff identity card and letter of first appointment.

They are also to bring along with them, evidence of confirmation of appointment, birth certificate or declaration of age and letter of transfer, conversion, absorption or regularisation, if applicable.

Other documents required for the exercise, the circular said, include letters of last two promotions and academic credentials.

Credit: Vangard

Buhari Approves Appointment Of 18 New Permanent Secretaries

President Muhammadu Buhari has approved the appointment of 18 new Permanent Secretaries in Nigeria’s Federal Civil Service, replacing earlier sacked ones.

The President also approved the deployment of the Permanent Secretaries, collapsed some Ministries and announced the establishment of new ones.

The new ministries are; Information and Culture, Budget and National Planning, Agriculture and Rural Development.

Although no reason was given for the decision, the spokesman for the President, Mr Femi Adesina, said that the appointments and deployments were with immediate effect.

The newly appointed Permanent Secretaries are Mrs Ayotunde Adesugba, Mr Mahmoud Isa-Dutse, Mr Taiwo Abidogun, Dr. Bukar Hassan, Mrs Wakama Belema Asifieka, Mr Jalal Ahmad Arabi, Mr Sabiu Zakari, Mrs Obiageli Phyllis Nwokedi and Mr Aminu Nabegu.

Others are Mr Bamgbose Olukunle Oladele, Mr Alo Williams Nwankwo, Dr. Shehu Ahmed, Mr Ogbonnaya Innocent Kalu, Mrs Nuratu Jimoh Batagarawa, Mr Christian Chinyeaka Ohaa, Mr Bassey Apkanyung, Mr Louis Edozien and Dr. Ugo Roy.

A statement by Mr Adesina gave a breakdown of the deployment, as approved by President Buhari.

Credit: ChannelsTV

FG Approves 413bn Naira Oil Marketers’ Subsidy Claims

The Nigerian National Petroleum Corporation (NNPC) says the Federal Government has approved the payment of 413 billion Naira to oil marketers as outstanding payment for subsidy claims.

According to the NNPC, the payment would ensure that there would be no scarcity of the product.

“It is our belief that with the outstanding payment due to Oil Marketers now assured, the marketers and other downstream players will join hands with the NNPC to guarantee that the nation remains wet with petroleum products all year round,” the Corporation said in a statement by the Group General Manager, Group Public Affairs Division, Mr Ohi Alegbe.

The corporation also stressed that it had injected additional volumes into the market, in order to ensure zero fuel queues ahead of the festive season and beyond.

This, the Corporation intends to achieve in collaboration with its downstream subsidiary, the pipelines and products marketing company and other players in the supply and distribution of fuel nationwide.

Credit: ChannelsTV

INEC Approves 50 Observer Groups For Kogi, Bayelsa Polls

The Independent National Electoral Commission said it has approved 50 groups to observe the forthcoming Kogi and Bayelsa governorship elections scheduled for November 21 and December 5 respectively.

This is contained in the commission’s daily bulletin issued on Monday in Abuja.

The bulletin quoted the Director of Elections and Party Monitoring Department, Bala Shittu, giving the breaking down of the figures as 43 local and seven foreign organizations respectively.

It directed that the approved groups should obtain, complete and return Form EPMC 002 for the two elections from the Elections and Party Monitoring Department, INEC national Headquarters, Abuja.

It stated that the office would be opened, from 8 a.m. to 4 p.m. Monday to Friday, October 2 to October 23.

“The photographs of members of staff to be deployed by approved groups in the two states along with their names should be submitted in hard and soft copies to the said department latest October. 23.

“Late submission will not be entertained.”

Read More: premiumtimesng

Senate Approves $75m World Bank Loan For Edo State

The Senate on Thursday approved a 75 million World Bank loan for Edo state’s Development Policy Operation (DPO) as requested by President Muhammadu Buhari.

The approval followed the consideration of a single-prayer report of the ad hoc Committee on Local and Foreign Debt presented by Sen. Kabiru Gaya (APC Kano South).

The committee in its report urged the Senate to approve the loan, stating that the World Bank had already considered the state ready for it.

Sen. Adamu Aliero (APC Kebbi Central), in his contributions, said that Edo State had qualified for this loan, because the state had met the conditions set by the World Bank.

Aliero said that the loan would help increase the internally generated revenue of the state and, therefore, urged the Senate to approve it.

He also called on other states that have the capacity to borrow, to go ahead and take such loans, as long as they could utilize such judiciously.

The Leader of the Senate, Ali Ndume, while supporting the motion for the approval of the loan, encouraged other states with genuine needs to take advantage of such low interest loans, rather than the patronising commercial banks.

“The first tranche of this borrowing plan had already been approved by the senate and the World Bank has strict borrowing conditions– which the state has met.

“I therefore move that we approve this loan,” he said.

Read Morenigerianpilot