New NEITI Board Sets Agenda For Nigeria’s Resource Governance

The reconstituted board of the Nigeria Extractive Industries Transparency Initiative, NEITI, has outlined its priorities, saying it would translate the implementation of the global Extractive Industries Transparency Initiative, EITI principles into improved quality of life for Nigerians.

The chairman of the board, Kayode Fayemi, said at the inauguration of the reconstituted board in Abuja, that the transparency agency’s intervention in the extractive industries governance must help resolve some of the country’s key national development challenges.

Mr. Fayemi, who is also the minister of Solid Minerals Development, identified areas NEITI could impact to include ensuring that revenues from oil, gas and mining resulted in poverty reduction.

He said other areas are creation of jobs for the people; provision of security of lives and property; access to health care, education and social welfare as well as improved infrastructure.

Mr. Fayemi said Nigeria’s membership of the global EITI would have been meaningless without NEITI’s intervention in the extractive industry governance, leading to the realization of its goals.

The inauguration of the board preceded three-day induction programme for members of the board in Abuja.

The minister said the responsibility of the NEITI National Stakeholders Working Group was to develop and establish policy targets on how the implementation of NEITI Reports findings and recommendations could boost revenue generation.

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Why Board Appointments Are Delayed– Presidency

Key appointments into boards of ministries, departments and agencies (MDAs) have been held back because of a major restructuring of the executive arm of the government, the Senior Special Assistant to the President on Media and Publicity, Malam Garba Shehu, has said.
“A lot of people had expected jobs by way of key appointments in boards, ministries and  parastatals. That has been held back by the fact that the government and the president have promised a major restructuring of the executive. You know he has reduced the ministries to about 24 from 42. That will not go without concomitant challenges on the existing parastatals and agencies which obviously have to be modified to fit into shape and fix into the existing ministerial structure,” Malam Shehu told newsmen in Abuja at the weekend.

He said with the passage of the budget and the subsequent endorsement by President Muhammadu Buhari, Nigerians would begin to feel the positive impact of government’s programmes and activities as money would be released into the economy.
On the purported secret recruitments in federal government agencies, he urged Nigerians to wait for the outcome of the investigation launched into the issue by the National Assembly.
He, said, “I have been approached by a number of people who say can you give me a note to so so, so agency? A lot is happening in this country and I keep saying that Buhari’s government is not a government of notes. I guess that whoever is found doing that would get himself in trouble,” he said.

Credit: dailytrust

Manchester United Worth $1billion Less Than When Louis Van Gaal Took Over As Manager

Manchester United has suffered a spectacular financial decline in the last one year. It’s been revealed that over $1billion has been wiped off the club’s share price value from July 2014 to March 2016.

Dutch coach Louis van Gaal took over management reins at the club in the summer of 2014, after leading Holland to third place at the World Cup. Since he joined Man U, the club’s share price has dropped by $6.25. It went from $19.58 to $13.33, on the close of the New York Stock Exchange on March 23 2016. Over the same period, the US stock market has risen by 3 percent.

“Football clubs typically don’t present a particularly attractive investment proposition because their revenues are lumpy, and their employees are rather expensive,” said stock market analyst Laith Khalaf.

“Mistakes on the pitch can be costly for shareholders too – in 2015 Manchester United’s broadcast revenues dropped by £30 million as it failed to qualify for the Champions League in that season. So far this year things seem to be picking up with a bounce in revenues, but if the club fails to qualify for the Champions League this season, next year could be a fallow one for investors.”

FG To Begin Board Appointments January, Read How The Appointments Will Be Allocated

The federal government will begin board appointments for its agencies from the end of January.
A top source in the office of the Secretary to the Government of the Federation said the appointments would be done in phases.  “The first of such appointments will be out by end of January to begin with the ministries of education and agriculture.
“The templates are ready. The two ministries have the biggest parastatals and will have more impact on those expecting appointments,” the source said.
President Muhammadu Buhari is trying to have a great say as to the kind of people he intends to appoint as board members.  It is the same posture he adopted at the time he was forming his cabinet, but state governors are said to be in disagreement over this. “The governors made all manner of protests but the President told them to go and make their own boards and other appointments and leave him to do his,” the source said.
The source added: “Some people are still sending applications for board appointment. We want to use the board appointments to address the challenges we are facing in the party.
One of the members of the presidential committee on the reconstitution of the federal government boards of parastatals, agencies and commissions, last night described their assignment as ‘a daunting task’ but added that they have gone far.
The member, who spoke in confidence, said so far, they have identified issues in several parastatals, agencies and commissions that need to be addressed.
“Our work is daunting because it has to do with reorganising the affected establishments, bearing in mind the issue of federal character, expertise, economic potentials and political expediency. We have gone far in the work, but the most important thing we are considering is national unity,” he said.
Credit: DailyTrust