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Nigeria Targets 1.4 Million Jobs Yearly From Textile Industry

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By Dickson Pat 

Nigeria is targeting 1.4 million jobs as it collaborates with the International Cotton Advisory Committee ,ICAC, to revive the country’s moribund cotton/textile industry.

Disclosing this in a statement, the Vice- President’s Media Aide, Mr Stanley Nkwocha, said the government met with the ICAC at the Presidential Villa in Abuja, the nation’s capital, led by its Executive Director, Mr Eric Trachtenberg.

Chairing the meeting was the Vice – President  Kashim Shettima, where discussions centred on developing key components of the cotton value chain comprising farming, weaving, ginning and linking of cotton, all in line with the industrialization drive of President Bola Tinubu’s administration.

Mr Nkwocha stated that the target was to “create over 1.4 million jobs annually in the cotton/textile sector”.

The statement read, “Senator Shettima urged stakeholders to come up with a roadmap for the revitalization of the cotton/textile sector in Nigeria, noting that “it is time to work more and talk less”.

The Vice-President assured that “the Tinubu administration will make conscious efforts to ensure the country harnesses opportunities in the cotton value chain, including ensuring that Nigeria regains its ICAC membership”.

Mr Shettima thanked the delegation for the visit, just as he acknowledged ICAC’s commitment to the development of the sector in Africa.

“Your diverse backgrounds in ICAC gives a nuanced understanding of the complexities and opportunities in the cotton value chain”, he noted.

In his remarks, Lagos State Governor, Mr Babajide Sanwo-Olu, said his state was well positioned to harness opportunities in the cotton value chain, given that it hosts the factories, and the market and is a critical component of the business ecosystem for the cotton sub-sector.

The governor expressed excitement at the possibility and opportunity for the resuscitation of the cotton and textile sector with a particular focus on job creation and economic transformation.

Mr Sanwo-Olu pledged the state’s readiness to offtake cotton produced in other parts of the country for companies based within the area.

On his part, Governor Hope Uzodimma of Imo State said the meeting with the delegation from the ICAC is the beginning of Nigeria’s quest to revamp the textile industry as part of the broad objective for industrializing the economy.

He said Imo State and the Southeastern region will be key to the renewed effort to revamp the cotton/textile sector with the bid to create jobs for the people and for the overall industrialization drive of the country.

“The opportunity created by the meeting is a new beginning in our quest for industrial recovery and creation of jobs for our teeming youths as well as an opportunity for a new partnership”, Mr Uzodimma said.

FG ‘ll Grant Tax Break To Coys Employing More Staff – Wale Edun 

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By Charles Ebi 

Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has stated that the Federal Government is looking at granting outright tax break to companies employing more staff.

Also, the Federal Government will grant more import duties suspension for certain goods in a bid to curb the rise in inflation.

He stated this during an Exclusive interview on AIT’s Money Line where he stated that the measures are part of the inflation reduction Act to be signed by the President in a matter of weeks.

According to him, the fiscal measures are geared towards reducing the cost of production for businesses which has increased due to the weakness of the exchange rate and other policies introduced by the current administration.

He said, “The inflation reduction act will now contain a range of import duties, exemptions, lowering of tariffs, and outright tax breaks for employment. If you employ more people, you will be given a tax break against it. So, a range of fiscal incentives will be laid out in an executive order which Mr. President will in due course sign”. 

The Minister also revealed that the federal government spends around $600 million monthly on petrol imports. He mentioned that the high fuel import bill is attributed to neighbouring countries, extending to Central Africa, benefiting from Nigeria’s fuel imports.

Edun said there is a concerted effort to ensure homegrown food availability. According to him, in the short term, apart from distributing grains from the strategic reserves, a window has been opened for importation due to the President’s commitment to drive down prices and make food available immediately.

He assured everyone that this measure would not undermine local farmers, as importation would only be allowed after exhausting local supplies. Edun explained that one of the conditions for importation would be that all locally available produce in the markets or with millers has been utilized, with auditors in place to verify this.

FG has not approached CBN for Ways and Means advances, He noted that these interventions aim to reduce inflation, stabilize exchange rates, and lower interest rates, thereby creating a conducive environment for investment and job creation.

The Minister explained that they have not approached the Central Bank to request funds for paying government debts or salaries, known as Ways and Means. Instead, they have utilized market instruments to reduce what they owed, which is crucial for maintaining a strong economy.

He clarified that although the limit was raised to 10%, it does not necessarily mean it will be used. This increase serves as a fail-safe, providing extra flexibility to cover payments if there is a timing gap between incoming revenue and expenses.

Senate Probes $1.5bn Spent On P/Harcourt Refinery Rehabilitation

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The Senate has raised concern over 1.5 billion dollars approved in 2021 for the turn-around maintenance of the Port Harcourt Refinery with little or no result.

Sen. Opeyemi Bamidele, Chairman, Senate Ad Hoc Committee to Investigate the Alleged Economic Sabotage in the Nigerian Petroleum Industry, raised the concern during an interactive session with stakeholders yesterday, in Abuja.

Bamidele, who is also the Senate Leader, said it was unfair and wrong to treat public companies shabbily while private businesses were flourishing and thriving.

He recalled that the Federal Executive Council ,FEC, had approved the plan by the Ministry of Petroleum Resources to rehabilitate and turn around the Port Harcourt Refinery with 1.5 billion Dollars.

Bamidele expressed concerns about the dysfunctional state of government-owned refineries in spite of billions of dollars spent on turn-around maintenance.

“The federation is undergoing a truly challenging period. The distribution and supply of refined petroleum products has been irregular and problematic in the recent history of our fatherland.

“The long queues at filling stations are obviously a testament to this challenge.

“A situation, whereby we now depend almost entirely on the importation of these products even when we daily supply the global oil market about two per cent of its crude oil requirements is worrisome”, he said.

He said also of serious concern was the importation of hazardous petroleum products and dumping of substandard diesel into the country.

Under different administrations since 1999, Bamidele observed that the federal government “has invested billions of dollars to maintain and turn around the state-owned refineries in Kaduna, Port Harcourt and Warri. But the refineries are not functioning.

“In 2021, specifically, the Federal Executive Council approved 1.5 billion dollars for the turn-around maintenance of the Port Harcourt Refinery. Yet, this investment has not yielded significant returns.

“For us in the Senate, we believe, it is unfair and unpatriotic to treat government businesses or public corporations as an orphan while private businesses are flourishing and thriving”.

He said that the National Assembly was ready to carry out the investigative hearing with all sense of honour and responsibility.

Mr Mele Kyari, Group Chief Executive Officer of Nigerian National Petroleum Company Limited ,NNPCL, refuted claims of sabotaging domestic refinery.

“All of us here see what is happening in the media. Targeted personal attack on my person, on the institution. And we all know how this works.

“They are deliberate, they are calculated. So, that creates the impression that NNPCL and our leadership are doing anything to create economic sabotage in our country.

“It is far from it. This company has grown. We are proud to say this. From a lost company for 43 years to a profit-making company today”, said Kyari.

Also, Mr Heineken Lokpobiri, minister of state for Petroleum Resources, said that the oil sector was bedeviled by a lot misinformation.

“This Senate should do Nigerians a favour by televising the proceedings of this committee live.

“This will do a whole lot of justice not only to the Senate but we in the Executive and key leaders in the sector.

“Because of the fundamental nature of this investigation that has to do with alleged economic sabotage with importation of substandard products into the country, we urge the Senate to ensure we do a live broadcast”, he said.

He said government was committed to ensuring that local industries and all stakeholders in the oil sector were protected.

“We are committed to supporting Dangote Refinery; we are also supporting modular refineries and we have been resolving whatever issues they had brought to our attention”, the Minister said.

Also speaking at the investigative hearing, Mr Aliyu Suleiman, Chief Strategy Officer, Dangote Industry Ltd., said the refinery started full production in March.

“Since then, we have processed about 50 million barrels of crude. We have produced about five million tons of petroleum products and these petroleum products have been sold in various parts of the country”, he said.

Mr Wale Edun, Minister of Finance and Coordinating Minister of the Economy, in his own remarks, said the increase in crude oil production would stabilise the country’s foreign exchange market.

Tinubu’s Reforms Aimed At Addressing Past Mistakes, Says Information Minister

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Information Minister Mohammed Idris, has said that President Bola Tinubu’s administration’s primary goal is to rectify poor policies and dysfunctional choices that have historically hindered Nigeria’s progress.

Idris made this known while briefing the Diplomatic Community on the nationwide protest on Wednesday in Abuja.

Idris said: “Tinubu is addressing the poor policies and dysfunctional choices with bold and effective solutions, and not to impose hardship on Nigerians but to

“ Tinubu is determined to implement reforms that would drive sustainable growth and improve the quality of life for all citizens, stressing that the current challenges are only temporary.

“It is important to kick off on this note: that President Tinubu did not come to office to cause hardship or make life difficult for Nigerians.

“He has come to office with bold solutions to historical problems; with the determination to correct many of the poor policies and dysfunctional choices that have held us back as a nation for decades.

“The president assumed office during one of Nigeria’s most challenging periods in its history, where the country was spending 97% of all its revenue on debt service.

“This is coupled with widespread poverty, rising unemployment, dilapidated infrastructure, and insecurity.

Faced with these daunting realities, he said, the administration took decisive action and implemented long-overdue reforms to save the economy from collapse.

The Minister said for decades, the costly, wasteful and unsustainable fuel subsidy regime had denied Nigeria the opportunity to invest in critical infrastructure, social service, and the welfare of its citizens.

He added that as a result of the waste, Tinubu took a very painful decision to abolish the fuel subsidy.

“He then redirected the funds towards critical sectors such as healthcare, education, infrastructure, and security, which directly impact citizens’ well-being and the development of the country”.

The Minister explained that Tinubu was not under any illusion that the withdrawal of fuel subsidy and the harmonization of foreign exchange rates would not come with some transitional pains.

“That informed the decision of the Federal Government to design comprehensive intervention programmes to cushion the transitional pains.

“We have been very determined about ensuring that these interventions are fully implemented, and bring the intended relief to Nigerians,” he said.

On the nationwide protest, Idris said the government respects the right to peaceful assembly and freedom of expression, which are cornerstones of all democratic societies.

“But what began as a peaceful protest in some states and the Federal Capital Territory, was hijacked by elements who infiltrated the protest and orchestrated violent activities that destroyed lives and properties.

“There were reports of arson, vandalism, looting, and clashes with law enforcement agents in several cities. Tragically, these incidents led to the loss of innocent lives and significant damage to properties”, he said.

Idris, assured that the worst is over, adding that,  the Federal Government has launched an investigation into the violence that occurred during the protest in order to identify and bring to justice all those responsible.

“We are committed to preventing the recurrence of such unfortunate incidents in the future”.

FG Cautions Against Foreign Interference In Protests

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Federal Government has called on the diplomatic community in the country to shun interference in the ongoing nationwide protests.

It also called for collaborative support from the community in tackling economic challenges and ensuring better life for Nigerians at home and abroad.

The Minister of Foreign Affairs, Amb. Yusuf Tuggar, disclosed this yesterday in Abuja, at the briefing of Members of the Diplomatic Corps on the programme and policies of the government.

Tuggar who spoke on the aftermath of the protests said Nigeria is a country under the rule of law and assured that the government would do all it can to protect its citizenry.

According to him, no one can tolerate the thuggish behaviour of fringe elements and those who stand behind them, restating that government will not tolerate foreign interference in the protests.

“While government continues to work hard through various reforms to address challenges facing Nigeria and Nigerians, it is pertinent that no nation tolerates foreign interference in its domestic affairs and its citizens.

“Government will take appropriate action against any foreign entity residing in Nigeria found to have directly or indirectly supported protesters by whatever means or seeks to interfere in the internal affairs.

“Nigeria cherishes and will continue to value the cordial relationships that happily subsist between her, your countries and organisations and will not do anything to undermine or take for granted such relationships.

“Indeed, more than any time before now, we solicit your understanding and collaboration in the ongoing efforts of the government in addressing the economic challenges confronting the country.

“To achieve a better life for every Nigerian at home and abroad”, Tuggar said.

He reassured the diplomats that President Bola Tinubu understands the pains and frustrations driving the protests and had commiserated with the

families, and relations of those who died and promising to address concerns of Nigerians.

The Minister restated Tinubu’s appeal particularly to youths, advising them not to let violence and destruction tear the country apart as willingness to proffer solutions to issues that surround the protests.

He recounted that Tinubu had led a campaign against military dictatorship in Nigeria in the 1990s and believes in Nigeria’s democracy that freedom of assembly, freedom of expression and the right to dissent are fundamental.

Tuggar said, “While admitting there have been many dashed hopes in the past, Tinubu affirmed Nigeria is in a new era of Renewed Hope as the government is working hard.

“The results will soon be visible and concrete for everyone to see, feel, and enjoy. Consequently, the President has directed that the security operatives continue to maintain peace, law, and order in the country as the safety and security of all Nigerians is paramount.

KNSG Approves N2.67bn For Infrastructure Development

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 Kano State Government has approved ₦2.67 billion for infrastructure development in different parts of the state. This is contained in a statement by Sanusi Bature, the Chief Press Secretary to Gov. Abba Yusuf  yesterday in Kano.

He said that the approval had demonstrated the government’s commitment to infrastructure growth and efficient public service delivery in the state. Bature said that the State Executive Council ,SEC, gave the approval during its 17th meeting held on Wednesday, August 7, at the Government House.

“The decision is aimed at enhancing public services and promoting sustainable development across the state. These initiatives are designed to elevate public services and infrastructure across the state, addressing both current needs and future demands,”he said.

He said that the renovation and conversion of part of the state Library into an office complex for the Ministry of Transport, and offices of Special Advisers to the governor will cost N268 million. Bature said that the Computer-Based Test ,CBT, and Information and Communication Technology ,ICT, centre will gulp N309 million.

“The relocation, re-installation and upgrading of the Golden Jubilee Monument at Rabiu Musa Kwankwaso bridge will cost N164 million. The spokesperson said that N77 million was allocated for washout menace at an existing three-cell 900mm diameter ring culvert on Gwarzo-Shanono Road.

According to him, the filling of a two-km road from Riga to Karkari in Gwarzo Local Government Area with Laterite will cost N43 million.

“The revalidation and approval for outstanding payment for the construction of the Dangote Female Hostel, and landscaping at the Kano State University of Science & Technology, Wudil,  will cost N30 million,“he said.

According to him, the expansion of the scope of work at the AKTH bridge through Naibawa/Yar-Akwa Junction will gulp N275 million. The expansion of the scope of work at Zaria Road Flyover to Kwanar Dawaki will gulp N251million.

“He said that  N286 million will expended on the expansion  work at Hadeja Road/Ahmadu Bello Way Roundabout through Eastern Bypass Roundabout to Tokarawa”, he said.

Bature said that the sum of N455 million was approved for the purchase of five dump trucks for the Water Resources and Engineering Construction Agency ,WRECA.

He said the projects will collectively highlight the government’s proactive approach to addressing infrastructure challenges, and improving public services.

Bature said the projects will also foster economic growth and enhance the overall quality of life for Kano residents.

Dangote Refinery: Sales Of Crude In Naira Yet To Begin – Association

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dangote

From Rotimi Asher, Lagos 

Crude Oil Refinery-owners Association of Nigeria ,CORAN, has said that none of their members have begun receiving the sales of crude oil in the local currency, Naira.  

Echie Idoko, the Public Secretary of CORAN, made this disclosure in an interview with Channels TV on Wednesday.  

Recall that President Bola Tinubu through the Federal Executive Council ,FEC, approved the sales of crude oil to the Dangote refinery in the local currency to help create a seamless approach to accessibility and supply to the $19 billion petrochemical plant.  

Idoko, however, said that despite the pronouncement, steps needed to be taken to ensure the implementation of the new mandate by FEC.  

According to him, there have to be guidelines from the regulatory agencies that will explain the process of accessibility of crude in naira. 

“We have mentioned where we are on several fronts. As it stands right now, none of our members have started uplifting crude oil in Naira. Of course, we did mention that the pronouncement was welcoming, but there were still a few steps that had to be taken for it to become implementable. It was just a federal executive council statement. There is a need to be a regulatory framework that would enable us to access crude in Naira.  

“There has to be a guideline as to how we can access. We have to know exactly what quantity is coming to us in Naira. All those details have to be worked out. We know it’s a recent pronouncement, so we will give the government the benefit of the doubt.  

“We are hoping that in the coming days, there will be sitting down with us as stakeholders because you can’t shave a man’s head in his absence. We are hoping that our members should be part and parcel of the processes”, the CORAN chairman said. 

The Federal Executive Council ,FEC, had approved the sale of crude oil to the Dangote refinery in Naira to ensure availability and accessibility to the plant as well as reduce the pressure on the foreign exchange market.  

The approval, which came following weeks of conflicts between Dangote and the oil and gas regulatory agencies, provides a lifeline for the refinery to get crude from NNPC in local currency.  

The new directive will see the 450,000 barrels of crude earmarked for domestic consumption sold to Nigerian refineries in Naira, with Dangote Refinery serving as the pilot for this initiative. 

In addition, the $19 billion refinery will also sell its refined products to Nigeria in naira, ensuring a seamless transaction process in the mid and downstream sectors.  

The Dangote Refinery has come into conflict with Nigeria’s oil regulatory bodies, particularly the Nigerian Midstream and Downstream Petroleum Regulatory Authority ,NMDPRA, in recent times.  

The latter accused the oil company of selling low quality diesel, inferior to the ones imported into the country.  

On his part, Aliko Dangote, the owner of the refinery, has vehemently denied these allegations, adding that his plant produced the best quality diesel in Nigeria.  

Following this controversy, President Tinubu announced the approval of sales of crude oil to Dangote refinery in Naira, to ensure availability to the plant.

Reps Monthly Salary Is N600,000, Not N900,000, Says Spokesperson

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niger

House of Representatives’ monthly salary is N600,000 as against the N900,000 that is being speculated, says Hon. Akin Rotimi.

Rotimi, who is the Spokesperson of House. made the clarification in a statement he issued yesterday in Abuja.

He reaffirmed the commitment of the house to the 50% deduction in their salary to reduce hardship.

“The House of Representatives has been inundated by some media outlets reporting claims of discrepancies in the salaries of members, suggesting that we received 100% of oir July salaries.

“The report claimed that our salary amounted to N936,979

“We wish to clarify that the actual monthly salary for members is N600,000, after deductions for advances such as housing, which are paid at the commencement of the tenure”, he said.

He said that the member who displayed his salary on a TV programme was an exceptional case, because he assumed office through a court decision many months after the on-boarding process was concluded.

He said that the House remained committed to the resolution passed on July 18, which mandated a 50%  reduction in the salaries of members for six months.

“We acknowledge and regret that this resolution was not implemented by the bureaucracy as intended for the month of July.

“Resolutions of the House are ratified when the votes and proceedings of plenary are adopted on the next legislative day. Consequently, the bureaucracy was only formally instructed on July 23″.

He said that the delay in the implementation was due to necessary administrative procedures and coordination with financial institutions.

He added that instructions for adjusting salaries had since been issued and would be enforced moving forward to ensure its pledge is fully realised.

Organisation Urges Tinubu To Restrategise Approach In Addressing Hardships

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 Katsina State chapter of the Jama’atu Izalatil Bid’ah Wa Iqamatus Sunnah, ,JIBWIS, has called on President Bola Tinubu to restrategise his approach in addressing the economic hardship in the country.

The leader of the Islamic sect in the state, Sheikh Yakubu Musa-Hassan, made the call on Wednesday in Katsina during an interactive session with journalists.

He also called on protesters to shun such an act, as it was not the best, considering the existing security situation in some parts of the country, urging them to rather embark on a national prayer.

Musa-Hassan further gave an example with the incident of vandalism, stealing and killing as a result of the protests as the reason they have called on the youths to sheath their swords.

He, therefore, called on parents to always call their children to order, so as to avoid their involvement in such nefarious acts.

The  cleric said, “The protests should serve as a lesson to the state Governors and Tinubu, in order to restrategise their approaches in addressing the dire economic situation in the country.

“Tinubu should adopt the follow-up method in ensuring that whatever support he released to be shared to the people reaches those that are in dire need of it, but not to be shared to politicians.

“Many people were not aware of such financial and food support from the Federal Government, therefore, the president should restrategise.

“Giving food and money to that in need is not enough, the government should teach the youths entrepreneurship for them to be self-reliant”.

Musa-hassan called on those that the Federal Government saddled with the responsibility  of sharing such largesse to the public to fear Allah and deliver it to the people it was meant for.

According to him, failure to do so, they should await the punishment from Allah on the judgment day, where they have nothing to pay with, except with their little good deeds.

He also responded to social media reports alleging that JIBWIS was given Federal Government’s rice for distribution to people, saying “I have never seen a single bag of such rice.

Military To Enhance Joint Operations, National Security Response

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Participants of Services’ War Colleges yesterday, concluded the Strategic National Exercise/Joint Operations Planning Exercise, nicknamed “Ex SKY LOCK”.

The exercise is designed to promote joint operations and enhance national security response,

The Commandant of the Naval War College, Rear Adm. Abdullahi Ahmed, said the exercise is aimed to equip participants with  skills to effectively respond to contemporary security challenges facing Nigeria.

Ahmed said that the exercise served as a strategic exercise that culminated in  the Professional Military Education ,PME, packages at the National Defence College ,NDC, and the three services war colleges.

He said the exercise covered various national security aspects, including strategic assessments, inter-agency coordination, logistics planning, and operations against terrorism and insurgency.

Ahmed said that while the participants were educated on various aspects of operations in the classroom, the exercise was the training aspect to cap all the education activities.

According to him, the significance of the exercise is to pull through all what they have learnt in the classroom.

This, he said,  would help them to see the workability and to identify where gaps existed  so as to be able to fix it in the event of any real scenario.

“Ex Sky lock is all about training and enhancing participants’ ability in the act of operational warfare in terms of our  current challenges, such as internal security issues, militancy and the like.

“At the end of the course, my expectation is for them to go to the field well prepared as operational commanders, to be able to pull through any task given to them, to carry out and achieve all the objectives as expected”, he said.

The commandant commended the participants for their dedication and effort throughout the exercise.

He emphasised the importance of applying the knowledge and skills gained during “Ex Sky Lock” to their respective operational engagements to strengthen national security.