All Posts in "Day: July 19, 2022"

TUC Elects Osifo As New President

The National President of Petroleum and Natural Gas Senior Staff Association of Nigeria, (PENGASSAN), Comrade Festus Osifo has emerged as the new President of the Trade Union Congress, (TUC).

He emerged as the body’s new helmsman on Tuesday, July 19th at the International Conference Centre, Abuja during the 12th Triennial National Delegate Conference of TUC.

The returning officer, Comrade Shehu Mohammed,who announced the result, disclosed that 728 delegates participated in the election with Osifo pulling 688 votes to defeat his opponent, Comrade Oyikan Olasanoye who had 18 votes. Twenty two votes were declared invalid.

Osifo,who assumed office as President of PENGASSAN in August 28, 2020 had earlier served amongst others, as PENGASSAN Producers Forum Chairman, between 2016 to 2018.

The Edo -born unionist is a first class graduate of the University of Portsmouth. He’s also an alumnus of the Petroleum Training Institute (PTI).

He holds a Master degree in Petroleum Engineering from Herriot Watt University, Edinburgh, United Kingdom.

He is a member of the Nigeria Society of Engineers (NSE), Council of Registered Engineers of Nigeria (COREN) and Society for Petroleum Engineers (SPE).

Comrade Osifo,in his acceptance speech,promised to fight for the welfare of the masses as well as the protection of the interest of every Nigerian workers.

He commended the past leaders of the Congress for laying a solid foundation on which the body thrives and vowed to sustain the vision for the benefits of all.

Osifo promised to carry everyone along in his quest for a greater TUC,while also pledging to initiate moves to placate all aggrieved members of the union.

admin by — July 19, 2022 in Labour/Human Resources 0
Nigeria Becomes Member Of Beneficial Ownership Leadership Group

President Muhammadu Buhari has approved Nigeria’s membership of the Beneficial Ownership Leadership Group with the Corporate Affairs Commission.

Prince Clem Agba, Minister of Budget and National Planning,who disclosed this on Tuesday at the 16th OGP National Steering Committee (NSC) in Abuja, said the Nigerian Open Government Partnership(OGP) National Steering Committee would continue with the implementation of the mandate to design, develop and establish the public Register of Beneficial Owners of companies in Nigeria.

He explained that this move was in line with Nigeria’s commitment to implementing a public register of Beneficial Owners of Corporate Entities operating in Nigeria.

The approval,he said,was sequel to the continuous support of President Buhari for beneficial ownership in Nigeria that includes the signing of the repeal and re-enactment of Companies and Allied Matters Amendment Act (CAMA) 2020 which made clear provision for collection and publication of Beneficial Ownership information.

He added: “The Beneficial Ownership Leadership Group membership will allow the Corporate Affairs Commission to access technical assistance and peer learning opportunities from this Group of countries and partners working on the global adoption and implementation of the Beneficial Ownership Register. Nigeria is already enjoying benefits from this Group, including receiving $400,000 in funding support from the Open Government Partnership (OGP) Multi-Donor Trust Fund Managed by the World Bank.

“Nigeria’s effort in the implementation of Beneficial Ownership Transparency won the 2021 OGP Impact Awards for Africa and the Middle East.”

The minister noted that the greatest success of the National Steering Committee would be the successful institutionalisation of OGP principles in Nigeria.

According to him, “We have done so much to this effect, let me plead with us all to make concerted efforts to sustain this feat. Today in Nigeria, 23 out of the 36 states have keyed into the OGP and this also includes AMAC in the FCT. Some of these have finished their first State Action Plans and have commenced the second, while others are still implementing their first.”

Speaking, Chief Operations Officer of Nigerian Economic Summit Group(NESG)), Dr. Tayo Aduloju, said the approval of the Nigeria’s membership of the Beneficial Ownership Leadership Group was a critical anti-corruption mechanism, as it would allow Nigeria to join the league of other nations that can collaborate in the fight against corruption.

He said monies stolen from Nigeria could be tracked easily, adding that it will be a deterrent to illicit flows of money from group of countries and partners working on the global adoption and implementation of the Beneficial Ownership Register.

He commended the President for the achievement, adding that Nigeria would now lead discussions on open registers in terms of delivering a world class register.

admin by — July 19, 2022 in News 0
We Won’t Suspend Strike, ASUU Insists

The Academic Staff Union of Universities (ASUU) has ruled out the possibility of suspending its six months old strike.

The university teachers disclosed this on Tuesday during a meeting at the University of Abuja campus.

They accused the Ministry of Labour and Employment, chaired by Dr. Chris Ngige as “Conciliator” for continuously creating more chaos in the resolution process.

President Muhammadu Buhari had Tuesday reportedly directed the Minister of Education Adamu Adamu to end the strike in two weeks.

ASUU President, Professor Emmanuel Osodeke,who chaired the teachers’ Tuesday’s meeting,said the union will never suspend Strike but ensure it put a permanent end to it.

He said:”ASUU therefore makes bold to say that the Minister of Labour and Employment has taken upon himself the role of unabashed protagonist in our ongoing dispute with the government of Nigeria for some inexplicable reasons. Dr Ngige earlier told whoever cared to listen that he was not the employer of university academics and advised the union to march to the Ministry of Education. Nigerians may wish to know why he has suddenly turned around to constitute himself into impediment to an amicable resolution of the ongoing crisis.”

The union said it remains focused on its goal of making the Nigerian University system internationally competitive and getting its products to stand shoulder-to-shoulder with their peers in any part of the world.

“We appreciate the teeming Nigerians for identifying with our vision in this respect. We specifically acknowledge the support and sacrifices of our students (including our members who are running their postgraduate programmes) as well as their parents; they are our critical partners in this transformation project. We in ASUU shall do our utmost best not to let you down.

“ASUU appreciates your concerns and sympathetic support. We are as bothered as you are because we share a common interest in the Nigeria project. However, ASUU shall continue to be guided by the sacred canons of integrity, objectivity, and responsibility to which both academics and media practitioners subscribe.

“It is our fervent hope and desire that the current groundswell of interests would culminate in a convergence of solutions to this avoidable crisis in the overall interest of Nigeria Together, we shall win. The struggle continues,” he said.

Osodeke said if Ngige means well as a “conciliator, he won’t be putting roadblocks on the path to completing a process that has dragged for more than five years.

“The Ministry of Labour and Employment, as the chief labour ministry of the country, is principally expected to apprehend disputes between employers and employees with a view to settling such disputes.

admin by — July 19, 2022 in News 0
Transition: NNPC ‘ll Compete Favourably With Global Oil Firms -NEITI

 

The Nigeria Extractive Industries Transparency Initiative (NEITI) says the Nigeria National Petroleum Corporation is now in a better position to compete favourably with leading international oil companies around the world following its transition to an independent limited liability company

NEITI also said it welcomes the NNPC’s
transition in line with the recommendations of NEITI industry reports for the oil and gas sector covering 1999 to 2019 which equally led to the emergence of the Petroleum Industry Act 2021.

A statement signed by Mrs. Obiageli Onuorah, Head, Communications and Advocacy, said in the NEITI oil and gas reports that covered 1999 – 2019, the agency has consistently recommended that Nigeria’s national oil company should be privatized to make it competitive like other national oil companies across the globe.

NEITI’s Executive Secretary, Dr. Orji Ogbonnaya Orji who was at the unveiling ceremony held in Abuja today expressed hope that with this transition to a commercial entity, the NNPC is now in a better position to compete favourably with leading international oil companies around the world.

“Nigeria needs a business oriented NNPC to deliver the country’s energy needs, energy transition, energy security, diversification of its economy and the building of a sustainable energy future for the country”, Dr. Orji added.
NEITI’s Executive Secretary further explained that the immediate challenges that the new NNPC needs to tackle is to free Nigeria from fuel importation.

He added that: “The immediate questions that an average Nigerian is asking are what is likely to change from the NNPC we know and the new NNPC Limited? What will happen to jobs, institutions, profit making, transparency and accountability?”

He commended the new team in NNPC and the present administration for the political will to get this reform done. Dr. Orji expressed confidence that the NNPC Ltd will leave up to its obligations as a supporting company of the global EITI.

The agency reiterated its call on the federal government to replicate the same feat for the solid minerals sector.

According to the transparency boss, “Nigeria’s solid minerals sector also needs a holding company similar to NNPC Limited.

NEITI is advocating for the NLNG model which has proven to be sustainable, profitable and accountable. Despite the challenges faced by the oil and gas sector during the Covid-19 pandemic, NLNG in Nigeria posted profits and even dividends.

This is remarkable”, Dr. Orji enthused.
With this unveiling, some of the provisions in the PIA have been met, while NNPC ranks among national oil and gas companies to be publicly listed in Africa with an initial share capital of N200Billion and net assets of more than $59Billion.

NEITI is confident that the Petroleum Industry Act Steering Committee (PIASTEERCO), to which it is a member, will ensure that the provisions of the PIA are implemented to the letter and Nigeria’s oil and gas industry is positioned for a profitable and sustainable future.

admin by — July 19, 2022 in Oil&Gas 0
Consumers Kick As NNPC Raised Pump Price Of Fuel

 

Stakeholders and consumers of fuel in Nigeria,today,expressed discontent over the sudden adjustment in the pump price of the product by the Nigerian National Petroleum Company.

They said the development shows that the Federal Government was unconcerned about the prevailing poverty in the land and the agony Nigerians are experiencing due to the huge cost of energy in the country.

They also punctured the NNPC for adjusting the pump price of fuel,saying the Petroleum Industry Act does not empower it and other institutions to play such role in the country’s energy value chain.

Wunmi Iledare, an energy expert,said the Petroleum Industry Act does not empower any institutions to set the price of petroleum products in the country.

He added that government can suspend taxes on petroleum products and food to ameliorate consumers discomfort

Kunle Olubiyo, President, of Nigeria Consumer Protection Network,told PREMIUM NEWS that the adjustment in the pump price of fuel still leaves much to be desired for most Nigerians battling excruciating energy prices in the country.

He explained that the essence Petroleum Industry Act is to give room for
pump prices that are not necessarily in uniform,market driven and price determined

He added:”In the case , as end users ,
we are worried that the shelf prices ,the freight charges and padded cost of compensation for price gold plating and general in built prices of bureaucratic overheads and bureaucratic unefficiencies might still be factored in or loaded in the
price modulation and temperature used in arriving at the final pump price taking into account all the variables .

“The pump Prices may not be realistic at
the end of each exercise or adjustment.This has been the case over decades.Moving on,unless Nigeria as a country produces what the citizens would consume locally,the country will continue to be at the mercy of global Market distortions and other global energy market induced energy crises and attendant variation in this regard”

Another stakeholder,Yusuf Shaibu Obosi,expressed concern over the adjustment in the pump price of fuel,saying the development was unbecoming of the country in the face of massive hunger in the land.

He added:” Sometimes I wonder what those in position to make life better for us have conscience most of those in power today were increase in pump price and claimed there was no subsidy and called it fraudulent . Almost 8 years in power no plan to solve the petroleum problem instead we kept paying more with income depleting . I wonder what will be their selling point when campaign for election opens”

The Major Oil Marketers Association of Nigeria,MOMAN,had last week said the N165 pump price of fuel was no longer feasible on account of skyrocketing landing cost and the Russian /Ukraine war which has jerked up global energy cost.

The association implored the government to consider adjusting the pump price of fuel as well as gradual withdrawal of fuel subsidy in order to guarantee Nigerians unhindered access to petroleum products.

The Nigeria National Petroleum Company,had Tuesday, raised the prices of fuel above N165 per litre across regions of the country.

According to the regional price list effective from Tuesday, the rate rose from N165 to N179 per litre in the south west, south south and southeast regions.

The price was raised to N184 in the north west and N189 in the north east being a N24 increase, the highest in the new adjustment.

Petrol will now sell at N179 in the north central region. Although the product will sell for N169 in Lagos, marketers will sell for N174 in Abuja.

There is also an upward adjustment in the ex-depot price in the Lagos axis from N148.17 to a range of N160 and 162.

Depot’s in Warri/Ogbarra have their rates adjusted to N162-N165 while Port Harcourt depots will sell for N165-167.

admin by — July 19, 2022 in Oil&Gas 0
Why We Gave Licences To New Companies -NAICOM

 

The National Insurance Commission (NAICOM) says it granted FBS Reinsurance, Heirs Insurance Life and General, Enterprise Life licences on account of the profiles of the people behind them and their success rates.

The Commissioner for Insurance, Sunday Thomas, disclosed in Nairobi, Kenya, where he also noted that the commission would continue to encourage the development of the insurance sector by ensuring that capable players are welcomed into the sector.

He assured that the Commission would grant licence to more insurance and reinsurance firms that show and have capacity to impact the underwriting sector.

He said: “Insurance and reinsurance firms licensed over a year ago, were granted approval due to their capacity to impact the insurance sector. The last reinsurance company that was approved in Nigeria before we approved FBS Reinsurance, was approved more than 10 years ago and this was the case with insurance companies of which like Heirs and Enterprise were granted licence.

“These companies were not approved because of their numbers, but we looked at the profile of the people behind them and their success rates. We believed they have the ability to impact our sector. I will be happy tomorrow, if I see anyone that has the capacity to impact our sector, I will approve the licence.”

He described as untrue the alleged foreign dominance of the insurance sector, as Nigerians own most of the firms in the sector.

“The issue of foreign dominance should be put in the right perspectives. In terms of ownership, that may not be correct. But in terms of some level of operations, that may be right. For example, on special risks, rates are still determined abroad. But in terms of ownership the companies are owned by Nigerians.’’

He noted that though there are some foreign interest coming in, but that is not enough to tag them dominant factors.

Thomas maintained that NAICOM would continue to encourage insurance practitioners to explore opportunities in the retail market space.

He said efforts would also be intensified to create awareness on benefits of insurance, stressing that the people need to know more on the benefits of insurance.

He added:“We need to encourage and mop up individual lability. Another thing is that we have not been able to communicate the benefits of insurance to the public. Why should we be raising money for relations when a member of the family dies? That would have been done through insurance. We must begin to tell people about insurance. That would be the game changer,” he said.

 

admin by — July 19, 2022 in Insurance&Pension 0
Buhari Unveils New NNPC, Says Coy Will Boost National Energy Security

President Muhammadu Buhari today unveiled the Nigerian National Petroleum Company Limited, assuring that the new company will guarantee energy security in the country.

He described the NNPC Limited as the largest national oil company in Africa,adding that the new enterprise would also support sustainable growth across other sectors of the economy as it delivers energy to the world.

“We are transforming our petroleum industry, to strengthen its capacity and market relevance for the present and future global energy priorities,” the President was quoted as saying in a statement by his spokesman, Femi Adesina.

He said the NNPC Limited will sustainably deliver value to its over 200 million shareholders and the global energy community; operate without relying on government funding and be free from institutional regulations such as the Treasury Single Account (TSA).

He assured stakeholders in the industry that Africa’s largest NOC will adhere to its fundamental corporate values of Integrity, Excellence and Sustainability while operating as a commercial, independent and viable NOC at par with its peers around the world.

He added that the company would focus on becoming a dynamic global energy company of choice to deliver energy for today, for tomorrow, and for the day days after tomorrow.

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“Our country places high premium in creating the right atmosphere that supports investment and growth to boost our economy and continue to play an important role in sustaining global energy requirements.We are transforming our petroleum industry, to strengthen its capacity and market relevance for the present and future global energy priorities.

“By chance of history, I was privileged to lead the creation of the Nigerian National Petroleum Corporation on the 1st July 1977. 44 years later, I was again privileged to sign the Petroleum Industry Act (PIA) in 2021, heralding the long-awaited reform of our petroleum sector.

“The provisions of PIA 2021, have given the Nigerian petroleum industry a new impetus, with an improved fiscal framework, transparent governance, enhanced regulation and the creation of a commercially-driven and independent National Oil Company that will operate without relying on government funding and free from institutional regulations such as the Treasury Single Account, Public Procurement and Fiscal Responsibility Acts.

“It will, of course, conduct itself under the best international business practice in transparency, governance and commercial viability.Coincidentally, I, on the 1st of July 2022 authorized the transfer of assets from the Nigerian National Petroleum Corporation to its successor company, the Nigerian National Petroleum Company Limited, and steered the implementation leading to the unveiling of Africa’s largest National Oil Company today,” he stated.

He commended the leadership and members of the National Assembly for demonstrating uncommon courage and patriotism in the passage of PIA that culminated in the creation of NNPCL.

Speaking, the Minister of State for Petroleum Resources, Timipre Sylva, said with the signing of the PIA, which assures international and local oil companies of adequate protection for their investments, the nation’s petroleum industry is no longer rudderless.

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He described the unveiling of NNPC Limited as a new dawn in the quest for the growth and development of the Nigerian Oil and Gas Industry, opening new vintages for partnerships.

In his remarks,the Group Chief Executive Officer of NNPC Limited, Mele Kyari, stated that the company had adopted a strategic initiative to achieve the mandate of energy security for the country by rolling out a comprehensive expansion plan to grow its fuel retail presence from 547 to over 1500 outlets within the next six months.

admin by — July 19, 2022 in Oil&Gas 0
11million Cannabis Users Are In Nigeria -NDLEA

No fewer than eleven million cannabis otherwise known as Hemp (Igbo) users are still in Nigeria despite the current aggressive war against the consumption if same,the National Drug Law Enforcement Agency (NDLEA), has said

Barrister Callys Alumona, Commander of Narcotics, State Commander, NDLEA, Lagos State Command, who disclosed in Lagos during the NDLEA celebrity drug-free day,lamented that recent report had shown so far, an increase in drug abuse.

The program was in commemoration of the United Nations International Day Against Drug Abuse and Illicit Trafficking 2022.

He was represented at the event by DCN Eziaghighala Chinyerem, Deputy State Commander, Drug Demand Reduction Unit, NDLEA, Lagos.

He said: ”Drug abuse and illegal trafficking is a global menace that can be classified as a pandemic, especially in Nigeria. The effect cuts across all sectors and classes of people in the society. It affects the rich and the poor, the young and the old, the educated and the illiterates”

He said that the prevalence of drug use among students in the tertiary institutions is on alarming increase,adding that it became more worrisome that the ages of these children- user have come down to 10.

He advocated the need for national emergency to tackle the menace.

“All hands must be on deck in order to arrest the escalating trend. All stakeholders, must get involved in this war. Entertainers and other celebrities are part of the major stakeholders. This is because, they are social influencers. Especially the young ones , who are their highest fans.Patriotic entertainers and social influencers must be mindful of what they project in the social media and the society at large.”

“It is imperative of you to show good example in your words, actions, dress sense and every thing you do to ensure what you dish out does not influence negatively.”

Besides,Alabi Abiodun, Commissioner of Police, Lagos State Command, called for a collective war against abuse and illicit drug peddling.

He appealed to those in the entertainment industry to be wary of what they dished out to members of the public , saying that the youth sees them as their role models.

admin by — July 19, 2022 in News 0
ASUU Strike Will End In 14-Days -Buhari

President Muhammadu Buhari has directed the Minister of Education, Mallam Adamu Adamu to end the prolonged strike embarked upon by the university unions and report back to him in two weeks .

He gave the directive on Tuesday after he received briefings from the relevant government Ministries, Agencies and Departments involved in resolving the face-off with the university unions.

The Academic Staff Union of Universities, ASUU, had proceeded on one month warning strike on February 14, and other unions also withdrew their services after that as a result of the alleged inability of the federal government to meet up with their demands.

The three other unions that embarked on strike are the Senior Staff Association of Nigerian Universities, SSANU, the Non-Academic Staff Union of Allied and Educational Institutions, NASU and the National Association of Academic Technologists, NAAT.

President Buhari summoned the Tuesday meeting to receive briefing from the government team on while the strike has lingered for too long.

The President after hearing from the relevant MDA’s directly involved ordered the Minister of Education to ensure that the impasse was resolved within two weeks and report back to him.

President Buhari directed that the Minister of Labour and Employment, Senator Chris Ngige must be in any of the meetings to resolve the crisis.

The Secretary to the Government of the Federation, SGF, Mr. Boss Mustapha should be part of the team to interface with the striking unions.

He commended Ngige in his efforts so far to resolve the face-off.

admin by — July 19, 2022 in News 0
ASUU: Don’t Suspend Planned Protest Over ASUU Strike, Group Warns Labour

A rights group, the Education Rights Campaign(ERC) has warned the Nigeria Labour Congress(NLC) not to suspend the
planned national protest by the organised labour over the lingering Academic Staff Union of Universities (ASUU) strike without achieving demands.

It warned NLC that the usual practice of calling off or suspension of planned strike without positive outcomes will not be tolerated.

ERC in a statement jointly signed by Ogunjinmi Isaac, Deputy National Coordinator and Adaramoye Michael Lenin, the National Mobilization Officer,cautioned the labour unions against calling off the protest before the day or without achieving results and called for independent preparations to forestall treachery.

The group implored the unions, students and parents to draw in as many forces as possible and to ensure active mobilization and urged the NLC to direct its state councils to convene state planning meetings within the next few days

It added: “We of the Education Rights Campaign (ERC) welcome the decision of the Nigeria Labour Congress (NLC) to embark on a two-day national protest on 26 and 27 July 2022 to force the government to meet the demands of ASUU and other University unions. Although coming very late, it is a step in the right direction. The ERC has been at the forefront of calling on NLC and TUC to embark on a series of mass actions to defend public education from the claws of the capitalist ruling class who are hell-bent on not just ruining it but also taking it out of the reach of children of the working masses.

“The ERC also calls on Nigerian students, students unions, radical students groups, NANS and civil society organizations to answer the call of the NLC by mobilizing to join organized labour on 26 and 27 July 2022 for the protest. To draw in as many forces as possible and to ensure active mobilization, the ERC urges the NLC to direct its state councils to convene state planning meetings within the next few days.

“If the NLC calls off the protest before the set date, as is their usual practice, we ask that students, parents, education workers and workers generally should go on to protest independently for the reopening of schools and to make the federal government yield to the demands of the public university unions.
” To achieve this, we ask students, parents and workers across all states to start organizing independent protest committees that can work with the NLC state councils to organize the protest while remaining independent of it.

“While we consider NLC’s decision to embark on a protest in the right direction, we equally warn against last-minute suspension of the protest without any democratic discussion or any concrete resolution of the crisis,” ERC started.

The group said the warning was premised on practice by NLC to suspend strikes without any resolution of the crisis the action was intended to resolve.

It recalled that NLC and TUC thwarted the hope of redress by Nigerians as it suspended protest over the planned removal of fuel subsidy in January, saying a similar disappointment also played out in 2020 when the NLC called off its planned strike scheduled to commence on September 28 that year.

The group also advocated for the conviction of a national summit on the ASUU strike and the deteriorating state of public education.

It added:”Such a summit is to be constituted by pro-masses organizations, the trade unions, students’ unions and professional bodies like the NBA. Such a conference must be used to deliberate on the way forward and outline a line of actions beyond the planned protest by NLC.

“In the Education Rights Campaign (ERC), it is our clear belief that the crisis bedeviling the education sector requires proper funding of the sector at all levels. While we call for proper funding of the education sector, we also demand democratic management of institutions. By democratic management of institutions, we mean that students and workers play an active role indecision-making making organs of tertiary institutions through elected representatives of the unions.

“This may not be achieved without a struggle by the working masses, youth and students to wrest power from the capitalist ruling class and establish a socialist society where resources are democratically owned and managed by the working masses to meet the aspiration of Nigerians for free and quality education, decent quality of life and a better society,” the group added.

 

admin by — July 19, 2022 in Labour/Human Resources 0