All Posts in "Day: September 10, 2022"

CBN Pledges More Support For Ogun Farmers

The Central Bank of Nigeria says it will give more support to members of the Ogun Famers and Commodity Association in its Anchor Borrowers Programme.

The CBN governor, Godwin Emefiele, gave the pledge when the Ogun State governor, Dapo Abiodun, led the leadership of the association to the headquarters of the Apex bank in Abuja.

Governor Abiodun expressed his administration’s appreciation to the bank for giving maximum support to the state nominees for the programme.

According to him, the meeting was also used to deliberate on areas for improvement to include additional beneficiaries who are eager to also benefit from the agricultural linkage opportunity facilitated by his administration for farmers and other value chain actors in Ogun State.

He noted that agriculture remains one of the cardinal policy thrusts of his government.

He assured that his administration would continue to give agriculture priority with the aim of making Ogun the food basket of the country.

admin by — September 10, 2022 in Agriculture 0
Auto Journalists’ Fault Fine Imposition, Arrest Of Faded Number Plates

The Nigeria Auto Journalists Association, NAJA, has advocated the need for a more proactive measure from state governments arresting and contravening motorists using faded vehicle number plates across the country.

NAJA Chairman, Mr. Mike Ochonma, who made this position known in a statement made available to newsmen over the weekend, wondered why the unsuspecting vehicle owners are subjected to such traumatic experience when they processed and procured their number plate from the relevant authorities.

Recognising the efforts of the various authorities in curbing the increasing number of faded number plates in use across the country,Ochonma also challenged authorities producing the number plates to use
quality paint and other printing materials that will have a longer life-span.

He explained that the measures will save vehicle owners from the harrowing experience they face regularly in the hands of both the state VIS officials, the Federal Road Safety Corps, the Police and other statutory authorities.

He also recommended that, owners of faded vehicle number plate if arrested or stopped on the road for such reasons and it is proved that, the vehicle owner can either be given a period of grace within which to get a new one at a discounted price at the time when they are renewing their vehicle particulars

Some of the motorists said on many occasions, they were made to pay varying amounts of heavy fines of up to N20,000 and above with further directive to procure a new number plate for no fault of theirs in addition to the alleged contravention.

According to state VIS sources, motorists with faded vehicle plate numbers are violating traffic rules and must pay fines.

“Ignorance of the law is not an excuse, because having a faded vehicle number plate is an offence. Those accosted for having faded vehicle number plates should blame themselves for not doing the right thing at the right time”.

All vehicle number plates both the VIS and FRSC officials said must be visible from at least 50 meters away, otherwise it constitutes an offence to use it, adding that, if a clear view could not be achieved, then the number plate was not performing its function. For example, if a vehicle is stolen, it is the number plate that will be used to identify the vehicle to report to security agencies”.

NAJA said it was improper to impound people’s vehicles or impose fines, adding that defaulting drivers should rather be made to make payments for automatic replacement.

Speaking on the alleged low quality of the number plates, Ochonma said it was important for road enforcement agencies to find solution to the low-quality vehicle number plates in circulation.

He said:“Having faded vehicle plate numbers cannot and should not be blamed on motorists. They were not the people that produced the plate numbers. Hence, it is bizarre that such motorists would be made to pay for offences that are allegedly committed due to no fault of theirs.We believe those charged with production of the said substandard number plates which fade easily, instead of heaping the blame entirely on motorists.

“As an association, we urge that to ensure that the number plates being produced by the Lagos state government through the Lagos state Number Plate Production Authority (NPPA) and othe production centres for instance, are produced under strict supervision of its quality control officers”

He said statistics has shown that unlike the vehicle number plates produced by the FRSC in Abuja, most of the vehicle number plates produced by NPPA are those that easily get faded.

Vehicle number plates, NAJA Mike Ochonma submitted, should be able to last for about 12 years without getting faded.

admin by — September 10, 2022 in Motoring 0
NBC Harps On Innovation In Manufacturing Sector

The Nigerian Bottling Company (NBC) Limited,has reiterated its commitment to championing innovative and sustainable practices in the nation’s food manufacturing  sector.

Mr. Ekuma Eze, Corporate Affairs & Sustainability Director at NBC, in his speech at this year’s edition of the ECOWAS Manufacturing Excellence Awards (EMEA) organised by Independent Newspapers, BusinessDay- Ghana and African Consolidated Analytical Limited.

NBC emerged winner across three key categories, which included ECOWAS Energy Drinks Manufacturing Company of the Year; Juice/Beverage Drinks Manufacturing Company of the Year, and ECOWAS Soft Drinks Manufacturing Company of The Year.

Eze expressed his delight at the recognition.

He added:“As a prominent player in the manufacturing sector, the awards are a testament to our revolutionary work and our leadership, particularly in the areas of product innovation, and investment in the development of infrastructure to create shared value for our stakeholders and communities.

“Despite the challenges posed by the current business climate, it remains our goal to continue to contribute immensely to the growth of the Nigerian economy and uplift the livelihood of its people, thus we are grateful to the conveners for this recognition”.

The annual award was aimed at celebrating outstanding individuals and organisations in the manufacturing industry that had demonstrated innovation excellence across their operations and had made remarkable contributions to the growth of the local economy.

admin by — September 10, 2022 in Business 0
Global Oil, Gas Exploration Dips

Global oil and gas exploration is set to shrink this year as the number of licensed blocks and total acreage fall to near all-time lows as the sector struggles to shake off the effects of the Covid-19 pandemic and the ensuing oil market crash, Rystad Energy research shows.

It said only 21 lease rounds were completed globally through August this year, half of the 42 rounds held in the first eight months of 2021.

The report said the acreage awarded so far this year has shrunk to a 20-year low of 320 000 square kilometers. Global lease rounds are expected to total 44 this year, 14 less than in 2021 and the lowest level since 2000.

Global spending on exploration has been falling in recent years as oil and gas companies seek to limit risk by focusing on core producing assets and regions with guaranteed output, aiming to streamline their operations and build a more resilient business amid market uncertainty and the threat of a recession.

According to the report,the political landscape is also contributing to the decrease in license awards, with many governments pausing or halting leases and encouraging companies to wrap up exploration activity within already awarded blocks.

This trend is likely to continue as governments are less eager to invest in fossil fuel production and instead look ahead to a net zero future.

Global exploration activity has been on a downward trend in recent years, even before the Covid-19 pandemic and oil market crash, and that looks set to continue this year and beyond. It is clear that oil and gas companies are unwilling to take on the increased risk associated with new exploration or exploration in environmentally or politically sensitive areas”, Aatisha Mahajan, vice president of analysis, Rystad Energy

Brazil is the largest contributor in terms of blocks awarded so far this year, with 59 auctioned during its Third Permanent Offer Round.

European majors Shell and TotalEnergies took all eight offshore blocks on offer – six and two, respectively. The remaining 51 onshore blocks in the Tucano, Espirito Santo, Potiguar, Reconcavo and Sergipe Alagoas basins went to regional players 3R Petroleum (six blocks), NTF (two), Petro Victory Energy (19), Origem Energia (18), Imetame Energia (three), Petroborn Oleo (two) and CE Engenharia (one).

Other sizeable block awards after Brazil were Norway with 54 new licenses in its APA 2021 round, India with 29 blocks its OLAP Rounds 6 & 7, and Kazakhstan’s fourth oil and gas auction round, in which 11 blocks were awarded.

There was also some sporadic activity in Africa between January and August, with Egypt providing rights to explore in nine blocks and Angola granting two blocks. South America also saw an offshore licensing round in Uruguay, where three exploration blocks were awarded – blocks OFF-2 and OFF-7 to Shell and Block OFF-6 to US independent APA. Challenger Energy signed a 30-year license for OFF-1 through direct negotiation with the government.

admin by — September 10, 2022 in Oil&Gas 0
Ikeja Electric Seeks Stakeholders’ Support To Stop Energy Theft, Vandalism

Ikeja Electric,is soliciting the support of stakeholders in tackling rising cases of energy theft and vandalism  within its network.

Head Corporate Communications, Ikeja Electric, Felix Ofulue, conveyed his company’s request at a gathering of community media publishers in Lagos.

He lamented the alarming cases of illegal connections, meter bypass, apathy to payment of electricity bills and vandalism have been on a steady rise recently.

He narrated instances where customers using prepaid meters connive with electricians to bypass meters with the aim of evading payment for energy consumed.

“Despite the company’s huge investments in power equipment, infrastructure upgrade and network optimization which runs into billions of Naira, the negative impact of the rising cases of energy theft and vandalism has become worrisome to the company, that is why we have commenced intensive campaign against energy theft and vandalism across our Business Units in order to curb the illegalities, while we are also soliciting the support of communities to assist Ikeja Electric in curbing these illegal activities.”

“The provision of improved and stable electricity supply is a collective responsibility that requires collaboration of stakeholders and should not be treated lackadaisically, as the ricocheting effect will not only impede progress in the power sector and affect revenue, but will also erode the quality of electricity supply to our customers,” Ofulue explained.

According to him, the company has intensified efforts towards closing the metering gap within its network by ensuring postpaid customers acquire prepaid meters seamlessly, whilst the Disco has also stepped up its sensitization campaigns against meter bypass across the six Business Units.

He warned of dire sanctions for offenders, saying it is a punishable offence under Section 94(3) of the EPSRA Act 2005 and culprits are liable to imprisonment for period of not less than five years and not more than seven years. Ofulue reiterated the company’s commitment to curbing energy theft, vandalism and other illegalities perpetrated by these unscrupulous elements within the network.

He also urged community leaders and customers to avoid taking laws into their hands by carrying out what is popularly known as jungle justice.

According to him, community leaders or members should endeavour to report energy theft through our whistle-blowing platform exopressyourself@ikejaelectric.com and also handover any apprehended vandals to police authorities for prosecution, while making sure that adequate security measures are put in place to safeguard the infrastructure within their communities.

The company noted that it has been working closely with security agencies to address issues of vandalism, energy theft including assault on its staff.

He  advised customers not to attack Ikeja Electric staff in the course of carrying out their legal duties.

He urged customers who have complaints or issues that need to contact customer care unit through customercare@ikejaelectric.com, or 01-7000250, 01-2272940 or visit the nearest office.

admin by — September 10, 2022 in Power 0
WHO: 700,000 People Commit Suicide Yearly

No fewer than 700,000 people commit suicide annually all over the world,the World Health Organization,has said.

It said 77% of all global suicides occurring in low-and-middle-income countries,adding that for every suicide, there are likely 20 other people making a suicide attempt and many more have serious thoughts of suicide.

WHO added that suicide is the fourth leading cause of death among 15–29-year-olds.

Its Country Representative, Dr Walter Kazadi Mulombo made these known in his message to commemorate the 2022 World Suicide Prevention Day on the 10th of September .

He said this year’s theme is “Creating hope through action” and serves as a reminder that there is an alternative to suicide.

He said:”The theme also aspires to inspire confidence and light in all of us, aims to empower individuals to be in charge of their lives and value the one life they have. Creating hope through action highlights the importance of setting suicide prevention as a priority public health agenda by countries, particularly where access to mental health services and availability of evidence-based interventions are already low.

“Every suicide is a tragedy that has an impact on the people left behind, families, communities, and the entire nation.I will begin by commending the Honourable Minister of Health, Dr. Osagie Ehanire and his team for their commitment towards suicide prevention in Nigeria.

“Suicides are preventable with timely, evidence-based and often low-cost interventions. For national responses to be effective, a comprehensive multisectoral suicide prevention strategy is needed.

“In 2013, the World Health Assembly adopted the Mental Health Action Plan 2013 – 2020 and identified suicide prevention as an important priority for achieving the global target of reducing the rate of suicide in countries by 10% by 2020. Nigeria has shown commitment to this target by first of all establishing the new National Mental Health Programme in the Federal Ministry of Health to provide strategic leadership on mental health activities and also worked closely with the National Assembly to develop a new mental health bill which aligns with international standards. We are all eagerly awaiting the assent of this bill by H.E. The President of Fed6eral Government of Nigeria”, he said.

He pledged the support of WHO to continue supporting the country to implement priority activities towards mental health including suicide prevention and control.

He said that WHO,in the coming weeks will be supporting the review and update of the 2013 National Mental Health Policy, development of a national framework for suicide prevention and commemoration of the 2022 World Mental Health Day.

He added:”In conclusion, together, by raising awareness, reducing the stigma around suicide, and encouraging well-informed action, we can reduce instances of suicide in our country and inadvertently around the world.We can all play a role in supporting those experiencing a suicidal crisis or those bereaved by suicide whether as a member of society. We can all create hope through action and be the light.I will like to remind us that suicide continues to remain a serious public health concern with a profound impact on all”.

admin by — September 10, 2022 in Health 0
NESG Confab Will Set Agenda For Next Administration

The 28th Nigerian Economic Summit (NES#28) being organised by the Nigerian Economic Summit Group(NESG) in partnership with the Federal Ministry of Finance, Budget and National Planning will set agenda for the incoming administration in 2023,a statement has said.

The group said the development has become imperative in view of numerous challenges confronting the country.

It explained that the summit would seek to refocus the minds of Nigerians on its developmental imperatives for the present and the future, as the sustainable growth of the Nigerian economy is constrained on many fronts.

It said that such constraints include the continuous free fall of Naira against the US Dollar and inflation which have neutralized all efforts towards poverty alleviation.

It added:”Additionally, most socio-economic trends wane as insecurity pervades every region in varying dimensions, threatening food security, school enrolment and the general safety of lives and properties. There is no gainsaying that the quality and will of the political leaders coupled with the overall cohesiveness and optimal functioning of the machinery and arms of government across the federation have a pivotal role to play in the reversal of Nigeria’s trajectory.

“It is in full awareness and sensitivity to the observed risk of losing sight of our developmental priorities as a nation and the momentum of reforms that the Nigerian Economic Summit Group (NESG) and the Federal Ministry of Finance, Budget and National Planning will convene stakeholders from the private sector, academia, public sector, development institutions, and civil societies to deliberate and identify the imperatives for a prosperous Nigeria. Hence NES #28 theme “2023 and Beyond: Priorities for shared prosperity”

The statement explained that the stakeholders at the Summit would deliberate on the key execution priorities for the incumbent government and the incoming leadership in 2023 through four sub-themes including: delivering macroeconomic stability for shared prosperity, investing in the future, unlocking the binding constraints to execution and reframing the agenda for transformational leadership

admin by — September 10, 2022 in News 0
NDIC Wins Corporate Governance Award

The Nigeria Deposit Insurance Corporation (NDIC) has been presented by with Federal Government Level five platinum award for outstanding performance in corporate governance and accountability by the Bureau of Public Service Reforms (BPSR).

The corporation noted that the award was based on the its outstanding 93% score in the BPSR Self-Assessment Tool (SAT) that was deployed to Federal Ministries, Departments and Agencies (MDAs) to assess and enhance service delivery.

The Secretary to the Government of the Federation (SGF), Barr. Boss Mustapha,while presenting the award,congratulated the management of the NDIC for the courage and commitment during the exercise.

He was represented at the event by the Special Adviser to the President on Policy and Coordination, Dr. Habiba Lawal

He added that the Corporation’s exceptional achievement serves as an impetus for other government agencies to take the opportunity of the BPSR Self-Assessment Tool to assess their strengths and weaknesses, and employ the outcome of the self-evaluation to achieve the Federal Government’s objectives of effective service delivery to the citizenry.

The Minister of Finance, Budget and National Planning, Dr Zainab Ahmed, represented by the Director, Home Finance, Mr. Stephen Okon commended the Corporation for the award and expressed the Ministry’s continued commitment and support to the NDIC towards the implementation of the recommendations of the BPSR SAT report.

Presenting the SAT report, the Director-General of the BPSR, Dr Dasuki Arabi, stated that the Corporation is the first and only agency under the supervision of Federal Ministry of Finance, Budget and National Planning to submit itself to the SAT assessment.

He explained that the corporation’s 93% score, which represents the rating of “Far Exceeded Expectations” is a direct result of the Management’s commitment to high standards in corporate governance and staff’s diligence and hard work. He added that the assessment, which commenced in September 2021, focused on broad areas of strategic governance including financial management, operational and service delivery process, human resource management & planning, procurement process and change management.

The Chairman, NDIC Board of Directors, Mrs. Ronke Sokefun and the MD/CE, NDIC Mr Bello Hassan both congratulated the NDIC Board, Management Team and staff for the feat achieved.

The MD/CEO, Mr. Hassan said since the assessment from the BPSR, the NDIC has continued to benchmark itself with International Standards and Best Practices through a culture of continuous process improvement and service delivery to its various stakeholders.

admin by — September 10, 2022 in Next Level 0
Privatization: We Knew Investors In Nigerian Power Were Incompetent-NUEE

Electricity workers under the National Union of Electricity Employees (NUEE),has said that the union’s opposition to the privatization of Nigeria’s power sector in October 2013 has been justified by the poor power distribution to Nigerians across the country.

Comrade Nash Shaibu, the zonal Organizing Secretary, Edo/Delta Generation and Transmission Zone, disclosed this at a press conference in Benin,where he also lamented what he described as endless obnoxious policies being made by the Distribution Companies (DisCos) by making their members to work in an unfriendly environment as a result of crazy bills

Shaibu said when the union cried out initially as at the time the sector was about to be handed over to the private sector that the would-be handlers lack the capacity to manage it, Nigerians thought that they were busybodies.

He said: “The electricity workers under the aegis of the National Union of Electricity Employees cried out at the privatization of Nigeria’s power sector in October 2013, that the investors taking over the sector do not have the technical competency and financial muscle to fix the sector to improve power generation and distribution to Nigerians .Unfortunately however, our outcry was misunderstood by the “Hustlers” within the government with a well-orchestrated propaganda against the union and the union was mischievously accused of trying to protect inefficiency but the union did its best to educate Nigerians on the impending evil.

“These “Hustlers” who advised the government to sell also deceived the government to pay about N2tr subventions to the investors that bought the companies.The consequences and pains that go with privatization exercise as the union had predicted have not only come to pass but manifested and Nigerians are today groaning expectedly.And they have vindicated the union as always standing on the side of the truth’’

He lamented that the power sector is collapsing,while power distribution companies are being taken over by the banks who are allegedly doing so to recover money borrowed by the investors from their banks.

He also hinted that most of the distribution network within the zone comprising Delta, Edo, Ekiti and Ondo states are begging for attention,inherited the equipment inherited after privatization remain same as there is no visible attempt by the company to upgrade and expand their capacities.

He said none of the generation companies (GenCos) has added 1MW to what they inherited after the privatization adding that the GenCos output has been hovering between 3500MW and 4000MW despite improvement in the wheeling capacity of the Transmission Company of Nigeria (TCN) which is still federal government owned to over 7000MW.

He also faulted the inability of the federal government to honour the agreement reached with the union, stressing that it is almost nine years of privatization, the entitlements of some of the workers of the defunct Power Holding Company of Nigeria,PHCN, have not since been paid, thereby subjecting them to hardship and untimely death.

He maintained that the union is prepared to use their labour and sweat to liberate the sector and the country from the clutches of these “Hustlers” in the power sector.

He further lamented that the precarious work conditions have imposed hardship on the existing employees in the Sector as the Distribution Companies (DisCos) are formulating endless obnoxious policies that is making their members work in an unfriendly environment as a result of crazy bills as the investors are only interested in profit maximization.

“This has exposed our members to serious life-threatening situations. Furthermore, the Generation Companies (GenCos) on the other hand have refused to sign conditions of service guiding employer/employee relations, poor remuneration, lack of welfare packages coupled with being denied their fundamental constitutional rights to belong or join the union. We are also prepared to resist any threat or provocation on the leadership of the union at the zonal and national level, as a threat to workers in the sector and Nigerians is a threat to workers at large’’

admin by — September 10, 2022 in Power 0
NMDPRA Clears Air On Daily Consumption Of Fuel In Nigeria

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) otherwise known as The Authority on Friday put daily Premium Motor Spirit (PMS) consumption at 66.89 million litres.

The Nigerian National Petroleum Company Ltd (NNPCL), had last weekend, put the average daily evacuation (Depot truck out) from January to August 2022 at 67 million litres.

The regulator, in a statement entitled: clarification on 2022 average daily truck out figure, and made available to journalists on Friday, said that the actual daily truck out from 1st January, 2022, to 31st July, 2022, stands at 66.89 million litres.

The clarification was sequel to the claims made by the Controller-General of the Nigeria Customs Service, Col Hameed Ali (retd), about the fuel consumption figures in the country.

Ali had queried why the NNPC Limited would allow the release of 98 million litres of petrol per day for local consumption, instead of 60 million litres admitted by its own computation.

Reacting to the claims made by the Customs boss, the Authority said, “The Federal Government Medium Term Expenditure and Revenue Framework (MTERF), which is a three year forward looking budgetary tool comprises contributions from various agencies.For clarity, the figure provided was used in 2021 solely to forecast the expected revenue for 2022 and does not in any way translate to the actual truck out volume for this year.

“In line with the NMDPRA mandate as provided in the Petroleum Industry Act (PIA) to ensure transparency in the oil and gas industry, the Authority publishes on its website (www.nmdpra.gov.ng/daily-truckout) the actual daily truck out.As can be verified from the website, the actual daily truck out from 1st January, 2022, to 31st July, 2022, stands at 66.89 million litres.The Authority assures the general public that it is committed to providing credible and transparent data on the supply and distribution of petroleum products.”

admin by — September 10, 2022 in Oil&Gas 0