Sector
Niger governor decries level of corruption in Nigeria
The Niger State Governor, Alhaji Abubakar Sani Bello, has decried the level of corruption in the country’s political and economic environment, insisting that corruption is endemic in all the facets of the nation’s life. Speaking at a two-day ‘Get involved leadership’ training in Minna Wednesday, Governor Bello said: “The problem with Nigeria today is enormous, every sector is corrupted. There is no country that can develop with the level of corruption we have. According to the governor, “When you have a system where only limited or few people are transparent, the system can never work.” He submitted that as a result of the high level of corruption in the polity, political positions either elective or those appointed have always gone to the highest bidder, a development he described as unac...
NIWE advocates partnership to address Nigeria’s water challenges
File Photo The Nigerian Institution of Water Engineers (NIWE) has sought for effective partnership between all levels of government and relevant stakeholders to resolve Nigeria’s water challenges especially in the rural areas. Chairman of NIWE, Abuja chapter, Engr Douglas Oloton stated this in Abuja yesterday at a talent hunt organised by the chapter to commemorate the 2021 World Water Day (WWD), with the theme, “Valuing Water”. He noted that population explosion, climate change, high demand on industry and agriculture is threatening the limited water resources, saying that water makes up 60 percent of human body and its fundamental for human, social and economic development. Oloton quoted the United Nations as saying that WWD raises awareness of the 2.2 billion people living without acces...
Senate considers bill to unbundle NIPOST
The Senate has commenced moves to unbundle the Nigerian Postal Service with the consideration of a bill to repeal and re-enact the Nigerian Postal Service Act 2004. The bill which scaled second reading on Tuesday was sponsored by Senator Oluremi Tinubu (APC, Lagos Central). Leading the debate on the general principles of the bill, Tinubu said the piece of legislation seeks a reform of the Postal Industry and to make Comprehensive Provisions for the Development and Regulation of Postal Services in Nigeria. According to the lawmaker, the Nigerian Postal Service (NIPOST) which dates as far back as 1852, evolved from an exigency of the colonial administration to a Collection Office of the United Kingdom and eventually, to the NIPOST. She recalled that as at 1st of October, 1960, when Nigeria g...
Troops eliminate terrorists on looting spree, burst Boko Haram tax collectors
The Nigerian troops on the evening of Monday, 22 March, ambushed and killed scores of Boko Haram/ISWAP elements who were reportedly on looting spree at Magumeri axis of Borno State. This is coming as troops from another sector bursted Boko Haram elements who were collecting taxes and levies from Villagers and herdsmen in Geidam area of Yobe State. Sources told PRNigeria that following a tip off, troops led by Lt Col Ibrahim Bunu, sighted scores of terrorists around 5pm on about 10 motorcycles heading towards Ngowala ward in Magumeri Local Government Area, laid ambush and eliminated them. The troops who were accompanied by civilian joint task force members, captured sophisticated weapons from the neutralized terrorists including AK 47 Rifles, Barreta assault rifles, hand grenade and Bandoli...
Femi Falana: EFCC can mandate bank MDs, executives to declare assets
The Economic and Financial Crimes Commission (EFCC) is charged with the responsibility of enforcing the provisions of all laws relating to economic and financial crimes, Africa’s leading human rights lawyer, Mr. Femi Falana (SAN) has said. Consequently, according to the senior advocate, the anti-graft commission is empowered to cause investigations to be conducted into the properties of any person as stipulated under Section 7 (1) (b) of the EFCC Act, 2004. Also yesterday, Transparency International (TI) argued that if the provisions of the Bank Employees, etc. (Declaration of Assets) Act, 1986 were effectively enforced, Nigeria could save between $15 billion and $18 billion illicit financial flows (IFFs) annually. Falana clarified the roles of the EFCC in a response to inquiries on whethe...
WTO chief warns against Nigeria’s continued reliance on oil & gas
Dr. Ngozi Okonjo-Iweala, Director General of World Trade Organisation (WTO), has warned of Nigeria’s continued reliance on crude oil and gas as the major source of revenue to the government. Okonjo-Iweala sounded the warning on Wednesday in Abuja at a meeting with Women Entrepreneurs in Nigeria held at the headquarters of the Nigerian Export Promotion Council (NEPC). She urged the government to transit from oil and gas based economy to other non-oil sectors. She pointed out that unless Nigeria diversifies her economy, it would be left behind by other countries. She said, “I have kept on harping that Nigeria should transit from oil and gas based economy to producing in other non-oil sector. “This is because of the climate change. Fossil fuels which are oil and gas, that Nigeria depends on, ...
Official: NASRDA to launch another satellite in June
IBTimes The National Space Research and Development Agency (NASRDA) says it is putting modalities in place to launch a Cubesat ‘Edusat-2’ within the first half of the year. The Acting Director-General of NASRDA, Dr Francis Chizea, said this at the ongoing Science and Technology Expo on Tuesday in Abuja, where the agency showcased its research works and achievements. The science expo is with the theme “Science, Technology and Innovation for Economic Recovery and Sustainability Amidst the COVID-19 Challenges” and is a platform to showcase innovation within agencies of government, private research institutions, the academia, among other participants. Chizea explained that EduSat-2 was a build-up on EduSat-1 which the agency built in collaboration with Federal University of Technology, Akure a...
NCC boss: Over $70 billion spent on telecoms infrastructure in Nigeria
Vox Media Over $70 billion have been invested in telecommunications infrastructure deployment in Nigeria since the liberalisation of the industry in 2001. The Executive Vice Chairman of the Nigerian Communications Commission, NCC, Prof Umar Garba Danbatta, who made this known said the amount represented a larger chunk of local and Foreign Direct Investment (FDI) attracted into the sector within the period. Danbatta made the remarks on Thursday while delivering the Bullion Lecture 2021 Edition organised by the Centre for Financial Journalism (CFJ), Lagos. According to him, the investment in infrastructures has boosted the economy and provided more opportunities for more Nigerians have access to telecoms services. “Today, the number of active telephone lines being used by Nigerians has signi...
RTEAN: Commercial buses strike illegal
Pool Photo The Lagos State Chapter of the Road Transport Employers Association of Nigeria (RTEAN) on Monday said the stay-off-road action by commercial buses on the Lagos-Badagry Road was unnecessary. The Secretary of the chapter, Abdulrahman Amusan, told newsmen that the N800 ticket imposed on commercial buses in the state was for tax purposes. Newsmen report that the commercial bus drivers had on March 1, embarked on what they called “Cease Commuter Operation” on the Lagos-Badagry Expressway – from Badagry to Mile 2 – following what they termed an unbearable increment in ticketing and brutality by RTEAN. The drivers were still off the expressway while passengers remained stranded at various bus stops. It is still not certain when they will return to the roads. They claim that both the RT...
NGA chief: Nigeria’s gas reserve can sustain West African market
Nigeria has abundant gas resources which, if harnessed, will meet the energy demand of over 350 million people and the industrial needs in the West African sub-region. According to the newly inaugurated president of the Nigeria Gas Association (NGA), Ed Ubong, “Nigeria, which ranks as the 9th largest gas reserve in the world and clearly the largest in West Africa, needs to develop this resource base and connect the existing local supply and demand with physical and virtual pipeline infrastructure, while also exploring closer integration of roads, seaports and rail infrastructure.” Speaking, at the just concluded NGA’s 12th International Conference and Industry Awards in Lagos last week, Ubong who is also the managing director, Shell Nigeria Gas Limited, however, advocated an improved inves...
Yoruba group: Ban on Zamfara mining activities a double-edged sword
The Yoruba Ronu Leadership Forum yesterday raised the alarm that the ban on mining activities in Zamfara State by the national security council and the declaration of the state a no-fly zone area order are double-edged sword for peace. In a statement issued by the President of the group, Mr. Akin Malaolu, the group recalled that between 2006 and 2007 the then governor Sani Yerima displaced a large population of Fulanis from many mining sites and replaced them with Hausa youths to take charge. The statement noted that the displacement at that time caused both discomfort and death on the Fulani youths who then took to banditry. “If the government is placing ban, we hope they won’t cause new displacement that could re-enact same security challenges we are yet to surmount. “Our candid advice i...
Energy firms’ bank debts rise to N5.94 trillion
The debts owed to Nigerian banks by oil and gas operators as well as power companies in the country rose to N5.94tn at the end of 2020 from N5.25tn in December 2019. The N5.94tn represents 29.16 per cent of the N20.37tn loans advanced to the private sector by the banks as of December, according to the sectoral analysis of banks’ credit by the Central Bank of Nigeria. Oil and gas firms, which received the biggest share of the credit from the banks, increased their debt by N600bn to N5.18tn in December 2020 from N4.58tn in December 2019. The debt owed by power firms to the banks rose to N763.22bn in December 2020 from N671.45bn in December 2019, the CBN data showed. Oil firms operating in the downstream, natural gas and crude oil refining subsectors owed N393tn as of December, up from N3.42t...
