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Senate Seeks sack of absentee Heads of MDAs at  Interactive Sessions on MTEF/ FSP

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6 months ago

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President of the Senate, Godswill Akpabio
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The Senate has called on President Bola Tinubu to sack any head of Ministries , Departments and Agencies ( MDAs) who refuses to physically attend on going interactive sessions  on projections made in the 2024 – 2026 Medium Term Expenditure Framework ( MTEF) and Fiscal Strategy Paper ( FSP) .

Reading the riot act at the formal opening of the interactive session  jointly organised  by its committees on Finance , Appropriations , National Planning , Local and Foreign Debts , the President of the Senate , Godswill Akpabio , said any heads of  agency who refuses to attend the Session , should be sacked by President Bola Tinubu .

He said : ” If  you dont plan how to succeed then you have planned to fail. I therefore
remind our committee that  any serious appointee or any head of any agency that is interested in the success of President Bola Tinubu’s administration ought  to be here.

“The  Chairman of the lead committee ( Finance), should give me the list of all the Heads of Agencies that you invited who have failed to show up in this session, this is the beginning of their failure in their various offices.

“Any head of agency that sends representation here is not a serious person and therefore,  the President must take a second look at such a person’ s appointment.

” It is not a threat but the truth. I shelved even my appointment to appear in Owerri today for the  final rally of my party and all other schedules that I have to make sure that I appear so that we cqn strategise on how we can succeed “.

He added that borrowings for Nigeria , cannot be totally avoided but the current trend cannot be sustained , the very reason why at this session, strategies must be mapped out by the committees and  relevant agencies on more revenue generation for government.

According to him, the 2024-2026 MTEF/FSP is being considered at a time that events at the global scene and locally, are putting massive negative financial and socio- economic pressure on Nigeria from most development indices.

“Internationally, the intractable Russian-Ukraine war and the sudden Israeli-Palestine war are having international economic repercussions that have consequences for our economic outlook. In addition, we are in the throes of the immediate effects of needed reform in our foreign exchange system and the equally needed removal of subsidy on petroleum products. Couple with the security challenges confronting the nation, there is no doubt that we must be painstaking and bold in economic projections and policies to stimulate employment and economic growth.

“While we acknowledge that majority of our people are going through very difficult times in their daily lives at present, we are very hopeful that in the medium term and in the long run, Nigerian economy is bound to rebound for reliefs to majority of our people. In pursuant of this goal”, he added.

The Chairman of the Committee , Senator Sani Musa ( APC Niger East) , however adjourned the interactive session to next week , in giving the invited agencies , more time to forward the required documents requested from them,  to the committee .

 

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Business & Economy

Kaduna refinery will begin production in December – NNPCL Boss, Kyari

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1 month ago

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March 19, 2024

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The Group Managing Director of the Nigerian National Petroleum Company Limited, NNPCL,Mele Kyari has disclosed that the refinery in Kaduna State will be ready for production by December 2024.

He disclosed this during a meeting with the Independent Petroleum Marketers Association of Nigeria and the Major Energy Marketers Association of Nigeria in Abuja.

He disclosed that operations at the Port Harcourt refinery are scheduled to begin in two weeks.

According to Kyari: “We did a mechanical completion of the (Port Harcourt) refinery, that was what we said in December. We now have crude oil already stocked in the refinery. We are doing regulatory compliance tests that must happen in every refinery before you start it, and I assure you that this Port Harcourt refinery will start in the next two weeks.

“Completing the mechanical work means that you are done with the rehabilitation work, now you have to test to see how it works. Of course, we have also completed the mechanical work on the Warri refinery.

“It is also undergoing regulatory compliance; processes that we are doing with our regulator, and this will soon be completed and it will be ready.

“The Kaduna refinery will be ready by December. We have not reached that stage in Kaduna, but we promise Kaduna will be delivered by December.”

 

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Business & Economy

Edun Blames Economic Hardship On Free Printing Of Naira During Buhari’s Govt

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2 months ago

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March 7, 2024

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Minister of Finance, Wale Edun, stated this on Wednesday when he appeared before the Senate Committee on Finance chaired by Senator Sani Musa.

The Federal Government has disclosed that the free printing of naira notes for eight years, under the previous administration went into the hands of a privileged few, without corresponding productivity, resulting in the country’s current economic situation.

Minister of Finance, Wale Edun, stated this on Wednesday when he appeared before the Senate Committee on Finance chaired by Senator Sani Musa.

While elaborating on measures to revamp the economy, the Finance minister vowed to thoroughly audit the 22.7 trillion naira, and mop up the monies from the market and use it to pay the central bank to give the government a balanced book.

Responding to questions, the finance minister addressed the issue of waivers on customs duty running into trillions of naira, promising to overhaul the system, rejig it and implement a technology and payment system that would correct all anomalies in place.

He further disclosed that a total of 13 trillion naira was collected as non-oil revenue in 2023.

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Harsh Economy: FG To Begin Distribution Of Grains Nationwide 

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2 months ago

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March 4, 2024

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The Federal Government will begin the distribution of grains nationwide to cushion the impacts of the hardship in Nigeria.

Minister of Agriculture and Food Security Senator Abubakar Kyari disclosed this on Monday.

“Dear Fellow Nigerians,” he wrote on his official X handle. “In these trying times, I extend my sincere compassion to those affected by the hardships in the country. I understand the gravity of the situation, especially with the unfortunate event of foodstuff warehouse looting.

“Amidst these challenges, I want to assure you that our commitment to your well-being remains resolute. We shall commence the distribution of 42,000 metric tons of grains, as approved by Mr. President, across the 36 states of the federation as one of the programs to be rolled out this week.

“We are working hand in hand with NEMA and the DSS to ensure that the grains get to the right people in the right packages and quantities. Furthermore, 58,500 metric tons of milled rice from mega rice millers will also be released into the market for stabilization.”

The minister who hailed the resilience of the Nigerian people, urged them to back President Bola Tinubu’s government in its quest to address the challenges facing the country.

“I acknowledge the strength of the Nigerian people, and it is this resilience that will guide us through these difficult times. Let us stand together to support Mr. President in his strive for a better Nigeria,” Kyari said.

“Our government under the leadership of President Bola Ahmed Tinubu is committed to addressing these challenges and working towards a more secure and prosperous future for all.”

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