Less than one month to the expiration of the constitutionally-mandated 60 days, within which the Federal Executive Council (FEC) must be constituted, President Bola Ahmed Tinubu may have settled for Technocrats, Politicians and top career public servants as ministers. Watch the video clip for details
Dangote Refinery Commissioning: Exploring The Neighbourhood, Lekki Deep Seaport
Nigeria’s Former President Muhammadu Buhari commissioned the Dangote Refinery on May 22nd with hopes of transforming the country into a net exporter of petroleum products.
The government of former President Muhammadu Buhari sees the refinery as the answer to Nigeria’s repeated fuel shortages, the latest of which hit the country in the run-up to February’s disputed presidential election and the recent subsidy removal as announced by President Bola Tinubu.
Dangote’s 650,000 barrels per day refinery plans to produce 53 million litres a day. I spoke to business owners around the neighbourhood, Elizabeth a POS Operator and Vivian, another business owner, said the business has brought more customers for her.
A contractor at the refinery, Ayo, said that all tribes of Nigeria were represented inside the refinery as workers. He commended Aliko Dangote for employing a large number of people.
ICAN Advocates Anti-Borrowing Approach To Development
The President, Institute of Chartered Accountants of Nigeria (ICAN), Innocent Okwuosa, has said that the nation has the capacity to source funds for development instead of external borrowing.
Speaking in an interactive session with the media in Lagos Sunday, Okwuosa stated: “The loans taken by government are not necessary, some loans and funds could have been sourced internally by opening up other aspects of the economy, we have vast and untapped resources, why will government not exploit the vast massive resource that we have in this country, rather they take the easy approach of loan.
“In the oil industry, for instance, we have been exploiting oil for the past 60 years. We have not been able to develop indigenous scientists or petroleum engineers that can do the work that the multinationals are doing.
“It is not that Nigerians do not have the skill to do that, I think it is just the environment, I am sure if you challenge a Nigerian on any issue, he would prove to you that he can do it. It is the same Nigerians that go abroad and break records, but when they are here they do not have the enabling environment to excel, something must be wrong with creating an enabling environment to unleash the human capital that we have in this country.
“I think that is what we need rather than borrowing and increasing our debt in this country, let us unleash the human capital that we have in this country and there would be no need to borrow.”
Nigerian Govt To Shut Online Banks Pestering Debtors
The Federal Competition and Consumer Protection Commission has said it will delist any loan application harassing customers and ask Google to permanently delete such apps from its app store.
This was in response to the continued harassment and defamation being meted on Nigerians by these digital lenders. It was also the newest measure implemented by the Federal Government to protect Nigerians from the activities of these digital lenders.
Earlier in the year, the FCCPC mandated loan apps to register with it. So far, 180 apps had got full or conditional approval from the commission to operate in the country. Google also recently announced that loan apps would not be allowed on its app store without regulatory approval.
In April, Google announced that loan apps on Play Store would lose their ability to access users’ contacts or photos from May 31, 2023.
The Chief Executive Officer of the FCCPC, Babatunde Irukera, said the commission was ready to permanently shut down the activities of these apps.
Irukera explained that many apps harassing customers had names like registered ones. He noted, “Most of the complaints we’ve received about these things show that the companies are not on our list/ Google. They are the ones who are using WhatsApp, APK, and other softer, below-the-radar channels to engage consumers.”
Irukera advised consumers to only take loans from approved loan apps since they were easier to find and sanction.
International Centre Warns FIRS Against Increased Tax
The International Centre for Tax Research and Development has warned the Federal Inland Revenue Service to restrict from introducing of multiple taxes in Value Added Tax as well as increasing the tax burden on the consumers.
It said it would make investors to abandon the manufacturing sector, which would affect the volume of imports coming into the country.
The president of ICTRD, Morenike Babington-Ashaye, said this in a statement.
She also said that presently, the cost of producing goods in the country was higher than the goods when imported.
Babington-Ashaye added that increasing VAT was not the solution as it could lead to employees being laid off from work, thereby increasing the rate of unemployment.
She said, “Taking VAT services to the market does not fit into the system of the VAT because they are traders and are intermediaries between the manufacturers and the distributors.
“Retailers have no value to add as there must be a value added to any product before VAT is charged, otherwise such tax becomes sales tax which will be an additional tax burden to the consumers.”
Morenike who is also a former chairman of the Ogun State Internal Revenue Service, appealed to the FIRS to collaborate with the Market Traders Association of Nigeria to ensure compliance by taxpayers.
She also urged it to monitor their payments instead of asking MTAN to add VAT, as it had been added to the goods during purchase.
ICTRD’s boss added that the way internal revenue could generate funds genuinely was to make sure that the legislators were adequately charged.
She reiterated that taxation was simple, and those who had embezzled public funds should be made to pay tax.
“Whether it is stolen money or not, as long as it is in one’s possession and it is a public fund, tax must be paid and companies must be monitored closely to ensure payment of correct taxes,” she said.
The foremost tax practitioner advised FIRS to look into companies that were used to laundering public funds secretly.
Morenike added that FIRS should go after high-network people, to see how they could generate funds, as there were lots of people with public funds, and those who had the commonwealth of the country in their possession.
Fuel Consumption Drops After Deregulation- FG
The volume of Premium Motor Spirit, popularly called petrol, that was consumed across the country in the first half of 2023 is 11.26 billion litres, the Federal Government has said.
It was, however, observed that after the removal of subsidy on petrol, following the pronouncement by President Bola Tinubu on May 29, 2023, PMS consumption reduced by an average of about 18.5 million litres daily in June.
Data obtained on Sunday from the Nigerian Midstream and Downstream Petroleum Regulatory Authority in Abuja, showed that between January 1 and May 28, 2023, which was the pre-deregulation period, the total amount of petrol consumed nationwide was about 9.9 billion litres.
The average consumption for the 148-day period was put at 66.9 million litres, indicating the country consumed an average of 66.9 million litres of petrol daily during the five-month period when subsidy on petrol was still in place.
But figures from the Federal Government agency indicated that between June 1 to June 28, 2023, which was described as the post-deregulation period, the total petrol consumption across the country was 1.36 billion litres, while the average daily consumption was put at 48.43 million litres.
An analysis of the data by our correspondent showed that the difference between the average monthly consumption figures during the pre-deregulation and post-deregulation periods was about 18.5 million litres.
This implies that the average daily consumption of petrol across the country reduced by about 18.5 million litres after subsidy on commodity was stopped by the Federal Government.
It was, however, observed that petrol consumption rose above 100 million litres in some days, while it fell to below 10 million litres in few other days.
A random pick of petrol consumption figures contained in the NMDPRA report, for instance, showed that on March 8, April 20, and May 16, Nigerians consumed 103.6 million litres, 105.02 million litres, and 101.9 million litres respectively.
These were during the ore-deregulation days, as figures from the post-deregulation period indicated that the country never consumed beyond 78.84 million litres all through the 28-day period captured in the document.
In fact, the 78.84 million litres was consumed on June 20, and it was the highest consumption figure during the post-deregulation period, while the lowest figure during the same period was the 470,000 litres that was consumed nationwide on June 11.
The President, Nigeria Association for Energy Economics, Prof. Yinka Omorogbe, said the fuel subsidy regime created avenues for terrible practices.
There had been repeated complaints by both the Nigerian National Petroleum Company Limited and oil marketers that Nigeria’s petrol was being smuggled out of the country to neighbouring nations during the period when the commodity was subsidised.
Omorogbe, who spoke to journalists in Abuja, while announcing forthcoming 16th annual conference of the NAEE holding in Abuja, said the removal of fuel subsidies was a right step despite the harsh impact.
Tussle for top committee intensifies in Senate
Prior to the 10th Senate’s special and standing committees being formed, senators have begun a vigorous lobby for the most interesting ones. Even Nevertheless, the minority caucus has decided to unite in its bid to win control of the lucrative committees.
The battle over who would lead the 63 standing committees has heated up, with loyalists, past governors, party affiliation, and close acquaintances influencing the makeup.
Though the battle over who would lead the 63 other committees and the nine special ones has taken place outside of the National Assembly, it has intensified with the return of the senators from their recess.
You may recall that on Tuesday, June 13, Senator Godswill Akpabio (APC, Zanfara West) won the presidency of the Senate by garnering 63 votes to defeat Senator Abdulaziz Yari (APC, Zamfara State), who received 46 votes.
For the head of committees like Appropriations, Services, Downstream Petroleum, Upstream Petroleum, Banking, Insurance, and other Financial Institutions, the lobby is more vigorous.
Army, Defense, Finance, Navy, Niger Delta Affairs, Customs, Excise and Tariff, Gas, Works, Foreign Affairs, Health, and Power are some additional departments. Additionally, all of the opposition parties have decided to work together to control the leadership of lucrative committees.
NYSC tenders documents against Gov Mbah
The Labour Party, LP, has continued the Defence of its petition against Governor Peter Mbah of Enugu State at the Election Tribunal with the National Youth Service Corps, NYSC, as its first witness to prove the allegation of certificate forgery against the governor.
At the resumed hearing of the petition filed by LP and its candidate, Chijioke Edeoga, they called the National Youth Service Corps, NYSC, as its first witness whose official, Director of Certification, Aliyu Abdul Mohammed tendered some documents which were admitted by the tribunal as evidence.
Among the documents tendered by the NYSC were the alleged forged discharge certificate used by Mbah as well as the original discharge certificate which they said Mbah ought to have collected. Also tendered was a letter written by Oma and Partners, an Abuja-based law firm, which had asked the Corps to scrutinize the discharge certificate submitted to the Independent National Electoral Commission, INEC, by the governor.
The petitioners, represented by Adegboyega Awomolo, SAN, leading Dr. Valerie Azinge, SAN, Ifeanyi Ogenyi Esq, and others, led the witness (PW1) in evidence. The witness, the Director of Certification, NYSC, Aliyu Abdul Mohammed adopted his written deposition on oath which was tendered and admitted in evidence by the tribunal.
The third respondent, PDP, counsel, Anthony Ani, SAN, however, objected to the admissibility of the document and opted to move a motion dated and filed on the 7th day of July 2023, which seeks to pray the tribunal to strike out the written deposition on oath of the PW1 on the ground of incompetence. The 1st respondent, INEC, as well as the 2nd respondent (Peter Mbah) aligned themselves with the submission of Ani.
Making their case, the respondents relied on the Court of Appeal decision in the case of ANDP & anor V INEC as well as that of Damina & Anor V Adamu and ors and asked the court to strike out the written deposition on oath of the PW1 for lack of competence.
In response, the petitioners’ lawyers relying on the case of Ararume & Anor V INEC, which according to them, is a conflicting decision with the authorities cited by the respondents’ counsel, asked the court to admit the written deposition on oath of the PW1.
In a short ruling, the tribunal admitted the document and reserved ruling on the objections raised by the respondents for final judgment. In his examination-in-chief,Mohammed told the tribunal that he acted on a subpoena served on the Director General of the NYSC or any other official to appear before the tribunal to give evidence to clear some issues bordering on the certificate purportedly issued by the agency.
Tinubu elected chairman of ECOWAS
President Bola Tinubu, has been elected as the Chairman of the Authority of Heads of State and Government of the Economic Community of West African States, ECOWAS. President Tinubu was elected chairman at the 63rd Ordinary Session of the regional bloc held on Sunday afternoon in Bissau, capital of Guinea-Bissau.
After receiving his handover documents from the outgoing chairman and President Umaro Embaló of Guinea-Bissau, Tinubu said, “We will take democracy seriously, Democracy is very tough but it is the form of government.” The ECOWAS chairmanship position is held by one of the heads of state or government of the member countries, chosen on a rotating basis for a one-year tenure.
Recall that former President Muhammadu Buhari had held the position from 2018 to 2019. The chairman of ECOWAS plays a strategic role in conflict resolution, advocacy and liaises with the President of the ECOWAS Commission, the executive responsible for the day-to-day management and implementation of ECOWAS policies and decisions.
Earlier, a media aide to the president, Bayo Onanuga had earlier disclosed that President Tinubu would be elected chairman today (Sunday). Tinubu, who departed Nigeria on Saturday for the 63rd Ordinary Session of the Authority of Heads of State and Government of ECOWAS in Guinea-Bissau.
Onanuga stated, “Nigeria’s President Bola Ahmed Tinubu will become the new ECOWAS chairman today, succeeding President Umaro Embalo of Guinea Bissau, who became chairman 4 July 2022, at the 61st summit in Accra.
“Tinubu’s leadership will be announced in Bissau today at the 63rd Ordinary Session of the Authority of Heads of State and Government of the Economic Community of West African States (ECOWAS).”
Accolades As Katsina United FC Return To Elite NPFL Football
The Speaker, Katsina State House of Assembly, Alhaji Nasir Daura, has rejoiced with the management and players of Katsina United Football Club for securing a promotion ticket back to Nigeria Professional Football League.
This is contained in a statement issued on Saturday in Katsina by the Sssembly’s Chief Press Secretary, Mr Aminu Idris.
The speaker acknowledged the commitment of the entire management staff, players as well as technical crew for living up to the expectations of sports-loving people in the state.
Daura further noted that with this development, the name of Katsina State would keep on resonating in the sports arena.
While describing sports as a modern lucrative venture, he assured of more effective legislation that will enhance the sector across the state.
The state’s number three citizen however enjoined the team to exhibit a high sense of sportsmanship and endurance in the professional league.
He also expressed optimism that the lads have what it takes to go the extra mile by winning the league crown at the end of the 2023/2024 season.
The club succeeded in returning to the league after winning two out of the three playoff matches they played in the ongoing Nigeria National League Super-Eight in Asaba, Delta.
