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Buhari Presides Over Special FEC In Finalising 2019 Budget

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Eniola Olayemi

 

PRESIDENT Muhammadu Buhari is currently presiding over a special Federal Executive Council, FEC, at the Council Chamber, Presidential Villa, Abuja.

The special FEC meeting is aimed at finalising works on the 2019 budget proposal

President Muhammadu Buhari during the FEC Meeting held at the Council Chambers in Abuja

The meeting started with the opening prayers by the minister of Sports and Youth Development, Solomon Dalung who said the Christian prayer and the Minister of Communications, Adebayo Shittu, that led in the Muslim prayer.

The special session which came after about 48 hours the weekly FEC was held will is expected to deliberate exhaustively on the 2019 budget estimate before transmitting it to the National Assembly for passage and being a one point agenda, it is expected to last for one hour.

Recall that the Council had in October approved the 2019-2021 Medium Term Expenditure Framework, MTEF, and Fiscal Strategy Paper, FSP, and forwarded same to the National Assembly for consideration and approval.

The Minister of Budget and National Planning, Udoma Udo Udoma, had last month announced that the federal government was considering a leaner 2019 budget of N8.6 trillion, against the N9.1 trillion approved by lawmakers for 2018.

He explained at a consultative forum on the medium term expenditure framework (MTEF) and fiscal strategy paper (FSP) 2019-2021, that the decision was due to reduced government revenue projection for the year. Udoma stated that the federal government planned to cut down the level of borrowing from N1.6 trillion in 2018 to N1.5 trillion in 2019, while the deficit component would be reduced from N1.9 trillion in 2018 to N1.6 trillion.

In spite of the recent oil output drop to about 1.9 million barrels a day, he said government was optimistic the 2.3 million barrels per day target was achievable with production now raising to about 2.15 million barrels a day and new oil productions being put into play.

Although a $50 per barrel oil price benchmark was proposed in the ERGP, the minister had expressed confidence that with a significant rise in the price above $80 per barrel currently, government has proposed a $60 per barrel oil price for the budget.

He further added that N305 was proposed as exchange rate to the dollar, with government working to keep inflation down after slight increases in the last two months on the heels of 18 months consecutive decline.

The projected target gross domestic product (GDP) growth rate for the budget was put at 3.01 per cent, reduced from 4.5 per cent in the ERGP; 3.6 per cent in 2020 and 3.9 per cent in 2021.

“Growth is expected to increase from 0.8 per cent in 2017 to 2.1 per cent this year and 3.01 per cent in 2019 with the continued implementation of the ERGP in 2019 and improved outlook for oil prices,” he said.

On revenue, Udoma had said based on the oil price and oil production assumptions, government expected to generate about N3.6 trillion from oil, up by about N500 billion from last year’s figure.

About N6.9 trillion revenue is projected to be available to the budget in 2019.

With other projections showing government expects to collect less revenue from some independent sources, he said only about N624 billion is expected to be realised, against about N847 billion in the 2018 budget, among others.

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ASR AFRICA COMMENCES CONSTRUCTION OF 500-CAPACITY LECTURE THEATRE AND FACILITIES WORTH 250 MILLION NAIRA FOR ADAMAWA UNIVERSITY

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AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H


The Abdul Samad Rabiu Africa Initiative (ASR Africa) commences the construction of a 500-capacity lecture theatre and wash facilities for the Adamawa State University, Mubi.

L-R: Nakama Keri, Multilateral Coordination Specialist, ASR Africa; Dr. Ubon Udoh, MD/CEO, ASR Africa; Dr. Stephen A. Lagu, Ag. Vice Chancellor, Adamama State University; Engr E. B. Filli, Director, Physical Planning & Devt., and Mallam Aminu Aliyu Alkali, Registrar at the Groundbreaking Ceremony in Mubi, Adamawa State.

This project is coming after the nomination of the institution as a recipient of the ASR Africa Tertiary Education Grant Scheme (TEGS), by the Board of Directors of the Abdul Samad Rabiu Africa Initiative.


Speaking at the event, the Acting Vice Chancellor of the University, Dr. Stephen A. Lagu, expressed his appreciation to the Chairman of BUA group and ASR Africa, Abdul Samad Rabiu, for the rare philanthropy gesture towards the university.

He stated that the intervention of the Chairman would reduce the physical infrastructure deficit at their new campus and promote sanitation and hygiene in the university.

L-R: Dr. Ubon Udoh, MD/CEO, ASR Africa and Dr. Stephen A. Lagu, Ag. Vice Chancellor Adamawa State University at the groundbreaking ceremony of the Abdul Samad Rabiu 500-capacity Lecture Hall with other facilities.

He added that the choice of the 500-seat lecture theatre with the four boreholes at different locations within the campus was identified and agreed to by the relevant organs of the institution with the ASR Africa team.


Dr Ubon Udoh (MD / CEO, ASR Africa), in his remarks, congratulated the institution for qualifying for the nomination by the Board of Directors of ASR Africa.

He stated that the rigorous selection process which includes stringent criteria such as the quality of service delivered by the university and the pedigree of graduands from the institution at the national and international levels, proves that the university is keeping up with its vision as a leading institution of learning in the region.

He encouraged the management and students to ensure proper use and maintenance of the facilities as a show of appreciation for the grant given to them.


The Tertiary Education Grant Scheme of the Abdul Samad Rabiu Africa Initiative is part of the efforts of the Chairman of BUA Group and ASR Africa, Abdul Samad Rabiu to give back to the African continent and make a lasting impact in education as a means of uplifting and restoring the dignity and lives of Africans.


About ASR Africa
ASR Africa is the brainchild of African Industrialist, Philanthropist and Chairman of BUA Group, Abdul Samad Rabiu, the Abdul Samad Rabiu Africa Initiative (ASR Africa) was established in 2021 to provide sustainable, impact-based, homegrown solutions to developmental issues affecting Health, Education and Social Development within Africa. 

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Seplat Energy Named Daily Independent’s Indigenous Oil & Gas Company of the Year

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… Also Emerges as The Industry’s Sustainable Energy Company for 2023

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Seplat Energy PLC, leading Nigerian independent energy company listed on both the Nigerian Exchange and the London Stock Exchange, has clinched the Daily Independent Newspaper’s Indigenous Oil & Gas Company of the Year Award.

L-R: Publisher, The Niche Newspaper, Ikechukwu Amaechi; General Manager, Finance, Seplat Energy Plc, Adetaiwo Osindero; Manager Corporate Communications, Stanley Opara; and Associate General Counsel Corporate & Compliance, Adebowale Eboda, at the Daily Independent Newspaper Awards, where Seplat Energy was name as the Indigenous Oil & Gas Company of the Year, held in Lagos … recently.  

 The company was recognised for recording remarkable exploits in the Nigerian oil and gas sector while partnering local communities who are seen and treated as key stakeholders to its operations and overall corporate well-being through inclusive engagement models.

Speaking at the Independent Newspaper Award Ceremony held in Lagos at the weekend, the Managing Director/Editor-In-Chief of the Publication, Mr. Steve Omanufeme, said Seplat Energy was also recognised for its invaluable contributions to the Nigerian economy in many other ways since it was founded, including the supply of natural gas to the domestic market while helping to displace expensive and carbon-intensive oil based power, which dominates Nigeria’s electricity sector.

Omanufeme added: “In all of these, the Company creates direct and indirect employment, while enhancing expertise and technology across the nation’s energy value-chain.

L-R: Head of Marketing, PZ Wilmar, Chioma Mbanugo; Manager Corporate Communications, Seplat Energy Plc, Stanley Opara; and Head of Digital Marketing (B2C) Olam Grains Nigeria, Oladotun Babatunde,  during The Industry Summit & Awards, where Seplat Energy emerged as the Sustainable Energy Company of the Year, held in Lagos … recently.

“This award is to celebrate this Company that has stayed committed to its mission of leading Nigeria’s energy transition with accessible, affordable, and reliable energy that drives social and economic prosperity.”

The award ceremony was attended by leaders across industries in Nigeria, regulators, politicians, and other government leaders. Seplat Energy was represented at the event by General Manager, Finance, Adetaiwo Osindero; Associate General Counsel Corporate & Compliance, Adebowale Eboda; and Manager Corporate Communications, Stanley Opara.

In a related development, The Industry Newspaper at its 2024 Summit and Awards, also announced Seplat Energy as the Sustainable Energy Company of the Year whilst its Director, External Affairs & Social Performance, Chioma Afe, was honoured as the 2023 Industry Pathfinder in Sustainability (Corporate).

The Publication noted that Seplat Energy has demonstrated the capacity to be responsible and adhering to the ethics of the business during the period under review.

Responding to the awards by Daily Independent and The Industry Newspapers, Seplat Energy thanked the publications for the recognition and commended them for their display of professionalism, tact and commitment to developmental reportage over the years.

The company thus reemphasized its resolve to leading energy transition in Nigeria with strong focus on the environment, communities and governance frameworks.  

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LAWMA Serves 343 Contravention Notices on Construction Sites

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AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

The Lagos Waste Management Authority (LAWMA), has served 343 contravention notices on construction sites at various locations around the state in the last one year.

Commissioner for The Environment and Water Resources, Mr. Tokunbo Wahab, disclosed this at on-going ministerial press briefing to mark one year of the second term of Governor Babajide Sanwo-Olu Administration, in Alausa, Ikeja.

He said the notices were served on them for not complying with the construction waste regulation procedure supervised by LAWMA.

Wahab added that 354 new introductions notices were issued to construction firms within the same period while enforcement was carried out on 10 recalcitrant sites.

According to him, “LAWMA in the last one year has served no less than 343 contravention notices on construction firms at various locations in the state, for not complying with the rules and regulations governing construction waste management. It is the responsibility of the Construction Demolition and Disaster Waste Department of LAWMA, to work with construction firms, for smooth evacuation of waste generated by them. But some of them are not playing by the rules, hence the notices”.

Speaking further, he said the agency identified 103 black spots around the state, which LAWMA at various times mobilised its operations men to clear.

He said, “It is a sad commentary that despite persistent public awareness, warnings and actual enforcements, some residents still refuse to patronise assigned PSP operators, preferring to dump waste in canals, on road medians and other illegal points. This habit must stop”.

The commissioner also disclosed that LAWMA, through the Ministry of The Environment and Water Resources, had signed an MoU with the State Government and Jospong Group, on waste treatment solutions.

He noted that the MoU entailed identifying existing landfill sites, for proper re-engineering of solid waste management system, to generate employment.

Still on the activities of LAWMA in the last one year, he intimated that the agency had worked with United Nations Industrial Development Organization (UNIDO) and Food and Beverage Recycling Alliance (FBRA), to identify locations for the installation of plastic recycling facilities, adding that the move was aimed at mass removal of plastic items from the environment, and for job creation.

He stated further, that the Marine Unit of LAWMA, had additional 5 rafters within the last one year, to aid the collection of on-shore and off-shore waste.

On markets in the state, he noted that LAWMA had a year round stakeholders engagement, considerably improving hygiene practices, waste containerisation and evacuation among others.

Wahab reminded residents who indulge in defacing the environment, that LAWMA, within the time under review, apprehended and prosecuted about 1,100 defaulters, a majority of whom were sentenced to hours of community service or fined various sums of money.

He contended that to sustain the current momentum of achievements by the agency, stakeholders engagement, public enlightenment must continue on all media platforms, sending messages on efficient waste management best practices to all strata of society.

The commissioner commended LAWMA Academy for continuously expanding its reach of pupils for waste management education, which averaged 1,400 pupils in eight primary schools across the state.

Wahab lauded LAWMA for prioritising 24-hour response time to complaints, urging residents to shun reckless waste disposal at unauthorised locations, to avoid harsh environmental consequences as the rains approach.

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