Economy
Senate to Pass 2022 Budget Before Christmas — Lawan
Senate President Ahmad Lawan has disclosed that the National Assembly will pass the 2022 Appropriation Bill before Christmas.
Lawan made the disclosure on Friday night, while receiving the New Telegraph’s Lifetime Achievement Award in Politics, alongside other Nigerians who had distinguished themselves in public service and the private sector.
“ This is my fourth term in the Senate; when we came in 2019, our colleagues decided to give us the opportunity to serve them
“As a member, I have never seen a Senate chamber that is so united, determined and focused on achieving great deeds of legislation and development for our dear nation as this.
“The ninth Senate and indeed the ninth National Assembly has recorded great success and that is not to say that we have not differences, we all decided that this time around, we must work for Nigeria, together in spite of our political dispositions.
“It is in this regard that we have said that the 2022 appropriation budget would be passed before Christmas so the executive would begin to act on it in the following year,’’ Lawan said.
He also said criminals should be made to face the full wrath of the law and not enjoy any special support from any ethnic group.
The Senate President advised Nigerians to remain united to be able to fight insecurity.
He said, “Crime committed by anyone is crime. If someone from an ethnic group commits a crime, he is a criminal. Is that not what he is?
“The country is supposed to fight against that person. Criminals should not enjoy any support from any group, even if it is from their ethnic group.
“Nigeria faces security challenges, but I feel there is determination by all levels of government to fight the insecurity that we face.
“In some areas, we succeeded; in others, we are still working hard to succeed. What is important is for us to think to remain focused, undivided and united as a people,” he said.
Governor of Lagos State, Babajide Sanwo-Olu, said while receiving award for good governance of the Year 2021, that he dedicated it to the over 22 million Nigerians living in the State.
“Indeed it is an honour and every sense of humility that I receive this award on behalf of the entire 22 million Lagosians who continue to support our government, who continue to see that indeed the journey of a greater Lagos is on course, who continue to bear with the little inconveniences of all of the infrastructure that we are doing.
“I also dedicate it to them for continuing to believe that their hope is not lost on us and those who continue to encourage us to do more that is required, I want to thank all of you,’’ he said.
Godwin Emefiele, Central Bank of Nigeria Governor, said while receiving the Number One Banker of the year award, that he believed the award was a drive for him and his team to do more to better the country.
“I think it will be an impetus for us and the team around me to continue to do the work for the betterment of the bank, the country and all Nigerians,’’ he said.
Emefiele was represented by Mr Kinsgley Obiora, Deputy Governor in charge of Economic Policy.(NAN)
The Nigerian Exchange Ltd. (NGX) continued its bullish trend on Wednesday, gaining N183 billion.
Accordingly, the market capitalisation, which opened at N59.532 trillion, gained N184 billion or 0.31 per cent to close at N59.715 trillion.
The All-Share Index also added 0.31 per cent or 303 points, to settle at 98,509.
68, against 98,206. 97 recorded on Tuesday.Consequently, the Year-To-Date (YTD) return increased to 31.
74 per cent.Gains in Aradel Holdings, Zenith Bank, United Bank For Africa(UBA), Oando Plc, Nigerian Breweries among other advanced equities drove the market performance up.
Market breadth closed positive with 34 gainers and 17 losers.
On the gainers’ chart, Africa Prudential, Conoil and RT Briscoe led by 10 per cent each to close at N14.30, N352 and N2.42 per share, respectively.
Golden Guinea Breweries followed by 9.95 per cent to close at N7.18, while NEM Insurance rose by 9.74 per cent to close at N10.70 per share.
On the other hand, Julius Berger led the losers’ chart by 10 per cent to close at N155.25, Secure Electronic Technology Plc trailed by 9.52 per cent to close at 57k per share.
Multiverse lost 7.63 per cent to close at N5.45, Haldane McCall dropped 6.07 per cent to close at N4.95 and Honeywell Flour shed 5.62 per cent to close at N4.70 per share.
Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 49.44 per cent.
A total of 320.10 million shares valued at N6.48 billion were exchanged in 7,943 deals, compared with 939.41 million shares valued at N12.81billion traded in 9,098 deals posted in the previous session.
Meanwhile, ETranzact led the activity chart in volume with 70.27 million shares, while Aradel led in value of deals worth N1.22 billion.(NAN)
The central parity rate of the Chinese currency renminbi, or the Yuan, weakened 22 pips to 7.1870 against the dollar on Monday.This is according to the China Foreign Exchange Trade System.In China’s spot foreign exchange market, the Yuan is allowed to rise or fall by two per cent from the central parity rate each trading day.
The central parity rate of the Yuan against the dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day. (Xinhua/NAN)
Arewa Youths Initiative for Energy Reforms (AYIFER), has urged Nigeria National Petroleum Corporation Limited (NNPCL) to do everything possible to bring Kaduna Refinery back into operation.
National Coordinator of the group, Mr Bashir Al’Amin, stated this in a statement issued on Friday in Abuja.
Al’Amin specifically called on the Chief Executive Officer of NNPCL, Mallam Mele Kyari, to do all within his powers to rejuvenate the refinery and bring it up to global standard.
He said that having delivered the Port Harcourt refinery, coupled with the establishment of Dangote Refinery in Lagos, attention should be shifted to Kaduna refinery for easy spread of petroleum products.
“We are calling on Malam Mele Kyari to expedite action on Kaduna refinery so we can be at par with other regions in the country.
“We equally beg the NNPCL to do professional work in rehabilitating the old refinery and deliver a standard and functional petrochemical refinery and not a blending plant.
“Kyari should resist any temptation that could make him do something that can jeopardise his good image,” he said.
Al’Amin said that since the extinction of groundnut pyramid and textiles in Kano State as well as PAN in Kaduna State and with the Kaduna refinery getting moribund, a lot of youths had lost their jobs.
According to him, all their hopes in the north are tied to the legacy refinery, expressing the hope that God would use Kyari to deliver it well and on time.
He said that the group was solidly behind NNPCL in prayer and would be ready to celebrate the company if its expectations were met. (NAN)
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