NEWS
NNPCL, CBN Assure Nigeria Economy on Recover Path as Nass Holds Interactive Session
By Eze Okechukwu, Abuja
The Nigerian National Petroleum Company Limited (NNPCL), the Central Bank of Nigeria (CBN) and other critical stakeholders of the Nigeria economy yesterday assured that Nigeria’s ailing economy was getting revitalized based on emerging indicators.The assurances of getting the economy out of the woods were given during a critical interactive session of the Joint Committees of the National Assembly on Finance with the Ministers of Finance, Wale Edun, Budget and National Planning, Senator Atiku Bagudu, Minister of State for Petroleum , Senator Heineken Lokpobiri , the Group Executive Officer of NNPCL , Mela Kyari and the Governor of Central Bank of Nigeria , Yemi Cardoso.
In his presentation, the Group Executive Officer of NNPCL informed the Committee led by Senator Sani Musa (APC, Niger East) that based on emerging indicators in the Energy and Gas sector, Nigeria will be a net exporter of petroleum by December this year.The indicators according to him were the Port Harcourt refinery that will start production early next month, which will be followed by the one in Warri months after and Kaduna refinery latest by December this year.He added that in a few months’ time, Nigeria’s Oil production would hit 2 million barrels per day as all enablement towards that has already been put in place.”Mr. Chairman and members of the Joint Committee, let me just give a confirmation that NNPCL and the oil and gas industry is very critical in bringing a turnaround in our current economic situation, and we understand the importance of this. We are taking every step that is practical for us to achieve this..”We have already seen growth in our oil and gas production because of certain actions that Mr. President personally took, and also the very mere truth that we have also declared a war on production activities and this is yielding the required results.”The combination of these two has now seen us restoring production in our country, and we believe that, as the Honorable Minister has said, we will soon hit the target of 2 million barrels oil production per day.”I’m aware that there are several comments in the public space around refining business and domestic production, including production that will come from the commissioned Dangote refinery.”Yes, this country, as we have said, will be a net exporter of petroleum products by the end of this year.”We’re very optimistic that by December, this country will be a net exporter. That means a combination of production coming from us, and also from Dangote refinery and other smaller producing companies that we know are in line to do this.”So I can confirm to you, Mr. Chairman, that by the end of the year, this country will be a net exporter of petroleum products.”Specific to NNPC refinery, we have spoken to a number of your committees that it is possible to have the Kaduna refinery come to operation before December, it will get to December. Both Warri and Kaduna but that of Port Harcourt will commence production early August this year “, he said.In his own submission, the CBN Governor represented by Deputy Governor (Economic Policy ) Muhammad Sani Abdullahi said the triple challenges of rising inflation, foreign exchange rate fluctuations and food inflation would take a downward trend soon as indicators to that effect were already emerging.In his submission, the Minister of Budget and National Planning , Atiku Bagudu said the 2024 budget was already being implemented and that there was ongoing negotiation with Labour Leaders on Minimum wage to ensure that there were no further disruptions to the economy.In his remarks, Senator Sani Musa appealed to Nigerians to persevere as the government was working around the clock to stabilise the economy.”Our critical interactive session with you as managers of the economy is about economic growth. It’s about how we can get our policies to work. How we will support Nigerians.”The National Assembly is very concerned because we are the representatives of the people. And we are obliged to ask what is happening. And this is the reason for the meeting .”And we have heard from you. At least you have given us preambles of the activities on how our economy can get back to track.”You are all aware of the obstructions our economy has had in the previous years. And it’s not going to be easy that overnight, in 365 days or in one year of the coming administration, things will change. It will be gradual.”And I believe that Nigerians will persevere. This is the only time we can all come together as Nigerians to give His Excellency the President, all the needed support. In order to get us out of all the trouble we have been in.”The indicators are showing that the economy is doing well. The only thing is that things are a bit difficult because it’s not easy for an inflation that has gone up to go down like that. It takes time”, he said.
NEWS
Abia LG Polls: ZLP Wins 15 Chairmanship Seats, YPP
The Zenith Labour Party (ZLP) has clinched 15 Chairmanship seats in Saturday’s Local Government Elections in Abia, while the Young Progressives Party (YPP) won two seats.The Chairman of the Abia State Independent Electoral Commission (ABSIEC), Prof George Chima, announced the result of the chairmanship poll at thecommission’s headquarters in Umuahia.
Chima said: “We have carried out the duty we were inaugurated on September 5 to undertake. “It was not an easy task, but we went out on our way to create awareness about the elections across the state. “It must be noted that, in recent times, this commission has not conducted an election where over 12 political parties took part, this on its own is a plus to the commission.”The ABSIEC boss said that the chairmanship and councillorship polls took place in the 17 Local Government Areas (LGAs).He described the exercise as “free fair and credible”.He said that the elections were a demonstration of the commission’s dedication, focus and efficiency.Chima expressed joy that the commission successfully completed, in just two months, a task that typically required six to 12 months of effort.“I congratulate the winners and the losers too, because in any election there must be winners and losers.“The most important thing is that Abia has been peaceful and I want the peace to continue.“I appreciate the security agencies for their support, political parties for playing the game according to the rule,” Chima said.Report says that ZLP won in Isiala Ngwa South, Isiala Ngwa North, Umuahia North, Umuahia South, Ukwa East, Ukwa West, Obingwa, Aba North, Aba South, Isuikwuato, Umunneochi, Arochukwu, Bende, and Ohafia LGAs.The remaining two LGAs of Osisioma and Ugwunagbo were won by YPP. (NAN)Foreign News
Trump, Harris Make their Final Campaign Rounds, Millions Vote Early
Democratic presidential candidate Kamala Harris appeared on the “Saturday Night Live” TV comedy show on Saturday, adding a surprise jolt to the U.S presidential election ust three days before her with showdown with Republican Donald Trump.“Keep Calm-ala and carry on-ala,” Harris said in unison with the actor who plays her on the show, Maya Rudolph.
It was Harris’ first time on the show, which has had other presidential candidates over its decades-long run. Trump appeared during his first presidential bid in 2015, where he poked fun at his tendency to exaggerate and steer clear of policy specifics.He also appeared in 2004, long before he entered politics.A Trump aide said he didn’t know if he had been invited to appear this year.Earlier on Saturday, Harris and Trump’s planes shared the tarmac in Charlotte, North Carolina, as the two candidates held dueling events in the southern state, one of a handful that will determine the outcome of Tuesday’s election.It was the fourth day in a row that the candidates campaigned in the same state.Only seven states are seen as truly competitive, but poll released on Saturday showed Harris holding a surprise lead in Iowa, a state Trump won easily in the last two elections.Trump and Harris stuck to familiar themes at their appearances.Trump said he would deport millions of immigrants if elected and warned that if Harris wins, “Every town in America would be turned into a squalid, dangerous refugee camp.”Campaigning in Atlanta, Harris said Trump would abuse his power if he returned to the White House.“This is someone who is increasingly unstable, obsessed with revenge, consumed with grievance, and the man is out for unchecked power,” she said.More than 75 million Americans have already cast ballots, according to the Election Lab at the University of Florida, in a sign of voter enthusiasm.In North Carolina, the western counties that were devastated by Hurricane Helene appeared to be voting at roughly the same rate as the rest of the state, according to Catawba College political science professor Michael Bitzer.At a later rally in Salem, Virginia, Trump said he ran for office to rescue the economy from “obliteration” even though it would have been easier to relax at one of his oceanfront resorts.“I didn’t need to be here today,” he said. “I could have been standing on that beach, my beautiful white skin getting nice and being smacked, being smacked in the face by a wave loaded up with salt water.”Trump was joined on stage by women from a local college swim team who have objected to competing against transgender athletes.Some of Trump’s TV ads have sought to capitalise on transgender controversies.Meanwhile, Kamala Harris has surpassed Donald Trump in a new poll in Iowa, according to the Des Moines Register/Mediacom Iowa Poll released on Saturday.Women voters are likely responsible for the turnaround in a state that Trump easily won in 2016 and 2020.The poll of 808 likely voters, who were surveyed Oct. 28-31, has Harris leading Trump 47%-44% in Iowa, which has been trending deeply Republican in recent years.It is within the 3.4 percentage point margin of error, but it marked a turnaround from a September Iowa Poll that had Trump with a 4-point lead, the newspaper reported.“The poll shows that women — particularly those who are older or who are politically independent — are driving the late shift toward Harris,” the Register said.Trump senior adviser Jason Miller said the Iowa poll was “idiotic” and an outlier that has no credibility. (Reuters/NAN)NEWS
Katsina Scrap Dealers Launch Task Force to Combat Vandals
The Katsina State chapter of the National Association of Scrap and Waste Dealers, Employers of Nigeria, has inaugurated a 200-member task force committee to tackle vandals hiding under their umbrella.
Report says that during the inauguration in Katsina on Saturday, the association also launched its newly elected executive members in the state.
Alhaji Aminu Hassan-Soja, the North Regional President of the association, said the aim of the committee was to curtail vandalism in the state.
Hassan-Soja said: “There is no doubt, vandalism has now become a serious threat to the nation, and Katsina in particular, and accusing fingers are pointing at our members.
“To show the world that we are not vandals, criminals or thieves, but we are doing our legal businesses, that’s why we inaugurated this task force committee.
“The aim is to complement the efforts of government in tackling the activities of vandals in the nation, this is the focus of the committee.
“Our business is about buying and selling metals. I can confidently say that this business is contributing so much to the country’s economy, apart from reducing unemployment.”
He also revealed that scrap and waste dealers also clean the environment, and control the country’s economy through the supply of raw materials to over 70 per cent of Nigerian companies.
“Some of the companies we supply with the raw materials include steel, plastic, and also roofing sheets, where we supply them with scrap metals. We support the country’s economy through sustaining the recycling industry.
“Because without our activities, no investor will come to Nigeria because they can not see raw materials to process and make finished products.
“Also, most of our companies will wind-up because there’s no raw materials for them to process. This is where we contribute to the development of the country’s economy,” he said.
The regional president further explained that across the country, they have over 5 million members engaging and benefitting from the business, while Katsina accounted for over 200,000 members.
Also speaking, a member of Katsina State House of Assembly, representing Funtua constituency, Alhaji Abubakar Total said the assembly was not planning to ban the scrap activities, but trying to sanitise the business.
According to Total, there are some bad elements hiding under the association to vandalise and steal public and other people’s property in the state.
He explained that the assembly only urged the government to find a way of regulating their activities by engaging the leadership of the association and other relevant stakeholders. (NAN)