Connect with us

NEWS

Gas Dev’t ‘ll Lead to Nigeria’s Prosperity, Lower Cost of Living – Ekpo

Published

on

Share

From Mike Tayese, Yenagoa

The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo has asserted the Federal Government’s firm determination to advance the nation’s gas resources as the surest pathway to economic prosperity.

Ekperikpe stated this in Yenagoa, the Bayelsa State on Wednesday when he visited the facilities and projects of the Nigerian Content Development and Monitoring Board (NCDMB), where he serves as the co-chair of the Governing Council.

According to the minister, Nigeria is endowed with vast natural gas resources of about 209 trillion cubic feet of proven gas reserves, emphasizing the necessity to harness these resources effectively to drive economic development.

He underlined President Bola Tinubu’s unalloyed support to the gas sector, with initiatives extending to the entire value chain, notably gas development, distribution and penetration. Federal Government’s drive according to him is geared to lower the cost of transportation, the cost of living and impact every part of the country positively.

The minister listed some of the key initiatives his ministry was pursing to include investments in critical gas infrastructure development to support the transportation and distribution of natural gas across the country, promotion of domestic gas utilization for power generation, industrial applications, and transportation as well as strengthening NCDMB’s capacity to build capacity and enforce local content policies.

Other laudable initiatives reeled out by the Minister include encouraging and supporting gas-to-power projects to ensure a reliable and sustainable supply of electricity, expanding Nigeria’s capacity to export liquefied natural gas (LNG) to international markets, to generate revenue and position Nigeria as a key player in the global gas market and strengthening the policy and regulatory frameworks governing the gas sector to create an enabling environment for investment and innovation.

The Minister remarked that 60% of NCDMB’s investments are gas based and advised that new projects by the agency should focus on Compressed Natural Gas (CNG) because of the direct impact on transportation and cost of living.

He lauded NCDMB for the remarkable strides it had made in promoting local content and for constructing the magnificent 17 storey headquarter building, which signifies the impressive growth and depth of local capacity.

Ekpo added that the visit provided him an opportunity to meet with management and staff of the Board, learn more about the agency’s operations, and discuss how to continue driving local content development in our nation’s gas sector.

In his remarks, the Executive Secretary of NCDMB, Felix Omatsola Ogbe appreciated the Minister for visiting the Board’s facilities and assured him of the commitment of the management and staff of the Board to supporting the Federal Government’s economic aspirations.

The Minister and his entourage toured NCDMB’s facilities, including the Technology Innovation and Incubation Centre (TICC) and listened to presentations from three incubates on their technology solutions and how NCDMB is supporting them from concept to commercialisation.

The team also visited the NCDMB Conference Hotel project, which was undergoing construction, the NCDMB gas hub at Polaku, Yenagoa as well as the 10 megawatts gas-power plant, which supplies electricity to the Nigerian Content Tower and selected offices of the Bayelsa State Government.

NEWS

Yuletide: Bode George Urges Tinubu to Reduce Petrol Price

Published

on

Share

Chief Bode George, a former Deputy National Chairman of the Peoples Democratic Party (PDP), has urged President Bola Tinubu to reduce the price of petrol   to N300 per litre ,to make things easy for Nigerians during the festive season.

George, the Atona Oodua of Yorubaland, made this plea at an interactive session with newsmen on Wednesday in Lagos.

The price of Premium Motor Spirit, popularly known as petrol, is currently above N1,000 per litre.

According to the elder statesman,Nigerians  are going through hardship, the President should give an order to reduce fuel price, specifying time frame the people will enjoy such window of relief.

He said that the federal government as well as well- meaning individuals and businesses could bear the cost of such price slash , to bring happiness to all Nigerians.

The PDP leader, who noted that December and January are  special months , said that such gesture could start from the  middle of December and run through January.

“I have been thinking, as a Nigerian, what can we do because the anger and the hunger are almost equal on the streets of Nigeria.

“What am I suggesting is that Mr President should sit down with his managers and give an order that from the middle of December to the end of January, the cost of petrol will be N300 per litre.

“The government can absorb the losses in the interest of the suffering people.

“If they (government) want others to contribute, let us know how much that is going to cost and ask people to donate, to bear the cost.

“We will be sending a lot of messages of happiness across the tribes and homes.

“Everybody in Nigeria will be happy because it will positively impact on this period of the year. It is a challenge and he (Tinubu) can do it.

“We need this in this December and January to put smiles on the faces of Nigerians, ” George, a PDP Board of Trustees (BOT) life member, said.

Advising the President to take further measures to bring relief to the people, he said that the gesture would crash prices of essential commodities and services for the benefit of all .

He said that government’s efforts should be concentrated on reducing high inflation rate, unemployment, poverty and youth restlessness  in order to create a better future for Nigerians

Speaking on the recent presidential election in Ghana, George noted that Nigeria’s electoral system  needed reforms to guard against electoral frauds and manipulations.

According to him, the nation will continue to grope for development if the system fails to encourage best candidates  to emerge.

Stating that election must reflect the wishes of the people and be devoid of  religious and tribal sentiments, George said that Ghana election should be a wake up call for Nigeria.

“INEC performance must improve. The commission must make sure that the voice of the people is  heard in elections.

“Electoral offenders should be made to face the music and sent to jail. We must be very firm about due process, credibility and transparency in elections,” he said.

Urging the President to revisit resolutions in the 2014 Constitutional Conference, George said that the current constitution was not federal in principle and practice.

“We should not deceive ourselves, the constitution is a problem. It is a military constitution, it is not democratic,” he said.

George called on the National Assembly to ensure devolution of powers and electoral reforms that would do away with manual collation of election results and mandate electronic transmission of election results from polling units.

George disagreed with political watchers saying no  vacancy in  presidency in 2027.

On the dwindling strength of the former ruling party, George, who noted that all organisations had its ups and downs, said that selfish interests and disregard for  party rules remained PDP’s major challenge.

He said that PDP could bounce back and win presidential election if the leadership decided to elevate national interest above selfish interests and adhere to the party’s constitution.

“We will tell ourselves some serious old truth. We messed ourselves  up. ” he said.

Stating, however, that the PDP was not dead, George said that lack of justice, equity, fairness and the inability to adhere to the  party’s zoning and rotational principle cost the party victory in 2023.

Calling on the party’s founding fathers alive to wake up and rescue the party, George said that Nigerians were still waiting for the former ruling party to take over power and put things right. (NAN)

Continue Reading

NEWS

Tinubu Set for Groundbreaking of Renewed Hope City in Lagos 

Published

on

Share

President Bola Tinubu, is set to perform the  groundbreaking of 2,000 housing units of the Renewed Hope City in Ibeju Lekki, Lagos, in the next few weeks.

Mr Ahmed Dangiwa, Minister of Housing and Urban Development, announced this during an official assessment visit, on Wednesday in Lagos

Dangiwa said Lagos would represent the South-west, while the president would do that of the North-West in Kano, before doing that of the four other regions.

“Arrangements is already on ground, we have gotten sites, and work has commenced for 2000 houses in the Renewed Hope City that we intend to build in Ibeju-Lekki,” he said.

Towards achieving the set goal, the minister said the visiting team also paid a courtesy visit to Gov.

Babajide Sanwo-Olu to discuss area of collaboration between the federal and state governments.

He disclosed that the federal and Lagos state governments had agreed to set up a Tripartite committee and ensure all the issues of concerns between the parties were resolved amicably for the benefit of all.

Earlier, the Minister embarked on an assessment visit of deplorable Federal Government buildings and assets across Lagos state in a bid to commence rehabilitation on them in a few months.

Dangiwa said the rehabilitation was necessary as the deplorable buildings posed a challenge and security concerns to the Lagos state government. (NAN)

Continue Reading

NEWS

Gov. Alia Presents N550.1bn as 2025 Budget Estimate to Benue Assembly 

Published

on

Share

Gov. Hyacinth Alia on Wednesday presented the sum of N550.1bn as the 2025 appropriation bill to the Benue State House of Assembly for consideration and passage into law.

Alia told the lawmakers that out of the total budget size, N175.4 billion is for recurrent expenditure while the N374.

7 billion is for capital expenditure.

The governor said that the total estimate represented a 47.

5  per cent increment over the 2024 revised and approved figure of N373 billion.

He stated that the appropriation bill tagged “Budget of Human Capital Development, Food Security, and Digital Economy” was to consolidate the gains made in 2024.

Alia further explained that the proposed recurrent expenditure of N175.

4 billion was 13.55 per cent higher than the previous year.

According to him, budgeted capital expenditure of N374.7 billion represents a 71.5 per cent increment on the 2024 revised capital expenditure.

“The budget breakdown indicated that the sum of N212.2 billion, representing 38.52 per cent is for administration; N196.6 billion, representing 35.68 per cent is for the economy; law and justice will take N26.6 billion, representing 4.84 per cent while social welfare will gulp N115.5 billion, representing 20.96 per cent.

“We have the vision. We have the will. And most importantly, we have the people ready to work alongside us to turn this vision into reality.

“Together, we will build a state where every citizen has the opportunity to succeed, where food is plentiful, and where the digital economy opens new frontiers of opportunity for all,” he said.

The governor said the intention of the government was to stay within the limits of its recurring revenue to build the state without accruing unnecessary debts for generations unborn.

He, however, said that since the 2025 budget was a deficit one, it proposed a borrowing plan of a conservative sum of N26bn, representing a modest 4.7 per cent of the proposed aggregate expenditure for 2025.

“This is lower than the state’s debt-to-GDP ratio of 8.2 per cent which is within the benchmark of the 25 per cent debt sustainability threshold.

“Despite these favourable debt ratios, I want to reiterate that borrowing will only be considered as a last resort and for regenerative investment purposes,” he added.

Alia stated that the problem of Internally Displaced Persons (IDPs) remained a challenge, adding that they have reasonably improved their living conditions.

He said the Bureau of International Cooperation and Development has elicited substantial grants from donors, totalling N85bn. (NAN)

Continue Reading

Read Our ePaper

Top Stories

NEWS6 hours ago

Yuletide: Bode George Urges Tinubu to Reduce Petrol Price

ShareChief Bode George, a former Deputy National Chairman of the Peoples Democratic Party (PDP), has urged President Bola Tinubu to...

NEWS6 hours ago

Tinubu Set for Groundbreaking of Renewed Hope City in Lagos 

Share President Bola Tinubu, is set to perform the  groundbreaking of 2,000 housing units of the Renewed Hope City in...

NEWS6 hours ago

Gov. Alia Presents N550.1bn as 2025 Budget Estimate to Benue Assembly 

ShareGov. Hyacinth Alia on Wednesday presented the sum of N550.1bn as the 2025 appropriation bill to the Benue State House...

NEWS6 hours ago

Tax Bills: NASS will not Betray the Trust of Nigerians, says Akpabio

Share The President of the Senate, Sen. Godswill Akpabio, says the National Assembly will prioritise the interest of all Nigerians...

NEWS6 hours ago

Alia Has Demonstrated Capacity, Courage to Entrench Good Governance—Speaker 

Share The Speaker, Benue Assembly, Mr Hyacinth Dajo, has said that Gov. Hyacinth Alia has so far demonstrated capacity, courage,...

Economy6 hours ago

Investors Gain N183bn on NGX

Share The Nigerian Exchange Ltd. (NGX) continued its bullish trend on Wednesday, gaining N183 billion. Accordingly, the market capitalisation, which...

NEWS6 hours ago

Energy, Solid Minerals Top Priority, Tinubu Tells German Businessmen

Share President Bola Tinubu, on Wednesday, assured the German government and businessmen of Nigeria’s preparedness to expand frontiers for investors...

NEWS6 hours ago

Nigerian Who Wrote WASSCE 17 Times Bags Distinction from London School 

Share Dr Emmanuel Ahmadu, a Nigerian who wrote the West Africa School Senior Certificate Education 17 times, has earned a...

POLITICS6 hours ago

INEC Staff Welfare Association Warns Members Against Manipulating Election Results

Share The Abia Chapter of the INEC Staff Welfare Association (ISWA) has warned its members to uphold the integrity of...

NEWS6 hours ago

Bill for Compulsory Counselling, Training of Convicts Scales 2nd Reading

ShareA bill to amend the Corrupt Practices and Other Related Offences Act, 2000, has successfully passed its second reading in...

Copyright © 2021 Daily Asset Limited | Powered by ObajeSoft Inc