Economy
Makinde to Unveil Development Plan for Oyo
Oyo state Governor, Seyi Makinde has said his administration was planning to launch a 20-year development agenda to save the state from underwhelming performance.
Makinde made this known on Sunday in Ibadan while speaking at the closing of a two-day retreat for members of the State Executive Council and his senior aides.
He said that the launch of the development agenda would set a high bar for his administration’s developmental objectives.
”We have been underachieving for many years; administrations had come and gone. Yes, they did their best, but still, we have to set a high bar for ourselves.
”Within the shortest possible time, we have to put in place a strategic development plan for the state.
”Administrations had come and gone, but most of them operated on ad-hoc bases. We will put in place a 15 to 20-year development plan for Oyo State, and we will be bullish about our development plans.
”Of course, we are aware that our mandate, for now, is for four years. What we want to do now is to put up a plan or vision so that successive administrations will not need to go back to do the work again.
”We will do the work. Who knows whether the leadership of the next administration is here with us? So we should not take anything for granted,” he said.
The governor tasked his executive members and top civil servants to work in harmony, adding that collective responsibility must be the watchword.
While promising that his administration would empower the civil servants to enable them do their job efficiently and effectively, he, however, said that accountability would be demanded from them.
” For our permanent secretaries, it still remains ‘soldier goes, soldier comes but the barracks remains’. So your commitment to the success of this administration must be unflinching.
”We are making a pact with you that the current administration will empower you and give you necessary and required responsibilities. We will give you the authority to carry them out but we will demand accountability from you.
”I know that the pertinent question that is probably agitating your mind right now is: will the system be fair to you? I make bold to say that, under my watch, the system will be fair to you, absolutely.
“So, my appeal to everybody is: come with me; let us create a prosperous Oyo State together, and God will help us,” Makinde said. (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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