Economy
Out-going Recommends Project Monitoring Through ‘Eyemark’
By Tony Obiechina, Abuja
Nigerians have been urged to monitor and evaluate government projects in their domain through ‘Eyemark’, a digital application that enables citizens to access capital projects.
Outgoing Minister of State for Finance, Budget and National Planning, Prince Clem Agba stated this at the inauguration of the third National Steering Committee of the Open Government Partnership(OGP) in Abuja, on Thursday.
President Muhammadu Buhari had launched, “Eyemark,” which is a digital application, that enables citizens to monitor and evaluate capital projects in real time.
It is also an application that provides unimpeded access to information on stakeholders such as the communities, Civil Society Organisations (CSOs), contractors, Ministries, Departments and Agencies (MDAs) and citizens to continually interact with regard to government’s capital projects, in order to promote transparency and accountability in the conduct of government business.
Equally, Eyemark provides a regular update on the status of capital projects across the country through bottom-up interactive processes.
Speaking at the inauguration of the third National Steering Committee of the Open Government Partnership(OGP) in Abuja, Agba commended President Muhammadu Buhari for recognising OGP, as a means of ensuring transparency and accountability in the conduct of government business.
He also commended the President for recognising OGP as a means of ensuring transparency and accountability in the conduct of government business.
He revealed that Nigeria adopted the principles of OGP to make governance citizens’ participatory.
Agba pointed out that through out history, progress has always be driven by citizens who have the courage to raise their voices to be counted and who are willing to bring about the change that they want to see.
The minister stated that Nigeria has developed and implemented two National Action Plans (NAP 1 and 2) on the Open Government Partnership, adding that the stage is set for the implementation of NAP 3.
It would be recalled that at the last OGP Global Summit in Seoul, South Korea, Nigeria won the OGP Impact Award for commitment and progress on Beneficial Ownership Transparency.
Agba affirmed that the National Steering Committee has worked tirelessly to ensure the institutionalisation of OGP in Nigeria especially by strengthening its Secretariat, which is domiciled in the Federal Ministry of Budget and National Planning to carry out its coordination function.
Also speaking, Chief Operations Officer, Nigerian Economic Summit Group(NESG), Dr. Tayo Aduloju, explained that the OGP, is an international multi-stakeholder initiative focused on improving transparency, accountability, citizens participation and responsiveness to citizens through technology and innovation.
Aduloju, who is also Non-State Actors Co-Chair, said OGP brings together government and civil society champions of reform who believe governments can be more effective and credible when they are open to public scrutiny.
Aduloju represented by Mrs. Obialunanma Nnaobi-Ayodele, Executive Director, Meluibe Foundation, said Nigeria in its efforts to deepen institutional and policy reforms and block the opportunities that allow the embezzlement of public resources, joined the OGP in July 2016 as the 70th country, following the President’s commitments at the London Summit on Anti-corruption that held in May 2016.
He however, suggested that to take OGP to new heights, the current OGP Secretariat staff still needs to be significantly upgraded in its technical knowledge of governance reform design and the specific reform principles and practices related to each OGP commitment.
Economy
Investors Gain N183bn on NGX
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)
Economy
Yuan Weakens to 7.1870 Against Dollar
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)Economy
Bring Kaduna Refinery Back into Operation, Youth Group Urges NNPCL
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)