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RMAFC Mulls Revenue Sharing Formula Review

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By Tony Obiechina, Abuja

The newly reconstituted board of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) is considering a revisit to the nation’s revenue sharing formula.

The Chairman of the newly reconstituted 37-member board of the commission, Mr Elias Mbam dropped the hint after its inaugural meeting in Abuja.

Answering questions from journalists, Mbam declared that the review done by the commission in 2014 was not rejected but inconclusive.

Four years after the RMAFC work on a draft of a new revenue formula for the country, the draft had not been presented to the National Assembly by the Presidency as the procedure required.

Mbam said, “On a new revenue formula, it was not rejected; it was inconclusive. Our main mandate includes monitoring accruals to and from the federation account. It also includes a review of the revenue formula and determination of the appropriate remuneration of political office holders.

“We are not going to leave any of the items. We are going to address all these issues and that is why I say we are going to be more concerned about the sources of revenuers.”

Mbam said it was the responsibility of all Nigerians to ensure that the work of the commission succeeded, even as he promised that the commission would look into what political office holders earned.

The Chairman who declined to confirm whether the review would go upwards or downwards, however added that any earning of political office holders outside the approved remuneration was outside the law.

He said, “Anything outside that Act is not known to this commission,” referring to the 2008 Political Office Holders Remuneration Act.

Mbam also promised to establish a committee on diversification and urged members of the commission to pay attention to national values even though they were appointed to represent their various states.

The RMAFC boss said, “I want to assure you that the commission as a family shall provide you with the opportunity to develop and contribute your quota to the socio-economic development of our country.

“Our mandate as a commission is to uphold and promote national interest far above primordial interests. To this end, I implore all members to approach all issues pertaining to the mandate of the commission with an open mind and nationalistic fervour for the development of our country”, he added.

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Economy

Umahi congratulates Mbah, urges opposition parties to stop distraction in Enugu

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…..Umahi congratulates Mbah

Minister of Works, Chief Dave Umahi, has congratulated Gov. Peter Mbah on his victory at the Enugu State Governorship Election Petition Tribunal, even as he called on opposition parties to stop distracting the governor.

Umahi, who is an All Progressives Congress (APC) stalwart, said it was not about party affiliation but about the quality of the individual chosen by the people of the state to lead them.

The minister, who said this when he inspected the collapsed bridge at the Enugu end of the Enugu-Port Harcourt expressway, advised the opposition in the state not to waste their time contesting Mbah’s ‘divine and people’s mandate’.

He also said that Mbah’s initiative to commence the reconstruction and dualisation of Enugu-Abakaliki road up to the Ebonyi boundary was another display of people-driven leadership by a private sector person in governance.

“I am happy that you came from the private sector. There is a high hope, especially with the steps you have taken so far.

“They are in tandem with President Bola Tinubu’s steps and I pledge to support you. There must be a change; we must reset the country.

“I want to publicly say, while congratulating you on the tribunal victory, that whoever is taking you to court must stop wasting his time as you are clearly the people’s choice and for good reasons.

“So we will continue to support and pray for you and I urge whoever is distracting you that they should understand the steps of God and know that your emergence is divine and we are very proud of you.

“I know Gov. Mbah as a very successful private person and he is going to bring it to bear in the governance of this state.

“I also believe that what he is bringing to the table will rub off positively on Enugu State, the entire South-East states,” he said.

The minister also commended Mbah for ending sit-at-home in the state, describing it a major step forward for the Igbo nation.

“Let me also thank you for being able to courageously stop sit-at-home in Enugu State.

“It is a major thing you have done for the Igbo people and for the country,” he said. (NAN

…..Umahi congratulates Mbah

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FG Plans Full Production Capacity  Revamp  for DICON  – Matawalle

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By Tony Obiechina, Abuja 

The Minister of State for Defence, Dr Bello Muhammed Matawalle, has charged the staff and engineers of the Defence Industry Corporation of Nigeria (DICON) to improve on their performances as Federal Government plans to revamp and scale up the industry to a full production capacity.

In a statement by the Acting Director of Press and Public Relations of the Ministry, Attari Hope in Abuja on Saturday, Matawalle stated this during his maiden visit to DICON facilities in Kaduna State.

 

In an address to  staff of the industry, he said “as the technical personnel of this promising industry, your professionalism and dedication to work is paramount in sustaining the vision and growth of this industry.

We will ensure you get adequate funding to achieve this.”

The Director General of DICON, Maj Gen AE Edet, lauded the Minister of State for his words of encouragement and assured hm of DICON’s unwavering commitment to its vision and objective which it was set up.

As part of his maiden tour of DICON, the Minister of State visited the DICON’s Special Equipment Factory, Ballistic Helmet Production Unit, Tailoring Unit, amongst others.

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Economy

Kwara EXCO Okays N239bn 2023 Revised Budget

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Kwara State Executive Council has given approval to Governor AbdulRahman AbdulRazaq to present to the state House of Assembly, a draft revised 2023 budget of N239,084,199,757.00, with capital expenditure taking some 50.2% of the chunk, while recurrent tanked to 49.8%.

The revised budget is 27% larger (N50,238,596,196.

00) than the approved 2023 budget earlier approved by the House.

The approval followed a submission from the Commissioner for Planning and Economic Development, Hon.

Lafia Aliyu Kora Sabi, who said that a service-wide and bottom-up process for the revised budget started since June 2023 — followed by thorough deliberations and reviews of submissions from the Ministries, Departments and Agencies (MDAs) of the government by the Central Budget Committee (CBC).

“The pertinent factor governing the selection of projects for execution in the remaining part of the year is the emphasis placed on capital projects that are critical to stimulate the economic activities in the state for inclusive growth and development,” Sabi told the council, adding that special considerations have been made to boost economic activities and improve the living standard of the people.

The cabinet, among other government processes, also approved for Star Sewing Machine Limited, an International firm, to manage the state’s Garment Factory following a long-drawn bidding process involving open tendering in line with relevant laws.

Held Friday evening, the council meeting was chaired by Governor AbdulRazaq, attended by Deputy Governor Kayode Alabi; Secretary to the State Government, Alhaji AbdulKadir Mahe; and all the commissioners.

Chevron continues to partner Nigeria for socio-economic development—MD

Chevron Nigeria says it has continued to make significant investments in Nigeria including generating socio-economic development in several communities across the country in its six decades of operation.

Its Chairman and Managing Director (MD), Mr Rick Kennedy, made this known in a statement on Sunday in commemoration of Nigeria’s 63rd Independence Day.

Kennedy said that the company strove to build lasting relationships to help enable human progress now and into the future.

According to him, Chevron Nigeria has been successful in leading and investing in some major initiatives in the Nigerian oil and gas industry.

“These include the development of the Deep Water Agbami project which has produced over one billion barrels of oil.

“The development of the Escravos Gas Processing facility to enable the reduction of flares and be the largest supplier of on-spec domestic gas in Nigeria.

“Also, the development of the Escravos Gas-to-Liquids facility to reduce gas flaring and produce high quality diesel,” he said.

The MD said also, that Chevron companies in Nigeria had developed and imbibed the Local Nigerian Content development philosophy well before the enactment of the Nigeran Oil and Gas Industry Content Development Act (“NOGICD Act”) in April 2010.

He said that Chevron had helped in building the capacities of several Nigerian businesses by providing training, contracts and procurement opportunities to Nigerians on all projects in our operations.

“For the last 10 years, one of the Chevron Nigeria companies, Chevron Nigeria Limited has spent an estimated annual average of $1 billion on Nigerian suppliers and service providers.

“Chevron does all these, not because it is compelled to, but because it is the right thing to do,” Kennedy said.

Also, Chevron Nigeria’s General Manager, Policy, Government and Public Affairs, Mr Esimaje Brikinn, said that Chevron Nigeria’s focused on helping to engender the development of communities in the Niger Delta.

According to him, this is through the erstwhile Global Memorandum of Understanding (GMoU) a community-driven, participatory partnership model for community engagement pioneered by Chevron Nigeria in 2005.

“Through the GMoU, we provided funds to execute hundreds of projects in the communities where we operate in the Niger Delta region.

“This has led to social investment projects benefitting over 600 communities in the Niger Delta area.

“We will be leveraging our experience with the GMoU in the implementation of the Host Community Development Trust provisions of the Petroleum Industry Act,” Brikinn said. (NAN)

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