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Uzodimma Signs N592.2bn 2024 Budget, Urges Prudent Implementation
From Marcel Duru, Owerri
Imo State Governor, Hope Uzodimma has assented to the 2024 Appropriation Bill of N592.2 billion.
At a brief ceremony after signing the bill into an Act at the Government House, on Monday in Owerri, the governor said that the success of the budget would depend on the prudent implementation of the items contained in the document.
Uzodimma assured the people of the state that the budget would act both as a stimulus and catalyst for the growth and development of Imo in line with the theme: “Budget of Renewed Economic Growth.
”“In the history of Imo, there has not been an annual budget with a capital expenditure of over 82 per cent, meaning when implemented, the result will make Imo the envy of other states,” he said.
He commended the Speaker and members of the State House of Assembly for the uncommon synergy and conceded to his request to give the bill accelerated hearing and passage.
The governor, who congratulated the Imo people as the ultimate beneficiaries of the synergy between the executive and legislature, promised prudent implementation of the budget.
He urged everyone working for the government to do the same.
He also promised to sustain the cordial relationship and synergy that existed between the three arms of government.
He, however, called for all hands to be on deck to raise the revenue proposed in the budget to enable his administration ensure total implementation and achievement of the budget target.
He called for strict closure of all revenue leakages in the state, promising to “deal with all those who are fraudulent and the criminally-minded in the government circle.
“Government will be ruthless to any public officer or appointee who engages in fraud and corruption in this administration, going forward.
“I will leave no stone unturned in advancing the cause of Imo,” he said.
Presenting the bill to the governor, the Speaker, Mr Chike Olemgbe, said the bill brought to them was “carefully crafted”, which made their job “easy and seamless.”
According to him, the proposal shows that the governor is determined to give Imo people “renewed overall growth and development.”
The speaker promised that the lawmakers would work as partners with the executive to ensure that Imo people enjoyed the dividend of democracy under his and Uzodimma’s leadership.
He said that the bill passed through all the legislative processes from the day it was presented on December 12 to its passage.
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281 Inmates Missing from Custodial Centre after Borno Flood
By David Torough, Abuja
Nigerian Correctional Service (NCoS) has declared 281 inmates missing from the Medium Security Custodial Centre, Maiduguri, Borno State.
NCoS said this followed an evacuation after the flood that engulfed the state capital.
A statement onby the Service Public Relations Officer (SPRO), Mr Abubakar Umar yesterday in Abuja said seven other inmates had been recaptured.
Umar said that the service was in custody of the details of the missing inmates, including their biometrics.
“The flood brought down the walls of the correctional facilities, including the medium security custodial centre Maiduguri (MSCC) as well as the staff quarters in the city.
“Upon the evacuation of inmates by officers of the service with support from sister security agencies to a safe and secure facility, 281 inmates were observed to be missing.
“However, it is important to note that the service is in custody of their details, including their biometrics, which is being made available to the public.
“The service is working in synergy with other security agencies as both covert and overt deployments have been activated to look out for them.
“Presently, a total of seven (7) inmates have been recaptured and returned to custody, while efforts are on ground to track down the rest and bring them back to safe custody.“While this effort is on, the public is assured that the incident does not impede or affect public safety,” he said.
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NNPCL Lifts Petrol from Dangote at N898 Per Litre
By Tony Obiechina, Abuja
After controversies, trucks from the Nigerian National Petroleum Corporation Limited (NNPCL) yesterday lifted petrol from the Dangote Refinery.
NNPCL revealed that Dangote Refinery sold the fuel at N898 per litre.
The national oil company began loading yesterday after moving about 300 trucks to the 650,000 capacity refinery Dangote Refinery located in Ibeju-Lekki, Lagos State.
Its spokesman, Olufemi Soneye was quoted as saying, “We successfully loaded PMS at the Dangote Refinery today [Sunday].
”“The claim that we purchased it at N760 per liter is incorrect.
“For this initial loading, the price from the refinery was N898 per liter.
”At least, over 70 trucks had loaded at the time of this report.
This marks an end to the month-long debate over the quality and sale of the Dangote petrol.
Speaking to newsmen at the refinery, the Vice President of Oil and Gas at Dangote Industries Limited (DIL), Devakumar Edwin described the commencement of the petrol lifting moment of pride to every Nigerian.
He said, “My President has been showing presentations that 52 years ago, we were trying to see how to solve the problem of PMS supply and the queues. Now, after 52 years, we have a solution.
“And the solution is local production of PMS and it is from a Nigerian oil company. And as EPC contractor, it was constructed by a Nigerian company.
“So, it’s a matter of pride that a Nigerian oil company, constructed by a Nigerian-owned company, is able to generate PMS from the local crude and daily will not only to meet the entire requirement of Nigeria, but can also have surplus to export. So, it is a time and moment of great pride to every Nigerian.”
Edwin said 44 percent of the PMS production from the Dangote refinery can meet the requirement of the entire country.
“If you look at the refinery as a whole, PMS alone, every day, 650,000 barrels of crude if we’re processing, we can generate more than 54 million litres of PMS.
“And, of course, the refinery has the capacity to produce various other products too. 44% of the production can meet the entire requirement of the country, 56% of the production has to be exported. “So, it is a huge refinery. So, it is not only going to be doing import substitution, but it is also going to make Forex generation through export revenue.
“The gantries are actually 86 and they can load 86 trucks at a go,” he said.
Last Friday, in Abuja, a member of the Presidential Committee on the Sale of Crude Oil and Refined Product and Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji confirmed that the NNPCL remains the sole buyer of petrol from the Dangote refinery while willing off-takers are free to lift diesel and other products from the refinery.
According to Adedeji, the NNPCL would further distribute to other independent marketers after lifting from the refinery.
He said the nation’s oil company will commence the sale of crude oil to the Dangote refinery in naira from October 1.
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CBN Issues 30-day Deadline to Payment Service Providers on PoS Transactions
By Tony Obiechina, Abuja
Central Bank of Nigeria (CBN) has issued a new directive to Payment Service Providers (PSPs), requiring them to comply with enhanced routing guidelines for Point of Sale (PoS) transactions.This move is aimed at strengthening the monitoring of electronic transactions across Nigeria.
The directive issued on Wednesday aims at strengthening the monitoring of electronic transactions across Nigeria following CBN’s initiative to diversify the Payment Terminal Service Aggregator (PTSA) structure, which previously operated through a single aggregator. In a circular signed by Oladimeji Yisa Taiwo on behalf of the CBN Payments System Management Department, the apex bank mandates that all PoS transactions from merchant and agent locations—whether physical or electronic—must now be routed through any CBN-licensed PTSA.The directive is part of efforts to decentralize PoS transaction routing and address concerns over the centralization of such transactions under a single entity.In Aug. 2011, the CBN initially granted a PTSA license to the Nigeria Interbank Settlement System (NIBSS) Plc to serve as the sole aggregator of PoS transactions.However, to promote competition and enhance service delivery, the CBN awarded a second PTSA license to Unified Payment Services Limited (UPSL) on April 19.This development aims to reduce the dependence on a single aggregator for the management of PoS transactions, promoting transparency and operational efficiency in Nigeria’s growing electronic payments landscape.