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Wike Unveils Ambitious N1.28 Trillion Budget to Revolutionize Infrastructure

By
Toyin Adebayo
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The Minister of the Federal Capital Territory, Barr. Nyesom Wike, has announced a groundbreaking N1.28 trillion budget for 2024, aimed at revolutionizing infrastructure provision in the nation’s capital.

During a media chat with journalists in Abuja, the Minister emphasized that the budget would not only focus on road networks but also prioritize healthcare, education, and the Abuja metro line, among other vital projects.

“Frankly speaking, it is going to revolutionize infrastructure as far as the FCT is concerned. Not only road networks but also in health and education,” stated Minister Wike.

He revealed that 70 percent of the budget has been allocated to capital expenditure, with 58 percent earmarked for the completion of ongoing projects and 42 percent for new projects.

Among the priority projects are the rehabilitation of 21 schools in deplorable conditions across the six Area Councils and the upgrade of Utako, Gwagwalada, and Gwarimpa General Hospitals.

“I believe by the grace of God that the budget is going to be very impactful to the residents of Abuja,” added Minister Wike.

Addressing concerns about financing such a large budget, the Minister disclosed that the withdrawal of the FCT from the Treasury Single Account (TSA) had enabled the Administration to source funds from the financial market using its Internally Generated Revenue (IGR).

He explained that this approach would address delays in project completion and restore contractors’ confidence.

“The funds are there now, and the contractors are happy because these funds have been tied to various specific projects. It is going to create a situation where people will wonder what is going on,” said Minister Wike.

Highlighting ongoing projects slated for completion by May, Minister Wike mentioned the Southern Parkway, Wuye Interchange, Outer Southern Expressway, Arterial Road N20, Guzape District Infrastructure, Abuja Metroline, and various access roads to train stations.

Regarding security, the Minister revealed plans to establish a special response squad comprising a joint team from various security agencies, equipped with drones to enhance surveillance and proactive action against crime.

On land matters, Minister Wike assured efforts to sanitize land administration in the FCT, dismissing allegations of vindictiveness and warning against ethnic colorations in actions taken by the FCTA.

“As far as I’m concerned in this FCT, it is no longer going to be business as usual,” emphasized Minister Wike.

He concluded by expressing his intent to concentrate more on his duties as FCT Minister, setting aside political matters in his home state of Rivers.

Controversial Easter Message by FIRS Sparks Outcry, CAN Calls for Sensitivity

By
Toyin Adebayo
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0

The Christian Association of Nigeria (CAN) has expressed deep concern over a controversial Easter message released by the Federal Inland Revenue Service (FIRS), which has sparked significant public outcry among Christians.

In a statement signed by Prophet Commodore Abimbola Ayuba (rtd), the National Director of National Issues and Social Welfare for CAN, the organization emphasized the importance of respecting religious sentiments and fostering national unity.

CAN highlighted the Easter period as a time of solemn reflection and sacred observance for Christians, emphasizing that messages from public institutions should not trivialize or mock core religious beliefs.

“The analogy drawn by the FIRS between the Christian doctrine of redemption and the civic duty of tax payment was deemed offensive and derogatory by the Christian community,” Ayuba stated.

While acknowledging the FIRS’s intent to engage taxpayers creatively, CAN asserted that the execution of the message crossed cultural and religious boundaries, causing distress and indignation.

“The FIRS’s attempt at creativity inadvertently caused offense and undermined the sanctity of the Easter season,” Ayuba added.

The organization called for public and private organizations to exercise caution and consideration for the diverse religious backgrounds of society, emphasizing the need for communications to be crafted with sensitivity.

In light of the incident, CAN called upon the management of the FIRS to retract the message and issue a public apology for the distress caused.

Additionally, they urged key governmental figures, including President Bola Ahmed Tinubu, Minister of Finance Wale Edun, and the Department of State Security Service (DSS), to guide the FIRS in adhering to communication strategies that promote respect, unity, and cohesion.

“The FIRS must understand the significance of religious sensitivities in Nigeria and ensure that future communications are inclusive and respectful,” Ayuba emphasized.

The statement concluded with a call for the nation to uphold principles of respect and sensitivity in all public discourses, emphasizing the importance of these values in building a harmonious and inclusive Nigeria.

Ichie Engr Samuel Ikechukwu Obiechefu Is Eze-elect Of Luwe Nneiri Autonomous Community

By
Victor Obabunmi
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0

The people of Luwe Nneiri Autonomous community,Umuduru , Isiala
Mbano Imo State have elected Ichie Samuel Ikechukwu Obiechefu as their new Eze-Elect.
The Executives and the people of Luwe Nneiri Umuduru confirmed his selection by the Ezeship Screening Committee at the General Meeting of the Town Union held on Monday, 1st April, 2024.

The community has been without an Eze since the death of Eze GBC Ekejiuba in 2020.
The Traditional Prime Minister of the Autonomous Community, Professor Osy Ezechukwunyere Nwebo declared the stool vacant in 2023.

An Ezeship Screening and Selection Committee headed by Sir Humphrey Maduike was subsequently set up by the President General of the Community, ABC Lemchi, PhD, with the mandate to screen and present a credible Eze to the people.

Based on this, three Aspirants namely Chief Barr. Chima Awurum, Ichie Eric Awurum and Ichie Samuel Ikechukwu Obiechefu presented themselves for screening.
After the rigorous screening, Ichie Samuel Obiechefu emerged as the most qualified of the three and was presented to the Executives and Members of Luwe Nneiri Umuduru Autonomous Community Development Union (LDU).

The Eze – Elect, Ichie Obiechefu is a seasoned career civil servant. As a trained Electrical Engineer, with over 30 years of experience, he is the Head of Electrical Department, Alvan Ikoku Federal University of Education, Owerri, Imo State.

He is happily married and has very many talented children.

The Community of Luwe Nneiri Umuduru is in joyful mode following the conclusion of their Ezeship selection processes.
The Eze – Elect will be presented to the Local Government Area Authority at a later date.

Wike Thanks President Tinubu for Commitment to Development

By
Toyin Adebayo
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The Minister of the Federal Capital Territory (FCT), Barr Nyesom Wike, extended his gratitude to President Bola Ahmed Tinubu for the opportunity to contribute to the administration’s commitment to renewing hope for Nigerians.

He expressed his appreciation during an inspection tour of ongoing rural road projects in Bwari and Abuja Municipal Area Councils, Abuja, on Thursday.

Wike lauded President Tinubu for his tremendous support to the FCT Administration in providing critical infrastructure and quality services to the residents of the FCT.

The projects inspected included the construction of a 7.2-kilometer road linking Gaba and Tokulo communities in Bwari Area Council and a five-kilometer access road linking Saburi 1 and 2 in Abuja Municipal Area Council.

Highlighting President Tinubu’s “Renewed Hope” agenda, Wike emphasized its extension beyond urban centers to ensure rural communities also benefit from development initiatives.

He expressed satisfaction with the progress of the projects, particularly in challenging terrains like Bwari, where infrastructure development is crucial for addressing insecurity concerns.

The minister reiterated the commitment to complete all six projects in the area councils before the end of the year, with funding allocated from the 2023 emergency supplementary budget.

He also mentioned the forthcoming utilization of the N1.28 trillion FCT 2024 statutory budget for additional road construction projects across the area councils.

Wike reassured the public that the 2024 budget is realistic and prioritizes ongoing projects, with 58 percent of the capital budget allocated for their completion.

The remaining 42 percent will be directed towards critical new projects following President Tinubu’s assent.

In conclusion, Wike emphasized the practical implementation of President Tinubu’s “Renewed Hope” agenda, affirming its tangible impact on communities and underscoring the administration’s commitment to inclusive development.

Minister of State for Defence Charges Joint Task Force Commanders on Lasting Peace in Nigeria

By
Victor Obabunmi
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During the Chief of Defence Staff Joint Task Force Commanders’ Conference 2024 in Abuja, the Honourable Minister of State for Defence, H.E. Dr. Bello Muhammed Matawalle MON, issued a poignant directive to Joint Task Force Commanders, emphasizing their pivotal role in ensuring lasting peace and stability in Nigeria. The statement was issued by Henshaw Ogubike Mnipr, Director of Information and Public Relations at the Ministry of Defence.

Under the theme “Consolidating Operational Successes across all Theatres of Operations,” the three-day conference convened key stakeholders to reflect on past achievements in military operations and strategize for future endeavors.

As the Special Guest of Honour, Dr. Matawalle highlighted the conference’s significance in recognizing the remarkable progress made in safeguarding the nation’s interests while focusing on addressing challenges and improving previous operations.

Dr. Matawalle emphasized the necessity of jointness in military operations, stressing the importance of a cohesive and integrated approach to tackling the evolving security landscape. He underscored the need for synergy among the various military services to effectively address dynamic security challenges.

Recognizing the invaluable role of local communities in combating insurgency and criminality, Dr. Matawalle emphasized the importance of building trust and cooperation with civilians, acknowledging them as crucial allies in the fight against terrorism and criminal activities.

Furthermore, Dr. Matawalle reaffirmed the administration’s commitment, under President Bola Ahmed Tinubu GCFR, to ensuring the safety and security of all Nigerians.

A notable highlight of the conference was the unveiling of the book titled “Complex Military Operations: Operation Hadin Kai in Perspective,” authored by Major General Edward S. Buba.

The Joint Task Force Commanders’ Conference 2024 serves as a vital platform for fostering collaboration, sharing insights, and devising innovative strategies to address prevailing security challenges and consolidate operational successes across all theatres of operations.

Nigerian Upstream Petroleum Regulatory Commission Activates Domestic Crude Supply Obligations Review

By
Gladys Phillip
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The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) took decisive action on Tuesday by activating Section 109(2) of the Petroleum Industry Act (PIA), initiating the Industry Review of domestic crude oil supply obligations (DCSO).

During a meeting held at the NUPRC headquarters in Abuja, Chief Executive Gbenga Komolafe underscored the paramount importance of prioritizing crude supply to local refineries to achieve the government’s objective of transforming Nigeria into a net exporter of refined petroleum products.

Komolafe emphasized the need for producers to fulfill their domestic crude oil supply obligations, thereby strengthening the country’s domestic refining capacity and facilitating the transition away from the subsidy regime. He addressed concerns raised by industry stakeholders and expressed the Commission’s commitment to resolving issues within the next 48 hours.

Key concerns raised during the meeting included:

  • Inability to align contractual agreements with the provisions of the law.
  • Challenges related to vessel nomination changes and financial instrument requirements.
  • Delays in vessel arrivals impacting production targets.
  • Frequent changes in crude oil allocation to domestic refineries and loading terminal delays.

The federal government has underscored the criticality of meeting domestic crude obligations to local refineries, especially in light of concerns surrounding oil production’s failure to meet budgetary targets and the anticipated commissioning of new refineries in 2024.

Mr. Momoh Oyarekhua, Chairman of OPAC Refinery, highlighted the inadequate crude oil supply received by local refiners over the past three years. Despite having a refining capacity of 10,000 barrels per day, OPAC Refinery received only 1,500 barrels per day in 2022. Oyarekhua also emphasized the urgent need for clarity on payment currency for crude oil supplied to local refineries.

Oil producers in attendance echoed the necessity of additional investment to meet local refinery demands, citing existing supply contracts and operational constraints. Representatives of the Oil Producers Trade Section (OPTS) and Independent Petroleum Producers Group (IPPG) urged the government to address industry challenges promptly.

In response, the NUPRC directed a committee to develop a clear implementation template for domestic crude oil supply obligations within 48 hours, fostering seamless execution of the review process.

The meeting provided a platform for domestic crude oil refiners and stakeholders to collaborate on enhancing crude production and supply, underscoring the imperative of addressing industry challenges to facilitate sustainable growth and development.

Nigerian Oil and Gas Sector Set to Attract $5 Billion in Investments

By
Nnenna Nwankwo
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0

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has unveiled ambitious plans for the Nigerian oil and gas sector, anticipating a significant influx of investments totaling $5 billion. This disclosure came during a three-day 2024 Oil and Gas Sector Retreat themed ‘Building Synergy for Enhanced Development in the Oil and Gas Sector,’ organized by the Ministry of Petroleum Resources in Abuja.

Senator Lokpobiri expressed optimism regarding the sector’s trajectory, foreseeing the surpassing of the 2024 production and revenue targets. He highlighted the government’s concerted efforts to restore confidence among global investors, facilitating an environment conducive to investment in Nigeria’s petroleum industry. The minister revealed that several modular refinery licenses had been granted, emphasizing a commitment to streamlining bureaucratic processes to foster investment without undue interference.

Addressing concerns surrounding insecurity and infrastructure, Senator Lokpobiri reassured stakeholders of the government’s resolve to address these challenges, ensuring a stable and investor-friendly environment conducive to sustained growth.

Additionally, the Minister of State for Petroleum Resources (Gas), Honorable Ekperikpe Ekpo, underscored the imperative of prioritizing infrastructure development to support gas exploration, production, processing, and distribution. He emphasized the pivotal role of gas infrastructure, including pipelines, LNG facilities, and processing plants, in facilitating efficient transportation and monetization of Nigeria’s abundant gas resources.

Highlighting the significance of gas as a transition fuel, Honorable Ekpo advocated for increased domestic production and utilization of gas across various sectors, including power generation, industrial processes, transportation, and household use. He endorsed initiatives such as the “Decade of Gas Initiative” aimed at driving gas utilization through targeted interventions and policy incentives.

In conclusion, Honorable Ekpo expressed confidence in the transformative potential of the discussions and deliberations at the retreat, calling for concerted action to reposition the Nigerian gas sector for optimal performance. He urged collective efforts to overcome challenges and foster resilience, thereby advancing Nigeria’s status as a beacon of progress and prosperity.

The retreat serves as a pivotal platform for stakeholders to align policies and strategies, driving the sector towards sustained growth and development in line with national objectives.

Central Bank of Nigeria Raises Interest Rates to Combat Inflation

By
Mosali Edunosa
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0

In a bid to tackle the persistent rise in inflation, the Central Bank of Nigeria (CBN) announced a significant increase in the benchmark interest rate during its Monetary Policy Committee (MPC) meeting on Tuesday.

The new Monetary Policy Rate (MPR) was adjusted to 24.75%, marking a notable uptick from the previous rate of 22.75%. CBN Governor Yemi Cardoso, addressing journalists after the meeting, underscored the committee’s unwavering commitment to reining in inflation and bolstering the purchasing power of Nigerians.

Key policy adjustments include:

  1. MPR Increase: The substantial hike in the MPR aims to make borrowing more expensive, thereby curbing spending and slowing economic growth to mitigate inflationary pressures.
  2. Cash Reserve Ratio (CRR) Adjustments: While maintaining the CRR for commercial banks at 45%, the CBN increased the CRR for merchant banks from 10% to 14%. These measures aim to tighten control over the money supply, reducing liquidity in the financial system.
  3. Unchanged Liquidity Ratio: The liquidity ratio remains steady at 13%, further contributing to the tightening of monetary conditions.

Cardoso emphasized the pivotal role of food security in combating inflation, urging the federal government to intensify efforts in implementing agricultural programs aimed at boosting domestic food production and reducing dependence on imported food items, which are susceptible to price fluctuations.

The ripple effects of the increased interest rates will be felt across the Nigerian economy. Borrowers, including businesses and individuals, are expected to face higher borrowing costs, potentially impacting investment and consumer spending.

However, the CBN’s decisive actions are geared towards achieving long-term benefits for Nigerians by stabilizing prices and safeguarding purchasing power.

The MPC’s aggressive stance in raising interest rates underscores the severity of Nigeria’s inflation challenge. The effectiveness of these measures will hinge on various factors, including the government’s success in enhancing food production and the economy’s response to tighter monetary policy.

FCT Minister Woos Indian Investors to Boost Abuja’s Development

By
Toyin Adebayo
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0

The Minister of the Federal Capital Territory (FCT), Mr. Nyesom Wike, has extended a warm invitation to Indian investors, seeking substantial investments to expedite the development of the capital territory, Abuja.

During a visit by the Indian High Commissioner to Nigeria, Mr. Shri Balasubramanian, in Abuja on Tuesday, Wike emphasized the potential for mutually beneficial partnerships between India and Nigeria, particularly in Abuja’s burgeoning economic landscape.

Acknowledging the significant presence of Indian companies in Nigeria, particularly in sectors such as petrochemicals and fertilizers, Wike underscored the need for a similar collaborative relationship in Abuja.

“We would also like to have this kind of relationship in Abuja. You have seen improvement in security; you have seen improvement in infrastructure in Abuja. That is part of the ‘Renewed Hope’ agenda of President Bola Tinubu,” stated Wike, highlighting the progress made under the current administration’s development initiatives.

Wike further emphasized the FCT Administration’s commitment to fostering a conducive environment for diplomatic missions, ensuring they can effectively carry out their mandates within Nigeria.

In response, Balasubramanian highlighted the longstanding and robust relationship between India and Nigeria, dating back to India’s pre-independence era in 1958 when diplomatic ties were established. He noted the substantial presence of over 155 Indian companies in Nigeria, with investments exceeding $27 billion across various sectors, ranging from plastics to steel, oil, pharmaceuticals, and beyond.

Furthermore, Balasubramanian underscored the significant role played by Indian companies in Nigeria’s employment landscape, emphasizing their position as the second-largest employers of labor after the Nigerian government.

Expressing satisfaction with the existing cooperation between Nigeria and India, particularly in cultural and diplomatic spheres, Balasubramanian reiterated India’s commitment to strengthening bilateral relations and expanding economic engagements.

“We are very happy with all the facilities that are being extended to our Embassy. We are more than happy about it and would like to continue the relationship,” affirmed Balasubramanian, underscoring India’s eagerness to further deepen ties with Nigeria.

The meeting between Wike and Balasubramanian signals a promising avenue for enhanced economic collaboration, poised to drive growth and development in Abuja while reinforcing the longstanding friendship between India and Nigeria.

PDP Holds Crucial Meeting to Address State Chapter Tenure , Crisis

By
Ola Akinola
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0

The Peoples Democratic Party (PDP) convened a pivotal gathering on Tuesday, bringing together the Chairmen of state chapters to assess the tenure situation in 26 states and address ongoing crises within the party.

Led by the National Working Committee (NWC), the meeting aimed to address the expiration of tenures in various states and prevent potential crises arising from leadership vacuums. Umar Bature, the National Organizing Secretary, emphasized the necessity of the meeting in light of the lingering challenges faced by several state chapters.

Bature outlined the primary agenda, stating, “We are here to review the tenure of about 26 states, in terms of ward, local government, and state. If you recall, most of the current executives in the states were elected four years ago, with congresses conducted on a staggered basis due to COVID-19 concerns.”

Highlighting specific states with expired tenures such as Edo, Bayelsa, Gombe, and Rivers, Bature emphasized the importance of preventing crises and maintaining stability within the party. He cautioned against hasty replacements in vacant positions, urging adherence to caretaker arrangements until formal decisions are made by the National Executive Committee (NEC).

“Submit the list to us as it is,” Bature instructed, “If there are vacancies due to death and resignation, please don’t replace any name. Don’t fix another person for issues that will come up later.”

Moreover, Bature underscored the need for state chapters to submit post-2023 election reports promptly, a requirement essential for NEC deliberations. He urged transparency and accountability among state executives in addressing party grievances and disciplinary matters.

Addressing rising concerns and agitations within state chapters, Bature called upon party leaders to provide comprehensive reports on internal issues and refrain from arbitrary suspensions without due process. He emphasized the importance of factual documentation to guide NEC decisions effectively.

In closing remarks, Bature urged the Acting Chairman to seek clarity on the situation in Cross River State, emphasizing the need for accurate information to address emerging challenges.

The meeting signifies the party’s commitment to internal cohesion and effective governance, as it navigates complex issues to sustain its organizational integrity and political relevance.

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