CBN Boss Challenges State Govs To Start Massive Food Production And Reduce FAAC

May 27, 2021

The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele has challenged Governors of the 36 States of Nigeria to embark on massive food production, which would lead to placing less emphasis on the Federation Accounts Allocation Committee (FAAC).

He advised them to invest more in agriculture, particularly crops in which they have comparative advantage.

Emefiele threw the challenge in Port-Harcourt today, May 27, at the launch of the Rivers Cassava Processing Company Limited, which is designed to support improved production and processing of cassava into high quality flour in Rivers State.

He said that the CBN would no longer support the continued importation of items that can be produced in Nigeria, even as he pledged that the Bank will collaborate with Rivers and other States in supporting the development of a viable agricultural and manufacturing sector across the country in line with the CBN mandate of promoting economic growth for the country.

According to him, principal agencies of government at the federal and state level should continue to work hand in hand towards diversifying the Nigerian economy and creating an enabling environment for further investment by firms such as the Rivers Cassava Processing Company.

Emefiele identified land development as a major constraint to increase in agricultural activities in the Southern parts of the country due to its topography, noting that the CBN had partnered with several States Governments in the region under the Accelerated Agricultural Development Scheme (AADS).

He said that about N7.436 billion had been accessed by four States in the South-South region to open up more land for cultivation, create access roads to agricultural lands, and provide infrastructure among other support services in the region. “These measures are helping to induce greater activity in the agricultural sector and are enabling the movement of goods from farm to factories, and to the markets,” he added.

The CBN boss commended the Rivers State Government, working with Shell Petroleum Development Corporation, the Dutch Embassy Investment Nigeria Limited and their technical partners for setting up the integrated facility, saying that investments such as the cassava plant could help in driving economic growth, reducing unemployment and inducing other wealth creating activities in the state.

He expressed optimism that the project would improve livelihoods, as well as enhance sustainability of farming operations for over 3000 farmers, by guaranteeing the offtake of their farm produce in addition to reducing the country’s reliance on imports of cassava by-products.

Emefiele noted that the emergence of the Nigerian economy from the recession in the fourth quarter of 2020, and the recent report that the economy continued to experience growth in the first quarter of 2021, was due to significant growth in the agricultural and manufacturing sectors.

Given the multiplier effects of the agricultural and manufacturing sectors, on growth, employment, and wealth creation, he challenged all stakeholders, particularly the State Governors to encourage more investment in the critical sectors of the economy.

“With the decline in our foreign exchange earnings, we can no longer afford to support continued importation of items that can be produced in Nigeria. Our current situation has also made it imperative for the Central Bank to work towards supporting programmes that will enable greater cultivation and processing of key agricultural commodities in Nigeria.”

Emefiele said that the developmental finance initiatives at the CBN had been focused on creating an enabling environment that will drive both public and private sectors participation in the real sector with strategic deliverables around price stability, job creation, financial inclusion, import substitution and accretion to foreign reserve among others, even as he said that so far, the sum of N333.196 billion had been disbursed to various projects in the South-South region covering activities in different economic sectors.

Why We Need To Protect Some Nigerians Over Others – Police Boss

Editorial staff

May 27, 2021

The Inspector General of Police (IGP), Usman Alkali Baba has given reasons why some Nigerians are being provided with police to guide and protect them over and above others.

He said: “there are those that need to be escorted: there are those that need to be guided because of the nature of job they are doing, or the nature of responsibility they are carrying. The state is supposed to provide security, to protect the citizens, particularly citizens that are vulnerable to attacks or assault or whatever kind attacks because of the nature of duty they do.”

The police boss who spoke to newsmen today, May 27 in Abuja, said that there are political leaders who by virtue of the political offices they find themselves in, are entitled to be escorted.

“Even businessmen, because of their position in the society need to be protected; they need to be guided. So we have a unit that is called A special Protection Unit.

“That unit is essentially created to provide security for those who are in the categories that l mentioned. And there are places to be guided, business premises, because of the nature of activities they do in that place, that company or factory or business entity need to be protected.

“So there is no way you can say this policeman… because you see maybe a classmate with a policeman behind him does not mean you have the same status.

“Suppose you come to my office and say that your life is under threat and I give you a policeman and somebody sees you with a policeman and complain? So these are the things we are having.

“And it is also a symbol of authority. When you have a police officer behind you, you’re working and his is following, it’s a symbol of authority. And some people want it.”

What Manner Of State Police Are People Talking About, Inspector General Asks

Editorial staff

May 27, 2021

The Inspector-General of Police (IGP), Usman Alkali Baba has asked those agitating for State Police to be specific on how they would want it to be.

Answering reporters’ questions today, May 27 at an interactive session in Abuja, the police boss said that some state police and community policing had always been in place.

“I remember as far back as 1998, I think I had a project in one of our course writings on desirability of state policing and the issue has been reoccurring, but now I think it is no more.

“If you look at it technically, I doubt if there is any state that does not have state police even now. What do I mean?

“There are creations that are done by state governments to assist law enforcement agencies in trying to maintain law and order, or enforce regulations or laws that are created by state governments.

“We have vigilante everywhere in this country. We have various types of organisations that have been created by state governments to assist in policing.

“Some of them even have House of Assembly laws that guide their operations.

“The space is open to everybody. We even always say, policing is not a matter of the Nigerian police, or the Nigerian law enforcement agents; everybody can be involve on policing.

“But I want to know, the shape that the advocates of state police want it to take and it is an issue that is left for lawmakers and government.

“We are ready to work with anybody. We are ready to collaborate and synergize with anybody to make sure that Nigerian citizens enjoy the best of protection simple.

“And if you look at it, the community policing aspect: we have trained over 70,000 Nigerians from all states of the Federation, to assist in crime prevention and control. In fact, we have even gone to the extent of using the Police Act to kit them with police uniform, that will give them an identification as spy.

“And that is to say, all those who are trained to go back and assist in policing within their own locality. You are policing capability and powers ends within your community. And it is the community that we suggest who and who will be involved in such a business and we are working with them.

“State governments or state governors are chief security officers of their states. “As far as I’m concerned, they are and remain one. And my commissioners of police are ready to take all local instructions from them.

“As for agitation, it is there but everybody is already involved in creating one agency or the other to compliment the efforts of the Nigerian security agencies. The National Assembly can look into the agitation which is their own responsibility.”

NNPC Records N39 Billion Rise In Trading Surplus In February

Editorial staff

May 27, 2021

The Nigerian National Petroleum Corporation (NNPC) has announced a ₦39.85 billion trading surplus for the month of February 2021 representing a massive 314.24% leap from the ₦9.62billion surplus it recorded in January 2021.

This is contained in the February 2021 edition of the NNPC Monthly Financial and Operations Report, according to a press release by the Group General Manager, Group Public Affairs Division of the Corporation, Dr. Kennie Obateru.

Trading surplus or trading deficit is derived after deduction of the expenditure profile from the revenue for the period under review.

According to the report, in February 2021, NNPC Group operating revenue as compared to January 2021, increased by 35.64% or N 152.07billion to stand at N578.79billion. Similarly, expenditure for the month increased by 29.21% or N121.83billion to stand at N538.94 billion. The expenditure for the month as a proportion of revenue was 0.93% as against 0.98% the previous month.

The significant increase in trading surplus is attributed mainly to reconciled accounts by the Corporation’s downstream subsidiary, the Petroleum Products Marketing Company (PPMC), using the Petroleum Products Pricing Regulatory Agency (PPPRA) pricing template.

Other factors that boosted the trading surplus figure, according to the Corporation, included the performance of Duke Oil, Nigerian Gas Company (NGC) and Nigerian Gas Marketing Company (NGMC) which recorded robust gains as a result of increased debt collection and cost optimization measures.

Conversely, during the period under review, 54 pipeline points were vandalized representing 50% increase from the 27 points recorded in January 2021.

The Warri Area accounted for 50% and Mosimi Area accounted for 39% of the vandalized points while Kaduna and Port Harcourt Areas accounted for 7% and 4% respectively.

NNPC continues to work in collaboration with the local communities and other stakeholders to eliminate the menace of pipeline vandalism.

In the period under review, the Corporation supplied a total of 1.41bn litres of Premium Motor Spirit (petrol) translating to 50.52m litres/day.

In terms of natural gas offtake, commercialization and utilization, out of the 206.05Billion Cubic Feet (BCF) produced in February 2021, a total of 133.06BCF was commercialized consisting of 40.15 BCF and 92.91 BCF for the domestic and export market respectively.

This translates to a total supply of 1,433.75Million Standard Cubic Feet Per Day (mmscfd) of gas to the domestic market and 3,318.25mmscfd of gas supplied to the export market for the month.

This implies that 64.48% of the average daily gas produced was commercialized while the balance of 35.52% was re-injected, used as upstream fuel gas or flared.

Gas flare rate was 7.67% for the month under review (i.e. 565.52mmscfd) compared with average gas flare rate of 7.12% (i.e. 529.20mmscfd) for the period of February 2020 to February 2021.

The February 2021 NNPC Monthly Financial and Operations Report is the 67th in the series. It is published in keeping with the Corporation’s commitment to transparency and accountability.

Who Is General Farouk, The New Chief Of Army Staff?

Greenbarge Reporters

May 27, 2021

The new Chief of Army Staff, Major General Faruk Yahaya was born on 5 January 1966 in Sifawa, Bodinga Local Government Area of Sokoto state. Maj Gen Yahaya who is a member of the 37 Regular Course of the prestigious Nigerian Defence Academy (NDA), started his cadet training on 27 September 1985 and was commissioned into the Nigerian Army Infantry Corps on 22 September 1990.
Maj Gen Yahaya has held several appointments including Staff, Instructional and Command.

Notable among the appointments held by the new COAS are Garrison Commander Headquarters Guards Brigade, Directing Staff at the Armed Forces Command and Staff College (AFCSC), Deputy Director Army Headquarters Department of Military Secretary, Deputy Director Army Research and Development and the Chief of Staff, Headquarters Joint Task Force Operation Pulo Shield.

He also served as the Principal General Staff Officer (PGSO) to the Honourable Minister of Defence, the Commander, Headquarters 4 Brigade and 29 Task Force Brigade (Operation Zaman Lafiya). He was also Director Manpower at the Army Headquarters, Military Secretary, Army Headquarters and General Officer Commanding (GOC) 1 Division of the Nigerian Army.

Until his appointment as the COAS, Maj Gen Faruk Yahaya was the Theatre Commander Operation HADIN KAI, responsible for Counter Terrorism and Counter Insurgency operations in North East Nigeria.

The new COAS is a proud holder of several honours and awards, some of which include, Forces Service Star, Meritorious Service Star, Distinguished Service Star, Grand Service Star, Passed staff course (Dagger), National DefenceCourse (Chile), Economic Community of West Africa State Monitoring Group Medal, Command Medal, Field Command Medal, General Operations Medal, Silver Jubilee Medal and Golden Jubilee Medal. He is happily married and blessed with children.

Please disseminate this information through your news medium.

ONYEMA NWACHUKWU
Brigadier General
Acting Director Defence Information

Buhari Picks General Farouk As New Chief Of Army Staff

Editorial staff

May 27, 2021

President Mohammadu Buhari has appointed Major General Farouk Yahaya as the new Chief of Army Staff.

In a three-paragraph statement today, May 27, the acting Director of Defence Information, Brigadier General Onyema Nwachukwu said that prior to his appointment Major General Yahaya was the General Officer Commanding 1 Division of the Nigerian Army and the incumbent Theatre Commander of the Counter terrorism Counter Insurgency military outfit in the North East code-named Operation HADIN KAI.

Libya Now Has One United Government, President Buhari Heard

Editorial staff

May 26, 2021

Chairman of the Presidential Council of Libya, Mohammed Younis Menfi, has informed President Muhammadu Buhari of Nigeria that his country now has one united government.

The two leaders spoke on the sidelines of the Summit of Lake Chad Basin Commission held in Abuja yesterday, May 25, to discuss the situation in Chad, and the implications for security in neighbouring countries.

The Libyan leader said that his country is fast evolving, “and we now have one government, active on the ground.

“We are expelling the mercenaries, and unifying the institions.”

He announced that democratic elections would be held in due course and that the historical relationship between his country and Nigeria in the areas of oil and agriculture meant that one country could not ignore the other.

“We aspire for joint cooperation, and reactivation of previous agreements.”

This was even as President Buhari made it clear that a stable or unstable Libya has implications for countries in the Lake Chad Basin area, including Nigeria.

“Republics of Chad, and Niger, have extensive borders with Libya, and they are our immediate neighbours. Whatever affects them affects us. The stability or instability of Libya will directly affect us.”

He stressed that security of Nigeria is number one priority to him, adding: “unless a country or institution is secured, there’s no way you can efficiently manage it.”

Malian President, Prime Minister Resign, Arrested

Editorial staff

May 26, 2021

Mali’s interim President and Prime Minister have resigned as part of mediation efforts after being arrested in an apparent second military coup in nine months, a top junta aide said.

President Bah Ndaw and Prime Minister Moctar Ouane, tasked with steering the return to civilian rule after a coup last August, resigned “before the mediator.” Baba Cisse, Special advisor to junta boss Assimi Goita said that negotiations were under way for their release and the formation of a new government in the poor Sahel country.

A member of the Economic Community of West African States (ECOWAS) mediation mission confirmed the president’s resignation to AFP, requesting anonymity.

The team travelled early today, May 26 to the Kati military camp around 15 kilometres (nine miles) from the capital Bamako to visit the two detainees.

Ndaw and Ouane had been heading the interim government with the declared aim of restoring full civilian rule within 18 months.

Federal Inland Revenue Intelligence Officers Apprehend Job Scammers

Editorial staff

May 26, 2021

Intelligence and Investigation Unit of the Federal Inland Revenue Service (FIRS) has arrested one Onuoha Onachi, a graduate of the Imo State University and her lover, Chinedu Okoro, specialising in job scamming.

They were found to be impersonating the Executive Chairman of the Service, Muhammad Nami on Facebook, to defraud unsuspecting job-seekers.

Onuoha Onachi claimed to be a graduate of Imo State University, awaiting call-up for the National Youth Service Corps (NYSC).

In a statement today, May 26, the Director in the Communications and Liaison Department of the FIRS, Dr. Abdullahi Ismaila Ahmad said that the arrest of the suspects followed a complaint by their victims.

He said that Okoro, who claimed to have been the owner of a failed boutique business, confessed that he took to the crime of impersonating the FIRS chairman on Facebook in March 2020 and that he created a phantom Director of the service with the name, Alhaji Tanko to dupe their victims.

According to Okoro, he opened two false Facebook accounts in the name of the FIRS chairman and the fictive Alhaji Tanko and populated one of the accounts with pictures of Mr Nami and the other with the internet-generated pictures of an innocent person to stand for Alhaji Tanko.

Through an elaborate scheme, Okoro proceeded to represent himself to unsuspecting job applicants whom he directed to one Kayode who in reality is the female suspect, Miss Onuoha. Speaking as the phantom Kayode, Miss Onuoha then redirected their victims to the fictitious Alhaji Tanko who in reality is Mr Okoro, the mastermind of the crime.

Speaking as Alhaji Tanko, Okoro then confirmed the availability of jobs at a price at the FIRS to the victims who were then cajoled to part with at least 60 per cent of a lump-some to secure their purported slots. Okoro confessed that he charged as much as N350, 000 per victim while Miss Onuoha admitted to having made N170,000 from the crime before being caught.

The suspects also confessed to have impersonated the Head of Service of the Federation to defraud job seekers in the past. They also confessed that the FIRS chairman knew nothing about their fraudulent activities as they have never met or had any kind of communication with Nami.

FIRS has consistently alerted the public in general to the activities of fraudsters like Okoro and Miss Onuoha through periodic job scam disclaimers published in national dailies and on many online news websites in the country.

Meanwhile, the suspects have since been handed over to the police for further investigations.

NNPC, Others Sign Multibillion Dollar Deep-Water Agreement: To Yield Over $780 Million

Greenbarge Reporters

May 26, 2021

The Nigerian National Petroleum Corporation (NNPC) and its Production Sharing Contract (PSC) partners – Shell Nigeria Exploration and Production Company (SNEPCo), Total Exploration and Production Nigeria Limited (TEPNG), Esso Exploration and Production Nigeria Limited (EEPNL) and Nigerian Agip Exploration (NAE) – have struck agreements to renew Oil Mining Lease (OML) 118 for another 20 years.

The five agreements signed include, Dispute Settlement Agreement, Settlement Agreement, Historical Gas Agreement, Escrow Agreement and Renewed PSC Agreement.

A statement by the Group General Manager, Group Public Affairs Division of the NNPC, Dr. Kennie Obateru, quoted the Group Managing Director of the Corporation, Mallam Mele Kyari, as saying that over $10bn of investment would be unlocked as a result of the agreements which signaled the end of the long-standing disputes over the interpretation of the fiscal terms of the Production Sharing Contracts (PSC) and the emplacement of a clear and fair framework for the development of the huge deep-water assets in Nigeria.

According to him, this is an indication of “a renewed confidence between NNPC and her partners; between the Government and the investing communities which include NNPC. It produces value for all of us by providing a clear line of sight for investment in the Bonga bloc of around $10billion,” Mallam Kyari stated.

He disclosed that the deal would yield over $780million in immediate revenues to the Federal Government while it would also free the parties from over $9billion in contingent liabilities.

“Ultimately, these agreements will engender growth in our country where investment will come in for other assets, not just in the deep-water, but even for new investors. It is an opportunity for them to see that this country is ready for business,” the GMD enthused.

He thanked President Muhammadu Buhari, the Minister of State for Petroleum Resources, Chief Timpre Sylva, and the NNPC Board of Directors for enabling the Corporation to achieve this laudable landmark.

Also speaking at the event, the Country Chair of Shell Companies in Nigeria, Mr. Osagie Osunbor, said the OML 118 renewal agreement would remain a watershed in the history of deep-water investments in Nigeria, assuring that the giant stride would further bolster investor confidence in the country.

Speaking in a similar vein, the Managing Director of SNEPCo, Mr. Bayo Ojulari, noted that the agreements marked the end of a twelve-year dispute that had marred business relationship and affected trust and investment.

“Today, we have signed agreements that define the future of deep-water for Nigeria. This is the first deep-water block that was developed in Nigeria and it is also the first one that we are resolving all the disputes that will lay the foundation for the resolution of other PSCs,” the SNEPCo helmsman stated.

On their parts, the Managing Directors of Total, Mike Sangster, Exxonmobil, Richard Laing and NAOC, Roberto Danielle, all applauded the GMD NNPC, Mallam Kyari, for providing leadership which engendered the resolution of the disputes, assuring that the agreements would attract more investments into the Nigerian Oil and Gas Industry.

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