Connect with us

News

Transparency, new master plan vital for Niger Delta development -Wabote

Published

on

THE enthronement of transparency, prudent management of financial resources, and deployment of a new master plan are some of the strategies that would attract the private sector to support the Niger Delta Development Commission (NDDC) and return the agency to the path of sustainable development of the Niger Delta region, the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote has canvassed.

He made the submission in the keynote address he delivered at the NDDC Public-Private Partnership Summit 2023 held in Lagos on Tuesday, hinting that once the finances of the Commission are transparently and prudently managed, it will entice genuine local and international partnerships. He also recommended that the NDDC should project itself positively through its choice of signature projects and interventions and open its accounts and project sites for public scrutiny.

According to him, “capital is very shy and avoids controversies like a plague. In a situation where there are real or perceived infractions, corruption, lack of accountability, and other vices, capital attraction becomes a big challenge.”

He pointed out that NDDC has diverse sources of funding, some of which include the Federation Account, Oil Producing Companies, State Governments, and local or international grants, thus the Commission would be expected to demonstrate financial ingenuity before it could leverage for more capital.

The Executive Secretary based his recommendations against the backdrop of experiences at the Nigerian Content Development and Monitoring Board (NCDMB), which is currently rated as the best agency in the country by several independent arms of the Federal Government and the private sector.

While blaming the failure of the Niger Delta Regional Master Plan launched in 2007 on insufficient funding, frequent changes in leadership, delays in budget approvals, and other issues, he canvassed for a modified or an entirely new Niger Delta Master Plan, to be developed with the support of key stakeholders of the region.

He further advised the Commission to stick to its core mandate and avoid being pressured by interest groups to derail or dabble into projects outside its responsibility, emphasizing that the assessment of proposals should be strictly based on their sustainability, “otherwise, it would be money down the drain.”

The NCDMB boss further suggested that development and infrastructure projects should no longer be considered as gifts but as commercial ventures that need to be managed for profitability.

Speaking further, he lauded the management of the NDDC for embarking on the Summit themed “Rewind to Rebirth, describing it as “the start of a new dawn in making the Commission to retrace its steps back to the original objectives of its formation as an intervention agency for the development of the Niger Delta.

Wabote admitted that it was imperative for NDDC to explore innovative funding via PPPs as a credible option to meet the expanding developmental demands of the Niger Delta region, hinting that “PPP’s also bring with it corporate governance, technical expertise, and commercial acumen to enhance project delivery and successful operations.”

The highpoint of the summit was the signing of a Memorandum of Understanding (MoU) worth over $15 billion between the NDDC and Atlanta Global Resources Inc, an international infrastructure project financing firm, for the construction of a mega rail line that would connect the nine states that make up NDDC and ease the infrastructure deficit in the region. NDDC Managing Director, Dr. Samuel Ogbuku, described the deal as the first harvest of the PPP approach. He noted that NDDC could no longer shoulder the enormous responsibility of developing the Niger Delta region alone, hence the recourse to PPP model to provide alternative funding sources for critical developmental projects and programmes to effectively drive sustainable development in the region.

Other dignitaries who spoke at the event observed that most of the funds that had accrued to the NDDC in previous years had not been properly applied, thereby contributing to the continued underdevelopment of the region.

They charged the Ogbuku-led management of NDDC to chart a new course and partner with the various state government and other stakeholders to deliver impactful projects for the region.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Mushin LG Chairman flags off construction of Yusuf Street road, promises solar lighting

Published

on

The Mushin Local Government Chairman, Hon. Emmanuel Bamigboye on Wednesday flagged off the construction of Yusuf Street road in Papa Ajao.

The project is expected to bring relief to residents and traders in the area and is set to be completed within six months.

According to Bamigboye, the project is a fulfillment of his campaign promise to the people of Mushin, and he expressed gratitude to God for the opportunity to execute the project.

He urged residents to cooperate with the contractor and the local government to ensure the successful completion of the project.

The councillor representing the ward, Ayomide Abioye, expressed his joy and appreciation for the project, stating that it is the longest street in Papa Ajao and will bring immense benefit to the community.

Also, the Baba Oloja of Ladipo International Market, Eze Monday, also commended the Executive Chairman for the project, stating that it will make a significant impact on the development of the area.

The project includes the construction of the road and the installation of solar lighting, which is expected to enhance security and facilitate economic activities in the area.

Residents and traders in the area have been warned not to disturb the contractor or disrupt the project in any way.

Meanwhile, the traders applauded Hon. Bamigboye for demonstrating its commitment to infrastructural development and the welfare of its citizens.

Continue Reading

News

Giving back to community — Prof Oyedokun speaks on motives

Published

on

Lead Facilitator Professor of Accounting & Financial Development Founder OGE, Prof. Godwin Emmanuel Oyedokun, has disclosed that giving back to society community is his motive for pursuing his career.

He made the disclosure in an article titled “My motive for running a free professional diploma course in Forensic Accounting and Fraud Investigation is of several folds.”

He said, “Running a free professional diploma course in forensic accounting and fraud investigation is also motivated by my desire to give back to the community.

“By sharing my expertise and knowledge without any financial barriers, I am helping individuals from diverse backgrounds and financial situations to acquire valuable skills and advance their careers.”

The academic reiterated that the motive for running a free professional diploma course in forensic accounting and fraud investigation is centred around education, skill development, community service, and professional growth.

It is a way to contribute to the accounting profession, address a skill gap, and empower individuals in their pursuit of knowledge and career advancement.

According to him, “Promoting Education and Professional Development to contribute to the growth and development of the accounting profession by providing individuals with an opportunity to enhance their knowledge and skills in the specialised field of forensic accounting and fraud investigation.

“By offering this free course, i am enabling aspiring professionals to access valuable education that might otherwise be costly or inaccessible.”

The Don addressing the need for expertise in Forensic Accounting said, “In recent years, there has been an increasing demand for professionals skilled in forensic accounting and fraud investigation due to the rise in financial crimes and fraudulent activities. By offering this free course, I am helping to address this skill gap and aiding in the fight against financial fraud.”

Continue Reading

News

Airport tolls: Nigeria lost billions under old rules — Keyamo

Published

on

The Minister of Aviation and Aerospace Development, Festus Keyamo, has revealed that the Federal Government lost 82 percent which is equivalent to N10 billion in revenue that ought to accrue from airport tollgates under old rules.

Keyamo revealed this to State House correspondents during the week at the end of a two-day meeting of the Federal Executive Council.

The minister lamented that the ministry accumulated 82 percent in the negative from the complimentary e-tags printed by the ministry, noting that 82 percent of the e-tags are given free of charge to VIPs.

He stated, “Let me give you the shocking statistics. The negative figure that we get at the end of the day from the complimentary e-tags is 82 percent, in the negative.

“In other words, where we are supposed to have a 100 per cent contract on the e-costs from these e-tags that we print, it is only 18 per cent that we now end up selling. That is how bad it is. 18 per cent and 82 per cent of these e-tags are given out free of charge to VIPs. So, imagine the loss in my sector, and I ask myself,Which other sector will I go to that they give me anything free?’

“Is it because I’m a VIP that you say that in FCT, I should not pay land charges that you waive it for me? I pay for that sector. I pay for power. Yes, I pay for everything. So, why would anybody now come to my own sector and want to get free passage? Not possible. That is how bad it is.”

He added that free e-tags to the VIPs had in the past led to the loss of billions of naira

“So this has led in the past to loss of billions of naira, not millions, annually. Yet, our airport infrastructure, you know, is decaying. I am helpless. I’m looking for concessionaires. I’m looking for help with decaying infrastructure.

“They will be the first to cry out, these same VIPs – ‘why are the toilets like this? Why are your toilets smelling? Why can’t you do this?’ They are the same people, but they don’t pay for the services. So, if we want improved infrastructure at the airport, we must pay for services,” he said.

The minister lamented that due to the policy of exemption, the ministry makes only about N100 million instead of making about N260 million from a particular airport gate every month.

“I’ll give you another example. In one of the access gates, based on the count of the barrier going up and down, we are supposed to be making N250m or 260 million from that gate every month. That gate, because of exemptions, the return to us is less than N100 million every month,” he added.

To end the loss, the FEC decided that the president, vice president, and other top government functionaries would start paying access fees or the e-tag at all 24 federal airports across the country.

Prior to this development, the president, vice president, and some government officials were exempted from paying access fees at the airports’ gates.

Continue Reading

Trending