Connect with us

News

NEITI to unveil 2022/2023 oil, gas, solid minerals reports September – Orji

Published

on

The Nigeria Extractive Industries Transparency Initiative (NEITI) says it will unveil its 2022/2023 reports on oil, gas and solid minerals industries on Sept. 24.

Executive Secretary, NEITI, Dr Orji Ogbonnaya Orji, said this at the global Extractive Industries Transparency Initiative (EITI) media briefing on Friday in Abuja.

He said NEITI focuses more on content and that the two separate reports would be presented simultaneously to ensure current and globally acknowledged reliable data.

The News Agency of Nigeria (NAN) reports that the international partner, EITI is on a mission to Nigeria to assess NEITI’s post validation plans and how to support the EITI implementation in Nigeria.

The international delegation was led by Dr Bady Balde, Deputy Executive Director, Global EITI Secretariat.

Orji said some local challenges, including time of resettlement affected the production of the reports, adding that the challenges had been sorted out and by September the reports would be published.

He said it received the delegation of its international partners, following the performance of Nigeria in the last EITI validation that was conducted, adding that the visit would feature knowledge sharing and capacity building, among others.

“Validation is a global assessment that holds all implementing countries to the same standard and Nigeria scored 72 per cent, excelled and recorded over 90 per cent in quality and reliability of data.

“Their visit is timely because we are trying to align our operations and mandates to the priorities and strategic development goals of the renewed hope agenda of the President Bola Tinubu administration,” he said.

The executive secretary said the organisation also had engagement with the National Assembly on the review of the NEITI Act and received assurances that it would be taken seriously.

He said the idea was to align the NEITI Act with the Petroleum Industry Act (PIA 2021) and the current economic realities of the government, which was focussing more on revenue.

“We have done an in-house review of that Act and are seeking legal opinion. Consultants are working on it, while we are working with the national assembly to see how to help us,” he said.

He said his management had looked at the EITI 23 standard agreed upon in Senegal and emerging issues in the global EITI, which included energy transition, contract transparency and beneficial ownership.

According to him, the issues also include open and accessible data, climate change and gender inclusiveness, environment and a number of areas where the law is deficient.

“We also want to see what could be done to make NEITI less dependent on government for funding.

“Also to see if there are windows where our reports which usually lead to recovery of huge revenue could aid in giving some soft landing in terms of supporting government for funding instead of relying wholly on government,” he said.

Speaking earlier, Balde had expressed dissatisfaction with the publication of old data, adding that timeliness of data was necessary to cover current relevant issues.

Balde said data publishing should not be delayed, adding that many countries had gone far in producing data in the public domain including Senegal, Zambia, Norway, among others.

Balde, while describing NEITI as the largest secretariat by staff in the world with twice the number of staff at its headquarters, called for more technical assistance, engagement and timely data publication to avoid speculation.

He urged the internal governance of NEITI to sustain its principle and uphold values by practicing what it preached and maintain highest level of transparency and credibility.

He supported the amendment of NEITI’s act to address the imperfections of the law. 

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