Headlines
Nigeria lost $50bn to the delayed passage of PIB -Buhari
President Muhammadu Buhari has lamented a loss of $50bn worth of investments in the petroleum industry since 2011 due to the absence of the Petroleum Industry Act.
Buhari made this assertion in Abuja on Wednesday at a ceremony on passage of the PIA, which preceded the Federal Executive Council meeting.
Special Adviser to the President on Media and Publicity, Femi Adesina, disclosed this in a statement titled ‘Nigeria Lost Estimated $50bn worth of Investments in 10 Years Due To Stagnation, Uncertainty Over Petroleum Industry, Says President Buhari’.
According to the President, the loss was due to the uncertainty of non-passage of the Petroleum Industry Bill, lack of progress, and stagnation in the petroleum industry which he blamed on the lack of political will on the part of past administrations to actualize the needed transformation.
The President said assent to the Petroleum Industry Bill on August 16, 2021, marked the end of decades of uncertainty and under-investment in Nigeria’s petroleum industry.
He said, “We are all aware that past administrations have identified the need to further align the industry for global competitiveness, but there was a lack of political will to actualize this needed transformation.
“This lack of progress has stagnated the growth of the industry and the prosperity of our economy. In the past 10 years, Nigeria has lost an estimated $50bn worth of investments due to uncertainty created by the non-passage of the PIB.
“This administration believes that the timely passage of the Petroleum Industry Bill will help our country attract investments across the oil and gas value chain.
“Because of the value our nation and investors will derive from a stable fiscal framework for the oil and gas industry, our administration has found it necessary to work with the two chambers of the National Assembly to ensure the passage of the PIB.’’
The president noted that the signing of the bill was part of the regime’s commitment to building a competitive and resilient petroleum industry that will attract investment, improve revenue base, create jobs, and support the economic diversification agenda.
He added that the PIA became necessary because Nigeria runs a petroleum industry that is governed largely by laws enacted over 50 years ago such as the principal legislation; the Petroleum Act of 1969 and other outmoded legislations.
He appealed to host communities to accept the new regulation, saying that it would bring lasting benefits to them.
“The Act also provides for a direct benefit framework that will enable the sustainable development of Host Communities. I appeal to the host communities to look carefully at the contents of the Bill which in the implementation will bring real and lasting benefits to them.
“Furthermore, the Act provides for a deliberate end to gas flaring which would facilitate the attainment of Nigeria’s Nationally Determined Contributions of the Paris Agreement through a funding mechanism to support gas flare out of the project in host communities,’’ he added.
While directing the immediate implementation of the framework for the PIA, he urged all relevant stakeholders to comply and reposition for full activation within 12 months.
According to him, the Minister of State for Petroleum Resources, Timipre Sylva, will head the implementation team, urging all Ministries, Departments, and Agencies to adjust to the transition, designed to reposition the economy.
“To consolidate the commitment of this administration to delivering the value proposition of this law, I have approved an implementation framework commencing immediately to ensure the industry envisaged in the new law begins to take shape.
“The implementation process to be headed by the Hon Minister of State, Petroleum Resources is hereby tasked with the completion of the implementation of this act within 12 months. I am therefore directing all relevant Ministries, Departments, and Agencies of government to fully cooperate in ensuring the successful and timely implementation of this law,’’ he said.
Buhari further thanked the 9th National Assembly for its demonstration of mutual harmony with the Executive in the passage of the bill.
In attendance were the Senate President, Dr. Ahmed Lawan; Deputy Senate President, Ovie Omo-Agege; Deputy Speaker Ahmed Wase and other lawmakers, members of the Federal Executive Council, and Group Managing Director of NNPC, Mele Kyari.
Headlines
Rep felicitates Wike on emergence as THISDAY/Arise TV Minister of the Year
The Chairman House of Representatives Committee on Federal Capital Territory (FCT), Rep. Aliyu Betara (APC-Borno), has congratulated the FCT Minister, Mr Nyesom Wike, on his emergence as THISDAY/Arise TV Minister of the Year.
Betara, in a congratulatory message issued in Abuja, eulogised the leadership virtue and dedication of the minister to infrastructural development in the territory.
The lawmaker, representing Biu/Bayo/Shani/Kwaya Kusar Federal Constituency of Borno, said that the award was well-deserved.
“On behalf of the House of Representatives Committee on FCT, I wish to extend my warmest congratulations to the FCT Minister, Mr Nyesom Wike, on your well-deserved recognition as the Minister of the Year by THISDAY/Arise TV.
“This prestigious honour is a testament to your visionary leadership, tireless dedication and exceptional contributions to the infrastructural transformation in the territory.
“Your unwavering commitment to service and your determination to improve the lives of residents and visitors alike to the FCT has been nothing short of exemplary.
“Through your bold initiatives and strategic policies, you have not only enhanced the aesthetics and functionality of Abuja, but have also reaffirmed the FCT’s position as a beacon of progress and modernity in Nigeria,” he said.
Betara said that the recognition was a reflection of the positive impact of Wike’s work and the admiration he had earned across various sectors.
While describing the recognition as an outstanding achievement, the lawmaker prayed that the milestone would serve as an inspiration for greater accomplishments in service, with integrity and purpose.
Headlines
Court adjourns case against ex-Kogi governor, others
A Federal Capital Territory High Court on Wednesday, adjourned hearing in the alleged money laundering case against former governor of Kogi, Yahaya Bello until April 3 and April 24.
Justice Maryann Anenih adjourned the case for continuation of hearing after the first witness, Fabian Nworah, a property developer, was called to testify.
The Prosecution Counsel, Kemi Pinheiro, SAN, informed the court that he had five witnesses to call for the day.
Justice Anenih said she could only take one witness as she had other matters to attend to.
The court also announced that it would not be sitting on Thursday as previously scheduled.
Counsel for the 1st and 2nd Defendants, Joseph Daudu, SAN, however, informed the court that the prosecution had not made the statements on oath of the 2nd defendant available to the defence team.
He said he was aware that the first defendant had not made any statement.
Daudu also objected to the witness presented by the prosecution, arguing that the defendants had no prior knowledge of the witness and were only seeing him in court for the first time.
Citing authorities, he emphasised that legal proceedings should not be a “hide and seek” game, stating that the prosecution was required to provide the witness’ statements on oath in advance so the defence could adequately prepare for cross-examination.
“The statements of the second defendant have not been served on us to be able to know if we will be able to represent him or not.
“So, it is a serious handicap on us. They need to serve us all the statements made by the defendants.
“I understand the first defendant has not made a statement. Fortunately, we are still within the house keeping stage of the proceeding,” he added.
Corroborating this, counsel for the 3rd Defendant, Abubakar Aliyu, SAN, said, “mine is not a comment but an observation my lord. My application is for the court to order the prosecution to provide us with the statements of the 2nd and 3rd defendants.”
When the judge asked if he had requested for the statements, Aliyu SAN said, he discovered on Tuesday that the said statements were not part of the proof of evidence served on the defendants.
He said: “I am also applying that the court order the prosecution to provide us with copies of recovered digital device and the report or the extract therefrom mentioned on Page 14 of Volume 1 of the proof of evidence and the report of the forensic expert if any.
“I am following the procedure followed in Okoye against the Commissioner of Police, which was adopted by the Supreme Court in Okemini Vs Commissioner of Police.”
The prosecution witness, however, disagreed, saying the defendants were trying to delay speedy trial.
He insisted that the proof of evidence was served on the defendants on Nov. 27, 2024.
“The constitutional provisions, which they rely on, does not imply that the prosecution should provide all the documents which it relies on.
“The law only provides that the prosecution should oblige the defence with all the documents requested for,” Pinheiro argued.
He noted that the issues would be addressed whenever they receive formal applications from the Defendants and urged the court to proceed on the business for the day.
“As it is, we have almost utilised more than an hour on these arguments,” he stated.
The judge asked the defendant’s counsel why he did not raise the issues in December.
Daudu SAN replied that it was because it had to be done after arraignment.
“I have applied and they are not obliging me. It is absolutely necessary for our defence,” counsel for the 3rd defendant said.
The judge, however, declined the application for adjournment and directed the prosecution to proceed with the case.
The prosecution then proceeded to call its first witness, Fabian Nwora, a property developer with EFAB Property Nigeria Limited.
Nwora testified that he was invited to the Economic and Financial Crimes on Feb. 8, 2023, regarding a transaction between Shehu Bello and EFAB Property concerning a property located at No. 1 Ikogosi Street, Maitama.
He stated that he sold the said property to Shehu Bello but observed that the name on the sale agreement was Dr Bello Ohiani, not Shehu Bello.
He said, in 2023, Shehu Bello approached EFAB Property, informing them that the property was under investigation by the EFCC.
He returned all documents related to the purchase and demanded a refund of the N550million that was paid.
Subsequently, he said, EFAB Property was invited by the EFCC to explain what transpired between them and Shehu Bello.
The EFCC instructed the company to refund the entire sum to an EFCC-designated account. EFAB Property complied in two batches of N400 million and N150 million.
Headlines
Kebbi to upgrade Zuru hospital to referral centre
The Kebbi Government says it is assessing the condition of the Zuru General Hospital with the aim of upgrading it to a referral centre.
Gov. Nasir Idris stated this when he visited the Emir of Zuru, Alhaji Muhammadu Sani-Sami on Wednesday in Zuru.
Idris visited the emir to thank the people of Fakai, Sakaba, Danko/Wasagu and Zuru Local Government Areas that make up the emirate.
Idris said that upgrading the Zuru General Hospital to a referral centre would ease the difficulties faced by people of the emirate.
The governor said that quality healthcare services remained an utmost priority of his administration.
He said that the Sir Yahaya Memorial Hospital, Birnin Kebbi and the State Medical Centre, Kalgo, currently serving as referral health institutions were overstretched.
“The government is committed to reversing the trend by making referral hospitals close, accessible and affordable to the people of the state,” he said.
On the expansion of the Zuru Water Works and construction of urban township roads, Idris promised to reappraise the facilities for necessary action.
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