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Mark Wants Enabling Environment For Indigenous Automobile Manufacturers

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Senate President, David Mark, has urged the
Federal Government to encourage indigenous automobile manufacturers by
providing them with a conducive environment.

According to him, the effort will also
enable Nigeria to achieve industrial revolution.

Mark made the call during Tuesday’s Plenary
Session while ruling on the bill for an Act to repeal the National Automotive
Council Act and the Centre for Automotive Design and Development Act.

The bill which seeks to provide for an Act
establishing the National Automotive Design and Development Council passed
through second reading on the floor of the Senate.

Mark said, “Government should encourage
private indigenous automobile manufacturing companies.

“We tend to discourage our local automotive
industry and unless we encourage them this country cannot achieve technological
development. ’’

He challenged the executive arm of
government to summon the political will to implement the various laws passed by
the National Assembly.

“My prayer is that we will have the
willpower to implement all the laws and resolutions emanating from the National
Assembly.

“For us, we are very prepared to push as
much as we can and leave it for those who have the power of implementation to
do so accordingly,’’ Mark added.

In his lead debate, the Leader of the
Senate, Sen. Victor Ndoma-Egba (PDP-Cross River) said the merger of the two
agencies would boost efficiency, productivity as well as generate employment opportunities.

Sen. Enyinnaya Abaribe (PDP- Abia) said
that the passage of the bill would spur the new agency to perform its
responsibility efficiently.

“Let the passage of this bill be a
challenge to spur the agency to perform with efficiency. We should not just set
up this agency but we must ensure that it performs, ‘’ he said.

Sen. Shola Adeyeye (ACN- Osun) urged the
Senate to go beyond the automotive industry by considering the merger of other
government agencies with similar functions.

“We can even go further to look at every
ministry and agency to consider where we can merge those who discharged similar
functions.

“We cannot have a functional automobile
industry until we have stable power and a functional steel industry,’’ he
added.

Sen. Chris Anyanwu (APGA- Imo) stressed the
need for government to invest in research and development as key to industrial
development.

“With their merger, I believe there will be
better synergy. “We have to invest on research and development, and shield our
research institutes from politics, ‘’she said.

Opposing the bill, Sen. Olubunmi Adetunmbi
(ACN-Ekiti) said the Senate could only debate the matter after studying the
report of the Stephen Orosanye-led Committee on rationaliation of government
agencies.

“It will be helpful for the Senate to have
access to the Orosanye report, and then we can have a holistic understanding of
the issues.

“This bill and the amendment it is seeking
are cosmetic. What we should concern ourselves with is the value this merger
and what it will add to the automotive industry,’’ Adeyeye argued.

Also opposing the bill, Sen. Ben Ayade
(PDP- Cross River) said there was no basis to merge the two agencies because
they performed different functions.

“Its unfair to merge these two agencies
because they have different functions.

“We should enact law to stop importation of
complete vehicles into the country and compel investor to set up assembly
plants in Nigeria, ‘’ Ayade suggested.

The Bill was referred to the Senate
Committee on Industries for further legislative action and expected to report
to the Senate in two weeks.

Meanwhile, the Senate on Tuesday observed a
one-minute silence in honour of the victims of the terrorist attack in Potiskum
and the late Nigerian football star, Mr Rashidi Yekini who died last week.

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Business

Investment Expert Urges FG To Partner Zuga To Grow E-Naira

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An investment expert in Port Harcourt, Revelation Ohio, has called on the Federal Government to partner with Sam Zuga to grow e—naira to become the Nigeria’s digital currency in the cripto market space.

He said this became necessary in line with what is going on in the global digital currency market, where many countries, including the developed Western nations, are keying into the cripto market.

Ohio, the Chief Executive Officer of the Leverage Hub Consulting Limited, who made this known while speaking in an investment forum in Port Harcourt on Sunday, said that Sam Zuga, a Benue State-born Reverend Father, was the first African to develop a digital coin, the Zuga coin.

He described the Reverend Father as a philanthropist who has made remarkable mark in investment all over the world, especially in Dubai, in the United Arab Emirates.

“Sam Zuga is the only African who has stretched himself to compete with those in developed countries in the cripto market, where all the digital coins are all non Africans.

“This man has stepped into the space and developed this coin named after him, and has strictly specified that the coin is African, and as we speak, this coin is strongly growing faster in the digital currency market.

“So it will be an advantage to the Federal Government, through the Central Bank that is considering to develop digital naira, to partner Zuga who is already in the space, as it used to be for those entering the market newly.

“This will have a multiplier effect on our people, as many unemployed persons will be engaged in the business, while the fortunes of many of the youths will be turned around”, he said.

The investment expert also urged the Nigerian public to take advantage of the space available in the cripto world to equip themselves financially, and get knowledge of the cripto market, since that is the way the world is currently going.

By: Corlins Walter

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Business

Brass Fertilizer Company To Create 15,000 Jobs

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Jobs – As Bayelsa Set For More Housing Estates

The Bayelsa State Government has allocated 595 hectares of land for the proposed Brass fertilizer company in Odioma Kingdom in Brass Local Government Area of the state.

This was as the government has also hinted that the bush clearing of the site of the said project has commenced in earnest.

The Bayelsa State Commissioner for Lands,Housing and Urban Development, Barr.Esau Andrew, disclosed this in Yenagoa, the state capital at the weekend.

He said that the Federal Government proposed project, when completed, was expected to create employment for not only qualified Bayelsans, but  has the capacity to engage no fewer than 15,000 workforce, with professional and un-professional qualifications.

Andrew who called for unity amongst the people of the host community, reiterated that the Governor Douye Diri’s led administration was willing to create the enabling environment for businesses to thrive in the state.

He averred that the government was also desirous of fast tracking the development of all communities and sectors of the state’s economy through impactful projects and programmes.

“The Brass fertilizer company is situated on a 595 hectares of land in Odioma kingdom of Brass council area.

“There are no problems with respect to the take-off and completion of this gigantic project, but what we currently have there are basically issues on intra-communal arguments as to who becomes the chairman, Odioma Council of Chiefs”, he said.

He added: “As a community member and commissioner in the state executive council, I can assure you that that can’t stall the project.

“Governor Diri has directed the community to toe the path of unity and peace so that they can benefit maximally from this enormous project, and the youths, chiefs and elders of the community are ready to do as directed by the governor”.

In the same vein, the government has reiterated its commitment to building additional housing estates in the state.

To this end, Andrew said that the Governor Diri administration in partnership with the Federal Government’s Ruhi 774 Housing Scheme and Shelter Afrique were set to build new 800 and 100 units housing estates, respectively in the state.

According to him, while the Ruhi 774 Housing Scheme being handled by Real Estate Development Association  of Nigeria (REDAN) is to build 100 housing units in each of the eight council areas of the state, Shelter Afrique on the other hand is expected to carry out the construction of another 100 housing units in Yenagoa.

He said further that the state government has also concluded plans to build additional 260 housing units in the yet to be developed hectares of land acquired by the previous administration for the Ayama-Ijaw Housing Estate in the Southern Ijaw council area of the state.

By: Ariwera Ibibo-Howells, Yenagoa

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Oil & Energy

Global Geopolitics, Neo-Colonialism Fuelling Apathy Against Crude Oil, DPR Hints

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Hints

The Department of Petroleum Resources(DPR), yesterday, allayed concerns over the future of crude oil globally, stating that the resource would continue to remain relevant for decades to come due to a number of emerging factors.

In his goodwill address at the ongoing 45th edition of the Society of Petroleum Engineers Nigeria Council(SPENC), Nigeria Annual International Conference and Exhibition(NAICE), Director and Chief Executive of the DPR, Engr Sarki Auwalu, argued that the current apathy towards crude oil is not driven by technical and economic considerations alone.

According to him, the ongoing narratives of the relative significance of each energy type and the clamour of ‘end of oil era’ is not informed by technical and economic considerations alone but by global geopolitics and the vagaries of neo-colonialism as well.

Auwalu maintained that crude oil’s continued relevance in decades to come is because of some of its features as an energy resource, which includes availability, accessibility, affordability, reliability, and efficiency.

This character of petroleum, he explained, gives it a degree of comparative advantage over emerging energy alternatives for secured and stable energy supply.

He said, “I would like to sum up the future of energy in these words: ‘for the foreseeable future, we would continue to see a mix of all energy sources – coal, oil, gas, nuclear, renewables – in the supply equation. Whereas renewable sources will make steady in-roads in the global mix, oil and gas will be relevant in decades to come’.

“This conclusion is informed by the outcomes of market analysis and forecasts based on demand-supply equilibrium, socio-economic fundamentals, climate change and environmental considerations as well as technology and innovation that is shaping the dynamics of global outlook.

“However, we would not delude ourselves that change is not happening; we must continually re-invent the industry and find ways to improve the environmental credentials of oil and gas by deploying technologies for carbon reduction and management to maintain its acceptability as fuel.”

He insisted that Africa, other oil-producing countries and members of the Organisation of Petroleum Exporting Countries(OPEC), must be key stakeholders in global energy discourse and ensure their voices and views are well articulated in discussions about the future of oil and gas.

“Indeed, as Africans, it must take its destiny in its hand and rewrite history, by leveraging abundant human and natural resources which nature has bequeathed on this great continent to create wealth for its people, eliminate poverty, and improve social-economic conditions while driving value for the globe. Only Africa can grow Africa,” he noted.

On its part, Auwalu disclosed that Nigeria had risen to the occasion, and had started using its oil and gas resources to drive value for national development in the face of challenges posed by energy transition and global dynamics.

Specifically, he explained that the DPR was fostering innovative ideas and creating opportunities for investments and sustainability in the petroleum industry, especially most recently, through the establishment of the National Oil and Gas Excellence Centre(NOGEC).

NOGEC, the DPR chief executive noted, was designed as a one-stop shop to drive safety, cost efficiency and value for the Nigerian oil and gas industry.

In addition, he said the DPR identified the need to formulate the Maximum Economic Recovery(MER) Strategy for Nigeria to guarantee the actualisation of sustainable resource optimization and the economic benefits arising therefrom.

The framework of the MER, he explained, was hinged on six pillars, namely: reserves maturation and production optimization; exploration and resources maturation; improved oil recovery and enhanced oil recovery (IOR/EOR) implementation; asset stewardship; performance evaluation and rewards; and risk management.

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