Connect with us


How Nigeria Can Avert Economic, Social Collapse -NLC



The Vice President of the Nigeria Labour Congress (NLC), Comrade Isa Aremu, said Nigeria must tailor its public spending to promote economic growth to avert social and economic collapse.
Aremu made the call in a paper titled “Nigeria’s Democracy and Economy Challenges” delivered  yesterday at a conference organised by the Kaduna State chapter of the Correspondents Chapel of the Nigeria Union of Journalists (NUJ), in Kaduna.  The conference has as its theme, “Nigeria’s Democracy and Emerging Security Challenges”.
He noted that Nigeria was still operating a “mono cultural economy based on pure extraction of oil and gas products without value addition. The GDP is being driven by oil and gas industry wholly dependent on imported fuel”, he stressed, adding that the nation would never grow in this manner.
The NLC vice president said the administration must redirect the economy to create value for its products, stating that this would generate massive employment needed “to mop up the high number of frustrated unemployed Nigerians currently on the street”.
He said the recent privatisation of the power sector must result in improved power supply to revitalise the manufacturing industry, which was key to bringing down current massive unemployment nationwide.
Aremu recalled the contributions of the manufacturing sector to Nigeria’s economic development in the past, saying government must focus attention in reviving the sector.
He said this was important in bringing to an end the recurring violence across the country precipitated by the pool of jobless, frustrated youths. “We must put industries at the heart of our economic recovery”, he said, adding that Nigerians should also begin to ask the leaders what they intended to do to transform the economy when elected in 2015.
He noted that none of the existing political parties in the country had any defined and identifiable policy, unlike in the second republic when each of the six registered parties had a peculiar policy thrust.
“Today’s political parties have no policy, the electorate have no idea what they are voting for. The economy should be at the heart of the issues for 2015.”
In a message to the occasion, Gov. Mukhtar Yero, represented by Alhaji Ismaila Isa, the Permanent Secretary Ministry for Information, said the administration was committed to the restoration of peace in the state.
He commended the chapel for organising the conference, saying the outcome would assist the government in its agenda for lasting peace and unity in the state.
Yero noted that peace had gradually returned to the state, attributing it to the collaboration existing between the people, government and security agencies.
Earlier in a welcome address, the Chairman of the chapel, Mr Luka Binniyat said the event was meant to generate discussions and chart a way for the restoration of hope in the Nigeria Project.
He assured that journalists in the state would continue to promote issues that would enhance peace, mutual respect and understanding, as well as engineer the government to do the right thing.

Continue Reading


DPR Plans Maximum Economic Recovery Strategy For Oil, Gas Industry



The Department of Petroleum Resources (DPR) says it is formulating a Maximum Economic Recovery (MER) strategy for Nigeria to attain maximum value delivery from its oil and gas resources.

The Director, DPR, Mr Sarki Auwalu, made the announcement during a keynote address at the 2021 Society of Petroleum Engineers (SPE) Nigeria Annual International Conference and Exhibition (NAICE), yesterday, in Lagos.

The conference has as its theme, “The Future of Energy –A Trilogy of Determinants: Climate Change, Public Health, and the Global Oil Market.”

Auwalu said the industry initiative was one of the outcomes of the work of the National Oil and Gas Excellence Centre (NOGEC), Lagos inaugurated in January by President Muhammadu Buhari.

He said, “Following an in-depth assessment of the status of the industry, the department identified the need to formulate the ‘Maximum Economic Recovery Strategy for Nigeria’.

“This is to guarantee the actualisation of sustainable resource optimisation and the economic benefits arising therefrom.

“The framework for this industry action plan outlines six pillars or building blocks.”

Auwalu said the pillars were: Reserves Maturation and Production Optimisation, Exploration and Resources Maturation, Improved Oil Recovery and Enhanced Oil Recovery, Implementation Asset Stewardship, Performance Evaluation and Rewards Risk Management.

According to him, the draft framework has been shared with the industry, including professional associations like the SPE and the National Association of Petroleum Explorationists.

He said this was in preparation for an industry collaborative workshop to co-develop and enunciate this strategy for immediate execution.

“We count on the contributions and buy-in of all stakeholders on this crucial national assignment for our overall benefit and industry sustainability,“he said.

Auwalu said Nigeria was rising to the occasion as the ‘trigger’ for continental growth and economic transformation using its oil and gas resources to drive value for national development.

He said the DPR would continue to foster innovative ideas and create opportunities for investments and sustainability in the industry.

Auwalu said, “As always, we are enthusiastic to collaborate with all relevant stakeholders, including the SPE, toward the realisation of government’s aspirations for the oil and gas sector.

“In our role as business enablers and opportunity providers, DPR will continue to promote efficiency to meet the needs of the industry, creating value, enhancing transparency, reducing barriers and transaction costs.”

Continue Reading


Pensioners Urge PenCom To Implement Unpaid 15% Increment



Pensioners under the Contributory Pension Scheme (CPS) have appealed to the National Pension Commission (PenCom) to implement their 15 and 33 per cent pension increment and other benefits.

The Contributory Pensioners Union of Nigeria (CPUN), South-West Zone, made the appeal,yesterday, during a peaceful protest held in Ibadan.

The CPUN President, Mr Joseph Idowu, while addressing newsmen said that PenCom has yet to implement the increment since 2007 and 2010 in spite of various promises.

Idowu said that their counterparts, under the Defined Benefit Scheme (DBS), had been enjoying the increment through the proactive stand of Pension Transitional Arrangement Directorate (PTAD).

“The new consequential adjustment in pension due to the latest increase in workers’ salaries and wages are also being enjoyed by pensioners under DBS, neglecting the CPS pensioners.

“No CPS pensioner has received any interest on their accrued benefits since 2007 till date.

“We require your urgent attention to ensure that arrears on this are calculated and paid at the Federal Government official rate, as at the time of retirement,” Idowu said.

The president said that his members were suffering as some of them collect as low as N3, 000 as their monthly pension which was not accepted.

Idowu also said that his members were not happy with the delay in the payment of their retirement benefits, which the commission now paid after one year of retirement, contrary to PRA Act 2004 (Amended).

He said that Section 16 (5) of PRA Act 2004 says pensioners should be paid not more than three months after retirement.

Idowu, however, commended the commission for prompt payment of their monthly pension, urging them to prioritise welfare of pensioners under the CPS.

Also, a member of the union, Mrs Clara Fumilayo, called on the Federal Government to assist the pensioners,

Fumilayo said that their monthly pension could no more buy any tangible things based on the situation in the country.

Continue Reading


‘Only 29% Of Babies Breastfed Due To Reliance On Breast Milk Substitute’



A professor of Paediatric and Child Health, Alice Romoke-Nte, says the aggressive marketing of breast milk substitute by manufacturers was responsible for the gap in breastfeeding of children by mothers in Nigeria.

Nte, who is also the coordinator, Baby Friendly Initiative at the University of Port Harcourt Teaching Hospital (UPTH) said the advertising of these baby food weakens the confidence of the mothers and makes them feel that these breast milk substitutes are better off.

She said this has left only 29 percent of Nigerian babies breastfed as a result.

Nte said the UPTH, Rotary Clubs in Port Harcourt and other stakeholders were using this year’s World Breastfeeding Week to carry out aggressive campaigns to raise awareness for the need of exclusive breastfeeding.

She said the international code of marketing of breast milk substitutes would be included in steps to ensure full compliance of marketing these artificial body foods.

Rotary Clubs in Port Harcourt that joined in the rally yesterday morning for exclusive breastfeeding to mark the World Breastfeeding Week includes, Rotary Club of Port Harcourt Garden City, Top Health, Seaport, Eco, Atlantic City, and Golf Estate.

Others include, Rotary Club of Port Harcourt Gateway, City Valley, Passport, Creek View, Sky Waves, and Rotary Club of Port Harcourt.

Continue Reading