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Minister Lists Gains Of Oil Spill Detector

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The Minister of Environment, Mrs Laurentia Mallam, said last Thursday in Abuja that the installation of oil spill detection equipment would  ensure effective oil spills management in the country.
She said this at the commissioning and handing over of the oil spill detection equipment procured by the National Oil Spill Detection and Response Agency (NOSDRA).
The three equipment commissioned and handed over to NOSDRA were the Geographic Information System (GIS), laboratory equipment for NOSDRA office in Port Harcourt and the oil spill detection and monitoring equipment.
Reports say that the GIS and the oil spill detection and monitoring equipment have been installed in the six NOSDRA zonal offices which include Abuja, Lagos, Port Harcourt, Warri, Uyo and Kaduna.
She said that the procurement and the installation of the equipment were aimed at checking the rising cases of oil spillage and pollution which impact on the environment negatively.
She urged NOSDRA to ensure effective deployment of the equipment by ensuring the early detection of any act of spillage in the country.
The minister decried the dependence of the agency on oil producing communities for information during oil spill occurrences, saying that this militated against effective response to oil spill incidents.
She said that the equipment would enable the staff to sit in their offices and detect oil spillage whenever and wherever it occurred.
Meanwhile, Mallam said that the selection of Nigeria to host the regional marine pollution control centre was based on merit.
She, therefore, urged well meaning Nigerians as well as oil and gas industry regulators and operators to support the government’s efforts to stem oil spill.
“I am fully aware that this project is one of many interventions by the National Committee on Environment (NCEP) to reposition critical agencies towards effective service delivery.
Earlier, Mr Peter Idabor, the Director-General of NOSDRA said that the installation of the equipment would enable the agency to ensure timely, effective and appropriate response to all oil spills.
Idabor said that the equipment would further ensure the clean-up and remediation of all oil impacted sites.
He said that the agency had over 150 engineers in the field who were capable of sustaining the equipment as well as ensuring effective usage.
According to him, with this equipment, oil spill monitoring can now be online for any body to monitor it and report to relevant agencies.
He commended the Ecological Fund Office (EFO) for approving the projects, adding that the intervention would enhance the professional management of oil spill in the country.
In his remark, Alhaji Goni Sheikh, the Permanent Secretary, Ecological Fund Office (EFO), commended the agency for putting the equipment to good use.
Sheikh, who did not mention the cost of the project said the agency was satisfied with the project execution.
“We are convinced that NOSDRA will put the project to its good usage; and we have already sent our staff to the project sites where they tested those equipment and they work.”
The projects were awarded by the EFO in 2009 to assist the agency to effectively manage oil spills in the Nigerian environment.

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Nigeria’s Revenue-To-GDP Ratio Lowest, Private Sector Choking – World Bank

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Nigeria’s revenue-to-Gross Domestic Product ratio, which fell to between five and six per cent last year, is the lowest in the world, the World Bank said on Monday.
The Country Director for Nigeria, World Bank, Dr Shubham Chaudhuri, said this during a panel session at a virtual public sector seminar with the theme ‘Nigeria in challenging times: imperatives for a cohesive national development agenda’ organised by the Lagos Business School.
Chaudhuri, who stressed the need for private investment for the country to realise its potential, said the private sector in the country ‘is struggling to breathe’.
“In Nigeria, I think the basic economic agenda is about diversification away from oil because oil has really been like resource curse for Nigeria on multiple dimensions,” he said.
He noted the aspiration of the President, Major General Muhammadu Buhari (retd.), to lift 100 million Nigerians out of poverty by the end of the decade.
He said, “Nigeria is a country with tremendous potential. If you look at the synopsis for this panel, it suggests that Nigeria is at a critical juncture – almost at the moment of crisis.
“Despite all of that, Nigeria is still the largest economy in Africa. So, just think about the potential that Nigeria has because of its natural resources, but more than that, because of its dynamism and all of its population. Nigerians are more entrepreneurial by nature.
“No country has become prosperous and realised its potential, eliminated poverty without doing two simple things: investing in its people, and unleashing the power of the private sector in creating jobs by investing and growing business. And then, of course, the basic function of the state is to provide security and law and order.”
According to Chaudhuri, to invest in people entails basic services, basic education, primary healthcare and nutrition, among others.
He said, “On this, Nigeria at the moment ranks sixth from the bottom in terms of the human capital index that we produce every year.
“So, obviously, there is a huge agenda in terms of investing in human capital. Nigeria spends more on PMS (premium motor spirit) subsidy than it does on primary healthcare in a year, and we know who the PMS subsidy is benefitting.”
He indicated that despite the country’s huge potential to attract private capital, the non-oil part of the economy ‘is not growing that robustly and certainly not generating revenues that the government needs’.
Chaudhuri said, “So, we see as priorities investments in human capital. But for that, one needs revenues. And there again, Nigeria unfortunately has the distinction of having about the lowest revenue-to-GDP ratio in the world.
 ”The standard rule of thumb is that for government to provide the basic services and law and order, it needs between 15 to 20 per cent of GDP as being revenue, and this will be both at the federal and state levels combined.
“In Nigeria, it was eight per cent in 2019. In 2020, in the middle of the Covid-19 crisis and with the fall in oil prices, that went down to about between five and six per cent.
“So, domestic revenue mobilisation is huge. And then the third is enabling the space for private investment. You have to fix the power problem. Power is like the oxygen of an economy. In Nigeria, the private sector is struggling to breathe.”

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CBN Stops Sale Of Forex To BDCs

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The Central Bank of Nigeria (CBN) as announced immediate discontinuation of sale of Foreign Exchange (forex) to Bureau de Change (BDC) operators in the country.
Mr Godwin Emefiele, the CBN Governor , made this announcement yesterday, while presenting a communique from the apex bank’s Monetary Policy Committee (MPC) meeting in Abuja.
Emefiele said that the decision was informed by the unwholesome business practices of the BDCs, which he said had continued to put enormous pressure on the Naira.
He  said ,  henceforth,  the apex bank would sell forex to deserving Nigerians through the commercial banks.
“ The BDCs were regulated to sell a maximum of 5000  dollars per day,  but CBN observed that they have since been flouting that regulation and selling millions of dollars per day.
“The CBN also observed that the BDCs aid illicit financial flows and other financial  crimes.  The bank has thus, decided to discontinue the sale of forex to the BDCs with immediate effect.
“We shall, henceforth,  channel all forex allocation through the commercial banks,” he said.
He urged the commercial banks to ensure that every deserving customer got their forex demand,  adding that any bank found circumventing  the new system would be sanctioned.
“Once a customer presents all required documentation to purchase forex, the commercial banks should ensure they get the forex.
“Any customer that is denied should contact the CBN on 0700385526 or through the email- cbd@cbn.gov.ng “ he said.
The Tide source reports that stakeholders have been calling on the CBN and its MPC to take urgent steps to halt unending depreciation of the Naira.
Recently,  a past President of the Chartered Institute of Bankers of Nigeria (CIBN),  Mr Okechukwu Unegbu,  urged the MPC to focus on policy decisions that would curb rising inflation and stabilise the Naira.

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RSG To Privatise Songhai, Fish Farms

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There are strong indications that the Rivers State Government has concluded plans to privatise the moribund Songhai Farm in Tai and Fish Farm in Buguma.
The State Chairman of the Peoples Democratic Party (PDP), Amb. Desmond Akawor, gave this indication while appearing in a phone-in radio programme organised by Silverbird Communications in Port Harcourt at the weekend.
He explained that the previous administration in the state failed to put in place a sustainability programme for these farms, hence they went moribund.
In order to reverse the situation, he said that the present administration was now contemplating a rehabilitation scheme to be driven by a privatisation policy to enable those investments come on stream.
He said the scheme had reached an advanced stage and is to executed by the State Ministry of Agriculture.
On the issue of job creation, Akawor said the administration of Chief Nyesom Wike was using the various construction projects around the state to empower the youths.
He explained that the government had floated a special scholarship scheme in Law and Medical Sciences to create opportunities for young people in various professions.
He called on the opposition to desist from de-marketing the state through propaganda as it’s capable of scaring investors away from the state.
Akawor insisted that the Wike led administration has provided an enabling environment for businesses to thrive through infrastructure and improved security.

By: Kevin Nengia

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