Business
‘Oil Sector Reforms ’ll Boost Accountability’
President Muhammadu Buhari has in Abuja assured investors that his administration would implement far-reaching reforms to boost accountability and transparency in Nigeria’s oil and gas industry.
The President was speaking at a meeting with senior officials of Chevron led by the company’s President for Africa and Latin America, Mr Ali Moshiri in Abuja on Monday.
He declared that his administration was ready to effectively address the myriad of challenges in the sector.
“We understand the situation in the industry and we will do our best to address the challenges affecting exploration, production and distribution of oil products in the country,’’ the President told the delegation.
Acknowledging the merits of the Amnesty Programme initiated by President Umar Yar’Adua to reduce violence in the Niger Delta region, President Buhari said that his administration would build on good aspects of the programme.
The President stated that his administration would also implement other measures to enhance security in the Niger Delta and optimize investments in Nigeria’s oil and gas industry.
Earlier in his remarks, Moshiri had urged President Buhari to restore the confidence of international investors in the industry.
He identified improved security in the Niger Delta as key to increased investment in the oil and gas sector in Nigeria.
Moshiri said that Chevron, which has 36.7 per cent interest in the West African Gas Pipeline Company Limited, was keen to support Nigeria’s gas sector and bring more electricity to Nigerian consumers.
Business
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Business
Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
Business
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