Minister of Mines and Steel Development Musa Sada has urged Ukrainian entrepreneurs to invest in Nigeria’s steel sub-sector.
A statement issued in Abuja by the minister’s Press Secretary, Marshall Gundu, said that Sada made the call during a meeting with a delegation of Ukrainian investors from Reprom Company, led by the Ukrainian Ambassador to Nigeria, Mr Valerri Vasyliev.
Sada pledged Nigeria’s readiness to partner with Ukranian investors in efforts to develop the mines and steel sector.
The minister said that the Federal Government had already put in place some regulatory instruments with the enactment of the Minerals and Mining Act of 2007 to revitalise the mining industry.
He said that the mining law had created an enabling environment for potential investors, adding that the government only played the roles of a regulator, while the exploitation and exploration of mineral resources were left in the hands of investors.
Sada said that his ministry was working aggressively to make some parts of Ajaokuta Steel Company Limited and National Iron Ore Mining Company, Itakpe, operational.
He stressed that the overhaul of some parts of the two companies would improve the companies’ physical and economic appeal to potential investors.
“If we put life in the two companies now, it will be better for us,’’ he said.
The minister, however, said that efforts aimed at moving Ajaokuta Steel Company Limited forward must include the engagement of its workers to man the steel plant.
“If we want to take Ajaokuta Steel Company Limited forward, we will have to work with the old hands,” he added.
Sada said that the government had received the preliminary report on the technical audit of the two companies, adding that the final report was being awaited.
The minister assured the delegation of the Federal Government’s determination to collaborate with interested investors in developing the country’s mining sector.
In his remarks, the Ukrainian envoy, Vasyliev, said that the purpose of the visit was to indicate the investors’ interest in plans to develop Nigeria’s steel sub-sector.
He also commended the minister for the support and cooperation which Ukranian investors were receiving from Nigeria.
Vasyliev said that Reprom Company commenced operations in Nigeria in 2004, adding that, the company had successfully rehabilitated and managed some rolling mills in Nigeria.
He said that the company also carried out the technical audit of Ajaokuta Steel Company and National Iron Ore Mining Company, Itakpe.
EFCC Re-Arrests Fani-Kayode
A former Aviation Minister, Femi Fani-Kayode has been re-invited by the Economic and Financial Crimes Commission (EFCC) following investigations into alleged document falsification
Fani-Kayode alongside a former Minister of State for Finance, Nenandi Usman, is standing trial on alleged N4.6billion money laundering, before Justice Mohammed Aikawa.
Other defendants are Yusuf Danjuma, a former chairman of the Association of Local Governments of Nigeria (ALGON) and a company, Jointrust Dimensions Nigeria Ltd.
They are facing a 17-count charge of money laundering preferred against them by the anti-graft agency.
They had each pleaded not guilty to the charges and were granted bails.
The trial had begun before Justice Aikawa and witnesses were still being led in evidence until Aikawa was transferred out of the Lagos division.
The charge was consequently, re-assigned to a new judge, Justice Daniel Osaigor, and the defendants were scheduled for re-arraignment on October 27.
Meanwhile, at the last adjourned date, FaniKayode was absent from court and the defence counsel who appeared on his behalf, Mr Fred Ajudua informed the court that he was on admission at Kubwa General Hospital in Abuja.
He had prayed for an adjournment on that ground on behalf of the second defendant
But, the EFCC prosecutor, Mrs BilikisuBuhari, informed the court that the same tactics had always been adopted by the defendant whenever he does not want to attend court.
After going through the court’s records, Justice Osiagor noted that it was clear that the defendant had issued a similar letter of excuse five times.
Abiodun Presents N350.74bn 2022 Budget To Ogun Assembly
Governor Dapo Abiodun has presented the 2022 appropriation bill of N350.74 billion to the Ogun State House of Assembly.
Abiodun, yesterday, presented the bill, tagged ‘Budget of Restoration’ to the lawmakers at the Assembly Complex, Oke-Mosan, Abeokuta.
Addressing the assembly members at a ceremony presided over by the Speaker, Olakunle Oluomo, Abiodun reiterated his determination to give priority attention to the completion of existing projects, projects with revenue potential and projects that can enhance employment generation.
According to the governor, the total state funding is estimated at N350.74 billion in 2022.
This, Abiodun said, “includes Ogun State Internal Revenue Service (OGIRS) estimates of N56.30 billion and other Ministries, Departments and Agencies (MDAs) estimated at N96.87 billion totaling N153.17 billion. Statutory allocation (i.e. FAAC and VAT) is expected to be N73.01 billion while the capital receipt is estimated at N124.56 billion (i.e. Internal and External loans including Grants and Aids etc).”
On planned expenditure, Abiodun explained that “the aggregate expenditure of N350.74 billion is proposed for the State Government in 2022.”
Under recurrent expenditure, a total of N75B is to be expended in paying salaries and allowances in MDAs; N28b on debt service obligations and N51b on total overhead costs of MDAs and government-owned enterprises.
For capital expenditure, Abiodun said N170 billion is budgeted, being an increase of N10 billion over the 2021 approval of N160 billion.
He added that a total sum of N7.7billion is provided for transfers to the Stabilization Fund to insulate and position the State towards unprecedented activities or economic shocks.
Of the entire budget, Education gulps N56,071.21b, representing 16 percent; while Health takes N35,073.51b, being 10 percent.
Infrastructure takes the largest share of N77,775.77, which is 22 percent of the budget.
The Assembly is expected to legislate on the appropriation bill and return a clean copy to the governor for his assent.
The Speaker assured Abiodun of a speedy and thorough legislative process on the proposed budget with a view to sustaining the tradition of its passage on record time to comply with the January to December cycle in line with the international financial standards.
ICPC Uncovers N20bn Project Duplication, Personnel Budget Fraud In MDAs
The Independent Corrupt Practices and other related offences Commission (ICPC) says it has uncovered gross abuse of personnel budget as well as duplication of projects by some federal Ministries, Departments and Agencies (MDAs) amounting to over N20.138 billion.
The duplication and padding occurred in the implementation of the 2021 budget and involved about 257 projects, the anti-corruption agency said its review shows.
The anti-graft agency said it is investigating the Ministry of Labour and the University College Hospital Ibadan as well as corrupt staff members in other MDAs suspected of massive illegal recruitment.
ICPC chairperson, Bolaji Owasanoye, made the disclosure in his welcome address at the 3rd National Summit on Diminishing Corruption in the Public Service and Presentation of Public Service Integrity Award on Tuesday.
Themed, ‘Corruption and the Cost of Governance: New Imperatives for Fiscal Transparency’, the event was held at the State House Conference Hall, Presidential Villa, Abuja.
Many dignitaries including the Secretary to the Government of the Federation, Boss Mustapha, were in attendance.
In his address, Owasanoye said ICPC, through its projects tracking, found out that skyrocketing personnel in many MDAs was attributable to massive budgetary scam, including illegal recruitment, unilateral increase in wages, indiscriminate travels, among others.
“The high cost of governance and rising personnel budget in Nigeria is as a result of illegal recruitment, illegal and unilateral increase in wages and remuneration by some MDAs, indiscriminate local and international travels, unreasonable demands by some political appointee board members of MDAs without regard for extant circulars on cost management; procurement fraud, budget padding, etc,” he said.
“This has continued to reflect in the huge wage bill on personnel and operational cost standing at about 70 per cent of annual budget”.
According to Mr Owasanoye, the “malfeasance” the anti-graft agency uncovered in the recruitment process by some MDAs including the labour ministry is perpetrated with the connivance of some staff members of the Integrated Payroll and Personnel Information System (IPPIS). He noted the cases and officials involved were under investigation.
“At another level, a syndicate of corrupt individuals within the service corruptly employ unsuspecting Nigerians, issue them fake letters of employment, fraudulently enrolling them on IPPIS and post them to equally unsuspecting MDAs to commence work”.
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