Business

OBALGA Proposes N6bn Budget For 2012

Published

12 years ago

February 21, 2012

The Executive Chairman of Obio/Akpor Local government council of Rivers State, Prince Timothy Nsirim, has presented an Appropriation Bill of N6,079,999,901.47 to the local government’s Legislative Assembly for the year 2012, assuring that his administration is poised to fast-track infrastructural and human development in the local government.

Nsirim, who presented the Appropriation Bill tagged, ‘Budget of Hope’ to the Assembly yesterday said capital expenditure would gulp N3,251,416,912.47 while he put the recurrent expenditure at N2,828,582,989.000.

He explained that the capital expenditure for this year was higher than the recurrent expenditure because the local government would embark on the completion of the first phase of its ultra-modern international market and other capital projects embarked upon by the council to create employment and improve the welfare of the people.

The council boss equally noted that the recurrent expenditure was lower than last year’s because the council intended to cut down its expenditure for the year.

According to him, the council would source its revenue for the year from Internally Generated Revenue, N968,710,000, Statutory Federal Allocation, 2,184,176,114.93, Value Added Tax (VAT), N629,255,988.32, Excess Crude, N1,000,000,000.00, Statutory Allocation from the state, N500,000,000 and budget augmentation, 797,857,798.22.

A breakdown of the recurrent expenditure shows that personnel cost will take N1,027,980,298, overhead cost N1,569,541,341,348.00, transfer to reserve N60,799,999.00 and contribution to local government fund N281,000,000.

Nsirim further noted that this year’s federal allocation estimate of N2,184,176,114.93 was higher than last year’s estimate because of the anticipated improvement in the Federation Allocations, adding that the council had always had zero allocation from statutory allocation from the state because of non-remittance but had made a provision of N500,000,000 for this year’s budget.

On Internally Generated Revenue for this year, the council chairman said attempts made by the council to meet the annual estimates had often failed because of the subversive attitude of companies, business operators and individuals doing business in the local government, assuring, however, that the council had put measures in place to check the activities of revenue touts in the area.

Analysing the budget further, he said the economic sector which he described as the most important sector including transportation, roads and bridges, commerce, finance, electricity, manufacturing and agriculture would gulp N3,037,000,0000 of the total capital expenditure.

To lay a solid foundation for human capital development in the local government, Nsirim said his administration would also give priority attention to the social sector which he allocated N598,000,000, saying, no society or institution develops without giving emphasis to human capital.

While scoring the performance of last year’s budget above 50 percent, Nsirim explained that N130,000,000 had been provided in the budget for the repayment of loans and interests to free the local government from indebtedness.

Responding, the Leader of the Legislative Assembly, Hon. Henry Odum thanked the chairman for the presentation of the budget, assuring that the assembly would ensure speedy passage of the bill into a bye-law.

He lauded the harmonious working relationship existing between the executive and legislative arms in the local government, attributing it to the spirit of understanding often exhibited by the council chairmen.

Donatus Ebi

Business

Fuel Scarcity: IPMAN threatens shutdown over bridging claims

Published

3 hours ago

May 3, 2024

The Tide

The Independent Petroleum Marketers Association of Nigeria (IPMAN) Depot Chairmen Forum, has exonerated its members from the current fuel scarcity in the country.

According to IPMAN, this is caused by its inability to source petroleum products.

The IPMAN Depot Chairmen Forum also threatened to withdraw its services over non-payment of N200 billion bridging claims by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to its members, since 2022.

Alhaji Yahaya Alhassan, the Chairman, of the Forum said this while briefing newsmen in Abuja, yesterday.

Alhassan said the Nigerian National Petroleum Company Limited (NNPC Ltd.) was the sole importer of the product, but the marketers could not source products from NNPC Ltd. deport, rather from the private depots at high rate.

“We cannot buy fuel from the private depots at N950 and transport the product from Lagos to the North and other parts of the country with N2 million and still sell it at N900 or N1, 000.

“It is expedient for us to state that we are more pained by the non-availability of petroleum products in the country, which has given rise to another round of untold hardship for Nigerians.

“Contrary to claims that IPMAN members are hoarding Premium Motor Spirit (PMS) known as fuel, we would like to categorically state that PMS scarcity is wholly triggered by inability to get fuel from NNPC and not IPMAN,’’ he said.

Meanwhile, the NNPC Ltd. Chief Corporate Communications Officer, Olufemi Soneye said the disruption was due to logistical issues which had since been resolved.

“We currently have an availability of products exceeding 1.5 billion litres, which can last for at least 30 days. Unfortunately, we experienced a three-day disruption in distribution due to logistical issues, which has since been resolved.

“However, as you know, overcoming such disruptions typically requires double the amount of time to return to normal operations.

“Some folks are taking advantage of this situation to maximise profits. Thankfully, product scarcity has been minimal lately, but these folks might be exploiting the situation for unwarranted gain,’’ Soneye said.

He however, said the lines would clear out soon.

On the non-payment of bridging claims, the IPMAN forum said it was distressed and depressed by the laidback attitude of the NMDPRA towards the survival its member’s businesses, arising from its refusal in paying the claims.

“It is with deep frustration that we have assembled here today as the IPMAN Depot Chairmen Forum. It is also disheartening to note that some of our members have completely shut down businesses and retrenched employees.

“As businessmen and women, our members acquired bank loans to keep their fuel retail outlets running on a daily basis across the nooks and crannies of Nigeria in order to serve the teeming population of Nigerians,’’ Alhassan said.

He recalled that Sen. Heineken Lokpobiri, Minister of State Petroleum Resources (Oil), at a stakeholders meeting in February mandated the NMDPRA management to clear the entire debt in 40 days.

“However, today, we have crossed the 40 days’ time lapse given to the NMDPRA to clear the debt, and it is shameful to state that only the paltry sum of N13 billion has been paid, ignoring minister’s directive.

“We are not happy with the indiscriminate increment in the issuance and renewal of Sales and Storage Licence, by the NMDPRA, and the subsequent delays in acquiring the licence, which our members are recently subjected to.

“We are also calling on President Bola Tinubu to look into this unwholesome figure which is highly detrimental to our business and reverse it forthwith, as it is bound to impact negatively on the masses.

“We are poised to take far reaching decisions that may cripple the supply and sales of petroleum products across Nigeria if our demands are not met within the shortest period of time.

“We are collectively prepared to withdraw our services, shut down every single outlet, and suspend lifting of products forthwith till our demands are fully met, and the consequences will be terrible.

“We call on our members to however remain resolute and law abiding, even as we draw close to the immediate ultimatum for our demands to be met by the NMDPRA,’’ the chairman said.

Reacting to the IPMAN’s claims, the Acting Head, Corporate Communications, NMDPRA, Seiyefa Osanebi said the bridging claims payment was ongoing.

“The bridging claims payment is always an ongoing process,” she said.

Maritime

Shippers’ Council Registers 160 Port Operators

Published

4 days ago

April 29, 2024

The Tide

The Nigerian Shippers Council (NSC) says it has registered 160 Port stakeholders into its Regulated Port Service Provider and Users platform since the initiative began in 2023.
Executive Secretary, NSC, Mr Pius Akutah, made the disclosure on the sideline of a sensitisation programme by the commission for port operators in Lagos, with the theme, “Regulated Port Service Provider and Users”.
Represented by the Director, Consumer Affairs, Chief Cajetan Agu, Akutah emphasised the significance of the programme for stakeholders.
He said the sensitisation programme was the second edition after its commencement during the last quarter of 2023.
The Secretary said the 160 registered port operators consist of agencies, terminal operators, shipping companies, individual port users as well as service providers.
“We invited the ports stakeholders for enlightening them on the processes for online registration of Regulated Port Service Provider and Users.
“We have demonstrated to them how to register and how to make payment and we were able to present before them the various categories of the registration.
“The rate of payment is also in the registration. The payment of each group depends on the operation. A shipper pays N30,000, terminal operators and shipping companies pay N300,000, truckers also pay N30,000, while some pay N50,000 and N100,000.
“The Council was able to intimate them on the benefits, because port users benefit more as we help to interface on reducing port charges from time to time”, Akutah said.
He said that there was a need to continue to work with port operators to stop delays and eliminate high costs to make the port efficient.
Also speaking, the Deputy Director, Stakeholders, Service, NSC, Mr Celestine Akujobi, said “the sensitisation exercise was important for the council to enable us bring all the port stakeholders together”.
According to him, this is to avoid challenges during the implementation of the council’s responsibilities.
“By the time we introduce sanctions on defaulters, no operators will complain that he or she is not aware of the registration.
“I’m happy with the turnout of this sensitisation. This shows that the operators are well informed of the statutory friction of the council as the port regulator.
“The final implementation will commence as soon as we discover that all the operators have keyed into the portal.
“We are engaging other ports across the country and we’re hopeful that before the last quater of 2024, the council will implement sanctions on defaulting operators”, Akujobi said.
Earlier, Vice Chairman, National Association of Government Approved Freight Forwards (NAGAFF), Dr Ifeanyi Emoh, said port challenges were enormous, adding that they originated from some of the government agencies.

Emoh urged the council to look into regulating other government agencies, so that there could be a window through which they can collect port charges collectively instead of indiscriminately.

By: Chinedu Wosu