News
Nigeria, A Non-Oil Country – Minister …FG Expands Tax Revenue Base
Coordinating Minister of the Economy, Ngozi Okonjo-Iweala said Nigerians view the country as a non- oil producing nation, and declared that efforts are on to explore other sources of revenue. The minister said in a radio programme, Political platform, on Ray Power FM yesterday, said oil accounts for only 14 percent of the country’s natural resources.
She also said that the Federal Government hinted that Nigeria has the capacity to generate over N10 billion in revenue from liquefied petroleum gas (LPG) by 2018 if half of Nigerians using kerosene for their domestic needs switch over to gas.
The Minister of National Planning, Abubakar Sulieman, who made this known yesterday in Abuja at the inauguration of the inter-ministerial committee on Kerosene to gas initiative in Nigeria: The Indonesian Model, said “If 50% of the current kerosene users in Nigeria switch over to Liquefied Petroleum Gas (LPG), Nigeria will generate about US$10.38b by 2018.”
Addressing newsmen moments after laying the 2015 budget proposals before the House of Representatives yesterday, the minister said the country was working to also broaden the tax base, even as revenue leakages were being blocked.
She explained that the Subsidy Reinvestment and Empowerment Programme (SURE-P) budget for next year is about N102 billion, adding that “SURE-P was facilitating an excellent job of making sure that critical infrastructure is finished and the country’s social safety net is kept to protect the vulnerable.
She explained that the 2015 budget was based on a few key indicators on $65 per barrel benchmark, adding “we are going to stick to it for now despite the declining prices because we feel the average price next year [should be] around $65-70. The production level is 2.27 million barrels per day. We have revised the growth rate based on the new parameters of the country, down from 6.35 to 5.5 per cent next year. But that is still one of the fastest growth rates we are experiencing in the world today.”
The situation in the manufacturing sector which assumed ascendancy in the last six-weeks, has been traced, amongst other factors, to the continuous fall in oil prices in the international market, and the slide in the foreign exchange rate of the naira, when compared against the dollar and other hard currencies.
Fear is being expressed by stakeholders in the Organised Private Sector (OPS), some of whom said it is a matter of time before the unfolding development snowballs into a major economic crisis, if no urgent steps are taken to stem the tide.
Besides the falling oil prices on which the nation relies for over 85 per cent of its federally collectable revenue, the devaluation of the naira and the non-inclusion of raw material inputs in sourcing foreign exchange from the bi-weekly Royal Dutch Auction System (RDAS), according to a source in one key player in the OPS, have grave implications for those in manufacturing, who depend on essential inputs from overseas.
The official said what is playing out now is reminiscent of the events of 1986 when the naira was devalued by the then military government, which resulted in the steep rise in prices and caused collateral damage to manufacturers of consumer products, the effects of which the nation has not recovered from.
He said what is happening currently will lead to the lowering of the purchasing power of the local currency, increase in cost of inputs, pointing out that the resultant effect would be that goods emanating from Nigeria will command higher prices, as against imported ones. This, he added, “will sound a death knell to the indigenous manufacturers, or whatever is left of that sector .”
While acknowledging the fact that the unfolding scenario was unanticipated, the official, nevertheless called for a shock therapy, saying the response to the challenge, especially by manufacturers and other segments of the OPS, might result in production cuts and price adjustments, with its attendant consequences. He said one of the most painful unintended outcomes of the measures manufacturers might adopt to keep afloat, would be to lay off some of their workers.
“This will be at variance with government’s often trumpeted agenda, which is that of creating jobs,” he said.
News
NDLEA Arrests Four Notorious Female Drug Dealers In Four States
The National Drug Law Enforcement Agency (NDLEA) has arrested four notorious female drug dealers in Edo, Imo, Kano, and Gombe states.
The Director of Media and Advocacy, NDLEA, Mr Femi Babafemi, made this known in a statement in Abuja, yesterday.
Giving a breakdown, Babafemi said that in Edo, an intense sweep of notorious drug hotspots within Benin City by NDLEA operatives on June 2 led to the arrest of four key traffickers, including three females.
“At Uyosa, Benin City, two female suspects were nabbed with a cocktail of illicit substances, including 176 grams of skunk, 65g of Loud, and 5 grams of Methamphetamine.
“Along Agbor road in Benin City, another female suspect, 21-year-old Anita Abraham, was apprehended with 95 grams of Scottish Loud and 329 grams of regular Loud.
“At Upper Mission, Benin City, a male suspect was arrested with a diverse cache of psychotropic substances consisting of Loud, Colorado, Swinol, and Methamphetamine.
“A swift operation by operatives in Kano State on Thursday, June 4, led to the arrest of a 19-year-old suspect, Saifullahi Lawan at the Kafi area of Madobi, with 40 blocks of skunk weighing a total of 38 kilograms,” NDLEA said.
In a related development, Babafemi said, operatives in Gombe state intercepted a 28-year-old suspect on June 1 near Dantiti Plaza in the Tumfure area of Gombe.
“The suspect was caught with 15,000 capsules of tramadol,” he said.
He said the War Against Drug Abuse (WADA) social advocacy activities by NDLEA Commands and formations equally continued across the country in the past week.
Reacting to the string of successful operations, the NDLEA Chairman, retired, Brig.-Gen. Buba Marwa commended the officers, men and women of the Imo, Edo, Kano, and Gombe commands for their resilience and vigilance.
Marwa also praised their counterparts in all the commands across the country for pursuing a fair balance between their drug supply reduction and drug demand reduction efforts.
He re-emphasised that the agency remains fully committed to dismantling drug supply chains and would continue to target traffickers regardless of age, gender, or concealment methods.
News
Navy Intercepts Over 135,000 Litres Of Stolen AGO In Rivers
The Nigerian Navy says its operatives under Operation Delta Sentinel have intercepted over 135,000 litres of suspected illegally refined Automotive Gas Oil (AGO) during separate operations in Rivers State waterways.
Director of Information, Navy Captain Abiodun Folorunsho, said the operations were carried out by personnel of the Nigerian Navy Ship (NNS) Pathfinder around the Onne and Abonema axis.
He said the seizures were made during routine patrols aimed at curbing crude oil theft and illegal fuel transportation across creeks in the state.
In one of the operations, naval personnel intercepted a fibre boat at the entrance of Owogono Creek in Ogu-Bolo Local Government Area carrying drums and jerrycans filled with suspected stolen AGO.
According to him, the occupants abandoned the boat and fled into nearby creeks, while the vessel and about 63,000 litres of product were recovered.
In another operation around Abonema in Akuku-Toru Local Government Area, patrol teams intercepted a wooden boat conveying about 72,000 litres of suspected illegally refined AGO concealed in sacks.
The Navy said the products were being transported through waterways for onward distribution before the operation disrupted the movement.
Folorunsho said the recoveries highlight the continued exploitation of creek networks by criminal elements for illegal petroleum product transportation.
He added that all recovered items were handled in line with established procedures on anti-crude oil theft operations.
The Navy reaffirmed its commitment to intelligence-driven operations aimed at dismantling illegal oil networks and protecting Nigeria’s maritime economic assets.
News
PERM SEC Tasks PUBLIC SERVANTS TO EMBRACE ACCOUNTABILITY
The Permanent Secretary of Rivers State Ministry of Information and Communications, Dr Honour Sirawoo mni, has charged public servants to embrace accountability and prudent management of public resources, stressing that government funds must be utilised responsibly.
Dr. Sirawoo made the assertion during the 41st anniversary of The Rivers State Television (RSTV), in Elelenwo.
He noted that public service demands commitment and sacrifice, urging workers to justify the opportunities entrusted to them through diligengence and productivity.
“All I try to do is to see that we have value for every kobo that we spend and value for our time.
“Government has a social responsibility to provide opportunities, but when you have one, you must guard it through hard work and ensure your presence is justified,” he stated.
The Permanent Secretary further appealed to workers to see themselves as ambassadors of their respective institutions, adding that government remains committed to creating employment opportunities and improving public service delivery.
Also speaking, former Acting Managing Director of the Niger Delta Development Commission (NDDC), Dr (Mrs.) Christiana Atako, praised the station’s professionalism and consistency despite operational challenges.
“We have never been disappointed. In spite of all the challenges RSTV had at that time, they never failed us. They carried our stories very well,” she said.
Dr Atako encouraged staff members to continually improve themselves through training, education and professional development in order to remain competitive in the evolving media industry.
Earlier, Acting General Manager of RSTV, Ambassador Paul Damgbor, described the anniversary celebration as an opportunity to reflect on the station’s journey of over four decades and appreciate those who have contributed to its development.
Pastor Damgbor said that the station had recorded remarkable improvements in recent months through the acquisition of digital cameras, computers as well as upgrades in audio and visual production facilities.
“We have seen great change. We were able to get new brand digital cameras and improve on our audio. We have also provided new computers for key departments, including News, Programmes and the Library,” Damgbor remarked.
He also unveiled a commemorative magazine chronicling the history and achievements of the station, describing it as a valuable reference material for preserving RSTV’s heritage.
The Acting General Manager, however, expressed concern over the theft of critical equipment from the station’s transformer, a development he said had forced the organisation to rely heavily on generator power supply.
The Senior Pastor of Gateway International Church, Pastor George Izunma, who gave a short charge during the event, urged media practitioners to uphold the ethics of journalism and remain committed to accuracy in reporting.
“You are pressmen. You are okay to doubt, but verify,” he advised, stressing the importance of credibility and responsibility in the profession.
He equally highlighted the need to “ask the help of God, sow a seed of help, and step into something as if you have help” stressing the need to move by faith for growth.
Some participants at the event also raised concerns about employment opportunities while commending RSTV’s growth and contributions to public enlightenment in Rivers State.
A major highlight of the celebration was the presentation of an award to the Rivers State Ministry of Information and Communications in recognition of its diligence and service to the people of the state. Dr Honour Sirawoo also received a special award for his contributions to the growth and development of RSTV.
Awards were equally presented to outstanding members of staff of RSTV for exemplary performance and their dedication to duty.
The event also featured the unveiling and launch of the RSTV commemorative magazine as well as a tour of the station’s newly built cafeteria and other facilities.
The celebration marked another milestone in the station’s 41-year history and reaffirmed its commitment to excellence in public broadcasting.
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