Business
‘Land Use Act, Embarrassment To Nigeria’
Youths of the Niger
Delta region have called on the presidency and both arms of the National Assembly to expunge the Land Use Act from the constitution for fairness, equity and justice.
Niger Delta Youth Coalition (NDYC) made the call Friday, after an emergency executive council meeting of the group held in Port Harcourt.
The National Co-ordinator of NDYC, Prince Emmanuel Ogba, who addressed the press said the act is the major impendiment bedevelling the socio-economic development of oil-producing states of the nation.
“The Act is unjust, unfair, and was borne out of prejudice and I wonder why democrats have allowed such an act to remain particularly at this stage of the nation’s democracy”, he said.
Describing the act as an embarrassment, NDYC called on President Goodluck Jonathan, the Senate President, David Mark and Speaker of the House of Representatives, Aminu Tambunwal, to save Nigeria from the embarrassment by appropriately amending the Act, insisting it is the mother of wickedness and embarrassment to Nigeria.
“Land Use Act is modern day stealing of what belongs to the people and this present administration would be writing its name in gold if it expunges that act,” he insisted.
The group equally called for the passage of the Petroleum Industry Bill (PIB) to enable oil producing communities as well as oil-bearing communities enjoy their due benefits from the oil proceed.
The co-ordinator explained that a good PIB would address the much imbalances in the sector and would engender a new dawn not only for the oil producing states but the entire nation, as well as the oil companies.
Ogba noted the enthusiasm that ushered in the bill in the house amidst great expectations from Nigerians but remarked that the continued delay is suspicious.
Chris Oluoh
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.