President Muhammadu Buhari says Nigerians have got to get used to discipline and direction in economic management as the days of business as usual are numbered.
The president stated this in his address to the nation in Abuja on Monday to mark the beginning of 2018.
According to him, it is in view of this reality that in 2015 he appealed to people to go back to the land.
He announced that Nigeria would stop importation of rice from 2018, to encourage the production of local rice.
“I am highly gratified that agriculture has picked up, contributing to the government’s effort to re-structure the economy.
“Rice imports will stop this year. Local rice, fresher and more nutritious rice will be on our dishes from now on.
“By the same token, I am today appealing to enterprising Nigerians with ideas and unemployed graduates and other able-bodied and literate men and women with ideas, not to just sit and wait for employment from the government or the Organized Private Sector.
“Great nations are built by enterprising people who turn their hands to anything that circumstances dictate,’’ he said.
He noted that the All Progressives Congress-led Federal Government was slowly stabilising the economy.
The president further said that the diversification efforts embarked upon by the government had resulted in improved output, particularly in agriculture and solid minerals sectors.
He also maintained that the relative exchange rate stability had improved manufacturing sector performance.
On power, President Buhari noted that more Nigerians across the country were experiencing improved power supply to their homes and businesses.
He, however, observed that power had remained a concern to his administration because not many people enjoyed regular and reliable supply.
He stated that the Payment Assurance Guarantee Scheme, which started in January 2016, had enabled the Nigerian Bulk Electricity Trader to raise N701 billion to assure Generation Companies of at least 80 per cent payment for any power delivered to the national grid.
Consequently, he said generation had now reached 7,000 megawatts while on December 8, 2017, the country achieved 5,155 megawatts of power delivered to consumers, the highest level ever recorded.
According to the president, several moribund projects have been revived while repairs of Afam Power Station added 110MW in 2017 and another 240MW will be added this year through a private investment partnership.
“Katsina Power Project is now being tested and producing 10MW of power from wind for the first time in Nigeria. It should be fully operational this year.
“The Zungeru 700MW Hydroelectric Power Project, stalled by court cases is due for completion in 2019.
“The transmission and other requirements to operate the 30MW Gurara Phase 1 Hydroelectric Plant, the 40MW Kashimbilla Hydroelectric Plant and the 215 MW Kaduna Gas/LPG/Diesel Power Plant will also be completed this year.
“A landmark project, Mambilla Hydroelectric Power Project, is at last taking off. This project has been on the drawing Board for 40 years,’’ he said.
The president, however, revealed that the engineering, procurement and construction contract for the Mambilla 3,050 megawatts project had been agreed with a Chinese joint venture company with a financing commitment from the government of China.
He said 2023 was targeted as completion period for the project.
President Buhari also noted with delight that the Transmission Companies of Nigeria (TCN) and the Niger Delta Holding Company had added 1,950 MVA of 330 down to 132 KV transformer capacity of 10 transmission stations and 2,930 MVA of 132 down to 33 KV transformer capacity of 42 sub-stations.
He said the sub-stations included those at Ikot Ekpene, Aba, Alagbon, Ajah, Ejigbo, Funtua and Zaria.
MWUN Threatens To Down Tools Over Failed Quay Aprons
The Maritime Workers Union of Nigeria (MWUN) on Friday threatened to shutdown port operations over the dilapidated quay aprons at some of the nation’s seaports.
Speaking in Lagos during a joint press conference put together by the union and Nigeria Association of Road Transport Owners (NARTO), President General, MWUN, Comrade Adewale Adeyanju, reiterated that the lives of labour workers at the affected terminals was at risk, saying that “injury to one is tantamount to injury to all.”
Adeyanju lamented that the union cannot allow the situation consume some dockworkers before protesting against the trend, noting that as a responsible and proactive group, there was the need to down tools for government to do the needful.
Our correspondent gathered that two port terminal, at Tin Can Island Port Complex, Lagos, and another at Port Harcourt, Rivers Port Quay wells have been in dilapidated condition for over five years without any sign of repair works from the Federal Government of Nigeria.
Recall that Minister of Transportation, Mu’Azu Sambo, who also inspected the dilapidated portion of the Tin Can Island Port quay apron recently, asked Mohammed Bello-Koko, Managing Director of Nigerian Ports Authority (NPA) and the engineers to forward the ‘as-built’ plan of the jetty, alongside other documents to his office for immediate action.
While reacting to questions from the journalists, Adeyanju said the union will also engage management of the NPA in furtherance to address the menacing failed infrastructure of the terminals.
On the recently inked Memorandum of Understanding (MOU) with the NARTO, the President General noted that the collaboration has been in existence for a long while with the aims to cater for drivers’ welfare and support projects of the NPA in port terminals operations.
He also warned members of the dockworkers branch to cooperate and embrace the agreement with the trucking association, noting that any attempt by the dockers to flout the MoU reached so far would result to sanctions from the national executive of MWUN.
He assured the leadership of NARTO, led by its National President, Alhaji Yusuf Othman, of the Union’s commitment towards ensuring that progress and success is achieved in the agreement.
According to him, the MoU is binding for members of the dockworkers branch, stressing that the Lagos ports was a test run with plans ahead to extend the agreement to other seaports, including, Warri, Calabar and Port Harcourt ports.
Earlier, President of NARTO, Alhaji Othman, lauded the MoU reached with MWUN, adding that success will be achieved in the merger. Othman said in line with port operations, the merger will bring about free flow of vehicular movement in and out of the ports calling on the parties involved to embrace sincerity and transparency for the benefit of the industry and Nigeria.
He said, “We wish to draw the attention of the general public to the decision for MWUN and NARTO to synergise and collaborate on a basis of common desire to ensure seamless environment to do business in the maritime sub sector of the nation’s economy”.
By: Nkpemenyie Mcdominic, Lagos
PenCom Approves Use Of Pensions For Mortgage
National Pension Commission (PenCom), has commenced approval for workers to use 25 per cent of their Retirement Savings Accounts for mortgage.
PenCom in a press statement released on Friday, titled ‘PenCom approves guidelines on accessing Retirement Savings Account balance for payment of equity contribution for residential mortgage by RSA holders’, noted that the approval was in line with the Pension Reform Act of 2014.
It stated in part, “PenCom is pleased to inform all stakeholders and the general public, particularly RSA holders, that the commission has approved the issuance and immediate implementation of the guidelines on accessing RSA balance towards payment of equity contribution for residential mortgage by RSA holders.
“The approval is in line with Section 89 (2) of the Pension Reform Act 2014, which allows RSA holders to use a portion of their RSA balance towards payment of equity for residential mortgage”.
According to the PenCom, the guidelines cover pension contributors in active employment, either as a salaried employee or as a self-employed person.
It added that the maximum amount to be withdrawn is 25 per cent of the total mandatory RSA balance as of the date of application, irrespective of the value of equity contribution required by the mortgage lender.
It further stated that where 25 per cent of a contributor’s RSA balance is not sufficient for payment as equity contribution, that RSA holders may utilize the contingency portion of their voluntary contributions (if any).
To qualify as a mortgage lender for the purpose, it stated, the company must be licensed by the Central Bank of Nigeria, comply with the Contributory Pension Scheme and have valid Pension Clearance Certificate.
“The RSA of the applicant shall have both employer and employee’s mandatory contributions for a cumulative minimum period of 60 months (five years).
“A contributor under the Micro Pension Plan is also eligible, provided he/she has made contributions for at least 60 months (five years) prior to the date of his/her application, and the RSA Holders that have less than three years to retirement are not eligible.
“Married couples, who are RSA holders, are eligible to make a joint application, subject to individually satisfying the eligibility requirements.
“RSA holders, if registered before 1 July 2019, must have their records updated through the RSA data recapture exercise.
“Application for equity contribution for residential mortgage shall be in person and not by proxy.” it stated.
By: Corlins Walter
Car Hires Operators, Bolt Driver Flex Muscles In PH Airport
There was pandemonium at the Port Harcourt International Airport Omagwa, Friday, as the Accredited Car Hires operators clashed with a Bolt taxi operator over passengers.
The scenario that played out got to the extent that everyone scampered for safety, as the Bolt driver went wild with his vehicle, and defied everything put in place to stop him, determined to crush anything, including humans, that stool on his way.
Problem started when the suspected Bolt driver was stopped by the Car Hires. After a heated argument, characterized by abuses, the bolt driver decided to enter his vehicle in anger, after he sensed that his car was in danger of being confiscated.
In the commotion that ensued, the car hires, as usual, used their iron piercing instruments to block the tyres of the vehicle to keep it within their custody, and the uproar attracted the attention of other airport users.
The Car hires and their allies at the airport had always insisted that no other taxi operator must carry passengers at the airport, since they do not pay any levy to the airport authority.
Consequently, they use every force necessary to stop other outside taxis from carrying passengers from the airport.
Friday’s incident took a new twist, as the Bolt driver over. Powered the forces used by the car hires, and went on a suicide mission, which made people to scamper for safety, including the car hires.
The driver went on a speed spree away from the airport. Even when the piercing instruments cut his tyre, he drove in such reckless manner capable of pulling down a building, thereby setting the entire environment on panic.
Some security agents present had to clear the way for the Bolt driver who drove out of the Airport with the iron piercing instrument obstructing his car, defiling all attempts to stop him.
By: Corlins Walter
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