Nation
2021: Economist Harps On Early Implementation Of Budget
An Economist, Dr Boniface Chizea, says the implementation of the 2021 Budget at the beginning of the year will positively impact the prospects of the economy in the year under review.
Chizea, who is the Chief Executive Oficer of BIC Consultancy Services, spoke to newsmen in Lagos last Friday.
“It is a good development that the budget has been approved ready for implementation from the first day of the year.
“This is a welcome and cheering news as this development is bound to positively impact the prospects of the economy in the year under review”, he said.
He recalled that Year 2020 was a year when the Nigerian economy witnessed its worst performance in recent memory due to a combination of deleterious factors.
He identified the factors to include the COVID-19 pandemic which set in toward the end of the first quarter of the year 2020 and the EndSARS protests that occurred in October 2020.
Other factors include the lackluster performance of the oil market and the mixed fortunes of the exchange rate of the Naira, among others.
Chizea urged government to efficiently and cleverly implement some of its programmes and policies in the new year, adding that there was the expectation that Nigeria would witness some growth in its economy.
According to him, there are a flurry of palliative programmes put in place upon the commencement of the pandemic, notably by the Federal Government’s Economic Sustainability Plan and the programme by the Central Bank of Nigeria.
He said: “What is certain is that the activation of the various programmes have been problematic.
“This is as intending beneficiaries encountered sundry difficulties as they attempted to take advantage of the programmes.
“An attempt must now be made to focus on the needed attention to make accessibility seamless.
“Attention must be focused on worsening incidences of insecurity to life and property to bring this terrifying phenomenon under control,” he added.
The economist, however, expressed the belief that the rate of inflation would maintain its upward trajectory in the new year as there were no redeeming features in the horizon.
He said that food inflation would be on the rise as farmers are kept away from their farms due to the fears of kidnappings undermining production as scarcity results.
He also expressed the belief that as the African Continental Free Trade Agreement came on stream early in the year, the authorities would make every efforts to optimise on the inherent opportunities.
Nation
HYPREP Marks 15 Years Of UNEP Report, Highlights Major Cleanup Milestones
The Hydrocarbon Pollution Remediation Project (HYPREP) has commemorated the 15th anniversary of the release of the United Nations Environment Programme (UNEP) Environmental Assessment Report on Ogoniland, reaffirming its commitment to restoring the environment and improving the livelihoods of affected communities.
In a statement signed by the Project Coordinator, Prof Nenibarini Zabbey, to commemorate the anniversary, HYPREP described the anniversary as a significant milestone in Nigeria’s environmental restoration efforts, noting that the project has made remarkable progress in implementing the recommendations of the landmark UNEP report released on August 4, 2011.
The UNEP report had revealed extensive oil pollution across Ogoniland, severe environmental degradation, and serious public health risks resulting from decades of petroleum operations. It also recommended an initial $1 billion fund to commence the cleanup of the affected communities.
According to HYPREP, the Federal Government formally launched the Ogoni clean-up in 2016, while the Project Coordination Office was established in 2017 to drive the implementation of UNEP’s recommendations.
Zabbey said the current administration has continued to prioritise the project under the Renewed Hope Agenda.
Providing an update on the cleanup, the Project Coordinator disclosed that 30 of the 65 contaminated sites identified by UNEP have been fully remediated, while work is ongoing at several medium- and high-risk locations. It also stated that more than 1.5 million mangrove seedlings have been planted as part of what it described as the world’s largest restoration of oil-degraded mangroves, with over 1,000 hectares of shoreline already rehabilitated.
Zabbey further revealed that 49 Ogoni communities have been connected to potable water schemes through multiple water projects and booster stations aimed at providing safe drinking water across the region.
In the health sector, he said the 100-bed Ogoni Specialist Hospital in Kpite and the 43-bed Cottage Hospital in Buan are nearing completion, adding that several existing health facilities have been upgraded with modern medical equipment, while five ambulances have been donated to improve emergency healthcare services. The Project Coordinator also disclosed that a three-year human health biomonitoring study is being conducted in collaboration with the World Health Organization’s International Agency for Research on Cancer (IARC).
On economic empowerment, Zabbey stated that the Project has created more than 8,000 direct jobs and trained thousands of Ogoni youths and women in various vocational and technical skills, including software development, cybersecurity, aviation, commercial diving, seafaring, mechatronics, and creative arts. The project also reported awarding scholarships to more than 1,000 students, providing grants to small businesses, and supporting persons living with special needs through skills acquisition programmes.
The statement further highlighted ongoing legacy projects, including the Ogoni Power Project and the Centre of Excellence for Environmental Restoration, which it said is about 96 per cent complete. HYPREP also welcomed the recent designation of the Ogoni Wetland as a Ramsar Site of International Importance and pledged to continue promoting biodiversity conservation and sustainable management of the ecosystem.
Marking the anniversary, Zabbey said the progress achieved over the past 15 years demonstrates the collective commitment of government, development partners, stakeholders, and local communities to restoring Ogoniland. He called for renewed collaboration to sustain the cleanup effort, promote environmental sustainability, and support the long-term development of the region. 3
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