Nation
We’ve Powers To Deduct Running Cost From Source, NNPC Tells Reps
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has said that the monetary deductions made from the 2015 operations of the corporation had legal backing.
Kyari gave the explanation while responding to the audit query from the office of the Auditor General of the Federation over dwindling government revenue from 2014 till 2020 at the Public Accounts Committee, PAC of the House of Representatives, yesterday.
The committee had invited the GMD to defend deductions from source of the sum of N865billion from N2.4trillion generated by the corporation in 2015.
The NNPC was to also explain the non-remittance of N3.8trillion of domestic crude oil sales; the non-collection of gas receipts for some months in the year; and the issue of refund of N450billion, among others.
It will be recalled that Auditor General had in the query said the act violated Section 162 of the Constitution which provides that all revenue proceeds should be paid to the Federation Account.
Meeting with the committee, Kyari said that NNPC act, a certain judgement of the Supreme Court judgement and approval of the Attorney-General of the Federation empowered them to make deductions of their running cost from source.
“What we do is backed by the provisions of the law. First, the NNPC Act is very clear that we should submit revenues net of our cost.
“There is also an informed decision of the Supreme Court and also the Attorney General of the Federation, that that position is correct and supported by the provisions of the law,” Kyari said.
In his remarks, the Committee Chairman, Hon. Oluwole Oke, said that NNPC as an agency of government was accountable to the people and ought to make remittances to the federation account.
Reserving ruling on the matter, Oke said the Committee will constitute a subcommittee to enable them re-examine the legal provisions to ascertain the tenacity of Kyari’s submission.
“Let us compare the provisions of the NNPC Act with Section 88, 81 of the constitution. We need to read the provisions of the NNPC Act along with section 80, 81 of the constitution of the Federal Republic of Nigeria to be able to decide which is superior, and which we are to follow.
“We would set up a sub-committee of legal minded members to read through the judgment of the Supreme Court on this matter vis-a-vis the letter from the letter of the Attorney General. We need to make an informed position of the matter.
“If the Supreme Court has taken a position, we need to be mindful of such. If we are in disagreement, the best option we have is to go into legislation, because it means the court has clearly interpreted the provisions of the law. Sources of law are judicial precedents.
“That is the way we can come up with an enactment, amendment, or repeal. So, I want to suggest that we reserve ruling on the query bordering on deductions at source. Let us study the provisions of the Constitution and the Act setting up NNPC along with the submission of the Attorney General and the Supreme Court judgment and we come back and make a ruling,” Oke said.
Nation
Rivers Deputy Governor Hails PH City One Love For Humanitarian Gesture
Rivers state Deputy Governor Professor Ngozi Nma Odu has commended “The Port Harcourt City One Love,”a Port Harcourt based humanitarian orgnisation For it’s commitment towards alleviating the sufferings of the poor and vulnerable in the society.
Professor Ngozi Nma Odu said this while speaking at this year’s edition of “operation feed the needy” a yearly outreach program of “The Port Harcourt City One Love ” in Port Harcourt.
The Deputy Governor said by feeding more than sixty thousands hungry people within the past six years, the Port Harcourt City One Love Movement has distinguished itself as a club that cares for the less privilege in the society.
She commended the , organization for listing eleven thousand persons to be fed in the current exercise.
Meanwhile The Port Harcourt City One Love has planned a permanent solution to the problem of feeding the poor in the state.
The leader of the group Mr Idaere Gogo Ogan who said this in an interview with newsmen during the distribution of food items to the poor and vulnerables in Port Harcourt said the organization is planning a permanent food kitchen where poor and vulnerable persons can work in anytime and get fed.
Idaere Gogo Ogan said more than sixty thousands poor and vulnerable persons across Port Harcourt City and environs have been fed since the inception of “The operation feed the needy” program six years ago,adding that so far sixty thousands poor and vulnerable persons have beneffited.
He described the group as a platform to promote friendship, brotherhood, community development empathy and feeding the less privilege and hungry people
“That’s what we are doing today here,so we started the exercise six years ago”.he said.
Ogan said the effort was a private sector driven initiative but added “it also involves people in Government because the platform does not recognize any division,we bring everybody together in unity , friendship and brotherhood”he said.
He said the effort will go along way in alleviating hunger especially following the prevailing hunger in the country.
According to him “you know the country is very tough, people are hungry people are starving, there is a whole lot of economic hardship,so for us, this is just our own way of reaching out, our own social contribution to what is very difficult”he said.
Over eleven thousand persons were fed in the just concluded exercise.
Areas of coverage include, Isaac Boro park, Port Harcourt prison/Macoba, Borokiri/Enugu waterside Bundu areas Waterlines and others.
Some of the beneficiaries including an 80 years old widow commended the movement for the annual programm and urged other organizations to emulate them
John Bibor,/Esuuk Oyet/Suotor Memoye /Jeremiah Hannah
Nation
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Nation
SheVentures Open Zero-interest Loan Applications for Women Entrepreneurs
“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively. Women-led enterprises are critical to economic activity, yet they face structural barriers.
“This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs”, Edun said.
Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB), Nnenna Jacob-Ogogo said access to affordable finance remains a major constraint for women entrepreneurs.
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