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Gbajabiamila Assures PIB, Electoral Act Passage In Two Weeks …As Senate Debates PIB Report, ’Morrow

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Baring any change of plans, the long-awaited Petroleum Industry Bill (PIB) will be passed into law in two weeks’ time.
The Speaker of the House of Representatives, Hon Femi Gbajabiamila made the disclosure during the lower chamber’s plenary, yesterday.
He also reiterated the commitment of the House of Representatives to pass the Electoral Act Amendment Bill as well as the Supplementary Budget into law.
Gbajabiamila, who read a letter from President Muhammadu Buhari, seeking parliamentary approval of the 2021 Supplementary Appropriation Bill of N895.8billion, disclosed at plenary, yesterday.
He encouraged the House to work together within the time frame to ensure the passage of the three pieces of legislation.
He said, “I will be meeting with the Ad-Hoc Committee on PIB, today by 3 pm to tidy up some things. We need to pass these pieces of legislation before we go on the annual break. Two weeks is a very short time. We must do it all. These are landmark legislations, including the supplementary budget.”
Meanwhile, the Senate will, today, consider the 2021 Supplementary Budget of N895.8billion.
The President of the Senate, Dr Ahmad Lawan, said this in his remarks on a Point of Order raised by the Chairman, Senate Committee on Appropriations, Sen. Jibrin Barau, during plenary, yesterday.
Barau had raised Point of Order 43 of the Senate Standing Rules, seeking for more time to submit the report on “A Supplementary Bill for an Act to authorise the issue from the Consolidated Revenue Fund of the Federation the total sum of N895, 842, 465, 917.
“We were given the mandate to submit the report today (Tuesday).
“I want to inform this distinguished Senate that we have started work on the bill. We discovered that we needed more time because we feel we must meet the minimum standard set out by the rules of this Senate in processing the bill.’’
According to him, the time we expect we will be able to do this is this week, and then get our report submitted next Tuesday.
“I appeal to this distinguished Senate to permit us to submit our report on Tuesday next week.’’
President of the Senate while interjecting said, “chairman, you will not have more than today.
“This is a very straightforward Supplementary Budget request. So, it doesn’t need two weeks working on it. And you remember, we have a line-up of so many important bills to consider in this Senate.
“So, you have today. You lay tomorrow, we receive tomorrow, please. Because I am sure you had the entire weekend from Wednesday, almost six days. That should be enough. These are just two sectors.
“It is not a complicated thing. So, you don’t need up to Tuesday next week. So, you submit tomorrow (Wednesday) please,’’ Lawan said.
It would be recalled that a Supplementary Bill for an Act to authorise the issue from the Consolidated Revenue Fund of the Federation, the total sum of N895, 842, 465, 917 on June 23, scaled second reading in the Senate.
President Muhammadu Buhari had sent a request for supplementary budget to the upper chamber in a bid to help fight insecurity and purchase vaccines in tackling the Covid-19 pandemic.
Similarly, the Senate will, tomorrow, debate the report of its joint committees on Petroleum (Upstream, Downstream and Gas) on the Petroleum Industry Bill.
The Senate President, Dr Ahmad Lawan, disclosed this, yesterday, after the chairman of the panel, Senator Mohammed Sabo (Jigawa South West) submitted the committees’ report.
Lawan said, “We will be considering the report on Thursday. We have today, tomorrow and Thursday to look at the report so that when we consider the report, we will be doing so on the basis of what we have been able to read from this very important report.”
The Senate President urged the Joint Committee to provide lawmakers with copies of the bill ahead of its consideration to enable them study its content.
“Let me use the opportunity to thank our Joint Committee for working so hard, selflessly and patriotically to produce the report on the Petroleum Industry Bill.
“This report, a copy each, must be made available to each and every senator today, this afternoon.
“I don’t know how the committee would arrange it, but every senator must have a copy today.
“And we would be considering the report on Thursday.
“So, we have today, tomorrow until the beginning of Thursday to look at the report so that when we consider it, we will be doing so on the basis of what we have been able to read from this very important report,” Lawan said.
The bill seeks to establish a framework for the creation of commercially-oriented and profit-driven petroleum entities, to ensure value addition and internationalisation of the petroleum industry, through the creation of efficient and effective governing institutions with clear and separate roles for the petroleum industry.
The bill is the first in a series of long awaited petroleum industry laws designed to reform the Nigerian oil and gas industry.
The PIB, an omnibus law meant to regulate the entire sphere of the industry and repeal all current existing oil and gas legislation, had struggled to see the light of day ins spite of its introduction to the National Assembly over 16 years ago.
Subsequently, the National Assembly decided to break the PIB into a number of different pieces of legislation guiding specific aspects of the industry.
Senate also at plenary considered for first reading, five bills.
The bills are, Recovery of Premises Act 1995 repeal and re-enactment Bill 2021, sponsored by Sen.Odey Stephen (PDP Cross -River); Federal University of Technology Akwa Ibom Establishment Bill, 2021 by Sen. Akpan Bassey (PDP Akwa Ibom); Federal University of Technology Jigawa Establishment Bill, 2021 by Sen.Mohammed Sabo (APC-Jigawa).
Others are, Mortage Institutions and Allied Matters Act Amendment Bill, 2021 by Sen.Ibikunle Amosu (APC-Ogun); and National Research and Innovation Council Establishment Bill, 2021 by Sen.Ibezim Chukwuma (APC-Imo).

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We’re Genuinely Opening Up Kalabari Land For Development, Says Fubara

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Rivers State Governor, Sir Siminalayi Fubara, has explained that his administration is courageously executing strategic projects that are opening up Kalabari land for unprecedented development and economic growth.

 

Governor Fubara made the explanation when he received on solidarity visit, a delegation of monarchs, political leaders, elders, women and youths of Kalabari Ethnic Nationality, led by the Amanyanabo of Abonnema, King Disreal Gbobo Bobmanuel, at Banquet Hall of Government House in Port Harcourt, last Tuesday.

 

The Governor stated that while previous administrations avoided executing the original plan for the Trans-Kalabari Road project due to cost implications, he has ventured into it, and driving the process steadily in order to link Kalabari land to the State capital.

 

Governor said: “Somebody said, if I don’t do it for my people, who will do it for them. We ventured into the Trans-Kalabari Road, we didn’t close our eyes. Our eyes were open because we knew what we were entering into.

 

“It is not a joke; it is a big project. We believe that at the end of that project, the level of development that it will attract to that line of entry into Kalabari will be very unprecedented.

 

“Issues of insecurity from our waterways will be reduced because, at that point we are doing road, people won’t be using the river anymore. The cost of living will also be cheaper.”

 

Governor Fubara further asserted: “So, you understand that your interest, your safety, your development is key to us. It is not about the number of years that we are going to be here; what is important to this government is the impact we make while we are here.”

 

Responding to their unanimous endorsement to see him run for a second term in office, Governor Fubara said power belongs to God, and He gives it to whoever finds favour in His sight.

 

Governor Fubara, however, stated that if God so approved of it, even those who are regrouping against him will not see the path God will lead him because they cannot scuttle such plan.

 

He added, “Power belongs to God. So, you see, I like believing that we don’t have any problem. When we get to the bridge, we will cross it. If we can break the bridge, Moses will come and create a road for us. So, you don’t need to worry.

 

“We will cross the bridge. We will cross it in a way that our enemies will be struggling; they won’t see where we are passing. So, don’t worry.”

 

Governor Fubara acknowledged the immense support to him by Rivers Ijaw, and urged particularly the Kalabari people to stand with honour in their unalloyed support for his administration, which will neither abandon them nor fail to deliver quality projects to the people.

 

Governor Fubara also responded to their requests and informed them that his administration has completed the Emohua/Tema Junction Road project, and ready to inaugurate the Degema Zonal Hospital in May.

 

He said the Health Commissioner has been directed to assess the state of the Abonnema General Hospital for immediate rehabilitation, while promising to address the issues of shore protection in the area.

 

Governor Fubara assured that with the Abonnema sandfilling works completed, the phase two will commence that will include Buguma, explaining that the Commissioner for Works has been tasked to do the assessment immediately.

 

On the request for the establishment of tertiary institution in the area, Governor Fubara said his administration is already inaudated with memos asking that the off-campus of Rivers State University established previously be revised because it has become difficult to sustain them, but quickly added that the government will consider the establishment of a viable institution that will provide technical and entrepreneurial skills to the people in a sustained manner.

 

Reading the address of Kalabari Ethnic Nationality, Chief Pawariso Samuel Horsfall, announced that the entire Kalabari people have unanimously endorsed Governor Fubara for a second term, and vowed to mobilise Rivers people to ensure electoral victory for him in the 2027 gubernatorial election.

 

In his speech, the leader of the delegation and Amanyanabo of Abonnema, King Disreal Gbobo Bobmanuel, expressed the profound thanks of the Kalabari people to Governor Fubara for his genuine love for them, as evidenced in the types and quality of development projects delivered or being executed in the area.

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Senate Passes N54.9trn 2025 Appropriation Bill

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The National Assembly, yesterday,  passed the N54.9 trillion 2025 Appropriation Bill.

The Tide source reports that this followed the adoption of the report of the Committee on Appropriations on the bill.

The report was presented by Chairman of the Committee, Sen. Solomon Adeola (APC-Ogun).

The Tide source reports that highlights of the passed 2025 appropriation bill indicates an aggregate expenditure of N54.9 trillion, statutory transfers of N3.6 trillion, with recurrent expenditure put at N13.6 trillion.

While the sum of N23.9 trillion was earmarked for capital expenditure, debt servicing was put at N14.3 trillion, fiscal deficit N13.8 trillion, while 1.52 per cent was approved as deficit and GDP.

Olamilekan, while presenting the report, said that the senate debated the general principles of the bill on Dec. 19, 2024.

This, he said, had resulted in the second reading of the bill after which it was referred to his committee for further legislative action.

The senator said that the initial proposal of the executive was N49.7 trillion.

He, however, said while processing the bill, the joint committee on appropriations met the president’s economic team to discuss the revenue projection and expenditure of the appropriation bill.

“After series of meetings, the Committee on Finance, in conjunction with our committee, sourced for additional revenue from some revenue-generating agencies,” he said.

Adeola said that the additional fund was made possible because of the increase in revenue by some of the revenue-generating agencies.

He further stated that some agencies of government provided funds to take care of critical needs.

The lawmaker said that the upward review of the budget from N49.7 trillion to N54.9 trillion was to cater for the difference between the details and the bill, procurement of vaccines and additional funding to some government agencies.

“The joint committee worked harmoniously with the leadership of the National Assembly and the executive arm of government in the processing of the bill.

“This ensured maximum collaboration of the two arms in the utilisation of additional revenue projection.

”This is to improve the funding of some critical projects which could not be adequately funded in the budget proposal earlier submitted by Mr President due to funding constraints,” he said.

Adeola said that the 2025 appropriation bill was presented late as against the 2024 appropriation bill.

He urged the executive to present the budget to national assembly not later than three months before the beginning of the next financial year.

“This will help return the country to the January-December budget circle,” he said.

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CBN Retains N100 ATM Fee For Withdrawal Below N20,000

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The Central Bank of Nigeria (CBN) has announced that Nigerians withdrawing less than N20,000 from another bank’s Automated Teller Machine will still be charged a fee of N100 per transaction.

This is according to a FAQ document published by the apex bank on its website, yesterday, which provides further information on a new CBN’s directive.

The directive is part of the newly revised ATM transaction fees set to take effect from March 1, 2025, as contained in the CBN circular dated February 10, 2025.

Under the revised fee structure, withdrawals from one’s bank ATMs will remain free of charge.

However, customers using ATMs of other banks will be subjected to a charge of N100 per withdrawal of N20,000 or less at on-site ATMs, which are located within or directly affiliated with a bank branch.

Off-site ATMs, which are positioned outside bank premises such as shopping malls, fuel stations, and other public spaces, will attract an additional surcharge of up to N500 per transaction.

For international ATM withdrawals, charges will be based on cost recovery, meaning customers will bear the exact fee applied by the international acquirer.

The CBN stated that the charge on withdrawals below N20,000 is intended to prevent customers from splitting withdrawals into smaller amounts to avoid fees.

The FAQ document read, “Yes, the fee of N100 will apply if you withdraw less than N20,000 from another bank (a bank other than the one that issued your payment card).

“The reason for applying the fee for every N20,000 withdrawal is to prevent customers from being compelled to break their withdrawals to less than N20,000 per withdrawal.

“In other words, ATM transactions will incur a base fee of N100 per transaction. It is also important to note that a tiered fee structure will apply for transactions exceeding N20,000, with an additional N100 charged for each subsequent withdrawal of N20,000 or portion thereof.”

Customers withdrawing more than N20,000 from another bank’s ATM will be charged an additional N100 for every subsequent N20,000 or portion thereof.

Another significant change in the revised structure is the removal of the three free monthly withdrawals previously allowed for customers using other banks’ ATMs.

From March 1, 2025, all withdrawals at another bank’s ATM will attract charges, potentially increasing costs for customers who frequently use ATMs outside their primary bank.

The apex bank has clarified that financial institutions are not permitted to charge more than the prescribed fees, although banks may reduce charges depending on their business strategy.

Any bank found in violation of the directive, including compelling customers to withdraw less than N20,000 per transaction despite sufficient funds in their account, will be sanctioned accordingly.

Customers who experience such restrictions are encouraged to report complaints to the CBN Consumer Protection Department via cpd@cbn.gov.ng.

To minimise transaction fees, the CBN has advised customers to prioritise withdrawals from their bank’s own ATMs.

It also encouraged Nigerians to explore alternative payment methods such as mobile banking applications, POS transactions, and electronic transfers to reduce reliance on cash withdrawals.

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