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Niger Delta

FG Records Over N1trn Monthly Revenue From Subsidy Removal

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The Minister of Finance, Mr Wale Edun, has said the Federation Account is witnessing improved revenue inflow since the removal of subsidy from average of N650 million monthly to over N1 trillion in the last four months.
The Minister stated this on Monday in Asaba at the opening ceremony of a four-day retreat organised for members of the Federation Account Allocation Committee (FAAC) .
Represented by the Permanent Secretary, Finance, Special Duties, Mr Okokon Udo, the Minister said the government had for long, realised that petroleum subsidy was not sustainable.
According to him, subsidy regime eroded revenues that should had been available to fund viable expenditures that were critical to the well-being of the populace.
He said the present administration was mindful of the needs and welfare of Nigerians and assured that it would continue to implement peoples oriented policies..
“We all know that achieving tax revenue to Gross Domestic Product (GDP) target of 22 per cent and tax to GDP of 18 per cent by 2026 are parts of the cardinal objectives of this administration.
“However, in doing that we appreciate the needs not to overburden the tax payers by introducing so many new taxes.
“What is necessary to be done is to broaden the tax base, simplify and streamline tax administration for ease of collection”, he said.
Edun added that, “Among the prior activities of this government after coming into office, was the constitution of a Presidential Committee of Fiscal Policy and Tax Reforns.
“The committee has submitted an interim report which is full of optimism’’.
The Minister also noted that the present administration was not oblivious of the untold hardship faced by Nigerians, following the removal of fuel subsidy, and harmonisation of exchange rates.
He reassured that all the sacrifices made by people would never be in vain.
“Government is bent on ensuring that the economy bounces back to normal as we continue to consolidate on recovery efforts with focusing on achieving inclusive economic growth and development”, he stated.
According to him, President Bola Tinubu-led administration has so far put in place a well-structured palliative measures to cushion the economic consequences of the ongoing reforms.
On the theme of theme of the Retreat, “Creating a Resilient Economic through Diversification of the Nation’s Revenue”, the minister commended the choice, stressing that it was suitabl.
Edun also noted that retreat clearly outlined the urgent need to diversify the nation’s economy.
In an opening remark, Governor Sheriff Oborevwori of Delta tasked the Federal Government to muster the political will by putting necessary policy and institutional framework in place to diversify the nation’s economy.
The Governor, represented by his Deputy, Sir Monday Onyeme said that there was no magic wand to diversify the nation’s economy from over dependence on revenue from crude oil unless concerted efforts were made in other key sectors.
He noted that the diversification of the nation’s economy must go beyond mere rhetoric to concrete measurable steps by facilitating the non-oil exports such as agricultural products, manufactured goods and services as well as the expansion of the revenue base.
Oborevwori affirmed that Delta was taking the lead to diversify its economy by creating a Trade and Export unit to drive the process in order to make economic diversification a reality.
He noted that some schools of thought believed that the discovery of crude oil which led to the neglect of agriculture and other revenue yielding non-oil sectors of the economy was a curse.
Oborevwori said the country had not properly managed its oil wealth adding that it was worrisome that the oil sector contributed between five per cent and seven per cent of the nation’s GDP.
He added that the non-oil sector mostly agriculture, agribusiness, manufacturing and small scale enterprises contributed 93 per cent to 95 per cent, yet the bulk of public revenue was from the oil and gas sector.
“Statistics have made it more exigent for the government to grow the non-oil sector to widen the revenue base, nwhile ensuring that maximum benefits were derived from the e oil industry”, he said.
The Governor commended FAAC committee for its commitment to duty by enhancing revenue accruals into the federation account.
He urged the committee to look into the payment of 13 per cent derivation to oil producing states.
Oborevwori challenged the committee to use the retreat to address the concerns raised by stakeholders in respect of the new roles of the Nigeria National Petroleum Company Limited, among others by giving better understanding on their roles in the economic diversification of the country.
The Tide’s source, reports that Accountant Generals from the thirty six states and the FCT as well as other stakeholders such as the Customs are attending the retreat.

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Niger Delta

Publisher Hails Diri On Security, Peace

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The Publisher and Editor-In-Chief of a Yenagoa-based tabloid, Niger Delta Herald, Mr. Francis Dufugha, has commended the Bayelsa State Governor, Senator Douye Diri, for the relative peace in the State.
Dufugha, however, expressed resentment over what he described as stringent measures against assessing the State’s Students Loan Scheme, especially for the common citizens.
He made the observations while briefing journalists at the Earliest Ikoli Press Centre, Ekeki, in Yenagoa, the State capital.
“I commend the Governor for the relative peace in the state owing to his approach to the security of lives and properties in the State.
“For now, the police in Bayelsa State is using drones to monitor red flag areas that can cause security breaches and that has really encouraged the peace in the State.
“The security situation has improved and we commend the government for that. We cannot deny the fact that there is relative peace in the State”, he said.
On the State’s students loan, the publisher accused the scheme of having elitist posture due to its accessibility process.
He argued that it would be difficult for the ordinary Bayelsan to provide a Level-17 civil servant as guarantor to be able to benefit from the scheme, describing it as a systemic denial of the less privileged.
He noted that the loan was supposed to be a succour to indigent Bayelsa parents and students who could not assess education easily, noting that such persons should not be made to face cumbersome situations before assessing the financial instrument.
On road infrastructure, the Niger Delta Herald Publisher and Editor-in-chief praised the Diri’s administration on the work done on the three senatorial district roads and tasked the government to do more.
Dufugha, who described Bayelsa State as a wealthy State, asserted that the oil rich state needed to see more developmental strides comparative to its current financial status.
“Bayelsa is not a poor state in terms of public revenue. We’re an oil producing state. We receive federal allocations. We receive derivation revenue. We have access to enormous public resources.
“We receive interventions. Yet, after all these years, the ordinary citizen is still asking, what exactly are we getting for our money? Where are the industries? Where are the jobs? Where are the functional health institutions? Where is the agricultural transformation? Where is the human capital development? Where is the economic diversification?,” he argued.
He enjoined the government to redouble effort in the education and health subsectors, adding that it would pay the state a lot if there were centres for the treatment of critical health cases such as cancer and others in order to save lives and avoid capital flight.
The Publisher urged the Senator Diri-led government and the public not to misunderstand his message as hatred or personal issues with the Governor, but see it as a constitutional and professional duty to hold government accountable.

By: Ariwera Ibibo-Howells, Yenagoa

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Niger Delta

Bayelsa Recommits To Fight Against Graft

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The Bayelsa State Government has stated its stance on zero tolerance for corruption in governance and cautioned residents against writing frivolous petitions to anti-graft agencies.
Deputy Governor of the State, Dr. Peter Akpe, stated this rexently when he received the Resident Anti-Corruption Commissioner of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) in ernment House, Yenagoa.

charge of Bayelsa and Rivers States, during a courtesy visit to Government House, Yenagoa.
Akpe said the general perception of those in politics has always been that of corruption, but noted that the position of the Douye Diri-led Prosperity Administration is non-tolerance for corruption.
Akpe, who frowned at the habit of writing unfounded petitions against individuals and groups, said the heap of petition files from Bayelsa State at the ICPC was several times higher than that from any other state in the country.
He reminded residents that writing unjustifiable petitions to anti-graft agencies is not only a bad culture, but also attracts jail penalty, and assured the ICPC of the state government’s support to improve public enlightenment.
“Our government is a government that believes in zero tolerance for corruption; that is why we are always open to interact with you and other anti-graft agencies.
“Usually, there is this issue of negative perception of politics and politicians. But it is not true that every politician is corrupt. We have a good number of people in politics that are not corrupt, and we believe that a good percentage of them are in this government.
“The issue of petitions at the ICPC: What we observed was that the heap of files from Bayelsa were 10 times higher than the ones from even Lagos, and 15 more times than the ones from Sokoto and other states.
“That is quite disturbing. More so, most of those petitions were ion, our people should also know that such frivolous petitions can land them in jail”, he saidfrivolous.

From a personal experience, I can tell you that most of the petitions are extremely frivolous. While we will never tolerate corruption, our people should also know that such frivolous petitions can land them in jail”, he said.
Earlier in her remarks, the ICPC Resident Anti-Corruption Commissioner in charge of Rivers and Bayelsa States, Dr. Ekere Usiere, highlighted the statutory mandate of the ICPC, stressing that its mission was to carry out sensitisation on the ills of corruption in the Nigerian society.

Usiere, who expressed concern at the volume of petitions currently before the ICPC emanating from communities in Bayelsa over the management of the PIA funds, expressed the commission’s desire to partner the Bayelsa State Ministry of Information to carry out sensitisation programmes.
The ICPC Resident Anti-Corruption Commissioner was accompanied on the visit by Assistant Chief Superintendent, Mr. Evans Peters; Principal Superintendent, Mr. Emmanuel Akpor; Assistant Superintendent, Mrs. Tamaraudoubra Ebebi; and the Administrative Officer, Mr. Frank Yileaziba.

By: Ariwera Ibibo-Howells, Yenagoa

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Niger Delta

NDDC Urges Staff To Secure Retirement Future Through Pension Planning

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The Niger Delta Development Commission (NDDC) has urged its staff to take retirement planning seriously by maximising pension schemes and other financial instruments that can guarantee financial security after their years of active service.
The Director of Administration and Human Resources, Sir Kelechi Nwelue, gave the advice during a commission-wide staff interactive session with Pension Fund Administrators (PFAs) and insurance companies at the NDDC headquarters in Port Harcourt, Rivers State.
In a statement signed and issued by Seledi Thompson-Wakama
Director, Corporate Affairs, Nwelue said the programme, approved by the Managing Director of the commission, Dr. Samuel Ogbuku, was organised to sensitise staff on pension schemes and provide them with the knowledge required to make informed decisions about their retirement savings.
He particularly urged newly recruited employees to acquaint themselves with the operations and responsibilities of various PFAs before choosing an administrator to manage their pension contributions.
According to him, pension contributions deducted from employees’ salaries, alongside employers’ contributions, constitute long-term savings designed to provide financial support after retirement.
He urged staff to carefully assess the information provided by the participating pension administrators and choose the option best suited to their long-term financial interests.
Nwelue stressed that employees were at liberty to select their preferred pension administrator, noting that the interactive session provided an opportunity for the various companies to explain their products, services and benefits.
Also speaking, a Director in the Directorate of Administration and Human Resources, Mr. James Fole, said the programme was aimed at deepening employees’ understanding of pension, insurance and other financial instruments that could improve their financial wellbeing during and after active service.
Fole warned that inadequate preparation for retirement could expose employees to financial hardship in their post-service years.
He said: “That is not what the Managing Director, Executive Management and the entire management want for our staff. We want to see a situation where retirees enjoy a reasonable level of comfort, knowing that the Commission has contributed to their future.”
He added that equipping employees with appropriate financial knowledge while they were still in active service remained critical to achieving a financially secure retirement.
Several pension and insurance companies participated in the interactive session.

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