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Group Canvasses Adequate Funding For Oil And Gas Regulatory Agencies

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Some Civil Society Organisations (CSOs) have called on the Federal Government to adequately fund the regulatory agencies in the oil and gas sector.
The CSOs made the call yesterday at a meeting organised by the Africa Network for Environment and Economic Justice (ANEEJ) in Port Harcourt.
They opined that adequate funding would help to increase the effectiveness and independence of the agencies.
The Tide’s source reports that the meeting had in attendance 47 participants drawn from civil society organisations, representatives of the media and some communities in the Niger Delta region.
The Acting Executive Director of ANEEJ, Mr Leo Atakpu, said that the meeting was to enable them to reflect on the state of the Niger Delta region and the quest for late Ken Saro Wiwa’s struggle for environmental justice.
Atakpu, represented by ANEEJ Board member, Mr Nowinta Igbotako, also said that the meeting was to discuss emerging issues that had implications on the Niger Delta environment.
According to him, the meeting was part of the implementation of the advocacy for fossil fuel phase out in Nigeria, supported by the African Climate Foundation.
He said that the group was particularly interested in advancing the implementation of Paris Climate Agreement by encouraging oil companies and their investors to adopt the call for carbon emission reduction targeting 1.50C and bellow.
He said that the group’s interest was also about the fossil fuel phase-out with a just energy transition projection to protect the natural environment from pollution and over-exploitation.
Atakpu said that despite the urgent need for the world to quickly move away from fossil fuel or drastically reduce carbon emission to meet the 1.50C target set in Paris, oil and gas companies had yet to provide realistic plans that would save the planet from destruction and ensure global comfort.
“Major oil companies have abandoned initial climate commitments for short term profit because of increased global demand for crude oil.
“In 2023, the Church of England Pensions Board, a major investor in Shell and other oil companies, announced that it is withdrawing its fund from Shell and other companies because such companies had abandoned their climate commitments for short term profit.
“Nigeria’s oil wells are constantly being developed, the environment, including land, air and water, is polluted.
“The people’s livelihood has been badly affected.
“These are some of the reasons ANEEJ produced a documentary to show evidence and reflect on Saro Wiwa’s struggle for environmental justice in the Niger Delta region,” Atakpu said.
The meeting also discussed the outcome of COP28, which took place in Dubai in December 2023.
It also discussed the recent spate of divestments by International Oil Companies from on-shore operations in the Niger Delta, particularly the announcement by Shell of the planned sale of its Nigerian on-shore subsidiary, Shell Petroleum Development Company of Nigeria.
The meeting also discussed the recently released responsible investment report by the Norges Bank Investment Management, a major investor in Shell, Eni and other oil companies.
In a communique, the meeting decried the lack of recognition of Shell’s operational failures by Norges, in spite of the evidence presented in the reports and witness statements, which showed that Shell could have done more to prevent and remediate oil spills in the region.
The meeting also decried the weak regulatory framework in the oil and gas sector in the country, where regulators depend on the oil and gas companies’ facilities and data to do their job.
The CSOs, therefore, urged the Federal Government and the regulators to adopt a national framework on responsible divestment that would guide oil companies’ divestment to align it with environmental restoration and climate mitigation.
They also decried the poor participation of political actors from the region in the global climate change discourse, including the COP processes.

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Yahaya Bello: Senator Hails EFCC’s Probe Of N80.2bn Fraud

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Senator representing Kogi Central Senatorial District in the National Assembly, Natasha Akpoti-Uduaghan, has commended the efforts by the Economic and Financial Crimes Commission, (EFCC) to apprehend and prosecute the immediate past governors of Kogi State, Alhaji Yahaya Bello, over an alleged N80.2 billion fraud.
This is just as she also hailed the EFCC chairman, Ola Olukoyede, for ceding 14 properties that were initially forfeited to the federal government to the government and people of Enugu State.
Reacting to Bello’s excuse for not honouring the EFCC’s invitation, the lawmaker emphasized the need for the commission to investigate other corrupt public officials to avoid the impression that their actions against former governor were meant to witch hunt him.
In a now-viral video, the EFCC chairman had claimed Belloh told him that a female senator (name withheld) allegedly gathered journalists to humiliate him anytime he was at the agency’s Abuja office for interrogation.
“I called Yahaya Bello, as a serving governor, to come to my office to clear himself. I shouldn’t have done that. But he said because a certain senator had planted over 100 journalists in my office, he would not come.
“I told him that he would be allowed to use my private gate to give him a cover, but he said my men should come to his village to interrogate him,” Olukoyede was quoted as saying.
But Senator Natasha in a statement signed by her Chief Press Secretary, Arogbonlo Israel and issued at the weekend in Abuja, reminded Yahaya Bello of the importance of respecting Nigeria’s laws and constitution, given his former position as the chief security officer of Kogi.
“I was surprised to hear that Yahaya Bello evaded the invitation from the EFCC, despite having served as Kogi’s former chief security officer. As a former governor, he should understand the importance of respecting Nigeria’s laws and constitution.
“It’s a well-known fact that ‘he who comes into equity must come with clean hands’. As such, I advise him to honour the invitation and clear his name while he still has the chance.
“I’d also like to take this moment to appreciate the diligence of the EFCC in handling the case so far. No Nigerian is above the law, and therefore the agency must see this case through to the end if they are to gain the trust of both Nigerians and the international community in the fight against corruption,” she said.

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Senate  Frowns Over Continued Depreciation Of Naira

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Worried over the  latest depreciation of the Naira against major foreign currencies, the Senate through its Committee on Finance, has  stated that the Legislature  is  exploring a range of policy options to mitigate the impact of Naira depreciation and foster economic stability in the country.
These, according to the committee, in a statement signed by its chairman, Senator Sani Musa (APC Niger East) and released yesterday, includes robust oversight of fiscal policies, engagement with key stakeholders, and the formulation of targeted interventions to support key sectors of the economy.
Senator Musa said the statement became necessary “to address the current state of the economy and the need for concerted efforts at tackling the instability and continuous depreciation of the Naira.”
This is even as he hoped that the “economic managers will adhere strictly to the norms and standards set by this administration to ensure that we achieve the desired outcomes in taking Nigeria to its economic growth and prosperity”, pledging the support of the National Assembly to the executive arm of government to achieve the set goals.
He, however, urged Nigerians to remain vigilant and resilient as they navigate these uncertain times, saying “together, we can overcome the challenges facing our economy and chart a path towards prosperity for all.”
The statement titled: “State of the Nation Economy and Naira Depreciation’, reads “The Nigerian economy is facing significant challenges, exacerbated by both internal and external factors.

“Despite efforts to stabilize and bolster economic growth, the numerous initiatives and bold but necessary steps and policy decisions taken by President Bola Tinubu, the persistent depreciation of the Naira against major foreign currencies has become a pressing concern.

“The recent depreciation of the Naira underscores the need for proactive measures to safeguard the stability and resilience of our currency.

“The Senate Committee on Finance is closely monitoring the situation and is committed to working collaboratively with relevant stakeholders to implement effective policies and strategies.

“It is imperative that we address the root causes of Naira depreciation, including but not limited to fluctuations in global oil prices, fiscal deficits, and structural imbalances in the economy.”

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WIW: Banigo Advocates Legislative Impetus

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The Senator, representing Rivers West Senatorial District at National Assembly Sen.Dr. Ipalibo Harry Banigo has advocated for legislative backings to enforce immunisation as a pre-condition for admission into nursing, primary and secondary schools in Nigeria.
Banigo made the assertion recently in a statement to commemorate this year’s week-long immunisation campaign in line with the World Health Organisation advocacy.
Banigo, a Harvard-trained Public Health personnel, explained that such legislation would strengthen the National Immunisation Policy in the administration of vaccines, saves lives, helps in the child normal growth, prevents serious illness and disabilities such as poliomyelitis .
The former Deputy Governor of Rivers State who is also the Chairman, Senate Committee on Health (Secondary and Tertiary), noted that Nigeria must attain at least, 90 percent vaccine coverage for all childhood and adolescence; stressing that a fully vaccinated child should have received BCG, Mussels and three doses of DTP and Polio .
She emphasised the need for collective efforts by stakeholders in the campaign against preventable diseases .
The theme for this year’s World Immunisation Week is “Humanly Possible: Saving Lives Through Immunisation” while the national theme is “Vaccine Works For All”.

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