Business

FG Targets 7,000mw To Boost Electricity

Published

8 years ago

May 4, 2016

Rivers State Deputy Governor, Dr. Mrs Ipalibo Harry Banigo 2nd (right), President PHCCIMA Dr. Emi Membere-Otaji 2nd (left) Chairman, Phillips Consulting, Mr. Foluso O. Phillips (right) Publicity Secretary, PHCCIMA; Pastor Alabi Oluwatonyi (left) during the 1st Port Harcourt Chamber of Commerce Business Luncheon at Obi Wali International Conference Centre on 28th April, 2016.

Vice-President Yemi Osinbajo said on Monday that the Federal Government was planning to generate 7, 000 megawatts of electricity for the nation within the next 18months.
The vice president stated this at the presentation of a book “Nigeria: The Challenges of Growth and Development, an In-Depth Analysis by Experts,” held at the Trenchard Hall, University of Ibadan, Ibadan.
Osinbajo stated that power remains a major challenge the Federal Government had been facing, and which the government was determined to solve.
He said that the most important part of the budget would focus on ensuring that the weak aspect of the power value chain was restored.
Osinbajo said that the nation was faced with the problem of conveying gas to the power plant, adding that the pipeline, which remained the easiest method, was frequently facing vandalism.
“Early in the life of this administration late last year and early this year, power generation was possibly at its best.
“Nigeria, for the first time was actually generating 5,000megawatts, which was the first time it will happen in the history of the country.
“On February 14, the Forcados Export Terminal was blown off, effectively ensuring that 40 percent of our gas that goes for power is no longer used for the purpose.
“This situation led to the immediate loss of 1,500 megawatts of power. It is our priority that the pipeline project is completed so that gas will be adequately supplied to the power plant,” he said.
He said that President Muhammadu Buhari had two weeks ago ordered full mobilisation of the military for the protection of pipelines in the country.
The Vice-President said that the Federal Government would, in a few days time, begin the implementation of the 2016 budget, which he described as the most ambitious in the history of the nation.
According to him, the budget is not only ambitious in size but also more in its broad range of fiscal policies. Our strategic implementation plan proposes 33 action points.
“The action points cut across six political ties of security, governance, economic diversification, power, road and rail, oil and gas, ease of investments and social investment,” he said.
Osinbajo said that for the first time in three years, the nation would have 30 per cent of the budget going for capital expenditure, a percentage that was three times higher than the last budget.
He said that the capital expenditure would take care of several aspects of infrastructure, particularly rail, road and power.
According to him, the rail link between Lagos and Kano as well as the one between Lagos and Calabar will be captured.
He said that government had budgeted that by July, 65,000 youths would be trained in software and hardware, adding that government’s aim was to build a reservoir of technologists.
Osinbajo also listed the training of 370,000 Nigerians in various vocations, conditional cash transfer to the poor and loan facilities for market women as part of the programmes to be expected.
He said that the administration would ensure that corruption has consequences, adding that no public officer who steals would go scot-free.
The Vice-President described the moment as that which Nigerians must come together to ensure that things work in the building of the nation of everyone’s dream.
Reviewing the book, Prof. Jide Osuntokun, said that the writers have carefully highlighted the various challenges bedevilling the nation and how they could be corrected for national growth and development.
“Nigeria’s problem is structural and systemic, and it could be structurally and systematically addressed,” he said.
Osuntokun said that the book articulates various ideas of the writers aimed at building an egalitarian society.
Also, Mr Oba Otudeko, the Chairman of the event, said there was no other better time to discuss the development of the nation than now when they have the company of people who cares.
He described the “House of Lords, Nigeria” as a collection of people whom the interest of Nigeria and the welfare of the citizens were paramount in their minds.
“Let me tell them that they are on the right path and they should not lose sight of the development of the country.
“This book presents a compendium of opportunities. I think it is worth having,” he said.
The Tide source reports that the 209-page book is a collection of the speeches of 11 writers from various spheres of life.
The House of Lords, Nigeria was founded 50 years ago and presently parades 34 members, with Prof. Ayodele Desalu as the “Leader.”
The event was attended by prominent citizens including investment banker, Mr Fola Adeola; Prof. Idowu Olayinka, the Vice-Chancellor, UI; Prof. Oladipo Akinkungbe and hosts of others.

Business

Western Marine Command Intensifies Anti-Smuggling Operations … Intercepts N8.75m Worth PMS

Published

4 days ago

May 17, 2024

The Tide

For officers and men of the Western Marine Command of the Nigeria Customs Service (NCS), the battle is not over until smuggling is over.
In the wake of Wednesday May, 8, 2024, the ever vigilant officers, acting on a tip-off, intercepted 177 sacks and 61 kegs of 25 litres containing petroleum products, valued at about N8.750,000million.
The items were intercepted along Isalu Creek, Badagry Waterway en-route Benin Republic.
While briefing newsmen, the Command’s Customs Area Controller, Comptroller Paul Bamisaiye, said: “This seizure is most economically significant to the Command at this period of scarcity of Petroleum Products, especially Premium Motor Spirit (PMS) in our cities, and shows the anticipatory posture in our response to economic saboteurs.
“At about 2:330hrs on Wednesday 8th May 2024, while on joint patrol by teams in the Command, credible intelligence was received of the movement of 2 boats laden with what was suspected to be petroleum products concealed in sacks. Upon receipt of the information, the team moved into Isalu creeks, Badagry waterway.
“On sighting the approach of the Officers, the smugglers took to their heels through the shore of the Creek. The loaded boats were then towed to the station at Badagry where preliminary examination was conducted and transferred to Western Marine Command Headquarters, Ibafon, Apapa, Lagos.
“Careful examination at the Command Headquarters revealed that the arrest was found to contain One Hundred and Seventy Seven (177) Sacks and Sixty One (61) Kegs of 25 Litres Premium Motor Spirit (PMS) containing Twelve Thousand Five Hundred (12,500) Liters with a total Duty Paid Value standing at Eight Million Seven Hundred and Fifty Thousand Naira (N8,750,000) only”.
Bamisaiye noted that the action of the smugglers is a contravention of Section 245 & 254 of the Nigeria Customs Service Act 2023 which the service, through Western Marine Command, is responsible for enforcing.
“The Command, under the leadership of Compt. PK Bamisaiye, is poised more than ever to rid the waterways of all acts of smuggling and economy sabotage for the benefit of the growth of economy of Nigeria”, he said
Bamisaiye said so far, no suspect was arrested in the Command’s anti-smuggling operations.

Nkpemenyie Mcdominic, Lagos

Business

Illegal PMS Trading Booms In Lagos

Published

4 days ago

May 17, 2024

The Tide

Petroleum products being sought by motorists have disappeared from virtually all filling stations within Lagos and its environs, but are now booming in business in retail outlets.
Investigations by our correspondent revealed that while the product could not be got at some of the petrol service stations, activities are in top gear in the local retail outlets where the price has gone beyond the reach of users.
It was also gathered that in some filling stations supplied with the products, preference are often given to retail outlet operators by petrol attendants against the consuming public.
A source, directly involved in the business, said some petrol dealers are cashing on the irregular supply to divert the products to retail outlets where they could easily make their gains.
It was also gathered that some sales representatives in the service of major oil marketing firms indulged in the diversion exercise because of their personal interest.
At the retail outlets a liter goes for N950,00 against the normal N760,to N800 at some stations.

Nkpemenyie Mcdominic, Lagos

Business

Customs Board Appoints Five DCGs, Eight ACGs

Published

4 days ago

May 17, 2024

The Tide

The Nigeria Customs Service Board (NCSB) has confirmed the appointment of five Deputy Comptroller-Generals (DCGs) and eight Assistant Comptrollers-General (ACGs) of Customs during its 59th regular meeting.
The meeting, chaired by the Honorable Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun, was held at the Nigeria Customs Service Headquarters in Abuja last Tuesday.
National Public Relations Officer of the Service, Chief Superintendent of Customs, Abdullahi Maiwada, who disclosed this in a statement yesterday, gave details of the confirmed appointments as: O.O. Peters (DCG /Commander, Training and Doctrine Command (rtd); B.M. Jibo (DCG Enforcement Inspection & Investigation); and B.U. Nwanfor (DCG Excise, Free Trade Zone & Industrial Incentives).
Others are: S.A. Bomia (DCG, Commander Training and Doctrine Command); and C.K. Niagwan (DCG, Tariff & Trade).
The Assistant Comptrollers General (ACGs) are: B. Imam (ACG Board); A.A.S. Oloyede (ACG, Trade & Tariff); S.K. Dangaldima (ACG/Zonal Coordinator, Zone ‘B’); A. Abdul Azeez (ACG/Zonal Coordinator, Zone ‘D’); S.A. Yusuf (ACG, Human Resource Development); N.P. Umoh (ACG, Training and Doctrine Command); C.O. Obih (ACG/Zonal Coordinator, Zone ‘C’); and S. Chiroma (ACG, Strategic Research and Policy).
The new appointments, according to the statement, were made to fill the vacancies created by some senior officers who recently retired from the Service, noting that the principles of federal character, seniority and merit guided the appointments approved by the board.
“These appointments are a testament to the officers’ exemplary services and dedication to the Nigeria Customs Service. The NCSB remains committed to providing strategic leadership to ensure effective and efficient service delivery for optimum performance”, he said.
While thanking the retired members of the management for their meritorious services, the Comptroller General of Customs, Bashir Adewale Adeniyi, congratulated the newly confirmed officers and charged them to redouble their efforts to ensure the service attains greater heights in its mandates of revenue generation, suppression of smuggling, and trade facilitation amongst others.

Nkpemenyie Mcdominic, Lagos