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Saving Our Commonwealth: Thoughts on Legislative Oversight

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In 1787, the United States gave the world a unique gift. Through the famous Philadelphia Convention, Congressional Oversight came into existence as a means of reviewing, monitoring and supervising government agencies, programmes and activities. Aside the American Congress which continues to exercise this legislative power through the Congressional Committee System, other democracies including Nigeria are today partakers of this great tradition.

Perhaps initiators of the concept of legislative oversight acknowledged the fact that human beings when entrusted with responsibility and commonwealth are likely to abuse the privilege, hence the need for checks and close watching. There is no where that the tendency to abuse office and commonwealth is more glaring than the Third World countries such as Nigeria and other Sub-Saharan African countries.

For us in the House of Representatives, our equivalent of the American Legislative Reorganization Act of 1946 which concretised the Philadelphia Convention is Section 88 of the 1999 Constitution (as amended) and Order xviii, Rule 184 of the Standing Orders of the House of Representatives. Here, oversight is embedded in the powers of the legislature.

I admit that there is some truth in the allegation that in a few isolated cases, this power of legislative oversight has been abused for selfish purposes by those who do not understand the purpose and import of the role. This isolated few do not appreciate that oversight is a sacred duty being carried on behalf of the Nigerian masses who entrusted us with such solemn responsibility.

A few days ago, I had reasons to reflect on oversight as a legislative tool. My thought also drifted to the state of Nigeria’s public institutions, not necessarily in the oil and gas sector. My reflections stemmed from a recent oversight tour of both public and private businesses in the petroleum downstream sector in the South-West geo-political zone of Nigeria. For a while, I saluted the courage and vision of men like James Madison and other founding fathers of America who thought it wise to empower Congress with the power of oversight. I really do not think I should overemphasise the privileges and opportunities American citizens and public organizations have enjoyed over the years on account of this legislative instrument.

Nigeria’s National Assembly does not have the long history or the good fortune of America’s Congress that has over two centuries of uninterrupted process. This partially accounts for the few isolated cases of abuse of power of oversight. However, I still believe our legislature need not attain that stature of America’s Congress to effectively add value to the democratic process and there is no better time than now to monitor government business and our commonwealth. As our public organizations stand today, there is really need to worry. And except we urgently address our decrepit infrastructure and man power needs with everything at our disposal, our public institutions may one day grind to a halt.

As representatives of our people, we therefore have everything to gain by routinely monitoring the executive arm for probity, fidelity and above all, efficiency without necessarily being adversarial. This is a sacred duty we owe to the ordinary Nigerian people who have vested in us their trust.

But for this recent oversight tour involving members of the House Committee on Petroleum Resources (Downstream) one would not have been able to fully appreciate the enormity of the deterioration of public infrastructure in the petroleum downstream sector.

In just four days, we visited about eleven private oil and gas facilities and over four oil and gas infrastructure belonging to and managed by government. However, the most disturbing but revealing aspect of the tour is our shared view that government is a bad businessman. My colleagues and I agreed that the more businesses are removed from the purview of government, the better for that business, the government itself and even our people.

The Committee also took note of the multifarious problems facing these public institutions. For me, the most critical is power. Almost everywhere we went, power remained recurrent because it plays a vital role in almost every business venture. Issues of obsolete equipment, poor management, inadequate staffing, funding, pipeline vandalism, transparency and environmental challenges also came up.

Again, one baffling contradiction is the unresolved issues around HHK or DPK (kerosene). I had to repeatedly ask questions bordering on the never-ending scarcity of HHK or DPK and the question of transparency and greed which in my considered opinion, is at the centre of the crisis. Like most Nigerians, I know that this product which services the mass of our people never reaches the final consumer at government approved rate. Sadly, the answers were unsatisfactory. Beyond the availability of HHK or DPK, I know that Nigeria has the capacity to swiftly transit from DPK to LPG (gas) as source of domestic fuel, which is now widely used in countries like Ghana, Cameroun and other smaller countries within our sub-region. The fact that we have not taken deliberate steps to re-orientate our people and develop gas infrastructure to support the use of gas as domestic fuel in homes is an indictment on our leadership.

Therefore If we must live by the dictum which confers responsibility on democracy as a government of the people, then everybody in the public space working for Nigeria including legislators, must have the interest of the larger percentage of Nigerians at heart. If ordinary people in these less endowed countries can access gas, then our people have every right not only to LPG, but a better life. And I think that is what government is all about.

This Seventh Assembly just turned one but one could still look back with some sense of pride. In the Lower Chamber for instance, we have had challenges but we have also taken very hard and unpopular decisions in the interest of the Nigerian people. Under the leadership of the Rt. Honourable Aminu Waziri Tambuwal and Emeka Ihedioha, we have kept faith with the people of Nigeria. But we are also aware that the room for improvement is the biggest room. Those who are impatient with the National Assembly have every right to feel so but they should also be reminded that this institution is the youngest arm of government. The National Assembly certainly may not have met the expectations of majority of our people but everybody admits we are on course. Rays of hope are evident!

This may not be the best of seasons for Nigeria but we should also remember that greatness is a process, not an event, even though I disagree with those who opine that the current challenges are necessary for our growth and development. I therefore wish to congratulate the Seventh Assembly as it turns one. But I would also want to remind the law makers of the need not to falter in their constitutional duties. Majority of our people are living below poverty line, infrastructure is virtually non-existent and economic growth is stunted. Therefore, we must be guided by this reality which is very discouraging and unacceptable.

The events following the recent tragedy that befell Nigeria’s aviation industry are all pointers to the readiness of the legislature to serve the interest of Nigerians. Aside the visit to the crash site by members of both the upper and lower Chambers, the legislature has also vowed to independently carry out its own investigation regarding the crash. At other times, we also saw a parliament that was alive to its duties and willing to initiate interventions for the common good.

We must therefore support our law makers. The law makers on the other hand must also at all times invoke every legitimate legislative instrument necessary for its work. We must learn to live by the strength of our example typified by high moral standing. Oversight for instance, remains a veritable weapon. But for this weapon to be effective, information must be at the disposal of the legislature. There must also be information about the activities of where they are over sighting so that they can feed back into better law-making. That, for me is the path to travel.

Amaopusenibo (Hon.) Dakuku Peterside, member, House of Representatives is also Chairman House Committee on Petroleum (Downstream)

 

Hon. Dakuku Peterside

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Eazipay  Offers Zero-Interest Loans To  150,000 SMEs, Employees

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With a mission to ignite growth, encourage business continuity and help businesses and employees thrive, Eazipay is gearing up to propel the dreams of 150,000 SMEs and employees to new heights through her relief fund.
Gone are the days of financial constraints and stifled dreams. With Eazipay’s support, SMEs and employees alike can bid farewell to limitations and embrace a world of endless possibilities.
Whether it’s start up,  business expansion or personal development, Eazipay is here to make dreams come true.
The mind-blowing initiative, which  kicked off this month, would end in December, and will also offer a range of perks and benefits designed to put a smile on the faces of SMEs and employees alike.
From exclusive discounts to various advisory services and beyond, Eazipay is committed to spreading happiness and creating lasting impact in people’s lives and to the growth of businesses.
The technology company which offers products and services that range from payroll management to IT/Device management and assessments, “Eazipay isn’t just providing financial support but also unleashing a wave of growth and prosperity for SMEs and employees across the nation.
“Interested businesses and individuals can take part in this initiative directly from the Eazipay website: www.myeazipay.com”.

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SMEs Critical For Sustainable Dev – Commissioner

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The Commissioner of Finance, Lagos State, Abayomi Oluyomi, has described Small and medium Enterprises (SMEs) as a critical engine for sustainable development in any economy.
He said this recently at the 10th anniversary of the Alert Group Microfinance Bank and the opening of their new head office in Lagos.
According to the National Bureau of Statistics, SMEs accounted for about 50 per cent of Nigeria’s gross.
He commended the positive impact of the Alert MFB as it empowers SMEs in the State.
“Alert MFB in the past 10 years has been at the forefront of empowering SMEs in Lagos State, disbursing over N30bn in loans to over 30,000 individuals having small to medium businesses over that period, which is quite remarkable”, he said.
Speaking, the Group Managing Director of Alert Group, Dr Kazeem Olanrewaju, revealed that the financial institution commenced business in 2013 as a microfinance bank.
“We started this journey in 2013 and it has been expanding. Today, they have about 10 branches across Lagos. They have supported well over 30,000 clients and have disbursed over N30bn.
“The company has been profitable since the second year. Looking at the market and the available opportunity, the Alert MFB board decided to come together to establish a Microfinance Institute (MFI), which is the Auto Bucks Lenders”, Dr. Olanrewaju said.
The GMD further stated that the company was focused more on supporting businesses and small and medium enterprises.
“The loan to support business represents over 98 per cent. The consumer loans you will see are the ones given to entrepreneurs. So, the area of focus of Alert MFB and Auto Bucks Lenders is to support businesses across the country.
“With the establishment of Auto Bucks Lenders, we have the opportunity to also do business outside Lagos. So, presently, we have offices in Ogun State and Oyo State. We intend to go to every part of Nigeria to support what we are doing”, he declared.

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Retailers Explain Price Drop In  Cement Cost

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The cement market, in the last couple of weeks, has seen a significant turnaround with prices tumbling from between N10,000 and N15,000 per 50kg bag to between N7,000 and N8,000.
The sudden rise in the prices of cement and other major building materials in February this year upsets  the construction industry, especially in real estate, where many developers were forced to abandon building sites.
A recent market survey conducted by The Tide’s source in different locations across the country confirmed a price drop, ranging between N7,000 and N7,500 per bag, though BUA cement is selling for N7,500 to N7,800 per 50kg bag, depending on location.
Both entrepreneurs and major distributors who were interviewed,  explained that the price drop is due to low demand and government’s intervention.
At the peak of the price hike, the Federal Government called a meeting with major producers where it was agreed that a bag of cement should be between for N7,000 to N8,000, depending on location.
But the producers did not comply with this agreement immediately, followin which “Nigerians stopped demanding for cement; many project sites were abandoned as developers sat back and waited for the prices to come down.
“So, what has happened is an inter-play of demand and supply with price responding, which is Economics at work”, Collins Okpala, a cement dealer, told the source in Abuja.
In the Nyanya area of the Federal Capital Territory, a 50-kg bag of Dangote cement now sells for between N7,000 and N7,500, while BUA cement sells for between N8,500 and N9,500, down from between N11,000 and N12,000 respectively.
In Lagos, the product has seen significant price drop too. In Ojo area of the state, Sebastin Ovie, a dealer, told our reporter that what has happened is a crash from the January price, attributing the crash to low demand and stronger naira.
“The current price of the product is between N7,000 and N7,500 per 50kg bag, depending on the brand. This is a significant drop from the average of N12,000 which most dealers were selling in February and March”, he said.
A dealer in Agege area of the state who identified himself as Taofik Olateju, told the source that sales are picking up due to the drop in price.
He recalled that Nigerians at a point stopped buying due to the high price of the product at N15,000 per bag.
“I am sure most dealers ran at a loss then because we had mainly old stocks which we wanted to offload quickly”, he said, confirming that the product sells for between N7,500 and N8,000, depending on the brand and the demand for the brand.
Continuing, Olateju noted that “because the naira is now doing well against the dollar, it will be unreasonable for manufacturers to continue to sell the product at the old prices. I also believe that the federal government’s intervention and the threat to license more importers may have worked, leading to the reduction in price”.
In Enugu, the source reports that the product sells for between N7,200 and N7,500 depending on the brand and location.
“This is a city where the price of a 50kg bag went for as high as N12,000 and N13,000 in some cases in February and March”, Samuel Chikwendu said.
He added that the prices of other building materials, especially iron rods, have also dropped considerably which is why, he said, activities are picking up again at construction sites.
The story is slightly different in Owerri, the capital of Imo State, where Innocent Okonkwo told the source that low demand was also driving the price drop, adding that a 50kg bag was selling for N9,000 on the average in the state.
Sundry market observers are optimistic of further price reductions, but they remain cautious as manufacturers, wholesalers, and retailers continue to play critical roles in setting prices for end-users.
They lamented, however, that despite Nigeria’s status as one of the largest producers of cement in Africa, the price of the product continues to rise, particularly in the face of high inflation impacting the building materials market generally.
Okpala in Abuja highlighted the variations arising from direct sourcing from manufacturers versus procurement through dealers, with traders holding old stocks selling products at prices ranging from N8,500, N8,300 to N8,000 per bag.
Lucy Nwachukwu, another dealer in Abuja, said the significance of  procurement volume in determining cement costs, noting that stability in prices has been observed over the past month, with the product retailing for between N7,000 and N7,800 depending on the brand.
In Port Harcourt also, a customer, Daniel Etteobong Effiong, said the price goes between N7500 to N8500, depending on the brand and the location one is buying from.

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