Business
Oil Sector: ACLSD Boss Harps On Transparency
The Executive Director,
African Centre for Leadership, Strategy and Development (ACLSD), Dr Otive Igbuzor, has called for more transparency in the oil and gas sector to boost government revenue.
Igbuzor made the call last Tuesday in Abuja while speaking with journalist.
He decried the corruption and lack of transparency in the sector and called for institutional reforms and quick passage of the Petroleum Industry Bill (PIB) in order to reposition the sector.
“There is so much corruption and lack of transparency in the oil and gas sector and this is adversely affecting the economy of the nation.
“We need to put in place stringent laws and ensure that the Petroleum Industry Bill is quickly passed into law because the economic stability of our country depends on it,’’ Igbuzor said.
He said the PIB, when enacted, would help put in place a fiscal framework that would attract more investment to the sector.
Igbuzor said that corruption and weak institutions were responsible for the high level of oil theft and pipeline vandalism in the country.
He urged the Federal government to evolve comprehensive approach involving the security agencies, oil companies and host communities in the fight against the menace.
Igbuzor urged the media and civil society organisations to continue to champion the need for transparency and accountability in the sector.
He said the ACLSD was already working with both local and international non-governmental organisations to put the issue of transparency and efficiency in the sector as top priority.
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Business
Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
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