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  •  Solar Cells game changer for nation s alternative power sources Buhari
    Solar Cells, game changer for nation’s  alternative power sources  – Buhari
     Solar Cells game changer for nation s alternative power sources Buhari
    Solar Cells, game changer for nation’s  alternative power sources  – Buhari
    General news1 week ago

    Solar Cells, game changer for nation’s  alternative power sources  – Buhari

    President Muhammadu Buhari, in the course of the week, directed the National Agency for Science and Engineering Infrastructure (NASENI) to produce more solar cells to boost the alternative power sources in the country.

    Chief Executive Officer of NASENI, Prof. Mohammed Haruna made this known to State House correspondents after briefing the president on the activities of the Agency on Friday in Abuja.

    The News Agency of Nigeria reports that the president gave the directive when the Chief Executive Officer of NASENI, Prof. Mohammed Haruna, updated him on the activities of the Agency on Friday in Abuja.

    President Buhari is the Chairman of NASENI.

    According to Haruna, the president also directed the implementation of modular irrigation project and the production of more farm implements, to boost agricultural activities.

    President Buhari also received a delegation of SUN Africa LLC, USA, at the Presidential Villa, Abuja, on Aug. 4. Speaking at the event, Buhari expressed the hope that the rapid integration of solar power into the country’s energy mix woujd  lead to an increase in electricity access to underserved and unserved communities.

    According to him, the Federal Government has embarked on several reforms aimed at revitalizing Nigeria’s energy sector aimed at improving energy access to communities across the country.

    He commended the interest of the U.

    S. developer to invest in Nigeria’s power sector.

    He pledged that the Federal Government would remain committed to collaborating with the private sector in improving energy access, creating jobs and industrial development.

    The president highlighted some of the reforms embarked upon by this administration to address Nigeria’s energy needs.

    Earlier in the week, the president received Letters of Credence of Canadian High Commissioner to Nigeria, Amb. James Christoff and Ambassador of Mexico to Nigeria, Juan  Oritz, on Tuesday in Abuja.

    At the event, Buhari commended collective efforts of nations towards tackling security challenges across the globe, and within Nigeria, urging more collaboration to check terrorism, banditry and insurgency.

    The Nigerian leader told the diplomats that successes in taming insecurity had been recorded through collaboration across borders, and more could be achieved.  

    President Buhari, on Aug. 3, administered the Oath of Allegiance and the Oath of Office on three new Permanent Secretaries of the Federal Civil Service.

    NAN reports that the Permanent Secretaries include Lydia Jafiya from Adamawa; Udom Okokon Ekenam from Akwa Ibom and Farouk  Yabo from Sokoto State.

    The president performed the ceremony shortly before the commencement of the weekly virtual meeting of the Federal Executive Council (FEC), at the Council Chambers of the presidential villa, Abuja.

    The FEC meeting approved 2.59 billion dollars for the development of Badagry Deep Seaport in Lagos State.

    The council also approved N2.6 billion for the procurement of utility vehicles and gadgets for security agencies operating in the Federal Capital Territory (FCT), Abuja.

    The APC National Chairman,  Alhaji Abdullahi Adamu presented the newly appointed Director-General of the party’s Presidential Campaign Organisation,  Gov. Simon Lalong of Plateau to President Buhari.

    The presentation was made at the State House Abuja on Thursday.

    The News Agency of Nigeria reports that the chairman also introduced the party’s presidential campaign spokesperson, Mr  Festus Keyamo to the president.

    Adamu was accompanied by the presidential candidate of the APC, Sen.  Bola Tinubu,  alongside the vice  presidential candidate of the party, Sen. Kashim Shettima.

    The president also congratulated two of his aides, Sarki Abba and Amb. Lawal Kazaure, on being conferred with the highest civilian national honours of Niger Republic.

    Abba is the President’s Senior Special Assistant on Household and Domestic Matters while Kazaure is the State Chief of Protocol.

    Also during the week under review, President Buhari joined the entertainment industry, particularly artistes and musicians, in commiserating with ace instrumentalist, singer and song writer, Bongos Ikwue, who lost his wife, Josephine Ifeyinwa, 73. He also joined family, friends and associates in mourning the death of former Inspector-General of Police (IGP), Mustapha Balogun.

    President Buhari had sent condolences to family, friends and associates of Prof. Akin Mabogunje, who passed on at 90. Buhari declared that Mabogunje’s “departure will be greatly felt by the nation, especially the academia”.

    President Buhari also condoled with former Head of State, Gen. Yakubu Gowon, over the demise of his elder sister, Mrs Maryamu Dimka, who died on Wednesday.

    Maryamu was the wife of Late Commissioner of Police, Mr S.

    K. Dimka, and survived by children including Mrs Elizabeth Rimdans, one time Resident Electoral Commissioner in Anambra and Bauchi State.


    NewsSourceCredit: NAN

  •  Buhari orders mass production of Solar Cells to boost power supply
    Buhari orders mass production of Solar Cells to boost power supply
     Buhari orders mass production of Solar Cells to boost power supply
    Buhari orders mass production of Solar Cells to boost power supply
    General news2 weeks ago

    Buhari orders mass production of Solar Cells to boost power supply

    President Muhammadu Buhari has directed the National Agency for Science and Engineering Infrastructure (NASENI) to produce more solar cells to boost the alternative power sources in the country.

    Chief Executive Officer of NASENI, Prof. Mohammed Haruna made this known to State House correspondents after briefing the president on the activities of the Agency on Friday in Abuja.

    The News Agency of Nigeria reports that Buhari is the Chairman of NASENI.

    According to Haruna, the president also directed the implementation of modular irrigation project and the production of more farm implements, to boost agricultural activities.

    He said: “The President is impressed that NASENI is delivering on its mandate.

    I gave him the usual quarterly briefing and he is happy with what we have done in this quarter.

    “Therefore, he has directed us to do more, particularly in the modular irrigation project that we are commencing form Adamawa State, the solar cells production and also agricultural implements.

    ” The NASENI boss informed Journalists that the agency has been able to impact the power sector, leading to the establishment of a factory in Karshi, Abuja.

    According to him, the factory has the capacity to produce 7.5 megawatt of solar energy.

    “Through our research and development activities in solar, it is so successful that through local innovations we now have a factory, 7.5 megawatt capacity Limited Liability Company.

    “The company is 100 per cent owned by government in Karshi-Abuja, producing solar modules of highest quality.

    “These modules are installed in many places, we have dealers who buy these and distribute and we participate in installations in private and government buildings.

    “7.5 megawatts cannot meet the needs of the nation and that is not making the price of solar power affordable because the cells used are imported.

    “Solar cells are products of silicon and silicon is obtained from silica, which is nothing other than the sand that we have abandoned,’’ he said.

    He said this informed the president’s approval for the Agency to obtain the facility from China in order to achieve 100 per cent made in Nigeria products, “When that is done, solar power supply will be affordable because the most expensive component is the cells,” he said.

    The NASENI boss disclosed that a unit of the agency, the Nigerian Machine Tools Osogbo in Osun State also produced protective wares for security men.

    According to him, the company is also in the process of assembling Armoured Personnel carriers, in collaboration with Azerbaijan and Indonesia.

    “The Nigerian Machine Tools Osogbo has been doing a lot in the production of protective wares; anti-ballistic helmets, and other bullet proof vests and boots among others.

    “With NASENI’s collaboration with Indonesia and Azerbaijan, we have trained people on how to assemble Armoured Personnel carriers as well as produce certain components of the carrier,” he said.

    Haruna also revealed that the agency produces laboratory equipment for science students in primary, secondary and tertiary institutions across the country.

    (
    NewsSourceCredit: NAN

  •  NASENI urges NUC to overhaul entrepreneurship education curriculum
    NASENI urges NUC to overhaul entrepreneurship education curriculum
     NASENI urges NUC to overhaul entrepreneurship education curriculum
    NASENI urges NUC to overhaul entrepreneurship education curriculum
    General news2 weeks ago

    NASENI urges NUC to overhaul entrepreneurship education curriculum

    The National Agency for Science and Engineering Infrastructure (NASENI) on Monday called on National Universities Commission (NUC) to overhaul the curriculum used in teaching entrepreneurship courses in the nation’s universities.

    .

    The Executive Vice Chairman NASENI, Prof. Mohammed Haruna, canvassed this at the ground breaking of the permanent site of its Skills Development Centre and North Central Science and Engineering Integrated Laboratory, Keffi, Nasarawa State.

    Haruna, who is also the Chief Executive of the agency, said most tertiary institutions in the country had no qualified lecturers and the enabling environment to teach entrepreneurship.

    The NASENI boss explained that entrepreneurship was a practical course taught only by practicing entrepreneurs.

    He said that experts in management sciences and marketing with no training in entrepreneurship were not competent enough to teach entrepreneurship courses.

    Prof. Haruna assured that NASENI skills development centres across the country would collaborate with willing tertiary institutions in their catchment areas to bridge the manpower gap.

    He said that the inauguration of NASENI skills development centre, Keffi symbolised government’s commitment to the development of technology base for the nation.

    Haruna said the centre would serve as a knowledge transfer centre for the development of traditional design technology and standardisation.

    This, according to him, is aimed at quality control with a view to enhancing the marketability of products developed by adopting indigenous technology and methods.

    “This in turn will facilitate job creation and economic empowerment of our teeming populace especially youths.

    “The establishment of Keffi skills centre will also complement the efforts of both the state and federal governments on job creation.

    “For peace to prevail in any society, citizens, particularly the youth, must be meaningfully engaged and gainfully employed through capacity building for the generation of job opportunities”, he said.

    He said the establishment of the skills development centres across the country would also help the nation to leapfrog into the 4th industrial revolution.

    “We cannot afford to be left behind as low technology base is the bane of underdevelopment”, he said.

    The NASENI boss commended the efforts of Nasarawa state government in reviving crafts schools and Technical Colleges for skills acquisition, which he described as ‘must’ for industrial development.

    Earlier, the Emir of Keffi, Dr Shehu Yamusa III, thanked President Muhammadu Buhari and NASENI for the establishment of the agency’s skills development centre in the area The traditional ruler said that the centre would go a long way to reduce youth unemployment in Keffi in particular and Nasarawa state in general.

    Also, Alhaji Mohammed Idris, Chairman of National Youth Council of Nigeria (NYCN), Keffi Chapter, expressed gratitude of Keffi Youth to Buhari administration for its numerous youth empowerment programmes since assumption of office.


    NewsSourceCredit: NAN

  •  FG establishes agric mechanisation devt institute in Lafia
    FG establishes agric mechanisation devt. institute in Lafia
     FG establishes agric mechanisation devt institute in Lafia
    FG establishes agric mechanisation devt. institute in Lafia
    General news2 weeks ago

    FG establishes agric mechanisation devt. institute in Lafia

    The Federal Government, through National Agency for Science and Engineering Infrastructure (NASENI), has established Agricultural Machinery and Equipment Development Institute (AMEDI) in Lafia, Nasarawa State.  

    Speaking at the ground breaking of the institute on Monday in Lafia, Executive Vice-Chairman of NASENI, Prof. Mohammed Haruna, said the development was part of federal government’s intervention in agriculture to revolutionise farming and food processing in Nigeria, using technology.  

    He said that the institute had the mandate of building on the successes of NASENI in the production of agricultural equipment from cultivation through the food value chain to post-harvest, processing and food preservation.  

    Haruna said that the institute would serve as a pilot location for the implementation of the agreement between Nigeria and Czech Republic on research, development of equipment and training of Nigerians in the field of agriculture.  

    He said that the institute would also focus on processing agricultural waste to renewable energy.  

    “The institute will also serve as a pilot location for the implementation of agreement between NASENI and a Jordanian agency on food safety to guarantee quality and acceptability of Nigeria’s farm produce for export,” Haruna added.  

    Also speaking, Chief of Staff to the President, Prof. Ibrahim Gambari, commended NASENI for championing the course of technological innovation and advancement in the country.  

    Represented by Senior Special Assistant (SSA) to the President on Foreign Affairs and Development Strategies, Amb. Abdullahi Omaki, Gambari assured that the present administration would continue to leverage science and technology to drive agricultural development in the country.  

    In his address, Gov. Abdullahi Sule of Nasarawa State lauded the federal government for the establishment of AMEDI in Lafia.  

    He noted that the establishment of the centre was geared toward transforming the agriculture sector into an industrial hub through job creation, youth empowerment, skills acquisition and value addition.  

    Sule said that AMEDI would complement the role of the state’s skills acquisition development centres and deepen the availability of skilled manpower to match the influx of companies coming to do business in the state.  

    He assured that state government would continue to collaborate with NASENI for other interventions in order to galvanise its development efforts.  

    In his remarks, President, Council for the Regulation of Engineering in Nigeria (COREN), Mr Ali Rabiu, congratulated NASENI for living up to its mandate.  

    He said that COREN would support the centre with a curriculum that would ensure production of quality and top notch graduates who would be ready to deliver indigenous facilities, equipment and infrastructure that would address the country’s socio-economic challenges.


    NewsSourceCredit: NAN

  •  NASENI to empower 4 000 homes with solar scheme system in Nasarawa
    NASENI to empower 4,000 homes with solar scheme system in Nasarawa 
     NASENI to empower 4 000 homes with solar scheme system in Nasarawa
    NASENI to empower 4,000 homes with solar scheme system in Nasarawa 
    General news3 weeks ago

    NASENI to empower 4,000 homes with solar scheme system in Nasarawa 

    Prof. Mohammed Haruna, Executive Vice Chairman and Chief Executive, National Agency for Science and Engineering Infrastructure (NASENI), says the agency will launch solar scheme homes system empowerment in 4,000 homes in Nasarawa State.
    Mr Peter Ewu, Special Assistant to the NASENI boss, in a statement on Wednesday in Abuja, said Haruna made the disclosure when he received a delegation of stakeholders from Nasarawa at the agency’s headquarters.
    The News Agency of Nigeria reports that the delegation visited the agency in a bid to ensure a successful inauguration of Agricultural Machinery Development Institute (AMEDI), Lafia, and NASENI Skill Development Centre and North Central Zonal Engineering and Science Integrated Laboratory, Keffi.
    The NASENI boss explained that the inauguration of the institute in Lafia and the laboratory in Keffi would create employment opportunities for both formal and informal sectors in the state.
    He also said that the establishment would ensure the training, skills acquisition and empowerment of youths on different skills such as engineering and scientific.
    Haruna, therefore, solicited the support and cooperation of Nasarawa stakeholders towards the successful inauguration of the institute and the laboratory which would be carry out by Prof. Ibrahim Gambari, the Chief of Staff to President Muhammadu Buhari.
    He informed the delegation that Gambari, who double as the Special Guest, would inaugurate and lay foundation of the AMEDI Lafia, while the Gov. Abdullahi Sule of Nasarawa would perform the groundbreaking ceremony at Keffi.
    Earlier, leader of the delegation, Aminu Maifata, Executive Chairman, Lafia Local Government, commended NASENI boss for the innovative and transformative strides in the agency.
    Maifata also applauded Prof. Haruna for being an exemplary leader and illustrious son of Nasarawa State.
    He assured full support and assistance of the delegation in ensuring that the event is successful.
    He said that Nasarawa State would continue to be a state of repute in growth and development of the country.
    NAN recalls that in a quest to diversify Nigeria’s economy in line with President Muhammadu Buhari administration agenda, NASENI received a presidential approval for the establishment of North Central Zonal Institute in Nasarawa State.

    NewsSourceCredit: NAN

  •  NYCN hails NASENI s proposed skills acquisition centre in Keffi
    NYCN hails NASENI’s proposed skills acquisition centre in Keffi
     NYCN hails NASENI s proposed skills acquisition centre in Keffi
    NYCN hails NASENI’s proposed skills acquisition centre in Keffi
    General news3 weeks ago

    NYCN hails NASENI’s proposed skills acquisition centre in Keffi

    The National Agency for Science and Engineering Infrastructure (NASENI) has been commended for proposing to establish its skills acquisition centre in Keffi.

    Alhaji Mohammed Idris, Chairman,  National Youth Council of Nigeria (NYCN), Keffi Local Government Chapter, Nasarawa State, made the commendation in a statement in Keffi on Sunday.

    He commended NESENI’s Executive Vice Chairman, Prof.

    Mohammed Haruna, for choosing Keffi as the location for the North-Central skills acquisition centre.

    The youth leader said the centre would provide skill-learning opportunities for the people of the area when it came on stream.

    According to him, it will enable youths in the area to imbibe skills that will make them to become self-reliant.

    ”The proposed centre will help tackle unemployment, poverty and insecurity in Keffi to a reasonable extent,” he said.

    The NYCN official also commended NASENI for setting up a committee for the symbolic inauguration of the agency’s North-Central Zonal Agricultural Machinery Equipment Development Institute, Lafia.

    Idris said that the establishment of the skills acquisition centre in Keffi and the institute in Lafia by NASENI was a good omen to the state.

    He said that the projects were a demonstration of the Federal Government’s resolve to tackle poverty in the country.

    He commended the President Buhari-led governnment for providing the needed funding for the agency to perform its functions.

    ”The agency has been able to prove its mettle and delivered on its core mandates.

    ”It has done so well in terms of technology transfer, training, food security and agriculture mechanisation,” he said.

    NewsSourceCredit: NAN

  •  NYCN commends NASENI boss over achievements on human capital development
    NYCN commends NASENI boss over achievements on human capital development
     NYCN commends NASENI boss over achievements on human capital development
    NYCN commends NASENI boss over achievements on human capital development
    General news2 months ago

    NYCN commends NASENI boss over achievements on human capital development

    National Youth Council of Nigeria (NYCN) has commended Prof. Mohammed Haruna, the Executive Vice Chairman, National Agency for Science and Engineering Infrastructure (NASENI) for his giant stride achievements on human capital development.

    The NYCN Chairman, Keffi Local Government Chapter, Alhaji Mohammed Idris, made the commendation in a statement on Wednesday in Keffi, Nasarawa State.

    Idris also applauded NASENI for ensuring the implementation of collaboration between Nigeria and Jordan on technology transfer, training, food security and agriculture mechanisation which were outcomes of the recent agreement signed between the agency and the Gheras, Decapolis and Ebsilon Group, Hashemite, Jordan.

    The youth leader said the agency, under Prof. Haruna, had proved beyond reasonable doubt its capacity to deliver development goods through its achievements in the production and promotion of local content with its numerous innovations.

    He also hailed the agency for the establishment of many entrepreneurship centres across the country which had the capacity to train youths in various new and emerging technologies and to make them self-reliant.

    ” We the leadership of NYCN Keffi Local Government, the native town of the NASENI boss, are pleased with how he is repositioning and transforming the agency in line with its mandate.

    ” We are glad that NASENI, under Prof. Haruna’s watch, has evolved a new approach to addressing the need for a viable and or the laying of a sustainable foundation for the industrialisation of Nigeria.

    ” We are also grateful to NASENI boss for offering employment opportunities to many indigenes of Keffi and Nasarawa State.

    “This is what we have been yearning for in our locality. We need more people who value human capital development.”

    Idris, therefore, called on other sons and daughters of Keffi and Nasarawa states to emulate the efforts of NASENI boss in providing empowerment opportunities for the younger generation.

    NewsSourceCredit: NAN

  •  FG calls for proposals on Czech Nigeria technology transfer
    FG calls for proposals on Czech-Nigeria technology transfer
     FG calls for proposals on Czech Nigeria technology transfer
    FG calls for proposals on Czech-Nigeria technology transfer
    General news3 months ago

    FG calls for proposals on Czech-Nigeria technology transfer

    The Federal Government through the National Agency for Science and Engineering Infrastructure(NASENI) has called for solution-based research proposals that address socio-economic problems of the country.

    Dr Muhammed Dahiru, Chairman of the Presidential Implementation Committee (PIC) on Technology Exchange  between Nigeria and the Czech Republic, disclosed this in Abuja on Wednesday.

    The event was tagged: Launch of Call for Research and Development Proposals for Delta-2 Programme.”

    He said the launch was simultaneously hosted by the Technology Agency of the Czech Republic (TA CR) with at least eight other participating countries.

    Dahiru said it was the first part of the project procedure scheduled on “TA CR Delta 2 Programme for bilateral cooperation in applied research and technology transfer for agriculture, mining and general manufacturing.

    “Research and development (R&D) proposals are now invited from Nigerian academic community, research and development institutions as well as private companies and independent researchers on three priority areas,’’ he said.

    The PIC chairman mentioned these areas to include: agriculture and food technology, mining and industrial development and general manufacturing for SMEs development.

    He recalled that the inauguration of the PIC on Technology Exchange between Nigeria and the Czech Republic took place in December 2020.

    According to him, this was in response to the need for the implementation of the existing Memorandum of Understanding (MoU) between Nigeria, represented by NASENI and the Czech Republic, represented by the Technology Agency of the Czech Republic (TA CR).

    He said the MoU would subsist until its expiration in 2024, listing the priority areas to include: biotechnology and pharmaceutical research, agriculture and food technology, mining and industrial development.

    Others, according to him are: energy technology, sustainable transportation technology, environmental protection and sustainability, information and communication technology, nano-science,nano technology and advanced material, genomic medicine among others.

    Dahiru stated that in the PIC’s Terms of Reference, the committee was expected to collaborate with relevant stakeholders and partners to ignite a process of fostering growth and expansion of  infrastructure, manufacturing and innovation in the country.

    Prof. Mohammed Haruna, Co-Chairman of the PIC, said the call for public proposals for the Delta-2 programme was one of the projects to be implemented under the agreement.

    He said the Delta-2 Progranmme was the cooperation model of the TA CR running for the period from 2020 to 2025, through which TA CR sponsors applied research and innovation of manufacturing companies and innovative institutions.

    Haruna said the technologies would be sourced from Czech Republic’s manufacturing companies, tertiary, research and development institutions.

    He further disclosed that the Czech government had allocated approximately the sum of 10.5 million U.S dollars as research fund through the TA CR.

    Accordingly, he said NASENI on behalf of the Federal Government had supplemented this sum to the tune of N2 billion or 5.7 million U.S. dollars.

    Haruna expressed optimism that technology acquisition and domestication through the collaboration would help Nigeria bridge the technology gap existing among the Western nations.

    He also said it would facilitate transition to a manufacturing economy, adding that deployment of technology was crucial to mitigating socio-economic and security challenges.

    Zdenek Krejci, Czech Ambassador to Nigeria, said Nigeria was a significant partner to all African countries.

    Represented by Beata Matusikova, Head, Economic and Commercial Affairs at the Embassy of Czech Republic, he noted that Czech Republic and Nigeria were developing stronger ties through technology transfer.

    Highlight of the event was the presentation on how to participate in the Delta-2 Programme, by John Mbiimbe, Head, ICT at the PIC Secretariat and goodwill messages.

    The News Agency of Nigeria   reports that the event was attended by scientists, professionals, businessmen, academics, cbankers among others(www.nannwes.ng)

    (NAN)

  •  Reps approve N4trn for fuel subsidy
    Reps approve N4trn for fuel subsidy
     Reps approve N4trn for fuel subsidy
    Reps approve N4trn for fuel subsidy
    General news4 months ago

    Reps approve N4trn for fuel subsidy

    The House of Representatives on Thursday approved N4 trillion for the fuel subsidy in the 2022 revised Medium Term Expenditure Framework (MTEF) sent to Buhari on April 7.

    The House also approved the sum of N182 billion as an increase for the salary of the Nigerian Police Force (NPF), while also approving a budget shortfall of N7.35 billion.

    This followed the consideration and adoption of the House Fice Committee report on the request for review of the 2022 Fiscal Framework in plenary.

    Buhari in a letter had requested the revision of the MTEF of 2022 to make some adjustments to adapt to current realities, such as the production and price of oil, as well as the suspension of the elimination of the fuel subsidy.

    The House, however, approved an increase in the oil reference to 73 dollars per barrel and a daily volume of oil production of 1.6 million barrels per day.

    Other approvals include a cut in provision for federally funded upstream projects being implemented from N352.80 billion.

    Others are an increase in the projection of the provision of independent income from the Federal Government of N182,450 million to meet the needs of the NPF.

    The House also approved a provision for domestic debt service of N76.13 billion and net reductions in statutory transfers of N66.07 billion.

    The Nigerian News Agency reports that the breakdown is as follows: Niger Delta Development Commission (NDDC), for N13.46 billion from N102.78 billion to N89.32 billion

    “North East Development Commission (NEDC), for N6.30 billion from N48.08 billion to N41.78 billion; and Universal Basic Education (UBEC), at N23.16 billion from N112.29 billion to N89.13 billion.

    “Basic Medical Care Fund, for N11.58 billion from N56.14 billion to N44.56 billion; and that NASENI, at N11.58 billion from N56.14 billion to N44.56 billion.”

    House Appropriations Committee Chairman Rep. Aliyu Betara said the House acted on the speaker's request and made some adjustments to fit his request into the budget.

    Source Credit: NAN

  •  Senate approves Buhari s revised 2022 fiscal framework
    Senate approves Buhari’s revised 2022 fiscal framework
     Senate approves Buhari s revised 2022 fiscal framework
    Senate approves Buhari’s revised 2022 fiscal framework
    General news4 months ago

    Senate approves Buhari’s revised 2022 fiscal framework

    The Senate, on Thursday, in plenary approved President Muhammadu Buhari's request for adjustments to the 2022 fiscal framework.

    Approval followed consideration of a report from the Fice Committee.

    The report was put up and presented by the Committee, Sen. Olamilekan Adeola.(APC – Lagos).

    Consequently, the Senate approved Buhari's proposed $73 per barrel, including the approval of an oil production volume of 1.6 billion per day;

    A Petroleum Motor Spirit (PMS) subsidy of N4 billion; and a cut in the provision for federally funded upstream projects being implemented from N352.80.

    In approving an increase in independent federal government revenue of N400 billion, the Senate approved an additional provision of N182.4 billion to address the needs of the Nigerian Police Force.

    Approved debt service provision of N76 130 million and net reductions in statutory transfers of N66 070 million.

    A breakdown of the net reductions is as follows: NDDC, by N13.46 billion from N102.78 billion to N89.32 billion; NEDC, for N6.30 billion from N48.08 billion to N41.78 billion; and UBEC, for N23.16 billion from N112.29 billion to N89.13 billion.

    Others are the Basic Medical Care Fund, for N11.58 billion from N56.14 billion to N44.56 billion; and NASENI, at N11.58 billion from N56.14 billion to N44.56 billion.

    The chamber also approved a fiscal deficit of N7.35 trillion.

    In her presentation, Adeola said that the total budget deficit was projected to increase by N965.42 billion to N7.35 trillion, which represents 3.99 percent of the Gross Domestic Product (GDP).

    According to him, the incremental deficit would be covered from the domestic market.

    The lawmakers, who contributed to the report for the 2022 fiscal framework review, blamed Nigeria's economic downturn on oil theft.

    Senator Olubunmi Adetunmbi (APC – Ekiti) said that the federal government and security agencies had a duty to stop the theft of our common wealth.

    He lamented that at a time when most countries in the world were reaping huge benefits from the crisis caused by rising oil prices, Nigeria was left out due to its inability to meet its OPEC quota.

    Senate Leader Yahaya Abdullahi said the country should be in mourning over its current experience, attributing the failure of security agencies to protect oil assets as one of the main reasons for the economy's decline.

    He expressed his concern about the increasing cases of oil theft despite the enormous resources allocated to the armed forces, the police and other security agencies.

    Other senators, such as Gabriel Suswam (PDP Benue), Betty Apiafi (PDP Rivers), urged the Senate not to rush through the President's request to adjust the 2022 fiscal framework until certain questions are answered.

    While Suswam expressed concern about the widening gap in the budget deficit and the federal government's decision to resort to Capital Market financing, Apiafi demanded responses from the NNPC and relevant agencies on solutions to curb crude oil theft. .

    The president of the Senate, Ahmad Lawan, in his final comments, urged the Federal Government to take "radical" measures to stop the theft of crude oil.

    He also called for stopping the import of refined oil products to the country, in order to reduce the expenses incurred in the process, as well as maximize profits from crude oil sales.

    “This (raw theft) is not something to play politics with, and I don't think the answers are going to be easy to find.

    “Radical decisions would have to be made, but before finding answers we have to live with this, although we have to be as quick as possible in the search for answers.

    “I had a session with the Chief of Defense Staff about a month ago, and my conversations with him were about oil theft and the efforts of our security agencies to combat this threat.

    “And as we know, our security agencies are doing the best they can, but we have people, our people, who are sabotaging the oil industry, because the theft of oil is not perpetrated but they are citizens.

    “So we must continue to support the security agencies in any way possible so that they can deal with this.

    “I also believe that, oil theft or not, until we stop importing refined products into Nigeria, we will never get the best out of the oil and gas industry.

    “We should therefore work to ensure that we produce our refined products locally, because that is one way of reducing our import expenses.

    “I also think diversification of the economy is key, because we are so dependent on this oil and gas industry, the slightest problem that affects it internationally seriously affects us at home,” Lawan said.

    Source Credit: NAN