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Senate President says PIB will increase Nigeria’s oil revenue

Lawan has assured Nigerians that the Senate will prioritise the PIB when it resumes sitting later in the month.

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We will pass PIB, Electoral Act before end of 2021- Senate President

Senate President, Ahmed Lawan, has said that the Petroleum Industry Bill will be a priority to the Senate when it resumes sitting on the 26th of January.

The Senate President also stated that despite some forces working against the implementation of the Bill, the Senate would work to get it passed.

Ahmed Lawan disclosed this while addressing newsmen in an event to mark his 62nd birthday on Tuesday in Abuja.

READ: PIB and its unsurmountable obstacles

“By the grace of God when we resume, we will start work on the Petroleum Industry Bill (PIB); that is going to be one legislation that not only Nigeria but the entire world is waiting for because that will change our economy.

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“Money will start flowing so we want you to be in that journey with us so that you too, when the history of PIB passage and assent will be written, your names will be reflected.

“We promised Nigerians that we are going to achieve that by the grace of God in the year 2021,” he said.

READ: FG to deliver 1 million vehicle conversion to autogas by end of 2021

He added that the Senate was faced with forces that did not want to see the signing of the bill, however, he promised that the Senate would persevere to see the Bill gets signed.

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“There are people both within and outside the country who will work against it but it is going to take the strength of our patriotism to pass it,” he said.

Mr. Lawan cited the amendment of the Deep Offshore Production Sharing Contract and promised that the PIB would be treated with the same speed.

READ: NNPC to support alternative energy initiative by deploying CNG plants across the country

“We close by 2a.m., 3a.m., just working to amend that act, people didn’t want it to happen because it stopped what has been happening for 20 years.

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“In a week, they thought it was a joke. In a week we finished the amendment because the house was on recess, the day they returned, they concurred” he said.

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READ: FG assures oil companies of lower taxes in new PIB

Lawan added, “We lost billions of naira because we were supposed to be given 2 billion dollars every year in the last 20 years; they were giving us 216 million dollars.

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“But from last year, after the amendment, it is now 2 billion dollars.

“That is what we intend to do with the PIB, we will pass the PIB that will ensure that businesses here get a very competitive environment, that people are able to make profit and stay and even invest more.”

READ: The new PIB may scrap DPR, PPRA, others

What you should know 

  • Recall Nairametrics reported that the Senate President, Ahmad Lawan, said that the National Assembly would work hard to ensure the passing of the Electoral Act and the Petroleum Industry Bill (PIB), before the end of 2021.
  • The Minister of State for Petroleum Resources, Timipre Sylva, stated that the much anticipated Petroleum Industry Bill (PIB) would include provisions for lower taxes to sustain stable investments in Nigeria’s oil sector.
  • Nairametrics also reported last year that if the Petroleum Industry Governance Bill (PIGB) was finally passed into law by the National Assembly, the existing Department of Petroleum Resources (DPR), the Petroleum Products Pricing Regulatory Agency (PPPRA) and Petroleum Inspectorate (PI) might be scrapped, thereby giving way for the Nigeria Petroleum Regulatory Commission to take over their functions.

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World Bank grants Cross River $20 million under SFTAS programme

The Cross River State government has received from the World Bank, $20.4 million as grant for the SFTAS programme.

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Cross River to launch rice mill by December, set to boost local rice production , Ayade suspends transport agency over illegal taxation, orders arrests of illegal tax collectors

The Cross River State government announced that it received the sum of $20.4 million as World Bank grant for the States Fiscal Transparency Accountability and Sustainability (SFTAS) programme.

This was disclosed by the Finance Commissioner, Mr Asuquo Ekpenyong, on Friday in Calabar, during a press briefing.

The Commissioner said the state was able to receive the grant due to being scored high marks by independent verification assessors for the programme.

  • “The assessment exercise, conducted in September 2020 by the Independent Verification Assessors from the office of the Auditor-General of the Federation, showed that we achieved six disbursement linked indicators (DLIs) out of the nine applicable for 2019 and 100 percent for 2020 additional financing,” Ekpenyong said.

He added that the report showed Cross River had improved its public debt and fiscal framework.

  • “The report also indicates that the state has strengthened its public debt management and fiscal responsibility framework, improved debt and instituted a more transparent budgeting process over the course of the fiscal year,” he said.

Cross River state government said the grant would be used to finance part of its 2021 budget.

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What you should know 

  • The World Bank SFTAS loan between the FG and the bank was agreed in 2018, valued at $750 million with a grace period of 5 years and maturity of 30 years. The aim of the loan is to help strengthen fiscal transparency, accountability and sustainability in the participating states.
  • The program is a hybrid with two components of activities that support Nigerian states to achieve the key result areas of the program: (1) a performance-based financing component for state governments, which will be implemented as a PforR; and (2) a technical assistance (TA) component for states and selected national-level institutions, which will be implemented as an investment project financing (IPF).
  • Nairametrics recently reported that the Kwara State Government won the 2019/2020 World Bank-supported State Fiscal Transparency, Accountability and Sustainability (SFTAs) award. The award came with a monetary reward of $16.9 million and was the highest ever achieved by the state since the initiative began in 2018.

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Lagos to close Apapa dockyard road for Railway Modernization project

The Lagos State Government has announced the proposed shut down of the Apapa Dockyard Road for one week for construction works.

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BUS, Lagos to close Ilupeju, Jibowu-Yaba axis for railway project, Lagos shuts Ketu-Mile 12 section of Ikorodu road, outlines alternative routes, Motorists to pay N1000 penalty at Lekki-Ikoyi Toll Plaza

The Lagos State Government has announced the planned temporary shutdown of Apapa Dockyard Road from 5:00 pm on Sunday, January 17 to 5:00 am on Sunday, January 24, 2021, for construction works as part of the Nigerian Railway Modernization Project (Lagos-Ibadan).

This disclosure is contained in a statement that was issued by the Lagos State Commissioner for Transportation, Dr Frederic Oladeinde, Friday, January 15, 2021.

Oladeinde in his statement, explained that the tracks of the standard and narrow gauge lines will be laid during the temporary closure, adding that this will allow the contractors to work without any form of hindrance to meet set deadlines.

He advised motorists heading towards Naval Dockyard from Ajegunle to go through Marine Bridge to link Ijora Bridge and descend to Under Bridge (Ijora 7up) to connect through Forte Oil/Conoil Depot to the Western Naval Gate, while those coming from Ijora Olopa are to link Ijora Oloye through Under Bridge (7up).

While informing road users heading towards the Naval Dockyard from Ijora Badiya that they would be directed to ascend Total Bridge, make a u-turn under the bridge and reconnect the bridge again to descend Under Bridge (Ijora 7up) for access to the Western Naval Gate, the Commissioner said those coming from Iganmu are required to link the Naval Dockyard from Under Bridge (7up) as well.

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Oladeinde emphasized that motorists whose movement will be disrupted by the closure are enjoined to utilise the provided alternatives and follow the directives of the Lagos State Traffic Management Authority personnel assigned to minimise inconveniences along the corridors.

The Commissioner, however, appealed to the motoring public to abide by the measures put in place to ensure ease in movement despite the ongoing construction, restating that a seamless multi-modal transportation system will soon be in place to meet the needs of all residents.

What you should know

  • The Lagos-Ibadan railway is part of the Nigerian Railway Modernization project, which involves the realization of a new standard gauge railway line with connection to other states.
  • The Lagos State Government had recently temporarily closed some roads for construction work as part of the Nigerian Railway Modernization project. Some of the roads earlier closed, include those at Agege, Iganmu and so on.

 

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Lagos reaffirms that schools should reopen on January 18

The Lagos State Government has reaffirmed that all public and private schools in the state will should resume next week.

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#EndSARS: Anyone found culpable in Lekki Toll Plaza shooting would be held accountable - Sanwo-Olu

The Lagos State Government has affirmed its earlier pronouncement that all public and private schools in the state below tertiary level should resume on Monday, January 18, 2021, for the second term 2020/2021 academic session.

This clarification by the state government is coming against the backdrop of opposition from some stakeholders and uncertainty amongst parents and students on the resumption of schools.

According to a statement by the Head, Public Affairs, Lagos State Ministry of Education, Kayode Abayomi, on Friday, January 15, 2021, this affirmation was made by the state’s Commissioner for Education, Mrs Folasade Adefisayo.

The Commissioner maintained that the resumption is in line with the Federal Government’s resolution after reaching a consensus with relevant stakeholders.

Adefisayo, while welcoming all to a happy and successful new academic term, urged students and members of staff to stay safe and adhere strictly to COVID-19 guidelines, adding that schools must provide soap, wash hand basin, alcoholic hand sanitisers, thermometers, and other essential items in public and private schools across the State.

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She stressed the washing of hands, wearing of face masks, and maintenance of social distancing must be adhered to in order to avoid further spread of the virus.

She added that, “All schools must ensure strict compliance with subsisting COVID-19 requirements for school’s resumption. Administrators of both public and private schools are expected to ensure full compliance with the guidelines for school’s re-opening in their respective schools as the State’s Office of Education Quality Assurance Team will be on the ground to monitor situations in all schools across the State.’’

What you should know

  • It can be recalled that the Lagos State Government had earlier announced that all public and private schools below the tertiary level in the State should resume for the second term 2020/21 academic session from Monday, January 18, 2021.
  • The state government also advised all schools to come up with flexible plans where students and teachers who feel sick can teach or learn from home through available online platforms, adding that schools should also strive to prevent any COVID-19 infection among all students and staff.

 

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