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SUBSIDY REMOVAL: NEC SETS UP AD-HOC COMMITTEE TO LIAISE WITH LABOUR UNION LEADERSHIP

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SUBSIDY REMOVAL: NEC SETS UP AD-HOC COMMITTEE TO LIAISE WITH LABOUR UNION LEADERSHIP

Urges State Governments to upscale distribution of palliatives
Mourns military personnel killed in Niger State

By: Our Reporter

In a bid to create a forum for dialogue towards resolving issues surrounding the petrol subsidy removal across the States, the National Economic Council (NEC) has constituted an Ad-hoc Committee to engage with the leadership of labour unions.

The decision was reached at the 135th meeting of NEC chaired by the Vice President, Sen. Kashim Shettima in Abuja on Thursday.

The committee comprises the Nigerian Governors Forum Chairman, AbdulRahman AbdulRazaq; Governor of Anambra State,Chukwuma Soludo; Chairman of Progressives Governors Forum, Hope Uzodinma of Imo State; PDP Governors Forum Chairman, Bala Mohammed of Bauchi State, and Abia State Governor, Alex Otti.

Vice President said the committee will liaise with the leadership of labour unions in the country to find a way forward on the emerging issues in the interest of the nation.

Council also received progress reports on the ongoing nationwide distribution of rice, grains, fertilizer, other items to States and N5 billion financial support, provided by the Federal Government and commended the Central Bank of Nigeria (CBN) and the National Emergency Management Agency (NEMA) for their interventions.

Council then noted various interventions by State governments and urged them to upscale the distribution of palliatives towards alleviating the suffering of citizens especially the vulnerable groups.

NEC also mourned the death of some military personnel in Niger State and observed a minute silence in honour of deceased, while commiserating with their families.

Below are other highlights of the meeting:

Excess Crude Account from 19th July to 14th August, 2023, $473,754.57

Stabilisation Account from 18th July to 14th August, N30,346,557,405.12

Natural Resources Account from 18th July to 14th August 2023, N115,175,616,159.65

PRESENTATION OF PRELIMINARY ASSESSMENT OF IMPACT OF FLOOD DISASTER ACROSS THE STATES IN NIGERIA BY GOVERNOR OF KOGI STATE

The Governor at the 128th NEC Meeting held on 20th October, 2022, the Chairman of the Nigeria Governor’s Forum and Executive Governor of Sokoto State, Rt. Hon. Aminu Waziri Tambuwal, drew attention of Council to the devastating effect of the 2022 flooding which affected about 31 States of the Federation that had resulted in the loss of over 600 lives, displacement of millions of people, destruction of hundreds of thousands of houses and submersion of thousands of hectares of farmlands and appealed for urgent intervention from the Federal Government to address the impact of the menace on the people and infrastructure.

Consequently, Council resolved to setup a 5-man Ad-hoc Committee on flooding comprising of Governors of Jigawa, Kogi, Anambra, Bayelsa, Lagos and Yobe State. The following were also coopted into the Committee:

Honourable Minister of Finance, Budget and National Planning

Honourable Minister of Water Resources

Honourable Minister of Agriculture and Rural Development

Honourable Minister of Humanitarian Affairs and Disaster Management

Governor of Central Bank of Nigeria

Director General, National Emergency Management Agency (NEMA)

The Terms of Reference of the Committee was to “Review the current flooding situation in the country and design a template for compensation of victims”.

The Committee had its inaugural meeting on Thursday 10th November 2022 at the Nigeria Governors’ Forum (NGF) Secretariat. Highlight of the Meeting were as follows:

The Committee acknowledged the urgency of the assignment and hence the need to expedite action in order to table a draft report at the next NEC Meeting.

A sub-committee was constituted to propose modalities to address imminent food crisis due to the flooding and possible source of funding for palliatives to victims. The Sub-committee was to be Chaired by the Executive Governor of Kebbi State and the following as Members: Ministries of Agriculture, Humanitarian, Finance, NEMA and CBN.

NEC Secretariat to develop and forward a Template with accompanying letter to all the affected States to collect data on Preliminary Assessment of the impact of the flood in the affected Communities, harmonize the data and produce report of their findings to the Committee.

LIMITATIONS

The exercise would have been more successful and effective if all the affected States had responded as and when due and according to provisions made in the template. Some of the limitations include the following:
Delay or Non-submission of filled template by some States. Only 16 out of the total number of affected States forwarded their submissions to NEC Secretariat to date as expected. About 15 others were yet to do so. The submission from defaulting States are awaited to update the database.

Some of the States that submitted did not fully complied with requisitions of the template thereby making some of their submissions difficult to process by the automated system. There is the need for compliance with laid down processes to allow for higher degree of uniformity especially considering the huge volume of data involved.

Only few States reached out to the Council Secretariat’s Technical Team for possible guidance and assistance in the exercise. States are encouraged to take advantage of the Secretariat’s personnel to address important concerns where necessary.

Only few States indicated financial implication for the damages caused thereby making it difficult to proposed a required amount of intervention.

Some submissions were not done according to the template which makes difficult to ascertain the financial implications of such states.

RECOMMENDATIONS
The plight of victims of the unfortunate flood disaster across affected States of the Federation could be alleviated if the much needed intervention from the Federal Government materialized without further delay.

There is therefore the need to expedite release of fund to affected States as recommended by designated Committees constituted by the Federal Government to that effect. This would go a long way in addressing the needs of the victims as well as offset debt incurred by some States to assist their citizens.
COUNCIL RESOLUTIONS

NEC Secretariat and officials of the Office of the Vice President to visit the affected states for on-the-spot assessment of the situation on ground. The exercise will authenticate the date submitted by state to determine needed intervention.

That Federal Government’s immediate intervention to be expeditiously carried out by NEMA, Ecological Fund Office and other relevant agencies. States to assure maximum cooperaton.

NEC resolves that all hands should be on deck to assure appropriate submission and data presentation. The quality of data collected should be enhanced to meet international standard. That the challenges of flooding deserves concerted and collective effort.

There is need to strengthen NEMA as a structure and sustainable adaptation measures for the citizens. In mobilizing resources to tem the tide of flooding, there is need to look beyond NEMA.

NEC Secretariat to come up with recommedations on the roadmap towards addressing the flood situtation.

PRESENTATION ON EXPLORING A NEC AGENDA FOR MACROECONOMICS STABILITY & SHARED PROSPERITY BY DG NESG

The Presentation was to inform the council on achieving low Inflation and stimulation Growth and Macroeconomic Objectives.

MACROECONOMIC STABILITY OBJECTIVES:

  • High and stable economy
  • Low Inflation Growth Price level
  • unemployment Account
  • Favourable Current low balance and stable exchange rate account balance

CURRENT MACROECONOMIC LANDSCAPE

  • Investment inflows have dwindled since 2019, likewise the country’s investment/GDP ratio; Crude Oil exports and refined petroleum products imports dominate Nigeria’s trade structure.
  • Nigeria’s Naira position against major trading currencies deteriorated
  • Weak FX supply and heightened demand for imports remains core drivers of exchange rate instability; market volatility persists despite recent FX alignment, driven by pressure on FX demand that widens the gap between official and parallel market rates due to inadequate supply and speculative tendencies; external reserves remain under pressure as external reserves fell by 8.3 percent from 37.1 billion in January 2023 to 33.9 billion in July 2023.
    KEY CONSIDERATION FOR IMPROVING THE OUTCOMES OF FUEL SUBSIDY REMOVAL
  • Inflationary impact: Fuel subsidy removal will increase inflation. So, there is a need for robust social programmes.
  • Efficiency in government spending: There has been a lack of clarity on how the government spends subsidy savings. This issue must be addressed.
  • Investment in the downstream and midstream segments of the industry: Achieving this will reduce huge dependence on petrol imports and strike out the need to pay subsidies on fuel.

RECOMMENDATIONS:

The NEC must insist on pushing a national legislative reform agenda for national competitiveness. It is essential that nigeria resolves the legislative binding constraints to our national competitiveness, the nesg through nassber, our partnership with national assembly and nigerian bar association has identified over 115 legislations that hinder growth, in the last few years, 10 legislations have been passed (including the cama 2020 and the pia 2021.

COUNCIL RESOLUTIONS:

  • Council commended NESG for its presentation especially on pragmatic roadmaps for tackling current economic challenges.
  • It was noted that the recommendations contained in the NESG’s roadmap needs to be reviewed to align with existing economic agenda at the national and sub-national levels for pragmatic purposes.

SUBSIDY REMOVAL: NEC SETS UP AD-HOC COMMITTEE TO LIAISE WITH LABOUR UNION LEADERSHIP

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Lawan praises Buni’s accomplishments in Yobe

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November 21, 2024

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Lawan praises Buni’s accomplishments in Yobe

By: Yahaya Wakili

The President of the Ninth Senate, Senator Ahmed Ibrahim Lawan PhD, GCON, Sardaunan Bade, Yobe North Senatorial District, has said that since assuming office on May 29th, 2019, the Executive Governor of Yobe State, Rt. Hon. Mai Mala Buni CON, has spearheaded significant accomplishments that have transformed the socio-economic fortunes of Yobe State.

The former Senate President maintained that one of his notable achievements lies in the realm of governance transparency, where he has implemented measures to enhance accountability and public trust.

“In making this a reality, Governor Buni strengthened the Yobe State Bureau of Public Procurement established in 2007 by the Public Procurement Act to promote transparency in government contracting, ensuring that contracts are awarded based on merit and that public funds are utilized efficiently.

According to Senator Lawan, as a prudent manager of resources, Governor Buni’s diligence as an astute administrator won Yobe State the World Bank’s overall top performer award on State Fiscal Transparency, Accountability, and Sustainability (SFTAS) in Nigeria.

“His impactful leadership positioned the state as a trailblazer in due process and transparency when it comes to the conduct of government business and application of public funds, Senator Lawan added.

He maintained that the Buni-led administration has adopted transparency mechanisms that guide the implementation of a biometric payroll system to eliminate ghost workers and streamline the state’s wage bill.

The president of the 9th Senate revealed that these initiatives have strengthened public finances and instilled a culture of accountability within the government.

Lawan praises Buni’s accomplishments in Yobe

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ECOWAS Court Orders ₦10 Million in Compensation in favour of Nigerian Student for Human Rights Violations

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12 hours ago

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November 21, 2024

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ECOWAS Court Orders ₦10 Million in Compensation in favour of Nigerian Student for Human Rights Violations

By: Michael Mike

The Economic Community of West African States (ECOWAS) Court has held the Federal Republic of Nigeria accountable for the unlawful detention and mistreatment of Nigerian student Glory Okolie.

The Court in a ruling on Thursday awarded ₦10 Million in compensation and issued directives to safeguard human rights.

The case arose from the detention of Glory Okolie on 13 June 2021, by Nigerian police authorities without judicial authorization.

According to the Applicants, Okolie, along with One Love Foundation and Incorporated Trustees of Behind Bars Human Rights Foundation, she was denied access to legal counsel, subjected to forced labor, and physically abused during her detention.

The Applicants argued that these actions breached several human rights instruments, including the African Charter on Human and Peoples’ Rights and the Revised ECOWAS Treaty, seeking declarations, reparations, and a cessation of Nigeria’s unlawful conduct.

The Federal Republic of Nigeria refuted the claims, citing Okolie’s alleged connection to the Indigenous People of Biafra (IPOB), a proscribed group linked to terrorist activities. The Respondent justified her detention as a matter of national security.

In the Judgment delivered by Honourable Justice Ricardo Cláudio Monteiro Gonçalves, the Judge Rapporteur, the Court found that Okolie’s prolonged detention without judicial authorization contravened Article 7 of the African Charter, violating her right to a fair trial. The Court also found that her deprivation of liberty, absent legal justification, breached Article 6 of the African Charter. Therefore, it ordered the Federal Republic of Nigeria to compensate Glory Okolie by paying her ₦10 million for the violations she suffered. It also ordered the Federal Republic of Nigeria to cease the harassment, ensuring non-repetition of such acts.

Meanwhile, The Court dismissed the claims of the co-applicant NGOs for procedural reasons.

The three-member panel of the Court were Honourable Justice Ricardo Cláudio Monteiro Gonçalves (presiding judge and judge rapporteur), Honourable Justice Sengu Mohamed Koroma (panel member), and Honourable Justice Edward Amoako Asante (Panel member).

ECOWAS Court Orders ₦10 Million in Compensation in favour of Nigerian Student for Human Rights Violations

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NEC Moves To End Grid Collapse, Sets Up Committee On National Electrification

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12 hours ago

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November 21, 2024

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NEC Moves To End Grid Collapse, Sets Up Committee On National Electrification

*** Private sector distributed renewable energy generation vital to increasing electricity access – VP Shettima

*** States’ position on state police due next council meeting

By: Our Reporter

The National Economic Council (NEC) has resolved to reinforce implementation of the National Electrification Strategy in a bid to end the collapse of the nation’s power grid.

This is just as Vice President Kashim Shettima who is Chairman of NEC told members of the Council that access to energy is a fundamental right and not a privilege because electricity is the oxygen of economic growth.

Accordingly, the Council has constituted a committee on National Electrification to help address the challenges in the power sector.

The formation of the committee was among decisions taken by NEC at the end of its 146th meeting on Thursday chaired by Vice President Kashim Shettima at the Council Chambers of the Presidential Villa, Abuja.

The committee headed by Cross River State Governor, Bassey Otu, is to work towards deepening states’ engagements within the Electricity Reform Act 2023 and the National Electrification Strategy and Implementation Plan.

Following a presentation by the Managing Director of the Rural Electrification Agency (REA), NEC observed that Nigeria needs a reformed and diversified electricity system, noting that by empowering states, accessibility and affordability of electricity can be enabled, ensuring that all regions effectively meet their specific energy needs.

Members of the committee include Governors Dikko Radda of Katsina, Inuwa Yahaya of Gombe, Ademola Adeleke of Osun, Hope Uzodimma of Imo, and Caleb Mutfwang of Plateau.

Others are Ministers of Finance, Mr Wale Edun; Budget and Economic Planning, Sen. Atiku Bagudu; Power, Mr Adebayo Adelabu; Special Adviser to the President on NEC and Climate Change; Special Adviser to the President on Power; Managing Director, Rural Electrification Agency (REA), and Managing Director, Niger Delta Power Holding Company.

Earlier in his address, Vice President Shettima maintained that access to energy is a fundamental right and not a privilege because electricity is the oxygen of economic growth.

He outlined issues before the Council that require urgent attention to include energy infrastructure, human capital development, creative industries, fiscal strategy, industrial innovation, and long-term development planning, describing them as foundational to the transformation Nigeria needs.

VP Shettima explained that it is for this that experts and stakeholders from some of the critical sectors have been invited to share their insights and contributions.

He stated: “The past few months of collapses in our national power grid compel us to reinforce the pace with which we are adopting and implementing the National Electrification Strategy. Energy access is a fundamental right, not a privilege. It is the oxygen of economic growth.

“Our blueprints must, therefore, strive to expand access, empower rural communities, and drive productivity, especially for MSMEs. I hope that our discussions today will inspire solutions to light up homes, power businesses, and fuel Nigeria’s industrial future.

“Whatever path we agree upon, it is clear that a private-sector-led distributed renewable energy generation approach is essential to increasing electricity access for households and small enterprises alike”.

The Vice President also urged the Council to take Nigeria’s creative industry seriously, saying it presents an avenue to redefine the nation’s economic trajectory.

According to him, “new technologies have not only amplified the global appeal of our arts, crafts, and culture but also opened up revenue streams and job opportunities for Nigerians.

“Our music, films, art, and cultural heritage are not just global symbols of Nigeria’s soft power but also vital engines of economic growth. We cannot afford to relegate the promise of turning creativity into wealth, empowering our youth, and positioning Nigeria as a hub of innovation and cultural excellence,” he added.

Meanwhile, the position of states on state police will be ready by the next NEC meeting.

Deliberating on the updated submission on the establishment of state police, Council mandated states that were yet to make their submissions on the subject matter should comply within the next one week to enable NEC to come up with a unanimous position on state police at the next meeting.

Other highlights of the meeting include:

PRESENTATION BY THE ACCOUNTANT GENERAL OF THE FEDERATION ON ACCOUNT BALANCES UPDATE AS AT 20TH NOVEMBER, 2024

Excess Crude Account – $473,754.57

Stabilization Account – N33,324,135,076.39

Natural Resources Account – N26,847,747,874.93

PRESENTATION ON SPECIAL AGRO-INDUSTRIAL PROCESSING ZONES BY THE SAPZs NATIONAL PROGRAMME COORDINATOR, DR KABIR YUSUF

The programme is currently being implemented at varying stages in 8 States of the federation namely; Kano, Kaduna, Kwara, Oyo, Ogun, Imo, Cross River, and FCT, under phase 1 of the Special Agro-Industrial Processing Zones.

Under the second phase, a total of 24 States were visited by the selection team to assess their readiness for the programme. The implementation model is a government and private sector-led (SPV) arrangement hence, discussions are underway to partner with private developers & co-financiers on the project estimated to cost about $1 billion.

The SAPZ coordinating office is working out a multi-tranche financing arrangement to accommodate additional States over the next 3 years. It is structured in three tranches.

Prayers:

· Provision of intervention funds for each State’s ATC to boost production.

· Office of the VP to use its convening power in obtaining additional co-financing for the SAPZ phase 2 (SAPZ-2) States.

· Fast-tracking of the BADEA $300m multi-tranche financing for SAPZ-2 by the Federal Ministry of Finance.

Resolution:

Council urged states to key into the programme and noted that the SAPZ will be a game-changer if states give it the necessary support and consideration.

States to hold a special meeting with the Minister of Agriculture and the SAPZ management to address issues and requests made in the presentation by the SAPZ management.

PRESENTATION ON THE NEW NIGERIA SOVEREIGN INVESTMENT AUTHORITY (NSIA) GOVERNING COUNCIL

A presentation by the Minister of Finance requested NEC to ratify the nomination of persons to serve as chairman and members of the governing council of the Nigeria Sovereign Investment Authority (NSIA).

Members of the Council, when appointed, shall have the opportunity to raise questions of and give counsel to the Board and Management of the Authority.

Council Resolution:

Council commended the management of NSIA and recognised the importance of the fund towards investment in critical sectors of the economy.

Council consequently approved NSIA’s request to onboard First Abu Dhabi Bank (FAB) as an alternate custodian.

A presentation by the Executive Vice Chairman/CEO of the National Agency for Science and Engineering Infrastructure (NASENI) showed the agency’s latest innovations and strategic initiatives including products like a solar irrigation pump, electric vehicles, coal-based fertilizer, NASENI solar home systems, and smart devices.

States were urged to leverage NASENI’s tailored support for manufacturing, industrial development, and access to public sector markets, alongside infrastructure and policy benefits to enhance economic growth.

In its resolutions, Council directed NASENI to repair tractors and other agricultural machinery across the country and scale up the establishment of lithium battery factories in regions rich in raw materials.

NEC Moves To End Grid Collapse, Sets Up Committee On National Electrification

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