News

Minister Uzoka-Anite Says Concession Be Given To Cement Manufacturers

Published

6 months ago

May 22, 2024

By Gloria Ikibah

The Minister of Industry, Trade and Investment, Doris Uzoka-Anite, has said gas concession given to electricity companies should be extended to cement manufacturers as a means of addressing the hike in the product.

The Minister stated at the continued investigative hearing organised the House of Representatives Joint Committee on Solid Minerals, Industry, Commerce and Special Duties, to probe the arbitrary increment of Cement prices on Tuesday in Abuja.

Represented by the Permanent Secretary, Amb. Nura Rimi, she said: “The cement manufacturers should be accorded ‘the gas to light price’ as enjoyed by electricity distributors”.

She noted that a recent meeting with the Minister of Works, Engr. David Umahi and major cement manufacturing companies, recommended same.

“There is a need for friendly gas pricing. The meeting recommended the gas to power concession given to the electricity companies should also be enjoyed by the cement companies,” she added.

Uzoka-Anite identified some of the challenges facing cement manufacturers to include cost of gas, high import duty on spare parts, road network, high foreign exchange, and smuggling of cement to neighbouring nations;

She said the cement manufacturers and the government noted that the current high price of cement is abnormal in some locations nationwide and it was unanimously agreed that cement retail prices should not cost more than N7,000 to N8,000 per 50kg bag depending on the location.

She further revealed that government advised cement manufacturers to set up a price monitoring mechanism to ensure compliance, and manufacturers have willingly accepted to do so and to sanction any of her distributors or retailers found wanting.

The Minister further noted that the country is self-sufficient in cement manufacturing with major players like Dangote industries Limited, BUA Group, and Lafarge Holcin, and that the Ministry was deliberating on how the Cement companies that stopped constructions can be brought on board, hear their challenges and find a way of bringing them back in the sector.

The members of the committee were not satisfied with the minister’s submissions, as the Committee Chairman, Rep. Gaza Gbewfi wondered why cement manufacturers were complaining about roads, when it is their activities that is largely responsible for the bad roads.

He noted that it was also a corporate responsibility by the cement companies to ensure the maintenance of the road, especially as it should be part of their their corporate social responsibility.

Other members also wondered why Forex was an issue as most of their materials were sourced locally.

Gbewfi in his ruling directed the Ministry to make available its minute with the cement manufacturers, a comprehensive report of all pioneer status issued to all the cement companies from Inception and list of the incentives available to them.

News

Core Public Servants hail Tinubu for appointing thoroughbred Procurement officer, Adedokun as BPP DG

Published

3 hours ago

November 15, 2024

Austin Ojomah

A group under the aegis of Core Public Servants, CPS hail President Bola Tinubu for appointing Dr Adebowale Adedokun, a thoroughbred Procurement officer as the Director General of Bureau of Public Procurement, BPP.

CPS in a congratulatory letter signed by Kudirat Akindero to Adedokun lauded President Tinubu for following due process and picking the most qualified to run the affairs of the soecialised agency.

In the letter, the ADSC said:

“Congratulations to Dr. Adebowale Adedokun, PhD (MCIPS, CMILT), on his appointment as the Director-General/Chief Executive Officer of the Bureau of Public Procurement (BPP).

“This significant achievement reflects his extensive expertise and unwavering dedication to advancing public procurement in Nigeria.

“With over 20 years of robust experience in public service, Dr. Adedokun has made substantial contributions to procurement reform.

“His distinguished academic background includes a doctorate in Procurement and Supply Chain Management, complemented by four master’s degrees in Procurement, Finance, Technology, and Transportation Management.

” This diverse educational foundation equips him with a comprehensive understanding of the complexities inherent in procurement processes.

“In his career, Dr. Adedokun has held pivotal roles, including serving as a National Consultant for the United Nations Development Programme (UNDP) on public procurement reforms.

“He represents Nigeria in the International Research Study on Public Procurement (IRSPP) and serves as a World Bank Resource Person on Sustainable Procurement. His commitment to capacity building is evident in his training of over 4,000 federal and state government procurement professionals nationwide.

” Additionally, he has been instrumental as the focal point officer for the UN Women Project aimed at empowering women in procurement in Nigeria and as the Project Coordinator/Procurement Node for the SPESSE – World Bank Project.

“Dr. Adedokun’s professional affiliations are extensive, including membership in the Chartered Institute of Procurement & Supply (CIPS), UK; Chartered Membership in the Chartered Institute of Logistics & Transport (CILT); Fellowship in the Institute of Strategic Management Nigeria (ISMN); Fellowship in the Institute of Management Consultants (ICMC), Nigeria; membership in the Nigerian Institute of Chartered Arbitrators (ACArb); Fellowship in the Nigeria Institute of Training & Development (NITAD); membership in the Nigeria Institute of Management (NIM); and membership in the Association of Certified Fraud Examiners (ACFE).

In recognition of his consistent contributions to reform, Dr. Adedokun was honored with a Certificate of Special Recognition by USAID’s Nigerian Reforms Project in July 2009.

As he assumes the role of Director-General of the BPP, Dr. Adedokun’s extensive knowledge and experience are anticipated to significantly contribute to the agency’s strategic repositioning.

” His leadership is expected to advance efficiency, transparency, and accountability within Nigeria’s public procurement system.

Once again, congratulations to Dr. Adebowale Adedokun on this well-deserved appointment.

News

Brain Drain, Infrastructure, Resource Allocation Challenges Of Health Sector – Reps

Published

4 hours ago

November 15, 2024

Gloria Ikibah

By Gloria Ikibah

The House of Representatives has highlighted the detrimental impact of the mass migration of health workers from Nigeria, describing it as a major challenge to the country’s healthcare system.

The Chairman, House Committee on Health Institutions, Rep. Amos Magaji, stated this during a public hearing on 16 bills aimed at establishing various health institutions, on Thursday in Abuja.

Rep. Magaji underscored the need for better distribution of healthcare facilities, particularly in rural areas, to address population growth and healthcare gaps.

He noted, “Recently, there has been an enormous migration of doctors, nurses, and other health workers in search of ‘greener pastures,’ leaving Nigeria’s health sector severely understaffed. To improve the sector, we must invest in human resources, medical intelligence, and the administrative appointment of capable persons based on merit.”

The Chairman also brought to light the infrastructural deficiencies in healthcare institutions across the country, citing inadequate funding, lack of maintenance, and insufficient equipment as recurring issues.

The Minister of Health, Prof. Mohammed Ali Pate, represented by Dr. Jimoh Olawale Salahudeen, in his submission warned against the duplication of health institutions, and stated that such efforts would strain the already scarce resources.

He explained, “Existing Federal Teaching Hospitals and Medical Centers in Nigeria, including those in the North West, already provide cardiovascular care and related services. Establishing a new institute would add financial burden without addressing the core issues.”

Pate also acknowledged the migration of health workers and the need for a stronger workforce to handle emerging health challenges.

“The Federal Ministry of Health supports the establishment of new institutions but insists on considering geographical spread, population density, and disease burden in proposed locations,” he added.

The hearing emphasised the need for balanced development in the healthcare sector, adequate funding for existing institutions, and policies to retain health professionals in Nigeria.

News

Access Bank (UK) Limited to Acquire AfrAsia Bank Limited

Published

4 hours ago

November 14, 2024

Gloria Ikibah

By Gloria Ikibah

Access Holdings PLC has announced that its subsidiary, The Access Bank UK Limited (“Access UK”), has signed a binding agreement to acquire a majority stake in AfrAsia Bank Limited, the third-largest bank in Mauritius by total assets.

Mauritius, known for its strong financial sector, which contributes 13.4 per cent to its GDP, offers Access UK a strategic base to grow its personal and corporate banking services.

This was contained in a statement by its Company Secretary, Sunday Ekwochi, made available to Naijablitznews.com on Thursday.

According to Ekwochi, the acquisition will also position Mauritius as a hub for Access Bank’s trade finance operations, enhancing its ability to manage cross-border transactions across Africa and internationally.

AfrAsia Bank, as of June 30, 2024, reported total assets of over $5.7 billion and a net profit after tax of $152.4 million, underlining its solid financial position.

**Key statements on the acquisition:**

– Managing Director/CEO of Access Bank Plc, Roosevelt Ogbonna, speaking on the acquisition said: “This acquisition is a crucial step in our African growth strategy, strengthening our position as a top Pan-African financial institution. Mauritius’ role as a financial hub aligns with our vision to unlock opportunities that drive trade, support businesses, and promote economic inclusion across the region.”

Also Managing Director of Access Bank UK, Jamie Simmonds, stated: “AfrAsia Bank’s strong balance sheet and established brand in Mauritius give us a solid platform for sustainable growth. This deal supports our strategy to diversify earnings and provide clients with seamless access to global markets.”

Access Bank UK aims to promote sustainable growth, deliver innovative financial solutions, and support trade between Africa and the world.

The acquisition process will be finalized in the coming months, with updates provided as needed.