News
HoR to hold Hearing on Bill to Regulate Corporate Social Responsibility
By Kayode Sanni-Arewa
The House of Representatives announces a public hearing on a proposed legislation titled “A Bill to Regulate Corporate Social Responsibility and Related Matters” (HB. 243), sponsored by Rep. Olumide Osoba (APC, Ogun).
This public engagement will be chaired by Rep. Lilian Orogbu (LP, Anambra), Chairperson of the House Committee on Corporate Social Responsibility, and declared open by Hon. Abbas Tajudeen, PhD, Speaker of the House of Representatives.
The public hearing is scheduled to convene with details as follows:
*Date:* Tuesday, June 25, 2024
*Time:* 10:00 a.m.
*Venue:* House of Representatives’ New Building, Conference Room 236, National Assembly Complex, Abuja.
Expressing his views on the importance of this legislation, Sponsor of the bill, Rep. Olumide Osoba, stated: “This bill is a critical step towards ensuring that businesses in Nigeria are held accountable for their social and environmental impacts. It aims to promote ethical business practices and encourage companies to contribute positively to the communities in which they operate.”
Rep. Orogbu further emphasised the significance of this public hearing, stating, “This bill represents a crucial step towards ensuring that businesses in Nigeria are not only profitable but also contribute positively to the communities in which they operate. It is essential that we regulate corporate social responsibility activities to promote sustainable development and responsible business practices.”
The bill seeks to establish a regulatory framework for activities on corporate social responsibility in Nigeria, ensuring that businesses operate in a manner that not only upholds societal well-being but also fosters sustainability and responsibility in their operations.
Stakeholders, interested parties, and the public at large are invited to partake in this pivotal public hearing and contribute their invaluable perspectives to the discourse on this bill.
*Signed:*
*Rep. Akin Rotimi, Jr.*
House Spokesman / Chairman, House Committee on Media and Public Affairs
News
Tears As Man Takes Own Life Over Tinubu’s Govt Hardship
By Mario Deepromoter
Sad development in Marika village, Kiyawa Local Government, Jigawa, where a 40-year-old man, Jibrin Adamu, committed suicide by hanging himself.
According to eyewitnesses, Adamu’s lifeless body was discovered in a classroom at Miftahul Khairat Islamiyya and Primary School Gurdiba on Thursday.
Police spokesperson DSP Lawan Shiisu Adam confirmed the incident, stating that preliminary investigations revealed Adamu had struggled with mental health issues.
“Police received a report on Thursday that at about 1830hrs, a tragic incident was reported at the Command headquarters that one Jibrin Adamu ‘m’ age 40yrs of Jigawar Maroka village, Kiyawa LGA has committed suicide by hanging himself over the ceiling at Islamiyya school,” the Police spokesperson told Daily Post.
The Jigawa State Commissioner of Police, CP AT Abdullahi, has instructed officers to conduct a thorough investigation into the incident.
News
Just in: Dangote Petrol Now Available at N765.99 Per Litre
By Mario Deepromoter
11plc, Total Energies, AA Rano, and other marketers have begun lifting Dangote Petrol through Nigerian National Company (NNPC) Trading Limited for N765.99 to retail outlets nationwide.
Findings showed some petroleum marketers who were able to complete their payment process on the NNPC trading payment portal commenced the lifting of petrol earlier this week under the existing agreement between marketers and the refinery.
Tunji Oyebanji, managing director, 11Plc confirmed to BusinessDay on Thursday evening that some marketers have started lifting the products at N765.99 from Dangote Refinery through NNPC who remain the sole off-taker of product.
“We were among the first marketers to complete the payment on the NNPC portal. We have no direct arrangement with the refinery,” Oyebanji said.
It was gathered that NNPC Retail, 11plc, Total Energies, A.A Rano are among the marketers that have picked up products from the refinery.
He added, “We don’t know the contractual financial arrangement between NNPC and the refinery but what I can confirm is we are buying at N765.99 from NNPC to lift Dangote petrol”.
Efforts to get the Independent Petroleum Marketers Association of Nigeria (IPMAN) to confirm if its members have picked up products at the Dangote Refinery proved abortive at the time of writing this report.
See also Nigeria’s Petrol Landing Cost Revealed
Adedapo Segun, executive vice-president, downstream at NNPC said marketers cannot purchase petrol directly from the refinery because the product is still sold at a subsidised rate.
“That is the same thing happening with Dangote. I said earlier that Dangote is a company and it is going to sell at market price,” he told Journalists.
According to Segun, “The market value of PMS is still higher than what N766 or N765 or N799 that NNPC is selling.
“The situation has not changed there. So, NNPC’s off-taking is only because the others would not buy at the price Dangote will be willing to sell, which is reasonable.
“As soon as the price allows for it, you will see the marketers go to Dangote and buy.”
News
Our Country Is Bankrupt – Governor Obaseki
By Ojomah Austin.
Gov. Godwin Obaseki of Edo state has stated that “Nigeria is technically bankrupt” during an interview on Channels Television’s Politics, while elaborating on his concerns over the country’s financial health.
While criticising the Federal Government for being stuck in the past, the governor emphasized the urgent need for restructuring to facilitate progress.
“You restructure your affairs so that you can reorganize and be able to meet your obligations. But Nigeria is still behaving as if they have money like it used to.
“Nigeria has been in trouble for a while. We don’t have enough to cover our expenditures and we are not reducing our expenditures and we are not earning more. The federal government does not have the capacity anymore to manage the economy”.
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