News

Reps Leadership Visits Dangote Refinery On Familiarization Tour

Published

4 months ago

July 20, 2024

Gloria Ikibah

…as Speaker Abbas express desire of in-depth understanding of the sector

By Gloria Ikibah

The leadership of the House of Representatives led by Speaker Abbas Tajudeen, has paid a familiarization tour to the Dangote refinery and Petrochemicals Company in Lagos.

The familiarization visit, which was on the invitation of the Dangote Group, was initially planned to jointly take place with the leadership of the Senate on June 3, 2024. However, the leadership of the National Assembly had to put the visit on hold to meet with the leadership of the organized labour on the strike it embarked on at the time.

The Senate leadership has since embarked on the visit separately, while the House leadership slated July 20 for its own.

The House leadership arrived in Lagos on Friday ahead of the familiarization visit.

Speaking when the leadership was conducted round the facility by the President of the Dangote Group, Alhaji Aliko Dangote on Saturday, Speaker Abbas noted that the tour was part of the continuous efforts to understand and support key industries within our nation’s economy.

Abbas said that the purpose of the visit was to provide the House Leadership and the relevant oil and gas committees with an in-depth understanding of the nature, scope, and activities of the Dangote Refinery.

According to him, this initiative aligns with the legislative agenda of the 10th House, which aims to support the President’s Renewed Hope agenda, focusing on economic transformation, growth, and development.

“This familiarisation tour underscores our commitment to engaging with and supporting critical sectors that drive our economy. Also, this visit provides valuable insights that will inform our legislative measures and decisions.

“We remain dedicated to fostering an environment conducive to economic growth and development, ensuring that our legislative actions align with the broader goals of national progress as articulated by President Bola Ahmed Tinubu, GCFR.

“We are acutely aware of the challenges facing the private sector in Nigeria, including regulatory hurdles, infrastructure deficits, and access to finance. The House of Representatives is committed to addressing these issues and improving the ease of doing business in our country.

“We are working diligently to create a more business-friendly environment through legislative reforms that streamline processes, reduce bureaucracy, and enhance transparency. Our goal is to make Nigeria an attractive destination for both local and international investors.

“In line with the renewed agenda of President Bola Ahmed Tinubu, the National Assembly and the House of Representatives are committed to creating an enabling environment for the private sector to thrive. We understand that a robust partnership between the government and private enterprises like Dangote Group is essential for sustainable development. To this end, we are dedicated to enacting policies that support business growth, reduce bureaucratic hurdles, and promote transparency and accountability”, Speaker Abbas stated.

While recognizing the importance of engaging with industry leaders to understand their challenges and collaboratively develop solutions, the Speaker urged Dangote to maintain an open line of communication with the National Assembly and the House leadership.

He said that constructive dialogue will ensure that the national assembly can address any operational challenges swiftly and foster an environment conducive to optimal economic growth.

“Together, we can drive Nigeria forward, harnessing the full potential of our resources and talents. I look forward to continued collaboration and a prosperous future for our great nation.

“Dangote refinery “symbolizes not only the strength and potential of Nigerian industry but also the dedication and vision of one of our most esteemed business leaders, Mr. Aliko Dangote.

“As we tour this state-of-the-art facility, it is impossible not to appreciate the significant contributions that Dangote Group is making to our economy. From job creation to the reduction of our import dependence, the refinery stands as a testament to the transformative impact that strategic investments can have on our nation. It provides thousands of jobs, promotes local content, and drives technological advancements within our borders. Such efforts are crucial in our collective pursuit of economic stability and growth.

“The economic significance of the private sector globally cannot be overstated. Across the world, private enterprises are the engines of economic growth, driving innovation, increasing productivity, and fostering competitive markets. They play a critical role in wealth creation, poverty reduction, and the overall improvement of living standards.

“By investing in infrastructure, technology, and human capital, the private sector propels nations toward sustainable development and economic resilience. It is through a vibrant private sector that economies can diversify, innovate, and compete on a global scale.

“However, the journey does not end here. There is always more we can do together to bolster our economy. I encourage Dangote Group to continue exploring avenues to complement government initiatives. By investing in renewable energy, enhancing corporate social responsibility programs, and fostering innovation through research and development, Dangote can further solidify its role as a key player in our economic landscape”, he stated.

The Speaker was in company of the Deputy Speaker, Rep. Benjamin Okezie Kalu; House Leader, Rep. Julius Ihonvbere; Chief Whip, Rep. Usman Bello Kumo; Deputy House Leader, Rep. Abdullahi Ibrahim Halims; Deputy Whip, Rep. Adewumi Onanuga; Minority Leader, Rep. Kingsley Chinda; Minority Whip, Rep. Ali Isa; Deputy Minority Leader, Rep. Aliyu Sani Madaki, and Deputy Minority Whip, Rep. George Ozodinobi.

Also in the delegation were the Chairmen of relevant oil and gas committees and their deputies.

News

Just in: Plateau Govt Approves N70k Minimum Wage for Civil Servants

Published

17 minutes ago

November 14, 2024

Kayode Sanni-Arewa

By Kayode Sanni-Arewa

In line with discussions reached after consultation with relevant stakeholders, the Plateau State Government has approved immediate implementation of the N70, 000 minimum wage for the workforce in Plateau State.

The cheering news is contained in a Press Statement signed by the Head of Civil Service in the State, Stephen Pam Gadong.

Full text of the statement reads in part:

Following the Agreement of the Committee on Consequential Adjustment on Salaries on 13th, November, 2024, the Executive Governor of Plateau State, His Excellency Barr. Caleb Mutfwang, has approved the immediate implementation of the N70,000 minimum wage for workers in the state.

The Implementation is a demonstration of the Governor’s commitment to prioritizing the wellbeing of the workforce in acknowledgement of their invaluableble role in driving the State’s developmental goals.

As the new wage policy is administered, Civil Servants are encouraged to embrace this gesture by recommitting to their duties with renewed dedication and zeal in order to foster a culture of productivity and excellence in service in the State.

News

Before final liquidation, NDIC set to auction Heritage bank properties

Published

2 hours ago

November 14, 2024

Naijablitznews

In a bid to ensure timely declaration of liquidation dividends to uninsured depositors of the failed Heritage Bank (In-Liquidation), the Nigeria Deposit Insurance Corporation (NDIC) has commenced the process of auctioning the landed properties and chattels of the defunct bank.

According to the Corporation, this exercise is in line with its statutory powers as the Liquidator of failed banks under section 62 (1)(d) of the NDIC Act, 2023, noting that; “This is another follow-up action sequel to the disposal of physical assets and chattels belonging to the defunct bank at its leased locations nationwide”.

This was contained in a statement signed by the Director, Communication and Public Affairs Department, Bashir A.

Therefore, the auction of the landed assets shall be by competitive bidding in sealed bids scheduled to take place at the six (6) selected locations of the Corporation across the country, for the affected 36 branches of the failed bank beginning from Wednesday 4th December 2024.
“Buyers who wish to participate in the auction are expected to follow laid down guidelines purposely aimed at ensuring transparency, fair competition, equity, and accountability to enable recovery of commensurate values from the exercise. This is critical for the payment of liquidation dividends to eligible claimants.

The Corporation shall give preference to financial institutions who are willing to buy at the highest auctioned value to allow for the continuation of provision of banking services to the Nigerian public at the designated locations”, adding; “This is desirable towards bolstering financial inclusion as envisaged by the financial system regulatory authorities.

“However, Corporate bodies and Private individuals willing to compete are equally eligible to compete in the process without prejudice, the auction shall be open and competitive to all bidders.

Furthermore, bidders will be allowed to inspect the properties and chattels across all locations one week before the date of disposal.”

Importantly too, the statement said; “All interested parties are to make available 10% bid security of the value of their sealed bids to be dropped in the bid box provided at the specific centre out of the six locations of the Corporation as contained in the published advertisements.

“All interested bidders are advised to submit their bids only at the designated NDIC offices covering their choices amongst Abuja, Lagos, Bauchi, Kano, Enugu, and Port Harcourt.”

Meanwhile, the Corporation has vowed that there would be no hiding place for debtors of the defunct Heritage Bank whose financial obligation portfolio is in the region of over N700 billion.

News

Naira slumps in parallel market

Published

3 hours ago

November 14, 2024

Naijablitznews

The Naira experienced a slight depreciation yesterday, slipping to N1,740 per dollar in the parallel market compared to its previous rate of N1,735 per dollar on Tuesday.

According to data from FMDQ, the indicative exchange rate for the Nigerian Autonomous Foreign Exchange Market (NAFEM) strengthened, rising to N1,645.4 per dollar from Tuesday’s rate of N1,689.88 per dollar. This marks an appreciation of N44.48 for the Naira.

The market also saw a significant increase in dollar trading activity, with turnover climbing by 122.5 percent to reach $236.84 million, up from $106.44 million the previous day.

As a result, the gap between the parallel market and the NAFEM exchange rate widened, now standing at N94.6 per dollar, up from N45.12 per dollar recorded on Tuesday.