News

Reps Pass For Second Reading Bill Seeking Adequate Funding Of Mineral Exploration Through PPP

Published

8 hours ago

November 20, 2024

By Gloria Ikibah

The House of Representatives has passed for second reading a bill for an Act to ensure adequate funding for mineral resources exploration and extraction through public-private partnership.

The bill sponsored by Rep. Lanre Okunola, member representing Surulere II Federal Constituency of Lagos State, is titled: “A Bill for an Act to Assure Adequate Funding for Mineral Resources Exploration and Extraction through Public Private Partnership (PPP) and for Related Matters (HB. 289).

in his lead debate on the general principles of the bill, Rep. Okunola described the proposed legislation as a framework designed to transform Nigeria’s mining sector through enhanced funding, strategic public-private collaboration, and adherence to best international practices in mineral resource exploration and extraction.

He said: “The bill aims to ensure that our mining sector reaches its full potential, creating jobs, fostering economic growth, and strengthening our country’s self-sufficiency in mineral resources.

“This bill, when passed into law, will establish a Mining Public-Private Partnership Programme, a framework that brings private sector capital, expertise, and efficiency into our mineral resource industry.

“The main objective of this bill is to secure adequate funding for the exploration and extraction of Nigeria’s abundant mineral resources through partnerships between the public and private sectors. This approach will enable us to reduce our dependence on oil and diversify our economy while ensuring that our mining sector is driven by both local and international investments”.

Section 4 of the bill proposes the programme’s broad scope, including leveraging global resources, expertise, and diplomatic relationships to attract investors who will help fully explore and extract minerals across Nigeria.

“It emphasises sustainable and ethical mining practices by including specific criteria for PPP partners, such as contributions to the Sustainable Development Goals, corporate social responsibility, and environmental considerations. Additionally, the bill mandates that partners demonstrate the capacity to undertake environmentally friendly operations and prioritise site remediation post-extraction,” Okunola added.

Section 5 of the bill outlines extensive powers vested in the Mining Public-Private Partnership Programme coordinator, including the ability to oversee the programme, formulate policies, and ensure efficient execution.

The bill also made provision for the establishment of a Technical Management and Advisory Council which shall “Comprise experts from diverse fields, such as law, geology, mining engineering, banking, architects and civil engineering, to support the programme.

“TMAC will conduct essential activities such as annual mapping of mining areas, determining necessary funding levels, and ensuring post-mining land rehabilitation”, it added.

Section 6 specifies budgetary and funding provisions, requiring the Programme Coordinator to allocate funds to cover insurance, compensation, and community impact expenses.

According to Rep. Okunola, it ensures the financial stability of the MPPP and guarantees that any environmental or social impacts are adequately managed and compensated.

Sections 7 to 10 provide mechanisms for oversight, regulatory direction, and dispute resolution.

By way of oversight, the MPPP coordinator is expected to submit an annual report to the President, which includes audited accounts and an overview of the programme’s achievements and challenges.

This clause also grants the Minister of Mines “The power to issue directives with presidential approval, ensuring flexibility and alignment with national interests. In cases of unresolved disputes, the bill calls for mediation and arbitration under the Arbitration and Mediation Act, thereby ensuring fair and timely resolutions.”

Rep. Okunola, further highlighted the benefits of the bill to include economic growth and job creation; environmental sustainability; revenue generation and global competitiveness.

News

FG Commends Ghana for Rebuilding Nigerian High Commission Property

Published

12 minutes ago

November 21, 2024

Gloria Ikibah

By Gloria Ikibah

The Federal Government of Nigeria has commended the Republic of Ghana for successfully rebuilding and formally handing over property belonging to the Nigerian High Commission in Accra.

The handover ceremony, which took place on Wednesday, November 20, 2024, marked a significant milestone in the relationship between the two West African nations.

In a statement signed by the Acting Spokesperson, Kimiebi Imomotimi Ebienfa, the Ministry noted that the gesture reflects “the spirit of cooperation and mutual respect that defines the relationship between the Republic of Nigeria and Ghana.”

Naijablitznews.com reports that in 2020, a block of four-bedroom flats, was demolished in a controversial incident that sparked strong condemnation from the Nigerian government.

Following extensive diplomatic engagements, Ghana pledged to reconstruct the building, reaffirming its commitment to the long-standing bilateral ties between the countries.

Speaking during the handover ceremony in Accra, Ghana’s Minister of Foreign Affairs and Regional Integration, Shirley Ayorkor Botchwey, described the project as a testament to Ghana’s dedication to fostering mutual respect and cooperation with Nigeria.

“We deeply value our relationship with Nigeria, and this effort demonstrates our commitment to resolving disputes amicably and strengthening our ties,” she said.

The keys to the reconstructed building were received on behalf of the Nigerian government by Ambassador Chimezie Ogu, Director of the Foreign Service Academy, Lagos, who represented Nigeria’s Minister of Foreign Affairs.

“This occasion is a moment of great significance and demonstrates the power of diplomacy.

“The Nigerian government appreciates the efforts of the Ghanaian authorities in addressing this matter with integrity and ensuring the restoration of this important property. It is a gesture that will not be forgotten,” Ambassador Ogu remarked

The Ministry of Foreign Affairs in Abuja lauded the Ghanaian government for its efforts, describing the reconstruction and handover as a “commendable development” and a “symbol of Ghana’s commitment to strengthening ties between both nations.”

The demolition of the property in 2020 had initially strained relations between the two countries, with Nigerian authorities expressing outrage over the incident. However, through sustained dialogue and diplomacy, both nations were able to reach a resolution, demonstrating the strength of their historical and strategic partnership.

Observers have hailed the handover as a positive step toward deepening regional collaboration and ensuring peaceful resolution of disputes. Analysts also see the move as a model for other nations in handling similar diplomatic challenges.

The reconstructed building, located in a prime area of Accra, will once again serve as part of the Nigerian High Commission’s facilities, supporting the mission’s operations and housing some of its personnel.

As the ceremony concluded, officials from both nations expressed optimism about future collaborations. “This is a victory for diplomacy and mutual understanding,” Ambassador Ogu stated, adding that the two nations must continue to work together for the prosperity of the region.

The symbolic gesture is expected to strengthen Nigeria-Ghana relations, which have been built on shared cultural, economic, and political values over decades. Both governments reiterated their commitment to fostering peace, security, and development in the West African sub-region.

News

I am done – Chidimma Adetshina quits pageantry

Published

1 hour ago

November 21, 2024

Kayode Sanni-Arewa

Miss Universe runner-up, Chidimma Adetshina, has announced her decision to quit pageantry.

Speaking during a recent interview with Silverbird TV, Adetshina said pageantry has been a traumatic experience for her.

She said she’s quitting for personal reasons and relocating to Nigeria from her estranged country, South Africa.

“Finishing in the top 2 [at the Miss Universe competition] is still a shocker for me… Honestly, I am done. Pageantry was a real traumatic experience for me,” she said.

“People still don’t understand how I felt. There were times when I almost quit during the Miss Universe contest. I’m really done with pageantry. I want to focus on myself and establish who I am. And forward my education as well.”

After finishing as 1st runner-up at the Miss Universe competition, Adetshina was named Miss Universe Africa and Oceania.

She won Miss Nigeria after withdrawing from the Miss South Africa contest after she attracted scrutiny over her nationality.