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Olayemi Cardoso, the governor of the Central Bank of Nigeria (CBN) says consultations are ongoing “at the highest levels” for the country to exit the “grey list” – an anti-money laundering watchlist of the Financial Action Task Force’s (FATF).
The development comes 24 hours after the Nigerian Financial Intelligence Unit (NFIU) announced that FATF had approved the country’s fourth progress report since Nigeria was placed under watch.
The FATF had included Nigeria and South Africa on its grey list on February 24, 2024.
Countries on the list are often subjected to increased monitoring and need to intensify efforts to tackle money laundering and terrorism financing, according to the task force.
The FATF said the inclusion of a jurisdiction to its grey list means that the country has committed to resolve identified strategic deficiencies within agreed timeframes swiftly.
The organisation is an intergovernmental policy-making body that seeks to combat money laundering and the financing of terrorism.
Speaking to journalists in Washington DC on Saturday, Cardoso, said removing Nigeria from the grey list has been critical in his engagement during the annual meetings of the International Monetary Fund (IMF) and the World Bank.
“I would like to emphasise that we are consulting at the highest levels to remove Nigeria from FAFT grey lists, a key topic in our recent engagement,” he said.
‘WE’VE ACHIEVED INCREASED TRANSPARENCY, IMPROVED FX SUPPLY’
Speaking on ongoing monetary policy efforts, Cardoso said since his team assumed office a year ago, there has been a focus on addressing inflation, restoring investor confidence in the financial markets, and stabilising the exchange rate.
He said the apex bank also focused on enhancing financial systems provision, fostering financial inclusion, and enhancing transparency “in our monetary policy decisions and communications”.
“We embarked upon bold and necessary reforms to return to the path of monetary policy orthodoxy, as well as remove observed distortions in the foreign exchange market,” the CBN governor said.
“Our efforts have yielded significant progress as volatility in the foreign exchange market has abated immeasurably, and remittances have also increased significantly.
“We have achieved increased transparency and improved overall supply in the foreign exchange market, leading to reduced arbitrage and speculative activities and eliminated the fund loading of foreign exchange demand.”
On October 8, the CBN reaffirmed its commitment to maintaining a stablefinancial system while ensuring the safety of depositors’ funds.
The bank also announced the introduction of an electronic foreign exchange matching system (EFEMS) to reduce speculative activities, eliminate market distortions and “give the CBN improved oversight capabilities to effectively regulate the market”.
The system is expected to be implemented on December 1.
The New Nigeria Peoples Party (NNPP) has won all 44 chairperson seats in the LGA election held in Kano state on Saturday.
Sani Malumfashi, chairman of the Kano Independent Electoral Commission (KANSIEC), announced the results at the state capital.
“We are pleased to announce that the NNPP has won all the chairmanship and councillorship seats across the 44 local government areas,” he said.
“The election was conducted in a transparent and orderly manner and we did not receive any reports of violence.”
The process leading to the local government election was fraught with litigations.
On October 22, a federal high court in Kano restrained Malumfashi from conducting the October 26 LG polls.
In his ruling, Simon Amobede, the presiding judge, said Malumfashi was “unqualified” to conduct the elections because “he is a card-carrying member of the New Nigeria Peoples Party (NNPP)”.
The case was filed by Aminu Tiga, a member of the All Progressives Congress (APC).
Tiga had told the court that Malumfashi; Kabir Zakirai, secretary of the commission; and other members of KANSIEC; were members of the NNPP and do not meet civil service grade requirements for their appointments.
On Friday, a Kano state high court delivered a counter ruling, ordering KANSIEC to proceed with the conduct of the local government poll.
Sunusi Ado-Ma’aji, the presiding judge, ruled that the constitution empowers KANSIEC to conduct and supervise elections in the LGAs of Kano state.
The judgment was delivered following an ex parte application filed by the commission.
Abba Yusuf, governor of Kano state, had said the election would be held despite the court ruling prohibiting the process.
“We have satisfied all the conditions laid down by the law and we have completed all necessary preparations for the conduct of the elections on Saturday. As such, the polls must take place as planned,” Yusuf said.
The governor said “enemies of the state” were plotting to “truncate this election”.
[PRESS RELEASE] Obi says, Prof Nwosu was an exceptional Electoral Umpire ready to die for Democracy
Admin![[PRESS RELEASE] Obi says, Prof Nwosu was an exceptional Electoral Umpire ready to die for Democracy](/media/k2/items/cache/1396ddd7ab0773c41d7e97bd21f29442_M.jpg)
The Labour Party leader and Presidential Candidate in the party in 2023 polls, Peter Obi, has described the late National Electoral Commission Chairman, Prof Humphrey Nwosu, as an exceptional Electoral Umpire who was ready to risk his life for democracy.
In a short tribute to the former Chairman of the National Electoral Commission, NEC, who passed on during the week, Obi said he was a principled academic who brought to bear in his job the principle he taught in the classroom as a political scientist.
In his message titled "In Prof Nwosu, A True Democrat Exits," Obi wrote in X handle, "I have just received the sad news of the death of the former Chairman of the National Electoral Commission, NEC, Prof Humphrey Nwosu.
"Prof Nwosu was a true Democrat, an outstanding academician whose love for democracy and its values was copiously demonstrated in the way and manner he carried out his responsibilities as an electoral umpire between 1989 to 1993.
"His courageous defense of democratic principles, even under a non-democratic government, put him out as a man who was ready even to sacrifice his life for the sake of democracy and good governance.
"For his pivotal role in holding and upholding the 1993 presidential elections, Prof Nwosu’s name will remain indelible in the history of Nigerian democracy. He stood for the truth In Nigeria for standing for the truth and the best tenets of democracy when it was delicate and even dangerous to do so.
"It’s, however, disheartening to note that what Prof Nwosu did when the nation’s electoral commission was not even legally independent and when billions of taxpayers' money were not deployed as it is today with an accompanying updated technology could not be repeated in contemporary times in a supposed full democratic system.
"As an academic, Prof Nwosu brought to bear all the principles he taught in the classroom as an erudite professor of Political Science, unlike these days when professors are procured to aid electoral malpractices, including announcing results of elections they did not verify.
"For the new Nigeria we desire, the country needs more of Professor Nwosu, who will risk their lives for democracy.
"I pray God to forgive his shortcomings while on earth, grant his soul eternal repose, and his family and all lovers of democracy who mourn him the gratitude to bear the huge loss.
"May God Almighty grant Nigeria the likes of Professor Humphrey Nwosu in her future elections.
A new Nigeria is indeed POssible"
Signed
Ibrahim Umar
POMR SPOKESMAN
About 42.3 million litres of imported Premium Motor Spirit, popularly called petrol, are expected in the country next week, oil marketers stated on Friday, urging local refiners to ramp up production.
Dealers said petrol imports would continue until the production of the commodity in the country was enough to meet domestic demand.
They insisted that the local production of refined products from modular refineries and the multi-billion dollar Dangote Petroleum Refinery was insufficient, stressing that this was why diesel and petrol importation had continued.
On September 3, 2024, the Nigerian Midstream and Downstream Petroleum Regulatory Authority disclosed that the Dangote refinery would supply 25 million litres of petrol to the Nigerian market daily starting from September.
It added that this would rise to 30 million litres from September. In a short statement, the NMDPRA said it met with NNPC to agree on local crude supply to the refinery.
“At the NMDPRA headquarters in Abuja, NNPC reached an agreement to commence crude oil sales and supply the Dangote refinery with local currency.
“The refinery is now poised to supply an initial 25 million litres of PMS into the domestic market this September and will subsequently increase this amount to 30 million litres daily from October 2024,” the NMDPRA stated on its X page at the time.
But oil marketers stated on Friday that the $25bn Lekki-based refinery was not producing up to that volume, which was why dealers had to import petrol to augment local production.
“Some of our consignments of PMS imports came into the country last week, and we expect the remaining ones to arrive by next week. About 32,000 metric tonnes of PMS will be arriving next week,” a major marketer who spoke in confidence due to lack of authorisation to speak on the subject, stated.
About 1322.76 litres of petrol weighs one metric tonne. This implies that the 32,000 metric tonnes being expected next week would mean 42.3m litres of imported petrol by the dealers.
It was gathered that two major marketers were jointly importing this volume of PMS, as other dealers had earlier brought in products into the country.
“The consignments are jointly owned and are being imported into the country by major marketers. This does not mean that we will not buy from the Dangote refinery. But the fact is that since the market has been deregulated, everyone is now competing.
“So, it is up to you to decide on where to get the product that will enable you to compete effectively. Nobody is disputing that. So, the importation of PMS and other products is not against the fair business practice,” the marketer stated.
On Monday, it was reported that no fewer than four vessels carrying petrol arrived at seaports along the nation’s borders between Friday, October 18, and Sunday, October 20, 2024.
The report cited a document obtained from the Nigerian Port Authority, revealing that about 123.4 million litres of PMS were berthed at two seaports to improve fuel supply nationwide.
The development confirmed an exclusive report by The PUNCH, which disclosed that oil dealers intended to import the commodity to supplement the supply from the $20bn Dangote Petroleum Refinery.
The dealers had stated that the supply from the Lekki-based plant was currently insufficient to meet domestic demand.
Also speaking on the issue on Friday, another dealer stated that a lot of marketers were gearing up to bring in more products, adding that some others who could not import refined products were already buying from the Dangote refinery.
“The market is free now. It is a deregulated market, so everybody can source their products from wherever is best for them. Also, our local refineries are not producing enough to meet domestic demand.
“That is why I laughed when it was revealed that an indeginous refiner went to court to sue marketers to stop importing products. That can’t work in a deregulated market. Everyone who can import now is currently doing so. Even NNPC is importing.
“The last consignment we got was from the imported PMS of NNPC, which we took about six days ago and which we finished selling before our own came in. Oil and refined petroleum products are the life-wire of the economy. If anything happens to them, every sector of the economy will be affected,” the marketer stated.
The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, Chief Ukadike Chinedu, earlier confirmed that though IPMAN members had yet to start importing PMS, the market had been liberalised and anyone with the capacity to import was free to do so.
[STATE HOUSE PRESS RELEASE] President Tinubu Commiserates With The NNPC Board And Families Of Victims Onboard The Helicopter In Port-Harcourt
Admin![[STATE HOUSE PRESS RELEASE] President Tinubu Commiserates With The NNPC Board And Families Of Victims Onboard The Helicopter In Port-Harcourt](/media/k2/items/cache/88786456113a2ac95e07a7e11ea48711_M.jpg)
President Bola Tinubu has directed an intensification of search and rescue for passengers of the ill-fated helicopter that crashed into the Atlantic near Bonny Finima on Thursday in Port-Harcourt.
The helicopter, operated by East Winds Aviation and registered as 5NBQG, was hired by NNPC Limited to ferry some contract staff to the NNPC facility FPSO—NUIMS ANTAN.
President Tinubu urges military officers involved in various operations in the zone to join the rescue mission and provide all necessary support to the Nigerian Safety Investigation Bureau (NSIB), the Nigerian Civil Aviation Authority, and other relevant agencies.
The President condoles with the Board and staff of Nigerian National Petroleum Company (NNPC) and the families of all those who were confirmed to have passed away in the accident.
President Tinubu fervently prays that the Almighty God will grant eternal rest to the three departed souls and comfort their families.
Bayo Onanuga
Special Adviser to the President
(Information & Strategy)
Former Nigerian President, Olusegun Obasanjo has decried the size of debt being owned by the country, years after he left office in 2007.
Obasanjo recalled he left the nation with about $70 billion, including a $45 billion reserve and $25 billion in a designated “excess crude” account.
The former President spoke on Thursday in an exclusive interview with Kayode Akintemi of News Central Television.
Obasanjo, who lamented the poor quality of leadership in the country, said his government met a debt overhang of close to $36 billion but reduced it to about $3.5 to $3.6 billion before leaving office in 2007.
His words: “I came in 1999 and met $3.7 billion in the reserve. And I have told you, we were spending $3.5 billion to service the debts. That’s what we had.
“By the time we left eight years later, with debt relief, when I came in, we had a debt overhang of close to $36 billion. By the time I left, with the debt relief and clearing what we had to clear, the quantum of debt that I left was about $3.5 to $3.6 billion from over or around $36 billion.
“At the same time, the reserve that was $3.7 billion when I came in went to $45 billion. At the same time, we had what we called “Excess crude”, which is what is in excess of what we budget and what we actually sell the crude. Normally, we are conservative in budgeting, we call it “Excess crude”. So, we had in it about $25 billion. When you add that to the reserve, we are talking about $70 billion.
“Now, the point is that I left in 2007. Today between 2007 and 2024, all that amount of money has gone; all of it. Not only that, but all the money they made all that period had gone. And today, we owe more than we owe when we came to government in 1999.”
The Senate, on Thursday, approved 15 per cent from the Consolidated Revenue Fund as source of funding for the newly created zonal development commissions by member-states.
The approval followed consideration and adoption of the report of the Senate Committee on Special Duties on the bills establishing the commissions.
Earlier, the lawmakers were divided over the source of funding for the newly created zonal development commissions.
The disagreement emerged during the clause-by-clause consideration of the South-South Development Commission Establishment Bill 2024, which serves as the structural template for other zonal commissions.
Central to the debate was the Senate Committee on Special Duties’ recommendation that 15 per cent of statutory allocations from member states be directed towards funding these commissions.
Several lawmakers, including Yahaya Abdullahi (PDP, Kebbi North), Wasiu Eshinlokun (APC, Lagos East), and Seriake Dickson (PDP, Bayelsa West), voiced concerns over the proposed funding model.
Abdullahi warned that the provision could lead to legal challenges from state governments, as no state would willingly allow its statutory allocation to be reduced.
“Mr. President, distinguished colleagues, the 15 per cent of statutory allocations of member states recommended for funding their zonal development commissions would be litigated against by some state governments,” Abdullahi said.
Seeking to clarify the matter, the Deputy President of the Senate, Barau Jibrin, quickly intervened.
He explained that the 15 per cent allocation would not involve a direct deduction from the states’ funds.
He said, “Mr President, distinguished colleagues, the 15 per cent of statutory allocation of member states, recommended for funding of zonal development commissions by the Federal Government, is not about deduction at all.
“What is recommended as contained in the report presented to us by the committee on special duties and being considered by the Senate now is that 15 per cent of statutory allocation of member states in a zonal development commission would, by way of calculation by the Federal Government, used to fund the commission from the Consolidated Revenue Fund.
“Each state has a monthly statutory allocation, 15 per cent of which, as contained in this report being considered, will be calculated by the Federal Government and removed from the Consolidated Revenue Fund for funding of their development commission.”
Despite Barau’s explanation, several senators remained unconvinced and expressed their desire to contribute to the debate.
However, the Senate President, Godswill Akpabio, stepped in, asserting that the provision was constitutionally sound.
“We don’t need to debate whether 15 per cent of statutory allocations from member states in a commission would be deducted,” Akpabio said, citing Section 162(4) of the 1999 Constitution, which grants the National Assembly the authority to appropriate funds from either the Consolidated Revenue Fund or the Federation Account.
“Fifteen per cent of the statutory allocation has been recommended by the Senate and, by extension, the National Assembly, for funding these zonal development commissions. Anyone who wishes to challenge that in court is free to do so,” he added.
Akpabio then called for a voice vote, and the majority voted in favour of the provision.
In his remarks following the passage of the consolidated bills, Akpabio expressed gratitude to the senators for their efforts in finalising the zonal development commissions.
He noted that these commissions would provide a foundation for the newly created Ministry of Regional Development.
The bills passed include the South-South Development Commission Establishment Bill 2024, the North West Development Commission Act (Amendment) Bill 2024, and the South-East Development Commission Act (Amendment) Bill 2024.
The South West Development Commission Establishment Bill 2024 and North Central Development Commission Establishment Bill 2024 were previously passed.
President Bola Tinubu yesterday restricted ministers, ministers of state, and heads of agencies of the Federal Government to a maximum of three vehicles in their official convoys, saying no additional vehicles would be assigned to them for movement.
This came as the Presidency explained late Wednesday night that Nigerians’ perception played a key role in the President’s decision to rejig his cabinet.
The President’s new directive was contained in his Special Adviser on Information and Strategy statement, Bayo Onanuga.
According to the statement, “the cost-cutting measure was announced today (yesterday) in a statement by the President.”
Recall that in January this year, President Tinubu took steps to reduce government expenditures by reducing his entourage on foreign trips from 50 to 20 officials and on local trips to 25 officials.
Similarly, he reduced the Vice President’s entourage to five officials on foreign trips and 15 for local trips.
In the directive issued yesterday, President Tinubu also ordered all ministers, ministers of state, and heads of agencies to have at most five security personnel attached to them.
The security team, according to him, will comprise four police officers and one Department of State Services, DSS, officer.
He said: “No additional security personnel will be assigned.”
The President also instructed the National Security Adviser, NSA, to engage with the military, paramilitary and security agencies to determine a suitable reduction in their vehicle and security personnel deployment.
“All affected officials are expected to comply with these new measures immediately, underscoring the urgency and seriousness of these changes,” the statement added.
Also, following the removal, appointment and redeployment of some members of the Federal Executive Council, NEC, on Wednesday, the Presidency has said the President’s decision was influenced by Nigerians’ perceptions.
This is even as indications emerged yesterday the reason the President retained some key cabinet members, despite multiple media speculations of their rumoured removal.
The President also yesterday wrote the Senate, seeking the screening and subsequent confirmation of appointments of seven ministerial nominees announced in Abuja on Wednesday.
On Wednesday, Tinubu reassigned 10 ministers to new portfolios, relieved five of their duties, and nominated seven new nominees for Senate confirmation.
The President also renamed the Ministry of Niger Delta Development as the Ministry of Regional Development, scrapped the Ministry of Sports Development, and merged the Ministries of Tourism and Arts and Culture, forming the Federal Ministry of Art, Culture, Tourism, and the Creative Economy.
Those dismissed include the Minister of Women Affairs, Uju Kennedy-Ohanenye; Minister of Tourism, Lola Ade-John; Minister of Education, Tahir Mamman; Minister of Youth Development, Dr Jamila Bio Ibrahim; and the Minister of State for Housing and Urban Development, Abdullahi Gwarzo.
How feedback shaped Tinubu’s cabinet reshuffle
Providing more details on the cabinet reshuffle in an interview on Arise TV on Wednesday night, Mr Onanuga, explained that the decision to remove the affected ministers was based on public perception and empirical data.
According to him, the Special Adviser to the President on Policy and Coordination, Hadiza Bala Usman, introduced a technological system that allowed Nigerians to assess the performance of the ministers.
He said: “It wasn’t done arbitrarily. Hadiza Bala Usman brought in technology, asking Nigerians to rate the ministers. So, the removal of these ministers was based on empirical facts, shaped by public perception.
“The scorecards were filled out by the people, and the President acted on those results.
“It wasn’t just about meeting the President’s expectations but also the public. A few weeks ago, during a cabinet meeting, the President urged the ministers to inform Nigerians of their accomplishments because, according to him, there is public perception that the government wasn’t performing.
“The government believed it was, but the ministers weren’t effect-ively communicating their work.’’
Onanuga further mentioned that in addition to dismissing the ministers, the administration was working to reduce the cost of governance.
FG’s expenditure will be reduced soon
“The President will soon announce measures to reduce government expenditure, starting with the ministers. I don’t want to pre-empt the details, but the cuts will be significant to demonstrate the government’s seriousness in reducing the cost of governance.
“The government is aware of what’s required to address the country’s challenges. It’s not about the size of the government, but about having many competent hands to drive its agenda.
“You will hear announcements soon about how the government plans to cut the cost of running its affairs,” the Presidential aide said.
Why Matawalle wasn’t sacked
He also clarified that allegations linking the Minister of State (Defence), Alhaji Bello Matawalle, to the spate of banditry in the North-West were untrue.
Onanuga said Matawalle, a former governor of Zamfara State, was not sacked because the office of the National Security Adviser, NSA, investigated allegations bordering on his ties to bandits and found them spurious.
He said the allegations against Matawalle were “mere fabrication” and politically motivated.
“As far as I know, most of those things are just mere allegations. In one of them, I got something like that and sent it to the NSA and asked: ‘Have you heard about this?” The president’s aide said.
Continuing, Onanuga said: ‘’The NSA said ‘No. We have probed a lot of those things; they are not true. People are just bringing out all kinds of fake things and allegations. That is why the man (Matawalle) is still in the cabinet.
“The president, I’m sure, has heard many stories about him. For him to be there shows that… like I have said, some of those things have been probed; they are not true.
“The NSA office has already investigated some of those allegations. They are mere fabrications.”
Why Tinubu retained Gbaja, Edun, Olubunmi-Ojo, others
Meanwhile, contrary to widespread media speculations a few weeks ago about the President removing 11 ministers and reshuffling the presidency’s top leadership, it was gathered that the changes began with the replacement of Tinubu’s Chief Security Officer, Adegboyega Fasasi.
Multiple sources told Vanguard that the reorganization, highly anticipated before Tinubu’s two-week holiday, retained several key officials previously rumoured for removal, including his Chief of Staff, Mr Femi Gbajabiamila; Minister of Budget and Planning Atiku Bagudu; Minister of Interior, Olubunmi Ojo; Minister of Defence, Badaru Abubakar; Minister of State, Defence, Bello Matawalle, and other ministers whose continued presence “reflects the President’s confidence in them.”
Also, key economic team members, including Finance Minister Wale Edun; Budget and Planning Minister, Atiku Bagudu; and Power Minister Adebayo Adelabu; retained their positions, following their scorecards.
Another source disclosed that the retention of Mr Gbajabiamila as Chief of Staff came, despite “intense speculation about his replacement.”
The source said: “Gbajabiamila has weathered recurring media attacks and once received public support from the President himself at a cabinet meeting where he reaffirmed his confidence in his Chief of Staff.
“His survival of numerous media trials is likely due to the sensitivity of his office and his experience as former speaker of the House of Representatives. The same speculation goes for Wale Edun, Bagudu and Adelabu.’’
Another Presidency source said: “The earlier speculation about Wale Edun’s replacement with the Tax Reform Committee Chairman, Taiwo Oyedele, was particularly unfounded, including the suggestion that the President planned to remove the Interior Minister who has got good appraisals everywhere and the biggest joke was the speculation that the President contemplated removing his Chief of Staff, except for those who do not know the premium the President places on Gbaja, let alone their longstanding ties.”
On why the president decided to retain them, the source said: “It was based on the President’s discretion.”
Asked whether there will be further cabinet reshuffle, another source said: “I don’t know but it appears everything has been done, except for ambassadorial and board positions.”
It was further gathered that a significant highlight of the rejig is the appointment of Mrs Bianca Odumegu-Ojukwu as Minister of State for Foreign Affairs.
“This appointment, seen as a strategic move towards national inclusion, has been widely praised as a gesture of reconciliation and recognition of the South-East in the Federal Government.
“As the widow of the late Biafran leader, Dim Chukwuemeka Odumegu-Ojukwu, her appointment signals the administration’s commitment to national unity and inclusive governance,” multiple sources told Vanguard.
Retaining Keyamo reflects Tinubu’s commitment to aviation growth — AON
Speaking on the President’s decision to retain Mr Festus Keyamo as Minister of Aviation and Aerospace Development, the Airline Operators of Nigeria, AON, yesterday, said it reflected Tinubu’s commitment to the growth and advancement of the aviation industry in Nigeria.
President of AON, Alhaji Abdulmunaf Sarina, in a statement, said Keyamo has demonstrated exceptional leadership, setting a new standard for the aviation sector.
Sarina stated that the minister’s efforts in ensuring compliance with international standards facilitated greater access to aircraft financing and leasing.
The statement read: “Since his initial appointment, Keyamo has demonstrated exceptional leadership, setting a new standard for the aviation sector.
“His relentless efforts and advocacy for policies that ensure ease of doing business have brought about significant positive changes. AON members are proud to affirm that, under his stewardship, we have never had it this good.
“His proactive engagements with the industry, his focus on safety, and his commitment to the success of both local and international airlines have restored confidence in the sector. He has the best interests of the nation and the aviation sector at heart.
“The reappointment of Keyamo stands as a testament to President Tinubu’s vision of excellence and progress for Nigeria. We believe every government is ultimately judged by the calibre of individuals appointed to critical positions.
“In Keyamo, the President has made an outstanding choice, ensuring that Nigeria’s aviation sector remains in capable and visionary hands.
“On behalf of all members of AON, we pledge our continued support for Keyamo as he leads us through this era of unprecedented growth and innovation in the aviation industry.
“We also commend President Tinubu for his remarkable foresight and wisdom in entrusting the future of Nigerian aviation to such an able leader. Together, we are confident that the skies of Nigeria will continue to soar higher, and the country’s aviation sector will remain a beacon of excellence on the African continent.”
Tinubu seeks Senate’s confirmation of 7 ministerial nominees
Meanwhile, President Tinubu has written the Senate, seeking the screening and subsequent confirmation of appointments of seven ministerial nominees.
The President’s request was contained in a letter addressed to the President of the Senate, Senator Godswill Akpabio, and read at plenary yesterday.
According to the letter, the ministerial nominees are Dr Nentawe Yilwatda, Minister of Humanitarian Affairs and Poverty Reduction; Muhammadu Maigari Dingyadi, Minister of Labour and Employment; and Bianca Odinaka Odumegu-Ojukwu, Minister of State, Foreign Affairs.
Others include Dr Jumoke Oduwole, Minister of Industry, Trade and Development; Idi Muktar Maiha, Minister of Livestock Development; Yusuf Ata, Minister of State, Housing; and Dr Suwaiba Said Ahmad, Minister of State, Education.
The President in the letter sought expeditious consideration of his request by the Senate.
The Senate President immediately referred the Presidential request to the committee of the whole for consideration.
Akpabio said: “The presidential request is referred to the Committee of the Whole for consideration very soon.”
It was, however, gathered that the Senate may, after getting the required documents on the nominees, commence their screening next Wednesday.
[STATE HOUSE PRESS RELEASE] President Tinubu Issues New Directives on Reduction in Cost Of Governance
Admin![[STATE HOUSE PRESS RELEASE] President Tinubu Issues New Directives on Reduction in Cost Of Governance](/media/k2/items/cache/65e21ec1661893e25f9c32576ba63c5d_S.jpg)
President Bola Tinubu has restricted Ministers, Ministers of State, and Heads of Agencies of the Federal Government to a maximum of three vehicles in their official convoys.
No additional vehicles will be assigned to them for movement.
The cost-cutting measure was announced today in a statement signed by the President.
In January this year, President Tinubu took significant steps to reduce government expenditure, by reducing his entourage on foreign trips from 50 to 20 officials. For local trips, he reduced it to 25 officials.
He similarly reduced the Vice President’s entourage to five officials on foreign trips and 15 for local trips.
In the directive issued today, President Tinubu also ordered all ministers, ministers of state, and heads of agencies to have at most five security personnel attached to them.
The security team will comprise four police officers and one Department of State Services (DSS) officer.
No additional security personnel will be assigned, he ordered.
President Tinubu instructed the National Security Adviser to engage with the Military, Paramilitary and Security Agencies to determine a suitable reduction in their vehicle and security personnel deployment.
All affected officials are expected to comply with these new measures immediately, underscoring the urgency and seriousness of these changes.
Bayo Onanuga
Special Adviser to the President
(Information & Strategy)
The Senate has received a request from President Bola Tinubu for the confirmation of the appointments of seven ministerial nominees announced on Wednesday.
President Tinubu’s request seeking expeditious consideration of the requests was contained in a letter addressed to Senate President Godswill Akpabio who read it at the commencement of the plenary on Thursday.
Tinubu urged the Senate to consider and confirm the seven nominees for appointment as ministers.
The ministerial nominees for confirmation include Nentawe Yilwatda (Humanitarian Affairs and Poverty Reduction), Muhammadu Dingyadi (Labour & Employment), Bianca Odumegwu-Ojukwu (State Foreign Affairs), and Jumoke Oduwole (Industry, Trade and Investment).
Others are Idi Mukhtar Maiha (Livestock Development), Yusuf Ata (State, Housing and Urban Development), and Suwaiba Ahmad (State Education).
Akpabio referred the nominees to the Committee of the Whole for further legislative action as soon as possible.
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The Special Adviser to the President on Information and Strategy, Bayo Onanuga, has stated that Nigerians’ perception played a key role in President Bola Tinubu’s decision to dismiss five ministers from his cabinet.
On Wednesday, Tinubu approved the reassignment of 10 ministers to new portfolios, relieved five of their duties, and nominated seven new individuals for Senate confirmation.
The President also renamed the Ministry of Niger Delta Development as the Ministry of Regional Development, scrapped the Ministry of Sports Development, and merged the Ministries of Tourism and Arts and Culture, forming the Federal Ministry of Art, Culture, Tourism, and the Creative Economy.
The ministers dismissed from their roles include the Minister of Women Affairs, Uju Kennedy-Ohanenye; Minister of Tourism, Lola Ade-John; Minister of Education, Tahir Mamman; Minister of Youth Development, Dr Jamila Bio Ibrahim; and the Minister of State for Housing and Urban Development, Abdullahi Gwarzo.
Providing more details on the cabinet reshuffle, Onanuga explained that the decision to remove these ministers was based on public perception and empirical data.
According to Onanuga, the Special Adviser to the President on Policy and Coordination, Hadiza Bala Usman, introduced a technological system that allowed Nigerians to assess the performance of the ministers.
“It wasn’t done arbitrarily. Hadiza Bala Usman brought in technology, asking Nigerians to rate the ministers. So, the removal of these ministers was based on empirical facts, shaped by the public’s perception. The scorecards were filled out by the people, and the President acted on those results,” Onanuga said in an interview on Wednesday night.
“It wasn’t just about meeting the President’s expectations but also the public’s. A few weeks ago, during a cabinet meeting, the President urged the ministers to inform Nigerians of their accomplishments, because, according to him, there was a public perception that the government wasn’t performing. The government believed it was, but the ministers weren’t effectively communicating their work,” he added.
Onanuga further mentioned that in addition to dismissing the ministers, the administration is working to reduce the cost of governance.
“The President will soon announce measures to reduce government expenditure, starting with the ministers. I don’t want to pre-empt the details, but the cuts will be significant to demonstrate the government’s seriousness in reducing the cost of governance.”
“The government is aware of what’s required to address the country’s challenges. It’s not about the size of the government, but about having many competent hands to drive its agenda. You will hear announcements soon about how the government plans to cut the cost of running its affairs,” he concluded.
President Bola Tinubu wielded his big stick on Wednesday, and like a surgeon in a theatre, he used his surgical knife, yanked off five ministers, redeployed 10 and appointed seven fresh nominees as ministers to replace the sacked ones as well as two others — Betta Edu who was initially suspended, and Simon Lalong who left his cabinet to join the Senate.
Tinubu, ex-Lagos governor, appointed 48 ministers in August 2023, three months after his inauguration. The Senate immediately screened and confirmed the ministers. One of the ministers, Betta Edu, was suspended in January while ex-Plateau State governor, Simon Lalong, resigned and moved to the upper legislative chamber.
There have been growing calls for the President to reshuffle his cabinet as many Nigerians are not impressed by the performance of some of the ministers, especially in the face of unprecedented inflation, excruciating economic situation and rising insecurity.
Despite the shake-up on Wednesday, 31 ministers were not affected; they were not sacked or redeployed.
They are:
| 1 | MINISTER OF POWER – ADEBAYO ADELABU |
| 2 | MINISTER OF DEFENCE – MOHAMMED BADARU |
| 3 | MINISTER OF STATE, DEFENCE – BELLO MATAWALLE |
| 4 | MINISTER OF HOUSING & URBAN DEVELOPMENT – AHMED M. DANGIWA |
| 5 | MINISTER OF BUDGET & ECONOMIC PLANNING – ATIKU BAGUDU |
| 6 | MINISTER OF WATER RESOURCES & SANITATION – JOSEPH UTSEV |
| 7 | MINISTER OF POLICE AFFAIRS – IBRAHIM GEIDAM |
| 8 | MINISTER OF STEEL DEVELOPMENT – SHUAIBU A. AUDU |
| 9 | MINISTER OF STATE, ENVIRONMENT – IZIAQ ADEKUNLE SALAKO |
| 10 | MINISTER OF FEDERAL CAPITAL TERRITORY (FCT) – NYESOM WIKE |
| 11 | MINISTER OF TRANSPORTATION – SA’IDU ALKALI |
| 12 | MINISTER OF STATE (GAS) PETROLEUM RESOURCES – EKPERIPE EKPO |
| 13 | MINISTER OF ENVIRONMENT – BALARABE ABBAS LAWAL |
| 14 | MINISTER OF AGRICULTURE AND FOOD SECURITY – ABUBAKAR KYARI |
| 15 | MINISTER OF STATE, AGRICULTURE AND FOOD SECURITY – ALIYU SABI ABDULLAHI |
| 16 | MINISTER OF INTERIOR – OLUBUNMI TUNJI-OJO |
| 17 | MINISTER OF FOREIGN AFFAIRS – YUSUF M. TUGGAR |
| 18 | COORDINATING MINISTER OF HEALTH AND SOCIAL WELFARE – ALI PATE |
| 19 | MINISTER OF AVIATION AND AEROSPACE DEVELOPMENT – FESTUS KEYAMO |
| 20 | MINISTER OF WORKS – DAVID UMAHI |
| 21 | MINISTER OF STATE (OIL) PETROLEUM RESOURCES – HEINEKEN LOKPOBIRI |
| 22 | MINISTER OF INNOVATION, SCIENCE AND TECHNOLOGY – UCHE NNAJI |
| 23 | MINISTER OF SOLID MINERALS DEVELOPMENT – DELE ALAKE |
| 24 | MINISTER OF INFORMATION AND NATIONAL ORIENTATION – MUHAMMED IDRIS |
| 25 | ATTORNEY GENERAL OF THE FEDERATION AND MINISTER OF JUSTICE – LATEEF FAGBEMI |
| 26 | MINISTER OF NIGER DELTA AFFAIRS – ABUBAKAR MOMOH |
| 27 | MINISTER OF STATE, LABOUR AND EMPLOYMENT– NKIRUKA ONYEJEOCHA |
| 28 | MINISTER OF SPECIAL DUTIES AND INTER-GOVERNMENTAL AFFAIRS – ZEPHANIAH JISALO |
| 29 | MINISTER OF COMMUNICATIONS, INNOVATION AND DIGITAL ECONOMY – BOSUN TIJANI |
| 30 | MINISTER OF FINANCE AND COORDINATING MINISTER OF THE ECONOMY – WALE EDUN |
| 31 | MINISTER OF MARINE AND BLUE ECONOMY – ADEGBOYEGA OYETOLA |
The Dangote Petroleum Refinery has begun supplying Premium Motor Spirit (PMS), commonly known as petrol, directly to some oil marketers, bypassing the Nigerian National Petroleum Company Limited (NNPC).
Reports indicate that more marketers are seeking to purchase PMS directly from the refinery, while others continue importing the product, with hundreds of millions of liters of imported petrol expected to arrive in Nigeria in the coming weeks.
Earlier, The PUNCH reported that at least four vessels carrying imported PMS had docked at Nigerian ports between October 18 and October 20, with around 123.4 million liters of PMS unloaded at two seaports to help stabilize nationwide fuel supply.
This move by marketers comes in addition to the $20 billion Dangote refinery’s output, providing further support to the market.
Marketers have now begun lifting PMS directly from the Dangote plant in Lekki, Lagos, signaling a significant change in Nigeria’s fuel supply chain.
According to a senior refinery official, this direct purchase arrangement operates on a willing-buyer, willing-seller basis, allowing oil marketers to bypass third-party suppliers and engage directly with the refinery.
“Marketers are already coming to the refinery to lift PMS directly, and agreements have been made with some marketers. If the price wasn’t favorable, they wouldn’t be coming to us,” the official said, indicating that Dangote’s pricing is competitive enough to attract interest.
“Some of the trucks you saw there today were from marketers purchasing the product directly from Dangote, without recourse to NNPC. So the direct sale has started,” another source told The PUNCH.
Officials also revealed that the refinery is dedicating around 53% of its crude oil supply to PMS production due to high demand for petrol in Nigeria and other countries.
The proportion of crude used for PMS may change if demand for other products grows, but for now, petrol remains the primary focus.
“This could be reviewed in future if the demand for other finished products increases more than the demand for petrol, but right now about 53 per cent of our crude is used for petrol production, while other products account for the remaining percentage,” the official stated.
When asked if marketers had started the direct purchase of petrol from Dangote without recourse to NNPC, one of the notable major marketers in the country replied in the affirmative.
“Yes, everyone is in the process. This was advised that it would happen soon and is a normal business transaction,” the source stated.
This direct sale initiative follows earlier claims that the NNPC would be the sole off-taker of PMS from the Dangote refinery starting September 15.
However, a recent announcement from the Technical Subcommittee on Domestic Sale of Crude Oil in Local Currency, headed by Finance Minister Wale Edun, confirmed that marketers can now purchase PMS directly from local refineries, fostering competition and improving market efficiency.
Although some Independent Petroleum Marketers Association of Nigeria (IPMAN) officials, led by Vice President Hammed Fashola, are still in discussions about logistics and modalities for lifting PMS from Dangote, refinery officials confirmed that direct sales to certain marketers have already commenced.
Meanwhile, the refinery has dismissed claims that it sold PMS to NNPC at N898 per liter when sales began in mid-September, labeling such reports as misleading.
The refinery maintains that the official naira-for-crude committee will eventually announce the product’s price, but as of October 22, no such announcement has been made.
The federal executive council (FEC) has approved N740 billion for the construction of the Kano-Abuja road project.
The approval was given on Wednesday during the weekly FEC meeting presided over by President Bola Tinubu at the State House in Abuja.
David Umahi, minister of works, who briefed State House correspondents after the meeting, said the government is working on managing the extensive backlog of infrastructure projects.
According to Umahi, the Abuja-Kano road, previously slated for a tax credit arrangement, “will now be procured without such a provision, with the 162-kilometer Berger section already approved for N740 billion”.
The minister also announced that the Shagamu-Benin road is undergoing critical rehabilitation, while procurement processes are being finalised for its full reconstruction using reinforced concrete pavement.
He highlighted other projects undergoing review, including the commencement of construction on the Sokoto-Badagry road, with the Sokoto section to be flagged off imminently.
Umahi also said works on the Oyo-Ogbomosho road, a project stalled for 18 years, will resume, and the Makurdi-Katsina-Ala road will undergo significant repairs.
“FEC also tackled the inherited debt profile of N1.6 trillion tied to 2,604 projects, with a total contract value of N13 trillion,” Umahi said.
To manage the backlog, the minister said the ministry of works has initiated a phased approach to project completion based on available funding.
Umahi said examples of projects in the category are the phasing of the Biu-Kangiwa-Kamba-Kaya Niger Republic road in Kebbi state, the Yola-Hong-Mubi road in Adamawa state, and the Kachako-Dambazua road in Kano state.
On July 29, the FEC approved N1.4 trillion for some road projects across the country.
‘30% ADVANCE PAYMENT TO CONTRACTORS’
Umahi said the council approved advanced payment mechanisms to combat inflation and rising costs driven by fluctuating exchange rates and petroleum prices.
“And finally, we presented a memo to FEC that where there is proof of funds, there is available funds, the Procurement Act allows MDAs to pay a maximum of 30 percent advance payments. And let me emphasise that this advanced payment. When you read the law, it say may pay,” Umahi said.
“And so when people are giving contracts and they don’t mobilise, and they said, I’ve not paid mobilisation, it is not legally binding, because the word says may pay. And so some people turn it (to) shall pay. So no, it’s may pay.
“So where we have funds, and they will have a valuable fund beyond this 30% so what we are, you know, we requested from FEC is approved, that we first pay 30% which is the Procurement Act, and not more, and then when the contractor has started work, and to the satisfaction of the Ministry of works, we should be allowed to pay additional funds.
“Yes, the law allows us to pay in terms of you know, materials on site. But we are asking beyond that, what is the essence of this? Is to mitigate a lot of fluctuation and inflation, because we have a lot of you know, indices that affect the ministry of works like the petroleum you know it affects it.”
The minister also said the dollar exchange rate affected negotiations, adding that the ministry is “doing everything to manage the resources within the available funds so that we mitigate inflation”.
Year-to-date, the naira has depreciated by 59.79 percent in the official window, declining from N1,035.12 per dollar on January 3, to N1,654.09/$ on October 23.
In the parallel market, the naira has depreciated by 40.65 percent, from N1,230/$ to N1,730 per dollar, within the same period.