Buhari’ll sign 2017 Budget, Osinbajo’ll take it from there – Ita Enang

The Senior Special Assistant to President Muhammadu Buhari on National Assembly Matters, Mr Ita Enang has said that President Buhari will assent to the 2017 budget while the Acting President Yemi Osinbajo will take it up from there. Mr. Enang made the statement in an interview on Channels Television’s political programme on Wednesday.

According to him, “The 2017 budget will be transmitted to Mr president and the President will assent to the budget.“ “The President will assent to the budget, the acting President is in office and when the budget is transmitted, it will go through the processes and all those other questions will answer itself.” He ​also ​confirmed that the Presidency received the budget on Wednesday afternoon. Enang also said: “In respect to the budget, it was only this morning that the Minister of National Planning informed the council that the budget has been passed.

He has not sent to us individually, copies of the passed budget. “We now need to look at it against what we sent, and if there is any discrepancies, we will report back to the Minister of Budget and National Planning on harmonization.” Recall that controversy over who would be saddled with the responsibility of assenting to the budget had arisen following dissenting voices from different quarters that the Acting President Osinbajo may not be the one to sign the budget.

Recall also that the House of Representatives on May 11, passed the 2017 Budget of 7.441 trillion Naira. But, fielding questions from State House Correspondents earlier after the Federal Executive Council, FEC meeting at the Presidential Villa, Abuja, yesterday,  Minister of Information and Culture, Lai Mohammed also disclosed that ministers were studying the budget as passed by the National Assembly.

However,  the Office of the Acting President yesterday cleared the air over the assent of the 2017 budget affirming that it would be singed into law when and if the Acting President expresses satisfaction with the bill. Spokesman to the Acting President, Mr. Laolu Akande in a tweet late last night said “Just so we are clear: when the time comes, everything is set and he is satisfied, Ag. President Yemi Osinbajo will assent to the 2017 budget.”

Court Okays Suit Seeking Arrest, Sack Of Amaechi, Onu

The Federal High Court sitting in Abuja has granted an order of Mandamus seeking the arrest and sack of the Minister of Transportation, Rotimi Amaechi and Minister of Science and Technology, Ogbonnaya Onu, over allegations leveled against them by two Justices of the Supreme Court, Justices Inyang Okoro and Sylvester N. Ngwuta where the Justices accused the two of offering them bribe to influence court decisions. The application was brought by Human Rights Foundation International (HRFI)who also asked that the Court compel the Economic and Financial Crimes Commission (EFCC) and the State Security Service (SSS) to arrest and prosecute both ministers. Recall that Justice Ngwuta, in a letter dated October 18, which he forwarded to the then Chief Justice of Nigeria, CJN, Justice Mahmud Mohammed and the National Judicial Council, NJC, specifically fingered the Minister of Transport, Mr. Rotimi Amaechi and Minister of Technology, Dr. Ogbonnaya Onu, as those that approached him with financial bribe on behalf of the APC, asking him to rule in favour of them in the Ekiti, Rivers, Ebonyi election cases. He had also said that shortly after the Supreme Court affirmed the election of Governor Nyesom Wike of Rivers State, Amaechi also called him on phone and said “Oga is not happy”. However, Amaechi in a statement made available to Vanguard had reacted to the allegation by describing the embattled judge as a drowning man desperately shopping for anything to latch on. Amaechi had equally said that the man merely concocted the tissues of lies against him in order to divert the public attention from the weighty evidence of corruption against him by the DSS. Also, in defense of Technology Minister, Barrister Ode who was a former member of the defunct All Nigerians Peoples Party, ANPP which was chaired by Onu, in a statement in Abuja had stated that “The allegation of Justice Ngwuta in my considered opinion is short of the truth and further reveals the ranting of a drowning man who under survival instinct can hold on to anything whether it is helpful or not.” He said,  “As a former member, Board of Trustees of the defunct All Nigeria Peoples Party, ANPP, who had worked closely with Honorable Minister who was also a statutory member of the Board then, being the National Chairman of the ANPP then, I believe strongly that Dr. Onu would not do anything that’s capable of diminishing his hard-earned and long established integrity. Barr. Ode equally stated that “He (Onu) is one gentleman whose character and reputation, I can vouch for. In fact, it is on this note that the good people of Yala Local Government Area in Cross River State, where I come from, considered him worthy for a highly revered chieftaincy award-“Okumade 1 of Yala Nation”, meaning “a pace setter of Yala Nation.” However, in the relief sought under the Presiding Judge, Justice Ahmed Mohammed by the plaintiff, it raised the questions of “Whether or not the allegation made by Justices Inyang Okoro and Sylvester N. Ngwuta in connection with the criminal-like invasion of their houses by the DSS on allegation of corruption, which the matter is already in the public domain, should be investigated and those arrested be prosecuted by the third and fourth defendants…” among others. The matter was adjourned till the 15th of December for mention.

Selling Crude Oil Not Best World Practice - NNPC GMD

Dr Maikanti Baru, the Group Managing Director, Nigerian National Petroleum Corporation (NNPC), has said that selling of crude oil is not the best world practice.

Baru made this known at a Public Hearing on the Petroleum Industry Governance Bill (PIGB) on Wednesday in Abuja.

According to him, the practice around the world is for Nigerian Petroleum Company to enter into contracts with the Nigerian Petroleum Assets Management Company (NPAMC) to sell crude oil on behalf of the agency.

The News Agency of Nigeria (NAN) reports that the PIGB seeks to unbundle NNPC by creating more entities.

“The NNPC supports the creation of the Nigerian Petroleum Regulatory Commission (NPRC), the Nigerian Petroleum Assets Management Company (NPAMC) and the Nigerian Petroleum Company (NPC).”

He said that the creation of these entities would create ensure transparency in the petroleum sector.

He commended the Senate for the enormous work it had put in the development of the Bill.

“This largely reflects the aspirations of industries for the replacement of an effective institutional and regulatory framework that promotes growth and efficient operations.

“NNPC recognises the presentation of the governance and industrial framework as separate legislation isolated from fiscal and commercial framework that enables speedy consideration and provides ease of execution when eventually passed into law

As part of NNPC’s recommendation, Baru said that there should be more emphasis on transparent and efficient administration, creating lower overhead cost for petroleum companies.

“This is very important under undulating  oil and gas prices,” he noted.

The NNPC GMD noted that to enhance transparency in the proposed Nigeria Petroleum Company, which is being mulled as the successor company of the NNPC, it should be mandated to publish annually a detailed report on all petroleum revenue payments made to government.

“This should include all royalties, rentals, fees, Petroleum Profit tax, corporate income tax, other taxes, bonuses, profit oil/gas shares from each of the licences, leases and contracts,’’ he said.

Other proposed changes listed by the corporation include more emphasis on a low cost, transparent and efficient administration, creating lower overhead costs for petroleum companies, institutional linkages with government decisions related to renewable resources.

The list also included power generation, climate change policies and other policies affecting the petroleum industry through the roles of the Minister and the proposed National Petroleum Regulatory Commission (NPRC).

The NNPC is also seeking a better definition of the roles of the Minister of Environment in relation to the Minister of Petroleum and the NPRC.

It also wants increased institutional attention to the development and distribution of natural gas, clarity in Joint Venture (JV) and Production Sharing Contract, PSC ownership of assets including the handling and sale and disposal of available production.

The NNPC wants the new law to ensure proper delineation of the responsibilities of the proposed new entities including the enactment of transition provisions for effective management of assets.

It further seeks re-enforcement of exploration and production from the frontier basins; much more emphasis on measures that reduce corruption and increased transparency, among other items.

The NNPC however supports the creation of three entities as enshrined in the draft PIGIFB 2015 Bill.

These entities are the Nigerian Petroleum Regulatory Commission (NRC), as a regulatory entity for the entire petroleum industry (Upstream, midstream and downstream), the Nigerian Petroleum Assets Management Company (NPAMC)as a counterpart and administrator of production sharing agreements, and such other risk-based agreements as the government may decide.

The creation of the Nigerian Petroleum Company(NPC)is also being considered as a vertically integrated oil and gas company operating as a fully commercial entity across the value chain.

The value chain included includes the current Joint Venture Operations, Nigerian Petroleum Development Company, NPDC operations, Frontier Exploration and other upstream/service activities, refinery; Petrochemicals, downstream activities as well as sale and disposal of crude oil and products.

Comrade Hyginus Chika Onuegbu, Chairman PIB Committee of Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), said that “Nigeria had lost 200 billion dollars of investments due to its inability to legislate the proposed reforms in its oil and gas industry.

He, nonetheless, said that the bill would determine the future of the Nigerian oil and gas industry, as well as the Nigerian workers’.

“The bill also plans to change the ownership structure of the government establishments in the petroleum sector, including asset sales and eventual divestments.

“Clearly, the bill is intended to privatise as much as is practicable government interest in the petroleum sector. This, if not carefully handled, will lead to serious labour issues,” he said.

He, however, underscored the importance of transparency and accountability in the nation’s oil and gas sector.

Onuegbu said that the global best practice was to have a policy formulating body, government ministry or department, an independent regulatory body and a national oil company for commercial operations.

“The global best practice is that the minister and the Ministry of Petroleum should be concerned with broad policy framework and not with the day-to-day running of the industry while the regulator is allowed to carry out its regulatory functions with little or no interference.”

President Loses To AIT As Court Strikes Out Defamation Suit

The Federal High Court on Wednesday in Abuja struck out defamation suit filed by President Muhammadu Buhari against DAAR Communications, operators of the African Independent Television (AIT).

Justice John Tsoho held that the court was compelled to strike out the suit because it appeared abandoned.

According to him, no representations from the parties have been entered since the matter was assigned to the court.

“This is against the rules of court, all opportunities given for the plaintiff and the respondents to put life in the suit have failed. The suit is hereby struck out,’’ Tsoho said.

Buahari had filed the suit in 2015 challenging the alleged documentary transmitted by the station aimed at defaming his character in the eyes of the public.

The President averred that the video documentary aired by the television station was aimed at giving him away as a dictator and religious bigot.

He  also averred that the documentary was also shown on the state-owned Nigerian Television Authority (NTA).

The News Agency of Nigeria (NAN) reports that before the action, the APC national leadership had written to the two stations describing the video as fabricated and defamatory.

Subsequently, the presidential candidate of the APC, as he was then, was approached the court with the suit.

The DARR Communication is owned by a chieftain of the PDP, Chief Raymond Dokpesi.

MMM Membership Grows Despite Reps Order To Security Agents

Some Abuja residents on Thursday said that they have benefited immensely from the popular financial programme, MMM Nigeria Scheme, and have no intention of leaving the scheme anytime soon.
The Mavrodi Mondial Movement popularly known as MMM has gained popularity among Nigerians as the programme promises a monthly payment of 30 per cent interest on loans provided by participants.
This is against the backdrop of the House of Representatives order in November that operators of the scheme should be arrested to protect Nigerians from financial devastation.
The News Agency of Nigeria (NAN) reports that in spite of the order, MMM’s membership had continued to grow.
Some residents who spoke to NAN said that MMM was very beneficial to Nigerians.
Ebube osakwe, a civil servant told NAN that she doesn’t see the programme as a Ponzi scheme and believed it could help many Nigerians.
“When I heard about it, I was skeptical at first, but I decided to test the system by putting in N20,000 to see if I would get the money they claimed.
“To my surprise, a month later, I got my N20,000 with my 30 per cent interest and an extra bonus.
“I was amazed by the success so I put more money into the system and have benefitted from it.
“This programme has helped many Nigerians deal with this recession so I don’t see the wrong in it.”
Godwin Dickson, a mechanic said that the scheme had helped him with his finances, adding that it had assisted him immensely in paying his debts.
“I don’t care what anyone has to say about MMM because as far as I am concerned, it has saved my life.
“I have paid off my debts and I have been able to generate extra change to take care of my household.
“I owed someone a large sum of money and someone introduced me to MMM and loaned me N500,000 to put into the scheme.
“The money I got back was able to clear all my debts at once and I was able to finally breathe again.
“I am aware of the risks of this programme, but it is also a lifesaver and I will advise more Nigerians to get involved at least for now that it seems safe,” he said.
Joyce Okoh, an entrepreneur, said that she was certain the business would crash at a point, but she would take advantage of it while it lasts.
“I know that this programme has failed before in some countries and I admit it is a sort of Ponzi scheme but why should I complain when I am benefitting from it?
“MMM is bound to fail whether the government bans it or not, because the process is supported by new members funding the profits to be made by older members which will crash at some point.
“However, I have made a large sum of money from this programme and I am willing to continue reaping the benefits it is offering for now.
“I just have to ensure I don’t get greedy and invest my whole savings or sell my property like many people have done because when it crashes, people will become suicidal.
“I think the key thing here is to know your limit and know when to bow out of the programme,” she said. (NAN)

Champions League Top Scorers

Champions League top scorers after Tuesday’s matches:
7: Messi (Barcelona)
4: Cavani (Paris SG), Lewandowski (Bayern Munich), Mahrez (Leicester), Özil (Arsenal)
3: Agüero (Man City), Aubameyang (Dortmund), Dembele (Celtic), Kimmich (Bayern Munich), Mertens (Napoli), Milik (Napoli), Reus (Dortmund), Salvio (Benfica), Walcott (Arsenal)

Conte Wonders Why Moses Was Underestimated

Coach of Chelsea Antonio Conte says the qualities of Nigerian forward Victor Moses was glaring for him to see from the first day of their pre season training.
Moses moved from being sent out on loan in three consecutive seasons to becoming a regular under Conte, as a wing-back in the manager’s 3-4-3 system.
“I could see his potential from the first days of the summer training camp”, he told Italian sports daily Gazzetta dello Sport.
“Moses has important qualities, technique, physical strength and the ability to cover 70 metres of the pitch.
“I find it incredible that someone like him has been underestimated”, Conte added.
Moses has become a key man at Chelsea under Conte this season, helping the Blues to hit top spot in the Premier League at the weekend.