Television Nigerian

•Photos: State House

The Vice-President, Prof. Yemi Osinbajo, has said the leather products industry will generate more than $1bn by 2025.

Osinbajo said it would also create over 700,000 jobs for Nigerians.

He spoke on Tuesday at the inauguration and sensitisation workshop on the National Leather and Leather Products Policy Implementation Plan, in Abuja, according to a statement signed by Adetayo Otuyemi and Maryam Zakari of the Ministry of Science and Technology.

The statement said, “The Vice-President of the Federal Republic of Nigeria, Prof. Yemi Osinbajo, said that the leather products industry will generate over $1bn by the year 2025 and create employment for over 700,000 people.”

“Prof. Osinbajo said that the leather products value chain will afford Nigeria over 70 per cent increase in foreign exchange earnings in a few years from now.”

He said the implementation of the leather products policy was holistic, adding that it would provide a more sustainable infrastructure development plan and guaranteed access to credit facilities for business people.

“The Federal Ministry of Science and Technology is supporting this important initiative through offering leadership in the transformation of our economy from a resource-based to a knowledge-and-innovation-driven one,” the Minister of Science and Technology, Dr Ogbonnaya Onu, was quoted as saying.

He said the policy would be effective in helping the country exploit its natural resources, earn and conserve foreign exchange, and create jobs.

The minister called on key stakeholders to join forces in boosting the leather industry.

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President of the Senate, Ahmad Lawan

President of the Senate, Ahmad Lawan, has said that the upper chamber will on Wednesday (today) consider the Federal Government’s N895.84bn supplementary budget.

Lawan stated this on Tuesday during plenary after the senate received the report of the Committee on Appropriation on the Supplementary Appropriation Bill, 2021.

The Chairman of the Appropriation Committee, Senator Jibrin Barau, had last week pleaded with the upper chamber to allow the joint committees of the Senate and House of Representatives come up with a harmonised report on the supplementary appropriations bill to facilitate its eventual presentation on today.

Jibrin, in keeping with his request for time extension, finally laid the report on the supplementary Appropriation Bill, 2021, before the upper chamber during plenary on Tuesday.

The President, Major General Muhammadu Buhari (retd.), had penultimate week, transmitted the Supplementary Appropriation Bill to the National Assembly for consideration and approval.

He had explained that the proposed amount would be used to fund the COVID-19 vaccine programme, fund health related expenditures for treatment of additional 50,000 patients under the Nigeria Comprehensive AIDS Program in states.

He had also said the part of the fund would be used to procure additional equipment captured in this year’s capital expenditure on defence and security to tackle prevalent security challenges across the country.

the African Development Bank Group has appointed Mr Lamin Barrow as the director-general of its Nigeria office.

According to a statement issued by the bank on Tuesday, before his appointment, Barrow was Acting Senior Director, Nigeria Country Office, in the Regional Development, Integration & Business Development Vice Presidency.

Commenting on the appointment, President, AfDB, Dr Akinwumi Adesina, said, “Mr Lamin Barrow is a seasoned professional, with a proven track record in strategic management, country dialogue, portfolio management, negotiations and building partnerships.

“The Nigeria Country Office is strategic for the bank as it manages a large country portfolio and operations with State governments and the private sector.

“Lamin’s extensive managerial experience, knowledge in operations and excellent diplomatic skills in government relations at the highest levels will help to deepen our operations and engagements with the government and partners in Nigeria.”

On his part, Barrow said he was grateful for the appointment.

The statement added since Barrow joined the bank, he had served as Senior Financial Analyst, Infrastructure Department; Principal Country Programme Officer, Rwanda Country Office; and Resident Representative in Ethiopia where he oversaw a portfolio of $1.2bn.

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Members of the Lagos chapter of the Nigerian Institute of Public Relations have elected Mrs Comfort Nwankwo as the new chairman of the chapter.

According to a statement issued by the institute, the election was held during the 32nd Annual General Meeting of the chapter, with Nwanko emerging as the chairman and Mr Oladapo Soneye emerging as the vice chairman for a tenure of two years.

In her acceptance speech, Nwankwo thanked all those who voted for her and promised to deliver on all her campaign promises.

She stated she would draw on her wealth of experience and knack for service in different walks of life to create the right visibility and partnership for the chapter.

She also stressed the need for cooperation and synergy among the chapter’s members in order to maintain the flagship status of the Lagos NIPR.

Other newly elected executive council members inaugurated by the President and Chairman of Council, NIPR, Mallam Muhktar Sirajo, included General Secretary, Dr Ahmadu Binta; Assistant Secretary, Mr Quadri Adewale; Treasurer; Mrs Modinat Olowoeshin; Internal Auditor, Mr Olumuyiwa Ojelabi; Financial Secretary, Mr Nyinongo Nyitar.

Others were Mr Samuel Adeyemi, public relations executive; Mr Bassey Nta, ex-officio; Mr Adeola Harry, ex-officio; and Mrs Oluwatoyin Adeseun-Nwosu, ex-officio.

At the strategic discourse held at the same venue, Commissioner for Information in Lagos, Mr Gbenga Omotosho, who represented the Governor of Lagos, said truth was the right tool that had helped the Lagos State Government to build trust among residents.

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FRC Chairman, Victor Muruako

The Fiscal Responsibility Commission says it has caused over N2tn to be remitted into Consolidated Revenue Account federation account since inception in 2007.

The chairman of the commission, Victor Muruako

stated this when he appeared before the Senate Committee on Finance for the public hearing of the bill meant to repeal and re-enact the Fiscal Responsibility Act.

The legislation, sponsored by Adamawa senator, Aisha Dahiru, seeks to curb financial fraud and wastages within Ministries, Departments and Agencies to ensure more effective and efficient delivery of public services.

The bill would also provide a better legal framework to back the operations of the commission, which she said had been limited.

Muruako stressed the need for the commission to be strengthened in all ramifications and its responsibilities, powers and functions properly streamlined.

He also said the move to repeal the Act would ultimately improve the commission’s funding and capacity to increase the generation of independent revenue into the CRF of the Federal Government.

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Minister of Mines and Steel Development, Olamilekan Adegbite

The Minister of Mines and Steel Development, Olamilekan Adegbite, has said Nigeria is losing huge revenue as well as value in the mining sector due to the fact that solid minerals were mined and exported in their raw form.

He noted that the raw materials were subsequently refined and imported into the country and sold at exorbitant prices.

He said this during a TVC News live interview monitored in Abuja on Tuesday.

He said, “Nigeria loses a lot of value not just in terms of the money realisable but also in terms of jobs we export with our raw ores.”

He cited an example of gold, which he said was mined in Nigeria and refined elsewhere.

“When we mine gold in Nigeria, for instance, we take it in the dull form to Dubai.

“The same quantum of gold is manipulated with skills into jewellery and all that, and we go back to buy the same quantum of gold.”

He added that the ministry was making efforts to curb the loss and boost the mining sector.

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President, Lagos Chamber of Commerce and Industry, Toki Mabogunje

The Lagos Chamber of Commerce and Industry has urged the government to make deliberate efforts towards making the business environment conducive for MSMEs and large corporations.

LCCI president, Mrs Toki Mabogunje, at a quarterly press briefing in Lagos on Tuesday, acknowledged government’s efforts in assisting businesses to recover from the COVID-19 pandemic but added more could still be done.

Mabogunje said insecurity, high fuel cost and forex liquidity were the drivers of inflation in the economy, all of which had reduced investors’ confidence, despite stronger oil prices and exit from recession.

She said, “Insecurity in the northern and middle belt of the country and its impact on agriculture activities, high cost of logistics on the back of domestic  energy prices, and cost of  agricultural inputs, lingering   liquidity concern in the foreign exchange market and the pass-through effect of exchange rate on imported raw materials and finished items have allowed for inflation to remain elevated  has created serious implications for various economic agents including households, businesses, and investors.”

She added the right policy and regulatory framework were required to create an enabling investment environment for the advancement of the Nigerian economy and the good of all investors and economic players.

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NNPC GMD, Mele Kyari

The Nigerian National Petroleum Corporation on Tuesday said refined petroleum products would be exported from Nigeria to other countries in the next two years.

Nigeria currently imports refined petroleum products such as petrol, kerosene, diesel, etc, while the NNPC has been the sole importer of petrol into the country for more than three years.

This came as the Vice President, Prof. Yemi Osinbajo, also announced on Tuesday that the presidency would give timely consideration to the Petroleum Industry Bill that was recently passed by the National Assembly.

Osinbajo and Kyari spoke during an oil and gas event in Abuja. The vice president assured stakeholders that the PIB would receive the necessary urgency it required.

Speaking through the Minister of State for Petroleum Resources, Chief Timipre Sylva, Osinbajo said, “As you are aware, just last week the National Assembly passed the long awaited PIB.

“This unprecedented feat has been adjudged as a watershed moment for our nation. Let me assure you that the bill when transmitted to the presidency for assent will receive necessary and timely consideration.”

On moves to export refined petroleum products from Nigeria, Kyari said NNPC had developed initiatives around refinery rehabilitation, was focusing on it and would deliver on it.

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