By Bashir Rabe Mani

Alhaji Muhammadu Munir-Jaafaru, Chairman, Board of Trustees, Kaduna Chamber of Commerce, Industry, Mines and Agriculture, has expressed concern over the desolate state of the Kaduna Trade Fair Complex.

Munir-Jaafaru, who is also the Patron of the chamber, spoke on Saturday in Kaduna, at the Investiture of its new President and the inauguration of its new Council.

“The complex needs a lot of rehabilitation. I am not happy as it now looks desolate and does not speak well of the chamber.

“It should be given an urgent facelift to make it more befitting and restore its lost glory,” Munir-Jaafaru, who is equally the Madakin Zazzau said.

The BOT chairman also advised that the complex be put to an all-year round usage instead of only for the annual trade fair.

“There should be routine activities to make it busier, which in the long run will bolster the socio-economic development of the state and the country in general,” he added.

Munir-Jaafaru further urged the new leadership of the chamber to live by their affirmation, saying, “we should keep to our promises and God is our witness.”

He commended the peaceful election as well as the successful conduct of the 2023 Annual General Meeting of November 25.

The new President of the chamber, Mr Ishaya Idi, promised to advance the collective cause of the chamber.

He said, “We have accepted to serve the chamber to the best of our ability.

“I would like to, therefore, remind our members that to serve, will require us to avail our individual time, treasure and talent.”

The State Commissioner for Business, Innovation and Technology, Mrs Patience Fakai, promised to partner with the new leadership to boost socio-economic activities in the state.

Represented by the ministry’s Permanent Secretary, Alhaji Yusuf Auchan, Fakai said, “I have no doubt that the new president will lead the chamber to greatness.”

NAN reports that the oath of office was administered on the new leaders by a legal practitioner, Mr Edoh Baba-Abicheh. (NAN)

Edited by Philip Yatai

By Lucy Ogalue

The National Salaries, Incomes and Wages Commission (NSIWC), says its circulars are issued after consultations with the Federal Government and major stakeholders.

The Chairman of the Commission, Mr Ekpo Nta, clarified this when he played host to the Executive Committee of the Nigeria Union of Pensioners (All Sectoral Units/Parastatals) Nationwide in Abuja.

The chairman of the committee, Sir Samuel Adewale, led the team on the visit.

According to Nta, the circulars have provisions for anyone to seek clarification, and no agency is authorised to unilaterally amend them without its written consent.

“Usually, where there is a cogent reason, the Commission issues a crossed-reference Clarification Circular, after due process for record purposes.

“The Commission, being the Secretariat of the Tripartite Committee of the National Minimum Wage, will ensure seamless preparations for considering a new National Minimum Wage.

“It also prepares the accompanying pension review in 2024 as provided by the National Minimum Wage Act 2019 and Section 173 (3) of the Constitution of the Federal Republic of Nigeria 1999 (as amended), respectively.

While responding to a pensioner’s observation that the Constitution provides for a “corresponding increase in pensions,” Nta said the word “corresponding” was not used in Sect. 173 (3).

He clarified that increased allowances for serving officers could not be interpreted as salary increases.

The NSIWC’s boss informed his guests that the Commission had in May forwarded its report on the harmonisation of pensions to the government for consideration.

He said this was done after synthesising inputs from relevant stakeholders, including pension unions, and the availability of funds.

Nta said the Commission regularly followed this up as it had a bearing on considering pension increases in 2024.

Responding to their complaints of non-receipt of the payment of recently approved palliatives, he said the relevant organs of government were addressing the issues.

He said the Commission would look into the issues raised by the committee based on the documents the Union had submitted.

He advised the union to negotiate with friendly health maintenance organisations to provide affordable health insurance coverage for its members after explaining how they could benefit from such services.

Nta then urged the senior citizens to avail themselves of having scheduled free online Zoom meetings with him in the future.

Given their ages, he said this was better than embarking on expensive and hazardous trips from all over the country.

Earlier, the Chairman of the Committee on Pension NUP-ASU/Parastatals, Comrade Gabriel Oladele, urged the Chairman to intervene on the issues of wrong computations of their consequential adjustments.

After decades of enjoying the same, Oladele also called for redress for the alleged unreasonable deductions from their pensions. (NAN)

Edited by Chidinma Agu/Ese E. Eniola Williams

By Olaide Ayinde

Gov. Bala Mohammed of Bauchi has presented N300 billion 2024 Appropriation Bill to the state House of Assembly for approval.

Presenting the proposals, tagged: “Budget of consolidation and renew of focus” on Thursday in Bauchi, Mohammed assured members of the house that the budget would be fully implemented.

According to him, N178.8 billion Capital Expenditure of the budget represents 59.6 per cent, while N121.3 billion for Recurrent Expenditure, represents 40.4 per cent.

Mohammed said that the budget was 48.2 per cent higher than the budget presented to the house in 2023.

He explained that the increase was attributable to increased revenue arising from the subsidy removal and the upward inflationary trend associated with the depreciating local currency.

This, he said implied an increase in prices upon which the government’s projects and programmes would be implemented.

“A total sum of N121.3 billion is earmarked for the Recurrent Expenditure with personnel cost of N48.2 billion, overhead cost of N73.1 billion.

“It is projected that the state would realise capital receipt in the sum of N89.6 billion from internal and external loans of N50.9 billion, aid and grant of N24.18 billion and other capital receipt of N14.6 billion,

“Capital expenditure has been proposed in the sum of N178.8 billion in the following areas – N19 billion for administrative sector, economic sector would take N74.9 billion, law and justice sector would take N2 billion.

“Regional sector takes N17.2 billion, social sector which involves health and education has N65.7 billion,” he said.

While appraising the performance of 2023 budget, Mohammed said that it achieved about 51.6 per cent, adding that at the end of the fiscal year, they would achieve a total performance percentage of over 60 per cent.

He, however, solicited the continuous support of the lawmakers towards the development of the state and speedy passage of the 2024 Appropriation Bill into law.

Responding, Speaker Babayo Akuyam, assured that the budget would be speedily scrutinised and passed before the end of the year. (NAN) (www.nannews.ng)

Edited by Idris Abdulrahman

By Kadiri Abdulrahman

The Nigerian authorities and those of the United States of America on Wednesday held talks on how to fund mining projects in Nigeria.

According to a statement by Mr Kehinde Bamigbetan, Special Adviser to the Minister of Solid Minerals Development, Dr Dele Alake, said the talks held on the sidelines of the “Mines and Money” conference holding in London.

Bamigbetan said that the meeting was between Alake and the United States Assistant Secretary for Energy and Natural Resources, Geoffrey Pratt.

He said that both men agreed to set up a team of officials of both countries to explore financing for credit to mining firms and infrastructures.

Meanwhile, Pratt said that his visit to Alake followed an earlier meeting with President Bola Tinubu who sought the support of the US for the country’s economic revival.

He said that the US would like to be Nigeria’s partner of choice in developing the solid minerals sector and was interested in the reforms announced by the minister in his address at the plenary of the conference.

According to him, the United States has various institutions and laws which encourage direct foreign investment.

He promised to notify the agencies to collaborate with their Nigerian counterparts to work out the framework.

Responding, Alake said that his ministry had launched a seven point agenda as its roadmap to repositioning the mining sector.

He mentioned the establishment of the new Solid Minerals Development Company, a new security architecture to ensure safety of mine operations and data generation on a massive scale to derisk the sector.

He said that the credit facility and foreign direct investment promised by the United States would be in the mutual interest of both countries.

“Energy minerals such as lithium are critical to the global crusade for clean energy and necessary for the manufacture of electric cars,” Alake said. (NAN)(www.nannws.ng)

Edited by Maureen Atuonwu

By Ismail Abdulaziz

President Bola Tinubu on Wednesday presented a budget of N27.5 trillion for 2024 to the National Assembly for approval.

Presenting the budget tagged ‘’Budget of Renewed Hope’’, Tinubu said that it main focus was on national defence, internal security, local job creation and macro-economic stability.

He said that the budget was made up of N9.92 trillion non-debt recurrent expenditure and N8.7 trillion capital expenditure, while N8.25 trillion was for debt service.

“Accordingly, an aggregate expenditure of N27.5 trillion is proposed for the Federal Government in 2024, of which the non-debt recurrent expenditure is N9.92 trillion, while debt service is projected to be N8.25 trillion and capital expenditure is N8.7 trillion.

‘’Nigeria remains committed to meeting its debt obligations. Projected debt service is 45 per cent of the expected total revenue.

“The budget deficit is projected at N9.18 trillion in 2024 or 3.88 per cent of GDP. This is lower than the N13.78 trillion deficit recorded in 2023, which represented 6.11 per cent of GDP.

‘’The deficit will be financed by new borrowings totaling N7.83 trillion, N298.49 billion from Privatization Proceeds, and N1.05 trillion draw down on multilateral and bilateral loans secured for specific development projects,” Tinubu said.

He said that the budget would also place priority on investment environment optimisation, human capital development, poverty reduction and social security.

Tinubu said the nation’s internal security architecture would be overhauled to enhance law enforcement capabilities with a view to safeguarding lives, property, and investments across the country.

He said that the budget prioritised human capital development, with particular attention given to children, because human capital remains the most critical resource for national development.

“To improve the effectiveness of our budget performance, the government will focus on ensuring value for money, greater transparency, and accountability. In this regard, we will work more closely with development partners and the private sector.

“To address long-standing issues in the education sector, a more sustainable model of funding tertiary education will be implemented, including the Student Loan Scheme scheduled to become operational by January 2024,” the President said.

On the economy, Tinubu said a stable macro-economic environment was crucial in his administration’s bid to catalyse private investment and accelerate economic growth.

He said that the government would continue to implement business and investment friendly measures for sustainable growth.

“We expect the economy to grow by a minimum of 3.76 per cent, above the forecasted world average. Inflation is expected to moderate to 21.4 per cent in 2024. ‘’In preparing the 2024 Budget, our primary objective has been to sustain our robust foundation for sustainable economic development.

‘’A critical focus of this budget and the medium-term expenditure framework is Nigeria’s commitment to a greener future.

“Emphasizing public-private partnerships, we have strategically made provisions to leverage private capital for big-ticket infrastructure projects in energy, transportation, and other sectors. This marks a critical step towards diversifying our energy mix, enhancing efficiency, and fostering the development of renewable energy sources,’’ he said.

Tinubu added: ‘’By allocating resources to support innovative and environmentally conscious initiatives, we aim to position Nigeria as a regional leader in the global movement towards clean and sustainable energy.

“As we approach the COP28 climate summit, a pivotal moment for global climate action, I have directed relevant government agencies to diligently work towards securing substantial funding commitments that will bolster Nigeria’s energy transition.

‘’It is imperative that we seize this opportunity to attract international partnerships and investments that align with our national goals.

‘’I call upon our representatives to engage proactively to showcase the strides we have made in the quest to create an enabling environment for sustainable energy projects.

“Together, we will strive for Nigeria to emerge from COP28 with tangible commitments, reinforcing our dedication to a future where energy is not only a catalyst for development but also a driver of environmental stewardship.”

The President said a conservative oil price benchmark of 77.96 dollars per barrel and a daily oil production estimate of 1.78 million barrels per day were adopted after a review of global oil market trends, and that a naira to dollar exchange rate of N750 per dollar was adopted for 2024 as well.

Tinubu said his administration remains committed to broad-based and shared economic prosperity.

“We are reviewing social investment programmes to enhance their implementation and effectiveness. In particular, the National Social Safety Net project will be expanded to provide targeted cash transfers to poor and vulnerable households.”

He also said efforts would be made to further contain financial leakages through the effective implementation of key public financial management reforms.

The President commended the patriotic resolve of the 10th National Assembly to collaborate with the Executive on the mission to renew the hope of Nigerians and deliver on the promises made to Africa’s largest population.

“As you consider the 2024 Budget estimates, we trust that the legislative review process will be conducted with a view to sustaining our desired return to a predictable January-December fiscal year.

‘’I have no doubt that you will be guided by the interest of all Nigerians. We must ensure that only projects and programmes with equitable benefits are allowed into the 2024 Budget.

‘’Additionally, only projects and programmes that are in line with the sectoral mandates of MDAs and those which are capable of realizing the vision of our administration should be included in the budget,” the President said.(NAN)

KC/IS/ABI

By Salisu Sani-Idris

A young Nigerian entrepreneur and Founder of Greenway Business Chains, Mr Olamipo Oladunjoye, has been nominated for the prestigious Under-30 CEOs Award.

The Under-30 CEOs Award is set to be organised by the CEOs Network Africa.

Mrs Mina Obeten, Chairperson of the Award Committee, made this known in a statement on Wednesday in Abuja.

Obeten reiterated the organisation’s steadfast commitment to nurturing the growth of young African talents, emphasising the remarkable achievements of the nominees.

According to her, the voting process will remain open until Dec. 6.

She said Oladunjoye, who is an Engineer by training and profession, boasts a remarkable 13-year track record as a seasoned entrepreneur.

Obeten added that his expertise encompasses various aspects of the business world, including the art of persuasion, people management, risk analysis, and leadership.

” Through strategic delegation, teamwork, and resource management, he consistently demonstrates a keen ability to navigate the challenges of entrepreneurship.

” With a profound understanding of digital technology, Oladunjoye has successfully integrated innovative solutions into his business strategies, ensuring he stays ahead in the dynamic landscape of the modern retail environment.

” His proficiency in customer relationship management not only enhances client satisfaction but also propels his business achievements.”

Obeten disclosed that throughout his entrepreneurial journey, Oladunjoye had accumulated notable achievements.

” Oladunjoye was awarded the Tier 1 graduate entrepreneur visa to start a business in the United Kingdom.

” As an exceptional talent, he established valuable connections with the Bank of Industry as an electronic supplier, and received recognition from multiple foundations as a serial philanthropist.

” His business, Greenway, has been acknowledged as one of the fastest-growing SMEs in Nigeria by Business Day 2023, with revenues nearing a billion Naira per annum.

” This further underscores his business acumen and the impact he has on the national business landscape,” she added.

Obeten said that Oladunjoye’s overarching goal was to create an economy where the public would have easy access to a wide range of products that enhance the quality of life at an affordable price.

” His vision reflects a commitment to the sustainability of the economy, where accessibility and affordability are paramount considerations.” (NAN) (www.nannews.ng)

Edited by Bashir Rabe Mani

By Kadiri Abdulrahman

The Federal Government has assured foreign investors interested in the Nigerian mining sector of conducive business environment and low production cost to boost their profitability.

The Minister of Solid Minerals Development,  Dr Dele Alake said this while addressing global stakeholders at “Mines and Money Conference” which opened in United Kingdom on Tuesday.

According to a statement by Kehinde Bamigbetan, the Special Adviser to the Minister, Alake called for more investment in Nigeria, listing unique advantages such as lower production cost due to surface mining and billions of dollar untapped minerals.

He quoted recent reports by audit firm KPMG, which reported that the contribution of mining to Nigeria’s Gross Domestic Product (GDP) rose from 0.3 per cent to 0.85 per cent in 2022, indicating 0.63 per cent year-on-year growth.

“The country’s geological bounty encompasses more than 44 distinct mineral types found in exploitable quantities across more than 500 locations.

“Recently, recognising the evolving global landscape, and in response to emerging trends, lithium has been included as a crucial strategic mineral of global consequence,” he said

Alake said the administration of President Bola Tinubu had embarked on reforms to boost investment by streamlining procedures and reducing hurdles to attract foreign investors.

He highlighted fresh data revealed by the Airborne Geophysical Survey, and Memorandum of Understanding (MoU) with German firm Geoscan to gather more data on solid minerals across the country.

The minister also cited access to finance through a new funding facility inaugurated by the Africa Finance Corporation and the Solid Minerals Development Fund as incentive for investors.

He reminded the global mining community of the Federal Government’s policies on how mining operations must benefit the communities and lead to processing instead of wholesale export of raw minerals.

“Nigeria is currently emphasising Solid Minerals Beneficiation and Value-Addition as a panacea for quick and sustainable growth of the Mining Industry.

“By adding value to our raw materials, we not only create higher value products but also generate employment opportunities for our teeming youth and increase the sector’s overall profitability and contribution to the nation’s GDP, ” he said.

He urged investors to support socio-economic development of the communities where they mine to make mining mutually beneficial.

He cited the recent inauguration of the revised guidelines for Community Development Agreement, which provides for social amenities, educational support, health and safety environmental facilities. (NAN) (www.nannews.ng)

Edited by Ese E. Eniola Williams