By Naomi Sharang

President of the Senate Ahmad Lawan says Nigeria will generate more revenue with the passage of the Petroleum Industry Bill (PIB).

Lawan made this known while addressing Senate Correspondents at a forum to mark his 62nd birthday in Abuja on Tuesday.

He said that the Senate would on resumption from the Christmas break on Jan. 26, consider the bill for passage.

According to him, the PIB is an important legislation that will be given the necessary attention on our resumption.

“By the grace of God when we resume, we will start work on the Petroleum Industry Bill (PIB); that is going to be one legislation that not only Nigeria but the entire world is waiting for because that will change our economy.

“Money will start flowing so we want you to be in that journey with us so that you too, when the history of PIB passage and assent will be written, your names will be reflected.

“We promised Nigerians that we are going to achieve that by the grace of God in the year 2021,’’ the Senate president said.

He, however, said that there were people within and outside the country who were opposed to the passage of the bill.

“There are people both within and outside the country who will work against it but it is going to take the strength of our patriotism to pass it,” Lawan said.

He further said that the PIB would be given the same speed accorded the Deep Offshore Production Sharing Contract bill.

“When in 2019, we said we will pass the amendment to the Deep Offshore Production Sharing Contract in this house, we spent nights.

“We close by 2a.m., 3a.m., just working to amend that act, people didn’t want it to happen because it stopped what has been happening for 20 years.

“In a week, they thought it was a joke. In a week we finished the amendment because the house was on recesse, the day they returned, they concurred.

“Mr President knew how important that amendment was. He was in London and that bill was flown to him and he signed on a Sunday just to give that amendment the validity that was needed,” he said.

Lawan added:“We lost billions of naira because we were supposed to be given 2 billion dollars every year in the last 20 years; they were giving us 216 million dollars.

“But from last year, after the amendment, it is now 2 billion dollars.

“That is what we intend to do with the PIB, we will pass the PIB that will ensure that businesses here get a very competitive environment, that people are able to make profit and stay and even invest more.

“It is absolutely necessary and incumbent on all of us leaders, to apply ourselves fully to address the various challenges facing Nigerians.”

He noted the need for leaders in the country to surmount the challenges, saying that there should be no excuses in finding solutions to the problems.

“It is not easy. And sometimes, when you are outside the system, you think two plus two is four. Until you get in then you will discover it’s beyond that arithmetic, but there should be no excuses,” he said. (NAN)

By Emmanuella Anokam

The National Association of Nigerian Traders (NANTS) has urged the Ministry of Industry, Trade and Investment to develop synopsis of negotiated items on African Continental Free Trade Area (AfCFTA) agreement for proper implementation.

NANTS President, Dr Ken Ukaoha,  made the call in a memo it addressed to the Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, on Tuesday in Abuja.

Ukaoha commended the management of the AfCFTA, especially the preparations for implementation of the agreement under the leadership of the minister, as the Chairman of the National Action Committee (NAC).

He said that since Nigeria had successfully advanced beyond the Jan. 1, 2021 implementation take-off date, it had to start massive sensitisation and enlightenment of all actors, including the private sector and implementing agencies.

“For this reason, we request that you cause the Ministry, or the Nigeria Office for Trade Negotiations (NOTN), which has been responsible for AfCFTA negotiations so far, to develop a synthesis which summarises all items negotiated on AfCFTA.

“Such articulated documentation that captures all the thematic issues should be produced and made available to all key stakeholders.

“It would help stakeholders to have a clear and up-to-date understanding of the subject, so that they can use same to engage in a thorough and effective sensitisation of their members.”

According to him, it will enable all actors to remain on the same page in understanding responsibilities and/or actions from the various levels.

Specifically, he noted that private sector organisations would need to educate their members on key points and outcomes of the negotiations, requirements, as well as strategies, for compliance with various provisions on every thematic issue in the agreement negotiated.

Ukaoha further suggested that subject to the minister’s approval, the said document should be in a tabula form with columns, specifying but not limited to each of the subject/thematic issue, and Relevant Protocol or Annex.

According to him, it will specify Nigeria’s position canvassed, brief summary of reasons for such position (justification), final outcome/common position taken by the AfCFTA and actions to be taken on the subject.

Others include key agency or agencies responsible for implementation of the actions, expected outcomes, possible monitoring mechanism and timeline, among others.

Ukaoha appealed to the minister that the suggested synthesis should facilitate easy identification of actions, roles, tracking of impact and success stories for his report card, as the chairman of the NAC.

He said that it would help the ministry to prepare ahead of time, for the review and amendment of the AfCFTA in the next five years, pursuant to the fulfilment of Articles 28 and 29 of the Agreement.

“This benefit is in addition to the improvement of stakeholder’s knowledge-base, which is very key to proper and effective implementation of the AfCFTA.”

For emphasis, he advised that the sensitisation and awareness creation would not be only critical to the effective implementation, but fundamental to galvanising the realisation of the benefits of the agreement.

“Nigerians want to know what was negotiated on their behalf and how the implementation would be conducted.

“The required sensitisation and public awareness must, therefore, be conducted with a basic document that provides informed knowledge,” Ukaoha noted. (NAN)

By Temitope Ponle

The United Nations (UN)  has renewed  call for developed nations to fulfill their pledge to provide 100 billion dollars a year for developing countries to support both climate mitigation and adaptation.

UN Secretary General António Guterres made the call at the virtual 2021 UN Climate Change Conference Roundtable on Clean Power Transition, according to a statement from the African Development Bank (AfDB) on Tuesday.

The conference, also known as COP26 and hosted by Italy, had as its theme “Achieving a rapid shift to green, affordable and resilient power systems”.

Guterres said the year ahead would be critical “not only in beating the COVID-19 pandemic but in meeting the climate challenge” adding that African countries, in particular, were vulnerable.

“Huge amounts of money have been earmarked for the COVID-19 recovery and stimulus measures. But sustainable investments are still not being prioritised.

“We must invest in the future of affordable renewable energy for all people, everywhere,” he said.

COP26 President Alok Sharma said the global transition to clean power must move at least four times the current pace to achieve targets set out in Paris Agreement on climate change.

Sharma called for enhanced global cooperation to boost innovation and economies of scale.

“This is our moment in history to make those vital decisive and positive choices so that we can protect the future of our planet and our people.

“So, let’s continue to work together to bring the benefits of clean, affordable and resilient power to the world,” he said.

Italian Minister of Foreign Affairs Luigi Di Maio said a clean energy transition “must be a universal goal in the interest of the entire international community.

“Italy has been working with international agencies and private sector to foster smart and digital power infrastructure in African countries.

“Such an improvement will boost energy efficiency and facilitate energy access for all local communities,” he said.

AfDB President Akinwumi Adesina said the bank had prioritised renewables as the mainstay of its Light Up and Power Africa strategic priority.

Adesina added that the share of renewable energy in the bank’s power generation investments currently stood at 80 per cent.

“The bank has been at the forefront of transformative renewable energy projects in Africa, including large-scale concentrated solar projects in Morocco – one of the largest in the world – and the Lake Turkana wind power project, the largest in Sub-Saharan Africa.

“The bank expects to invest 10 billion dollars in the energy sector over the next five years.

“When we light up and power Africa – based on an energy mix aligned to a low carbon transition and prioritising renewable energy sources – we will achieve a more economically prosperous Africa,” Adesina said.

According to the statement, the accelerated transition to green, affordable and resilient power systems has been identified as a top priority for COP26 under the presidency of the United Kingdom, which has established the Energy Transition Council to drive the transformation. (NAN)

By Chijioke Okoronkwo

Vice President Yemi Osinbajo has urged stakeholders in the public and private sectors to be innovative in order  to consolidate on the gains recorded in improving small businesses.

Osinbajo’s spokesman, Laolu Akande, in a statement on Monday in Abuja, said the vice president spoke at the first virtual meeting of Micro Small and Medium Enterprises (MSMEs) stakeholders for the year, 2021.

The vice president said that in partnership with the private sector, the Federal Government would continue to support innovation and interventions to boost the growth of small businesses across the country.

According to him, the Federal Government is committed to improving the economy and creating more employment opportunities for Nigerians.

“We must continue to be innovative in the interventions that we plan for MSMEs; small businesses are the engines of growth of any economy in the areas of wealth creation and employment opportunities; MSMEs are very important.

“We really have to think out of the box in our engagements going forward.

“We need to change the way we do many things, we need to look for ways of multiplying our efforts, because the challenges in this space are greater than what we have been able to achieve so far.

“Of course, we have done a lot, but looking at the numbers in need, you will find out that there is a lot more to be done.”

On the implementation of the MSMEs Survival Fund and the impact on the economy, Osinbajo said that the fund had sent the right signals that MSMEs were an important component of the economy.

He commended the stakeholders for their cooperation and commitment in the implementation of schemes and initiatives in the MSMEs sector.

“Working together, we can achieve more in the MSMEs space.

“ I am glad to hear that there is more collaboration among partners and among Ministries, Departments and Agencies,” he said.

Earlier, Amb. Mariam Katagum, Minister of State, Industry, Trade and Investment, said the implementation of the Survival Fund across different areas lessened the burden of the pandemic on businesses.

“It has impacted over 300,000 beneficiaries under the Payroll Support Scheme, paying them N30,000 and N50,000  each as at December 2020; and successfully completing the enumeration and disbursement to 166,000 artisans as at December 2020.

“The Survival Fund, has filled the gap created as a result of the pandemic,” she said.

She said that the support provided through the Survival Fund would  go a long way in cushioning the impact of the pandemic as observed in comments captured in the testimonies of beneficiaries of the various tracks under the scheme.

On his part, Amb. Adeyemi Dipeolu, Special Adviser on Economic Matters to the President, urged stakeholders to seriously consider the possibility of expanding the scope of the MSMEs clinics to cover more beneficiaries and consolidate past efforts.

He said that the clinics were limited to Nasarawa and Ebonyi states alone in 2020 due to the COVID-19 pandemic.

Dipeolu said that the secretariat, in line with the directive of the vice president, would take the clinics to the remaining states of Benue, Imo, Lagos, Gombe, Adamawa and Jigawa.

He said that such was to ensure total coverage of the country and prepare the ground for a possible nationwide second round of the clinics.

“Other initiatives that require improvement in collaboration and scope of implementation include the Shared Facility Scheme which was launched in Benue and Lagos states respectively in 2020, with Anambra and Kaduna waiting in line to be inaugurated.

“The scheme has proven to be one of the key products of the MSMEs clinics that needs to be sustained and expanded,’’ he said.

More so,  Mr Segun Awolowo, Executive Director,  Nigerian Export Promotion Council (NEPC), spoke about the collaboration among agencies in the MSMEs space in actualising the objectives of the Federal Government.

He said the NEPC would leverage existing and renewed cooperation among agencies to actualise its new project aimed at supporting businesses in overcoming the COVID-19 disruptions

According to Awolowo, the new project is tagged “From pandemic to prosperity.” (NAN)