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Buhari Resumes, Meets AGF, NNPC GMD, May Attend Council Meeting Wednesday

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  • Buhari Resumes, Meets AGF, NNPC GMD, May Attend Council Meeting Wednesday

After weeks of absence due to ill-health, President Muhammadu Buhari resumed work on Tuesday and met separately with the Attorney-General of the Federation (AGF) and Minister of Justice, Mr. Abubakar Malami, and the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, at the Presidential Villa, Abuja.

Buhari’s resumption at his office was bound to stem speculation and growing concerns about his health, which presidency sources informed media have been grossly exaggerated.

A source on Tuesday reiterated the statement by one of the president’s spokesmen Garba Shehu that Buhari had been advised by his doctors to rest more and take things slowly after his medical vacation in the United Kingdom, adding, however, that now he has resumed work, he would likely chair the meeting of the Federal Executive Council (FEC) on Wednesday.

Since his return from the UK, Buhari has not attended any public function and was unable to attend two cabinet meetings last month and the Jumat service last Friday at the Presidential Villa.

The president was also absent at the May Day rally organised by the labour unions for the second time since assuming office in 2015, a development that caused commotion at the Eagle Square, Abuja.

Briefing State House correspondents after his closed-door meeting with the president, Malami said Buhari expressed concern over the perceived failure of the National Assembly to pass some bills meant to aid the fight against corruption, describing it as a major setback for the anti-graft war.

Malami, who disclosed that the assets recovered by the anti-graft agencies are scattered all over the country, added that the non-passage of the bills was worrisome to the president because it has resulted in a stalemate in stock taking and management of the proceeds of the anti-corruption war.

He made reference to Proceeds of Crime Bill which he said contains the legal backing for the establishment of an Asset Management Agency as one of such bills whose non-passage constitutes a threat to the progress of the anti-corruption war.

According to him, assets recovered by anti-corruption agencies are scattered across the country without any legal framework to aid their gathering and management.

He also explained that he had visited the president to brief him on developments in his ministry as well as the submission of the report of the Electoral Reform Committee to his office.

“It was a routine briefing to the president as it relates to general issues – the issues that have to do with anti-corruption.

“Mr. President is worried that the anti-corruption bills that are pending before the National Assembly, there has not been any expeditious determination on the passage of the bills and indeed the Asset Management Agency was also part of the discussion.

“Mr. President is worried that the assets that have been gathered over time by the agencies of government that are responsible for the fight against corruption are scattered all over the place.

“And embedded in the Proceeds of Crime Bill is the Asset Management Agency which is the agency put in place by the presidency for the purpose of managing the associated assets that are recovered.

“So, Mr. President is indeed worried and the discussions bordered on how best we can handle it. There are also limited issues that relate to the parastatals under the Ministry of Justice that were discussed.

“As you are aware, this afternoon, the Electoral Reform Committee that had been put in place submitted its report to my office.

“I equally briefed Mr. President on that and in addition to the report, there are bills that have been presented for the consideration of the Federal Executive Council as they relate to amendment to the electoral process.

“The whole essence of the meeting was to seek the view of Mr. President and the direction as to what to do next as it relates to the Electoral Reform Committee report that has been submitted and to consider routine processes under the Ministry of Justice,” he said.

Malami also disclosed that the presidential committee probing the allegations of corruption against the suspended Secretary to the Government of the Federation (SGF), Mr. Babachir Lawal, and Director-General of National Intelligence Agency (NIA), Mr. Ayo Oke, over the discovery of N13.3 billion in an apartment in Ikoyi, would submit its report to Buhari on Wednesday.

The committee is chaired by Vice-President Yemi Osinbajo. Malami and National Security Adviser (NSA), Babagana Monguno (rtd.) are also members of the committee.

Malami, who declined to make comments on the committee’s findings, said doing so would be pre-emptive, adding that the vice-president who is the chairman of the panel would brief the president on its findings after submitting the report today.

“Well, you know the presidential committee that is investigating the NIA and the Secretary to the Government of the Federation is supposed to make its submission by tomorrow.

“So it is pre-emptive now to discuss anything considering the fact that the committee is under the chairmanship of the vice-president who is supposed to brief the president in that respect and the schedule for the committee’s assignment has not elapsed,” Malami said.

Lawal and Oke were suspended by Buhari on April 19, after which the president constituted a three-man committee chaired by the vice-president to probe them.

While Lawal was accused of violations of due process in the award of contracts on the humanitarian crisis in the North-east, Oke was suspended over his claim that the money discovered in the Lagos flat belonged to the agency.

The committee was tasked with investigating “how and by whose or which authority the funds were made available to NIA, and to establish whether or not there has been a breach of the law or security procedure in obtaining custody and use of the funds”.

Lawal is being investigated over the management of the Presidential Initiative on the North-east (PINE) in his capacity as SGF.

He was alleged to have awarded a N220 million tree-cutting contract to his company, Rholavision Engineering Limited, in contravention of public sector rules barring government officials from awarding contracts to companies in which they have an interest.

During his briefing, Dr. Baru said he met with the president to update him on operations of the NNPC and its subsidiaries, and on the relative stability in the nation’s oil and gas sector in recent weeks.

He said the president expressed delight over the reported stability in the oil and gas sector.

“I briefed Mr. President on the state of the NNPC and its subsidiaries and also on the situation of fuel supply, crude oil production, gas production and by extension, ability to supply gas to the power sector,” he said.
“We had an extensive briefing as you can see; I passed here over two hours ago. I spent quite some time with him to discuss these national issues.

“He was happy with the state of the corporation and told us to continue with the efforts that we are doing and if we need any executive attention we should not hesitate to come back to him,” Baru said.

Baru disclosed that following the peace and stability being enjoyed in the Niger Delta, oil production peaked at two million barrels per day (mbpd) on May 2.

He also said NNPC has no plan to increase the prices of petroleum products.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Lagos Eyes Investment Surge as Sanwo-Olu Unveils Growth Strategy

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Governor Babajide Sanwo-Olu of Lagos State is spearheading a bold push to attract significant investment inflow to boost the state’s economic growth.

During a Pre-Summit Investor Roundtable at the Africa Social Impact Summit (ASIS 3.0), held at Eko Hotels and Suites, the governor outlined strategic opportunities for investors.

With the theme “Invest Lagos – Investment Opportunities,” the summit was organized by the Sterling One Foundation in collaboration with the Ministry of Commerce, Cooperatives, Trade, and Investment.

Attended by business leaders, chambers of commerce, and industry captains, the event underscored Lagos’ potential as a hub for economic activity.

Sanwo-Olu highlighted Lagos’ positive economic outlook, citing an expanding population and sustainable infrastructure as key growth drivers.

Despite challenging business environments, the state’s economy has shown resilience, welcoming new investments while sustaining existing ones.

The governor emphasized reforms aimed at improving the ease of doing business. He mentioned that digitizing services had reduced bureaucratic hurdles, fostering a stable business climate.

Sanwo-Olu assured potential investors of the state’s commitment to creating a supportive environment that ensures returns and security for investments.

“In the last five years, Lagos’ GDP has grown by 50 percent,” Sanwo-Olu stated. “We aim to sustain this growth and ensure the gains of the past years are not reversed.”

Sanwo-Olu identified sectors ripe for investment, including transportation, tourism, health insurance, and waterways. He expressed the government’s dedication to advancing development plans in these areas.

Commissioner for Commerce, Cooperatives, Trade, and Investment, Mrs. Folashade Ambrose-Medebem, highlighted Lagos’ economic strides, noting that the state’s GDP had increased from N27 trillion to N41 trillion in five years.

She detailed strategic investments, particularly the allocation of N550.7 billion for infrastructure in 2024, and the commitment of N44.33 billion to food security initiatives.

Sterling Bank’s Managing Director, Mr. Abubakar Suleiman, pointed out that economic growth in Africa is often hindered by an unstable investment climate.

The summit aimed to build investor confidence by fostering trust and transparency in business environments.

“Lagos remains a leading destination for investors,” Suleiman noted. “The state provides clarity and access to markets, maintaining consistency in its investment strategies.”

Sanwo-Olu’s administration continues to focus on diversifying Lagos’ economy through strategic investments in various sectors.

The state’s proactive approach has positioned it as a global city and an emerging African financial center.

The governor’s initiative is expected to further solidify Lagos’ reputation as a prime investment destination, paving the way for sustained economic growth and development.

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Vice-President Harris Gathers Momentum as Democratic Nominee

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Vice-President Kamala Harris has secured the support needed to become the Democratic nominee for president.

This was after President Joe Biden announced he would not seek re-election, endorsing Harris as his successor.

According to CBS News, Harris has received endorsements from over 1,976 delegates, surpassing the threshold needed to clinch the nomination in the first round of voting at the Democratic National Convention (DNC) scheduled for August.

Delegations from at least 27 states have expressed full support, showcasing a strong backing across the nation.

In her address to campaign staff in Wilmington, Delaware, Harris expressed gratitude for the widespread support, adding that she committed to uniting the party and the country.

“We have 106 days until Election Day, and in that time, we have some hard work to do,” she stated.

Harris laid out her vision for America, contrasting it with that of her likely opponent, Donald Trump.

Speaking on the direction of the campaign thus far, she said “Our campaign has always been about two different versions of what we see as the future of our country. One focuses on the future, the other focuses on the past.”

She acknowledged the accomplishments of the Biden administration, highlighting her pride in serving as vice-president.

“My time serving as vice-president was one of the greatest honors of my life,” Harris said, underscoring her dedication to continuing the work they started.

In a phone call to his campaign team, Biden praised Harris, urging his supporters to rally behind her. “I’m hoping you’ll give every bit of your heart and soul that you gave to me to Kamala,” he said.

Despite stepping back from the race, Biden vowed to remain actively involved in supporting Harris and emphasized the importance of defeating Trump, calling him “a danger to this nation.”

Harris’s nomination marks a significant milestone, but challenges remain. The campaign will focus on addressing key issues such as healthcare, climate change, and economic inequality.

With millions of dollars pouring into her campaign since Biden’s announcement, Harris aims to capitalize on the momentum and build a coalition that appeals to a broad spectrum of voters.

As the DNC approaches, Harris is expected to formally accept the nomination, solidifying her position as the Democratic leader.

The coming months will be crucial as she works to unite the party and reach out to undecided voters. With her historic nomination, Harris stands poised to make a lasting impact on the future of American politics.

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President Declines Nomination, Endorses Harris for 2024

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In a significant political announcement on his X.com account, President Joe Biden has decided to forgo the opportunity to seek re-election in 2024, instead throwing his full support behind Vice President Kamala Harris.

The surprise move, shared with the public this morning, represents a pivotal moment in the Democratic Party’s journey toward the upcoming presidential election.

In his statement, Biden said that his choice to step aside is driven by a desire to concentrate on his remaining duties as President.

He expressed gratitude for the opportunity to serve alongside Harris, calling her selection as his Vice President in 2020 “the best decision” he has made. “My fellow Democrats,” Biden began, “I have decided not to accept the nomination and to focus all my energies on my duties as President for the remainder of my term.”

The President’s announcement signifies a strategic shift in the 2024 election landscape. By endorsing Kamala Harris, Biden not only aims to consolidate support within the party but also to set the stage for a unified front against former President Donald Trump.

“Today I want to offer my full support and endorsement for Kamala to be the nominee of our party this year,” Biden declared. “Democrats — it’s time to come together and beat Trump. Let’s do this.”

This endorsement comes as a surprise to many, given Biden’s earlier commitment to seeking re-election.

However, it reflects a broader strategic maneuver to ensure party unity and strengthen the Democratic position in the face of a formidable opponent. By focusing on Harris, Biden aims to leverage her growing popularity and political acumen to fortify the party’s chances in the upcoming election.

Kamala Harris, who has served as Vice President since January 2021, will now be thrust into the spotlight as the presumptive Democratic nominee.

Her campaign is expected to build on the legacy of the current administration while addressing key issues facing the nation.

The move also raises the stakes for the Republicans, who will need to prepare for a robust campaign from a seasoned political leader in Harris.

As the 2024 election cycle ramps up, Biden’s endorsement is likely to reshape the dynamics of the race, influencing both Democratic strategies and Republican responses.

The coming months will be critical as Harris and her team work to solidify their platform and rally support from voters across the nation.

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