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Petroleum, Solid Mineral Marketer’s Task Force Move Against Looting, Vandalism
Noble Minds Initiative for the Discouragement of Vandalisation of Public Equipment, a non-political organisation, has condemned vandalisation of government properties in the country.
The organisation stated that efforts should be put in place by individuals, corporate organisations and non-governmental organisations across the country to ensure that the issue of vandalisation of public equipment comes to an end.
The Chairman of the organisation, Comrade Ikechukwu Chukwu at a press conference on Tuesday, 21 May, 2024 in Abuja, said for Nigeria to attain the desired development, vandalisation of government properties should stop henceforth.
He disclosed that Noble Minds Initiative will be involved in the advocacy of refiners and miners of minerals, Oil and Gas, through which he said, will boost the economy of the country.
Chukwu asserted that the need to eliminate looting and vandalism, bunkering, exploitation, hoarding, dubious middlemen, sharp business practices, artificial scarcity and adulteration of fuel products in the chain of distribution, while offering efficient effective services, cannot be overemphasized.
The Chairman of the organisation also stated that a commissioner will be appointed to represent in every state of the federation, including the Federal Capital Territory, FCT Abuja.
Chukwu announced that all the 37 Commissioners that will carry out the activities of the organisation will be inaugurated on 11th June, 2024 at NICON Luxury, Abuja.
He assured that the organisation, if commence operation fully, will protect and encourage youths in the country to engage in minerals mining, oil and gas business in all the states and Local Government Areas in Nigeria.
According to him, “The organisation will assist and support non-profit organizations to utilize their goals by transforming the social sector landscape in Nigeria through the use of practical training and capacity building.
“We will also recommend to the members towards building more minerals mining sites, to build modular refineries, filling stations, gas plants, renewable/alternative energy products and consumer shops to meet the increasing demand of goods/services and to stabilize price fluctuations.”
The Secretary of the organisation, Engr. Innocent Ogu, expressed displeasure over artificial scarcity of petroleum products from time to time in the country, saying their organisation will ensure continuous availability, easy access and supply of unadulterated kerosene, cooking gas and fuel.
Ogu, while answering questions from newsmen at the press conference on the source of their income of the organisation, he explained that free will donations, levy from members and grants from international organisations would be the major source of their funding.
On the disbursement and application of funds, he assured that the funds acquired would be used for the purpose of achieving the aims and objectives of the association.
Umahi foresees January 2026 delivery date
Construction of Phase 1 of the Lagos-Calabar Coastal Highway will be completed in January 2026, the Minister of Works, Sen. Dave Umahi, has said.
Umahi made the disclosure during an inspection tour of the highway. “We came to review the project with the financial promoters – Dutch Bank and Development Bank of Southern Africa,” he said.
He said it was projected that 20km of the road (from Ahmadu Bello Way in Lagos) would have been completed by May.
“We are going to surpass the 20km from this site,” the Minister said.
Umahi said the first phase of the highway project had been more than 70 per cent completed although the contractor had not got funds up to the 70 per cent.
“That is why I call them people that have set their minds towards nation-building rather than making money,” he said.
According to him, along the corridor, there are some lands that have been acquired for tourism, industries, factories and housing estates.
“These are the road architecture that you are going to receive on this highway. I assure you that by January next year, God willing, we have this road completed,” the Minister said.
He said the financial promoters of the highway were satisfied with the work progress, quality, method statement, and every other thing about the project.
Umahi praised the contractor handling the project, Hitech Construction Company, for efforts made.
“The road is exceptionally technically well-designed. The concrete thickness is designed for 275 millimetres but what they are doing is 280 millimetres.
“I commend also the department in charge of this project – the Department of Bridge and Roads, and, of course, the controller of works in Lagos,” he said.
Umahi said the greatest worry he could have would be motorists joining the highway ‘from their houses’
“It is going to be a very serious issue; so, we have to design a barrier. I know that you are putting a retaining wall but you have not incorporated a retaining wall all through,” he said
The Minister said as a superhighway, it would be expected that motorists would join it at flyovers and interchanges to avoid gridlock.
The African Development Bank Group (AfDB) has approved a new five-year Country Strategy Paper (CSP) for Nigeria, committing about $650 million annually between 2025 and 2030 to drive economic transformation, build resilience, and promote broad-based prosperity.
The Bank disclosed this in a statement published on its website on Thursday, stating that it will provide $2.95 billion over the first four years of the plan, with an additional $3.21 billion expected from development partners through co-financing.
According to the AfDB, the strategy focuses on two priority areas: promoting sustainable, climate-smart infrastructure to enhance competitiveness and industrial development, and advancing gender- and youth-inclusive green growth through industrialisation.
It stated, “The Board of Directors of the African Development Bank Group has a new five-year Country Strategy Paper (2025-2030) for Nigeria, committing about $650 million annually to drive economic transformation, build resilience, and foster broad-based prosperity across the country.
“Under the new strategy, the Bank will provide $2.95 billion over the first four years, complemented by an estimated $3.21 billion in co-financing from development partners.”
Focus on infrastructure and inclusive growth
The AfDB noted that the strategy aims to close Nigeria’s critical infrastructure gap, estimated at $2.3 trillion between 2020 and 2043, by investing in climate-resilient roads, expanding electricity supply, improving water systems, and supporting agribusinesses that create jobs, particularly for women and youth.
The Bank’s investments are projected to support Nigeria’s ambition to double the size of its economy to $1 trillion and create about 1,561,000 jobs during the period.
The strategy is aligned with Nigeria’s development plans, including Agenda 2050, the National Development Plan 2021–2025, and the 2023 Renewed Hope Agenda. It also seeks to boost Nigeria’s participation in the African Continental Free Trade Area (AfCFTA) by improving energy access, transportation networks, and market opportunities for farmers and businesses.
Commenting on the new plan, Abdul Kamara, Director General of the African Development Bank’s Nigeria Country Department, said, “This strategy takes a transformative partnership between the Bank and Nigeria to a new level. By investing in sustainable infrastructure and inclusive agricultural growth, we are not only building roads, power systems, and transforming agriculture – we are building pathways to prosperity for millions of Nigerians.”
Millions of Nigerians, including women, youth, micro, small and medium-sized enterprises, state governments, and rural communities, are expected to benefit from improved access to finance, enhanced supply chains, vocational training, and new business opportunities.
The AfDB added that women entrepreneurs would receive targeted support under programmes such as the Affirmative Finance Action for Women in Africa (AFAWA), while young people would be equipped with critical skills to address unemployment challenges.
The Bank further noted that by supporting greener and more resilient infrastructure and agricultural systems, the strategy would strengthen Nigeria’s adaptation efforts to climate change, help mitigate the effects of floods and droughts, reduce farmer-herder conflicts, and contribute to a more sustainable and united economy.
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has called for a review of the revenue allocation formula to ensure that funds are disbursed directly from the Federation Account to local government chairmen, in accordance with the recent Supreme Court ruling affirming local government financial autonomy.
RMAFC arrived at this decision at the end of a workshop in Akwa Ibom State. In a communiqué, the commission said that it aligns itself with the Supreme Court’s judgement of July 11, 2024, on local government financial autonomy, considering the fact that the current formula has been in existence for about 16 years.
The communiqué also called for a constitutional amendment to allow the inclusion of the local government chairmen and councillors among the beneficiaries of the remuneration package listed in the 1999 Constitution, as amended.
It stated that Section 162(6) of the Constitution should be amended to ensure that the allocations of the local governments are paid directly to them from the Federation Account, in line with the Supreme Court’s ruling delivered on July 11, 2024, on local government financial autonomy.
The communiqué called for the amendment of Section 162(2) to establish a clear timeline for presidential submission of RMAFC proposals to the National Assembly.
Besides, the commission called for the establishment of a National Revenue Dashboard for digital, real-time revenue tracking.
“The commission should advocate the amendment of the relevant sections of the Petroleum Industry Act (PIA) to expand the composition of the board of the Nigerian National Petroleum Corporation (NNPC) Limited to include representatives of states, local governments, and the Central Bank of Nigeria (CBN); creation of a distinct Office of the Accountant-General of the Federation, separate from that of the Federal Government,” it said.
The commission, in the communiqué, said it would intensify its constitutional mandate of monitoring revenue accruals to ensure that all revenues due to the Federation Account are remitted accurately and promptly by the revenue-generating agencies.
The communiqué also stated that, according to the spirit and letter of the Constitution, the advice of the RMAFC on the remuneration package of political, public, and judicial office holders is binding on the federal and state governments.
The retreat was attended by top federal and state officials, such as the Vice President, Senator Kashim Shettima, represented by Dr. Ibrahim Muhammad Natagwandu, and the Executive Governor of Akwa Ibom State, Pastor Umo Bassey Eno who delivered a goodwill message; the chairman of the Nigerian Governors Forum, Abdulrahman Abdulrazaq; chairman, Senate Committee on National Planning and Economic Affairs, Senator Yahaya Abdullahi and other distinguished personalities.