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PETROLEUM INDUSTRY BILL: IPMAN Commends NASS for PEF Inclusion.

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4 years ago

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Suleiman Yakubu. IPMAN National PRO
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The Independent Petroleum Marketers Association of Nigeria, (IPMAN) has described the inclusion of the Petroleum Equalization Fund (PEF) in the newly passed Petroleum Industry Bill (PIB) as a clear demonstration of the sensitivity of the legislative arm of government to the yearnings of majority of Nigerians for a permanent solution to the energy problems of the country.

Speaking through the National Public Relations Officer Suleiman Yakubu in a statement made available to Newsmen in Abuja, The body stated that the entire content of the Bill as passed by the Senate last week would serve as a catalyst for the inflow of the much desired foreign direct investment to boost the economy.

According Suleiman Yakubu, “the much awaited Petroleum Industry Bill has come to ease Nigerians of the pains that necessitated the call for the Bill in the first instances.

“We observe with great delight that this Bill when passed into law would further solidify our support for the deregulation of the oil industry as a policy of government that would allow Nigerians to reap the full benefits of oil and gas which has been the greatest gift from nature to the country,” the IPMAN National Spokesman stated.

He also maintained that, “Notable among the clauses in the historic Bill is the Petroleum Equalization section which would remain a main factor to stabilize the industry across the country.

“If signed into Law by President Muhammadu Buhari as it was passed by the Senate, the Petroleum Industry Bill will change the landscape of the industry positively and above all, it would attract a smooth flow of foreign direct investments that would shore up the revenue base of the country and reduce the dependence of foreign loans to execute the nations’ budgets.

“The passage of the Bill by the Senate last week is a clear demonstration of the fact that our lawmakers are in touch with the masses and ready to play their role in easing the financial stress on Nigerians who were used to unstable pricing of commodities due to the unpredictable nature of fuel prices.

“We therefore want to thank the National Assembly under the leadership of the President of The Senate, Senator Ahmmed Lawan and the Speaker House of Representatives, Hon. Femi Gbajabiamila for presenting Nigerians with this tangible dividend of democracy and promising that as members of Independent Petroleum Marketers Association of Nigeria, we will obey every section of the law that would require us to make life easy for Nigerians after it is signed by President Muhammadu Buhari,” the Petroleum Marketers affirmed.

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NASS Passes ₦54.99trn 2025 Budget

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3 weeks ago

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February 13, 2025

By

National Assembly Complex Abuja.
National Assembly Complex Abuja.
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The National Assembly on Thursday passed the ₦54.99trn 2025 Appropriation Bill.

The bill was passed separately by the Senate and the House of Representatives.

A breakdown of the budget showed N3.645trn for statutory transfers, N14.317trn for debt servicing, N13.64trn for recurrent expenditure and N23.963trn capital expenditure (development fund), with fiscal deficit put at N13.08trn.

The Deficit-to-Gross domestic product (GDP) Ratio was put at 1.52%.

Last Week, President Bola Tinubu increased the 2025 fiscal year budget from an initial N49.7trn to N54.2trn, seeking approval from the Senate and the House of Representatives.

The Chairman of the House Committee on Appropriations, Abubakar Bichi, while presenting the bill for consideration, stated that the committee met with the Presidential Economic Planning team to further discuss revenue projections and expenditure for the 2025 Appropriation Bill.

According to him, the 2025 Appropriation Bill was presented late, compared to that of 2024.

He urged the executive to present subsequent budgets to the National Assembly not later than three months before the next financial year, to maintain the January to December budget cycle.

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Court Sacks APC Governorship Candidate In Bayelsa

Published

1 year ago

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October 10, 2023

By

Timipre Sylva
Timipre Sylva
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The Federal High Court, Abuja, has disqualified the All Progressives Congress (APC) Governorship candidate, Chief Timipre Sylva, from contesting the November 11 Guber election in Bayelsa state.

The suit number FHC/ABJ/CS/821/2023 was filed on June 13, 2023, by Deme Kolomo, a member of the APC.

Justice Donatus Okorowo ruled that Sylva, having been sworn in twice and ruled for five years as governor of the state, would breach the 1999 constitution as amended if allowed to contest again.

The judge also declared that Sylva was not qualified to run in the November poll because if he wins and is sworn in, he would spend more than eight years in office as governor

Citing the case of Marwa vs Nyako at the Supreme Court, Okorowo noted that the drafters of the country’s constitution stated that nobody should be voted for as governor more than two times and that the parties to the suit agreed that Sylva was voted into office two times.

He further stated that the Supreme Court ruled in the case of Marwa vs Nyako that nobody can expand the constitution or its scope, stressing that if Sylva was allowed to contest the next election, a person could compete as many times as he wanted.

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Senate stops El-Rufai, 2 Others Confirms Wike, Keyamo, Oyetola, Others As Ministers 

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2 years ago

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August 7, 2023

By

Cross Section of Ministerial Designates
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The Senate has put the confirmation of former Governor of Kaduna State, Nasir El-Rufai on hold and confirmed 45 ministerial nominees presented to it for screening and confirmation by President Bola Tinubu.

Two others affected are Stella Okotete (Delta State), and Abubakar Danladi (Taraba State). The Senate said the trio were still undergoing security clearance.

The Senate had spent a week in screening all the ministerial nominees presented to it by the president.

Those confirmed are:

Abubakar Kyari (Borno)

Abubakar Momoh (Edo)

Nyesom Wike – Rivers

Engr Joseph Utserv (Benue)

Senator John Owan Enoh (Cross River)

Hon Bello Mohammad (Sokoto)

Mohammed Badaru Abubakar (Jigawa)

Amb. Yusuf Maitama Tuggar (Bauchi)

Uju Kennedy Ohaneye (Anambra)

Hon. Olubunmi Tunji-Ojo (Ondo)

Nkieruka Onyejeocha (Abia)

Dr Betta Edu (Cross River State)

imaan Sulieman Ibrahim (Nasarawa)

David Umahi (Ebonyi)

Adebayo Olawale Edun (Ogun)

Arch. Ahmed Musa Dangiwa (Katsina)

Chief Uche Geoffrey Nnaji (Enugu)

Mr Dele Alake (Ekiti)

Waheed Adebayo Adelabu (Oyo)

Mohammed Idris (Niger)

Prof Ali Pate (Bauchi)

Dr Doris Anite Uzoka (Imo)

Lateef Fabemi SAN (Kwara)

Rt Hon Ekperikpe Ekpo (Akwa Ibom)

Hannatu Musawa (Katsina)

Ibrahim Geidam (Yobe)

Aliyu Sabi Abdullahi (Niger)

Hieneken Lokpobiri (Bayelsa)

Alkali Ahmed Saidu (Gombe)

Dr Tanko Sununu (Kebbi)

Atiku Bagudu (Kebbi)

Bello Matawalle (Zamfara)

Adegboyega Oyetola (Osun)

Simon Bako Lalong (Plateau)

Abdullahi Tijani Muhammad Gwarzo (Kano)

Bosun Tijani (Ogun)

Dr Mariya Mahmoud Bunkure (Kano)

Dr Iziaq Salako (Ogun)

Dr Tunji Alausa (Lagos)

Lola Ade-John (Lagos)

Prof Tahir Mamman SAN (Adamawa)

Zephaniah Jisalo (FCT)

Uba Maigari Ahmadu (Taraba)

Prince Shuaibu Abubakar Audu (Kogi)

Festus Keyamo SAN (Delta)

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