By Hudu Yakubu, Abuja 

The Nigerian Federal Capital Territory Administration, FCTA has pledged support the manufacturing sector for the continual growth and development of the Federal Capital Territory.

This commitment was made by the FCT Minister, Malam Muhammad Musa Bello when a delegation from the Manufacturers Association of Nigeria led by its President, Engr Ahmed Mansur paid a visit in Abuja Nigeria’s capital 

Malam Bello said that it has come to the realization of all that for Nigeria to develop as a nation, emphasis must be placed on the development of the manufacturing sector.

He  added that that the COVID -19 pandemic which resulted in the lock down of countries around the world revealed that as a nation, Nigeria cannot depend on outsiders as the global lockdown resulted in the disruption of supply chains and manufacturing processes.

He also commended the foresight of President Muhammadu Buhari for policies in the agricultural sector that emphasized “growing what eat and eating what we grow” which shielded the nation from the worst of the pandemic by ensuring local food supply.

While pledging the support of the FCT Administration to the manufacturing sector, the FCT Minister said the Territory has over the years evolved from being just the seat of government.

He cited the efficient transportation network in terms of road, air and now rail, as well as the central location of the FCT and other programmes of government including the AKK pipeline passing through the Territory as areas on which the manufacturing sector can leverage to establish the FCT as an industrial hub in Nigeria.

Malam Bello also pledged the commitment of the Administration to the development of the industrial zones of Gwagwalada and Kwali as well as the provision of more security to the Idu Industrial Area.

Speaking earlier, Engr, Ahmed Mansur commended the timely intervention of the FCT Minister during the ENDSARS protests that the manufacturing businesses located at the Idu Industrial Area.

In the words of the Engr Mansur, “your timely intervention significantly reduced the impact on our members and the manufacturing sector of the economy. We like to thank you for this intervention”

He also reiterated the importance of the manufacturing sector to the national economy and said that MAN has over the years become a major voice of the Nigerian manufacturing sector and is therefore a strategic partner to the government in its drive towards the transformation of the economy.

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By Hudu Yakubu, Abuja

Investors have been called upon to take advantage of the favourable investment climate in the Nigerian Federal capital, Abuja, such as its central location good road and rail networks, presence of world class communication facilities as well as a major international airport and invest in the FCT.

The FCT Minister, Malam Mohammed Musa Bello who made the call at the official opening of the 15^th Abuja International Trade Fair, stressed that the FCT Administration was working with the Abuja Chamber of Commerce and Industry, ABBUCI and other stakeholders to harmonise taxation so that payment of multiple taxes does not adversely affect businesses in the FCT.

The Minister said that the FCTA was working hard to create the enabling environment to make the Territory a major trading and business destination.

He said that the focus of the 15^th edition of the fair, with the theme; “Trade and Commerce Beyond Borders”, was in tandem with President Muhammadu Buhari’s agenda of putting Nigeria on the global map as a great trade and exporting nation. The theme, he added, was a call to look inwards.

According to him, “This theme is, indeed, a call to look inwards and harness all the abundant potentials of our great nation in areas of agriculture, mining and technology to not only rebuild our economy but also become a major commodity exporter”.

Malam Bello commended the management of the Chamber for ensuring that the fair still held in spite of the COVID 19 pandemic, adding that, “the Chamber’s innovative and result oriented ideas and activities have contributed in no small measure in raising the profile of the FCT as a growing commercial and industrial hub”.

He also commended the efforts of the outgoing President of the Chamber, Prince Adetokunbo Kayode in building the structures within the trade fair complex, which, he said, has improved the Abuja skyline.

The FCT Minister, in company of the Hon. Minister Industry, Trade and Investment Otunba Niyi Adebayo and other dignitaries also took a tour of the various exhibition stands.

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By Ismail Umar, Kebbi 

The Kebbi State Governor, Senator Atiku Bagudu, has presented a budget proposal of over N 141.64 billion for 2021, to the State House of Assembly.

Governor Bagudu said that, the figure includes grants and programme backed funds of development partners amounting to over N18.1bn.

He added that, the Budget of Economic Rejuvenation has a Recurrent Expenditure provision of N49, 506,039,786 and a Capital Expenditure of N92, 138,230,333, representing 35% for Recurrent and 65% for Capital, respectively. 

According to Bagudu, in a statement by his Special Adviser on Media, Yahaya Sarki, the 2021 Budget was prepared in line with the Federal Government’s Fiscal outlook for the 2021 fiscal year.

 “Based on the benchmarked oil price of $40 per barrel, there is a projection of 30% increase on Statutory allocation over the 2020 revised budget. 

“Inflation rate was put at 11.95 and Exchange rate at N379 per Dollar”. 

IGR is marginally projected to increase compared to the revised 2020 Budget to N12 11 billion.

 “Projected VAT increases from N12.07bn in 2020 to 16.56 billion in 2021. 

Grants are up from 15.9bn in the 2020 revised budget to 25.1bn because of expected SFTAS (7bn), ATASP, National Urban Water Supply and a host of others. 

“Our Miscellaneous Revenue projections have reduced from N9.9 in the revised 2020 Budget to N5.5 bn in the proposed 2021 budget,” the Governor explained.

He also disclosed that, the 2021 Budget which is designed to invigorate our economy, through massive investments in Agriculture, Infrastructure, Youth empowerment, Social Inclusion and the Development of SMEs.

“The 2021 Budget had therefore been themed as the Budget of Economic Rejuvenation which is expected to sustain our Agricultural drive, Youth empowerment and provide an enabling environment for SMEs to grow and pave way for industrial development of the State,” the Governor, further stated .

Governor Bagudu enumerated the recurrent revenue projection for 2021 to include an Opening Balance of 8,941,647,823, Internally Generated Revenue (IGR),  N 12,200,790,747 and a  Statutory Allocation of N 42,117,096,330, totalling N 63,259,534,900.

The Recurrent Expenditure Estimates for the incoming year inlcude: Consolidated Revenue Fund Charges has 11,372,400,667,  Personnel Cost has  21,418,907,936,  Overhead Cost has 16,714,731,183 and N49,506,039,786, totalling N 49,506,039,786.

The Transfer to Capital Budget has a Recurrent Revenue of 63,259,534,900, Less Recurrent Expenditure of 49,506,039,786, as well as a Recurrent Budget Surplus of N 13,753,495,114

The Capital Accounts Funds for 2021 are: Transfer from Recurrent Budget Surplus has 13,753,495,114, Value Added Tax (VAT), has 16,563,707,139, Internal Loans have  8,900,000,000, while External Loans have 804,262,180.

Similarly, Grants have 30,554,787,280, Sales of Government Assets have  16,025,134,503, Other FAAC Transfers and Miscelleneous Revenue are  5,536,844,117, totalling N 92,138,230,333

The Governor further stated that, the sum of N 92,138,230,333 has been allocated as Draft Capital Estimates,  across all sectors.

According to the Kebbi State Governor,  the 2021 Budget has prioritised certain sectors as the engine of growth and drivers of the State’s economy.

“Major allocations in this Budget are geared towards provision of improved Health care services, provision of quality Education, ICT Deployment, Youth and Social Development.

“To further co-ordinate youth empowerment, employment and entrepreneurship, a wards based mobilization programme “we can” is being introduced.

“It is to challenge our youth to identify their challenges on a localized basis i.e ward level, so that the need can be better appreciated and attended to. A sum of 1bn is proposed to unlock other sources funding for the programme. 

“The social sector therefore has the highest allocation of 34.19% in the 2021 Budget,” he added.

Bagudu added that, the economic sector as the main growth driver of the State comprises of the Ministry of Agriculture, Animal Husbandry, Environment, Commerce, Works and Transport and Rural Electrification Board.

“This sector has the second highest allocation of N26,637,537,363 (about 28.91%) of the Capital Budget.

“The major allocations, are those under Agriculture for fertiliser, AADS, Electrification of some towns and villages and continuous construction and repairs of roads, culverts and bridges under Works and Transport.

“Over N6.5bn was allocated for Road construction in the 2021 Budget. Major allocations in the Ministry of Agriculture are for the purchase of Motorize planters and Rice Trans-planters, Agro processing equipment and fertilizer.

“Special attention will also be paid to Women in Agriculture. Seed capital for SMEs have been provided under the Ministry of Commerce.

” Honorable Members, there is a new initiative from the Federal Government, rolled out to States known as Covid-19 Action Response Economic Stimulus (CARES) programme for result.

” This programme is a $20m programme to be implemented in 2 years from 2021.The programme is meant to cushion the effect of the Covid-19 pandemic on Farmers, SMEs and the Vulnerable in the Society.”

He stated that, the Environment sector involves such important areas as Water, Housing, Sewage and Drainages, Town and Country Planning and Community Development.

Also, the Sector has been given high consideration with an allocation of   N11,400,000.

“Major areas of allocations in this sector are in the areas of Land acquisition and payment of compensations as our construction projects increase, construction of boreholes and hand pumps.

“This is in our bid to provide safe drinking water and improve sanitary facilities to our people. We have also made allocations for the Construction of about 2000 Housing Units at the cost of 5bn around the State,” he added.

Bagudu also described the Administrative Sector as the engine for the implementation of Government Policies and Programmes.

In the same vein, it houses the state’s security provisions of about N3bn and provisions for SEMA.

Accordingly, the Sum of N 22,224,552,380 (24.12%) has been allocated to this Sector and it comprises such MDAs as the SSG’s office, SEMA, Justice, Finance, Budget, Judiciary and Women Affairs, amongst others.

Bagudu stated that, to say that, year 2020 has been a very challenging year is an understatement, as the nation and the state had to contend with Coronavirus pandemic and other economic challenges.

He said that, states had to sustain their economies and also mitigate the impact of the pandemic on their people.

The Governor explained that, the state had to contend with a serious case of flooding that had not been experienced in the last century.

Bagudu expressed delight that, in spite of the unfavourable economic climate, the state recorded some modest achievements. 

He promised to sustain the feat, with the regular payment of salaries and other overhead as at when due,  provision of security, as well as expend as much as required, to ensure the lives of the citizens and their well being.

Bagudu excitedly announced that the state had been adjudged by the World Bank as one of the best performing state in the implementation Better Education Service Delivery to All (BESDA).

He also said USAID commended the state during the last peer review meeting in Abuja, while the girl child education would be given priority in terms of improving their environmental learning condition with the effort of the state government.

Bagudu commended the State House of Assembly for expeditiously approving the 2020 budget, as well as its revised version.

He also acknowledged the extant cordial relations between the various arms of government, as well as appreciated the sustained support and cooperation of all the critical stakeholders in the State.

The Speaker of the Kebbi State House of Assembly, Right Hon. Samaila Abdulmumin Kamba said that, they were convinced that, Kebbi State was one of the best performing states in the nation.

He explained that, the house was to contribute to the good governance of the Bagudu-led administration as it has always been demonstrated. 

The Speaker assured, will work round the clock, to ensure the speedy passage of the Appropriation Bill. 

This, he noted, was for Kebbi State to continue to be on the frontline of the upright states in Nigeria.

The Speaker also promised that, the budget will be passed before January, 2021, in line with the new standard that every fiscal year should start from January, 2021.

The year 2021 budget has been tagged ‘the Budget of Economic Rejuvenation’ that is expected to sustain agricultural drives, youth empowerment, enabling environment for SMEs to thrive and pave way for industrial development of Kebbi state. 

The Governor was accompanied to the budget presentation ceremony by the Secretary to the State Government, APC Chairman, members of the State Executive Council, Permanent Secretaries, Special Advisers, Local Government Chairmen among others.

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By Elizabeth Christopher, Abuja

Transcorp Power Consortium has paid an equivalent of N26.25billion being 25 percent of the N105.3billion winning price for the Afam Power Plc to formally takeover the assets of the company. 

Announcing the payment at the formal handover of the company to the new owners on Thursday, November 26, 2020, Director General of the Bureau of Public Enterprises (BPE), Mr. Alex A. Okoh said the Consortium paid cash into the Federal Government account with the requirements of the Request for Proposal 100(RfP) and approval granted by the National Council on Privatisation (NCP).

Okoh said the “emphasis on cash payment is to correct some misinformation in the media purporting that the Afam deal is a mere reconciliation of figures between the Federal Government and Transcorp”.

“For the benefit of those who wish to know, this idea was never accepted by both the NCP and its several sub-committees. However, with the payment of the money by Transcorp to the treasury, we hope this unfounded and concocted information being fed to the public would stop”.

He noted that the formal handover of Afam Power Plc and Afam Three Fast Power Limited to Transcorp Power Consortium marked a significant milestone in the process of the privatisation of the last successor generation company of the defunct Power Holding Company of Nigeria (PHCN), adding that “it is a culmination of several years of painstaking efforts by the National Council on Privatisation (NCP) and the Bureau of Public Enterprises (BPE) in the face of daunting challenges”.

Recalling the need for the Electric Power Sector Reform, the Director General said it  was conceived  with the objective of enhancing industrial and economic growth and development through the creation of a competitive electricity market.

“It commenced in 1999 with the inauguration of the Electric Power Sector Reform Implementation Committee (EPIC), which culminated in the enactment of the Electricity Power Sector Reform Act (EPSRA) 2005. The ESPRA 2005 repealed the National Electric Power Authority (NEPA) Act and created the Power Holding Company of Nigeria (PHCN) from which 18 successor companies were unbundled along functional lines, namely, Generation (six companies); Transmission (one company); and Distribution (11 companies)”, he stated.

According to him, the privatization of the sector is a key component of the reform and is one of the pre-conditions for the start-up of a competitive electricity market in Nigeria as well as a sensible avenue to reduce dependence on the treasury for support to an otherwise economically viable power sector and channel government resources to other ventures.

He added that sequel to the previous failed attempt to privatise Afam Power Plc and the approval granted by NCP for the recommencement of a new process, the Bureau commenced a free, fair and transparent competitive process of the privatisation of Afam Power Plc and Afam Three Fast Power Limited, which culminated in Transcorp Power Consortium emerging as the preferred bidder with a combined offer of N105,300,000,000.

Okoh noted the challenges facing the electricity sector in Nigeria but expressed the hope that the opportunities are far greater and certainly worth exploiting, and that the Federal Government has demonstrated strong commitment to create the enabling environment that would incentivise private sector investors to take on these challenges and the opportunities therein to ensure quality and cost-effective service delivery to electricity consumers while also receiving adequate compensation.

He charged Transcorp Consortium to use its proven capacity and pedigree as demonstrated with Transcorp Ughelli Power Plant and Transcorp Hotel, Abuja to transform Afam Power into an exemplary utility company of reference.

Chairman of Transcorp  Group,Mr. Tony Elumelu in his remarks, said access to electricity was key to economic growth of every nation  and that Transcorp Power will  justify the confidence reposed in it.

He promised to carry along the host community and the entire Rivers State in operations of the company.

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