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FG announces launch of presidential delivery tracker and website

by Radarr Africa
written by Radarr Africa

On Tuesday, The Federal Government launched the presidential delivery tracker and an accompanying website developed by the Central Delivery Coordination Unit.

Ultimately designed to track, The PDT/CDCU reviews and periodically reports the activities of MDAs, its performances of ministers and permanent secretaries among others in the delivery of ministerial mandates.

Economy, agriculture, energy, transportation, infrastructure, industrialization, education, healthcare, security, anti-corruption, governance, poverty reduction and social inclusion which, since 2019, formed the ministerial mandates signed by ministers and their permanent secretaries are the key areas under review.

The Secretary to the Government of the Federation, Boss Mustapha speaking after the launch at the State House Banquet Hall said the CDCU would track the implementation of policies, programmes and projects of ministries along the nine priority areas of the Federal Government.

He gave the stakeholders assurance that feedback received that the deserved attention from both platforms.

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AfricaAFRICA NEWSEconomyNewsNigeriaWestern Africa

‘Tax the rich, increase salaries by 50%’, NLC writes to the Federal government of Nigeria

by Radarr Africa
written by Radarr Africa

The Nigerian Labour Congress (NLC) has asked the federal government of Nigeria to raise taxes across the board for the ‘rich’ and ensure that governors above 50 years resign. 

The union made the recommendations in a letter signed by Ayuba Wabba, NLC’s president and sent to President Muhammadu Buhari. 

The letter, dated August 8th, was in response to recommendations made by Nigerian governors in July. 

As part of the recommendations, the governors had asked the FG to raise VAT to 15 percent and offer public workers older than 50 years a one-off retirement package to avert the looming economic crisis.

The governors’ proposals were said to be part of coordinated efforts to instil fiscal discipline and prevent the nation from imminent economic collapse. 

But NLC said the implementation of the retirement proposal would lead to the sacking of about a quarter of the public sector workforce.

“Pursuant to this, if state governors strongly believe that age 50 is the problem, we demand that all governors, public office holders and politicians above 50, as a mark of good faith, should immediately step aside. Leading by example would spur public servants to take a cue,” the letter reads.

Due to current global realities, the workers’ union asked the federal government to make a 50 percent salary review.

“While we commend you for your thoughtfulness for a wage increase, the truth of the matter is that given the misfortune that has befallen the Nigerian populace, especially workers with fixed incomes, there is an urgent need for a massive intervention much deeper than the 22 percent. We would recommend a 50 per cent salary review across the board given the realities on the ground,” the union said.

Speaking on the governors’ proposal on the increment of value-added tax (VAT) levels to 10 percent with a timeline to further raise it to 15-20 percent and introduction of a flat rate of 3 percent, the union said it would adversely affect the underprivileged.

“These recommendations seek to make the poor pay more taxes while the rich pay little or nothing in clear violation of the well-known norm of the rich paying taxes to cover up for the poor.”

It urged the federal government to “raise taxes across the board for the rich, including increased taxes on luxury goods and lifestyles”.

Speaking on the governors’ suggestion that foreign trips by MDAs, including budgetary-independent agencies, the union said it does not canvass for a total ban.

“Foreign trips ordinarily serve their useful purposes, but they have been abused by MDAs, especially budgetary-independent agencies such as the CBN, FIRS, NPA, MIMASA, NCC, NITDA and other blue-chips. This acts as a big drain on our resources. Accordingly, while we do not canvass for a total ban, there should be some control, a limit to foreign travels. The number should be pegged per year until we have a turn-around,” it added.

The union disagreed with the governors on petrol subsidy removal, saying it “could lead to unintended consequences which we would be better off without”.

“Truth is that the little benefit the average person in Nigeria enjoys could lead to unintended consequences which we would be better off without,” it said.

“The solution to subsidy and the ballooning deficits lies in domestic refining, effective management of our refineries, and creating an enabling environment for effective and efficient public sector leadership in the building and management of local refineries.”

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“We do concede that a quick and enforceable resolution of the conflicts around ownership of gas in various entities is key to freeing up investment space for foreign direct investment and local businesses in the country.

“Sadly, prolonged inter-agency fighting has become a familiar feature of your government. You would need to put your foot down pending the paperwork.”

It, however, supported the governors for quick implementation of the updated Stephen Oronsaye Report.

The union also supported the governors’ suggestion for the centralisation of the collection of all federal oil and non-oil taxes in one agency.

Source: The Cable

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AfricaBusinessNewsNigeriaOil & GasWestern Africa

FGN shuts Scorpion Oil Services over irregular operations

by Radarr Africa
written by Radarr Africa

The Federal Government of Nigeria has shut down the diving operations of Scorpion Oil Services onboard MV African Installer offshore Lagos, Nigeria, for operating without the requisite approvals and violating the provisions of the Factories (Diving at Work) Regulations, 2018.

The decision to close operations of the company followed a monitoring exercise conducted by the Federal Ministry of Labour and Employment, led by the Director of Factories of the Federation, who is also the Director, Occupational Safety and Health department of the Ministry, Lauretta Adogu and the Chief Inspector of Diving, Julius Ugwala.

In a statement by the Head, Press and Public Relations of the Federal Ministry of Labour and Employment, Olajide Oshundun, Adogu stated that the monitoring exercise was aimed at ensuring full compliance with Nigeria’s Factories (Diving at Work) Regulations, 2018.

She said the diving operations being carried out by the contractor, Scorpion Oil Services, posed huge threats to the divers, as an on-the-spot assessment also revealed that the company was using inappropriate equipment and unqualified personnel.

Adogu said that Scorpion Oil Services also disregarded the Local Content law, with the operations wholly dominated by foreigners.

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She said: “The operators did not comply with the Factories (Diving at Work) Regulations, 2018. The Regulations stipulate that before any diving operation commences within the Nigerian territorial waters, there must be an authorization approval issued by the Director of Factories of the Federation.

“Additionally, the Local Content law says Nigerians should be considered first for such operations, but the operators did not meet that requirement, as the place was filled with expatriates.

“Diving operations must get authorization approval before commencement, and this company has not requested any approval and does not have one.

“The company is being closed for non-compliance to these, and work here has been prohibited.”

Source: The Nation

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BusinessSpotlightWestern Africa

JPMorgan wins $1.7bn UK court battle over FGN transfers

by Radarr Africa
written by Radarr Africa

JPMorgan Chase & Co won a $1.7 billion London court battle with the government of Nigeria over its role in the transfers of hundreds of millions of dollars to a former oil minister accused of corruption.

Nigeria’s government said a contract awarded by one of its predecessors to explore the deep waters off the Gulf of Guinea to Dan Etete was corrupt. But Judge Sara Cockerill ruled Tuesday the Nigerian government couldn’t show that it had been defrauded.

At a six week trial, Nigeria argued that the US investment bank acted negligently when it transferred $875 million in funds between 2011 to 2013 from government accounts to Etete, who had been convicted of money laundering. The case examined the extent of a bank’s duty of care toward clients, and whether it should have halted payments even if that meant overriding assurances from government officials.

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Nigeria alleged that the bank ignored “glaring” red flags, including “overwhelming” evidence of fraud and stark warnings from its own compliance staff when it authorized the payments. The west African nation was seeking damages of around $1.7 billion including interest.

It may be that “with the benefit of hindsight JPMorgan would have done things differently,” the judge said. “But again none of these things individually or collectively amount to triggering and then breaching” its duty of care to its client.

Judge Cockerill said that by the time of the 2013 payments, the bank was “on notice of a risk” of fraud. “There was a risk – but it was, on the evidence, no more than a possibility based on a slim foundation.”

“The Federal Republic of Nigeria is naturally disappointed by the outcome of the judgment and will be reviewing it carefully before considering next steps,” a spokesman said. “The FRN will continue its fight against fraud and corruption and to work to recover funds for the people of Nigeria.”

“This judgment reflects our commitment to acting with high professional standards in every country we operate in, and how we are prepared to robustly defend our actions and reputation when they are called into question,” JPMorgan said in a statement.

Source: MoneyWeb

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