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Buhari leaves for germany today

Buhari leaves for germany today

BUHARI LEAVES FOR GERMANY TODAY

BY OMOKHUALE PUAH

As part of the goal of moving the country forward, the President of Nigeria, Muhammadu Buhari would Thursday, be on an official visit till Sunday at the Federal Republic of Germany.

The purpose of his visit to Berlin is to confer with the Federal Chancellor Angela Merkel on certain issues of shared interest between Nigeria and Germany which would include further cooperation on security, humanitarian situation of Internally Displaced Persons (IDPs) and the restoration of the North-East, including trade and economic relations of both countries.

In regards of the plans drawn by the president, he would be accompanied by the Governor of Borno state, Kashi shetima and the Governor of Imo state, Rochas Okoroafor, coupled with representatives of the National Assembly, to the Federal President Joachim Gauck.

Still as part of the administration’s vision, the President would be in Kaduna on Saturday with leading German companies who are already in Nigeria alongside other prospective investors so as to attract more foreign investment and create economic opportunities in Nigeria.

Still on his view of moving the nation’s economy forward, president Buhari before returning to Abuja would meet with the various Nigerian ambassadors in Germany.

His major purpose is to create and restore the cordial relations countries enjoy in the basic areas of bilateral cooperation with the Federal republic of Germany in areas of terrorism, economic relations, the support of IDPs, rebuilding of the North-east, vocational training, cultural relations and energy partnership.

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Neiti begs Buhari to lead Pib

Neiti begs  Buhari to lead Pib

NEITI BEGS BUHARI TO LEAD PIB

BY OMOKHUALE PUAH

The Nigeria Extractive Industries transparency initiative (NEITI) in a brief policy has revealed that Nigeria loses $200 billion each year, as a result of the non-passage of the petroleum industry bill (PIB).

In the brief, an alert to the nation of the fact that another $15 billion gets lost every year, on fresh investments to regulatory uncertainties.

NEITI urged the Nigeria President, Muhammadu Buhari to be in lead and thrust urgency in passing the PIB, as this is part of the ways to ensure the country could overcome her economic challenges.

In the policy brief which was titled “The urgency of a new petroleum sector law”, the NEITI noted that “the process of enacting a law for the Nigeria’s petroleum sector has gone on for so long and at a very huge cost to the country, because it seeks more urgency and a better coordination in getting the important bills passed”.

It was also noted that the PIB is one of the most important bills to be ever contemplated by in the history of Nigeria and yet the one that has exhausted so much time and generated its activities without legislation.

According to the NEITI, as an agency set up to enthrone transparency and accountability, in the extractive industry, NEITI has a legitimate interest, drawn from the petroleum law of the country.

It further disclosed that the setbacks suffered by the bill were not due to poor understanding of the problems nor its deficiency in expert input, but mainly disappointment among stakeholders on “regulatory framework; power of the minister ownership and control of resources, host community benefits, environmental concerns and appropriate fiscal regime and in the process, all administrations have produced their own PIB draft(s), but not the law’’ it says.

NEITI further stated that looses incurred by the economy have been really high; the hemorrhage on Nigeria’s foreign reserves and value of naira due to the importation of over $26.4 billion worth of refined petroleum products that should have been done locally and loss of jobs in hundreds of thousands by Nigerians.

NEITI added that, there is no evidence that Nigeria has learnt from its past experiences to guarantee a difference in the present journey.

They further recommended the task of an inclusive team as the President, Buhari takes the lead and charged with building consensus among the stakeholders.

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BUHARI APPROVES N241.5B BUDGET

BUHARI APPROVES N241.5B BUDGET

BUHARI APPROVES N241.5B BUDGET

BY OMOKHUALE PUAH

The President of Nigeria, Muhammadu Buhari has signed the 2016 Federal Capital Territory (FCT) Abuja’s Appropriation Act.

This statement was made by the Senior Special Assistant to the President on National Assembly Matters, Senator Ita Enang.

As stated by Senator Enang, President Buhari endorsed the N241.5b 2016 FCT budget, as issued by the national assembly.

According to the adviser to the president, “The legal endorsement of the FCT budget came into effect which will result in employment of both the formal and informal sectors through project implementation and employment”.

Based on the statutory corporations and agencies, Sen. Enang said that some Nigerians questioned the fact that the budgets were laid before the national assembly, but explained that the president directed the budgets of listed agencies to be listed before the National Assembly also with its Fiscal Responsibility Act 2007 also with the independent of the annual Appropriation Act.

According  to Enang, the agencies listed involves, Nigerian National Petroleum Corporation, Nigeria  Deposit Insurance Corporation, Bureau Of Public Enterprises, Nigeria Agency For Science And Engineering Infrastructure, Nigeria Social Insurance Trust Fund, Corporate Affairs Commission, Nigeria Airspace Management Agency, Nigeria Shippers Council, National Maritime Authority, Raw Materials Research And Development Council, Nigeria Civil Aviation Authority, National Sugar Development Council, Nigeria Postal Service, Nigerian Ports Authority, Federal Airport Authority Of Nigeria And Nigeria Mining Corporation.

In his words, “It is highly required by the law that the National Assembly should always consider and pass such budget, because what amounts to the total expenditure of the country is gotten from what is spent in the national budget, in addition to the total annual expenditure”.

He further said that “based on the vacancies created by retirement, the new employable vacancies are determined by the budgetary requirements of the agencies, as approved by the National Assembly”.

Also in his statement, the budget will increase non-oil revenues that are internally generated, since the agencies are under law of keeping 20 percent of their operational surplus and remitting the remaining 80 percent to the FG.

 

“This method of Appropriation will ensure that no revenue is hidden, because the eye of the National Assembly is solely upon the Act”.

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