Business
FG Inaugurates Technical Sub-Committe On Naira-Based Crude Sales To Local Refineries
Joel Ajayi
In a significant step towards enhancing Nigeria’s refining capacity so as to promote economic growth and development of the country, the Federal Government has inaugurated the Technical Sub-Committee tasked with developing the framework for the sale of crude oil to local refineries in Naira.
The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, while inaugurating the Committee today in his office in Abuja, stated that the initiative, aligns with the presidential directive, aimed at revolutionizing the energy sector by reducing reliance on crude oil exports and fostering local expertise.
The inauguration took place following a stakeholders meeting where government officials and representatives of local refineries, including the Dangote Refinery, gathered to discuss the implementation of this strategic directive.
The committee, which includes the Permanent Secretary of the Federal Ministry of Finance, Mrs. Lydia Shehu Jafiya, the Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr Zacch Adedeji as well as representatives from the Nigerian National Petroleum Corporation Limited (NNPCL), Central Bank of Nigeria (CBN), Afrexim Bank, Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has the critical role of crafting a robust template that will ensure the successful implementation of the initiative.
In his remarks during the inauguration, HM Edun emphasised that this initiative is part of a broader strategy to position Nigeria as a refining hub, which will significantly boost the economy through the reduction of reliance on crude oil exports and fostering local expertise in the energy sector.
While commending the members of the committee for their dedication and anticipated contributions, the Minister urged them to work diligently in order to meet the expectations set by the presidential directive.
He reiterated that the ultimate goal is to transform Nigeria’s energy sector into one that is self-reliant and globally competitive.
With the inauguration of the Technical Sub-Committee, under the leadership of HM Edun, Nigeria is poised to witness a transformative shift in its energy landscape, especially with the task on the Committee to craft a robust framework for Naira-based crude sales, paving the way for a self-reliant and globally competitive energy sector.
As the nation embarks on this strategic journey, the ultimate goal of boosting economic growth, reducing poverty, and enhancing refining capacity is within reach.
Thus, the Committee’s diligent work will be instrumental in unlocking Nigeria’s full potential, and their contributions will be pivotal in shaping a brighter future for generations to come.
Business
Court Orders Arrest Of Wike-led FCTA Director, 10 Others
By Aliyu Galadima
An Abuja High Court has issued a bench warrant against the director of investigation and prosecution of the FCTA, Joseph Eriki, and 10 others.Justice Suleiman Belgore has issued an order to compel the director and others to appear before the court for a suit filed against them.
The Judge’s decision followed the application of the prosecuting counsel, David Kaswe, who lamented the failure of the efforts to ensure that the suspects appear in court.
Justice Suleiman Belgore of the High Court in Abuja has issued a warrant of arrest against Joseph Eriki, the director of investigation and prosecution of the Nyesom Wike-led Federal Capital Territory Administration ,FCTA, and 10 others.
The judge had issued the order to compel the appearance of Joseph Eriki and 10 others before the court, as they had been arraigned in a suit filed against them by the federal government.
The warrant was issued following an application by the prosecution counsel, David Kaswe, who stated that all efforts to ensure the suspects’ presence in court had failed. Kaswe informed the court that the prosecution had made several attempts to notify the suspects’ lawyers and sureties, but to no avail.
He cited Section 124 of the Administration of Criminal Justice Act ,ACJA, which allows for the issuance of a bench warrant to compel attendance in court.
The court agreed to the application, issuing the warrant to ensure the suspects’ appearance for arraignment on a six-count charge. The charges against the suspects include criminal conspiracy, criminal trespass, forgery, and using a forged document as genuine.
They are also accused of using criminal force to deter a public servant from performing their duty. The suspects allegedly entered a plot of land belonging to Etha Ventures and constructed structures without authorisation, to defraud the company.
According to the prosecution, the suspects fraudulently obtained a consent judgment for the land, which was given to Super Structures Limited. The case has been adjourned until June 4 for arraignment.
The court’s decision to issue a bench warrant highlights the seriousness of the allegations and the need for the suspects to face trial. The suspects are facing a six-count charge, which was filed in February.
The court’s ruling emphasises the importance of a speedy trial and the need for the suspects to be held accountable for their actions.
With the bench warrant in place, the court is taking steps to ensure that the suspects appear in court and face the charges against them
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