News
RMAFC Reafirms Commitment To Recomend Appropriate Renumeration For Public, Political And Judicial Office Holders
Joel Ajayi
The Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Dr. Mohammed Bello Shehu, OFR, has reiterated the Commission’s commitment to upholding its constitutional mandate of reviewing and recommending the remuneration of political, public, and judicial office holders in accordance with the Act establishing the Commission.
Dr. M. B. Shehu stated this when he received a delegation from the Iinvestment and Security Tribunal (IST) led by the Chairman, Hon. Amos Isaac Azi, who came on a courtesy visit.
Dr. Shehu assured the delegation that the Commission would conduct a thorough review of the IST’s salary structure to ensure alignment with constitutional provisions.
Commending the tribunal for its critical role in Nigeria’s capital market, Dr. M. B. Shehu, acknowledged its global recognition as one of the leading specialized tribunals, noting that similar models have been adopted internationally. He emphasized the tribunal’s significant contribution to investor confidence by efficiently resolving disputes among investors, companies, and individuals, thereby ensuring stability in the financial sector.
“We recognize the remarkable work being done by the IST, and its reputation as a model tribunal in capital market adjudication is well deserved. Your role in ensuring swift and fair dispute resolution is instrumental to investor confidence and market stability. Given the importance of your work, it is only right that we give due attention to your remuneration structure to ensure it reflects your responsibilities,” Dr. M. B. Shehu stated.
The Chairman emphasised that the Commission would revisit the matter with a renewed sense of urgency. “We understand that processes like these take time, as they require comprehensive review and input from various stakeholders.
However, the Commission will ensure that this matter receives the attention it deserves. We have within the Commission highly experienced legal professionals, including a commissioner with extensive expertise, who will oversee the review. Once their findings are concluded, we will make a final recommendation.”
Earlier in his address, Hon. Amos Isaac Azi disclosed that the purpose of the visit was to seek the support of RMAFC in ensuring that the remuneration of the Chairman, members and Chief Registrar of his organisation should be equivalent to that of the Chief Judge, Judges and Chief Registrar of the Federal High Court respectively as enshrined in section 220 of the Investment and Security Act 2007.
He expressed gratitude to Dr. M.B Shehu for the promp attention given to them and praised the Commission for its steadfastness and commitment to the implementation of its mandate.
Speeking further, he said, “As the custodian of investment dispute resolution in Nigeria, the Investment and Securities Tribunal must remain a beacon of efficiency and investor confidence. Just as the law mandates parity in remuneration between the Tribunal and the Federal High Court, so must its implementation reflect this statutory provision without delay,”
Hon. Azi also highlighted the tribunal’s achievements, including the resolution of over ₦1.3 trillion worth of disputes in favor of investors and government agencies, and its pioneering role in introducing verbatim transcription and virtual hearings in Nigeria.
The IST Chairman presented the Nigerian Investment and Securities Tribunal Law Reports, a publication showcasing its commitment to legal excellence and transparency in capital market adjudication to the Chairman of RMAFC
In her vote of thanks, Hon. Rakiya Tanko Ayuba Haruna, mni, Federal Commissioner representing Kebbi State in RMAFC, expressed appreciation for the IST’s engagement with the Commission .
She reaffirmed RMAFC’s dedication to ensuring that all public institutions receive fair and just remuneration, in line with constitutional provisions.
“RMAFC remains committed to reviewing and recommending appropriate remuneration structures, ensuring compliance with constitutional mandates while supporting institutions like the Investments and Securities Tribunal in their efforts to strengthen Nigeria’s financial sector,” she said.
News
FG Commits To National Development With Major Contract Agreements — Umahi
Joel Ajayi
The Federal Government, through the Federal Ministry of Works, has again signed landmark contract agreements with four (4) construction firms to execute critical road projects across the country, in line with the Renewed Hope Agenda of the administration of President Bola Ahmed Tinubu, GCFR. The contract signing ceremony, held on Thursday at the Ministry’s Headquarters in Mabushi, Abuja, marks another major step in the Federal Government’s commitment to delivering durable, sustainable road infrastructure that enhances connectivity, stimulates economic growth, and improves the quality of life of Nigerians.
The four contractors and their respective projects are as follows:
1. Messrs J. Patel and Sons Nigeria Limited – Reconstruction of Mando (Kaduna) – Birnin Gwari Road in Kaduna State,
2. Messrs JRB Construction Company Limited – Dualisation of Ibadan–Ijebu Ode Road in Oyo and Ogun States,
3. Messrs Truecrete Solutions Limited – Construction of Osogbo–Ikirun–Akoda Road in Osun State and
4. Messrs Peculiar Ultimate Concerns Limited – Construction of Osogbo–Iwo–Ibadan Road in Osun and Oyo States.
Speaking during the event, the Honourable Minister of Works, Engr. David Umahi, CON, FNSE, FNATE, described the projects as strategic national infrastructure designed to boost economic activities, improve transportation efficiency, and strengthen national integration. He noted that the reconstruction of the Mando (Kaduna) –Birnin Gwari Road in Kaduna State holds special significance, as it was one of the key infrastructure development commitments made by His Excellency, President Tinubu during the 2022/2023 electioneering campaigns. According to the Minister, the present administration remains resolute in its determination to deliver world-class infrastructure that will stand the test of time. “Our vision is to build roads that will last for generations. Under the Renewed Hope administration, we are determined to deliver infrastructure that can serve Nigerians for up to 100 years through the adoption of rigid pavement (concrete) technology,” Umahi stated.
The Minister commended the selected contractors for their competence, track records, and proven capacity, emphasising the Federal Government’s confidence in indigenous contractors. He particularly praised Messrs JRB Construction Company Limited, Truecrete Solutions Limited, and other indigenous firms for their commendable performances on previous projects across the country.
Umahi charged all contractors to mobilise to their respective project sites immediately and commence work without delay, stressing that the Ministry expects measurable progress within the stipulated timelines.
Earlier in his remarks, the Permanent Secretary, Mr. Rafiu Olarinre Adeladan, who formally signed the contract agreements, described the occasion as the successful completion of the procurement process and the official commencement of project implementation.
He commended the leadership of the Ministry for its commitment to ensuring that projects reached the execution stage and reaffirmed the Ministry’s dedication to effective monitoring, quality assurance, and timely delivery.
Also speaking, the Director of Highways, Construction and Rehabilitation, Mr. Clement Ogbuagu, presented details of the awarded contracts as follows:
1. Reconstruction of Mando–Birnin Gwari Road, Kaduna State
Contractor: Messrs J. Patel and Sons Nigeria Limited
Contract Sum: ₦178,116,787,162.00
Length: 122 Kilometres
2. Dualisation of Ibadan–Ijebu Ode Road, Oyo and Ogun States
Contractor: JRB Construction Company Limited,
Contract Sum: ₦295,996,609,992.77
Length: 114.5 Kilometres (Single Carriageway Equivalent)
3. Construction of Osogbo–Ikirun–Akoda Road, Osun State
Contractor: Truecrete Solutions Limited
Contract Sum: ₦101,806,585,825.90
Length: 70 Kilometres (Single Carriageway Equivalent) and
4. Construction of Osogbo–Iwo–Ibadan Road, Osun State
Contractor: Peculiar Ultimate Concerns Limited
Contract Sum: ₦114,854,477,607.93
Length: 73 Kilometres
All the projects will be executed using Continuously Reinforced Concrete Pavement (CRCP) technology, in line with the Federal Government’s commitment to building durable, cost-effective, and sustainable road infrastructure nationwide.
The ceremony represents another significant milestone in the Federal Government’s drive to modernise Nigeria’s road network and accelerate national economic development.
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