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Imo Governor Uzodimma assents to 2024 Apprpopriation Bill

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Imo Governor Hope Uzodimma, on Monday, assented to the 2024 Appropriation Bill of N592.2 billion.

At a brief ceremony after signing the bill into an Act at the Government House, Owerri, Mr Uzodimma said that the success of the budget would depend on the prudent implementation of the items contained in the document.

He assured the people of the state that the budget would act both as a stimulus and catalyst for the growth and development of Imo in line with the theme: “Budget of Renewed Economic Growth.”

“In the history of Imo, there has not been an annual budget with a capital expenditure of over 82 per cent, meaning when implemented, the result will make Imo the envy of other states,” he said.

He commended the speaker and members of the State House of Assembly for the uncommon synergy and conceding to his request to give the bill accelerated hearing and passage.

The governor, who congratulated the Imo people as the ultimate beneficiaries of the synergy between the executive and legislature, promised prudent implementation of the budget.

He urged everyone working for the government to do the same.

He also promised to sustain the cordial relationship and synergy that existed between the three arms of government.

He, however, called for all hands to be on deck to raise the revenue proposed in the budget to enable his administration to ensure total implementation and achievement of the budget target.

He called for strict closure of all revenue leakages in the state, promising to “deal with all those who are fraudulent and the criminally-minded in the government circle.

“Government will be ruthless to any public officer or appointee who engages in fraud and corruption in this administration, going forward.

“I will leave no stone unturned in advancing the cause of Imo,” he said.

Presenting the bill to the governor, the Speaker, Chike Olemgbe, said the bill brought to them was “carefully crafted”, which made their job “easy and seamless”.

According to him, the proposal shows that the governor is determined to give Imo people “renewed overall growth and development”.

The speaker promised that the lawmakers would work as partners with the executive to ensure that Imo people enjoyed the dividend of democracy under his and Mr Uzodimma’s leadership.

He said that the bill passed through all the legislative processes from the day it was presented on December 12 to its passage.

Defence Minister Badaru says Nigeria will take care of its military personnel

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The minister of defence, Muhammed Badaru, has reiterated the commitment of the federal government to the welfare and well-being of members of the armed forces of Nigeria.

Mr Badaru gave the assurance on Monday while inaugurating block of flats built to accommodate personnel of the National Defence College (NDC) at Ushafa, Bwari Area Council of the Federal Capital Territory.

“This accommodation is a tangible expression of our gratitude and recognition of their dedication, as this new living space will serve as a comfortable and secure space for our personnel and their families.

“Let us continue to work together to ensure that our armed forces are equipped not only with tools but also with the support and infrastructure they require.

“Thank you for your unwavering commitment to the service of our nation.

“This accommodation will be a place where you find rest, strength and companionship derived from serving the nation,” he said.

The minister commended successive administrations of the college for bringing the project to reality and congratulated the commandant and the college community for their contributions towards its realisation.

He urged Nigerians to stand united in support of the military that had remained undaunted in defending the nation’s freedom.

The commandant of NDC, Rear Adm. Olumuyiwa Olotu, said the inauguration of the houses was the culmination of the lofty efforts of his predecessors, retired Rear Adm. Oladele Daji and Rear Adm. Murtala Bashir, the 18th and 19th Commandants of the college.

Mr Olotu said the project was conceptualised and started by Mr Daji and completed by Mr Bashir while he undertook the landscaping and water reticulation.

He said the houses would alleviate the shortage of staff housing in the college and enhance their productivity.

“Accordingly, the entire college community remains indebted to the two past commandants for their foresight and resolve in constructing this building.

“I would like to also, on behalf of the college community, express our profound gratitude to all eminent personalities who have contributed to this project.

“Your efforts, resilience and dedication have produced not just this building but have provided a haven that honours our personnel,” he said.

The commandant thanked the former Chief of the Air Staff, Air Marshall Oladayo Amao for donating the entire furniture in the building.

According to him, it is for this reason that the College Committee decided to honour him by naming the building after him.

Navy hands over illicit marijuana haul to NDLEA

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Forward Operating Base (FOB) of the Nigerian Navy, Badagry, Lagos, handed over 11 sacks of cannabis sativa worth N17.6 million to the National Drugs Law Enforcement Agency (NDLEA) in Badagry on Monday.

Navy Capt. Aiwuyor Adams-Aliu, the FOB commanding officer, said operatives seized the suspected cannabis sativa on December 15 at a yard close to Apa community, Badagry.

Mr Adams-Aliu was represented by Lt. EU Okorie, the base intelligence officer.

He said that the Nigerian Navy, FOB, got an intelligence tip-off of suspected smuggling activities within its area of operations.

“The intelligence indicated that persons were sighted offloading products, suspected to be cannabis sativa, at a yard close to Apa, seaside of the FOB Area of Operations.

“Consequently, the Base Response Team proceeded to the scene of the crime for investigation and possible arrest.

“The team conducted a cordon and search operation in the area, and a total of 11 sacks of the suspected products, valued at N17.6 million, were recovered.

“The suspected smugglers fled the scene on sighting our patrol team, while the adjoining communities were also searched but no other products or suspects were found,” Mr Adams-Aliu said.

According to him, investigations are ongoing in conjunction with other security agencies to identify the drug trafficking syndicate and, in due course, arrest and prosecute same.

Mr Adams-Aliu said that since the Chief of Naval Staff (CNS) Vice Admiral Emmanuel Ogalla assumed office, he stated that his mission has been to maintain and equip a professionally competent naval force capable of defending Nigeria’s maritime area of interest in fulfilment of national security imperatives.

“Similarly, the Flag Officer Commanding Western Naval Command, Rear Admiral Mustapha Hussan, launched Operation Water Guard on November 9.

“This operation is aimed at denying smugglers and other criminal elements the freedom of action within Badagry General Area to ensure the security and economic stability of the region.

“Accordingly, these efforts are all geared towards complying with the CNS Strategic Directive 2023-6, which is a safe and secure maritime environment in Nigeria and the Gulf of Guinea,” he said.

Mr Adams-Aliu said that the 11 sacks of the suspected products were handed over to the NDLEA line with the Harmonised Standard Operating Procedures for Arrest, Detention and Prosecution of Persons 2016.

Receiving the exhibit, Ogomegbunem Nwadui, deputy commander narcotics, representing Owen Dinneys, area commander, Seme special command of NDLEA, promised that an investigation would commence on the seized items.

Mr Dinneys said anybody caught dealing in illegal drugs and smuggling them into the country would be punished according to the law.

He commended the Nigerian Navy on the seizures, assuring them of their collaboration in fighting the drug war.

Tinubu Asks NNPC Board to Live Up to Expectations

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President Bola Tinubu has warned the Board of the Nigerian National Petroleum Company Limited (NNPCL) that non-performance will not be tolerated.

Tinubu disclosed this on Monday during the inauguration of the Board of the NNPCL at the State House, according to a statement by Ajuri Ngelale, presidential spokesperson.

President Tinubu warned NNPCL members against conduct suggesting a sense of entitlement that the board could be dissolved without prior notice to members over non-performance.

He urged the board to hit the ground running in developing the country’s oil sector.

“The challenge is corporate governance. Yes, we will improve the security situation. We are working very hard. Sincerely, the Chief Executive Officer, Kyari, is doing very well and doing all that I know.

“But you could be suddenly dissolved if there is no sustained excellence in performance. It is my honour to inaugurate this board, which has people of great integrity. I am honoured that we are doing this. I recognise all of you,” he said.

President Tinubu said corporate social responsibility for the Niger Delta must be taken seriously, considering the devastating effects of oil exploration and exploitation on the environment.

“Niger Delta must be seen as the goose that lays the golden egg, and we must treat that region with the deserved respect and care. It is not asking for too much to ensure quality and constant water supply, schools, medical facilities, and roads.

“It is not about us. It is about the entire country’s well-being and the nation’s lifeblood. We should care more about the environment. We will do more for security to minimise stealing and vandalization,” he stated.

The President directed that more attention should be given to gas as Nigeria transitions to cleaner energy, saying, “We need to show that we are committed to the welfare of our country.”

He said further: “Look at the Petroleum Industry Act (PIA) and know the pitfalls. The Cabinet members and Board should decide what we can do differently for production increase, profitability, and governance. It is in your hands. I will work with you.”

In his remarks, the chairman of the board, Chief Pius Akinyelure, commended the President for removing the petrol subsidy, noting that the nation would have drowned in debt but for his decisiveness.

“Our focus is to increase production. We must address the problem of stealing and pipeline vandalization in the Niger Delta. We are aware of the efforts in the past, but we will do more,” he said.

Mr Tinubu appointed a new board of NNPCL in early December this year.

NGX records marginal gains

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Trading at the Nigerian Stock Exchange Limited started the week positively as the All-Share Index appreciated by 0.02 per cent to close at 72,404.91 points.

According to the figure of Monday’s trading, the market was characterized by a relatively low turnover value and volume as investors are expected to wind up their accounts for the year.

Equities gained N8.6 billion as the market cap closed at N39.621 trillion.

There was an appreciation in trading volume to 324.25 million units, up from last Friday’s 307.15 million units. However, there was a decline in trading value to N4.40 billion from last Friday’s N6.57 billion.

Accordingly, top Gainers are INFINITY, +9.93 per cent to close at N3.10, JOHNHOLT, +9.87 per cent to close at N2.45, TRANSCOHOT, +9.38 per cent to close at N51.30, SCOA, +8.62 per cent to close at N1.89 and FTNCOCOA, +7.53 per cent to close at N1.57.

Meanwhile, losers are ABCTRANS: +9.89 per cent to close at NO.82, ETRANZACT, +9.42 per cent to close at N6.25, RTBRISCOE, +8.33 per cent to close at N0.55, SOVRENINS, +7.69 per cent to close at N0.36, NAHCO, +7.60 per cent to close at N25.00.

In terms of volume, MBENEFIT (-4.00 per cent) led with 42.08 million units, followed by UBA (+0.41 per cent) with 28.72 million units, TRANSCORP (+0.14 per cent) with 24.09 million units, STERLINGNG (-1.20 per cent) with 20.21 million units, ZENITHBANK (-0.13 per cent) with 17.15 million units.

In terms of value, UBA (+0.41 per cent) led with N689.91 million, followed by ZENITHBANK (-0.13 per cent) with N635.32 million, MTNN (0.00 per cent) with N593.55 million, GTCO (-0.75 per cent) with N434.22 million, and ACCESSCORP (-0.90 per cent) with N343.17 million.

Trading was quite harmful to tier-1 banks as GTCO (-0.75 per cent), ACCESSCORP (-0.90 per cent), ZENITHBANK (-0.13 per cent), and FBNH (-0.43 per cent) recorded price declines, while UBA (+0.41 per cent) recorded price gain.