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Business
Sunday February 24, 2013
Ex-CBN chief urges FG to provide effective guidelines for SWF
M
r. Titus Okunronmu, a former Director in the Central Bank of Nigeria (CBN) yesterday urged the Federal Government to provide effective guidelines for the take-off of the Sovereign Wealth Fund. Okunronmu told the News Agency of Nigeria (NAN) in Lagos that there was the need for sharing formula guidelines to ensure transparency.
According to him, states will not need the same amount of money at the same time, so the Federal Government needed to devise a way of meeting each state’s demand at different times. NAN recalls that Mr Uche Orji, Chief Executive Officer of the fund, on Feb. 21 after the National Economic Council meeting in Abuja, said it would begin full operations in March.
``If the government saves the money for the rainy day, when do they share it and who gets what? ``Will it get to the states when they need it or when the Federal Government decides to share it?’’ he asked. He said a critical issue of concern was who would control the sovereign fund because the money belonged to the federal, states and local
governments. Okunronmu said that saving money for the rainy day was not a problem but what it would be used for, adding that experience in the past showed that such funds were not judiciously utilised. He urged the Federal Government to implement a sharing formula that would impact positively on the people’s standard of living when the fund became operational.
Sokoto govt spends N3bn on MDG projects T
he Sokoto State Government said yesterday it spent N3 billion to execute various Millennium Development Goals projects in its 23 local governments within three years . The state Commissioner for Local Governments, Alhaji Faruk Malami, told the News Agency of Nigeria (NAN) in Sokoto
that the projects were on health, water supply, women and youths empowerment . According to Malami, several hospitals and primary health centres have been rehabilitated and constructed, while others were equipped. “Several other health facilities were also up-
graded to the status of general hospitals and others were expanded. “Assorted drugs and hospital equipment were also provided to several health facilities. Pregnant women and children under five years are also being provided with free drugs across the 23 local governments of the state.”
Malami further said the measure was aimed at drastically reducing maternal and infant mortality across the state. “The state government is committed to ensuring the attainment of the MDGs goals by the year 2015 in line with the efforts of the countries in the comity of nations.”
Sunday Mirror www.nationalmirroronline.net
Bauchi govt to establish new markets
T
he Bauchi State Ministry for Environment said on Friday in Bauchi that it planned to establish three new markets within the metropolis.
A Director in the Ministry, Alhaji Umar Abulkadir, stated told the News Agency of Nigeria (NAN) that the measure was being taken to reduce congestion in market places. Abdulkadir said that the proposal, which was submitted few months ago, still awaited the approval of Gov. Isa Yuguda.
He said that the ministry intended to establish the facilities for trade in various commodities to make the environment conducive to members of the public. ``Three new markets were proposed and we are waiting for the approval so that the traffic and other congestion will be reduced in market areas. ``After the markets are set up, we intend to make each of them for certain commodities and all the petty traders will also have their stalls to de-congest other markets.’’
NGO enrols 200 female school drop-outs in Taraba
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Taraba-based Non Governmental Organisation (NG0), Youth Progressive Association (YPA), has facilitated the enrolment of 200 female school drop-outs in schools across the state. The Chief Executive officer of the Association, Mr. Boniface Koson, made the fact known in an interview with the News Agency of Nigeria (NAN) in Jalingo. “Our investigation has
revealed that boys occupy 70 per cent of primary and secondary school enrolment in Taraba while the girls stood at 30 per cent. “It is in the light of this inequality that we deemed it fit to sponsor as many girls as possible to strike a balance,” Koson said. He said the NGO had already paid the school fees of the girls and would continue to provide learning materials for them.