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busf.lntlSS iC Ih!'nilliononilneng ne!

IFAD signs $10S.2m pad with Fed Gov!

on agric scheme From Olugblngfl Ad'Alkin, Atoui_

PaIl of it:1 commit menl 10 de,'elop the


tion'sagJicr.ector. the

International F~ fell' AEricuItural DevelopmlT!t (J~AD). through its IFAD, N,i~ D!-

velopmrnl Valull Chain Programme yeste.:day si£fltd an ~t witt the naeraJ GoYemIJ1eI1t on a 6 ~ asri:'

~::~2su~.II\.5dte.nevalUed '!he~\\m.h~~

ilt II1I:reilSIIlS proW Idton Ol rice

and cassavA.$ indud!!!l a credit fllCility of S14S million aoo5sible bv smallscalt (a,rmer.; and a '!f"1jrnent JM!rioo; I (of 4OyaB. Signalorie; to tlte financing agreement were !he! I.tiniste- Of

NEITI: DPR, oil firms frustrate recovery Of $8 8b -s,n<y.

FORMER Nigerian Extractive Industries Tnlnsparency lnitialive chair Pro[ Assisi Asobie has al leged that Ihe Departmen t of Petroleum ResOurces\OPR) and oil companies rustrated efforts to enforce remediation acliOn involving S8.8bi llion underpayment in royalties to government. He said the figures were re\·ealed in audit reports COlo'· ering 1999 and 2008. ~i e. who spoke yesterday in Abuja. white handing-over to the Nationa l Stakeholde rs' Working G roup of NEITI led by Ledum Mitee. said efforts to r ecover Ihe moniel were hampered by the OPR.

From John Ollkhenua, AbuJHe said.:" 'Qur attempt to implement the remediation action recommended in the au-

<ti'"""" OPR.lnitially. ..... edidnot Mve w,", ""''''''

by ..,

the capacity to dctennine the actual iUTlOUnt underpaid. but later they clome to oy the amount was actually more than our audits stated. which is understandable beoIuse the audilsampled the industry. "When we asked them what the new amoun t was. they were not forthcoming. and these are some of the chal·

lenges you wiU fllO.! and the pl'1.'SSUfe is much. Most com~esdonot pay lheamount of royalties stipulated in the la w and notJiin& is being done by those in charge." hi! adde:L He explained after waiting endlessly for the OPR, NEm wrote to the companies to pay up. uying. "the companies wrote usback direcbng us to read the NEITI Act." " They pointed out Ihal ours is to ensure thai they paid the money. but not to actually collect the money because we are not a revenue

Thot " - dH""m. you hlllve to.solve," he ~j~. He exphnned that It II more important for the new board to pursue public accountabihty in the app lication of oil revenues by variOUI levels of governme n ts across the country llIS contained in llle NEIll Act. Asobie s tressed that while the global body. Extractive Industries Transparency lnilialive (Em) requires only revenue now; NEITI Act hM a broad demand on Ihe agency. Mitee thanked Asobie and hill board on their achievements. assuring them that the nr, ..... board would build on the foundation they laid.




Em manu ~ 1

Obals bona (Iefl). EI~c uti .. e Dir~ctor/C roup


Nigeria Drn!loplnt!nt Value Chain PTognImn e which is what we are nag;i. 19 off to-day b value.:i al SIOS.2mll-

and Eucutlu Directo r.

l~~D"~t ~'Strrm~~~


Mr. hmi Olatoku

Commercial Nis~rla

and srantofSlJSlnillion. The crc<hl is(ln third f I~n and the


Ptc, Ib rahim

K.... usaRa al Ihe NefF mee tin s .ponloled by UBA

al Co tonnades Hotel. Ikoyl. Lagos on ... ye.lerday.


Stale Govt'lTlOr. beni Rauf Aregbesola has un· veUed a ~\'e plan to boost the5late's~~ through Foreign OLrectlnvestment (F01) and partnership w ith N. $in idiaspora.

From Ayoclet, Am tn u, Group BUlin.· I EdIIO'

We are focusmg on our areas of wmparath·e iid\'antlv. vis-



by the Deputy Governor. Otunba rill laoyeTomori, lot th~ Nige nan Oias~ Trade and rn\·eslment Summit held at the CenIre for Black Cullure and In-

istration is set to compete al a gIob.lIle\·el to ~ outpul ofashcropssuch;,sCocoaand palm oil. among others. "The state 15 primarify an agrarian .society that 15 fa\0ure3 with fertile soiJ which supports ro· \·erserangeofagriculruralproducr..botfiOlShiruJfoodcmp51heselnduderam.maiu.cas$iI\'a, millet,. planWn and rice. Cocoa and~m produce are

He said the Osun Rtual FPte!'RIi,S!5• .An.!l ..~gricultural Progr'ai'ruTie(Q'REAP)isaprelode to ~tatea rt"VO/ution in the agriculture sector. ""\Ie I.fe preparing the sector for full inaustnal development. We are fully aware tnat modern farming is no longer restricted 10 reeding alone. It is also motivated by money. where farmers will

government has already embarked on strat~ intervl'fltionby reo."aJ1\pingtheold farm settlements thai were key ell'ne\ts of the sucte'iS recOrded in ~tw"e in the old Westem .Region. With stable polity and arable 1<!nd5. he said throuWt inve;t· mentinagricu1ture.llisadmin-

Ond only to Ondo Stale in coroa production. ~ ~besoIa .said. ""Ve havesu1Ce tile ~tion of our gO\'emment designed policies and programmes aimed a l engendering eco· 1lDITLicde\·eiopmentinthestate These poIioes are already m full thioltle Implementation

menl of our goals. we have embarked on strategic in tervention by ~amping the old farm settlements that were key elements of the succt'ss r«urded in agriculture in the old Western ReSion.~ A~besola stated. The Governor said feeder ruadstofarmingrommw\ilies

b I • A r~g uo a

are being opened up to fac:ili-

to other countries. stressing thai the state is Iinldng its agncultural production pr~ ramme wi th the N3billion daily food marlcet in lagos with the regional m;uket al Da~u. wl1ere agricul· lural goods converge fOr onward <iistnbution to other ilI-


How to achieve single window systems, by Dikko




Labour Minister Em~ka Wagu. who read the commu-

~~! of theO:~:f': ~~ subsidy scllm should endeavour to sUbmit to the ongoing "enfication exer-




The minister added that the Federal Governmenl and th~ unions a~ to wor1c together towards finding a lasting solution 10 aU the issues in dispute. According to him. the meet-. ing confinnect that the Fede~


~~~!th~ ~~ Ie\~~~~ ~~cr.T!\~!~: f:he~if:: :etri~ti:~a~::=



tinue to poly all claims so ,"en· lied. He noted that the meeting set up a two sub committees 10 look into issues co ncernin g Wlfair labour practices in the Shell Petroleum Development Company (SPOC) and Of penalty clauses in the Petroleum Products Price Regulatory

Investment Summit: Osun to boost agrie, says Aregbesola

.....ho was rep~


off. And "'('will be Ufting prod. ucts in the north. We ta lked abou t the ~ o~





The strikeaction has bee1a1kd

Et..c:tt1)Tli( Fraud

~!il":ro~~d~~ ~':J::?d: . . f11c IFAD



UNIOR o il ..... o rkers lasl night w ithdrew their strike threal after a ~ Lth governmen t officials in Abuj;L The National Union of Petro1t'Ul1\ and Natwal Gas Workers (NUPENG) also called on fuel marketers to resume salt' of products in Ahuja wtw-re fuel scarcity has been biting for more tfian one week.. They had Ihre.atened 10 ~tt1 strike this week if outstariding subsidy cash is not paid to marke ters. Yester day'S meeting lasted 0\'8' 5e\'en"hours. NUPENG President Com· rade igwe Achese ronfinned the soli pedaling by the labour from the Minister of labour.

Ch alrnlln, N1seriln

Adesina and IFAD President,


From JohTl Oflkhenua,

~1e. said:" You ha ve heard

Flnancrand CoordIl11~Min­ ister of the Eoonoct} I Of. Mrs. Ngoa:i Oir:onp.[weil;l. Minister orAgritul~and "lurallJeo.'eI· opment, Dr. Akinwumi

millisl!!'r of iI~ricullure will spell ou, the exa :1 rale and whal il will be us!( for." Iweala stakd 11<1 federal gO\·emment. state J 'L nd councils will llIlso prc ... ide counterpart fund conbit UtiOIlll to the lune of S31 2 m illion. stressing that the iUpport 15 a demonstration 01 • successful reialionshir ' vith the fund. She said !fAD' a:. mmmitted a total (''l'edil hciUlyof abou t $157J milliun in the country sino! 19& . t ihe; noted th('lr ciedit tus bet 1\ )f\(' of the most benefidal h' the country with luw intet est nile.

NUPENG withdraws strike threat

HIEVING th~ aims of ill single window nvironment will require a robust. integrated. h o listic and multi -phase ,pF.rolich from all stakeho den. the ComptrolJ~r­ General of the Nigeria CUlltf)m! Servl(:e . A lhajl


By Toti. Agboola

Abdullahi Dlkk(>, has said. Dikko spoke at the annua l ge[\('flll meeting of the Ikeja 6ranch of Manufacturers Association of Nigeria (MAN) yesterday. The !ing le window 5YS-

t~m allo ..... s goods to be cleared from the ports within 48 hours. Dikkollis ted th~ stakeh o lders that should collaborate to ensure effective singl e window sys tem to include Customs. traden. banks. trade

cies. political leadership. unions and olhers. saying the Federal Go,' ernment adop ted the single window system of dearing goodlto achieve p r ompt clearance o f goods and facilit a te t rad"e in Ihe nation's su-

The parties agreed on a platform o f the Federal Government. labour and all oitical stakeholders to de\-.!I?p' infrastructure and the rehabilitation of refmeries. The meeting also agmed on con tinuous engagement between the GQ...emment and the


The rommuniq~ also said d~ owners an(! oil marketers agreed to keep their facili· ties opm and pay the salaries of the workers: Wagu noted thai the meetillg agl-eed to reconvene in two weeks 10 review the Stilus of implementation. TIlO5e present ilt the meetlng included: ~ to the GoVernment of the Federation (SGF). Anyim Pius Anyim; acting President. Nigeria labour Congress. Comrade Promise Ade\Vusi; Group Managing Director. NNPC. AndreW Yakubu; Minisler of State for Finance. Dr. Yerima l..awan Ngarna; Executivr Secretary. PPPRA. Mr. Reginald Stanley; former NUPENG President. and NLCactau;'