From $380bn Loss in 50 Years, Nigeria’s Oil Industry Begins In-country Annual Retention of $8bn 50,000 jobs created since creation of NOGICD Act, says Wabote Local oil firms now produce 60% of Nigeria’s domestic gas Emmanuel Addeh in Abuja From a whopping $380 billion loss in capital flight due to the
absence of an enabling law for retention of capital in the oil and gas industry, Nigeria currently has an annual in-country retention
of $8 billion under the Nigerian Oil and Gas Industry Content Development (NOGICD) Act. Executive Secretary of Nigerian
Content Development and Monitoring Board (NCDMB), Mr. Simbi Wabote, stated this in Lagos during a meeting with editors.
Wabote revealed that about two million jobs were also lost during the 50 years that the country’s oil and industry operated without a
capital retention law. But he said at least 50,000 jobs had so far been Continued on page 12
Airlines Hike Fares as Aviation Fuel Rises to N420 Per Litre... Page 47 Monday 21 February, 2022 Vol 27. No 9813. Price: N250
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How Presidency’s Intervention Speeded up Kyari’s Arrest Micheal Olugbode in Abuja Fresh facts have emerged on the process leading to the arrest of “super cop” Deputy Commissioner
of Police (DCP) Abba Kyari and his subsequent hand over to the National Drug Law Enforcement Agency (NDLEA) last week. In a dramatic move on February
14, NDLEA at a world press conference declared wanted Kyari, who had been suspended from his duties months ago following his indictment by the United States
Federal Bureau of Investigation (FBI) for alleged involvement with Internet fraudster, Hushpuppi, in cyber-criminal activities. The move became necessary
following the reluctance by the police high command to accede to the request by the anti-drug agency to release Kyari for interrogation. “But for the direct intervention
by the presidency after the press conference questioning the delay in arresting and handing over Kyari Continued on page 12
Buhari May Sign Electoral Bill Today, Seeks Lawmakers’Assurances to Amend Clause 84 Ruling party's governors meet tonight in Abuja ahead of meeting with president tomorrow
Deji Elumoye, Chuks Okocha and Adedayo Akinwale in Abuja All things being equal, President Muhammadu Buhari, has agreed to sign the reworked Electoral Act Amendment Bill and may in fact sign the bill today but on the condition that the National Assembly would amend the contentious Clause 84, which infringes on the constitutional rights of certain category of people. The contentious aspect bars political appointees from contesting elections and voting as delegates, either at conventions or congresses, after assenting to it. The president, who already met with the leadership of the two chambers of the National Assembly was awaiting assurances from the leadership of the National Assembly to amend the bill after signing it into law. "The President wants to put this behind us but simply wants assurances so as not not to allow this to continue to be a distraction on the country. He doesn't want other good aspects Continued on page 12
WHEN PRESIDENTS LAUGH... L-R: Rwandan President, Paul Kagame; German Chancellor, Olaf Scholz; President, African Development Bank, AfDB, Mr Akinwumi Adesina, and Tanzanian President, Suluhu Samia Hassan, in a rare collective laughing moment at the EU-AU Summit in Brussels ... recently
Tinubu: No Amount of Intimidation Can Stop My 2023 Presidential Bid... Page 49