Editorial
Excess Crude Account And Missing $5bn
In response to allegations of a missing $5bn
from the Excess Crude Accounts, the
Coordinating Minister of the Economy and Finance Minister, Dr. Ngozi Okonjo-Iweala explained that the said amount had been shared to the three tiers of government.
The Minister said the sharing of the $5bn was to make up for the revenue shortfalls during the Federation Accounts Allocations Committee process and that part of the fund also went for SURE-P payments and the balance for subsidy payments to oil marketers.
The explanation of the minister, The Tide believes has ruffled more feathers than expected. This is more so because proceeds of the excess crude account belongs to the three tiers of government and not open for the Federal Government to spend at will, besides it is meant to be kept as future savings in a stabilization account.
Going by the explanation of the Finance Minister there seems to be flagrant abuse of process, more worrisome is the huge amount involved and the express disregard for the National Executive Council (NEC) decision on the use of the funds.
Contrary to some outcry, the issue may not be one of fraud, but the failure on the part of the Federal Government to obtain the support of the States before funds in the account could be touched.
We believe that the handling of the fund is suspicious and capable of providing an excuse for future financial recklessness. To serve as a deterrent, circumstances leading to this unapproved withdrawal should be probed and those behind it brought to book.
We think that the matter should not be reduced to a mere quarrel between the Minister and some Governors. The National Assembly should wade into the matter and bring about order in the way the finances are managed in Nigeria.
Like the finances of the SURE-P Committee, if funds under the Excess Crude Accounts fail to follow laid down procedure, a number of things can be wrong; considering the position of the National Executive Council which had been that such savings be made for the rainy day and not to be shared in the manner the Honourable Minister now seems to suggest.
While we believe that the Federal Government may have made the withdrawal with the best intention, the need to follow laid down rules should never be compromised, especially on things that are jointly owned. Indeed, people in government should lead in bringing to an end the culture of impunity in Nigeria.
Because of the hurry to tamper with the Excess Crude Account, which is the proceed from crude oil sales, in excess of what was budgeted for, some people have tended to disagree with the Finance Minister. In fact, they want to know the actual accruals from oil between January and March 2013.
While no state has denied collecting the enhanced allocation as claimed by the Finance Minister, Nigerians would truly want to know what warranted the withdrawal of $5bn at the time they did and why it was not brought to the attention of the States before.
Even so, the apparent face-off between the States and the Federal Government cannot be in the interest of the country. The attendant loss of confidence and the recourse to mud-slinging and name-calling at every opportunity cannot be supported.
Like it is said in some quarters, “matters of money are not matters of fancy, but matters of fact,” we expect that all persons saddled with the responsibility of managing public money from the Federal to Local Government must be cautious and guided by the law. That people do not speak up does not mean they don’t know that public officers sometimes go beyond their mandate in appropriating public money.
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A New Dawn For Rivers’ Workers
Workers in the Rivers State civil service have been eulogising Governor Siminalayi Fubara for delivering on his promise to implement a new minimum wage of N85,000, which was reflected in the salaries paid for November. This increase is N15,000 higher than the national minimum wage of N70,000. This represents not only an enhancement in the financial welfare of civil servants but also a recognition of their hard work and dedication to public service. The raise has been met with widespread jubilation among the workforce, who have long advocated for a better wage to cope with rising living costs and economic challenges.
As the news spread, offices filled with laughter and sigh of relief, as employees exchanged stories of how this financial boost would positively impact their families and dependants. The new minimum wage is not just a number; it symbolises the government’s commitment to improving the standards of living for civil servants and fostering a more equitable workforce. Many workers expressed their gratitude for the governor’s timely intervention, highlighting how important it is for public servants to feel valued and adequately renumerated.
Governor Fubara’s decision is expected to reinforce morale within the civil service, fostering greater productivity and dedication among employees who contribute significantly to the state’s development. With the new wage in place, there is a renewed sense of optimism among civil servants, who now feel more empowered to serve the government and the citizens with greater enthusiasm and commitment.
The Governor had declared an increase in salaries for state workers, emphasising that this adjustment is not only a reflection of the government’s commitment to improving the welfare of its employees but also a strategic move fueled by the state’s enhanced Internally Generated Revenue (IGR). He assured workers that the financial backing for this increment is sustainable, stemming from the state’s focused efforts to bolster revenue through various initiatives, including tax reforms and enhanced efficiency in public service delivery.
Furthermore, the governor’s promise of funding the increment solely through increased IGR signifies a commitment to fiscal responsibility and transparency. It reassures the people that the government is proactively managing resources while investing in their future. As the state continues to explore opportunities for revenue enhancement, Fubara’s administration remains focused on ensuring that these initiatives translate into tangible benefits for the workforce, ultimately fostering a more motivated and dedicated public sector.
The decision by Fubara to be the first in Nigeria to implement the new national minimum wage is a commendable step that reflects a proactive approach to governance and an understanding of the pressing needs of the workforce. In an economy where many families struggle to make ends meet, especially in the face of rising living costs, this enterprise will improve the quality of life for workers and also set a precedent for other states to follow.
In recognising the various drives and support provided by Fubara’s government, it is necessary that the workers reciprocate by embodying a spirit of productivity and commitment to the current administration’s goals. They should align their daily operations with the administration’s objectives to enhance effectiveness and foster an environment of collaboration and trust. This reciprocal relationship can lead to innovative solutions and efficient service delivery, ultimately benefiting the state and strengthening public trust in government institutions.
Surprisingly, despite the political challenges the government has been navigating, alongside the myriad of ambitious projects it is embarking on, it has managed to raise funds to implement a minimum wage of N85,000 This achievement reflects a commendable level of resilience and resourcefulness within the government’s fiscal strategies. In a nation often marred by economic volatility and political discord, finding a way to sustain and even elevate the livelihoods of its employees is no small feat.
Workers in the state have truly found themselves in a remarkably advantageous position under this administration, especially when compared to the previous regime. The immediate past government’s blatant refusal to implement the minimum wage of N30,000 left many employees disheartened and struggling to meet their basic needs. What was even more disconcerting was the absence of meaningful negotiations with labour representatives, leaving workers feeling unheard and undervalued. In contrast, the present administration has prioritised dialogue and engagement with labour unions, recognising the importance of fair wage for workers’ contributions to the state’s economy.
With the current government’s commitment to improving wages and working conditions, it is clear that a major shift has taken place. This renewed focus on the welfare of workers empowers them and instils a sense of hope and optimism for the future, as they can now look forward to a more equitable and supportive work environment. Ultimately, the ongoing trajectory suggests a promising era for labour relations in the state, one where workers are valued and their rights upheld.
Siminalayi Fubara has consistently demonstrated his dedication to workers’ welfare since taking office in May last year. Unlike his predecessor, who left many employees feeling overlooked and unsupported, Fubara wasted no time in addressing the longstanding stagnation of promotions that had plagued the workforce for eight years. He took further steps towards financial justice by initiating the long-overdue payment of gratuities that were neglected during the last administration.
Similarly, we urge the governor to take another step forward by reviewing the stipends received by pensioners. The current pension amounts have become woefully inadequate, leaving many of them who dedicated their lives to public service struggling to make ends meet. These dedicated individuals who have contributed to the development of our dear state now find themselves in a precarious financial situation, receiving stipends that are alarmingly low and insufficient to cover basic living expenses. The rising cost of living has rendered their pensions nearly meaningless. Therefore, a comprehensive reevaluation of these stipends is a required measure to ensure that those who have served our state with honour can live their remaining years with dignity and security.
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