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Nigeria Can Generate $3bn From Solid Minerals Annually -Senate
The Senate through its Committee on Finance has said that Nigeria could generate about $3bn from solid minerals.
The Chairman of the Finance Committee, Senator Sani Musa, in a statement on Sunday said the informal sector, particularly the mining industry, is a hidden gem in our revenue potential.
He also stated the Senate Finance Committee will seriously look at the informal sector which constitutes about 80% of the Nigerian Economy. The committee will look into empowering the informal sector with the spotlight on mining.
He said, “This was corroborated by the Ministry of Mines and Steel Development that the solid minerals have the capacity to generate about 2-3 billion US dollars annually.
“We will dedicate our efforts to understanding and nurturing this sector with appropriate legislation with emphasis on formalising artisanal and medium-scale mining activities.”
Musa noted that this strategic move will bring economic benefits while promoting safer and more responsible practices.
He added, “We will harness and raise revenue sources from both the Blue Marine and the Creative Economies, by setting targets.
“The committee will legislate to encourage regulations of consumption and production, facilitate enabling environment through legislation for domestic Industries to develop and stimulate economic growth through direct foreign investments inflow.
“Upholding fiscal discipline is pivotal to our financial health. As Senate Finance Committee, we will fasten our commitment to prudent revenue sourcing, ensuring that every income earned is been accounted for so that our nation’s priorities and development goals can be addressed.”
He also noted that the committee will ensure that the annual budget aligns with the Medium-Term Expenditure Framework and fiscal strategy paper to ensure a coherent roadmap, bridging medium-term aspirations with concrete fiscal plans, and fostering accountability in the efficient utilisation of resources.
The Senate Finance Committee also said it would extend unwavering support to the Presidential Committee on Fiscal Policy and Tax Reform in its ambitious endeavour to address the substantial annual revenue gap of 20 trillion Naira from non-oil sources and also to achieve an 18% tax-to-GDP ratio.
The lawmaker added, “In parallel, the Committee underscores its commitment to legislate on comprehensive tax reforms, a pivotal step towards augmenting revenue generation and fostering sustainable economic growth.
“Stringent Oversight of Revenue Agencies will be entrenched as our responsibility extends to overseeing the activities of revenue-generating agencies. Through rigorous oversight, we will ensure their transparency, accountability, and efficiency, thus maximising revenue collection for national development.
“We will leave no stone unturned as we embark on this transformative journey of renewed economic prosperity by embracing innovation, transparency, and untiring dedication, we will steer our nation towards prosperity, resilience, and shared progress in line with the Renewed Hope of President Ahmed Bola Tinubu’s administration.”
Musa also noted that some Ministries, Departments, and agencies are fiscally irresponsible and generate low revenue profiles.
He said, “In my capacity as the Chairman, the Senate Committee on Finance I’m very much aware and in the know of the economic and developmental challenges our country is going through, including the escalating debt burden, low revenue profile, and fiscal irresponsibility by some MDAs. In this pursuit, I pledge to lead the committee with diligence, innovation, and a steadfast focus on securing our nation’s economic prosperity.
“It is a known fact that the Nigerian economy stands at a critical juncture, navigating through a complex web of economic challenges that necessitate strategic and informed policy responses.
“ With a backdrop of low GDP growth which the Nigeria Bureau Statistics put at 2.51%, in the second quarter of 2023 lower than 3.54 % of the second quarter of 2022, persistent inflation, high unemployment, a mounting debt profile, and a limited revenue base, the economic landscape demands concerted efforts to address structural imbalances and foster sustainable growth.”
The lawmaker also extended his congratulations to the newly inaugurated Minister of Finance and Coordinating Minister of the Economy Mr Olawale Edun, stating that his position is that carries with it a profound responsibility for shaping Nigeria’s economic trajectory.
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Bill For Compulsory Counselling For Convicted Corrupt Nigerians Scales Second Reading
A bill to amend the Corrupt Practices and Other Related Offences Act 2000 has passed its second reading in the House of Representatives.
The bill, which mandates compulsory counselling and training for individuals convicted of corruption-related offences, was sponsored by Kayode Akiolu (APC-Lagos) during plenary on Wednesday.
Leading the debate, Mr Akiolu explained that the bill sought to amend Section 67 of the principal act, introducing new provisions that were not part of the original section.
“These additional provisions, found in subsections 2, 3, and 4 of the amendment bill, require judges and magistrates to not only impose imprisonment and/or fines on those convicted of corruption but also mandate a minimum four-week anti-corruption counselling and training.
“The counselling and training will be designed and delivered by the Anti-Corruption Academy of Nigeria (ACAN) and aims to address the psychological factors related to corrupt behaviour,” Mr Akiolu said.
Mr Akiolu emphasised that the training would help reform convicts by addressing their corrupt tendencies and could even transform them into advocates for anti-corruption efforts.
He added that this approach aligned with the reformative aspect of the criminal justice system, which focused on punishment and rehabilitation.
“As per subsection 4, the bill allows magistrates and judges to order convicts to cover the cost of their counselling and training, preventing additional financial burdens on the government,” the lawmaker noted.
Mr Akiolu further argued that if the bill is passed into law, it would strengthen the country’s fight against corruption.
Given the widespread negative impact of corruption, he urged the House to support the bill for the country’s benefit.
Following the debate, Speaker Tajudeen Abbas referred the bill to the relevant committee for further legislative consideration.
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Judiciary, Media Key Pillars Of Democracy, Says CJN
The Judiciary and the Media are key pillars of democracy, the Chief Justice of Nigeria (CJN), Justice Kudirat Kekere-Ekun, has said.
Kekere-Ekun made this statement in her address at the 2024 National Conference of the National Association of Judiciary Correspondents (NAJUC).
The CJN was represented by Mr Abdulaziz Olumo, the Secretary of the National Judicial Institute (NJI).
“ The judiciary and the media occupy unique and complementary roles in any democratic society.
“ The judiciary serves as the guardian of justice, equity, and the rule of law, the media acts as the conscience of society, disseminating information, shaping public opinion, and ensuring accountability.
“ Together, these institutions provide checks and balances that strengthen the fabric of democracy,” she said.
Quoting Felix Frankfurter, a former U.S. Supreme Court Justice, she said: free press is not to be preferred to an independent judiciary, nor an independent judiciary to a free press. Neither has primacy over the other; both are indispensable to a free society.”
The CJN said this dynamic interdependence between the judiciary and the media presents opportunities and challenges alike.
“ The media is entrusted with the responsibility of informing the public about judicial activities, the judiciary relies on accurate and ethical reportage to enhance public confidence in its work.
“ However, the inherent power of the media to influence public opinion requires careful management, especially when its focus turns to judicial proceedings.
“ The question posed by Robert J.Cordy, a former Associate Justice of the Massachusetts Supreme Judicial Court, is pertinent here: “What happens when the free press turns its sights on the courts-scrutinizing, sensationalizing, and exposing the frailties of the judiciary while questioning its ethical standards and performance?”
“The media’s capacity to shape narratives and perceptions is undeniable” she said.
Quoting Jim Morrison , she said “Whoever controls the media controls the mind.”
According to her, this underscores the immense responsibility placed on journalists to report truthfully, fairly, and objectively.
“ Unfortunately, the commercialisation of news and external influences have led to the rise of sensationalism-a practice that distorts facts, erodes trust, and undermines the very essence of journalism.
“ Sensationalised headlines, such as the infamous 2016 headline “We raided the houses of ‘corrupt, unholy’ judges, says DSS,” can paint a skewed picture of the judiciary and its officers. Such reporting, often devoid of context, compromises the integrity of the justice system and misleads the public.
“ Closely tied to this is the issue of “trial by media,” where premature and often biased media narratives prejudge cases and infringe on the constitutional rights of individuals” she said.
She added that as Mahatma Gandhi rightly observed, “The sole aim of journalism should be service.” It is imperative for media practitioners to remain steadfast in their commitment to truth and objectivity.
To this end, she advised, the National Association of Judiciary Correspondents to take proactive steps to regulate the activities of its members.
“ This is not merely about enforcing rules but about fostering professionalism and safeguarding the credibility of the media.
“ The judiciary and the media must work as partners in progress.
“ To bridge the gap between these institutions, there is a pressing need for constructive engagement and mutual understanding.
“ Courts can provide the media with guidelines on judicial processes, courtroom decorum, and the nuances of court proceedings.
She noted that globally, courts have adopted initiatives to support the media’s role in reporting judicial matters.
For instance, she said the Supreme Court of Dakota’s media guide outlines protocols for courtroom reporting, while the UK ‘s Media Guidance document provides clarity on access and etiquette for journalists.
“ These examples demonstrate how structured collaboration can enhance the quality of judicial reportage.
“ In Nigeria, we can take a cue from these models by developing a comprehensive media guide tailored to our judicial landscape.
“ This initiative, which would involve inputs from NAJUC and judicial stakeholders, would not only enhance media access to courtrooms but also ensure that judicial activities are accurately and responsibly reported” she said.
She advocated that judiciary correspondents must make deliberate efforts to familiarise themselves with the rules and procedures of the courts.
She added that understanding these frameworks will enable journalists to navigate the complexities of judicial proceedings effectively and responsibly.
“ Training programs such as this conference play a crucial role in equipping judiciary correspondents with the knowledge and skills needed to report judicial matters accurately.
“ The theme of this year’s conference, “The Role of Courts in Enforcement of Judgments,” is both timely and significant, as it addresses an aspect of judicial work that is critical to upholding the rule of law and ensuring justice.
“ I commend NAJUC for its commitment to promoting accountability and transparency through its engagements with the judiciary.
“ As I conclude, I must emphasize the importance of credible journalism in strengthening public trust in the judiciary” she said.
She urged judiciary correspondents to prioritise the pursuit of truth and objectivity, resist undue influences, and remain steadfast in their commitment to ethical standards.
She commended the leadership of NAJUC, under the chairmanship of Mr Kayode Lawal, for its efforts in promoting professionalism among judiciary correspondents.
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Senate Issues Arrest Warrant Against Julius Berger MD Over Road Project
The Senate has issued an arrest warrant for the Managing Director of Julius Berger Nigeria Plc, Dr Peer Lubasch, to appear before its Committee on Works.
The Tide’s source reports that the warrant was for Lubasch to explain the utilisation of funds appropriated for the reconstruction work on Calabar-Odukpani-Itu highway.
The warrant followed the adoption of a motion sponsored by Sen. Osita Ngwu (PDP- Enugu) and co-sponsored by Sen. Asuquo Ekpenyong (APC-Cross River) and Sen. Mpigi Barinada (PDP- Rivers) at plenary in Abuja, yesterday.
Ngwu, in the motion said, that the senate had mandated the committee on works to conduct investigation into the state of road infrastructure across the country.
He said that in furtherance to the investigative hearings, Julius Berger refused to honour invitations to provide details of its role in the Calabar-Odukpani-Itu highway project, in spite of receiving substantial public funds.
He said that this was worrisome, given the alarming discrepancies in performance among contractors on the project, with specific reference to Julius Berger for failing to meet delivery timelines.
Ngwu said it was the constitutional powers of the National Assembly under Sections 8 and 89 of the 1999 Constitution, as amended, to conduct investigations on any person or organisation responsible for administering public funds.
He said that the powers set out in section 6 of the legislative powers and privileges act empowered the Senate to issue warrants of arrest on persons in contempt of its proceedings.
The Tide source reports that the senate further ruled that President of the Senate, Godswill Akpabio, should sign the warrant, mandating the Julius Berger managing director to appear on a date to be communicated.
Akpabio said that the senate’s decision was in line with its constitutional powers under Section 89 of the 1999 Constitution (as amended).
“This senate will not tolerate the continued disregard of its authority.
“The managing director of Julius Berger must appear before the relevant committee, failing which further actions will be taken as prescribed by the constitution.
“The point of order, which was supported by the majority of the senators, highlighted the importance of upholding the integrity of the legislature.
“The senate committee will submit its findings to the National Assembly after the MD’s appearance.
“If there is any further failure to comply, we shall take the necessary steps to ensure respect for the constitution and the rule of law,” Akpabio said.
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