Tag: Senate

Mining: Solid Minerals Development Fund partners Senate,others to attract foreign investments

Emporium Reporters

The Executive Secretary and CEO, Solid Minerals Development Fund SMDF, Fatima Shinkafi,said that the Fund was working with relevant stakeholders including Nigeria Senate to explore investment opportunities in the Mining Sector of the country. She said major focus of SMDF was to create competitive investment and grow the fund by attracting foreign investment, increasing export proceeds and as well, create jobs for Nigerians, hence the partnership with African Finance Corporation.   Shinkafi stated this while addressing journalists after a strategic meeting with the Senate Committee on Solid Minerals, chaired by…

North Central Development Commission establishment bill passes 2nd reading in Senate

Emporium Reporters

The bill seeking the establishment of North Central Development Commission (NCDC), being sponsored by the Senator representing Benue South Senatorial District and Senate Minority Leader, Comrade Abba Moro and co-sponsored by all the senators from North Central, on Wednesday, passed Second Reading on the floor of the senate.   The bill, which passed First Reading on the 5th of October, 2023, was first sponsored in the 9th Senate by Senator Moro where it passed First and Second Readings but could not get presidential assent before the expiration of the 9th…

Security concerns on front burner in Senate, by Ola Awoniyi

Emporium Reporters

Perhaps even more than the ailing economy, a worsening security situation has given Nigeria the most concern over the past few years. It is an ugly phenomenon that has bothered every law-abiding Nigerian, the National Assembly and the government. Despite several measures and huge resources deployed against it, the tide of the menace of violent crimes has not turned in many parts of the country. It is so worrisome that some people wonder if the government is doing anything about the situation.   Some even query the essence of a…

Nigeria Senate passes 2024 budget

Emporium Reporters

The Senate on Saturday passed the 2024 budget. The upper legislative chamber pegged the benchmark of oil price at $77.96 per barrel of crude oil to reflect the current market values of the product in the international market. The federal lawmakers approved the oil production rate of 1.78 million barrels per day and the exchange rate of N800 to a US dollar. The GDP growth rate was pegged at 3.88 per cent and the budget deficit was approved at N9.18 trillion. The Senate President, Godswill Akpabio, announced the passage of…

NNPCL rejects Senate’s move to increase 1.78mbpd oil production benchmark to 1.8mb/d

Emporium Reporters

The Nigerian National Petroleum Company Limited (NNPCL) has rejected the move by the Senate Committee on Appropriation to increase the crude oil production benchmark in the 2024 Appropriation Bill from 1.7 million barrels per day to 1.8 mb/d.   The Group Chief Executive Officer of NNPCL, Mele Kyari, kicked against the plan during an interactive session with the Senate Committee on Appropriations in Abuja on Friday.   The Chairman of the Committee, Senator Solomon Adeola (APC – Ogun West), made the proposal when the NNPCL management led by Kyari appeared…

Functionality of Refineries doesn’t dictate Petrol Pump Price – Kyari

Emporium Reporters

Forty eight hours after being summoned by the Senate, the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, has now appeared before the joint committee on appropriations.   The Senate had issued a 24-hour ultimatum on Wednesday to the NNPCL boss after an observations that he had in previous occasions, shunned summons by the Senate to appear before its ad-committee probing over 11 trillion naira expenditure on turn around maintenance of refineries in the country between 2010 and 2023.   Responding to questions…

Senate,Reps to hold joint sitting for 2024 budget defence

Emporium Reporters

Members of the National Assembly will hold joint sittings for the consideration of the 2024 budget proposal submitted by President Bola Ahmed Tinubu.   The Chairman, Senate Committee on Appropriation, Senator Adeola Olamilekan made this known to newsmen.   While responding to questions from newsmen after the closed door session with chairmen of Senate standing committees, Olamilekan said that the lawmakers would work on Saturdays and Sundays to meet up with the deadline.   He therefore dispelled media reports that there was no breakdown of the budget, disclosing that the…

Senate knocks Benue Govt over dissolution of LG Councils ….. Asks FG to withhold Allocation of affected LGAs

Emporium Reporters

The Nigerian Senate Friday condemned in the strongest terms the arbitrary dissolution of the democratically elected Local Government Councils in Benue State and other states of the Federation. The Senate also urged the Federal government to through the Ministry of Finance withhold Statutory Allocation to the Local Government Council not democratically elected. These resolutions were reached following the adoption of a motion on the “Urgent Need to Halt the Erosion of Democracy: The Dissolution of Elected Councils in Benue State”, sponsored by Senator Abba Moro. In his submission, Senator Moro…

Senate approves 2024-2026 MTEF/FSP

Emporium Reporters

The Senate has approved the 2022-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper of President Bola Tinubu. This followed the adoption of the report of its Joint Committee, which was considered at its plenary on Wednesday. The committees involved were Finance, Appropriation, National Planning, Local and Foreign Debts at plenary on Wednesday. Presenting the report, Senator Sani Musa, the committee Chairman, said the committee recommended that the Nigerian National Petroleum Corporation Limited should work toward reducing its operational costs to reduce wastage.

Senate begins amendment of Cybercrime Act ,as NUJ,NCC,others make inputs

Emporium Reporters

As the Nigerian Senate commenced the process to amend the Cybercrime Act 2015, Senate President Godswill Akpabio has disclosed how the country suffered financial losses as a result of cybercrime actors activities. Senator Akpabio made the disclosure in his remarks while declaring open a one-day public hearing on the Cybercrime (Prohibition and Prevention) Act (Amendment) Bill, 2023 at the Senate Complex, Abuja, on Wednesday. Akpabio, who was represented by the Leader of the Senate, Senator Opeyemi Bamidele, harped on the need to establish a comprehensive legal framework to deter, investigate,…