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SIREXE Conference: Shettima canvases Nigeria’s push for transparency in Africa’s extractive industries

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Nigeria has issued a strong call for improved governance, transparency, and collaboration among African leaders and industry stakeholders to effectively harness the continent’s vast resource wealth for sustainable development.

This declaration was made by Vice President Kashim Shettima during the inaugural International Exhibition of Extractive and Energy Resources (Salon International des Ressources Extractives et Energétiques – SIREXE) held in Abidjan, Côte d’Ivoire.

In a statement issued by his media aide, Stanley Nkwocha, the Vice President reaffirmed Nigeria’s commitment to fostering an inclusive extractive industry that is grounded in the principles of transparency, regional partnerships, and local capacity building.

He stressed that effective institutions are essential for transforming natural resources into national prosperity, stating, “This is not just about resources; it’s about people, prosperity, and posterity.”

The summit, themed “Policies and Strategies for the Sustainable Development of the Extractive and Energy Industries,” brought together leaders from across Africa to discuss innovative solutions for resource management and energy security. Shettima pointed out that the strength of governance institutions will determine whether resource wealth becomes a blessing or a curse.

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He argued that with the right policies, transparency, and accountability, Africa can ensure that its mineral wealth fuels development rather than division.

Highlighting Nigeria’s pioneering role in transparency reforms, Shettima referenced the establishment of the Nigeria Extractive Industries Transparency Initiative (NEITI) in 2004. He noted, “We became the first country in the world to domesticate the Extractive Industries Transparency Initiative because we understood that opacity breeds inefficiency and corruption. Transparency is non-negotiable for building trust and ensuring inclusive benefits for all.”

Shettima stressed the importance of regional cooperation in addressing common challenges faced by resource-rich nations. “Africa’s energy future is intertwined. The progress of one state ripples across others. Nigeria stands ready to share its lessons and collaborate with ECOWAS partners to build an extractive industry that works for our people,” he stated.

The Vice President also discussed significant reforms within Nigeria’s oil sector, particularly the restructuring of the Nigerian National Petroleum Corporation (NNPC) under the Petroleum Industry Act (PIA) 2021. He explained how this transformation into a commercially-oriented entity has enhanced operational agility and transparency while reducing government interference. “NNPC Limited now operates with agility, transparency, and reduced government interference. This shift is setting a new standard for resource governance in Africa,” he added.

Emphasising local content development as a key driver of economic growth, Shettima highlighted Nigeria’s Local Content Act of 2010, which has increased local participation in the oil and gas industry from 5% to nearly 30%. He cited successful projects like the Dangote Refinery—the world’s largest single-train refinery—as evidence of what can be achieved when indigenous capacity and innovation are prioritized.

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Acknowledging the challenges posed by vested interests and conflicts in resource-rich regions, Shettima stated, “We cannot afford to allow cartels and instability to jeopardize our aspirations. That’s why Nigeria is investing in specialized policing frameworks to secure mining sites and ensure sustainable growth.” He underscored Africa’s potential, noting that the continent is home to 40% of the world’s gold, 10% of its oil, and critical minerals like cobalt and lithium.

In his remarks, Côte d’Ivoire’s Vice President Tremoko Meyliet Kone expressed appreciation for Vice President Shettima’s presence at the event. He emphasized the benefits of collaboration among countries in the energy and extractive industries, including job creation and maximizing natural resources for citizens’ well-being. Kone also cautioned against pollution and climate degradation associated with mining activities.

Minister of Mines, Petroleum, and Energy Mamadou Sangafowa Coulibaly welcomed participants at the conference, highlighting the need for collaboration to meet global energy demands while ensuring economic development. He noted that this inaugural conference provided an avenue for stakeholders to propose solutions to challenges within the sector.

 

Norwegian Ambassador to Côte d’Ivoire ,Ingrid Mollestad remarked on the conference as a testament to nations’ ambitions to enhance their positions within the extractive industry amid a changing global landscape. She emphasized that partnerships among nations are essential for investigating sustainable development within this critical sector.

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As discussions continue at SIREXE, African leaders remain focused on leveraging their collective resources responsibly to foster sustainable growth across the continent.

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Transfer: PSG to bid for Osimhen in January

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Osimhen

Ligue 1 champions, Paris Saint-Germain are still interested in Victor Osimhen.

According to Corriere dello Sport, the Old Lady will bid for the Nigeria international next month.

Osimhen is presently on loan with Turkish Super Lig champions Galatasaray.

The striker’s release clause is €75 million, allowing him to join another team in January.

PSG were linked with a bid for the 25-year-old this summer.

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Osimhen is now recovering from a muscular injury.

He has scored 10 goals and provided five assists in 13 appearances across all competitions for Galatasaray.

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Tinubu’s Tax Reform bills not withdrawn, Senate can’t be intimidated – Akpabio

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The Nigerian Senate has dismissed reports of its plenary on Wednesday that Tax Reform Bills have been suspended, saying that the bills are alive and in progress.

Akpabio said the Tax Reform bills have not been withdrawn by the Senate because it’s an executive bill.

He spoke against the backdrop of a point of order raised by the Senate leader, Michael Bamidele Opeyemi that the proceedings of the Chamber were misreported particularly on the controversial Tax Reform Bills.

Expressing his discontent over reports in the media, he said: “I watched Arise television news and what was reported was that this hallowed chamber had suspended further consideration of the tax reform bills before the Senate.

“The reporter even invited the governor of Nasarawa State and pointedly told the governor that now that the Senate had withdrawn, he used the word withdrawn.”

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Opeyemi said the report suggested that Senators were confused and the only option was the suspension of the Bills. Quoting the conversation between the reporter and the Governor of Nasarawa State, he said: “Arise news described them as pony drums suggesting that they were confusing. They were problematic. What would you say Mr governor? Are you happy that these bills have been withdrawn, the governor said I am not just happy.”

Opeyemi said, Senators do not move from one television station to another trying to correct misinformation but could only deliberate on issues on the floor of the Senate, urging the Senate to be clear on the Tax Reform Bill now that the public has been misinformed.

“They understand the legislative process that we have to follow. They understand our role in the Constitution. Any attempt from any quarter, to intimidate the Parliament, will be undemocratic, and will not allow ourselves to be distracted.

“But we will encourage consensus. We will encourage discussions and engagement at all levels. But we will not, we cannot be bullied into adopting a certain procedure.

“As far as we are concerned, the tax reform bills are alive in this hallowed chamber, they are receiving consideration at various levels and we are open to discussions to negotiations to interface.

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“Let it not be said anywhere that we suspended further consideration of these bills and also it will be laughable for anybody to also think or say or report that the bills were withdrawn.

“Like I said there are executive bills that can only be withdrawn by the executive and there’s no reason to do so because these bills we believe are in overriding public interest.

“We will do everything possible to ensure that across geopolitical interests I mean political parties, across religious interests, everybody that has concern, civil society everybody that has concern is given a chance to contribute to the passage of these laws.”

Reacting, the Senate President thanked the Committee Chairman, Senator Abba Moro for having commenced sitting as soon as the Committee was announced yesterday.

“And I want to almost thank the senior senator, Abba Moro, the chairman of the committee, because as soon as that announcement was made yesterday, immediately started consultation.

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“In fact, he has a meeting today that he has set up to enable him to abstract the process so that the chairman of the Senate Committee on Finance and members of the committee can commence public hearings either next week or as soon as practicable.

“Therefore, your point of order clearly demonstrates that this is a very important issue.

“And the item to be explained is that the bills are live, have not been suspended, the actions have not been suspended, the bills have not been withdrawn and the bills have passed second reading in the Senate and further legislative actions are taking place. All those points are hereby sustained.”

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Okpebholo gives council chairmen 48-hours to submit statements of account to Assets Verification Committee

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The Edo State Governor, Monday Okpebholo, has issued a 48-hour ultimatum to the 18 local government council chairmen in the state to submit their statements of account.

Gatekeeper reports that the Chief Press Secretary to the Governor, Fred Itua disclosed this on Tuesday in a statement made available to newsmen in Benin City.

Okpebholo directed the council chairmen to submit the statements to the Assets Verification Committee, through the office of the Secretary to the State Government, SSG.

He said the statement of accounts should be effective from September 4, 2023 till date.

He said the statements of account would help and enable the Assets Verification Committee do its job effectively and efficiently.

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The governor, at a meeting with the councils’ chairmen at Government House, however, promised to work closely with them for a better Edo state.

He was represented at the meeting by his deputy, Dennis Idahosa.

“I have listened to you keenly, the ALGON Chairman. The Governor is a leader of all of us. Election has come and gone and we are all one family. The Governor has asked me to assure you that we are one family.

“He has also asked me to tell you that we will work closely together. I guess you are aware that a few weeks ago, the Assets Verification Committee was constituted.

“Mr. Governor is committed to transparency and accountability in this Government and that Committee would not have the resources to go across the 18 Local Government Areas of Edo State.

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“The Governor would want you to submit your statement of accounts from 4th of September 2023, to date, to the Assets Verification Committee within the next 48 hours (2 days), as that would help and enable the Committee to do its job effectively and efficiently.

“The statement of accounts should be sent through the office of the Secretary to the State Government to the Assets Verification Committee. The Governor thanks you for your time,” he said.

Earlier, Newman Ugiagbe, chairman of Orhionmwon Local Government Area and also the Association of Local Governments of Nigeria (ALGON), who led the 18 local government chairmen on the courtesy visit, pledged their loyalty to Governor Monday Okpebholo and promised to collaborate with him to ensure that the administration succeeds.

“We are here to congratulate the Governor and the Deputy on the mandate the Edo people gave them and here to pledge our loyalty to your administration.

“Our doors are open to your instructions, policies and programmes, as we are ready to bring your policies down to the grassroots to enable our people to benefit from the dividends of democracy as we will work to ensure your administration succeeds”, he stated.

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