EVERYTHING YOU NEED TO KNOW ABOUT THE LAGOS STATE RENT-TO-OWN POLICY!

(1)Q: What is the Rent–To–Own Policy about?

A: The Rent-to-Own Policy introduced by the administration of Governor Akinwunmi Ambode is aimed at making housing more readily available, accessible and affordable for the low and middle income earners. This policy is to ensure that the State Government lives up to its social obligation to provide affordable shelter to its citizens and assist first time buyers to acquire their own homes. Through this policy, prospective home owners make a 5% down payment, take possession and pay up the remaining balance as rent towards the ownership of the property over a period of 10years.

(2)Q: How does it work?

A: Eligibility Criteria

i. Applicant must be primarily resident in Lagos State and will be required to submit a copy of their Lagos State Residents Registration Card (LASRRA).

ii. Applicant must be a First Time Buyer

iii. Applicant must be 21years Old and above.

iv. Only tax compliant resident will be eligible under the Lagos State Rent-To-Own policy and must provide the proof of tax payment.

v. Applicant must be able to make the 5% commitment fee payment and the balance is spread monthly at a fixed rent over a period of ten (10) years.

vi. Applicant must pass the Affordability Test and not more than, 33% of the monthly income as repayment.

(3)Q: How do I apply?

A: APPLICATION AND SUBMISSION PROCESS:

i. Applicants can either download the form from the website or pick up the Application form at the following locations: Lagos State Mortgage Board (LagosHOMS) Office; LBIC Building, Ground Floor, Plot 1, Revenue Road, CBD, Alausa, Ikeja, Lagos), or Ministry of Housing, The Secretariat, Alausa

ii. Complete the application form in accordance with the instructions. Pay the processing fee of N10, 000 (Ten Thousand) Naira Only at the designated bank. This fee is a nominal charge for processing your application when you submit and is non-refundable.

iii. Submission of application forms with the payment receipt and copies of all necessary documents is at Lagos State Mortgage Board (LagosHOMS) Office; LBIC Building, Ground Floor, Plot 1, Revenue Road, CBD, Alausa, Ikeja, Lagos.

(4)Q: What are the documents needed to complete the application and submission process?
A: The list of documents to be submitted with your application can be found on the form itself and on the website https://lagoshoms.lagosstate.gov.ng/

(5)Q: Is it meant only for residents in paid employment?

A: Rent to Own Policy is designed to include all Tax paying Lagos State residents who earn income including the informal Sector such as Entrepreneurs, Artisans and Traders. www.lagoshoms.gov.ng checklist of documents to submit with your application.

(6)Q: What are the required documents for the self-employed?

A: The list of documents to be submitted for the self-employed with your application can be found on the form itself and on the website Please click on the link checklist of documents to submit with your application and view the Self Employed section.

(7)Q: Can I check the status of my application?

A: Yes you can, by sending an e-mail to www.lagoshoms.gov.ng renttoownapplication@lagoshoms.gov.ng

(Q: Who should the Reference letter from my employer be addressed to?

A: The reference letter should be addressed to The General Manager/Chief Executive Officer, Lagos Mortgage Board, LBIC Building, Plot 1 Revenue Road, Central Business District, Alausa-Ikeja, Lagos.

(9)Q: Who can stand as my Guarantor?

A: A Notary Public, Magistrate, Justice of the Peace, Clergy, Oba or Chief and Civil servant from level 14 and above.

10)Q: Can I have a co-applicant?

A: Yes, but it can only be your spouse and both of you have to be individually eligible under the Rent-To-Own Scheme and you will own joint title to the home if successful.

(11)Q: How many housing units are available in the Rent-to-Own scheme?

A: For now, there are a total of 5008 housing units in 12 housing estates spread over the three Senatorial Districts of Lagos State. However, more units are under construction for the sustenance of the policy.

(12)Q: Why do I need to subscribe to Lagos Rent-To-Own?

A:
i. Affordable
ii. Low Monthly Payment
iii. Serene Environment
iv. Ample Vehicular Parking
v. Provision of security 24/7
vi. Provision of water treatment plant
vii. Provision of sewage treatment plant
viii. Facility Management

(13)Q: How do I make monthly payments?

A: You will be advised about the bank to make payment to at the signing of the tenancy agreement

(14)Q: Can I pay off my Monthly Rent Balance earlier than the 10-year term?

A: No. the minimum tenure of payment is 10 years.

(15)Q: What happens if I miss a payment or if my payment is late?

A: If you miss 3 (three) consecutive payments your home will be liable to Late payments will attract a charge equal to 20% of the late payment. You are advised to contact Lagos Mortgage Board (LMB) immediately if you are experiencing any financial difficulty.

(16)Q: What happens if I lose my paid employment?

A: You will need to notify LMB immediately

(17)Q: Can I rent out my home?

A: NO. It is an OWNER-OCCUPIER policy. This means that you must live in the home you buy. You cannot buy-to-let and there will be periodic checks to make sure that home owners comply.

(18)Q: How are these housing units maintained?

A: In order to enhance appreciation in value of the Estates and arrest deterioration, Facility Managers have been appointed for some of the Estates while other Estates are expected to have Facility Managers soon. Facility Managers will ensure that the quality of the estates is maintained on a regular basis with the retrained artisans in the built environment.

(19)Q: How do you ensure that the artisans are professionals?

A: Government has taken a step further to retrain and certify building artisans such as masons, carpenters, steel fabricators, plumbers, electricians, painters, joiners, tillers and the likes who would be engaged to maintain the homes under its MasterCraftsman project.

In addition, a database of all certified Lagos State MasterCraftsmen has been created for ease of reference for all Lagosians. It is accessible on the Ministry of Housing Page on Lagos State Government Website

(20)Q: How does Government plan to sustain the Rent-to-Own scheme?

A: To ensure that units are available for the Rent-To-Own scheme, Lagos State Government is presently constructing more housing units, the State Government is partnering with Private developers and investors to provide 20,000 housing units in the next 5 years under the Lagos Affordable Public Housing (LAPH)

STATE HOUSE PRESS RELEASE

PRESS STATEMENT

The Acting President, Professor Yemi Osinbajo, SAN, has directed the termination of the appointment of the Director General, State Security Service, Lawal Musa Daura with immediate effect.

Mr. Daura has been directed to hand over to the most senior officer of the State Security Service until further notice.



Laolu Akande

Senior Special Assistant to the President on Media and Publicity

Office of the Acting President

7 August, 2018

Governor Akinwunmi Ambode (centre) in the midst of ecstatic managers, chefs and staff of the Rhapsody Restaurant and Lounge at Shoprite-Ikeja Mall on Sunday evening for a quiet lunch at one of the state's shopping and entertainment attractions after a long day of inspection tour across the city.

10 ONGOING INFRASTRUCTURE PROJECTS IN LAGOS STATE, BY THE AMBODE ADMINISTRATION

1. LASUTH Maternity Center (Ayinke House): 162-bed facility, expandable to 250 beds; 22 neo-natal Intensive Care Units; 16 Adult ICUs; 5 Theatres; Laboratory, etc

2. 10-Lane International Airport Expresssway

3. Three new Model Colleges in Yaba, Shomolu and Ojo

4. Pen Cinema Flyover (1.4km)

5. Reconstruction of network of roads in Bariga/Ilaje, and Ojokoro

6. Construction of first Lagos State Public Service Plaza. It will include 9,500 square meters of office space, Conference Rooms, Canteen/Kitchens, Sports Facilities (Lawn Tennis, Outdoor Football, Indoor Sports Hall, etc), Public Service Staff Club, daycare Center/Creche,

7. Construction of new Ilaje Jetty, that will link to Ikoodu, Apapa, Lagos Island, Badagry, Ajah and Epe

8. New Ultramodern Oshodi Bus Terminal / Transport Interchange, and new Oyingbo Bus Terminal

9. Oworonshoki Lagoon Reclamation: 50 hectares of land being reclaimed, for transformation into an entertainment district (hotel, event centers, cinemas, clubs, bars, bus terminal, parking space for 1,000 vehicles, etc)

10. Reconstruction and expansion of the Asiwaju Bola Ahmed Tinubu (ABAT) Truck Terminal in Orile-Iganmu. The park will accommodate 1,000 trucks and help create a permanent solution to the Apapa traffic gridlock.

IN LOME, PRESIDENT BUHARI SEEKS REGIONAL SECURITY ARCHITECTURE FOR WEST AND CENTRAL AFRICA by Garba Shehu
President Muhammadu Buhari in Lome, Togo strongly pitched for the setting up of a regional security architecture in the West and Central African sub-regions, giving clear indication that there is a convergence of strategic interests among the countries of the two sub-regions on security.
In his address at the three summits that took place between Sunday and Tuesday in Lome, these being the ECOWAS (Economic Community of West African States) and the ECCAS (Economic Community Of Central African States); implementation of Single Currency throughout West Africa by 2020; and the 53rd Ordinary Session of ECOWAS Authority of Heads of State and Government, President Buhari talked about the need for a united approach to contain terrorism and radicalisation in the sub-regions; asserted Nigeria’s leading role in political, social and economic matters; and reaffirmed the need for close collaboration in dealing with problems affecting their countries.
In a major speech at the ECOWAS-ECCAS summit, the President made clear Nigeria’s readiness in playing a major role in broader regional security framework along with all the countries in the sub-regions, in the hope of replicating the successful pentagonal security coalition in the Lake Chad area which led to the setting up of a Multinational Joint Task Force (MNJTF) by Nigeria, Niger, Chad, Cameroon and Benin.
According to him, “Nigeria wishes to encourage other Member States to intensify inter-regional collaboration on maritime security, fight against terrorism and other crimes through effective border control. Respect for rule of law, democracy and promotion of human rights are also vital as they are attributes of good governance, which would enhance the socio-economic development of the two regions.
“As you are all aware, the African Union (AU) has designated this year as the Anti-Corruption Year under the theme “Winning the Fight against Corruption: the Sustainable Path to Africa’s Transformation”. As Champion of the theme for the year, I call upon you to join hands in this campaign against corruption, as one of the root causes of conflict and other societal ills.
“Finally, let me reiterate that Nigeria will continue to support any effort directed towards peace building, security and stability, as well as the fight against terrorism and violent extremism in our two sub-regions and the world.”
The discussions focused on steps to further strengthen the comprehensive strategic partnership by expanding cooperation across all sectors, including, but not limited to:
Ø The promotion of peace and stability throughout the sub-regions;
Ø The setting up of national and sub-regional early warning response mechanisms to avert conflicts;
Ø The setting up of Eminent Persons Group to undertake preventive diplomacy, crisis management and mediation;
Ø Zero tolerance for corruption, coups, and the institution of free, fair and credible elections;
Ø Inclusive political participation;
Ø Empowering women and youths; and
Ø The institution of fair mechanisms of sharing resources.
The leaders of the sub-regions also agreed to security cooperation against transnational crimes such as terrorism, illicit trafficking in arms and drugs and ensuring the security of the water ways in the Gulf of Guinea.
They also agreed to the formation up of Mutual Legal Assistance Treaties in pursuit of judicial assistance to one another and to promote cooperation by their police.
Arising from their discussions, there will be a donor conference on security in the Gulf of Guinea. The Central African Countries have agreed to support the MNJTF in the Lake Chad basin area. To tackle the escalation in farmers-herders conflicts, the leaders have asked their ministers of agriculture and livestock, security and foreign affairs to meet every year to formulate solutions to common problems. The summit of the leaders will itself take place every two years to maintain the momentum of cooperation.
To give effect to all resolutions and decisions, a ministerial committee was set up, made up of ministers of foreign affairs, security and the secretaries-general of both sub-regional groups to report to the heads of state annually. There will also be a joint secretariat of ECOWAS and ECCAS.
The second summit, the one on Single Currency has outlined eligibility criteria and set targets for all the countries in West Africa. They call these convergence criteria that fix the ratios of deficit to Gross Domestic Product, GDP; annual inflation rates, limits to Central Banks’ financing, public debt-GDP ratios, rate of exchange and currency reserves.
What this meeting did was to charge all countries to aggressively work towards the take-off target of 2020 and Nigeria, with 65 per cent of ECOWAS’ cash reserves, the leading economy in the sub-region and the continent, was effectively put in the driver’s seat. Some likened this role by Nigeria to what Germany is to the European Union, EU. It is an enormous responsibility for which our leaders have expressed the readiness to effectively shoulder.
The third summit, the ECOWAS meeting went into extra time due to the long list of issues on the table. These ranged from regional integration to regional security and stability; customs union; agriculture and the tragic escalation of farmers-herders conflicts as well as the enhancement of social peace.
The meeting of the heads of state and government also received several reports on assignments earlier given. There were Reports on the implementation of ECOWAS biometric ID cards; African migrants in detention in Italy and Spain; the on-going restructuring of the ECOWAS secretariat; budget for the new financial year; and the political situations in the sub-region including The Gambia, the legislative elections in Guinea-Bissau, the elections in Mali, the maritime security in the Gulf of Guinea, the situation in Togo as well the setting up of national early warning centres.
What is left unsaid is that President Buhari’s engagements dealing with security and cooperation and the warm reception given him in Lome, by both ECOWAS and ECCAS have encouraged enthusiasm and speculative interest regarding Nigeria’s role in Africa’s security. We have our challenges quite alright, but that appear in no way to lower the high expectations by both domestic and international supporters about what Nigeria can, and should do.
The point above was underscored by the extraordinary decision of the ECOWAS leaders to, for want of a better word impose the leadership of the organization, against all protestations on the Nigerian leader.
Nigeria’s delegation to Lome had been briefed of the aspirations of Cape Verde, Sierra Leone and Ghana to assume the chairmanship of the ECOWAS Authority of Heads of State and Government following the completion of Togo’s mandate.
As with others, Team Nigeria had debated the pros and cons of all three Candidate-nations and had, after considering the best possible interests of the sub-region, made a selection before the commencement of the summit.
As it turned out, the ECOWAS leaders had a plan unknown to Nigeria. Against the tradition of denying the chairmanship to leaders in an election year in their countries, President Buhari was asked to lead, and denied a chance to refuse to serve.
In the history of the ECOWAS, many of the region’s leaders including some from Nigeria had fought to serve, with many seeing the chairmanship as an added feather to the cap, if not an egotistic conquest of the space in a megalomaniacal sense. There are past Nigerian Presidents who had had multiple tenures as ECOWAS chairman. Unlike others, President Buhari, in his fourth year as leader, had never asked to lead.
In classic recast of the Biblical and Qur’anic proverb, that those who exalt themselves shall be humbled, while those who humble themselves shall be exalted, all three candidates were asked to step down, and the Nigerian President was called to come forward to lead. Given the times and the circumstances in the sub-region, the leaders know of course that they need President Buhari now, more than they did at any other time before.
Garba Shehu is the Senior Special Assistant to the President on Media & Publicity.

Below are photos of LASEMA Response Unit on some Recovery/Rescue operations.

Brought To You by #ExplainsLagos

#Call112 #LagosCares

There was a fire incident at the Ecobank HQ this morning in Lagos. The Lagos State Emergency Management Management Agency (LASEMA) Response Unit (LRU) was promptly on ground to put out the fire. One of the many ways in which Lagos State is investing in modern, state-of-the-art emergency response. See photos from today's intervention: Brought To You by #ExplainsLagos

#TeamWork #Call112 #LagosCares

12 Things Governor Ambode said at the Lagos State 3rd Quarter 2018 Town Hall Meeting; Wednesday, July 25, 2018.

1. Postponement of maintenance works on the Third Mainland Bridge by the Federal Ministry of Works.

2. Construction of the Epe Airport and reconstruction of the Coastal Road is on course.

3. We will deliver the 10-lane Murtala Mohammed Airport Road before Christmas 2018.

4. We will complete the 27 network of roads in Ojokoro, as well as the LASUTH Maternity Hospital (Ayinke House), Ikeja before the end of 2018.

5. Highlighted the benefits/importance of the first Public Service Plaza, currently under construction in Alausa. It will include 9,500 square meters of office space, Conference Rooms, Canteen/Kitchens, Sports Facilities (Lawn Tennis, Outdoor Football, Indoor Sports Hall, etc), Public Service Staff Club, daycare Center/Creche,

6. Re-construction of the Apapa-Oshodi Expressway will commence within the next two weeks.

7. Announced the commencement of recruitment of an additional 1,000 teachers into the State Teaching Service.

8. Asked the Federal Government to revive oil pipelines to discourage the trend of thousands of trucks coming from other parts of the country to lift petroleum products from Apapa.

9. Highlighted the need for the Federal Government to revive Ports in other states, as well as redistribute Tank Farms away from densely populated areas of Lagos State. Lagos metropolis doesn’t need any more tank farms; there are already 68 tank farms in Apapa alone. He stressed that the Apapa congestion is a national issue that requires urgent national attention.

10. The dualization of the road from Eleko Junction on Lagos-Epe Expressway, to the T-Junction will commence in January 2019.

11. Promised to resolve all issues relating to compensation in the Lekki Free Trade Zone, by the end of July 2018

12. Urged Lagosians to collect their PVCs, and to exercise their civic responsibility as voters, and also very importantly, as taxpayers.

My aim in this write-up is not to defend Mrs Adeosun over the alleged forgery.

I do not support forgery of any form. My grouse is with the mob-like and holier-than-thou reactions to the whole affair - without any consideration of whether Mrs Adeosun’s misadventure with the NYSC was a mistake of the head or of the heart.

I am not arguing that whatever punishment she deserves should not be meted but that in passing our judgment we should also look at possible attenuating circumstances. Let me underline that I do not know Mrs Adeosun except as our Finance Minister.

If I need to make any open disclosure here it is my admiration of her for how she has carried herself with respect, using decent language in replying critics at all times, and keeping studied silence on several occasions that critics were simply trying to hit her below the belt.

https://www.dailytrust.com.ng/in-defence-of-mrs-kemi-adeosun-262676.html

The NNPC reportedly collected subsidy to the tune of N89 billion in the month of May, part carry-over from last year, yet the Department of Petroleum Resources (DPR) doubts the genuineness of those figures.

The Petroleum Products Pricing Regulatory Agency (PPPRA) that is statutorily responsible for documenting how much petroleum products Nigeria consumes daily also has reservations about the NNPC figures.

Between the NNPC, DPR and PPPRA – the three main sources that should know and provide reliable statistics about how much petrol Nigeria consumes at every point – none has agreed with the figures being churned out by others.

What has come out clearly from the unfortunate development is the lack of transparency and accountability in the management of our oil assets.

Meanwhile, the NNPC from a recent letter to the Finance Minister, Mrs Kemi Adeosun, in a bid to exonerate itself from any wrongdoing in the FAAC imbroglio, inadvertently let out very damning information about its own operations.

https://thecitizenng.com/nnpc-and-the-subsidy-claims-thisday/

The Minister of Finance, Mrs Kemi Adeosun, had locked horns (like the diligent minister that she is), with the all-powerful, majestic NNPC board, declaring their account to the FAAC, chaired by the minister, “unacceptable” and urging them to render the full account of the missing billions before any funds were released to the federating units.

In a more vibrant democracy, this alone would have choked up the headlines for days if not weeks on end until it was resolved, and someone made to account.

But, here in Nigeria, there was a palpable air of indifference and a sense of déjà vu about the shenanigans from the top level government functionaries.

I, myself, had written in the July 10 piece that the “standoff” between the minister and the NNPC would “likely melt away in the early morning fog – as they do”. What happened?

Last week, it was widely reported that the subsequent meeting of the FAAC ended in a “deadlock” and had been suspended indefinitely. There really was no “deadlock” in fact, as the meeting could not go ahead due to a lack of quorum.

Just imagine this, a serious issue of non-remittance of funds was reported to the committee by the Minister of Finance one week, and there was a lack of quorum for the FAAC to do its due diligence the very next week?

Then, what happened just a couple of days ago? Members of the FAAC rushed back to the committee and voted to work within the ambit of the “unacceptable” account hitherto presented by the NNPC.

The Minister of Finance was asked to find a way of clearing up her reservations about the NNPC submission with the corporation later. Questions about the unremitted billions have been set aside; kicked into the long grass.

This is a very Nigerian (Third World) approach to public finance that the London-trained Minister of Finance might see as a culture shock, and a rude awakening of some sort.

She had tried valiantly to do the right thing, acting to safeguard taxpayers’ and the Federal Government’s interests in rejecting an incomplete, perhaps, fraudulent account from the NNPC, the goose that lays the golden egg for us all.

Tried as she might, it looks as if the “deep state” clipped the minister’s wings, she took a bow, and life goes on.

Read more: http://punchng.com/nnpc-faac-adeosun-and-the-missing-billions/

Wetin Ambode Don Do Sef! 35 Achievements by Governor Ambode in Lagos!

1. Backlog payment of N11billion as arrears to retirees of Lagos State Government.

2. Built the Safety Arena, in Oshodi, to bring all the Departments and Agencies responsible for safety and emergency management under one roof.

3. Completed or close to completing more than 300 Local Government road projects, since 2015.

4. Repositioned Lagos State Emergency Agency, LASEMA. The Agency now operates via 4 centres, namely Command & Control Centre, Alausa, Ikeja; LASEMA Response Unit (LRU) Cappa Oshodi; LASEMA Response Unit, Lekki (by Lekki-Ikoyi Link Bridge) and LASEMA Response Unit, Onipanu. Equipped LRU with modern equipment (trucks, power bikes, heavy-duty vehicles and fire trucks, Mobile Intensive Care Ambulances and Light Rescue Equipment, and 14 new BMW Power Bikes for on-spot reconnaissance assessments of emergency incidents.

5. Launched Amnesty period for land/property owners to obtain/regularise building permits. Between March 1 and August 31, 2018, Lagos State Government will not charge any penalty for those who have erected structures on their land without a building permit. This window offers a 6-month grace period for landowners to obtain their building permit.

6. Commenced construction of 10-lane Oshodi--Murtala Muhammed Int'l Airport Road, scheduled for completion by December 2018.

7. Completed palliative repair work on section of the Lagos-Badagry Expressway between Eric Moore and Okokomaiko. Work ongoing on Okokomaiko to Badagry section.

8. Established Lagos State Consumer Protection Agency, LASCOPA in 2017, for speedy redress of consumers’ complaints.

9. Acquired equipment worth more than 5 billion Naira for the State Police Command and Rapid Response Squad. Equipment donated include 100 4-door salon cars, 55 Ford Ranger pick-ups, 10 Toyota land cruiser pick-ups, 15 BMW power bikes, 100 power bikes, Isuzu trucks, three helicopters, two gun boats, 120 power generating sets, 15 armoured personnel carriers, revolving lights, siren and public address system, vehicular radio communicators, security gadgets including bullet proof vests, helmets, handcuffs, uniforms, kits and improved insurance and death benefit schemes for officers.

10.Launched the Bus Reform Initiative, to bequeath a world class transportation system to the State. It will see the construction of new bus terminals, introduction of 5,000 new buses, and construction of 100 modern Bus Shelters across the State. Already completed Tafawa Balewa Bus Terminus and Ikeja Bus Terminus; Acquired 434 new buses for Ikorodu Bus Rapid Transit (BRT) corridor; and commenced work on Oshodi-Abule Egba BRT corridor along the Lagos-Abeokuta Expressway (13.5 kilometers; 14 bus stations; 14 pedestrian bridges).

11.Launched the Lagos To The World (#L2W) global campaign, to better market and communicate investment opportunities in the State. As part of the launch of L2W, the Ambode Administration has also unveiled a deal book detailing investment opportunities in key sectors including health, transportation, oil and gas, among others.

12.Employed 1300 teachers into primary education system; and Provided free medical services and psychosocial therapy to 700 survivors of domestic and sexual violence.

13.Presented 500 million Naira in Grants to 275 Community Development Associations in July 2018 to enable them complete various self-help projects.

14.Installed Skywalk Bridge to link Terminals 1 and 2 at Oshodi Bus Interchange

15.Upgraded 9,174 square meter Alfred Rewane Garden, Ikoyi and opened it for use by members of the public within and around the Ikoyi axis.

16.Established N25 billion Lagos State Employment Trust Fund. The Fund has provided loans worth more than 5 billion Naira to more than 8,000 persons since inception, and helped create more than 11,000 jobs.

17.Commenced development of N49 billion Public Private Partnership Medical Park in Ikoyi, to be located at the old Nursing School along Awolowo Road, Ikoyi. (Lagos State contributing land; private investors putting up the funding).

18.Redesign of Lekki-Epe Expressway to improve journey times and reduce gridlock by replacing roundabouts with traffic lights

19.Launched Ready-Set-Work, an entrepreneurial and employability training programme aimed at ensuring that every student who graduates from any tertiary institution in Lagos has knowledge, skills, and attitude required to gain employment upon graduation. More than 2,500 final year students trained since 2016.

20.Launched Lagos State Traffic Information System (LATIS), a world-class traffic information and management system comprising hundreds of cameras, road sensors and electronic displays specially designed to collect and deliver real time information to city commuters, and thus help regulate traffic.

21.Launched Code Lagos, an initiative aimed at teaching 1 million Lagos residents to code by 2020. Currently, Code Lagos has trained over 31,000 Lagosians to code while 364 Coding Centres have also been set up in 352 primary and secondary schools as well 12 Out-of-School Centres. http://codelagos.org/

22.Annual hosting of Lagos City Marathon, since 2016. The Marathon has placed Lagos on the global athletics map.

23.Received Presidential approval for handover of National Stadium to Lagos State, to redevelop and transform it into a world-class facility; Rehabilitated Agege Township Stadium to meet Confederation of African Football (CAF) standards; and Mobolaji Johnson Sports Complex, Rowe Park, Yaba

24.Upgraded 14 flagship Primary Healthcare Centres (PHCs); Provided 20 Mobile Care Unit ambulances and 26 Transport Ambulances across the State; Approved the establishment of three new Maternal/ Child Health Care Centres to expand the scope and reach of public health service delivery.

25.Constructed Flyover bridges for Ajah and Abule-Egba areas, and Multiple Lay-by to ease traffic congestion along the Third Mainland-Iyana-Oworo-Toll Gate Road.

26.Established Special Task Force, ‘Operation Restore Sanity On Lagos Roads,’ to clear Apapa-Oshodi Expressway of Trucks, Tankers and Trailers. Between July 20 and 22, 2018, the Task Force successfully cleared more than 2,000 Trucks from section of road between Toyota Bus Stop and Mile 2.

27.Rebranded and expanded the Lagos Countdown, into the One Lagos Fiesta, to boost tourism and entertainment. The fiesta now holds simultaneously at five locations across the state: Ikorodu, Epe, Badagry, Lagos Island and Ikeja

28.Established three new Fire Stations at Bolade-Oshodi, Ejigbo and Abesan, and upgraded facilities at the existing Fire Stations in Alausa, Ikeja, Isolo, Agege, Ilupeju, Badagry-Suru, Ikotun and Agege. Rehabilitated 225 old fire hydrants in Lagos metropolis, and installed 50 new ones connected to the mini/micro water works across the State. Also employed 250 new personnel into the Lagos State Fire Service, and purchased new fire-fighting equipment such as complete sets of Master Breathing Apparatus, Tripod Stand Rescue Equipment, Dragon Max Floodlights, Duraline Hoses, and Power Stream PPU Blower.

29.Completed Ojodu-Berger Flyover Intersection; completed 21 roads and two bridges with a combined stretch of 27.4 kilometers in Alimosho-Agbado-Oke-Odo area.

30.Established Relief Resettlement Camps in Agbowa and Igando to cater for IDPs across the State.

31.Established Office of Overseas Affairs and Investment to promote and coordinate investments in Lagos State, and the Small Claims Court to fast-track justice delivery in commercial disputes involving claims not exceeding N5 million. The entire period of proceedings from filing to judgment will not exceed 60 days.

32.Developed the Strategic Plan for Accelerated Agricultural Growth (SPAAG), and set aside 50,000 acres of land for agriculture in the State. The land will be allocated to farmers and investors for production of tomato, rice, fish, etc.

33.Collaborated with Kebbi State to produce LAKE (Lagos-Kebbi) Rice; and with Kano State to organize the first Lagos-Kano Economic Summit.

34.Launched, in partnership with the private sector, the Cleaner Lagos Initiative (CLI), to improve waste management and processing in the State, by, among other interventions, constructing Transfer Loading Stations, Maintenance Depots, and Engineered Sanitary Landfills.

35.Signed into law the landmark Lagos State Electric Power Sector Reform Law, to guarantee 24-hour power supply in line with Governor Ambode’s vision to attain a 24-hour economy. Also signed into law an Amended Land Use Charge Law.


Compiled by the #ExplainsLagos Initiative

Group Condemns Campaign of Calumny Against Kemi Adeosun

Stop distracting Adeosun over NYSC certificate, group tells critics



Critics have been advised to stop the campaign against the Minister of Finance, Mrs. Kemi Adeosun, over National Youth Service Corps (NYSC) exemption certificate, alleging it is a conspiracy to distract and tarnish her reputation.

The Coalition of Civil Society Groups (CCSG), which gave the advice, noted that in NYSC, there is no caveat on age and time to request for exemption letter if one is above 30 years, adding that the scheme is primarily to inculcate in youths the spirit of selfless service to the nation.

In a statement signed by Emmanuel Bako, Mike Olorunfemi, Nnamdi Okoroji, Lillian Cosmas, Fred Okoliko and Bashir Abubakar after their meeting in Lagos yesterday, they urged the public to discard stories trailing the news space.

https://m.guardian.ng/news/stop-distracting-adeosun-over-nysc-certificate-group-tells-critics/

Stop Campaign Of Calumny Against Finance Minister, Group Cautions Nigerians


Published 1 min ago on July 15, 2018

By Abuja, Ebriku John Friday

The Coalition of Civil Society Groups (CCSG) has called on Nigerians to stop the campaign against the Minister of Finance, Mrs Kemi Adeosun, saying the campaign was done in bad faith and to distract her.

The group in a Communiqué’ signed by seven different organisations after it meeting in Lagos called on Nigerians to discard the judgment and condemnation trailing the News space. It stated that there is no caveat on the age and time to request for exemption letter if one is above the Youth Service Year of 30.

“The Group notes that, the purpose of the youth service scheme is primarily to inculcate in Nigerian Youths the spirit of selfless service to the community, and to emphasize the spirit of oneness and brotherhood of all Nigerians, irrespective of cultural or social background. “Secondly foreign graduate are not mobilized from the school of study directly but by the application of interested graduate.

“On the time to approve and exempt any person is not bound by time if the circumstances surrounding the exemption are considered cogent by the Directorate,” it said.

It said further that it will be out of place to condemn the minister’s sincere gesture to secure what was due to her as at the time she applied for it. And that she is also not guilty to have stayed back after her studies as long as the reasons for that action are reasonable and justifiable.

“It is on this ground that we make bold to say that the hullabaloo occasioned by the media publication was done in bad faith and to cause distraction at this period, this we don’t need as a nation especially at this period.

Hence we call on well-meaning Nigerians to discard the judgment and condemnation trailing the News space.

Read More at: https://leadership.ng/2018/07/15/stop-campaign-of-calumny-against-finance-minister-group-cautions-nigerians/

https://leadership.ng/2018/07/15/stop-campaign-of-calumny-against-finance-minister-group-cautions-nigerians/

She was elected because she is capable. The World sees what she has done so far. You can't deny it, she has done immensely well with the little available to her. If you still believe she forge certificate, I think you should have a reset.

PASTOR BAKARE AND MINISTER ADEOSUN DIDN'T MEET WITH PRESIDENT BUHARI

Stories with insinuations are making the rounds that Pastor Tunde Bakare of Latter Rain Assembly and Minister of Finance, Mrs Kemi Adeosun, met together with President Muhammadu Buhari at State House, Abuja,Friday. Far from the truth.

The Minister was at the Presidential Villa in connection with the Annual General Meeting and 25th Anniversary Celebration of African Export-Import Bank (AFREXIMBANK) holding Saturday in Abuja, which would be graced by President Buhari.

She ran into Pastor Bakare, who was on a scheduled visit to see the President, and they exchanged pleasantries.

The cleric particularly thanked the Minister for finding time to attend his mother's funeral, which took place in Abeokuta, Ogun State, penultimate weekend.

Mrs Adeosun had seen President Buhari not fewer than three times earlier in the week, and did not need to meet with him again on Friday.

This statement is to put events in proper perspective, and dispel all conjectures and fictive reporting.

Femi Adesina
Special Adviser to the President
(Media and Publicity)
July 13, 2018

Pastor Tunde Bakare: “The story published by some social and print media today is both cheap & sensational journalism. Minister of Finance, Kemi Adeosun & I arrived at the Villa at different times. We met at the corridor. She went on to see someone else in the Villa and I went into a closed door meeting with PMB alone to thank him for sending a powerful delegation to my mother's Home-going Celebration. This is the truth. The impression being created is as if she ran to me to speak to the President on her behalf. This impression is erroneous and false. I will appreciate that my side of the story is also published. Many Thanks.”

Pastor Tunde Bakare: “The story published by some social and print media today is both cheap & sensational journalism. Minister of Finance, Kemi Adeosun & I arrived at the Villa at different times. We met at the corridor. She went on to see someone else in the Villa and I went into a closed door meeting with PMB alone to thank him for sending a powerful delegation to my mother's Home-going Celebration. This is the truth. The impression being created is as if she ran to me to speak to the President on her behalf. This impression is erroneous and false. I will appreciate that my side of the story is also published. Many Thanks.”

Adeosun had repeatedly argued that tax revenue generation would provide the needed resources for Nigeria's infrastructural gap and development.

Her combative stance against tax defaulters has been applauded by many Nigerians but also created many enemies for her, especially crooked businessmen and women who has taken advantage of the system for many years.

https://todaynewsafrica.com/nigerias-federal-inland-revenue-service-realizes-n2-5-trillion-in-6-months-as-adeosun-goes-after-tax-evaders/

THE"GOTCHA" HYPOCRISY AGAINST MINISTER KEMI ADEOSUN:


More facts are emmerging about the "saga" of the manufactured hypocritic saga of "forged exemption certificate" against Minister Kemi Adeosun.

Make no Mistake about it. This is political skulldudggery.

Corruption is indeed fighting back because, as Dr. Ngozi Iweal-Okonjo elloquently put it in her recent book, in Nigeria, "Fighting corruption is dangerous"

Unlike what some make it out to be, Minister Kemi Adeosun did not "skip" doing NYSC as some would make it seem.

She was not born in Nigeria. She did not go to school in Nigeria.

She was Born in 1967 in London to Nigerian Parents.

She attended her Primary, Secondary and University in the UK; And only came to work in Nigeria (Private sector) for the first time in 2002 at the age of 35 years old.

She went into political appointive Service (Ogun State Commisioner of Finance in 2011) at the age of 44 years.

If she is not entitled to exemption? Then there is something terribly wrong with our system.

We are in effect telling all men and women born to Nigerian parents in the Diaspora to come back to Nigeria for NYSC, or they should forget ever thinking about coming to the homeland of their parents to work!

It does not make sense.

She attended her Primary, Secondary and University in London; Started her career at 22 years Immediately after finishing her University Education.

Is it a reasonable expectation to expect a 22 year old to come to an unfamiliar country - because it is the land of the birth of his/her parents? - Even if at that point such a person has no firm plan to come to Nigeria to work?

I strongly argue that she is entitled to exemption from the NYSC. Absent that, then it means we are foreclosing from participation, a large swath of potentially valuable skill set endowed people. It would be foolish.

I know for sure my American Born son will never consider coming to work in Nigeria at the age of 22 years old. But I am very optimistic that with more maturity, he will see the value of coming to pitch tent back home.

Especially if the security situation and evonomy improves.

Therefore, in my opinion, the talk of Minister Adeosun "skipping NYSC" should not even arise. She did not skip NYSC.

She is entitled to be "exempted"

Now, having disposed of that, the only issue in this matter to my mind that need thrashing is: "was her exemption Certificate 'forged' "?

In answer to that, I make bold to say we do not know at this point.

But, I am willing to go on a limb to say "No. She did not forge an 'exemption' certificate".

It does not even make sense to do so. And if she does, I will consider her very very foolish in doing so.

Most likely scenario is this: She appropriately sought exemption. And because of her (or someone's) influence, somebody facilitated the exemption.

Now weither the right signature was appended to the certificate or not cannot be her burden to shoulder. She should not, in all fairness, be held accountable for something she did not do.

If she went to a printer and printed a fake exemption certificate and passes it around as her exemption certificate, then a prima faciae case of "Forgery" can be made against the Minister.

But to allege forgery against somebody who presumably applied for and got a bonafide exemption certificate issued from out of the NYSC is, to say the least uncharitable; And shows our proclivity to run down those working hard to correct the distortions in our body politic and economy.

The most important thing to me is a bonafide certificate issued from out of NYSC. She is not responsible for who signed it.

For those who are out with the "crusify her" pitch forks, how many of you are sure that your NYSC certificate was signed by appropriately designated NYSC official?

Have you check?

For me, i just collected mine and left. I have no guarantees that the appended signature was that of the appropriately designated Official.

This is NYSC discharge certificate. Talkless an exemption certificate

How is she supposed to know that her NYSC exemption Certificate has appended to it the signature of the "wrong" official?

Mind you, like I alluded earlier, the position some are taking on this matter is, in effect, foreclosing the possibility of children born to Nigerians in the diaspora from ever coming to work in or for Nigeria in the later stages of their lives.

Do we want to travel that route just to score cheap political points? Or do we want to keep the possibility that some of these Men and Women born to us in the Diaspora can some day come and contribute to our nation's developement?

Finally and in closing. Minister Adeosun should never ever resign. She is one of the most effective Ministers in this administration.

The nay sayers and corrupt skulldudggers are doing this because of the effective work she is doing. They want to weaken the President by picking off his key Ministers.

Premium Times and the Hatchet Job Against Kemi Adeosun

Once again poor and shoddy investigative journalism appears to be winning. This time the victim is Kemi Adeosun, Minister of Finance.

Premium Times a few days ago ‘broke’ news alleging that Mrs Adeosun presented a forged NYSC exemption certificate. The main evidence they had was that the certificate was signed by an NYSC DG who was no longer in office as at the date on the exemption certificate.

While it is true that the late Brigadier General Yusuf Bomoi left the NYSC in January 2009, we now know that several certificates issued after that date in 2009 still bore his signature.

Several people on social media have since shared photos of their certificates issued after January 2009 (when the late Brigadier General Yusuf Bomoi) handed over to Brigadier-General M.I. Tsiga as DG of the NYSC. Are all these certificates fake or forged as well?

The DG of the NYSC does not ‘hand-sign’ every certificate by himself, just as the CBN Governor does not physically sign every currency note. No human being can do that. The certificates are printed in bulk in advance, and then filled out with the name of the recipient and other details. Up till after Gen Bomoi left the NYSC certificates bearing his signature were being genuinely issued.

The truth, sadly, is that Premium Times has goofed again. This is not the first time they are publishing falsehood about Mrs Adeosun, falsehood for which they have never apologized, even when proved wrong. They keep allowing themselves to be used as a tool in the hands of people who want to undermine Mrs Adeosun and her work as Finance Minister.

As Mrs Adeosun’s predecessor as Finance Minister, Ngozi Okonjo Iweala wrote in her new book, ‘FIGHTING CORRUPTION IS DANGEROUS’, powerful and corrupt vested interests not only kidnapped her mother, but also made plans to physically hurt the Minister. “They asked my brother to tell me to announce on national television and radio that I was resigning from my job as Finance Minister and leaving the country.” Another time some powerful people humiliated her at the State House when she came visiting with the IMF President.

Now we are witnessing the same thing, and the victim this time is Mrs Kemi Adeosun. Corruption is fighting back, and Premium Times and other newspapers are allowing themselves to be used as tools, sadly.

Even when the NYSC issued a statement on the matter, acknowledging that the Minister indeed properly applied for an exemption, Premium Times chose a false and sensational and most unprofessional headline to report the news, alleging that the NYSC had ‘disowned’ the Minister, when what the NYSC did was the complete opposite of disowning her.

Let us avoid the rush to judgement. Mrs Adeosun is the victim of powerful enemies whose toes she has stepped upon in the battle to redeem Nigeria’s finances from the hands of ghost workers, tax evaders and other financial criminals. She will overcome, as she has always done.

The Silence Treatment

I am of the opinion, as evident by the image below, that the former DG NYSC signed all the certficates for that year ( 2009 ) before retiring in Jan, 2009.

I am of the opinion, as evident by the image below, that the former DG NYSC signed all the certficates for that year ( 2009 ) before retiring in Jan, 2009.

FEDERAL MINISTRY OF FINANCE
HEADQUARTERS, AHMADU BELLO WAY, CBD
PRESS UNIT, 4TH FLOOR

News Release July 09, 2018


AFREXIMBANK HOLDS AGM AND 25TH ANNIVERSARY

The 25th Anniversary and Annual General Meetings of the African Export lmport Bank (AFREXIMBANK) begin on Wednesday 11th - 14th July, 2018, at the Transcorp Hilton Hotel, Abuja.

The Annual General Meetings are open to the Banking Industry professionals, Trade and Trade Finance practitioners and other stakeholders involved in economic development from across Africa and beyond.

The meetings are also attended by business and political leaders and reputed to be among the most important gatherings of economic decision-makers in Africa.

The Honourable Minister of Finance, Mrs Kemi Adeosun is leading the Nigerian team and Government to host the Investment Forum/Trade Exhibition during meetings.

To celebrate its 25th anniversary, Afreximbank invited many individuals who played key roles in the establishment and development of the bank.

In addition to the formal celebrations, Afreximbank has lined up a series of musical and other entertainment activities for guests, including performances by some of Africa's best known artistes. Nigeria Afropop star, Davido and the San Vincente Carnival Troupe from Cape Verde are among confirmed performers.

The event will be concluded on 14th July with the Annual General Meeting of Shareholders of the Bank.

African Export-lmport Bank (Afreximbank) is the foremost pan-African multilateral financial institution devoted to financing and promoting intra and extra - African trade.

The bank was established in October 1993 by African Governments, African private and institutional investors, and non-African investors.

Since 1994, it has approved more than $51 billion in credit facilities for African businesses, including about $10.3 billion in 2016.


HASSAN DODO
DIRECTOR (INFORMATION)

KEMI ADEOSUN: DRIVING FAR-REACHING REFORMS IN NIGERIA’S

FISCAL OPERATIONS MANAGEMENT

With the inauguration of President Muhammadu Buhari’s administration in May, 2015, and subsequent assumption of duties as the Honourable Minister of Finance in November, 2015, Mrs. Kemi Adeosun has focused her attention on the initiation, development and aggressive implementation of innovative fiscal operations management policies and initiatives aimed at redressing the economic fortunes of the country, as well as facilitating the realisation of the Administration’s cardinal principles of transparency and accountability. Armed with a robust experience in both the private and public sectors of the economy, Mrs. Adeosun set to work by introducing very novel and bold reforms that have significantly curtailed wastages in governance, and reduced fiscal leakages, thereby achieving unprecedented savings for the Nigerian government.



In keeping with that focus, the Minister has played leading roles in the development of various cost cutting initiatives through the pursuit of carefully thought out policies aimed at promoting transparency in the payment process, drastic reviews of the procurement process, the sanitisation of the public-sector payroll system, leading to the elimination of huge number of ghost workers, amongst other laudable objectives.



The Minister played a leading role in the setting up of the Presidential Initiative on Continuous Audit (PICA), which has since become the key platform for ensuring controls and effective oversight over the utilisation of public funds under the present Administration. Through PICA, the HMF has placed stringent checks on the expenditure of government revenue to ensure cost-effectiveness and accountability. Through the work of the PICA Team, several recoveries have been made in fake subsidy claims, discoveries of financial misconduct in the Pension Transitional Arrangement Directorate (PTAD), recovery of salaries paid to ex-Diplomats, etc.





WHISTLEBLOWER POLICY



As a way of encouraging public participation in the fight against corruption, the Minister introduced a landmark Whistle-blower Policy, which was launched in December, 2016. The policy is designed to support the fight against graft by exposing financial crimes and rewarding credible informants of such malfeasance. Working through PICA, the Ministry has received 8,373 communications as a result of the Whistleblower Policy on contract inflation, ghost workers, illegal recruitment and misappropriation of funds. Out of the total communications, 1,231 are whistleblowing tips. The Ministry has undertaken 791 investigations and completed 534 of those investigations. Ten are presently under prosecution and four convictions have been secured.

Under the Whistleblower Policy, the Federal Government has recovered directly, as a result of tips received from whistleblowers, the sum of N7.8 billion, US$378 million and GBP27,800. In May 2018, the Government paid N439,276,099.86 to about 14 whistleblowers who gave specific tips on tax evasion. From the specific information provided on companies which underpaid their taxes, the Government was able to recover the sum of N13.8 billion as a result of those specific tips. The Whistle-blower policy has helped tremendously in facilitating recoveries of ill-gotten funds and assets.





VOLUNTARY ASSETS AND INCOME DECLARATION SCHEME (VAIDS)





The Federal Government on June 29, 2017 launched a revolutionary and bold reform initiative – the Voluntary Assets and Income Declaration Scheme (VAIDS), through which citizens (tax payers) are offered a window of opportunity to regularise their tax status relating to previous tax periods, without incurring penalties. Prior to the introduction of the policy, Nigeria’s tax compliance record was very poor with only about 14 million out of an estimated 70 million economically active Nigerians paying their taxes. This has become more compelling, given Nigeria’s Tax Revenue-to-GDP ratio of 6%, which has remained one of the lowest in the world in comparison with countries in Nigeria’s peer group. The robust implementation of VAIDS has seen an increase in the number of tax payers from 13 million before the assumption of Office by the incumbent Administration to 14 million in 2016 and 19.3 million in 2018. It is instructive to note that some local and foreign companies are now disposed to the VAIDS initiative, and have started to regularise their tax status.



Other critical areas where the Minister has made very commendable impact on the Nigerian economy, include:



Creation of Efficiency Unit

The Efficiency Unit was set up in November, 2015, about two weeks after Mrs. Adeosun’s assumption of office as Minister of Finance. The Unit was established to reduce wastages, promote efficiency, ensure prudence and add value for money in all government expenditures. The thoroughness with which the Unit has conducted its activities of monitoring the Ministries, Departments and Agencies (MDAs) of government, identifying and eliminating wasteful spending, duplication and other inefficiencies and identifying best practices in procurement and financial management has so far resulted in an annual savings for the Federal Government.

In pursuing its mandate, the Efficiency Unit in its short history has made several achievements engaging and working with key Public Sector stakeholders. They include:

1. Cost Cutting: The E-Unit has embarked on several cost cutting initiatives that has influenced the issuance of Circulars to all MDAs by the Secretary to the Government of the Federation, the Head of the Civil Service of the Federation, and the National Salaries, Wages and Income Commission. The issuance of these Circulars has led to curtailed and better management of certain recurring processes and activities relating to travels, sitting allowances, souvenirs, and others resulting in savings. The Government has saved Thirty-Four Billion Naira (N34 billion) on Travel & Transport for 2016 compared to 2015 figures and a further Fifty-Seven Billion Naira (N57 billion) on same Travel & Transport in 2017 compared to 2016. Again, on Office Stationeries & Computer Consumables, the Government saved Twenty Four Billion Naira (N24 billion) in 2016 as against the previous year and a further Ten Billion Naira (N10 billion) in 2017 compared to 2016 Expenditure on the same Line Item.



2. Promoting Transparency In Payments: The E-Unit has recommended to the Accountant General of the Federation the use of Debit Cards by government officials for payments instead of cash. This would plug loopholes and improve accountability in spending.



3. Procurements: The E-Unit has initiated some measures to improve the subsisting procurement process to generate savings using the government’s large purchasing power, improve transparency in the procurement process, and reduce the administrative costs associated with the procurement process. Successful outputs include:

a. Secured discounts ranging from 5-50% from airlines for local and foreign travels. The agreements with the other airlines are at various stages of finalization and on conclusion will save the Government huge amount travels.

b. The introduction of a Price Checker, a web-based platform which is being developed with the Bureau of Public Procurement will provide a portal for vendors to upload prices of their non-customized goods which Ministries, Departments and Agencies (MDAs) will use for procurement, thereby providing more transparency and eliminating sharp practices in the procurement process.

c. The introduction of a Circular on Framework Agreements by the BPP (in progress) which will enable MDAs pull their demands for standard goods (bulk purchasing) thereby reducing the administrative costs associated with the subsisting procurement process and securing good discounts from suppliers.

d. Harmonization of the Insurance process of all Critical Assets/Liabilities of Government for all MDAs (in progress). This will ensure that budgetary provision is made for insurance premium by MDAs and that cover is procured timely and efficiently to avoid undue exposure of Government Assets/Liabilities to insurable risks.



Treasury Single Account

Even where the Treasury Single Account (TSA) project was conceived by the previous administration, its aggressive and successful implementation was midwifed by Mrs. Adeosun as the Minister of Finance. Under this initiative, all Federal Government’s accounts with the Commercial Banks were transferred to a pool account with the Central Bank of Nigeria (CBN), known as the TSA. The Office of the Accountant-General of the Federation (OAGF), an agency under the Honourable Minister, had the statutory mandate to drive the implementation of this policy with support from the Central Bank of Nigeria (CBN). The TSA has further brought about transparency and effective tracking of Government’s revenues and blocking of leakages and abuse, which hitherto characterized Public Finance Management in Nigeria. Other benefits of the TSA include: to ensure availability of funds for the execution of government policies, programmes and projects, control aggregate cash flows within fiscal and monetary limits, improve management of domestic borrowing programme, enable investments of idle funds and improve transparency and accountability in the management of all FGN receipts and have a consolidated view of Government’s cash flow.



There is no gainsaying the fact that the implementation of the TSA Project has brought about enormous benefits to the Federal Government and the Nigerian economy.



Clearing of Inherited Pension Arrears

It is on record that under Mrs. Kemi Adeosun, as Minister of Finance, the Government has settled outstanding pension arrears up to March, 2017. The sum of 41.5 billion was released by the Federal Ministry of Finance to pay off outstanding pensions arrears of 2014, 2015 and 2016, while the sum of N12.5 billion was paid out to clear pension claims for up to March, 2017, bringing the total payment of outstanding pension arrears by the current administration to over N54 billion – an unprecedented feat, which has been commended by the various workers’ unions.



Establishment of Development Bank of Nigeria

In the 2016 Annual Meetings, Mrs. Adeosun led the Nigerian delegation that negotiated with the World Bank Group (WBG), African Development Bank (ADB) and European Investment Bank (EIB) for the take-off loan of USD1.3 billion (N396.5 billion) for the Development Bank of Nigeria (DBN). The CBN approved the operating license of the Bank in March 2017, subject to the provision of a minimum capital requirement of N100 billion and other conditions, which have since been satisfied. The DBN is to provide loans to all sectors of the economy, including, manufacturing, services and other industries not currently served by existing development banks, thereby filling an important gap in the provision of finance to Micro, Small and Medium Enterprises (MSMEs). As a wholesale bank, the DBN lends wholesale to microfinance banks, which in turn on-lend medium to long-term loans to MSMEs. Already, the DBN has a N5 billion line of credit to be accessed by MSMEs through its partner institutions.



The MSMEs’ contribution to the country’s economic growth cannot be over-emphasised. However, they seem to have access to only about 5% of lending from Deposit Money Banks. With the establishment of the DBN, there will be greater long-tenored credit facility to MSMEs at minimal borrowing costs.



Addressing the Huge cost of Government’s Borrowing

Under Mrs. Kemi Adeosun as Minister of Finance, the Debt Management Office (DMO) has commenced the bold initiative of refinancing high cost short-term domestic debt with relatively cheaper and longer tenored external debt, as part of its overall Debt Management Strategy of progressively achieving an optimal debt portfolio composition of 60:40 for Domestic and External debt respectively. Thus far, Nigeria has refinanced costly and short-tenored domestic bonds with about USD3 billion longer-tenored Eurobonds. The implementation of the debt refinancing strategy process has already led to a reduction in the cost of domestic borrowing, which has also reduced the cost of the country’s debt portfolio. In addition, it is also expected that lower domestic rates will benefit corporate borrowers in accessing domestic capital from the banks.



Asset Tracking and Management Project

Under the supervision of Mrs. Kemi Adeosun, the Federal Ministry of Finance, launched the Asset Tracking and Management Project (ATM Project) in 2016. By the ATM Project, the Federal Government for the first time, is able to locate, identify, assess and evaluate all its moveable and immoveable assets on a real time basis. Also, a Central Asset Register was created and domiciled in the Ministry for recording the actual quantity, value, condition and location of all the capital assets belonging to the Federal Government. These initiatives are in line with the requirements of the International Public-Sector Reporting Standard (IPSAS), which has also been implemented under the supervision of the Minister. The ATM Project and Asset Register initiatives become particularly relevant because of the importance attached to capital expenditure by the current administration.



Fiscal Sustainability Plans and Budget Support Facility for States of the Federation

In her quest to institute fiscal prudence, transparency and accountability in the management of States’ resources, Mrs. Adeosun introduced the Fiscal Sustainability Plan (FSP). The FSP further seeks to improve public revenue, through rationalizing public expenditure, prudent financial management and facilitating sustainable debt management. The Framework has twenty-two core action points, which are expected to lead to the path of fiscal governance and sustainable economic growth. The implementation of the FSP by the States is a condition precedent for the States to access further Budget Support Facilities from the Federal Government, to which most States have already benefited from, in line with its terms and conditions.



Conclusion

It is very evident that the Federal Ministry of Finance, under the dynamic leadership of Mrs. Adeosun has stepped up the tempo in addressing the myriads of economic challenges posed by the demands of reflating an economy that was badly battered by years of mismanagement, fiscal leakages, depleted reserves and poor budget performance. She has remained very innovative in churning out reform policies and initiatives that have helped, in no small measure, to stabilising the Nigerian economy, and putting it on the path of sustained growth.

In Defence of Kemi Adeosun

By Oluwole Adesina

And Kemi Adeosun is their target again. I can see that some reasonable Nigerians are falling for the blackmail of Kemi Adeosun.

Once you blocked their channel of stealing then they look for stupid way to blackmail you through their pay as you go journalists.

This week at Federal Executive meeting Kemi Adeosun sought for Executive Order for all the department agencies to publish how they spend their budget and it was granted. Guys should remember also that she put NNPC on the spot with the way they remitted money to the Federation account. She practically scolded them.

And what happened thereafter?

Kemi Adeosun forged NYSC certificate and she must resign.

Here is my question for those who believe that Kemi erred and should resign.

Please I want you all to tell me the difference between Carl Iheme/Leon Balogun and Kemi Adeosun.

The two footballers born by Nigerian parents in overseas are allowed to represent the country where their parents were born in sport but they are not needed politically.

I think it has got to a stage now where our children born in overseas should think twice before they represent Nigeria.

Kemi Adeosun clocked 51 years in March. Born in London and had all her education in her country of birth. Never lived in Nigeria until Gov Ibikunle Amosun made her Commissioner for Finance in Ogun at the age of 41.

If we are to go by Premium Times logic Kemi should have done her service at the age of 40 before her appointment. Here was the poor lady who never think of going back to Nigeria to work until Amosun approached her.

If I may ask: how many of Nigerian kids born in Britain and America return home for National Service? If you have adult kids in Britain or America like me please brush the idea with them and see their reaction. Do they need anything from Nigeria apart from being their root?

The same people who are upset with Dele Alli for not representing Nigeria are rubbishing Kemi Adeosun that had a good job in London before she went home.

By the way; what did law say about service when you are 30?

Yes, Kemi graduated before her 30 birthday but from which university? Unilag or Uniben?

It is a must requirement when you seek for elective office but not when you are appointed. She can't even seek for elective office because Constitution say so to people like her that were born outside Nigerian soil. So, why the hullabaloo about the NYSC?

I believe Mr President will laugh at our journalists way of reporting again. This stupid blackmail by Premium Times won't fly.

Just like the Miyette Allah's story, which backfired, another poor attempt by the media. This is so unfortunate in journalism.

You also copy the Premium Times exclusive, but let me remind you that Premium times published reports against Miyette Allah and later sacked the correspondent for publishing an unfounded report. They will soon come out with another apology.

These are lies. I'm sure the Minister has a valid exemption certificate given to her by the NYSC being above the required age of national service. Why would the media do this 'bad image' to journalism.

This is to discredit the Minister. This is hatred, it's not journalism. It is a campaign against the Minister trying to discredit her.

SEC Manager Testifies Against former Bosses over Payment of Car Grant

By Rasheedat A. Okoduwa

- Posted: 6 mins ago


SEC Manager Testifies Against former Bosses over Payment of Car Grant

In the ongoing trial of suspended Director-General of the Securities and Exchange Commission (SEC), Dr. Mounir Haliru Gwarzo, a witness called by the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Mr. Ajao AkintadeStephen, who is a senior manager in SEC, has admitted before the court that he facilitated the payment of N84,388, 886.12 to Dr. Gwarzo as monetized car grant.

The prosecution witness made this revelation before Hon. Justice Hassan Yusuf Baba of High Court 4, Maitama.

Mr. Ajao was led in evidence via examination-in-chief by ICPC counsel, Adeshina Raheem, and cross-examined by counsel to the 1st defendant, A. U. Mustapha, SAN and counsel to the 2nd defendant, C. I. Imukpoeruo.

The witness revealed that on 1st June, 2015 he had made computation for the car grant which the then Director-General was entitled to as it was a policy in SEC for DGs to have non-refundable monetized car grant for 4 cars which should be awarded based on the existing market value of the cars.

He went on to explain that his computation which came to N73, 405, 297.12 was sent back and he was made to come up with another amount of N84, 388, 886. 88.

Therefore, the difference in the first computation and the second computation was N10, 983, 589. 76 which was the amount the 2nd defendant, Zakawanu Garubaapproved for payment.

It should be recalled that Dr. Gwarzo is standing trial for allegedly misappropriating N115.8 million, while Mr. Zakawanu Garuba who is also standing trial with the former DG is accused of approving a N10.9 million car grant.

The matter has been adjourned to 20th and 21stSeptember, 2018 to enable ICPC present more witnesses.

Signed:

Mrs. Rasheedat A. Okoduwa, mni

ICPC Spokesperson

Read more at: https://prnigeria.com/2018/07/01/sec-manager-testifies-bosses-grant/

LAGOS STATE GOVERNMENT

OFFICE OF THE CHIEF PRESS SECRETARY TO THE GOVERNOR

BAGAUDA KALTHO PRESS CENTRE

The Secretariat, Ikeja, Lagos, Nigeria

P.M.B. 1613, Ikeja, Telegram: GOVLAG, Telephone:u

01-7743710

PRESS RELEASE

OTEDOLA BRIDGE INCIDENT: LAGOS RESTRICTS TANKERS TO DESIGNATED TRAILER ROUTE

…Gives 30-Day Ultimatum For Articulated Vehicles To Obtain Road Worthiness Certificate


Following the tragic tanker explosion on Otedola Bridge inward Ojodu Berger along Lagos-Ibadan Expressway which claimed lives and property, the Lagos State Government on Sunday restricted movement of Fuel Tankers to designated trailer route going forward.

The government also said it was now mandatory for all articulated trucks coming into Lagos to obtain the Ministry of Transportation’s Road Worthiness Certificate at any of the designated centres within the next 30 days.

Addressing a joint press briefing at the Bagauda Kaltho Press Centre in Alausa after meeting with all the relevant stakeholders including Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), Association of Maritime Truck Owners (AMATO), Petroleum Tanker Drivers (PTD), National Association of Transport Operators (NATO), Container Truck Owners Association of Nigeria, among others, the State’s Commissioner for Transportation, Mr Ladi Lawanson, said the decision became necessary following preliminary investigations into the incident which revealed a combination of vehicular defect and human errors.

Lawanson said: “As an immediate response to the latest incident, the Lagos State Government hereby announces the following measures: Fuel tankers are hereby directed to ply the designated trailer route, that is, Apapa-Oworonshoki Expressway via Ogudu to Lagos-Ibadan Expressway.

“All Tankers and containers coming into Lagos State from henceforth are directed to obtain the Ministry of Transportation Certificate of Road Worthiness at any of or centres within the next 30 days, while new centres along the Lagos-Ibadan Expressway will be established to quickly to cope with the expected demand for this service.”

He listed the 10 centres currently available to process the applications to include Berger, Ojodu; Odogunyan, Ikorodu; Agric/Ishawo Road, Ikorodu; Worksyard, PWD, Shogunle; NCI, Gbagada; VIS Yard, Oko-Afo, Badagry; VIS Yard, Ayobo-Ipaja; Test Centre, Badagry; VIS Yard, Epe; and VIS Yard, Oko-Oba Abattoir.

Lawanson, who addressed the briefing alongside heads of government agencies and the stakeholders, said preliminary investigation revealed that the affected tanker which exploded was registered in Nasarawa Local Government, Kano State with registration number NSR 888 YC, and had changed ownership 13 times since purchase.

“It (the tanker) was manufactured in 1999 by Mack Trucks Inc at its assembly plant in Winnsboro, United States. This truck was designed as a 14,959kg (approximately 15 ton) drilling rig with low bed, but it was converted in Nigeria from a drilling rig to fuel tank carrier to carry 30 tonnes.

“From this preliminary investigation, the truck should not have been loaded to the weight of 30 tonnes, which is twice its pulling capacity,” the Commissioner said, adding that further investigation into the current ownership of the tanker and other related details were progressing.

On suggestion of restriction of operation of tankers to certain hours, the Commissioner said having critically examined the issue especially considering the fact that imported petroleum products are pumped from import jetties at Atlas Cove through pipelines to Ejigbo Depots in Lagos, Mosimi (Ogun), Ibadan (Oyo), Ilorin (Kwara) and Ore (Ondo), and due to pipeline vandalism, any restriction of such would undermine supplies and threaten the wellbeing of the Nigerian economy since there is high demand for petroleum products across the country.

“This position has also been canvassed by the authorities in charge of the distribution of petroleum products in the consultations which followed the incident and at a time of great expectations for our economy to fully bounce back from recession, we believe that ensuring unhindered supply of petroleum products is indeed a patriotic contribution by Lagos State to the nation’s economic survival,” Lawanson said.

He, however, disclosed that the State Government was already exploring alternative modes of transportation of petroleum products to separate passenger traffic from cargo movements within the metropolis in the interest of the public safety and order.

He also said that government, in partnership with all the stakeholders, would set up joint-enforcement of the operating laws, while barriers would be installed on bridges in Lagos to prevent articulated trucks including Ojuelegba, Mobolaji Bank Anthony, Ekodeso, Abule-Egba, Lekki-Ajah, among others.

Giving update on the accident, Commissioner for Special Duties and Intergovernmental Relations, Mr Seye Oladejo said out of the four injured persons that were taken away from the scene, one unfortunately died while government is taking full responsibility for the treatment of others.

He particularly denied allegations that some victims were rejected by the General Hospital in Surulere, saying that the victims were only taken to LASUTH, Ikeja and Burns and Trauma Centre in Gbagada.

“When you have such incident of that magnitude, as part of our training as emergency responders, we need to be very careful the way we handle our communication so that we don’t raise unnecessary alarm. It is important for members of the public to remain calm while we get all our acts together, otherwise we would also be asking for another emergency.

“Altogether, nine people passed on at the incident and they were all burnt beyond recognition. We have set up a helpline at LASEMA to try and open a communication channel with members of the public and with family members of the victims. It is important that DNA is conducted otherwise we would end up giving the wrong bodies to some families to go and inter and that would become another issue entirely.

“This kind of situation really calls for patience and understanding on the part of members of the public and most especially families of victim. As much as we sympathize and commiserate, things still have to be done professionally. As a government, we are alive to our responsibility and the major business we have is to ensure safety of lives and property and we are committed to that. We have signed up on that, you are also aware of the massive investment of the State Government on issues bothering on emergency and response,” Oladejo said.

Besides, the Commissioner dismissed insinuation alleging that the integrity of Otedola Bridge had been compromised following the incident, saying there was no iota of truth in such, while government would soon fix the damaged section of the road.


SIGNED

HABIB ARUNA

CHIEF PRESS SECRETARY

JULY 1, 2018

#Budget2018 Highlights/Background

The President submitted the 2018 Budget proposals to the National Assembly on 7th November 2017.

The National Assembly finally passed the 2018 Appropriation Bill one hundred and ninety (190) days later, on May 16, 2018.

The N9.12 trillion version passed by the National Assembly contained an increase of N508 billion over and above the N8.612 trillion originally presented by President Buhari. The oil benchmark price was also increased from the US$45 submitted to US$51.

The plan was that the early submission would allow for quick passage to enable Nigeria commence a predictable January-December financial year starting in 2018.

During the process of the passage of the Bill, the National Assembly altered it significantly, making cuts amounting to 347 billion Naira in the allocations to 4,700 projects submitted to them for consideration, and introducing 6,403 projects of their own, amounting to 578 billion Naira.

These cuts affected several critical projects, including but not limited to the following:

- Mambilla Power Plant
- Second Niger Bridge/ancillary roads
- The East-West Road
- Bonny-Bodo Road
- Lagos-Ibadan Expressway
- Itakpe-Ajaokuta Rail Project
- Abuja Mass Transit rail project
- Various strategic interventions in the health sector (upgrade of some tertiary health institutions, transport and storage of vaccines, provision of anti-retroviral drugs, establishment of chemotherapy centres, procurement of dialysis consumables)
- Provision of security infrastructure in the 104 Unity Schools nationwide
- The Federal Government’s National Housing Programme
- Pension Redemption Fund and Public Service Wage Adjustment.
- Export Expansion Grant (EEG)
- Special Economic Zones/Industrial Parks
- Construction of the Terminal Building at Enugu Airport
- Take-off Grant for the Maritime University in Delta State

In addition, about seventy (70) new road projects have been inserted into the budget of the Federal Ministry of Power, Works and Housing.

The National Assembly increased provisions for Statutory Transfers by 73.96 billion Naira -- most of it recurrent expenditure -- at a time the Buhari Administration is doing its best to keep recurrent expenditure down and prioritise capital spending.

The National Assembly increased its own budget by 14.5 billion Naira, from 125 billion Naira to 139.5 billion Naira, without any discussion or consultation with the Executive.

The Budget signed into Law today by President Buhari provides for aggregate expenditures of 9.12 trillion Naira, which is 22.6% higher than the 2017 Appropriation.

Further details of the Signed budget will be provided by the Minister of Budget and National Planning, at a Public Presentation event to be held at 10am on Thursday June 21, 2018, at the Rotunda Conference Hall of the Ministry of Foreign Affairs, Abuja.

The President remains determined to continue to work with the National Assembly towards improving the budgeting process and restoring Nigeria to the January-December fiscal cycle.