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Makinde inaugurates State Assembly Service Commission, Government Liaison Officers

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Oyo State Governor, Engineer Seyi Makinde, on Tuesday, inaugurated the members of the House of Assembly Service Commission and the Government Liaison Officers appointed to oversee the 14 federal constituencies in the State.

The Governor also stated that his administration remained determined to empower the people and deliver dividends of democracy to the people of the State.

A statement signed by the Chief Press Secretary to Governor Makinde, Mr. Taiwo Adisa, indicated that the Governor stated these at the Executive Chamber of the Governor’s Office, Secretariat, Agodi, Ibadan, while inaugurating the two bodies.

During the inauguration of the House of Assembly Service Commission headed by the immediate past Deputy Speaker of the Oyo State House of Assembly, Honourable Abdulwasi Musah, the Governor charged the Commission to remain independent and to guide the House of Assembly on that path.

He said: “I will like to congratulate the members of the House of Assembly Service Commission on your appointment, which was based on merit. Honourable Abdulwasi Musah, you have been the Deputy Speaker before and I believe the experience you have gathered in such an exalted position will be utilized in this present assignment. And I also need to say that there is a clear distinction between politics and governance.

“Governance is looking after the wider interest of the entire state while politics deals with one’s political leaning but this is governance and we want you to have the wider interest of the state at heart in discharging your duties.

“I also need to add that there is a clear separation of powers between the Executive, Legislature and the Judiciary. So, we don’t want a rubber-stamp legislature.

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“We want you to assist us to achieve that objective where debates are very robust. Sometimes, I may even sign things that will come to the House of Assembly, which are not totally my idea because I and other executive members take decisions based on consensus. So, my personal preference does not fly sometimes when we hold exco meetings.”

Similarly, Governor Makinde, while inaugurating the Governorship Liaison Officers, said they were put in place as his eyes and ears across the State in order to assist him in the onerous task of empowering the people of the State.

He charged them to ensure effective feedbacks to the Government in order for it to be able to deliver on its promises to deliver the dividends of democracy to the people at the grassroots.

The Governor said: “During the campaign, I promised the people that nobody will reap from where he has not sown and I won’t give what belongs to someone who has worked to another person who has not done anything. So, I am counting on you to assist me and this administration to come true on that promise. You will all be the unifier in your various federal constituencies.

“This is fulfilling for me because I now have eyes and ears in all the federal constituencies in Oyo State. The assignment for you is very simple and straight forward. We have to empower our people. Though we do have party machinery in all the federal constituencies but, sometimes, just like we experienced choosing interim officers for the local government, the party apparatus in most places is polarised. So, you are the people I am relying on to unify the party apparatus.

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“It does not matter which faction you belong to or where you are all coming from. Before the 2019 election, late 2018 to be precise, all of us came from different places. We met some inside PDP and some came from the Labour Party. Some came from SDP too but we thank God that our journey from then till now has been fruitful. So, you must all have it at the back of your mind that your assignment is solely based on the empowerment of the good people of Oyo State.

“Also, while undertaking your duties, you must know that feedback to the government is essential. My appeal to you is, use this position to take dividends of democracy to the people at the grassroots.”

In their separate responses, the chairman of the House of Assembly Commission, Dr. Abdulwasi Musah and the chairman of the Liaison Officers, Chief Jacob Adetoro, both appreciated the Governor for the confidence reposed in the members of their separate bodies, promising to discharge the responsibilities in the interest of the State.

Wasi said: “As a former Deputy Speaker and a Ph.D. holder in Law, I will put my experience as well as my academic achievement in bear towards working in line with what the Governor said.

“We will ensure that the autonomy of the parliament is ensured in all that we do, even though that will not be translated into making the parliament to stand in friction with the Executive or the Judicial arm of Government. So, that is our mandate and we promise the people of Oyo State that we will live up to that promise.”

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In the same vein, Adetoro said: “We are grateful to the Governor of Oyo State for counting us worthy of these positions, and I want to pledge that we shall not disappoint you. We see ourselves now as the bridge that links the party to the government and we shall do our best to promote that course with fairness and all the rest of it.

“Since we have been given this assignment now, I know that every one of us will sit up and perform our responsibilities.”

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Labour union protests Heritage Bank’s dismissal of 1,000 workers

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The headquarters of Heritage Bank at Victoria Island, Lagos, was besieged on Thursday by members of the labour union, protesting the recent dismissal of 1,000 support workers.

The National President of the National Union of Banks, Insurance and Financial Institutions Employees, Comrade Anthony Abakpa, led the demonstration, condemning the bank’s management for what he deemed a lack of adherence to due process in the termination of employment contracts.

Speaking during the protest, Comrade Abakpa asserted that the leadership of Heritage Bank failed to follow established protocols before executing the mass layoffs.

He emphasised the union’s commitment to pursuing justice for the affected workers, vowing to escalate their demands until the bank’s management rectifies the situation.

“We will intensify our demands for justice,” declared Comrade Abakpa, urging the bank’s management to take corrective action to address the grievances of the dismissed workers.

 

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Nigeria not using foreign reserves to defend naira, says CBN governor

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CBN governor

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, clarified that Nigeria is not utilising its foreign reserves to bolster the naira, despite recent fluctuations in reserve levels.

Speaking from Washington DC, where he is attending the International Monetary Fund-World Bank Spring Meetings, Cardoso highlighted the influx of $600 million into Nigeria’s reserves account within the past two days.

While the naira has experienced a notable appreciation against the dollar in recent weeks, climbing over 40% from approximately N1,900/$ to about N1,000/$1, Nigeria’s foreign reserves have been dwindling. As of April 15, reserves dropped to approximately $32.29 billion, marking the lowest level in over six years.

Cardoso emphasised that the shifts in reserves are typical for any country, where various financial obligations, such as debt repayments, necessitate withdrawals.

He stated, “What you’ve seen with respect to the shift in our reserves is normal in any country’s reserves where, for example, debts are due and certain payments need to be made. They are made because that is also part of keeping your credibility.”

Continuing, Cardoso underscored the dynamic nature of the market, advocating for a system driven by willing buyers, willing sellers, and price discovery.

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He emphasised, “The shift in our reserves has really little or nothing to do with defending the naira, and that is certainly not our objective.”

 

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Dangote Slashes Diesel Price Amidst Economic Optimism

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Dangote Petroleum Refinery has made headlines by announcing a further reduction in the price of diesel, dropping it from ₦1200 to ₦1000 naira per litre.

The refinery’s decision comes on the heels of its recent supply at a significantly reduced price of ₦1200 per litre, which was introduced three weeks ago, signifying a remarkable 30 per cent decrease from the previous market price of approximately ₦1600 per litre.

This substantial reduction in diesel prices at Dangote Petroleum Refinery is expected to reiterate positively throughout various sectors of the economy, potentially serving as a catalyst in alleviating the persistently high inflation rate in the country.

In a statement last week, Aliko Dangote, Africa’s wealthiest individual and the owner of the refinery, expressed his optimism regarding the potential impact of the price reduction on inflation in Nigeria.

“I believe that we are on the right track. I believe Nigerians have been patient, and I also believe that a lot of goodies will now come through. There’s quite a lot of improvement because if you look at it, one of the major issues that we’ve had was the naira devaluation that has gone very aggressively up to about ₦1900,” he remarked.

As anticipation builds around the implications of this move by Dangote Petroleum Refinery, stakeholders and consumers alike remain hopeful for the positive effects it could bring to the Nigerian economy in the coming months.

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