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‘Pass PIB bill for development of Niger Delta region with any percentage’, Akpabio tells NASS
Minister, Niger Delta Affairs Ministry, Sen. Godswill Akpabio, on Monday appealed to the National Assembly to expedite action on the passage of the PIB Act, and not allow the issue of percentage to be allotted to the oil producing communities to delay its passage, so as to make life meaningful for the people of the Niger Delta region.
Akpabio, made the appeal while speaking with newsmen at the Town Hall meeting on the Destruction of Oil Pipelines and Gas infrastructure, organized by the Ministry of Information and Culture at the NAF Conference Center, Abuja.
A release by his Chief Press Secretary, Jackson Udom, quoted the Minister as saying, “Let me appeal to my former colleagues in the National Assembly to pass the PIB Bill into law so that the people of the region will begin to have a new lease of life. Let them not allow the argument on the percentage delay the passage of the bill. Whatever you agree on, we will accept. At least, let us start from some where.
“It is not the percentage that matters. The bill has been there for over 20 years. I am speaking for the Niger Delta people. Let them not use the issue of percentage to delay the passage. No matter the percentage approved, we will accept it, whether 3, 4 or even 5 percent. If they use it well, we can go back to demand for an increase.
” I want the people of the Niger Delta region to begin to see what has not happened before in their life. These are people whose ecosystem and means of livelihood have been destroyed. The people have suffered enough. If they pass the bill, it will change the economic life of the people, their life style will also change, their living standard will also improve. If the bill is passed this week, I will be very happy”, the Minister said.
The former Senate Minority leader also added, ” I want to see most Niger Delta youths, women, the elders and children, being more educated about the environment and being more concerned about the environment and refraining from acts of vandalism. Even if they are lured, they will say no, I don’t want to destroy my land because 25 years after, I will be the one suffering from the impact.
” Oil pollution affects the economy. Most of the aquatic life is gone. We have the best prawn in west Africa, which is a major source of income, but pollution of the waters is not allowing that kind of business to thrive. As a result of this, dead and poisoned fishes are allover the place, which has led to cancer and untimely death”, he stressed.
Renowned Ibadan-born businessman and prominent political figure, Chief Yekini Adeojo, has passed away.
Chief Adeojo, a respected elder statesman and a chieftain of the Peoples Democratic Party (PDP), died in the early hours of Friday.
Although the precise circumstances surrounding his death remain unclear as of the time of filing this report, sources indicate that he will be laid to rest later today in accordance with Islamic rites.
Adeojo was a founding member of the PDP and served as the party’s Deputy National Chairman (South). Over the years, he was a key player in Oyo State’s political landscape and had vied for the governorship seat on multiple occasions.
Beyond his political exploits, Chief Adeojo was also a respected voice within the community, known for his philanthropic gestures and deep-rooted influence in both business and religious circles.
He held the traditional title of Seriki Musulumi of Yorubaland, a position that amplified his standing among the Muslim faithful.
He is survived by children, among whom is Hon. Sheriff Adeojo, the current Chairman of Ido Local Government Area in Oyo State.
The House of Representative member representing Ibarapa East/Ido Federal Constituency, Oyo State, Engr. Aderemi Oseni has felicitated with Barrister Akeem Agbaje, a chieftain of the All Progressives Congress (APC), on his birthday.
Oseni, who also chairs the House Committee on Federal Roads Maintenance Agency (FERMA), in a statement by his media aide, Idowu Ayodele, described the celebrant as a man of integrity and an accomplished legal practitioner whose contributions to politics and governance in the state remain exemplary.
He commended the APC stalwart for his unwavering commitment to democratic ideals and party development, adding that his leadership qualities and dedication to service had earned him respect across political and professional circles.
“Barrister Akeem Agbaje is a brother and friend whose wisdom, integrity, and passion for public service stand out. He has remained one of the pillars of support for our great party and has consistently championed policies that uplift the people,” Oseni said.
The lawmaker lauded Agbaje’s efforts in mentoring young professionals and supporting initiatives that promote education and youth development, noting that his impact extended beyond politics.
Oseni prayed for his continued success, good health, and prosperity.
Nigeria’s Net Foreign Exchange Reserve (NFER) reached $23.11 billion by the end of 2024, marking the highest level in over three years. This significant rise reflects improved external liquidity, reduced short-term obligations, and renewed investor confidence.
According to a statement from the Central Bank of Nigeria (CBN), the latest figure represents a remarkable increase from $3.99 billion at the close of 2023, $8.19 billion in 2022, and $14.59 billion in 2021.
NFER provides a more accurate measure of the country’s foreign exchange buffers by adjusting gross reserves to account for near-term liabilities such as FX swaps and forward contracts. Alongside this, Nigeria’s gross external reserves also grew to $40.19 billion from $33.22 billion at the end of 2023.
The CBN attributed this reserve expansion to strategic measures aimed at reducing short-term foreign exchange liabilities, notably swaps and forward obligations. The central bank also credited the improvement to policy actions designed to rebuild confidence in the FX market and enhance reserve buffers, bolstered by increased foreign exchange inflows from non-oil sources.
“This improvement in our net reserves is not accidental; it is the outcome of deliberate policy choices aimed at rebuilding confidence, reducing vulnerabilities, and laying the foundation for long-term stability,” stated CBN Governor Olayemi Cardoso. “We remain focused on sustaining this progress through transparency, discipline, and market-driven reforms.”
Despite seasonal and transitional adjustments in the first quarter of 2025, including significant interest payments on foreign-denominated debt, the CBN noted that the underlying fundamentals remain strong. The bank expects reserves to continue strengthening over the second quarter of the year.
Looking ahead, the CBN anticipates a steady increase in reserves, supported by improved oil production levels and a more favourable export environment. These factors are expected to enhance non-oil FX earnings and diversify external inflows.
“The CBN remains committed to prudent reserve management, transparent reporting, and macroeconomic policies that support a stable exchange rate, attract investment, and build long-term resilience,” the statement concluded.
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