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We’ll extract value from mineral resources, agriculture to develop Oyo – Makinde assures
Oyo state governor, Mr. Seyi Makinde has declared that his administration’s determination to extract value from mineral resources abundant in the Oke Ogun area of the state, and the competitive advantage of the area in terms of agriculture to boost agribusiness and the state’s Internally Generated Revenue, IGR, remains on course.
Governor Makinde made this disclosure during a visit to the palace of the Okere of Saki, Oba Khalid Olabisi, where he met with traditional rulers from Oke Ogun Zone 1, assuring them that his government will continue to do everything possible to develop the state and uplift its people.
According to a statement signed by the Chief Press Secretary to the governor, Mr. Taiwo Adisa, Governor Makinde was in Oke Ogun to inspect ongoing works at the headquarters of the Oyo State Agribusiness Development Agency (OYSADA), Saki.
The governor who maintained that Oke Ogun is a treasure base for Oyo State, and that his government will treat it as such, highlighted some of the on-going projects aimed at developing the zone in line with the economic expansion agenda of the administration.
According to the governor, the on-going 68-kilometre Moniya-Iseyin Road, the on-going OYSADA Complex construction, the on-going Saki Township Road construction, as well as the location of the 72 Mobile Police Squadron base in Ago-Are, were some of the efforts to develop the zone as a treasure base of the state.
Commenting on the on-going OYSADA Complex, the governor said: “I have inspected the on-going project of OYSADA Headquarters that we brought here. Though they have made some progress, I am still not satisfied. They promised that it will be completed by 10th of December but they said there were challenges with evaluation and release of funds. Now, that is being resolved and I look forward to coming back here by the end of March. I will spend about 10 days; with the whole of government functionaries that will be here with me.”
The governor added that he has already signed an agreement that all the mineral resources in Oke Ogun should be mapped so that the state will be able to extract value for itself and the Oke Ogun region.
The governor equally called on the traditional rulers to continue to support his government, stating that the progress being experienced by the state is an indication of the fact that the traditional rulers and other leaders were doing what they are supposed to do.
He said: “Apart from the fact that I came to greet Kabiyesi and other paramount chiefs that are here seated, I pray that we shall live to see the coming year and shall be a fulfilling one for us.
“I really want to appreciate you for the support you are giving to the current administration in Oyo State. It is your government too. If a state is progressing, it means the rulers at the helm of affairs are practically doing what they are supposed to do. And 2020 in particular has been a very challenging one. We can see that all of us are wearing face masks and observing other guidelines because we are faced with pandemic and economic meltdown. So, it was really tasking. Of course, in our locality here, the issue of banditry is also another issue.
“For instance, Saki shares an international border and it is more of an international issue because we have bandits all the way from Mali that are trying to cross. Once they gain entrance into anywhere they can operate, they will stay there.
“When we inaugurated Amotekun, you gave us your support. When some bandits went to the bush at Kishi, we were able to flush them out with all the efforts of all of us here.
“So, we want to use this opportunity to say thank you to you all.”
Remarking, the Okere of Saki, appreciated the governor and his entourage, stating that the Makinde administration has done many things to make people happy, especially in Saki.
He said: “On Saki Township Road, we are gradually seeing light at the end of the tunnel. The speed at which the project is being done is commendable. Really speaking, in the Oke Ogun axis of the state, we have so many things to thank Governor Makinde for.
“Many of our people also asked us to thank you concerning the way you handled the LAUTECH divorce issue successfully. We have also heard that you are planning to make it a multi-campus institution. We want to beg you that we need two campuses here in Oke Ogun.
“If you have observed, our axis is the only zone that is backward in Oyo State, which is not supposed to be so. I am saying this because we are blessed with many mineral resources. We just want someone that can support us a little bit. And who will? It is actually the government.”
The meeting had in attendance the Speaker of the House of Assembly, Hon. Adebo Ogundoyin; the chairman of the Oyo State Advisory Council, Senator Hosea Agboola; Deputy Chief of Staff, Hon. Abdulmojeed Mogbonjubola; Commissioner for Establishment and Training, Alhaji Siju Lawal.
Others were the Director-General of OYSADA, Dr. Debo Akande; the Director-General, Due Process, Ms. Tara Adefope; Senior Special Assistant to the Governor on Sustainable Development Goals, Hon. Kunle Yusuff; full-time Commissioner in the Local Government Service Commission, Hon. Oyesina Oyedeji, among others.
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.
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.
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.”
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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