Christmas: Transcorp, Dangote, UBA top best performing stock

On Christmas day, investors in the Nigerian Stock Exchange have navigated an economic landscape rife with challenges and opportunities to gain on the stocks they acquired.

These top ten best-performing stocks, characterized by stability and excluding the usual volatility associated with penny stocks, have acted as guiding stars, leading investors to lucrative havens.

Presented by Nairametrics, these companies stand as the market’s shining beacons as we conclude the year, each reflecting the radiance of wise investments and prosperity achieved in 2023.

10. Ecobank Transnational Incorporated (ETI)
– Sector: Banking and Financial Services
– Year-to-Date % Change: 114.2%
– Description: As a pan-African banking conglomerate, ETI provides diverse banking products and services across multiple African countries.

9. Fidelity Bank Plc (FIDELITYBK)
– Sector: Banking and Financial Services
– Year-to-Date % Change: 117.2%
– Description: Fidelity Bank offers commercial and retail banking services, including electronic banking, contributing to its robust year-to-date growth.

8. Access Holdings Plc (ACCESSCORP)
– Sector: Banking and Financial Services
– Year-to-Date % Change: 161.2%
– Description: Access Holdings is renowned for extensive banking operations, providing a range of services from personal banking to corporate finance, maintaining strong growth throughout the year.

7. Geregu Power Plc (GEREGU)
– Sector: Energy and Power
– Year-to-Date % Change: 167.8%
– Description: Specializing in energy generation and distribution, Geregu Power has upheld its market position by delivering reliable power solutions in Nigeria.

6. Sterling Financial Holdings Company Plc (STERLINGNG)
– Sector: Financial Services
– Year-to-Date % Change: 198.6%
– Description: This financial holding company is making strides with investments across various sectors, contributing to its impressive year-to-date growth.

5. BUA Foods Plc (BUAFOODS)
– Sector: Agribusiness and Food Production
– Year-to-Date % Change: 206.0%
– Description: BUA Foods is a major player in the food production industry, focusing on the manufacturing of sugar, flour, and pasta, fueling its growth this year.

4. United Bank for Africa Plc (UBA)
– Sector: Banking and Financial Services
– Year-to-Date % Change: 217.8%
– Description: UBA has a strong presence across Africa, offering a full range of banking services appealing to both individual and corporate clients, contributing to its substantial growth.

3. Dangote Sugar Refinery Plc (DANGSUGAR)
– Sector: Food and Beverages
– Year-to-Date % Change: 258.3%
– Description: As part of the Dangote Group, Dangote Sugar Refinery is a leading sugar manufacturer in Africa, making a significant contribution to the Nigerian economy.

2. Transnational Corporation Plc (TRANSCORP)
– Sector: Conglomerate
– Year-to-Date % Change: 515.9%
– Description: TRANSCORP operates in various sectors, including power, hospitality, and agriculture, experiencing substantial growth, particularly in its energy investments.

1. Transcorp Hotels Plc (TRANSCOHOT)
– Sector: Hospitality and Tourism
– Year-to-Date % Change: 650.4%
– Description: As part of the Transnational Corporation, Transcorp Hotels leads the hospitality sector in Nigeria, offering luxury accommodation and conference facilities, showcasing unparalleled growth throughout the year.

This list concentrates on NSE 30 stocks, excluding penny stocks that might have exhibited superior performance.

(AMBUSINESS)

Join our new WhatsApp community! Click this link to receive your daily dose of NEWS FLASH content. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don’t like our community, you can check out any time you like.

Pastor Adeboye didn’t sit on my seat, Olugbon explains

The Olugbon of Orile-Igbon in Oyo State, Oba Francis Alao, on Monday, explained why the General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, sat on one of his palace chairs at a recent occasion in his domain.

The PUNCH reports that controversy had trailed a viral photograph on social media capturing Adeboye sitting on the royal seat.

But Olugbon, who is also the Deputy Chairman, Oyo State Council of Obas and Chiefs, in a statement he personally signed, said, “My attention has been drawn to different kinds of reactions to a photo circulating in the social media where the G.O. of RCCG, Pastor Adeboye, sat on one of the palace chairs.

“Let me set the record straight by reminding all that Pastor Adeboye was in Orile-Igbon for an evangelism programme, which held on the playground of Olugbon High School. His chopper landed in an open space within the palace from where I received him to my living room. We spent some time talking about Nigeria and Orile-Igbon before we moved to the venue of the programme where thousands of people already gathered.

“I joined the revered priest to the venue as a mark of support for the programme given that his coming to the ancient town will be a blessing to us. And he did pray for both the town and everyone who attended.

“As a mark of honour, I offered one of the ceremonial royal chairs that are usually reserved for top dignitaries to Pastor Adeboye to be used at the programme. It should be noted that the chair is not the particular one that is reserved for the Olugbon which cannot be shared with anyone because of its spiritual and historical significance.

“The royal chairs are provided in palaces to honour high-ranking dignitaries, not to desecrate the throne. I, therefore, seek the understanding of all those expressing concern about the issue. There is a traditional royal chair that is meant for only the Kabiyesi, and there are traditional ceremonial chairs for very important persons. The throne of the ancient town of Orile-Igbon remains sacrosanct.”

The monarch, also in the state, felicitated Christians on Christmas, noting that it was  “another occasion of celebrating the birth of our Lord Jesus Christ, which is a worldwide celebration.”

“I urge all followers of Christ in Nigeria to use this period to reflect on the multiple blessings of God, particularly the grace to be alive to witness another Christmas.

“Aside from eating and drinking to celebrate his birth, Christmas is a time to make a new commitment to ensuring that our lives mirror Christ in every way. We should make a commitment to a life of righteousness, honesty and showing love to fellow men regardless of their faith and cultural beliefs,” Olugbon said.

(Punch)

Join our new WhatsApp community! Click this link to receive your daily dose of NEWS FLASH content. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don’t like our community, you can check out any time you like.

Over 2,700 abducted in six months, military rescued 721 – Report

No fewer than 4,258 incidents of insecurity have been witnessed across 573 local government areas of the country between May 31 and December 24, 2023.

From the incidents caused by non-state actors across the LGAs,  at least 5,691 persons were killed,  while 2,719 were kidnapped within the period under review.  However, 721 of the kidnap victims were rescued by the military.

Similarly,  no fewer than 1,902 citizens sustained varying degrees of injury from violent attacks by non-state actors.

The figure was contained in data by Beacon Consulting,  an indigenous security firm that tracks insecurity in the county.

A monthly breakdown showed that on May 31, at least 13 people were killed, four were kidnapped and six were injured.

In June,  854 were killed;  239 were kidnapped and 158 were injured.  Similarly, in July, non-state actors killed 597 people,  kidnapped 330, and injured 140.

Also in August, 615 were killed, 369 were kidnapped and 215 persons were injured.

In September,  no fewer than 594 persons were killed,  348 abducted and 217 were injured.

No fewer than 1,164 fatalities were recorded in October, 518 citizens were kidnapped and 584 sustained varying degrees of injury in the month.

In November,  1,309 lives were lost to various attacks by non-state actors,  464 persons were kidnapped and 334 were injured.

So far in December,  at least 545 persons have been killed,  434 kidnapped and 248 citizens have been injured.

Meanwhile,  the military, in various operations in the country, rescued a total of 1,987 kidnapped citizens across the country between June and December 24, 2023.

The figures were from media reports during the period under review.

Between June and August, about 721 kidnapped victims were rescued by the military.

From September to December 24, 228;127;412, and 499 kidnapped citizens were freed from captivity, respectively.

Commenting,  a security expert,  Jackson Ojo, called for an improvement in the economy to put an end to the rising insecurity in the country.

He said,  “To be sincere, the issue of insecurity was inherited by the current administration.  And the hardship in the country has fuelled it.  These criminals see it as a way out of poverty.  The economy must be improved for insecurity to be reduced in the country.  Also,  there is a need for a political will to end criminality in the country.  Without the will, our security agencies cannot perform effectively. “

(Punch)

Join our new WhatsApp community! Click this link to receive your daily dose of NEWS FLASH content. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don’t like our community, you can check out any time you like.

Rivers crisis: PDP kicks as Fubara defends Tinubu over peace pact

Rivers State Governor, Siminalayi Fubara, on Monday defended the peace deal initiated by President Bola Tinubu between him and his predecessor, Nyesom Wike, over the crisis in the state.

Fubara, in a broadcast on Monday, said the resolution brokered by the President to resolve the crisis was not a death sentence, adding that it would ensure lasting peace in the state.

He expressed his commitment to the implementation of the peace agreement in such a way that would restore political stability in the state.

But the Peoples Democratic Party National Working Committee in its reaction warned the governor against implementing the agreement he signed without the input of the party (PDP) on whose platform he was elected.

The PUNCH reports that the crisis rocking the state took a new turn on December 11, 2023, when 27 members of the state House of Assembly defected from the PDP to the All Progressives Congress.

At the instance of Tinubu, Fubara on December 18 signed an eight-point peace agreement with Wike, who is the Federal Capital Territory, in a move to end the political crisis in the state.

 However, the PDP officially joined a suit seeking to declare vacant the seats of the lawmakers who defected from the party to the APC.

The party vowed to vigorously pursue the case despite Tinubu’s peace meeting with Rivers State political stakeholders.

Peace deal

But speaking on the peace pact during his Christmas Day broadcast, the governor pledged to implement the agreement without compromising the interest of the people of the state.

Fubara said, “By this singular effort, our dear President has demonstrated that he loves Rivers State and cherishes nothing short of a reign of perfect peace in our State with his presidential peace proclamation on the 18th of December 2023. Mr President’s Peace Proclamation has naturally elicited mixed reactions from our people and across the country.

 “As a principal participant in the entire saga, I have taken some time to study the terms therein and have come to the conclusion that the peace pact is not as bad as it may be portrayed by those genuinely opposed to it.

“It is certainly not a death sentence. I reaffirm my acceptance and my commitment to implementing both the letter and spirit of the declaration in such a way and manner that will restore political stability to our dear state without compromising the collective interest of our people and our cherished and shared democratic values.”

 The governor also confirmed that he had released the allowances of the lawmakers and that the defected lawmakers had withdrawn their ‘purported’ impeachment.

He stated, “Both parties have demonstrated some goodwill in the implementation process with the withdrawal of the purported impeachment notice on their part and the release of hitherto withheld allowances of the members of the State House of Assembly by the Government.

 “I have said before there is no price too much to pay for peace and with the realization that the worst peace is better than the best war.

 “We will strive to make peace with all segments and interest groups without surrendering our freedom nor jeopardizing the interest and well-being of the good people of Rivers State who graciously entrusted us with their cherished mandate.”

 He added he would toe a path that would best advance and protect the collective interest of the state and its people.

The governor said, “Let me, therefore, crave your kind understanding and call on you to have confidence in the process we are embarking upon to find lasting peace in our state as we are confident that we can achieve stability and progress without endangering the collective interest of our people.”

He commended President Tinubu for his intervention that has brought some lasting peace to the political crisis in the state, stating that the effort showed that Tinubu loves Rivers State.

He pledged that 2024 would witness a speedy transformation of the state with the completion of several projects and programmes, such as the sections of the Port Harcourt Ring Road, the Andoni section of the Unity Road, the Ahoada-Omoku Road, the Emohua-Degema Road and the commencement of many other laudable projects, both in infrastructure and human capital development, as outlined in our 2024 budget.

PDP fumes

But the PDP NWC in its reaction faulted Fubara’s plan to implement Tinubu’s peace deal.

The party Deputy National Youth Leader, Timothy Osadolor, in an interview with The PUNCH, said the peace pact could not be implemented.

 He said “ First and foremost the governor is an adult and he was the Rivers State governorship candidate of the PDP in the last election, now the governor of the state. But the issues at stake that President Bola Tinubu bothered himself with are bigger than him. They are also bigger than the governor because they are constitutional issues.

  “ The question of the seats of the defected lawmakers being vacant is a clear constitutional issue, not at the wishes and discretion of President Tinubu or any other person. It is a clear constitutional matter.

 “ Also, the PDP constitutionally owns the votes, so I don’t see how Governor Fubara will tell the PDP that because he met with the President in Aso Rock, the PDP should not take charge of its votes. As we speak the PDP is in court, the votes belong to the PDP, not to Fubara or the Villa.

 “The one within the governor’s purview is to pay salaries and allowances of the lawmakers to the date their seats become vacant. I am sure the governor knows his limit.”

On his part, a former National Secretary of the PDP, Senator Ibrahim Tsauri cautioned that the governor would be committing a political blunder to implement a peace pact against his party’s stand.

 The member of the PDP National Executive Council noted said the implementation would be morally right, but politically incorrect.

 Tsauri stated “As a complete gentleman, he went there and signed the agreement, even though without the consent of the party. So implementation will be made by him and not by the party. But certainly, it won’t be in the interest of the party.

 “ The PDP will not allow itself to be dragged into that trap, but he failed to consult the party. If he implements it, he is in trouble, if he doesn’t, is in trouble. Implementation of the agreement is like jumping into awaiting problems. And if he fails to implement it, he is going to enter the Federal government’s trouble. So, either way, is trouble for him.”

Also, a former PDP National Chairman, Uche Secondus, in a statement on Monday by his Media Adviser, Ike Abonyi, in Abuja, on Sunday, urged the political class to be wary of actions that might constitute a threat to our nascent democracy and national security.

Abonyi quoted his principal as saying, “With particular reference to the crisis in Rivers State, the former PDP boss contended that the intervention of President Bola Tinubu must be by the spirit and letter of our constitution for it to be implementable.

 “There are creative ways a political conflict can be resolved if and when the President acts like a statesman and the President of all Nigerians.

“Mr President would have violated this sacred role if he acted in such a way and manner that gave an unconstitutional advantage to his political party, the All Progressives Congress, APC, and an individual political godfather.

“This is the scenario the unenforceable agreement reached at the instance of Mr President purports to foster.”

He urged well-meaning Nigerians to call on the President and other stakeholders to act in the interest of peace in Rivers State and “ensure genuine, unbiased, generally acceptable, and enforceable reconciliation of the crisis.”

(Punch)

Join our new WhatsApp community! Click this link to receive your daily dose of NEWS FLASH content. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don’t like our community, you can check out any time you like.

Newspaper cover price to increase January 2 – NPAN

The Newspapers Proprietors’ Association of Nigeria has said there will be an increase in the cover prices of newspaper titles effective from January 2, 2024.

In a statement on Sunday by its Executive Secretary, Feyi Smith, NPAN said it “took this difficult decision after a careful review of the current economic situation and our members’ production costs.”

It explained that, “In the last few years, inflation and the devaluation of the naira have had very serious negative effects on our members’ production costs and eaten deeply into their profit margins.

“Nevertheless, our members retained the current cover prices for over four years, while inflation more than doubled within the same period.

“We acknowledge that the negative effects of the tough economic climate are felt by our readers. It is for this reason that publishers have borne the brunt of high production costs for the last four years without adjusting cover prices.

“We hope that this price increase would meet with the understanding of our readers even as we continue to do our best to take advantage of technology and better collaboration amongst publishers to improve the quality of our products.”

(Punch)

Join our new WhatsApp community! Click this link to receive your daily dose of NEWS FLASH content. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don’t like our community, you can check out any time you like.

I will assess Tinubu’s govt after 12 months – Wole Soyinka

NOBEL Laureate and academic, Prof. Wole Soyinka, on Sunday, said he would reserve all his observations about President Bola Tinubu’s administration until one year into his tenure, in May 2024.

Soyinka described this as a personal policy of his, saying this one-year delay gives the President enough time to “make up” for lost grounds.

Soyinka said this when he paid a courtesy visit to the President who is holidaying in Lagos.

“Well, you know, something you may have noticed about me is that most heads of state, when they take office, I always leave them alone for about the first year…because they need time.

“I know when they come in, they don’t start from ground zero. They often start even lower than ground zero and they have to make up.

“So, I’m adopting the same principle this time. When you see me next year, ask the same question again and listen to my answer,” he explained.

Soyinka, who called Sunday’s appearance an “embarrassing visit.” said he approached the President with a seven-point agenda which he declined to reveal.

“I came here with a seven-point agenda. And we had a very thorough discussion on those items.

“Actually, it’s an embarrassing visit because when I visited him the last time, it was to try and persuade him not to run for office. I told Atiku and himself to please leave the ground so young people could run. That’s the last time we met about five years ago.

“So I came to see how he was doing after ignoring my advice. I came to see how both he and his wife were weathering Nigeria, and to wish them a Happy Christmas,” he explained.

Meanwhile, the Abia State Governor, Dr Alex Otti, who also visited Tinubu in Lagos, urged Nigerians to remain patient saying the economic reforms would yield prosperity if sustained.

Otti said, “One thing is that he has a very courageous, unifying policy; the exchange rate and then removing subsidy, which actually had become a scam and costing us a lot of money.

“Those policies are good but then they come with the negative sides. They come with challenges for an economy where over 60 percent of the population is living below the poverty line.

“So, it’s not going to be easy, immediately. But I believe that if we are patient and if we go through the policies without compromising, over time, things will turn around.”

(Punch)

Join our new WhatsApp community! Click this link to receive your daily dose of NEWS FLASH content. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don’t like our community, you can check out any time you like.

SERAP sues NNPCL for withholding oil revenue details

The Socio-Economic Rights and Accountability Project has filed a lawsuit against the Nigerian National Petroleum Company Limited over what it described as “failure to disclose details of Nigeria’s daily oil production, exportation and the total amounts of revenues generated from oil since the removal of subsidy on petrol in May 2023.”

The suit followed an allegation made by a former governor of the Central Bank of Nigeria, Sanusi Lamido, that the NNPCL failed to remit enough foreign exchange into the treasury despite the removal of fuel subsidy.

SERAP, in the suit number FHC/ABJ/CS/1719/2023 filed last Friday at the Federal High Court in Abuja, seeks “an order of mandamus to direct and compel the NNPC to disclose details of barrels of oil Nigeria produces and exports daily and the total amounts of revenues generated since the removal of subsidy on petrol.”

The group also seeks “an order of mandamus to compel the NNPC to disclose how much of the revenues generated from the production and exportation of oil have been remitted to the public treasury since the removal of subsidy on petrol” and “an order of mandamus to direct and compel the NNPC to disclose details of payment of 11 Trillion Naira made as subsidy payments from 1999 to May 2023, including a detailed breakdown of the payments made.”

In the suit, SERAP is arguing that: “There is a legitimate public interest in disclosing the information sought. The NNPC has a legal responsibility to disclose the details of Nigeria’s daily oil production, exportation and the revenues generated and remitted.”

The group argued further that“Nigerians have the right to know the amounts of barrels of oil the country produces and exports daily, the revenues generated and remitted to the public treasury.” Compelling the NNPC to disclose these details would promote transparency and accountability in the oil sector.”

It also stressed that “The failure by the NNPC to disclose the information sought is a grave violation of the provisions of the Nigerian Constitution 1999 [as amended], the Freedom of Information Act, and the country’s obligations under the African Charter on Human and Peoples’ Rights.”

(Punch)

Join our new WhatsApp community! Click this link to receive your daily dose of NEWS FLASH content. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don’t like our community, you can check out any time you like.

CBN investigator’s report not true, misleading, says Godwin Emefiele

Embattled former Governor of the Central Bank of Nigeria has denied a report by Central Bank of Nigeria’s private investigator, Jim Obazee, that he lodged £543, 482,213 in fixed deposits in UK banks alone without authorisation among other allegations.

Emefiele made this known Sunday night in a signed statement entitled, “Re: Emefiele, others stole billions, illegally kept Nigeria’s funds in foreign banks” which was made available to our correspondent.

The PUNCH had exclusively reported that Obazee revealed that the former CBN governor illegally lodged billions of naira in foreign currencies in no fewer than 593 bank accounts in the United States, United Kingdom, and China without the approval of the apex bank’s board of directors and the CBN Investment Committee.

However, Emefiele on Sunday said the report was misleading and a calculated attempt to disparage his person, injure his character and serve the selfish interest of the private investigator.

He said, “I have gone through the publications, and I say boldly that the contents of the said publications are false, misleading and calculated to disparage my person, injure my character and serve the selfish interest of the private investigator.

“Because of my present situation, I have been advised by my lawyers not to say anything in respect of the matters which have been submitted to the court for adjudication. However, I need to address some of the issues raised in the publication which are barefaced lies told by the investigator in order to achieve his satanic agenda

“First, it was reported that contrary to the provision of the CBN Act 2007, there was no presidential approval for the Naira redesign. I wish to state unequivocally that there was indeed a presidential approval, and the said approval was handed over to the same Jim Obazee during the process of his investigation in the presence of senior CBN officials and his own investigative team.

“Moreover, the former President Muhammadu Buhari GCFR has stated on a number of occasions that he authorised and approved the Naira redesign. I am therefore at a loss as to why Mr. Jim Obazee will mislead Nigerians that there was no presidential approval.

“The report also claimed that the sum of 6.23 million dollars was withdrawn from the CBN vault based on a false presidential directive bearing the signature of the former president Muhammadu Buhari GCFR and that of the former secretary to the government of the federation (SGF), Mr. Boss Mustapha.

“About two weeks ago, Jim Obazee in the company of a certain Deputy Commissioner of Police from Force CID came to Kuje to ask me questions in respect of the said document in the presence of my lawyers. I stated verbally and in writing that I have no knowledge of such a directive from the former president and the former SGF. In fact, I told them that that was the first time I would be seeing the documents. “On this, I challenge Jim Obazee to publish the said documents and also the statements that I made to them.

“The final issue that I would like to respond to is the issue of the 593 accounts which were purportedly opened in different parts of the world. I state categorically that I am not involved in the opening of these accounts and I do not have knowledge of their openings. The fixed deposits in those foreign accounts are definitely outside my knowledge.

“However, let me state clearly, that the relevant departments of the CBN have the authority to carry out such activities in line with their lawful mandate within the CBN.

“I, therefore, join well-meaning Nigerians who have spoken on this matter and have demanded a thorough and transparent investigation of all these alleged frauds.

“Meanwhile, I have instructed my lawyers to immediately commence the legal process to clear my name from the defamatory statements contained in the report and by extension the publications.”

(Punch)

Join our new WhatsApp community! Click this link to receive your daily dose of NEWS FLASH content. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don’t like our community, you can check out any time you like.

EPL: VAR under fire as Arsenal play 1-1 draw with Liverpool

VAR official, David Coote has come under criticism following Liverpool’s 1-1 draw against Arsenal on Saturday.

Reds boss, Jurgen Klopp, speaking after the game said a “guy in an office” should have awarded a penalty following a Martin Odegaard handball during the first half.

The Gunners will be top of the Premier League table at Christmas following the result.

Mohamed Salah cancelled out Gabriel’s fourth-minute opener, and the point leaves Liverpool second, one point behind the Gunners.

But Klopp said his team should have been awarded a penalty in the 19th minute after Odegaard appeared to block Salah’s path to the ball by handling in the 18-yard box.

Referee, Chris Kavanagh allowed play to continue and VAR did not stop the match for a check.

Coote deemed that Odegaard handled the ball while falling.

“Yes I have seen it,” Klopp said.

“I am pretty sure someone will come to explain to me why it was not a handball but I don’t know how.

(Daily Post)

Join our new WhatsApp community! Click this link to receive your daily dose of NEWS FLASH content. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don’t like our community, you can check out any time you like.

Kwara, Imo govs head economic affairs, oil theft committees

Kwara State Governor AbdulRahman AbdulRazaq and his Imo State counterpart, Hope Uzodimma, have been named as the chairmen of the Economic Affairs Committee and the Crude oil Theft and Management Committee of the National Economic Council.

The announcement was made by the Vice President, Kashim Shettima, at the 138th meeting of NEC which held virtually on Thursday.

A Government House statement made available to Sunday PUNCH in Ilorin, Kwara State on Saturday said that the committees were saddled with the task of preparing a clear roadmap for dealing with petroleum subsidy, including a framework for defending wage negotiations and exchange rate management.

Other functions are listed as fiscal consolidation sustainability, liquidity management and inflation, medium term investment and growth, fiscal transparency and accountability, as well as state of emergency on food production for 2024.

Recall that Abdulrazaq is the current chairman of the Nigeria Governors’ Forum.

“Members of Governor AbdulRazaq’s committee according to the statement are the Gombe State Governor, representing North-East; Governor of Lagos (South-West); the Governor of Akwa Ibom (South-South); the Governor of Anambra (South-East); the Governor of Niger (North-Central), and Governor of Kaduna (North-West).

“Special Adviser to the President on NEC and Climate Change, Rukaiya El-Rufai, is to serve as Secretary, the statement indicated.

“The second committee on Crude Oil Theft and Management is an existing NEC committee which has been reconstituted with Governor Hope Uzodimma of Imo State as the chairman.

“Other members are the Governor of Ogun State representing South-West; the Governor of Plateau State (North-Central); the Governor of Rivers (South-South) Governor of Borno (North-East); Governor of Jigawa State (North-West); the Governor of Abia State (South-East); Minister of Budget and Economic Planning; Minister of Finance and Coordinating Minister of the Economy; CBN Governor; GCEO of NNPCL, NDDC Chairman, and Service Chiefs.

“The Secretariat will be domiciled at the Ministry of Budget and Economic Planning and the Special Adviser to the President on Economic Matters, Dr Tope Fasua will serve on the committee, the statement further said.

“Part of the Government house statement reads: Meanwhile, following deliberations on critical economic matters and assessments of potential short-term, medium and long-term strategies for addressing pressing economic issues, NEC set up the committees on Economic Affairs, as well as the committee on Crude Oil Theft And Management.

“Both committees are to be headed by Kwara State Governor, Alh AbdulRahman AbdulRazak, and his Imo State counterpart, Senator Hope Uzodimma, respectively.”

(Punch)

Join our new WhatsApp community! Click this link to receive your daily dose of NEWS FLASH content. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don’t like our community, you can check out any time you like.

Wordpress Social Share Plugin powered by Ultimatelysocial