Tuesday, 24 July 2012

Air Nigeria to fly again

Air Nigeria will soon recommence regional and domestic operations.
"We would also like to inform that the Lagos London - Lagos flights are operating to schedule and are not affected by the temporary suspension directive of the NCAA.
Passengers are therefore encouraged to proceed with their confirmed itinerary while intending customers can make their reservations through all our sales channels." a statement said.

The reinstated Director-General of the Securities and Exchange Commission (SEC), Ms.Arunma Oteh, Monday resumed duty after the Minister of Finance, Dr. Ngozi Okonjo-Iweala had last Friday visited the commission to pacify members of staff of the commission.
Oteh, who was asked to proceed on compulsory leave on June 11, was recalled last Wednesday  by the Federal Government, saying the report of the external auditors hired to investigate her role in Project 50, Pricewaterhouse Coopers(PWC) did not indict her.
Although the news of her recall was welcomed with protests by the workers of the commission, Oteh waited for Okonjo-Iweala, who supervises the  commission  to return before resuming. 
The minister was said to have visited SEC last Friday and urged the workers to take the decision of the government in good faith.
Based on the above, Oteh resumed yesterday morning and held meetings with all the coordinating directors and divisional heads at the commission. Although details of the meeting could not be ascertained, sources said she  sought their cooperation and harped on the need for every staff member to work closely to move the market forward.
It was gathered that Mr. Ibrahim Bolaji Bello, who acted as DG while Oteh was away has retired.
Bello was meant to have  retired  June  30,  and  he  has retired now that madam is back, a  member of staff of the commission said.
Stakeholders  have advised  the DG  to  have positive reflections  on what has happened, learn from it, make amends and bear no grudge.

 Lagos Plans 50% Input Subsidy for Farmers

The Growth Enhancement Support Scheme (GESS) was flagged off by the Minister of Agriculture and Rural Development, Dr. Akinwunmi Adesina, and is one of the schemes under the Agricultural Transformation Agenda (ATA) of the Federal Government aimed at making material inputs readily available to farmers across the country.
Briefing journalists on the development during the 2012 annual International Day of Cooperatives, Lagos state Commissioner for Agriculture and Cooperatives, Prince Gbolahan Lawal, said that the scheme seeks to lift 20 million poor farmers out of subsistence into self-sufficiency.
He also disclosed that fertiliser and seeds would be made available, accessible and affordable to farmers and the programme has been designed to run for four years.
Under the private sector driven scheme, maize and rice seeds and fertiliser (Urea and NPK) will be made available to farmers at 50 per cent subsidy through Agro-dealers. The balance of 50 per cent will be paid by the Federal Government and State Government at 25 per cent each, he explained

 Power reform hits milestone as Manitoba takes over TCN

The Federal Government on Monday in Abuja signed a $23 million (N3.68 billion) three-year contract with Manitoba Hydro International (MHI) of Canada for the management of the Transmission Company of Nigeria (TCN), a significant stepping stone and transition for the power sector reform.
Bola Onagoruwa, BPE director general, who signed the contract on behalf of the Federal Government, said the Canadian firm, to which government had made an advance payment of $2.5million (N400 million) for the contract, would resume work on Monday, July 30, at the PHCN headquarters in Maitama, Abuja.
Onagoruwa listed stabilisation and security of the grid, reduction of electricity losses during transmission and staff reorientation as some of the key objectives of the contract.
The management contract would also provide efficient management of government investments and ensuare adequate and equitable generation dispatch, according to fair merit order and sound regulatory principles.

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