Finance Minister Seeks Staff Support To Drive Reforms

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun has sought the cooperation and support of the staff to enable him deliver on the mandate of President Bola Ahmed Tinubu. According to a statement signed by Director (Press & PR), Stephen Kilebi on Thursday in Abuja, the minister made the appeal during a town hall meeting with the management and staff of the Ministry in Abuja. The meeting which was held at the instance of the Minister was aimed at exchanging views with the management and staff on how best to deliver on the mandate of the Ministry in the Renewed Hope Agenda of the current administration. Edun said the essence of the meeting was, “Let me meet my people, feel their pulse and know what to do with them in order to deliver on the mandate given me by Mr. President.” He added, “A tree does not make a forest. Working together, honouring one another and being fair to one another can perform wonders.” He added, “I encourage staff to perform excellently in order to deliver in their callings not only for the Ministry but for the whole country.” The Minister assured of continued staff welfare for better and efficient service delivery. The Minister while appreciating the resilience and professionalism of Nigerian workers urged the staff to join hands with him to deliver on the mandate reposed on him by the President on his Renewed Hope Agenda. He said the President’s Renewed Hope Agenda is a veritable tool for service delivery assuring that “Things are going to change and be better, not only for Nigerians, but will make the Ministry attain global competitiveness,”  Edun added that President Tinubu is a leader, a coach and a strategist and will change the narrative. He said the President is “A man of empathy, who acknowledges the sufferings of Nigerians even when Nigeria is rich in all sectors will definitely change things around for good.” Edun who acknowledged the President’s vision of inclusivity and gender friendly administration said, “I am extremely happy to be in the Ministry. I am privileged to be the Minister of Finance and the Coordinating Minister of the Economy and the Chairman Forum of African Ministers of Finance.” He noted that the task was enormous and he couldn’t do it alone without the support of the management team and the staff commitment. He assured that staff welfare would be given top most consideration to ease their suffering, disclosing that plans were on the way for the provision of Compressed Natural Gas (CNG) buses to alleviate the suffering of Nigerians as a result of the removal of fuel subsidy, stressing that with CNG buses Nigerians would pay less for transportation. Earlier, the Permanent Secretary Finance Okokon Udo, appreciated the minister for his maiden meeting with the staff and pledged the support of the management and staff of the Ministry for his success. He noted that the meeting was a “veritable platform for interaction” adding that its essence was to “rub minds, express feelings, tell ourselves the truth constructively and how to move forward”. Udo said that the Ministry has a conducive working environment for effective and efficient service delivery. The Joint Union Chairman, Comrade Mohammed Attahiru, while officially welcoming the Minister said, the “Minister has broken the jinx by holding the interactive session adding that, the interactive meeting was what the trade union had been yearning for. He mentioned that, based on the Minister’s pedigree which stood him out, the union has no doubt that he will perform creditably and promised him of their total support.

Right regulatory policies will attract oil sector investments– Seplat CEO

The Chief Executive Officer, Seplat Energy Plc, Mr. Roger Brown, has said that the upstream and midstream sectors of the petroleum industry are in need of critical funding if it is to develop into a world-class sector and also attract investments. Speaking at the ongoing 2023 Nigeria Oil & Gas Conference (NOG) conference in Abuja, the Seplat CEO said that attracting funding is dependent on regulatory reforms, fiscal terms restructuring among several other policy initiatives. Brown explained: “Nigeria needs more success stories to attract more investments to the upstream sector. We need to solve the insecurity dilemma around the country’s pipeline infrastructure, enforce clarity and separation of powers among regulatory authorities, work closer with field operators to resolve host community issues, and amend fiscal terms of PSCs/PSAs to include more incentives for asset partners. “We also need to improve fiscal terms on gas contracts to support uptake at market reflective prices and improve efficiency and capacity of the Nigerian electricity value chain in order to aid higher uptake of domestic gas supply.” Whilst also speaking on the things investors look out for in Nigerian companies in the quest for gas development in the country, Brown said financially strong companies with robust balance sheets, low debt, and credible access to international capital markets have an edge. “Other factors are stock market listing and the associated need for governance, with a preference for dual-listed companies such as Seplat, where equity can be traded in liquid markets; international accountability and transparency in reporting, particularly as it relates to ESG reporting, with good commitment to sustainability; and good relationships in-country with government, regulators and local communities.” According to Brown, the company remains committed to creating and sustaining values in the Nigerian upstream sector and has continued to do so via a strong investment work plan, host community development, partnerships with the government, and aggressive human capital development.