Politics

FG Gives Conditions for Accessing N250bn Gas Intervention Fund

Published

4 years ago

August 8, 2021

The Federal Government has said that investors must meet seven criteria to access the N250bn intervention fund for gas value chain businesses.

Recall that the CBN launched the intervention fund last August.

Ms Brenda Attaga, Technical Adviser to the Minister of State for Petroleum Resources, Timipre Sylva, listed the criteria in Abuja on Sunday when she addressed newsmen.

They are technical feasibility, overall business plan an skills and experience output of the business plan as they must meet government’s national objective of cresting skilled and unskilled employment.

Another criterion is the social economic impact of the business plan and what percentage of Internally Generated Revenue it would contribute to the state in which the applicant plans to operate.

Others are the financial feasibility of the plan, economic and finance models of the plan and the environmental feasibility of the plan.

Attaga said that 27 applications had been received and they have obligor limit of N10 billion each.

She added that on the SMEs portion, 50 applications had been received noting that SME scheme had a limit of N50 million

“In this regard, our evaluation covers seven fundamental areas which must be evidenced by applicants.

“This is because people have sent us all kinds of applications that are not in line with the recommended framework of our evaluation.

“The essence is really for us as a ministry to support the propagation of gas and also creation of jobs through access to financing,’’ she said.

She added that SMEs would also follow similar structure but that start-ups would enjoy some leniency in the financial model.

According to her, SMEs will prove that they are registered in Nigeria; they pay their taxes; prove affiliation to first class companies which are already established businesses with good track records within the gas value chain.

She noted that preference would be given to indigenous companies as well as gender-based-led companies in the SMEs category.

She said that with the volume of the fund and spread of businesses, it was expected that the scheme would contribute to job creation.

Attaga, however, said that there was no timeline for applications, but that the fund had a fixed amount.

“In the Liquefied Natural Gas sector, our job creation plan is looking at a minimum of 750,000 jobs; in the Compressed Natural Gas (CNG) sector, we are targeting additional 250,000 jobs.

“The CNG sector jobs including operations of kits centres where vehicles using petrol can be adapted to using CNG and some new fuelling stations would consequently come up.

“On manufacturing, jobs have become leaner because the world is technology- based today and manual labour is getting contracted.

“On industrialisation, we are looking at a spike because of the number of plants that can be set up with this money.

“So, overall, we should hit about a total of three million jobs from this funding, if we get it right,’’ Attaga said

She called for domestication of all inputs to help to reduce cost and support availability of products.

(PUNCH)

Politics

Ovia By-election, Litmus Test To APC Success In 2027, Says Edo Deputy Gov

Published

14 hours ago

August 10, 2025

Editor

The deputy governor of Edo state, Hon. Dennis Idahosa has described next Saturday’s Ovia federal constituency by-election as a litmus test for the state chapter of the All Progressives Congress (APC) for the 2027 general elections.

He, therefore, said that the leadership and members of the party must do all that is necessary in terms of mobilisation and canvassing for votes to secure victory for the APC.

The deputy governor stated this at the party’s flag off campaign for the bye-election in Ovia South West on Saturday.

He noted that on the part of the government, Governor Monday Okpebholo has embarked on infrastructural transformation of the federal constituency to make life more meaningful for the people.

At Siluko Ward, Idahosa told the electorates that aside having a high population, the community is one of the gateways into the state and therefore need to open up the area for development.

He said that the only support needed for the governor to do more is to work for the success of the APC on Saturday.

“Saturday’s by-election is to show our preparedness for the 2027 general elections. I want it to be a 100 perxent win for the APC.”

He said: “Be reminded that all the good things that have come to Siluko ward were facilitated by the APC government.

“We are not taking this election for granted. When you get home, tell your family and neighbours that APC is one way, vote for Omosede Igbinedion, the only female candidate for the National Assembly from Edo state.”

On her part, the party’s candidate foe the poll, Igbinedion, while describing the deputy governor as a grassroot politician who has worked for the transformation of the federal constituency.

She appealed to the people not to relent on their support for the deputy governor, as well as the APC for more infrastructural development.

“Even in the cause of this campaigns, he (Idahosa) has brought some more projects to our communities.

“With you votes on Saturday, I am going to complement his efforts in Abuja for the total transformation of our constituency,” she promised.

Similarly, Senator Neda Imasuen asserted that as a second term member of the house, Igbinedion would be able to identify lapses she made in her first term and correct them and influence projects for the betterment of her constituents.

The council Chairman Hon. Nosakhare Edobo, said that the governor has shown commitment to the people to deserve their support.

Politics

Why We’re Reviving Igueben College Of Education — Okpebholo

Published

14 hours ago

August 10, 2025

Editor

Governor Monday Okpebholo of Edo State has explained why his administration reviving College of Education, Igueben, Igueben Local Government Area of the state.

The governor said the pivotal role the institution will play in bringing development to Igueben informed his decision to revamp the College.

Speaking during the All Progressives Congress (APC) campaign tour of several wards in Edo Central Senatorial District, including Ward 4, 7, 8, Uzea Kingdom, and Ebele Kingdom over the weekend, the governor assured residents that the state’s higher institutions would receive the attention they deserve.

He said: “We will continue to march forward. We are reviving the College of Education, Igueben. We have rolled out a ₦1 billion bursary scheme to cater for Edo indigenes in tertiary institutions.”

Okpebholo, who was received by the Enogie of Uzea and the Enogie of Ebele respectively during the visits, also welcomed decampees from other political parties, led by leaders of various groups from the Peoples Democratic Party (PDP), including the former Speaker of the Edo State House of Assembly, Rt. Hon. Friday Itula, in Okpoju Ward 4.

The governor, while highlighting other achievements of his administration, noted that under the Renewed Hope agenda of President Bola Ahmed Tinubu, Edo State has purchased tractors to boost agriculture, revived the moribund Edo Line Transport Company and cleared its debts, procured security vehicles, banned illegal revenue collection, and intensified the fight against kidnapping.

He added: “Anyone that wants the progress of this country should vote for Mr. President because he loves Edo State. Before now, they could not do anything for us.”

Politics

By-Election: APC Round Off Campaign In Ovia North East LGA, Optimistic Of Victory

Published

1 day ago

August 9, 2025

Editor

The All Progressives Congress (APC) has rounded off its campaign for the August 16th bye-election for the Ovia federal constituency in Edo state.

The party which concluded its campaign with the rally at Utoka and Iguoshodin wards in Ovia North East on Friday, said it is optimistic of victory for the next Saturday poll.

Speaking at the rally, the state’s deputy governor, Hon Dennis Idahosa, said that the party has effectively intimated the people across the 13 wards that in the council area of its campaign promises.

He, however, noted that it is not all about rhetoric for the party has a history of delivery of its campaign promises to the people of Edo state.

Idahosa further said that the APC candidate, Ms Omosede Igbinedion, being a former member of the House of Representatives, has the capacity and experience to attract developmental projects to the constituency.

“Come August 16, with the support of the people, she will take the day. And, this is Iguoshodin Ward. We do not hope to get anything less than 98 percent.

“We are not taking anything for granted. We are going to campaign in the 23 Wards that make Ovia federal Constituency. We are going into the units as this election means a lot to us.

“We want to send someone that is competent, reliable, and understands the workings of the National Assembly (NASS) to represent the people of Ovia Federal Constituency. That person is Gabriella Omosede Igbinedion,” he said.

Meanwhile, the APC candidate said her support system is growing against the background of the defection of the immediate past deputy governor, Marvelous Omobayo.

According to her, “he, Omobayo, paid a surprise visit to my house last night, requesting for my campaign cap. He stated that he was going to wear it throughout this period.”

Simirlarly, the Senator representing Edo South in the NASS, Neda Imasuen, stressed that it is in the intestinal of the APC to win both August 16 scheduled bye-elections in Ovia federal constituency and the Edo Central senate seat.