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

PDP Issues Certificate Of Expulsion To Wike, Fayose, Anyanwu, Others

Published

3 hours ago

December 3, 2025

Editor

The Peoples Democratic Party (PDP) said it has issued certificate of expulsion from the party to the Minister of the Federal Capital Territory, Nyesom Wike, and other 10 members earlier expelled from the party.

The party National Chairman, Tanimu Turaki, disclosed this while speaking with newsmen after the PDP National Working Committee (NWC) meeting in Abuja on Tuesday.

The other members, according to him, include the embattled National Secretary, Sen. Samuel Anyanwu, the Legal Adviser, Kamarudeen Ajibade, former Governor of Ekiti State, Ayodele Fayose.

They also included Sen. Mao Ohuabunwa, Austin Nwachukwu, Abraham Amah Nnanna, George Turna and Chief Dan Orbih, expelled during the party National convention in Lagos.

Turaki said that the original copies of the certificate had been dispatched to the owners through a courier service to serve as proof that they were expelled from the PDP.

“We have taken note of the fact that Nigerian law frowns on dual membership of political parties, and so we have sought to make it easy for them.

“Now that they are no longer members of our party, and now that the National Convention, which is the highest decision-making organ of our party, has expelled them, we have decided to issue them certificates of expulsion.

“So, when they go to register with other political parties in Nigeria, they will show these certificates as proof that they are no longer members of the PDP.

“By that, those parties will not accuse them of trying to belong to more than one political party,” he said.

He called on the Independent National Electoral Commission (INEC) and security agencies, including the Nigeria Police, the Department of State Services, and other government agencies, to take note.

“Very soon, members of the society will be informed via proper disclaimers that any person henceforth who decides to do business with them, any or all of them, does so at his or her own risk.

“They are no longer members of the PDP. They have been expelled,” he added.

He added that the NWC also reviewed some of the cases filed against the party and lawsuits instituted by the party, particularly the one that related to the “unlawful and illegal” closure of the party’s national Secretariat, the Legacy House, and the Wadata Plaza.

“The brief we received from our lawyers is that we are on sound ground, and that very soon, the law will take its course,” he said.

Turaki said the NWC was prepared to be saddled with the responsibility of performing its functions as the leading opposition party in Nigeria.

“We are going to provide a credible alternative to Nigerians. We are going to provide credible leadership to Nigerians by the special grace of God from 2027,” he said.

Politics

Adebayo Adedamola Wins Osun PDP Governorship Primary

Published

1 day ago

December 2, 2025

Editor

Adebayo Olugbenga Adedamola, popularly known as FRYO, has emerged as the Peoples Democratic Party, PDP, candidate for the August 8, 2026 governorship election in Osun State.

The primary election took place in Osogbo on Tuesday amid heavy security presence.

Announcing the result, chairman of the primary election committee, Humphrey Abba, stated that Adebayo secured 919 votes out of 957 accredited ballots, giving him a clear victory in the contest.

Explaining that there were 20 void votes following the withdrawal of one of the candidates, believed to be Governor Ademola Adeleke, Abba added, “The candidate that got the remaining votes is Adebayo Adedamola with 919 votes and he stands elected and returned.”

DAILY POST reports that despite announcing his resignation from the party, Adeleke’s name appeared on the ballot paper for the PDP governorship primary.

Party officials said the exercise was conducted in accordance with established guidelines, with accredited delegates participating in the voting process.

Adeleke announced his resignation in a letter dated November 4, 2025, and addressed to the PDP leadership at his ward.

On Monday, Osun PDP chairman, Sunday Bisi, had announced that the governorship primary slated for Tuesday, December 2, 2025, has been postponed due to leadership crisis at the national level.

But a faction of the party went ahead with the exercise in Osogbo on Tuesday.

Politics

Gov Adeleke Resigns From PDP

Published

2 days ago

December 2, 2025

Editor

Osun State Governor, Ademola Adeleke, has resigned from the Peoples Democratic Party (PDP) ahead of the 2026 gubernatorial primaries of the party.

Adeleke’s resignation letter, dated November 4, 2025, sighted by Tribune Online was addressed to the PDP ward chairman for Ward 2, Sagba Abogunde, Ede, Osun State.

According to the letter, the governor’s resignation was based on “the current crisis of the national leadership of the People’s Democratic Party (PDP).”

According to the letter, titled: “Resignation of my membership of the People’s Democratic Party (PDP)’ read, “Due to the current crisis of the national leadership of the People’s Democratic Party (PDP), I hereby resign my Membership of the People’s Democratic Party with immediate effect.

“I thank the People’s Democratic Party for the opportunities given to me for my elections as a Senator (Represented Osun West) and as Governor of Osun State under the People’s Democratic Party.”