Politics

FG Gives Conditions for Accessing N250bn Gas Intervention Fund

Published

4 years ago

August 8, 2021

Editor

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

2027: Jonathan Will Contest Under PDP, Return To Aso Rock — Jerry Gana

Published

11 hours ago

September 29, 2025

Editor

Former Minister of Information and Orientation, Professor Jerry Gana, has disclosed that ex-president Goodluck Jonathan will contest again in 2027.

Gana made this remark while speaking to journalists in Minna, the Niger State capital.

According to him, Jonathan will contest in the next presidential election, as the flagbearer of the Peoples Democratic Party, PDP.

According to him, Nigerians had experienced life under two presidents after Jonathan and were now yearning for his return.

“In 2015, former President Goodluck Jonathan said his ambition was not worth the blood of Nigerians,” Gana said.

“After him, another President ruled for eight years, and now another has ruled for two years.

“Nigerians have seen the difference, and the difference is very clear. Nigerians are now asking us to bring back our friend, former President Goodluck Jonathan.

“I can confirm that Goodluck Ebele Jonathan will contest the presidential election in 2027 as PDP candidate, and we should be prepared to vote for him to return as President again,” he added.

Politics

How I Survived Kidnap, Assassination Attempt – Rivers Speaker

Published

11 hours ago

September 29, 2025

Editor

The Speaker of Rivers House of Assembly, Martin Amaewhule, said he is thankful to God for surviving a kidnapping and, an assassination attempt in the past years.
Amaewhule made this known during his 52nd birthday thanksgiving service at the All Saints Anglican Church, Eliozu, Obio/Apkor Local Government Area, Rivers State.

“I am not just marking another birthday but acknowledging that many people had planned to take his life in the last one year, but God didn’t allow them,” he said.
Recounting how he survived a harrowing experience in 2008, he said that he narrowly escaped death during the incident.

Amaewhule noted that he was abducted by some unidentified gunmen at his residence as he arrived after a Sunday church service.

“Some of you were here in 2008 when a preacher was preaching right here on a Sunday service, on that faithful day, I didn’t know the people who came to kidnap me were also in the service,” he said.

“After service, they tactically followed me to my residence, tied up my security guard, and abducted me and took me to a forest where they held me hostage for five days.

“They placed thorns under my feet and inflicted several injuries on my head and body in the process of moving me from one hideout to another within the forest.

“They fed me with biscuits throughout the period even as I almost bled to death.”

The speaker, however, expressed gratitude to God for his numerous blessings, guidance, and preservation over the years.

“When God does things for you, it is important to appreciate him for more.”

Politics

Edo: Chief Ben Bowei Sworn In As Vice Chairman, Ovia South-West

Published

16 hours ago

September 29, 2025

Editor

High Chief Ben Bowei (Left) taking oath of office at the council secretariat on Monday

An Activist and politician, High Chief Ben Bowei has been sworn in as Vice Chairman, Ovia South-West Local Government Council of Edo State.

Bowei, chieftain of the All Progressives Congress (APC), deputises Hon. Nosakhare Edobor who happens to be the Chairman of the council.

The Vice Chairman, a committed member of the APC in the local government and state, is expected to bring his wealth of experience to bear on the local government council being a former National Treasurer of the most respected youth body in west Africa — Ijaw Youth Council (IYC) Worldwide.

Bowei, an advocate and promoter of governance, is the founder of Niger Delta Volunteer for Good Governance, said he’s poised in promoting good governance and taking the dividends of democracy to the most interior part of the local government.

The Vice Chairman urged sons and daughters of the local government to cooperate with the council’s leadership in their bid to extend the dividends of democracy to them.

Bowei, while appreciating governor Monday Okpebholo and his deputy, Hon. Dennis Idahosa, for the good work the current administration has been doing in the state, expressed optimism that the current state government would perform beyond expectations.