He said that the committee was optimistic that the newly released Economic Recovery and Growth Plan, ERGP, coupled with innovative, growth-stimulating sector-based policies, would help fast track economic recovery, if properly implemented.
Browsing: Mr. Godwin Emefiele
…Gives fresh conditions for release of more funds Oscarline Onwuemenyi 22 March 2017, Sweetcrude, Abuja – Amid allegations of misuse…
The Director-General of the Budget Office, Mr. Ben Akabueze, said the release of the fund was not within the purview of the office, adding that the powers lied with the minister of finance, who should seek approval from the president before the fund was released.
“Council members generally expressed concern over the current situation of the exchange rate and called for an urgent review of the forex policy, especially the gap between inter-bank’s and the parallel market’s rates.”
“Nigeria is implementing an ambitious economic reform agenda designed to deliver long-term sustainable growth and reduce reliance on oil and gas revenues while reducing waste and improving the efficiency of government expenditure,” Adeosun said of the bond.
Emefiele in his speech explained that in addition to earning very good income from a vibrant domestic biofuel industry, Nigeria could also rely on it to provide her alternative clean fuel, reduce her level of fuel importation, and conserve her foreign exchange.
The committee demanded explanation on the criteria for the allocation of foreign exchange to dealers as well as necessary documents to show such allocations to the marketers.
Gwani said in the course of investigation, his panel, among others, uncovered how oil blocs were awarded by persons other than the President or Petroleum Minister, as prescribed by the Petroleum Act.
“The stakeholders strongly opposed the peddling of refined petroleum products across the Nigerian borders to neighbouring countries and would therefore apply strict sanctions against any member of the oil marketing associations found culpable in this regard.”
He however said the bank would increase dollar allocation to the banks and licensed bureau de change (BDC) operators with special consideration to manufacturing industries that need to import raw materials and spare parts in a bid to discourage a situation whereby street currency traders determine its rate to the dollar.
