DA ILY T RUST
23
Friday. May 4. 20'2
Business New draft PIB gets to National Assembly June ,..........
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Moust-. 1f1us
A ~tt~d VttStOn of the much awa Icd htrnItum Industry B II (PIS) dnftrd by the Ffdu.l Govttn~I's task force will be fmally sut mitted 10 the National .\.sSoembly aftc endorKmtnl by President Goodluck !Dfllthan. SpnkirB 00 the side11M of m. on-JOins Oil
Tcchnolotl: '
eonfamcc
In HOUSh n. Tau. tht DirKtorot Depanmcnlof PflroInlm . I~rcrs Oltm
OIoruntob t said thle compLeted draf copy would be
,ubmiurd 10 the Federal
qcculives CouncU In few weeks and upon appro""&! would be forwarded 10 the N.tklfW As.scmbly b <ndonancnL Fftkn..I Govcmmmi had In JanWiry inauguralf'd a sp«iaI task (orce to (ast-
track the pasugeofthe PIB InfO an AcI of the National Assembly. Smator Udoma Udo Udoma heads t.M task
(orce aJ chairman while t.M lechnical commiltff matk up of experienced industry experts is being chair by Osten O6orumoiL I I~ aaid the: new docu -
ment encompasses all t.M various versions of t.M bilb that have bun in the public domain in t.M past one year -A kJt hat happenf'd in t.M last one year_Al a point we war havinS betWttll 10
and 20 venkms of the P18 and whm I saki version. I rnlty mn.n different sets of vm.ion ohhe bill mal we have done In the last coupleofmont.lu:is 1o converge all of that. So then is no big disparity any klnser:' he said Otoruntoo. said the new bill haJ taken can: of all the (ean; cxerciJcd by some stakeholde:rs, C5pe-
dally the International Oil Companiu. He Akl: -nte stake· holders on PLB ue 10 large but we have anchoud everything on Ow: key prln aples such as openness. transparency. competitive, incrn.singlndigenous putkjpltlon as wd1 as Inc~u inl~ue tosowmmenL
-n.eM
a~
t.M baSK
thinp that guided ncry reguJatory provision we have In the PI8.lnd«d the lOCI have been comp'aining that they needed a bit IJl()U
the
upUftJTlf:nt In term ()(
rascal
regime: we have
looked at aU !haL-
First Mortgage s~rategises for recapitalization FIRST ~' Ie:ration Mon-
gage Bank us announced some shor and mediumterm pliaDa mel! with ;urC':f thein~I comral Bank of Uigeria (CBN) arUcula t«l ~fMm aSC'nda (or Tq'OSitloning Nigeria:' mortgage financing IC'("-
"" They Include growth In CU$tom" r, ba.K In the Nalion,,' !-lowing Fund (NI-IF) sct-eme, as wdl., the ITVN:"" o( Its varlow products In alignJTlf:nl with conte "panry mort-
gage m:uitrt demands.
iSlued by eBN through a pT\ldut implementatm o( th~ strategies which
finru grew £rom N4.66
he not~ would Improve iucapadlies..
billio n In 2011. showing a 21 percent growt h nte.
The total assets o( the billion In 2010 to NS.62
It recorded a profit before tax o( N75.20 m iUlon represe:nting 49 percent increase In 2011 uagalMt NSO.55 million In 2010.
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Meding Ir Abuja. Weekend. the Mmaging DirK-
tor. Mr. Felix Ndubuisl. said the: managemt:nt would 11K employ othu Slntegic rr arkdi ng p lans ~ "'Ithl n the law to meet ur with the CBN ruapitaliKtlion order. TIlt C8N has, In III morm package. asked moc-lgage Irutilu tionJ In Nigeria to increase their capttal oullay (rom N2.S billion to N5 billion by 2013 in view of inhcn:nl opentlonal cha llenges amonlSt motlga.ge b.nb whkh Include. under-cap-
ItaUut!on dnrth 00008tetmsourc~o((undinfillo
finance morlgago. legal and rtgubtory constraints as wdl U lra.,s(u of titJes and (or«k sure in nftlt or defaults. Mr_Fehx Ndubuisi told reponeraAI the AGM thai 1M bank WU on course to meel up With th e 20 Il dndlinc on recapitalization o( shan~ capital
GOMBE Stale government has awarded N2.48S billion worth of contract fof t.M procurtment ~ 20,000 metric tonna of (ertllher (or onward distribution 10
Wmers In the comins (armIn • .season. The stale commissioner In(ormalion ReftTmd Habu DawaldandCommisskJner fOf Agrkulture Alhaji Bub. Biri Aid this )"tSlerday after lhe slale executive councillllffting. 1hey said that tM con tract involved 10, 000 mdric lonnes each ~ assoned uru and NPK fertillz.en al thecost ofN 1.24 biDion. The commlsAonen aald the fertilizers a~ to be distributed to all t.M kknti rted and rezistered ranners In designaled wanb and k:M:aI JO""t'mmml Irn5 vta a fool prove mC1hod thai
ror
will msUK the commodity reacbn the fend 1UCrt.. Alhajl 800.. Birl aid the procurtmml wu in addition 10 14,000 metric: lonncs provided by the mJera] GoYcrnmcnt 10 14l,OOO rCJistcmi rarmcn whole two hap pu farmer an 10 be distributed through Ilat
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Other contracll apJ'fOVftl by the stale ex«uti"" councU include: the NS]7 million (or the suppty
0(200 Inclorsand hydm.lk 10Jdtts as ",dl as 1M N848 miUion lOr the munlmanu of Gombc rrgioral WJlcr wpplyKhan<. Othen Indudc the N97S millkJn for lhe design and cONlruaion of the SI* col~ of cdualion In &1 liri and the purchax of plant and machlntrks 0( theearth tqUlpmrnts for rural ckwIopmml projKu.wanitd It 1M em!. ofNS89 million..
Kogi to establish independent power plant Engine oil and other lubriani maldn! &ct0f)' In KOGI State govttnment .Aid it will establish an Independenl POWft' plant using cc.J In oth« to Improw powtt supply In state. The state sovernor Idris Wa~ saki this while commiJ5loning Disma.nto. an
,..,...
1M sowrnor who was represented by htl deputy Yoml Awonlyi aald hiJ; administration is resoIvN 10 create an enabling environment (or private inYUl· moent 10 thrift.
THE NATIONAl CENTRE fOR WOMEM DMLOP.EMT (MCIII
PUBLIC ANNOUNCEMENT
SpeaJdJ'lgal thecornpa-
ny's 5th Annual General
Farmers in Gombe to get 20,OOOmt fertilizer
Th e Na ti onal Cent re fo r Women Development (NCW D) Casserole 2012 on "Maximising women's traditional role and vitalizing principles of quality foods in Africa" slated for tS 'b _29'b June 201 2, in collaboralion with new Abbey-Links Lim ited IS hereby can cell ed. All Inconveniences are deeply regretted. Letters to this effect have been dispatched toall concerned. n. oUllcer- Management, NCWD
SEG STUDY in UK/US Education
-NewcHtIe Univmity
.auten·s unMnity
oCoImdo_
-St. Cieofl e's UnIvmrty
-South fkJridl UnMrlity · ~tr tInNMity
'....... K """'' ' '
SEG EdOCilhon
G/F NiitloNl Ubrary Hndquilrters Central Ntil,
Abu"
0801591116J