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Oyo raises N300m cash for Security Trust Fund P7 Why Chelsea wants Eagles star Moses, by Di Matteo P16 Sultan seeks peaceful Ramadan as fasting begins P57 www.thenationonlineng.net
TR UTH IN DEFENCE OF FREEDOM TRUTH
VOL. 7, NO. 2192 FRIDAY, JULY 20, 2012
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Govt scraps DPR, PPPRA •Reps return PIB to President From Yusuf Alli, Abuja
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HE Fedearal Government has scrapped the Department of Petroleum Resources (DPR) and Petroleum Products Pricing Regulatory Agency (PPPRA) under its planned reform of the oil sector. They are to be replaced with the Petroleum Technical Bureau (PTB) and Downstream Petroleum Regulatory Agency (DPRA), if the Petroleum Industry Bill (PIB) is passed by the National Assembly. The House of Representatives, yesterday, returned the PIB to President Goodluck Jonathan, claiming that it has no time to consider the bill because of its impending vacation. But the Senate has promised not to delay the bill’s passage. Under the bill, the government is offering 30 per cent equity to Nigerians in the unbundled Nigerian National Petroleum Corporation (NNPC). Another major provision of the bill sent to the lawmakers on Wednesday is the government’s decision to ensure total deregulation of the downstream sector. According to a copy of the bill obtained last night by our correspondent, the new agencies that will emerge from NNPC, three months after the bill is signed into law, are National Oil Company, National Petroleum Assets Management Corporation, and National Gas Company. Nigerians and other investors will have the opportunity to own 30 per cent shares in the National Oil Company and 40 per cent in National Oil Gas Company. Continued on page 3
•Oyo State Governor Abiola Ajimobi (second left), Action Congress of Nigeria (ACN) National Leader, Asiwaju Bola Tinubu (third left), Alaafin of Oyo, Oba Lamidi Adeyemi (second right), Aare Musulumi of Yorubaland, Alhaji Azeez Arisekola (right) and Commissioner of PoliceTambari Muhammed (left), at the launch of the State Security Trust Fund in Ibadan…yesterday
Oteh unfit to be SEC DG, say lawmakers
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IRECTOR-GENERAL of the Securities and Exchange Commission (SEC) Ms Arunma Oteh is unfit to hold the position, the House of Representatives said yesterday. Ms Oteh was recalled from suspension by the Federal Government on Wednesday after being cleared of “fraud or criminal
Victor Oluwasegun and Dele Anofi, Abuja
breach of any form by external auditors – Price Water Cooper Limited (PWC) - which audited SEC’s controversial Project 50. But workers protested her recall at the Abuja Central Business District (CBD) office of SEC.
Minister of Finance Dr. Ngozi Okonjo-Iweala has stepped into the matter to smoothen Ms Oteh’s return to office. The SEC DG failed to resume in office yesterday as widely expected. Yesterday, the House accepted all the recommendations of the Ibrahim El Sudi-led ad hoc com-
mittee that investigated the nearcollapse of the Capital Market. During the consideration of the committee’s report, El Sudi said: “ I want to correct an impression that has been created in the media that tends to affect the image of the House. Continued on page 4
House issues Jonathan ultimatum on budget Wields impeachment axe
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•Dr. Jonathan
HINGS have come to a head between President Goodluck Jonathan and the House of Representatives. The lawmakers, yesterday, threatened him with impeachment over what they called “poor implementation” of the budget. But in its reaction, the Presidency said it is on the same page with the House on the matter. At a plenary full of suspense, the lawmakers hailed Minority Leader Femi Gbajabiamila (ACN, Lagos), when he raised the issue of impeachment during debate on a motion ac-
Presidency: we’re on same page
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If by September when we resume from recess the executive has not implemented the budget to 100 per cent, we will begin drafting the article of impeachment From Dele Anofi, Abuja
cusing the executive of violating the 2012 Appropriation Act. The motion was brought by Chairman, Committee on Rules and Business Albert Sam-Tsokwa and 20 others. Contributing to the debate, Gbaja-
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biamila, relying on Section 143 of the Constitution, said the President was culpable of gross misconduct going by the submissions of earlier speakers. His colleagues cheered him when he moved to amend the Sam-Tsokwa and others’ motion, saying: “If by Sep-
tember when we resume from recess the executive has not implemented the budget to 100 per cent, we will begin drafting the article of impeachment”. Nadu Karibo (PDP, Bayelsa), citing Order 7 (57), said impeachment should not be mentioned because it is not relevant to the debate, but his colleagues shouted him down. Speaker Aminu Tambuwal sustained the point of order but asked Gbajabiamila to conclude his argument. Acknowledging Karibo’s point of Continued on page 4
•NINE KILLED IN BORNO, KANO P57•ACN: PDP IS DEMOCRACY’S PROBLEM P6