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CNG: FG sets to rollout initial critical assets May 29
All is now set for the delivery of the first set of critical assets for the deployment and launch of the Compressed Natural Gas (CNG) initiative ahead of the first anniversary of the Tinubu administration on May 29.
According to the presidency, which stated this on Sunday by Special Adviser to the President on Information and Strategy, Bayo Onanuga, Nigeria will take “some baby steps” to join nations that already have large fleets of CNG vehicles by the end of May.
He said: after months of detailed planning and background work, the committee driving the initiative is set to deliver on President Tinubu’s vision and promise, the statement said.
Already, the Presidential Compressed Natural Gas Initiative (PCNGI) committee, led by Michael Oluwagbemi, has delivered some major foundational reforms to enable the new CNG and Electric Vehicles future the president promised.
The statement affirmed, “After the removal of the wasteful fuel subsidy on May 29, 2023, President Bola Ahmed Tinubu launched the Presidential CNG Initiative in October last year to deliver cheaper, safer, and more climate-friendly energy. The CNG Initiative was designed to deliver compressed natural gas, especially for mass transit.”
“The Federal Government, as part of the many intervention programs to reduce the burden of the increase in pump price on the masses, provided N100 billion (part of the N500 billion palliative budget) to purchase 5500 CNG vehicles (buses and tricycles), 100 Electric buses, and over 20,000 CNG conversion kits, alongside spurring the development of CNG refilling stations and electric charging stations,” it added.
The statement observed that with necessary tax and duty waivers approved by President Tinubu in December 2023, the PCNGI committee is partnering with the private sector to deliver on the initiative.
The presidency maintained that the Tinubu administration has opened a new industry, along with creating thousands of new jobs.
“In all, over 600 buses are targeted for production in the first phase, which will be accomplished this year,” it noted.
“As part of private sector collaboration, NIPCO and BOVAS are involved in offering refilling services for the CNG vehicles and also serving as conversion centers,” the statement added.
“The Tinubu administration is an enabler of the evolving CNG industry,” it concluded.
News
Senate confirms Oyedele as minister
During the screening, Oyedele proffered solutions to getting out of the various economic issues in the country.
The Senate has confirmed the nomination of Taiwo Oyedele as Minister of State for Finance.
His confirmation comes after two hours of screening as lawmakers grilled him on various aspects of the economy.
Oyedele’s screening followed a motion moved by Opeyemi Bamidele, the Senate leader, after he called for the suspension of the Senate rule to allow strangers to come into the chamber.
During the screening, Oyedele proffered solutions to getting out of the various economic issues in the country.
Oyedele was escorted to the chamber by Bashir Lado, the Special Adviser to the President on the National Assembly ( Senate), alongside others.
His screening followed President Bola Tinubu’s letter to the Senate on Tuesday, requesting his confirmation as a minister.
Tinubu had, on March 3, nominated Oyedele, who currently serves as chairman of the presidential committee on fiscal policy and tax reforms, as Minister of State for Finance.
News
Tinubu appoints Lamido Yuguda as CBN’s Deputy Governor
Lamido Yuguda’s last public post was as director-general of the Securities and Exchange Commission, a position he held from 2020 to 2024.
PRESIDENT Bola Tinubu has approved the appointment of Lamido Abubakar Yuguda as Deputy Governor of the Central Bank of Nigeria (CBN)
The appointment is in accordance with Section 8(1) of the Central Bank of Nigeria Act, 2007.
This was disclosed on Wednesday by the presidential spokesman, Bayo Onanuga.
The President charges Yuguda to discharge his responsibilities with renewed dedication, professionalism, and commitment to Nigeria’s economic stability and growth.
Lamido Yuguda’s last public post was as director-general of the Securities and Exchange Commission, a position he held from 2020 to 2024.
He is an alumnus of Ahmadu Bello University, where he graduated in 1983 with a B.Sc. in Accountancy.
In 1991, he obtained a master’s degree in Money, Banking and Finance from the University of Birmingham, United Kingdom.
He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a CFA charterholder.
He began his career in 1984 at the Central Bank of Nigeria (CBN) as a Senior Supervisor in the Foreign Operations Department.
He also worked as an economist in the Africa Department of the International Monetary Fund from 1997 to 2001, when he returned to the CBN.
He retired from the CBN in 2016, after he had served as Director of the Reserve Management Department for six years.
News
JUST IN: IGP Disu Assigns Portfolios to New DIGs
DIG Zachariah Fera Achinyan has been deployed to Legal Services, DIG Zango Ibrahim Baba to Research and Planning, and DIG Isyaku Mohammed to Training and Development departments.
The Inspector-General of Police (IGP) Olatunji Disu has assigned the new Deputy Inspectors -General of Police (DIGs) their duties responsibilities.
Sources said that the DIGs were assigned departments based on their areas of competence.
DIG Zachariah Fera Achinyan has been deployed to Legal Services,
DIG Zango Ibrahim Baba to Research and Planning, and DIG Isyaku Mohammed to Training and Development departments.
Similarly, DIG Margaret Agebe Ochalla has been posted to the Force Criminal Investigation Department (FCID);
DIG Mohammed Abdul Sulaiman to Finance and Accounts; DIG Kenechukwu Onwuemelie will oversee the Force Intelligence Department (FID); DIG Fayoade Adegoke will head Information and Communication Technology, while DIG Umar Shehu Nadada has been posted to Operations departments.
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