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Odds against downstream deregulation - By Chijama Ogbu

 

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Bar. Bello Mahmud: The New Registrar General for CAC

 

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No 2nd Term for YarÁdua – Billionaire Debtors Vow

 

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Federation Account: How They Share N332bn in October

 

The Sharing of N27.8bn on Exchange Rate difference in October 2009

 

List of Federal Perm. Secs and their States - Non from Bayelsa

 

List of Major Debtors in Nigeria

 

Exclusive Interview

No more Needless Borrowing in Public Offices - Aliyu Yelwa, Boss of Fiscal  Commission

 

Monetary

CBN Supports Deregulation, Allows ETB to Rectify Lapses

 

Communiqué No. 66 of the Monetary Policy Committee Meeting

 

List of Major Debtors in Nigeria

 

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SMEDAN Advises Small Businesses on Good Idea

 

Odey Inaugurates Panel on IWMF in Niger Delta

 

Finally FG, States Share $2bn from Excess Crude Account

Honours for EFCC Boss in USA

 

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Economic Confidential, June, 2009

FEATURES

 

That World Environment Day

By Lawrence Adebayo Thomas

 

For the past three years, issues of climate change has dominated  discussions on the environment. And as we celebrate this years’ World Environmental Day (WED), Climatic change and its impacts have taken centre stage.

 

Although African countries, including Nigeria are emitting a very small percentage of the gases causing global climatic change, Africans and Nigerians in particular are the ones who will greatly suffer the consequences, which include water shortages, water borne diseases especially in tropical countries without good sanitation, and decrease in crop yield, with the attendant threat to food security. At this point one may wonder if Nigeria is doing enough to complement the global effort towards mitigating climate change.

 

When President Umaru Musa Yar'Adua formally unveiled his new cabinet in December 19th 2008, Swearing-in the 16 incoming ministers and reshuffling the old ones, he appeared to have renewed his mission in government, and not mincing words, the President said serious challenges lay ahead of his administration and told the ministers that as they were expected to meet their individual targets, they must also work as a compact team. On the environment he charged the incumbent Minister - Mr. John Odey, on the need to address the issue of environmental degradation saying "Environmental degradation has been worsened by the vagaries of climate change. Concern to us should be the fact that these challenges if not tackled head-on could weaken our efforts to attain the Millennium Development Goals (MDGs).”

 

Taking up the President’s challenge Mr. Odey immediately went to work hanging his strategies in line with the policy goal of the present administration outlined by the 7-point agenda. He expressed readiness to ensure sustainable use of our forests and prevent desertification through extensive reforestation programme. This also include  tightening control of fuel wood extraction from reserves, as well as ensuring that gases are refined for economic benefits instead of being flared.

 

True to his words the journey so far has been steady and encouraging. Nigeria has commenced its own Green Campaign to support President Yar’Adua 7 – Point Agenda. In addressing the threat of Climate Change in terms of mitigation and adaptation, government is currently focusing on the implementation of the Clean Development Mechanism (CDM) projects and other Climate Friendly projects in the country.   These projects are being executed on public-private- partnership basis. Already many investors, including some of the country’s big banking institutions, have indicated interest in some of the CDM projects ranging from afforestation and forest degradation programs to capturing of associated gas in the course of petroleum exploration.  For example, the Ministry of Environment is currently working with the Prince of Wales Rainforest Project to investigate ways in which Nigeria ’s Rainforests and other Rainforest countries could be preserved.  Other examples of CDM projects are the Recovery of the associated gas that would otherwise be flared at Kwale Oil-gas Processing Plant and the Pan Ocean Gas Utilization Project recently registered by the Executive Board of the Clean Development Mechanism.

 

It is the belief that these and other projects will earn the investors more foreign exchange through the carbon credit regime. This implies that the projects can generate revenue through their implementation. Apart from being a good source of income to boost the economy, reforestation and afforestation programmes of the CDM projects will complement government's efforts towards combating drought and desertification in the country as well as reducing poverty through green-job creation.

 

In a recent address to the media on the World Environment Day Celebration Mr. Odey did  reveal  that the  Ministry has prepared a number of strategies and action plans in the various thematic and cross-sectoral areas of the environment and natural resources management, such as the National Action Plan to mitigate the effects of Climate Change;

the Adaptation Strategies of Action for Nigeria; the National Ozone Programme of Action;

the National Forestry Development Programme, and the National Action Plan to Combat Desertification and National Capacity Self-Assessment (NCSA).

 

These action plans constitutes a practicable framework for embarking on concrete, effective and targeted initiatives to reduce environmental degradation and above all develop the necessary partnership with the three tiers of Government and the civil society to promote sustainable development in Nigeria .

 

By this highlighted efforts and the various public enligthment communications and networking activities; through periodic International and local Press Briefing and sensitization of the Public on Climate Change related activities and consequences, government has been able to build enough capacity to respond to climate change and to mainstream gender perspective into climate change with equal participation for both men and women.

 

Given all these efforts it is only right that  Nigerians both in the private and public sectors unite  to Combat Climate Change as suggested by this year’s theme: “Your Planet Needs you, Unite to Combat Climate Change”. The Private sector should also do its best to support Government efforts especially in line with government policy of Public Private Partnership. We should all mobilize nation-wide participation in creating the necessary awareness on safeguarding our Environment. Since the main objective of the World Environment Day is to enhance public awareness, knowledge and action towards the importance of conserving and managing the Environment, we must collectively promote an understanding that makes communities change their attitudes towards the environment and mobilize partnership to ensure all our people enjoy a safe and healthy environment. This is because Combating Climate Change is a task that goes beyond what the government, alone, can cope with. Private sectors, non-governmental organizations, the media are called upon to collaborate in mitigating Climate Change.

 

Lawrence Adebayo Thomas

Federal Ministry of Environment

Abuja

   

SPECIAL FOCUS

List of Major Debtors in Nigeria

 

List of Bad Debtors in Federal Mortgage Bank of Nigeria (FMBN)

 

NEMA@10: The Story So Far

 

Questions and Answers on the Examinations of the 14 Banks by CBN

 

FEATURES

Africa's Foreign Reserves: In Reserve For Who?By Chika Ezeanya

 

Churches and Mosques Should Pay taxes - Mcdonald Koiki

 

Deregulating Robbery in Nigeria By Kola Ibrahim

 

Understanding Monetary Policy By Abubakar Jimoh

 

The Making of Ideal Economic Policies By: Salim Salihu Muhammed

 

The Putrid Mess Also in CBN By Les Leba

 

Still on Early Warning Alert System in Nigeria By Yushau A. Shuaib

 

District 9 and the Can of Wild Paradox by Segun Imohiosen

 

Nigeria: Time to Check to the Drift By Dansulieman Mohammed

 

Golden Casket: Between Gani Fawehinmi and Wacko Jacko- By Yushau A. Shuaib

 

NIGERIA@49: Tracing the Economic Intervention- By Abubakar Jimoh

 

NASENI: Striving to end Nigeria’s reliance on foreign good – By Umar Kari

 

Macroeconomic Framework for an Independent Economic Recovery- Salihu Muhammad

 

When Sony Undermines Campaigns of Akunyili and Aoandoka- By McDonald koiki

 

Archetypal Resurgence: The Lamido Sanusi Revolution- By Segun Imohiose

 

Banks and Money Laundering- By Les Leba

 

Oronsaye’s Civil Service reform- By hussaini Sani kagara

 

New Policy in the Civil Service: Hypocrisy at Work? –By Tope Ajakaiye

More Features

 

TAX MATTERS

* Church and Mosque Not Exempted from Tax - FIRS

… Use of Consultants for Tax Collection is an Aberration

*Finance Minister Advocates Partnership on Tax Issues

*FIRS Reopens PAN, Vows to Prosecute Defaulters

*How We Generate N808bn in Tax Revenue Within Six Months- FIRS Boss

*FIRS Generates Taxpayers Numbers for Bank Customers

*Historical Milestone as Online Tax Payment Begins

*FIRS Seals Two Oil Companies Over $610m Tax Arrears

*Firms Owed Govt N260b in Taxes

*Tax Identification Number to Reduce Tax Evasion- FIRS Boss

*Revenue Agencies to Make Full Disclosure- Finance Minister

*FIRS Delists 2 Banks over Non-Remittance of Tax