OFFICE OF THE VICE PRESIDENT

PRESS RELEASE



HOW NEC, NEWLY FORMED EAC WOULD WORK TOGETHER BY VP OSINBAJO

In response to a request for clarification by members of the National Economic Council regarding NEC’s relationship with the newly announced Economic Advisory Council, EAC, Vice President Yemi Osinbajo, SAN, has said both councils are for the benefit of the President.

Prof. Osinbajo spoke at the 97th NEC meeting today at the Council Chambers.
“If NEC want to be briefed regularly by the Economic Advisory Council, EAC, we will request the President to do that,” the VP explained to the Council observing that such interaction will promote synergy.

Below are highlights of NEC deliberations:

NEC (5TH IN 2019) 97TH NEC MEETING – THURSDAY, 19TH October, 2019

UPDATE ON THE NATIONAL LIVESTOCK TRANSFORMATION PLAN BY THE GOVERNOR OF EBONYI STATE, DAVE UMAHI, CHAIRMAN OF NEC TECHNICAL COMMITTEE ON THE NLTP

The chairman reminded NEC that the Committee was to address the
Farmer/herder crisis
The Committee presented a National Livestock Transformation Plan 2019 – 2028.
The Plan is not targeted on only cows but a holistic strategy to address animal husbandry.
The Plan has six pillars:
Conflict Resolution
Justice and Peace
Humanitarian Relief and Early Recovery
Human Capital Development
Cross cutting issues
Economic Development
The Committee proposed an implementation guideline to guide FG and States
N100 billion has been budgeted to support the project.
FG is to contribute 80% in grant to support States, while States will contribute land, project implementation structure, personnel and 20% cost of the project.
Council Resolution
Need to look at the Trans-Human West Africa Regional Protocol – because the country cannot allow such movement of cattles without registering and monitoring them
Council emphasised the need to established the fact that NLTP is a creation of NEC and State Governors and is completely distinct from RUGA.
NEC adopted the National Livestock Transformation Plan on January 18, 2019. It is a creation of the National Economic Council.
States will determine, whether or not they are willing to participate, as FG did not impose this plan. Participation remains voluntary.
The role of the FG is to coordinate, monitor and help implement the plan.

UPDATE ON ACCOUNT

Honourable Minister of State for Budget and National Planning reported to Council that balances in the underlisted accounts as at 17th September, 2019 are as follows:
EXCESS CRUDE ACCOUNT (ECA) = USD 274, 583, 856 .78
STABILIZATION ACCOUNT = N23, 796, 349,487.76
DEV. NATURAL RES. ACCT FUND = N105, 135, 613, 817.27
UPDATE ON BUDGET SUPPORT LOAN FACILITY
The Honourable Minister of State also briefed in the Budget Support Facility that State Governments are expected to start servicing the loan from September 2019 and repayment is over 240 months
Council resolved that Governors should meet with the Ministry of Finance and Central Bank of Nigeria to sort out the details of repayment modalities and the Vice President will ensure same and ensure the meeting between the Governors, CBN and Finance Ministry in order to facilitate the speedy resolution of the matter.
UPDATE ON THE PRESIDENTIAL ENABLING BUSINESS ENVIRONMENT COUNCIL (PEBEC)
The Secretary of the Presidential Enabling Business Environment Council (PEBEC) Dr. Jumoke Oduwole gave an update on building an Enabling Business Environment. She informed Council that
There is currently a reform wave in African countries, as contained in the African Development Bank (AFDB) Economic Outlook Report released in January, 2019.
That in the 2019 World Bank ease of doing business ranking, Nigeria is ranked 146 with Micro Small and Medium Enterprises (MSMEs) making up to 90% of Business in Nigeria.
That the Economic Recovery Growth Plan (ERGP) 2017-2020, which has three broad objectives; which includes restoring growth; Investing in people and Building a competitive economy has positioned Nigeria in the path of building a competitive economy.
That PEBEC is mandated to make Nigeria’s ranking to top 100 in the 2020 World Bank Doing Business index.
Achieve the required political buy-in across all arms and levels of government.
Furthermore, she told NEC that PEBEC has in the past 3 years achieved the following:
Moved up 24 places in the World Bank Ease of Doing Business ranking
32 Nigerian states, led by Kaduna, Enugu, Abia, Lagos and Anambra states have improved in their ease of doing business environment.
An independent EODB survey adjudged Nigeria’s reforms as impactful in terms of reduction in time, cost and procedures of doing business.
REPORT OF THE AD-HOC COMMITTEE ON CRUDE OIL THEFT,
PREVENTION AND CONTROL PRESENTED BY GOVERNOR EDO STATE

-The 13 member Ad-Hoc Committee which is chaired by the Governor of Edo State, Mr. Godwin Obaseki in their report, told the Council that the Committee is constituted to address:
i. Impact of vandalism, oil theft and illegal bunkering on oil production;
ii. Effectiveness of the activities of the JTF and other Security Agencies
iii. Consider the set-up of Special Courts to prosecute offenders, among others.
The Terms of Reference of the Ad-Hoc Committee is to include:
· restoring and sustaining the three major pipelines;
· assessing the challenges and draw up a roadmap to guide further actions towards finding a lasting solution to the problem;
· co-opt individual or corporate body to facilitate the work of the Committee and update the Council regularly.
- The Ad-Hoc Committee in its findings discovered that there were losses. NNPC reported a loss of 22.64 million barrel of crude oil valued at USD 1.35 billion for 2019 half a year and possibly UDS 2.7 billion for a full year at a global oil price of USD 60 per barrel, if not checked.
- The losses were recorded on the following pipeline:
a. Nember Creek Trunk Line (NCTL) 9.2 million barrels
b. Trans Niger Pipeline (TNP) 8.6 million barrels
c. Trans Forcados Pipeline (TFP) 3.96 million barrels
d. Trans Escravos Pipeline (TSEP) 877 Thousand barrels.

- Absence of governance structure for the pipeline such that no one is held accountable whenever there is a breach on the lines.
- Slow and inadequate prosecution of oil thieves, despite numerous arrests and seizures.
- Absence of petroleum products filling stations in most of its oil producing Communities that make them resort to illegal bunkering and refineries
- Huge internal and external markets of stolen crude oil which include Ghana as well as some neighboring countries.
-The Committee made the following recommendations to the Council:
i. The need to restructure the maintenance of all pipelines as a way of tackling the perpetrators of oil theft. ii. Have a legal framework that will ensure every criminal is duly prosecuted, imprisoned and all assets confiscated.
iii. Setting up Special Courts to try offenders, set-up of Legal Task Force to coordinate the prosecution of arrested offenders as well as train special judges to handle cases of oil theft.
iv. NNPC to engage the National Intelligence Agency (NIA) to identify markets for the stolen products.
v. Governors of the oil producing states to step up actions to develop their communities with their 13% derivation allocation as well as implement programmes that will be impactful to make life easy for the people. They should also create employment opportunities for the youths in these regions.
vi. Propose a funding arrangement to be jointly funded by the Federal, State Governments and oil companies.

Council Resolution
Council resolve as follows:
Recommendations given will be presented to the President who is also the Minister of Petroleum for the final decision and implementation.
The Chairman of Council also asked NNPC to make a presentation to the Council on the state of PMS and smuggling across the borders.
ANY OTHER BUSINESS

Governors requested clarification from the Council Chairman on the relationship between NEC and the newly formed Economic Advisory Council. The Vice President explained that both Councils are advisory for the benefits of the President, while NEC is established by the Constitution. The Vice President added that NEC could be briefed regularly on the activities of the newly found EAC with the permission of the President.

Released by

‘Laolu Akande

Senior Special Assistant to the President on Media & Publicity
Office of the Vice President
19th October, 2019

Abba Kyari is the de-factor President.

Abba Kyari is the V-President.

Abba Kyari is the Chief of Staff.

Abba Kyari is Buhari's advisers on any & all matters.

Abba Kyari is the Nigerian Presidency.

k

K

Our mere house boy

People expending negative energy and losing sleep over the president being president and vice president being vice president as the constitution requires.

Advanced Ruga project

Amazing with osibanjo moves

Yen yen yen condolence VP

The presidential cabal are not only humiliating and liquidating your powers but also forcing you to do the damage control for them.O ma sè o!

Thought they said the NEC is no more...and some people were happy that the VP plays no more roles on the government... Shaking my head.

Osinbajo dont reply children of hate anymore

As much as they hated and vowed to evict Awolowo's grand child Dr Seyi on a mere Reality Show Bigbrother naija because of their envy for yoruba's , they failed woefully...

Is it now a Vice President, A Senior Advocate of Nigeria, Pastor of God and a Professor Of Law they, a man God saved twice from and helicopter crash, they would use fake news to impeach

The Harder they hate us, the more God blesses us and relegates them from national political relevance

Odua a gbe wa oo ase!! Awon ota wa onileke wa oo ase!!



...

[s]

solmusdesigns:



Osinbajo dont reply children of hate anymore

[/s]

Why always cow?

The attention on cow and cow herders is just too much, if half of it is given to power and economy I'm sure things would have been better.

Whatever be the case, you are being tactically sidelined by Some forces.. Wise up now


Check out my signature for classy and durable furniture for your homes and offices

Some animals will be in sifia pains reading this from OSINBAJO now. Foolish people dem.
Carry go Oshin Baba. U get mouth daku.

Okay

Those waiting for your downfall will be disgraced soon

O jo gante ko jo gante





O ti se ese gante gante

Policy upon policies

We open verified WeChat and Alipay wallet

Goodone there, though the condemned and godforsaken henchmen of Igbos and their internet fraud stars will definitely not be happy Wii the news for their natural hatred for healthy and enabling environment.

Op, what's 19th October doing in the end part of your long post?

You Wan finish Buhari tenure abi na mistake.

Olanipekun1:
useless bastard pasta
osibanjo is a vagabond puppet and a hopeless bastard charlatan bribe eating scumbag fake pasta
tinubu is a bastard drug dealing vagabond
APC is bokoharam
kiss the truth

Omo jati jati y have no regards for elders and leaders..

If u re in his position u will cave in with stealing...if u must criticise do so with with at least 1% of ur brain working.

Olanipekun1:
useless bastard pasta
osibanjo is a vagabond puppet and a hopeless bastard charlatan bribe eating scumbag fake pasta
tinubu is a bastard drug dealing vagabond
APC is bokoharam
kiss the truth

If the whole of the best, most fortunate, and celebrated of your ancestry are combined, and they can never amount to 20% of osinbajo in life.

If you dare challenge this, you just tell us one of them!

See consolation from rt honourable VP. You better go to bed

.

says the chief mourner Federal Republic of Nigeria

How to deal with someone who disturbs you with calls....Go to OLX, advertise iPhone 10 for N20,000, leave his number as a contact, then sit back, smile and drink chilled coke. Then watch God fighting your battle