Business and Economy
FG Abandoned properties Worth N230bn
The House of Representatives Ad-hoc Committee on investigation of Federal Government abandoned properties across the nation says the value of such properties has been put at N230 billion.
The Chairman of the committee, Ademorin Kuye, said this on Tuesday at the committee’s inauguration in Abuja. adsbygoogle || []).push({});
“The figure is a conservative estimation carried out by the Nigerian Society of Engineers (NSE) on the abandoned properties located in Lagos, Ibadan, Enugu, Port Harcourt, Kano, Kaduna and other cities,” he said.
He recalled that on March 12, the House of Representatives in unison considered a motion on the subject and consequently constituted a 17-member Ad-Hoc committee.
“The committee is to investigate the use and current status of such properties and to report its findings to the house.
“At the said session, the house expressed concern that many of such properties located in almost all the states of the federation were abandoned, especially after the Federal Government’s hurried relocation to Abuja, the Federal Capital Territory.
“Many of these properties are now serving as safe havens for criminals. Some are illegally occupied, fraudulently transferred and wholesomely abandoned.
“It is on record that some of the properties are currently being used by individuals and corporate bodies without remitting any revenue, while their managers, in name, have not accounted for the revenue yield.
“The exercise is pursuant to Sections 88 and 89 of the Constitution of the Federal Republic of Nigeria 1999 which empowers the House to investigate and expose corruption and waste,” he said.
Kuye promised that the House of Representatives would take necessary legislative steps to address national economic challenges, poverty, infrastructure decline, misuse of resources, revenue leakage, corruption and other ills.
He said that the committee would leverage on the opportunity to serve as a watershed to cushion the harsh economic realities by sourcing the most needed funds.
“We intend to consciously ascertain the existence and use of such Federal Government properties across the country with a view to facilitating re-investment end maximisation of their use.
“In executing the exercise, the committee will take into consideration the relevant provisions of the Constitution of the Federal Republic of Nigeria 1999 as amended,” he said.
While inaugurating the committee, Femi Gbajabiamila, the Speaker, said that the projects were visual manifestations of the failure to make plans and effectively and efficiently execute them.
This, he said, had hampered the nation’s growth and development for many years.
“The ad-hoc committee we have come to inaugurate today now has the duty to account for these investments and come up with a plan that puts these assets to good use in the interest of all our citizens,” he said.
Source: NAN
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Business and Economy
Kogi GOBO Initiative Empowers Petty Traders in Kabba Central Market, Reinforces Support for Governor Ododo
By Abah Benjamin Eneojoh
The Kogi Forum of Senior Special Assistants (KFSSA) and leaders of the Governor Ododo Business Outreach (GOBO) today 22-11-2024 visited Kabba Central Market to empower local traders and engage community leaders.
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Led by Hon. Yahaya Shehu Ahmed, Chairman and Director General of GOBO, the delegation began their activities with a courtesy visit to the palace of His Royal Majesty, Oba Solomon Dele Owoniyi. The traditional ruler commended the initiative and the foresight of Governor Ahmed Usman Ododo in appointing competent individuals dedicated to improving the lives of citizens.
The team then visited the official residence of the Executive Chairman of Kabba-Bunu Local Government Area, Hon. (Barr.) Zacchaeus Dare Michael. He expressed his appreciation for the efforts of KFSSA and GOBO, noting that the outreach was a commendable step toward bridging the gap between government appointees and the grassroots.
At Kabba Central Market, the GOBO team provided direct financial support to 20 petty traders, including sellers of berneseed, tomatoes, and roasted plantains. Each beneficiary received 50,000 naira to expand their businesses. The gesture aimed to improve the economic situation of the traders and inspire confidence in the government’s dedication to addressing the needs of ordinary citizens.
The initiative also included plans to monitor the progress of the beneficiaries, ensuring that the financial assistance achieves its intended purpose. Hon. Femi Esemikose and Hon. Augustine Egbebi were tasked with following up on the traders’ activities.
The success of the Kabba-Bunu outreach is expected to serve as a model for similar initiatives in other parts of Kogi West Senatorial District and the state. As the GOBO program continues to expand, more communities will benefit from its efforts to empower individuals and enhance economic development.
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Business and Economy
Naira appreciates N28.85 against dollar at official market
The Naira on Thursday, November 21st, 2024 appreciated at the official market trading at N1,658.67 against the dollar.
Data from the official trading platform of the FMDQ Exchange, revealed that the Naira gained N28.
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This represents a 1.7 per cent gain, compared to the previous trading date on Wednesday when it exchanged at N1,687.52 to a dollar.
However, the total daily turnover reduced to 163.66 million dollars on Thursday, down from to 173.29 million dollars recorded on Wednesday.
At the Investor’s and Exporter’s (I&E) window, the Naira traded between N1,707.50 and N1,631.00 against the dollar.
Source: NAN
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Governor Ododo Endorses GOBO Initiative, Empowering Small-Scale Entrepreneurs and Vulnerable Populations
By Abah Benjamin Eneojoh
The Executive Governor of Kogi State, His Excellency Alh Ahmed Usman Ododo has thrown his weight behind the Governor Ododo Business Outreach (GOBO) initiative, a program aimed at uplifting marginalized groups and providing economic opportunities at the community level.
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During a strategic meeting with the Kogi State Forum of Senior Special Assistants in his office on 06-11-2024, the Governor expressed his support for GOBO, which aligns with his vision of inclusive governance.
Launched on October 31, 2024, GOBO has already shown positive impact, with increased visibility and support among petty traders and small businesses. The initiative provides sustainable business avenues for those previously lacking access to financial resources and market opportunities.
Hon. Yahaya Shehu Ahmed, Chairman of the Kogi State Forum of Senior Special Assistants, thanked the Governor for his encouragement and support.
The Governor commended the forum’s dedication to GOBO and its commitment to improving citizens’ quality of life, assuring continued support and encouraging ways to deepen GOBO’s impact across the state.
The forum also presented an award of excellence to former Governor Alhaji Yahaya Adoza Bello, recognizing his contributions to the state’s growth and effective governance , particularly the choice of Gov Ododo and his Deputy.
This development is consistent with research highlighting the importance of government support for entrepreneurship development in Kogi State.
Shehu noted that Small and medium-scale enterprises have significantly contributed to the state’s economic growth, stressing that the GOBO initiative demonstrates the power of grassroots-driven solutions and inclusive growth, marking a step towards sustainable development in Kogi State.
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