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N500bn palliative: Kano gov’t criticizes FG’s sharing formula

  • Post category:Politics

Kano State Governor, Abba Kabir Yusuf, has voiced his disapproval of the federal government’s allocation of N500 billion through the Bank of Industry to support small-scale industries nationwide. Governor Yusuf made this statement during a meeting with representatives from the Kano Cooperative Society at the state government house. He expressed concern that the distribution of funds was heavily biased, with Lagos State receiving 47% of the allocation, followed by the South-South Zone with 17%, while other regions received significantly lower percentages. In a press release issued by the Press Secretary to the Deputy Governor, Ibrahim Garba Shuaibu, it was stated that Governor Yusuf considered this distribution to be unfair, unconstitutional, and illegal. He called on relevant authorities, including Senators and Members of the House of Representatives, to address this issue and take appropriate action against those responsible. The governor affirmed the state government’s commitment to support Cooperative Societies in their efforts to combat poverty and regain influence, highlighting their importance as vehicles for citizens to improve their lives and contribute to overall community and national development. He also announced that the state government would collaborate with Cooperative Societies to design poverty eradication and sustainable development programs. Additionally, committees would be established to review the activities of Cooperative Desk Officers in each Local Government Area, and desk officers would be introduced in major markets to guide and support cooperative activities. The meeting was attended by various dignitaries, including government officials and representatives from educational institutions involved in cooperative activities in Kano State.

In another development, Shell Petroleum Development Company (SPDC) has temporarily halted the loading of Nigeria’s Forcados crude oil due to a suspected leak at the export terminal. The company confirmed that injections into the Forcados Oil Terminal were curtailed following the observation of sheen in the mooring vicinity. The suspension of activities is aimed at conducting investigations into the potential leak. In June 2023, the Forcados crude oil terminal had the highest crude oil output among the seven major crude terminals in the country, according to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). Since the beginning of the year, crude oil production at the Forcados terminal has fluctuated between 5 and 7 million barrels per day, with slight declines in March and April 2023. In May 2023, the Forcados terminal in Delta state boosted crude oil and condensate output. Nigeria’s overall crude production in June 2023 was reported at 1.25 million barrels per day, with additional amounts of blended and unblended condensates. These data indicate that Nigeria’s crude production totaled 1.48 million barrels per day during that period.

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