Saturday, June 17, 2023

HIGH EXPECTATIONS FROM THE LEADERSHIP

#corporateleaders   

Ikechukwu Odoemelam Esq    

Section 50(1) of the 1999 Constitution of the Federal Republic of Nigeria as amended prescribe: “There shall be: (a) a President and a Deputy President of the Senate, who shall be elected by the members of that House from among themselves”

Nominations must consider the rankings of the senators. Certainly the longer and experience their services the more attractive and likely to be nominated.

It's therefore not surprising that  Orji Uzor Kalu, South East Godswill Akpabio South-South, were  among the leading contenders for the position. Finally, Akpabio won.

As Akpabio becomes President of the 10th Senate expectations are high about his leadership style and priorities on burning issues of the moment.

His eligibility was obvious and was almost taken for granted, having been previously elected to the Red chambers and served as minority leader.

Before that he had served at various leadership positions. He'd be bringing the leadership skills of former student leader, councilor, chairman, governor, and Minister for Nigeria Delta.

In his acceptance speech, he left no one in doubt that about his inclusive leadership style. His loyalty to the President was equally made known.

Some of the burning issues Akpabio-led National Assembly urgently have to tackle through legislation include security, EFCC, economy etc. He acknowledged that the economy requires 'renewal and revitalization'.

He needs to assure Nigerians that he would not repeat the negative version of the erstlwhile  Ahmad Lawan-led 9th senate.

Having yearned for good and development-oriented leadership since the return of civil rule in 1999, Nigerians have high leadership expectations from the 10th National Assembly.

Ikechukwu Odoemelam Esq                               IKECHUKWU O. ODOEMELAM & CO

Legal Practitioners of the Supreme Court of Nigeria 
Corporate Attorneys/Consultants 
DIRECTORS: Duties & Enforcement http://www.amazon.com/dp/B005783S6S
MEETINGS: Dynamics and Legality - http://www.amazon.com/dp/B005MKCESY

Monday, June 5, 2023

FUEL CRISIS: WHICH WAY NIGERIA?

#corporateleaders
FUEL CRISIS: WHICH WAY NIGERIA?

On the one hand Nigeria's energy policy requires government to ensure access to energy and it's supply, on the other hand it calls govt to use energy to develop the economy.  See National Energy Requirements Responsibility Act.

The compliance guidelines on Petroleum Industry Act 2021 reveal new legal and governance changes in oil and gas industry, such that makes it difficult for decisions to be taken without consultation with stakeholders.

Yet government is expected to implement the provisions of the Act so as to transform the industry and enable complete deregulated upstream and downstream sectors.

NNPC NEW Private Company was  unveiled on 19th July, 2022 by PMB, amidst incomniums poured on the expectations of the 'new company '. One such expectation is deregularizatioin.

Therefore when the President declared 'fuel subsidy gone', it was in the direction of deregularizatioin.  Hoarding and price hikes had sent pandamonium across the country.  Consequently NLC had to declare nationwide strike to protest the fuel hike.

Like economists would say buyers and sellers commenced the new regime with abnormal profits which is only ephemeral.

The next level would be supply of fuel from any available source provided it makes economic sense. Then in the interim with abundant supply the abnormal profits would disappeared. Normal and stable price would be established by the price system..

The damage (both political and economic) would have been done before sanity returns.

Ikechukwu Odoemelam Esq 
IKECHUKWU O. ODOEMELAM & CO
Legal Practitioners of the
Supreme Court of Nigeria