The House Representatives Committee on Petroleum Resources (Training Fund) has lamented frequent capital flight in the country while calling for local human capacity to improved oil and gas as well as increase Gross Domestic, GDP, Products in Nigeria.
Chairman of the House Committee, Hon Thomas Ereyitomi who made the observation on Tuesday equally explained modalities to be adotoed to ensure that the Committee delivered on it mandates.
Speaking at the inaugural meeting, the lawmaker had also assured of the readiness of his panel to reposition the man-power development drive as well as economic growth and diversification to foster social development and global competitiveness in Nigeria.
He said: “This Committee is one of the important Committees of the House. Our task is enormous. Our appointment to this Committee is a demonstration of the seriousness the House leadership attaches to this committee.”
“To achieve these goals, I am pleased to present our Committee’s comprehensive work plan for the tenure ahead. This plan is designed to guide our efforts, focusing on the key areas that will enable us to fulfill our mandate effectively.
“I therefore call all distinguished members of this committee to bring to bear their experience/expertise in delivering our mandate'” he said.
He, however explained his committee mandate as outlined in the Standing Orders of the House adding that members must ensure they contribute effectively to ensure they deliver on their pivotal role of shaping the nation’s future.
The Chairman of the House Committee also used the opportunity to appreciate the Speaker Hon Tajudeen Abbas and the entire House leadership for the confidence reposed in them to pilot the affairs of the committee.
Some other lawmakers who spoke during the event noted that training is a very key aspect in the oil and gas industry, noting that training could help to improve the sector as it could have positive and ripple effect on other areas of the economy.
Reps express worry over “sophisticated” surge in financial crimes
The House of Representatives Committee on Financial Crimes has expressed worry over the surge in sophisticated financial crimes and the need to quickly arrest the development.
Rep. Ginger Obinna, Chairman of the committee , said this at the hearing of the defense of 2024 appropriation bill by the Economic and Financial Crimes Commission (EFCC) in Abuja on Tuesday.
“Financial crimes pose a significant threat to the stability and progress of any economy,” he said.
According to him, in recent years, our nation has witnessed a surge in sophisticated financial crimes that demand our immediate attention and robust defense mechanisms.
He said that from money laundering to cybercrime, the challenges remained multifaceted and ever-evolving, adding that it was the duty of the committee to stay ahead of these threats.
He said it was imperative to adapt its strategies and equip the relevant agencies adequately to counteract the forces that sought to undermine the economic well-being of our nation.
“The budget estimate before us today is not just a collection of numbers; it is a reflection of our commitment to creating an environment where our citizens can trust the financial institutions that drive our economy.
He said the committee pledged to provide the necessary resources to empower the EFCC to carry out their vital missions effectively.
The chairman of the commission, Ola Olukoyede, while speaking on the challenges posed by the 2023 capital project, said: “A few capital projects we are implementing in 2023 are not from the 2023 capital project but from the 2022 capital rollover.”
He said some EFCC offices were on rented land, adding that some of their landlords were not willing to sell.
Speaking on its plan to execute its budget, Olukayode said: “We are going to work in collaboration with the committee, and we are going to welcome oversight.”
He said if the EFCC had the opportunity, the 2024 budget would be implemented to the last, adding that they had slowed down the process of budget implementation because of funding. (NAN)
