Fidelity bank banner Bayelsa State banner
Pay foreign contractors in naira —Governor Ayade

By News Express on 22/04/2016

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 1,360


Cross River State Governor, Ben Ayade, has advocated for payment of contractual fees and charges to multi-national companies in local currency.

Governor Ben Ayade made the recommendation when he received the Chairman and other members of the Senate Committee on Petroleum Resources Upstream during a three-day workshop in Calabar, the state capital.

As part of effort grow the local economy, he said that it was by so doing that the emphasis on dollars would be less and the value for Naira better appreciated.

The Governor pointed out that the activities in the oil and gas sector in Nigeria, which allowed for the sale of crude oil in dollars while the dollar would not return to the Central Bank of Nigeria (CBN), was another issue that should be tackled under the Local Content Law.

While noting that Nigeria is blessed with abundant mineral deposits such as bitumen, gold, iron, among others, he stressed the need to convert these resources into foreign reserves in material terms and bring the Naira to increase its value.

Governor Ben Ayade urged the Federal Government to take a deliberate policy and ensure full implementation of the Local Content Act, to strengthen the Naira.

He also advised that all Liquefied Natural Gas shipment sales out of Nigeria be paid directly to the CBN.

In an earlier statement, the Chairman of the visiting committee, Senator Tayo Alasoadura, said that the choice of Calabar for the workshop was not misplaced.

According to the lawmaker, Cross River State has over the years distinguished itself as the preferred destination in Nigeria because of its ambiance and serenity.

(Channels TV)

•Photo shows Governor Ayade.

Source News Express

Posted 22/04/2016 1:43:11 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
Amosun calls for love at Christmas

Nigerian company among finalists for the Africa Finance...

Abducted journalist regains freedom

Prowling lion brutally shot dead after wandering outside...

Boko Haram: Court keeps Ndume waiting

Former Military Administrator, 8 others sworn-in as LG...

Convention: PDP rakes in N113m from sale of...

Cleric charges youth on savings culture

Israel bans 20 foreign NGOs

NiMet predicts thunderstorm, rains for Monday

Truecaller and Google partner to improve video calling...

Keshi not sacked; he’s still Eagles coach —Sports...

 

Latest News Nigerian rights group proposes agenda for permanent peace in the Middle East •Details of its “two-lands-in-one-state” solution Rescue team vows to find body of missing Army General 2019: Lagos APC ward chairmen endorse Sanwo-Olu No peace as long as any section of Nigeria is being treated as second class citizens — Turaki Widow bites 8-year old house help, lands in police net Why Gov. Yari cannot anoint a successor, By Ahmed A. Ahmed APC shifts presidential primary Ghana to deport 72 Nigerian ladies Day Delta Central stood still for Okowa, PDP LG Chairman escapes kidnap as bandits abduct 7 in Zamfara Osun election: APC blasts PDP for claiming victory 2019: Bauchi Govt. dismisses Pate’s claims, defends State APC’s adoption of Gov. MA Abubakar, President Buhari

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (396,773 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (376,870 views) Shameless Genevieve Nnaji exposes breasts in public (308,675 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (250,724 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (232,425 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (221,724 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (200,182 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (181,743 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (165,826 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (163,421 views) Lagos plane crash: Journalist releases victims’ names (158,218 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (146,952 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (63) Business & Economy (3,626) Business Verdict (52) Columnists (933) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (547) Features (653) Global Business Monitor (301) International (2,432) Interview (165) Live Commentary (28) Love Matters (144) News (39,097) Opinion (1,110) Pidgin (11) Politics (6,726) Religion (872) Sports (1,703) Stock Watch (34) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Anthony Joshua vs Alexander Povetkin: Highlights

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement