Notable among the awardees are Ibe Kachikwu, Minister of State for Petroleum Resources; Babatunde Fashola, Minister of Power, Works and Housing; Kayode Fayemi, Minister of Solid Minerals; Adebayo Shittu, Minister of Communications and Audu Ogbeh, Minister of Agriculture and Rural Development. Kachikwu who was appointed as the Minister of State for Petroleum recorded landmark achievement in spare-heading major reforms in the oil and gas sector, by evolving innovative strategies and formulation of policies aimed at sanitizing the petroleum sector of the country and returning it to a profit-generating sector that would positively impact the economy of Nigeria. Since assumption of office, he has reduced the upstream contracting period from two and a half years to between 6 and 9 months.
He also ensured the quarterly publication of accounts. These have led to improved transparency in the sector. His transformations sustained the deregulation of the oil and gas industry for more private sector participation leading to the coming on board of the first private refinery in Nigeria. For the laudable achievements recorded in the solid mineral sector over the past two years, Kayode Fayemi, Minister of Solid Minerals was applauded for repositioning the Nigerian Mining sector to contribute optimally to the administration’s priority agendas of diversifying the country’s revenue base and creating jobs and economic opportunities for Nigerians.
Fayemi, the immediate past Governor of Ekiti State between 2010 – 2014, doubles as chairman of the governing board of the Nigeria Extractive Industries Transparency Initiative (NEITI).
Within the last two years, he has been able to reposition the sector for greater profitability through the introduction of some reforms and policies. He is being recognised today for overhauling the solid minerals sector with the active support of the permanent secretary of the ministry and for ensuring mining security while raising the perception of the sector positively. This has led to increased revenue which surged by 300percent and for increasing miners’ access to finance. For the revolution recorded in the country’s agricultural sector, Audu Innocent Ogbeh, Minister of Agriculture and Rural Development was applauded at the just concluded ‘Excellence in public service Award 2017.
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With the support of the Minister of State and permanent secretary, Ogbeh successfully launched the yam export program which will earn Nigeria about $6 billion. He introduced Agricultural Promotion Policy, Green Initiative Policy all of which have empowered over 800,000 rural farmers in Nigeria.
Babatunde Raji Fashola, Minister, Federal Minister of Power, Works and Housing
Fashola who was elected Governor of Lagos state for two terms from 2007 to 2015, has served both Lagos State Government and the Federal Government meritoriously in various capacities. Despite the limited resources deployed to the ministry, Fashola succeeded in mobilising contractors back to sites across the six geopolitical zones, paid contractors, rehabilitated power stations in Sokoto, Maiduguri, Okada, Alagbon, Damboa, Nasarawa, Gurara, Osogbo, Kashimbilla, Kumbotso, Ikot Ikpene while improving access to power for rural communities.
Enyinnaya Okechukwu Enelema, Minister of Industry, Trade and Investment oversees policy-making and implementation relating to the industrialization of the economy, development of small and medium-scale enterprises (SMEs), promotion of exports and foreign direct investment, and the expansion of trade. The overall objective of the ministry is to ensure that policies and actions lead to inclusive growth, wealth and job creation, poverty reduction and ensure enhanced service delivery in a manner that will stimulate the growth of the domestic economy for self-reliance and export. His vision is to work in partnership with all the relevant stakeholders – government, private sector, agencies; to boost Nigeria’s investment attractiveness.
His efforts have resulted in improved ease of doing business leading to more FDI while growing the contribution of the non-oil sector to the GDP and creating jobs. By the end of the third quarter of 2017, $6.85 billion had been brought into the country through capital importation, and that was 34 per cent higher than $5.12 billion capital imported into Nigeria throughout 2016. In the same vein, Godwin Emefiele, Governor, Central Bank of Nigeria (CBN) who was brought over 26 years experience in commercial banking was applauded for the successes recorded through the importers and exporters foreign exchange window (I & E) and Anchor Borrowers ‘Program (ABP).
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Within the short period, external trade worth over $20bn was executed through I & E window and a notable boost in rice production, employment generation was recorded while the official and parallel market exchange rates converged leading to price stability. Also enlisted among the awardees, Umaru Ibrahim, Managing Director/CEO of Nigeria Deposit Insurance Corporation (NDIC) who joined the Corporation in May 1989 as a Deputy Director rose through the ranks and was appointed Managing Director/Chief Executive Officer on the 8th of December, 2010. His reign is reputed for bringing down cases of fraud through insider sources, ensuring financial sector stability and prevented systemic breakdown within the nation’s financial system. The laudable feats recorded by Umaru Garba Danbatta Executive Vice Chairman & CEO, Nigerian Communications Commission (NCC) at the award night was applauded especially through the promotion of satellite communications services and networks as well as for enhancing the quality of management within the telecoms industry.
Before his appointment, Danbatta was the Vice President of the Digital Bridge Institute (DBI), International Centre for Advanced Communications Studies, which was established in the year 2004 by the Nigerian Communications Commission (NCC) to build capacity for the Nigerian/African telecom industry in the diverse areas of Information and Communication Technology (ICT). While at DBI he has developed expertise in the following major areas of ICT implementation, policy and regulation. Maikanti Baru, Group Managing Director of Nigerian National Petroleum Corporation (NNPC) before he was appointed the Minister, had served meritoriously in various capacities within the oil and gas industry.
Baru was the manager, National Engineering and Technical Company Limited (NETCO) from May to November 1991. He became the manager, operations of procurement management services (PROMAS) from 1991-1993 where he saved the corporation over $70 million in six months of operation.
Thereafter, he served in NAPIMS as the manager, gas department for four years and in 1997, he was appointed general manager, gas development Division and during his stewardship of the Joint Venture Gas Projects, they were able to save over $575 million. In July 1999, he was appointed as the executive director, operations of the Nigerian Gas Company, Warri where he was responsible for the smooth operations of all the facilities in the NGC ensuring uninterrupted gas supply to customers such as NEPA. He also handled the commercial and administrative aspects of the LNG Investment Businesses. He was also the NNPC’s Chief Technical Negotiator on the West African Gas Pipeline project and chaired the NNPC AntiCorruption Committee. On July 4th 2016, President Muhammad Buhari appointed him as the 17th Group Managing Director of the NNPC.
Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) was distinguished at the Award Night for increasing the number of insured farmers from 500,000 to 3.8 million by 2017; flag-off national tractor maintenance program while introducing FAM-SMART model. The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) is an agency that provides agribusiness investments credit risk guarantees to help drive economic development through agriculture and also help reduce credit risk in Agricultural lending.
Yemi Kale, Statistician-General of the Federation who was appointed in 2011, became the first chief executive of the NBS to be reappointed for a second term when his tenure was renewed by President Buhari in 2016. Kale as the CEO of NBS has introduced several new reports through which he expanded the coverage of the economy while releasing macroeconomic data timely. These efforts have made more macroeconomic data to be readily available thereby reducing information asymmetry.
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He is currently the chairman of the National Consultative Committee on Statistics (NCCS) and a member of the Economic Management Team (EMT) as well as the Central Bank of Nigeria’s Monetary Policy Committee. He recently served on the Presidential Standing Committee on Job Creation, National Steering Committee on 2nd Peer Review of Nigeria, as well as the Executive Committee of PARIS21 of the OECD. Kale is a fellow of the Royal Statistical Society (UK) and member of the World Economics Association, the Royal Economic Society (UK) and the Nigerian Statistical Association. He has written widely on fiscal and monetary policy, governance, finance and economic development in Africa.
Nigerian Ports Authority (NPA) also emerged as one of the public institutions which contributed immensely to the country’s economic development over the years.
Sharon Ikeazor, Executive Secretary of Pension Transitional Arrangement Directorate (PTAD), remains one of the most quintessential pension administrator produced in Nigeria to date.
With 30 years post-graduation experience as a solicitor, business development consultant, and project management expert, Ikeazor has helped in bringing succour to millions of Nigerian pensioners and Elderstatesmen who have been deprived of their emoluments over the years. Her particular experience and capabilities include business development for foreign multinationals, national and international government liaison, as well as contract development, contribute immensely towards achieving the feat.
Patience Oniha, Director-General of Debt Management Office (DMO) also recorded major achievement of hers during her eight years at the DMO was the introduction of Benchmark Bonds to develop the domestic bond market to improve liquidity and to create a sovereign yield curve which created opportunities for State Governments, Multilaterals and Corporates to raise long term funds. The purpose behind this drive was to create a debt capital market where the public and private sectors can access long term funds to finance Nigeria’s growth and development.
Oniha managed the successful issuance of Nigeria’s debut USD500 million Eurobond in January 2011. The debut Eurobond opened a new source of funding for the Federal Government and Corporates. In 2013, she also managed the issuance of the dual-tranche USD1 billion Eurobond which was subscribed to the tune of about 400%. Since her return to the DMO, Nigeria has issued its debut N100 billion Sovereign Sukuk as well as, the first 30-Year tenured Eurobond in the International Capital Market which represents the first by a sub-Saharan country other than South Africa and has established the basis for long term infrastructure funding.
Yewande Sadiku, Executive Secretary/CEO
Nigerian Investment Promotion Council (NIPC) who once served as the chairperson of the Rules and Regulations sub-Committee of SEC’s Capital Market Committee, will be remembered by Nigeria for the reforms initiated at NIPC, in active cooperation with other strategic ministries. The development, without doubt, saw Nigeria move on the global ranking of the Ease of Doing Business, from 169th to 145th recently.
Uche Orji, Managing Director/CEO Nigeria Sovereign Investment Authority (NSIA) brought a wealth of global experience in the financial services sector to his role as the pioneer Managing Director & Chief Executive Officer of the NSIA.
Orji who was appointed pioneer Managing Director and Chief Executive Officer of Nigeria Sovereign Investment Authority, in 2012, oversees the seed capital of $1billion of the NSIA. His appointment was renewed in 2017 for another five-year tenor by the President of the Federal Republic of Nigeria.
Orji’s visionary leadership inspired the significant strides recorded by the NSIA despite its short existence and nurtured it into one of Africa’s most respected sovereign wealth funds attracting over $350million in foreign direct investments over the last three years.
He oversaw NSIA’s investments in the key sector of the Nigerian Economy including agriculture, real estate, power/gas to power, healthcare and motorways. Aside from developing strategies which transitioned the NSIA into a vehicle for driving sustained economic development, Uche led the development of governance and accountability systems which contributed to the phenomenal rise of the NSIA’s global transparency ranking in less than two years after its founding.
Compiled by KEHINDE AKINTOLA
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