ENGINEERS FAROUK AHMED, GBENGA KOMOLAFE RESIGN, PRESIDENT TINUBU NOMINATES SUCCESSORS TO THE SENATE FOR APPROVAL. (PHOTO). #PRESS RELEASE.

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 STATEHOUSE PRESS RELEASE   ENGINEERS FAROUK AHMED, GBENGA KOMOLAFE RESIGN, PRESIDENT TINUBU NOMINATES SUCCESSORS TO THE SENATE FOR APPROVAL President Bola Ahmed Tinubu has asked the Senate to approve the nominations of two new chief executives for the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).   The requests followed the resignation of Engineer Farouk Ahmed of the NMDPRA and Gbenga Komolafe of the NUPRC. Both officials were appointed in 2021 by former President Buhari to lead the two regulatory agencies created by the Petroleum Industry Act (PIA).   To fill these positions, President Tinubu has written to the Senate, requesting expedited confirmation of Oritsemeyiwa Amanorisewo Eyesan as CEO of NUPRC and Engineer Saidu Aliyu Mohammed as CEO of NMDPRA.   The two nominees are seasoned professionals in the oil and gas industry.   Eyesan, a graduate of Economics f...
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OBASANJO'S SECOND TERM WAS NIGERIA’S BEST ECONOMICALLY- EL-RUFAI. (PHOTO).

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Obasanjo’s second term was Nigeria’s best economically – El-rufai

A former Governor of Kaduna State, Nasir el-Rufai, on Friday said the second term of former President Olusegun Obasanjo was the “most successful” in terms of economic growth, job creation, and inflation rate in Nigeria.

El-Rufai said this on Friday during a session at the Africa In the World conference in Stellenbosch, South Africa.

According to him, oil prices began to rise during this period but the Obasanjo government did not waste the windfall, adding that Nigeria’s fiscal health was at its best in 2007, such that when the global financial crisis took place in 2008, the country did not feel it.

“If you look at Nigeria’s economic trajectory, the most successful four to five-year period of economic growth, job creation, and reduced inflation was the period of the second term of President Obasanjo in 2003 to 2007, when for the first time, the country went back into proper integrated planning and we also got lucky,” he said.

“Nothing was felt in Nigeria because Nigeria had a big savings account,” he said.

He added that Nigeria had huge reserves then and that the government was able to absorb the shock without any internal problems.

 

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