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Ondo’s Akinterinwa emerges chairman forum of commissioners of finance

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Ondo State commissioner of finance, Adewale Akinterinwa, gas emerged as the chairman of the Forum of Commissioners of Finance in Nigeria.

The forum, consisting of the 36 states finance commissioners in Nigeria, picked Akinterinwa as chairman as a result of his sterling perfomance in managing the economy of Ondo State.

This is coming barely few weeks after the presitigious Yoruba Study Group honored Akinterinwa with an award for his excellent handling of the finances of the sunshine state.

These are just a few of the many awards that have come his way in recent times.

Akinterinwa, like the proverbial gold fish that he is, has become one of the most-sought after finance expert in the country. His mastery of matters of finance has made him the star boy among his peers.

Nowhere is his uncommon knowledge of finance more pronounced and appreciated than the places he has worked, both in private and public practices. His good deeds and excellent track records have become a badge of honour which he wears with great pride.

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His sure-footed steps in taking bold decisions sets him apart from the crowd. He recently described himself thus:
“I am a corporate finance professional, with strong Managerial, Strategy, Finance and Accounting background with more than 25 years of excellent training, strategic leadership, mentoring and entrepreneurial prowess in diverse areas of investment banking, project finance and management, venture capital, real estate development, finance and management consulting and public sector engagement.”

Akinterinwa’s hard work and understanding of the biblical qoute, ‘seest thou a man diligent in his business? He shall stand before kings; he shall not stand before mean men’, has made him one of the most-sought after game changer by state governments and top corporate entities across the country and abroad.

Young and energetic Akinterinwa was one of the beautiful brains behind the huge turn around and success story of the Lagos real estate industry, when between 1999 and 2002, as a special assistant on investment and strategy to the CEO, he worked with his team to turn the wobbling corporation into a viable, profitable, self-financing and self-sustaining entity,

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In the private sector, he founded Gideon Trust Investment Limited in 2003. As executivvice chairman/CEO, his roles included supervision of the company in conjunction with the board. He was also responsible for the development, creation, establishment and implementation of business generation strategies for the group, spanning various sectors of the economy, including lease finance, venture capital, capital market, real sector, real estate development and management consulting.

Between 2010 and 2016, Akinterinwa was chair of Gideon Trust Micro-Finance Bank Ltd. His job included, but not limited to development, creation, establishment and implementation of business generation strategies for the bank. This spanned various sectors of the economy including Lease Finance, Venture Capital, Capital Market, Real Sector.

He would later be tapped by his home state of Ondo to help replicate his Lagos success story as the state commissioner for finance. Though his stint at the ministry was shortlived, but he had put in place lasting structures that have helped put the state better standing for future challenges.

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Between 2015 and 2017, he veered into the energy sector as a board member/non-executive director of Emergent Power and Energy Dev. Company Ltd. He was in charge of giving the company the much-desired strategic direction and concept management in conjunction with other board members.

Highly cerebral and cosmopolitan, Akinterinwa could not be drawn away from his first love – accountancy- as he was again tapped by Arakunrin Oluwarotimi Akeredolu in 2017, to help manage the finances of the state and put it in better shape after a perilous past.

Expectedly, Ondo State is reaping the decision of the governor to tap one of the best brains from the state to manage it’s finances.

From 2017 when he assumed office as the commissioner for finance, the state has been on a steady rise with disciplined fiscal measures.

Now the outside world is aware of the positive impact of the suave man and has decided to honour him.

 

SEGUN AJIBOYE

 

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FG extends FEC meeting to Tuesday, says ‘far-reaching decisions will be made’

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The Federal Government has extended the federal executive council (FEC) meeting to Tuesday.

 

Mohammed Idris, minister of information and culture, announced the extension of the FEC meeting on Monday while speaking with State House correspondents.

 

The FEC meeting was held on Monday for the first time since March.

 

Idris said the FEC meeting will continue on Tuesday at 12pm.

“The council meeting will continue tomorrow, therefore, there will be no press briefing today,” the minister said.

 

“A lot of far-reaching decisions are being taken and the conclusions will be made available to you tomorrow. FEC will continue at 12 noon tomorrow.”

 

During the FEC meeting, President Bola Tinubu swore in two additional commissioners of the National Population Commission (NPC).

The two commissioners are Fasuwa Johnson from Ogun state, and Amidu Raheem from Osun state.

 

Earlier, the cabinet observed a minute’s silence in honour of the late Fabian Osuji, a former minister of education; and Ogbonnaya Onu, a former minister of science and technology.

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Electricity tariff hike: We’ll go back to drawing board, FG tells labour

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The Federal Government has said it will go back to the drawing board with relevant stakeholders to address the issue of the electricity tariff hike.

Mamudah Mamman, permanent secretary at the federal ministry of power, spoke in Abuja on Monday while addressing members of the Nigeria Labour Congress (NLC).

Members of organised labour were out to picket offices of the Nigerian Electricity Regulatory Commission (NERC), ministry of power and the Abuja Electricity Distribution Company (AEDC) in Abuja over the tariff hike.

 

The NERC on April 3 approved an increase in the electricity tariff for elite customers.

 

Organised labour is calling for a reversal of the increase and a return to the negotiating table.

 

Mamman said members of the national assembly have told the ministry to do a wide consultation with relevant stakeholders on the matter.

 

The permanent secretary assured that the ministry would sit down next week with the leadership of the NLC to see how the issues could be resolved.

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“The national assembly had written the ministry to go and do a wide consultation with all the relevant stakeholders,” he said.

 

“What the ministry does is give policy directions. We realise that the policy direction given is pushing Nigerians to the corner, and we need to do things differently.

 

“What we need to do is for all of us to come to the table, look at it, and decide what is the best way. I don’t have the power to reverse the tariff, so we will go back to the drawing board with the regulator and NLC.

 

“I’m going to take your message to the relevant authority, and we will look at it and inform you.”

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Reverse electricity tariff — we won’t accept band classification, Ajaero tells NERC

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The president of the Nigeria Labour Congress (NLC), Joe Ajaero, says the Nigerian Electricity Regulatory Commission (NERC) should reverse the electricity tariff.

 

Ajaero spoke on Monday when members of the labour body picketed the headquarters of the NERC in Abuja over the increase in electricity tariff.

 

The NERC on April 3 approved an increase in the electricity tariff for elite customers.

 

Ajaero said the protest was due to NERC’s unresponsiveness to the multiple letters sent by the NLC.

 

He added that the increase in tariff was arbitrary, noting that NERC did not consult relevant stakeholders before taking the decision.

 

The NLC president argued that Nigeria has 4,000 megawatts of electricity for over 200 million people, as against the global index of 1,000 megawatts for one million citizens.

 

“We are here on a peaceful protest having written so many letters to NERC that they cannot increase tariff without meeting with Nigerians, that the process of adjusting tariffs in every tariff methodology requires that they meet with all stakeholders, including labour, that we don’t know where this tarrif is coming from,” Ajaero said.

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“And that NERC is not oblivious to the fact that Nigeria is wallowing in power poverty, that while the whole world gave a global index of one million people for 1,000 megawatts, Nigeria has 4,000 megawatts for over 200 million people.

 

“What Nigeria is generating today is not enough for Lagos, and it is bad enough to say some Nigeria are better than others; some will get 20 hours, some will get two hours; even in South Africa, such has never happened.

 

“Use the same magic that you are using to give some Nigerians 20 hours to give everybody in Nigeria 20 hours. Nigerians are saying no to discriminatory power allocation.”

 

He noted that the Manbilla power plant in Plateau state can generate 3,600 megawatts of renewable hydropower but has remained underperforming 30 years after its inauguration.

 

Ajaero urged the federal government to put an end to all taxes that could further increase the burden on Nigerians.

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