Workers To Get Gratuity Three months After Retirement Soon-Ambode

The Lagos State Government is to introduce an efficient pension scheme for its workforce, an official said on Sunday.

Under the new regime, retirees will be paid their gratuity (lump sum) within three months after retirement.

The Director-General, Lagos State Pension Commission (LASPEC), Mrs Folashade Onanuga, told the News Agency of Nigeria (NAN) that the administration would soon unveil the new regime.

“Gov. Akinwunmi Ambode is working towards a three-month gratuity collection regime.

“Our amiable governor is working towards a regime that all pensioners will be able to access their gratuities within three months after retirement,” she said.

Onanuga also said that the governor was committed to the welfare of retirees as he had cleared the backlog of pensions.

She said : “Gov. Ambode is fully committed to retirees’ welfare as he is working towards clearing pension backlog the administration inherited under the old pension scheme known as Defined Benefit Scheme (DBS) before the Contributory Pension Scheme (CPS) was introduced in 2004.

“He has cleared the pension backlog up till 2015.

“About N37 billion has been released by Gov. Ambode for 9, 045 retirees since he assumed office.

The director-general, however, has advised retiring workers in the employ of the state government to study the two options available to them at retirement carefully before taking decisions.

According to her, the two options are Programmed Withdrawal and Annuity.

“The retirement options should be studied carefully before signing any deal with Pension Fund Administrators (PFAs).’’

Onanuga, who described some PFAs as hookwinkers, said they had been deceiving retiring employees into taking wrong decision for their own selfish reasons.

“There are still pension `fraudsters’ parading themselves as PFAs and the Lagos State Government will put concrete measures in place to ensure that its retirees do not fall victims.

“It is important to note that pension fraudsters are still out there, retirees must be vigilant and courageous not to sign negative deals; be wise,’’ Onanuga warned.

According to her, the commission in order to guide prospective retirees in the state public service between July and December also held a seminar on retirement benefits and documentation on June 8.

“The commission ensured that the 1,200 workers slated for retirement between July and December participated.

“The prospective retirees were equipped with retirement features and healthy lifestyles in retirement among others.”

Onanuga emphasised that it was the responsibility of the prospective retirees to study and master the features.

She said, for instance, a retiring employee ought to have signed up a PFA and his or her monthly contributions remitted into his or her Retirement Saving Account (RSA).

“Lagos State Government approved 13 PFAs for its workers, among them are AIICO Pension Managers, ARM Pensions, Leadway Pensure PFA and Nigerian Life and Provident Company (NLPC).’’

ORIGINAL SOURCE:NAN

Dangote To Boost Nigeria’s Power Generation by 12,000mw

The Dangote Group’s sub-sea pipeline infrastructure is expected to augment the natural domestic gas supply and add an estimated 12,000 Mega Watts (MW) to Nigeria’s power generation capacity.  Dangote also has plans to construct a 570 MW power plant within refinery complex.

The 12,000mw, which is being expected from the Dangote subsea pipeline is far more than the average of 2,812mw, which is presently being supplied to power plants.

The subsea pipelines are expected to create a corridor for evacuation of trapped from offshore platforms in Nigeria to allow their monetization.

Most of the associated gases produced offshore in Nigeria are currently being re-injected or flared. Hence the Dangote strategy is to serve as a transporter only transporter and processor, or buyer for producers of the gases.

Speaking at this year’s Ghanaian International Petroleum conference (Ghipcon 2018) which held in Accra, Ghana, the Technical Adviser to the President of Dangote Group on Refinery and Petrochemical matters, who led the Dangote Refinery team to the Conference, Engr. Babajide Soyode, noted that Alhaji Aliko Dangote will always do his best in whatever sector of the economy he ventures into, and that is why this refinery will be completed and meet the needs of Nigeria, West Africa and the entire African continent.

He went further to state that the Nigerian government has been supportive of the refinery citing the visit of Nigerian Minister of State for Petroleum Resources, Mr. Ibe Kachikwu to the site of the Refinery during which he said the government would support efforts toward its completion.

“I have made very firm commitment to Nigerians that I must stop the importation of petroleum products by 2019 and I am going to keep to it.”, Kachikwu was quoted to have said.

Meanwhile, ahead of the completion of the Dangote Oil Refinery, petroleum importing African nations and Bulk Oil Distributors based in Ghana have expressed eagerness to patronize the Nigerian Refinery when production starts.

The oil buyers said arrangements have been put in place to import petroleum products from the world’s largest single-train refinery, situated, Lekki, Lagos state owned by the foremost industrialist.

Hints of eager expectation and hopes on the Dangote Refinery were revealed at  Participants at the international Conference as well as oil distributors and marketers from various countries were eager to know how they could key in for supplies from the 650,000 barrel per day refinery, that is preparing to take the continent by storm.

The Ghananian government expressed the view that dealing with Dangote refinery for petroleum import would be a better business for African nations than depending on the international market for the supply of refined petroleum products, “we will rather purchase from the Dangote Refinery due to the proximity of the refinery to Ghana and other neighbours.

President of Ghana, Nana Akufo-Addo, who was represented by Vice-President Alhaji Mahamud Bawumia, said African nations are anxiously waiting for Dangote Refinery.

During their visit to the Dangote oil exhibition stand, the Ghanaian Vice-President and the Minister of Energy, Boakye Agyarko, were amazed at the size of the project and expressed satisfaction with the pace of work being done at the refinery.

ORIGINAL SOURCE:THE GUARDIAN