A House of Representatives panel has summoned the Minister of Finance, Kemi Adeosun, and the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, over the non-implementation of the Federal Government policy on legal metrology services in the upstream sector.

The Committee on Petroleum Resources (upstream), chaired by Rep Victor Nwokolo (PDP, Delta) also summoned the Director of the Department of Petroleum Resources (DPR), Mordecai Ladan.

The trio are to provide explanations to the controversies surrounding the collection of weight and measures charges from International Oil Companies (IOCs). They have been given April 24 to appear.

The lawmakers were angry that DPR director, Mordecai, did not deem it fit to appear before the panel, despite the fact that his agency is in the centre of the issues raised.

Thus, the panel turned down two representatives of the DPR from its hearing convened to investigate the matter.

Representative of Speaker Yakubu Dogara at the hearing, Chukwuka Onyeama, who is House Deputy Minority Leader, said: “I want to suggest that the committee shouldn’t take DPR. We always want people in the director’s level so that people won’t come and say they can’t answer certain questions.”

Also, Nwokolo said: “Ladan must be here in person to defend whatever it is. From the documents we have here, it’s not possible for us to conclude this hearing today without Ladan.”

Udoma tells London investors to invest in Nigeria

Minister of Budget and National Planning, Senator Udoma Udo Udoma has told investors that the best time to invest in Nigeria is now, given that the economic policy initiatives adopted by the Federal government is yielding positive results.

Senator Udoma stated this at the UK-Nigeria Trade and Investment Forum in London, a statement by the special adviser on media to the minister, Akpandem James said.

The minister who was speaking at the plenary session of the Forum said Nigeria’s outlook for 2018, and over the medium term, is positive as the country had since exited recession and the economy is steadily growing again.

He explained that as part of government efforts to transform the economy and deliver sustained, diversified and inclusive growth, the Economic Recovery and Growth Plan (ERGP) was put together and several initiatives in the Plan are being implemented to remove constraints to investments. Some of the initiatives include the Presidential Enabling Business Environment Council (PEBEC) and the Focus Labs.