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FG Targets N11trn Rev In 2013 …Sets Aside N950bn For Security

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The Coordinating Minister for the Economy, Dr Ngozi Okonjo-Iweala,has said that the gross federally collectible revenue in 2013 budget was projected at N11.34 trillion.

Okonjo-Iweala made this known at a press briefing on the breakdown of the 2013 Budget, yesterday in Abuja.

She said, “The gross federally collectible revenue is projected at N11.34 trillion, of which the total revenue available for the Federal Government’s budget is forecast at N4.1 trillion.”

This, she said, represented an increase of 15 per cent over the estimate for 2012.

According to the minister, the projection is based on oil production of 2.53 million barrels per day compared to 2.48 million barrels per day in 2012.

“Benchmark oil price of $79 per barrel, up from $72 per barrel in 2012, Projected real GDP growth rate of 6.5 per cent and average exchange rate of N160 per dollar,’’ she said.

The minister said that the non-oil sector was expected to sustain the 2013 budget.

She commended the Federal Inland Revenue Services for attaining 20 per cent growth in non-oil tax revenue between 2007 and 2012.

On the expenditure provision, she said that budget made provision for an aggregate expenditure of N4.987 trillion.

This she said represented a modest increase of 6.2 per cent over the N4.697 trillion appropriated in 2012.

“This is made up of N387.97 billion for statutory transfers; N591.76 billion for debt service; and N2.38 trillion for recurrent (non-debt) expenditure of which N1.717 trillion is the provision for personnel cost, while overhead cost is projected at N208.9 billion.

“A total of N1.62 trillion has been provisioned for capital expenditure,’’ she said.

The minister added that an additional N273.5 billion had been provisioned for the subsidy reinvestment (SURE-P) programme.

Okonjo-Iweala said that with the development, the fiscal deficit was projected to improve to about 1.85 per cent of GDP in the 2013 Budget when compared with the 2.85 per cent in 2012.

She said that N497 billion was marked out for critical infrastructure such as power, works, transport, and aviation.

The minister said that another N705 billion was set aside for human capital development under education, water, agriculture and health sector

“We also allocated over N950 billion for national security purposes, comprised of N320 billion for the police, and N364 billion for the Armed Forces, N115 billion for the Office of the NSA, and N154 billion for the Ministry of the Interior.

“For 2013, the SURE-P programme has a projected allocation of N180 billion, augmented by the 2012 unspent balances of N93.5 billion.

“This amount will be used to make further progress in the provision of social safety net schemes, maternal and child healthcare, youth development and vocational training for Nigerians,’’ she said.

Okonjo-Iweala said that the budget had key priorities, which included the reduction in cost of governance, and debt management.

Others are infrastructure investments, job creation and the development of the manufacturing sector.

She said that the recurrent spending in total expenditure had reduced from 74.4 per cent in 2011 to 67.5 per cent in 2013 while capital spending increased from 25.6 per cent in 2011 to 32.5 per cent in 2013.

The minister said that N100 billion was saved for 2013 budget from the implementation of IPPIS.

On debt management, she said that N75 billion of maturing debt obligation payment was made last week and N25 billion had been set aside in a sinking fund to be used for retirement of maturing debt obligations in the future.

The minister said that government had reduced annual domestic borrowing to finance the budget deficit from N852 billion in 2011, to N744 in 2012, and now to N577 billion in 2013.

She said, “we are also making concerted efforts to defray the debts of our foreign missions.

“We have made a provision of N13 billion in the 2013 budget to help clear accumulated debts as at the cut-off date of June 2012.”

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Victory Over Insurgency Certain, Tinubu Assures

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President Bola Tinubu has expressed confidence that the country would win the fight against insecurity.

The President gave the assurance at the Argungu International Fishing Festival in Argungu town, Kebbi State, on Saturday.

He noted that the relative peace currently being enjoyed in Kebbi and neighbouring states was the result of sustained investments in security intelligence, coordination among security agencies, and community engagement.

Tinubu assured farmers and fishermen of sustained federal support to guarantee food security and safety across the country.

“The peace we are witnessing today is not accidental. It is the outcome of deliberate and sustained efforts. I assure you that the fight against banditry, insurgency, and insecurity will be won.

“Our farmers, fishermen, traders, and families will go about their lawful activities without fear,” he assured.

The President commended the organisers of the festival for sustaining the cultural event for decades, noting that it had endured for 83 years despite social and security challenges.

Describing the Argungu festival as a powerful symbol of unity, resilience, and peaceful coexistence, Tinubu stated that it reflects the richness of the country’s culture and the opportunities to harness its natural and human resources for national growth.

He said, “Today, this festival stands as a powerful symbol of unity, resilience, and peaceful coexistence among our people.

“It reflects the richness of our culture, the strength of our traditions, and the opportunities inherent in harnessing our natural and human resources for national development.”

The President was received by a large crowd of residents, traditional rulers, fishermen, tourists, and government officials from across the country.

The President reaffirmed his administration’s commitment to youth and women empowerment, irrigation development, rural electrification, and agricultural productivity.

Earlier, the Kebbi State Governor, Nasir Idris, said his administration was determined to elevate the Argungu Fishing Festival to full international standards while pursuing aggressive development across critical sectors of the state.

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US Embassy, Lagos Consulate Close Today For President’s Day

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The United States Embassy in Abuja and the Consulate General in Lagos will be closed today, in observance of Presidents’ Day.

The mission made this known in a notice shared on its official X page, yesterday.

“The U.S. Embassy in Abuja and the Consulate General in Lagos will be closed on Monday, February 16, 2026, in observance of Presidents’ Day,” the post read.

According to the embassy, Presidents’ Day was originally established to honour the birthday of the former US President, George Washington, but has evolved into a day to celebrate all U.S. presidents and their leadership in shaping the country’s history.

The embassy noted that the holiday also recognises the influence of U.S. presidents on global affairs.

In a related message, the mission highlighted that Washington created the first “Badge of Military Merit,” which later became the Purple Heart. The medal still bears Washington’s image today.

Presidents’ Day is observed on the third Monday of February annually in the United States as a federal holiday.

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Guterres Backs Nigeria’s Bid For UN Security Council Seat …Hails Tinubu’s Reforms, Regional Security Role

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United Nations Secretary-General, António Guterres, has charged Nigeria with spearheading Africa’s quest for a restructured global order, describing the country as uniquely positioned to lead the continent toward superpower status.

Guterres, who backed Nigeria’s bid for the world body’s security council seat, also praised the economic reforms of the President Bola Tinubu-led administration as well as Nigeria’s leadership in stabilising the Sahel and ECOWAS regions, despite facing its own security challenges.

The UN scribe made the remarks last Friday night during a high-level bilateral meeting with Vice President Kashim Shettima on the sidelines of the 39th African Union (AU) Summit in Addis Ababa, Ethiopia.

Speaking during the meeting, Guterres said Nigeria’s large population, sustained democratic governance, vast natural and human resources, and longstanding commitment to multilateralism placed it in a unique position to lead Africa in the evolving global order.

“Given Nigeria’s demographic strength, democratic continuity and deep resource base, the country stands a real chance of leading Africa to becoming the next superpower in the evolving global architecture,” he said.

The UN Secretary-General and the vice president discussed key developments in Nigeria and the country’s expanding leadership role in promoting regional stability across West Africa and the Sahel.

Guterres commended the remarkable and outstanding reforms of the administration of President Tinubu, noting that Nigeria’s bold economic restructuring and security commitments have strengthened its continental standing.

The meeting focused on strengthening Nigeria–UN collaboration to advance global economic growth, peace and security, sustainable development, and a coordinated humanitarian response across Africa.

In his remarks, Shettima thanked the UN Secretary-General for his leadership in advancing global peace, noting that Africa has benefited immensely from his tenure, even as the United Nations undergoes internal restructuring.

“We remain committed to multilateralism and to deepening our partnerships with the United Nations and other global institutions,” the vice president said.

Shettima also reiterated Nigeria’s longstanding call for comprehensive reform of the United Nations system to reflect evolving global realities.

He emphasised that Africa must have stronger representation in global decision-making structures and declared that Nigeria deserves a permanent seat on the United Nations Security Council.

Both leaders pledged to deepen cooperation, with Guterres reaffirming the UN’s support for Nigeria’s reform agenda and its growing leadership role in advancing peace, security, and development across Africa.

 

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