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NASS Passes N7.44trn 2017 Budget

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The National Assembly, yesterday, passed the long awaited 2017 Appropriation Bill of N7.441trillion as the lawmakers increased the general budget figure by N3billion.
The National Assembly has also released a breakdown of its 2017 Budget of N125billion, with additional N10 billion to NASS’ 2016 Budget of N115billion.
President Muhammadu Buhari had in December, 2016 presented a budget of N7.289 trillion to the National Assembly but the lawmakers increased the figures to N7.441trillion, indicating  about N143billion increase.
Details of the N143 billion  increase in the budget figures shows that the National Assembly increased the budgetary allocation of the Amnesty programme (Niger Delta Development Commission)  by N10billion while the lawmakers  also hiked its own budget by N10billion.
The National Assembly also through the additional allocations in the budget initiated the commencement and completion of the second Abuja airport runway which was not initially in the budget at the cost N10billion, while it also enlarged the budget for road project construction across the country by N25billion.
The budget figures for the National Youth Service Corps (NYSC) also received more funds as presented by the executive while the lawmakers in this budget initiated the renovation of the Abeokuta Airport construction of the Warri-Aladja railway line, among others.
Details of the budget indicates that out of the N7.441,175,486,758 trillion passed by the National Assembly, N2,177,866,775,867 trillion is for capital projects, while N434,412,950,249 billion is for statutory transfer.
Also, the sum of N1,841,345,727,206 trillion is for debt services, while N177,460,296,707 billion is for sinking fund, just as N2.987,550,033,436 is for recurrent (non debt) expenditure.
The statutory transfer is broken down in the budget by which N100 billion is allocated to the National Judicial Council (NJC), while N64,023,554,666 billion is allocated to the Niger Delta Development Commission (NDDC).
Similarly, N95,189,395,583 billion was allocated to the Universal Basic Education Commission (UBEC), while National Assembly allocated to itself the sum of N125 billion, even as the public complaint commission got N4 billion.
While the Independent National Electoral Commission (INEC) got N45billion, the National Human Rights Commission got N1,2000,000,000 billion.
The lawmakers budgeted N1,488,002,436,547 trillion is for domestic debt services, while N175,882,993,952 is for foreign debt services, making a total of N1,663,885,430,499.
On the personnel aspect of the recurrent expenditure, the Office of the  Auditor General for the Federation was allocated N 2,693,253,521 billion, while Ministry of Budget and National Planning  was allocated N8,843,198,998 billion, and Federal Ministry of Agriculture and Rural Development was allocated N31,752,144,051 billion for personnel expenditure.
Also, the  Ministry of Defence  was allocated N330,543,309,223 billion, while the  Federal Ministry of Education  got an allocation  of N398,686,819,418 billion, even as the Federal Ministry of Environment  was allocated N16,108,983,841billion for personnel expenditure.
The  Federal Ministry of Finance  was allocated N9,521,555,393 billion, while the  Ministry of Foreign Affairs  was allocated N56,424,094,037billion, and the  Federal Ministry of Health was allocated N252,854,396,662billion, and the  Federal Ministry of Industry, Trade and Investment  got N10,797,165,779 billion for personnel expenditure.
Also, the Federal Ministry of Information and Culture  was allocated N40,821,093,321billion, while  Federal Ministry of Interior  was allocated N472,597,817,561billion, and the  Federal Ministry of Justice  got N21,038,344,711billion, even as the  Federal Ministry of Labour and Employment  got N8,626,186,611billion for personnel expenditure.
The  Federal Ministry of Mines and Steel Development  got N10,385,055,182 billion,  Federal Ministry of Niger Delta  got N1,764,382,365 billion,  Federal Ministry of Petroleum Resources  got N63,222,101,051billion,  Federal Ministry of Science and Technology  got N27,785,074,208 billion, the  Federal Ministry of Transportation  got N14,810,103,581billion for personnel expenditure.
In the same vein, the  Federal Ministry of Water Resources  was allocated N7,301,176,944 billion, while the Federal Ministry of Women Affairs  was allocated N1,466,534,201billion, and the  Federal Ministry of Power, Works and Housing  got N32,821,929,055billion, and the
Federal Ministry of Youth and Sports Development  got N89,316,015,167billion for personnel expenditure.
While the  Fiscal Responsibility Commission  was allocated N332,848,038billion, the  Independent Corrupt Practices and Related Offences Commission (ICPC)  got N5,159,640,131billion, and the  Infrastructure Concessionary and Regulatory Commission (ICRC)  got N884,624,464billion, and the Federal Ministry of Communications Technology got N11,192,782,734billion, just as the National Salaries, Income and Wages Commission was allocated N631,503,868 billion for personnel expenditure.
Also, the  Office of the National Security Adviser  got N76,281,025,653billion, while the  Office of the Head of the Civil Service of the Federation  was allocated N6,652,280,969billion, and the State House was allocated N22,947,666,215 and the office of the  Secretary to the Government of the Federation (SGF)  got N51,933,366,906billion for personnel expenditure.
In the Capital Supplementation, a total Allocation of N310,037,229,460 billion was approved, of which the GIFMIS/IPPIS Capital  budget is N5billion, while OSSAP- SDGs (Special Projects)  got N9billion, and  OSSAP-SDGs (Conditional Grants)  is N10billion, just as  OSSAP-SDGs (Social Safety Nets)  is N15,902,000,000 billion,  Capital Exigencies/Adjustment to Capital Cost  N5billion.
The National Development Plans (Ministry of Budget and National Planning)N 1,000,000,000,  Head of Service (Federal Government Staff Housing Loans Board)   1,000,000,000,  Zonal Intervention Projects N100,000,000,000,  North-East Intervention Fund N45,000,000,000,  Counterpart Funding Including Global Fund/Health 3,500,000,000.
Also, the  Payment of Local Contractors’ Debts/Other Liabilities had  N20,000,000,000,  Galaxy Backbone  had N4,000,000,000  Contingency (Capital) N10,000,000,000,  Recapitalisation of Development Finance Institutions N15,000,000,000.
Subscriptions to Shares in International Organisations N28,635,229,460,  SDG: Special Intervention Project N1 12,000,000,000,  SDG: Special Intervention Project N2 8,000,000,000,  Facilities and Technical Services N14,500,000,000.
Implementation of the Economic Recovery and Growth Plan (ERGP) and Establishment of Delivery Unit at the Presidency  hot N2,500,000,000, while the total Capital Supplementation  is N310,037,229,460, and the   Capital in FGN Special Intervention Programme  is N150,000,000,000.
Just before the passage of the bill, the Lawmakers commended the committee and the entire red chamber for coming up with a detailed Appropriation Bill; the first of it’s kind since 1999.
Speaking earlier on the generality of the Budget, Senate Minority leader Godswill Akpabio commended the senate for doing a thorough job.

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FG Targets Production Of Locally Made Vehicles By Dec

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The Minister of Industry, Trade and Investment, Dr Doris Uzoka-Anite, has affirmed that Nigeria now has the capacity and materials to manufacture Made-In-Nigeria cars for local use and export.
With the enabling environment being provided by the government, she said manufacturers should be held responsible if the cars are not rolling out by December 2024.
Currently, Nigeria produces less than 10 per cent of the vehicles used in the country.
Last year, Nigeria’s vehicle assembling industry, estimated to be worth around N302billion, tanked to a new low due to increasing production costs and weakened demand for locally assembled automobiles.
According to the Manufacturers CEOs Confidence Index, activities of motor vehicles and miscellaneous assembly deteriorated further below the benchmark (50 points) from 48.6 to 46.7 points.
But speaking at the Automotive Component Manufacturers meeting in Abuja, she noted that the automobile industry is faced with both challenges and opportunities.
A statement issued last Friday by the Director of Information and Public Relations, Adebayo Thomas, said, “In a significant move aimed at fostering sustainable growth and development in Nigeria’s automobile industry, the Federal Government has issued a clarion call to all stakeholders, including manufacturers, dealers, regulatory bodies, and other players in the automobile ecosystem.
“The call comes as part of a broader strategy to enhance the sector’s contribution to the nation’s economy.”
Encouraging the stakeholders to key into the Nigerian Automotive Development Policy, the Minister said, “As far as we are concerned, the auto industry is now set to go.
“We are counting on all stakeholders to make that happen. If we do not produce made-in-Nigeria cars before the end of this year (December), it will be your fault, because I am sitting down here giving you all the assurances that this administration has created the enabling environment to make sure that the auto policy kicks off.”
Anite emphasised the need for collaboration among manufacturers, dealers, regulatory bodies, and other players in the automobile ecosystem, saying by working together, they can address challenges, streamline processes, and drive innovation.
She also urged stakeholders to maintain high-quality standards across the board, including vehicle manufacturing, safety features, emissions control, and after-sales services.
Stringent adherence to quality, she said, will boost consumer confidence and attract investment.
The minister assured all that the government would continue to encourage increased investment in research and development, adding that, innovations in electric vehicles, fuel efficiency, and alternative energy sources are critical for long-term sustainability.
On local content, she also emphasised the importance of promoting local content by sourcing materials and components locally.
By doing this, she said, the sector can create jobs, reduce import dependency, and contribute to economic diversification
In his introductory comments, the ministry’s Permanent Secretary, Nura Rimi, emphasised the significance of team action and shared vision as outlined in the Nigerian Automotive Development Policy.
He also urged stakeholders that the country “will overcome obstacles and unleash the full potential of Nigeria’s automotive component sector.”
He encouraged NADDC and other stakeholders to use the chance to form alliances, explore new areas of collaboration, and devise ways to catapult the automotive components manufacturing industry to new heights of success.
The statement added, “The government’s charge underscores the pivotal role stakeholders play in shaping its trajectory. Their commitment to sustainable practices will drive Nigeria’s automotive sector towards a brighter and more prosperous future.
“Environmental Responsibility: Stakeholders are reminded of their environmental responsibilities. Sustainable practices, recycling, and eco-friendly manufacturing processes are essential for a greener future.”

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Waive Tax On Electronic Imports, Women Engineers Appeal To Tinubu

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The Association of Professional Women Engineers of Nigeria (APWEN), Lagos Chapter, has called on President Bola Tinubu to exempt the importation of electronic components from taxation for inventive engineers.
Chairman of APWEN, Ms Atinuke Owolabi, said this a in statement yesterday in Lagos, in commenration of the 2024 World Creativity and Innovation Day, with the theme: “Step Out and Innovate”.
The Tide source reports that World Creativity and Innovation Day is a global UN Day, celebrated on April 21, to raise awareness about the importance of creativity and innovation in problem solving.
This is with respect to advancing the United Nations’ sustainable development goals, also known as the global goal.
Owolabi explained that such a measure would significantly enhance technological progress, support local innovators, and elevate Nigeria as a leading hub for innovation globally.
She stated that in a world marked by dynamic challenges and unprecedented opportunities, creativity and innovation stand as the driving forces behind progress and transformation.
According to her, women engineers recognise the critical role that innovation plays in shaping our societies and driving sustainable development.
”On this occasion, we affirm our commitment to fostering a culture of creativity and innovation within our organisation and the broader engineering community.
”Together, let us step out, innovate, and inspire the next generation of women engineers to reach even greater heights of achievement and impact.
”We believe that by stepping out of our comfort zones and embracing new ideas, technologies, and approaches, we can unlock innovative solutions to the complex challenges facing our world today,” she said.
According to her, the theme: ‘step out and innovate’, serves as a call to action for women engineers everywhere to break barriers, challenge conventions.
She noted that it would also pioneer groundbreaking solutions that would propel them toward a brighter and more sustainable future.
Owolabi disclosed that in celebration of the World Creativity Day, APWEN Lagos had inaugurated an artificial intelligence club tailored for female engineering students and young engineers.
She said that the proactive initiative aimed to inspire and equip young engineers with cutting-edge technological insights.
Th chairman said, “Additionally, we already have a 200-capacity hall to set up a resource, technology, and innovation hub to empower women and girls in engineering.
”This endeavour serves as a catalyst for encouraging aspiring female engineers to embrace innovation and stay abreast of emerging trends in the field.
”APWEN Lagos stands united in its dedication to promoting diversity, inclusivity, and excellence in engineering.
“We encourage all female engineers to seize this opportunity to unleash their creativity, explore new frontiers, and make an indelible mark on the world.”

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Pan-Igbo Group Hails Dangote Group For Reducing Diesel Price

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A pan-Igbo group, Ndigbo Unity Forum (NUF), has commended the Chairman of the Dangote Group, Alhaji Aliko Dangote, and his management for reducing the price of diesel from N1,600 to N,1000 per litre.
The Tide’s source reports that diesel is the major fuel used by heavy duty vehicles and generating sets to transport goods as well as run industries across the country.
The President of NUF, Mr Augustine Chukwudum, told The Tide’s source in Enugu, yesterday, that Dangote’s timely response to suffering masses of Nigerians, going through hell to get a meal a day, “is highly commendable”.
According to Chukwudum, Nigerians need to appreciate the patriotism of Dangote since what he has done will go a long way in reducing prices of goods, especially food stuff which has gone out of the reach of the poor.
He called on Nigerians, who wish and pray always for the betterment of the country, to appreciate and thank God for answering their prayer through Dangote’s move.
“It is clear that if Dangote Refinery starts fully and gets all the crude oil needed from Nigeria, the prices of petrol, kerosene and diesel will further reduce.
“We commend President Bola Tinubu for being a listening President and supporting the Dangote Group on our crude oil needs.
“We appeal to Tinubu to encourage Dangote by providing the company with crude oil at a reduced rate as we have been demanding,” he said.
Chukwudum said that this move and subsequent further reduction, would bring industries in comatose back to life, jobs created for unemployed youths and reduction in crime as well.
“We call on governors of oil-producing Anambra, Imo and Abia States to bring investors, who shall build refineries in each of the states to refine thousands of barrels of crude in commercial quantities,” he said.

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