Connect with us

News

Buhari Spends N10trn In War Against Boko Haram, Bandits, BudgIT Alerts

Published

on

Amid flagrant disregard for accountability and transparency, President Muhammadu Buhari has spent, at least, N10trillion in his unsuccessful campaign against Boko Haram insurgency and banditry, says BudgIT.
Similarly, despite the administration’s unrestrained spending spree, federal agencies have also been accused of using “security votes” to siphon public treasury.
The governance body, therefore, called for a probe of Buhari’s unaudited humongous military spending since he assumed office in 2015.
Touted as ‘Mr Integrity,’ Buhari’s regime is characterised by nepotism, corruption, and ineptitude.
In a presentation at a virtual webinar to mark the 2021 World Press Freedom Day organised by the US Mission in Nigeria, last Monday, BudgIT, a civic-tech non-profit organisation, said its analysis exposed “over 316 capital projects worth N39.5billion, among other loopholes for corruption.”
It disclosed that N1.9trillion was allocated for the security sector in the 2021 budget, a 14 per cent increase from N1.78trillion allocated in 2020.
Despite the increase in the funds allocated and Buhari’s promises to crush insurgents, the country continues to experience wanton killings and kidnapping at the hands of Boko Haram, bandits, and killer herdsmen.
BudgIT revealed that other non-security related agencies now receive allocations for “security votes”, describing the spending as “an opaque feature of the Nigerian security ecosystem devoid of accountability.”
In the 2021 budget, a total of 117 federal agencies received allocations for “security votes” worth N24.3billion, despite many of the agencies already having allocations for “security charges” to cover each agency’s security needs.
BudgIT indicated that there had been thefts in the allocations provided to other sectors.
“Our investigations into the 2021 budget revealed, at least, 316 duplicated capital projects worth N39.5billion, with 115 of those duplicate projects occurring in the Ministry of Health,” the civic organisation pointed out.
It described the loopholes as disturbing “considering the health infrastructure deficit and the raging Covid-19 pandemic affecting Nigeria.”
Citing the National Agriculture Seed Council as an instance, BudgIT indicated that there had been allocations for projects left unexecuted.
“Even worse, agencies now receive allocations for capital projects they cannot execute. For example, the National Agriculture Seed Council has an allocation for N400million to construct solar street lights across all six geopolitical zones,” BudgIT explained.
It added, “The Federal College of Forestry in Ibadan in Oyo State got N50million for the construction of street lights in Edo State. These are aberrations that need to be corrected.”
Explaining that “Nigeria is already haunted by a staggering N3.31tillion debt servicing burden, which will wipe out nearly 41.63 per cent of the projected N7.99trillion 2021 revenue,” BudgIT advised the Federal Government to maximise the funds left by blocking the leakages.
It, however, pointed out that the government could not fulfil its promise of curbing corruption and grand theft with the budget riddled with loopholes.
“Virement provided in the Fiscal Responsibility Act 2007, or the Opportunity for Corrigenda recently provided in Section 16 of the 2021 Appropriation Act Implementation Guidelines published by the Federal Ministry of Finance, Budget, and Planning in March, 2021, are handy starting tools the government can immediately use in plugging loopholes,” BudgIT added.
Commenting on the report, Chief Executive Officer, BudgIT, Gabriel Okeowo, enjoined the Federal Government to urgently block all loopholes in the budget creation and implementation process, some of which are highlighted in the recently released publication.
“Nigeria is already haunted by a staggering N3.31trillion debt servicing burden which will wipe out nearly 41.63% of the projected N7.99trillion 2021 revenue. The Federal Government can maximise the little public funds left by blocking the leakages BudgIT has identified”, Okeowo added.

Continue Reading

News

FG Targets Production Of Locally Made Vehicles By Dec

Published

on

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.”

Continue Reading

News

Waive Tax On Electronic Imports, Women Engineers Appeal To Tinubu

Published

on

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.”

Continue Reading

News

Pan-Igbo Group Hails Dangote Group For Reducing Diesel Price

Published

on

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.

Continue Reading

Trending