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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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Tinubu Orders Fresh Push To Crash Food Prices

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President Bola Tinubu has ordered a Federal Executive Council committee to move swiftly on measures to further reduce food prices across the country.

 

The Minister of State for Agriculture and Food Security, Senator Aliyu Sabi Abdullahi, disclosed this in Abuja, on Wednesday.

 

According to him, the directive focuses on ensuring safe passage of farm produce across transport routes to cut logistics costs.

 

“The President has given a matching order with a Federal Executive Council committee already handling it on how we are going to promote safe passage of agricultural foods and commodities across our various routes in the country,” Abdullahi said at a capacity-building workshop for Senate correspondents.

 

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Nigeria, Africa’s most populous nation, has faced worsening food insecurity since the removal of fuel subsidy, high transport costs, and insecurity on major highways disrupted the movement of goods.

 

Despite government interventions, food remains largely unaffordable for millions.

 

The minister said the plan is tied to Tinubu’s broader vision of food sovereignty—beyond availability to ensure affordability, accessibility, and nutrition on a sustainable basis.

 

To back this up, he revealed that government is set to roll out a Farmer Soil Health Scheme to boost productivity and a revamped cooperative reform initiative to mobilise resources and empower rural farmers.

 

“Mr. President has shown tremendous interest in the cooperative sector as a veritable tool for resource mobilisation, for economic activity generation, and to improve the livelihood of members,” Abdullahi added.

 

The event, with the theme, “Parliamentary Reporting: Issues, Challenges and Responsibilities,” also featured Senate Media Committee Chairman, Senator Yemi Adaramodu; ex-presidential aide, Senator Ita Solomon Enang; and NILDS DG, Prof. Abubakar Sulaiman.

 

 

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Umahi Threatens Defaulting Contractors With EFCC Arrest

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The Federal Government has warned contractors, including foreign firms, that any breach of regulations in road projects awarded to them may lead to arrest by the Economic and Financial Crimes Commission  and the Independent Corrupt Practices and Other Related Offences Commission.

The Minister of Works, David Umahi, issued the warning during an inspection of the ongoing dualisation of the East-West Road (Section IIIA) from Eleme Junction to Onne Port Junction in Rivers State.

The section is being executed by Reynolds Construction Company (Nigeria) Limited.

Responding to questions from journalists, Umahi commended the quality of work on the project but expressed displeasure over the slow pace, stressing that the December completion deadline remains sacrosanct.

On the project, he said:“The quality of the work is excellent, but the pace of work is totally unacceptable. Let me make it very clear to the contractor that this project will neither be reviewed nor varied in price or claims.

“I’m sure we have issued over 10 warning letters to them. If they fail to comply with the completion deadline of December 15, we will not extend it.”

He added that the ministry had already put measures in place to enforce compliance

“The comptroller has negative certificates to issue, and I will recover the money from any of their other projects. All those letters are on record, and when the time comes, they will be invoked. Any contractor who refuses to abide by regulations will have the EFCC and ICPC to contend with,” he said.

Umahi further disclosed that the Federal Government had directed that road projects valued below N20bn would no longer be awarded to expatriate companies, in line with its “Nigeria First” policy aimed at strengthening indigenous capacity in the construction sector.

“This is part of the Nigeria First policy of the Federal Government. Henceforth, no expatriate firm will be awarded any project valued below N20bn. Such projects must go to indigenous companies, while expatriates focus on higher-value projects requiring more technical capacity,” he said.

The minister also noted that the Federal Ministry of Works had adopted a funding prioritisation framework to sustain road projects initially financed by the Nigerian National Petroleum Company Limited under the Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme.

He stressed that President Bola Tinubu had directed that none of such projects should be abandoned, adding that priority would be given to critical economic corridors.

Umahi also decried the indiscriminate parking of heavy-duty vehicles on highways, saying it was damaging the pavements of completed sections of the road.

He said letters would be sent to state governors and the Inspector-General of Police to enforce punitive measures against defaulters.

Earlier, the Federal Controller of Works in Rivers State, Mrs Enwereama Tarilade, said RCC had completed 15km of the right carriageway and commenced work on the left carriageway, with one kilometre already laid in Continuously Reinforced Concrete Pavement.

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We’ll Support Federal University Environment And Technology – Ibas

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The Rivers State Government says it will  ensure the smooth and successful takeoff of the newly established Federal University of Environment and Technology (FUET), in  Ogoniland.

This commitment was made yesterday by the Administrator of Rivers State, Retired Admiral Ibok-Ete Ibas (Rtd), during a courtesy visit by the university’s Governing Council and Management team at the Government House, in Port Harcourt.

The high-level delegation was led by the Pro-Chancellor and Chairman of the Council, Professor Don Baridam and  the Vice-Chancellor, Professor Chinedu Mmom.

In his address, Administrator Ibas warmly congratulated the pioneer council and management on their appointments, describing their task as both a recognition of individual accomplishment and a historic call to duty.

“This is not just a recognition of your personal achievements but also a call to history to shape an institution that will have a profound impact on Rivers State, the Niger Delta, and indeed our country,” he stated.

The Administrator commended President Bola Ahmed Tinubu for the establishment of the specialized university in Ogoniland, describing the initiative as “timely and strategic.”

He emphasized that the university’s presence offers a critical opportunity to drive research, innovation, and community-focused solutions to the region’s pressing environmental and developmental challenges.

He further noted that the university’s core focus aligns perfectly with the priorities of his administration.“We consider this university not merely as another institution of higher learning but as a strategic partner in our collective effort to rebuild Rivers State under the ongoing state of emergency and beyond,” he affirmed.

Responding to specific requests presented by the delegation, Administrator Ibas assured the university of immediate support in critical areas essential for the its commencement.

These include the provision of operational vehicles, key facilities, and the completion of the access road to the campus, adding that other vital needs, such as perimeter fencing, refuse disposal, and the issuance of a Certificate of Occupancy, would be addressed within the framework of the state’s broader infrastructure and support programmes.

To ensure swift action, the Administrator directed the Secretary to the State Government (SSG) to work closely with the university’s Governing Council to prioritize the sequence of requests, particularly those tied to the commencement of academic activities in September 2025.

“Let me assure you that Rivers State Government will stand as a dependable partner to the Federal University of Environment and Technology. We see this university as part of our long-term investment in knowledge, innovation, and the future of our youths,” he emphasized.

In his remarks, the Pro-Chancellor and Chairman of the Governing Council, Professor Don Baridam, reaffirmed the university’s commitment to academic excellence, innovation, and community development.

He disclosed that the Federal Government has directed the institution to formally commence its academic session in September 2025, adding that preparations are in full swing to ensure a smooth take-off with adequate infrastructure and resources in place.

“Today’s meeting marks the beginning of a strategic partnership between the Rivers State Government and FUET, envisioned to establish the university as a premier hub for research, innovation, and sustainable development in the Niger Delta”, he said.

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