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Buhari Seeks $30bn Foreign Loan …Wants N180bn Virement In 2016 Budget …Explains Why 2017 Budget’ll Hit N6trn

Published

9 years ago

October 26, 2016

President Muhammadu Buhari has forwarded requests to the National Assembly to approve external borrowing plan of $29.960billion for execution of key infrastructural projects across the country between 2016 and 2018.
The president also requested for virement of N180.8 billion in the 2016 budget for provision of needed votes for some sectors.
The president made the requests in two separate letters to the Senate President, Dr Bukola Saraki and Speaker of the House of Representatives, Mr Yakubu Dogara which were read on the floor of both chambers, yesterday.
Buhari, in the external borrowing plan, explained that targeted projects cut across all sectors with special emphasis on infrastructure , agriculture, health, education, water supply, growth and employment generation.
Other sectors he said included poverty reduction through social safety net programmes and governance and financial management reforms, among others.
According to him, the cost of the projects and programmes under the borrowing (rolling) plan is $29.960billion.
This is made up of proposed projects and programmes loan of $11.274billion, Special National Infrastructure projects $10.686billion, Euro bonds of $4.5 billion and Federal Government budget support of $3.5billion.
He explained further that the loan was very necessary in view of the serious infrastructure deficit in the country.
He said the country had huge infrastructure deficit and enormous financial resources required to fill the gap in the face of dwindling resources.
“This is in addition to the inability of our annual budgetary provisions to bridge the deficit. It has become necessary to resort to prudent external borrowing to bridge the financing gap.
“This will largely be applied to key infrastructure projects namely power, railway and roads among others”, he added.
Buhari in the virement request, said the N180 billion would be moved from monies already appropriated for special Intervention programmes both recurrent and capital for funding of critical recurrent and capital items.
He said the request arose due to shortfalls in provisions for personnel costs; inadequate provision ab initio for amnesty programme; continuing requirements to sustain the war against insurgency; and depreciation of the naira.
The letter reads in part:” In the course of implementing the 2016 Appropriation Act, several MDAs have presented issues pertaining to salary shortfalls, the settlement of part of which has led to the depletion of the Public Service Wage Adjustment. “This Vote, which had a provision of N33, 597,400,000, now has a balance of N2, 758,296,000.
“The provision for NYSC in the 2016 budget is inadequate to cater for the number of corp members to be mobilised this year.
“In fact, an additional N8.5billion is required to cover the backlog of 129, 469 corps members who are due for call-up but would otherwise be left out till next year due to funding constraints.
“Similarly, the provision for meal subsidy for the Unity Colleges is inadequate for the number of students in the schools.
“Due to the devaluation of the naira, the budgetary provisions for the foreign missions are no longer sufficient to cover all their costs.”
Meanwhile, the Minister of Finance, Mrs Kemi Adeosun, yesterday, told the Senate that the Federal Government would sustain its over N6trillion national budget in the 2017 appropriation bill, expected to be submitted by President Muhammadu Buhari, after the consideration and subsequent approval of the pending 2017—2019 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) by the National Assembly.
Adeosun told members of the Senate Committee on Finance, led by its Chairman, John Owan Enoh (PDP, Cross River Central), who were on oversight visit to her ministry, that government would maintain its over N6trillion annual budget because it spends over N3 trillion out of the budget sum for salaries, pension and debt services, leaving a paltry amount for capital projects.
She insisted that the country would be gambling with the figure for now as it can’t go below it anymore in the face of high expectations from its citizens.
Enoh had told the minister that the committee’s visit was “actually driven by the collective decision of the Senate a few weeks ago that all its standing committees embarked on oversight visits to all ministries, departments and agencies of government.
“So, for us as a committee, in addition to having to respond to that requirement, it also became imperative that we embark on this maiden visit.
“Our hope is that on this visit, the minister, quite apart from giving us some highlights of the implementation of the Ministry of Finance budget in the year 2016, would also throw some highlights on few of some of the things that she feels the committee should know, especially the performance of our economy, no matter how briefly, and some things that we could take advantage of because we oversight her ministry, so that we don’t just hear as secondhand but hear as firsthand.
“This is October, the Medium Term Expenditure Framework is already sent to the National Assembly for approval so that the 2017 budget can come. We have a few revenue challenges, most of all is the performance of the independent revenue of government. So, we think that the minister would take advantage of this meeting and be able to bring us to speed with a few of these things,” he added.
The committee berated the minister for what it described as her poor handling of agencies under her watch, resulting in monumental leakages and loopholes.
“There are a lot of drain pipes and leakages in the customs, I don’t think that the ministry under your watch has given sufficient attention to the customs in particular,” Senator Hope Uzodinma, a member of the committee and chairman, Senate Committee on Customs told her.
Responding, Adeosun disclosed that government’s efforts at realising money from revenue generating agencies to meet the expectations of Nigerians were being hampered by high-level corruption still existing in the agencies, especially the Nigerian Customs Service, which she described its men as “cohesive crooks hard to break.”
To this end, she solicited an urgent intervention of the National Assembly in curbing the loopholes and excessive leakage not only in the revenue sourcing agencies but also all other Federal Government’s agencies, saying they were stinking of corruption.
The minister particular disclosed that about N2 trillion from the budget was going out for salaries of workers and pensions alone, and the sum of N1.4 trillion was also going out for debt servicing, saying the situation considerably slashes down the budget sum, a development, she noted, made it impossible to downsize the budget.

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Fubara Reads Riot Act To New SSG, CoS …Warns Against Unauthorized Meetings

Published

5 days ago

February 27, 2026

The Tide

Rivers State Governor, Sir Siminalayi Fubara, has charged the newly appointed Secretary to the State Government (SSG) and Chief of Staff (CoS) to carry out their duties with discipline, loyalty and a firm commitment to the success of the administration and the wellbeing of the people of Rivers State.

The governor warned that any involvement in unauthorised nocturnal meetings or any conduct capable of embarrassing the government will attract immediate dismissal.

Fubara gave the warning yesterday shortly after the newly appointed Secretary to the State Government (SSG), Dr Dagogo S.A. Wokoma and the new Chief of Staff (CoS), Barrister Sunny Ewule, were sworn in at the Executive Council Chambers of Government House, Port Harcourt.

As part of the ceremony, the Chief Registrar of the State High Court, David Ihua-Maduenyi administered the Oath of Allegiance and Oath of Office on the duo before the governor gave his charge.

Addressing the appointees, Fubara reminded them that their elevation to the new positions was a call to service and not a platform for political grandstanding or the pursuit of personal ambition.

He stressed that their foremost responsibility should be to themselves and to the people of Rivers State, stressing that their conduct must always reflect integrity, restraint and dedication to public good.

Speaking directly to Dr. Wokoma, whom he described as an accomplished academic and mathematician, the governor expressed confidence in his intellectual depth and capacity to deliver on the new assignment.

The office of the Secretary to the State Government, Fubara stressed, demands thoroughness, discipline and a deep sense of responsibility. He charged the SSG to represent the State with honour at all times.

“Your duty includes representing the state government. You need to represent us in a way and manner that will bring honour to us.

“What is important to this administration is to see that the good works that we started and the ones that we met, are concluded in a way that will bring progress and development to our dear state,” he stated.

Turning to the new Chief of Staff, the governor explained that he is expected to ensure smooth administrative coordination, managing official engagements effectively and safeguarding the image of the Government House.

He underscored the sensitive and personal nature of the role and emphasised that the position operates strictly under the authority of the governor.

Fubara stressed that the role does not permit independent political engagements or private strategy meetings without his knowledge and consent.

“Let me sound it here very clearly. Your duty is to make sure that you handle the administrative duties and image making roles perfectly well, liaising with whoever is coming for any official assignment here.

“If you involve yourself in nocturnal meetings and all those things, I will sack you. I’m very serious. What is important to me today is peace, progress and prosperity of this state. I’m not going to compromise anything for it,” he said.

The governor cautioned that involvement of the new appointees in any action capable of bringing the government or his office to disrepute would attract appropriate sanctions.

While congratulating the new appointees, Fubara expressed optimism that they would justify the confidence reposed in them.

He called on all public officials to work together in unity, observing that collective success is stronger and more enduring than individual achievement.

The governor who also addressed the Permanent Secretaries present at the ceremony, directed those of them who have reached retirement age to start preparing their handover notes without delay.

The notice, he said, was not intended to scare anybody but to prepare their minds towards the inevitability of exiting the service one day and to pave way for an orderly transition.

He warned against any attempt to engage in financial misconduct or last-minute irregularities, stressing that he was closely monitoring the system to ensure strict enforcement of accountability rules.

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Fubara Dissolves Rivers Executive Council

Published

3 weeks ago

February 13, 2026

The Tide

Rivers State Governor, Sir Siminialayi Fubara, has dissolved the State Executive Council.

The governor announced the cabinet dissolution yesterday in a statement titled ‘Government Special Announcement’, signed by his new Chief Press Secretary, Onwuka Nzeshi.

Governor Fubara directed all Commissioners and Special Advisers to hand over to the Permanent Secretaries or the most Senior officers in their Ministries with immediate effect.

He thanked the outgoing members of the State Executive Council for their service and wished them the best in their future endeavours.

The three-paragraph special announcement read, “His Excellency, Sir Siminalayi Fubara, GSSRS, Governor of Rivers State, has dissolved the State Executive Council.

“His Excellency, the Governor, has therefore directed all Commissioners and Special Advisers to hand over to the Permanent Secretaries or the most Senior officers in their Ministries with immediate effect.

“His Excellency further expresses his deepest appreciation to the outgoing members of the Executive Council wishing them the best in their future endeavours.”

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INEC Proposes N873.78bn For 2027 Elections, N171bn For 2026 Operations

Published

3 weeks ago

February 13, 2026

The Tide

The Independent National Electoral Commission (INEC) yesterday told the National Assembly that it requires N873.78bn to conduct the 2027 general elections, even as it seeks N171bn to fund its operations in the 2026 fiscal year.

INEC Chairman, Prof Joash Amupitan, made the disclosure while presenting the commission’s 2026 budget proposal and the projected cost for the 2027 general elections before the National Assembly Joint Committee on Electoral Matters in Abuja.

According to Amupitan, the N873.78bn election budget covers the full conduct of national polls in 2027.

An additional N171bn is needed to support INEC’s routine activities in 2026, including bye-elections and off-season elections, the commission stated.

The INEC boss said the proposed election budget does not include a fresh request from the National Youth Service Corps seeking increased allowances for corps members engaged as ad-hoc staff during elections.

He explained that, although the details of specific line items were not exhaustively presented, the almost N1tn election budget is structured across five major components.

“N379.75bn is for operational costs, N92.32bn for administrative costs, N209.21bn for technological costs, N154.91bn for election capital costs and N42.61bn for miscellaneous expenses,” Amupitan said.

The INEC chief noted that the budget was prepared “in line with Section 3(3) of the Electoral Act 2022, which mandates the Commission to prepare its election budget at least one year before the general election.”

On the 2026 fiscal year, Amupitan disclosed that the Ministry of Finance provided an envelope of N140bn, stressing, however, that “INEC is proposing a total expenditure of N171bn.”

The breakdown includes N109bn for personnel costs, N18.7bn for overheads, N42.63bn for election-related activities and N1.4bn for capital expenditure.

He argued that the envelope budgeting system is not suitable for the Commission’s operations, noting that INEC’s activities often require urgent and flexible funding.

Amupitan also identified the lack of a dedicated communications network as a major operational challenge, adding that if the commission develops its own network infrastructure, Nigerians would be in a better position to hold it accountable for any technical glitches.

Speaking at the session, Senator Adams Oshiomhole (APC, Edo North) said external agencies should not dictate the budgeting framework for INEC, given the unique and sensitive nature of its mandate.

He advocated that the envelope budgeting model should be set aside.

He urged the National Assembly to work with INEC’s financial proposal to avoid future instances of possible underfunding.

In the same vein, a member of the House of Representatives from Edo State, Billy Osawaru, called for INEC’s budget to be placed on first-line charge as provided in the Constitution, with funds released in full and on time to enable the Commission to plan early enough for the 2027 general election.

The Joint Committee approved a motion recommending the one-time release of the Commission’s annual budget.

The committee also said it would consider the NYSC’s request for about N32bn to increase allowances for corps members to N125,000 each when engaged for election duties.

The Chairman of the Senate Committee on INEC, Senator Simon Along, assured that the National Assembly would work closely with the Commission to ensure it receives the necessary support for the successful conduct of the 2027 general elections.

Similarly, the Chairman of the House Committee on Electoral Matters, Bayo Balogun, also pledged legislative support, warning INEC to be careful about promises it might be unable to keep.

He recalled that during the 2023 general election, INEC made strong assurances about uploading results to the INEC Result Viewing portal, creating the impression that results could be monitored in real time.

“iREV was not even in the Electoral Act; it was only in INEC regulations. So, be careful how you make promises,” Balogun warned.

The N873.78bn proposed by INEC for next year’s general election is a significant increase from the N313.4bn released to the Commission by the Federal Government for the conduct of the 2023 general election.