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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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PANDEF Hails Tinubu For Lifting Emergency Rule In Rivers

Published

2 weeks ago

September 19, 2025

The Tide

The Pan Niger Delta Forum (PANDEF) has hailed the lifting of the State of Emergency in Rivers State, effective midnight, Wednesday, September 17, 2025.

In a statement signed by Board members and National Executive Committee members, yesterday, PANDEF commended President Bola Tinubu for rectifying what they described as an anomaly.

The statement was co-signed by Co-Chairmen, PANDEF Board of Trustees, Alfred Diette-Spiff and Obong Victor Attah, National Chairman Ambassador Godknows Boladei Igali, and National Secretary, Beks Dagogo-Jack.

Tinubu declared a State of Emergency in Rivers State on the 18th of March, 2025, suspending Governor Siminalayi Fubara, the Deputy Governor, and members of the state House of Assembly for six months in the first instance.

In place of the governor, the President appointed Vice Admiral Ibok-Ete Ibas (retd) as Sole Administrator.

However, Tinubu announced the suspension of the Emergency Rule on Wednesday, stating, “It therefore gives me great pleasure to declare that the emergency in Rivers State shall end with effect from midnight today (Wednesday).”

The Forum commended Fubara’s unwavering perseverance and “faith in the divine will of Almighty God,” while also commending the Deputy Governor, Professor Ngozi Odu, the Speaker, and members of the House of Assembly, who were equally affected by the suspension.

“The Board and National Executive Committee of the Pan Niger Delta Forum, the apex socio-political organisation representing the South-South geopolitical zone, joins millions of Nigerians in welcoming the lifting of the state of emergency in Rivers State, effective midnight, Wednesday, September 17, 2025.

“While PANDEF had expressed strong reservations regarding the erstwhile emergency rule, we commend His Excellency, President Bola Ahmed Tinubu, GCFR, for taking this bold step to rectify the anomaly.

“We welcome Governor Siminalayi Fubara back to his elected office and salute his unwavering perseverance and faith in the divine will of Almighty God. We extend similar commendations to the Deputy Governor, Professor Ngozi Oduah, the Speaker, and members of the House of Assembly, who were equally affected by the suspension,” the statement read.

Addressing Rivers people, the forum declared, “Light has returned to the state and a new glorious dawn has come. A moment in which the bitter pains of the past months will inspire all to rededicate themselves to true mutual forbearance, new alignments and forward movement.”

They urged political leaders and citizens to put the past behind them and work towards the collective good of the State, while pledging to support Rivers’ developmental trajectory under Fubara.

“All hearts and hands must therefore be joined together to put the past behind us and work towards the collective good of the state.

“We look forward to the State’s return to normalcy and the resumption of its developmental trajectory under the leadership of Governor Fubara and his team. PANDEF reiterates its commitment to supporting the government and people of Rivers State in their pursuit of progress and development,” the statement added.

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RSG Approves Full Rehabilitation of State Secretariat …Unveils Housing Scheme for Civil Servants, Honours Veterans

Published

3 weeks ago

September 12, 2025

The Tide

Rivers State Administrator, Vice Admiral Ibok-Eteh Ibas (Rtd), has approved the complete rehabilitation and modernization of the Rivers State Secretariat Complex to enhance efficiency and productivity in the civil service.

Ibas made the announcement at the 2025 Civil Service Week Gala and Awards Ceremony held at Banquet Hall, Government House, Port Harcourt, on Wednesday,.

He disclosed that “initiative is designed to transform the secretariat into a modern, efficient and conducive work environment, directly supporting the civil servants who form the backbone of the state’s governance.”

The Administrator also approved the provision of 106 housing units for civil servants in the State.

Ibas paid glowing tribute to retired Heads of Service and Permanent Secretaries, describing them as the bedrock of the state’s administration.

He stated that the awards ceremony was a symbol of deep appreciation for decades of sacrifice, resilience, and commitment.

“These interventions are designed to not only recognize your service, but also to improve your welfare in tangible and lasting ways,” the Administrator stated.

“We must build an administration that is efficient, effective, and truly citizen-centric,” he added.

The Administrator urged serving officers to draw inspiration from their predecessors and strive to make a meaningful impact in the lives of citizens.

He emphasized the importance of embracing innovation, technology, and continuous training to build a civil service equipped for the future.

The Acting Head of Rivers State Civil Service, Dr. (Mrs.) Inyingi Brown, in her welcome address, described the civil service as the “engine room of government” and expressed profound gratitude to the Administrator for his unwavering support and commitment to its modernization.“

“A society that does not honour its heroes is not worthy of emulation,” Dr. Brown remarked, lauding the retirees as torchbearers of discipline and loyalty.

She pledged to build on their legacy through reforms and innovation, projecting that the Rivers State Civil Service would become a model of efficiency and transparency by 2030.

Speaking on behalf of the retirees, President of the Association of Retired Permanent Secretaries, Sir Promise Njowhor,

expressed heartfelt appreciation for the historic recognition.

“For once, since the creation of the State, we are being honoured,” Njowhor said, adding, “Our morale has been lifted.”

He pledged the association’s continuous support for government programmes, describing the body of experienced retirees as a resource available to contribute to state development.

The rehabilitation of the State Secretariat and the new housing scheme represent a major investment in the infrastructure and dignity of public service in Rivers State, signaling a new era of support for the civil servants who drive the government’s policies and programmes.

The Tide reports that the Administrator also conferred awards of meritorious service on retired Heads of Service and Permanent Secretaries in the State

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Rivers LG Poll: APC Wins 20 chairmanship seats, PDP Clears Three

Published

1 month ago

September 1, 2025

The Tide

The All Progressives Congress (APC) has won 20 out of the 23 local government areas in the just concluded local government election in the State, while the Peoples Democratic Party (PDP) clinched three local governments.

According to the results released by the Rivers State independent Electoral Commission (RSIEC), yesterday, the APC won the chairmanship seats in Abua/Odual, Andoni, Opobo Nkoro, Ahoada East, Ahoada West, Okrika, Ogu/Bolo and Khana local government areas.

APC also won in Gokana, Tai, Oyigbo, Bonny, Eleme, Etche, Omuna, Akuku Toru, Asari Toru, Degema, Ikwerre and Emohua local government areas.

The Commission, however, said the PDP won in Port Harcourt City, Obio/Akpor, and Ogba Egbema Ndoni local government areas.

Chairman of the Commission, Dr Michael Odey, who announced the results at the Commission headquarters in Port Harcourt, said Ofori Owolabi of the APC scored 28,755 votes to emerge winner of the election for Abua Odual while Solomon Ochomma, also of the APC, emerged chairman elect for Ahoada East after scoring 54,509 votes.

Odey said Eugene Epelle also of the APC scored 84,125 votes to emerge winner in Ahoada West, while Bob Fubara was elected the chairman-elect for Akuku Toru after scoring 63,593 votes.

Similarly APC chairmanship candidate Lucky Otuo Promise emerged chairman-elect for Andoni after scoring a total of 126,181 votes, APC’s George Onengiyeofori emerged winner in Asari Toru after scoring 56,383 votes, while Pepple Blessing Abinye garnered 13,543 votes to emerge winner in Bonny Local Government Area.

Other APC candidates elected include Michael John Williams who scored 16,536 votes to emerge chairman-elect for Degema Local Government; Obarlllormate Ollor (77,452) for Eleme; Dr Chidi Julius Lloyd (114,380) for Emohua; Njoku Boniface (100,649) for Etche; Confidence Deekor (96,478) for Gokana, while Wobodo Charles got 62,746 votes to emerge winner in Ikwerre Local Government Area.

Other APC winners from the APC include Akuro Tobins (32,285 votes) for Okrika; Hon Obasi Uchechukwu (38,530) for Omuma; James A James (38,822) for Opobo Nkoro; Vincent Nemieboka (36,374) for Ogu/Bolo; Hon Mbakpone Okpe (70,080) for Tai LGA, while in Oyigbo, Okechukwu Akara scored 101,495 votes to emerge winner.

Meanwhile, the RSIEC chairman announced Dr Gift Worlu of the PDP with 328,823 votes to emerge winner in Obio Akpor; Shedrack Ogbogu, also of the PDP, scored 51,051 votes for Ogba Egbema Ndoni Local Government Area, while in Port Harcourt City, Sir Alwell Ihunda garnered 235,054 votes for PDP to emerge winner.

The APC also cleared the councillorship seats in Abua/Odual, Andoni, Ahoada East, Ahoada West, Okrika, Ogu/Bolo and Khana, Oyigbo, Bonny, Eleme, Etche,Tai, Khana Opobo/Nkoro and Degema local government areas.

Similarly APC councillorship candidates also emerged winners in Asari Toru, Degema, Akuku Toru, Gokana and Khana while PDP cleared the councillorship seats in Obio/Akpor, Port Harcourt city, and Ogba Egbema/ Ndoni Local Government Areas

Meanwhile, the Forum of State Independent Electoral Commissions has passed a vote of confidence on the just concluded local government election in the State.

National Chairman of the forum, Hon. Mamman Nda Eri, said this in an interview with newsmen in Port Harcourt.

Eri said all the chairmen across the country were in Port Harcourt to monitor the election as well as gain experience in an election under emergency rule.

John Bibor & King Onunwor