Business
Stakeholder Criticises Benue’s 2017 Budget Proposal
Former Lagos Police Commissioner, Alhaji Abubakar Tsav, has criticised Benue’s budgetary proposals for 2017, specifically declaring that the N4.5 billion voted for “Government House Administration” was to “service politicians”.
Abubakar told newsmen in Makurdi, recently, that voting such a huge amount for government house administration was “outrageous”.
“I have gone through the proposals. The budget has failed to address the core issues affecting the Benue people.
“The budget shows that government is more interested in addressing issues that have no direct bearing to the lives of the poor people,” he said.
He expressed surprise that a government that had not paid salaries, even after collecting bailout funds, loans and Paris Club Refund, could seek to “waste so much” on government house administration.
“`From the budget details, there is no capital project that will be executed in the government house. It means that the whole money will go into entertainment,” he said.
Tsav advised government to rather pay more attention to the welfare of civil servants, pensioners and teachers, and alleged that most Benue residents were living in hunger and want because of a general lull in activities.
The Tide source reports that of the N4.5 billion proposed for the government house administration, N3.3 billion was for the governor’s office, while N1.2 billion was proposed for the deputy’s office.
The figure is more than two times the N1.6 billion voted for the same purpose in the 2016 budget.
Our source also reports that an item referred to as “biological assets” had a provision of N100 million, two times its N50 million provision in the 2016.
Efforts to ascertain the category of assets termed “biological”, however proved abortive as government officials also claimed to be ignorant of what was meant.
Contacted, the Commissioner for Information and Orientation, Mr Lawrence Onoja, justified the budget estimates, saying that they were proposed with the “best intentions”.
“The amount proposed for the government house administration and office of the deputy governor is not outrageous. It is a proposal subject to the approval of the state house of assembly,” he explained.
He said that the figure went up compared to last year’s because of government’s intention to construct a new office for the deputy governor and renovate some guest houses in the government house.
The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.
The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA), said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.
Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.
“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.
He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.
According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.
Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.
He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.
“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.
He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.
“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.
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