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Saraki Gives C’ttee 48hr- Deadline To Submit Budget Report …Senate Approves N1.64trn New Borrowing To Fund Deficit …Passes Police Trust Fund Bill

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Senate President Bukola Saraki, yesterday, gave the Appropriations Committee till Thursday to submit the 2019 budget report.
The Vice Chairman of the Appropriations Committee, Sunny Ogbuoji told the Senate that only 24 out of 61 sub-committees had submitted their reports.
Saraki insisted that the budget report must be presented on Thursday, April 11, ahead of the April 16 approval of the money bill.
The Senate President noted the Appropriations committee will be forced to use Executive submissions if the sub-committees fail to submit their reports to the Committee by Wednesday.
Saraki said, “It is unfortunate that only 24 committees have submitted their reports. Last week, we all took a decision here that we are not going to waiver on our position. Our position is very clear: that all committees should submit (their budget reports). And those that don’t submit, then the Appropriations Committee should use the Executive submission.
“That position is still where we are. And I want to appeal to all our committees that you really have just till tomorrow (Wednesday) to make sure that your reports get to the Appropriations Committee because Thursday, you must lay this report.
“Vice Chairman of Appropriations Committee, if you don’t get report from our committees by tomorrow (Wednesday), then you just use the submission of the Executive. But come Thursday, you must lay that report.”
It would be recalled that President Buhari, had presented the N8.83 trillion budget proposal to a joint session of the National Assembly on December 19, 2018.
However, the Senate, yesterday, adopted N1.64 trillion proposed by the Executive as the amount for new borrowing to fund the 2019 budget deficit.
The upper chamber also approved the proposed N500 billion special social intervention fund.
The adoptions were parts of the 2019-2021 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) passed yesterday by the upper chamber.
President Muhammadu Buhari sent the MTEF/FSP to the National Assembly on November 6, 2018 for consideration and approval.
The passage of the MTEF/FSP came as the Senate is set to receive the report of the 2019 budget from its Appropriation Committee.
The Senate adopted all the critical projections in the MTEF/FSP as proposed by the Executive.
The MTEF/FSP an annual rolling three year-expenditure plan sets out the medium-term expenditure priorities and provides the basis for the preparation of the annual national budget.
The Senate Committee on Finance, which considered the MTEF and FSP, presented its recommendations for adoption by the Senate in plenary.
Apart from the adoption of N1.64 trillion as the amount for new borrowing to fund the budget deficit, the Senate advised relevant agencies to continue to explore ways of generating additional revenues for government to bring down the fiscal deficit.
It said that the Federal Government should harness the full optimal potential of the ministry of Mines and Steel Development in terms of revenue generation to minimize the level of new borrowing.
It also said that the Federal Government should consider reducing the granting of waivers and exemptions while ensuring that the Nigerian Customs Service personnel were at all oil terminals for accountability.
The Federal Inland Revenue Service, it said, should consider increasing tax on luxury goods and services.
On the N5,000 special social intervention fund, the Senate asked for the cooperation of relevant committees in the National Assembly and other relevant MDAs in ensuring that the funds are judiciously utilized to provide tangible impact of the funds on the Nigerians.
The Senate retained the oil output of 2.3 million barrel per day, oil price benchmark of $60 per barrel, exchange rate of N305/$1, GDP Growth rate of 3.0per cent and Inflation growth rate of 9.98per cent.
Other Executive proposals for 2019 also adopted by the Senate included: proposed expenditure of N8.83 trillion, FGN retained revenue N7.92 trillion, fiscal deficit N1.86 trillion, new borrowings N1.65 trillion, statutory transfers N492.4 billion, debt service N2.14 trillion, Sinking Fund N120 billion, total recurrent (non-debt) N4.72trillion, personnel costs (MDAs) N2.29 trillion, capital expenditure N2.86 trillion, Special Intervention N500billion.
The committee said that crude oil production output stood at 2.0 million barrels as of December 2018.
According to the committee, the 2.3million daily target is achievable “due to the continuous efforts of all stakeholders in checkmating the issues of oil facilities vandalism and other vices associated with such regard.”
The committee which recommended exchange rate of N305/$1, asked the Central Bank of Nigeria (CBN) “to continue adopting strategies that will aid the strengthening of the naira and bridging the gap between the official and parallel market rate of the foreign exchange.”
The Senate also, yesterday, passed the Nigerian Police Trust Fund Bill (HB 1583).
Recall that last week, the President of the Senate, Dr. Abubakar Bukola Saraki, had promised the Inspector General of Police, Mr. Mohammed Abubakar Adamu, that the Senate would fast-track its work on both the Police Trust Fund Bill and the Police Reform Bill.
Reacting to the Senate’s passage of the Bill, which has also been passed by the House of Representatives, Saraki said: “By passing this bill, we will be creating big strides towards providing and improving security and the policing in our country.
“One of the major concerns has always been the issue of funding. We believe that this bill will provide the funding needed for training and recruitment. I am confident that by the time we lay the report on the Police Reform Bill, we would have gone a long way in moving the police in the right direction,” the Senate president said.
Similarly, the Senate, yesterday, confirmed the appointment of Maj.-Gen. Paul Tarfa (rtd) as Chairman of the North East Development Commission (NEDC).
The Senate also confirmed the appointment of Mohammed Alkali as the Managing Director and Chief Executive Officer of the NEDC, alongside nine members.
This followed presentation of report by Chairman, Senate Committee on Special Duties, Sen Abdul Aziz Nyako on confirmation of nominations into the board of the commission.
The other nominees are Musa Yashi as Executive Director Humanitarian Affairs; Muhammed Jawa as Executive Director Administration and Finance; Omar Mohammed as Executive Director Operations.
Others are David Kente, member representing North-East Zone; Asmau Mohammed, member representing North-West Zone; Benjamin Adanyi, member representing North-Central Zone.
Still others are: Olawale Oshun, member representing South-West Zone; Dr. T. Ekechi, member representing South-East; and Obasuke McDonald, member representing South-South.
Contributing, Sen Binta Masi (APC-Adamawa) observed that the Managing Director and Chief Executive Officer was from Borno State, while the headquarters of the commission was also domiciled in Borno.
She noted that in the spirit of fairness, other states facing insurgency should have been considered.
Masi noted that late Sen Ali Wakili suggested that the headquarters be domiciled in Bauchi State, but the request was turned down to allow for more negotiations, and wondered why the decision was made in favour of Borno.
In response, Nyako said the observation made by Masi was paramount, but indicated that the decision was reached during Senate and House of Representatives conference.
He said, “Recall that in our bill, we left that issue open and during the hearing, we agreed that if the headquarters should be in Borno, someone from elsewhere should be chief executive officer.
“It was the House bill that came with zoning within Borno. They had overwhelming votes in support of that during our conference and in the spirit of democracy we had to succumb.”
The Deputy Leader, Sen. Bala Na’Allah, also noted that the observation made by Masi was genuine but noted certain situations could warrant a change.
He said, “the citing of the headquarters is because the entire country associated the beginning of insurgency to Borno and other most affected states are Adamawa and Yobe states.
“So, chairman for the commission is from Adamawa and choice of Alkali is for certain convenience, which is required to galvanise support with the least inconvenience.
“Also, it should be noted that the action of the Executive led to choice of Alkali while citing of the NEDC in Borno is legislative action and in the spirit of cooperation among arms of govt we should let that go and confirm them.”
The Leader of the Senate, Ahmad Lawan, congratulated the National Assembly for passing the bill and the Executive for assenting to it and sending the list of board nominees for confirmation.
“The people nominated here are qualified and experienced and prepared to hit the ground running.
“So, I urge the committee to monitor the commission’s take-off to ensure that right things are done.
“We have learnt from issues of non smooth take-off of the Niger Delta Development Commission, so that the NEDC will learn from that. The commission needs urgent take off,” Lawan submitted.
The Deputy Senate President, Ike Ekweremadu, also congratulated the nominees.
He said the emergence of the commission was a sign that the National Assembly had concerns for happenings in Nigeria irrespective of region and other indices.
“The NDDC bill was initiated in the National Assembly. It was vetoed by the Executive, but we overturned the veto.
“It is the same spirit that led to the initiation of the NEDC. The smooth running of NDDC is due to so much protocol.
“So, from the day one of the take-off of NEDC, the National Assembly should start oversight to give life to North East and hope to other Nigerians doing business in those areas and I hope the pioneers would lay good example,” Ekweremadu said.
In his remarks, President of the Senate, Dr. Bukola Saraki, congratulated the nominees, and urged them to hit the ground running.
He also emphasised the need for oversight of the commission to ensure proper implementation of projects.

 

Nneka Amaechi-Nnadi, Abuja

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RSG Woos Investors As PHCCIMA Unveils Port Harcourt Int’l Trade Fair 

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Rivers State Government has urged investors to invest in the state, saying that Rivers State is currently one of the safest states in Nigeria for business.
The Rivers State Commissioner for Commerce and Industry Warisenibo, Joe Johnson, stated this  during the unveiling of the 18th Port Harcourt International Trade Fair 2025 Logo at the Port Harcourt Chamber of Commerce, Industry, Mines and Agriculture (PHCCIMA) office, in Port Harcourt, last Thursday.
He said that Gov. Siminalayi Fubara’s administration would use the platform to dismantle lingering negative perceptions about the State and assured investors of the rebirth of a conducive business environment.
The Commissioner said that Gov. Fubara had demonstrated commitment in transforming Rivers State from an oil independent economy to a diversified economy.
“Our key intervention include the need to streamline business registration through the Rivers State Investment Promotion Agency (RSIPA) plus infrastructure upgrade across Port Harcourt Eleme, Etche, Oyibo, Ogba Egbema, Ndoni and Khana to link industrial zone partnering with development agency to boost small and medium scale enterprises.
“Gov. Siminalayi Fubara leadership in the State is a turning point in the economic trajectory of Rivers State”, he said.
The Commissioner reacted to complaints of government’s failure many years ago to release the 10,000 hectares of land to the CBN-backed Oil Palm Growers Scheme, saying he would liaise with his counterpart in Ministry of Agriculture to find out about the promise before speaking on it.
He said this is because Gov. Fubara does not promise and fail.
Speaking before the unveiling the logo for the International Trade Fair, the President of PHCCIMA, Dr. Chinyere Nwoga, said that the Port Harcourt International Trade Fair is back and that Rivers State is open, safe and good for business.
She said that the theme for this year trade fair is “Growing Through Innovation and Sustainability: Bridging Markets and Encouraging Disruptions.”
She said the trade fair would commerce from December 12 to 22, 2025, at the Obi Wali International Conference in Port Harcourt, the Rivers State capital.
 Dr. Nwoga emphasised that survival in the contemporary economy demands rapid adoption of technology, digital transformation, and artificial intelligence.
“To run a successful business today, you must innovate relentlessly, embrace technology, and operate on a global stage.
“The fair aims to attract a diverse constellation of participants, multinational exhibitors, diplomats, federal and state agencies, research institutions, manufacturers, trade associations, professional bodies, and the general public.
“Beyond networking and investment matchmaking, the event will double as a pre-Christmas shopping festival, with exhibitors offering substantial discounts to families.
“The 25 trade groups of PHCCIMA cutting across diverse sectors will also be active, conducting seminars.
“A notable innovation this year is the dedicated showcase by Rivers State’s 23 Local Government Areas, each presenting its unique products, agricultural produce, and economic potential.
“From the emerging blue economy opportunities to cutting-edge innovations in the oil and gas sector—still the heartbeat of Nigeria’s hydrocarbon industry—the fair promises to spotlight untapped prospects across multiple sectors.
“Government presence at the logo unveiling underscores the administration’s renewed commitment”, she said.
Earlier, the Director General of the Rivers State Investment Promotion Agency (RSIPA), Dr. Chamberlain Peterside, expressed excitement to be part of the unveiling.
 The DG of RSIPA, traced the history of Rivers State and said the present administration was determined to bring back fleeing businesses.
He said progress had been made and not all businesses were lost, pointing out that NLNG and Renaissance are still in Port Harcourt.
The DG promised assured that the administration would definitely look into the grievances of land owners whose Certificates of Occupancies (C of Os) have been held up because of the emergency rule, and speed up the processes so they too would know that Rivers State is back to business.
In his speech, a  former President of PHCCIMA, Dr. Emi Membere-Otaji expressed happiness that the state government came fully to back the trade fair.
Dr. Membere-Otaji who is now the first National Deputy President of Nigerian Chamber of Commerce, Industries Mines and Agriculture (NACCIMA)  said that the private sector is getting signals that good things are ahead in the State
He advised the governor to strive more to bring back fleeing businesses.
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MAN Tasks Rivers, Bayelsa On Blue Economy

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The 2025 annual general meeting (AGM) and conference of the Rivers/Bayelsa states chapter of the Manufacturers Association of Nigeria (MAN) has come to a close with a strong call for both states to drive the blue economy.

The communique just issued after the AGM pointed to what it called emerging prospects in fish processing, seaweed cultivation, ship repair, and marine technology.

The communique which also mentioned human capital gaps that must be filled through technical and vocational training that are aligned with modern industrial needs, said the blue economy represents a viable pathway for Nigeria’s industrialisation.

It said MAN and Arican Marine Environment Sustainability Initiative (AFMESI) have the capacity to unlock Nigeria’s blue economy sustainably and inclusively, but said the region required dedicated infrastructure upgrades, including roads, waterways, and power.

The communique was signed by Vincent Okuku (Chairman of Rivers/Bayelsa States Branch); Michael Nosa Agana (Branch Vice Chairman/Chairman AGM planning Committee); and Chibuzor Eze (Executive Secretary, Rivers/Bayelsa States Branch).

The resolutions said the future of the Niger Delta economy lies in diversification rather than dependence on extractive industries. “Technology and innovation, value addition and local processing, strategic infrastructure, and a skilled workforce are essential pillars for the future of manufacturing in the region.

“Governments in the region must intensify support for manufacturing activities. Various forms of collaboration across sectors should be actively encouraged.”

It specifically advised Bayelsa and Rivers States to fully develop and harness the blue economy as strategic gateways for sustainable growth; and called for cross-border partnerships with neighbouring states to enhance trade, security, and environmental management.”

The Rivers/Bayelsa States branch of MAN held its first (41st) AGM outside Port Harcourt for the first time, hosted by Bayelsa State Government at the Chief D.S.P. Alamieyeseigha Memorial Banquet Hall, with the theme: ‘Trade, Technology, and the Future of Manufacturing in the Niger Delta.’

In his welcome address, the chairman of the branch, Okuku, commended the Bayelsa State Government under the leadership of Gov Douye Diri for its efforts in industrial development, investment promotion, and strong partnership with the private sector.

He also acknowledged the Rivers State Government for its commitment to rehabilitating industrial clusters, improving access roads, and delivering key infrastructure.

He, however, expressed concern over persistent challenges such as high energy costs, unreliable electricity supply, weak transport systems, rising logistics expenses, multiple taxes and levies, inconsistent regulatory frameworks, and pressure from host communities, which continue to hinder manufacturing growth in both states.

The President of MAN, Francis Meshioye, noted that the Niger Delta, with its abundant resources and strategic location, holds vast potential for industrial expansion. He called for policy frameworks that promote local manufacturing, enhance trade, and attract investments to the region.

Goodwill messages were delivered by the Minister of the Federal Ministry of Regional Development, Abubakar Momoh, represented by Wasa Festus, Director of Community Development and Education. Another goodwill message was also presented by the Bayelsa State Commissioner for Trade, Industry and Investment, Ebieri Jones.

In his remarks, Gov Diri praised MAN for its contributions to Nigeria’s manufacturing sector, noting its resilience, innovation, and strategic role in national development. He stated that the conference theme aligns with his administration’s mantra of “Assured Prosperity.”

Gov Diri offered 24-hour service to manufacturers wishing to relocate to the state, and highlighted the State’s ongoing transformation through deliberate investment in infrastructure, security, and human capital aimed at positioning Bayelsa State as a hub for industrial growth, particularly in the blue economy, agriculture, and manufacturing.

He further noted that hosting the 41st AGM fulfilled a long-desired aspiration of the State following the successful 2024 MAN event in Port Harcourt, Rivers State. He officially declared the exhibition open.

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NELFUND Warns Students Against Fake Loan Portal

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The Nigerian Education Loan Fund has alerted the public to a fraudulent message circulating online, claiming that the NELFUND Student Loan Registration Portal is open.

The message directs applicants to a third-party link (http://gvly.xyz/Nelfund-Student-Loan, which NELFUND confirms is unauthorised and fraudulent.

In a post obtained from its X handle, yesterday, NELFUND urged students and the general public not to click on the link or provide any personal information, emphasising that the official loan registration portal is only accessible through the Fund’s verified channels.

The agency reminded applicants to exercise caution online and to report any suspicious links or communications claiming to be from NELFUND.

“Applicants are encouraged to always verify official announcements via NELFUND’s official website and social media channels,” NELFUND said.

This advisory comes as part of NELFUND’s ongoing efforts to safeguard students and ensure the integrity of the student loan application process.

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