Featured
Experts Blast Buhari For Basing 2020 Budget On 7.5% VAT …As President Presents N10.33trn Budget, To Service Debt With N2.45trn …Budget’ll Impoverish, Mortgage Future Of Nigerians, PDP, CUPP Laments
Some economic experts have expressed concern over the Federal Government’s decision to base the estimated revenue from Value Added Tax (VAT) in 2020 on 7.5 per cent instead of five per cent.
Dr Patricia Auta, an Economic Analyst, while reacting to the N10.33 trillion budget submitted to the National Assembly yesterday in Abuja said that the government had acted prematurely in using 7.5 per cent instead of five per cent.
He told our correspondent that the proposed hike in VAT would have to be approve by the National Assembly before it comes into effect, adding that it had not been done.
According to him, the government should not have used it in calculating its revenue estimates.
“It’s my opinion that the government cannot just assume that the National Assembly will approve the VAT increment from five per cent to 7.5 per cent.
“As much as it’s important for the government to increase its tax revenue, increasing VAT is not the right way to go.
“VAT is a multi-level tax on consumption and the burden rest on the final consumer and not the business so the people are the ones who will bear the brunt of the increase.
“Government needs to pay attention to expanding the tax net and ensure that businesses pay tax, especially those multinational companies. That’s where the money is,” she said.
Another expert, Mr. Jibrin Ibrahim said that the government was overly optimistic in their revenue targets, which includes the VAT component.
He said that as much as increasing revenue was important, it should not be done at the expense of the people.
Ibrahim also expressed his concern over the sum allocated to education and health compared to other sectors.
He said with the infrastructure gap in the education and health sectors, it was surprising that only N48 billion was budgeted for Education and N46 billion for Health, out of the N2.46 trillion earmarked for Capital Expenditure.
Ibrahim urged the National Assembly to examine the major components of the budget for the benefit and development of the nation.
President Muhammadu Buhari yesterday presented a budget proposal of N10.33 trillion to a joint session of the National Assembly.
Buhari puts the Federal Government’s estimated revenue in 2020 at N8.155 trillion, comprising oil revenue of N2.64 trillion, non-oil tax revenues of N1.81 trillion and other revenue of N3.7 trillion.
President Buhari said debt servicing in the 2020 budget will gulp N2.45trn, out of which local debts would take N296bn.
Overhead cost will be N426.6bn, he said.
Other estimates are N556.7 billion for statutory transfers; N2.45 trillion for debt servicing and provision of N296 billion as sinking fund.
The 2020 budget is based on an oil production estimate of 2.18 million barrels per day, oil price benchmark of 57 dollars per barrel and an exchange rate of N305 to a dollar.
Other benchmarks are: real Gross Domestic Product (GDP), growth rate of 2.93 per cent while inflation rate “is expected to remain slightly above single digits in 2020’’.
Mr. President during the declaration said that N125 billion was allocated to the National Assembly while N110 billion was allocated to the Judiciary.
For allocations to ministries, the president affirmed the following allocations to respective ministries.
Works and Housing – N262 billion, Transportation – N123 billion, UBEC – N112 billion, Defence – N100 billion, Agriculture – N83 billion, Water Resources – N82 billion, Education – N48 billion, Health – N46 billion, North East Development Commission – N38 billion, SIPs – N30 billion, FCT – N28 billion and Niger Delta – N24 billion.
However, Senate President, Ahmed Lawan in his speech charged all government ministries, departments and agencies to defend their proposals before lawmakers before the end of October.
He also said the lawmakers should ensure the budget got passed before the end of the year.
The Peoples Democratic Party (PDP), in its reaction yesterday, said the N10.7trillion 2020 budget presented by President Muhammadu Buhari to the National Assembly would further impoverish Nigerians and mortgage the future of the nation and its citizens.
This is even as the party urged the legislature to redirect the fiscal proposal to serve the interest of the vast majority of Nigerians.
A statement issued by the party’s National Publicity Secretary, Kola Ologbondiyan, described the appropriation bill as “hazy, showing streaks of padding, fraudulent duplication, replete with false performance indices, deceptive projections and inexplicable expenditure assertions which create openings for continued looting of our national patrimony by leaders of the All Progressives Congress (APC) and persons close to the Presidency.”
It read in part: “The PDP insists that it is inexcusable that despite the huge natural resources at President Buhari’s reach, he articulated an N10.7trillion budget that is completely lacking in concrete wealth creation strategy but relies on further squeezing of Nigerians through excruciating taxes, levies and agonizing tolls.
“The party described as unacceptable that the budget is skewed to serve the interest of the opulent, as projects that have a direct bearing on the wellbeing of the masses were not substantially accommodated in the overall expenditure profile.
The party also criticized the Buhari-led administration for “not being transparent in the mammoth allocations for alleged vague projects, particularly the Ministries of Works and Housing as well as Transportation, where allegations of diversion of public funds were endemic in the last budget.
“Standing with millions of Nigerian youths and women, our party rejects the paltry budgets of N48billion for Education and N46billion for Health, and urges the National Assembly to review the allocations in the interest of Nigerians.
“Furthermore, the PDP notes, as unacceptable that President Buhari, in his budget speech, could not give an account of his handling of the 2019 budget and had to resort to lame excuses and unsupported figures, particularly on the various unimplemented subheads in critical sectors of the economy.
“Moreover, Mr President failed to explain why his administration has remained hugely corrupt and how his Presidency depleted our foreign reserves to an all-time low of $41,852billion accumulated huge foreign and domestic debts and kept the naira at its knees at about N360 to $1 under his watch.”
The party also challenged the Presidency to make public the details of the Presidency allocation for Nigerians to “see the billion being spent to finance the opulent lifestyle of the Buhari Presidency, despite Mr President’s claims of prudence and sacrifice.”
The Peoples Democratic Party (PDP) also urged the National Assembly (NASS) to redirect the 2020 budget to areas that would better serve the interest of majority of Nigerians.
Ologbondiyan said that the budget as it is would further impoverish Nigerians and mortgage the future of the nation.
These, according to him, would create openings for diversion of public funds.
Also, the Coalition of United Political Parties (CUPP) has described the 2020 Budget presented to the National Assembly by President Muhammadu Buhari as heavy buy lacking substance.
This came as it announced that it was heading for the court to challenge the planned increment in the Value Added Tax (VAT), by the Federal Government.
CUPP particularly said the budget was similar to a heavy travelling bag that has no substance in it.
In a statement issued by its spokesman, Ikenga Ugochinye, yesterday, the opposition political group, said it regretted to announce to the nation that with the budget presented by the president,” the days of the nation’s suffering are not any way close to an end.”
The statement reads, “The Coalition of United Political Parties (CUPP), having listened critically to President Muhammadu Buhari’s 2020 Appropriation Bill as presented to the joint session of the National Assembly on Tuesday, regrets to inform Nigerians that the days of the nation’s suffering are not any way close to an end.
“The president has by today’s budget presentation shown that he has no formula to save the nation’s economy from the impending final ruins that his mismanagement has caused.
“Opposition parties see this fiscal document as an empty document that is not worth the paper on which it was written. It is full of rhetoric; Buhari’s appropriation bill can best be described as a heavy travel bag that is empty in substance or value.
“The CUPP notes that this document is a final weapon to consolidate Buhari’s next level of economic ruins, poverty, looting and visionlessness. It is a come and chop document meant to further impoverish many and prosper the privileged few.
”The ppposition rejects the inclusion of the illegal proposed increment in VAT as part of the 2020 budget expected source of funding. This has shown that the budget is built in the sky with no serious source of funding except taxing the people to death.
“The opposition coalition has therefore resolved to head to court this week to stop the planned insensitive move to tax the suffering citizens of Nigeria to death with the proposed increment in VAT from 5% to over 7%.
“The president should not force the suffering citizens to bear the consequences of his leadership failures.”
Featured
Fubara Pledges Support For Corporate Organisations In Rivers …Says PPP Business Model Responsible For NLNG’s Success
Rivers State Governor, Sir Siminalayi Fubara, has pledged the continued support of his administration for the Nigeria Liquified Natural Gas (NLNG) Limited.
Fubara gave the assurance while receiving the new Managing Director and Chief Executive Officer of the NLNG, Mr Adeleye Falade, who paid him a courtesy visit at Government House, Port Harcourt.
He assured that his administration would continue to contribute its own quota in support of the NLNG.
According to him, the success of the organisation is equally the success of the government of Rivers State and the success of the Federal Government.
“Our duty is to make sure that we support whoever is operating in our state. We are the ones here. If we don’t support you and you don’t succeed, we also will not succeed and Mr President will also not succeed.
“So, the success of your establishment is the success of our state, and overall success of Nigeria. So you can count on our support. Wherever you think we need to come in to support you, please do not hesitate to call upon us.
“You just mentioned here that your predecessor left a handover note showcasing the level of support that he got from the state. It is not going to be different in your own case. I can assure you that. I will also ensure that other units of the government will liaise with you when necessary. So even if you can’t get to me, you can always get to them and if there is anything we can do to help your establishment succeed, we will do it for you,” he said.
The governor attributed the success of the NLNG to the Public Private Partnership ( PPP) business model adopted by the Federal Government and the multinational oil companies.
The NLNG is jointly owned by Nigerian National Petroleum Corporation (NNPC) with 49%, Shell Gas B.V. with 25.6%, Total LNG Nigeria Ltd with 15%, and Eni International with 10.4%.
The partnership model allows for shared risks, costs, and expertise in the LNG sector.
The governor noted that the NLNG has not only survived the difficult business environment but has made sustained progress in the nearly three decades of its existence.
According to him, the decision of the Federal Government to allow the multinational oil companies who have the needed expertise to run the establishment while government plays a supervisory role over it has largely been responsible for its success.
“I’m very proud to say that if there is one establishment that has shown resilience, that has survived in the face of all the political issues prevalent in this country, it is the NLNG. And what is the reason? The reason is very simple. Government has no business in business. That is the truth. Leave the business for those people who can operate it. Let the government play its supervisory role to ensure that there is compliance with the laws; ensure that standards are maintained and also ensure that the right people with the needed expertise are at the helm of affairs. That’s all. I think that is the reason why we still record a lot of successes in NLNG,” he said.
In his opening remark, the new NLNG boss, Mr Adeleye Falade, who led other top officials of the company on the visit, expressed appreciation to the governor for granting them audience, and appealed to the State Government to continue to support the organisation.
“We appreciate the opportunity to meet with you and deepen this important relationship.We deeply value the support the Rivers State Government continues to extend in fostering an enabling operating environment for businesses. NLNG remains deliberate in its contribution to Nigeria’s development, and Rivers State, our primary host, continues to be central to that commitment,” he said.
Falade said the company has continued to work with its host communities to strengthen their capacity to identify, prioritise, and deliver sustainable development initiatives that create lasting impact.
According to him, communities including Amadi-ama, Abua, Ekpeye, Okrika, Kalabari, and Emohua have continued to benefit from this model.
He said that beyond community infrastructure, the NLNG has sustained investments in economic empowerment through initiatives such as Vocational Innovation and Business Empowerment Scheme (VIBES) and Micro Small and Medium Enterprise (MSME) schemes.
These, he said, were designed to support small businesses, build capacity, and stimulate local enterprise across the state.
Among officials of the company who accompanied the Managing Director were General Manager, External Relations and Sustainable Development, Dr Sophia Horsfall; Manager, Government Relations, Mr Abdul Umar; Manager, Community Relations, Dr. Yemi Adeyemi; Head of Government Relations, Mr Mike Igoni; Head of Community Liaison and Engagement, Chief Ifeanyi Umeh.
Others are Technical Assistant to Executive Leadership, Mr Hassan Saleh; Senior Media and Publicity Advisor, Mr Emma Nwatu; Government Relations Advisor, Miss Homa Nmegbu; Senior Government Relations Advisor, Mrs Kate Allison, and Audio -Visual Advisor, Mr Dawood Ahmed.
Featured
FG Reaffirms Nigeria’s Stability As US Embassy Suspends Visa Appointments In Abuja Office
The Federal Government has reassured Nigerians and the international community of the country’s stability following a recent advisory by the United States authorising the departure of non-emergency personnel from its embassy in Abuja.
The Minister of Information and National Orientation, Mohammed Idris, stated this in a statement issued yesterday by his media aide, Rabiu Ibrahim.
According to the minister, public institutions across the country remain fully operational, with no disruption to governance, economic activities, or daily life.
This followed the decision of the United States Mission in Nigeria to suspend visa appointments at its Embassy in Abuja.
The mission’s decision was contained in a post shared on its official X handle, yesterday.
It stated, “U.S. Embassy Abuja is closed for visa appointments. Applicants should check their email for details on rescheduled appointments.”
The mission, however, clarified that visa operations at the U.S. Consulate General in Lagos remain ongoing.
The development comes amid a broader security advisory issued by the United States, which authorised the departure of non-emergency staff from its Abuja embassy and expanded its Nigeria travel blacklist to 23 states.
The State Department issued the authorised departure order on Tuesday, alongside an updated travel advisory that added Plateau, Jigawa, Kwara, Niger and Taraba to its highest warning category, “Do Not Travel.”
While the overall advisory rating for Nigeria remains at Level 3, “Reconsider Travel,” the department warned that some areas face increased risks due to crime, terrorism, unrest, kidnapping and limited healthcare availability.
According to the advisory, Americans are often targeted for kidnapping and robbery, while terrorist attacks continue to pose a threat across multiple locations, including markets, religious centres, hotels and public gatherings.
It also raised concerns about the state of emergency healthcare in the country, noting that hospitals often require immediate cash payments, ambulance services are unreliable and poorly equipped, and blood supply systems are inconsistent.
Medical facilities in Nigeria, the advisory said, generally do not meet United States or European standards, adding that evacuation may be necessary in medical emergencies.
The advisory further urged US citizens in Nigeria to enrol in the Smart Traveller Enrollment Programme, avoid large gatherings, vary their routines and maintain evacuation plans that do not depend on US government assistance.
It also recommended that individuals establish “proof of life” protocols with family members in the event of kidnapping.
The blacklist is divided into regional clusters. Borno, Kogi, Yobe and northern Adamawa remain under the terrorism, crime and kidnapping category, with the State Department warning that terrorist groups continue to plan and carry out attacks, sometimes in collaboration with local gangs.
For Bauchi, Gombe, Kaduna, Kano, Katsina, Sokoto and Zamfara, the advisory points to widespread banditry, communal clashes and kidnapping, while noting that security operations may occur without warning.
In the South-East and Niger Delta, states including Abia, Anambra, Bayelsa, Delta, Enugu, Imo and Rivers (excluding Port Harcourt) are flagged for crime, kidnapping and civil unrest, with armed gangs and violent protests posing significant risks.
The latest update added Plateau, Jigawa, Kwara, Niger and Taraba to the “Do Not Travel” list, citing the spread of insecurity into new regions, particularly in the Middle Belt where farmer-herder conflicts have intensified.
The advisory described the security situation in these newly added states as unstable and unpredictable, with counter-operations by security forces likely to occur without prior notice.
Idris, however, described the US advisory as a routine precaution based on internal protocols, stressing that it does not reflect the overall security situation in the country.
“While we acknowledge isolated security challenges in some areas, there is no general breakdown of law and order, and the vast majority of the country remains stable,” Idris said.
He noted that ongoing security operations have recorded measurable gains across several regions, attributing the progress to coordinated military efforts, intelligence-led interventions, and strengthened inter-agency collaboration.
“Our security agencies remain actively engaged in protecting lives and property, and the results of these efforts are increasingly evident,” he added.
According to the minister, recent operations have disrupted criminal networks, curtailed the activities of armed groups, and improved safety in vulnerable communities.
Idris also maintained that Nigeria remains open for business, travel, and investment, adding that ongoing economic reforms are strengthening investor confidence and enhancing the country’s global standing.
He said, “International partners and investors continue to engage actively with Nigeria, reflecting confidence in the country’s stability and long-term prospects.”
The minister urged foreign governments to ensure that their advisories reflect current realities and ongoing progress in the country.
“We encourage our international partners to continuously engage with Nigerian authorities to obtain a more comprehensive and current understanding of the situation on the ground,” he said.
The Federal Government reiterated its commitment to sustaining security improvements and ensuring the safety of citizens and visitors, assuring that Nigeria remains a safe and welcoming destination.
Featured
Fubara Visits Gas Emission Site, Donates N100m To Bille Kingdom,
Rivers State Governor, Sir Siminalayi Fubara, yesterday extended interim relief measures to the people of Bille Kingdom as the government intensifies efforts to address the ongoing environmental degradation affecting the area.
This was contained in a statement by the Head of Information and Public Relations Unit, Office of the Secretary to the State Government, Juliana Masi, yesterday.
The governor, during a working visit to Bille Kingdom in Degema Local Government Area, reassured residents of his deep concern for their health and well-being.
He reiterated his administration’s commitment to finding a lasting solution to the persistent gas emissions observed in the community’s land and water sources since November 2025.
Represented by the Secretary to the State Government, Dagogo Wokoma, the governor announced immediate interventions to address urgent needs.
Some of the relief measures include the provision of potable water and essential medical services through the release of ?100 million as palliative support for the affected community.
According to the SSG, “Governor Fubara remains deeply committed to the welfare of the people of Bille Kingdom. Although unable to attend in person due to pressing state engagements, he is fully aware of the situation and determined to tackle the root cause of the environmental challenge”.
The governor assured residents that the state government would not relent in its efforts to provide a permanent solution to the gas emissions, emphasizing that the current intervention is only a temporary measure to ease the suffering of the people.
He further urged members of the community to remain law-abiding and continue supporting his administration, noting that he has consistently demonstrated a track record of fulfilling his promises.
Earlier, the Chairman, Council of Chief for Bille Kingdom, Chief Bennet Dokubo, expressed joy over the State visit, describing Fubara as a leader who listens to the plight of the people.
He urged the governor to critically look into the gas emission which he described as dangerous to human health.
“If we take you into the river, we notice that the entire environment is bubbling and smelling.
“We most humbly urge you to critically look into this situation. This is something strange we have never experienced before. It is not good for human health,” the monarch stressed.
-
Editorial17 hours agoDomesticate FG’s Exit Benefit Scheme
-
News17 hours agoDHQ Confirms Deaths Of Terrorists, Soldiers In Borno Attack
-
News13 hours agoRSU Unveils Five-Year Strategic Dev Plan …Calls For Collective Commitment To Institutional Excellence
-
Rivers16 hours ago
Dep Gov Seeks Collaboration, Transparency Between RIVCHPP, PHCMB
-
News14 hours agoTinubu Commissions Bayelsa Gas Turbine, Other Projects Today
-
Nation13 hours ago
Rumuji Youth Leader Condemns Protest, Disowns Alleged Government Empowerment Claim
-
Featured16 hours agoFG Reaffirms Nigeria’s Stability As US Embassy Suspends Visa Appointments In Abuja Office
-
Nation14 hours agoHaniel Jack Foundation Awards Five Rivers Indigenes Scholarship
