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2021 Budget: Senators Divided Across Party Lines

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As the Senate begins consideration of the general principles of the Budget proposal for 2021 fiscal year, yesterday, members of the Upper Chamber have expressed divergent opinions on workability of the N13.08 trillion proposal.
While the Senate Majority Leader; Senator Yahaya Abdullahi, painted a picture of a budget of hope, some of the lawmakers from the other divide saw it from a different angle.
Leading the debate, the Senate Leader, Yahaya Abdullahi, noted that the Senate leadership was fully aware of the proposed parameters in the budget proposal.
He, therefore, urged his colleagues to critically look at the proposals and ensure that all rough edges were fine-tuned.
His words: “It is important to note at the outset, that this proposal is not strange to the leadership of the National Assembly and the Committees of Finance and National Planning. All the parameters were discussed and agreed upon, at least in principle.
“What remains for us is to closely examine the contents and the details in order to sort things out and smoothen the rough edges.
“A budget deficit of N5.19 trillion represents 3.64% of GDP, and is therefore, above the threshold set by the Fiscal Responsibility Act, 2007.
“Even though the deficit is covered by N4.28trillion of new borrowing and funds obtainable from privatization proceeds and multilateral and bilateral sources, it is important for our committees on Finance to raise the matter for the National Assembly to permit this increase, as specified in the extant law, particularly given the special circumstances which made this necessary.
“It is also important to note that a budget deficit of this size requiring more indebtedness is not healthy for the long-term development of the country, but this must be tolerated now because of the challenges of the times”, he said.
While most of the PDP senators, who contributed to the debate, picked holes in the budgetary proposals, their APC counterparts said as bad as the situations on ground are, the budgetary proposals can still bring about required recoveries in various sectors of the nation’s economy as anticipated by President Muhamnadu Buhari, who christened the budget as one of “Recovery and Resilience”.
Other APC Senators like Aliyu Sabi Abdullahi, Orji Uzor Kalu, Uba Sani, Adamu Aliero, and Ibikunle Amosun, spoke in same direction, and expressed hope in the workability of the budgetary proposals.
However, the Senate Minority Leader, Enyinnaya Abaribe, in his contribution, dissected the budget proposals, and described it as mere old news.
According to him, “The 2021 Appropriation Bill proposes to spend N13.082trillion, with expected revenue of N7.886trillion and a deficit of N5.196trillion. As with the other budgets over the last few years, it looks impractical and unimplementable.
“The major challenge, as with previous budgets, is with revenue and an overly optimistic revenue target. The 2021 budget hopes that the federal government will be able to generate almost N8trillion. If history is anything to go by, this projection looks impossible.
“This overly optimistic position is not new in Nigeria but is part of a continuing pattern of false
optimism that has put the federal government’s accounts in the deep red and the country in dire straits.
“To demonstrate this point, the observers need to look at the performance of previous approved budget revenues and what were achieved as actual revenue.
“In 2016, Nigeria had an approved budget with revenue of N3.855trillion. By the end of the year, the total retained revenue was only N2.621trillion.
“This performance was a 32 percent shortfall, according to the budget implementation reports. In 2017, instead of trying to readjust to the reality of a difficult revenue situation, Government of Nigeria repeated the same overly optimistic exercise. The approved budget had revenue of N5trillion while actual revenue that year was only N2.37trillion.
“This performance was a whopping 53 percent shortfall. In 2018, Federal Government of Nigeria
repeated the same thing by submitted a budget that expected revenue to jump from N2.37trillion to N7.165trillion. By the end of the year, actual revenue was only N3.48trillion; a 51 percent shortfall. The story was the same in 2019 and 2020. In 2019 the revenue shortfall was 41 percent and so far in 2020 the shortfall is 38 percent.
“Here we are in 2021 and the submitted budget expects revenue to be N7.886trillion. Based on the half year numbers, Nigeria would be lucky to realise N3.3trillion in revenue in 2020 by the end of the year. Yet, the Executive expects revenue to increase by over 200 percent in 2021.
“When the Executive announces a N13trillion budget, the ministries and agencies take it as a signal that the largess can continue. A casual look at the Appropriation Bill contains items like SUVs for chief executives and fancy office buildings for agencies whch really do not need them.
“All of these things will count as “capital expenditure” without adding much to the productive ability of the economy. At a time when the Executive is on the verge of a serious fiscal crisis some of these proposed spending items are unnecessary.
“The budget betrays a lack of understanding of how modern economies functions.
Other PDP Senators; including Ike Ekweremadu, Gabriel Suswam, Oker Jev, among others, made their presentations against workability of the budget.
Debate on the general principles of the 2021 budget continues today, and tomorrow.

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Ibas Inaugurates RSIEC, Service Commissions, Healthcare Board In Rivers  …Charges Appointees To Embrace Principles Of Service 

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The Administrator of Rivers State, Vice Admiral (Rtd) Ibok-Ete Ibas, has charged newly appointed Board members to uphold the highest standards of discipline, competence, integrity, and unwavering dedication in their service to the State.

 

He emphasized that such commitment is critical to stabilizing governance, restoring democratic institutions, and advancing the principles of good governance in the State.

 

 

 

This was contained in a statement by the Administrator’s Senior Special Adviser on Media, Hector Igbikiowubo on Monday.

 

 

 

Ibas issued the charge on Monday while inaugurating the reconstituted Rivers State Independent Electoral Commission (RSIEC), Rivers State Civil Service Commission, Rivers State Local Government Service Commission, and the Rivers State Primary Health Care Management Board at Government House, Port Harcourt.

 

 

 

The Administrator urged the new appointees to embrace their roles with diligence, patriotism, and a commitment to transforming Rivers State through excellent service.

 

 

 

Addressing the Chairman and members of RSIEC, Ibas underscored their pivotal role in ensuring credible local government elections that reflect the will of the people.

 

 

 

“Your task is clear but demanding: to conduct free, fair, transparent, and credible elections at the grassroots level. You must resist bias, favoritism, and external interference while restoring public confidence in the electoral process,” he stated.

 

 

 

“The independence of your actions is crucial to sustaining peace, stability, and grassroots governance. I urge you to act with fairness, impartiality, and professionalism—even in the face of difficult choices,” Ibas added.

 

 

 

The Sole Administrator also charged the Rivers State Civil Service Commission on the need to eliminate mediocrity and foster a culture of excellence through merit-based recruitment, training, and promotions.

 

 

 

“The civil service must transition from favoritism to competence, integrity, and accountability. Your commission will lead reforms, including digital transformation and standardized practices across ministries, departments, and agencies,” he said.

 

 

 

He disclosed that extensive training programmes are underway, with a committee set up to overhaul the public service framework for greater efficiency.

 

 

 

Meanwhile, Ibas urged the Rivers State Local Government Service Commission to ensure professionalism and discipline in local government administration.

 

 

 

“As the closest tier of government to the people, you must drive reforms that insulate the system from politics and mediocrity. Your mandate includes merit-based recruitment, training, and enforcing standards for effective service delivery,” he stated.

 

 

 

In the same vein, the Administrator charged the Rivers State Primary Health Care Management Board with revitalizing healthcare delivery across the state’s 23 local government areas.

 

 

 

“Primary healthcare is the foundation of a sustainable health system. Your board must ensure facilities are adequately staffed, equipped, and operational focusing on maternal health, immunization, malaria control, and community health services,” he said.

 

 

 

He emphasized data-driven operations, incentives for rural health workers, and restoring the referral system to improve healthcare access.

 

 

 

He also assured the Board of sustained government support, including funding, for the effective discharge of their mandates but warned that board members would be held accountable for their performance.

 

 

 

The newly inaugurated members include: RSIEC: Dr. Michael Ekpai Odey (Chairman) with Prof. Arthur Nwafor, Prof. Joyce Akaninwor, and others as members.

 

 

 

Civil Service Commission: Dr. Livinus Bariki (Chairman), Amb. Lot Egopija, Mrs. Maeve Bestman, and others.

 

 

 

Local Govt. Service Commission: Mr. Isreal Amadi (Chairman), Rear Adm. Emmanuel Ofik (Rtd), Dr. Tonye Pepple, and others.

 

 

 

Primary Health Care Board: Dr. Dawari George (Chairman), Dr. Chituru Adiele (Executive Director), Prof. Kaladada Korubo, and representatives from key ministries.

 

 

 

 

 

 

 

 

 

 

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Rivers PDP Debunks Sale Of LGA Election Forms

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The Publicity Secretary of the Peoples Democratic Party (PDP) in Rivers State, Dr. Kenneth Yowika, has debunked claims that the party has commenced sale of forms for chairmanship and councillorship elections across the 23 local government areas of the state.

 

Yowika made the rebuttal in a statement made available to newsmen on Wednesday, describing the publication on the social media as baseless and untrue.

 

He urged members of the PDP to disregard the claim, saying that official communication regarding the sale of forms would be disclosed through the appropriate channels.

 

“With reference to information trending on social media, it has been falsely claimed that the sale of forms for Chairmanship and Councillorship elections in the 23 Local Government Areas (LGAs) of Rivers State will begin soon.

 

“However, the party has firmly denied these rumours, stating that they are baseless and untrue.

 

“The party has its own established methods of reaching out to its numerous supporters.

 

“The People’s Democratic Party, a law-abiding organisation, will patiently await the release of guidelines from the recently inaugurated Rivers State Independent Electoral Commission (RSIEC) before considering any sale of election forms.

 

“The PDP is urging its members to remain calm as official communication regarding the sale of forms will be disclosed through appropriate channels,” the statement read.

 

Enoch Epelle

 

 

 

 

 

 

 

 

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South-South contributes N34trn to Nigeria’s economy in 2024 – Institute

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Prof. Pius Olanrewaju, President of the Chartered Institute of Bankers of Nigeria (CIBN), has stated that the South-South region contributes N34 trillion to country’s economy in 2024.

He made the remark at the South-South Zonal Banking and Finance Conference in Calabar, yesterday.

He spoke on the theme, ‘’Building An Inclusive South-South: Economic Diversification as a Catalyst For Development.’’

Olanrewaju, who quoted the data from the Cable Data Index, said the feat was more than 21 per cent of Nigeria’s real Gross Domestic Product (GDP).

The president described the growth as ‘’ impressive,’’ saying that it was not driven by oil alone but significant expansions in trade, services, and the creative industries.

According to him, to fully harness this potential, coordinated financial, technological, and policy support is essential.

“As we work to reposition the South-South for broad-based prosperity, the financial system must play a central role, not merely as a source of capital, but as a catalyst for innovation, ideas incubation, and inclusive economic growth.

“This conference, therefore, provides a strategic opportunity for stakeholders to reimagine the South-South economy, not merely as a resource belt, but as a region of diverse capabilities and resilient enterprises.”

Olanrewaju added that Nigeria must move beyond old models and chart a new course for the development of the South-South region, where financial institutions and stakeholder collaborate to diversify the economy for shared prosperity.

He,  however, commended Gov. Bassey Otu for his pledge of land for CIBN Secretariat in Cross River and being the first sitting governor to willingly undergo and complete the Chartered Bankers Programme.

On his part, Gov. Otu said that the conference discussion on the economic diversification in South-South region was timely against the backdrop of global trade and economic volatility that was affecting the nation’s economy.

Represented by his deputy, Mr Peter Odey, Otu said the South-South region must now act with urgency to diversify its economy while leveraging its shared natural endowment in agriculture and extractive resources.

“This conference must help develop tailored financial solutions that reflect the unique strengths and realities of states like Cross River in the south-south.

“Diversification should be evidence-based and must be backed not just by financial advice but project focused financing and real investment support,” he noted.

He said that Cross River had taken the bold step to invest in its agricultural sector by launching an Agro processing hub.

Otu further said that the state had invested in aviation by acquiring more aircrafts for Cally Air, construction of the Bakassi Deep Seaport and injecting N18 billion in its tourism sector.

Similarly, Mr Tolefe Jibunoh, Cross River Branch Controller of the Central Bank of Nigeria (CBN) said that the region was blessed with natural resources, cultural diversities and immense human potentials.

Jibunoh, who was represented by Mr Segun Shittu, Head, Currency Control Office, CBN, Calabar, noted that strategic diversification could unlock unprecedented opportunities for growth in the region.

He added that the CBN remained steadfast to maintain monetary possibilities and promote a sound financial system as a catalyst for sustainable economic development for the benefit of all.

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