Nation
N2.2tr Not Missing, DMO Admits
The Debt Management Office (DMO) has declared that N2.2trillion which could not be traced by the National Assembly is not missing.
The DMO, in a press release issued, yesterday, said “the provisions in the Annual Appropriation Acts for Debt Service, including the 2018 Appropriation Act, are dedicated for Debt Service payments only.”
This item in the annual budget the DMO explained “is for the repayment of Principal, Interest and Other Charges for both Domestic and External Debt.”
The DMO added that “funds for Debt Service are never released to the DMO for spending, rather, in line with the mandate of the Office of the Accountant-General of the Federation (OAGF), the funds are domiciled with the OAGF, who on the advice of the DMO, effects payments directly to the creditors as at when due.”
The allocation for debt servicing the DMO said is paid to creditors which include multilateral and bilateral lenders like the World Bank, African Development Bank, Exim Bank of China, investors in Nigeria’s Eurobonds.
Others are, “investors in securities issued in the domestic market such as FGN Bonds, SUKUK, Green Bonds and Nigerian Treasury Bills.”
The servicing of the public debt the DMO states “is absolutely necessary to ensure that Nigeria remains credit-worthy and retains or improves on its sovereign rating which ultimately, will support growth and development.”
This reason and for transparency purposes, the DMO noted is why “Debt Service is expressly provided as a line item in the Annual Appropriation Acts.”
It was alleged recently that the Debt Management Office (DMO) was unable to account for the N2.2trillion allocations to the DMO in the 2018 Appropriation Act.
The DMO had appeared before the Public Accounts Committee of the House of Representatives. The Committee had enquired about the utilisation of the N2.2trillion provided in the 2018 Appropriation Act; of which N2.1trillion was allocated for Debt Service and the DMO’s appropriation of N721, 251,798.00, making it N2.2trillion.
The DMO explained to the Public Accounts Committee that the amount of N2.2trillion was not available as the DMO’s total allocation since N2.1trillion was specifically meant for servicing of Nigeria’s Domestic and External Debt.
This explains why the Debt Service is expressly stated as a separate line item in the annual Appropriation Acts, while the DMO’s Expenditure is also stated separately.
Nation
Gombe Opens Bid For Construction Of Three-Arm Zone Project
Gombe State Ministry of Works, Housing and Transportation has opened bids for the construction of three arms zone complexes within the Gombe Capital Special Development Zone which held at the Ministry’s conference hall.
Speaking while presiding over the bid opening proceedings, the Commissioner, Engr. . Usman Maijama’a Kallamu assured the bidders that the bid opening would be carried out using procurement process which is based on specific regulations that are credible, fair, and transparent.
The Commissioner, who was represented by the Permanent Secretary of the Ministry, Alh. Idris Yambiu Buba said that the Ministry will continue to align itself for optimal results in the implementation of government policies and projects in line with Governor Muhammadu Inuwa Yahaya’s commitment to bringing development to the State.
While assuring the bidders of a transparent process, the SSA to the Governor on Special Project, Arch. Yakubu Mamman thanked Governor Muhammadu Inuwa Yahaya for his foresight in infrastructural development of the State, adding that government is committed to ensuring that all bidders had an equal chance to participate and compete based on merit to maintain standards and specifications.
Nation
Gov Mbah Signs Bill To Establish Teaching Hospital In Enugu
Governor of Enugu State, Dr Peter Mbah, yesterday, signed the Enugu State University of Medical and Applied Sciences (SUMAS) Teaching Hospital Bill 2024 into Law, promising to expedite action to actualise the teaching hospital immediately to provide quality training and healthcare services in the Enugu North part of the State and the State in general.
Mbah, while commending the Enugu State House of Assembly for accelerating action on the processing and passage of the Executive Bill, said that establishing SUMAS Teaching Hospital was in line with his manifesto.
He said, “What we have done by signing into law the Enugu State University of Medical and Applied Sciences Teaching Hospital Bill is that we now have in place a legal framework to immediately begin to put in place all that is required to upgrade SUMAS to a teaching hospital. This is part of our campaign promises and we are committed to delivering on that expeditiously.
“We believe that the importance and significance of siting a teaching hospital in our Enugu North zone can never be lost on us. So, we are not going to spend any time in making sure that everything that is necessary and required to upgrade and get the teaching hospital operational is put in place. With this Law, we are going to redouble our commitment and our efforts to achieve that.”
He assured the Governing Council and the Management of SUMAS of his continued support, adding that his administration would equally be counting on their pedigree and contacts to bring the teaching hospital to fruition in record time.
“We are going to continue to support you and we are also going to continue to count on your experience, network, and profile in raising resources to actualize the project.
“This year alone, we are going to spend 33 per cent of our budget on education. This underscores the importance of education to this administration. So, be sure to come to us whenever there is a need. We are going to support you because we are interested in education and we are investing heavily in it,” he said.
On his part, the Speaker, Enugu State House of Assembly, Hon. Uchenna Ugwu, who also spoke at the Bill signing witnessed by the Chairman of SUMAS Governing Council, Msgr. Obiora Ike, and the Vice Chancellor, Prof. James Ogbonna, and top hierarchies of the institution, commended Governor Mbah’s speed and faithfulness in delivering on his campaign promises. He assured that the House of Assembly was ever ready to fast-track every executive bill that would impact positively on the state and its people.
“We promised we are going to support this administration by doing our job expeditiously to ensure that there is no delay in your delivery of democracy dividends to our people. Therefore, the SUMAS Teaching Hospital Bill received expedited hearing and today you have the signing of the bill into law,” he stated.
Nation
Ododo Applauds Security Agencies Over Rescue Of 43 Bus Passengers
Kogi State Governor, Ahmed Usman Ododo has applauded security agencies in the State for their efforts in the rescue of 43 bus passengers.
The Special Adviser on Media to the Governor, Ismaila Isah disclosed this in a statement yesterday.
The statement noted that the governor welcomed the news of the release of the abducted bus passengers in Okehi Local Government Area of the State and called for sustained collaboration between security agencies and local communities to improve intelligence gathering and prevent crime and criminality in all parts of the state.
Ododo commended the caretaker chairman of Okehi LGA, Mr Amoka Eneji, the Nigeria Police, Nigeria Professional Hunters, Ebira Local Hunters Group and other security agencies for their intervention, which led to the rescue of the passengers who were abducted outside the state.
“Governor Ododo also commends the response of security agencies to the robbery incidence in Felele area of Lokoja and called for more urgency in addressing cases of insecurity in any part of the state.
“The Governor reassured the people of the state that his administration will not relent in its efforts in deploying maximum resources to ensure that all communities in the state remain unsafe for criminal elements.”
-
News3 days ago
‘God Sent Fubara To Liberate Rivers People’
-
Nation3 days ago
Ebonyi Community Petitions Nwifuru, Police Over Insecurity
-
News1 day ago
US Bans Underaged Children From Having Social Media Accounts
-
News1 day ago
Group Begins Mobilisation For Fubara
-
Business3 days ago
Food Vendors, Others Relocate To New Site At PH Airport
-
News3 days ago
Don’t Let Kanu Die In DSS Custody, Family Begs Tinubu
-
Niger Delta3 days ago
Easter: Diri Tasks Bayelsans On Love
-
Sports1 day ago
Ilechukwu Eyes NPFL Title After Win Against Heartland