News
‘FG Spent 91% Of Revenue On Debt Servicing In Six Months’
The Federal Government spent N2.02trillion on debt servicing in the first six months of this year.
This figure represents 90.5 per cent of the total revenue of N2.23trillion generated by the Federal Government within the period.
This was disclosed by the Technical Adviser to the Director General of the Budget Office, Alfred Okon while presenting the “Overview of FGN 2022 Budget Call Circular” report.
Okon made the presentation, yesterday at a training on “Government Integrated Financial Management Information System Budget Preparation Subsystem For Ministries, Department and Agencies.”
The report stated that as of June 2021, the Federal Government’s retained revenue was N2.23trillion, which is 67.3 per cent of prorata target of N3.3trillion for the review period.
The total revenue comprises oil revenue of N492.44billion, non-oil tax revenue of N778.18billion, Company income tax of N397.02billion, Value Added Tax of N129billion and Customs collections of N234.02billion.
Other revenues amounted to N922.09billion, of which Independent revenues was N558.13billion.
Okon noted that the N2.02trillion used to service debt in the first half of this year represented 35 per cent of total expenditure of N5.81trillion.
According to the report, “On the expenditure side, N5.81trillion (representing 92.4% of the prorated budget) has been spent. This excludes GOEs’ and project-tied debt expenditures.
“N2.02trillion was for debt service (35% of FGN expenditures); and N1.795trillion for Personnel cost, including Pensions (30.9% of FGN revenues).”
It stated that as of August, N1.3trillion had been released for capital expenditure, representing 22.3 per cent of total expenditure.
In his remarks, the DG, Budget Office, Ben Akabueze, reiterated the government’s commitment to ensuring the timely submission and approval of the 2022 budget.
To achieve this, he said the government has already deployed a series of activities, including engagements and stakeholder consultations.
The DG said, “The current Federal Ggovernment is determined to ensure consistent and timely preparation, submission and approval of annual budgets as part of its Public Financial Management (PFM) reforms, just as we have done for the 2020 and 2021 budgets.
“To achieve this, we have already commenced a series of activities related to the process of preparing the 2022 Budget.
“These include a series of engagements and stakeholder consultations with key revenue generating agencies, civil society organisations (CSOs), the National Executive Council (NEC), the National Assembly as well as the Federal Executive Council (FEC).
“Another key activity on the 2022 Budget Calendar is the training of MDAs’ personnel who will be involved in budget preparation.
“The main goal of this training is to provide continuous learning to equip budget personnel with the requisite knowledge, skills and the tools they require to prepare and submit the 2022 Budget in a timely manner.
“The budget is also intended to be in tandem with extant FGN policies and guidelines as articulated in the 2022 FGN Budget Call Circular and other relevant laws/policies.”
The Police Service Commission (PSC) has approved the promotion of over 3,800 senior police officers, including two Deputy Inspectors-General of Police, 10 Assistant Inspectors-General of Police and 17 Commissioners of Police.
The promotions followed the officers’ success in promotion examinations and oral interviews conducted by the commission.
The approvals were granted at the commission’s plenary meeting held in Abuja, yesterday, and presided over by its chairman, DIG Hashimu Salihu Argungu (retd.).
According to a statement by the Head of Protocol and Public Relations of the PSC, Torty Njoku Kalu, two AIGs, Olaolu Adegbite and Dankombo F. Morris, were promoted to the rank of DIG.
“Adegbite, who heads the INTERPOL National Central Bureau in Abuja, previously served as Director of Operations at the Economic and Financial Crimes Commission.
“Morris, who heads Zone 4 Headquarters in Makurdi, Benue State, previously served as Commissioner of Police in Adamawa State, ” the statement added.
The commission also approved the promotion of 10 CPs to the rank of AIG, including Omosanyin Olusegun, Ogbodo Ugobueze, Ohagwu Ndukwe, Taylor Olanrewaju, Regina Udoette, Afolabi Olutokunbo, Nwogoh Martin, Shetima Mohammed, Ibrahim Gotan and Danjuma IYahaya.
The statement listed them as Nache Bashir Liman, Sirajo Lawal Salihu, Ayeleye Adegboyega E., Isiaka O. Salau, Usman Shaik Adamu, Aminu Maiwada Garba, Abdulkarim Musa Waziri, Muhammad Yusuf Adamu, Sani Adamu Nufawa, Bello M. Adamu, Okezie Chikezie C., Aminu Usman Gusau, Abiodun Onuoha, Salisu Bello Fago, Adegoke A. Alani, Wuwa Auwal Muhammad and Benedict U. Agbo.
In other categories, 85 Assistant Commissioners of Police were promoted to DCP, 49 Chief Superintendents of Police to ACP, 245 Superintendents of Police to CSP and 498 Deputy Superintendents of Police to SP.
Notable among those promoted from SPs to CSPs is the FCT Command spokesperson, Josephine Adeh.
“245 SPs to CSPs, including SP Josephine Adeh (PPRO FCT Command), SP Suleiman Yahaya Nguroje (PPRO Adamawa), SP Abah James (Rivers State Command), SP Okere Romanus (DPO Isiowulu Division, Anambra), SP Ugochukwu Ozoude Alex (O/c Monitoring Unit Zone 9 Umuahia),” the statement said.
The commission also approved the promotion of 3,218 Assistant Superintendents of Police to the rank of DSP.
Congratulating the newly promoted officers, Argungu urged them to see their elevation as motivation to improve their performance.
He said much was expected of them in the discharge of their responsibilities, particularly in securing lives and property and enforcing the law.
The notice was signed by the branch secretary, Rachel C. Princewill, who urged members to take note of the decision and be guided accordingly.
According to the notification, the court-free day is intended to facilitate the participation of lawyers in the annual conference, which is scheduled to hold in Port Harcourt, Rivers State.
The conference is expected to bring together legal practitioners and other stakeholders in the administration of justice and the field of arbitration to discuss issues relating to dispute resolution and professional practice.
The announcement provides members of the Bar an opportunity to participate in the professional gathering without the usual demands of court proceedings on the designated date.
The Chartered Institute of Arbitrators is a professional body associated with the promotion and development of arbitration and other forms of alternative dispute resolution.
Arbitration remains an important mechanism for resolving commercial and other disputes outside conventional court litigation, helping parties explore alternatives to lengthy judicial proceedings.
The annual conference is therefore an important professional engagement for practitioners interested in strengthening their knowledge of arbitration and related dispute-resolution processes.
Members of the NBA Port Harcourt Branch have consequently been advised to make the necessary arrangements to attend the conference on the scheduled date.
The notification reaffirms the branch’s commitment to keeping members informed of developments affecting their professional engagements and participation in activities aimed at advancing legal practice.
The Tide had reported last week that the NBA had appealed to the State Chief Judge to declare free days for lawyers during the conference.
King Onunwor
Oforji, a former Chairman of Oyigbo Local Government Council, was among the returning lawmakers unveiled as candidates of the APC Rainbow Coalition at a ceremony held at the Yakubu Gowon Stadium in Port Harcourt last Tuesday.
The event attracted prominent political leaders from within and outside Rivers State, including the National Rainbow Coalition leader, Chief Nyesom Wike, and Rivers State Governor, Sir Siminalayi Fubara.
The presentation of the flag to Oforji was greeted with enthusiastic cheers from supporters, reflecting the political support he enjoys in Oyigbo and the wider Rivers political landscape.
His emergence as the coalition’s candidate is a significant step in his bid to return to the State Assembly, where he has continued to participate in legislative activities representing the interests of his constituency.
Oforji is also regarded as one of the lawmakers who maintained strong political loyalty to Chief Wike during periods of intense political realignment in Rivers State, a position that has remained a notable feature of his political journey.
The mammoth crowd of supporters who accompanied him to the ceremony further underscored the enthusiasm surrounding his re-election bid and the political significance of his candidacy in Oyigbo.
With the presentation of the Rainbow Coalition flag, Oforji is set to enter the 2027 electoral contest under the APC platform, seeking another mandate to represent Oyigbo State Constituency.
His candidacy also adds another chapter to the political history of Oyigbo, particularly given his previous experience as local government chairman before his election to the State Assembly.
The Oforji family equally occupies a place in the political history of Oyigbo, with the late Precious Oforji remembered for his contributions to the area’s political development. The family’s legacy continues to feature in discussions about the constituency’s political evolution.
As the 2027 elections approach, Oforji’s re-election bid will place his record in the State Assembly, political alliances and relationship with his constituents at the centre of the contest for the Oyigbo seat.
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