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FG Records N5.33tn Deficit In Eight Months
Amid Nigeria’s tight fiscal space, the Federal Government has recorded a deficit of N5.33trillion between January and August 2022, which is N430.82billion above the prorate level.
The government spent N9.56trillion from January to August 2022, out of N11.55trillion pro rata expenditure projected for the period.
Of the N9.56trillion spent in eight months, N3.52trillion was expended on debt service while N2.89trillion was used for personnel costs and pensions.
The total expenditure projected for the whole of 2022 is N17.32trillion.
Speaking during the ministerial presentation of the 2023 budget in Abuja, Minister of Finance, Budget and National Planning, Dr Zainab Ahmed, said the Federal Government’s retained revenue was N4.23trillion as of August 2022, representing 64per cent of the pro-rata target of N6.65trillion.
She disclosed that the Federal Government’s share of oil revenues in 2022 was N395.06billion, representing 27.1per cent performance, while non-oil tax revenues totalled N1,549.91trillion, indicating 102.9per cent performance.
Ahmed further revealed that the Companies Income Tax and the Value Added Tax collections this year totalled N826.27billion and N210.36billion, respectively, representing 136.3per cent and 99.6per cent of their respective targets.
Customs’ collections comprising import and excise duties, fees, and federation account special levies fell short of the target by N102.51billion (17per cent).
“The Customs introduced that thing and it has created a lot of revenue setbacks for the government. The government should look at it seriously and reduce it and cancel the VIN. It is illegal and should be cancelled,” Founder of the National Council of Managing Directors of Licensed Customs Agents, Mr Lucky Amiwero, said.
According to Ahmed, the key parameters and other macroeconomic projections driving the medium-term revenue and expenditure framework had been revised in line with the emergent realities, including the GDP growth (from 4.20 to 3.55per cent in 2022 forecast).
For the 2023 budget, she said investment, especially from foreign sources, was expected to be hit by interest rate hikes in advanced economies, foreign exchange management concerns in Nigeria and other domestic challenges, including insecurity.
“Overall budget deficit is N10.78trillion for 2023. This represents 4.78percent of GDP,” Ahmed said, noting that budget deficit would be financed mainly by borrowings from domestic sources (N7.04trillion); foreign sources (N1.76trillion); multilateral/bi-lateral loan drawdowns (N1.77billion), and privatisation proceeds (N206.18billion).
The Federal Government, in 2020, launched the Strategic Revenue Growth Initiative with a view to tapping sources that would boost and diversify Nigeria’s revenue base.
But revenues have not fared so well since then, with debt service hurting the country’s fiscal outlook.
Director-General of the Budget Office of the Federation, Ben Akabueze, said the government had significantly enhanced the use of technology in the budget process, including service- wide implementation of the GIFMIS Budget Preparation System.
He said in a bid to enhance budget comprehensiveness and transparency, the Federal Government’s budget now included all projects funded by bilateral/multilateral loans, donor-funded programmes/projects as well as the revenues and expenditures of 63 major government-owned enterprises/regulatory agencies.
News
FG approves 3 critical civil service policies
The Federal Government has approved three transformative policies aimed at boosting productivity and enhancing service delivery across the civil service. These are the Rewards and Recognition Policy, the Incentive and Consequence Management Policy, and the Civil Service Mentoring Policy.
The approval was granted during the Federal Executive Council meeting presided over by President Bola Tinubu.
The move marks a new era of performance-driven governance, strategic talent development, and enhanced accountability, with the policies designed to work in synergy to motivate staff, foster a culture of excellence, and significantly improve service delivery to Nigerians.
According to a statement signed by MrsEnoOlotu, Director of Information and Public Relations, the Head of the Civil Service of the Federation, MrsDidi Esther Walson-Jack, affirmed that the policies are central to staff welfare and the enhanced value proposition of civil servants and also align with the 2021 Public Service Rules (060101–060111).
She commended the President for his commitment to transforming the civil service and fostering a workplace culture that is efficient, productive, incorruptible, and citizen-friendly. The Head of Service noted that the approval demonstrates the government’s firm resolve to value public servants, reward excellence, and systematically groom the next generation of leaders.
The Rewards and Recognition Policy establishes a comprehensive framework designed to attract, nurture, develop, and retain top talent within the service. It seeks to promote excellence, innovation, and continuous improvement, thereby strengthening overall institutional performance.
The Incentive and Consequence Management Policy introduces a clear, transparent, and equitable system where exceptional performance is rewarded and under-performance is addressed through structured corrective measures. It aims to entrench fairness and accountability at all levels while providing developmental support to staff requiring improvement.
The Civil Service Mentoring Policy, described as a strategic investment in the future of the service, is intended to bridge experience gaps and ensure the systematic transfer of institutional knowledge.
“It will equip the next generation with the requisite skills, values, and ethical grounding for strategic leadership, while preserving invaluable institutional memory against the tide of retirements, thereby ensuring continuity and sustained excellence,” the statement added.
MrsWalson-Jack reiterated that the President’s approval for the implementation of these policies is not merely an administrative milestone, but the foundation upon which a modern, agile, and empowered civil service will be built. She assured civil servants that their dedication will be recognised, excellence rewarded, and personal growth supported.
News
RSG CHARGES JOURNALISTS TO SHOWCASE GOVT PROGRAMMES
The Rivers State Government has charged journalists to serve as a bridge between the government and the people by reporting effectively on government’s policies, projects, programmes and achievements, thereby keeping the public informed on its activities.
The Secretary to the State Government, Dr. BeniboAnabraba, gave the charge during a courtesy visit by the Nigeria Union of Journalists (NUJ), Rivers State Council, led by the Chairman, Mr. Paul Bazia-Nsaneh, in Port Harcourt.
Dr. Anabraba emphasized that as the fourth estate of the realm, journalists owe the public a duty to provide a platform for constructive criticism of government and serve as watchdog of society.
He indicated that public opinion via the mass media is significant to help the government appreciate public perception, and also to create awareness on government initiatives, programmes and policies as they affect the citizenry.
“As a Government, we also appreciate the fact that you are our partner in conveying government policies and activities to the people, for their consumption, appreciation and review. We implore you to continue to publicise matters of importance in governance and encourage civic participation particularly on issues such as civil rights, voters’ registration, actions against gender-based violence, etc.
“You also have an obligation to promote morality and balanced criticism of government,” he stated
The chairman of the Rivers Council of NUJ, Mr. Paul Bazia-Nsaneh thanked the State Government for receiving them and intimated him of their desire to work with the government.
He explained that the union is poised to positively portray the State through an agenda of development communications, adding that the union has also outlined strategic projects to this effect.
“As a union, we need to change the narrative and to talk about development communications. If we don’t put out the opportunities that are available in River State, then we can not have people who will be interested in investing in the opportunities that are available to us. So we decided to put out some key areas that we need to focus on development communication trajectory,” he added.
News
Police Arrest Sex Trafficking Syndicate, Rescue 15 Young Girls InOndo
The Police Command in Ondo State says it has dismantled a notorious sex trafficking syndicate exploiting young women under the guise of job recruitment and social media content creation.
This is contained in a statement signed and made available to newsmen, yesterday, in Akure by the command’s spokesperson, DSP OlusholaAyanlade.
Ayanlade said one Jayeola Joshua was arrested along with two others, while 15 young girls aged 20 to 26, accommodated in an apartment in Alagbaka, Akure, for illicit activities, were rescued.
The Police spokesperson, who said the sex syndicate was arrested by the command’s Special Weapons and Tactics (SWAT), explained that efforts were on to apprehend the remaining accomplices.
According to him, investigations revealed that the syndicate lured victims across the country with false promises of lucrative employment, including domestic work, ushering services, and overseas placements.
He said the syndicate’s arrangement not only facilitated exploitation but also highlighted how organised criminal elements prey on the vulnerability of unsuspecting young women seeking legitimate opportunities.
“Further inquiry uncovered that the victims were manipulated into sending nude images and videos, which were subsequently transmitted to clients procuring sexual services.
“The principal suspect reportedly received the largest share of the proceeds, while the operation was disguised as producing “relationship content” on social media, misleading the public and masking criminal intent.
“Following the rescue, the 15 victims were taken to the Police Hospital, Akure, for medical care, psychological evaluation, and counseling,” he said.
Ayanlade explained that evidence indicated the apartment was specifically rented to facilitate these activities, prompting the Commissioner of Police (CP) to direct the landlord’s invitation for questioning as part of the ongoing investigation.
He also stated that the CP directed the case be transferred to the command’s Gender Desk for further investigation, counseling, and the reintegration of the victims into society.
According to the spokesperson, the CP issued a marching order that all arrested suspects must be prosecuted to demonstrate the command’s zero-tolerance stance on human trafficking and sexual exploitation.
“This reaffirms the command’s determination to eradicate criminal and sex networks engaged in human trafficking and sexual exploitation,
“The CP has urged parents and guardians to verify job offers and recruitment agents before allowing their wards to travel.
“He also encouraged the public to remain vigilant and provide credible information that can aid in preventing and detecting crime across the state, underscoring the vital role of community partnership in maintaining public safety,” he said.
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