News
FG Releases N100bn Consumer Credit Fund For Manufacturers
The Federal Government says it will provide the sum of N100 billion through consumer credit fund to support the manufacturing sector.
Minister of Budget and Economic Planning, Sen. Atiku Bagudu, said this while briefing newsmen on clarifications on the implementation of 2024 Appropriation Act, in Abuja yesterday.
Bagudu, who noted that the manufacturing sector was facing serious challenges, said that the fund would help to revive the sector.
“Our economy can gain if many people can pay for goods and services over a period of time just as it’s being done around the world. And it will help our manufacturing sector.
“The Consumer Credit is a veritable tool to provide access to goods and services to a lot of Nigerians. A committee is working on this.
“It has not been implemented. The money has not been withdrawn; the fund is a catalytic fund and it’s expected to grow,” he said.
The minister said that government was also providing N100 billion for agriculture sector.
He said that the fund was supposed to attract more funding so that the mortgage industry would grow bigger.
Bagudu further stated that government had equally made available N100 billion Energy Transition Fund to support the provision of Compressed Natural Gas (CNG) vehicles.
He said that when fuel subsidy was removed, government quickly provided N100 billion to support the provision of CNG vehicles which would consume less gas than fuel.
Bagudu added that a total of N60 billion had also been provided as student loan.
He said that although N50 billion was captured in the budget, another N10 billion was appropriated in the supplementary budget.
He said that the fund was part of efforts to cushion the effects of hardship on students.
“There was a N10 billion provision in the supplementary budget. Right now, we have N60 billion of student loan in the two budgets.
“We believe that our students should have an additional option,” he said.
The minister said that the federal government had also made provision for Youth Development Fund and Project Preparation Fund.
He used the opportunity to douse the tension surrounding the alleged padding of the 2024 budget to the tune of N3.6 trillion.
According to him, the word, ‘padding’ is a tautology and it’s now seen in negative form.
He said that while the constitution allowed the president to present a budget document to the National Assembly, the national assembly, on the other hand, had the right to add or subtract from the budget.
“In fact, the National Assembly has the last word when it comes to appropriation. So, they have the right to increase budget line,” he said.
The minister, however, said that when the constitutional rights were performed by the national assembly, it should not be seen as padding.
“When people talk about padding, the word has been narrowed to a negative form. Whereas in reality, there can be no appropriation without either addition or subtraction,” he said.
Bagudu said that the president submitted to the national assembly a consolidated revenue fund of N27,503,404,073,861, adding that the legislative body authorised a consolidated revenue fund of N28,777,404,073,861.
News
Horsfall’s Legacy ‘ll Inspire Generations Yet Unborn -Fubara
Rivers State Governor, Sir Siminalayi Fubara, has described the late Chief Albert Korubo Horsfall as a distinguished statesman whose contributions to national development brought honour and distinction to the Kalabari Kingdom and Rivers State.
Fubara said Horsfall’s life of service, patriotism, integrity and commitment to humanity had left an enduring legacy that would continue to inspire generations.
The governor spoke through the Secretary to the Rivers State Government, Dr Dagogo Wokoma, at the funeral service of the late elder statesman last Saturday in Buguma, Asari-Toru Local Government Area of the State.
He described Horsfall as a patriotic Nigerian whose leadership and dedication to the country’s development earned him a place in the nation’s history.
“Chief Horsfall was a distinguished statesman whose life was defined by service, patriotism, integrity and commitment to humanity.
“His contributions to our nation, particularly through his service as Director-General of the State Security Service, pioneer Director-General of the National Intelligence Agency and Chairman of OMPADEC, remain significant milestones in our national history,” Fubara said.
The governor noted that the late Horsfall’s contributions to national security, intelligence administration and the development of the Niger Delta would remain part of his enduring legacy.
“His legacy of leadership, national service and dedication to development will remain an enduring source of inspiration to generations yet unborn,” he added.
Fubara urged the bereaved family, the Kalabari people and other Nigerians to uphold the values of peace, unity and selfless service exemplified by the late elder statesman.
The funeral service attracted several dignitaries, including the Director-General of the Department of State Services (DSS), the Director-General of the National Intelligence Agency (NIA), a representative of the Bayelsa State Governor, the Managing Director of NDDC, Chairman of PENDEF and the Regent of the Kalabari Kingdom.
Also in attendance were the Rivers State Commissioner for Education, the Commissioner for Special Projects and other government officials, traditional rulers and stakeholders.
News
Fubara Reaffirms Commitment To Grassroots Dev
Rivers State Governor, Sir Siminalayi Fubara, has reaffirmed his administration’s commitment to partner with local government councils that prioritize the welfare and development of people at the grassroots.
Fubara stated this last Thursday in Nkoro Town during the commissioning of the newly built Sir Siminalayi Fubara Corps Members’ Lodge, executed by Hon. James A. James, the Chairman of Opobo/Nkoro Local Government Area.
Represented by his Chief of Staff, Mr Sunny Ewule, the governor said the project goes beyond a building to represent hope, hospitality and responsible leadership.
According to him, providing decent and safe accommodation for Nationl Youth Service Corps (NYSC) members who leave their comfort zones to serve in communities is the least government can do.
“Today we are not just commissioning a building, we are commissioning hope, hospitality and responsible leadership. The Chairman of Opobo/ Nkoro LGA, Hon. James A. James has understood a very simple truth that those who come to serve us must serve with dignity,.
“Our young graduates who serves under the NYSC scheme leave the comfort of their homes and travel far to contribute to our communities, they teach our children, they work in our health centres, and they become parts of our families.
“The least we can do is give them a decent, safe and befitting place to lay their heads. What Hon. James A. James has done today is in total alignment with the vision of this administration, an administration that believes in people, that prioritises welfare and that believes development must be felt in every local government and not just in Port Harcourt” he said.
Fubara further urged the beneficiaries of the corpers lodge to make good use of the facilities of the newly built edifice and be good ambassadors of Nigeria, respect the culture and traditions of the host community while continue to serve with dedication and patriotism.
“This Corpers lodge will enhance the security and welfare of serving corps members, boost their morale and make Opobo/Nkoro and even more attractive place for posting, it is a strategic investment in human capital and in peace building,” he said.
He commended the Opobo/Nkoro Council Chairman for aligning with his administration’s vision of ensuring development is felt in all 23 local government areas of the State, and not just in Port Harcourt, adding that the lodge is a strategic investment in human capital, security and peace building.
In his goodwill message, the Rivers State NYSC Coordinator, Mr. Moses Oleghe, said the accommodation was 85 percent of Corps members’ challenges.
Oleghe thanked Governor Fubara for the recent increase in the State allowances for Corps members to N35,000 for those in 21 rural areas and N20,000 for those in Obio/Akpor and Port Harcourt City LGAs, describing the gesture as a moral booster for the corps members.
News
IGP Secures Foreign Training Offer For 5,000 Police Officers
The Inspector-General of Police, IGP Olatunji Disu, has secured an offer of specialised training for up to 5,000 Nigerian police personnel under a proposed security cooperation involving Nigeria, the United States and Italy.
The Force Public Relations Officer, CSP Ani Iniedu, disclosed this in a statement issued at the Force Headquarters, Abuja, at the weekend.
The initiative is aimed at strengthening the operational capacity of the Nigeria Police Force to tackle insurgency, terrorism, kidnapping, arms trafficking and other emerging security threats across the country.
According to the statement, the proposed training programme will focus on counter-insurgency operations, intelligence-led patrols and tactical operations, particularly in difficult rural and forested environments.
Other areas of training include critical infrastructure protection, digital and scientific forensics, cybercrime investigations, explosives detection, financial investigations, asset tracing and anti-extortion operations.
The programme is expected to extend beyond the Police Mobile Force to other specialised units, including explosive ordnance disposal and forensic teams.
As part of the engagement, Disu met with the Commander-General of the Italian Carabinieri, Lieutenant-General Salvatore Luongo, to explore areas of technical assistance, professional training and institutional cooperation.
The police chief and his delegation also visited the Carabinieri Centre of Excellence for Stability Police Units in Vicenza, Italy, where they assessed training facilities and explored opportunities to adapt specialised policing programmes to Nigeria’s security needs.
Proposals discussed during the visit included command courses for 40 senior police officers, leadership training for 100 junior commanders and the deployment of a mobile assistance team to support Police Mobile Force training schools in Gwoza, Borno State, and Ila-Orangun, Osun State.
The discussions also covered the development of a national stability policing doctrine and standard operating procedures to improve professionalism, operational coordination and civilian protection, particularly in communities recovering from conflict.
Other areas of proposed cooperation include canine operations, forensic science and mounted policing, including horse breeding and local capacity development for effective public order management.
To formalise the proposed partnership, the IGP has initiated moves towards a Memorandum of Understanding covering specialised training, technology transfer and operational procedures.
He also invited an Italian Carabinieri assessment team to Abuja to identify priority needs and develop implementation arrangements.
Disu reaffirmed the commitment of the Nigeria Police Force to international partnerships that will strengthen operational readiness, improve investigative capacity and enhance the protection of lives and property.
The statement did not, however, indicate when the proposed training programme would commence or provide a definite implementation timetable.
-
Opinion4 days ago
Ancestorial Worship: My Take (1)
-
Education22 hours agoPAMO MEDICAL UNIVERSITY -Nullifies Arrest warrant on VC
-
Niger Delta23 hours ago
PANDEF Seeks 50% Oil Derivation Allocation Increase
-
Rivers21 hours ago
Don Seeks Repositioning Of Tech Education For Dev
-
Education22 hours agoIAUE MOVES TO END GHOST WORKERS SYNDROME AS 400 NEW NON-TEACHING STAFF UNDERGO MANDATORY ETHICS TRAINING
-
News24 hours agoFresh Ebola Scare As NCDC Records Two Cases
-
News24 hours ago
Customs Partners EFCC, NDLEA, Others To Tackle Money Laundering, Terrorism Financing
-
News4 days agoFG Must Address Nigerians’ Concerns On Reforms -Shettima …Warns Against Misuse of AI, Social Media
