News
NASS Hikes 2018 Budget By N508bn
The National Assembly has jacked up the 2018 budget from the N8.612trillion figure presented by President Muhammadu Buhari last November to N9,120,334,988,225.
This represents a whooping N508billion difference, which the lawmakers have inserted into the appropriation bill.
The new figure is embedded in the report of the National Assembly Joint Committees on Appropriation presented before the Assembly, yesterday.
A breakdown of the budget indicates that N530.4billion is for statutory transfer, N2.20trillion for debt service and N199billion for sinking fund for maturing loans.
Also, N3.51trillion is allocated to recurrent (non-debt) expenditure, while N2.87trillion is earmarked for development fund for capital expenditure.
The National Assembly is expected to pass the budget this month, over six months since it was presented to the Assembly by Buhari.
Meanwhile, the House of Representatives, yesterday, said the 2018 Appropriation Bill of N9.12 trillion would be passed, today.
Deputy Speaker of the House, Yussuff Lasun, who presided at plenary, made this known after the budget report was presented by the Chairman, Committee on Appropriation, Rep. Mustapha Dawaki.
The N9.12trillion budget is N410 billion higher than N8.61trillion appropriated in 2017.
Lasun advised members to pick copies of the budget from the appropriation committee as the House was likely to pass the budget, today.
At the Senate, the report of the Committee on Appropriations was laid by the Chairman, Senator Danjuma Goje, APC, Gombe Central.
The presentation of the report was seconded by the Chairman, Senate Committee on Public Accounts, Senator Matthew Urhoghide, PDP, Edo South.
The Senate had on several occasions accused Ministries, Departments and Agencies (MDAs) of not keeping to appointments with the various standing committees to defend their budgets.
The delay had prompted President Muhammadu Buhari to issue a deadline to heads of all MDAs to defend their budgets unfailingly.
Subsequently, the President of the Senate, Dr Bukola Saraki, on April 12, mandated the Appropriation Committee to tidy up reports on the budget latest by April 13.
With this development, the January to December budget cycle would not be obtainable with the 2018 budget.
Buhari had on November 7, 2017 presented a budget of N8.6trillion before a joint session of the National Assembly.
The president, who announced the 2018 budget as “Budget of Consolidation”, said the projected expenditure would drive rapid economic recovery.
He said at the session that with a benchmark of $45 per barrel at an exchange rate of N305 to a dollar in 2018, the budget would consolidate on the achievements of previous budgets to aggressively steer the economy to the path of steady growth.
However, strong indications have emerged that the budget would be passed this week, just as moves to do that are largely believed by concerned Nigerians, to have arisen as a result of May 31, 2018, set as deadline for life span of the N7.444trillion 2017 budget.
The six months the 2018 budget estimates has spent in the National Assembly has been the longest period for consideration of an appropriation bill so far since year 2000 when a full-fledged yearly budget was first presented to it.
The Governor of Rivers State, Sir Siminalayi Fubara, has begun the celebration of Nigeria’s 65th Independence anniversary with a Juma’at service where prayers were offered for the progress of the state and Nigeria.
Governor Fubara, who advocated for peace and unity of Nigeria during the prayers on Friday at the Rivers State Central Mosque, Port Harcourt, indicated that without peace, the accelerated development of Nigeria will remain in a limbo.
Governor Fubara, who was represented by Alhaji Abdurrazaq Diepriye, therefore urged citizens to remain patriotic.
According to him, “Allah has brought us this far. Without peace, we can not have progress and economic development. I call on all citizens irrespective of creed or tribe to remain patriotic.”
He thanked President Bola Tinubu for restoring peace in Rivers State while also using the forum to appreciate security agencies for their relentless effort in upholding the peace and unity of Rivers State and Nigeria.
The Chief Imam of Rivers State Central Mosque, Imam Ibrahim Yaloo, admonished Moslem faithful to always speak the truth, adding that those who obey Allah will be directed to good deeds and their sins forgiven.
Prayers were offered for Rivers State and Nigeria.
Other activities to mark the 65th Independence anniversary in the state include an Inter-denominational Church Thanksgiving Service on Sunday, 28th September and Parade Ceremony on Wednesday, 1st October.
Vice-President Kashim Shettima departed New York on Sunday after representing President Bola Tinubu at the 80th session of the United Nations General Assembly.
In a statement released on Sunday by the VP media aide, Stanley Nkwocha, the Vice President is now headed to Germany, where he will hold strategic meetings with officials of Deutsche Bank.
The statement read, “Vice President Kashim Shettima has departed New York, United States, after successfully representing President Bola Ahmed Tinubu, GCFR, at the 80th Session of the United Nations General Assembly.
“During his participation at UNGA 80, VP Shettima secured UN Secretary-General António Guterres’ commendation for Nigeria’s bid for a permanent UN Security Council seat.
“He also showcased Nigeria’s $200 billion energy transition opportunity to global investors and strengthened strategic partnerships with the UK on trade, defence, and migration issues.”
Nkwocha added that the VP delivered Tinubu’s national statement, calling for UN reforms and a permanent seat for Nigeria at the UN Security Council, and “demanded Africa’s control over its $700 billion mineral wealth, and digital inclusion initiatives.”
“He also engaged with the Gates Foundation on healthcare and education expansion, positioning Nigeria as the natural hub for the African Continental Free Trade Area’s $3.4 trillion market.
“VP Shettima was seen off at John F. Kennedy International Airport, New York, by cabinet Ministers who were part of the UNGA 80 delegation and Nigerian Mission officials.”
The aide noted that Shettima will return to Nigeria immediately after his engagements in Germany.
The Tide source recalls that the VP departed Abuja, yesterday.
He led other Nigerian officials at the Assembly.
As part of Nigeria’s 65th Independence anniversary celebration, the Federal Government held a special thanksgiving service on Sunday at the National Ecumenical Centre in Abuja to offer prayers and give thanks for the nation.
The event drew top government officials and security chiefs, including Senate President Godswill Akpabio and Secretary to the Government of the Federation, George Akume, as well as their spouses.
Other notable guests included Finance Minister and Coordinating Minister of the Economy Wale Edun, former Plateau State Governor, Senator Simon Lalong, and the Chief of Defence Staff, General Christopher Musa, who led the service chiefs in attendance.
Service chiefs present included the Chief of Naval Staff, Vice-Admiral Emmanuel Ogala, Inspector-General of Police Kayode Egbetokun, Comptroller-General of the Nigerian Immigration Service, Mrs Kemi Nandap and Controller-General of the Nigerian Correctional Service, Sylvester Nwakuche, among others.00
The service came days after the government unveiled the official theme and some of the activities slated for the 2025 Independence celebrations.
This year’s anniversary is tagged “Nigeria @ 65: All Hands on Deck for a Greater Nation,” as announced by the Director of Information and Public Relations at the Office of the Secretary to the Government of the Federation, Segun Imohiosen, in a statement on Wednesday.
“As part of activities to mark the 65th Independence Anniversary, the Juma’at Prayer and the Inter-Denominational Church Service will be held on Friday, 26th September at 1 pm and Sunday, 28th September at 10 am respectively, as well as the World Press Conference on Monday, 29th September at 10 am,” he said.
The Tide source had earlier reported that President Bola Tinubu, alongside former Heads of State, Yakubu Gowon, Olusegun Obasanjo and Goodluck Jonathan, is expected as a special guest at a national discourse convened by the Island Club, Lagos, to mark Nigeria’s 65th Independence Anniversary.
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