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N13.08trn Budget: 2nd Recession To Hit Economy Before Dec Ends -Buhari …N’Delta Amnesty Programme Gets N65bn

Published

5 years ago

October 9, 2020

President Muhammadu Buhari, yesterday, predicted further hardship for Nigeria as he said the nation may face another recession before the end of the year, if serious and effective measures are not taken to ensure the nation’s financial security.
Buhari raised the alarm in his budget speech during the presentation of N13.08trillion budget for the 2021 fiscal year to a joint session of the National Assembly,.
He, however, vowed to pursue his administration’s goal of lifting 100million Nigerians out of poverty, even as he disclosed that the government has released N2.1trillion for capital projects in the 2020 budget.
President said about N3.85trillion has been earmarked for capital projects in the 2021 fiscal year, while the non-debt recurrent expenditure for next year would gulp N5.65trillion.
He said this was N1.15trillion higher than what was budget for capital in 2020.
The 2021 budget also has N100billion earmarked for Constituency projects of the lawmakers of both Chambers of the National Assembly, just as N128billion has been slated for statutory transfer to the National Assembly for payment of salaries and allowances next year.
This would, therefore, form part of the proposed N484.49billion transfers to other budget stakeholders.
A study of the 2021 budget breakdown as submitted by the President, indicated that the Ministery of Defense received the lion share of N840.56billion, followed by Ministry of Education, which received N545.10billion, while the Ministry of Health received N380.21billion in the 2021 Appropriation Bill.
According to the President, in line with the proposed borrowing plans to sustain the economy, the 2021 budget would operate at a deficit of N5.2trillion, just as N4.28trilion would be borrowed to finance the budget deficit.
The parameters and fiscal assumptions underpinning the 2021 appropriation, included: Benchmark oil price of $40 per barrel; daily oil production estimate of 1.86 million barrels (inclusive of Condensates of 300,000 to 400,000 barrels per day).
Exchange rate of N379 per $1; Gross Domestic Product growth projected at 3.0 per cent and inflation closing at 11.95 per cent.
The President said to maintain the peace in the Niger Delta region for economic and social activities to thrive, the provision of N65billion for the Presidential Amnesty Programme has been retained in the 2021 Budget.
“In addition, the sum of N63.51billion has been appropriated for the Niger Delta Development Commission (NDDC) and N24.27billion has been provided for the capital projects of the Ministry of Niger Delta Affairs. These allocations should further support the development of the region by facilitating the completion of important ongoing projects, such as the East-West Road”, he said
According to him, “Based on the foregoing fiscal assumptions and parameters, total federally distributable revenue is estimated at N8.433trillion in 2021. Total revenue available to fund the 2021 Federal Budget is estimated at N7.886trillion. This includes Grants and Aid of N354.85billion as well as the revenues of 60 Government-Owned Enterprises.
“Oil revenue is projected at N2.01trillion. Non-oil revenue is estimated at N1.49trillion. As you will observe, the format of the 2021 Appropriation Bill has been modified to include budgeted revenues, no matter how small, for each MDA, to focus on internal revenue generation. Accordingly, I implore you to pay as much attention to the revenue side as you do to the expenditure side.
“An aggregate expenditure of N13.08trillion is proposed for the Federal Government in 2021. This includes N1.35trillion spending by Government-Owned Enterprises and Grants and Aid funded expenditures of N354.85billion.
“For 2021, the proposed N13.08trillion expenditure comprises: Non-debt Recurrent Costs of N5.65trillion; Personnel Costs of N3.76trillion; Pensions, Gratuities and Retirees’ Benefits of N501.19billion; Overheads of N625.50billion; Debt Service of N3.124trillion; Statutory Transfers of N484.49billion; and Sinking Fund of N220billion (to retire certain maturing bonds).
“The 2021 Budget deficit (inclusive of Government Owned Enterprises and project-tied loans), is projected at N5.20trillion. This represents 3.64 percent of estimated GDP, slightly above the 3 percent threshold set by the Fiscal Responsibility Act, 2007. It is, however, to be noted that we still face the existential challenge of Coronavirus pandemic and its aftermath; I believe that this provides a justification to exceed the threshold as provided for by this law.
“The deficit will be financed mainly by new borrowings totalling N4.28trillion, N205.15billion from Privatization Proceeds and N709.69billion in draw-downs on multilateral and bilateral loans secured for specific projects and programmes.”
The sum of N484.49billion was provided in the budget proposal for Statutory Transfers representing an increase of N56.46billion (or 13 per cent) over the revised 2020 provision.
It includes: Niger Delta Development Commission (N63.51billion); North East Development Commission (N29.70billion); National Judicial Council (N110.00billion); Universal Basic Education Commission (N70.05billion); Independent National Electoral Commission (N40.00billion); National Assembly (N128.00billion); Public Complaints Commission (N5.20billion); Human Rights Commission (N3.00billion); and Basic Health Care Provision Fund (N35.03billion).
In the recurrent expenditures, the budget has N227.02billion for the Ministry of Interior; N441.39billion for the Ministry of Police Affairs; N545.10billion for Ministry of Education; N840.56billion for Ministry of Defence; and N380.21billion for Ministry of Health.
On debt servicing, Buhari said the Federal Government was committed to meeting its debt service obligations.
The budget provided N3.12trillion for this in 2021, representing an increase of N445.57billion from N2.68trillion in 2020.
He said a total of N2.183trillion has been set aside to service domestic debts, while N940.89billion has been provided for foreign debt service, just as N220billion is provided for transfers to the Sinking Fund to pay off maturing bonds issued to local contractors and creditors.
Speaking on overhead costs, the President said total overhead costs of MDAs and government owned enterprises are projected to rise to N625.50billion in 2021, mainly due to the inclusion of the overheads of an additional 50 government owned enterprises.
He added that overhead provisions have also been made for newly created agencies, urging MDAs to adhere to extant expenditure controls as a measure to keep a tab on running costs.
While indicating that an aggregate sum of N3.85trillion is expected to be available for capital projects in 2021, he gave the details as: N1.80trillion for MDAs’ capital expenditure; N745billion for Capital Supplementation; N355billion for Grants and Aid-funded projects; N20billion for the Family Homes Fund; N25billion for the Nigeria Youth Investment fund; N336billion for 60 Government Owned Enterprises; N247billion for capital component of Statutory Transfers; and N710billion for projects funded by Multilateral and Bilateral loans.
He said Capital expenditure in 2021 remains focused on the completion of as many ongoing projects as possible, rather than the commencement of new ones, adding “We have also made efforts to ensure equity in the distribution of projects and programmes in the proposed budget. I will be providing the National Assembly a list of some of the most critical projects which we must work collectively to ensure they receive adequate funding.
Highlights of the 2021 budget include: Power: N198billion (inclusive of N150billion for the Power Sector Recovery Plan); Works and Housing: N404billion; Transportation: N256billion; Defence: N121billion; Agriculture and Rural Development: N110billion; Water Resources: N153billion; Industry, Trade and Investment: N51billion; Education: N127billion; Universal Basic Education Commission: N70billion; Health: N132billion; Zonal Intervention Projects: N100billion; and Niger Delta Development Commission: N64billion.
According to the President, the sum of N420billion was also budgeted to sustain the Social Investment Programme, N20billion has also been set aside for the Family Homes Fund, Social Housing Programme. N75billion Survival Fund Programme to support and protect businesses from potential vulnerabilities. N100billion to households and small businesses; N100billion to the healthcare and pharmaceutical industry; and N1trillion to large agricultural and manufacturing businesses.

By: Nneka Amaechi-Nnadi, Abuja

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PANDEF Hails Tinubu For Lifting Emergency Rule In Rivers

Published

3 days ago

September 19, 2025

The Tide

The Pan Niger Delta Forum (PANDEF) has hailed the lifting of the State of Emergency in Rivers State, effective midnight, Wednesday, September 17, 2025.

In a statement signed by Board members and National Executive Committee members, yesterday, PANDEF commended President Bola Tinubu for rectifying what they described as an anomaly.

The statement was co-signed by Co-Chairmen, PANDEF Board of Trustees, Alfred Diette-Spiff and Obong Victor Attah, National Chairman Ambassador Godknows Boladei Igali, and National Secretary, Beks Dagogo-Jack.

Tinubu declared a State of Emergency in Rivers State on the 18th of March, 2025, suspending Governor Siminalayi Fubara, the Deputy Governor, and members of the state House of Assembly for six months in the first instance.

In place of the governor, the President appointed Vice Admiral Ibok-Ete Ibas (retd) as Sole Administrator.

However, Tinubu announced the suspension of the Emergency Rule on Wednesday, stating, “It therefore gives me great pleasure to declare that the emergency in Rivers State shall end with effect from midnight today (Wednesday).”

The Forum commended Fubara’s unwavering perseverance and “faith in the divine will of Almighty God,” while also commending the Deputy Governor, Professor Ngozi Odu, the Speaker, and members of the House of Assembly, who were equally affected by the suspension.

“The Board and National Executive Committee of the Pan Niger Delta Forum, the apex socio-political organisation representing the South-South geopolitical zone, joins millions of Nigerians in welcoming the lifting of the state of emergency in Rivers State, effective midnight, Wednesday, September 17, 2025.

“While PANDEF had expressed strong reservations regarding the erstwhile emergency rule, we commend His Excellency, President Bola Ahmed Tinubu, GCFR, for taking this bold step to rectify the anomaly.

“We welcome Governor Siminalayi Fubara back to his elected office and salute his unwavering perseverance and faith in the divine will of Almighty God. We extend similar commendations to the Deputy Governor, Professor Ngozi Oduah, the Speaker, and members of the House of Assembly, who were equally affected by the suspension,” the statement read.

Addressing Rivers people, the forum declared, “Light has returned to the state and a new glorious dawn has come. A moment in which the bitter pains of the past months will inspire all to rededicate themselves to true mutual forbearance, new alignments and forward movement.”

They urged political leaders and citizens to put the past behind them and work towards the collective good of the State, while pledging to support Rivers’ developmental trajectory under Fubara.

“All hearts and hands must therefore be joined together to put the past behind us and work towards the collective good of the state.

“We look forward to the State’s return to normalcy and the resumption of its developmental trajectory under the leadership of Governor Fubara and his team. PANDEF reiterates its commitment to supporting the government and people of Rivers State in their pursuit of progress and development,” the statement added.

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RSG Approves Full Rehabilitation of State Secretariat …Unveils Housing Scheme for Civil Servants, Honours Veterans

Published

1 week ago

September 12, 2025

The Tide

Rivers State Administrator, Vice Admiral Ibok-Eteh Ibas (Rtd), has approved the complete rehabilitation and modernization of the Rivers State Secretariat Complex to enhance efficiency and productivity in the civil service.

Ibas made the announcement at the 2025 Civil Service Week Gala and Awards Ceremony held at Banquet Hall, Government House, Port Harcourt, on Wednesday,.

He disclosed that “initiative is designed to transform the secretariat into a modern, efficient and conducive work environment, directly supporting the civil servants who form the backbone of the state’s governance.”

The Administrator also approved the provision of 106 housing units for civil servants in the State.

Ibas paid glowing tribute to retired Heads of Service and Permanent Secretaries, describing them as the bedrock of the state’s administration.

He stated that the awards ceremony was a symbol of deep appreciation for decades of sacrifice, resilience, and commitment.

“These interventions are designed to not only recognize your service, but also to improve your welfare in tangible and lasting ways,” the Administrator stated.

“We must build an administration that is efficient, effective, and truly citizen-centric,” he added.

The Administrator urged serving officers to draw inspiration from their predecessors and strive to make a meaningful impact in the lives of citizens.

He emphasized the importance of embracing innovation, technology, and continuous training to build a civil service equipped for the future.

The Acting Head of Rivers State Civil Service, Dr. (Mrs.) Inyingi Brown, in her welcome address, described the civil service as the “engine room of government” and expressed profound gratitude to the Administrator for his unwavering support and commitment to its modernization.“

“A society that does not honour its heroes is not worthy of emulation,” Dr. Brown remarked, lauding the retirees as torchbearers of discipline and loyalty.

She pledged to build on their legacy through reforms and innovation, projecting that the Rivers State Civil Service would become a model of efficiency and transparency by 2030.

Speaking on behalf of the retirees, President of the Association of Retired Permanent Secretaries, Sir Promise Njowhor,

expressed heartfelt appreciation for the historic recognition.

“For once, since the creation of the State, we are being honoured,” Njowhor said, adding, “Our morale has been lifted.”

He pledged the association’s continuous support for government programmes, describing the body of experienced retirees as a resource available to contribute to state development.

The rehabilitation of the State Secretariat and the new housing scheme represent a major investment in the infrastructure and dignity of public service in Rivers State, signaling a new era of support for the civil servants who drive the government’s policies and programmes.

The Tide reports that the Administrator also conferred awards of meritorious service on retired Heads of Service and Permanent Secretaries in the State

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Rivers LG Poll: APC Wins 20 chairmanship seats, PDP Clears Three

Published

3 weeks ago

September 1, 2025

The Tide

The All Progressives Congress (APC) has won 20 out of the 23 local government areas in the just concluded local government election in the State, while the Peoples Democratic Party (PDP) clinched three local governments.

According to the results released by the Rivers State independent Electoral Commission (RSIEC), yesterday, the APC won the chairmanship seats in Abua/Odual, Andoni, Opobo Nkoro, Ahoada East, Ahoada West, Okrika, Ogu/Bolo and Khana local government areas.

APC also won in Gokana, Tai, Oyigbo, Bonny, Eleme, Etche, Omuna, Akuku Toru, Asari Toru, Degema, Ikwerre and Emohua local government areas.

The Commission, however, said the PDP won in Port Harcourt City, Obio/Akpor, and Ogba Egbema Ndoni local government areas.

Chairman of the Commission, Dr Michael Odey, who announced the results at the Commission headquarters in Port Harcourt, said Ofori Owolabi of the APC scored 28,755 votes to emerge winner of the election for Abua Odual while Solomon Ochomma, also of the APC, emerged chairman elect for Ahoada East after scoring 54,509 votes.

Odey said Eugene Epelle also of the APC scored 84,125 votes to emerge winner in Ahoada West, while Bob Fubara was elected the chairman-elect for Akuku Toru after scoring 63,593 votes.

Similarly APC chairmanship candidate Lucky Otuo Promise emerged chairman-elect for Andoni after scoring a total of 126,181 votes, APC’s George Onengiyeofori emerged winner in Asari Toru after scoring 56,383 votes, while Pepple Blessing Abinye garnered 13,543 votes to emerge winner in Bonny Local Government Area.

Other APC candidates elected include Michael John Williams who scored 16,536 votes to emerge chairman-elect for Degema Local Government; Obarlllormate Ollor (77,452) for Eleme; Dr Chidi Julius Lloyd (114,380) for Emohua; Njoku Boniface (100,649) for Etche; Confidence Deekor (96,478) for Gokana, while Wobodo Charles got 62,746 votes to emerge winner in Ikwerre Local Government Area.

Other APC winners from the APC include Akuro Tobins (32,285 votes) for Okrika; Hon Obasi Uchechukwu (38,530) for Omuma; James A James (38,822) for Opobo Nkoro; Vincent Nemieboka (36,374) for Ogu/Bolo; Hon Mbakpone Okpe (70,080) for Tai LGA, while in Oyigbo, Okechukwu Akara scored 101,495 votes to emerge winner.

Meanwhile, the RSIEC chairman announced Dr Gift Worlu of the PDP with 328,823 votes to emerge winner in Obio Akpor; Shedrack Ogbogu, also of the PDP, scored 51,051 votes for Ogba Egbema Ndoni Local Government Area, while in Port Harcourt City, Sir Alwell Ihunda garnered 235,054 votes for PDP to emerge winner.

The APC also cleared the councillorship seats in Abua/Odual, Andoni, Ahoada East, Ahoada West, Okrika, Ogu/Bolo and Khana, Oyigbo, Bonny, Eleme, Etche,Tai, Khana Opobo/Nkoro and Degema local government areas.

Similarly APC councillorship candidates also emerged winners in Asari Toru, Degema, Akuku Toru, Gokana and Khana while PDP cleared the councillorship seats in Obio/Akpor, Port Harcourt city, and Ogba Egbema/ Ndoni Local Government Areas

Meanwhile, the Forum of State Independent Electoral Commissions has passed a vote of confidence on the just concluded local government election in the State.

National Chairman of the forum, Hon. Mamman Nda Eri, said this in an interview with newsmen in Port Harcourt.

Eri said all the chairmen across the country were in Port Harcourt to monitor the election as well as gain experience in an election under emergency rule.

John Bibor & King Onunwor