Connect with us

Business

Reps Committee Partners Ministry On Revenue Allocation

Published

12 years ago

on

The House of Representatives has directed its committee on finance to interface with the ministry of finance to ascertain the “ critical issues” confronting revenue allocation in Nigeria.
It also enjoined the committee to meet with representatives of the states in the Federation Account Allocation Committee (FAAC) and make recommendations for alternative ways of revenue distribution .
The committee has two weeks to work on the assignment.
The House further mandated the ad-hoc committee on legislative agenda to, within three months in conjunction with other relevant committees, formulate a blue-print for the diversification of the economy.
The representatives said the proposed blue-print would be presented to the executive and the Nigerian public.
The resolution followed a motion by Rep. Samson Osagie, which was adopted when put to vote by the Speaker, Rep. Aminu Tambuwal.
The motion is entitled, “Administration of the Federation Accounts by the Federal Ministry of Finance and the Need to Diversify Nigerian Economy”.
Osagie said the “persistent crisis” bedevilling the federation accounts and FAAC in the dispensation of the revenues accruing from the federation accounts to the three tiers of governments should be addressed.
He said the commissioners of the 36 states of federation on June13 walked out of the FAAC meeting following disagreements on the May allocation.
He said the commissioners left the meeting with “serious” complaints over refusal by the Federal Government to implement the resolution of the May meeting for payment of outstanding allocation to states and local governments for February.
The legislator expressed concern over the “incessant disruptions” of revenue allocation to various levels of government and said it could have a negative impact on the implementation of the budget.
He cited the case of the failure of Nigerian National Petroleum Corporation (NNPC) to pay N450 billion into the federation account, resulting in the disruption of the early release of allocations to the federating units.
“The non-payment was duly investigated by this House for which no report was submitted till date,” Osagie said.
He further expressed worry over the persistent complaint of reduction in crude oil production due to massive oil theft and pipeline vandalism.
Osagie said that the dependence on crude oil sales as the only source of financing budgets by all tiers of government exposed the economy to “grave” danger.
He urged members of the assembly to support the motion in order to develop and implement a “well articulated policy of economic diversification’’.
Contributing, Rep. Akpan Umoh and Leo Ogor said that the motion was well intended as it had to do with the economy and welfare of the people.

Related Topics:
Continue Reading

Business

Kenyan Runners Dominate Berlin Marathons

Published

7 hours ago

on

September 22, 2025

By

Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.

Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.

The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.

Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.

“I did my best and I am happy for this performance,” said Sawe.

“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”

Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.

In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.

Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.

Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.

 

Continue Reading

Business

NIS Ends Decentralised Passport Production After 62 Years

Published

7 hours ago

on

September 22, 2025

By

The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
Continue Reading

Business

FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

Published

7 hours ago

on

September 22, 2025

By

The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
Continue Reading

Trending