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FEC Okays N8.6trn 2018 Budget …Awaits NASS For Presentation

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The Federal Executive Council (FEC), presided over by President Muhammadu Buhari has approved the draft 2018 National Budget proposal.
The FEC is to liaise with the National Assembly on a date President Muhammadu Buhari will present the document to the lawmakers.
Minister of Budget and National Planning, Udoma Udo Udoma, announced this to State House Correspondents at the post-FEC briefing.
Udoma who briefed newsmen alongside Ministers of Information, Lai Mohammed, Power, Works and Housing, Babatunde Fashola and Finance, Kemi Adeosun, however, declined to give details, insisting that only the President who is constitutionally backed has the prerogative to make them available to the public.
However, the Medium Term Expenditure Framework (MTEF) document indicates that the 2018 Budget will have an aggregate expenditure profile of about N8.6 trillion, including grants and donor funding of N199.91 billion.
This provision exceeds 2017 Budget aggregate expenditure estimate of N7.44 trillion by 15.5 percent (N1.16 trillion)
The aggregate revenue to fund the 2018 budget is expected to be around N5.65 trillion, 11 percent or N562.50 billion over the 2017 estimate of N5.08 trillion.
About 43.2 percent of this revenue is projected to come from oil sources while the balance is to be earned from non-oil sources.
These figures are subject to confirmation by President Buhari when he presents the fiscal proposals to the National Assembly.
Details of the MTEF showed that aggregate revenue to fund the 2018 budget is projected at N5.65 trillion (11.0 percent or N562.50 billion over the 2017 estimate of N5.08 trillion).
Also, 43.2 percent of this is projected to come from oil sources while the balance is to be earned from non-oil sources.
Aggregate expenditure is estimated at N8.60 trillion (this include grants and donor funding of N199.91 billion naira).
“This provision exceeds 2017 aggregate expenditure estimate of N7.44 trillion by 15.5 percent (or about N1.16 trillion).
Asked to give key details of the 2018 proposals especially the foreign exchange, oil price production benchmarks, etc, Udoma said, “It is the President’s prerogative to submit the budget, submit the proposals and give the details. I will be operating above my brief if I do that, the constitution gives that authority to the president.”
He said the federal government kept its promise to get the budget ready by October.
“We did promise that the budget will be ready in October and it is ready in October.
“We are liaising with the National Assembly because they have to approve the date for the President to come and address them to submit the budget,” he said.
The Minister said with today’s approval of the draft copy of the 2018 budget proposal, the government was indeed on the path to return the country back to a predictable January to December fiscal year.
“Before now, we used to submit budget proposal in December but now the budget is ready in October so there is a very big difference.
Fashola on his part said Council approved the construction of 14 kilometer 330KVA transmission line by Transmission Company of Nigeria, to get them ready to evacuate Azura power plant in Edo State when it is ready in May 2018.
The contract is at the sum of N796.6 million to be completed in seven months, just about when Azura should be ready.
The Finance Minister, Adeosun said Council approved the memo for the establishment of Road Trust Fund structure. She said the memo was presented with the Input of the Minister of Power, Works and Housing.
She said it is the Public Private Partnership (PPP) initiative that will allow the private sector to get involved in road construction in exchange for tax credit.
“What is unique about the scheme is that it is building on an existing scheme that avails tax credit but is one company per road and we have found that only two companies have been able to take advantage of it. The tax will be recovered over a three year period. We expect this to mobilise significant capital into road provision across the country. The ministry of works will be approving the design and the cost of those roads. The BPP will also provide certificates of no objection to make sure that the cost are reasonable, ministry of works will supervise.
“What we expect is significant road delivery especially in areas for example industrial clusters affected by very bad roads. They can get together, do the road and recover their money through the tax credit system.
“We expect the impact on revenues to be neutral because we are tightening our tax code but we still put in a limit that no company can apply and use more than 50 per cent of the tax within a year for this scheme.
“A company doesn’t have to be active in that area, so a bank, oil company, service company could get involved. We are really trying to widen the pool of funds for road construction.”
Adeosun said so far total amount that has been released on capital project for 2017 is N450 billion.

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WASSCE: RSG Distributes Science Materials To Secondary Schools

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The Rivers State Government has distributed science equipment and materials to all senior secondary schools across the state to support students during the ongoing West African Examinations Council exams and to strengthen practical learning.

Flagging off the distribution at the Rivers State Senior Secondary Schools Board premises in Port Harcourt, on Monday, the State Commissioner for Education, Dr. Peters Nwagor, said the move demonstrates Governor Siminalayi Fubara’s commitment to improving education standards in the State.

 Nwagor said the materials were approved and provided by the state government specifically to boost the teaching and learning of science subjects, describing science education as the foundation for technological advancement, innovation, and national development.

“No society can compete globally without deliberate investment in science and technology,” the Commissioner stated.

He commended the governor for consistently prioritising the education sector by providing tools needed for effective teaching and hands-on learning.

The Commissioner directed principals to ensure that the equipment are used strictly for practical lessons in their schools, warning that any principal or administrator found diverting, hoarding, or selling the materials wil face disciplinary action under public service regulations.

 Nwagor also warned against examination malpractice,  saying any principal found aiding or encouraging malpractices will be decisively sanctioned.

“We must collectively restore the dignity and credibility of our educational system,” he said.

Also speaking, Chairman, Rivers State Senior Secondary Schools Board, Tony Egwurugwu, urged school heads to make judicious use of the materials for students’ benefit.

He thanked the State Government for providing the resources, and assured that monitoring mechanisms would be put in place to ensure the materials serve their intended purpose.

In his own remarks,  a Board Member for Technical Education, Nwisabari Bani Samuel, expressed appreciation to the governor for prioritising education and acknowledged the Commissioner’s role in advancing education development in the State.

He  said the distribution covers all senior secondary schools in the State and is intended to improve students’ performance in both internal and external science examinations.

Akujobi Amadi

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Fubara Hails Workers’ Resilience, Dedication In Rivers …Hails Tinubu’s Economic Reform 

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Rivers State Governor, Sir Siminalayi Fubara,  has commended workers in the State for their resilience, dedication, and invaluable contributions to development in the State.

 

Fubara gave the commendation during the 2026 Workers’ Day celebration at Isaac Boro Park in Port Harcourt, last Friday.

 

Represented by his deputy, Prof. Ngozi Nma Odu, the governor noted that Workers’ Day, which originated from the struggle for an eight-hour workday in the United States, has evolved into a global event recognising the contributions of workers to national growth and development.

 

He described workers as the backbone of sustainable development, saying no society can thrive without their efforts.

 

Fubara commended Rivers workers for their loyalty and commitment to service, noting that workers play vital roles across key sectors, including education, healthcare, infrastructure and industry.

 

He noted that their contributions have enhanced access to quality education and healthcare, supported job creation, and stimulated economic activities across the State.

 

While acknowledging the economic challenges faced by many workers, including the rising cost of living, Fubara assured that the the State Government remains committed to implementing policies that will enhance workers’ welfare and overall well-being.

 

The governor also hailed the bold and daring economic reforms of President Bola Tinubu which, he said, have stabilized the economy, enhanced foreign exchange liquidity, lowered inflation, and achieved significant growth in the nation’s gross domestic product.

 

He noted that, in addition to raising the minimum wage, the President recently approved new welfare incentives for federal civil servants.

 

“Our economy is on an unstoppable positive path under our President, and it can only improve further for the nation and everyone. Let us continue supporting the policies and programmes of Mr President,” he said.

 

Fubara highlighted the importance of workers in revenue generation and governance, noting that taxes paid by workers enable government to provide security and essential social services.

 

He reaffirmed the State Government’s recognition of labour as a critical partner in achieving its development blueprint, appreciating workers’ daily contributions to building a peaceful, secure, and prosperous Rivers State.

 

The governor urged the organised labour to use the occasion to reaffirm its commitment to the progress of the State, while continuing to advocate for democracy, social justice, and improved welfare for workers.

 

He also expressed gratitude to workers for their service to the State and the nation, encouraging them to remain steadfast in their contributions to development.

 

In his address, the State Chairman of the Nigeria Labour Congress, Comrade Alex Agwanwor, commended Fubara for his steadfastness, genuine commitment, and passion for workers in the State.

 

He highlighted key achievements of the administration, including the implementation of the National Minimum Wage Act, the renovation of the State Secretariat, the reopening of the Rivers State Transport Company (RTC), and the consistent payment of end-of-year bonuses to public workers.

 

Comrade Agwanwor noted that workers, as drivers of productivity, understand the challenges involved in building a prosperous Rivers State, stressing that they are well-equipped to contribute meaningfully to the growth and development of the State.

 

“We have resolved not to continue complaining and lamenting while challenges persist. Instead, we must take the initiative, step out of relative obscurity, and rediscover the mission and destiny of our dear state,” he said.

 

 

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Fubara Pledges Support For Corporate Organisations In Rivers …Says PPP Business Model Responsible For NLNG’s Success

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Rivers State Governor, Sir Siminalayi Fubara, has pledged the  continued  support of his administration for the Nigeria Liquified Natural Gas (NLNG) Limited.

Fubara gave the assurance while receiving the new Managing Director and Chief Executive Officer of the NLNG, Mr Adeleye Falade, who paid him a courtesy visit at Government House, Port Harcourt.

He assured that his administration would continue to contribute its own quota in support of the NLNG.

According to him, the success of the organisation is equally the success of the government of Rivers State and the success of the Federal Government.

“Our duty is to make sure that we support whoever is operating in our state. We are the ones here. If we don’t support you and you don’t succeed, we also will not succeed and Mr President will also not succeed.

“So, the success of your establishment is the success of our state, and overall success of Nigeria. So you can count on our support. Wherever you think  we need to come in to support you, please do not hesitate to call upon us.

“You just mentioned here that your predecessor left a handover note showcasing the level of support that he got from the state. It is not going to be different in your own case. I can  assure you that.  I will also ensure that other units of the government will  liaise with you when necessary. So even if you can’t get to me, you can always get to them and if there is anything we can do to help your establishment succeed, we will do it for you,” he said.

The governor attributed the success of the NLNG to the Public Private Partnership ( PPP) business model adopted by the Federal Government and the multinational oil companies.

The NLNG is jointly owned by Nigerian National Petroleum Corporation (NNPC) with 49%, Shell Gas B.V. with 25.6%, Total LNG Nigeria Ltd with 15%, and Eni International with 10.4%.

The partnership model allows for shared risks, costs, and expertise in the LNG sector.

The governor noted that the NLNG has not only survived the difficult business environment but has made sustained progress in the nearly three decades of its existence.

According to him, the decision of the Federal Government to allow the multinational oil companies who have the  needed expertise to run the establishment while government plays a supervisory role over it has largely been responsible for its  success.

“I’m very proud to say that if there is one establishment that has shown resilience, that has survived in the face of all the political issues prevalent in this country, it is the NLNG. And what is the reason? The reason is very simple. Government has no business in business. That is the truth. Leave the business for those people who can operate it. Let the government play its supervisory role to ensure that there is compliance with  the laws;  ensure that standards are maintained and also ensure that the right people with the needed  expertise are at the helm of affairs. That’s all. I think that is the reason why we still record a lot of successes in NLNG,” he said.

In his opening remark, the new NLNG boss, Mr Adeleye Falade, who led other top officials of the company on the visit, expressed appreciation to the governor for granting them audience, and appealed to the State Government to continue to support the organisation.

“We appreciate the opportunity to meet with you and deepen this important relationship.We deeply value the support the Rivers State Government continues to extend in fostering an enabling operating environment for businesses. NLNG remains deliberate in its contribution to Nigeria’s development, and Rivers State, our primary host, continues to be central to that commitment,” he said.

Falade said the company has continued to work with its host communities to strengthen their  capacity to identify, prioritise, and deliver sustainable development initiatives that create lasting impact.

According to him, communities including Amadi-ama, Abua, Ekpeye, Okrika, Kalabari, and Emohua have continued to benefit from this model.

He said that beyond community infrastructure, the NLNG  has sustained investments in economic empowerment through initiatives such as Vocational Innovation and Business Empowerment Scheme (VIBES) and  Micro Small and Medium Enterprise (MSME) schemes.

These, he said, were designed  to support small businesses, build capacity, and stimulate local enterprise across the state.

Among officials of the company who accompanied the Managing Director were General Manager, External Relations and Sustainable Development, Dr Sophia Horsfall; Manager, Government Relations, Mr Abdul Umar; Manager, Community Relations, Dr. Yemi Adeyemi; Head of Government Relations, Mr Mike Igoni; Head of Community Liaison and Engagement, Chief Ifeanyi Umeh.

Others are Technical Assistant to Executive Leadership, Mr Hassan Saleh; Senior Media and Publicity Advisor, Mr Emma Nwatu; Government Relations Advisor, Miss Homa Nmegbu; Senior Government Relations Advisor, Mrs Kate Allison, and Audio -Visual Advisor, Mr Dawood Ahmed.

 

 

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