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Buhari presents N13.08tn 2021 budget proposal to NASS

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Buhari presents N13.08tn 2021 budget proposal to NASS

President Muhammadu Buhari has presented the 2021 budget proposal of N13.08 trillion to the National Assembly for consideration and passage into law.

The President, who was accompanied by Vice-President Yemi Osinbajo, some cabinet members and presidential aides, arrived at the premises of NASS at about 11.03pm, according to News Agency of Nigeria.

He explained that the total aggregate revenue projected for the 2021 budget was N7.86 trillion with a deficit of N5.2 trillion, representing 3.4 per cent of the GDP.

He said the deficit would be financed mainly by new borrowing, totalling N4.28trillion.

Buhari stated that the total revenue available to fund the 2021 federal budget was estimated to N7.886 trillion which included grants and aids of N354.85 billion as well as revenues of 60 government owned enterprises.

According to him, the budget, which is described as a budget for Economic Recovery and Resilience, is based on an estimated oil price benchmark of 40dollars per barrel, daily oil production estimate of 1.86 million barrels (inclusive of condensates of 300,000 to 400,000 barrels per day) and an exchange rate of N379 per dollar.

“Based on the foregoing fiscal assumptions and parameters, total federally distributable revenue is estimated at N8.433 trillion in 2021. Total revenue available to fund the 2021 federal budget is estimated at N7.886 trillion.

“This includes Grants and Aid of N354.85 billion as well as the revenues of 60 government-owned Enterprises.

According to him, oil revenue is projected at N2.01 trillion and non-oil revenue is estimated at N1.49 trillion.

“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.

He stated that N3.12 trillion had been earmarked for debt servicing in 2021 as against N2.1trillion in 2020

The President, who reviewed the performance of the 2020 budget so far, said the budget was amended in response to the challenges occasioned by the COVID-19 pandemic.

“As at July 2020, the Federal Government’s actual revenue available for the budget was N2.10 trillion.

“This revenue performance was only 68 per cent of our pro-rated target in the revised 2020 budget.

“At N992.45 billion, oil revenue performed well above our budget target, by 168 per cent. Non-oil tax revenues totalled N692.83 billion, which was 73 per cent of the revised target.”

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Kanu not in court, case adjourned till Oct 21

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Leader of the Indigenous People of Biafra, Nnamdi Kanu, will remain in detention till October 21, 2021.
He was due to be in court on Monday but the Federal Government did not arraign him.
Kanu, who was reportedly arrested in Kenya last month, has been in custody of the Department of State Services (DSS).
Justice Binta Nyako of the Federal High Court in Abuja on Monday adjourned the case till October 21, 2021, over the failure of the Federal Government to arraign him.

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Insecurity made FG to retain DIGs, AIGs, says minister

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The Federal Government on Monday explained why it retained some Deputy Inspectors-General of Police and Assistant Inspectors-General of Police after the appointment of Usman Baba Alkali as Inspector-General of Police.
Minister of Police Affairs, Muhammad Maigari Dingyadi, said the high level of insecurity made the government to retain the senior police officers.
He stated this during the decoration of 24 newly promoted Commissioners of Police to AIGs.
No senior police officer with the rank of AIG or DIG went on compulsory leave when Baba was appointed IGP.
Dingyadi stressed that was the first time of such development in recent history of the Nigerian Police Force.
He said, “The government deliberately took this position to have many hands in the force. With this action, the Police Force has retained experienced professionals that would contribute towards sustaining the relative peace of the country.”
The minister added that the criteria for the appointment of the new AIGs were purely on merit, professional conduct, and individual performance, urging the newly appointed AIGs to redouble their efforts to curb insecurity.
He reiterated that President Muhammadu Buhari has directed Salaries and Wages Commission to come out with new salary structure.
He said, “To whom much is given, much is expected. Officers should re-double their effort in the fight against insecurity which had bedeviled the country today. A lot is expected of you in contributing your quota towards the sustainability of peace and unity in the country.”

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Four more Kaduna school students escape from bandits captivity

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Three students of Bethel Baptist High School, Kaduna, have escaped from their captors.
They escaped from the camp on Monday where they were kept since July 19, 2021.
An aunt to one of the students, who craved anonymity confirmed this on Monday.
According to her, the teenagers had spent five days roaming inside the forest before they finally met another herder who directed them out of the forest.
It was also gathered that one of the escaped students who could recall his father’s phone number borrowed a phone to call home before his father went to pick them up.
“The children were found around Kasuwar Magani on Sunday evening hours after 28 students of the school were released by the bandits. It was the school management that called my in-law to inform us,” she said.
Two other students had escaped from the camps before they were recovered by the police.

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