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Buhari signs 2021 budget of N13.6tn into law

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President Muhammadu Buhari has signed the 2021 appropriation bill of N13,588,027,886,175 into law, the Presidency has said.

The Presidency said on its official Twitter handle that Buhari signed the document at the Presidential Villa in Abuja on Thursday.

This is coming 10 days after both chambers of the National Assembly passed the N13.6 trillion appropriation bill and three days after it was transmitted to the President for assent.

The implementation is expected to commence in January for 2021 fiscal year.

The lawmakers had approved N13.6 trillion (13,588,027,886,107) against the N13.08 trillion proposed by the President in October.

They had added N505 billion to the proposed budget.

A breakdown of the approved budget figures shows about N496.5 billion approved for statutory transfers and N3.3 trillion for debt services.

The recurrent expenditure was put at N5.6 trillion with capital expenditure at N4.1 trillion and fiscal deficit at N5.2 trillion (5,196,007,992,292).

It was also learnt that the President on Thursday signed the 2020 Finance Bill into law.

Vice President Yemi Osinbajo, Senate President Ahmad Lawan and the Speaker of the House of Representatives, Femi Gbajabiamila, were said to have witnessed the signing of the budget.

Others at the event are the Secretary to the Government of the Federation, Boss Mustapha, some cabinet ministers as well as top government officials.

Business

Osinbajo launches Kemi Adeosun’s online thrift-for-charity initiative

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Former Minister of Finance, Kemi Adeosun, has launched “Dash Me Store”, an online thrift-for-charity initiative, with Vice-President Yemi Osinbajo as a special guest.
The store, inaugurated on Sunday and established to mobilise resources for distribution to vulnerable people in the society through grassroot charities, provided an opportunity for the former minister to make her first public appearance after leaving office in 2018.
Adeosun resigned as minister in 2018 over a case of a forged National Youth Service Corps (NYSC) certificate she presented as part of her credentials.
She had maintained a low profile after the incident.
She established the Dash Me Foundation, a vehicle being used for the online charity initiative.
In her remarks, Adeosun said the organisation would work closely with charitable organisations in the grassroots to ensure that funds and other materials donated via the Dash Me Store would get to actual beneficiaries.
Speaking at the event, VP Osinbajo said one factor responsible for the impactful implementation of the social investment programmes of the Federal Government was the realisation that one could not reach Nigerians without a plan for the grass roots.
The vice-president lauded Adeosun for the initiative which he described as the first of its kind in the country.
“I am excited to be here for several reasons, but most of all because of Mrs Adeosun’s commitment to the notion that all service to man is actually service to God, and she took that very seriously,” he said.
The VP also said, “This is why, as minister, she prioritized the Social Investment Programmes, when for the first time, the country voted almost N500bn of our annual budget to welfare programmes which are called the Social Investment Programmes, which involved engaging 500,000 young men and women, and also giving microcredit to about two million traders and a home-grown school feeding programme for 9.5 million children daily in public schools across the country.
“I am therefore really not surprised that she has decided to use some of her enormous talent and influence to establish an organization that raises funds and provides resources for indigenous grassroot charities working with orphaned and vulnerable children, disadvantaged youth, and victims of domestic violence.
“What I think is happening here is that philanthropy is not like it used to be when all you needed was a good and kind heart and you didn’t need to plan or organize as you would a business for-profit.
“What Kemi and her team have done is to bring the new notion of social enterprise to this project. Philanthropy runs with the discipline, attention to detail, and financial prudence of a successful business, and she can do all of that, and I am sure her team is imbibing that, given her background in finance in both private and public sector.”
Osinbajo added, “The idea of this thrift-for-charity store is brilliant and the first of its kind in Nigeria. It is a unique model which does not just give to the needy in the conventional way of merely handing out donations.
“It is an innovative and structured way of aggregating donations to earn income to transform the lives of the vulnerable and needy while creating jobs in the process.”

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Full operation begins on Lagos-Ibadan rail line tomorrow – NRC

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The Nigerian Railway Corporation has said it will begin full operation on the standard gauge rail line from Lagos to Ibadan on Tuesday.
The NRC said this is a statement signed by the Lagos District Manager, Mr Jerry Oche, in Lagos on Sunday.
According to him, the Lagos Ibadan Train Services will now be available in the mornings from Tuesday.
“The updated timetable for Tuesday to Friday is as follows: Lagos to Ibadan: 8:00 a:m from Mobolaji Johnson Station at Alogo megi Ebute – Meta Lagos. Also, the train will take off from Ibadan to Lagos: 8:00 am from Obafemi Awolowo Station at Moniya.
“The train will take off from Lagos to Ibadan: 4:00 pm from Mobolaji Johnson Station Alagomji, while from Ibadan to Lagos: 4:00 pm from Obafemi Awolowo Station at Moniya.
“The standard gauge train schedule on Saturday from Lagos to Ibadan: 8:30 am from Mobolaji Johnson Station at Alagomeji while the train will leave from Ibadan to Lagos: 8:30 am from Obafemi Awolowo Station at Moniya.
“For Saturday evening from Lagos to Ibadan: 6:00 pm from Mobolaji Johnson Station at Alagomji, while the train will take off from Ibadan to Lagos: 6:00 pm from Obafemi Awolowo Station at Moniya,” Oche said.
He said that the Alagomeji, Abeokuta, and Moniya were still the stop stations of the Lagos Ibadan Train Services.

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Lagos, Coscharis, Samsung woo more passengers into water transportation

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L:R: General Manager, Marketing and Corporate Communications, Coscharis Group, Abiona Babarinde, General Manager, Lagos State Consumer Protection Agency, Afolabi Solebo, Senior Legal Officer, Lagos State Lotteries and Gaming Authority, kanyinsola , Managing Director, Lagos Ferry Services, Ladi Balogun, Chairman, Ikoyi Obalende LCDA, Rauf Atanda Lawal, General Manager Lagos State Waterways Authority, Damilola Emmanuel and MD, energicity elivate 9ja, George Ogan during a press conference on lagferry " smilin and sailing raffle promo" at the five cowries terminal Falomo.

As part of efforts to decongest the road and increase the number of commuters of water transport, the Lagos State Government has kick-started a raffle promo, Sailing and Smiling raffle to encourage more people to embrace water transportation.

Speaking at a press conference held at the Five Cowries Terminal to commence the promo at the weekend, the Managing Director, LAGFERRY, Ladi Balogun, said commuters stood to win a lot of prizes when they purchased Lagos Ferry Services (Lagferry) tickets.

He said the mega promo being held in conjunction with a private firm, Elivate9ja, and supported by other companies such as Coscharis Group and Samsung, was designed primarily to attract more commuters into waterways travel as well as reward them for their patronage.
His words: “As you are all aware, we recently took delivery of seven additional new boats to increase our fleet to 20. These boats will be deployed in several routes within the state. We will have more capacity to ferry more people; so we decided to use this promo as an incentive to attract more Lagosians to embrace a means of transportation that is safe, fast, devoid of traffic and very reliable.”
Balogun, who used the opportunity to reel out some of the agency’s achievements in the last one year, informed that they had moved about 502,000 passengers across the waterways between February 2020 and now.
He said, “Since commencement of operation, the agency has never recorded any accident. We are enabling commerce by providing logistics solution to business owners, moving their trucks and cargoes through the waterways within Apapa. We are the only operator that can boost of having 20 number of boats in its fleet, thanks to Mr Babajide Sanwo-Olu who is showing unrivalled commitment to improve water transportation. “And of course, we are promoting tourism through regular charter services and we recently ferried the Nigeria male soccer team, the Super Eagles, to Benin Republic for their AFCON tournament.”
In his goodwill message, the General Manager of LASWA, Mr Oluwadamilola Emmanuel, commended the collaboration from both the public and private sector, adding that no single sector could harness its potential alone.
While calling for more private sector participation in the water transportation business, he commended Lagferry for the initiative and the support of other agencies to making the promo possible.
On why the ultimate weekly price is a car, Emmanuel explained that the government was trying to promote the “park and ride” culture, “where you drive to any jetty in the state, park your car at the ample park space provided at the jetty and board a boat to your destination, come back, pick your car and head home.
“The Lagos State Government is committed to the intermodal transport system of road, rail and water, all to be connected through one means of payment system called the cowry card.”
He said
Also speaking, the General Manager Lagos State Consumer Protection Agency, Mr Afolabi Solebo, said that with the involvement of consumer protection agency that it had showed the level of sincerity of all the stakeholders involved in the promo.
Solebo assured passengers of protecting their rights to the last minute and urged them to embrace water transportation as alternative to road.
The Chief Executive Officer, Lagos State Lottery and Gaming Authority, Mr Bashir Are, represented by Senior Legal Officer, Oyinkan Kusamotu, said they would ensure compliance to the promo rules.
He commended the Lagferry for creating awareness for Lagos residents to shift from road to water transportation in the state.
Chief Executive Officer of Elivate 9JA, Mr George Ogan, said the partnership would bring excitement for ferry users through the buying of Lagferry tickets.
He explained that there were lots of prizes such as microwaves, washing machines, television sets and cars.
Ogan said that there would be refreshment for early passengers of Lagferry during the promo.

 

 

 

 

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