News
2021: Amaechi seeks approval for N205bn transport capital projects
The Minister of Transportation, Rotimi Amaechi, has presented a capital budget of N205,161,882,492 for 2021 to a Joint Committee of the Senate and House of Representatives on Land and Marine Transport.
According to him, land transport will have N204bn while marine transport has a total of N845m with an overhead cost of N358m.
He made the presentation of the proposed appropriation on Friday in Abuja.
The minister said, “The total capital appropriation of the ministry for 2020 is N70,365,081,808; land has N69,667,177,564; marine N697,904,244, out of which N36,018,702,122, representing 51.49 per cent, has been released to date with Land having N35,928,905,544.77 and Marine with N89,796,577.50 has been utilized as of November 2, 2020.”
A statement made available to journalists by the Special Assistant to the Minister on Media, Mrs Taiye Elebiyo-Edeni, said, “The sum of N245,494,182.42 was appropriated for overhead expenditure out of which N176,926,909.26 was released; the sum of N157,956,153.18 of the released amount was expended as at Oct 28, 2020.
“The ministry is proposing a total capital budget of N205,161,882,492 with Land transport estimates is N204,316,793,527, marine transport estimates N845,088,965 with the overhead of N358,799,999 in the 2021 budget which is before you for consideration.
“The aims and objectives of these proposals are to make significant progress on all ongoing projects and to complete and deliver modern railway services that would provide an efficient and cost-effective alternative transport system for economic growth and creation of job opportunities for the citizenry.”
Amaechi noted that the Nigerian Institute of Transport Technology (NITT), Zaria and Nigerian Railway Corporation (NRC) are fully funded from the national budget while National Inland Waterways Authority, Maritime Academy of Nigeria and Council for the Regulation of Freight Forwarding in Nigeria (CRFFN) derive their funding from both the national budget as well as the Internally Generated Revenues (IGR).
The minister stated however that three of the agencies under the ministry, the Nigerian Ports Authority (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA) and the Nigerian Shippers’ Council (NSC) are fully self-funding and make reasonable remittances to the consolidated revenue fund.
He said that the major role of the ministry in the marine transport sector was to oversee the monitoring of the implementation of government policies for the subsector, largely carried out by the agencies.
News
Tinubu requests Senate approval for $8.6 billion, €100 million loans for projects
Tinubu requests Senate approval for $8.6 billion, €100 million loans for projects
President Bola Ahmed Tinubu has requested that the Senate authorize him to borrow $8,699,168,559 and €100 million to fund important projects around the country.
The president’s appeal was contained in a letter delivered by Senate President Godswill Akpabio at the start of plenary on Tuesday.
Tinubu said in the letter that the request was part of the federal government’s 2022-2024 foreign borrowing strategy, which had been approved by previous President Muhammadu Buhari’s administration.
He said the projects to be funded with the loan cuts across different sectors of the economy, and were selected based on economic evaluation and the expected contribution to the country’s development.
The letter reads, “I write in respect of the above subject and to submit the attached the federal government 2022-2024 external borrowing plan for consideration and early approval of the National Assembly to ensure prompt implementation of the projects.
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“The Senate may wish to note that the past administration approved a 2022-2024 borrowing plan by the Federal Executive Council (FEC) held on May 15, 2023.
“The projects cut across all sectors, with specific emphasis on infrastructure, agriculture, health, water supply, roads, security, and employment generation as well as financial management reforms.
“Consequently, the required approval is in the sum of $8,699,168,559 and €100 million.
“I would like to underscore the fact that the projects and programmes in the borrowing plan were selected based on economic evaluations as well as the expected contribution to the social economic development of the country, including employment generation, and skills acquisition.
“Given the nature of these facilities, and the need to return the country to normalcy, it has become necessary for the Senate to consider and approve the 2022- 2024 external abridged borrowing plan to enable the government deliver its responsibility to Nigerians.”
Tinubu requests Senate approval for $8.6 billion, €100 million loans for projects
News
BREAKING: Appeal Court sacks Nasarawa Speaker, Ibrahim Balarabe
BREAKING: Appeal Court sacks Nasarawa Speaker, Ibrahim Balarabe
The Court of Appeal sitting in Abuja has sacked the Speaker of the Nasarawa State House of Assembly, Hon. Ibrahim Balarabe Abdullahi, a member of the All Progressives Congress (APC).
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Newstrends reports that in a judgement delivered on Tuesday, the court declared the Peoples Democratic Party (PDP) candidate, Hon. Sa’ad Abdullahi Ibrahim (Turakin-Opanda), as the rightful winner of the election for Umaisha/Ugya State Constituency.
News
Breaking! Appeal Court affirms Sim Fubara’s victory
Breaking! Appeal Court affirms Sim Fubara’s victory
The State and National Assembly Appeal Court sitting in Lagos on Tuesday affirmed the election of Governor Siminalayi Fubara in the March 18 2023 governorship election.
The Appeal Court in a unanimous decision dismissed four separate appeals filed against the governor.
The appeals were filed by Patrick Tonye-Cole of the All Progressives Congress, Beatrice Itubo of the Labour Party, Innocent Ekwu of the Allied Peoples Movement and Lulu Briggs Dumo of Accord Party.
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The court held that all the appellants failed to prove the allegation of non-compliance with the Electoral Act.
The court also faulted the tribunal for dismissing Tonye-Cole’s appeal on the ground that APC sponsored him and had withdrawn the petition against Governor Fubara’s victory.
The appellate court further held that the fact that the APC withdrew its petition against Fubara’s victory does not prevent its candidate, Tony-Cole, from pursuing his appeal.
Breaking! Appeal Court affirms Sim Fubara’s victory
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