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FEC okays N895bn supplementary budget for military, COVID-19 vaccines
The Federal Executive Council has approved the draft 2021 supplementary budget of N895,842,462,917 for the purchase of military equipment and COVID-19 vaccines.
This was disclosed to reporters on Wednesday by the Minister of Finance, Budget and National Planning, Zainab Ahmed, after the week’s FEC meeting in Abuja.
According to her, the draft contains N770.60bn to further enhance the capacity of the defence and the security agencies to address current and emerging security challenges in Nigeria; while N83.56bn has been set aside for COVID-19 vaccine programme, covering 30 million vaccines from Johnson and Johnson and the logistics costs related to the deployment of the vaccines.
She said, “It also contains the sum of N1.69bn for the Nigeria Comprehensive AIDS Programme that is currently operating in the states and an additional contingency provision of N40bn under the public service-wide adjustments to take care of the needs for allowances to the health sector, to the education sector and other wage related issues. This is an incremental provision over N100bn already provided in the 2021 budget.
“In line with this approval, we’ve also been given approval to draw down on some existing World Bank loans totaling about N39.58bn as part of the financing source for this supplementary budget.
“We’ll be working with the World Bank to restructure some of the existing facilities to realise this N39.58bn. We’ve also been given approval to withdraw N135bn from some special reserve levy accounts to part-fund this supplementary budget, but specifically related to COVID-19 vaccine, salaries and other health-related expenditure as well as the recurrent component of the Defense and Security expenditures.
“Finally, this approval also contains an approval to borrow the sum of N722.53bn for security expenditures and these are the capital components of the security expenditure in the absence of any other additional supplementary sources of borrowing. This borrowing would be done from the domestic international capital market.”
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I’m alive, Obasanjo reacts to death rumour
I’m alive, Obasanjo reacts to death rumour
Former President, Olusegun Obasanjo, has said he is alive, hale and hearty.
He stated this in reaction to rumours of his death being reportedly spread on some social media platforms.
He spoke in Osogbo, Osun State, during the inauguration of the Old-Garage/Oke-Fia Road reconstructed by Governor Ademola Adeleke.
Obasanjo said those who wanted him dead were spreading the rumour of his death on the social media.
He said, “I heard the rumour that I was dead. I saw it on the social media. I quickly told my children and my relations that it was not true and that I’m alive.
“Those that want me dead, that is their wish, but God still keeps me alive.”
Obasanjo praised Adeleke for his performance in Osun and charged the governor to keep up the work.
Governor Adeleke assured the people of the state that his administration would complete all the ongoing projects.
“My dear people of Osun State, our administration has constructed over 120 kilometres of roads across the state.
“Two major flyovers are also progressing to completion at Osogbo while work is progressing at the Ile Ife Flyover and Ilesa dualisation.”
News
Tinubu jets out to France on three-day visit
Tinubu jets out to France on three-day visit
President Bola Tinubu will travel to France today (Wednesday) for a three-day state visit at the instance of the French president.
A statement issued by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, confirmed this.
It said, “The Nigerian leader’s three-day visit, which will focus on strengthening political, economic, and cultural relations and establishing more opportunities for partnership, particularly in agriculture, security, education, health, youth engagement and employment, innovation, and energy transition, promises significant benefits for Nigeria.”
Onanuga said Tinubu and Macron would harmonise positions on stimulating more interest in exchange programmes that focus on skill development for youths and improving their competencies in automation, entrepreneurship, innovation, and leadership.
“Both leaders will participate in political and diplomatic meetings highlighting shared values on finance, solid minerals, trade and investments, and communication,” he added.
“They will also witness a session by the France-Nigeria Business Council, which oversees private sector participation in economic development.”
The presidential adviser stated that the Nigerian first lady and her French counterpart would discuss solutions for empowering women, children, and the most vulnerable through the Renewed Hope initiative.
News
Yahaya Bello reports to EFCC office with lawyers
Yahaya Bello reports to EFCC office with lawyers
A former Governor of Kogi State, Yahaya Bello, on Tuesday visited the Economic and Financial Crimes Commission (EFCC) to honour another invitation extended to him over alleged misappropriation of funds.
Bello went to the anti-graft office with his lawyers in the morning.
The ex-Kogi governor reportedly drove himself to the EFCC’s office in a black Toyota Hilux van with some lawyers.
He was said to have been taken by some operatives of the agency and are currently being grilled.
This is coming after the Supreme Court judgment which dismissed a suit brought by some state governments challenging the constitutionality of the agency.
The EFCC at the last hearing on November 14, sought the adjournment till November 27 in the fresh case it instituted against Bello.
It stated that the 30-day window was still running for the summons earlier issued.
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