News
FG to present 2022 appropriation bill in October
The federal government says the 2022 appropriation bill may be presented to a joint session of the national assembly in October.
Zainab Ahmed, minister of finance, budget and national planning, disclosed this during a press briefing in Abuja on Monday.
The briefing was organised for the minister to provide insight into the recent Gross Domestic Product (GDP) report for Q2 2021 published by the National Bureau of Statistics (NBS).
The minister expressed delight with the GDP report, saying it is the strongest real GDP growth the economy has recorded since Q4 2014.
On the 2022 budget, Ahmed said the federal government plans to raise half of the €6.1bn, part of external borrowing to be used to fund budget deficit, through euro bonds and the remaining half through other windows.
She said a road show will take place from October 11 after the bill has been tendered before the national assembly.
“We will be going on a road show from October 11 after we submit the budget to the national assembly,” she said.
“We will be starting with the roadshow from the Nigerian investors in Lagos and then, we will be meeting with investors in New York and UK and within that week, we will be doing the pricing as well.
“We have an approval in the 2021 budget to fund the budget deficit 50 per cent locally and 50 per cent externally.
“So, the 50 per cent external borrowing is 6.1 billion euros. We are planning to do about half of that in Eurobonds and the other half through other windows such as multilateral and bilateral sources.”
According to the 2022 budget call circular published by the Budget Office, the ministries of works and housing; finance, budget and national planning; and defence will get the highest capital allocations in the 2022 budget.
A breakdown showed that the ministry of works and housing will get the highest allocation of N352.65 billion out of the entire N1.759 trillion capital expenditure for ministries, departments and agencies (MDAs) in the 2022 budget.
The ministry of finance, budget and national planning came next on the list with N158.07 billion. This amount includes N150 billion for Power Sector Recovery Programme Transfer to the Nigerian Bulk Electricity Trading (NBET).
Trailing the two ministries is defence with N128.94 billion and transport with N120.6 billion.
On the state of the nation’s borrowings, the minister said the government is borrowing “sensibly and responsibly”.
Ahmed said the borrowings have resulted in investment in infrastructure such as rail lines which would yield future returns.
“We are borrowing sensibly responsibly to invest on infrastructures in rail and other infrastructures like rail,” she said.
“These investments will make returns in future. If we do not do these investments, we will regret. These investments will return revenue in the future.”
News
Ondo: INEC new challenge as 1.7 million votes decide next gov today
Ondo: INEC new challenge as 1.7 million votes decide next gov today
Today, 1,757,205 registered voters in Ondo State will head to polling stations across its 18 local government areas to elect a new governor who will steer the affairs of the state for the next four years.
This marks an increase in the number of registered voters compared to the 2020 election, which had 1,647,973 registered voters, of which only 580,887 votes were recorded.
The Independent National Electoral Commission (INEC) has expressed its readiness for the exercise, deploying 4,002 Bimodal Voter Accreditation System (BVAS) devices across 3,933 polling units, with 812 units on standby in case of technical hitches.
Speaking on the commission’s preparations, the Resident Electoral Commissioner (REC), Mrs Oluwatoyin Babalola, assured the public that sensitive materials were distributed on Thursday to the Registration Area Centres (RACs) for timely deployment.
READ ALSO:
- Ondo poll: Three gov candidates withdraw for Aiyedatiwa
- $6bn fraud: Judge scolds Agunloye’s counsel over delay tactics
- Emefiele printed new naira notes different from what Buhari approved – Ex-CBN official
Tinubu calls for peaceful polls
President Bola Ahmed Tinubu has called on stakeholders and voters to uphold peace during and after the election. Through his Special Adviser on Information and Strategy, Bayo Onanuga, Tinubu emphasised the importance of the election reflecting the people’s will.
“The president reminds all political stakeholders, especially the candidates, that governance is a privilege bestowed by the people. This privilege must be respected, and Nigerians deserve a free and fair election to consolidate our democracy,” the statement read.
Tinubu also commended the security agencies’ preparedness, with the Inspector-General of Police and the Chief of Defence Staff, assuring professionalism during the exercise.
Ondo: INEC new challenge as 1.7 million votes decide next gov today
News
Late COAS Lagbaja gets CFR honour, buried amid tributes
Late COAS Lagbaja gets CFR honour, buried amid tributes
The late Chief of Army Staff (COAS), Lt. General Taoreed Lagbaja, was on Friday laid to rest in Abuja, amid tears and tributes.
President Bola Tinubu conferred a posthumous award of the Commander of the Federal Republic (CFR) on the late Chief of Army Staff.
The burial took place at the National Cemetery in Abuja to end two days of funeral rites that began in Lagos earlier in the week.
His body was lowered into the grave at exactly 4:41pm after the ceremony that lasted over two hours.
Lagbaja’s casket, draped in Nigeria’s green and white colours, arrived at the cemetery around 3pm in a white funeral wagon after a funeral service at the National Christian Centre in Abuja.
Dignitaries were led to the event by President Bola Tinubu. Others are Vice President Kashim Shettima; the Acting Chief of Army Staff, Lt.Gen. Olufemi Oluyede; the Chief of Defence Staff, Gen. Christopher Musa; Minister of Defence, Abubakar Badaru, and other top government officials and military brass.
President Tinubu announced the conferment of the CFR on the late COAS during the interment at the National Cemetery in Abuja.
The President extolled the virtues of the late warrior, especially his contributions to national security.
According to him, the appointment of Lagbaja as the COAS was one of his finest made so far.
“As an eternal symbol of our appreciation, I have granted the late Chief of Army Staff, the posthumous national honour of the Commander of the Federal Republic of the Niger (CFR),” Tinubu declared.
He thereafter invited the wife of the late COAS, Mariya, to collect the award on behalf of the Lagbaja family amid applause from the congregation.
News
Supreme Court dismisses 16 govs suit challenging EFCC legality
Supreme Court dismisses 16 govs suit challenging EFCC legality
The Supreme Court has dismissed the suit by 16 states challenging the constitutionality of the acts establishing the Economic and Financial Crimes Commission and two others.
The News Agency of Nigeria (NAN) reports that the other agencies are the Independent Corrupt Practices and other related offences Commission (ICPC) and the Nigerian Financial Intelligence Unit (NFIU).
In the lead judgment by Justice Uwani Abba-Aji delivered on Friday, the Supreme Court resolved the six issues raised for determination in the suit against the plaintiffs.
The court held that the laws establishing the anti-corruption agencies were validly enacted by the National Assembly within its legislative competence.
It faulted the claim by the plaintiffs that the EFCC Act, being a product of the United Nations convention on corruption, ought to be ratified by majority of the state houses of assembly.
Delivering judgement on Friday, Justice Abba-Aji ruled that “the EFCC Act, which was not established from a treaty but a convention, does not need the ratification of the houses of assembly.”
-
Sports2 days agoBREAKING: Super Eagles qualify for AFCON 2025
-
Aviation2 days agoDisaster averted as bird strike hits Abuja-Lagos Air Peace flight
-
metro1 day agoCourt orders varsity to pay lecturer N40m compensation for wrongful dismissal
-
Opinion1 day agoApomu king turns warmonger for PDP
-
Education3 days ago12-year-old Nigerian girl Eniola Shokunbi invents air filter to reduce spread of diseases in US schools
-
Politics1 day agoOndo poll: Three gov candidates withdraw for Aiyedatiwa
-
News2 days agoEdo Gov Okpebholo freezes govt accounts, reverses ministry’s name
-
metro2 days agoWe are understaffed, ICPC boss laments