The Nation Newspaper

Category: autopost

  • Amotekun boss in Ekiti charges residents on adequate security in 2024

    Amotekun boss in Ekiti charges residents on adequate security in 2024

    The state commandant of the Ekiti state Security Network Agency, also known as Amotekun, Brigadier-General Ibukun Olu Adewa (rtd), has charged the residents of the state on the need to support the security outfit by ensuring there is adequate security in the coming year 2024.

    The retired Army Brigadier-General, who stated, this in a press release he personally signed, commended the efforts of all the officers of the corps for their cooperation in 2023.

    He appealed for their continued cooperation in the new year 2024 for a successful tackling of insecurity challenges in the state.

    Brigadier-General Adewa (rtd) appreciated the government of Governor Biodun Abayomi Oyebanji for all his support for Ekiti Amotekun, especially for encouraging and boosting the morale of his officers in their bid to stamp out crime and threats to live and properties in the state.

    Noting that he has been able to effect lots of new developments since coming on board as the Ekiti Command boss in August 2023, part of which was touring all 16 local government areas of the State for familiarisation, cracking down on many criminals in places like Ikere, Ise Ekiti, Emure Ekiti, Ogbese, Omuo, Odo Ado area of Ado Ekiti, Ikogosi Ekiti in Ekiti West Local Government Area among others.

    He used the opportunity to remind the Ekiti state governor, Biodun Abayomi Oyebanji to take into full consideration the better welfare and well-being of the Amotekun officers working assiduously under him to rid the State of crime in the coming year 2024.

    Read Also: Joy as Kano gov reunites parents with their stolen children

    He equally thanked the governor for deeming it fit to increase the salaries of the officers and staff from N20,000 to N30,000 since the month of July, 2023.

    He appealed to the Ekiti state government and the governor, to do something, to urgently encourage the families of the two officers who recently died during the robbery incident that occurred at Ikere Ekiti early December, 2023.

    He called on the governor to urgently consider providing a permanent office structures for the corps in the state, in order to boost their performances.

    He also prayed for the governor, his immediate family, members of his cabinet, all his appointees and his officials and aides for God’s continuous protection, guidance and wisdom to successfully run the affairs of the State in the coming year.

  • Palliatives: NAFDAC slashes charges for MSMEs

    Palliatives: NAFDAC slashes charges for MSMEs

    National Agency for Food and Drug Administration and Control (NAFDAC) has reviewed its charges regime for Micro, Small and Medium Enterprises (MSMEs) in conformity with the global economic realities.

    The agency said the downward review of the processing fees for the renewal of locally manufactured and foreign products was aimed at encouraging investment and boosting the Nigerian healthcare sector amid the global economic downturn

    Rising from its last national council meeting, the agency reduced the extant processing fees for the renewal of registration for locally manufactured products by 65 percent to N44,200 from N68,000 while the processing fee for foreign products witnessed a 45 percent reduction to $450 from $1,000.

    A 10 percent review of tariff structure for facility and inspection fees for Special Economic Zones (SEZs) has also been granted.

    Prof. Mojisola Adeyeye, the Agency’s Director General (DG) said the review was aimed at helping MSMEs survive the temporary economic fallouts of fuel subsidy removal and enhance the ease of doing business in Nigeria.  

    In a statement on Sunday, December 31, by the Resident Media Consultant, Sayo Akintola, the downward review of the administrative charges for late renewal of NAFDAC-regulated products is to make the business environment more investment-friendly in a quick response to the realities of the time.

    Read Also: Excessive litigation over electoral outcome eroding people’s confidence in leadership

    While noting that as businesses across the world confront the disruptions caused by the global economic meltdown, the DG assured that NAFDAC would continue to adopt and implement practical measures to ensure that the projected growth in the MSMEs sector is not seriously affected by the development.

    Adeyeye was quoted as saying, “The response of the Agency was not just to give succour and assistance to existing MSMEs, but also ensure that there is a practical and active fillip to new MSMEs so that the growth of this sector is not discouraged by the current economic trauma. 

    “This is our moment and NAFDAC as a regulatory agency is prepared to back MSMEs and other businesses that are prepared for the innovative and interesting times that lie ahead of us.

    ‘’We have no excuse not to be one of the most productive and prolific economies in the world. We hope to achieve this aim in the incredible numbers of MSMEs that we have.”

    While describing NAFDAC palliatives for MSMEs as a thoughtful and strategic response to the realities of the present time, she added, “These are all indicators of the new spirit of NAFDAC and foretaste of the support MSMEs stand to enjoy in wading through these trying times.

    “But this is not a new undertaking for us. It is merely an extension or intensification of the federal government’s long-standing commitment to MSMEs.”

  • Tinubu’s aide holds first drone show, doles out brand new car

    Tinubu’s aide holds first drone show, doles out brand new car

    A resident of Abuja is set to walk away with a brand new car as Office of the Senior Special Assistant to the President on Social Events has concluded arrangements to hold the first biggest drone count down show in Nigeria.

    Coming up on Sunday, Dec. 31 at Eagles Square Abuja, the show is open for all as Office of the Senior Special Assistant to the President on Social Events has graciously made entry free for all.

    It would commence with a road walk at 9pm before guests finally converge at the event venue where the countdown to 2024 will commence.

    Tagged Nigeria Countdown 2024 with hashtag “Rep Your Culture” the show is targeted at showcasing the rich cultural attires of Nigeria and it will be hosted by some of the finest entertainment icons, MC Tagwaye, Ehis, with several musicians such as Magnito, Harrysong, Nazboi, and host of others as well as comedians like Sarkin Dariya, Chuks D’General and more.

    It was strategically put in place by to enable Nigerians all over the country usher in the new year with excitement and optimism.

    Read Also: End-of-year-gratitude: Nancy Isime appreciates God for incredible opportunities in 2023

    It will also feature raffle draw the individual with the best traditional outfit will go home with a brand new car.

    The Senior Special Assistant to the President on Social Events, Princess Ajanah, said the event avails thousands of Nigerians, especially Abuja residents to unwind, having worked hard to weather the storm since beginning of the year.

    She assured that adequate security, transport for those coming from Zuba, Nyanya, Maraba and refreshments has been put in place for every guest.

    The event will be covered by the world largest TV network, CNN.

  • Pray, support Tinubu to succeed, Gov. Buni charges Nigerians

    Pray, support Tinubu to succeed, Gov. Buni charges Nigerians

    • Says normalcy restored to Yobe State

    The Governor of Yobe State, Hon.  Mai Mala Buni CON. yesterday urged Nigerians to sink their differences and support President Bola Ahmed Tinubu’s administration to succeed in moving Nigeria forward.

    He said once the President succeeds, it will translate into a better life for Nigerians. He said it is a contradiction for the citizens to wish their leaders to fail and expect improvement in their lives.

    Buni made the plea at the closing ceremony of the 38th edition of the National Qur’anic Recitation Competition in Damaturu.

    He said:  “I enjoin us all to take advantage of this glorious moment of the Qur’an recitation to pray for the peace, unity, stability and progress of our country because we have no any other country but Nigeria.

    “Nigerians should, irrespective of our religious, ethnic, cultural and political backgrounds, pray for our President, Bola Ahmed Tinubu and all other leaders to succeed in piloting the affairs of the country.

    “It is a moral duty and responsibility to put aside our differences and extend the necessary support, cooperation and prayers to His Excellency, President Bola Ahmed Tinubu to succeed in his determination to improve the economy, security and other challenges for the betterment of Nigerians.”

    Buni warned the citizens against wishing Nigerian leaders to fail in office.

     He added: “l wish to state without fear of contradiction that the success of the President is the success of Nigeria and Nigerians.

    “It amounts to huge contradiction for citizens of a country to pray against their leaders, wish their leaders to fail and yet, expect improvement in their lives. There is the absolute need for us to change from such negative attitudes.

    The governor said normalcy has returned to the state with everyone pursuing his/her legitimate business unhindered.

    He gave insights into how his administration has restored peace and unity to the stat

    He said: “This administration has carefully cultivated the culture of resilience, tolerance, and peaceful coexistence among the people.

    “It may interest you to note that at a time when the Qur’an recitation was taking place among the Muslim faithful, the Christian community was holding unity Carol for Christmas with participants drawn from the six states of the North-East sub-region,” he said..

    Buni said the recitation competition was in consonance with his government’s policy on education rejuvenation.

    He said:  “Under the programme we have reconstructed schools destroyed by the insurgency and established more, to create a conducive atmosphere for teaching and learning.

    “Similarly, we have employed more qualified teachers, trained the existing teachers, provided books, and other instructional materials to add value and promote quality education in the state.”

    Speaking at the occasion President Bola Tinubu, represented by the National Chairman of the All Progressives Congress Dr. Abdullahi Umar Ganduje, commended Yobe state government for hosting the event.

    Read Also: Peter Obi pledges N5millions to support Plateau attack victims

    He said such occasions foster unity and understanding among the various groups from different states.

    “Such events provide opportunity to appreciate one another and see ourselves as one entity,” he said

    He charged the organizers of the Qur’an recitation competition to explore and introduce scientific measures into the competition.

    While Ganduje, donated N10m on behalf of Ganduje foundation. the Senior Special Assistant on Political Affairs to the President, .Alh. Ibrahim Masari, donated three cars to the winners.

    Governor Buni donated two Hajj slots to two competitors.

    The best male competitor, Ibrahim Muhammad Nasir from Bauchi State, received N5million and a car.

    Also,  the best female competitor, Zainab Aliyu Muhammad from Kano State also received N5million  and a Honda Accord car.

    The Sultan of Sokoto, Muhammad Sa’ad Abubakar lll commended Governor Buni for hosting the 38th edition of the National Qur’anic  Recitation Competition.

    He said: “I want to thank Your Excellency, Governor Mai Mala Buni for shouldering this responsibility which is exceptionally successful.

    “Your leadership is a shining example for other Muslim leaders in the country.”

    He urged Muslims to redouble their efforts in spreading Islamic knowledge as “preached by the noble Prophet Muhammad, Peace Be Upon Him”.

    He expressed satisfaction with the participation and performance of the participants from the southern part of the country.

  • Joy as Kano gov reunites parents with their stolen children

    Joy as Kano gov reunites parents with their stolen children

    Kano State governor, Abba Yusuf, has reunited seven children from Bauchi State who were victims of an interstate human trafficking syndicate with their parents.

    The Police in Kano busted an inter-state child abduction and trafficking syndicate and arrested nine suspects after months of tracking across seven states.

    The investigation was initiated by the Police Command in Kano state following reports of missing children.

    The state Commissioner of Police, Husseini Gumel, told newsmen in Kano that the syndicate had been operating for over 10 years, and allegedly specialised in inter-state trafficking, abduction, buying and selling of minors.

    He said diligent investigation helped to dismantle the syndicate which has members in Kano, Bauchi, Gombe, Lagos, Delta, Anambra and Imo states.

    Yusuf, who was moved to tears of joy by the commendable efforts of the Kano State Police Command, expressed his appreciation for their work.

    The governor, however, expressed dismay by the discovery of seven children abducted from Bauchi state and then trafficked and sold in Anambra and Lagos states.

     Yusuf urged parents to remain vigilant and attentive to the well-being of their children as a fundamental responsibility.

     He also called on his Bauchi State counterpart to take decisive legal action against the arrested suspects.

    Read Also: Peter Obi pledges N5millions to support Plateau attack victims

    Responding on behalf of other parents, Malam Abdulmutallif Sa’ad from Bauchi, expressed their gratitude to Yusuf and the Kano police command for recovering their children and pledged to be more vigilant.

    The nine suspects apprehended by the Kano state police command were brought alongside the children they stole from Bauchi state and intercepted at Mariri motor park in Kano while en route to Lagos and Anambra states.

    Speaking on behalf of the Bauchi state government, Mrs Sha’awanatu Yusuf, the Director of Public Prosecution at the state Ministry of Justice, emphasised the unity of Kano and Bauchi states for greater good.

     She assured that the Bauchi state government would take the necessary legal steps to ensure that the suspects were brought to justice and face the full consequences of the law.

     Additionally, the Kano state governor donated N500,000 to each of the seven recovered children.

  • Akeredolu: Nigeria lost a great man – First Lady

    Akeredolu: Nigeria lost a great man – First Lady

    • Senate, Ohanaeze, others mourn lateOndo governor

    The First Lady, Oluremi Tinubu has condoled with the widow of the late Ondo State Governor, Mrs Betty Akeredolu.

    The First Lady, who was at the Ibadan residence of the Akeredolus, noted that the late Governor Rotimi Akeredolu fought gallantly to stay alive, but “every human existence is subject to the will of God.”

    First Lady Tinubu noted that the nation had lost one of its great men, telling the widow “he did his best. God will be there for you.  When God shows up for you, that is what really matters.”

     According to a statement issued by her spokesperson, Busola Kukoyi, the First Lady admonished Mrs Akeredolu and the family to take solace in God and trust in Him alone at this trying time, praying that God may continue to uphold the family.

    Responding on behalf of the family, brother to late Governor, Professor Oluwole  Akeredolu, said the exit of  Governor “is a painful one at this time, but the family is consoled by the fact that he has gone to rest.”

    He thanked the First Lady and her entourage for the condolence visit which he described as a great honor.

    Her entourage included the wife of the Vice President, Hajia Nana Shetima, wives of members of the National Assembly, wives of state governors of Lagos and Ogun, wife of the APC National Chairman and others.

    Meanwhile, the Senate yesterday observed a minute silence in honour of  the late Ondo State governor and a former Speaker of the House of Representatives, Rt. Hon. Ghali Umar Na’Abba.

    The resolutions of the Senate followed motions moved by Senator Jimoh Ibrahim (APC – Ondo South) and the Deputy Senate President, Senator Barau Jibrin (APC – Kano North) respectively on the floor.

    Barau was the Chairman of the House of Representatives Committee on Appropriations during Na’Abba’s tenure as the Speaker between 1999 and  2003.

    Moving the motion, Senator Barau said the late Speaker stood firm for the independence of the legislative arm of government during his tenure as Speaker.

    He said the deceased was instrumental to the successful take-off of the House of Representatives by putting in place all necessary structures needed to galvanise a new legislature to perform its functions.

    He called on the Senate to honour Na’Abba’s contributions to the development of the legislature in the country by observing a minute silence.

    ”This is to officially inform this august sitting of the death of the founding presiding officer of the House of Representatives of the Fourth Republic, Rt. Hon. Ghali Umar Na’Abba, who died on Wednesday. He died in Abuja and was buried in Kano according to Islamic rites.

    “He was the Speaker of the House of Representatives between 1999 and 2003. He fought to put in place the necessary structure for the take off of the House of Representatives of the Fourth Republic. He was a dogged fighter who stood firm for the independence of the legislature.

    ”He will ever be remembered for the sacrifice he made to make sure the House of Representatives was put in the best place to perform its functions. He needs to be honoured by this distinguished Senate for his contributions to the development of the legislature of this country. I hereby urge that a minute silence be observed in his honour,” Senator Barau was quoted in a statement by his media aide, Ismail Mudashir.

    Seconding the motion, Senator Adamu Aliero (PDP, Kebbi Central), said the late Na’Ábba played a prominent role in the Fourth Republic as the Speaker.

    The President of the Senate,  Godswill Akpabio, in his remarks, said Na’Abba was a pillar in defending the independence of the legislative arm at the onset of the Fourth Republic.

    He recalled that it was during Na’Abba’s tenure that elaborate rules of the legislature were formulated.

    On his part, Jimoh Ibrahim described the late Akeredolu as an impactful leader who championed the development of the Southwest in particular and the country in general.

    “He was instrumental to the establishment  of Amotekun Security outfit and he was President of the Nigerian Bar Association (NBA),” he said.

    He was a veritable voice of reason- Reps Southern caucus

    In a related development, the Southern Caucus of the House of Representatives, under the leadership of  Hon. Nicholas Mutu expressed its heartfelt condolences to the Ondo State government and the immediate family of the late governor.

    The caucus in a statement by its Secretary, Hon. Afam Victor Ogene, described the death of the governor as painful.

    It also condoled the Ondo State House of Representatives members over the demise of the governor.

    It described Akeredolu who was at a time President of the Nigerian Bar Association (NBA) as an accomplished legal luminary, intellectual and courageous voice of reason whose individuality and unambiguity on issues of societal and national importance were never in doubt.

    Hon. Ogene said further, “Aketi was a charismatic personality, who contributed immensely to the development of Nigeria’s legal profession and democracy, with passion, grace and fearlessness.

    “He loved his people so passionately that it was never in doubt where he stood on matters that concerned the Yoruba race, the south and his immediate constituents, the Ondo people.

    “Arakunrin was always there in the forefront, to speak for his people, fight for their interests and was an advocate for equity and fairness in the Nigerian system, till the end.

    “The nation will miss Aketi. The South West has indeed lost a warrior. A courageous fighter. And the law profession has lost a voice, an intellect and a giant.

    Read Also: Peter Obi pledges N5millions to support Plateau attack victims

    “As a caucus, we pray that the good Lord would grant his family the fortitude to bear the painful exit of this remarkable leader, family man and father. May his soul find eternal peace in the bosom of his creator.”

    Ohanaeze mourns late gov

    Apex Igbo sociocultural group, Ohanaeze Ndigbo Worldwide, described the late Akeredolu as a courageous man who spoke truth to power.

    The Igbo group also described him as a great in-law, inter-ethnic genius and a soldier of democracy and the popular sentiment of the Southwest politics.

    In a statement issued in Enugu yesterday, through its National Publicity Secretary, Dr Alex Ogbonnia, Ohanaeze said it received with grief the news of the passing of “an Angel of history; a robust visionary, purveyor of morals, the jinx breaker, the former President of the Nigerian Bar Association, a legal luminary and Senior Advocate of Nigeria, an inter-ethnic genius, the two-term governor of Ondo State and the former Chairman of the South West Governors Forum, His Excellency, Rotimi Akeredolu, SAN; CON.”

    It said the former governor was not only an exceptional in-law of the Igbo; he was also their noble son by the reason of marriage to their adorable daughter, Her Excellency, Mrs. Betty Anyanwu- Akeredolu.

     “It is noteworthy that the Ohanaeze Constitution confers Igbo citizenship on our in-laws and their offspring.

     “As long as the marriage with Betty lasted, Akeredolu displayed an unflinching fidelity, marital exemplariness and a profound commitment to the welfare of the Emeabiam community, Owerri-West, in Imo State.

    “Such a magnanimous relationship was extended to the Igbo community in Ondo State.”

    It added that the President General of Ohanaeze Ndigbo Worldwide, Chief Emmanuel Iwuanyanwu, could not withhold his emotions on hearing the sad news of the demise of “one of our best”.

     The Igbo leader recalled the audacious roles that Rotimi Akeredolu played in the creation of the Western Nigeria Security Network, otherwise called the Amotekun: the zest and steadfastness with which, as the Chairman of the South West Governors Forum, coordinated the zoning of the Presidency to the Southern part of Nigeria.

     Chief Iwuanyanwu cited with freshness how Akeredolu chaired the meeting of the Southern Governors’ Forum in Enugu which emphatically re-echoed the earlier Asaba Declaration for Southern Presidency. Akeredolu demonstrated an extraordinary acumen in the face of seemingly insurmountable obstacles.

    The Igbo Leader aded, “Throughout his career, Akeredolu displayed an amazing social skill, dispositional humility, character comeliness, legal wizardry, irresistible charisma, intellectual prowess and a disarming political acumen.

    “Although Rotimi did not live long enough, but Ralph Waldo Emerson (1803-1882) had asserted that it is not the length of life  but the depth of life that matters. In other words, the Rotimi Akeredolu trajectory is a distinctive tribute to audacity, selfless service, humility, group loyalty, awesome generosity, resilience,  perseverance and Levite spirituality. He has by his granite convictions, left indelible marks in the sands of time”, it added.

  • Excessive litigation over electoral outcome eroding people’s confidence in leadership

    Excessive litigation over electoral outcome eroding people’s confidence in leadership

    Speaker of the House of Representatives, Hon. Tajudeen Abbas said yesterday  that over judicialisation of electoral outcomes in the country is greatly eroding the confidence of the people in the legitimacy of political leadership in the country.

    The Speaker who spoke while addressing his colleagues before the House adjourned for the Christmas and New Year break said the outcomes of elections should be decided at the polling unit and not in a courtroom.

    Speaker Abbas said the House recognises the importance of electoral reforms in strengthening the nation’s democratic institutions and took the initiative to take the lead in soliciting citizens’ input on the Electoral Act 2022 and recommendations on how to strengthen it to deliver more free and fair elections and reduce the judiciary’s influence on the electoral process.

    He said the citizens’ town hall on electoral reforms organised by the House had made far-reaching recommendations that would be considered in amending the Electoral Act.

    He said the House has made significant strides in fostering greater collaboration with citizens in all its key legislative activities which has been achieved through engaging citizens in oversight, committee activities, and other legislative processes.

    According to him, these efforts have ensured that the voices of the people are heard and their inputs are incorporated into the lawmaking process.

    The Speaker disclosed that in the last six months, the House made remarkable progress, and has received and considered nine hundred and sixty-two (962) bills, five hundred (500) Motions, and one hundred and fifty-three (153) petitions.

    He said that out of the numbers, one hundred and Twenty (120) bills have passed the second reading and are currently undergoing further review and refinement to address some of the concerns raised during the debates.

    He said further that another one hundred and twenty-two (120) bills have been referred to committees for in-depth analysis. We have also successfully passed many other bills, which have been transmitted to the Senate for concurrence.

    Some of the bills he said include the Electricity Act (Amendment) Bill, 2023, the Federal Audit Service Act (Amendment) Bill, 2023, 2022 Supplementary Appropriation Act (Amendment) Bill, 2023 and the Oath Act (Repeal and Enactment) Bill, 2023.

    He said “Other critical bills passed by the House include the Control of Small Arms and Light Weapons Bill, 2023, Federal Fire and Rescue Service Bill, 2023, Administration of Criminal Justice Act (Repeal and Enactment) Bill, 2023, Niger Delta Development Commission Act (Amendment) Bill, 2023, Nigerian Medical Research Council (Establishment) Bill, 2023, Nigerian Peace Corps (Establishment) Bill, 2023 and more recently, the South East Development Commission (Establishment) Bill, 2023.

    Read Also: Reps approve securitization of N7.388 Ways and Means

    “The Defence Industries Corporation of Nigeria (Repeal and Re-enactment) Bill 2023 that we passed was assented to by President Bola Ahmed Tinubu on 23rd November, 2023. It repealed the 1964 legislation and replaced it with a more contemporary legislation that empowers the Defence Corporation to manufacture, store and dispose of ordinance.

    “All these bills are intended to provide immediate relief and long-term solutions to the challenges that have plagued our society. Through these bills, we aim to empower our citizens, enhance social justice, promote economic growth, and promote peace and security.

    “Over the same period, the House received and resolved over 500 Motions, many of which brought to the attention of the House and the nation pressing matters affecting the people. I have always considered Motions to be one of the most potent tools of legislative representation.”

  • National Assembly jerks up 2024 budget to N28.78tr

    National Assembly jerks up 2024 budget to N28.78tr

    • Appropriation increased by N1.2 trillion
    • Budget based on exchange rate of N800/1$
    • Lawmakers okay securitization of N7.388tr Ways and Means; president’s request to borrow $7.8bn, €100m
    • Economy will witness boom in 2024 – Presidential aide

    Estimates for the 2024 National Budget went up by N1.2 trillion yesterday  as the National Assembly rounded off its consideration of the Appropriation Bill.

    The two chambers at a special session, passed the budget at N28.78 trillion as against the N27.50 trillion presented to it by President Bola Tinubu on November 29.

    The lawmakers also increased the exchange rate from N750 to N800 per dollar but  the 1.78mbpd daily oil production, US$77.96 oil benchmark price and GDP growth rate of 3.88% were approved as proposed by the President.

    Sequel to the adjustments to the budget proposals, N1.74 trillion is for Statutory Transfer; N8.77 trillion is for Recurrent Expenditure; N9.99 trillion is for Capital Expenditure; and N8.27 trillion is for Debt Service.

    The capital budget increased from the  N8. 7 trillion proposed  by the President to N9. 995 trillion, while the recurrent budget was reduced from N9. 92 trillion to N8. 76 trillion.

    The National Assembly adopted the harmonized report of its joint Committees on Appropriations presented to the Senate by   Solomon Adeola (APC, Ogun West)  and in the HoR by Abubakar Kabir Bichi.

    Speaking before the budget was passed, House of Representatives Speaker,  Tajudeen Abass, said future budgets would  be taken to the people at the constituency level to allow them also to make inputs.

    He said “as representatives of the people, it is essential that we involve citizens in our key processes and decision-making.

    “It was in line with this that the House organised a citizens’ town hall on the 2024 Appropriation Bill, where the public was given the opportunity to express views on how the budget can better address the specific needs of all Nigerians, especially those at the grassroots.

    “The House remains committed to engaging citizens in its activities and ensuring the lawmaking process is open and inclusive. In the coming years, the budget will be taken to the people at the constituency levels to allow them also to make inputs.”

    Speaking with newsmen after the budget passage, Chairman of the House Committee on Appropriation Bichi, said the increase was occasioned by prevailing circumstances in the country as well as the current exchange rate.

    He said after their meeting with the leadership of government owned enterprises (GOEs), it was agreed that the revenue estimate given to them was unrealistic and the fact they have to increase their revenue contribution to funding the budget.

    He said the GOEs were expected to contribute about N700 billion to the budget, adding that in addition to the gain from the increase in the exchange rate, the country would  be able to generate the N12 trillion increase in the budget.

    He said “We have inflation and exchange rate for the dollar, the executive proposed N750 to the dollar, but after we studied carefully, we looked at it, it is unrealistic. So we increased it to N800.

    “Also we had a meeting with the GOEs, we believe that their  submissions were not enough. They have agreed to increase their revenue to 700 billion. That was how we were able to get that 1.2 trillion which we applied to capital.

    “This is the first time capital expenditure is bigger than recurrent. We appropriated about N850 billion for  education. We gave them a lot of money. I believe this budget is brilliant and Nigerians will see a lot of impact.”

    Under the Statutory Transfer, National Judicial Council (NJC) got the highest allocation of N341.626 billion; followed by Niger Delta Development Commission (NDDC) with N338.925 billion; Universal Basic Education Commission (UBEC) gets N263.044 billion; North East Development Commission (NEDC) – N131.836 billion.

    Others include Basic Healthcare Provision Fund (BHPF) – N131.522 billion; National Agency for Science and Engineering Infrastructure (NASENI) – N131.522 billion; Public Complaint Commission (PPC) – N14.460 billion; and N5 billion for National Human Rights Commission (NHRC), respectively.

    Ministry of Defence got the highest allocation of N1.308 trillion, followed by Ministry of Police Affairs – N869.121 billion; Ministry of Education – N857.134 billion; Ministry of Health & Social Welfare – N667.577 billion; Ministry of Interior – N362.552 billion; Ministry of Youth – N201.467 billion; National Security Adviser (NSA) – N199.763 billion; Ministry of Foreign Affairs – N140.456 billion; Ministry of Agriculture & Food Security – N110.248 billion; Secretary to the Government of the Federation (SGF) – N100.248 billion and Presidency – N97.913 billion.

    Senate,HoR  approve securitization of N7.388 Ways and Means

    Also yesterday,the two chambers  considered and passed the securitisation of outstanding 7.388trn debit balance (Ways and Means) in the Consolidated Revenue Fund (CRF) following a request by President Tinubu.

    Tinubu, in a letter read by Senate President Akpabio and HoR Speaker Abass, said while the Federal Government was considering various measures to forestall the use of Ways and Means advances for domestic debt servicing, it had become imperative to securitize the outstanding Ways and Means advanced to the FGN, before the end of the year 2023.

    Tinubu said the securitization of the Ways and Means would  lead to the realization of many benefits.

    The letter reads, “I write to draw the kind attention of the House of Representatives to the provisions of Section 38 of the subsisting Central Bank of Nigeria, (CBN)’s Act 2007, which stipulates that the apex bank may grant temporary advances to the Federal Government in respect of temporary deficiency of budget revenue. provided such overdraft do not surpass five percent of the government’s revenue from the previous year.

    “The House is invited to note that, from available information by the CBN, the Consolidated Revenue Fund (CRF) Account of the Federal Government of Nigeria (FGN) stood at N7,388,696,034,520.87 as at December 11 2023. largely due to domestic debt servicing, principal and interest

    “While the Federal Government is considering various measures to forestall the use of ways and means advances for domestic debt servicing, it has become highly imperative to securitize the outstanding ways and means advanced to the FGN, before the end of the year 2023 The securitization of the “Ways and Means will lead to the realization of the following benefits amongst others

    “a) Reduction of Debt Service Cost, as the Interest Rate for the securitized ways and means advances is lower at 9% p.a compared to MPR-3%

    “b) The savings arising from the much lower Interest Rate could help to reduce the deficit in the Budget

    “c) Improvement in debt transparency as securitized Ways and Means Advances are included in the public debt statistics.

    “In view of the foregoing the House of Representatives is invited to kindly consider and approve the securitization of the outstanding debit balance of N7,388,696,034,520.87 in the CRF as at December 11, 2023.”

    Senate okays Tinubu’s request to borrow $7.8bn, €100m

    The Senate separately approved President Tinubu’s request to borrow $7.8billion and €100 million as part of the 2022  – 2024 borrowing plan of the Federal Government.

    The resolutions of the Senate followed its consideration and adoption of the report of its committee on Local and Foreign Debt during its special plenary.

    Tinubu had said that the Federal Executive Council under former President Muhammadu Buhari approved the loan facility on May 15, 2023 to finance infrastructure, health, education, agriculture, insecurity and other sectors.

    He further explained that the foreign loan had become necessary to bridge the financial gap and return the economic activities of the country to normalcy.

    The funds, he said, would be used to develop infrastructure, agriculture, health, education, water supply, security and employment as well as financial management reforms.

    Nigeria’s economy ‘ll witness boom in 2024 – Tinubu’s aide

    The presidency has assured Nigerians that the country’s economy will witness a major turnaround  in 2024 with efforts being made by President Bola Tinubu to change the narratives.

    Senior Special Assistant to the President on Media and Public Affairs,  Temitope Ajayi, gave the assurance  in Ikere-Ekiti, headquarters of Ikere Council  Area of Ekiti State  during a get-together party organised in his honour by Annunciation School Old Boys Association (ASOBA) 1995 set.

    He said that the Federal Government was working round the clock to revamp the economy and invariably address the current hardship Nigerians are facing.

    Ajayi averred that President Tinubu was committed to fulfilling his renewed hope agenda for the country, adding that Nigerians will soon witness the positive impacts of the current programmes and policies of his administration.

    Ajayi, who acknowledged the economic challenges confronting the citizens,expressed optimism that the president and his team are assiduously working to change the narratives in the new year for the betterment of Nigerians.

    He pleaded with Nigerians to have trust in President Tinubu’s efforts towards re-engineering the nation’s economic, social and infrastructural structures in order to birth a new Nigeria that would work for all, irrespective of social and economic status.

    He said, ” Nigerians should look forward to a great year in 2024. The president is going to speak to Nigerians on January 1st in a national broadcast where he is to once again highlight some of the reforms he has taken and what he is doing to make sure Nigerians feel the impact of his government.

    ” Of course, things are a bit tight but the president is working round the clock to make sure that Nigerians feel a new sense of life starting from next year; it is going to be a year of prosperity, a year of abundance, a year for economic breakthrough, a year of a lot of social engineering, where Nigerians will see high impact economic projects that will transform our lives, that will give us a good quality of life in roads and other critical infrastructures that this economy needs to take off and really boom.

    “Those are things the president is focusing on and he will remain focused on them in 2024 and throughout his tenure.”

  • Thank you 2023 for the heartaches, blessings, opportunities – Osas Ighodaro

    Thank you 2023 for the heartaches, blessings, opportunities – Osas Ighodaro

    Popular Nollywood actress and ex-beauty queen, Osas Ighodaro has penned down a short note to the year 2023 as it takes a bow in less than 24 hours. 

    The mother of one shared a video of her dancing into the New Year as she expresses gratitude for her beautiful encounters and experience in 2023..

    She appreciated the year for its blessings, lessons, heartache, celebrations, revelations, opportunities, and love.

    Read Also: 2023 most challenging, yet most rewarding year – Judy Austin

    She also appreciated 2023 for its peace, love, and blessings as she prayed for 2024 to be good to her.

    “2023 I dance with you as you take a bow…Thank you.…for all the blessings, lessons, heartache, celebrations, revelations, opportunities, love… I give my gratitude. Thanking God always and looking forward to what’s to come. Thank you 2023- Peace, Love & Blessings… LEGGGGGO 2024 – Please be good to us!!!”, she wrote.

  • Accept your past without regret, handle your present with confidence – Portable

    Accept your past without regret, handle your present with confidence – Portable

    Controversial musician, Olalomi Oyegbile, popularly known as Portable, has shared nuggets regarding imbibing the culture of prayer to his fans and supporters.

    The musician was seen with a bunch of ladies in a video where he was telling them his key to success.

    Recall that he had recently fought and defeated his fellow celebrity, Charles Okocha in a boxing tournament.

    Read Also: End-of-year-gratitude: Nancy Isime appreciates God for incredible opportunities in 2023

    Sharing his tips for greatness he said: “When you dey pray, prayer becomes a habit. You no understand? If prayer becomes a habit, success becomes a lifestyle. Accept your past without regret, handle your present with confidence”.