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Tag: 2017 budget

  • FERMA completes 88 road projects captured in 2017 budget

    THE Federal Road Maintenance Agency (FERMA) said yesterday over 88 capital road projects that were captured in 2017 budget nationwide had been completed.

    Head of Communication and Public Relations (FERMA) Mrs. Maryam Sanusi made this known in an interview with the News Agency of Nigeria (NAN) in Abuja.

    Sanusi said another 66 road projects that were also captured in 2017 budget were presently at 50 per cent completion.

    She listed some of the completed road projects as including rehabilitation of Biu-WanDali road in Borno, Garkida-Gombi highway, Adamawa and general maintenance and repairs of Bauchi-Ningi Road in Bauchi State.

    The rehabilitation of Awe-Iwo federal road in Oyo State, Benin-Abraka road in Edo; construction of feeder road from Iyah-Obelle in Kogi, rehabilitation of Ribah-Diri-Rijau road in Kebbi State, among others.

    Mrs. Sanusi, however, said the agency was making efforts to ensure that all the roads mapped out for maintenance were completed as and when due.

     

  • Crisis: Senate threatens to dump 2018 budget

    Crisis: Senate threatens to dump 2018 budget

    Nigerians may not have heard the last about the passage of the 2018 budget presented to a joint session of the National Assembly by President Muhammadu Buhari on November 7.

    Senators in plenary Tuesday threatened to dump the fiscal estimate over alleged inconsistencies and abysmal performance of the 2017 budget.

    The lawmakers took turns to criticize the performance of the 2017 budget, taking cognizance of what they called extremely low releases by the Ministry of Finance to fund projected capital projects.

    They insisted that the promised passaged of the 2018 budget before the end of the year was no longer feasible.

    The senators said that the promise by President Buhari that 40 per cent of the 2017 budget would be achieved before the end of the year while remaining the balance of 60 per cent would be rolled over to 2018, has not be adhered to.

    The lawmakers were particularly irked by the observation that Ministries, Departments and Agencies (MDAs), only attained 15-20 per cent 2017 budget performance.

    This, they said, was despite repeated assurances by the executive arm that improvement in releases of funds will be made.

    Most MDAs, they said, were yet to receive funds to pay salaries and as well as fund other recurrent components of the 2017 budget.

    For them, the declaration by the Minister of Finance, Mrs Kemi Adeosun, that N750 billion had been released, remained questionable.

    Senate President, Abubakar Bukola Saraki’s intervention saved the day as no resolution was taken at the end lengthy debate on the performance of the 2017 budget.

    Many of those who contributed to the debate wanted the lifespan of the 2017 budget to be extended to  31st of March, 2018.

    It was the opinion of the speakers that until the 2017 budget attained a high level of performance, the implementation of the budget should not be truncated by the passage of the 2018 budget.

    The debate of the performance of the 2017 budget followed a closed door session where the lawmakers were also said to have bared their minds.

    Although Saraki broached the issue of what really transpired at the closed session, Deputy Senate Leader, Bala Ibn Na’Allah raised a point of order.

    Na’Allah cited Order 42 and 45 of the Senate Standing Rules to buttress his point.

    The Kebbi South lawmaker told his colleagues that the plan to pass the 2018 budget before the end of 2017 was no longer feasible due to prevailing circumstances.

    He warned that the prevailing template of the budget will continue to pose serious challenges to the Federal Government in the implementation of the budget.

    Na’Allah noted that the template was developed and adopted during the Military era specifically when Kalu Idika Kalu was Finance minister.

    He said that issue should be extensively discussed in order to proffer solutions.

    Na’Allah said: “I feel that there are certain aspects that the Senate has so many things to discuss. When we suspended the plenary for two weeks, the intention was to enable committees work. They are supposed to report progress in order to enable the Senate pass the budget before the end of the year or early next year.

    “When we suspended plenary, it was with the idea that the committees will swing into action so we can have a tentative date to pass the budget. From what I have seen, we might run into troubled waters. If we have not appreciated what the problems are, it is important for Nigerians to come here and understand what the problem is.

    “The template we are using will continue to create problems for us. It was created during the Military era. The template cannot work in our country today. From reports we have had, it is obvious that we have problems. We need to know what the problems are. If we have a 2017 budget that has not been executed today and we are considering the 2018 budget, it means there is a problem.

    “The President told us that the 2017 budget was going to achieve at least 60 per cent performance. Today, that has not happened. We need to lay this issue and discuss it. Let us put the facts before the Executive and show Nigerians the difficulties we are facing.”

    Senator Barnabas Gemade, in his contribution suggested that the consideration of the 2018 budget be suspended.

    He also suggested that the lifespan of the 2017 budget be extended to end of March of 2018.

    Gemade said, “This point of order raised is important because of what the public is waiting for. Our two weeks committee work should have led us to where we will lay the report and pass the budget. As was indicted, we need to appreciate the efforts of the executive who is trying to return the budget year from January to December.

    “What we have seen is far from the 40 per cent capital project implementation we were told. In many MDAs, budget performance is hovering between 12 to 15 per cent. In early November, the borrowing plans were brought and we approved it. They said they were going to release more funds. As of now, we cannot say if that is true.

    “In defending the budget, MDAs are supposed to bring their 2017 budget performance to committees. When you look at the budget proposals brought here, many things captured in the 2017 budget were not rolled over. Committees and MDAs need to do some work.

    “We have to set a date for the implementation of the 2017 budget based on the borrowing plans we approved. I therefore propose that we set March 31st for the 2017 budget to be implemented before we can start working on the 2018 budget. We need to guide against abandonment of ongoing projects.”

    Senator Solomon Adeola wondered why the Senate should consider and approve the 2018 budget, when the performance of the 2017 budget is unknown.

    The Lagos West senator prayed the Senate to invite the Minister of Finance, Mrs Adeosun to brief the chamber on the troubling low performance of the budget and why her Ministry is not releasing funds.

    Adeola said, “How can we approve the 2018 budget without knowing the performance of 2017 budget? This is abnormal. From the recent budget defences, it is obvious that MDAs are not ready. Year in, year out, the budget performance is low. Last week, a Minister was asked to excuse lawmakers because he did come prepared. He did not come with the necessary documents to defend the budget of his Ministry.

    “We need to show to Nigerians that the National Assembly is ready to approve the budget. Remember that the President during the presentation of the 2018 budget, said the performance of the 2017 budget will attain at least 40 per cent. But that has not been done. I am suggesting that we invite the Minister of Finance to brief us on the performance of the 2017 budget. We need to be told.

    “Remember how the Executive submitted the MTEF and withdrew it again. It submitted it and withdrew it again. It shows the lack of seriousness on the part of economic managers of the country.”

    Chairman, Senate Committee on Public Account, Senator Matthew Urhoghide, noted that the consideration of the 2018 budget be suspended, pending when the 2017 budget will attain appreciable level of performance.

    He said, “I want to say that the budget of 2018 is already bedeviled. For us to be able to determine the 2018, we need to see the performance of 2017. Many MDAs are complaining that what they are getting for recurrent expenditure is not even for them. More worrisome is the capital expenditure.

    “Last week, the Minister of Finance announced that N750 billion had been released. If this money has been released, MDAs are yet to get this money. With the envelope budgeting they are doing, we do not know what has been given to MDAs.

    “I want to say that every consideration about the 2018 budget should be put at bay. This executive is not serious. Let them tell us what they have done with the 2017 budget. The budget presentation is an annual ritual that is not benefiting anybody,” he said.

    Senator Mohammed Hassan, (Yobe South) proposed the setting up of a technical committee to come up with a standard format on how to handle the 2018 budget.

    He specifically listed the inclusion of N8.5 billion in the budget of Ministry of Power for counterpart funding of the Mambila Power projected when the National Assembly had already approved a loan of $5.5 billion for the presidency.

    He noted that the Senate was told that part of the $5.5 billion loan would be used for the counterpart funding of the Mambila power project.

    Hassan said: “Many of us have been made to do the work of the executive. We need to set up a small technical committee to come up with a standard format on how to handle the 2018 budget. It is very important to do that.”

    Senator Dino Melaye, on his part, described the 2018 budget as a ‘boju boju’ document.

    The Kogi West lawmaker said that it was obvious that the 2018 budget proposal was “garnished with deception.”

    He stated: “The President of the Federal Republic of Nigeria, Muhammadu Buhari, said during the budget presentation that the 2017 budget will be rolled over. I took the 2017 budget and went through it page by page. There is no relationship between the two documents. The budget we received was a ‘boju boju’ budget. Why do we package a 2018 budget that was garnished with deception”

    “There is about N850 trillion with the CBN. There is an outstanding of N1.5 trillion from collection of stamp duties with the CBN. This money has not been remitted. Yet we took over N2 trillion loan. We need to strengthen the office of the Accountant-General of the Federation.

    “The NNPC was supposed to remit hundreds of billions of naira last year. They did not do that. Yet, we say we are fighting corruption. We cannot continue in sin and ask grace to abound. The issue of discussing the 2018 budget should not even arise.

    “Enough is enough. We must ensure that the 2017 budget is properly implemented. We must ensure that the budget is an elitist. What they have brought to us is a just a proposal. We need to give Nigerians a budget that will benefit Nigerians.”

    Saraki who did not subject the points and proposal made to vote noted that if the executive refused to act, by rolling over the 2017 budget as promised, it will be a disaster.

    Saraki added that lawmakers are not magicians.

    He said, “Truly, it is very disheartening and disappointing because we know how much we have put into the budget process. How can anybody who is responsible travel at this period when the budget defence is ongoing?

    “The budget has not been implemented. We cannot be magicians. We just have to work and give a good budget to Nigerians. The executive really needs to sit up. If they have refused to roll over the 2017 projects into 2018, it is a disaster. We have to work with what we have.”

  • IYC compiles names of politicians behind abandoned NDDC projects 

    IYC compiles names of politicians behind abandoned NDDC projects 

    The Central Zone of the Ijaw Youths Council (IYC), Worldwide, Thursday, lambasted some unnamed leaders and politicians in Bayelsa State for hijacking and abandoning contracts awarded by the Niger Delta Development Commission (NDDC).

    Rising from their meeting at Ijaw House, Yenagoa, the state capital, the IYC executive members in the zone lamented that the Abuja-based politicians shared the contracts among themselves and collected the money without executing them.

    As part of their resolutions after the emergency meeting, the IYC leaders said they would soon send a list of the jobs, which were abandoned after huge amount of money, was released by NDDC and the politicians behind them to the Economic Financial Crimes Commission (EFCC).

    They commended the current board of the commission especially the Managing Director of NDDC, Mr. Nsima Ekere, for his uprightness in contract awards but flayed persons, who shortchanged Bayelsa.

    Speaking after the meeting, the Chairman of IYC, Central Zone, Mr. Tare Porri, said the council was pained that NDDC contracts meant for youths to curb restiveness in the state were also cornered by the politicians.

    He said: “We carried out independent investigations and it was revealed that water hyacinth job that was hitherto given to the youths, were diverted by our leaders and politicians. They shared the jobs among themselves and never gave a single job to the youths in this zone.

    “We are aware that some bigwigs in the National Assembly took some of the jobs. Our waterways in our respected communities are blocked because of water hyacinth. They took these jobs without executing them.

    “It is unfortunate that our leaders shared the jobs without given any one to our youths I the central zone. IYC central zone frowns at that and we are condemning that act in its entirety knowing that the jobs were awarded to ensure the actualisation of the purpose of the jobs”.

    Porri hinted that the NDDC was making preparations to award a new set of water hyacinth jobs, but lamented that the same political contractors had engaged in the process of hijacking the jobs.

    “This time around, we will resist any attempt by leaders who do not mean well for the wellbeing of the youths. We are calling on the MD, NDDC to please follow the laid down procedure in awarding the jobs to persons affected by the hyacinth.

    “The jobs should be given to the youths because when we get the jobs we will ensure that the jobs are done”, he said.

    Porri further pointed out that Bayelsa’s share of contracts in the 2017 budget of NDDC were cornered by politicians, who refused to do the jobs.

    He said: “We don’t know the persons that had taken these contracts, but they are Bayelsans. We don’t know where these jobs are located and we don’t know the value of these contracts.

    “We, therefore, use this medium to call on the MD and the entire board of the NDDC to please furnish the IYC with the details of these contracts. This time around, we will not allow any leader to deceive us again.

    “We frown at the attitude of our leaders who are interested in getting contracts from NDDC but they are not interested in executing the projects. Bayelsa State, central zone, happens to be the state that has highest number of NDDC abandoned projects.

    “Why is it that our leaders are not interested in developing our state even when jobs are being given to them? If these jobs were given to foreigners, we would have been raising alarms but this time the jobs were given to our people but they didn’t do them. We are calling on the MD, NDDC, whom we know as a transparent man to please help us furnish us with the details of these contracts”.

    The IYC boss cried out that the same set of politicians took over other emergency NDDC jobs designed to create economic activities in the state.

    He said the politicians were creating confusion in the state and called on President Muhammadu Buhari to rescue Bayelsa from the greed of a few politicians in the state.

    Describing persons involved in the rackets as Abuja-based politicians, he said the contracts were shared among their cohorts in Abuja without recourse to the plight of youths in the state.

    Porri said: “We want our leaders that had taken these jobs to do the needful by executing these projects that were awarded to them. Failure to do this, Ijaw youths will do everything possible to ensure that those who took these contracts are brought to questions.

    “President Muhammadu Buhari-led administration has resolved to fight corruption. So. We are calling on Mr. President to also help the Ijaw people in the central zone. Our jobs were given to politicians in Abuja not minding what we are going through.

    “In 2017 is when the governor of Bayelsa is trying to construct a road to Agge from Sagbama after 57 years of independence. That road was earlier awarded by NDDC. The governor had to take over the road project.

    “We are calling on the NDDC to work with the governor of Bayelsa state to come up with priority projects that would benefit the collective interest of Ijaw people. As IYC, our interest is development”.

    The IYC boss advised the NDDC board to henceforth award contracts directly to people in the grassroots through established youth structures like the IYC central zone.

  • Edo reduces 2017 budget estimate by 16.49%

    Edo reduces 2017 budget estimate by 16.49%

    The Edo Government said on Friday it has reduced the state 2017 budget to N127.92 billion from N153. 9 billion earlier estimated.

    The decision was taken by the state executive council and communicated through a statement issued by the state Commissioner for Communication and Orientation, Mr. Paul Ohonbamu.

    The statement said after careful deliberation and examination, the 2017 budget estimate of about N153.19 billion was cut down to N127.92 billion, representing 16.49 per cent reduction.

    The government said the reduction was necessitated by the creation of new ministries as well as the current economic realities in the country.

    It also said the new budget estimate would be sent to the State House of Assembly for consideration and passage.

    NAN

  • Senate passes FIRS 2017 budget

    Senate passes FIRS 2017 budget

    The Senate on Tuesday passed the 2017 budget of the Federal Inland Revenue Service (FIRS) of N147 billion.

    This followed the presentation of the report of the Senate Committee on Finance in Abuja.

    While presenting the report, the Chairman of the Committee, John Enoh, said the overhead cost was N46 billion, while capital expenditure was N31 billion.

    He said the FIRS was funded by four per cent cost of non-oil revenue collection which is appropriated by the National Assembly as stipulated in the FIRS Act, 2007.

    “The Service projected to collect N4.89trillion from oil and non-oil revenue for the year 2017,” he said.

    For the agency budget performance in 2016, Enoh said FIRS collected N3.3trillion in 2016 as against the approved collectable tax of N4.08trillion.

    The president of the Senate, Bukola Saraki, later passed the budget after deliberations by the law makers.

    NAN

  • 2017 budget: FG, Senate clash over capital vote

    2017 budget: FG, Senate clash over capital vote

    The Senate on Tuesday disagreed with the Federal Government over plans to release an insignificant fraction of the N2.177 trillion capital vote in the 2017 budget.

    This followed a revelation by the Minister of Finance, Kemi Adeosun, that the government could only release N440 billion out of the total amount.

    Adeosun, who was joined by the Minister of Budget and National Planning, Senator Udoma Udo Udoma, told the senators during an interactive session that the government lacked adequate funding for the budget.

    The ministers said government intends to release over N100 billion this week, in addition to the N310 billion earlier released in the 2017 budget.

    According to the ministers, it would be extremely difficult for the government to meet obligations in capital budget, pointing out that there was N2.3 trillion deficit in the 2017 capital budget.

    Adeosun said the 2017 budget was projected mainly on external borrowing, adding that making further capital releases would depend on how fast the government could push the borrowing process.

    She informed the lawmakers that domestic borrowing would not be enough to fund the gaps in the budget, stressing that the cost of domestic borrowing was getting too high.

    She said borrowing from foreign sources was far cheaper than domestic borrowing.

    She said even if the funds were to be available, government cannot release the entire N2.177 trillion capital vote within the three months left in the year.

    Consequently, the ministers said about 60 percent of the 2017 capital budget would be rolled over to the 2018 budget, just as that of 2016 was similarly rolled over till May this year.

    Worried by the huge gap in the capital budget and the actual amount to be released, the senators warned that the trend could cause serious injury to the economy.

    The senators drew a parallel between Nigeria and Brazil in the handling of economic recession in the two countries.

    The Brazilian economy had suffered recession for eight consecutive quarters but came out of it with 2.46 inflation rate and 10 percent misery rate.

    The lawmakers had challenged the two ministers to explain why the Nigerian economy, which suffered recession for five consecutive quarters would come out with 16.5 percent inflation rate and over 50 percent misery rate.

     

  • Govt to float $2.5b Eurobond to bridge 2017 budget

    Govt to float $2.5b Eurobond to bridge 2017 budget

    The Debt Management Office (DMO) said yesterday  the Federal Government would float Eurobond to raise 2.5 billion dollars before December.

    DMO Director-General Patience Oniha stated this at the 2017 Nigerian Debt Capital Markets Conference and Awards, organised by the FMDQ OTC Securities Exchange in Lagos.

    She said the borrowing would enable the country to bridge the gap in the 2017 budget, which is facing liquidity problem, to finance capital projects.

    Oniha said the proposed Eurobond issuance would complement the 1.5 billion dollars raised from the international market in March.

    She said the nation’s Treasury Bills portfolio stood at N3.7 trillion, adding that DMO planned to refinance it with foreign borrowing to reduce pressure on the domestic market.

    She said that Nigeria needed to build stronger and responsive institutions that could support infrastructure agenda of the government.

    Oniha said government had proposed to channel new borrowings into the capital investments instead of consumption.

    “The debt ratio is not tangible and adequate components of borrowing, because it is not going into funding others than capital investment.

    “Let us channel new borrowings into capital investment instead of consumption,” Oniha said.

    On the N100 billion Sukuk Bond, the director-general said that the Federal Government had identified 25 road projects to be funded with the proceeds.

    She said that among the roads listed were Ore-Sagamu Road, Kaduna Bypass, Enugu- Port-Harcourt Road, Kano-Maiduguri and Benin-Lokoja Road, among others.

    According to her, government has also decided to finance other trunk A roads which will provide the needed support to accelerate the nation’s developmental goals.

    “We need to build the business in terms of products that meet specific needs of investors,” she said.

    Oniha said that the acceptance of the offer was an indication of the viability of the instrument as an investment option, as well as a demonstration of utmost faith in the economy.

    Investors in the offer, which closed on Sept. 22, with a seven-year tenor, included pension funds, banks, fund managers and retail investors.

  • Adeosun, Udoma to face senate over 2017 budget implementation

    Adeosun, Udoma to face senate over 2017 budget implementation

    • As Saraki urges senators to stand for Nigeria’s unity

    Finance Minister, Mrs. Kemi Adeosun and her Budget and National Planning counterpart, Senator Udoma Udo Udoma have been invited to brief the Senate on the implementation of the 2017 budget.

    Senate President, Abubakar Bukola Saraki disclosed this Tuesday in his welcome address to senators.

    The upper chamber resumed plenary Tuesday after about two months recess.

    Saraki said that the invitation of the two ministers became necessary in order for senators to be abreast with the level of implementation of the 2017 budget.

    The Senate President also asked senators to always stand for the unity and indivisibility of the country as well as condemn in the strongest term all forms of violence.

    Saraki said: “By the first week of October, we expect to begin the review of the implementation of the 2017 budget. To set the stage for this, we expect to invite the Ministers of Finance and Budget Planning to come and brief the Senate on implementation so far. Nigerians want to see a more significant improvement in the level of implementation of the budget this financial year. Let me therefore use this opportunity to call on all our standing committees to begin the process of putting together their oversight plan for a close and proper review of the performance of the 2017 Budget. In the same token, we must remind ourselves of the initiative we started and for which we have significant stride – that is, the Made in Nigeria initiative. It is time to enter the next stage of this initiative; the oversight of implementation to ensure that the policy yields expected gains.

    I will like therefore to see the committees demonstrate proactivity and readiness to engage government to ensure that at least a significant portion of our annual budget is fully dedicated to local procurement. All committees of the Senate must be involved in this and find better channels to engage our people and enable feedbacks. However, for these efforts to be successful it is required that we maintain peace and political stability. Hence the need for all of us to fight to keep Nigeria united and prosperous. 

    “Distinguished colleagues, a house divided against itself will not stand. More than ever before, we need to stand for the unity and indivisibility of our country. We must condemn in the strongest possible terms all forms of violence as a form of engagement. The Constitution and laws have laid down tools and procedures for us to push through our interest as all democratic nations do. Our nation is blessed with exceptionally talented and beautiful people, we are collectively strong and indomitable and it is time for all of us to stand up for our nation. Our dream of a virile nation must keep us motivated and this dream is already at the horizon.”

    The Senate President noted that they have in the last two sessions of their term devoted enormous time, working hard on critical legislation, some with historical essence and others with relatively high-level implications for enhancing the welfare of Nigerians and putting food on their tables.

    He expressed happiness that some of the bills which has since become law have already started yielding expected gains.

    “This is especially so with the Secure Transactions in Movable Assets Act, with increased lending to private sector. We expect more to come. Our ultimate aim will be, inclusive growth, full employment for our people and frameworks that enable our young people to run viable startups,” he said.

    Saraki continued: “Distinguished colleagues, as a firm believer that economic security is first and most important security we can offer our people, it is the apparent inadequacy of this security that is at the heart of the general disaffection of our people towards government. We have done this with the belief that with less hunger on the street; with more of our people gainfully engaged; insecurity will be significantly reduced and our economy revamped. In this period, I expect us to conclude work on the National Transport Commission Bill, and the National Road Funds Bill, the Petroleum Industry Fiscal and Host Community Bill which are pending. It is my hope that we shall conclude work quickly on the Bank lending rate reduction initiative and the National Payment Systems Bill.

    “As we continue to take action to strengthen our economy, let me use this opportunity to congratulate all Nigerians for working together to get us out of recession. While we congratulate ourselves for exiting the recession, it is important that we don’t rest on our oars as this is not an end in itself. There is a lot of work ahead. Our aim is to see our economy create millions of new jobs and see growth rates of 7% or more. This is why the implementation of the 2017 budget is crucial.

    “Distinguished colleagues, as leaders, closest to our people, we must rededicate ourselves to the values we have institutionalized in this chamber. In this chamber, we are first and foremost, Nigerians. Yes, we are Igbos, Yorubas, Hausas, Fulanis. Yes, we are Muslims, Christians and traditional worshipers. But we must in all our conversations and decisions continue to be first and foremost Nigerians and as Nigerian citizens be our brothers’ keepers. Too many of our youths, too many of our families from the South to the North need a lifting. Our job is to help government give them a hand and ones again make them feel great again being Nigerians. This is our mission.

    “As we work to even make our Constitution better, it must be remembered that Constitution review is a continuous process which we must undertake with the vision of the future in our minds. The process we have already will continue in earnest with the meeting of the speakers of the various state Houses of Assembly and the National Assembly with a view to moving forward with the process. As promised, we will revisit and consider areas of the Constitution we believe will further strengthen our federation and enable our collective dream for a more prosperous Nigeria.

     “In the fight against corruption, aside the bills we have passed, it is important that we also sharpen up our oversight tools to ensure that government remains accountable always. However, I urge us all to more than ever, operate above board ourselves. In the last two years, we have successfully exposed numerous cases of corruption in our agencies and officers of government and as a result saved government enormous amount of public resources. This is what Nigerian people expect of us and we must continue to deliver on this. We must not make the mistake of resting on our oars. I say this to encourage you to keep up with the good works of exposing corruption as you have been doing so far. Yes, like Senator Isah Hamma Misau who had the courage to expose deep rooted institutional corruption, you will be attacked, blackmailed and insulted but, unlike any former Senate before this, we will not bow or be intimidated.

     “Distinguished colleagues, our focus on interventions critical to our national development will continue in this session. We will be interacting with stakeholders with the aim of repositioning our education sector and the health sector especially with the health insurance subsector as key primers of the economy. The major direction will be to expand access to basic education and health, incentivize investment in these critical sectors and find lasting solutions to issues of strikes and interruption in these sectors.

     “Dear colleagues, we are all witness to the revolutionary growth of innovative works and remarkable fits Nigerians both in the entertainment industry and software development are making across the globe. However, their ability to fully harness and reap the fruits of their effort continues to be hampered by our intellectual property regime which is yet to be reformed to meet with today’s digital realities and opportunities. We are determined to contribute our quota to make their lives easier and better by initiating and paying close attention to our intellectual property (IP) rights frameworks.

     “Distinguished colleagues, a lot has happened in our nation within the last few weeks especially with the floods. Let me take a moment to commiserate with all Nigerians who may have been affected by the recent floods. Our hearts and prayers are with you at this period.

    “On a salutary note, I am happy to report to you distinguished colleagues that while we were away, we also took note of some of the strides Nigerians have been making. We congratulate our women on the wining of the African Basket Ball Championship. We also congratulate our Super Eagles on their journey so far for the world cup qualifiers and we will continue to support and encourage them.

    “Before, I conclude this speech, let me on another winning note and on your behalf welcome Mr. President who has acknowledged his return to office through an executive communication earlier within the period of our vacation back to the saddle. We pray that the almighty Allah will continue to grant him full restoration.”

  • Re-order 2017 budget – Ambode

    Re-order 2017 budget – Ambode

    The Lagos State Government has written a letter to the state House of Assembly seeking its support for the re-ordering of the 2017 Budget.

    Governor Akinwunmi Ambode made the request in a letter he personally signed, and which was read on the floor of the House by the Clerk, Mr. Azeez Sanni during plenary on Monday.

    According to the request, a total sum of N42.028 Billion made up of N31. 105 Billion from capital expenditure and N10.922 Billion from recurrent expenditure would be re-ordered if the proposal is approved by the Assembly.

    It was stated in the letter that the re-ordering would help in upscaling of road construction and rehabilitation to improve connectivity.

    In addition, Ambode revealed in the letter that the re-ordering would be spent on purchasing 700 buses for Lagbus in line with state transportation reforms, upgrading of equipment for the state emergency authority and improving security equipment for better surveillance.

    This will, however, not affect the total budget of N813 Billion passed for 2017.

    Lagos state Budget
    Budget 2017

    The Governor stated in the letter that the 2017 budget has performed 64% by the middle of the year, adding that the re-ordering was necessitated by the review of the priority of the state government.

    “It is now expedient to re-order the budget to address some of the critical expenditures to enhance efficient delivery of services.

    “We want to provide world-class infrastructure to the people of the state.

    “The proposed re-ordering is expected to increase the tempo of good services and address the priority of the state government.

    “It will address main fiscal strategy and sustain expenditure profile, it will drive capital expenditure by improving the capital recurrent ratio,” he said.

    The proposal was, however, not discussed by the lawmakers before the House adjourned sitting.

  • Late passage of budget destroys economy – Obaseki

    Late passage of budget destroys economy – Obaseki

    Edo State Governor, Godwin Obaseki, on Tuesday condemned the late passage of the budget by the Senate, saying it destroys the economy.

    Obaseki said it was unfair for a state like Edo to pass its budget in December only to wait for another six months for its implementation due to delay in the passage of the national budget.

    The governor spoke in Benin City when he hosted the Clifford Ordia- led Senate Committee on Works.

    He said the senators should not expect contractors executing projects to do much because the budget was passed during the rainy season.

    He urged the Senate to create a special fund for construction and maintenance of some key federal roads since the water ways and railways were yet to be fully developed.

    The governor said: “You need to earmark certain fund, dedicated resources for some key federal roads and keep the roads open. Our rails and water ways are not developed and such good road maintenance will affect our economic growth positively.

    On the failed section of the Benin-Lokoja highway at Ekpoma,  Obaseki said he once told the Federal Comptroller of Works not to return to Benin if the contractors were not mobilized to site.

    Senator Ordia told the governor they were in the state to carry out physical assessments of the Lokoja-Benin highway dualization.