The Nation Newspaper

Tag: 2018 BUDGET

  • Wike signs 2018 budget

    Wike signs 2018 budget

    Rivers State Governor Nyesom Ezenwo Wike has signed the 2018 Appropriation Bill  of the state into law.

    The governor  signed a budget of N510billion  passed by the  Rivers State House of Assembly.

    Signing  the budget in the presence of members of the Rivers State House of Assembly and the State Executive Council at the Government House Port Harcourt on Tuesday, Governor Wike assured that the budget will be implemented diligently.

    He said the Rivers State government  would fast track  the implementation  of the  budget, which  will lead to greater development of the state.

    “I commend the State Legislators for expediting the  process that led to the passage  of the 2018 budget. Your passage of this budget means that we will expedite  action on several areas of development.  At present, we have already started work”.

    The governor also called on members of the Rivers State House of Assembly to work with relevant agencies  to implement their respective constituency projects.

    He said funds for the implementation of the 2017 constituency projects have been released , while  that of 2018 will be released after  proper account is given for that of last year.

    The governor also signed the  Keenule Beeson Saro-Wiwa Polytechnic Law No. 3 of 2018, Rivers State Waterways Law No. 4 of 2018 and Rivers State Local Government Law No. 5 of 2018.

    The Speaker of the Rivers State House of Assembly, Ikuinyi Ibani, assured Governor Wike that the State Lawmakers are committed  to the development of the state.

    He described Wike as a just leader who is working selflessly for the good  people of the state.

    Presenting the bills for assent, Majority Leader of the Rivers State House of Assembly, Martin Amaehwule said that the bills passed through a rigorious legislative process.

    The Chairman, House Committee on Information, Sam Ogeh, noted that the  public hearings and budget defence sessions ensured that the people participated in the budget process.

  • FG defends provisions of 2018 budget

    FG defends provisions of 2018 budget

    Mr Ben Akabueze, the Director-General, Budget Office of the Federation (BOF), has defended some provisions of the 2018 budget considered frivolous.

    Akabueze defended the provisions of the budget at a dialogue session with the media and Civil Society Organisations (CSOs) in Abuja on Wednesday.

    The session was organised to enhance the understanding of stakeholders on issues and reform efforts regarding the 2018 budget.

    On the N308 million voted for the procurement of riot control equipment for 37 state police commands, including the FCT,  Akabueze said “this provision works out as less than N10 million per state command, I am not sure what is suspicious here’’.

    “Is it that there are no riots that need to be controlled or that an average of under N10 million per state police command is excessive expenditure on these items?’’

    He said that there were generalisations of items on the Government Integrated Financial Management Information System (GIFMIS) platform which made it impossible to really specify what the items were.

    He added that henceforth, such clarifications would be made to avoid labeling of such items as frivolous.

    “There is N1.1 billion for cleaning and fumigation services for the Office of the National Security Adviser (ONSA).

    “We are not shy to admit that for ONSA because all over the world, matters of national security are treated with some degree of confidentiality,” explained Akabueze.

    He also defended the N2.2 billion for Social Media Mining Suite.

    “The Department of State Service (DSS) may have plans to implement some security protocols to curtail the spread of fake news which may threaten national security.

    “But the DSS has assured us that the intention is not to hinder freedom of speech or information,’’ said Akabueze.

    Regarding the N4.9 billion billed for annual maintenance of mechanical/electrical equipment in the Presidential Villa, Akabueze said the villa was quite an expansive complex, which comprised several offices, residences and other relevant support facilities.

    He, however, said that since the budget was still in the appropriation stage, amendments could be made to items that are not national priorities.

    “We, however, still welcome public evaluations of the items in the budget because ultimately, the budget must be toward what people deem as national priorities.

    “If there are any items in the budget that you think ought not to be there or be a priority at this time, they should be flagged and identified to us and we would engage.

    “The budget is still in progress and it is still possible to make amendments where there is superior logic.’’

    The 2018 budget which was put at N8.612 trillion and presented to the National Assembly by President Muhammadu Buhari on Nov. 7, 2017 was tagged “Budget of Consolidation.’’

     

  • Kano Governor Ganduje signs 2018 budget

    Kano Governor Ganduje signs 2018 budget

    Kano State Governor Abdullahi Ganduje has signed the 2018 budget of N247 billion into law.

    The governor, in November 2017, presented a proposed bill of N233 billion to the House of Assembly. The bill was reviewed upward after deliberations and public hearings.

    Ganduje explained that the budget would enable the government complete very important capital undertakings.

    “It will assist us to provide services to the metropolitan area of Kano and the rural areas,” he said.”

    The House also approved a budget of N177 billion for the 44 local government areas.

    “With this development, the local governments can begin expenditure with the legal framework of their respective budgets”, he added.

     

  • Police review 2018 budget after rejection by Reps

    Police review 2018 budget after rejection by Reps

    • House dismisses it as a non-starter

    The Police authorities are back to the drawing board to rework their 2018 budget proposals following the House of Representatives’ rejection of the original one submitted to it for approval.

    The House is of the view that except the budgetary allocation to the Police is significantly reviewed; the force will continue to find it difficult to secure the lives and property of Nigerians.

    The House Committee on Police Affairs rejected the 2018 budget proposals presented to it by the Police, describing it as thoroughly inadequate and grossly incapable of meeting the expectations of the citizens on security.

    The Committee, chaired by Hon. Haliru Dauda Jika, returned the submission to the Police top echelon the same way it was presented, and requested its immediate update, in consonance with the ever-changing security dynamics of the country.

    It cited the wave of kidnappings, Fulani herdsmen killings and other forms of crimes as well as significant political activities and programmes preceding the 2019 election year.

    Police Inspector-General, Ibrahim Idris, had, on Wednesday, gone to the House to defend the Police budget proposal of N332 Billion for the year.

    A scrutiny of the proposal indicated that only about 10% of the budget covers overhead and capital costs with the remaining 90% specifically for personnel costs for the Service.

    The police, at the end of last year, had personnel strength of 300, 892 spread across 12 Zones, 37 State commands and FCT, 128 Area Commands, 1388 Divisional Commands, 1579 Police Stations and 3756 Police Posts.

  • 2018 budget: Akeredolu gets thumbs-up

    2018 budget: Akeredolu gets thumbs-up

    Governor Oluwarotimi Akeredolu of Ondo State has been commended over the  2018 budget of the state which is being targeted at legacy projects.

    A political analyst, Dr. Kayode Fafisibe, said the 2018 budget presented by the governor is a masterstroke that will enshrine his name in the roll of leaders who came and impacted on the state.

    Fafisibe is particularly happy about the construction of a new access road to Idanre. According to him, the town, aside from being a popular tourism destination, is growing into becoming the headquarters of cocoa farming and production in the state.

    “The construction of a new road to Idanre is one of the best decisions any government can make. It is a confirmation of the promise by Governor Akeredolu to open up the state to agriculture by constructing access roads to all major towns and villages. This will no doubt boost the economy of the state by making agriculture attractive to young farmers,” Fafisibe explained.

    Also, the construction of a flyover at Ore, will go a long way in solving the traffic gridlock experienced by travelers plying the popular intersection between the West and East of the country. Being the first of its type in the state, it will surely be a reference point of the governor’s achievements for ages to come.

    “For most of us in this part, the construction of a flyover at Ore still sounds like a dream. It will solve whatever traffic problem that has persisted in the area for a long time. As a matter of time, I can tell you that it will form part of the legacies that will showcase Akeredolu’s success in Ondo State,” Ikuelogbon Bamitale, a transporter, said.

    For the people of the northern senatorial district, the dualization of Ikare Akoko town roads is a longtime dream come true. The town, generally regarded as the capital of Akokoland, remains one of the few major towns in the state without dualized roads.

  • 2018 budget implementation may be tough – SGF

    2018 budget implementation may be tough – SGF

    The Secretary to Government of the Federation (SGF), Boss Mustapha, on Thursday alerted Nigerians that Federal Government may not fully implement the 2018 budget if the National Assembly fails to pass the fiscal estimate on time.

    Mustapha also said the preparation for the 2019 general elections, expected to commence at the end of February, would also pose a challenge to the budget implementation.

    He noted that serious government business would likely end by November when political parties would commence campaigns and conduct primaries.

    The SGF appealed to the National Assembly to pass the budget as soon as possible to avoid possible poor implementation.

    Mustapha spoke when he appeared before the Senate Committee on Federal Character to defend the 2018 budget of his office.

    He said: “I will make an appeal that the 2018 budget must be passed on time. We do not have time. If you consider the time left for us as politicians and in line with the timetable released by INEC, you will realise that we have till November 2018 to do what we have to do.

    “By then, politicians will be engaged in political activities. There will be no time. I am appealing that we pass this budget on time. This is the last budget we will have to deliver on the dividends of democracy. For those of you coming back, promises will not work. What will work will be the scorecard.

    “I am begging that it should be passed as quickly as possible. I am also appealing to the executive arm to appear for budget defence. Intense political activities will begin this February and as public officials, we have to quickly deliver.”

  • Oyo targets N112b IGR to fund 2018 budget

    Oyo targets N112b IGR to fund 2018 budget

    •Revenue board to earn N4b monthly 

    The Oyo State government yesterday said it would generate N112 billion as Internally Generated Revenue (IGR) this year.

    The money, it said would finance 41.91 per cent of the N267 billion budget estimate.

    Revenue from other sources are unspent income, statutory allocation from the Federation Account, capital receipts and transfer from Local Government Joint Allocation and Appropriation Committee (JAAC).

    The Commissioner for Finance and Budget, Mr. Abimbola Adekanmbi, spoke yesterday in Ibadan, the capital, while giving a breakdown of the 2018 budget.

    The commissioner said restructuring of the Board of Internal Revenue would soon be completed to enable it meet the target.

    To join the revenue board in raising the fund are: revenue-generating Ministries, Departments and Agencies (MDAs).

    The Board of Internal Revenue (BIR) would generate N48 billion, the MDAs N64 billion.

    Governor Abiola Ajimobi, on December 14, presented N267.4 billion as the 2018 Appropriation Bill to the House of Assembly.

    It was christened Budget of Stabilisation.

    Some stakeholders at yesterday’s programme were members of the State Executive Council, Heads of MDAs, representatives of the Manufacturers Association of Nigeria (MAN), non-governmental organisations (NGO) and trade groups.

    Adekanmbi noted that despite the low performance of last year’s budget, the 2018 budget was drawn from what he called a “zero-based budgeting approach”.

    This, the commissioner said, made it mandatory that every budget item (revenue and expenditure) was included after a thorough justification.

    In a review of the 2017 budget, the commissioner said the budget did not perform as expected, mainly due to the global economic downturn, which negatively impacted on the national income.

    He added that the IGR also did not fare better in 2017, performing at 16.84 per cent.

    Adekanmbi said the restructuring and repositioning of the revenue board would enhance its ability to meet target.

    The board would soon be made autonomous.

    The state government said it expected increased revenue from the informal sector, deepening of enforcement action and back duty audit as well as continued and aggressive taxpayer engagement and enlightenment, among others.

    The 2017 budget was N208 billion, as passed by the Assembly.

  • 2018 budget: Expert advises Govt, NASS on early passage

    2018 budget: Expert advises Govt, NASS on early passage

    A financial expert, Prof. Sheiffdeen Tella, on Monday called on the Federal Government to work closely with the National Assembly to ensure speedy passage of 2018 budget.

    Tella, a Professor of Economics at the Olabisi Onabanjo University, Ago-Iwoye in Ogun, said in Lagos that this was to avoid returning the country to recession.

    President Muhammadu Buhari had on November 7, 2017 presented before a joint session of the National Assembly, a budget proposal of N8.612 trillion for the 2018 fiscal year.

    This represents 16 per cent increase of N7.298 trillion over the 2017 budget.

    NAN reports that budget had started generating controversy since it was presented by the President Buhari.

    Tella said Federal Government should work on the NASS to pass the budget on time and set to start its implementation immediately.

    The expert said budget implementation could only be achieved with early passage of the budget.

    He said all attempts should be made to grow the economy faster to avoid returning the country to recession.

    “Federal Government should start implementation of the capital aspect of the budget, particularly power, road and rail infrastructure and mining as well as financial sector development to engineer cheap or affordable credits for industrial sector.

    “Increase in money supply is likely to increase due to increased political activities, but that will be from the second quarter.

    “It can cause inflation, if improved production does not begin from the end of first quarter.

    “So, budget implementation must start early if the budget is passed early in the year.

    “All efforts must be made to grow the economy faster to avoid returning to recession,” Tella said.

    He said the progress made on the economy in 2017 would leap-frog in 2018 on improved policy implementation.

    The economist said the pace of diversification of economy, through agriculture and industrialisation, should be pursued steadily and consistently with appropriate corporation between monetary and fiscal policy makers.

    Tella said the country should be interested in domestic production of refined fuel than importation, adding that action on modular refinery should be intensified.

    He said power supply should progress more in such that alternative energy sources like solar and wind should be improved upon and diverted to non-commercial areas.

    Tella said energy from gas and thermal sources should be diverted for industrial use.

    He said improvement in power supply would bring down the cost of production greatly for effective competition of domestic goods and imported.

    According to him, the use of local raw materials in production will also reduce importation and cost of production arising from exchange rate problems.

     

     

    On the capital market, he said that the market performance in 2017 was quite impressive and would likely continue in 2018 with the right policy.

    “If interest rate falls and businesses go to the market to raise funds, the market performance will improve faster, otherwise if economy remains sluggish, the capital market can suffer from patronage,” Tella said.

  • Amosun signs N343.9bn 2018 Budget

    Amosun signs N343.9bn 2018 Budget

    Ogun State Governor, Ibikunle Amosun, on Friday signed into law the N343.9 billion 2018 Budget after it was presented to him by the Speaker of the state House of Assembly, Suraj Ishola Adekunbi.

    Amosun signed the bill into law at the Governor’s Office, Oke Mosan, Abeokuta.

    Speaker Adekunbi, the state Deputy Governor, Chief Yetunde Onanuga, the lawmakers and some members of the State Executive Council were at the signing ceremony.

    The budget which initially stood at N345.4 billion when presented to the House by the governor was reduced by N1.4 billion after scrutiny by the 26- member legislators.

    Governor Amosun lauded the leadership of the House for working round the clock to ensure speedy passage of the budget.

    “Without the budget in place, it may be difficult for us to re-strategise on our rebuilding mission,” Amosun said.

    He added that the House had done its part in supporting the administration and hailed the judiciary for its complementary roles.

    According to the governor, the budget will accelerate the ongoing developmental projects, help consolidate on the achievements of the previous year and expressed the optimism that more dividends of democracy await the people of the state in 2018.

    He reiterated his administration’s commitment to improving the living condition of people in the state.

  • Fayose signs Ekiti 2018 budget

    Fayose signs Ekiti 2018 budget

    Ekiti State Governor, Ayo Fayose, on Friday signed the N98.6billion 2018 budget into law.

    The 2018 budget was passed by the state House of Assembly on December 19.

    Signing the Appropriation Bill at the Government House, Ado Ekiti, Fayose hailed the legislators for prompt passage of the budget.

    Fayose said: “This is the last budget I will sign as governor of Ekiti having done the little God has helped me to do. I commend the Assembly for standing by me. It is my prayer that this Assembly will continue to grow from strength to strength.

    “You have demonstrated responsible leadership. I’m not in doubt record will show you as one of the best Assemblies we ever had in the history of Ekiti.”