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Tag: Udoma

  • No security vote for State House in 2018, says Udoma

    •N13.28bn EEG tax credit to support export

    Contrary to a claim by Amnesty International (AI) that the Presidency has widened its security votes’ net, there is no line item classified as Security Vote in the State House budget in the N9.1 trillion 2018 Appropriation Act. The international watchdog got its facts wrong, Budget & National Planning Minister Udoma Udo Udoma, said during the budget breakdown in Abuja yesterday, reports Nduka Chiejina.

    There is no provision for Presidential Villa securityin this year’s budget, the Budget and National Planning Minister Udoma Udo Udoma  said yesterday.

    Addressing reporters during the breakdown of the 2018 Budget after President Muhammadu Buhari signed the Appropriation Bill into law on Wednesday, Senator Udoma denied claims that the Presidency was siphoning money out of the system using security votes.

    “Owing to the growing number of internal security issues, a provision of N75 billion was made for these exercises in the Service-wide votes, not State House vote, in 2018,” Udoma said.

    The minister denied an Amnesty International (AI) report titled “Camouflaged cash: How ‘Security Votes’ fuel corruption in Nigeria”, which ”indicated, in part, that the Presidency is not only appropriating but “has increased the number of security votes tucked into the Federal Budget in the last two years.”

    In a response to reporters’ questions during the briefing in Abuja, the minister said: “There is no line item as Security vote in the State House Budget.”

    According to him, “provisions for security-related matters are contained in the detailed Budgets of the Ministry of Defence, Office of the National Security Adviser (ONSA), Department of State Security (DSS) etc.”

    “There are also provisions for military interventions in the Northeast (insurgency) – Operation Lafiya Dole, as well as other specific operations of the Armed forces such as Operation Python Dance, Operation Crocodile Smile and very recently and Operation Cat Race, among others”, Udoma said.

    AI defines security votes as “budgeted funds provided to certain federal, state and local government officials to spend at their discretion.. They are budgeted separately from planned security expenditures, such as personnel salaries, allowances, equipment, training and operational expenses.”

    Commenting on other aspects of the budget, Udoma stated that the government was “in a hurry to implement the N9.1 trillion 2018 Budget”.

    He also maintained that the “President Muhammadu Buhari administration would work hard to realise the N7.165 trillion revenue projection”.

    The minister revealed that the N1.5 trillion deficit contained in the budget “would be financed through borrowing from both domestic and international capital markets”.

    “The Federal Government”, he said, “has set up a commitee on the divestment of its  assets in the oil industry as a measure of increasing the administration’s revenue profile.

    “The revenue boosting measures to be employed by the governemnt in the 2018 fiscal year from the oil sector  include: New funding mechanism for JV operations, allowing for Cost Recovery in lieu of previous cash call arrangement; additional oil-related revenue, including royalty recovery, new/marginal field licences, early licensing renewals; and review of the fiscal regime for Oil Production Sharing Contracts (PSCs).

    “Besides, government plans to restructure its equity in JV oil assets, with proceeds to be reinvested in other assets, to improve efficiencies in the operations of the JVs and position them for better revenue performance in the future.

    “Other revenue sources being pursued by the government are planned increases  in excise duty rates on alcohol and tobacco; tax administration improvement initiatives to positively affect collection efficiencies across various tax categories, e.g., Tax amnesty programme.”

    The government, Udoma said, has taken on-board some key reform initiatives contained in the Economic Recovery & Growth Plan (ERGP) in the budget, such as the deployment of new technology to improve revenue collection; upward review of tariffs and tax rates where appropriate; stronger enforcement; action against tax defaulters; improving government-owned Enterprises (GOEs’) revenue performance by reviewing their operational efficiency and cost-to-income ratios and generally ensuring they operate in more fiscally responsible manner.

    The distribution of expected Federal Government revenue for 2018  are as follows: Oil Revenue  (41.7 per cent)  CIT (9.2 per cent); VAT (2.9 per cent); Customs (4.5 per cent); Independent Revenue (11.8 per cent); Recoveries (7.2 per cent); Tax Amnesty (1.2 per cent); Signature Bonus (1.6 per cent); JV Equity Restructuring (9.9 per cent);  Grants and Donor Funding ( 2.8 per cent); and Others ( 7.2 per cent).

    Some projects to be executed  in the Appropriation Act include:

     

    Transport

    • N162.28 billion Counterpart funding for Railway projects including: • Lagos-Kano (ongoing) • Calabar-Lagos (ongoing) • Ajaokuta-Itakpe-Aladja (Warri ) (ongoing) • Port Harcourt – Maiduguri (new) • Kano-Katsina-Jibiya-Maradi in Niger Republic (new) • Abuja-Itakpe and Aladja (Warri)-Warri Port and Refinery including Warri New Harbour (new) • N530.8 million construction of terminal building at Enugu Airport • N8.32 billion Construction of second runway of Nnamdi Azikwe International Airport, Abuja

     

    Power

    • N9.4 billion set aside as counterpart fund for the Mambilla hydro power project • N9.7 billion counterpart funding for earmarked transmission lines and substations. • N2.2 billion construction of 215MW LPFO/ gas power station Kaduna. • N3.4 billion Kashimbilla Transmission. • N14.2 billion Fast Power Programme Accelerated Gas and Solar Power Generation.

     

    Housing

    • N26.7 billion Federal Government National Housing Programme

     

    Works

    • About N344 billion for the construction and rehabilitation of several roads nationwide, including: • Lagos-Sagamu-Ibadan Dual Carriageway • Ilorin-Jebba-Mokwa-Bokani Road • Abuja-Abaji Road, • Kano-Maiduguri Road • Enugu-Port-Harcourt Dual Carriageway • Odupkani-Itu-Ikot Ekpene Road • Sokoto-Tambuwal-Jega-Kontagora-Makera Road, • Dualisation of Obajana Junction to Benin, • Calabar-Ugep-Kastina Ala Road, • Onitsha-Enugu Dual Carriageway, • Abuja-Kaduna-Zaria-Kano Dual Carriageway, • Benin-Ofosu-Ore-Ajebandele-Sagamu Expressway Phase lll • Kotangora – Bangi Road.
    • About N344 billion for the construction and rehabilitation of several roads nationwide: • Bodo-Bonny Road with a bridge across the Opobo channel. In Rivers State. • Apapa – Oshodi express way in Lagos (Phase II Sections I & II) • Nnenwe-Oduma-Mpu (Enugu State) -Uburu (Ebonyi State) • Ningi -Yadagungume- Fuskar Mata Road Phase II In Bauchi State, • Oju/Loko – Oweto Bridge to link Loko And Oweto with approach Roads • Otuocha – Anam- Nzam- Innoma – Iheaka- Ibaji Section of Otuocha – Ibaji – Odulu -Ajegwu In Anambra / Kogi States, • Oba – Nnewi Road Section II in Anambra State • Ogrute (Enugu State) – Akpanya – Odolu (Kogi State) Road Section II with extension to Obollo Afor. • Tamawa – Gulu Road at Rimin Gado LGA in Kano State • Jalingo – Kona – Lau – Karim Road Phase I in Taraba State, etc.

     

    Health

    • N55.15 billion Provisioned for the implementation of the National Health Act • N2.4 billion to match grant from UNFPA, USAID, UNICEF; • N1.3 billion for Strategic Joint Venture Investments in selected Tertiary Health Institutions with Nigerian Sovereign Investment Authority (NSIA) • N8.9 billion for procurement of RI vaccines and devices, • N3 billion for Counterpart funding including global fund, health, and GAVI • N300 million for Health Emergencies & Contagious Diseases Outbreaks (E.g Meningitis, measles, yellow fever, monkey pox, etc) • N200 million for Midwives Service Scheme, • N1.2 billion Polio Eradication Initiative, • N1. billion Training/central procurement of 300,000 dialysis consumables.

     

    Water Resources

    • N1.8 billion Zobe Water Supply Project – Phase I & II • N1 billion for Partnership for Expanded Water, Sanitation and Hygiene (PEWASH) • N1 billion for Special Intervention for North East and IDPs – Potable of Portable Water • Over N53 billion for water supply, rehabilitation of dams, and irrigation projects nationwide.

     

    Agriculture & Rural Development

    • N4.2 billion for Rural Roads and Water Sanitation programme; • Over N25.1 billion for Promotion and Development of Value Chain across in more than 30 different commodities, • N5.30 billion for National Grazing Reserve Development • N3.53 billion for Agribusiness and Market Development • N4.08 billion for Food and Strategic Reserves, • N2 billion for Supply, Installation & Commissioning of Water Rigs Nationwide, • N1.13 billion for FGN Support for Youths in Agribusiness, • N2 billion for Livelihood Improvement Family Enterprise (LIFE) Programme

     

    Mines & Steel Development

    • N644 million for the establishment of minning regulatory agency for the sector, • N450 million for the reclamation of abandoned mines sites.

     

    Industry, Trade & Investment

    Special Economic Zone Projects. N44.2 billion for ongoing and planned Special Economic Zone Projects across the geopolitical zones to drive manufacturing / exports. Completion of feasibility Studies, Master Planning, Engineering Design, EIA and other pre-development Costs in Enugu, Gombe, Nnewi, Kwara, Abuja, Bauchi, Rivers/Bayelsa, Edo/Delta, Taraba/Adamawa, Benue/Plateau, Sokoto/Kebbi. Completion of Lekki Model Textile and Garment Industrial Park. FGN investment in Enyimba Industrial Park, and Ibom Deep Sea Port and City.

     

    Export-Expansion Grant (EEG)

    N13.28 billion in the form of tax credit to support export via the Export Expansion Grant; Recapitalisation of Bank of Industry (BOI) and Bank of Agriculture (BoA); N15 billion provisioned to support these development finance institutions to support Micro, Small and Medium Scale Enterprises (MSMEs).

     

    Education

    N3.4 billion provisioned as Take-off Grant for Maritime University; N1.8 billion for Payment of 5000 Federal Teachers Scheme Allowance; N417 million for Construction of National Library of Nigeria; N9.2 billion for various Scholarship allowances.

     

    Niger Delta

    N20.29 billion for various sections of the East-West Road; N2.38 billion for Section III from Port-Harcourt Eleme Junction to Onne Port Junction.

     

    Regional Interventions:

    N65 billion for reintegration of transformed ex-militants under the Presidential Amnesty Programme. N45 billion for Federal Initiative for North-East (Pilot Counterpart funding contribution).

     

    SDGs

    N11.3 billion for SDGs Intervention Programmes, N36.4 billion for other SDGs Projects

     

    Special Intervention Programme

    N500 billion for FGN Special Intervention Programme (including Home Grown; School Feeding Programme, Government Economic Empowerment Programme, and N-Power Job Creation Programme, Conditional Cash Transfers etc).

  • Buhari yet to receive 2018 Budget – Udoma

    The Minister of Budget and National Planning, Udoma Udo Udoma, said on Wednesday that President Muhammadu Buhari is yet to receive the 2018 Budget recently passed by the National Assembly.

    The two chambers of the National Assembly passed the budget last week.

    Briefing State House correspondents at the end of the Federal Executive Council (FEC) meeting chaired by President Buhari, Udoma said the Executive arm of government is ready to work very fast on the budget as soon as it is received from the lawmakers.

    The Minister of Information, Lai Mohammed, said if not for the immunity the Rivers State Governor, Nyesom Wike, enjoys, he would have been invited over his allegation that the Federal government was planning to assassinate him.

    Mohammed said: “On the allegation raised by the governor of Rivers that he has information that he would be assassinated by the federal government.

    “I think one of the good things on being a governor is that you enjoy immunity from prosecution and arrest. Because I remember that few years ago when I made similar allegations I was invited to the Force Headquarters.”

     

     

  • Feedback on ERGP positive, says Udoma

    The Economic Recovery and Growth Plan (ERGP) has attracted positive responses from the public, indicating that there are many opportunities for investment in Nigeria beyond the oil sector, Minister of Budget and National Planning, Udoma Udo Udoma, has said.

    He spoke on the sidelines of the just concluded 2018 Spring Meetings of the International Monetary Fund (IMF)/World Bank in Washington D.C., United States.

    He words: “At the moment, the focused labs are being conducted in agriculture, transportation, power and gas, manufacturing and processing. The response has been very good. We are looking forward to organising an open day in which we will share the results with the Nigerian public, that should be in the next one or two weeks. So, that is going well and I am very encouraged by it,” he told newsmen at the meetings.

    The focus of the ERGP, he said, is to generate more revenue and revive key segments of the economy. “As you are aware, we have the tax amnesty to try and increase the tax revenues being generated. We are looking at some of our excise duties and so the focus is to generate more revenues. Our problem is not a debt problem, our problem is a revenue problem and so we are focused on generating much more revenues,” he said.

    On what he was taking away from the meetings, Udoma said: “What I am taking away is that one, there is a lot of interests in Nigeria, two there is a lot of support for Nigeria, three, the global investors acknowledged the positive developments that are going on and they acknowledged that we are on the right track. We just need to accelerate a bit on some of our measures. We have a lot of measures in the ERGP and we need to accelerate on them. They are happy about our foreign exchange reserves, which are growing, about the market system that we are using for foreign exchange management. So, there is a lot of positive signals coming out of here for us to take away and we are encouraged,” he said.

    On economic growth, he said the country targets seven per cent growth by 2020, a figure, he said, would make him comfortable. “Our target is seven per cent by 2020, that will make me comfortable, above seven per cent will make me even much more comfortable. And that is why we are working so hard. Even though we are working so hard, the rate of growth is still too slow. So, we will like it to pick up and that is why there is a need to work hard. They say the result for good result is more hard work and so we are poised to continue  to focus on the various measures on the ERGP. We believe that we are already seeing some positive results and we believe that we will get it,” he said.

    Continuing, he said: “I think the key is revenue, we just have to make sure that we have a broad based growth, that we are growing in agriculture and other areas within our control. I think that is what we are trying to do, that is the best measures we can take. In terms of inclusiveness of growth, as you know, this is a government that is committed to making sure that we carry everybody along. And that is why we have the social investment programme in which we have committed N500 billion every year in the budget, the school feeding programme, the government enterprise and empowerment programme (GEEP). So, we have a number of programmes to make sure nobody is left behind.”

    Udoma said judging from the series of meetings he has been having with private investors, it was evident that investors are interested in Nigeria. “Many of the investors I have met have shown interest in the investment opportunities we are creating through the initiatives and reforms in the ERGP and are desirous of coming to explore them. They have seen that this is the right time to come to Nigeria. They have seen how committed government is towards improving the business environment, in removing constraints to investments, in diversifying the economy, and in partnering the private sector on infrastructure development.

    “I am very encouraged by the fact that these positives development in Nigeria are being recognised. The positive developments about economic recovery and growth plan, the things that we are doing to encourage investment, make Nigeria more investment friendly, I’m happy that all those are being recognised. And the fact that the economy is out of recession and is growing again is also being recognised and the fact that growth is not dependent solely on oil. That there is growth in agriculture and other areas, so it has been a positive meeting for me,” he added.

  • Reps invite Adeosun, Udoma over NHIS N10bn

    Reps invite Adeosun, Udoma over NHIS N10bn

    The House of Representatives Committee on Health Services has incited the Minister of Finance, Kemi Adeosun and her counterpart in the Ministry of Budget and National planning, Udoma Udo Udoma, over the contentious National Health Insurance Scheme (NHIS) N10 billion allegedly moved by its Executive Secretary, Prof. Usman Yusuf.

    Also invited are the Minister of Health, Prof. Isaac Adewole, the Accountant – General of the Federation and the Director- General of Budget Office.

    They are expected to give insight into the movement of the funds.

    The recently reinstated NHIS chief, who met the Chike Okafor –led committee, said that contrary to reports that he moved the NHIS funds, the money is in the Consolidated Revenue Fund Account.

    He said: “December 1, 2016 the NHIS got a letter from the Federal Ministry of Finance that the NHIS is a revenue generating agency and that the NHIS needs to pay N8.8 billion operating surplus. NHIS was not the only agency, there were many agencies that were sent this letter.

    “When I saw the letter, I went to the minister and showed him the letter. I said we are not a revenue generating agency. I went to the Accountant General too and told him the same.”

    Yusuf said he gave the letter to the organisation’s lawyers to research into NHIS Act and investments to see if the organisation was at any time owning the federal government money, but it came out negative.

    “Because the premise was that we violated the Fiscal Responsibility Act as we were not remitting to the federal government our operating surplus,” he added.

     

     

  • Adeosun, Ngige, Udoma to face Reps’ panel over N17b NSITF debt

    Adeosun, Ngige, Udoma to face Reps’ panel over N17b NSITF debt

    Minister of Finance Kemi Adeosun will appear before a House of  Representatives’ ad hoc panel investigating Ministries, Departments and Agencies (MDAs) of governments and private sector over non-remittance of their contributions to the Employees’ Compensation Scheme (ECS).

    As stipulated by the Employees’ Compensation Act, 2010, all MDAs at Federal, State and Local government (LG) levels are expected to register and contribute one per cent of their gross income to the scheme.

    The scheme, domiciled in the Nigerian Social Insurance Trust Fund (NSITF), is to encourage safety in workplace and provides compensation for death, occupational diseases and injuries, reduce personal, physical and emotional suffering of employees and their relatives as well as minimises bureaucracy and bottlenecks in determining liabilities.

    Minister of Labour and Productivity Chris Ngige, his Budget and National Planning counterpart, Udo Udoma as well as the Director General, Budget Office of the Federation, Ben Akabueze and the Accountant General of the Federation (AGF),  Ahmed Idris, were also expected to appear before the Deputy Minority Leader Chukwuka Onyema – led ad hoc panel today.

    They were to explain why the Federal Government is owing NSITF N17 billion since 2015 with the Nigerian Police Force (NPF) owing N16.2 billion since 2010 and several other MDAs.

    They were also expected to give detailed account of registered MDAs, total amount budgeted on yearly basis as well as shed light on exemptions from the scheme.

    In his presentation, NSITF’s Director General (DG), Adebayo Somefun, who has no idea of the total workforce of his agency, said only Bauchi, Taraba and Gombe states have registered but without commitments.

    The rest, including the Federal Capital Territory (FCT) and the 774 councils, have not.

    In contravention of the law, the DG said most MDAs have refused to register for the scheme, in spite of the fact that no agency was exempted except uniformed military personnel.

    He said civilians working in the military establishments were also expected to participate.

    He said contribution to the scheme was supposed to be deducted from source by the Ministry of Finance and the AGF.

    Somefun could not however provide the committee with the actual figure owed by individual MDAs, complaining that non-registration by recalcitrant organisations made reconciliation difficult for NSITF.

    Inspector-General Ibrahim Idris said the police was elated when the scheme was introduced but could not understand why the Police was excluded.

    Idris, who was represented by Assistant Commissioner of Police (ACP), (Insurance), Ishaku Mohammed, said the AGF was formally contacted in 2014 since the contribution was expected to be deducted from source which has not been the case with the Police.

    He said the Budget Office responded in another correspondence that the NPF is excluded from the scheme and should not pay but can approach the NSITF for enrolment.

    “We did but NSITF did not ask us for payment, rather  a consultant was appointed to work with us and by 2016, a figure of N13 billion was given to us and we were asked to approach the Federal Government  for the payment or reimbursement but nothing has happened till now,” he added.

    Though the Nigerian Civil Aviation Authority (NCAA) claimed that its establishment Act prevented it from contributing to the scheme, it nonetheless promised to work with NSITF on how to reconcile the records.

    NSITF was discovered to have defaulted on payment and mandated to pay its own contributions of N394 million to the scheme.

    The committee expressed its dissatisfaction with NSITF for not carrying out enough public awareness on the scheme, citing non-activity from state and local governments.

    Committee Chairman Onyema said: “Government at all levels should be aware that failure to register and pay the statutory contributions to the NSITF is a gross violation of the law.

    “Violating the law exposed the vast majority of Nigeria workforce to uninsured and uncovered risk and occupational hazard, which could not be compensated for.”

    ment will lead by example.”

     

  • Osinbajo, Udoma, others for Yabatech 70th anniversary

    Vice President Yemi Osinbajo, Minister of Budget and National Planning, Senator Udoma Udoma and former Deputy Governor Central Bank of Nigeria (CBN) Dr Tunde Lemo are some of the prominent Nigerians expected at a national workshop to mark the 70th anniversary of Yaba College of Technology, Lagos.

    The workshop with the theme business financing in a growing economy holds on Tuesday, November 17 at National Theatre Iganmu.

    Udoma will deliver the keynote address while Osinbajo will attend as the special guest of honour.

    President Yabatech Alumni Association, Dr Oluwafemi Martins, told reporters Lemo will serve as chairman of the three slated sub-themes.

    Some of the discussants, according to him, include Dr Bongo Adi, Faculty member, Lagos Business School; Kayode Pitan, MD Bank of Industry; Hon Kehinde Odeneye and Osiniyi Osibemekun, MD/CEO Jackal Ventures.

    He said papers from the discussions would form part of a think-tank to advance the economic direction of the nation.

     

  • Reps quiz Adeosun, Udoma over N302.4b pension arrears

    Reps quiz Adeosun, Udoma over N302.4b pension arrears

    The House of Representatives yesterday grilled the Minister of Finance, Mrs Kemi Adeosun and her Budget and National Planning counterpart, Udoma Udo Udoma, over the N302.4 billion pension arrears.

    The lawmakers demanded to know what the executive was doing to offset the outstanding pension liabilities both under the Defined Benefit Scheme (DBS) and the Contributory Pensions Scheme (CPS).

    While summoning the ministers last week, House Speaker, Yakubu Dogara  said the ministers and heads of relevant agencies must appear before the Green Chamber to find a realistic solution to the intractable problem of outstanding pension payments.

    But both Adeosun and Udoma while making presentation pleaded for more time to pay the outstanding saying the Federal Government only on Wednesday paid N54 billion out of the outstanding pension arrears.

    The challenge, according to the ministers was due to the inability to reconcile the figures between the relevant pension administration agencies.

    According to Mrs Adeosun, the situation had been on before the current administration and the high pension debt had been “consistent under appropriation for years that lead to the current problem”.

    She told the lawmakers that just a day before her appearance, the Federal Government had released  funds for the payment of pension arrears.

    On his part,  Udoma  said the president has set up a committee headed by the Ministry of Finance to resolve the intractable pension problem which he said was inherited.

    He said the Federal Government was up to date in terms of pensions payments, adding that an efficient and prompt payment of pension and gratuity would soon come into force as soon as the inter-ministerial committee comes up with harmonised data base.

    “Pension is something that the president is really concerned about. He thanks the House for highlighting the issue. He has directed that this is an issue that must be resolved.

    “The numbers will be reconciled and if there is any impact on the 2017 budget, we will approach the National Assembly,” he said.

    The minister also hinged some of the challenges on limited resources, saying government views salaries and pensions  payment with great importance which is the reason for the items being number one priority. “Half of the total of projected revenue in the 2017 budget is to be used to pay wages and pension,” he said.

    But members were not happy with the explanations of the minister. Members such as Betty Apiafi, Zakari Mohammed , Barde Yakubu, Obinna Chidoka, Aliyu Madaki and a host of others, expressed displeasure over this.

    Minority Leader, Leo Ogor said government was a continuum and no excuse would suffice. He said since the ministers have said the president has set up a committee to liaise with relevant pension agencies, “ we should be looking at the time frame with which they will submit their report.”

  • Reps quiz Adeosun, Udoma over N302bn pension arrears

    Reps quiz Adeosun, Udoma over N302bn pension arrears

    The House of Representatives on Thursday quizzed the Minister of Finance, Kemi Adeosun and her Budget and National Planning counterpart, Udoma Udo Udoma over N302.4 billion pension arrears.

    The lawmakers demanded to know what the Executive was doing to offset the outstanding pension liabilities under the Defined Benefit Scheme (DBS) and the Contributory Pensions Scheme (CPS).

    The Speaker of the House, Yakubu Dogara, while summoning the ministers last week said the ministers and heads of relevant agencies must appear before the Green Chamber to find a realistic solution to the intractable problem of outstanding pension payments.

    But both Adeosun and Udoma while making presentation pleaded for more time to pay the outstanding pension arrears, saying the Federal Government paid N54 billion out of the outstanding pension arrears on Wednesday.

    The challenge, according to the ministers was due to the inability of the government to reconcile the figures between the relevant pension administration agencies.

  • Udoma: Nigeria requires $3tr to fund infrastructure projects

    About $3.05 trillion will be required over the next 30 years to implement the National Integrated Infrastructure Master Plan (NIIMP), the Minister of Budget and National Planning, Senator Udoma Udo Udoma said in Abuja at the weekend.

    Under the plan, which will be executed in collaboration with federal and state governments and the private sector, the public sector will handle 52 per cent of the project, the private sector will underwrite the balance in the first five years.

    The minister, who  spoke while receiving the report of a Pre-Summit Workshop from the Infrastructure Private-Public Partnership Summit Group (PPPSG), described the NIIMP as a blueprint for accelerated infrastructure development in the next 30 years (2014 -2043), adding that it seeks to raise the stock of infrastructure from 20 to 25 per cent of the gross domestic product (GDP) to at least 70 per cent by 2043.

    The PPP SG is charged with charting a course for the PPP funding in some critical sectors as well as establish a private sector-led Community of Practice to work with the government on the implementation of infrastructure roadmaps.

    Investments in the NIIMP are geared towards meeting infrastructure requirements of the major sectors of the economy including  energy, transport, ICT, agriculture, water and mining, housing, social infrastructure, security and vital registration.

    The Minister explained that apart from being a robust framework for infrastructure development, the NIIMP will also serve as investors’ guide, enhance economic growth and create job opportunities among other benefits.

    The plan outlines a financing plan for the public sector component of the investment requirement with four major options – public budgets, loans, pension funds and sovereign wealth fund as well as public- private partnership (PPP)

    He reiterated the importance of infrastructure in turning the economy of the country around and pointed out that in his resolve to revamp the economy, President Muhammadu Buhari is determined to attract as much private sector investment as possible to enable a quick turnaround.

    Chairman of the PPP Summit Group, A. B. Mahmoud, since it would be impossible for the government to bridge the infrastructure gap within a short time, it becomes necessary for collaboration with the private sector to achieve the objective.

    He however said the private sector will only get involved in the execution of projects if the plans are well-laid out and attractive; which is why the group is out to chart a course for the PPP funding to ensure the successful implementation of infrastructure roadmaps.

  • Tambuwal, Dogara, Udoma to speak at Budget Colloquium

    Tambuwal, Dogara, Udoma to speak at Budget Colloquium

    Sokoto State Governor Aminu Tambuwal, House of Representatives Speaker Yakubu Dogara and Minister of Budget and National Planning Udoma Udo Udoma are among top officials to dissect “the budgetary process as a key interface between the executive and legislative arms of government in Nigeria”.

    They will speak at a colloquium organised by OrderPaper.ng, Nigeria’s premier independent parliamentary reporting portal, to address contentious issues on the budget.

    Top government officials from both arms will share ideas, perspectives and experiences on the appropriation process as provided for in the 1999 Constitution (as amended).

    The event will hold on September 26 in Abuja.

    A statement by the Publisher/Editor-in-Chief of OrderPaper.ng, Mr. Oke Epia, reads: “The focus on the budget at the Colloquium in September is a deliberate attempt to address fundamental issues arising on the budget, especially in recent times.

    “There is need to deepen the debate about which arm of government plays what roles in the appropriation process and exactly to what extent. Where does the National Assembly’s power of appropriation begins and ends? Is the executive vested with unquestionable powers regarding the estimates it sends to the legislature as annual budgets? Or on the reverse, is the legislature conferred with such far-reaching powers as to be able to substantially alter the estimates so received from Mr. President or a state governor? What about the disturbing lexicon of ‘padding’ that has dogged the 2016 budget as a leech? These are questions to be addressed by a holistic gathering of executive; legislature; ex