Thursday, December 2

Tag: Appropriation

House of Rep members pass 2022 budget for second reading
Politics

House of Rep members pass 2022 budget for second reading

The 2022 budget of N16.39 trillion was on Thursday October 14, passed for second reading in the House of Representatives. It was passed for second reading following the conclusion of debate on the general principles of the budget. This is coming barely 24 hours after the Senate also passed the 2022 Appropriation Bill for second reading after over one hour of debate on its general principles. President Muhammadu Buhari last week, presented an appropriation bill of N16.39 trillion for the total expenditure of the federal government in 2022 to the national assembly.
Communications ministry generated over N1trn revenue in two years – Isa Pantami
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Communications ministry generated over N1trn revenue in two years – Isa Pantami

Minister of communications and digital economy, Isa Pantami has said that the ministry he heads generated N1.054 trillion as revenue in two years. Pantami disclosed this during the virtual inauguration of the 12th batch of the digital economy projects at the Digital Economy Complex, Mbora, Abuja. He noted that the communications and digital economy sector which played a huge role in lifting the country out of recession, recorded the highest growth rate in the fourth quarter of 2020. The Minister said; “The initiatives of the ministry are geared towards supporting the federal government in its 3 main focus areas- economy, security and anti-corruption. “Our activities in the communications and digital economy sector have greatly enhanced the economy of Nigeria. For example, ...
President Buhari’s assent to the PIB is a callous act – PANDEF slams Buhari
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President Buhari’s assent to the PIB is a callous act – PANDEF slams Buhari

The Pan Niger Delta Forum (PANDEF) has reacted to President Muhammadu Buhari signing the Petroleum Industry Bill (PIB) into law. In a statement released by the group's national publicity secretary Ken Robinson on Monday August 16, PANDEF described the signing as a "callous act" and further alleged that it simply "speaks to the repugnant attitude of disregard, propelled by arrogance, disdain and contempt with which issues concerning the Niger Delta Region are treated, particularly, by the present Administration." The group stated that President Muhammadu Buhari went ahead to assent to the Petroleum Industry Bill, despite the overwhelming outcry and condemnation that greeted its passage by the National Assembly, especially with regards to the "paltry" 3% provision for the Host Comm...
Port Harcourt Refinery Will Work in 18 Months – Minister of state for Petroleum, Timipre Sylva
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Port Harcourt Refinery Will Work in 18 Months – Minister of state for Petroleum, Timipre Sylva

Minister of State for Petroleum, Timipre Sylva has given an assurance of the Port Harcourt Refinery being functional in 18 months. Sylva said this in an interview on Channels Television, in reaction to controversy that trailed the approval of $1.5 billion for the rehabilitation of the Port Harcourt Refinery (an amount which many had described as too much for the project). The Minister who insisted that the rehabilitation exercise is not a waste of funds, added that there are plans to also fix the Warri Refinery and Kaduna Refinery. He said; “Port Harcourt Refinery will work, and certainly within the next 18 months. “There are plans to also fix the Warri Refinery and Kaduna Refinery and then we would get all those staff to work." Sylva  debunked insinuations that the rehab...
APC has Done Tremendously Well for the SouthEast – Former Senate President, Ken Nnamani Says
Politics

APC has Done Tremendously Well for the SouthEast – Former Senate President, Ken Nnamani Says

Former Senate President, Ken Nnamani has said the All Progressives Congress (APC)-led Federal Government has done tremendously well for the South-East region. Nnamani who is a chieftain in the APC, stated this in an interview with Channels TV this evening February 5. “Infrastructurally, although it has not been publicized, the All Progressives Congress (APC) has done tremendously well in the Southeast. I drove from Owerri to Enugu just two days ago; I came back to Abuja just yesterday. The Enugu-Port Harcourt road that has remained a death trap, if you have seen it yourself and seen the quality of construction going on, they use granite stones where they feel the soil is bad. Take the second Niger Bridge which is done by President Buhari’s administration, it has been on the d...
House of Representatives Pass Revised 2020 Budget of N10.8trn
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House of Representatives Pass Revised 2020 Budget of N10.8trn

The House of Representatives has passed the revised 2020 Federal budget of N10.8 trillion from the initial N10.5 trillion submitted by the president. The Executive had written to the lawmakers for a downward review of the budget from N10.6 trillion to N10.5 trillion based on the global economic realities as a result of the Coronavirus pandemic. The lawmakers however increased the budget to N10.8 billion, higher than the initial approved budget. Based on the revised appropriation as passed by the house, statutory transfers also known as the first line charge (a category into which the National Assembly budget falls), was increased from N398 billion (398,505,979,362) to N422 billion (N422,775,979,362). Others are N2.6 trillion for debt service and N2.9 trillion for sinking funds...
Ganduje’s Security Stopped Abdulmumin Jibrin from Walking up to him to Congratulate him
Politics

Ganduje’s Security Stopped Abdulmumin Jibrin from Walking up to him to Congratulate him

A video of moment Governor Abdullahi Ganduje's security stopped former lawmaker Abdulmumin Jibrin from walking up to congratulate him after his (Ganduje) Supreme Court victory in the 2019 governorship election has surfaced online hours after the Independent and National Electoral Commission (INEC) announced People’s Democratic Party (PDP) candidate, Ali Datti Yako as winner of the House of Representatives rerun election in Kiru/Bebeji Federal Constituency of Kano state. In the viral video, Jibrin was seen making a call after being stopped from going upstairs to congratulate Ganduje by his security.   While some Twitter users alleged that Jibrin lost his seat for switching sides; from Ganduje's camp to Kwankwaso's camp in the 2019 governorship election, others alleged ...
President Buhari Signs 2019 Budget Into Law
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President Buhari Signs 2019 Budget Into Law

President Muhammadu Buhari on Monday in Abuja signed the 2019 Appropriation bill of N8.92 trillion into law. The president had submitted the 2019 budget of N8.83trillion to the Senate but was increased by about N10billion by the Upper House, bringing the amount to N8.92trillion. The News Agency of Nigeria (NAN) reports that the dignitaries who witnessed the signing of the budget, which took place at the mini-conference hall of the president, included the Senate President Bukola Saraki and the Speaker of the House of Representatives,Yakubu Dogara. The Secretary to the Government of the Federation, Boss Mustapha and the Chief of Staff to the President, Malam Abba Kyari also witnessed the signing of the budget. Others at the event were the Ministers of Finance (Zainab Ahmed), Budg...
Senate To Pass 2019 Budget On April 16
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Senate To Pass 2019 Budget On April 16

The Senate on Tuesday promised to pass the 2019 budget on April 16. This is just as President Muhammadu Buhari declined to assent the controversial National Housing Fund Bill and seven others recently passed by the National Assembly. The Senate President Bukola Saraki, made the announcement at plenary on Tuesday. He urged sub-committees of the Appropriation Committee to submit their reports by Friday this week. He also mandated the Appropriation panel to submit its report from April 9 to 11, 2019. Saraki subsequently adjourned plenary to April 9 to enable relevant committees to complete budget defence sessions with ministries, departments and agencies. Details soon…Senate  
Lawmakers Uncover Errors in 2019 Budget
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Lawmakers Uncover Errors in 2019 Budget

                                                                Yakubu-Dogara Relevant committees of the House of Representatives were wednesday mandated to liaise with Ministry of Budget and National Planning, and the Ministry of Finance to urgently correct some irreconcilable differences in figures presented in the 2019 Appropriation Bill if the second reading must continue today. The Speaker, Hon.Yakubu Dogara, who gave the directive wednesday after the duo of Hon. Adamu Chika representing Shiroro/ Rafi/Munya of Niger State and Hon. Ahman-Pategi representing Edu/Moro/Pategi Federal Constituency of Kwara State picked holes in the 2019 budget, said the ministries must present an error-free document today to enable lawmakers continue work on the document. Chika and Ahman-Pategi ...
Saraki Decries Use of $1.05bn NLNG Dividends for Fuel Subsidy
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Saraki Decries Use of $1.05bn NLNG Dividends for Fuel Subsidy

Bukola Saraki •PDP asks president to speak on expenditure Senate President Bukola Saraki has faulted reported use of $1.05billion, by the Nigeria National Petroleum Corporation (NNPC), from its dividends from the Nigeria Liquefied Natural Gas (NLNG) for fuel subsidy. Saraki said the Senate would, therefore, on resumption of plenary today investigate the claims made before the Senator Ahmad Lawan’s Ad-hoc Committee by the Group Managing Director of the NNPC, Mr. Maikanti Baru, on how and why the corporation diverted the dividend from the NLNG to defray the cost of under-recovery in the importation of fuel. The Senate president, who was quoted as saying this while speaking with newsmen at the Ilorin airport on Monday, according to a statement by his media adviser, Mr. Yusuph Ol...
Senate Committee Gives NNPC Two Weeks to Account for $1.05bn Fuel Subsidy
News

Senate Committee Gives NNPC Two Weeks to Account for $1.05bn Fuel Subsidy

The Senate Ad-hoc Committee investigating the alleged $3.5 billion petroleum subsidy by the Nigeria National Petroleum Corporation, NNPC, has given a two- week ultimatum to the NNPC to account for $1.05billion it reportedly spent on fuel subsidy within the last one year. The Senate had on October 16 set up the ad-hoc committee following allegations by Senate Minority Leader, Senator Biodun Olujinmi, that NNPC was unilaterally running an illegal $3.5 billion fuel subsidy account without a recourse to the National Assembly. NNPC Managing Director, Mr Maikanti Baru, told the committee at a public hearing Thursday evening that the Corporation spent $1.05billion to defray under recovery cost of Premium Motor Spirit(PMS) from October 2017 to date. Chairman of the 15- man committee and...
PDP Can’t Wish Away Atiku’s Sins, Says APC
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PDP Can’t Wish Away Atiku’s Sins, Says APC

The All Progressives Congress APC has again knocked the Peoples Democratic Party PDP for attempting to wish away alleged past infractions of its Presidential Candidate, Atiku Abubakar. Chief Olusegun Obasanjo, PDP Presidential candidate, Atiku Abubakar Spokesman of the APC, Yekini Nabena in a statement Thursday said the issue of integrity would continue to be debated ahead of the 2019 general elections. He said; “A spokesperson for the Peoples Democratic Party PDP, Mr. Kola Ologbondiyan released a statement accusing the senior officials of the All Progressives Congress-led administration of “deliberate efforts impugn on the character” of the PDP presidential candidate, Alh. Atiku Abubakar. “The PDP’s assertion particularly coming from its spokesperson is ironic and laughabl...
Senate Finally Passes 2017 Budget
News

Senate Finally Passes 2017 Budget

The 2017 budget has been finally passed by the Senate, report just reaching Business Post from Abuja indicates. The Senate, coming out of a closed-door session, announced the passage of the budget after over four months. The 2017 appropriation bill was submitted to a joint session of the National Assembly in 2016 by President Muhammadu Buhari. With the passage of the budget on Thursday, May 11, 2017 (today), the executive would be required to go through it before assenting to it. Details later.
House Of Representatives Passes 2017 Budget Of N7.44 Trillion
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House Of Representatives Passes 2017 Budget Of N7.44 Trillion

The House of Representatives has, Thursday, passed the 2017 budget of N7. 44 trillion. The House passed the budget after adopting the report from the appropriation committee on the budget. Meanwhile, the senate is currently in a closed-door session over passage of the 2017 budget. Recall that the Senate President, Bukola Saraki, had on Tuesday shortly after the budget report was laid said it will be considered and passed today.
Osinbajo Requests Senate’s Approval For $500m Euro Bond
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Osinbajo Requests Senate’s Approval For $500m Euro Bond

The Vice President, Prof. Yemi Osinbajo, on Wednesday, urged the Senate to approve $500m Euro Bond to fund the 2016 Budget deficit. In a letter to the upper chamber read by President of the Senate, Dr Bukola Saraki, at plenary, Osinbajo explained that the request was based on the 2016 appropriation, which provided for new borrowings. He requested the resolution of the National Assembly for the issuance of the $500m Euro Bond in the international capital market for the funding of the 2016 budget deficit. “The senate may wish to refer to item 229 and 244 of the 2016 Federal Government of Nigeria Appropriation Act which provided for a deficit of N2, 204.74 billion and new borrowings of N1, 818.68bn, respectively. “The Act also provided for domestic borrowing of N1, 182.80bn and ex...
Reps Reject N305/Dollar Exchange Rate For Budget
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Reps Reject N305/Dollar Exchange Rate For Budget

The House of Representatives yesterday rejected the Federal Government’s exchange rate of N305/dollar in this year’s budget, saying it would engender huge corruption, with the almost N500/dollar at the parallel market. Members of the Green Chamber also queried the Executive on the domestic borrowing plan of the President Muhammadu Buhari administration, saying it will stifle funds that could have been made available to the real sector and small businesses to grow the economy and move the country out of recession. Of the N2.321 trillion borrowing plan projected in the budget, N1.253 trillion is to be sourced from the domestic market. The lawmakers, who spoke during an interactive session with members of the Executive with the committees on Finance, Appropriation, Aid Loans & De...
Rivers Assembly Passes N470b 2017 Budget Into Law
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Rivers Assembly Passes N470b 2017 Budget Into Law

The Rivers State House of Assembly has passed into law the total sum of four hundred and seventy billion naira 2017 budget proposed by Rivers State Governor, Nyesom Wike. The passage of the budget was announced by the Speaker of the House of Assembly, Adams Dabotorudima after a careful consideration of report from the House Committee on Appropriation. The Appropriation committee headed by the Leader, Martins Amaewhule made the recommendation that the Bill be passed without delay. After a careful deliberation by the committee of the House on the Whole headed by the Speaker of the House, the 2017 Appropriation Bill was passed into Law by eighteen members of the state House of Assembly.  

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