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Senate moves to endorse Tinubu’s N1.77tn loan request within 24hrs

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President Bola Tinubu has requested the National Assembly for approval of N1.767tn loan already captured in the external borrowing plan for implementation of the N28.7trillion 2024 budget.

President Tinubu who made the request in separate letters read in Senate and House of Representatives during plenary on Tuesday, said if approved, the loan will be used to part-finance the budget deficit of N9.7tn for the 2024 budget.

The Senate President , Godswill Akpabio after reading the letter , mandated the Senate Committee on Local and Foreign to work on the request and report back within 24 hours .

“The Presidential request for $2.2billion , equivalent of N1.767trillion loan is already enshrined in the external borrowing plan for the 2024 fiscal year .

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” The Senate Committee on Local and foreign debts , should therefore , give the request expeditious consideration and report back within 24 hours .

The president has also forwarded the Medium Term Expenditure Frame work (MTEF) and Fiscal Strategy Paper (FSP) for 2025- 2027 to both the Senate and the House of Representatives .

In giving the request expeditious consideration , Senator Godswill Akpabio after reading the letter containing it , mandated the Senate Committee on Finance , National Planning and Economic Affairs to consider it at committee level and report back in one week.

Key parameters in the 2025 – 2027 MTEF/FSP documents needed for consideration and approval of the proposed N47.9trillion 2025 budget are ÷ $75 oil price benchmark per barrel, Daily Oil Production of 2.06 million barrels , Exchange Rate of N1,400 to $1 and targeted GDP Growth rate of 6.4%..

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President Tinubu in another letter to both chambers of the National Assembly , sought approval for Social Investment Programme Amendment Bill

The proposed amendment aims to strengthen the framework for implementing the government’s social welfare programmes, ensuring greater transparency and efficiency.

He explained further that the amendment seeks to designate the National Investment Register as the primary tool for targeting beneficiaries of social investment initiatives. This measure, he said, would ensure that welfare programmes are data-driven and deliver effective social protection to Nigeria’s most vulnerable citizens.

“The amendment will make our social and welfare programmes more transparent, efficient, and impactful in addressing the needs of vulnerable Nigerians,” he said

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He further noted that the request was made in accordance with Section 58(2) of the 1999 Constitution (as amended) and urged the Senate to give the bill urgent consideration.

The proposed amendment, if passed, will improve the management and delivery of social investment programmes, enhancing their capacity to combat poverty and inequality across the country. The Senate has referred the bill to relevant committees for review and is expected to deliberate on the proposal in subsequent sessions.

This development indicates that the Tinubu’s administration is committed to leveraging technology and data to optimize the impact of its social welfare initiatives.

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South Africa’s Police Boss Charged Over Controversial Health Contract

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South Africa’s Police Chief Charged Over Controversial Health Contract
South Africa’s national police commissioner has been formally charged over alleged irregularities tied to a controversial health services contract awarded within the police service.

According to reports, the case relates to a multi-million rand contract intended to provide health and wellness services for police officers, which later came under scrutiny over procurement concerns.

The contract is said to have been cancelled after questions were raised about how it was awarded and whether proper procedures were followed.

The police chief, identified as Fannie Masemola, is accused of failing in his responsibilities as accounting officer during the approval process of the deal.

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He is expected to face multiple charges as investigations continue into the circumstances surrounding the agreement.

Reports indicate that other senior officials within the police service, as well as a businessman linked to the contract, are also facing charges in connection with the case.

The matter has sparked widespread debate in South Africa over accountability, governance and transparency in public procurement processes.

Critics say the case highlights ongoing concerns about corruption risks in state institutions and the need for stricter oversight of government tenders.

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Civil society groups have also called for stronger enforcement of anti-corruption measures, especially in sectors involving public safety and essential services.

The case has drawn national attention due to the senior position held by the accused and the importance of trust in law enforcement leadership.

Analysts suggest the outcome of the proceedings could have wider implications for confidence in policing structures and reform efforts.

The police commissioner has reportedly indicated his intention to continue in office unless otherwise directed by the country’s leadership.

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Court proceedings have been postponed as the legal process continues and further investigations are carried out.

The case remains one of the most closely followed legal and governance developments in South Africa at present.

Source: Thepressradio.com

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Two soldiers wounded, 24 terrorists eliminated as troops repel attack in Yobe-Army reveals

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Troops of Operation HADIN KAI have repelled a coordinated terrorist attack on Kukareta in Yobe State, wasting 24 insurgents and recovering a ‘large cache of arms and ammunition in the process’.

According to an official statement issued on Thursday, the troops of the Joint Task Force (North East) under Sector 2 engaged the attackers in the early hours of the day, after they launched what was described as a “determined terrorist attack” on the Kukareta location.

The statement was signed by Lieutenant Colonel Sani Uba, Media Information Officer at Headquarters Joint Task Force (North East), Operation HADIN KAI.

The statement noted that “the attack, which commenced shortly after midnight and lasted until about 0300 hours, was met with a swift and coordinated response by vigilant troops who executed a deliberate offensive-defensive action, effectively containing the assault and forcing the terrorists into a disorderly withdrawal.”

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Military authorities disclosed that the fierce engagement resulted in significant losses for the insurgents, with “24 terrorists neutralised so far,” while troops continue to comb the area for additional casualties and fleeing fighters.

In the aftermath of the confrontation, troops reportedly recovered a substantial stockpile of weapons and ammunition abandoned by the retreating terrorists.

Items recovered include “18 AK-47 rifles, 3 General Purpose Machine Guns (GPMG), 2 PKT automatic anti-aircraft guns, 3 RPG tubes, 2 mortar tubes, 4 hand grenades, 18 AK-47 magazines, and large quantities of belted 7.62mm ammunition for PKT systems.”

The military also confirmed casualties on the side of government forces.

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“Troops recorded 2 personnel wounded in action, who have been stabilised,” the statement said, adding that “one reinforcing armoured tank sustained damage with all tyres blown out during the engagement,” the statement said.

Further details indicated that exploitation operations are ongoing across the battlefield, particularly along the withdrawal routes of the insurgents. These areas were described as being “littered with blood trails and medical consumables,” suggesting that more casualties may have been inflicted on the fleeing fighters.

Kukareta, located within the broader conflict-affected areas of Yobe State, has witnessed periodic insurgent incursions, making sustained military vigilance critical to preventing territorial breaches and protecting civilian populations in surrounding communities.

The Army emphasized that the successful defence of Kukareta underscores the operational strength of its forces in the North East theatre.

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It stated that “this successful operations highlights the resilience, combat readiness and fire superiority of OPHK troops in denying terrorists freedom of action.”

Reaffirming its commitment to sustaining pressure on insurgent groups, the military assured that “operations will continue with sustained offensive pressure to consolidate gains and decisively defeat all terrorist elements across the Joint Operations Area.”

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Wale Edun resigned as Finance Minister on health grounds — Presidency

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The Presidency has clarified that former Finance Minister Wale Edun and former Housing Minister Ahmed Musa Dangiwa voluntarily resigned their positions before President Bola Tinubu announced their replacements on Tuesday, dismissing insinuations that the two ministers were fired.

Edun, who turned 70 on Monday, submitted his resignation letter on his birthday, citing health reasons.

He paid a valedictory visit to the President at the Villa on Tuesday, holding an hour-long discussion before departing to focus on his private businesses.

“It has been a pleasure and privilege to serve your administration and the Renewed Hope Agenda,” Edun wrote in his resignation letter, adding that Nigeria had emerged stronger and more internationally respected under Tinubu’s leadership.

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Dangiwa similarly tendered his resignation and thanked the President for the opportunity to serve in the Federal Executive Council.

Edun, an economist and investment banker, served as Lagos State Commissioner for Finance between 1999 and 2004 under then Governor Tinubu.

He co-founded Investment Banking and Trust Company Limited, now Stanbic IBTC, in 1989, and later founded the Chapelhill Denham Group in 1994.

Dangiwa, an architect, previously served as Managing Director of the Federal Mortgage Bank between 2015 and 2022 and as Secretary to the Katsina State Government before his ministerial appointment in August 2023.

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Tinubu expressed appreciation to both men for their contributions to his administration’s economic reform programme and urged the incoming Finance Minister, Taiwo Oyedele, to consolidate ongoing reforms with renewed focus and discipline.

The President is expected to shortly transmit the name of Muttaqha Rabe Darma, also from Katsina, to the Senate for confirmation as the new Housing Minister.

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