News

Edo Assembly approves N409.2 billion supplementary budget for Obaseki

Published

6 months ago

May 23, 2024

Barely five months after assenting to the 2024 appropriation bill by the Edo State Governor, Godwin Obaseki, the State House of Assembly has shored up the budget to N409, 217,894,248,87 billion.

The governor had on December 22, 2023, assented to N342.825,969,909,21 billion appropriation bill, which was N17.5 billion higher than the N321.4 billion earlier presented to the House.

The raising of the budget to N409.2 billion was sequel to the House’s consideration and approval of the Governor Obaseki’s letter requesting a revision of the 2024 budget.

The lawmakers, while speaking in favour of the revised/supplementary budget, noted that it would enable the governor to finish his eight-year administration of the state well.

Moving the motion, Charity Aiguobarueghian, the Majority Leader of the House, noted that the supplementary budget was necessary for the state government to get legislative backing for the implementation of the N70,000 new minimum wage approval for the state’s workers recently.

Charity, also opined that it would also allow the governor to complete all the ongoing projects awarded.

Other lawmakers that spoke in favour of the supplementary budget include, Maria Edeko (PDP), the deputy speaker, Eric Okaka, (APC), the minority leader of the House, Eigbiremonlen Fada Sunday, (PDP), Esan Central and Ugabi Kingsley Oghenakhogie (APC), Etsako East constituencies.

They all noted that, if approved, the revised supplementary budget would give the government the financial enablement to complete all ongoing projects and thereby eliminate cases of abandoned projects.

The House, at the committee of the whole, however, shored up the 2024 fiscal year budget to N409.2 billion, an increase of N66.4 billion.

In the new supplementary budget, recurrent expenditure is now N182, 446,255,325, 16 billion, while capital expenditure stood at N226, 771, 634, 923, 71billion as against the earlier assented budget of N154, 276,225,868,96 billion and N188,549,744,040,26 billion, respectively.

The Speaker of the House, Blessing Agbebaku, who summed up the deliberation, said a clean copy of the approval will be sent to the state governor for his assent.

News

Reps Honour Governor Bago For Outstanding Performance

Published

2 hours ago

November 27, 2024

Gloria Ikibah

…say he is as worthy ambassador of Nigerian parliament

By Gloria Ikibah

The House of Representatives on Tuesday at plenary commended the Executive Governor of Niger State, His Excellency, Rt. Hon. Mohammed Umaru Bago (Turakin Nupe), for his exemplary leadership and outstanding achievements in office. Governor Bago, was a member of the 7th, 8th, and 9th Assembly.

During the session, Rep. Babajimi Benson, lawmaker representing Ikorodu Federal Constituency of Lagos State, rose under matters of personal explanation to praise Governor Bago’s achievements, particularly in agricultural revolution, infrastructural development, and enhancing religious tolerance. Hon. Benson noted that Governor Bago’s efforts have not only benefited Niger State but also have the potential to impact the entire country and West Africa.

He cited a conversation with a Cameroonian General who studies at Harvard, who expressed admiration for Governor Bago’s giant strides in ensuring that Niger State can feed itself and Nigeria in a few years to come.

Also Rep. Saeed Abdullahi, SMA (Gwarzon Nupe), Member representing Bida/Gbako/Katcha Federal Constituency of Niger State, contributing to the deliberation, also commended Governor Bago’s vision, drive, and energy, which have transformed the political and economic fortunes of Niger State. He highlighted the Governor’s efforts to cultivate 250,000 hectares of land for sugarcane production, a project inspired by a recent study tour to Brazil.

According to Rep. Saidu, the study tour revealed that Niger State has the potential to generate about $1 billion in revenue from sugarcane production, making it a game-changer for the state’s economy.

The Speaker Tajudeen Abbas (Iyan Zazau), thanked Rep. Jimi for the encomium poured on Governor Bago, describing him as a pride and worthy Ambassador of the Parliament.

The Speaker humorously suggested that Rep. Saidu deserved to be appointed as the Director-General of Governor Bago’s 2027 re-election campaign for making brilliant submission on the performance of his State’s Governor.

News

Nigeria’s Livestock Sector Will Generate N33trn Revenue If Properly Harnessed – Minister Maiha

Published

4 hours ago

November 27, 2024

Gloria Ikibah

By Gloria Ikibah

The Minister of Livestock Development, Idi Maiha, has said that Nigeria’s livestock sector can generate about N33 trillion as revenue, if propoerly unbundled and harnessed.

The Ministry disclosed this during an inaugural meeting with the House of Representatives Committee on Livestock Development on Tuesday, in Abuja.

According to him, once full activities commence, the sector has the potential to attract a lot of capital into the country, adding that Nigerian businessmen have already indicated interest to go into ranching and dairy farming.

Maiha therefore who said that state governments have a critical role to play, urged them to create dedicated Ministries of Livestock for a more seamless relationship with the federal government.

He said: “At the moment we are taking stock of those state governments that have external ministry of livestock and fisheries. For state governments that have not created they should give it effect and have a standing Ministry for Livestock so there would be a seamless relationship between the Federal Ministry of Livestock Development and the State Ministries of Livestock as the case may be.

“This sector sector is worth about 33 trillion naira once unbundled. Once unbundled we have a huge opportunity to attract capital into the country as well as have a lot of ranchers. At the moment we have a lot of requests from Nigerian businessmen who want to go into ranching and dairy activities.

“So it is a question of settling down and unbundling this Ministry, giving it to into the formal sector so that it can be derisked and people will know that beyond what everybody has been saying before the creation of this Ministry, today there is a strong political support from the office of the President and then this Committee.”

Naijablitznews.com recalled that upon assumption of office, the Minister pledged to reform Nigeria’s livestock industry to enhance food security, create a safe environment for all stakeholders, and attract foreign investment.

He disclosed a vision for the newly established ministry to include comprehensive reforms aimed at “unbundling” the sector, strengthening infrastructure, and meeting Nigeria’s growing demand for animal protein.

Earlier in his remarks, Chairman of the Committee, Rep. Wale Raji, said the transformation of the livestock sector of the country has lots of opportunities for job creation, economic growth and national development.

The Chairman who acknowledged the urgency needed in the sector, vows to partner with the Ministry to ensure speedy implementation of the sector, and expressed confidence in the capacity of the Minister to deliver on his mandate.

“The only regret is that the creation of the ministry is coming this late. But our consolation is that it is better late than never. And with your wealth of experience as a technocrat and also a practicing farmer, we have no doubt that we have a round peg in round hole. The whole essence would be towards the development and progress of the country,” he said

He however warned that the Committee will not compromise on its oversight function.

News

Gov Eno presents N955bn budget to Akwa Ibom Assembly

Published

5 hours ago

November 27, 2024

Kayode Sanni-Arewa

Akwa Ibom State governor, Pastor Umo Eno, presented a proposed total budget outlay of N955 billion for the 2025 fiscal year to the State House of Assembly for consideration on Tuesday.

This was against the revised provision of N923.46 billion in the 2024 budget.

The 2025 financial appropriation estimate comprised recurrent expenditures of N300 billion and capital expenditures of N655 billion.

Eno said that the total capital receipts and expenditure for the year 2025 is estimated at N655 billion as against the proposed revised provision of N573.32 billion for 2024.

He said that the 2025 Budget, which is christened “Budget for Consolidation and Expansion,” is predicated on an oil benchmark of $75 per barrel at a production rate of 2.12 million barrels per day with an estimated exchange rate of N1,400/US$.

The Governor added that the 2025 oil benchmark and exchange rate is in line with the National Budget benchmark projections.

He said that the total projected recurrent revenue for 2025 is estimated at ₦830 billion as against the proposed revised provision of B803.70 billion, representing a 3 per cent increase in revenue projection for the year 2025.

The governor said the policy thrust objectives of the 2025 budget would be to achieve food security through investing heavily in the agricultural revolution.

Other objectives included rural development through robust investments in modern living facilities such as all seasonal roads, rural electrification and others within rural communities to ultimately improve the quality of life for those in the rural areas and help stem rural-urban migration. Ensuring that public schools in the state are equipped and staffed by teachers who are passionate and dedicated.

He said to realise the year 2025 budget objectives, the state shall adopt and improve the effectiveness of budget performance by ensuring fiscal discipline through the implementation of only programmes that were captured in the budget, among other strategies.

In his remarks, Speaker of the Assembly, Udeme Otong, assured the governor that the lawmakers would quicken the consideration process to ensure speedy passage of the 2025 budget estimate to fasten development in the state.

Otong urged all heads of Ministries, Departments, and Agencies (MDAs) in the state to cooperate with the House of Assembly during the budget defence to ensure speedy passage of the budget.