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Tinubu set to travel from France to South Africa

Published

2 weeks ago

December 1, 2024

President Bola Tinubu is to continue his international diplomatic engagements with a visit to South Africa, following his ongoing trip to France.

The president is scheduled to leave France on Monday, December 2, 2024, and will arrive in Cape Town, South Africa, where he will co-chair the 11th session of the Nigeria-South Africa Bi-National Commission (BNC) alongside South African President Cyril Ramaphosa.

The BNC session will take place on Tuesday, December 3, 2024, and will be preceded by a ministerial meeting on December 2, 2024, at the South African Parliament Building in Cape Town. The two leaders will engage in comprehensive discussions on various matters of mutual interest, encompassing both bilateral and regional issues, as well as international concerns.

The statement issued by Bayo Onanuga, President Tinubu’s spokesman, highlighted that the meeting would build on commitments made during a previous engagement between the two leaders on June 20, 2024, in Johannesburg. During this earlier meeting, following President Ramaphosa’s re-election for a second term, both presidents reviewed the progress achieved since the 10th BNC session held in Abuja in late 2021.

The 11th session of the BNC will feature deliberations across eight key working groups, focusing on specific areas of cooperation. These include political consultations, consular and migration matters, banking and finance, defence and security, manufacturing, the social sector, mines and energy, and trade and investments.

In addition, several Memoranda of Understanding (MoUs) and agreements are expected to be signed by officials from both countries during the session, aimed at strengthening the partnership between Nigeria and South Africa across these critical areas.

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BREAKING: President Tinubu Presents N47.9trn Appropriation Bill To NASS

Published

52 minutes ago

December 18, 2024

Gloria Ikibah

…improvement witnessed in 2024 led us to 2025 budget – Tinubu

…say “Time for lamentation is over”

By Gloria Ikibah

President Bola Ahmed Tinubu in a Joint Session of the Senate and House of Representatives on Wednesday, 18 December 2024, presented the sum of N47.9 trillion as the proposed 2025 Appropriation Bill, with new borrowings of N13.0 trillion, which is 3.87 per cent of the estimated Gross Domestic Product (GDP).

The President, in his address to the National Assembly described the 2025 Budget as the “Budget of Restoration” which he said, reinforces the administration’s roadmap to secure peace, prosperity, and hope for a greater future for Nigeria.

“This budget christened, “Budget of Restoration: Securing Peace, Rebuilding Prosperity,” strikes at the very core of our Renewed Hope Agenda and demonstrates our commitment to stabilizing the economy, improving lives, and repositioning our country for greater performance.”

The budget of restoration according to president Tinubu, serves as the very hope of the Renewed Hope Agenda and improving the lives of Nigerians.

He said the 2025 budget is one of the reform and transformation to consolidate the key policies of the Tinubu-led administration. Reeling out the progress made he said global economic growth for Nigeria increased from the 2.6% estimated to 3.5% growth.

Naijablitznews.com recalled that the 2025-2027 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), and its fiscal parameters, adopted an “an oil price benchmark of $75 per barrel for 2025, oil production of 2.06 million barrels per day, an exchange rate of N1400 to $1, and a GDP growth of 4.6 per cent.”

President Tinubu said the 2025 budge seeks to restore micro economic stability, foster increased growth, employment, human capital development.

He said: “The journey of economic renewal and institutional development, which we began 18 months ago as a nation, is very much underway. It is not a journey of our choosing but one we had to embark on for Nigeria to have a real chance at greatness. I thank every Nigerian for embarking on this journey of REFORMS and TRANSFORMATION with us.

“The road of reforms is now clearly upon us, and as the President of this blessed nation, I know this less-travelled road has not been easy. That there have been difficulties and sacrifices. They will not be in vain. And we must keep faith with the process to arrive at our collectively desired destination.

“We must build on the progress we have made in the past eighteen months in restructuring our economy and ensuring it is strong enough to withstand the headwinds of any future shocks of the global downturn.

“The 2025 budget that I present today is one of restoration. It seeks to consolidate the key policies we have instituted to restructure our economy, boost human capital development, increase the volume of trade and investments, bolster oil and gas production, get our manufacturing sector humming again and ultimately increase the competitiveness of our economy.

“We do not intend to depart from this critical path to strengthen the Nigerian economy. Just as I believe in the resilience of our economy to withstand the current challenges, I also strongly believe in the resilience of the Nigerian people. Again, I summon the unstoppable Nigerian spirit to lead us on as we work to rebuild the fabric of our economy and existence.

“The improvements we witnessed in the 2024 budget have led us into the 2025 budget. The goals of advancing national security, creating economic opportunities, investing in our youthful population, infrastructure development, and national re-orientation form the core of the 2025 budget. But more than that, this will lay a solid foundation for Nigeria’s future growth trajectory”.

The President said the reforms instituted are beginning to yield results and Nigerians will soon experience a better and more functional economy.

According to him, these clear results of gradual recovery, among others, reflect the resilience of our economy and the impact of deliberate policy choices we made from the outset.

“Global economic growth for the outgoing year 2024 was projected at 3.2 percent, and against predictions, our country made significant progress.

“Our economy grew by 3.46 percent in the third quarter of 2024, up from 2.54 percent in the third quarter of 2023.

“Our Foreign Reserves now stand at nearly 42 billion US dollars, providing a robust buffer against external shocks.

“Our rising exports are reflected in the current trade surplus, which now stands at 5.8 trillion naira, according to the National Bureau of Statistics.

Tinubu informed that his administration attained remarkable milestones in implementing the 2024 Budget.

“In 2024, we achieved: 14.55 trillion naira in revenue, meeting 75 percent of our target as of the third quarter; 21.60 trillion naira in expenditure, representing 85 percent of our target, also in the third quarter.

“While challenges persist, we improved revenue collection and fulfilled key obligations. The transformational effects of this on our economy are gradually being felt”, the President added.

Hw explained that the budgetary allocations reflect the administration’s strategic priorities, especially in the implementation of the Renewed Hope Agenda and its developmental objectives.

The 2025 Budget President said seeks to restore macroeconomic stability, enhance the business environment, foster inclusive growth, employment, and poverty reduction and promote equitable income distribution and human capital development.

“The numbers for our 2025 budget proposal tell a bold and exciting story of the direction we are taking to retool and revamp the socio-economic fabric of our society.

“In 2025, we are targeting 34.82 trillion naira in revenue to fund the budget.

“Government expenditure in the same year is projected to be 47.90 trillion naira, including 15.81 trillion naira for debt servicing.

“A total of 13.08 trillion naira, or 3.89 percent of GDP, will make up the budget deficit. This is an ambitious but necessary budget to secure our future.

“The Budget projects inflation will decline from the current rate of 34.6 percent to 15 percent next year, while the exchange rate will improve from approximately 1,700 naira per US dollar to 1,500 naira, and a base crude oil production assumption of 2.06 million barrels per day (mbpd).

These projections the President said are based on reduced importation of petroleum products alongside increased export of finished petroleum products; bumper harvests, driven by enhanced security, reducing reliance on food imports; ncreased foreign exchange inflows through Foreign Portfolio Investments; and higher crude oil output and exports, coupled with a substantial reduction in upstream oil and gas production costs.

Tinubu said the budgetary allocations are informed by the commitment of his administration to security of lives and property, infrastructural development, education and healthcare delivery.

“Our budgetary allocations underscore this administration’s strategic priorities, particularly in advancing the Renewed Hope Agenda and achieving its developmental objectives.

“Highlights of the 2025 Budget Allocations:

• Defence and Security: N4.91 trillion

• Infrastructure: N4.06 trillion

• Health: N2.48 trillion

• Education: N3.52 trillion

He solicited the support of the lawmakers and Nigerians in addressing the country’s challenges

He stated: “The time for lamentation is over. This is a time to act. A time to support and promote greater investment in the private sector. A time for our civil servants to faithfully execute our policies and programmes. It is a time for every Nigerian to look hopefully towards a brighter future because a new day has dawned for us as a nation.

“As your President, I remain committed and resolute to continue to lead the charge.

“This 2025 budget proposal lays the foundation for peace, prosperity, and much needed hope. It is the plan through which a Nigeria where every citizen can dream, work, and thrive in safety can be achieved”.

News

Gov Adeleke Speaks On Death Sentence For Chicken Thief

Published

4 hours ago

December 18, 2024

Naijablitznews

Osun State Governor, Ademola Adeleke, has stepped in to call for immediate action in the case of Segun Olowookere, an indigene who was sentenced to death for stealing a fowl.

Recall Segun’s mother, Folashade Olowookere, emotionally shared the story of her son, who is currently imprisoned, during an interview on Nollywood actress Biola Adebayo’s YouTube podcast. The video gained significant attention, including from Governor Adeleke.

Naijablitznews reports this was contained in a statement from the Governor’s spokesperson, Olawale Rasheed, Adeleke directed a swift investigation and ordered that steps be taken for a potential pardon in Segun’s case. The Governor further instructed the Attorney General to ensure Segun is considered for the prerogative of mercy before the year ends.

The statement read, “I have reviewed the case and acknowledge the importance of the separation of powers in our democracy. In this instance, I have instructed the Commissioner for Justice to begin the process of granting mercy to this young man.

“Osun is a state of justice and fairness. We must uphold the protection of lives and ensure equity.

“I want to assure the public that this matter is receiving my personal attention, and we are acting with urgency as a responsible government.”

News

Delta Assembly pardons two suspended members

Published

4 hours ago

December 18, 2024

Naijablitznews

The Delta State House of Assembly, on Tuesday, recalled two of its members that were suspended in November over alleged gross misconduct.

The News Agency of Nigeria reports that the recall was announced during plenary in Asaba by the Speaker, Mr Dennis Guwor.

Recall that the Assembly had on November 6 suspended Mr Dafe Chukudi (PDP-Ukwuani) for 14 legislative days over alleged gross misconduct, while Mr Oboro Preyor (PDP-Bomadi) was also suspended for 14 legislative days for the same offense on November 12.

“Dear colleagues, following the allegation of gross misconduct against our suspended members and subsequently, a committee on investigation headed by the Deputy Speaker, Mr Arthur Akpowowo, was set up.

“The committee has commenced investigation. However, the 14 days that they were suspended has elapsed. And by the confidence you all reposed in me as the Speaker of the state House of Assembly, and now that the 14 days of their suspension has elapsed, there is need to recall Mr Dafe Chukudi and Mr Oboro Preyor to resume their duties as members going forward.

“The suspended members are hereby recalled pending on the outcome of their investigative committee.”

Meanwhile, the Deputy Speaker, Mr Arthur Akpowowo, expressed joy over the recall of the lawmakers, saying, “I am very happy that we have lifted their suspension.

“The Speaker has recalled them so that they can celebrate the Christmas with joy and even enter the New Year with some relief of happiness. For me, this is a party gift for me even though I’m not affected.”