NEWS
Nigerians Seek Prudent Implementation of 2025 Budget
Experts in social and economic sectors have advocated proactive financial regulatory measures to ensure probity and accountability in the implementation of the 2025 budget.The experts, including economics, academics, public administrators and entrepreneurs, spoke in Bauchi, Dutse and Gombe while reacting to the 2025 budget presentation to the National Assembly by President Bola Tinubu.
They said the measure was imperative to stimulate successful implementation of development programmes outlined in the proposed estimate. Tinubu on Wednesday presented a proposed N47.96 trillion government expenditure for 2025 fiscal year.Highlights of the budget allocations included N4.91 trillion for defence and security; infrastructure N4.06 trillion, health N2.48 trillion and education N3.52 trillionThe budget seeks to restore macroeconomic stability; enhance the business environment, foster inclusive growth, employment and poverty reduction as well as promote equitable income distribution and human capital development.Mr Abubakar Garba, a Bauchi-based entrepreneur, said the proposed estimate marked a significant milestone in Tinubu’s effort to drive economic growth and development in Nigeria.He said the budget was a clear indication of the president’s commitment towards revamping Nigeria’s economy.Dr Adamu Hassan, a lecturer at the Federal Polytechnic Bauchi, said the budget would make a positive impact on Nigerians.“The proposed budget allocation to key sectors such as education, healthcare and infrastructure development will go a long way in addressing the developmental challenges facing our country,” he said.He said the government also planned to drive inflation down from 34.6 per cent to 15 per cent, and improve the exchange rate from approximately N1,700 to N1,500 per U.S. dollar, and increase crude oil production to 2.06 million barrels per day.According to Hassan, Tinubu administration’s reforms are beginning to yield positive results, which will boost the social and economic fabric of Nigerian society.Also, Mr Gad Daniel, Executive Director, Maltex Development Initiative, expressed optimism over the increased budgetary allocation to defence, adding that it would address insecurity in the country. He said the improved allocation for infrastructure development would create an enabling environment for businesses to thrive.A farmer, Kabiru Musa, commended Tinubu’s proposed farmer support programme in the coming year, and called for measures to guard against diversion of fertilisers and inputs.Musa noted that without addressing the issue of inputs not getting to the genuine farmers, efforts of the administration in food security would not be achieved.Corroborating Musa, a female farmer, Jane Ayuba said strict monitoring mechanisms would prevent middlemen from diverting inputs meant for farmers, especially fertilisers and agrochemicals.She urged the Federal Government to adopt multi-crop support as against the usual rice, wheat, maize, sorghum among others.“The issue of funding and input support to farmers is a good policy statement if there will be a political will to push it to fruition. “Many people have embraced agriculture but insecurity has driven them away from their farmlands. “If there’ll be support in terms of subsidised farm inputs, fertiliser, that’ll be a great boost to agriculture as more people will leverage on the advantage to increase productivity,” she said.Similarly, Williams Attah, a journalist in Gombe, said the government’s focus in tackling insecurity would encourage more farmers to return to their farmlands.He called for proactive measures to address insecurity preventing farmers from carrying out their activities, especially farmer/herder clashes.However, Ahmad Balarabe, a resident of Dutse, said that effective monitoring and regulatory financial framework were necessary to guide implementation of the budget.This, he said, would ensure budget tracking and policy implementation to stimulate sustainable social and economic development outlined in the proposed budget.He said the increased allocation to security and social sectors would enhance access to quality education, healthcare service delivery, to improve the overall wellbeing of the citizens.Also contributing, Zulkiflu Muhammad and Mrs Zainab Ahmad, urged the government to ensure that all public schools, including tertiary institutions work optimally, considering the huge allocation to the sectors. (NAN)NEWS
Reps Move to Delist NECO, UI, 21 MDAs From 2025 Budget
The House of Representatives has recommended the delisting of National Examinations Council (NECO), University of Ibadan, Federal Ministry of Labour and Employment from the 2025 budget.
Others affected are 21 ministries, departments and agencies (MDAs) for their alleged repeated failure to account for previous budgetary allocations and internally-generated revenue.
The resolution was reached during an extra-ordinary sitting of the House of Representatives Public Accounts Committee in Abuja.
The decision, according to the chairman of the committee, Rep. Bamidele Salam, followed the persistent non-compliance of the MDAs with the committee’s summons, aimed at scrutinising their financial operations.
Among the agencies recommended for delisting are hospitals, universities and development agencies.
Salam said that the delisting recommendation was sequel to multiple invitations sent to the agencies over the past several months.
He added that the agencies failed to attend the scheduled hearings nor provide the necessary documentation requested by the committee.
Other affected MDAs included: the Federal Medical Centre, Bida; Federal Ministry of Labour and Employment; Ahmadu Bello University Teaching Hospital, Zaria and the Nigeria Police Force.
Also involved were the Department of Information and Communication Technology, Federal College of Education (Technical), Asaba; Federal College of Education, Yola and Federal Polytechnic, Ekowe, among others.
Salam said: “The Financial Regulation empowers the National Assembly to exclude any ministry, department or agency (MDA) that fails to account for their previous appropriations.
“As such, the listed MDAs should be excluded from the 2025 budget until they appear before this constitutional committee.”
Report says that the committee unanimously recommended that the 24 MDAs should be excluded from the 2025 budget until they appear and provide the necessary clarifications.(NAN)
NEWS
Yuletide: Benue Residents Groan over Cash Scarcity
Benue residents say they were facing severe financial difficulties as banks in the state grapple with a persistent cash crunch, forcing many customers to rely on Point of Sale (POS) terminals for everyday transactions.
They bared their minds in an interview on Wednesday in Makurdi.
According to them, the scarcity adversely affected people, particularly now that preparations were ongoing for end-of-year festivities.
A customer, Mr Wilfred Anum, decried the scarcity of physical currency, which had led to widespread frustration and long queues at Automated Teller Machines (ATMs).
“This is sad. We are at the mercy of POS operators. Some are charging as high as N300 and some even N400 to withdraw N10,000.
“Customers have increasingly resorted to POS systems to make payments and withdrawals, but the cost and limitations of using these alternatives are becoming significant hurdles.
“While POS transactions offer a solution, they come with their own set of problems, such that their transaction fees have become burdensome for those making frequent payments,” Anum said.
A small-scale trader, Mr Dondo Wende, also expressed concern over the additional charges that had made their businesses less profitable.
“The fees are too high, and sometimes the machines don’t work properly, causing delays,” Wende said.
Meanwhile, a trader, Mrs Nguveren Imo, said that the ongoing cash crisis was having a negative effect on the local economy, explaining that small businesses, which form the backbone of Benue’s economy, were the worse hit, as they rely heavily on cash transactions.
“The inability to access cash is stalling economic activities, and it has long-term consequences for the economy.
“We cannot survive without cash; it is difficult to pay local suppliers who need cash because they operate in non-bankable areas.
“We also need to settle debts or even buy stock. We are stuck in this cycle, and it is affecting not just businesses but families as well,” she said. (NAN)
Foreign News
No talk of Ceasefire Deal Between Turkey, US-backed SDF in Northern Syria – Turkish Official
There is no talk of a ceasefire deal between Turkey and the U.S.-backed Syrian Democratic Forces (SDF) in northern Syria, contrary to a U.S. announcement on the issue, a Turkish defence ministry official said on Thursday.
The official was responding to comments from State Department spokesperson Matthew Miller, who said a ceasefire between Turkey and the SDF around the northern Syrian city of Manbij has been extended until the end of this week.
“As Turkey, it is out of the question for us to have talks with any terrorist organisation.
“The (U.S.) statement must be a slip of the tongue,” the defence ministry official, who was speaking on condition of anonymity, told reporters.
Washington brokered an initial ceasefire between Turkey-backed Syrian rebels and the SDF forces last week after fighting that broke out earlier this month as rebel groups advanced on Damascus and overthrew Bashar al-Assad.
The SDF is an ally in the U.S. coalition against Islamic State militants.
It is spearheaded by the YPG, a group that Ankara sees as an extension of the Kurdistan Workers Party (PKK) militants who have fought the Turkish state for 40 years.
Turkey regards the PKK, YPG and SDF as terrorist groups. The U.S. and Turkey’s Western allies list the PKK as terrorist, but not the YPG and the SDF.
When asked if Ankara was considering another ground operation into northern Syria, the official said that Turkey still sees a threat to its borders from north Syria.
“Our preparations and precautions as part of the fight against terrorism will continue until the PKK/YPG lays down its arms and its foreign fighters leave Syria,” the official said.
Since 2016, Turkey has mounted four military operations in northern Syria, citing national security threats.
Turkey believes that forces of the Syrian National Army paramilitary group which it backs will “liberate” YPG-controlled areas in northern Syria, the official said, signalling that Turkey does not plan an imminent operation into the region by its military.
The SDF have close ties with Western countries including the U.S. and France. Recently, France said the political transition in Syria needed to ensure that the SDF was represented. (Reuters/NAN)