NEWS
FG Approves Infrastructure Support Fund for 36 States
…Infrastructure Support Fund
By Matthew Dadiya, Abuja
President Bola Tinubu has approved the establishment of Infrastructure Support Fund (ISF) for the 36 States of the Federation .
This, according to the presidency was part of measures to cushion the effects of the petrol subsidy removal on Nigerians.
The approval was disclosed at the monthly meeting of the Federation Account Allocation Committee (FAAC), on Thursday July 20, 2023, in Abuja, according to a statement by Dele Alake Special Adviser to the President on Special Duties, Communications and Strategy.
“The new Infrastructure Fund will enable the States to intervene and invest in the critical areas of Transportation, including farm to market road improvements; Agriculture, encompassing livestock and ranching solutions; Health, with a focus on basic healthcare; Education, especially basic education; Power and Water Resources, that will improve economic competitiveness, create jobs and deliver economic prosperity for Nigerians.
The Committee also resolved to save a portion of the monthly distributable proceeds to minimize the impact of the increased revenues-occasioned by the subsidy removal and exchange rate unification-on money supply, as well as inflation and the exchange rate.
“Out of the June 2023 distributable revenue of 1.9 trillion Naira, only N907 billion will be distributed among the three tiers of government, while N790 billion will be saved, and the rest will be used for statutory deductions.
“These savings will complement the efforts of the Infrastructure Support Fund (ISF) and other existing and planned fiscal measures, all aimed at ensuring that the subsidy removal translates into tangible improvements in the lives and living standards of Nigerians.
“The Committee commends President Tinubu for the bold decision to remove the petrol subsidy, and even more importantly, for providing necessary support to the States to cushion the effects of the subsidy removal on Nigerians” the statement said.
U.S. President Donald Trump has called on Iran to conclude an agreement with Washington on its controversial nuclear programme, amid a series of Israeli strikes on nuclear facilities and military leaders.
“There is still time to make this slaughter come to an end,” Trump wrote on his social media platform Truth Social on Friday.
“Iran must make a deal, before there is nothing left, and save what was once known as the Iranian Empire,” Trump continued.
“JUST DO IT, BEFORE IT IS TOO LATE.”Observers consider it unlikely that Iran’s leadership would opt for a diplomatic approach in light of the Israeli attacks.
Israeli media reported that Tehran had retaliated with an attack involving about 100 drones, all of which were shot down.
“I gave Iran chance after chance to make a deal,” Trump wrote.
“The U.S. makes the best and most lethal military equipment anywhere in the World, BY FAR, and Israel has a lot of it, with much more to come and they know how to use it,” Trump wrote. (dpa/NAN)
The Federal Government on Thursday condoled the Indian government over the tragic crash of Air India Flight-171 in Ahmedabad.The Minister of Foreign Affairs, Amb. Yusuf Tuggar, disclosed this in a statement issued by Kimiebi Ebienfa, Spokesperson of theMinistry.Tuggar said, “Nigeria expresses profound sorrow and extends its heartfelt condolences to the government and people of India over the tragic crash of Air India Flight 171 in Ahmedabad on June 12, 2025.
“This devastating incident which claimed the lives of over 290 individuals has left the global community in mourning. “Nigeria stands in solidarity with India during this period of immense grief and unfortunate loss.“While initial reports indicate no Nigerian citizen was aboard the flight, the Nigeria High Commission in New Delhi remains in close contact with Indian authorities to verify this information and provide consular assistance where necessary.“In this moment of shared sorrow, Nigeria reaffirms its commitment to global aviation safety and supports the call for thorough investigation into the crash with a view to preventing such tragedies in the future.”The minister further commiserated with the families of the bereaved and all those affected by this tragic incident. (NAN)
The Speaker, Benue House of Assembly, Mr Hyacinth Dajoh, has advised youths in the state to participate actively in the economic and political development of the country.Dajoh gave the advice in his Democracy Day message issued by his Press Secretary, Mr Terver Zamber, in Makurdi.
The speaker urged youths to show more interest in the economic and political development of the country. He said that they had the required education, exposure, and numerical strength to make a positive impact on both the economy and governance. Dajoh assured the youths that the assembly under his leadership would continue to enact laws to protect democracy and the rule of law.The speaker urged Nigerians to be more determined in ensuring that democracy worked in the country.He said that democracy remained the best option for the country.The speaker added that through the determination of the citizens and their active participation in the democratic process, Nigeria would be a great country.He saluted the heroic deeds of patriots who worked assiduously to actualise democratic rule in the country, especially the symbol of the June 12 struggle, the late M.K.O. Abiola.According to him, only a truly great, peaceful and prosperous Nigeria could be a befitting compensation for their sacrifices.He commended President Bola Tinubu and Gov. Hyacinth Alia of Benue for their roles in upholding democratic principles.Dajoh said that more sacrifices were required from the citizens to ensure that the country got the best of democracy. (NAN)
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