Economy
Kaduna State Ministry, House of Assembly Tango Over 2021 Budget
The Kaduna State Ministry of Human Services and Social Development and the House of Assembly have engaged themselves in a tango over the ministry’s capital budget for 2021.
While the ministry claims that the House removed votes for its capital projects in the approved 2021 budget, the legislature states that it did not do any such thing, but only worked on what the Executive presented to the House,
The ministry had proposed to spend N878.
5 million on various intervention projects in the incoming year.They include that for Vesico Vaginal Fistula intervention, N20 million; child protection services N83.2 million, and upgrading of a children and women centre, N23.
5 million.Others are support and assistance for the completion of 23 community self-help projects at N24.4 million; establishment of Kaduna State Youth Parliament, N21.9 million and intervention on Sexual Assault Referral Centres, N18.8 million.
There is also the N476.6 million being 1 per cent Internally Generated Revenue earmarked for Social Protection Programmes.
The commissioner in the ministry, Hajiya Hafsat Baba, who confirmed the removal of the capital vote, told the News Agency of Nigeria (NAN) that she did not know why the House moved the ministry’s capital budget to other ministries, departments and agencies that had no mandate on the intervention projects.
“I really do not know why the Assembly did that, but I learned that the members of the assembly have said that I am disrespecting them. This is not true.
“There was also the issue with the 774,000 Federal Government Public Works jobs, which I was accused of not giving the members additional slots, more than what I was directed to give them.
“The committee for the programme which I chaired, allocated 30 slots each to the Principal Officers of the House while each member got 25 slots,’’ she said.
The commissioner explained that the mandate of the ministry was to look after children, women, and youths and that removing its budget and spreading same to other agencies was irrational.
“I think they need to have a rethink and look at the issues objectively.
“If they have any grudge against me as an individual, it should not affect the good people of Kaduna State, particularly the vulnerable groups the ministry is catering for,’’ she added.
The Chairman, House Committee on Appropriation, Malam Ahmed Mohammed, however, refuted the commissioner’s claims.
Mohammed told NAN that what the Assembly did was to either increase or reduce a budgetary allocation and not move entire budgets to other Ministries, Departments and Agencies (MDAs).
“We will not deny any ministry the needed funds to execute its capital projects; that is not our job. The budget that was handed over to us by the Executive is what we worked on.
“There were no capital allocation for the ministry in the budget document that was handed over to us and we worked with what we were given.
“Besides, she was not even at the budget defence for us to look at her budget,’’ he said.
Mohammed also denied knowledge of any disagreement between the legislators and the commissioner over slots for Federal Government’s 774,000 Public Works programme.
He, however, accused the commissioner of being disrespectful to members of Assembly.
In her part remarks, Mrs Comfort Anwe, a member of the Assembly who chairs the committee overseeing the ministry, told NAN that she was not aware that the capital allocation of the ministry was moved to other MDAs.
Another stakeholder, Mr Emmanuel Bonet, Executive Director, Aid Foundation, a non-governmental agency, said in a statement issued on Thursday in Kaduna that the development was unfortunate.
Bonet, who is also Co-Chair, Open Budget, Open Government Partnership in the state, argued that some of the MDAs to where the allocation for the Human Services ministry were moved did not have the mandate to implement such interventions.
“This is a gross contravention of the law that the Kaduna State House of Assembly itself passed restricting MDAs to only their mandates and approved work-plans.
“I am afraid that this development will cause a serious setback in the implementation of the 2021 budget in Kaduna State.
“Could this be a typing or formatting error? I do not want to believe this is deliberate.
“One could assume it is deliberately done to sabotage government’s efforts or a personal vendetta being carried-out against the leadership of the ministry,’’ he said.
Confirming Bonet’s claim, the budget document obtained by NAN shows that the ministry’s capital allocations for 2021 have been moved to other MDAs.
The document showed that the N200 million Kaduna State Women Empowerment Fund, under the mandate of the ministry was moved to the Planning and Budget Commission.
It also showed that the N10 million earmarked for Creative Arts and Culture under the ministry was moved to the Ministry of Business, Innovation and Technology.
The approved budget document equally showed that all the remaining budgetary allocation for capital interventions in the ministry had been moved to the Kaduna State Community and Social Development Agency. (NAN)
No Fewer than 34 states in the country failed to honour invitation to attend the just-concluded 35th Enugu International Trade Fair.
Reports says that only the Federal Capital Territory (FCT), Abuja; Ebonyi State and the host state, Enugu State, graced the 11-day international goods, services and idea showcasing fiesta.
The fair, which began on April 5 and ended on Monday, April 15, was themed: “Promoting made-in-Nigeria products for global competitiveness.
”Reacting, the Director-General of Enugu Chamber of Commerce, Mr Uche Mbah, said that the chamber followed due diligence in the invitation of all states to the fair.
Mbah noted that official letters were sent and official follow-up on the letters were made to ensure their presence and availability.
According to him, “we did everything to get them to add colour and increase the showcasing of products from different parts of the country and their investment viability.
“We did put in spirited efforts to see that all states participated, as most of them do previously.
“But it is unfortunate that many did not respond after receiving official letters, phone calls and interpersonal follow-ups were made.
“We got clear assurances from Kano State but they did not show up.
“We pushed harder to get Abia State but in the end, we were told that the governor did not approve,” he said.
Reports says that over 100 organisations were at the fair, which included: over 50 private companies as well as over 45 Federal and State government ministries, agencies and departments. (NAN)
The National Bureau of Statistics (NBS) says Nigeria’s headline inflation rate increased to 33.20 per cent in March 2024.
The NBS said this in its Consumer Price Index (CPI) and Inflation Report for March, which was released in Abuja on Monday.
According to the report, the figure is 1.50 per cent points higher compared to the 31.
It said on a year-on-year basis, the headline inflation rate in March 2024 was 11. 16 per cent higher than the rate recorded in March 2023 at 22.04 per cent.
In addition, the report said, on month-on-month basis, the headline inflation rate in March 2024 was 3.02 per cent, which was 0.10 per cent lower than the rate recorded in February 2024 at 3.12 per cent.
“This means that in March 2024, the rate of increase in the average price level is less than the rate of increase in the average price level in February 2024.”
The report attributed the increase in the headline index for March 2024 on a year-on-year basis and month-on-month basis to increase in some goods and services at the divisional level.
It said these increases were observed in food and non-alcoholic beverages, housing, water, electricity, gas, and other fuel, clothing and footwear, and transport.
Others, it said, were furnishings, household equipment and maintenance, education, health, miscellaneous goods and services, restaurants and hotels, alcoholic beverage, tobacco and kola, recreation and culture, and communication.
It said the percentage change in the average CPI for the 12 months ending March 2024 over the average of the CPI for the previous corresponding 12-month period was 27.13 per cent.
“This indicates a 6.76 per cent increase compared to 20.37 per cent recorded in March 2023”, it said.
The report said the food inflation rate in March 2024 increased to 40.01 per cent on a year-on-year basis, which was 15.56 per cent higher compared to the rate recorded in March 2023 at 24.45 per cent.
“The rise in food inflation on a year-on-year basis is caused by increases in prices of Garri, Millet, Akpu (uncooked fermented, which are under bread and cereals class), Yam Tuber, and Water Yam.
“Others are Dried Fish Sadine, Mudfish Dried, Palm Oil, Vegetable Oil, Beef Feet, Beef Head, Liver, Coconut, Water Melon, Lipton Tea, Bournvita, and Milo”, NBS said.
It said on a month-on-month basis, the food inflation rate in March was 3.62 per cent, which was a 0.17 per cent decrease compared to the rate recorded in February 2024 at 3.79 per cent.
“The fall in food inflation on a month-on-month basis was caused by a decrease in the average prices of Guinea corn flour, Plantain Flour etc (under Bread and Cereals class); Yam, Irish Potato, and CocoYam.
“Others are Titus fish, Mudfish Dried, Lipton, Bournvita, and Ovaltine”, it said.
The report said that “all items less farm produce and energy’’ or core inflation, which excludes the prices of volatile agricultural produce and energy, stood at 25.90 per cent in March on a year-on-year basis.
“This increased by 6.26 per cent compared to 19.63 per cent recorded in March 2023.’’
“The exclusion of the PMS is due to the deregulation of the commodity by removal of subsidy.”
It said the highest increases were recorded in prices of bus journey within the city, actual and imputed rentals for housing, consultation fee of a medical doctor, etc.
The NBS said on a month-on-month basis, the core inflation rate was 2.54 per cent in March 2024.
“This indicates a 0.37 per cent increase compared to what was recorded in February 2024 at 2.17 per cent.”
“The average 12-month annual inflation rate was 22.26 per cent for the 12 months ending March 2024, this was 5.04 per cent points higher than the 17.22 per cent recorded in March 2023”, it said.
The report said on a year-on-year basis in March 2024, the urban inflation rate was 35.18 per cent, 12.11 per cent higher compared to the 23.07 per cent recorded in March 2023.
The report said on a year-on-year basis in March 2024, the rural inflation rate was 31.45 per cent, which was 10.37 per cent higher compared to the 21.09 per cent recorded in March 2023.
“On a month-on-month basis, the rural inflation rate was 2.87 per cent, which decreased by 0.20 per cent compared to February 2024 at 3.07 per cent’’, it said.
On states’ profile analysis, the report showed that in March, all items inflation rate on a year-on-year basis was highest in Kogi at 39.97 per cent, followed by Bauchi at 38.34 per cent, and Kwara at 38.10 per cent.
It, however, said the slowest rise in headline inflation on a year-on-year basis was recorded in Borno at 25.78 per cent, followed by Benue and Taraba at 28.12 per cent, and Katsina at 28.32 per cent.
The report, however, said in March 2024, all items inflation rate on a month-on-month basis was highest in Zamfara at 3.90 per cent, followed by Abia at 3.89 per cent, and Ondo at 3.75 per cent.
“Borno at 1.46 per cent, followed by Yobe at 1.84 per cent and Adamawa at 1.85 per cent recorded the slowest rise in month-on-month inflation”, NBS said.
The report said on a year-on-year basis, food inflation was highest in Kogi at 48.46 per cent, followed by Kwara at 46.18 per cent, and Akwa Ibom at 45.18 per cent.
“Nasarawa at 33.76 per cent, followed by Borno at 34.28 per cent and Bauchi at 34.38 per cent recorded the slowest rise in food inflation on a year-on-year basis’’, it said.
The report, however, said on a month-on-month basis, food inflation was highest in Abia at 5.17 per cent, followed by Cross River at 5.14 per cent, and Bayelsa at 4.75 per cent.
“Cross River stood at 1.59 per cent, followed by Yobe at 2.08 per cent and Adamawa at 2.12 per cent, recorded the slowest rise in inflation on a month-on-month basis”, it said. (NAN)
The Naira on Friday experienced huge appreciation at the official market, trading at N1,142.38 to the dollar.
Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the Naira gained N88.
23.This represents a 7.16 per cent gain when compared to the previous trading date on Monday, April 8, exchanging at N1,230.
61 to a dollar before the Sallah holiday.The total daily turnover increased to $281.34 million on Friday up from $125.55 million recorded on Monday.
Meanwhile, at the Investor’s and Exporter’s (I&E) window, the Naira traded between N1,265 and N1,100 against the dollar.
Economic experts have continued to praise both fiscal and monetary policies of President Bola Tinubu’s administration responsible for the steady Naira appreciation.
The CBN, during its policy meetings held in February and March, implemented a total of 600 basis points in interest rate increases.
This helped tackle dollar scarcity, reduced volatility, and decreased reliance on parallel markets. (NAN)
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