NEWS
Tinubu Restates Commitment to Strengthening Economy
….Tinubu Restates Commitment
President Bola Tinubu has restated his commitment to growing and strengthening Nigeria’s economy to improve the well-being of citizens.
Tinubu restated the commitment while declaring open a retreat on Fiscal Policy and Tax Reforms for senators in Ikot Ekpene on Thursday.
The President, who was represented by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, said that he would do all within his powers to engender better life for all Nigerians.
He said that it was unacceptable to him that 63 per cent of the Nigerian population and over 84 million people formed the multi dimensionally poor.
Tinubu said that he would pay close attention to building women and youths, adding that he hoped to achieve that with the cooperation and support of the national assembly.
“The antidote to this is that, this government is committed to doing all we can to make Nigerian economy grow and achieve rapid, sustained and inclusive growth.
“I cannot do this alone, there has to be team network and of course legislators. The senators have a key role to play.
“At this time, when we are considering the medium-term economic framework and fiscal sustainability programme.
“It is topical and timely that we should be having this retreat, because after now, we will be considering the budget,” he said.
Tinubu tasked the National Assembly to be committed and ensure speedy passage of the budget for assent before December 31.
Speaking earlier, the Senate president, Sen. Godswill Akpabio, charged his colleagues to meet the expectations and hopes of people who voted into office.
While urging senators to work for development of the country,Akpabio said he would ensure the senate does not work at cross-purposes with the executive arm of government.
Akpabio said the major objective of the retreat was to improve the knowledge of senators and build their technical capacity to generate concrete and consistent legislation that would promote peace and sustainable development in tandem with the renewed hope and eight-point agenda of the Tinubu/Shettima administration.
He added that the retreat was aimed at deepening participants’ knowledge of public expenditure management, fiscal policy and tax reforms.
“We must unbundle the Federal Government. We cannot continue to vote money year in, year out for primary school construction, primary education and the Federal government does not have a single primary school in this country.
“Why then do we vote billions of naira at the centre,” Akpabio said.
Akpabio also said poor regulation of mining of natural resources across different states ,without remittances to the centre ,was a major cause of insecurity in the country.
The senate president called for a long- term plan to improve on the Internally Generated Revenue of the country.
In his welcome remarks,Prof.Abubakar Sulaiman, Director -General, National Institute for Legislative and Democratic Studies (NILDS), organisers of the Retreat,said the focus on Fiscal Policy and Tax Reforms demonstrates the commitment of the National Assembly to align with fiscal and sectoral reforms.
He said the retreat would strengthen measures to further enhance legislature–executive relationships and address issues of insecurity, which have hampered meaningful development.
“Painstaking efforts have been made to ensure that all relevant topics that touch on the economy, globally and nationally were included.
“Also the eight-point agenda of the President, alignment of the legislative agenda with the programmes of study of executive, security as well as electoral reforms are major areas that will also be discussed,” Sulaiman said.
In his remarks, Gov. Umo Eno of Akwa Ibom ,said the retreat showed the commitment of the 10th Senate to making laws for the economic prosperity and well – being of Nigerians.
Eno ,who was represented by the Deputy Governor, Sen. Akon Eyakenyi, said already the state government had keyed into prudent management of scarce resources by undertaking people -oriented infrastructural projects.
“With a growing population, volatility of the crude oil market and the diminishing relevance of fossil fuels, it has become imperative for governments at all levels to explore alternative sources of public finance and adopt creative means of managing same in order to keep meeting their obligations to the people.
“Permit me to say that the objectives of this retreat align with the policy of prudent management and transparency by our administration. We are irrevocably committed to transparency and accountability.
“In line with this, we have made a full disclosure of the details of our budget implementation. We believe our people reserve the right to know all our efforts at developing the state.
“Our commitment to prudent management of scarce resources is already yielding fruits as we are undertaking people -oriented and infrastructural projects across the State,” he said. (NAN)
NEWS
Yuletide: Bode George Urges Tinubu to Reduce Petrol Price
Chief Bode George, a former Deputy National Chairman of the Peoples Democratic Party (PDP), has urged President Bola Tinubu to reduce the price of petrol to N300 per litre ,to make things easy for Nigerians during the festive season.
George, the Atona Oodua of Yorubaland, made this plea at an interactive session with newsmen on Wednesday in Lagos.
The price of Premium Motor Spirit, popularly known as petrol, is currently above N1,000 per litre.
According to the elder statesman,Nigerians are going through hardship, the President should give an order to reduce fuel price, specifying time frame the people will enjoy such window of relief.
He said that the federal government as well as well- meaning individuals and businesses could bear the cost of such price slash , to bring happiness to all Nigerians.
The PDP leader, who noted that December and January are special months , said that such gesture could start from the middle of December and run through January.
“I have been thinking, as a Nigerian, what can we do because the anger and the hunger are almost equal on the streets of Nigeria.
“What am I suggesting is that Mr President should sit down with his managers and give an order that from the middle of December to the end of January, the cost of petrol will be N300 per litre.
“The government can absorb the losses in the interest of the suffering people.
“If they (government) want others to contribute, let us know how much that is going to cost and ask people to donate, to bear the cost.
“We will be sending a lot of messages of happiness across the tribes and homes.
“Everybody in Nigeria will be happy because it will positively impact on this period of the year. It is a challenge and he (Tinubu) can do it.
“We need this in this December and January to put smiles on the faces of Nigerians, ” George, a PDP Board of Trustees (BOT) life member, said.
Advising the President to take further measures to bring relief to the people, he said that the gesture would crash prices of essential commodities and services for the benefit of all .
He said that government’s efforts should be concentrated on reducing high inflation rate, unemployment, poverty and youth restlessness in order to create a better future for Nigerians
Speaking on the recent presidential election in Ghana, George noted that Nigeria’s electoral system needed reforms to guard against electoral frauds and manipulations.
According to him, the nation will continue to grope for development if the system fails to encourage best candidates to emerge.
Stating that election must reflect the wishes of the people and be devoid of religious and tribal sentiments, George said that Ghana election should be a wake up call for Nigeria.
“INEC performance must improve. The commission must make sure that the voice of the people is heard in elections.
“Electoral offenders should be made to face the music and sent to jail. We must be very firm about due process, credibility and transparency in elections,” he said.
Urging the President to revisit resolutions in the 2014 Constitutional Conference, George said that the current constitution was not federal in principle and practice.
“We should not deceive ourselves, the constitution is a problem. It is a military constitution, it is not democratic,” he said.
George called on the National Assembly to ensure devolution of powers and electoral reforms that would do away with manual collation of election results and mandate electronic transmission of election results from polling units.
George disagreed with political watchers saying no vacancy in presidency in 2027.
On the dwindling strength of the former ruling party, George, who noted that all organisations had its ups and downs, said that selfish interests and disregard for party rules remained PDP’s major challenge.
He said that PDP could bounce back and win presidential election if the leadership decided to elevate national interest above selfish interests and adhere to the party’s constitution.
“We will tell ourselves some serious old truth. We messed ourselves up. ” he said.
Stating, however, that the PDP was not dead, George said that lack of justice, equity, fairness and the inability to adhere to the party’s zoning and rotational principle cost the party victory in 2023.
Calling on the party’s founding fathers alive to wake up and rescue the party, George said that Nigerians were still waiting for the former ruling party to take over power and put things right. (NAN)
NEWS
Tinubu Set for Groundbreaking of Renewed Hope City in Lagos
President Bola Tinubu, is set to perform the groundbreaking of 2,000 housing units of the Renewed Hope City in Ibeju Lekki, Lagos, in the next few weeks.
Mr Ahmed Dangiwa, Minister of Housing and Urban Development, announced this during an official assessment visit, on Wednesday in Lagos
Dangiwa said Lagos would represent the South-west, while the president would do that of the North-West in Kano, before doing that of the four other regions.
“Arrangements is already on ground, we have gotten sites, and work has commenced for 2000 houses in the Renewed Hope City that we intend to build in Ibeju-Lekki,” he said.
Towards achieving the set goal, the minister said the visiting team also paid a courtesy visit to Gov.
Babajide Sanwo-Olu to discuss area of collaboration between the federal and state governments.He disclosed that the federal and Lagos state governments had agreed to set up a Tripartite committee and ensure all the issues of concerns between the parties were resolved amicably for the benefit of all.
Earlier, the Minister embarked on an assessment visit of deplorable Federal Government buildings and assets across Lagos state in a bid to commence rehabilitation on them in a few months.
Dangiwa said the rehabilitation was necessary as the deplorable buildings posed a challenge and security concerns to the Lagos state government. (NAN)
NEWS
Gov. Alia Presents N550.1bn as 2025 Budget Estimate to Benue Assembly
Gov. Hyacinth Alia on Wednesday presented the sum of N550.1bn as the 2025 appropriation bill to the Benue State House of Assembly for consideration and passage into law.
Alia told the lawmakers that out of the total budget size, N175.4 billion is for recurrent expenditure while the N374.
7 billion is for capital expenditure.The governor said that the total estimate represented a 47.
5 per cent increment over the 2024 revised and approved figure of N373 billion.He stated that the appropriation bill tagged “Budget of Human Capital Development, Food Security, and Digital Economy” was to consolidate the gains made in 2024.
Alia further explained that the proposed recurrent expenditure of N175.
4 billion was 13.55 per cent higher than the previous year.According to him, budgeted capital expenditure of N374.7 billion represents a 71.5 per cent increment on the 2024 revised capital expenditure.
“The budget breakdown indicated that the sum of N212.2 billion, representing 38.52 per cent is for administration; N196.6 billion, representing 35.68 per cent is for the economy; law and justice will take N26.6 billion, representing 4.84 per cent while social welfare will gulp N115.5 billion, representing 20.96 per cent.
“We have the vision. We have the will. And most importantly, we have the people ready to work alongside us to turn this vision into reality.
“Together, we will build a state where every citizen has the opportunity to succeed, where food is plentiful, and where the digital economy opens new frontiers of opportunity for all,” he said.
The governor said the intention of the government was to stay within the limits of its recurring revenue to build the state without accruing unnecessary debts for generations unborn.
He, however, said that since the 2025 budget was a deficit one, it proposed a borrowing plan of a conservative sum of N26bn, representing a modest 4.7 per cent of the proposed aggregate expenditure for 2025.
“This is lower than the state’s debt-to-GDP ratio of 8.2 per cent which is within the benchmark of the 25 per cent debt sustainability threshold.
“Despite these favourable debt ratios, I want to reiterate that borrowing will only be considered as a last resort and for regenerative investment purposes,” he added.
Alia stated that the problem of Internally Displaced Persons (IDPs) remained a challenge, adding that they have reasonably improved their living conditions.
He said the Bureau of International Cooperation and Development has elicited substantial grants from donors, totalling N85bn. (NAN)