Politics
Budget: Pres Buhari writes NASS to borrow $29.96bn external loan
President Buhari today forwarded a letter to the National Assembly requesting legislative approval for external borrowing plan of $29.960 billion to execute key infrastructural projects across the country between 2016 and 2018.
The president also requested for virement of N180.8 billion in the 2016 budget for provision of needed votes for some critical sectors across the 36 states of the federation and the FCT. President Buhari made the requests in two separate letters addressed to Senate President Bukola Saraki and Speaker of the House of Representatives, Yakubu Dogara.
The president, in the external borrowing plan, explained that targeted projects cuts across all sectors with special emphasis on infrastructure, agriculture, health, education, water supply, growth and employment generation. President Buhari in the letter, stated that the cost of the projects and programmes under the borrowing (rolling) plan is $29.960 billion. This is made up of proposed projects and programmes loan of $11.274 billion, Special National Infrastructure projects $10.686 billion, Euro bonds of $4.5 billion and Federal Government budget support of $3.5 billion.
He explained further that the loan was very necessary in view of the serious infrastructure deficit in the country. He said the country had huge infrastructure deficit and enormous financial resources required to fill the gap in the face of dwindling resources.
“This is in addition to the inability of our annual budgetary provisions to bridge the deficit. It has become necessary to resort to prudent external borrowing to bridge the financing gap. This will largely be applied to key infrastructure projects namely power, railway and roads among others,” he said.
Buhari said the N180 billion would be moved from monies already appropriated for special intervention programmes both recurrent and capital for funding of critical recurrent and capital items.
The letter reads in part: “In the course of implementing the 2016 Appropriation Act, several MDAs have presented issues pertaining to salary shortfalls, the settlement of part of which has led to the depletion of the Public Service Wage Adjustment. This Vote, which had a provision of N33,597,400,000, now has a balance of N2, 758,296,000. The provision for NYSC in the 2016 budget is inadequate to cater for the number of corps members to be mobilised this year. In fact, an additional N8.5 billion is required to cover the backlog of 129,469 corps members who are due for call-up but would otherwise be left out till next year due to funding constraints. Similarly, the provision for meal subsidy for the Unity Colleges is inadequate for the number of students in the schools. Due to the devaluation of the Naira, the budgetary provisions for the foreign missions are no longer sufficient to cover all their costs.”
In another letter dated October 24th, President Buhari also requested the National Assembly to approve the virement of funds appropriated for special intervention (recurrent) and special intervention (capital) to fund some critical recurrent and capital items.
According to him, the reasons for the request for virement, include shortfalls in provisions for personnel costs; inadequate provision ab initio for some items like the amnesty programme; continuing requirements to sustain the war against insurgency and depreciation of the naira.
“However, considering the fact that budgeted revenues are running behind target due to the renewed violence in the Niger Delta. Also there are no supplementary revenue sources, the most viable option for now is the virement of appropriated funds from heads or sub-heads that may not be fully utilised before the end of this fiscal year,” Buhari added.
Politics
BREAKING: President Tinubu scraps two ministries, merges others
President Bola Tinubu and Federal Executive Council have scrapped the Niger Delta Ministry and the Ministry of Sports Development.
Special Adviser to the president on Information and Strategy, Bayo Onanuga, disclosed this in a post on his official X handle on Wednesday.
He said the decisions were taken at the meeting of the FEC in Abuja.
According to him, “there will now be a Ministry of Regional Development to oversee all the regional development commissions, such as Niger Delta Development Commission, North West Development Commission, South West Development Commission, North East Development Commission”.
He also stated that the National Sports Commission will take over the role of the Ministry of Sports henceforth.
During the FEC meeting, the president also approved the merger of the Ministry of Tourism with the Ministry of Culture and Creative Economy.
Politics
Economic Hardship Spurs Youth Protests in Niger State
Rising Economic Hardship Ignites Youth Protests
Despite urgent government appeals, many youths in Niger State have taken to the streets, expressing their discontent over Nigeria’s worsening economic situation. The protests erupted on Monday, with participants voicing their frustrations through various means.
Protests Erupt Over Economic Challenges
The protesters filled the streets, chanting slogans critical of the government. Their placards bore powerful messages such as “Enough is Enough,” “Stop Anti-Masses Policies,” “We Are Not Slaves In Our Country,” “Hardship Is Unbearable,” and “Fuel Subsidy Must Be Back.”
Government’s Attempt to Prevent Protests
In a bid to quell the rising discontent, Governor Mohammed Bago had previously introduced several welfare measures aimed at alleviating the economic strain on residents. These included a N20,000 wage allowance for state and local government civil servants and the release of 50,000 metric tonnes of assorted grains to be sold at subsidized rates.
Youths Demand Immediate Economic Relief
The protesters’ demands highlight the urgent need for immediate and effective economic relief measures. The government’s efforts, though significant, have not fully addressed the pressing concerns of the citizens, particularly the youth who are most affected by the current economic policies.
The Call for Sustainable Economic Policies
The ongoing protests underscore a broader call for sustainable and inclusive economic policies. The youth of Niger State are advocating for long-term solutions that will ensure economic stability and improve living conditions for all citizens. Their actions signal a critical need for the government to engage with the populace and develop strategies that address the root causes of economic hardship.
Politics
Tinubu Promised to Drop ministers who fail to meet Nigerians’ expectations
President Bola Ahmed Tinubu has vows to sack any member of his cabinet who fails to meet the expectations of Nigerians.
In a recent declaration, President Bola Tinubu has reaffirmed his commitment to ensuring that his administration meets the high expectations of the Nigerian populace. As part of his accountability drive, President Tinubu has vowed to dismiss any ministers who fail to deliver on their mandates. This bold stance underscores his dedication to fostering a government that is both responsive and responsible.
President Tinubu’s Vision for Nigeria
A New Era of Accountability
President Tinubu’s administration is anchored on a promise of transparency, efficiency, and accountability. He envisions a Nigeria where government officials are held to the highest standards and are expected to deliver tangible results that improve the lives of citizens. This commitment is a critical component of his broader strategy to restore trust in the government and drive national development.
Strategic Goals and Objectives
The administration’s strategic goals include economic revitalization, enhanced security, infrastructural development, and improved social services. Each minister has been assigned specific targets aligned with these overarching objectives. The performance of these ministers will be closely monitored to ensure they are contributing effectively to the nation’s progress.
Key Areas of Focus
Economic Revitalization
Economic growth is at the heart of President Tinubu’s agenda. The administration aims to stimulate the economy through various measures, including fostering a conducive environment for business, promoting foreign investment, and supporting small and medium enterprises (SMEs). Economic policies are designed to create jobs, reduce poverty, and enhance the overall quality of life for Nigerians.
Enhanced Security
Security remains a top priority for the Tinubu administration. With the rise of insurgency, banditry, and other forms of criminality, ensuring the safety of citizens is paramount. The government is implementing comprehensive security reforms, increasing funding for security agencies, and leveraging technology to combat crime effectively.
Infrastructural Development
Infrastructure development is crucial for economic growth and social well-being. The administration is committed to modernizing Nigeria’s infrastructure, including roads, bridges, ports, and power supply. These improvements are expected to boost economic activities and improve the quality of life for citizens.
Improved Social Services
Access to quality education, healthcare, and other social services is essential for national development. The Tinubu administration is working to enhance these services, ensuring that they are accessible and affordable for all Nigerians. Reforms in the education and healthcare sectors are designed to produce long-term benefits for the nation’s human capital.
Performance Monitoring and Evaluation
Setting Clear Expectations
Each minister has been given clear and measurable performance targets. These targets are designed to ensure that every member of the cabinet is working towards the administration’s strategic goals. Regular evaluations will be conducted to assess progress and identify areas for improvement.
Accountability Mechanisms
To enforce accountability, the administration has established robust mechanisms for monitoring and evaluation. These include performance reviews, audits, and public reporting. Ministers are required to provide regular updates on their progress, and any failures to meet expectations will be addressed promptly.
The Implications of Dismissing Non-Performing Ministers
Reinforcing Accountability
By committing to dismiss non-performing ministers, President Tinubu is sending a strong message about the importance of accountability. This approach is expected to motivate ministers to perform at their best, knowing that their positions depend on their ability to deliver results.
Building Public Trust
Public trust in government is crucial for national stability and development. The dismissal of ineffective ministers will demonstrate the administration’s commitment to serving the people and addressing their needs. This transparency is likely to enhance public confidence in the government’s ability to lead the country effectively.
Ensuring Effective Governance
Effective governance requires that all members of the administration work collaboratively towards common goals. Removing non-performing ministers will ensure that the cabinet remains cohesive and focused on achieving the administration’s objectives. This will ultimately lead to better governance and improved outcomes for the country.
Challenges and Opportunities
Addressing Potential Challenges
While the commitment to dismiss non-performing ministers is commendable, it also presents challenges. These include the potential for political backlash and the difficulty of finding suitable replacements. The administration must navigate these challenges carefully to maintain stability and continuity.
Leveraging Opportunities
This policy also presents opportunities to introduce fresh perspectives and innovative ideas into the government. By bringing in new ministers with proven track records of success, the administration can drive forward its agenda more effectively. This approach can lead to dynamic governance and positive change.
Conclusion
President Bola Tinubu’s pledge to hold his ministers accountable represents a significant step towards achieving a more effective and responsive government. By setting clear expectations and committing to dismiss those who fail to meet them, the administration is reinforcing the importance of accountability and performance. This bold stance is expected to drive progress across key areas such as economic revitalization, security, infrastructure, and social services. As Nigeria moves forward, the commitment to accountability will play a crucial role in building a brighter future for all Nigerians.
News
There is Panic in Kano as Emirs Sanusi and Bayero announce to lead Jumaat Prayers in one mosque
Palpable fear has enveloped the ancient city of Kano as the two contending Emirs- the reinstated Emir Muhammadu Sanusi II and the dethroned Emir Aminu Ado Bayero, announced their plans to pray Jumaat prayers at the Palace Central Mosque.
STEADYGIST reports that already, Emir Malam Muhammadu Sanusi II, who resides in the Palace, and is closer to the contending Mosque, is expected to lead the two rakat Friday prayers.
Emir Muhammadu Sanusi II has been leading the Jumaat Prayers at the Palace Central Mosque as the Amir of the City, a statement explained.
The statement signed by Danburan Kano, Munir Sanusi Bayero, spelt out the movement of the reinstated Emir Muhammadu Sanusi II to the Mosque to lead the Jumaat Prayers.
The statement was issued Thursday night.
The statement by Danburan invited Kano residents to come and listen to the sermon to be delivered by the Emir Malam Muhammadu Sanusi II.
However, another statement from an aide of the deposed Emir, Alhaji Aminu Ado Bayero invited residents to join him at the Emir’s Palace Friday Mosque to observe the Juma’at prayer.
It stated that the movement to the Emir’s Palace Mosque starts at 12.30 pm.
However, the police are yet to comment on the development.
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