Tag: 2024 Budget

Northern Senators disown Ningi, okays 2024 budget

19 Northern Senators and the FCT operating under the aegis of Northern Senators Forum (NSF), have dissociated themselves from the comments made by Senator Abdul Ningi on the 2024 budget.

Recall that Ningi while granting an interview claimed that the Federal Government is operating two versions of the 2024 budget, a claim the Presidency denied on Sunday.

However, In a statement on Monday, the NSF declared that Ningi who happens to be the chairman of the forum, was on his own in the claims he made on the 2024 budget.

According to the forum, Ningi expressed “his personal opinion, sentiment and unfortunately skewed, incorrect and misleading.”

It noted that there was never a time where they held a meeting and mandated Senator Ningi to address the press on the said matter.

The statement further read, “That the budget was presented to the National Assembly during a joint session of the two chambers – Senate and House of Representatives by President Bola Ahmed Tinubu on November 29, 2023, in line with the requirement of the 1999 Constitution of the Federal Republic of Nigeria.

“The both chambers of the National Assembly diligently and meticulously debated, processed, and passed the proposal of the President. And satisfied with it, the President assented to it.

“It is clear that Mr President presented a budget of N27. 5 trillion to the National Assembly and the Assembly passed a budget of N28.7 trillion based on the need to make increases or decreases in the appropriations of the various MDAs which is in tandem with the legislative powers of the National Assembly in order to address critical projects and services across various sectors.

“Therefore, the statement made by Senator Ningi that the 2024 budget presented to the National Assembly by Mr President was the sum of N25 trillion was not correct and that should not be taken as the position of the Northern Senators Forum.

“That to the best of our knowledge there was no budget padding, whatsoever that was done to the 2024 budget. The assertion by Senator Ningi that certain things were done to the bill is his personal opinion. It is not the view of the generality of us, the Northern Senators.

“Hence, we strongly and collectively dissociate ourselves from his action which was grossly unparliamentary.

“That, we, the Northern Senators are solidly behind President Bola Ahmed Tinubu and we will continue to support him to succeed in addressing the challenges facing our country. Nigeria, at this particular moment does not need ethnic sentiments but collaborations of all to bring prosperity to our beloved country, the Federal Republic of Nigeria.

March 12, 2024
Senate approves N5.079trn 2024 budget for Nigeria Customs Service

The Senate has approved 2024 budget of N5.079 trillion for the Nigeria Customs Service (NCS) for the 2024 fiscal year.

The approval followed adoption of recommendations of report of Committee on Customs, Excise and Tariffs on Thursday at plenary.

Presenting the report, Chairman of the Committee, Sen. Jibrin Isah (APC-Kogi) said the total capital expenditure earmarked for the fiscal year was N706.43 billion for the 2024 financial year.

He said personnel cost stood at N225.99 billion, representing 31.99 per cent of the budget, while overhead cost was N111.76 billion, representing 15.82 per cent.

Isah said the cost for on-going capital projects stood at N148.42 billion, while new projects was earmarked for N220.26 billion, representing 52.19 per cent.

According to him, the service hopes on timely roll out of the 2024 fiscal policy measures to enable it commence implementation promptly.

He said that as part of its strategy, the National Single Window project that had lingered in past years was still being pursued for better process, harmonization, standardization and enhanced revenue generation.

Isah said the service intended to provide flexible windows for the perfection of illegally imported vehicles.

This, he said, was to ensure the collection of expected import duties and 25 per cent penalty charge from such category of transactions.

He said the measure would enable the government to realise more revenue.

“There will be intensive revenue recovery drive, using number of mechanisms.

“This shall include the Systems Audit, real time auditing, post clearance auditing, institution of revenue recovery committee and other intelligence gathering tools.

“The revised penalties and charges in the new Nigeria Customs Service Act, 2023 will improve the service’s revenue generation,’’ Isah said.

According to him, the service is looking forward to the area of cargo tracking in collaboration with relevant government agency, Shippers Council for effective monitoring of cargo, vessel movement to diversion or theft.

He also said that the decongestion of the nation’s ports was proposed towards efficient and effective port operations, adding that it was capable of yielding more revenue.

“The service’s anti-smuggling campaign, using all required operational guide as provided within the confines of Customs laws, will be intensified.

“This is to ensure that illicit trade that creates sphere for revenue leakages as well as economic sabotage are reduced to the barest minimum.” Isah said.

February 15, 2024
Kwara House of Assembly passes 2024 budget of N292.7bn

The Kwara House of Assembly on Wednesday in Ilorin passed the 2024 budget of N292.7 billion for the State.

This is against the N296.4 billion presented by Gov. AbdulRahman AbdulRazaq, representing 1.25 per cent decrease.

Under the passed Appropriation Bill, total Capital Expenditure now stands at N180.2 billion as against the N178.905 billion originally proposed by the executive.

Also, Recurrent Expenditure is N113.836 billion against N116.43 billion as presented by the governor.

The budget was passed after considering the Report of the House Committee on Finance and Appropriation at plenary.

The committee, which was chaired by Mrs Arinola Fatimah Lawal (APC/Ilorin East) submitted its report during Wednesday’s plenary.

In his submission, Speaker, Mr Yakubu Salihu, (APC/Ilesha/Gwanara) expressed optimism that the ”budget of economic expansion and collective prosperity” would go a long way in impacting positively on the lives of the people.

The speaker applauded the governor for ensuring January to December budget cycle as adopted by the Nigerian Governors Forum to engender accelerated implementation.

The speaker therefore directed the Clerk of the House, Alhaji Ahmed Kareem, to prepare a clean copy of the Appropriation Bill for the governor’s assent.

January 25, 2024
Sanwo-Olu signs Lagos 2024 budget with N21.74bn increase

Gov. Babajide Sanwo-Olu of Lagos State on Monday signed the 2024 Appropriation Bill into law, with an addition of N21.74 billion on the initial N2.246 trillion ‘Budget of Renewal’ presented.

Speaking during the signing ceremony at the Lagos House Ikeja, Sanwo-Olu said the budget size now stood at N2.267 trillion as against the initial N2.246 trillion.

“For the purpose of clarity, the approved budget size is N2,267,976,120,869; comprising N1,315,545,553,871 for capital expenditure and N952,430,566,998 for recurrent expenditure, a ratio of 58:42.

“The approved budget size is N21.74 billion higher than what was presented to the House of Assembly, due to additional provisions to enforce completion of ongoing projects,” he said.

The governor said the impact of the budget would be determined by the effectiveness of its implementation.

He said the government was determined to ensure that the goals and objectives of the budget were maximally realised, for the benefit of all residents and in line with the THEMES+ development agenda.

According to him, government will work assiduously to ensure the completion of ongoing projects and ensure the effective take off of new ones.

He urged all residents to play their roles in the successful implementation of the budget, committedly discharging their civic obligations as and when due.

“As a government, we will continue to be guided by the highest standards of transparency and accountability in the management of resources put in our care,” the governor said.

He thanked the Speaker of the Lagos State House of Assembly, Mr Mudashiru Obasa, and all members of the assembly for their cooperation and commitment, which ensured the expeditious consideration and passage of the budget.

Speaking earlier on behalf of the Speaker, the Deputy Speaker, Mrs Mojisola Meranda, said the budget had been thoroughly looked at by the assembly members and all necessities put in place.

Also speaking, the Commissioner For Economic Planning and Budget, Mr Ope George, said to put up an all encompassing budget, the ministry held fora at the five divisions (Ikorodu, Ikeja, Epe, Badagry, and Lagos Island) of the state.

George said that such fora helped to understand the needs from the different divisions, which assisted to guide the budget development.

January 16, 2024
Nasarawa govt to spend 20% of 2024 budget on education

The Nasarawa State Government has earmarked N40.16 billion to be spent in the education sector in 2024, representing 20 per cent of the total budget of N199,9 billion.

Mrs Munira Abdullahi, State Commissioner for Finance, Budget and Planning made the disclosure to newsmen during the 2024 budget breakdown on Friday in Lafia.

The Commissioner explained that education was the topmost priority of the state government which was why it allocated 20 per cent of its 2024 budget in compliance with UNESCO’s recommendation.

She added that the budget was made up of N113.123 billion as recurrent expenditure and N86.8 billion for capital expenditure.

The Commissioner said that the budget was expected to be funded from the following anticipated revenue sources; opening balance of N3.56 billion, statutory revenue allocation of N45 billion.

Others are; value added tax N27.50 billion, exchange gain of N7.50 billion, special allocation of N11 billion, refund from NNPC N20 billion and other revenue from FAAC N5.9 billion, with N43.3 billion from Internally Generated Revenue.

Abdullahi also said that the government had budgeted N500 million for the purchase Closed Circuit Television (CCTV) in Lafia the state capital to tackle security challenges.

She noted that the administration of Gov. Abdullahi Sule had adhered to international best practice in preparing the 2024 budget to ensure accountability, transparency and prudence in the management of public resources.

She, therefore, assured the people of the state of government’s determination to complete all ongoing projects.

Governor Sule signed the 2024 budget into law on December 29, with a commitment to consolidate on the gains so far recorded in the State.

January 12, 2024
Rivers Assembly asks Fubara to re-present 2024 budget

The Rivers House of Assembly on Tuesday, passed a resolution, urging Gov. Siminalayi Fubara to re-present the state 2024 budget and the medium term expenditure framework for consideration.

This followed the adoption of a motion by the Speaker, Mr Martin Amaewhu during the 90th plenary of the House at the legislators’ quarters, Port Harcourt.

Presenting the motion, Amaewhu said it was worrisome that the House had yet to receive the budget and the expenditure framework from the executive.

He said that the governor must present them for approval in line with the 1999 Constitution.

Recall Fubara had on December 13 presented a budget of N800 billion for 2024 to a four-man House of Assembly for approval.

The governor also signed the budget into law on December 14 barely 24 hours after it was presented to the lawmakers.

However, under the peace accord facilitated by President Bola Tinubu, Fubara was expected to re-present the budget as part of conditions to end the political crisis in the State.

January 9, 2024
Lagos Assembly passes inflated 2024 budget

The Lagos State House of Assembly on Friday passed a total of N2.268 trillion as the 2024 budget size of the state.

The House approved the passage of the budget following a unanimous voice by all the lawmakers present at the plenary presided over by the Speaker, Mr Mudashiru Obasa.

TheNewsGuru.com (TNG) reports the 2024 budget passed by the House for Lagos State was inflated by N22 billion.

Recall Gov6 Babajide Sanwo-Olu had on December 13, 2023 presented the 2024 budget proposal of N2.246 trillion to the assembly.

The Governor said the state anticipated internally generated revenue of N1.251 trillion and Federal Government allocations of N596.629 billion.

According to Obasa, the budget represents 58 per cent Capital Expenditure and 42 per cent Recurrent Expenditure.

“A bill for a law to authorise the issuance and appropriation of N952.43 billion from the Consolidated Revenue Fund for Recurrent Expenditure.

“Also N1.315 trillion from Development Fund for Capital Expenditure thereby totaling a budget size of N2.268 trillion for the year ending December 31, 2024.

“This estimate is hereby passed into law,” the Speaker raised on the floor as the budget report was read a third time.

Obasa, thereafter, commended the lawmakers for their dedication and cooperation at ensuring a quick passage of the Appropriation Bill.

He directed the Clerk of the House, Mr Olalekan Onafeko, to forward a clean copy of the approved budget to Governor Sanwo-Olu for assent.

Prior to its passage of the budget, the Chairman of the Joint-Committee on Budget and Finance, Mr Sa’ad-Lukman Olumoh, had presented a report containing some recommendations to the House.

Among the recommendations was that the Public Works Corporation, the Water Corporation and the state-owned tertiary institutions be placed on first-line charge to enable them perform optimally.

Obasa, during the presentation of the budget by the Governor, had urged the government to ensure a functional budget.

January 5, 2024
How we will achieve N5.1 trillion revenue target – Customs

The Nigeria Customs Service (NCS) has said it cannot afford to disappoint the country in realising its N5 trillion revenue target for 2024.

Comptroller General of Customs, Adewale Adeniyi, said this shortly after decorating some promoted officers of the service on Thursday, in Abuja.

Adeniyi stressed that achieving the revenue target of N5 trillion was feasible with the cooperation of the service key stakeholders and the dedication of its staff.

While urging the personnel to assiduously work hard to meet the target, the Customs CG noted the country was confronting daunting challenges and needed the support of everyone to overcome and move the economy forward.

He solicited the support of the National Assembly, specifically committees responsible for oversight functions on the service, in the discharge of duties and achieving the feat.

“We have a country, where economic operators, importers, exporters, depend a lot on our processes, on our commitment and on our efficiency for their own business.

“We cannot afford to disappoint these stakeholders. We cannot afford to disappoint the economy.

“We cannot afford to disappoint the president who has given us this opportunity and special privilege to be in charge of this critical aspect of our economic development,” Adeniyi said,

He charged the decorated officers to drive the process as some of its finest personnel, especially as some of them were beneficiaries of the service’s special promotion scheme for excellent performances of duties.

“My charge to all officers and men of the Nigeria customs service in 2024 is to realise the burden put on our shoulder and work assiduously together as a team to realise the mandate before us,” he said.

According to him, promotion assessment in the service would be continually reviewed for improvement.

He added that the promotion of the officers was a demonstration of his commitment to motivate staff and improve on their welfare.

“What we have just seen is an indication of our strong commitment to promoting issues of welfare and career progression among all our officers,” he said.

Responding on behalf of the decorated officers, Assistant Comptroller Ify Ogbodu assured the C-G of working hard to deliver the mandate of the service, particularly in enhancing service delivery, professionalism, diligence and adhering to principles of integrity.

Recall Adeniyi at the budget defence for 2024 had told the legislators that the customs revenue target for 2023 was N3.684 trillion but that only N2.959 trillion had been generated.

January 5, 2024
How we will fund Enugu 2024 budget – Gov Mbah

Gov. Peter Mbah of Enugu State has said that this year’s budget of N521.6 will be financed through the internally generated revenue (IGR).

Mbah also gave assurance that the budget would be implemented to the letter to address the lingering poverty and hardship occasioned by the subsidy removal.

He further said that the government would review workers’ welfare and purchasing power and called on them to be ready to put in their best.

He said this at a Mass organised at the Government House Chapel, Enugu, to mark the resumption of work in the New Year and pray for God’s blessings upon the state in the new year.

Mbah, who said that only about 12 per cent of the ₦521.6 billion budget would be funded through borrowing, appealed to the people for more support through tax payment and protection of public assets.

“Now that we have this ambitious budget, which we are committed to implementing to the fullest, it is also for our people to continue to support the government.

“We must make sure that we protect government’s assets. They are our assets.

“We should not vandalise or steal government’s assets because you would only be cutting your nose to spite your face when you do so as they belong to the people of Enugu State.

“We also encourage our people to pay their taxes and they will see what the tax money they pay is used for.

“A lot of this spending is going to come from mobilising domestic revenue. We do not intend to borrow much.

“In fact, we are only borrowing less than 13 per cent of the total budget size,” the governor said.

He also said that the sort of spending by the government would be capable of tackling unemployment.

“We are also going to deal with a lot of things as I have just mentioned, with more funds available to our civil servants and indeed to the entire people of Enugu State,” he said.

He affirmed that his administration would tackle the dearth of infrastructure, provide quality and affordable education system through the construction of 260 smart schools.

He said that the ongoing construction of 260 Type-2 primary healthcare centres across the state would help to ensure a healthy population of workforce for the much expected investment.

“From the over ₦414 billion capital expenditure, we are doing a number of radical things that we believe will impact the wellbeing and lives of the civil servants.

“We are going to be building 260 smart schools.

“What that translates to is that civil servants will no longer have a need to look for money to send their children to private schools.

“Each smart school also comes with teachers’ quarters.

“What that means is that the teachers will no longer have to bother about transportation or accommodation because these are all embedded in the smart schools that we are developing.

“In our mass housing effort, we plan to do 20,000 units in this same year’s budget,” the governor said.

January 3, 2024
2024 budget: Tinubu directs MDAs to provide monthly performance reports

President Bola Tinubu has signed the 2024 Appropriation Bill into law in keeping with his avowed commitment to maintaining a timeous, predictable and efficient budget cycle.

Tinubu assented to the bill at the State House on Monday, shortly after returning to Abuja from Lagos.

Speaking at the signing of the bill, the President assured Nigerians that the implementation of the budget would be efficiently pursued and vigorously monitored.

“All the institutional mechanisms shall be held to account in ensuring diligent implementation.

“All MDAs have been directed to take responsibility and provide monthly Budget Performance Reports to the Ministry of Budget and Economic Planning, which in turn shall ensure the veracity of such.

“The Minister of Finance and Co-ordinating Minister of the Economy shall hold regular reviews with the Economic Management Team and, in addition, I shall Chair periodic Economic Coordination Council meetings,” he said.

The top priorities of the 2024 budget of N28.7 trillion are defence and internal security, job creation, macro-economic stability, improved investment environment, human capital development, poverty reduction and social security.

The president emphasised that his commitment to enhance investment promotion while creating a rules-based society that favours no individual over the law begins with important reforms in the Nigerian judiciary, the funding for which is captured in the 2024 Appropriation Act.

“Funding the judiciary is a major element in our effort to support a just, rules-based society. Statutory transfer to the Judiciary has been increased from N165 billion to N342 billion,” the president said.

Some of the key estimates are capital expenditure N10 trillion; recurrent expenditure N8.8 trillion; debt service N8.2 trillion, and statutory transfers N1.7 trillion.

President of the Senate Godswill Akpabio and Speaker of the House of Representatives, Tajudeen Abbas, were present at the signing.

Other senior government officials present at the brief ceremony included Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Chief of Staff to the President, Femi Gbajabiamila; Minister of Budget and Economic Planning, Sen. Atiku Bagudu, and National Security Adviser, Nuhu Ribadu.

January 2, 2024