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Tag: Buhari

  • Buhari orders payment of Super Falcons’ allowances Thursday

    President Muhammadu Buhari has ordered the immediate payment of all outstanding allowances and bonuses being owed the Super Falcons, an official said on Wednesday in Abuja.

    The Falcons had earlier on Wednesday embarked on a protest march against the non-payment of their allowances by the Nigeria Football Federation (NFF).

    The footballers, who won the Women’s Africa Cup of Nations (AWCON) for the eighth time in Cameroon, had initially refused to leave their hotel rooms at Agura Hotel in Abuja.

    They had, upon returning from the competition which they won on Dec. 3, been waiting for the payment at the hotel where they were accommodated by the NFF.

    But on Wednesday they staged a protest march, carrying various placards with inscriptions along the roads between the National Assembly and the secretariat gate of the Presidential Villa.

    Speaking later, the Chief of Staff to President Buhari, Abba Kyari, told State House correspondents on Wednesday that the issue had been resolved.

    He said government had since directed appropriate authorities to settle the players’ allowances and bonuses.

    “The problem has been resolved. They have done us proud and we congratulated them. The Ministries of Sports and Finance have been directed to pay tomorrow (Thursday).

    “I don’t know the details of the arrears. But they have been directed to pay,” the presidential aide said.

    Kyari, who earlier spoke with the players on Wednesday during their protest march to the Aso Rock Villa gate, had urged them to return to their hotel rooms.

    He had assured them that their outstanding payment would be settled within 24 hours.

    The players, led by team captain Rita Chikwelu, had during the protest expressed their displeasure at the non-payment of their allowances and bonuses.

  • Full text of President Muhammadu Buhari’s 2017 Budget presentation speech

    President Muhammadu Buhari has presented the 2017 budget to the joint house of the National Assembly.

    Buhari presented a proposal of N7.298 trillion for the 2017 budget, which is a 20.4% increase over the 2016 estimate.

    The budget is themed: ‘Budget of Recovery and Growth’

    See text of the president’s speech below:

    SPEECH OF H.E. PRESIDENT MUHAMMADU BUHARI ON THE 2017 BUDGET OF RECOVERY AND GROWTH AT JOINT SESSION OF THE NATIONAL ASSEMBLY 14TH DECEMBER 2016

    It is my pleasure to present the 2017 Budget proposals to this distinguished Joint Assembly: the Budget of Recovery and Growth.

    We propose that the implementation of the Budget will be based on our Economic Recovery and Growth Strategy.

    The plan, which builds on our 2016 Budget, provides a clear road map of policy actions and steps designed to bring the economy out of recession and to a path of steady growth and prosperity.

    We continue to face the most challenging economic situation in the history of our nation. Nearly every home and nearly every business in Nigeria is affected one way or the other.

    Yet I remain convinced that this is also a time of great opportunity. We have reached a stage when the creativity, talents and resilience of the Nigerian people is being rewarded.

    Those courageous and patriotic men and women who believe in Nigeria are now seeing the benefits gradually come to fruition.

    I am talking about the farmers who today are experiencing bumper harvests, the manufacturers who substituted imported goods for local materials and the car assembly companies who today are expanding to meet higher demand.

    Distinguished members of National Assembly, for the record: F or many years we depended on oil for foreign exchange revenues. In the days of high oil prices, we did not save. We squandered.

    We wasted our large foreign exchange reserves to import nearly everything we consume. Our food, Our clothing, Our manufacturing inputs, Our fuel and much more.

    In the past 18 months when we experienced low oil prices, we saw our foreign exchange earnings cut by about 60 per cent, our reserves eroded and our consumption declined as we could not import to meet our needs.

    By importing nearly everything, we provide jobs for young men and women in the countries that produce what we import, while our own young people wander around jobless.

    By preferring imported goods, we ensure steady jobs for the nationals of other countries, while our own farmers, manufacturers, engineers, and marketers, remain jobless.

    I will stand my ground and maintain my position that under my watch, that old Nigeria is slowly but surely disappearing and a new era is rising in which we grow what we eat and consume what we make.

    We will CHANGE our habits and we will CHANGE Nigeria.

    By this simple principle, we will increasingly grow and process our own food, we will manufacture what we can and refine our own petroleum products.

    We will buy ‘Made in Nigeria’ goods. We will encourage garment manufacturing and Nigerian designers, tailors and fashion retailers.

    We will patronise local entrepreneurs. We will promote the manufacturing powerhouses in Aba, Calabar, Kaduna, Kano, Lagos, Nnewi, Onitsha, and Ota.

    From light manufacturing to cement production and petrochemicals, our objective is to make Nigeria a new manufacturing hub.

    Today, the demand of the urban consumer has presented an opportunity for the rural producer. Across the country, our farmers, traders and transporters are seeing a shift in their fortunes.

    Nigerians who preferred imported products are now consuming made in Nigeria products. From Argungu in Kebbi to Abakalaki in Ebonyi, rice farmers and millers are seeing their products move.

    We must replicate such success in other staples like wheat, sugar, soya, tomato and dairy products. Already, the Ministry of Agriculture and Rural Development, the Central Bank of Nigeria, the Organised Private Sector and a handful of Nigerian commercial banks, have embarked on an ambitious private sector-led N600 billion programme to push us towards self-sufficiency in three years for these products.

    I hereby make a special appeal to all State Governors to make available land to potential farmers for the purpose of this programme.

    To achieve self-sufficiency in food and other products, a lot of work needs to be done across the various value chains. For agriculture, inputs must be available and affordable.

    In the past, basic inputs, like the NPK fertiliser, were imported although key ingredients like urea and limestone are readily available locally.

    Our local blending plants have been abandoned. Jobs lost and families destroyed. I am pleased to announce today that on 2nd December 2016, Morocco and Nigeria signed an ambitious collaboration agreement to revive the abandoned Nigerian fertiliser blending plants.

    The agreement focuses on optimising local materials while only importing items that are not available locally.

    This programme has already commenced and we expect that in the first quarter of 2017, it will create thousands of jobs and save Nigeria 200 million dollars of foreign exchange and over N60 billion in subsidy.

    We must take advantage of current opportunities to export processed agricultural products and manufactured goods.

    Let it not be lost on anyone that the true drivers of our economic future will be the farmers, small and medium sized manufacturers, agro-allied businesses, dressmakers, entertainers and technology start-ups.

    They are the engine of our imminent economic recovery. And their needs underpin the Economic Recovery and Growth Plan.

    Let me, Mr. Senate President, Right Hon. Speaker, here acknowledge the concerns expressed by the National Assembly and, in particular, acknowledge your very helpful Resolutions on the State of the Economy, which were sent to me for my consideration.

    The Resolutions contained many useful suggestions, many of which are in line with my thinking and have already been reflected in our Plan. Let me emphasise that close cooperation between the Executive and the Legislature is vital to the success of our recovery and growth plans.

    Permit me to briefly outline a few important features of the Plan. The underlying philosophy of our Economic Recovery and Growth Plan is optimising the use of local content and empowering local businesses.

    The role of Government must be to facilitate, enable and support the economic activities of the Nigerian businesses as I earlier mentioned.

    Fiscal, monetary and trade policies will be fully aligned and underpinned by the use of policy instruments to promote import substitution. Government will however at all times ensure the protection of public interest.

    First we clearly understand the paradox that to diversify from oil we need oil revenues. You may recall that oil itself was exploited by investment from agricultural surpluses.

    We will now use oil revenues to revive our agriculture and industries. Though we cannot control the price of crude oil, we are determined to get our production back to at least 2.2 million barrels per day.

    Consistent with the views which have also been expressed by the National Assembly, we will continue our engagement with the communities in the Niger Delta to ensure that there is minimum disruption to oil production.

    The National Assembly, State and Local Governments, Traditional Rulers, Civil Society Organisations and Oil Companies must also do their part in this engagement. We must all come together to ensure peace reigns in the Niger Delta.

    In addition, we will continue our ongoing reforms to enhance the efficiency of the management of our oil and gas resources.

    To this effect, from January 2017, the Federal Government will no longer make provision for Joint Venture cash-calls. Going forward, all Joint Venture operations shall be subjected to a new funding mechanism, which will allow for Cost Recovery.

    This new funding arrangement is expected to boost exploration and production activities, with resultant net positive impact on government revenues which can be allocated to infrastructure, agriculture, solid minerals and manufacturing sectors.

    I earlier mentioned our ambitions for policy harmonisation. But we all know that one of the peculiar problems of our environment is execution. This phenomenon affects both government carrying out its own functions and the innumerable bureaucratic hurdles in doing business.

    To this end, I will be issuing some Executive Orders to ensure the facilitation and speeding up of government procurements and approvals. Facilitation of business and commerce must be the major objective of government agencies.

    Government must not be the bottle neck. Additionally, these Executive Orders will widen the scope of compliance with the Fiscal Responsibility Act by Federal Government owned entities and promote support for local content in Ministries, Department and Agencies.

    The Executive will soon place before the National Assembly proposals for legislation to reduce statutorily mandated minimum times for administrative processes in order to speed up business transactions.

    In addition, I have established the Presidential Enabling Business Council, chaired by the Vice President with a mandate to make doing business in Nigeria easier and more attractive. Getting approvals for business and procurements will be simplified and made faster.

    In 2017, we will focus on the rapid development of infrastructure, especially rail, roads and power. Efforts to fast-track the modernisation of our railway system is a priority in the 2017 Budget.

    In 2016, we made a lot of progress getting the necessary studies updated and financing arrangements completed.

    We also addressed some of the legacy contractor liabilities inherited to enable us to move forward on a clean slate.

    Many of these tasks are not visible but are very necessary for sustainability of projects. Nigerians will soon begin to see the tangible benefits in 2017.

    We also have an ambitious programme for growing our digital platforms in order to modernise the Nigerian economy, support innovation and improve productivity and competitiveness.

    We will do this through increased spending on critical information technology infrastructure and also by promoting policies that facilitate investments in this vital sector.

    During 2016, we conducted a critical assessment of the power sector value chain, which is experiencing major funding issues. Although Government, through the CBN and other Development Finance Institutions has intervened, it is clear that more capital is needed.

    We must also resolve the problems of liquidity in the sector. On its part, Government has made provisions in its 2017 Budget to clear its outstanding electricity bills. This we hope, will provide the much needed liquidity injection to support the investors.

    In the delivery of critical infrastructure, we have developed specific models to partner with private capital, which recognise the constraints of limited public finances and incorporate learning from the past.

    These tailor-made public private partnerships are being customised, in collaboration with some global players, to suit various sectors, and we trust that, the benefits of this new approach will come to fruition in 2017.

    Fellow Nigerians, although a lot of problems experienced by this Administration were not created by us, we are determined to deal with them.

    One of such issues that the Federal Government is committed to dealing with frontally, is the issue of its indebtedness to contractors and other third parties.

    We are at an advance stage of collating and verifying these obligations, some of which go back 10 years, which we estimate at about two trillion naira. We will continue to negotiate a realistic and viable payment plan to ensure legitimate claims are settled.

    2016 Budget Performance

    In 2016, the budget was prepared on the principles of zero based budgeting to ensure our resources were prudently managed and utilised solely for the public good.

    This method was a clear departure from the previous incremental budgeting method. We have adopted the same principles in the 2017 Budget.

    Distinguished members of the National Assembly may recall that the 2016 Budget was predicated on a benchmark oil price of 38 dollars per barrel, oil production of 2.2 million barrels per day and an exchange rate of N197 to the dollar.

    On the basis of these assumptions, aggregate revenue was projected at N3.86 trillion while the expenditure outlay was estimated at N6.06 trillion.

    The deficit of N2.2 trillion, which was about 2.14 per cent of GDP was expected to be mainly financed through borrowing.

    The implementation of the 2016 Budget was hampered by the combination of relatively low oil prices in the first quarter of 2016, and disruptions in crude oil production which led to significant shortfalls in projected revenue.

    This contributed to the economic slow-down that negatively affected revenue collections by the Federal Inland Revenue Service and the Nigerian Customs Service.

    As at 30 September 2016, aggregate revenue inflow was N2.17 trillion or 25 per cent less than prorated projections.

    Similarly, N3.58 trillion had been spent by the same date on both recurrent and capital expenditure. This is equivalent to 79 per cent of the prorated full year expenditure estimate of N4.54 trillion as at the end of September 2016.

    In spite of these challenges, we met both our debt service obligations and personnel costs. Similarly, overhead costs have been largely covered.

    Although capital expenditure suffered as a result of project formulation delays and revenue shortfalls, in the five months since the 2016 Budget was passed, the amount of N753.6 billion has been released for capital expenditure as at the end of October 2016.

    It is important to note that this is one of the highest capital releases recorded in the nation’s recent history.

    In fact, it exceeds the aggregate capital expenditure budget for 2015.

    Consequently, work has resumed on a number of stalled infrastructure projects such as the construction of new terminals at the country’s four major airports; numerous major road projects; key power transmission projects; and the completion of the Kaduna – Abuja railway to mention a few.

    We remain resolute in our commitment to the security of life and property nationwide. The courageous efforts and sacrifices of our heroes in the armed forces and para-military units are clear for all to see.

    The gradual return to normality in the North East is a good example of the results. Our resolve to support them is unwavering.

    Our spending in the 2016 fiscal year focused on ensuring these gallant men and women are properly equipped and supported. We will continue to prioritise defence spending till all our enemies, within and outside, are subdued.

    Stabilisation of sub-national government finances remains a key objective in our plans to stimulate the economy.

    In June 2016, a conditional Budget Support Programme was introduced, which offered State Governments N566 billion to address their funding shortfalls. To participate, State Governments were required to subscribe to certain fiscal reforms centred around transparency, accountability and efficiency.

    For example, States as part of this programme were required to publish audited accounts and introduce biometric payroll systems with the goal of eliminating ghost workers.

    Our efforts on cost containment have continued throughout the year. We have restricted travel costs, reduced board members’ sitting allowances, converted forfeited properties to Government offices to save on rent and eliminated thousands of Ghost workers.

    These, and many other cost reduction measures will lead to savings of close to N180 billion per annum to be applied to critical areas including health, security and education.

    2017 Budget Priorities

    Let me now turn to 2017 Budget. Government’s priorities in 2017 will be a continuation of our 2016 plans but adjusted to reflect new additions made in the Economic Recovery and Growth Plan.

    In order to restore growth, a key objective of the Federal Government will be to bring about stability and greater coherence between monetary, fiscal and trade policies while guaranteeing security for all.

    The effort to diversify the economy and create jobs will continue with emphasis on agriculture, manufacturing, solid minerals and services. Mid- and Down-stream oil and gas sectors are also key priority areas.

    We will prioritise investments in human capital development especially in education and health, as well as wider social inclusion through job creation, public works and social investments.

    Our plans also recognise that success in building a dynamic, competitive economy depends on construction of high quality national infrastructure and an improved business environment leveraging locally available resources.

    To achieve this, we will continue our goal of improving governance by enhancing public service delivery as well as securing life and property.

    The 2017 Budget: Assumptions, Revenue Projections and Fiscal Deficit

    Distinguished members of the National Assembly, the 2017 Budget is based on a benchmark crude oil price of 42.5 dollars per barrel; an oil production estimate of 2.2 million barrels per day; and an average exchange rate of N305 to the dollar.

    Based on these assumptions, aggregate revenue available to fund the federal budget is N4.94 trillion.

    This is 28 per cent higher than 2016 full year projections. Oil is projected to contribute N1.985 trillion of this amount.

    Non-oil revenues, largely comprising Companies Income Tax, Value Added Tax, Customs and Excise duties, and Federation Account levies are estimated to contribute N1.373 trillion.

    We have set a more realistic projection of N807.57 billion for Independent Revenues, while we have projected receipts of N565.1 billion from various Recoveries. Other revenue sources, including mining, amount to N210.9billion.

    With regard to expenditure, we have proposed a budget size of N7.298trillion which is a nominal 20.4 per cent increase over 2016 estimates. 30.7 per cent of this expenditure will be capital in line with our determination to reflate and pull the economy out of recession as quickly as possible.

    This fiscal plan will result in a deficit of N2.36 trillion for 2017 which is about 2.18 per cent of GDP. The deficit will be financed mainly by borrowing which is projected to be about N2.32 trillion.

    Our intention is to source N1.067 trillion or about 46 per cent of this borrowing from external sources while, N1.254 trillion will be borrowed from the domestic market.

    Expenditure Estimates

    The proposed aggregate expenditure of N7.298 trillion will comprise:

    1. Statutory transfers of N419.02 billion;
    2. Debt service of N1.66 trillion;

    iii. Sinking fund of N177.46 billion to retire certain maturing bonds;

    1. Non-debt recurrent expenditure of N2.98trillion; and
    2. Capital expenditure of N2.24 trillion (including capital in Statutory Transfers).

    Statutory Transfers

    We have increased the budgetary allocation to the Judiciary from N70 billion to N100 billion. This increase in funding is further meant to enhance the independence of the judiciary and enable them to perform their functions effectively.

    Recurrent Expenditure

    A significant portion of recurrent expenditure has been provisioned for the payment of salaries and overheads in institutions that provide critical public services. The budgeted amounts for these items are:

    • N482.37 billion for the Ministry of Interior;
    • N398.01 billion for Ministry of Education;
    • N325.87 billion for Ministry of Defence; and
    • N252.87 billion for Ministry of Health.

    We have maintained personnel costs at about N1.8 trillion.

    It is important that we complete the work that we have started of ensuring the elimination of all ghost workers from the payroll.

    Accordingly, adequate provision has been made in the 2017 Budget to ensure all personnel that are not enrolled on the Integrated Personnel Payroll Information System platform are captured.

    We have tasked the Efficiency Unit of the Federal Ministry of Finance to cut certain overhead costs by 20 pe5r cent We must eliminate all non-essential costs so as to free resources to fund our capital expenditure.

    Capital Expenditure

    The size of the 2017 capital budget of N2.24 trillion (inclusive of capital in Statutory Transfers), or 30.7 per cent of the total budget, reflects our determination to spur economic growth. These capital provisions are targeted at priority sectors and projects.

    Specifically, we have maintained substantially higher allocations for infrastructural projects which will have a multiplier effect on productivity, employment and also promote private sector investments into the country.

    Key capital spending provisions in the Budget include the following:

    • Power, Works and Housing: N529billion;
    • Transportation: N262 billion;
    • Special Intervention Programmes: N150 billion.
    • Defence: N140 billion;
    • Water Resources: N85 billion;
    • Industry, Trade and Investment: N81 billion;
    • Interior: N63 billion;
    • Education N50 billion
    • Universal Basic Education Commission: N92 billion
    • Health: N51 billion
    • Federal Capital Territory: N37 billion;
    • Niger Delta Ministry: N33 billion; and
    • Niger Delta Development Commission: N61 billion;

    N100 billion has been provided in the Special Intervention programme as seed money into the N1 trillion Family Homes Fund that will underpin a new social housing programme.

    This substantial expenditure is expected to stimulate construction activity throughout the country.

    Efforts to fast-track the modernisation of our railway system will receive further boost through the allocation of N213.14 billion as counterpart funding for the Lagos-Kano, Calabar-Lagos,Ajaokuta-Itakpe-Warri railway, and Kaduna-Abuja railway projects.

    As I mentioned earlier, in 2016, we invested a lot of time ensuring the paper work is done properly while negotiating the best deal for Nigeria. I must admit this took longer than expected but I am optimistic that these projects will commence in 2017 for all to see.

    Given the emphasis placed on industrialization and supporting SMEs, a sum of N50 billion has been set aside as Federal Government’s contribution for the expansion of existing, as well as the development of new, Export Processing and Special Economic Zones.

    These will be developed in partnership with the private sector as we continue our efforts to promote and protect Nigerian businesses.

    Furthermore, as the benefits of agriculture and mining are starting to become visible, I have instructed that the Export Expansion Grant be revived in the form of tax credits to companies.

    This will further enhance the development of some agriculture and mining sector thereby bringing in more investments and creating more jobs.

    The sum of N20 billion has been voted for the revival of this programme.

    Our small- and medium-scale businesses continue to face difficulties in accessing longer term and more affordable credit. To address this situation, a sum of N15 billion has been provided for the recapitalisation of the Bank of Industry and the Bank of Agriculture.

    In addition, the Development Bank of Nigeria will soon start operations with 1.3 billion dollars focused exclusively on Small and Medium-Sized Enterprises.

    Agriculture remains at the heart of our efforts to diversify the economy and the proposed allocation to the sector this year is at a historic high of N92billion.

    This sum will complement the existing efforts by the Federal Ministry of Agriculture and CBN to boost agricultural productivity through increased intervention funding at single digit interest rate under the Anchor Borrowers Programme, commercial agricultural credit scheme and The Nigeria Incentive-Based Risk-Sharing System for Agricultural Lending.

    Accordingly, our agricultural policy will focus on the integrated development of the agricultural sector by facilitating access to inputs, improving market access, providing equipment and storage as well as supporting the development of commodity exchanges.

    Government realises that achieving its goals with regard to job creation, also requires improving the skills of our labour force, especially young people. We have accordingly made provision, including working with the private sector and State Governments, to establish and operate model technical and vocational education institutes.

    We propose with regard to healthcare to expand coverage through support to primary healthcare centres and expanding the National Health Insurance Scheme.

    The 2017 Budget estimates retains the allocation of N500 billion to the Special Intervention programme consisting of the Home-grown School Feeding Programme, Government Economic Empowerment programme, N-Power Job Creation Programme to provide loans for traders and artisans, Conditional Cash Transfers to the poorest families and the new Family Homes Fund (social housing scheme).

    The N-Power Programme has recently taken off with the employment of 200,000 graduates across the country, while the School Feeding Programme has commenced in a few States, where the verification of caterers has been completed

    As we pursue economic recovery, we must remain mindful of issues of sustainable and inclusive growth and development. The significant vote for the Federal Ministry of Water Resources reflects the importance attached to integrated water resource management. In this regard, many river-basin projects have been prioritised for completion in 2017.

    Similarly, the increased vote of N9.52 billion for the Federal Ministry of Environment (an increase of 92 per cent over the 2016 allocation) underscores the greater attention to matters of the environment, including climate change and leveraging private sector funding for the clean-up of the Niger Delta.

    Provision has also been made in these estimates for activities that will foster a safe and conducive atmosphere for the pursuit of economic and social activities.

    In this regard, the allocation for the Presidential Amnesty Programme has been increased to N65 billion in the 2017 Budget. Furthermore, N45 billion in funding has been provisioned for the rehabilitation of the North East to complement the funds domiciled at the Presidential Committee on the North East Initiative as well as commitments received from the multinational donors.

    Conclusion

    Mr. Senate President, Mr. Speaker, distinguished and honourable members of the National Assembly, I cannot end without commending the National Assembly for its support in steering our economy on a path of sustained and inclusive growth.

    This generation has an opportunity to move our country from an unsustainable growth model – one that is largely dependent on oil earnings and imports, to an economy that focuses on using local labour and local raw materials.

    We cannot afford to let this opportunity slip by. We must all put our differences aside and work together to make this country succeed. The people that voted us into these esteemed positions are looking to us to make a difference.

    To change the course of this nation, I have no doubt in my mind that by working together, we will put Nigeria back on the path that its founding fathers envisaged.

    This Budget, therefore, represents a major step in delivering on our desired goals through a strong partnership across the arms of government and between the public and private sectors to create inclusive growth.

    Implementation will move to centre-stage as we proceed with the process of re-balancing our economy, exiting recession and insulating it from future external and domestic shocks.

    I thank you all for your patience and patriotism

  • Buhari’s look shows how hungry the economy is- Cossy Orjiakor

    Nigeria’s queen of boobs, Cossy Orjiakor who is known to say things sloppily on social media, took to her Instagram page on Tuesday, December 13th, throwing a jab at President Buhari.

    In her post, she compares the president’s look in a certain picture to the appalling state of the Nigerian economy

    According to her: ”Our president is representing us well….. Just looking at him… his features reflects just how hungry and tired the Nigerian economy is. Pls pray for him to add just a little weight. So he can look more handsome and maybe our economy will get better and more robust. Hahahaha just jokes ooo.”

    Should we take Cossy serious? What do you think?

  • Gambia Poll: Buhari lacks moral rights to preach obedience – Fayose

    Gambia Poll: Buhari lacks moral rights to preach obedience – Fayose

    …says former President Goodluck Jonathan, President John Mahama more qualified to lead negotiations with Gambian leader, Yahya Jammeh to concede defeat

    Governor Ayodele Fayose of Ekiti State has described President Muhammadu Buhari’s involvement in the meeting with President Yahya Jammeh to persuade him to concede defeat as an aberration, saying; “A man like Buhari under whose free, fair and credible elections no longer exist lacks moral rights to preach obedience to democratic principles to anyone.”

    The governor said great Africans like former President Goodluck Jonathan, President John Mahama of Ghana and others who lost elections and conceded defeat were in the best position to intervene in Gambia and not Buhari who lost election three times and never conceded defeat.

    According to his Special Assistant on Public Communications and New Media, Lere Olayinka, Governor Fayose wondered what President Buhari, whose government is desperately moving Nigeria from a multi-party democracy to a one party State, would have told President Jammeh in Gambia.

    In his words: “with what happened in Rivers State last weekend, it is certain that votes of Nigerians will no longer be allowed to count as the APC cabal in the Presidential villa has now assumed the roles of INEC, allocating votes to their party and using security agents to force their will on the people.”

    Governor Fayose asked; “Did President Buhari face Jammeh and advised him to accept defeat the way he (Buhari) conceded defeat in 2003, 2007 and 2011 when violence was instigated and several people, including Youth Corp members were killed? Or did Buhari lecture Jammeh to take to democracy at gunpoint, which is now the norm in Nigeria?

    “How can Buhari, who has destroyed the legacy of free, fair and credible elections that was handed over to him, be the one to prevail on someone else to adhere to democratic principles?”

    He said Buhari should first remove the timber in his eyes before attempting to remove the toothpicks in other peoples’ eyes, describing the President as a physician who cannot heal himself but trying to heal others.

    The governor said even though President Jammeh behaved dishonourably by reneging on his initial promise to accept defeat, involvement of President Buhari in the meeting to persuade him to step down was the height of hypocrisy.

    The governor said that Nigerians are now more concerned with how to take back their country like the Gambians have done.

    “Nigerians are worried about the possibility of Buhari behaving like Jammeh in 2019 after he must have been defeated and that the international community may need a high-powered delegation to pilot his rampaging bull out of Nigerians chinashop,” he said.

  • BREAKING: UPDATE: Buhari presents N7.28 trillion Budget to NASS

    …Fixes:

    Oil benchmark price for $42.5 per barrel

    Daily crude oil production estimate at 2.2 million barrels per day

    Exchange rate pegged at N305 to the dollar

    Government to spend about N2.243 trillion on capital projects and N2.9 trillion as recurrent expenditure

    President Muhammadu Buhari has presented the 2017 budget to the joint house of the National Assembly.

    Buhari presented a proposal of N7.298 trillion for the 2017 budget, which is a 20.4% increase over the 2016 estimate.

    The budget is themed: ‘Budget of Recovery and Growth’

    While presenting the budget, Buhari assured that there will be no padding in the 2017 budget.

    “Nigeria is at a stage where the patience and resilience of its citizens are being tested due to the economic recession.”

    He admitted that the problems of sustaining policies is in the area of execution.

    He said the 2016 budget was hampered by low oil prices in the first quarter of the year.

    “I stand my ground that under my watch all Nigerians will slowly but surely grow. We will change our habits. We will grow businesses in Aba, Calabar, Lagos and others.

    “We are already working to make Nigeria self-sufficient in three years. To achieve this, a lot will need to be done. We will support local Nigerian businesses in order to promote import substitution.

    “Although we can’t control oil prices, we’re determined to have our high oil production level back.

    “2016 budget was based on zero budgeting method, the same will be employed in the 2017 budget. Despite the challenges with the 2016 budget, we met both our capital expenditures and debt commitments.

    “In 2017, we will focus on the development of infrastructure, especially rail, road and power. In 2017, we want to source 46% of our debts from outside Nigeria and get the rest from local sources.

    “We are increasing funding to the judiciary in order to allow them function even better.”

    However, details of the proposed budget showed that it was based on crude oil benchmark price of $42.5 per barrel, against the benchmark price of $38 per barrel used in the 2016 budget.

    Daily crude oil production estimate was put at about 2.2 million barrels per day, same as the figure in last year’s budget, while the exchange rate was put at N305 to the dollar as against N197 to the dollar in 2016.

    Further details of the proposed budget showed that government proposed to spend about N2.243 trillion on capital projects and N2.9 trillion as recurrent expenditure.

    The 2017 proposed capital and recurrent expenditures were higher than the N1.8 trillion and N2.65 trillion respectively provided in the 2016 Appropriation, representing about 15.44 ‎and 9.43 per cent respectively.

    About N1.66 trillion has been allocated for servicing of domestic debts, for which N1.3 trillion earmarked in the 2016 budget, with foreign debt expected to take about N175.9 billion as against N54.5 billion last year.

    Detailed analysis later…

     

     

     

  • Reps adopt MTEF as Buhari presents 2017 budget

    Reps adopt MTEF as Buhari presents 2017 budget

    The House of Representatives on Tuesday adopted the 2017 to 2019 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) as President Muhammadu Buhari presents the 2017 budget estimates to a joint session of National Assembly on Wednesday (today).

    The House fixed the exchange rate of Naira to a dollar at N350 as against the N290 recommended by the executive.

    The House also concurred on the oil benchmark of 42.50 dollar per barrel with a proposed daily production of 2.2 million barrels per day.

    Consequently, the House had mandated its joint committees on Finance, Appropriation, National Planning and Economic Development, Legislative Budget and Research and Aids, Loans and Debt Management to further scrutinise the document.

    Recall that President Buhari had on Oct. 4, forwarded a request to the National Assembly seeking for approval of the 2017 to 2019 MTEF and FSP.

    Moving the motion for the adoption of the MTEF/FSP, House Leader, Rep. Femi Gbajabiamila, said Section 11(2) of the Fiscal Responsibility Act, 2007, provides that “the MTEF shall be considered for approval with such modifications if any, as the National Assembly finds appropriate by a resolution of each House of the National Assembly”.

    He further noted that Section 11 (3) of the FRA, 2007, states that “the MTEF shall contain, among other things, a macro-economic framework setting out the macro-economic projections for the next three financial years.

    “The underlying assumptions for those projections and an evaluation and analysis of the macro-economic projections for the preceding three financial years”.

    He said that some analysts forecasts that the shortage of forex supply may push exchange rate to as high as N350 to the dollar in the official and N500 in the parallel markets.

    He recommended that “the budgeted exchange rate of N290 per dollar is unrealistic and should be moved to at N350 to encourage foreign capital inflows”.

    On crude oil, he said that “the proposed oil benchmark is 42.50 dollars per barrel with a daily production of 2.2million barrels per day.

    “Both seems to be realistic as oil is currently trading at about 50 dollar per barrel”.

    According to him, though there is a steady improvement in oil prices, the government has chosen to play safe and benchmark oil price at 42.50 dollars, 45 dollars and 50 dollars for 2017, 2018 and 2019.

    He explained that “with current price level of over 50 dollars per barrel and Nigeria’s current output at 1.9 million barrels per day, the estimates are conservative enough especially with OPEC output freeze last week”.

    He maintained that the revenue target of N4.169 trillion and total expenditure of N6.687 trillion were audacious to move the country out of recession.

    He said: “These are achievable only on effective combination of strong fiscal and monetary tools by government, increasing the tax base in the country.

    “Curtailing militancy in the Niger Delta and injecting back looted funds, diversification of the country’s revenue sources, controlled government spending and strong anti-leakage and anti-corruption drives.”

    He stated that GDP was projected to grow at 3.02 per cent in 2017, while inflation was expected to moderate to 12.92 per cent.

    Also consumption was projected to increase to N80.5 trillion.

    “However, GDP growth at end of third quarter, 2016 slowed to 2.24 per cent, while inflation rose to an all-time high of 18.3 per cent.

    “These budget growth levels in GDP and inflation are not achievable in 2017.”

    President Buhari is expected to present a proposed budget of N7.28 trillion for the year 2017 at a joint session of both chambers of National Assembly on Wednesday (today).

    The proposed budget represents an increase of ‎about 19.95 per cent over the 2016 Appropriation of N6.07 trillion.

     

  • In-photos: Buhari, other African leaders hold talks with Jammeh to step down

    President Muhammadu Buhari and other West African leaders, which includes presidents from Liberia, Ellen Johnson Sirleaf; Sierra Leone, Ernest Bai Koroma; Ghana, John Mahama on Tuesday had a meeting with Gambia’s President Yahya Jammeh at Gambia’s State House on the need to transfer power to President-elect Adama Barrow

  • Buhari sends delegation to victims of Madagali Bomb Blast in Adamawa

    A Presidential delegation led by the Special Adviser on Policy Development and Strategy, Alhaji Ibrahim Bapetel, visits Michika, Adamawa to console with government and victims of Madagali twin bomb blast.

    Presenting drugs, consumables and money to the victims at Michika General Hospital on Tuesday, Bapetel said President Muhammadu Buhari was concern with their plight.

    According to Bapetel, the president wants to assure you that his administration is committed to containing the insurgency.

    “Mr president has received with deep shock, the news of the unfortunate incident and immediately directed me to come and commiserate with you, identify with your plight and assess your health condition.”

    Receiving the items, the Principal Medical Officer of Michika Gerneral Hospital, Dr Tanko Bathuel, thanked the delegation and promised to utilise the drugs and other items donated judiciously.

    Also briefing the delegation, Regimental Medical Officer of 115 Battalion Michika, Lt. Abdul Saliu, said that five patients out of the 76 admitted in the hospital had died.

    According to him, the remaining ones are responding to treatment as eight of them have undergone major surgery.

    The Chairman of Madagali Local Government, Alhaji Yusuf Mohammed, who also briefed the delegation, thanked them for the gesture.

    Mohammed said that normalcy had returned to the area and the people were now going about their normal businesses.

    Reacting, one of the victims of the blasts, Sajoh Buba, thanked the delegation for the support.

    Buba also lauded other groups and organisations such as Military Medical Corps, NEMA and Red Cross for their support.

  • IPOB lamblasts Ngige for saying Buhari loves Ndigbo

    IPOB lamblasts Ngige for saying Buhari loves Ndigbo

    The Indigenous People of Biafra, IPOB, has slammed minister of labour, Chris Ngige over his recent claims that the South-East geopolitical zone has not being expunged from the scheme of things under the current administration.

    The group accused Ngige of running his mouth just to please his pay master in Abuja.

    Ngige had while speaking during the annual convention and 2016 graduation ceremony of Skill Acquisition Students of Bina Foundation, Enugu, said contrary to the statement purportedly made by Ohanaeze that Ndigbo were being excluded, the antecedents of Buhari showed that he loved Ndigbo.

    But IPOB, while reacting via a statement by its spokesman, Emmanuel Powerful, said people like Chris Ngige and other political jobbers feeding off the crumbs from the master’s table should be ashamed of themselves and know that the day of reckoning was fast approaching.

    He said, “Anybody or group of persons against the new found courage of Ohanaeze Ndigbo in supporting the quest for freedom for all must examine his or her conscience before offering an opinion.

    “This is the time to embolden the few good men left in Igboland not to pander to the interest of political vultures who have brought nothing tangible to the emancipation discourse championed by our leader mazi Nnamdi Kanu and IPOB members worldwide.

    “Our goal remains the attainment of absolute freedom in deed not just in mere words, for all oppressed peoples of Biafra and beyond.

    “We also commend the Ohaneze leadership for demonstrating the leadership charisma for once through out their period in office as executive in Igboland.

    “Again, as long as the Ohaneze Ndi Igbo and other groups and social cultural organizations in Biafraland remains on the side of the truth without fear or favour IPOB and its leadership will continue to support every of their initiatives aimed at liberating, the emancipation or promotion of our people.

    “We hope that other social cultural organizations and elders in Biafraland of Ijaw, Ishekiri, Anang, Ibibio, Kalabari, Opobo, Igala, Idoma, Ogoni, Urohobo, Igbanke etc will come out and toll the line with the recent statements made by Ohaneze Ndi Igbo towards the realization of God’s nation Biafra and the liberation of our people.

    “Until this sacred and divine mission is accomplished, IPOB worldwide will never rest’ so also our ordained leader and prophet of our time Mazi Nnamdi Kanu.”

  • Buhari, other African leaders storm Gambia, pressure Jammeh to step down

    Buhari, other African leaders storm Gambia, pressure Jammeh to step down

    President Muhammadu Buhari, his Liberian and Ghanaian counterparts, Ellen Johnson-Sirleaf and John Mahama, will on Tuesday, leave for Banjul to put diplomatic pressure on President Yahya Jammeh to transfer power to President-elect Adama Barrow.

    The UN Security Council made the plan known while briefing newsmen after a closed-door meeting by the 15 members on the political situation in The Gambia.

    Mr Juan Manuel De Linares, Deputy Permanent Representative of Spain, said the members of the council stood by their unanimous statement on Dec. 10 that Jammeh should commence the peaceful transfer of power to Barrow without further delay.

    “A delegation by the Special Representative of the UN Secretary-General to ECOWAS (Mohammed Ibn Chambas) and other ECOWAS and AU leaders will lead high-level delegation to Banjul tomorrow.

    “The delegation will include the President of Nigeria (Buhari), Liberia (Johnson-Sirleaf), Ghana (Mahama). These are respected presidents in West Africa and Africa,” Linares said.

    He, however, said that the council did not discuss any measure that would be taken should Jammeh refuse the entreaties.

    “Our priority is to support the high-level visit tomorrow and ensure the mission succeeds,” he said.

    He urged all parties in The Gambia to reject any form of violence and ensure peaceful transition of power in the West African country.

    Amb. Ismael Martins, Permanent Representative of Angola to the UN, also told the News Agency of Nigeria (NAN) that the high-level visit was an effort of the ECOWAS leaders.

    “The purpose of the visit of the ECOWAS leaders is to keep everybody in agreement to arrive at transfer of power in accordance to the rules of AU and ECOWAS.

    “There is a high-level delegation of Heads of State going to visit Gambia, comprising the President of Liberia as the Head of ECOWAS and other respected heads of state in the ECOWAS sub-region,” Martins said.

    In a statement on Saturday, the Security Council “strongly condemned the outgoing Gambian president’s rejection of the official election results proclaimed by the country’s Independent Electoral Commission”.

    The council asked Jammeh “to respect the choice of the sovereign people of Gambia, as he did on Dec. 2, and to transfer, without condition and undue delay, power to the President-elect, Mr Adama Barrow”.

    It also urged all parties to exercise maximum restraint, refrain from violence and remain calm, and requested that the security of Barrow and that of all Gambians be fully ensured.

    The council also urged support by the UN Office for West Africa and international partners, especially ECOWAS, to preserve stability in The Gambia and work toward the installation of a democratically elected government in the country.

    The council commended The Gambian people for the peaceful and transparent conduct of elections on Dec. 2 and expressed commitment to continue to closely follow the evolution of the situation in the country.

    The council recalled the relevant provisions of Article 23 (4) of the AU Charter on Democracy, Elections and Governance.

    It further called on Jammeh to respect the ECOWAS Protocol on Democracy and Good Governance and the African Charter on Democracy, Elections and Governance, notably the rejection of unconstitutional change of government.