TheNewsGuru

Tag: Osinbajo

  • 2017 Budget will deliver positive economic growth – Osinbajo

    Acting President, Prof. Yemi Osinbajo, yesterday, signed the 2017Appropriation Bill into law.

    Osinbajo signed the budget at about 4:40 p.m. inside his conference room in the presence of the Chief of Staff to President Muhammadu Buhari, Abba Kyari; Senate President, Dr Bukola Saraki; Speaker of the House of Representatives, Yakubu Dogara; ministers and other top government officials, with the final figure of N 7.44 trillion presented by the National Assembly.

    The acting President, who described the budget signing as a milestone in the implementation of the economic and growth plan programme put in place by President Buhari in April, also noted that it had fewer errors than that of last year.

    He said: “A few minutes ago, I signed the 2017 Appropriations Bill into law. This is an important milestone in our economic recovery and growth plan laid in April by President Muhammadu Buhari. “I would like to express my appreciation to the Senate President, Speaker of the House of Representatives, as well as the entire leadership and members of the National Assembly for completing work on the 2017 Appropriation Bill.

    And I will return to this point presently. “The process of preparing and processing this Bill was much smoother than the 2016 Appropriation Bill. On the executive side, there were no allegations of errors, or mistakes, and there was a significant improvement in the quality of the preparation, as well as the presentation. “I wish to commend the Ministry of Budget and Planning for such a remarkable improvement over a single budget cycle.

    “On the side of the National Assembly, I wish to commend the collaborative spirit of the engagements our MDAs had with their various committees, and with the leadership, during the budget defence sessions. There were far fewer reported cases of acrimony, or hostile wrangling this year, than in the past. “From the reports we received, the sessions were generally conducted in a friendly atmosphere.

    There is no doubt that our democracy is maturing. “However, the final presentation and the signing of the budget has been considerably delayed. This was largely due to disagreements we had about the changes introduced to our 2017 budget proposals by the National Assembly.

    “The executive took the view that the changes fundamentally affected some of our priority programmes and would make implementation extremely difficult and in some cases impossible.

    “I am also pleased to mention that, in our discussions with the leadership of the National Assembly, we have jointly resolved to return to a predictable January to December fiscal year. “It is a particularly important development because this accords with the financial year of most private sector companies, underscoring the crucial relationship between government and the private sector.

    “Therefore, on the understanding that we will be submitting the 2018 budget to the National Assembly by October 2017, the leadership of the National Assembly has committed to working towards the passage of the 2018 budget into law before the end of 2017. I must, once more, express my appreciation to the leadership of the National Assembly, for the collaborative spirit in which these discussions were conducted.

    “The 2017 budget, which I have signed into law today, is christened “Budget of Economic Recovery and Growth” and reflects our commitment to ensure strong linkage between the medium-term Economic Recovery and Growth Plan, ERGP, recently launched by His Excellency, President Muhammadu Buhari, and the annual budgets.

    Economy signalling gradual recovery

    “It is designed to bring the Nigerian economy out of recession unto a path of sustainable and inclusive growth. The budget has a revenue projection of N5.08 trillion and an aggregate expenditure of N7.44 trillion.

    The projected fiscal deficit of N2.36 trillion is to be financed largely by borrowing. “As you are all aware, our economy is already signalling a gradual recovery as growth is headed towards positive territory. First quarter GDP, at -0.52% compares favourably with -2.06% in the first quarter of 2016. Inflation is declining – down to 17.24 per cent from 18.74 per cent as at May 2016. Our external reserves are now US$30.28 billion as at June 8, 2017 up from US$26.59 billion as at May 31, 2016. “We are also gradually instilling confidence in our exchange rate regime.

    This improvement in GDP growth and other macro-economic indicators is largely attributable to our strategic implementation of the 2016 Budget as well as stronger macroeconomic management and policy coordination. “I am confident that the 2017 budget will deliver positive economic growth and prosperity – one that is self-sustaining and inclusive. In this regard, the 2017 budget will be implemented in line with our Economic Recovery and Growth Plan.

    5 key execution priorities

    “Over the 2017-2020 plan period, we are focusing on five key execution priorities, namely: Stabilizing the macroeconomic environment; Agriculture and Food security;Energy sufficiency in power and petroleum products; Improved transportation infrastructure; and Industrialization through support for micro, small and medium-scale enterprises, MSMEs. “The 2017 budget includes provisions that reflect these priorities.

    To demonstrate our commitment to following through our Economic Recovery and Growth Plan, the 2017 budget allocates over N2 trillion to capital expenditure, principally infrastructure.

    N200bn for transport infrastructure “For instance, we are committing over N200 billion to improve transport infrastructure such as roads and rail; over N500 billion for investments in works, power, and housing; and N46 billion for Special Economic Zone Projects to be set up in each geopolitical zone.

    “The signing of the budget today will trigger activities in the domestic economy, which will lead to job creation and more opportunities for employment, especially for our youths. And, as I indicated earlier, we will be returning to the National Assembly to seek upward adjustments by way of virements in relation to a number of critical projects which have received inadequate provision in the budget just passed by the National Assembly.

    “We acknowledge that government alone cannot achieve the overarching goal of delivering inclusive growth; that is why the 2017 budget provides a lot of opportunities for partnerships with the private sector.”

  • BREAKING: At last, Osinbajo signs 2017 Budget

    The acting President, Prof. Yemi Osinbajo, on Monday signed the 2017 Appropriation Bill into law.

    Osinbajo appended his signature on the document at about 4:41pm inside the Presidential Villa, Abuja.

    The brief event was witnessed by principal officers of the National Assembly, presidential aides and other top government officials.

    Details later…

  • Don’t abandon responsibilities to your wives, Osinbajo tells husbands

    Don’t abandon responsibilities to your wives, Osinbajo tells husbands

    Acting President Yemi Osinbajo has urged husbands not to abandon their marital responsibilities to their wives in their matrimonial home.

    The Acting President made the charge in his message at the wedding of Miss Wuraola Akande and Dr Olawale Solabi at the International Conference Centre, University of Ibadan, on Saturday.

    TheNewsGuru.com reports that Wuraola is the daughter of a former governor of Osun, Chief Bisi Akande, a chieftain of the ruling All Progressives Congress (APC).

    The acting president maintained that men should be alive to their responsibilities as the head of the home.

    “Men are supposed to see their wives as `Help Meet’ and not `Help Mate.’’ ‘When I say `help meet’, it means she will fill the gap where there is need for it and not leaving your responsibilities to her,’’ he said.

    Osinbajo advised the new couple to love each other unconditionally and to allow God to reign supreme in their home and affairs.

    According to him, “the aim of marriage is companionship, which must be a lifelong experience. There are reasons for exhibitions like marriage.

    “The major reason is to find a partner whom one can spend the rest of his or her live with,’’ Osinbajo said.

    Also speaking, Gov. Abiola Ajimobi of Oyo State urged the couple to be better companions, adding that long lasting marriages are those built on love and fear of God.

    He told the couple that the success of the marriage would depend largely on the two of them.

    According to him, the marriage could only work if the wife submits totally to the husband while the husband is also expected to always love and listen to advice from his wife.

    “Always endeavour not to share your problems with the third party, be it friends or parents,’’ he said.

    The ceremony was also attended by other state dignitaries including President of the Senate, Dr Bukola Saraki as well as governors Ibikunle Amosun (Ogun); Rotimi Akeredolu (Ondo) and Rauf Aregbesola(Osun).


    Also in attendance were a former governor of Osun, Olagunsoye Oyinlola; Minister of Information and Culture, Alhaji Lai Mohammed and the Minister of Finance, Mrs Kemi Adeosun.

    Others are Sen. Babafemi Ojudu, Special Adviser to the President on Political Matters; Malam Nuhu Ribadu, a former EFCC Chairman and Alhaji Mai Mala-Buni, APC National Secretary.

     

    NAN

  • What Nigeria, other African countries must do to attract global investment – Osinbajo

    Acting President, Prof. Yemi Osinbajo, SAN, has said Nigeria and other African countries seeking investors and global attention must be united despite the obvious cultural, religious and political differences.

    ​Osinbajo said this on Friday while receiving in audience a Special Envoy from the Egyptian President Abd El-Fattah El-Sisi, Ms. Moushira Khattab, who is vying for the position of Director-General of the United Nations Educational, Scientific & Cultural Organisation, UNESCO.

    “We have seen the great importance of UNESCO,” Osinbajo noted, adding that this is especially so at a time the Federal Government is confronting the challenges in North-East including the planning for the education of hundreds of thousands of displaced children.

    He added that “it is important that Africa remains united to take its place, and we stand to benefit the most that way, including in the work of UNESCO.

    On the UNESCO election Special Envoy Khattab said that the African Union has pledged to support her candidacy in the forthcoming UNESCO election.

    She therefore requested Nigeria’s support, considering, according to her, the important role of Nigeria “and the great respect that you enjoy in Africa and globally.”

    Acting President Osinbajo then assured the Special Envoy that Nigeria would explore and consider the matter.

    He thanked the envoy for the visit and extended President Muhammadu Buhari’s friendly greetings to his Egyptian counterpart.

     

  • We will engage, we will not confront – Osinbajo tells NASS

    We will engage, we will not confront – Osinbajo tells NASS

    Acting President, Prof. Yemi Osinbajo, said the executive would continue to engage the legislature in line with democratic principles to ensure that Nigerians enjoyed dividends of democracy.

    He stated this at the House of Representatives activity to mark second anniversary celebration of the 8th National Assembly on Friday in Abuja.

    Represented by Sen. Ita Enang, Senior Special Adviser to the President on National Assembly Matters, Osinbanjo said that the executive would not confront the legislative arm in their dealings.

    “We appreciate the powers of the legislature; we will in our relationship with you, continually relate on the basis of honour for each other. We will only engage, we will not confront you.

    “We thank you, we congratulate you for the two years of your existence, and we wish you the best in the remaining years of your service,” he said.

    In his address, President of the Senate, Dr Bukola Saraki, described the Senate and the House of Representatives as two inseparable twins.

    Saraki, who was represented by Sen. Dino Melaye said that both chambers would continue to work together for the progress of the country.

    He said that he was proud of the House, saying that it had done very well in the last two years.

    He assured that the chambers would continue to collaborate as functions of legislation would not be discharged effectively achieved without a synergy.

    The 8th National Assembly was inaugurated on June 9, 2015.

     

    NAN

  • Osinbajo storms Maiduguri hours after bomb blasts

    Osinbajo storms Maiduguri hours after bomb blasts

    The Acting President, Prof. Yemi Osinbajo has arrived Maiduguri, the Borno state capital on an official state visit.

    Osinbajo, who arrived the state, hours after Boko Haram insurgents attacked some towns in Maiduguri, the state capital is expected to launch the special intervention relief plan for Internally Displaced Persons, IDPs.

    TheNewsGuru.com reports that the terrorist group had in the early hours of Thursday attacked some towns in Maiduguri, burning houses and killing residents.

    Upon his arrival, Osinbajo visited the palace of the Shehu of Borno where he disclosed that President Muhammadu Buhari was concerned about the welfare of IDPs.

    Details shortly…

  • BREAKING: Goodbye to queues as airports comply with Osinbajo’s order [Video]

    Sequel to the Acting President, Prof. Yemi Osinbajo’s signing of three Executive Orders to ease business in Nigeria, TheNewsGuru.com authoritatively reports that the nation’s international airports have fully complied with the Executive Order which sought to stop officials from delaying or receiving bribes from passengers.

    Investigations by TheNewsGuru.com reveal that the manual baggage checking counter has been completely removed today.

    Unlike the old practice, passengers will now have to go through check in counter with their luggage without any form of manual ‘stop and search’ by officials of the airport.

    However, passengers with suspicious items might be recalled for a thorough search of their luggage by officials of National Drug Law Enforcement Agency, NDLEA and other relevant agencies with a scanning machine.

    Elated passengers who were pleased with the development told TheNewsGuru.com that: “This is a very remarkable improvement. Now you don’t have to watch helplessly as all manner of rough urchins in uniform forage through your wife’s undies in the name of pre-boarding searching. Mr President needs a longer medical vacation indeed!”

    However, while some are of the view that the development have been on for a while, others are of the view that it was the acting President who gave the order and ensured its enforcement.

    “The acting President should take credit for this. I watched him give that instruction on live TV when he visited the Lagos airport the first time Oga was away!,” a visibly happy passenger who craved anonymity told TheNewsGuru.com.

    Another anonymous passenger who expressed diverse view about the acting President taking full credit for the development said both President Muhammadu Buhari and the Acting President, Prof. Yemi Osinbajo are working together and that credit for whatever positive developments in the country should go to both and the administration as a team.

    “The committee was set up by the President with his vice as chairman. He (Osinbajo) just gave directives. The President and his Vice are working together,” he said.

    TheNewsGuru.com recalls that the Nigerian Civil Aviation Authority (NCAA) on Tuesday said it had put in place measures to ensure full and sustained compliance with the Federal Government’s Executive Order at airports in the country.

    TheNewsGuru.com reports that the Acting President, Prof. Yemi Osinbajo, had on Thursday, May 18 signed three far-reaching executive orders expected to ease business, fast-track budget submission and promote made in Nigeria products.

    See video of compliance at Muritala Muhammed International Airport today:

     

     

  • FG to build $1bn ICT Company to boost local technology – Osinbajo

    The Acting President Yemi Osinbajo on Tuesday said the federal government had concluded plans to build a one billion dollar ICT company to boost indigenous technology.

    He made this known in Abuja while delivering his opening address at the 2017 Digital Africa Conference and Exhibition tagged: “the Fourth Industrial Revolution: Getting Africa Ready“.

    According to him, such an achievement will make Nigeria cease being a dumping ground for ICT products and services.

    Osinbajo, who was represented the Minister of Communications, Adebayo Shittu, said: “The Nigerian government is committed to encourage the growth of indigenous ICT companies to world standards by proving policies that will help them thrive.

    “With the mantra of change, the Nigerian political milieu will be recalibrated for the age of the Fourth Industrial Revolution.

    “So that both the executive and legislative will be more responsive and responsible in addressing the major global challenges staring us in the face,“ he said.

    On his part, the Minister of Communication, represented by the Permanent Secretary in the ministry, Sunday Echono, said the government was preparing for the Fourth Industrial Revolution predicted to happen globally in the very near future.

    According to him, the Federal Government has conceived a National ICT Park and Exhibition Centre in the Federal Capital Territory.

  • JUST IN: Osinbajo writes Senate, seeks approval for $1.5bn loan

    Acting President Yemi Osinbajo on Tuesday asked the Senate to approve $1.5bn loan, which is part of the 2016-2018 External Borrowing Plan of the Federal Government.

    The loan is meant for projects in 10 states.

    Osinbajo request to the upper chamber was made known by Senate President, Bukola Saraki, in a letter he read on the floor of the House on Tuesday, June 6.

  • Corruption: Banks keeping stolen funds must be sanctioned – Osinbajo

    The acting President, Prof. Yemi Osinbajo, on Monday urged banks and other financial institutions withholding illicit funds to be made “to face the consequences of engaging in criminal conduct“.

    Osinbajo said this in an address at the `Conference on Promoting International Co-operation in Combating Illicit Financial Flows and Enhancing Asset Recovery to Foster Sustainable Development’ in Abuja.

    According to Osinbajo, the transfer of illicit funds cannot happen without a “handshake’’ between the countries where the funds are transferred from and financial institutions and countries to which the assets are transferred.

    “There is no way it will happen without some form of connivance between international banking institutions and those who transfer these funds.

    “So we must work at somehow delegitimizing those kinds of transactions and criminalizing them, just as Mr Akere Muna said, so that banks and financial institutions that are engaged in this are actually called out and are made to face the consequences of engaging in criminal conduct.

    “If that isn’t done we are not likely to get very far.’’

    Osinbajo stated that there must be ways of finding how to tackle the collaboration and connivance between those involved in illicit funds transfer.

    He urged the international community to be involved in a lot of bi-lateral agreements and conventions that would ensure that financial institutions were not given a free run.

    “Financial institutions are key to all of this and whatever we do we must hold financial institutions accountable,’’ he stated.

    The Acting President advised Africa and developing countries to realize that it was their responsibility to ensure that they not only traced the illicit funds but also made sure that they were returned.

    He said it was easy to talk about how difficult it was to get the money back but noted that the reluctance of the countries involved in acting was not encouraging.

    Osinbajo said that countries should ensure that everyone was as outraged about corruption and illicit funds as was done with drugs money and terror financing.

    “If we don’t ensure that people are as outraged as we are we are not going to get very far no matter what we say.

    “Every country will protect its financial institutions as best as it can as long as it is not necessarily suffering any major damage; they probably will not cooperate,’’ he added

    Osinbajo said Africa must insist and emphasise the point in every forum to call out un-cooperative institutions to recognize that the problem was a major issue that must be resolved.

    He observed that “when corruption secures safe heaven it fights back’’ adding that corrupt people had engaged media trials to delegitimize the anti-corruption battle.

    In a keynote address, Mr Akere Muna, the Chairman, Anti-Corruption Conference Council, said transparency was key in tracking illicit funds.

    The former Vice Chair of Transparency International said it was morally wrong for banks and financial institutions to keep stolen and frozen funds.

    Muna called for the creation of escrow account to warehouse stolen funds for easy access to the owner-countries.

    “We need to have a system where the money moves from the handler to a third party; this makes recovery easier,’’ he said.

    He also criticized the way people saw corruption in Africa as a way of life adding that it would not help in the anti-corruption drive.

    In his remark, Mr Abubakar Malami, the Minister of Justice and Attorney General of the Federation, said Nigeria had signed accords to ease investigation, tracking and return of stolen assets.

    Malami said the country needed global support in those directions.

    He noted that the commitment to curb corruption was rooted in all programmes of the Muhammadu Buhari administration.

    According to him, the return of the country’s stolen assets will help Nigeria quickly overcome recession.

     

     

    NAN