NEWS
Supplementary Budget: State House Allocated N28bn For Renovation Of Houses, Cars [ Full Breakdown]
The 2023 Supplementary Budget of N2.176 trillion reveals that a substantial portion, N615 billion, is allocated to the Servicewide Vote.
This allocation aims to facilitate the fulfillment of the federal government’s commitment to providing a monthly N35,000 allowance to its workers, as part of the strategy to mitigate the impact of the fuel subsidy removal, as announced by President Bola Tinubu.
Pending approval by the National Assembly, a sum of N28 billion is earmarked for multiple purposes, including house renovations and vehicle acquisitions.
Specifically, N4 billion is allocated for the refurbishment of the President’s residential quarters in Abuja, while the remaining funds are intended for purchasing cars for the President and Vice President, Sen. Kashim Shettima, along with official vehicles for Villa staff.
Likewise, a budget of N4 billion is designated for the renovation of Dodan Barracks, specifically for the President.
Additionally, N3 billion is allocated for the renovation of the Vice President’s official quarters in Lagos, and N2.5 billion is set aside for the refurbishment of Aguda House.
Allocation details for car purchases in the Villa include: N2.9 billion for SUV vehicles, another N2.9 billion for the replacement of pool vehicles, and N1.5 billion for official vehicles for the Office of the First Lady.
Furthermore, a significant expenditure involves the construction of an office complex in the State House, allocated N4 billion.
For the State House Complex at Mabushi, N1.5 billion is allocated for the acquisition, renovation, and rehabilitation of two EFCC fortified quarters.
Additionally, a similar complex in Guzape receives another N1.5 billion. The computerization and digitalization of the State House are also allocated N200 million.
In the distribution among Ministries, Departments, and Agencies (MDAs), the Ministry of Defence takes the lead with a substantial allocation of N476.5 billion, followed by the Ministry of Works with N300 billion for capital projects.
The Ministry of Agriculture and Food Security receives a total of N200 billion, comprising N104.8 billion for recurrent expenses and N95.2 billion for capital projects.
Other allocations include N200 billion for the Federal Capital Territory, N100 billion for the Ministry of Housing, and N49.9 billion for Police Formations and Command, consisting of N29.6 billion for recurrent and N20.3 billion for capital expenses.
The Department of State Services (DSS) is allocated N49.04 billion, and the Office of the National Security Adviser (NSA) receives N29.7 billion. Additionally, N210.5 billion is earmarked for Capital Supplementation.
NEWS
Moghalu Prescribes Good Governance As Panacea To Ethnic Agitation
The President of the African School of Governance, Kingsley Chiedu Moghalu has admonished state actors against resorting to brutal force in the bid to muscle out separatist agitators.
In the aftermath of Mazi Simon Ekpa, the Finland based Biafran nationalist agitator being caught in legal web and the Nigerian government moving swiftly to seek his repatriation, the former deputy governor of the Central Bank of Nigeria (CBN) has cautioned that ‘We either fix our problems, or our problems will eventually “fix” us. No alternative to a renegotiated union.’
ALSO READ: Finnish Police Arrest Simon Ekpa Over Terror-Related Allegations
The political economist, while expressing his hope in Nigeria, made it clear that “hope is not a strategy”.
He bared his mind in a series of posts on his verified handle on micro-blogging site, X on Friday.
Moghalu wrote, “Despite sustained contemporary difficulties, I am hopeful about Nigeria. But hope is not a strategy. We need to improve state capacity for effective governance.
“We either fix our problems, or our problems will eventually “fix” us. No alternative to a renegotiated union.
“We must learn to be honest with ourselves and address the root causes of our problems. Why ignore them, when the problem is actually quite solvable? The problem with continuing with this approach is that when the danger crystallizes, those who thought they were benefiting from
NEWS
N1.7trn Loan: Atiku Blames NASS For Worsening Nigeria’s Debt Burden
Former Vice President, Atiku Abubakar has criticized the federal government’s plan to secure an additional N1.7 trillion loan through Eurobonds to cover a shortfall in the 2024 budget, describing the borrowing as unsustainable and harmful to Nigeria’s economy.
In a statement shared on Thursday via his X (formerly Twitter) handle, Atiku accused the Bola Tinubu-led administration of burdening Nigerians with debt while failing to provide clear answers about the country’s fiscal challenges.
READ ALSO: CSR: Dangote Cement Fuels Education With Support Projects At Lagos Schools
He also faulted the National Assembly for enabling what he called a “voracious appetite” for loans.
The former Peoples Democratic Party (PDP) presidential candidate expressed alarm over a recent World Bank report ranking Nigeria as the third most indebted country to the International Development Association (IDA), calling the development troubling.
“The recent report released by the World Bank, showing Nigeria as the third most indebted country to the International Development Association (IDA), is very concerning,” Atiku stated.
He raised further concerns about the government’s decision to benchmark the proposed loan at an exchange rate of 1 USD to N800, despite the Central Bank of Nigeria’s official rate being over N1,600.
“What makes this particular loan proposal even more concerning is that it is benchmarked at the exchange rate of 1 USD to N800, whereas the current exchange rate from the Central Bank of Nigeria stands at over N1,600 to 1 USD,” he said.
Atiku questioned the need for additional borrowing, given the government’s earlier claims of record-high revenue collection.
“In July this year, Tinubu boasted that the FIRS and Customs under his watch had collected all-time high revenues to finance the budget. Why are they still borrowing?” he said
He accused the government of a lack of transparency, describing the borrowing spree as detrimental to Nigerians already struggling under economic hardship.
“There is something that they are not telling Nigerians, even as they are being crushed by a combination of their failed trial-and-error policies and loan rackets.”
Atiku also referenced a report by BudgIT, a budget monitoring group, which criticized the 2024 budget for its inefficiencies.
He alleged that corruption, rather than infrastructure or development needs, was driving the government’s borrowing decisions.
“These loans are powered by corruption and not for infrastructure and development needs. This voracious appetite for humongous loans is deeply concerning,” he said.
Reflecting on Nigeria’s financial history, Atiku lamented the return to significant foreign indebtedness just years after former President Olusegun Obasanjo’s administration cleared the country’s debt.
“It is agonizing to see that just a few years after the Obasanjo administration took us out of foreign indebtedness, we are today back at the top spot in the same conundrum,” he stated.
He called for a more cautious approach to borrowing, urging the government to prioritize fiscal responsibility and transparency to avoid worsening Nigeria’s economic challenges.
International News
ICC Issues Arrest Warrants For Israeli Prime Minister Netanyahu, Others
The International Criminal Court (ICC) has taken a historic step, issuing arrest warrants for Israeli Prime Minister Benjamin Netanyahu and former Defense Minister Yoav Gallant.
The charges include crimes against humanity and war crimes allegedly committed during Israel’s recent assault on Gaza.
In a detailed statement, the ICC accused the Israeli leaders of “intentionally and knowingly depriving the civilian population in Gaza of objects indispensable to their survival, including food, water, and medicine and medical supplies, as well as fuel and electricity.”
READ MORE: Osun Govt Decries Attempted Murder Of Park Mgt Chairman By Police
The ICC’s move marks a significant escalation in international scrutiny of the Israeli-Palestinian conflict. Netanyahu and Gallant are alleged to have orchestrated policies that caused severe harm to the civilian population in Gaza, leading to widespread condemnation from human rights organizations.
Alongside the charges against Israeli officials, the ICC also issued an arrest warrant for Hamas military commander Mohammed Deif. Deif has long been a central figure in Hamas’s military operations. Israel’s military claims to have killed him in a July airstrike, although this has not been independently verified.
The warrants highlight growing calls for accountability amid the ongoing conflict in the region. The ICC’s actions are likely to provoke heated debate and may complicate diplomatic efforts aimed at resolving the crisis.
With the warrants issued, global attention now turns to how the international community will respond and whether any practical steps will be taken to enforce them.