Connect with us

NEWS

BREAKING: Senate Approves 2024 Budget With N1.2tn Increase In Appropriation

Published

on

 

 

 

The Senate has approved the 2024 budget for a third reading, culminating in a noteworthy adjustment of N1.2tn.

 

The budget, initially set at N27.5tn, now stands at N28.7tn.

 

The legislative development transpired following a voice vote conducted by Senate President Godswill Akpabio.

 

Prior to this, the Senate meticulously reviewed the Appropriation Bill’s report, presented by Senator Adeola Solomon, Chairman of the Appropriation Committee.

READ ALSO: Senate Summons Kyari For Budget Defense Within 24 Hours

Breaking down the financial framework, the Senate established the Aggregate Expenditure at 28,777,404,073,861 Naira, Statutory Transfers at 1,742,786,788,150 Naira, Recurrent Expenditure at 8,768,533,030,852 Naira, Capital Expenditure at 9,995,143,298,028 Naira, and GDP at 3.88%.

 

This fiscal decision follows President Bola Tinubu’s presentation of the initial budget of N27.5tn to the National Assembly on November 29.

 

Tinubu highlighted a budget deficit of N9.18tn for the 2024 fiscal year, equivalent to 3.88% of Nigeria’s GDP.

 

President Tinubu elucidated, “The N9.18 trillion deficit is a reduction compared to the N13.78 trillion deficit recorded in 2023, representing 6.11% of GDP.”

 

He outlined the financing plan, which includes new borrowings of N7.83tn, N298.49BN from Privatization Proceeds, and a drawdown of 1.05 trillion Naira on multilateral and bilateral loans earmarked for specific development projects.

 

Biztellers could recall that the budget’s journey through the legislative process saw the Senate passing it for a second reading on December 1.

 

Click to comment

NEWS

Olatunji’s Abduction: NPO, BON Intervention, Ombudsman To Resolve

Published

on

The Nigerian Press Organisation (NPO), the Broadcasting Organisation of Nigeria (BON) and Civil Society Partners (CSP), have revealed that the abduction of the General Editor of FirstNews newspapers, Segun Olatunji, has been referred to the national ombudsman for adjudication.

According to a statement jointly signed by President, Newspapers Proprietors Association of Nigeria (NPAN)/President, Nigerian Press Organisation (NPO), Mal. Kabiru A. Yusuf, and elected officers of the other media bodies in Nigeria, following pressure from the concerned groups, the Defence Intelligence Agency (DIA), requested a meeting with the NPO, BON and the CSP on April 14, 2024.

The statement disclosed that the military authorities said that they acted to forestall a potential threat to national security and would have reported the matter to the National Media Complaints Commission (NMCC) – The National Media Ombudsman – if they had been aware of its existence.

After considering this disposition towards the Ombudsman, the NPO, BON and the CSP have decided after reviewing the outcome of the April 14 meeting, to refer the matter to the Ombudsman for adjudication.

The report of the Ombudsman process would be made public.

We hope that the parties concerned will seize this opportunity to settle the matter in the interest of law, order and respect for the provisions of Nigeria’s constitution.

Besides, the specific issue of Olatunji, the group condemns the increasing militarisation of the civic space, which has seen increasing use of excessive force by soldiers in matters that would have ordinarily be handled by the police.

Continue Reading

NEWS

JUST IN: Reps Summon Petroleum Minister Amid Fuel Crisis

Published

on

The House of Representatives has taken decisive action in response to the widespread shortage of Premium Motor Spirit, commonly referred to as petrol, by summoning the Minister of Petroleum Resources.

This move follows a motion of urgent public importance introduced by Shehu Ajilo, the representative for Makarfi/Kudan Federal Constituency, during Tuesday’s plenary session.

While President Bola Tinubu currently holds the position of Minister of Petroleum Resources, and Heineken Lokpobiri serves as Minister of State (Petroleum Resources), the specific minister summoned was not disclosed by the lawmakers.

Lawmakers anticipate receiving a briefing from the Minister regarding the fuel crisis, along with proposed measures to tackle the issue effectively.

 

 

Details later.. . .. . . 

Continue Reading

NEWS

BREAKING: Senators Fight Over Seats In Newly Renovated Chamber

Published

on

Senate asks NLNG to pay host communities N18.4b compensation within 2 months 

A tumultuous scene unfolded during the Senate’s return to plenary on Tuesday, marked by a heated altercation among senators over seating arrangements in the recently refurbished chamber.

Commencing around 11 am, the plenary commenced with the customary procession, followed by Senate President GodsWill Akpabio’s announcements, including recognition of lawmakers whose birthdays occurred during the recess.

Tensions escalated when Senator Sahabi Yau (APC, Zamfara North) engaged in a vocal exchange with Senate leader Opeyemi Bamidele (APC, Ekiti Central), with finger-pointing gestures exchanged between the two.

Subsequently, Danjuma Goje (APC, Gombe Central) joined Yau in confronting Bamidele and Senate Services chairman Sunday Karimi (APC, Kogi West) regarding the seating arrangements.

Reports indicate that the dispute stemmed from discontent among senior senators regarding their seating positions, particularly those allocated seats in the front row on the far right side of the aisle.

In an attempt to restore order, the Senate President called for senators to address their grievances individually, yet Yau refused to comply, prolonging the tumultuous session for approximately 20 minutes.

Following the Senate President’s address, the Senate leader proposed a resolution to convene a closed-door session, which was subsequently approved.

At approximately 12:05 pm, the Senate transitioned into an executive session.

The Senate had adjourned plenary on March 20 until April 16, with resumption postponed twice to accommodate the completion of renovations on the chamber, which had been ongoing since 2022.

Continue Reading

Copyright © 2022. Biztellers, powered by Alphaxristi.