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Presidency Affirms N1.27tn Addition To 2024 Budget Amidst Padding Allegations

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Senator Yemi Adaramodu, spokesperson for the Senate has vehemently refuted accusations of budget padding in the N28.77 trillion budget passed by the National Assembly.

The denial comes in response to concerns raised by Senator Abdul Ningi regarding potential discrepancies.

Contrarily, the Presidency issued a statement on Saturday acknowledging a N1.27tn addition to the 2024 budget. However, it expressed confusion over the origin of the mentioned N3tn.

Adaramodu underscored the budget’s public accessibility, affirming its status as a document available for scrutiny by Nigerians.

As reported by the BBC Hausa service on Saturday, Senator Ningi, Chairman of the Northern Senators Forum, alleged that the Federal Government is running a budget of N28tn, contradicting the officially approved N25tn passed by the National Assembly.

He said, “Apart from what the National Assembly did on the floor, there was another budget that was done underground which we didn’t know.

“The new things we have discovered in the budget were not known to us. We haven’t seen them in the budget that was debated and considered on the floor of the National Assembly.

“For example, it was said that there was a budget of N28tn but what was passed was N25 trillion. So there is N3tn on top. Where are they, where is it going? So, we need to know this. There are a lot of things.

“For the first time in Nigerian history, today we are operating two different budgets. One budget was approved by the National Assembly and signed by President Bola Tinubu and the other was implemented by the Presidency.

“The one approved by us is N25tn while the one operated by the Federal Government is N28tn. Apparently, we discovered N3tn was inserted into the budgets without locations. This is the highest budget padding that happened in Nigerian history under Sen. Akpabio’s watch.

“We resolved as people’s representatives to see President Tinubu on this issue, with facts and figures, to ask him if he is aware of this embarrassment or not, then from there we will take action. Let Nigerians be patient with us.”

The Senate Spokesperson responded, asserting, “There is no budget padding, according to the Senate and the National Assembly.”

“The national budget is a public document, which expressly states the expected revenue and the expenditure of the Federal Republic of Nigeria.

“The Senate under the leadership of Senator Godswill Akpabio is not aware of any varied execution of the 2024 appropriation mandate, as approved.”

Senator Adaramodu added, “The budget presentation and approval processes were made in the public glare, while the Presidential assent was also in a public ceremony.

“Any infractions would have been brought before the Senate, if any.  The general public should be at rest that there is no budget padding anywhere and we are confident that the 2024 appropriation law shall be strictly executed, under strict legislative oversight.”

The Special Adviser to the President on Information and Strategy, Bayo Onanuga, clarified on Saturday, stating, “The National Assembly added N1.27tn to the 2024 budget. So, we do not see where the N3tn is coming from.”

“What we know is that the NASS approved a budget of N28tn which the President signed. What the President signed was the budget approved by the National Assembly, by the two houses.

“The 2023 supplementary budget was passed separately to run concurrently with this year’s budget until March.”

Ningi further announced that the Northern Senators Forum plans to confront Akpabio with its findings on the budget.

He added, “We want to show him what we have seen in the budget that is not acceptable, we will not accept them, and we don’t want the country to continue spending money on those things,”

The Head of Press and Public Relations Unit at the Ministry of Finance, Chukwu Helen, stated her inability to confirm whether the budget was padded with the mentioned amount.

She assured to provide confirmation after consulting with the ministry’s budget officer.

Recall that on November 29, 2023, President Bola Tinubu unveiled the “Renewed Hope budget” totaling N27.5tn before a joint section of the National Assembly, as reported by BIZTELLERS.

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No More Khaki! FG Unveils Adire as New NYSC Uniform

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Gombe NYSC Prioritises Safety of Corps Members

The Federal Government has announced that the National Youth Service Corps (NYSC) will replace its iconic khaki uniform with locally produced Adire fabric as part of a sweeping reform aimed at repositioning the scheme and promoting indigenous industries.

Minister of Youth Development, Ayodele Olawande, disclosed the development during an appearance on Channels Television’s The Morning Brief on Thursday.

According to the minister, the adoption of Adire is intended to strengthen Nigeria’s textile industry by ensuring government spending supports local manufacturers.

ALSO READ: FG Approves Biggest NYSC Overhaul in 53 Years, Introduces Civilian Leadership, New Uniform

“It’s Adire. Adire is being produced in Nigeria. We have them in Ogun, we have them in Kwara, we have the textile industry. Let’s put our money back into the country,” Olawande said.

The minister also revealed that the ongoing restructuring of the NYSC would see corps members posted based on their academic qualifications and professional backgrounds.

Under the new arrangement, graduates with education-related qualifications will be deployed to schools, while others will be assigned to sectors that align with their areas of study to improve productivity and national development.

Addressing security concerns, Olawande said the Federal Government is considering posting prospective corps members to regions where they studied or are familiar with, particularly in areas facing security challenges.

He noted that the move would reduce concerns among parents and corps members while making deployments more practical.

He further dismissed reports suggesting the military would be removed from the NYSC, describing such claims as a misconception.

According to him, while the scheme’s operational leadership will become civilian-led, the military will continue to play a key role in providing security and supporting the orientation programme.

The reforms follow the Federal Executive Council’s approval of a comprehensive overhaul of the 53-year-old NYSC scheme.

As part of the process, the Attorney-General of the Federation and the Ministry of Youth Development have been directed to amend the NYSC Act and relevant regulations to facilitate the implementation of the reforms.

The Federal Government said the changes are designed to transform the NYSC into a skills-oriented, productivity-driven and youth empowerment institution that supports its vision of building a $1 trillion economy.

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NEWS

Nigeria Lands Fresh $1.25bn World Bank Loan to Drive Jobs, Reforms

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World Bank deploys $114.9 to finance global crises in 2022

Nigeria has secured a fresh $1.25 billion financing package from the World Bank to support ongoing economic reforms, boost private sector investment and create more jobs across the country.

The funding was approved under the Nigeria Actions for Investment and Jobs Acceleration (NAIJA) programme and forms part of the World Bank’s Country Partnership Framework (CPF) for Nigeria, which will run from 2026 to 2032.

ALSO READ: Dangote Champions Infrastructure, Job Creation as Catalysts for Africa’s Economic Growth at IMF/World Bank Meetings

According to the World Bank, the financing is designed to help Nigeria remove barriers to private investment, improve the business environment and lay the foundation for faster, more inclusive economic growth.

The programme will support reforms across critical sectors, including the capital market, digital economy, power sector, agriculture, trade liberalisation under the Economic Community of West African States (ECOWAS) and the African Continental Free Trade Area (AfCFTA), as well as domestic revenue mobilisation.

The global financial institution said the initiative is expected to expand electricity access to about 32 million Nigerians, provide broadband connectivity for 58 million people, improve health and nutrition services for 40 million citizens, and support approximately 9.5 million farmers.

The World Bank added that its six-year Country Partnership Framework is focused on mobilising private capital, strengthening economic resilience and creating productive jobs while supporting investments in infrastructure, digital connectivity, human capital and agricultural productivity.

Speaking on the approval, World Bank Country Director for Nigeria, Mathew Verghis, said the framework builds on Nigeria’s recent macroeconomic reforms, which have contributed to stronger economic growth, improved public revenues and renewed investor confidence.

He stressed that sustaining the reform agenda would be crucial to unlocking the country’s full economic potential and creating more opportunities for millions of Nigerians.

The latest financing package is expected to complement the Federal Government’s efforts to accelerate economic reforms, attract investment and promote long-term, private sector-led growth.

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BREAKING: Gunmen Launch Fresh Attack on NIPSS

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Security operatives at the National Institute for Policy and Strategic Studies (NIPSS), Kuru, Plateau State, have successfully repelled another attack by suspected gunmen, killing one of the assailants during a fierce exchange of gunfire.

The incident occurred around 11 p.m. on Wednesday when the armed men reportedly attempted to breach the institute’s security perimeter.

However, security personnel swiftly responded, engaging the attackers in a gun battle that forced them to retreat.

SEE ALSO: Gunmen Kill Ex-Ogun State Broadcaster, Security Guard in Early Morning Attack

In a statement issued on Thursday by the institute’s Head of Public Affairs, Dr. Osime Samuel, NIPSS confirmed that one of the suspected attackers was neutralised, while several others escaped with varying degrees of injuries.

The institute said the attackers failed to gain access to its premises, assuring that participants of the Senior Executive Course, staff, residents, and facilities remained safe throughout the incident.

According to the statement, security agencies have intensified efforts to track down the fleeing suspects while strengthening surveillance and other proactive security measures within and around the institution.

NIPSS reaffirmed that the safety of lives and property remains its top priority and commended the prompt response and professionalism displayed by security operatives during the attack.

The institute also urged members of the public to disregard misinformation capable of causing unnecessary panic.

The latest assault comes just weeks after another failed attempt by gunmen to infiltrate the prestigious policy institute, raising fresh concerns over recurring security threats in the area.

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