Connect with us

NEWS

Tinubu Unveils 2024 Budget Proposal [Full Speech]

Published

on

President Bola Tinubu presented the N27.5 trillion 2024 budget proposal to the 10th National Assembly in Abuja on Wednesday.

This marks his first such presentation since taking office six months ago.

Full speech below:

1. In furtherance of my sacred duties and obligations as President of the Federal Republic of Nigeria, it is my honour to be here today to present my administration’s 2024 Budget Proposal to this Joint Session of the 10th National Assembly. This moment is especially profound and significant to me because it is my first annual budgetary presentation to the National Assembly.

2. Distinguished Senators and Honourable Members of the National Assembly, I commend your swift consideration and passage of the 2023 Supplementary Appropriation Bills and the 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper.

“Your prompt action underscores your devotion to economic development and to the greater welfare of our people. It also highlights your desire to work in close collaboration with the Executive branch. We do not serve ourselves. We must always strive to work together to serve and benefit the people of our beloved country.

3. I am confident that the National Assembly will continue to work closely with us to ensure that deliberations on the 2024 Budget are thorough but also concluded with reasonable dispatch. Our goal is for the Appropriation Act to come into effect on the 1st of January 2024.

4. It is, by now, a matter of recorded history that my very first fiscal intervention as President of this great nation was to end the fuel subsidy regime which had proven to be so harmful to the overall health of our national economy.

“The second was to negotiate and subsequently present a supplementary budget to enable my government to fund the items needed to restore macro-economic stability and mitigate the harsh impact of subsidy removal.

5. The third was to secure a second supplementary budget, this time to enable us to keep our promises to promote national security, invest in infrastructure and provide much-needed support to the most vulnerable households in our society.

6. In swearing in my cabinet and reflecting on the unique challenges facing us, I invited the Ministers to imagine that we are attempting to draw water from a dry well.

“Today, I stand before you to present our Budget of Renewed Hope; a budget which will go further than ever before in cementing macro-economic stability, reducing the deficit, increasing capital spending and allocation to reflect the eight priority areas of this Administration.

“The budget we now present constitutes the foundation upon which we shall erect the future of this great nation.

7. Economic conditions remain challenging both abroad and at home. Despite lingering post-COVID supply and production bottlenecks, armed conflict in various parts of the world and restrictive monetary policies in major economies, we expect global growth to hover around 3.0 percent in 2024. This relatively low rate has significant implications for our economy due to our current reliance on importation.

8. Distinguished Senators, Honourable Members: despite the global headwinds, the Nigerian economy has proven resilient, maintaining modest but positive growth over the past twelve months.

9. Inflation has trended upward due to weak global conditions. To contain the rising domestic prices, we will ensure effective coordination of fiscal and monetary policy measures, and collaborate with sub-national governments to address structural factors driving inflation in Nigeria.

10. The Budget proposal meets our goal of completing critical infrastructure projects which will help address structural problems in the economy by lowering the costs of doing business for companies and the cost of living for the average person, The Honourable Minister of Budget and Economic Planning will provide full details of this proposal.

11. Distinguished Senators and Honourable Members, an aggregate revenue of 11.045 trillion naira was projected to fund the 2023 Budget of 24.82 trillion naira with a deficit of about 6.1 percent of GDP.

12. As of September 30, the Federal Government’s actual aggregate revenue inflow was 8.65 trillion naira, approximately 96 percent of the targeted 8.28 trillion naira.

13. Despite the challenges, we continue to meet our obligations.

14. Distinguished Senators, Honourable Members, permit me to highlight key issues relating to the budget proposals for the next fiscal year. The 2024 Appropriation has been themed the Budget of Renewed Hope. The proposed Budget seeks to achieve job-rich economic growth, macro-economic stability, a better investment environment, enhanced human capital development, as well as poverty reduction and greater access to social security.

15. Defence and internal security are accorded top priority. The internal security architecture will be overhauled to enhance law enforcement capabilities and safeguard lives, property and investments across the country.

16. Human capital is the most critical resource for national development. Accordingly, the budget prioritizes human development with particular attention to children, the foundation of our nation.

17. To improve the effectiveness of our budget performance, the government will focus on ensuring value for money, greater transparency and accountability. In this regard, we will work more closely with development partners and the private sector.

18. To address long-standing issues in the education sector, a more sustainable model of funding tertiary education will be implemented, including the Student Loan Scheme scheduled to become operational by January 2024.

19. A stable macro-economic environment is important to catalyse private investment and accelerate economic growth. We have and shall continue to implement business and investment-friendly measures for sustainable growth.

20. We expect the economy to grow by a minimum of 3.76 percent, above the forecasted world average. Inflation is expected to moderate to 21.4 percent in 2024.

21. In preparing the 2024 Budget, our primary objective has been to sustain our robust foundation for sustainable economic development. A critical focus of this budget and the medium-term expenditure framework is Nigeria’s commitment to a greener future.

22. Emphasizing public-private partnerships, we have strategically made provisions to leverage private capital for big-ticket infrastructure projects in energy, transportation and other sectors.

“This marks a critical step towards diversifying our energy mix, enhancing efficiency, and fostering the development of renewable energy sources.”

NEWS

‘Dem Dey Use Stick Dey Flog Women’ — Nigerians in India Camp Cry Out

Published

on

Nigerian women allegedly being held at a deportation facility in India have cried out over their treatment, with a video circulating online showing some of them displaying injuries and alleging that security personnel flogged detainees.

The video began circulating online on Wednesday and shows a group of Nigerian women inside and around what they described as a deportation camp.

Several of the women pointed to marks, bruises and apparent injuries on their legs, feet and bodies while alleging that they were beaten with sticks or canes.

SEE ALSO: Rufai Oseni Row: NiDCOM Breaks Silence on Nigerians Detained in India, Addresses Ekene’s Case

“See my video, see my leg,” one of the women could be heard saying in the footage.

Another woman said, “Mona see wetin dem dey do for deportation camp.”

“Deportation camp, na dem flog person, see,” another woman said while showing what appeared to be an injury.

The women further alleged that female detainees were beaten with sticks.
“Dem dey use stick dey flog women, mona dey see am,” one of them said.

Another woman, while pointing at an injured detainee, said, “Dem carry cane flog o… see her body, dem flog am.”

The women also alleged that police officers carried sticks inside the facility.

“Police carry stick like say dem dey cut firewood,” one of the women said.

The footage shows the women appearing distressed as they moved through the facility and gathered in an outdoor area.

They repeatedly appealed to Nigerians to share the video and draw attention to their situation.

“Make una see… make this video trend/go,” one woman said.

“Make una share am,” another added.
One of the women also expressed frustration over their alleged experience at the facility, saying, “We don suffer, every time, every time.”

The footage comes amid ongoing concerns over Nigerians detained at the Lampur detention centre, also known as Sewa Sadan, in New Delhi.

Recall that in September, reports emerged that more than 200 Nigerians were being held at the facility, with some detainees alleging poor food, inadequate medical care and prolonged detention.

The Nigerians in Diaspora Commission (NiDCOM) subsequently defended its handling of the situation and said the Nigerian High Commission in India was seeking another amnesty period to facilitate the departure of Nigerians without proper immigration documentation.

No official response from the Indian authorities or the Nigerian government specifically addressing the allegations in the latest video had been made available at the time of publication.

 

Continue Reading

NEWS

‘Military Gets Huge Budgets, Yet Air Crashes Persist’ — Shehu Muhammad

Published

on

Military Conducts Mass Burial For Slain Soldiers In Niger Ambush, Air Crash

Rights activist, public affairs analyst and Chief Executive Officer of The Dialogue, Shehu Muhammad, has questioned the continued occurrence of military aircraft crashes despite the huge budgetary allocations to the country’s defence and security sector.

Muhammad spoke while reacting to the recent Nigerian Navy aircraft crash in Irele Local Government Area of Ondo State during an interview on Channels Television’s The Morning Brief.

Describing the incident as “one incident too many,” he recalled that Nigeria had recorded several military aircraft crashes involving the Nigerian Air Force and Nigerian Army over the years.

RELATED NEWS: Military Gear Found at Ondo Crash Site as Helicopter Burns to Rubble

He said the recurring incidents had raised concerns among members of the public about the condition of military aircraft and the process through which military hardware is procured.

“People have begun to cast aspersions as to the honesty, sincerity, and openness in the purchase of military hardware, including airplanes,” Muhammad said.

According to him, the concerns are heightened by the substantial funds allocated to the military and other security agencies over the years.

“There are insinuations by the public that, after all, the military receive the highest amount of money from the budget year in, year out,” he said.

Muhammad also questioned the transparency of defence procurement, particularly the process of selecting contractors for the supply of military equipment.

He argued that the repeated crashes should prompt authorities to examine military aviation operations, aircraft procurement and the management of defence resources.

The latest crash occurred in Irele, Ondo State, with recovery efforts reportedly complicated by the difficult terrain around the crash site.

Muhammad said the latest incident should not be treated in isolation, but should lead to broader questions about military aviation safety and the management of resources allocated to the defence sector.

He called for greater transparency and accountability in the procurement and management of military hardware to restore public confidence.

Continue Reading

NEWS

‘NYSC Has Outlived Its Usefulness, Should Be Scrapped’ — Shehu Muhammad

Published

on

Gombe NYSC Prioritises Safety of Corps Members

Rights activist and public affairs analyst, Shehu Mohammed, has called for the scrapping of the National Youth Service Corps (NYSC), saying the scheme has outlived its usefulness amid growing security concerns across the country.

Shehu made the call on Wednesday during an interview on Channels Television’s The Morning Brief, while reacting to the kidnapping of prospective corps members travelling to orientation camps in Akwa Ibom and Anambra states.

He described the incident as “one incident too many,” noting that kidnapping, maiming and the detention of victims in kidnappers’ camps had become frequent in several parts of the country.

SEE ALSO: 2027: North Should Back South-West To Complete 8 Years In Power — Shehu Sani

“I think it is just a case of one incident too many. There are more unreported cases of kidnapping and maiming and detention in kidnappers’ den, almost all over the country, especially in the northern part of the country: the Middle North West, North East, and North Central. It’s a daily, daily happening,” Sani said.

He said the security situation had made him question the continued relevance of the NYSC scheme, which was established to promote national unity.

“When Bukola was saying that she objects to the scrapping of NYSC, I tend to take a different view. My view is that the entire NYSC was meant to unite Nigeria, but if in uniting Nigeria you lose your daughter, you lose your son, you lose your uncle, you lose your sister, you lose your neighbour, then it’s not worth the trouble,” he said.

Shehu argued that corps members should instead be allowed to serve in their respective states, eliminating the need for young Nigerians to travel long distances to orientation camps.

“This NYSC issue should be scrapped, removed from the constitution, allow each and every corps member to serve in his own state, traveling with all the dangers, with all the costs,” he said.

He also highlighted the financial burden placed on families when corps members are posted far from their home states.

“If a child is going from Katsina to Anambra State to report to the camp, minimum that you give him is three hundred thousand naira for transfer cost, three hundred. How many parents have three hundred thousand naira to give their wards?” Sani asked.

He said the financial burden was only one aspect of the problem, with corps members also facing security risks and possible trauma during interstate travel.

“Minus all the dangers, the consequences, the uncertainties, the traumas involved. If your child has to go through a trauma, through uncertainty, through pain, through kidnapping, through raping, eventually through killing, why do you have to go for NYSC?” he said.

“As far as I’m concerned, the NYSC project has outlived its usefulness. It should be scrapped.”

Shehu also warned that kidnapping in Nigeria was taking a new dimension, with criminal groups increasingly targeting vulnerable groups.

“Corps members are vulnerable groups. Travelers for commercial purposes all over the country are vulnerable groups. Therefore they are now going for soft targets,” he said.

According to him, kidnappers also use abductions to blackmail victims’ families and government authorities into paying ransom.

“The next one is blackmailing either the parents or blackmailing government to collect money,” he said.
Sani alleged that ransom payments were subsequently used to finance criminal activities.

“So they can finance their arm purchase. They can finance their purchase of hard drugs to enable them operate without pity and compassion, and to send permanent fear into the community,” he said.

He added that the kidnappers were using their activities to create fear within communities, despite being relatively few in number.

Continue Reading

Copyright © 2022. Biztellers, powered by Alphaxristi.

1
0
Would love your thoughts, please comment.x
()
x