Budget

VP Osinbajo: How grassroots planning helped our social investment programmes

One factor responsible for the impactful implementation of the Social Investment Programmes of the Buhari administration over the years is the realization that you can’t reach Nigerians if you don’t have a plan for the grassroots, according to Vice President Yemi Osinbajo, SAN. This realization then influenced the structure designed for the SIP and is largely responsible for the successes of the programme (which is now regarded as one of the biggest social welfare schemes in the continent). Prof. Osinbajo stated this Sunday in Lagos at the inauguration of the Dash Me Store, an outfit of the Dash Me Foundation founded by the immediate past Finance Minister, Mrs Kemi Adeosun. The store is established to mobilize resources for onward distribution to vulnerable people in the society via grassr...

PSG steals Georginio Wijnaldum from Barca’s grips with better offer

Liverpool’s Dutch midfielder, Georginio Wijnaldum, who had been a long-time target to firm up the Catalan midfield for Barcelona, made a sudden volte face by deciding for former French Ligue champions Paris Saint-Germain instead. Just when the details of his move from former English Premier League champions Liverpool were almost fully sorted with arrangements on course for Wijnaldum’s medicals at Camp Nou, PSG jumped ahead to challenge for the midfielder’s interest with a juicier offer which appears to have worked in their favour. The Ligue 1 side has now won the race to sign 30-year-old central midfielder on a free transfer from Liverpool. PSG found their way around advanced talks between Wijnaldum and Barca by showing the defender their determination to attract him to Paris by improving ...

Nigerian government mulls deployment of GPS to monitor constituency projects, expenditure

The Federal Government, yesterday, considered the deployment of Global Positioning System (GPS) across the six geopolitical zones, in a bid to monitor constituency projects and expenditure. It also considered a bottom-up approach in the siting and location of zonal/constituency projects to enhance and ensure ownership by the constituents. This was contained in a communiqué issued at a 2-day stakeholders’ interactive forum organized by the Ministry of Special Duties and Intergovernmental Affairs, yesterday in Abuja. The communiqué which was signed by Simon Tyungu, a Special Adviser to the Minister of Special Duties and Intergovernmental Affairs, George Akume, added that ICT platforms should be created for monitoring and evaluation of projects to reduce physical exercise. According to him, “...

Nigerian government approves N9.2 billion premium for civil servants’ life insurance

The Federal Executive Council (FEC) has approved the sum of N9.2billion as premium to insurance companies that will manage the group life insurance for federal civil servants in the country. Minister of Information and Culture Lai Mohammed revealed this when he briefed State House correspondents on the outcome of the Council meeting which was presided over by President Muhammadu Buhari in Abuja on Wednesday. He said: “On behalf of the Head of Civil Service of the Federation, I will like to report that council today approved the award of contract for the appointment of insurance companies for group life assurance for federal government employees, public servants, para-military and the intelligence community for the year 2021-2022 in the sum of N9, 248. 995, 907. “This premium is for a perio...

House displeased with EFCC over delay in disposal of recovered N46 billion from ex-oil minister

The House of Representatives has expressed displeasure with the Economic and Financial Crimes Commission (EFCC) over the delay in disposing of the N46 billion assets seized from the former Petroleum Minister, Mrs Diezani Alison-Madueke. The Chairman of the Ad hoc Committee on Assessment and Status of All Recovered Loots Movable and Immovable Assets from 2002 to 2020 by Agencies of the Federal Government of Nigeria for Effective Efficient Management and Utilisation, Hon. Adejoro Adeogun, expressed his displeasure on Friday when the Chairman of the EFCC, Mr. Abdulrasheed Bawa, appeared before the committee. The chairman of the committee opined that it was not ideal to continue keeping such recoveries as they were losing value over time. He said: “Given the financial situation of Nigeria, sho...

SERAP urges President Buhari to tell Nigerians spending plan for James Ibori loot, others

The Socio-Economic Rights and Accountability Project (SERAP) has urged President Muhammadu Buhari to “urgently direct Mrs Zainab Ahmed, Minister of Finance, Budget and National Planning to disclose spending details of the $700 million looted funds reportedly recovered by the Federal Government in the past four years, including the list and location of projects completed with the money, as well as details of the contractors that executed the projects.” SERAP also urged him to “direct Mrs Ahmed to disclose how the government plans to spend the returned £4.2m Ibori loot, including details of planned capital expenditure, and whether there is any plan to ensure that the money and any future returned Ibori loot would be spent to achieve justice and effective remedies for victims of corruption in...

President Buhari arrives Paris for Financing Africa Summit

President Muhammadu Buhari has arrived in Paris for the Financing Africa Summit. The president left Abuja Sunday for the summit which is being hosted by President Emmanuel Macron of France. According to Buhari’s spokesperson, Garba Shehu, the summit will draw major stakeholders in the global finance institutions and some Heads of Government, who will, collectively, discuss external funding and debt treatment for Africa, and private sector reforms. “During the visit, President Buhari will meet with the French President to discuss growing security threats in Sahel and Lake Chad region, political relations, economic ties, climate change and partnership in buoying the health sector, particularly in checking spread of Covid-19, with more research and vaccines. “Before returning to Nigeria, Pres...

Report: Barcelona open to selling Antoine Griezmann for the right price

Italian Sky Sports journalist Matteo Moretto has proclaimed that Barcelona are willing to sell French superstar Antoine Griezmann in the summer if they were to receive an adequate offer, in order to try and ease the pressure on their accounts. After a far from optimal start to his stint in Garnet and Blue, Griezmann has largely managed to turn his fortunes around. He has established himself as a very useful asset for Barcelona, and proved to be an instrumental part of the Catalans’ Copa del Rey triumph. However, despite his turn of form, there has been constant speculation regarding Antoine Griezmann’s departure from Barcelona. Considering the massive cost of his transfer from Atletico Madrid two seasons ago and his high wages, the club might be open to a sale in the summer. The upcoming t...

President Buhari presides over FEC meeting — in pictures

President Muhammadu Buhari is presiding over the 44th virtual meeting of the Federal Executive Council (FEC). The weekly meeting holding at the First Lady’s Conference Hall at the State House, Abuja, is being attended by Vice-President Yemi Osinbajo, Secretary to the Government of the Federation, Boss Mustapha and Chief of Staff to the President, Prof Ibrahim Gambari. The ministers who are also physically attending the meeting include those of Information and Culture, Lai Mohammed; Finance, Budget and National Planning, Zainab Ahmed; Justice, Abubakar Malami; Industry, Trade and Investment; Adeniyi Adebayo; and Power, Mamman Saleh. Other ministers, as well as the Head of Service of the Federation, Dr. Folasade Yemi-Esan, are participating in the weekly cabinet meeting from their various of...

BudgIT: Over 315 capital projects duplicated in 2021 budget

BudgIT BudgIT, a civic-tech non-profit organisation, says it has uncovered 316 duplicated capital projects worth N39.5 billion in the 2021 budget. In a statement, Iyanu Fatoba, communications associate at BudgIT, said the organisation’s findings is contained in its publication titled, “Demanding Budget Reforms for Resource Optimization”, released on Tuesday. On December 31, President Muhammadu Buhari signed the 2021 appropriation bill of N13.588 trillion into law. The signing was done more than a week after federal lawmakers passed the budget and raised its total sum by N508 billion. Speaking on the report, Gabriel Okeowo, BudgIT’s CEO, said out of the identified 316 duplicated projects, 115 are in the ministry of health. He said the development is “very disturbing” as the country is battl...

Senate passes amended AMCON bill, empowers agency to seize debtors’ assets

The Senate Wednesday passed the Asset Management Corporation of Nigeria Amendment bill after considering the report of its Committee on Banking, Insurance, and Other Financial Institutions. The amendment bill passed by the upper chamber empowers the Assets Management Corporation of Nigeria to, among others, take possession, manage or sell all properties traced to debtors, whether or not such assets or property is used as security/collateral for obtaining the loan in particular. It also empowers the corporation to access the Special Tribunal established by the BOFIA, 2020 for dealing with financial related matters. Presenting the report, Chairman of the Committee, Senator Uba Sani (APC, Kaduna Central) said the Committee engaged with stakeholders such as AMCON, Federal Ministry of Finance, ...

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