Budget
Lagos speaker: I’ll assist LASU to become world class institution
The Speaker, Lagos State House of Assembly, Mudashiru Obasa, says he will work toward ensuring that Lagos State University (LASU), Ojo, becomes a world class institution through appropriate legislation. Obasa made the promise while receiving the institution’s Alumni Association led by its Vice President, Norrison Quakers, a Senior Advocate of Nigeria (SAN), on Wednesday in Lagos. He said this is to ensure that the institution catches up with the top tertiary institutions across the world. The speaker said the House had always ensured that requests involving LASU were prioritised in the budget to enable the institution to meet the accreditation requirements of the Nigeria University Commission (NUC). He said that currently, there was hardly any institution in the country that LASU could not...
Nigerian Army appoints new GOCs, PSO, others
The Nigerian Army has announced the appointment of new General Officers Commanding, Principal Staff Officers, commandant of tri-service institution and army training centres, corps commanders, among other positions to man the various divisions, units and commands of the service. Director, Army Public Relations, Brigadier-General Mohammed Yerima, who made this known on Saturday, said the redeployment, approved by Chief of Army Staff Lieutenant-General Ibrahim Attahiru, is aimed at repositioning the service for optimal performance. He said all the postings and appointments takes effect from March 10, the COAS urged the new appointees to carry out their responsibilities in the most professional manner and with absolute loyalty to the Commander-in-Chief and in defence of the Constitution of th...
Barcelona, Atletico Madrid ordered to further tighten belts by La Liga
FC Barcelona and Atletico Madrid will have to cut down the costs of their squads by more than 35 million euros ($42.14 million) following new salary limits imposed by La Liga on Tuesday to cope with the financial impact of the Covid-19 pandemic. The figures, published twice annually following each transfer window, dictate how much teams can spend on players, coaches, support staff and their youth teams. They are calculated in line with revenues, which have been obliterated by coronavirus restrictions preventing fans from attending matches for 12 months while depressing the transfer market and reducing income from merchandising. Barcelona are the club most acutely affected by the new limits and will be forced to reduce their costs by an additional 35.7 million euros, to 347 million. League ...
How ICPC is combating corruption in MDAs, stopped diversion of N189 billion personnel cost
File Photo In the past few years, the Independent Corrupt Practices and Other-Related Offences Commission, as part of its statutory mandate, has been conducting systems study and review of ministries and organisations in the federal public service. The overall objective of a system review is reform of the systems and procedures of public agencies with a view to identifying and eliminating, preventing, blocking and obstructing opportunities for corruption. To achieve this, the exercise targets detecting areas of vulnerabilities, actual weaknesses, leakages and corruption risks and to recommend ways of strengthening these systems and removing the discretionary gaps and such opportunities for both individual and institutional malfeasance on public resources. In addition, the review also targe...
How ICPC is combating corruption in MDAs, stopped diversion of N189 billion personnel cost
File Photo In the past few years, the Independent Corrupt Practices and Other-Related Offences Commission, as part of its statutory mandate, has been conducting systems study and review of ministries and organisations in the federal public service. The overall objective of a system review is reform of the systems and procedures of public agencies with a view to identifying and eliminating, preventing, blocking and obstructing opportunities for corruption. To achieve this, the exercise targets detecting areas of vulnerabilities, actual weaknesses, leakages and corruption risks and to recommend ways of strengthening these systems and removing the discretionary gaps and such opportunities for both individual and institutional malfeasance on public resources. In addition, the review also targe...
Big Sam explains why West Brom abandoned Ahmed Musa deal
West Brom manager Sam Allardyce has revealed the reason behind the Baggies decision not to offer Ahmed Musa a contract at the end of his trials with the club. Allardyce insists West Brom weren’t in a position to sign Musa on a short-term deal after the loan captures of Mbaye Diagne, Okay Yokuslu and Ainsley Maitland-Niles towards the end of the January transfer window. The 28-year-old has been without a club since leaving Saudi side Al-Nassr in October of last year but has previous Premier League experience having joined Leicester City in the summer after they were crowned champions in 2016. “We’d already brought four players in, so it didn’t fall within our budget anymore,” Allardyce was quoted by Birmingham Live. “More players would have had to have left to have funded that one. It’s a s...
Nigerian government approves new debt management strategy
The Federal Executive Council (FEC) has approved a new Medium-Term Debt Management Strategy for Nigeria (MTDS) for the period 2020-2023. With the approval, announced during Wednesday’s virtual FEC meeting, the DMO which is saddled with managing the nation’s debt matters, has promised full implementation to support economic development while ensuring that public debt is sustainable. The MTDS is a policy document which provides a guide to the borrowing activities of the government in the medium-term, usually four years. It is recognised as one of the best practices in public debt management and is recommended by the World Bank and International Monetary Fund (IMF) to ensure that public debt management is driven by a well-articulated strategy that is structured to meet a country’s broader mac...
Nigerian legislature poorest in the world – Reps spokesperson
The Spokesperson of the House of Representatives, Benjamin Kalu, on Tuesday said the National Assembly is the poorest parliament in the world. Kalu stated this while responding to a question on the status of investigative reports and alleged compromise of the lawmakers on some of the reports. He refuted the claims of compromise and blamed COVID-19 for the delays on consideration of the reports. Kalu added that the lawmakers are falling sick due to pressure from constituents making financial demands. “As per being compromised, you would have seen it on the lawmakers. This is the poorest parliament. You don’t see the lawmakers living in luxury. Compromised with what? With position or money? These guys are suffering,” Kalu said. “That is why most of the sickness they are passing through are h...
NESG: Nigerian economy to beat IMF growth forecast in 2021
The Nigerian Economic Summit Group has predicted a growth rate of 2.9 per cent for the Nigerian economy in 2021, higher than the 1.5 per cent growth rate suggested by the International Monetary Fund. The NESG identified eight key policies and events that will help shape the outlook of Nigerian economy in 2021. This is contained in the group’s 2021 Macroeconomic Outlook Report titled, “Four Priorities for the Nigerian Economy in 2021 and Beyond,” launched virtually on Tuesday. According to the report, for Nigeria’s economy to get back on track, the economy needs a high, robust and sustained economic growth that will deliver a significant reduction in unemployment and poverty. The report said the government’s most important agenda in 2021 must be to address these problems as a foundation for...
Coronavirus takes toll on federal roads’ construction in Lagos
The ravaging effect of Coronavirus (COVID-19) was, perhaps, the biggest challenge faced by stakeholders in the road sub sector of the construction industry in 2020. As the virus gained ground, several contractors soon abandoned work and shut their operations, consequently, many hitherto gainfully employed Nigerians were thrown into the labour market. Even when the government later introduced partial lockdown measures, the number of workers on site was scaled down by many contractors in line with COVID-19 protocols, which slowed down progress of work. Virtually all road projects in Lagos State suffered the effect of the pandemic, with every project having its own peculiar challenge. The reconstruction of 46km Agbara-Seme section of the Lagos-Badagry Expressway project awarded to CGC Nigeria...
#EndSARS: It’ll take long to rebuild destroyed property – Governor Sanwo-Olu
Governor Babajide Sanwo-Olu of Lagos State, said, yesterday, that it would take the state time to rebuild the properties destroyed during the EndSARS protests. This came on a day the Lagos State government disclosed that the 2021 budget of N1.164 trillion would be funded from a revenue estimate of N971.028 billion in the fiscal year, with a target on the expansion of tax nets. Governor Sanwo-Olu stated this while briefing State House correspondents, after meeting behind closed doors with President Muhammadu Buhari, at the Presidential Villa, Abuja. He said the meeting dwelt more on the second wave of the Coronavirus pandemic, security situation and the impact of the #EndSARS protests in the state. On rebuilding Lagos after the EndSARS protests, he said: “It is also some of the things I dis...
NANS: Nigerian government’s 2021 budget for education worst in 10 years
The President of the National Association of Nigerian Students (NANS), Com. Sunday Asefon, has frowned at the 2021 budgetary provision for education under President Muhammadu Buhari, describing it as the worst in the last ten years in the country. Disturbed by the neglect of the education sector, which was apportioned with a paltry of 5.6 percent in the 2021 budget and the high level of insecurity in the country, NANS has planned to organise a Security and Education Summit to partner stakeholders on how to arrest the drift in the two critical sectors Asefon said this in Ado-Ekiti, on Thursday, during a courtesy visit to the office of the Nigeria Union of Journalists, Correspondents’ Chapel, Ekiti chapter. He said: “I condemn totally, the federal government’s 2021 budgetary provision to edu...
