Politics

Reps pass 2024 budget for second reading

The House of Representatives, on Friday, concluded the debate on the general principles of the N27.5 trillion budget proposal for 2024 fiscal year.

In line with extant legislative practice, the Appropriation bill was referred to the joint House Committees on Appropriations, Finance and other relevant Standing Committees for further legislative action.

In the bid to fast-track the legislative process for the passage of the Appropriation bill and meet the already established January-December budget cycle, the House is expected to adjourn plenary to engage with Ministers and Permanent Secretaries of various Ministries, Departments and Agencies (MDAs).

According to the timetable released by the House, President Bola Ahmed Tinubu has proposed N3.25 trillion representing 12 percent and N2.18 trillion representing 7.9 percent of the N27.554 trillion for security and education sectors in the 2024 fiscal year.

Among the critical allocations in 2024 budget, N700 billion Transfers to the Tertiary Education Trust Fund (TETFUND) for infrastructure projects in Tertiary institutions.

Amount provisioned for Universal Basic Education Commission (UBEC) is N251.47 billion, Federal Ministry of Education and its agencies (Recurrent & Capital expenditure) is N1.23 trillion, Health Sector gets N1.33 trillion i.e. 5% of federal budget Amount provisioned for Federal Ministry of Health and its agencies (Recurrent & Capital expenditure) while N137.21 billion is for Gavi/ Immunization funds, including Counterpart Funding for Donor Supported Programmes while the sum of N125.74 billion Transfer is set aside for Basic Healthcare Provision Fund (BHCPF) 1% of Consolidated Revenue Fund (CRF).

According to the document seen by Nigerian Tribune, Defence & Security Sector (N3.25 trillion) gets 12% of Budget while Military, Police, Intelligence & Paramilitary (Recurrent & Capital expenditure) Infrastructure stands at N1.32 trillion representing 5% of the budget.

This includes provisions for Works & Housing, Power, Transport, Water Resources, Aviation. Social Development & Poverty Reduction Programmes (N534 billion) – (2% of Budget) amount provisioned for Social Investments / Poverty Reduction Programmes

As of September 2023, FGN’s retained revenue was N8.65 trillion, approximately 104.5% of the pro-rata target of N8.28 trillion.

The FGN share of oil revenues was N1.42 billion (84.7% performance), while non-oil tax revenues totalled N2.50 trillion (a performance of 135%). CIT and VAT collections were N1.55 trillion and N318.95 billion, representing 221.4% and 111% of their respective targets.

Customs collections (made up of import duties, excise and fees, as well as federation account special levies) recorded N611.65 billion out of N837.59 billion (73% of target). Other revenues amounted to N4.74 trillion, of which Independent revenue (mostly transfers from GOEs and MDAs) was N1.28 trillion.

As stipulated in the overview of the 2023 Federal Government’s expenditure performance, the aggregate expenditure for FY 2023 (inclusive of the supplementary budget) is estimated at N24.82 trillion, with a pro-rata spending target of N18.62 trillion at the end of September.

The actual spending was N12.7 trillion. Of this amount, N5.79 trillion was for debt service, and N3.78 trillion for Personnel costs, including Pensions.

Only about N1.47 trillion (25% of the pro-rata budget) has been released for MDAs’ capital expenditure as of September 2023. This level of performance is partly explained by the introduction of the “Bottom-up

Cash Plan” arrangement with effect from 2023.

The projected fiscal deficit for FY 2023 is N13.79 trillion, with a pro rata deficit of N10.33 trillion at end of September.

The actual deficit was N4.05 trillion and was mainly financed by domestic borrowing.

Politics

N’Assembly threatens zero allocation to JAMB over N1b spent on meals, refreshments

NASS Transmits Constitution Amendment Bills To State Assemblies

The National Assembly Joint Committee on Finance has threatened to cut off the Federal Government’s grant to the Joint Admissions and Matriculation Board (JAMB) in the 2025 budget proposal over excessive spending.

This decision was made after JAMB Registrar, Prof. Ishaq Oloyede presented the agency’s 2025 budget proposal to the Joint Committee of the Senate and House of Representatives.

According to Oloyede, JAMB remitted N4 billion to the Consolidated Revenue Fund in 2024 but received a grant of N6 billion from the Federal Government.

This sparked criticism from committee members, including Hon. James Abiodun Faleke and Senator Adams Oshiomhole, who questioned why a self-funding agency like JAMB should receive government allocations.

Faleke asked: “Why not keep the N4 billion and stop government funding for JAMB?” Oshiomhole also slammed JAMB for its expenses, including N1.1 billion on meals and refreshments, N850 million on security and cleaning.

Faleke asked: “Why not keep the N4 billion and stop government funding for JAMB”? Oshiomhole also slammed JAMB for its expenses, including N1.1 billion on meals and refreshments, N850 million on security and cleaning, and N600 million on local travels. He demanded justification for the N6.5 billion spent on local trainings, asking, “What did you fumigate? Is it mosquitoes that took all this money?”

“You remitted N4 billion and got N6bn f on the Federal Government. Why not keep the N4bn and we stop. the government from funding JAMB,” the Chairman, House Committee on Finance, Faleke asked.

“You spent N1.1 billion on meals and refreshment. Are you being freely fed by the government? What this means is that you are spending the money you generate from poor students, many of them orphans.

“You also spent N850m on security, cleaning and fumigation in 2024.What did you fumigate? Is it mosquitoes that took al this money”? Oshiomhole asked

The former Edo State Governor also slammed JAMB for spending N600m on local travels even as he called on Oloyede to justify the N6.5 billion on local trainings.

Politics

Mojisola Meranda emerges new Lagos Assembly Speaker

Mojisola Meranda has emerged as the new Speaker of the Lagos State House of Assembly.

This development comes after the impeachment of former Speaker Mudashiru Obasa.

Meranda, who represents Apapa Constituency I, was previously the Deputy Speaker of the 10th Assembly.

She has been a member of the Lagos State House of Assembly for three consecutive terms, starting from 2015.

With her new role, Meranda is expected to lead the House and ensure the passage of laws that benefit the people of Lagos.

Politics

Gov. Adeleke breaks silence on report of ‘defection to APC’

Governor Ademola Adeleke of Osun State has rubbished reports claiming that he has made several attempts to join the All Progressives Congress (APC).

The governor gave his response to the defection report on Monday via a statement issued by his media aide Mallam Olawale Rasheed.

According to Olawale, the report of defection is fake and from a pit of hell.

Olawale further said: “The report reflects the depth of unelectability of the APC in the 2026 guber election as the opposition is at a crossroad over acute short supply of electable aspirants. The opposition has noticed the futility of fielding the former Governor, confused over the cantankerous nature of Senator Ajibola Bashiru and in disarray over the featherweight, Oyebamiji from Ikirre whose traditional leaders have endorsed a second term bid for Governor Adeleke.

“By the fake reports, the opposition is indirectly preparing for the possibility and eventuality of a second term win for the State Governor. The ‘Imole’ winning signal must have become so clear that the state APC is surrendering to the reality that God, the people and even federal authorities have affirmed the re-election of Mr Governor even before 2026.

“I will put on record that Governor Adeleke has never at any time hosted any meeting on defection either within or outside the country. A very popular Governor with over 85 percent approval rating is the doyen of all stakeholders at subnational and federal levels. Recent report confirmed that the state APC under the former Governor has lost more than 65 percent of its followership to the PDP because of the Governor’s acclaimed superlative performance.

“Mr Governor enjoys the confidence of the Presidency and top federal officials because he concentrates on good governance delivery and patriotic collaboration with the Federal Government on federal- national programmes. As a state governor, he prioritises positive partnership for service delivery instead of political bickering which retards rather than advance development.

“Mr Governor is also a passionate believer that President Bola Tinubu must succeed in his efforts to reform the national economy for several reasons. We all know that the success of President Tinubu is the success of all Yoruba sons and daughters as well as of all patriotic Nigerians. So supporting the President is a national duty as far as Governor Adeleke is concerned.

“There is however no plan whatsoever by the Governor to defect to the APC. We pity the APC for its crisis of unelectability. It is apparent that Governor Adeleke is unbeatable, hence there is a crisis of electoral strategy within Osun APC. That crisis within the opposition will get more compounded if the Osun APC continues on the path of fake news and concerted falsehood

“It is not wrong neither is it bad if the Osun APC can simply abandon futile efforts of fielding a candidate in 2026.

“As the former Governor cannot beat Governor Adeleke, neither Senator Bashiru nor Oyebamiji can scratch the solid re- election assurance of the incumbent.”