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Senate passes 2023 Appropriation Bill for second reading

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–— Suspends Plenary to Nov 15th for budget defence 
The Senate on Wednesday passed for a second reading the 2023 Appropriation Bill which was presented to the National Assembly by President Muhammadu Buhari last Friday.
The bill seeks to authorise the issue out of the consolidated revenue fund of the federation the total sum of 20,507,942,180,704 for the year ending on 31st December, 2023.
After the bill passed for a second reading following a debate on its general principles, the Senate suspended its plenary until 15th November, 2022 to enable its Committees embark on budget defence with relevant Ministries, Departments and Agencies (MDAs).
Leading the debate on the bill, the Senate Leader, Abdullahi Gobir said based on the budget fiscal assumptions and parameters, the current expenditure which is constituting over 43% of the total budget outlay is still too high.
According to Gobir, the current expenditure contained personnel costs, pensions, benefits and over heads that are expenses that are necessary for stabilising the government and the polity.
He said, “it is expected that the total operations of the Federal Government to result in a deficit of N10.78 trillion Naira. This represents 4.78% of estimated GDP, above the 3% threshold set by the Fiscal Responsibility Act 2007.
“Countries around the world have of necessity over-shoot their fiscal thresholds for their economies to survive and thrive.
“There is a need to exceed the threshold considering the administration collective desire to continue tackling the existential security challenges facing the country.
“It is important to point out that issues of revenue shortfall and meeting unexpected emergencies can only be tackled either by borrowing or cutting expenditure, shrinking the economy and government and social services, rationalisation, job cuts etc.
“While the first option will pile up debts which must be paid in the future, it allows you to survive the present and stabilize to enable you to device the means of paying the debt. If invested properly, debt could provide one with the platform and capacity to pay the debt itself and catapult into a brighter future.
“The second option which is more dangerous is to shrink the economy and risk political suicide and economic turbulence by sacking workers, obliterating opportunities, cutting social service and starving our communities to death and Oblivion.
“To finance the deficit therefore is to engage in new browings totalling N8.80 trillion; N206.18 from privatisation proceeds and N1.77 trillion drawdowns on bilateral/multilateral loans secured for specific development projects/programmes”.
“Although there is a growing concern over this administration resort to borrowing to finance fiscal gaps, let me state here that the debt level of the Federal Government is still within sustainable limits.
“Very importantly, these loans are used to finance critical development projects and programmes aimed at improving our economic environment and ensuring effective delivery of public services to our people.
“Nevertheless,  it is also important to note that a budget deficit of this size requiring more indebtedness is not healthy for the long term development of the country, but this must be tolerated now because of the challenges of the time.
“It is important, above all to note that this is a budget of fiscal sustainability and transition with the principal objective of maintaining a fiscal viability and ensuring a smooth to the transition to the incoming administrations.”
In his remarks, the Senate President Ahmad Lawan bemoaned the huge loss of revenue due to high scale oil theft and called for appropriate sanctions against the pepetrators.
Lawan charged the committees of the Senate to, in the course of the budget defence, ensure critical scrutiny of the submissions and trace any leakage or wastages contained in it.
He futher called on them to give more priority on the completion of on going projects rather than initiating new ones to avoid incidents of abandoned projects, particularly now that the present administrtaiion is on its last lap.
The Senate President referred the bill to the Senate Committee on Appropriation for further legislative process, to report back in four weeks.

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Tinubu Accelerates Northern Rail Projects, Kaduna-Kano Line Set for December 3 Inauguration

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President Bola Ahmed Tinubu has intensified efforts to complete major railway projects across Northern Nigeria, with the Kaduna–Kano Standard Gauge Railway scheduled for inauguration on December 3, 2026.

The 203-kilometre Kaduna–Zaria–Kano railway project has reached approximately 90 per cent completion, while the 400-kilometre Kano–Katsina–Maradi railway project has attained 70 per cent completion.

According to the Federal Government, both projects have recorded significant progress since the Tinubu administration assumed office in 2023. The Kano–Katsina–Maradi project was reportedly at just five per cent completion, while the Kaduna–Kano line was below 30 per cent.

The projects form part of the administration’s commitment to expanding Nigeria’s railway network, improving regional connectivity and facilitating the movement of passengers and goods across the country and beyond.

The Kaduna–Kano railway, an extension of the existing Abuja–Kaduna Standard Gauge Railway, is expected to establish a continuous rail connection between Abuja, Kaduna, Zaria and Kano, strengthening transportation links among key commercial centres in Northern Nigeria.

To assess the level of progress, President Tinubu recently directed a Federal Government inspection team, led by the Permanent Secretary of the Federal Ministry of Transportation, Engr. Funso Adebiyi, to inspect the projects.

Adebiyi expressed satisfaction with the quality of construction work, particularly the railway alignment, drainage systems, embankment protection, stone pitching and soil stabilisation.

The inspection also featured a train test run from Jaji in Kaduna State to Kano, enabling officials to assess the completed track infrastructure and passenger comfort.

President Tinubu has further directed that outstanding land acquisition and compensation issues within Kaduna metropolis be resolved immediately to facilitate the completion of the railway corridor connecting Abuja to Kano.

The Federal Government disclosed that the completed 190-kilometre Jaji–Kano section of the Kaduna–Kano railway, alongside the 250-kilometre Dawanu–Kano–Kazaure–Daura–Katsina section of the Kano–Maradi project, is scheduled for inauguration on December 3, 2026.

When fully operational, the Kaduna–Kano railway is expected to ease passenger movement, boost commercial activities and provide a safer alternative to road transportation along one of Northern Nigeria’s busiest economic corridors.

Similarly, the Kano–Katsina–Maradi railway is expected to enhance cross-border transportation, strengthen regional trade and deepen economic relations between Nigeria and neighbouring Niger Republic.

The Federal Government reiterated its commitment to ensuring that ongoing infrastructure projects across the country are completed and delivered in line with their scheduled timelines.

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FG Begins ₦50,000 Monthly Cash Relief for Vulnerable Nigerians

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The Federal Government has commenced a monthly cash relief programme offering ₦50,000 to vulnerable Nigerians to cushion the effects of rising living costs and economic hardship.

The Minister of Humanitarian Affairs and Poverty Reduction, Bernard Doro, disclosed this in a statement issued on Friday in Abuja, announcing the National Emergency Relief and Stabilisation Intervention (NERSI), a presidential initiative aimed at providing direct financial support to millions of vulnerable households.

Doro said the intervention was introduced in response to global food inflation and rising prices of essential goods, which continue to put pressure on household finances.

Under the programme, eligible beneficiaries will receive ₦50,000 monthly to help meet essential needs and ease the burden of the rising cost of living.

The minister explained that the intervention would be reviewed periodically in line with prevailing economic conditions, with beneficiaries notified directly before any adjustment.

He said the ministry was working with licensed digital financial service providers to ensure secure, transparent and timely disbursement of the funds.

According to him, beneficiaries will receive text messages from the providers seeking their consent before payments are made directly into their bank accounts or mobile wallets.

Doro clarified that beneficiaries are not required to apply, pay any fee or register through agents to access the programme.

He warned Nigerians against fraudsters, urging them not to disclose their Personal Identification Numbers (PINs) or Bank Verification Numbers (BVNs) to anyone.

The minister advised those uncertain about any message or facing demands for payment to contact the official NERSI helpline on 0700-022-2222.

He said the intervention complements existing Federal Government social protection and economic support programmes, while strengthening household resilience and economic stability.

Doro added that the initiative aligns with President Bola Tinubu’s Renewed Hope Agenda and underscores the ministry’s commitment to delivering social support with dignity, transparency and accountability.

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Ekiti Bureau Congratulates Oyebanji, Prioritises Curbing Capital Flight

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The Ekiti State Bureau of Local Content has congratulated Governor Biodun Oyebanji on his inauguration for a second term in office, pledging to prioritise efforts to address capital flight and strengthen the state’s economy.

The Bureau, in a congratulatory message issued by its management, and signed by the director of Admin Mr Tope Fasoyin, described the governor’s second-term inauguration as an opportunity to consolidate the achievements of his first tenure and advance policies aimed at promoting sustainable economic development in the state.

 

The agency reaffirmed its commitment to supporting the governor’s vision of retaining more economic resources within Ekiti State through effective implementation of local content policies.

 

It said efforts would be intensified to promote the participation of indigenous businesses in government projects, encourage patronage of locally produced goods and services, and create more opportunities for local contractors, suppliers, and service providers.

 

According to the Bureau, prioritising local content would help reduce capital flight, stimulate indigenous enterprise, create employment opportunities, and ensure that more economic benefits accrue to the people of Ekiti State.

 

The management also pledged to collaborate with relevant stakeholders to ensure that the governor’s economic development agenda is translated into tangible benefits for residents.

 

It expressed confidence that Governor Oyebanji’s second term would bring renewed opportunities for economic growth, investment, and sustainable development across the state.

 

The Bureau wished the governor a successful and impactful second term in office.

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