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Buhari seeks Senate approval for N895.84bn supplementary budget

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President Muhammad Buhari
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The Senate on Tuesday received a supplementary appropriation bill from President Muhammadu Buhari to approve the sum of N895.842,465,917 billion as supplementary budget for the 2021 fiscal year.

The bill was transmitted with a letter dated 15th June, 2021, and addressed to the President of the Senate, Ahmad Lawan.

President Buhari, in the letter which was read during the commencement of plenary, explained that the amount captured was proposed to fund the COVID-19 vaccine programme.

He added that part of the supplementary budget would be used to also fund health related expenditures for treatment of additional 50,000 patients under the Nigeria Comprehensive AIDS Program in states; as well as to procure additional equipment captured in this year’s capital expenditure on Defence and Security to tackle prevalent security challenges across the country.

The letter reads: “Let me seize this opportunity, to express my deep gratitude, for the cooperation and support, of the Leadership and Distinguished Members of the Senate, in our collective efforts to contain the COVID-19 Pandemic and address the various security and other challenges facing the country.

“It has become necessary to prepare the 2021 Supplementary Appropriation Bill considering the urgent need to make provision for procurement and administration of COVlD-19 vaccines.

“The availability of COVlD-19 vaccines and the procurement terms were still uncertain as at the time of finalising the 2021 budget. Hence, there was no provision in the 2021 Appropriation Act for the procurement and administration of COVID-19 vaccines.

“However, the Federal Ministry of Health and the National Primary Healthcare Development Agency (NPHCDA) have now developed a Covid-19 vaccine programme for the country. Under the vaccine programme, 70% of eligible Nigerians are to be vaccinated between 2021 and 2022.

“In addition, our security and law enforcement agencies urgently need to procure additional equipment and other resources in response to the prevalent security challenges across the country.

“The Ministry of Defence has carefully scrutinized these procurement needs, which the military authorities claim to represent the minimum requirements to secure our country and address current external and internal security challenges.

“Furthermore, additional funds are required to meet our commitment to treat additional 50,000 patients under the Nigeria Comprehensive AIDS Program in States (NCAPS), as the amount provisioned in the 2021 Appropriation Bill for this purpose was inexplicably cut by the National Assembly.

“In order to address the urgent problem of oxygen availability in the country and avoid the potential loss of lives, provision was made for the procurement and installation of new oxygen plants nationwide and repairs of oxygen plants in FCT hospitals.

“It is also necessary to provide additional funds for Public Service wage Adjustment to cater for sundry wage-related issues in the health and other sectors, which if not resolved can add to the prevalent sense of instability in the polity.

“The Supplementary Budget request is for a total sum of N895, 842, 465, 917 (Eight Hundred and Ninety-‘Five Billion, Eight Hundred and Forty-Two Million, Four Hundred and Sixty-Five Thousand, Nine Hundred and Seventeen Naira) only.

“We propose to fund N45.63 billion of the N83.56 billion required for the COVlD-19 vaccine programme by drawing on existing World Bank loans (which would be restructured) as well as Other Grants totalling US$113.22 million.

“The balance of N37.93 billion required for COVlD-19 vaccines, salaries and other health-related expenditures totalling N41.69 billion and the N48.20 billion recurrent component of defence/security expenditure will be funded by drawing N135 billion from some Special Reserve/Levy Accounts, which will be captured as revenues to the Federal Government of Nigeria (FGN).

“We propose to fund the balance of N722.40 billion for capital expenditure on defence/security and capital supplementation from new borrowings, in the absence of any supplementary revenue sources.

“Understandably, needs currently abound in many other sectors. However, we have limited the supplementary budget proposal to just these critical and emergency areas of need due to our severe fiscal constraints.

“All other needs would be deferred to the 2022 budget, which we plan to present in September of this years.”

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Business & Economy

Dangote Refinery Will Generate ‘Massive Job Opportunities’ – Aliko

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The President of The Dangote Group, Aliko Dangote, on Monday, said his refinery will generate “massive” job opportunities for the teeming Nigerian youths.

He stated this in Lagos during the commissioning of the 650,000 bpd Dangote Petroleum Refinery and Petrochemicals by President Muhammadu Buhari.

The project is expected to churn out Premium Motor Spirit (PMS), diesel (AGO), aviation jet fuel and Dual-Purpose Kerosene (DPK), among other refined products.

“The refinery operation will generate massive job opportunities in their hundreds of thousands,” he said while highlighting the benefits of the refinery.

“The refinery will make available to our industries vital raw materials to a large range of manufacturers in the pharmaceuticals, food, beverages, construction and many other industries.”

The businessman also expressed thanks for the “massive” support for him and The Dangote Group towards the creation of the Dangote Petroleum Refinery and Petrochemicals plant.

He appreciated Buhari and Nigerians for the immeasurable support his company received from the inception of the project to its completion.

“What I want to share with Nigerians is actually to show my personal gratitude and that of The Dangote Group, for all the assistance that we got from the President, from the Federal Government of Nigeria, from even the President-elect, because he also set the pace by creating the Lekki Free Trade Zone as part of his dream.

“And also we want to thank most especially Governor Fashola, Governor Ambode and most especially Governor Sanwo-Olu; because they have given us all the assistance that we were looking for.

“We thank all Nigerians for giving us their support which is too numerous to mention,” the industrialist said.

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Dangote Refinery To Generate 12,000 Megawatts Of Electricity – CBN

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The Central Bank of Nigeria (CBN) has said that the newly inaugurated Dangote Petroleum Refinery and Petrochemicals will help Nigeria generate more power for its electricity sector.

Speaking today at the inauguration in Lagos State, Governor of the apex bank, Mr Godwin Emefiele, said the Dangote Refinery is expected to generate 12,000 megawatts of electricity.

He further stated that over 135,000 permanent jobs will be available to Nigerians as operations get underway.

According to him, it is also expected that the refinery saves Nigeria between $25 and $30 billion in forex annually.

Like a venture that continues to give, the refinery Emefiele says will further give the economy an inflow of $10billion yearly.

In his opinion, the Dangote Refinery is an indication that Nigeria can produce whatever it Needs.

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SANWO-OLU PRAISES BUHARI, TINUBU, DANGOTE CONTRIBUTIONS TO NIGERIA’S FIRST PRIVATE REFINERY

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President Muhammadu Buhari, Aliko Dangote, Lagos State Governor Babajide Sanwo-Olu ,Senate President Ahmad Lawan and others at the official Commissioning Dangote Refinery in Lagos
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LASG has provided enabling environment for private sector growth, says Dangote

Lagos State Governor, Mr. Babajide Sanwo-Olu, on Monday, said the stories of President Muhammadu Buhari; President-elect, Asiwaju Bola Tinubu and Chairman of Dangote Group, Alhaji Aliko Dangote are a testament that prosperity can be achieved when  leaders have shared vision for the people they are leading.

Sanwo-Olu shared three different stories on how President Buhari, Asiwaju Tinubu and Dangote are connected to the newly commissioned first privately owned refinery in Nigeria, the Dangote Petroleum Refinery in Ibeju-Lekki, Lagos, said the three leaders have shown Nigerians that leadership is about consistency and commitment to Nigeria’s economic growth.

He said: “The vision of Aliko Dangote, President Muhammadu Buhari and incoming President Asiwaju Bola Ahmed Tinubu, is a story of possibility when men have a shared common vision, purpose and they have the possibility that things can happen, things can change and things can be prosperous for the people they are leading.

“These three men; Aliko Dangote, President Muhammadu Buhari, and President-elect Bola Ahmed Tinubu epitomise all the great qualities of great leadership. They have shown us that nothing can be something. They have shown us that leadership is about consistency. It is about showing that whatever it is that you believe in, give it all it takes and at the end of it you will see the results coming out.”

Governor Sanwo-Olu while commending Dangote, said the business mogul is a completely detribalised Nigerian who has impacted many lives positively.

He said: “To our son Alhaji Aliko Dangote, we are indeed truly proud that you have put Nigeria and indeed Africa on that world map in which you have done the very first. We are proud of your belief in your country and your belief in the youth that you are giving the opportunity to. We are proud of the fact that you are a Nigerian that is completely detribalised and you have imbibed it in many ways.

“It is about the opportunity this (refinery) has provided for all the youth and young people of our country. It is about the fact we can say to them the work these three men – Mr. President, Alhaji Dangote, and our incoming president have done and will continue to do.

“It is about our future. It is about providing an opportunity for the youth because over 150,000 direct and indirect jobs that will be created are for our youths; young leaders that are in their 20s and their 30s for them to believe that indeed Nigerian is a place for them. Nigeria considers them as an important and veritable tool in developing and ensuring the very best.

“I want to also thank our President-elect who propelled a vision of what we are enjoying today. As governor and as Lagosian, he was the main architect of the modern history of the trajectory of Lagos and we are hopeful and praying that when he comes in as president, all of those additional vision that he has will come to reality.”

Governor Sanwo-Olu, who was part of the birth of the Lekki free zone in 2006 during the tenure of Tinubu as Governor of Lagos State, praised the host communities for showing hospitality to investors in the area.

“I want to use this opportunity to thank our host community. This community has been the host to several firsts in our country and I want to thank all of them; from the traditional rulers to all of the indigenous citizens that have continued to reflect the true spirit of Lagos to be able to show hospitality and accommodation in everything that we are about,” he said.

Governor Sanwo-Olu also commended President Muhammadu Buhari’s eight years in office, saying the people of Lagos State are proud of what the President has done for Nigeria.

He said: “You (President) have spent 2,915 days out of 2,922 days that you have. Mr. President, you have spent 99.98 percent of your time. Mr President history will certainly judge you well. We in Lagos are happy. This is your third trip to the Lekki Free Zone in less than a year.

“We are proud of you. We are indeed excited that you have thrown everything you have into it and as you bow down, I might not have the opportunity of holding a microphone again, I want to say to you, that on behalf of Lagos State, we are truly proud of the things that you have done for us in this country.”

Speaking earlier, Dangote commended Lagos State Government under the leadership of Governor Sanwo-Olu for providing an enabling environment for private sector growth, particularly the Dangote Refinery.

He said: “Lagos State Government has been exceptionally remarkable in their efforts toward the completion of this project.

“The Lagos State Government under the leadership of Governor Babajide Sanwo-Olu has provided an enabling environment for private sector growth in the state and this project. It has allowed us to invest over $30 billion in different sectors of the industry.”

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