Nigeria received $961 million loan
President Muhammadu Buhari

President Muhammadu Buhari has finally announced the date for the inauguration of his Ministers. The president also revealed the activities that will precede the inauguration. The new cabinet comprises of seven women and thirty-six men.

The President has directed that an induction retreat should be organised for the Ministers-Designate before the inauguration. The induction will be held at the State House Banquet Hall, in Abuja from August 15-16, 2019.

Part of the plans preceding the swearing-in includes the collection of relevant study documents by Ministers-Designate for their guidance and preparation for the inauguration. According to the information shared on the twitter account of the Presidency, @NGRPresident, the documents expected to be studied by the incoming Ministers to guide implementation of Buhari’s Administration Policies include:

  • Status Report on Policies, Programmes & Projects (2015-2019);
  • 2019-2023 Road Map;
  • Economic Recovery & Growth Plan (ERGP) 2017-2020; and
  • FEC Handbook.

[READ ALSO: What Emefiele’s reappointment means for Nigerian economy]

The date for the swearing-in: The inauguration is scheduled for Wednesday, August 21, 2019 at the State House.

Impact of the delay in appointment: Work on capital projects by the Ministries, Departments and Agencies has continued to remain grounded two months after the 2019 Budget was signed into law. The Ministries, Departments and Agencies are currently in a capital dilemma that is affecting the implementation of their projects.

MDAs are cash-strapped and are unable to fund capital projects because President Muhammadu Buhari is yet to release funds for them to commence work. This will cause a delay in execution of projects, most especially the critical ones.

Reasons for the delay of funding: According to a report, the delay is caused by:

  • the procurement process;
  • the non-constitution of a cabinet; and
  • the low approval limit of Permanent Secretaries.
AfCFTA
Containers at the port

Investors’ wariness: The continued delay in Ministerial appointment has left investors jittery about the direction of the administration which began on May 20. It’s crucial for ministers to be available because they are also policymakers, and with some Ministers in the first tenure not returning, it is not certain if those replacing them will be interested in executing the plans on ground.

[READ ALSO: Despite FG’s N900 billion investment, Nigeria’s power sector remains in failing state]

Corruption allegation: Since the ministerial list was submitted by the President, there have been allegations of corruption against some of the nominees, but the President, the Police, ICPC, and anti-graft agency, EFCC, haven’t reacted to these claims from Arewa Consultative Forum and the opposition party, Peoples Democratic Party (PDP).

The National Assembly concluded the screening of the Ministerial nominees last week. The portfolio that will be given to each of them is, however, not clear yet.

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