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Buhari seeks speedy approval of the 2016/2018 external borrowing plan 

President Muhammadu Buhari is seeking the approval of the House of Representatives on the 2016/2018 external borrowing plan.

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President Muhammadu Buhari has forwarded a letter to the House of Representatives with the intent of seeking review and approval of the 2016/2018 external borrowing plan, according to The Nation.

The Details: The letter was read by the Speaker of the House of Representatives, Femi Gbajabiamila, at a plenary session yesterday. The letter urged the National Assembly to quickly approve the borrowing plan to enable the government finance the listed projects contained therein. It should be noted that the plan was ignored by the 8th Assembly.

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Making reference to the 8th Assembly, Buhari explained that only a part of the borrowing plan was approved. He singled out the North East development plan and the China Exim bank funded Lagos to Ibadan rail as the only project approved by 8th Assembly in the borrowing plan.

Did Buhari bypass National Assembly as probe into Ajaokuta deal with Russian begins?, Buhari seeks speedy approval of the 2016/2018 external borrowing plan 

This act greatly limited the government in achieving its developmental plan in terms of power, education, agriculture, education among others, according to the President.

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He added that the projects contained in the borrowing plan had already been approved by the Federal Executive Council in August 2016. To help the House swiftly approve the bill, the President promised to make sure the Minister of Finance, Zainab Ahmed was available to provide any necessary clarifications, regarding the borrowing plan.

[READ MORE: Obasanjo backs Buhari’s border closure commitment]

What you should know: The President’s financial plan (2016-2018 external borrowing plan) was approved by the Federal Executive Council in August 2016 and sent to the 8th Assembly in September 2016.

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The leadership of the federal parliament led by Senator Bukola Saraki and Yakubu Dogara invariably rejected the request in November 2016.

Other developments: Recently, President Muhammadu Buhari forwarded six aviation bills to the Senate for consideration and passage into law.

The six bills include Civil Aviation Bill 2019, Federal Airport Authority of Nigeria Bill 2019, Nigerian College of Air Space Management Agency Establishment Bill 2019.

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Others are Nigerian College of Aviation Technology Establishment Bill 2019, Nigerian Meteorological Agency Establishment Bill 2019, and Nigerian Safety Investigation Bureau Establishment Bill 2019.

Patricia

Reincarnated as a lover of stocks, Angel investors, seed funds, and anything aligned to tech or startups raising money, Joseph's work at Nairametrics involves following the money to wherever it leads. Before joining Nairametrics, he won an investigative journalism fellowship with ICIR, appeared in several national dallies, with hard-hitting opinions, features and investigative pieces. He has also engaged in content marketing and copywriting for a top e-commerce firm in Nigeria.

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Economy & Politics

FG inuagurates 2nd National Voluntary Review Report on SDGs

The report enables member countries to exchange experiences and knowledge on Sustainable Development.

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Federal Government has inaugurated the second National Voluntary Review Report on Sustainable Development GoalsThis was disclosed by the Senior Special Assistant to the President on Sustainable Development Goals, Mrs Adejoke Orelope-Adefulire on Tuesday. 

The report was launched after a virtual presentation session of the High-Level Political Forum of the United Nations (UN). 

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Meanwhile, the UN had offered to assist the Nigerian Government to realize its developmental aspirations most especially those related to the SDGs. 

The UN Resident Coordinator in Nigeria Edward Kallonhad explained that he visited Nigeria to explore better ways of collaboration between the two agencies in line with the recent reforms going on in the UN, which are being driven by Amina Mohammed, the Deputy UN Secretary-General. 

According to him, UN is looking for innovative ways to come up with a robust collaboration framework that will foster a more solid and workable partnership by way of creating a platform for Nigeria to leverage on and support its developmental aspirations most especially, the implementation of the SDGs. 

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Why it mattersThe report enables member countries to exchange experiences and knowledge on Sustainable Development. It would feature Nigeria’s most important priorities as it is nearly impossible to achieve all SDG’s because of the limited economic challenges. 

According to Orelope-Adefulire, the goals prioritized by the governments were no poverty, health and wellbeing, education, economic growth, security & peace and partnerships. 

She said, “Poverty is more than the lack of income and resources to ensure a sustainable livelihood. Its manifestations include hunger and malnutrition, limited access to education and other basic services, social discrimination and exclusion as well as the lack of participation in decision-making. Economic growth must be inclusive to provide sustainable jobs and promote equality. 

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“Sustainable economic growth will require societies to create the conditions that allow people to have quality jobs that stimulate the economy while not harming the environment. Job opportunities and decent working conditions are also required for the whole working-age population.”

She added that the agency would prioritise seven goals and reached out to the private sector, women organisations, CSOs, youth groups, academia and people living with disabilities; finding out from them what needs to be done. 

 

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Economy & Politics

Just-in: FG kickstarts its 774,000 jobs SPW initiative as Buhari backs Keyamo

The initiative plans to employ 1,000 persons from each of the 774 LGA in the country.

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FG urges DStv, MTN, others to offer free subscription, airtime, data to Nigerians

Despite the opposition from members of the National Assembly, the Federal Government have formally kick-started the Special Public Works (SPW) programme, which was designed to create 774,000 jobs across the nation, with the inauguration of the State Selection Committees.

This was disclosed in a tweet post by the Federal Government on its official Twitter handle on Tuesday, July 14, 2020.

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In the tweet post, the Federal Government said, ‘’The Special Public Works Programme of the Federal Government has kicked off nationwide. The State Selection Committees have been inaugurated and have commenced work. Find the names and contact details of members of your State’s Committee here.’’

The National Assembly had earlier called for the suspension of the programme, following disagreement and altercations with the Minister of State for Labour and Employment, Festus Keyamo, over the operations and processes of the programme.

 

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This programme, which is coordinated by the ministry of labour and employment, was part of the federal government’s intervention programmes and fiscal stimulus measures to help cushion the negative impact of the coronavirus pandemic on Nigerians.

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The initiative which is expected to start on October 1, 2020, plans to employ 1,000 persons from each of the 774 local government areas in the country. Each of the beneficiaries of the programme will be paid N20,000 monthly to carry out public works.

The implementation agency for the programme is the National Directorate of Employment (NDE).

The Minister of State for Labour and Productivity, Festus Keyamo, while performing the virtual inauguration in a joint address with the Director-General of NDE, Nasir Ladan Argungu, disclosed that an inter-ministerial committee drawn from 8 ministries and headed by the NDE recommended the setting up of states’ selection committees to identify and recruit those to be engaged under the programme

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It can be recalled that Keyamo, has been at loggerheads with the federal lawmakers over the implementation of the SPW programme. The lawmakers had insisted that the Minister must seek their inputs before going ahead with the constitution of the 20 man states selection committees. They also accused Keyamo of trying to hijack the programme from the NDE, who should be the implementation agency.

But the Minister, while appearing before a joint committee in the National Assembly accused the lawmakers of trying to hijack the process. He insisted that President Buhari gave him the mandate to directly supervise the programme and as such he is the only one that can ask him to stop.

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Economy & Politics

Seyi Makinde Proposes N3 billion investment plan for water supply

The local governments in Oyo are advised to submit a list of 10 faulty boreholes in the LG. 

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Seyi Makinde Proposes N3 Billion plan for water supply

The Governor of Oyo State, Seyi Makinde announced the proposal of a N3 billion investment plan dedicated to water supply in rural and urban areas of the state.

Speaking through the Chairman of Rural Water Supply and Sanitation Agency (RUWASSA), Mr. Najeem Omirinde in Ibadan on Monday, he added that N500 million of the N3 billion would be used for repairing broken and faulty state-owned boreholes.

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READ MORE: Network operators accept government’s ‘shared facility arrangement’ that limits financial risk 

All Chairmen of each of the Local Governments in Oyo are advised to submit a list of 10 faulty boreholes in the Local governments.

The Oyo State governor, Seyi Makinde also ordered that all new boreholes must be compliant with solar-powered pumps, to enable their longevity and save costs.

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READ ALSO: Diageo to invest $219 million in renewable energy in Nigeria, six others

Urging residents to patronize the agency if they need to dig up boreholes for water, citing that it would be cheaper if done through the state agency than with private drilling companies.

Minister of Finance, Zainab Ahmed stated last year that Nigeria needs an estimated N36 trillion annually for the next 30 years to solve Nigeria’s infrastructure problem. The investment, although a tiny fraction of what Nigeria needs is a bold step by the Oyo State government.

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