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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, Labour agree cut in electricity tariff for 3 months, to distribute 6 million free meters, SPW jobs, FG kickstarts its 774,000 jobs SPW initiative as Buhari backs Keyamo, 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.

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.

READ ALSO: FRAUD: FG uncovers N62.555 billion unaccounted for in NSITF

 

 

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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.

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.

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READ ALSO: 4.48 million beneficiaries apply for N-Power jobs in 16 days

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.

Chike Olisah is a graduate of accountancy with over 15 years working experience in the financial service sector. He has worked in research and marketing departments of three top commercial banks. Chike is a senior member of the Nairametrics Editorial Team. You may contact him via his email- [email protected]

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    Economy & Politics

    Nigerian states generate N1.31 trillion IGR in 2020 as Lagos dwarfs others

    The 36 states and the Federal Capital, generated a sum of N1.31 trillion as Internally generated revenue (IGR) in 2020

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    FAAC, IGR, Fiscal federalism in Nigeria, NEC Inauguration, Bailout Fund: FG begins deduction of N614 billion from states’ allocation in 2 weeks , Ekiti, Enugu, Bayelsa, 12 others attract no investment in 1H , States’ debt stock, Fiscal federalism

    The 36 states and the Federal Capital Territory generated a sum of N1.31 trillion as Internally generated revenue (IGR) in 2020. This was contained in the state IGR report, which was recently released by the National Bureau of Statistics (NBS).

    According to the report, the states’ IGR declined by 1.93% from N1.33 trillion, recorded in the previous year to N1.31 trillion in 2020. It however increased by 11.7% compared to N1.69 trillion recorded in 2018.

    The decline may be due to the effects of the covid-19 pandemic on the various states of the federation, as they were forced to implement lockdown protocols to curb the spread of the disease in the country.

    Highlights

    • States generated N1.09 trillion from taxes in the year 2020, accounting for 83.3% of the total IGR received in the year.
    • Tax revenue also declined, when compared to N1.11 trillion collected in the previous year. This represents a 2.25% decline year-on-year.
    • Lagos State recorded the highest Internally Generated Revenue of N418.99 billion, accounting for 32.1% of the total and closely followed by Rivers State with N117.19 billion.
    • Others with the highest IGR in 2020 include Abuja (N92.06 billion), Delta (N59.73 billion), and Kaduna (N50.75 billion).
    • Kebbi State recorded the highest year-on-year growth of 87.02%, closely followed by Ebonyi at 87.3%. Oyo State grew its IGR by 42.23%, Borno (41.63%), while Katsina grew by 34.16%.
    • On the flip side, Benue State recorded the highest year-on-year decline of 41.38%, followed by Sokoto State, which dipped by 37.93%, Kwara (36.03%), Jigawa (32.95%), and Ogun State (N28.44%).

    A cursory look at the data shows that the States recorded the highest quarterly IGR in the first quarter of the year, before the covid-induced lockdown in March 2020. It however dipped significantly by 25.53% to stand at N269.88 billion in Q2 2020.

    States generated a sum of N338.57 billion in Q3 2020 and then recorded a marginal decline in Q4 2020 to stand at N335.25 billion.

    Lagos dwarfed others

    Lagos State recorded the highest internally generated revenue in 2020, having made N418.99 billion, accounting for 32.08% of the total states’ IGR recorded in the period under review.

    • It is no surprise that Lagos State makes this much revenue as it is regarded as the commercial hub of Nigeria.
    • According to the data from NBS, Rivers State is a distant second on the list with N117.19 billion as IGR, representing 8.97% of the total, while the Federal Capital Territory, Abuja followed closely with N92.06 billion, representing 7.05% of the total recorded in the year.
    • Others on the list include Delta State (N59.73 billion), Kaduna State (N50.77 billion), Ogun (N50.75 billion), and Oyo State with N38.04 billion.

    Kebbi, Ebonyi boosted revenue by over 80%

    Kebbi State and Ebonyi State grew their internally generated revenue by over 80%, with Kebbi recording 87.02% growth in IGR to stand top on the list of states with the highest growth rate; followed closely by Ebonyi State with 82.3% growth in IGR to stand at N13.59 billion.

    • Oyo State grew its IGR by 42.23%, Borno (41.63%), Katsina (34.16%), and Gombe (25.5%).
    • Meanwhile, 18 out of the 37 states of the federation recorded a decline in IGR in 2020, a list led by Benue State, having dipped its annual IGR by 41.38%, followed by Sokoto with 37.93%, Kwara (36.03%), Jigawa (32.95%), and Ogun State with a decline of 25.44%.

    What this means

    • The decline in states’ internal revenue was caused by the pandemic which struck earlier in 2020, disrupting economic activities in the country.
    • Nigeria recorded a recession in the third quarter of 2020, after a consecutive economic contraction, recorded in Q2 and Q3 2020.
    • It, however, recovered from the recession in the fourth quarter. It is therefore hoped that as economic activities resume fully in the country, the states will be able to boost their revenue in the short-to-medium term.

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    Coronavirus

    Lack of vaccine access will reduce Africa’s economic growth compared to rest of world – IMF

    IMF forecasts that Nigeria is expected to grow by 2.5% in 2021 and 2.3% in 2022.

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    IMF discloses immediate priority , Reduce funding oil subsidy - IMF to Nigeria , IMF: 40% of African countries can't pay back their debts , Nigeria among countries that pushed Global debt to $188 trillion - IMF , Coronavirus: World Bank, IMF to support Nigeria and other member countries affected, IMF, World Bank to hold meetings via conference call over Coronavirus epidemic, IMF advises banks to suspend dividend payment

    The International Monetary Fund (IMF) has stated that a continued lack of access to vaccines will see Africa’s projected growth at 3.4% compared to the rest of the world at 6%.

    The IMF disclosed this in its Regional Economic Outlook for Sub-Saharan Africa, April 2021, which was published on Thursday.

    What the IMF said

    • Despite turning out better than expected, growth in 2020 is estimated to have been the worst on record at –1.9 %, leading to a sharp spike in poverty.
    • In 2021, the region’s economy is expected to resume expansion at 3.4%, weaker than the 6% for the rest of the world, amid a continued lack of access to vaccines and limited policy space to support the crisis response and recovery.
    • Macroeconomic policies will in many countries entail some difficult choices. Saving lives remains the first priority, which will require access to affordable vaccines, ensuring that the logistical and administrative prerequisites of vaccination rollouts are in place, targeted containment efforts, and added spending to strengthen local health systems.

    The IMF urged that African leaders needed to create more fiscal space and implement transformative reforms to unlock economic growth. These include mobilizing domestic revenue, strengthening social protection, promoting digitalization, and improving transparency and governance.

    The body added that the need for reforms is to reduce debt and find a sustainable footing which would be a catalyst for longer-term growth and provide opportunities for the region’s new job seekers.

    On growth projections

    • IMF forecasts that Nigeria is expected to grow by 2.5% in 2021 and 2.3% in 2022.
    • South Africa is expected to grow by 3.1% in 2021 and 2.0% in 2022.
    • Kenya is expected to have higher growth at 7.6% in 2021 and 5.7% in 2022.
    • Meanwhile, Ghana is forecasted to grow by 4.6% in 2021 and 6.1% in 2022.

    In case you missed it

    Nairametrics reported earlier this month that the International Monetary Fund had lifted its global growth outlook to 6% in 2021 (0.5% point upgrade) and 4.4% in 2022 (0.2 percentage point upgrade), after an estimated historic contraction of -3.3% in 2020, due to the effects of the COVID-19 pandemic.

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