Nigerian govt. Cancels Cash Calls Regime, Embraces New Funding Regime For Oil And Gas Industry

November 17, 2016

At its meeting presided over by the Vice President, Prof. Yemi Osinbajo, SAN,

The National Economic Council (NEC), today, Thursday, embraced a new funding regime for the oil and gas industry, as it cancelled the cash call regime which has dragged the industry in about a decade.

This is one of the highlights of today’s meeting of NEC, which was presided over by Vice President Yemi Osinbajo at the Aso Presidential Vialla, Abuja. It is the constitutional body set up to advice the president on the economic affairs of the federation. It comprises of the governors of the 36 states of the federation and the Central Bank governor.

The alternative funding stream has been approved earlier this week at the Federal Executive Council meeting on Wednesday and then presented today to NEC, as the body mandated to come up with “measures necessary for the coordination of the economic planning efforts or economic programmes of the various Governments of the Federation.”

ENERGIZING THE MICRO, SMALL AND MEDIUM ENTERPRISES (MSMES) SECTOR AS MAJOR ECONOMIC GROWTH DRIVE

Council received a presentation from the Ministry of Industry, Trade and Investment and relevant agencies on Energizing the MSMEs sector as a major Economic Growth Drive.
The Ministry informed the Council that the total estimated number of MSMEs is 37,067,416 MSMEs in Nigeria, and their contributions to employment is 84.02%, 48.47% to GDP, and 7.27% to export.
Of the total number, micro enterprises account for the majority, (99.8%) of the MSMEs in Nigeria, with 36,994,578 enterprises, 68,168 small enterprises, and 4,670 medium enterprises.
According to the presentation, Lagos State has the highest number of Micro Enterprises – (3,224,324); followed by Oyo and Kano States (1,864,054 and 1,794,358 respectively, while Nasarawa State has the least (226).

PRESENTATION BY THE CBN GOVERNOR ON FINANCING OPPORTUNITIES CRITICAL FOR MSMES DEVELOPMENT

Following up on the presentation, the Governor of CBN made a related presentation to the Council on financing opportunities critical for MSMEs development.
The Governor reported that the reason for the CBN’s involvement in MSMEs is to increase lending, provide access to affordable credit facility, and diversify the country’s economic base, create jobs and improve microeconomic stability.
Other reasons include to boost the capacity of MSMEs, conserving foreign exchange reserve, encourage export and the expansion of agriculture, manufacturing and to service other sub-sectors.
He stated that the CBN has a fund for such purposes in excess of N200B meant to provide affordable loans to MSMEs, adding that for instance in about three states the Bank has helped 120, 290 small holder farmers under the Anchor Borrowers Programme launched by President Muhammadu Buhari, creating more than 500,000 jobs.

MEMORANDUM ON THE ADOPTION OF SUSTAINABLE OPTION FOR FUNDING JOINT VENTURE CASH CALLS BY THE HONOURABLE MINISTER OF STATE, PETROLEUM RESOURCES

Minister of State for Petroleum Resources, Dr. Ibe Kachikwu stated that the current upstream Joint Venture arrangement in the Nigeria’s oil and gas industry is unincorporated Joint Venture (UJV) meaning that NNPC and the International Oil Companies (IOCs) partner in each Joint Venture as unique and separate legal entities.

The Minister also noted that while the NNPC pays the entire Oil and Gas revenues realised from the JV operations into the Federation account, the production costs are appropriated, calendarized and paid monthly as Cash Calls to the JV operations from the NNPC and IOCs.
According to the Minister, January – November 2016 underfunding of the NNPC Cash Calls is estimated at US$2.3 billion. This is in addition to the inherited arrears estimated at USD$6.8 billion for year ending 2015.
However he disclosed that through negotiations the $6.8B past due Cash Calls burden on the Federation has now been reduced to $5.1B, which would be paid based on an improved oil production output.
Under the new funding stream, the JVs would become incorporated and source for their own financing, freeing-up the FG from the budgetary obligations of coming up with the cash calls already put at $2.3B so far this year alone.
Under the alternative funding regime, the technical cost of oil production in the country would also come down from about $27 per barrel to $18.
The new arrangement, he assured would drive up investment in the oil and gas sector while also boosting production output and revenue significantly.
For instance net payment from oil production to the Federation account is expected to peak under the new arrangement to about $18B by year 2020 while raising output to 3million barrels per day.

REPORT ON THE EXCESS CRUDE PROCEEDS PRESENTED BY THE HONOURABLE MINISTER OF FINANCE

The Honourable Minister of Finance, Mrs. Kemi Adeosun reported to Council that as at November 2016, the balance of Excess Crude Proceeds stands at $2, 455,790,144- i.e. about $2.4B

UPDATE ON BUDGET SUPPORT LOAN FACILITY

A sum of N1.1 billion was disbursed in the month of October to 35 States and a total of N6.3 billion has now been disbursed to each of the 35 States.

LONG TERM FINANCIAL ABUSES BY SOME REVENUE GENERATING AGENCIES

Arising from previous Council deliberations on the matter, the Vice President informed that the Federal Government is paying diligent attention to the issue of abuses and excesses of certain Revenue Generating Agencies, RGA.
He then asked the Finance Minister to further brief the Council. The Minister detailed to Council certain activities of some Revenue Generating Agencies (RGAs) that amounted to financial abuses of the revenue they generate, meant to have been remitted to the Federation Account, but diverted through several undue and illegal means and ploys.
This include paying salaries above specifications of the Revenue Mobilization Allocation and Fiscal Commission, RMAFC, converting official cars to personal ownership under 48 hours of purchase, inappropriate and arbitrary monetization of medical allowances, undue and excessive overseas travels, lavish training allowances and conference spendings, excessive and personal loan approvals, including unapproved mortgages among others.
The Ministry of Finance and RMFAC are working together to rein in these abuses as this revenue agencies raise as much as 1.5 trillion Naira yearly, and spend almost 90% of it on recurrent expenditure in clear violation of due process and the constitution.
The Minister added that this financial abuses have been going on for a decade, whereby the agencies hide revenues that ought to go into the Federation Account. But assured Council that such activities will now be exposed and terminated as directed by the President.

ECOLOGICAL FUND

Governors brought up the alleged N2 billion said to have been paid to some States by the last Administration under unclear circumstances and criteria. There were complaints that state governments did not have equal access to the Fund amid allegations of political preferences.
Vice President Osinbajo assured the Council that the matter would be properly investigated, broadly reviewed, and forthright counsel would be made to the President regarding the matter.[myad]

Chambers Of Commerce Commends Dangote For Sponsoring Kano Trade Fair

Greenbarge Reporters

November 17, 2016

Kano State Chambers of Commerce Industry Mines and Agriculture (KACCIMA) has commended the Dangote Group for the sponsorship of the 37th International Trade Fair which opens today, Friday, in Kano.
The Trade Fair has as its theme: Attracting Entrepreneurs and Investors Towards National Economic Growth.
Speaking to newsmen, the Director General of KACCIMA, Aliyu Muhammad Mustafa said: “the Dangote Group has been our major sponsor over the years including this year’s Trade Fair. Most marketers have been asking us if Dangote will participate and we told them yes. So the Dangote is a major driving force in Kano Trade Fair.”
Aliyu Mustafa said that with the participation and sponsorship of the Dangote Group, many companies, including multinationals and foreign companies, especially those from China, have shown interest in the Trade Fair.
He said that 17 Ambassadors are participating in the opening ceremony.
According to him, President Muhammadu Buhari will be represented by the Minister of Industry, Trade and Investment while the Emir of Kano, Alhaji Muhammad Sanusi II as well as delegates from other African countries are attending.
In a statement, companies under the Dangote conglomerate indicated that they will be participating with its innovative products. They include Dangote Flour, Dangote Cement, Dangote Pasta, Dangote Sugar, DanQ Seasoning and Dansa products.
The statement from Dangote Group said that customers wanting to be distributors of any of the Dangote Group’s subsidiaries would have the opportunity to be offered informed explanations by staff of the companies who would be on hand to put the customers through.
This is even as President of the Kano State Chambers of Commerce Industry Mines and Agriculture (KACCIMA), Umar Farouk Rabiu Dansuleka, described the Dangote Group as a worthy partner and major sponsor of the Trade Fair.
He said that the Group has contributed to the development of businesses in the country through sponsoring businesses activities like the Trade Fair. [myad]

President Buhari Mourns Ex-Minister, Rasheed Gbadamosi

Greenbarge Reporters

November 17, 2016

President Muhammadu Buhari has joined the Government and people of Lagos State in mourning the former Nigeria minister of National Planning, Chief Rasheed Gbadamosi who died yesterday, Wednesday.
The President, who condoled with family members, friends and professional colleagues of the late acclaimed economist, eminent industrialist, playwright and promoter of arts and culture, asked them to be consoled by the fact that his contributions in these diverse fields of life would be appreciated for a long time.
Buhari said that the nation will remain ever grateful for the meritorious and exemplary roles Chief Gbadamosi played not only as a minister, but also as a former chairman of the Bank of Industry (BoI) and the Petroleum Products Pricing and Regulatory Agency (PPPRA).

Meanwhile, the former Governor of Lagos State, Asiwaju Bola Ahmed Tinubu, has described late former Minister, Rasheed Gbadamosi, as a true Lagosian.
Tinubu, who is also a National Leader of the All Progressives Congress (APC), in a statement issued by his Media Office, today, Thursday, said: “I mourn the passage of eminent Nigerian and Lagosian, Chief Rasheed Gbadamosi. He died at a time when his wealth of experience would have come in handy for the challenges of nation-building. Yet, Lagos was happy to have him. And Lagos is proud of the life he lived and all he achieved.
“He was an achiever, economist, industrialist, arts aficionado and nature lover. He diligently served the nation as he served his Lagos home-state. He distinguished himself as Minister of National Planning and much later Chairman Petroleum Products Pricing Regulatory Commission (PPPRC). He will be sorely missed.
“He was a true Lagosian. Chief Gbadamosi was our ‘poster boy’ in Lagos. Born in Lagos, lived in Lagos, breathed Lagos; he loved his Lagos.
“Even though he had been ailing for some time now, but he was very active on the social-cultural scene. He died on the cusp of service of Lagos as Co-Chairman of Lagos at 50 Planning Committee.
“Chief Gbadamosi also recorded giant strides in the business world. He was Chairman, Ragolis Water Limited, AIICO Pension Managers and Lucky Fibres Nigeria Plc.
“I send my condolences to his family, to Governor Akinwunmi Ambode and the entire people of Lagos State. I also condone the arts community, with which he had identified all through his eventful life.
“I pray that Almighty Allah grant him Aljanna Fridaus.”

Gbadamosi died yesterday, Wednesday at 72. [myad]

NGO Gives Aliko Dangote “Bridge Builder” Award

Greenbarge Reporters

November 16, 2016

A Non Governmental Organization (NGO), known as Love to the World Initiative Bridge Builders has conferred on the President of Dangote Group, Alhaji Aliko Dangote, a ‘Bridge Builder’ Award.

A statement by the group’s regional spokesman, Abubakar Jibrin, in Abuja said that the award was in recognition of Dangote’s “avowed Pan-African posture, laced with his nationalistic approach in locating his industries and his employment policies.”
Jibrin quoted the NGO as saying: “the richest man in Africa and business mogul bagged the award for distinguishing himself in the promotion of peaceful co-existence, poverty alleviation and hospitality across the nation and Africa at large.”
The Chief Executive of the NGO, Josephine Anumbor, said that the award was aimed at mobilizing Nigerians to change from being selfish to becoming selfless and to contribute to national development.
She said that Dangote Industries Limited are a good example of the drive to curb unemployment and uplift Nigerians through various services.
The Director-General of the National Orientation Agency, Garba Abari, said the awardee deserved global recognition for giving succour to the less privileged.
“Dangote’s assistance to Internally Displaced Persons in the North-East is exemplary.”
He said that the NGO is a component of government’s “Change Begins With Me” campaign and urged Nigerians to show love, to enable the country to tackle socio-political and economic challenges facing the nation.
Former Head of State, General Yakubu Gowon, who was the Chairman of the occasion, called on Nigerians to show love to one another.
Represented by his brother, Dauda Gowon, the ex-head of state said that peaceful co-existence, love and unity are non-negotiable in resolving challenges. [myad]

I Had Instructive, Long Discussion With Igbo Secessionist Leader, Kanu, In Prison – Fani Kayode

Greenbarge Reporters

November 16, 2016

Former Nigerian Aviation minister and chieftain of the opposition Peoples Democratic Party (PDP), Femi Fani-Kayode, has revealed that he had instructive and long discussion with the leader of the secessionist group, the Indigenous People of Biafra (IPOB), Nnamdi Kanu in Kuje prison.

Fani Kayode, who was released from detention a few days ago, said in a write up by him: “when I went to visit the great and brilliant freedom fighter, Nnamdi Kanu, who is the leader of IPOB and easily the most courageous, powerful and credible Igbo leader in Nigeria today in his cell we had a very instructive and long discussion.

“I had never met Nnamdi before and I was amazed at his depth of knowledge, his immense courage and his deep convictions. There is no doubt in my mind that that man is going places and in him the Igbo have an Ojukwu and a Nnamdi Azikiwe all rolled into one. He is destined for greatness.” [myad]

How Jonathan Government Awarded Fake Kano-Katsina Dual Highway Contract – Garba Shehu

Greenbarge Reporters

November 16, 2016

The Senior Special Assistant to the President on Media and Publicity, Malam Garba Shehu has revealed how the government of President Goodluck Jonathan, two years ago, awarded contract for the construction of Kano-Katsina Dual Highway without releasing a kobo for it.

Garba Shehu who was answering questions on Kano Express Radio interview programme said that there are other projects that existed on paper but were not executed.

“Kano-Katsina dual highway was awarded three years ago by the last administration. They didn’t pay a kobo for its start-up. President Buhari just paid money for the first tranche of 75 kilometers and work has begun apace.”

He said that all such projects, including repair of highways, railways and power generating plants are being developed now by the government of President Muhammadu Buhari.

According to Garba Shehu, Buhari administration is fast tracking the projects in order to pump money into the economy as a way of pulling the economy out of recession.

He said that the sum of N750 billion has been released for capital projects in the last five months and that counterpart funds for the take-off of the $11 billion Kano-Lagos rail project had been paid.

Garba Shehu said that the importance of infrastructure in the country’s economic and industrial take-off cannot be over-emphasized, adding: “without infrastructure, the country will not witness growth.” [myad]

Donald Trump: Of God Or Devil, By Yusuf Ozi-Usman

Greenbarge Reporters

November 16, 2016

For the first time in a long time, everything is turning anti-clock wise in the United States of America.

It is strange that all predictions, forecasts and opinion polls which favoured the Democrat nominee, Hilary Clinton in the November 8 Presidential election, failed the Americans this time. As a matter of fact, it has never been in the character of America to miss target, especially in a matter as scientific as forecasting the election swing; what happened this time?
It is strange also that shortly after Donald Trump of the Republican was declared the winner of the election against all the projections and media calculations, many Americans poured onto the streets to protest against his election victory. Americans were never known to openly disown a President-elect and this time; who were the people in majority that elected Trump?
It is strange that instead of the world leaders to cheer up and sincerely wish Donald Trump well as he prepares to lead the world most powerful country, what we have so far are pent-up anger, suspicion and “wait-and-see” posture, and in a few cases, outright condemnation of Trump becoming the President.
The question that has been asked in many quarters is that, is Trump’s election the work of God or that of the devil?
This question is back-grounded in the common saying among the religious people that leaders are chosen by God. This time, can we really say that he was chosen by God?

Recall that in May this year, the General Overseer of the Divine Hand Prophetic Ministry, Prophet (Dr) Emmanuel Omale predicted that Trump would emerge not only as the flag bearer of the Republican but would go on to win the 2016 US presidential election.

He had said: “I see confusion all over the world. I see Donald Trump, we need to pray. I see him winning the election, and he won and there was war everywhere and we are being forced to start using 666 number. There was war everywhere. We need to pray.

“If we don’t pray I saw him winning because it is devil that is bringing him to bring war to the whole world. We shall not see war, we shall not see war!”

Prophet Omale spoke during ministration at Deliverance Service held at the Divine Hand Prophetic Ministry’s church auditorium in Abuja.

Of course, the Trump’s body language and even his open pronouncements have all pointed to the direction of abnormalities and indication for the return of America to the Dark Age, even before the advent of Democracy. In short, his comportment, his words and his inaction are all wreaking of combat for WAR: war with the Muslims, war with 11 million illegal immigrants, war with Africa, war with Nigeria which he described as the land of thieves and lazy people and war with just anybody and any system that as much as dare him.
It should be understood that before his coming, America has prided itself as a free society, and for all manners of people, for, after all, the country is peopled by various ethnic nationalities: Latino, Hispanic, Britons, Africans, Asians and all of that. America has been known to be home to all and indeed, the home of modern democracy that allows the good, the bad and the ugly to interact from where the best can emerge.
And, unfortunately, Donald Trump is aiming at obliterating all such established traditions, and in their places is his advocating, and the chance for him now, to implement what has come to be known as “white supremacy.”
Of course, those who voted for him to become President are the die-hard local champions who have never stepped out of the four-corners of America in their life time, and who believe that America is heaven: those are the backward ones that refuse to take it that the world has since arrived at the threshold of jet-age civilization. There are also a few other Americans who speak from both sides of their mouth, i.e. the hypocrites who preach democracy but practice something opposite when it pleases them.
The likely foreign policy ideology of Donald Trump, gleaning from his campaign diatribes, is certainly too archaic for the modern world and too dangerous for the peaceful co-existence of the people living in America and outside it.

As a matter of fact, Trump has been confirmed to be a bully and a “headmaster” who grew up giving orders to subordinates, especially his workers without being challenged. This is a man who has never been even a council boss, politically. And, from board room of his multi-billion dollar companies, he was catapulted to the most powerful political leadership of the world. And what should anyone expect from such a myopic President – for another four years?
Come to think of it, we used to hear of walls built around big cities in many parts of the world in the early centuries, mainly as means of warding off unwanted intruders, especially in wars. But Trump has been romancing with the same idea of the far flung centuries, as the world now turned into global village. Indeed, for Trump to even think of walls in America to ward off “unwanted immigrants,” especially Muslims and Latino in this 21st century, to say the least, is evil.
Like what Prophet Omale said, we all need to pray; pray for the happy ending of this world, with Trump coming to mount the leadership of America, for, his leadership might be the coming of anti-Christ or the Armageddon.

This may sound wild, but is the election of Trump and the way many Americans reacted to it not wild too?
With Trump, and the way he stole himself into the White House, everyone should prepare for the unknown; the known that looms and so thick that sharp knife can shred it. [myad]

Presidency Gives Defence Ministry Marching Order On Ways To Raise Living Standards Of Veteran Soldiers

Greenbarge Reporters

November 15, 2016

The Nigerian Presidency has ordered the ministry of Defence to come up with programme that would be implemented for the benefit and enhancement of the living standards of the veteran soldiers.
Vice President Yemi Osinbajo, who represented President Muhammadu Buhari at the fund raising and launching of emblem in this year’s Armed Forces Remembrance Day said that the Federal Government would continue to show commitment to
addressing the challenges facing the Veterans.
“To this end, we have recently implemented the recommendation to harmonize their pensions. We are also happy to note that the Military Pensions Scheme is running efficiently even as verification exercise for ex-service men and women was successfully conducted recently.
“The Ministry of Defence has been charged to come up with programmes that would enhance the living standards of the veterans. I appreciate the efforts of the State Governors who are Patrons of the Legion in their respective States for promoting the Legion.”
The President appealed to well meaning Nigerians to continue to lend their support and give concessions to the Veterans and the families of the departed.
He described the Remembrance Days as a worthy tradition of acknowledging and appreciating the gallantry and sacrifices of the nation’s veterans in the First and Second World Wars, Peace-keeping Operations around the world, and internal security operations, particularly the ongoing campaign against terrorism at home.
“It is indeed, fitting and worthwhile, even noble to honour our distinguished veterans some of who paid the highest price and many others who devoted significant parts of their lives to the service of our country and the world at large.
“Indeed, when we sing that portion of our National Anthem “the labour of our heroes past, shall never be in vain” as we just did moments ago, it is to this exceptional Nigerians that we refer, reminding ourselves regularly of their humbling contributions to the maintenance of peace and security at home and many times abroad.
“Since independence 56 years ago, our nation has witnessed a number of internal strifes, survived a civil war but has remained united. Our people have through all consistently shown a desire to remain as one people, and this itself honours the sacrifices of our fallen heroes, heroines, and veterans who rose up and continue to rise up to confront the security challenges of the day.
“We are here today to demonstrate our appreciation for their service, and to value their devotion and honour their memory.
“This is why the Armed Forces Remembrance Day Celebration is observed annually on 15th of January to commemorate the selfless service of our gallant troops.
“The theme of this year’s celebration: “Appreciating the Resilience of the Nigerian Armed Forces” is therefore very apt. It speaks to the perseverance, and dedication of our serving and departed men in uniform. Those great attributes are particularly on display in these trying times in our national life as our men make the valiant efforts to bring down the insurgents. Let it be said over and again, that as an administration we would continue to honour our military forces in their arduous ongoing fight against terrorists, do all we can to remember their sacrifice and appreciate their families who bear the brunt in differing levels of pain and loss.
“As a nation we are grateful to our loyal and gallant troops for ensuring that terrorism and hate do not prevail in our land and and doing so with such commitment.
“To their families we owe an even greater debt of gratitude and a permanent duty and promise that we
will not forget.”
Buhari salute the courage and sacrifices of men and women of the Nigerian Armed Forces in grappling with militancy, oil theft and piracy in some parts of the country.
He acknowledged that they have displayed unalloyed loyalty and commitment to Nigeria, saying that when the situation and conditions under which they died or suffered physical incapacitation is considerd, “those of us who are beneficiaries of their sacrifice carry a compelling moral duty to do our level best to contribute towards the welfare and sustenance of their families, and dependents. Beyond our words of gratitude that honor their memories and service, our modest material comfort can go a long way to ameliorate their pain and loss.”[myad]

Why Top Nigerian Judges Are Corrupt And Their Colleagues Don’t Want To Expose Them – Osinbajo

Greenbarge Reporters

November 15, 2016

Vice President Yemi Osinbajo has regretted that while some Nigerias judges were perpetuating corruption, their colleagues would not expose them for fear of not being seen as responsible for possibly ending of their career.
He said that one of the great difficulties of the legal profession in Nigeria “is our shyness and reluctance to call ourselves to order. Nobody wants to be held responsible for possibly ending the career of another.”
Vice President Osinbajo, who spoke at the 2016 Fellows’
Lecture and Conferment of Honorary Fellowship on him and three others by the Nigeria Institute of Adcanced Legal Studies, said that in all the serious researches on the best known administration of justice systems, it is evident that at various points in their histories, the institutions were challenged by falling standards, corruption, and abuse of office.
“When this occurred, the profession itself had often made the first and farthest drastic moves to self-correct. So we watch the decay and gradual collapse of an excellent tradition built on the self-restraint, sacrifices and integrity of many in the past 100 years.
“Chief Awomolo, SAN, (today’s Guest Lecturer) has said the legal profession we fought for is not what we now have. Many past and present members of the bench have also said so. I agree with them. But he said things would improve. How?”
Osinbajo said those in the legal profession owe themselves a duty to preserve the Administration of Justice System not only because it is the last hope of the common man but because this is the means of livelihood. Our profession and the credibility of the Administration of Justice System depends entirely on public confidence, once that is eroded because of the delinquency of a few, we, the majority must fight hard against it.
“It was the legendary Hon Justice Chukwudifu Oputa of blessed memory who said, “If you are a judge and you are corrupt, where do we go from there? Then everything has come to a halt.
“If the legislature is corrupt, you go to the judiciary for redress. If the executive is corrupt you go to the judiciary for remedy. If the judiciary itself is corrupt, where do you go from there? “Judicial independence is spoken of sometimes as though it is a favour we do to the judiciary: no it is not. It is not a favour or a privilege to them. It is the essence of our system of justice. A judge must be independent for at least one reason: so that he or she can be fair and just, without fear or favour.
“This is the reason why the executive must neither interfere in judicial process nor attempt to compromise judicial independence in any way.
“But, (and this is fundamental), it is to protect judicial independence that we must fight corruption. The most potent threat against judicial independence is corruption. If a litigant can buy justice, how can a compromised judge be fair or just?”[myad]

How Irregular Release Of Budget Allocations Affect Travelling Arrangements Of The President, His Vice – Aso Rock

Greenbarge Reporters

November 15, 2016

The Permanent Secretary in the State House, Alhaji Jalal Arabi has said that irregular releases of the budget allocations to the Presidency have negatively affected the travelling arrangements of President Muhammadu Buhari and Vice President Yemi Osinbajo.
Jalal Arabi, who received the
Chairman and members of the Senate Committee on Federal Character and Inter-Governmental Affairs, Senator Tijani Kaura, oversite visit to the State House, said that the settlement of staff claims arising from official assignments has also been affected by the irregular releases.
According to him, out of a total allocation of N3.84 billion for the recurrent expenditure in the 2016 budget, the State House has received N2.71 billion to date, representing 70.69 per cent.
On the capital budget, he said that with a total appropriation of N10.94 billion, N3.06 billion has been released to date, amounting to 27.9 per cent of the capital appropriation for 2016.
The Permanent Secretary said that a total of N2.53 billion has so far been expended on projects for which funds were released.
“Suffice it to note that all the amounts released are project-tied so they were judiciously applied to those projects.
“We are still expecting additional releases before the end of the year to enable us pay contractors that have executed jobs awarded to them,’’ the Permanent Secretary said.
On the 2017 budget proposal of N13.5 billion, the Permanent Secretary said that no new projects will be conceived because some of the ongoing projects in 2016 would be rolled over.
This was even as the Chairman and members of the Senate Committee commended the management team of the State House for prudent management of the 2016 budget.
Senator Kaura and gis team expressed satisfaction on the budget performance for 2016, particularly on the recurrent expenditure.
‘‘We have observed a very prudent management of the 2016 budget and we are proud to say that indeed the ‘Change Agenda’ has begun with the implementation of the State House budget.
“We commend the management team and we hope that our interactions with you will prepare both sides for the receipt of the 2017 budget.”

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