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Buhari Set to Signs Revised N10.8 Trillion 2020 Budget into Law Today

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Buhari Set to Signs Revised N10.8 Trillion 2020 Budget into Law Today

President Muhammadu Buhari will today sign into law the revised 2020 budget of N10.8 trillion.

The Minister of Finance, Budget and National Planning, Dr. Zainab Ahmed, disclosed this yesterday while briefing the leadership of the National Assembly on plans to submit the 2021-2023 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) later this month.

Ahmed, who briefed  principal officers of the Senate and House of Representatives, led by the Senate President, Ahmad Lawan and speaker, Femi Gbajabiamila, said the  President had given directives for the Ministry to expedite action on next year’s budget estimates to enable him present the 2021 budget proposal to the National Assembly by the end of September this year.

“This for us is a journey towards ensuring that the progress we have made as a collective to return the fiscal year to January – December is maintained for the 2021 budget as well.

“The President has directed that we must deliver the budget to the National Assembly by the end of September,” the Finance Minister said. Ahmed, while giving an update on the 2020 budget implementation between January and May 2020, stated that the Federal Government’s retained revenue was N1.48 trillion, an amount representing 56 percent of government’s target.

She added that out of the sum generated as revenue, oil revenues accounted for N701.6 billion; non-oil tax revenues N439.32 billion; Companies Income Tax (CIT) and Value Added Tax (VAT) collections – N213.24 billion and N68.09 billion; and Customs collection N158 billion, respectively.

Also Read: Buhari Signs Executive Order Implementing Financial Autonomy for State Legislature and Judiciary

She added: “Other revenues amounted to N339.51 billion, of which Independent revenues was N80.22 billion. Recoveries and Stamp duty collected during the period are yet to be booked in the fiscal accounts.’’

On Expenditure performance for the same period (January – May 2020), the minister disclosed that N1.25 trillion was expended for debt service; and N1.32 trillion for Personnel cost, including Pensions. According to her, as at the end of May 2020, only N253.33 billion had been released for capital expenditure.

Ahmed, while giving underlying assumptions driving the macro-economic parameters and targets of the 2021 – 2023 Medium Term Expenditure Framework, said same was “revised in line with the emergent realities.”

She said oil price benchmark for the 2021 fiscal year was pegged at $35; and $40 for 2022 and 2023, respectively.

“Although Nigeria’s total production capacity is 2.5 million barrels per day, current crude production is about 1.4 million barrels per day – in compliance with the Organisation of the Petroleum Exporting Countries’ production quota – and an additional 300,000 barrels per day of condensates, totaling about 1.7mbpd,’’ the minister said.

She added that while the World Bank forecasts that crude oil prices would rise gradually from an average of $42 per barrel in 2021 to $44.5 per barrel in 2022; and $47pb in 2023, it was also expected that Brent crude oil prices might average $41 per barrel during the second half of 2020 and $50pb during 2021, climbing as high as $53pb by the end of next year.

“The nominal Gross Domestic Product (GDP) is expected to increase from N130,836.1 billion in 2020 to N132,125.4 billion in 2021 and then up to N138,415.8 billion in 2023,” Ahmed said.

Earlier in his welcome address, the Senate President, Ahmad Lawan, said:  “This meeting is holding at the instance of the Minister of Finance, Budget and National Planning, and the main purpose of the meeting is for the Minister to brief the leadership of the National Assembly on the 2021 – 2023 Medium Term Expenditure Framework and Fiscal Strategy Paper.

“Therefore, it will not be wrong to say that the journey to the presentation of the 2021 budget estimates by the Executive arm of Government has started in earnest.

“It is our expectation in the National Assembly, that this journey will lead to the presentation or laying of the budget estimates by the President before the end of September by the grace of God.”

 

 

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2023 Presidency: Youth Support Group gives Governor Yahaya Bello 14 days ultimatum to join presidential race or risk nationwide protest 

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2023 Presidency: Youth Support Group Gives Yahaya Bello 14 days Ultimatum to declear interest..

The coalition of youth support groups, under the name of “Governor Yahaya Bello to President Yahaya Bello’’ (GYB2PYB), has issued 14 days ultimatum to Governor Bello to declare intentions’ joining the 2023 presidential race or risk a nationwide protest

The group made their position known in a letter of invitation to contest 2023 presidential race submitted to Governor Bello at the Kogi State liaison office in Abuja on Friday

Ambassador Oladele Nihi Director General GYB2PYB said that Governor Bello has what it takes to provide purposeful leadership and good governance if elected as President in the 2023 General Elections.

“He will offer the right leadership, as he is interested in the good of Nigeria. The GYB2PYB Youth Movement is not a selfish Agenda, but an effort to project him, to market him, and to sell him to other Nigerians.

“We have searched the length and breadth of our country and found that Governor Yahaya Bello, a young man who has given women and young people the platform to be the drivers in their own affairs, will perform well if elected into the exalted office.

“The GYB (Gov. Yahaya Bello), style of leadership is what we need in this country, the leadership of a government of the young people by the young people and for the general wellbeing of all Nigerians.

“Over fifteen million Nigerian young men and women have signed a request letter to His Excellency, Governor Yahaya Bello, calling on him to accept to contest the position of the President and Commander in Chief of the Armed Forces of the Federal Republic of Nigeria in 2023.

“We believe Governor Yahaya Bello to be a detribalized Nigerian. He will stamp out Nepotism from our country, and he will handle the intractable security problems of our country.

“Because he is a young man, he will engage the women and the young men in governance and make them critical stakeholders in the affairs of the country. We believe that he is a good brand that we can sell.

We urge Nigerian youths to take the message nationwide, that Governor Yahaya Bello will handle security; he will ensure Women and Youth Inclusiveness in governance, erase all forms of ethnic and religious bias and bring massive Foreign Direct Investments into the Country.

Right now, we need a leader that can hold our country together. We are saying that the person is Governor Yahaya Bello. I believe that the challenge is to have a good leader to succeed President Muhammadu Buhari, who has tried his best. We should begin to identify somebody to take over from him and do a fantastic job.

We will make it impossible for GYB to say NO, because he holds it to Nigerians to participate in the election. It is a patriotic duty we are calling on him for. He is a man who believes in the progress and development of Nigeria, he has no choice than to accede to our request. He should come out and offer himself for the leadership of this country at this time. We are calling on him to serve. We are confident that he will come out and run for the presidency.

Recall that the group had sometime last year predicted that 2023 would be a youth political revolution year in Nigeria, saying it planned to build early structures among youth groups, to network towards possible and inevitable takeover of leadership.

Also Read;

The GYB2PYB, expressed regrets that Nigeria, with a population of more than 200 million people, 75 per cent of which were youth, said it was disheartening that less than one per cent of young Nigerians are currently included, appointed or elected into leadership positions in the country.

It said the group was set to change the narrative come 2023

“We decided to search for three qualities; a young person with capacity politically and financially, one who is already in the political system/power block and who has the track record of youth engagement and inclusion in governance, as well as appointments, requirements we found in Governor Bello,’’ it said in a statement.

Hon. Bar Medina Anako, Special adviser intergovernmental affairs and State focal person, Nigerians in diaspora Commission received the group on behalf of the Governor

Barrister Anako has assured the group that Governor Bello will surely respond to their letter of invitation asking him to join the race within the next 14 days as demanded!!

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THE MESSAGE OF THE HON. SPEAKER OF NDIGBO YOUTH PARLIAMENT (NYP), RT. HON. RIKKI CHINEDU NWAJIOFOR, ON ARMED FORCES REMEMBRANCE DAY.

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NDIGBO YOUTH PARLIAMENT

Armed Forces Remembrance Day; The Heroes of Our Land!
“The soldier above all others prays for peace, for it is the soldier who must suffer and bear the deepest wounds and scars of war.”
—Douglas MacArthur.

“Only a life lived for others is a life worthwhile”, opines Albert Einstein. Suffice it to say that the spirit cum the zeal to serve selflessly and pour out oneself profusely in service, for the good of “a neighbor” and betterment of the nation at large, is a worthwhile life. Such a life depicts a Patriot and a Nationalist.

Today, the 15th day of January has been dedicated as a day we remember and pay homage to the selfless and unquantifiable sacrifices our armed forces made and still make for us as individuals and for the nation at large. Today is a day to honour all those brave Men and Women who have served or are still serving their country with bravery, dedication and self-sacrifice.

Yes, they put up selfless sacrifices for us; keeping awake that we might sleep and giving their lives that we might not lose all the things we love. As we sleep peacefully on our beds, our “Gallant Men and Valiant Women” stand on guard, ready to give their lives for our freedom. They keep awake in the bush, in cold weather, on high sea, to make sure we sleep and snore peacefully. They are separated from their families and loved ones so we can be united with ours. They lay down their lives that we might live.

As a country, they give up themselves that we can be united and have our sovereignty upheld. According to Barrack Obama, “the soldier’s courage and sacrifice is full of glory, expressing devotion to country, to cause, to comrades in arms.” In all these their invaluable sacrifices, we need to appreciate them. We need to let them know that we are grateful. Buttressing this further, Harry S. Truman asserts; “our debt to the Heroic men and Valliant women in the service of our country can never be repaid. They have earned our undying gratitude. We will never forget their sacrifices.”

Yes, we should never forget their unflinching and unwavering loyalty and love for our beloved nation; we should never forget their unquantifiable sacrifices.

An epitaph on a soldier’s grave reads:
I did my duty,
I paid the supreme price,
I pray you’ll remember,
My sacrifice.
My life was short,
I did my best.
God grant me peace,
In my eternal rest.

What a heart-rending epitaph! Yes, they wish that we forget not their sacrifices. “The labours and sacrifices of our Heroes past shall never be in vain”! Let us remember to extend helping hands to their widows, widowers, bereaved siblings and orphaned children. They are in that condition today because their loved ones laid down their lives that we might enjoy the company of our own loved ones.

May God strengthen and bless all our military men, comfort the families of those who lost their lives for our sake and grant blissful rest to our departed Heroes. We are proud of you!!!

“A true Soldier fights not because he hates what is in front of him, but because he loves what is behind him”.
G.K. Chesterton.

By: Rt. Hon. Rikki Chinedu Nwajiofor.
Speaker, Ndigbo Youth Parliament (NYP).

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Exhausted US National Guards sleeping on duty with their weapon by their side

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Exhausted US National Guards sleeping on duty with their weapon by their side

Exhausted US National Guards sleep on Capitol floor with their weapon by their side

Members of the US National Guard who are now protecting the Capitol after the insurrection that took place last week, have been spotted sleeping on the floor in viral photos.

The exhausted guardsmen and guardswomen slept on the floor with their weapons by their side.

Exhausted US National Guards sleep on Capitol floor with their weapon by their side

This is coming after the insurrectionists vowed to stage protests in all 50 state capitals as well as the United States Capitol. Many have also reportedly promised violence.

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