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Budget Faces Hurdle as MDAs Fail to Provide Details

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  • Budget Faces Hurdle as MDAs Fail to Provide Details

The passage of the 2017 Appropriation Bill by the National Assembly has suffered a setback.

It was reliably gathered on Tuesday that the March 8 date set for the standing committees of both chambers of the National Assembly to submit their reports on the 2017 budget was no longer feasible.

Both the Senate and the House of Representatives had suspended plenary for three weeks to conduct budget defence sessions for the government’s Ministries, Departments and Agencies.

It was learnt that though the National Assembly resumed plenary on Tuesday, most of the standing committees had not been able to reconcile their figures with the MDAs under their oversight.

President of the Senate, Bukola Saraki, after a short plenary, met with other leaders of the chamber and chairmen of the committees.

At the meeting, it was gathered that majority of the chairmen complained that the estimates presented by the executive lacked details.

A dependable source, who was at the meeting, said apart from missing details, several chief executives of the MDAs failed to appear before the committees for budget defence.

The source said, “Most of the committees tabled various complaints. About 60 per cent of them complained that most MDAs did not provide details of their estimates. For instance, on the Social Intervention Fund of the Federal Government, a lump sum was mentioned for the welfare programme without critical details.

“If the government plans to stay N5,000 stipend to each poor Nigerian, we should know their total number and how many they are by geopolitical zones, states and local governments.

“There is also the issue of lack of adequate information on disbursement of funds. It will interest you to know that the Ministry of Finance was asked to go and bring certain missing details on Monday.”

The source further said that lawmakers also lamented that the Budget Office of the Federation and Debt Management Office were issuing conflicting figures, adding that the two offices seemed to be in conflict.

The source added, “Apart from these, there are issues such as non-appearance of the heads of the MDAs before the committees. Also, the executive seems not to have learnt from its mistakes in 2016. Again this year, there are still questionable provisions in the budget such as computers and generators, which had been catered for by the 2016 budget. Some Civil Society Organisations have also fished out some of such items.

“The lawmakers also mentioned massive shortfall in spending arising from the implementation of the 2016 budget. A lot of the MDAs could not give proper account of their budgetary spending last year.”

The source disclosed that Saraki gave the committees two more weeks to meet with the MDAs on the irregularities. This, he said, would be taken by the Senate as a “clean-up” exercise in the budget.

According to him, all the interface should be concluded by the end of February.

“But the success of the clean-up depends on the degree of cooperation from the MDAs,” the source noted.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Why I’II Never Support Peter Obi Again – Doyin Okupe

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A former Director-General of the Labour Party’s 2023 presidential campaign, Doyin Okupe, has declared that he would never support the 2023 presidential candidate of the party, Peter Obi, in any of his political ambitions again.

Okupe, who had recently resigned his membership of the LP and withdrew his backing for the former LP’s presidential flagbearer, expressed displeasure at Obi’s remarks on economic situation in the country.

Specifically, Okupe, while featuring on a national television programme, responded to some remarks credited to Obi on the hardship ravaging the nation.

Obi had been reported to have critisised the administration of President Bola Tinubu, suggesting that people from the South-West are feeling the heat of the hard times just like other citizens from other parts of the country.

For Obi, Tinubu had campaigned on the mantra that he is a Yoruba man and that it was his turn, stating that people in Yoruba land are not even getting food items and other essential commodities at cheaper rates notwithstanding that the President is from their region.

However, Obi’s submissions had attracted mixed reactions on social media with some criticising him while others supported his assertions.

Weighing in on the raging controversy, Okupe joined the critics, describing Obi’s remark as an “insult” to people in the South-West.

He argued that Obi’s statement publicly belittled the South-West, despite receiving support from prominent Yoruba leaders and other residents of the zone during his presidential electioneering ambition.

Okupe claimed that people from the South West felt insulted hearing Obi uttered such remarks, noting that many, including himself, who supported him regretted it.

He mentioned former President Olusegun Obasanjo as one of the prominent Yoruba indigenes who backed Obi’s presidential bid, saying although he did not regret supporting Obi, he would never support him again.

Okupe attributed his initial support to the agreement that a southern president should emerge, specifically from the South-East, insisting the betrayal he felt by the criticism of the South-West by the former governor of Anambra State.

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Donald Trump Projected To Occupy White House, Congratulated By Nigerian President

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President Trump Signs Executive Order In Oval Office Of The White House

There is an indication that the former President of the United States of America, Donald Trump may become the 47th President of the US.

Trump became more confident in his political comeback in American history after securing his third battleground victory on Tuesday evening by clinching Pennsylvania, bringing him closer to a White House win.

The 78 presidential candidates of the Republican Party already won 266 of the 270 Electoral College votes needed to defeat Vice President Kamala Harris of the Democrat Party.

Trump reversed his 2020 losses in the crucial states of Georgia, Pennsylvania, and Wisconsin — running up big margins among his white rural and working-class base while making significant inroads among ethnic minorities.

Addressing supporters in Florida, Trump claimed victory, saying his performance is unprecedented in the history of the country.

He promised to help the US to heal, stressing that the country needs help very badly.

He also assured citizens of fixing critical infrastructure and other necessary areas of the country.

Meanwhile, President Bola Tinubu on Wednesday extended his congratulations to Donald Trump on his re-election as the 47th President of the United States of America.

Tinubu expressed his eagerness to strengthen the ties between Nigeria and the United States amid the complex challenges and opportunities of the contemporary world.

His congratulatory message was contained in a statement signed by his Special Adviser on Information and Strategy, Bayo Onanuga.

Identifying synergy and cooperation with the US government as a means of fostering economic prosperity, the President of Nigeria noted that the relationship would promote peace, and address global challenges that affect their citizens.

He said Trump’s victory reflects the trust and confidence the American people have placed in his leadership.

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EFCC Nabs Ex-Delta Governor, Okowa, For Alleged N1.3trn Fraud

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Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested former Delta State Governor, Ifeanyi Okowa, over the alleged diversion of N1.3 trillion.

Sources with the EFCC revealed that Okowa visited the EFCC office in Port Harcourt, Rivers State, on Monday before he was subsequently detained by officials.

The N1.3 trillion reportedly represents the 13% derivation fund from the federation account between 2015 and 2023.

It was gathered that Okowa was at the Port Harcourt office of the Commission following an invitation from investigators probing the allegations against him.

The former governor was said to have been apprehended no sooner than he arrived at the anti-graft office.

Okowa was also accused of failing to account for the funds, as well as another N40 billion he allegedly claimed was used to acquire shares in UTM Floating Liquefied Natural Gas.

Sources said the former governor reportedly bought shares worth N40 billion in one of the country’s major banks, representing an 8% equity stake, to support the offshore LNG project.

The funds are alleged to have been misappropriated for other purposes.

They noted that investigators are also examining the alleged diversion of funds by the former governor to acquire estates in Abuja and Asaba, Delta State.

Okowa was the running mate to Atiku Abubakar, the presidential candidate of the People’s Democratic Party in the 2023 election.

He was the governor of Delta State from 2015 to 2023 and was succeeded by Sheriff Oborevwori, the incumbent Governor.

When contacted, EFCC spokesperson, Dele Oyewale, confirmed the arrest but declined further comment on the matter.

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