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Akeredolu Approves Upward Increase in 2018 Budget



Governor Rotimi Akeredolu
  • Akeredolu Approves Upward Increase in 2018 Budget

Governor Oluwarotimi Akeredolu has expressed a dire need to reduce recurrent expenditure, and hike capital expenditure so as to bridge the huge infrastructural deficit in Ondo State.

Akeredolu said this on Tuesday in Akure, while signing the 2018 Appropriation Bill of about N172.27billion that was presented to the State Assembly in December to over N181.424billion alongside two other bills into laws. He decried the huge concentration of budgets in the past on recurrent expenditures, attributing it to the poor and worrisome levels of development in the state.

Akeredolu explained that the decision is to ensure that governance was delivered to the majority of the people who are not in the employment of the state. Meanwhile, the Speaker, Bamidele Oleyelogun, noted that the upward increment in the budget was necessary to meet up some titles and heads that were inadvertently omitted at the presentation level.

A total budget of N181.424billion was signed into law by the governor who assured that the 2018 budget will advance the course of development in the state.The Governor, who assured that the 2018 budget would enhance huge development, said the capital expenditure stands at N80.929billion, representing 46 per cent of the total budget, claiming it is the highest since the creation of the state. He disclosed that debt service would take an estimated sum of N13.600billion, which is 7.5 per cent, while Statutory transfers to OSOPADEC and local governments are N8.307billion, or 4.6 per cent.

“The sum of N78.588billion which represents 43.3 per cent is set aside for recurrent expenditure. Put simply, this amount will be expended on salaries, allowances and grants. This is still very much on the high side considering the state of our development,” he said.

Similarly, he signed the Contributory Health Insurance Scheme Bill, saying the bill would ensure that every resident of the state has access to quality health care services.He said: “The bill will ensure that all residents of Ondo State have financial protection, physical access to quality and affordable health care services.

“It will also protect families from the financial hardship posed by huge medical bills, regulate the rise in the cost of healthcare services “It will ensure that the poor and vulnerable shall be guaranteed the basic minimum package as defined under the National Health Act.”

He said the bill would bring equitable distribution of healthcare costs across different income groups and maintain high standard of health care delivery services within the health sector.

The governor, without mincing words, added that the bill would provide efficiency in healthcare service delivery, and improve private sector participation in the provision of health care services and a host of others.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade experience in the global financial markets.


#EndSARS Protesters Kill as Security Operatives Open Fire at Lekki Toll Gate



Security Operatives Open Fire on #EndSARS Protesters at Lekki Toll Gate

Nigerian security operatives deployed to Lekki Toll Gate following the announcement of a 24-hour curfew by Lagos State Governor, Babajide Sanwo-Olu, opened fire on peaceful protesters on Tuesday, October 20, 2020.

According to numerous accounts of protesters, the army started shooting even before the curfew announced to commence by 9 pm on Tuesday.

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Lagos Imposes 24 Hour Curfew as #EndSARS Protest Turns Violent



Sanwo-Olu Imposes 24 Hour Curfew in Lagos as Hoodlums Hijacked #EndSARS Protests

The Executive Governor of Lagos, Babajide Sanwo-Olu, on Tuesday, imposed a 24-hour curfew on all parts of the state as peaceful #EndSARS protest turned violence amid the destruction of properties and lives.

In a statement released by the governor through his official Twitter account @jidesanwoolu, the governor said “I have watched with shock how what began as a peaceful #EndSARS protest has degenerated into a monster that is threatening the well-being of our society.

“Lives and limbs have been lost as criminals and miscreants are now hiding under the umbrella of these protests to unleash mayhem on our state. As a government that is alive to its responsibility and has shown a commitment to the movement #ENDSARS, we will not watch and allow anarchy in our dear state.”

“I, therefore, hereby impose a 24-hour curfew on all parts of the State as from 4pm today, 20th October,2020. Nobody, except essential service providers and first responders must be found on the streets.”

This was after reports of numerous attacks and destruction of properties by certain elements that the Nigerian youths claimed were sponsored by politicians to disrupt their agitation and invalidate the entire protest.

On Monday, prisoners were freed in Benin, Edo State by unknown individuals either sponsored by politicians or part of the protesters that gone rogue or with different agenda.

In Abuja, a group of thugs (sponsored or not) burnt several vehicles claimed to be parked by peaceful protesters while in Lagos, the story is not different as unscrupulous elements have been stealing and attacking people.

With a 24-hour curfew now in place in Lagos and Edo States, the youths agitating may be forced to eventually meet with the government to discuss their demands and implementation methodology.

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Buhari Bows to Pressure, Overhauls Murderous Police Unit, SARS



FG, NPF Dissolve SARS Amid Nationwide Protests

President Muhammadu Buhari has finally bowed to pressure to disband the murderous Special Anti-Robbery Squad (SARS) unit of the Nigeria Police Force (NPF).

In a statement released on Sunday, Mohammed Adamu, Nigeria’s Inspector General of Police, said the Special Anti-Robbery Squad unit had been abolished “with immediate effect”. He, however, said SARS officers would be redeployed to other police units, formations and commands that the Nigerian people are saying also needs reform.


This was after President Buhari had said he met with the Inspector General of Police on Saturday to discuss reform of the UNIT against a complete overhaul being pushed by millions of harassed, dehumanised and disrespected Nigerian youths.

The statement further aggravated Nigerian youths, who encouraged Nigerians abroad to stage protests across the nation’s embassies in a move to draw international media and organisations to the plight of youths in Africa’s largest economy. Sensing chaos amid expected economic recession in the third quarter, President Buhari and the Nigeria Police Force quickly dissolved the murderous anti-robbery squad to force decorum and calm millions of angry Nigerian youths.

Nigerian youths, both celebrities, influencers and regular people, have used their social media backed with action to compel the Nigerian government, known for blatant disrespect, disregard and the use of counter-protests to suppress and discredit dissenting voice, to finally put to an end a police unit that has killed several youths for owning an iPhone, having a laptop, driving a car or even looking good.

This is a win for the Nigerian youths and sent a strong message to the leaders that youths will no longer tolerate their excesses and henceforth would be demanding accountability, transparency and the right implementation of the rule of law regardless of class, status or position.

To the youths, it validated what the majority have been clamouring for, UNITY that transcends tribes and religions. If Nigerian youths stick together and continue to demand change in one voice with civil disobedience, we will eventually have a Nigeria we all can be proud of.

Congratulations to US!.

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