Governance

Osun: 2026 Proposed Budget Scales Second Reading

By Web News 530

By Mojisola Oladele 

Osun State House of Assembly has commenced plans towards the passage of the State 2026 Appropriation estimate as the bill scales through the Second Reading.

The 2026 Budget estimate scaled the second reading after the presentation of the policy thrust by the Majority Leader of the Assembly, Mr. Kofoworola Adewunmi , during plenary held at the Assembly Complex, Osogbo.

Mr. Adewunmi called for the speedy consideration the 2026 Budget estimate and emphasized that the proposed budget size is aimed towards completing all ongoing projects and initiating new projects where it is essential.

The lawmaker who stressed that, the executive had consulted with the assembly during the budget compilation noted that it is evidently clear that the full implementation of the budget is visible and achievable.

He stated that the 2026 Budget would be revenue driven, hence the need for  Ministries, Departments, Agencies ,MDAs to brace up to attain an improved Internally Generated Revenue, IGR. 

In his remarks, The Chairman of the House Committee on Finance and Appropriation, Mr. Olumide Fatunmise, expressed confidence in the governor’s financial stewardship, noting that previous budgets under the current administration have been successfully implemented.

In separate Contributions on the Appropriate Bill estimate , Mr Kanmi Ajibola, Prince Adewunmi Adeyemi, Prince Adekunle Oladimeji, Mr. Abiola Awoyeye and Mr. Afeez Abiodun assured residents that the budget would improve their standard of living.

In his remarks, The Speaker, Prince Adewale Egbedun directed House Committee on Rules and Business and House Committee on Finance and Appropriation to set the motion in place for the budget defence exercise, scheduled to commence from 24th November, 2025 to 4th December, 2025.

Recall that, The state governor , Senator Ademola Adeleke, on Wednesday laid before the Assembly a proposed budget of over ₦705 billion for the 2026 fiscal year Christened “The Budget of Economic Transformation”.

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Politics

OYHA Approves Upward Review of Budget

By Web News 302

By Mosope Kehinde

The Oyo State House of Assembly has passed and approved an upward review of the state’s budget, increasing it from ₦678 billion to ₦684 billion. 

This approval came after the House Committee on Finance, Appropriation, and State Economic Planning presented its report read by its Chairman, Mr. Sunkanmi Babalola representing Egbeda State Constituency at the plenary presided over by the Speaker, Mr. Adebo Ogundoyin.

According to the Speaker, one major reason for the upward review of the 2025 budget to N684b is to accommodate emerging priorities and critical projects that will drive economic growth, improve infrastructure, and enhance the overall well-being of our citizens.

Recall that Governor Seyi Makinde on November 13, 2024, presented a budget proposal of Six hundred and Seventy-Eight billion, Eighty-Six million, Seven hundred and Sixty-Seven thousand, Three hundred and Thirty-Two naira, Eighteen kobo (#678,086,767,332.18).

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Economy

2024 Budget will benefit Nigerians- Senator Alli 

By Web News 442

By Oluwakayode Banjo

Senator Sharafadeen Alli (APC-Oyo South) has said that the 2024 Budget would benefit Nigerians, urging them to continue supporting President Bola Tinubu’s administration. 

This is contained in a statement by his Special Adviser on Media, Mr Akeem Abas and made available to newsmen on Friday in Ibadan. 

The lawmaker made the call on Thursday while featuring on a programme ‘The Platform’ anchored by Akeem Kareem on Success 105.3 FM in Ibadan.

Alli, the Senate Committee Chairman on Electoral Matters, said that the president was leaving no stone unturned to return Nigeria to economic prosperity.

“The 2024 Budget is different from the 2023 budget. We’ve been running a deficit budget for several years. The reality today is that the percentage of the deficit is less than what it used to be.

“Today, we have more money to conserve as a result of improvement in revenue generation. President Tinubu is doing very well. May God bless him and give him good health.

“We are going to get there. It may not be really visible, but there have been lots of improvements. You can also see that those taking billions are not been spared,” he said.

Speaking on the distribution of cash to the vulnerable, Alli said it was not the best, but better than not doing anything at all.

He acknowledged the hardship Nigerians were going through which would soon be over, urging them to persevere.

“I am Nigerian and know things are very hard today. This hardship is temporary and will soon be over. It is just like pouring iodine on a sour, at first it will be painful and later dry off.

“Giving cash is not the best, but a stop-gap. It is better to give it than not doing anything at all,” he said. 

The lawmaker described as untrue the information that all National Assembly members have collected bags of rice or hundreds of million naira, saying there was nothing of such.

According to him, it was a statement made by the president in October, but we haven’t received of such till we left on December 31, 2023.

“There is none of the three senators from Oyo State who has not distributed more than two trucks of rice during the festive period. This is purchased individually by the three senators.

“We have not received any rice from the government. We will continue to serve our people diligently as promised during the campaign,” he said.

Speaking on speculations that Alli was executive lots of projects within his district because he is eyeing the governorship seat in 2027, the lawmaker said that he was elected as a senator.

He said that he was being guided by his electioneering promises to the people, promising to do more for his people.

“I promised to sink 100 boreholes in the 99 wards that make up Oyo South. Today we have done more than 40 and hoping to finish by July this year.

“It is not about being governor, I was elected as a senator. I am contented today being a senator. Where I will be in 2027 is in the hand of God,” he said.

In the area of legislative functions, Alli said he had since his assumption of office been involved in several oversight functions.

The lawmaker said that no fewer than 1000 youths benefitted from e-commerce and agribusiness, while 3,000 widows as well as 3,000 traders benefitted from N70 million worth of food bank.

Alli said that he facilitated ICT centres, installed no fewer than 200 solar lights, donated inverters/boreholes to the police, paid WAEC fees of 54 students, constructed a public toilet, and assisted individuals and associations financially. 

He said the 10th National Assembly under the leadership of Senator Godswill Akpabio is determined to make laws that would benefit Nigeria and Nigerians.

“I have been involved in some bills and motions, prominent among which was the one I moved for a befitting burial/Immortalisation of Pa Taiwo Akinkunmi, designer of the national flag.

“I have a private bill on pensioners issues. What we have on the ground today is not in consonance with realities. I already proposed some amendments to the bill.

“I am also much involved in the proposal for the establishment of the Federal Medical Centre in Ibarapa. This was the initial proposal of Dr Ajibola Muraina, the former representative of Ibarapa Central/North federal constituency,” he said.

Alli said that he was working with the incumbent representative of the Constituency, Dr Anthony Adepoju towards actualising the proposal at the National Assembly.

He said that he was also involved in the successes recorded in some oversight functions carried out by other committees of the National Assembly, particularly that of the judiciary.

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Economy

Tinubu Signs 2024 Budget into Law

By Web News 484

President Bola Tinubu on Monday afternoon signed into law the 2024 Appropriation Bill at the Presidential Villa, Abuja.

Tinubu signed the N28.7tn budget document earlier approved by the National Assembly hours after he arrived in Abuja from Lagos where he spent the past week holidaying.

The budget is N1.2tn higher than the budget he proposed to a joint session of the National Assembly on November 29, 2023.

Then, the President had pegged the budget deficit for the 2024 fiscal year at N9.18tn.

He stated, “The N9.18tn deficit is lower than the N13.78tn deficit recorded in 2023 which represents 6.11 per cent of GDP.

The deficit will be financed by new borrowings totalling N7.83tn, N298.49BN from Privatisation Proceeds and N1.05 trillion drawdown on multilateral and bilateral loans secured for specific development projects.”He also emphasized the need to maintain the January-December implementation cycle saying “Our goal is to ensure that the Appropriation Act comes into effect on January 1, 2024,”.

On Friday, December 29, 2023, the Senate increased the 2024 budget by N1.2tn, moving the budget from N27.5tn to N28.7tn.According to the report submitted by the Appropriation Committee led by Senator Solomon Adeola, aggregate expenditure was pegged at N28,777,404.073.861; statutory transfers at N1,742,786,788,150; recurrent expenditure at N8,768.5330,852; capital expenditure at N9,995,143,298,028 and GDP at 3.88 per cent.

Punch/Olaolu Fawole

Economy

Ondo Budget of Economic Resilience Scales Second Reading

By Web News 349

By Augustina Okinedo

The Ondo State 2024 budget proposal has scaled through a second reading at the House of Assembly.

The budget was thereafter committed to the Committee on Finance and Appropriation.

The Speaker, Mr Olamide Oladiji then directed that all the Ministries, Departments and Agencies to liaise with the committee for budget defence.

 Acting Governor, Lucky Aiyedatiwa had presented a budget proposal of 384.5 billion for the 2024 fiscal year to the state House of Assembly.

The budget is tagged BUDGET OF ECONOMIC RESILIENCE and infrastructural development.

It has one hundred and seventy-two billion, five hundred and eighteen million, three hundred and fifty-three naira only as recurrent expenditure while 

two hundred and twelve billion, fourteen million, eight hundred and fifty-nine thousand, six hundred and forty-seven is for capital expenditures.

According to Mr Ayedatiwa, it will be funded majorly from the statutory allocation, VAT, grants, and IGR.  

He reiterated that if the current drive by all revenue-generating agencies, spearheaded by the Ondo State Internal Revenue Service was sustained, the state would be able to attain the desired level of internal revenue generation.

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Infrastructure

Lawmakers Canvass Fund for Routine Maintenance of Ogun Roads

By Web News 414

By Omolara Adasofunjo

Lawmakers in Ogun State have canvassed more funding for the Public Works Agency to carry out routine maintenance of roads across the state. 

The House of Assembly members also tasked the Ministry of Works and other relevant agencies to conduct feasibility studies on roads in the three Senatorial Districts of the State and embark on palliative works, where necessary before the end of the dry season. 

They appealed at a budget defence session with the State Commissioner for Works and Infrastructure, Mr Adebowale Akinsanya and the Heads of allied agencies in the sector.

Addressing the House Committee on Finance and Appropriation, led by Mr Musefiu Lamidi, the Commissioner listed the major targets of the Ministry in the next fiscal year as the completion of all ongoing roads as well as river crossings and overhead bridges. 

He pointed out that new roads would also be initiated to provide standard roads across the geopolitical zones of the State with a total budget size of 170.6 billion for the next fiscal year. 

Other agencies that had their 2024 budget proposals considered by the lawmakers included the  Ministry of Physical Planning and Urban Development, the State Housing Corporation, the Ministry of Forestry, the Ministry of Agriculture and the Bureau of Lands and Survey.

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Politics

Lawmakers Embark on Budget Defence for Oyo MDAs

By Web News 381

By Mosope  Kehinde 

Following the presentation of the 2023 Budget Proposal of N434, 221, 765, 938.79 by the Executive Governor of Oyo State, Engr. Seyi Makinde to the State legislature, the lawmakers have commenced the Budget defence exercise for the various Ministries, Departments and Agencies. 

Speaking during the exercise, the Standing Committee Chairman on Finance, Appropriation and State Economy Planning, Hon. Sunkanmi Babalola reiterated that the Oyo State House of Assembly was determined to work with the Executive Arm of Government through Ministries, Departments and Agencies, as well as other stakeholders in the State for the successful implementation of the proposed 2024 Budget as presented by Governor Makinde.

Hon. Babalola stated that the Committee,  through a collective efforts of all members to ensure that the next fiscal year is better than the outgoing year has painstakingly scrutinised over thirty Ministries,  Departments and Agencies since the commencement of the exercise on Thursday,  7th November,  2023.

He stated further that the House is not only ensuring holistic approach in the on –  going Budget Defence exercise but critically working to realise the economy recovery as tagged on the Budget by the Governor.

The Chairman assured that the House , through various Committees will maintain, necessary checks and adequate monitoring on all the MDAs for outstanding performances inorder to achieve the desired goals of the Present Administration in the State.

Hon. Babalola however commended the State Governor for his vision and pragmatic leadership towards initiating an achievable and realistic Budgeting system in the Pace Setter State.

In his remarks, the Vice Chairman of the Committee on Finance, Appropriation and State Economy Planning, Hon. Gbenga Oyekola representing Atiba State Contituency, urged the MDAs to work with the House of Assembly, through their relevant Committees in order to have easy access to the funds allocated to each of them.

Honourable Oyekola noted that most MDAs believe that when the Committees are on oversight functions, it means that they’ve come to request from them.

“You can’t separate Committees from the MDAs, most of the MDAs believe that when the Committees are on their neck during the oversight, they are looking for money, forgetting that relevant committees of the House can help them out in their day-to-day activities”.

“The Committees can raise a lot of motions on their behalf and the Resolutions will be passed to the Executive,  which will make the Executive gear up to the task.” He added

Contrary to the insinuation in a section of the media about the 2024 Budget Proposal,  the lawmaker declared that the Budget is achievable and realistic with good performances.

He, however, called on the MDAs to reciprocate the good gesture of the present Administration in the State by being alive to their responsibilities.

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Economy

Oyo Optimistic 2024 Proposed Budget Will Drive Economy

By Web News 498

By Iyabo Adebisi

Oyo Government says the 2024 proposed budget will cushion inflation and sustain the state’s economy.

The state’s Commissioner for Budget and Economic Planning, Professor Musibau Babatunde said this during a 5-hour 2024 budget breakdown and analysis held at the Conference Room, Ministry of Finance, Secretariat, Ibadan.

Professor Babatunde said the outgoing 2023 budget of the state had been adjudged better economically as it had helped the state in achieving its key pillars by over 70 per cent.

He noted that the 2024 Budget proposal of 434 billion naira would better the state economically based on the inputs of the citizens, government officials executives and civil society organizations as it dwells on economic recovery plans. 

According to Professor Babatunde, the recovery plans included plans towards reviving economic and agriculture units of the state with 1 billion naira and 300 million earmarked to smallholder farmers, agric-business trainees and small and medium enterprises with a singular digit.

Professor Babatunde said with the 2024 proposed budget there would be no industrial strikes through the cooperation of the civil servants, while the state state would ensure every taxable entity in person and organizations are moderately taxed for an eventful sustainable development plan of the state.

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Economy

EFCC Presents N76.586 billion Budget Proposal to House of Reps 

By Web News 350

By Oluwakayode Banjo

The Economic and Financial Crimes Commission, EFCC, on Tuesday, December 5, 2023, presented a budget of N76.586billion (Seventy Six Billion, Five Hundred and Eighty-Six Million Naira) as its budget proposal for 2024 to the House of Representatives Committee on Financial Crimes.

The proposed budget represents a 53.48% increase over and above the Commission’s 2023 appropriation of N49.901 billion (Forty-Nine Billion, Nine Hundred and One Million Naira).  In the budget estimate,  a total sum of N37.074 billion(Thirty-Seven Billion, Seventy Four Million Naira) was proposed as personnel cost, N14.513billion( Fourteen Billion, Five Hundred and Thirteen Million Naira) as overhead cost and N25.000( Twenty Five Billion Naira) as capital cost.

Presenting the budget to the House of Representatives Committee on Financial Crimes,  Executive Chairman of the EFCC, Ola Olukoyede stated that the 2024 proposed estimate of N76.486 billion represented a significant increase over  2023’s N49.901 billion budget owing to additional funds needed for overhead, personnel and capital costs.

“This increase is solely attributable to the increase in personnel cost from N36.834billion to N37.074billion in 2024, overhead cost from N10.535billion to 14.513billion in 2024 and capital cost from N2.531billion to N25.000billion in 2024,” he said.

Commenting on the 2023 budget performance, Olukoyede explained that the sum of N36.835billion was appropriated as the Commission’s personnel cost for the year, “out of this figure, the sum of N28.452billion representing 77% has been released for the payment of salary and allowances of staff on the Commission’s payroll between January and November 2023. He added that “the sum of N7.024 billion representing 67% of the N10.535 billion appropriated for the Commission for its overhead cost in 2023 has so far been released.”

The EFCC Chairman further stated that the Commission’s request for additional funds for overhead is due to the high cost of air travel tickets, motor vehicle fuel cost, diesel cost and the high cost of maintenance of buildings, operational vehicles and office equipment in the headquarters and fourteen Zonal Commands.

 He appreciated the Committee’s support for the Commission in the discharge of its duties and the successes it is achieving in the fight against economic and financial crimes and other acts of corruption.

Responding, Chairman, the House  Committee on Financial Crimes, Ginger Obinna stated that financial crimes pose a significant threat to the stability and progress of any economy. “In recent years, our nation has witnessed a surge in sophisticated financial crimes that demand our immediate attention and robust defense mechanisms.  From money laundering to cybercrimes, the challenges are multifaceted and ever-evolving. It is our duty to stay ahead of these threats, adapt our strategies and equip ourselves adequately to counteract the forces that seek to undermine our economic well-being and that of our nation.” He stated that the budget’s defence and discussions on issues related to it were a reflection of the Committee’s commitment to creating an environment where citizens can trust the financial institutions that drive the economy and which will empower the EFCC to carry out its vital duty. “It is a pledge to provide the necessary resources to empower the Economic and Financial Crimes Commission to carry out its vital mission effectively,” he said.

Governance

Makinde Presents Over 434.2bn Budget Proposal

By Web News 414

By Mosope Kehinde 

Oyo State Governor, Engineer Seyi Makinde has presented the 2024 budget proposal of over 434.2 billion naira, (Four hundred and thirty-four billion, two hundred and twenty-one million, seven hundred and sixty-five thousand, nine hundred and thirty-eight naira, seventy-nine kobo.) to the state’s House of Assembly.

In the 2024 appropriate bill tagged Budget of Economic Recovery, the capital expenditure took 222.3BN of 2.4% of the budget while total recurrent expenditure carried 211.8bn.

Education took the larger share of the budget allocation with 90.6bn, a 20percent of the total budget while 74.3b was budgeted for Infrastructure, taking 17.11% of the 2024 appropriation.

Also in the breakdown, the Health sector took 40.9bn of about 9.44% with the Agricultural sector getting 15bn, making a 3.65% of the total budget.

Governor Makinde who said an amount of 72 BN has been estimated as the state internally generated revenue, IGR promised the commitment of his administration to surpass the 7p percent 2023 budget performance.

He disclosed that the budget is opportunity for the administration to show responsiveness to current economic reality following the Removal of fuel subsidy.

The governor insisted that his administration would not to increase tax but expand the tax net

Details later..

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Politics

Osun Assembly Wants MDAs Collaboration on Budget

By Web News 447

By Mojisola Oladele 

The Chairman, House Committee on Finance and Appropriation, Mr. Saheed Fatunmise wants Ministries, Departments and Agencies to prioritize a strong collaboration with the Assembly towards actualizing the proposed budget estimate for the next fiscal year.

Mr. Fatunmise made the call while addressing the MDAS during the ongoing defence budget exercise held at the State Assembly Complex, Osogbo.

He appreciated the Ministries, Departments and Agencies, who have appeared from the commencement of the exercise to cooperate with the finance and appropriation committee.

Mr. Fatunmise who said the Osun State House of Assembly is determined to ensure judicious and purposeful use of the public funds stressed that taxpayers are entitled to social amenities.

The State Ministry of Environment and Sanitation team was led by the commissioner, Mr. Mayowa Adejorin who presented the ministry’s Budget estimates for the year 2024.

However, the lawmakers took time to examine the performance of the Ministry of Environment and Sanitation especially on issues relating to how to keep the State clean and how to avert environmental hazards.

The lawmaker representing Ife Central state constituency, Mr. Abiola Awoyeye expressed the timely need for the Special Adviser on Mining and Mineral Resources to look into the activities of illegal and indiscriminate miners in the state.

During further drilling for the State Ministry of Environment, lawmakers including, Prince Adekunle Oladimeji, Prince Adewumi Adeyemi, Mr. Babajide Kofoworola, Mr. Sikiru Bajepade and the Chairman House Committee on Environment and Sanitation, Mr. Folorunso Ogundare urged the Ministry to live up to expectations and redouble its efforts in the area of Internally Generated Revenue through the mineral resources the state is blessed with to boost the Economy.

Thereafter Committee on Finance and Appropriation considered all the presented budget estimates of the appeared MDAS.

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Governance

Makinde Approves Promotion of Over 7,000 Civil Servants

By Web News 369

...To Present the 2023 Supplementary Budget to OYHA

By Oluwakayode Banjo

The Oyo State Governor, Engr. Seyi Makinde has approved the promotion of all civil and public servants whose promotions were due in 2022.

In a media briefing today, on the 7th Executive Council meeting of Omituntun 2.0, the Commissioner for Information and Orientation, Prince Dotun Oyelade, said the development is consistent with government policy on workers’ welfare in the past 4 years.

The Commissioner for Information and Orientation recalled that the Seyi Makinde-led conducted the 2017-2021 promotion exercises.

For 2022, the Governor has given approval for the conduct of the promotion of 7, 276 civil servants.

Also speaking, the Commissioner for Budget and Economic Planning, Prof. Musbau Babatunde said Exco approved the realignment of the 2023 supplementary budget, to be presented to the Oyo State House of Assembly for approval.

He said the decision was necessitated by the twin economic policy of subsidy removal and the unification of exchange rates has led to some shifts in macro-economic fundamentals in the state, with respect to inflation, exchange and interest rates.

The Commissioner said the Oyo State Government took into decision certain projects that are going on, overridden by costs.

He added that requests by MDAs on the need to situate their current budget performance in the context of the shift in macroeconomic fundamentals. 

Babatunde said the increment in the 2023 budget size is from Three Hundred and ten billion, Four hundred and thirty-two million, five hundred thousand naira (N310,432,500,000.00)

to the sum of Three hundred and Fifty-two billion, Three hundred and Eighty-two million, five-hundred thousand, (N352,382,500,000.00)

The Commissioner also said idle funds in some MDAs have been realigned in line with the current economic realities.

He said the Oyo State Government is currently negotiating with the Nigeria Labour Congress, and decisions taken from the meeting will be included in the realigned supplementary budget.

The Commissioner said the Medium Term Expenditure Framework (2024-2026) on which the 2024 budget will be premised has been approved by the Exco.

The approved figure for this is Four Hundred and Twenty-four Billion, Four Hundred and ten Million, Six hundred and eleven Thousand, Nine hundred and thirty-eight naira (N424,410,611,938.00)

This is an increase of the sum of Sixty-nine Billion, Two Hundred and Thirty-seven Million, Six hundred and Fifty-eight thousand, Twenty-five naira, (N69,237,658,025.00) which represents 19.49% over the 2023 pre-empted figure of Three Hundred and Fifty-five billion, One Hundred and Seventy-two Million, Nine Hundred and Fifty-three thousand, Nine-hundred and thirteen thousand, (N355,172,953,913.00)

He said the current realigned budget of Three hundred and Fifty-two billion, Three hundred and Eighty-two million, five-hundred thousand naira, (N352,382,500,000.00) mirrors the Oyo State Government’s projection perfectly, for the year 2023.

“We expect the Medium Term Expenditure Framework to be a good guide for the fiscal balance of the year 2024 budget”

Prof. Babatunde added that the Executive Council meeting approved the implementation of the Oyo State Social Protection Document, developed in conjunction with UNICEF.

He said the implementation department, which will be supervised by his office, with the support of relevant agencies, will reduce the challenges of poverty incidents in the state.

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Economy

Oyebanji Presents 2024 Budget Estimate

By Web News 459

By Kazeem Ayodeji

Ekiti State Governor, Mr Biodun Oyebanji, has presented the 2024 budget estimate of about one hundred and sixty billion Naira to the State House of Assembly.

Presenting the annual budget, tagged “Budget of sustainable growth and development” at the assembly complex in Ado Ekiti, governor Oyebanji, said the proposed expenditure was prepared towards achieving his administration’s six points transformation agenda.

He said the budget would enable the government to fulfill its social contract signed with the people by focussing more on Capacity building for youth and women, agriculture, urban and rural electrification, roads construction, health, renovation of schools and construction of indoor sports complex among others.

The governor who highlighted various achievements of his administration in the last one year, proposed the capital expenditure of over seventy billion Naira while about ninety billion Naira is estimated for Recurrent expenditure for the 2024 budget.

The speaker of the House Mr Adeoye Aribasoye passed a vote of confidence on the performance of the governor and the budget, with a promise that the 7th assembly would give the proposed financial appropriation the deserved consideration and speedy passage.

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Economy

Buhari Assents to 2022 Amended Appropriation Act

By Web News 552

President Muhammadu Buhari has assented to the new Appropriation Bill recently passed into law by the National Assembly.

Senior Special Assistant to the President on National Assembly Matters (House of Representatives) Umar El-Yakub said the new law repeals the Appropriation Act passed by the lawmakers in December 2021 and enacts a new Appropriation Act, 2022.

This he says authorizes the issue from the Consolidated Revenue Fund of the Federation the total sum of ₦17,319,704,091,019 (seventeen trillion, three and nineteen billion, seven and four million, ninety-one thousand and nineteen Naira) only.

Out of this, ₦817,699,410,210 (eight hundred and seventeen billion, six hundred and ninety-nine million, four hundred and ten thousand, two hundred and ten Naira) only, is for Statutory Transfers, while ₦3,978,087,110,437 (Three trillion, nine hundred and seventy-eight billion, eighty-seven million, one hundred and ten thousand, four hundred and thirty-seven Naira) only will be for Debt Service.

Similarly, ₦7,108,621,131,849 (seven trillion, one hundred and eight billion, six hundred and twenty-one million, one hundred and thirty-one thousand, eight hundred and forty-nine Naira) only is for Recurrent (Non-Debt) Expenditure while the sum of ₦5,415,296,438,523 (five trillion, four hundred and fifteen billion, two hundred and ninety-six million, four hundred and thirty-eight thousand, five hundred and twenty-three Naira) would be for Contribution to the Development Fund for Capital Expenditure for the Year Ending on the 31st day of December, 2022.

Channels/Olaolu Fawole

Economy

Lawmakers Rate OSOPADEC Low in Budget Performance

By Web News 621

Ondo State House of Assembly has expressed displeasure at the budget performance of the state oil producing areas development commission, OSOPADEC saying it is below expectation.

Chairman House Committee on OSOPADEC, Mr Abayomi Akinruntan made the observation when he led members of the committee on a familiarization visit to the new board of the commission in Akure.

Mr Akinruntan spoke making OSOPADEC to improvement on its budget performance in order to carry out impactful projects in the mandate areas.

He said the house had received the budget proposal of the commission and would invite the board to shed more light on it at the committee level.

Earlier, the chairman of OSOPADEC, Mr Sam Erejuwa said the commission looked forward to a robust relationship with the lawmakers with an assurance that the newly inaugurated board would deliver on its mandate to improve the lives of people of the riverine areas.

Augustina Okinedo

Politics

Ogun Assembly Commences Budget Performance Assessment for MDAs

By Web News 605

Ogun State House of Assembly will commence this year’s budget performance assessment for the First Quarter on the various Ministries, Departments and Agencies of Government as well as Local Government Councils. 

A statement signed by the Clerk of the House, Mr Deji Adeyemo, notes that the annual exercise remains part of the oversight functions of the Legislative Arm of Government in entrenching good governance in line with Sections 128 and 129 of the 1999 Constitution of the Federal Republic of Nigeria, as Amended.

Mr Adeyemo said the essence of the exercise was part of the effort at ensuring transparency and value for money in the running of government business.

The statement adds that the exercise, which is meant to assess and ascertain the level of compliance by the MDAs with the 2022 Appropriation Law; as well as ensure effective and efficient service delivery to the people, will begin from 10 in the morning daily and end on Friday, 29 April 2022.

The statement, therefore, enjoins all Ministries, Departments and Agencies of Government as well as Local Government Councils to make available all relevant documents and information to the lawmakers for the success of the exercise.

Oluwatoyin Adegoke

News

Oyetola Signs 129.7 Billion Naira 2022 Budget

By Web News 716

Osun state Governor, Alhaji Adegboyega  Oyetola has signed the 2022 budget of 129.7 billion nairas.

Speaking at the ceremony, governor OYETOLA commended the legislature for diligent work on the budget and noted that with 83 per cent performance of 2021 budget as at the 3rd quarter, the 2022 budget would witness Improved performance.

Governor Oyetola who said the 2022 budget was developed with a passion for human development and citizens’ welfare  solicited more support from critical stakeholders for Improved budget Performance

In his remark, the speaker Mr Timothy Owoeye noted that the early presentation of the appropriation bill to the state Assembly by the governor gave room for thorough screening of 2022 budget proposals by government ministries, agencies and departments.

Mr Owoeye who solicited prompt funding of Osun internal revenue service,OIRS, stressed the need for revenue-generating agencies and departments to double their efforts.

Earlier in a remark, the state commissioner for budget and planning, Professor Yinusa Olalekan noted that the budget had input from citizens across the senatorial districts in the state.

The 2022 budget christened “Budget of sustainable development” is 17 billion nairas higher than the 2021 budget.

It has over 53 billion nairas as recurrent expenditure while capital expenditure takes over 75 billion nairas.

Abiodun Adeoye

Judiciary

Osun Assembly Puts Civil Service Commission Budget on Hold

By Web News 672

The Osun State House of Assembly has put the budget of Civil Service Commission on hold.

The Chairman, House Committee on Finance and Appropriation, Mr. Adebayo Olodo stated this during the budget defence by Ministries and Agencies of government in the state.

Mr. Olodo said the Budget of the Commission was put on hold as the commission did not appear before the House Committee for pre-budget meeting where grey areas in each Ministries and Agencies budget are first discussed.

He therefore, directed the Commission and other ministries and Agencies to ensure to attend the pre-budget meeting with the committee for necessary discussion before appearing for  budget defence.

Mr. Olodo also commended the Ministry of Local Government and Chieftaincy Affairs for ensuring peaceful resolution of all Chieftaincy tussle in the state.

He urged the Ministry not to relent in ensuring peace in all the local governments of the state.

Funmi Adekoya

Politics

Oyo 2022 Budget Presentation Postponed Till Wednesday

By Web News 618

The presentation of the Oyo State’s 2022 budget to the State House of Assembly, which was earlier scheduled to hold today, has been postponed to tomorrow, Wednesday, NewsBreakNG has learnt.

The event will hold at the House Chamber, Parliament Buildings, Secretariat, Ibadan at 8:00 a.m.

Initially, a notice was sent to members of Oyo State House of Assembly on the need to attend the Budget presentation session billed to hold today.

Similarly, the Governor has been leading a meeting of the State’s Treasury Board, preparatory to wrapping up the final figures of the budget by the Executive arm of government since the beginning of the week.

This medium, however, gathered that some members of the Treasury Committee attending the meeting include Ministry of Finance, Budget and Planning, Attorney-General and Commissioner for Justice, Accountant General, Auditor General, Special Adviser Economic Matters and Special Assistant Economic Matters as well as Permanent Secretaries in the Ministry of Finance and Budget and Planning.

All the economic stakeholders and government functionaries are expected to be at the event postponed to tomorrow.

NaijaNews

Politics

Delta Govt. to Pass 2022 Fiscal Budget in September

By Web News 518

The Delta State Government says budgetary provisions for the 2022 fiscal year would be presented to the State House of Assemble for consent by the last week of September.

The State Commissioner for Economic Planning Dr. Barry Pere Gbe, made this known in Asaba, the state capital during the Budget Presentation by Ministries Departments and Agencies in the state.

Dr. Pere Gbe noted that the 2022 budget would be focused on already established projects, in addition to priority schemes to be determined by the state government.

He added that budget would be performance based, saying figures would be determined for the MDA’s according to specific limits given by the budget ministry.

The Commissioner also observed that the citizenry has been engaged in the budgetary processes, while the government had organized interactive sessions with members of civil society organizations in the state to explain the administration’s plans for the 2022 fiscal year.

Meanwhile, State Commissioner for Health Dr. Mordi Ononye, in his budget presentation, indicated the ministry in the coming year would focus on the upgrade of health care facilities and empowering health institutions, unlike the recent emphasis on COVID-19 related problems.

The Commissioner for Basic Education Mr. Chika Ossai, also led his team to participate at the budget presentation, alongside heads of departments and agencies under the ministry.

Oghenero Eghweree

Politics

Ondo Assembly Passes over N174 Billion Budget for 2021

By Web News 529

The Ondo State House of Assembly has passed the sum of one hundred and seventy-four billion, eight hindered and seventy-three million, three hundred and five thousand, five hundred and twenty-five naira, thirty kobo for the 2021 fiscal year.

Presenting the House Committee on Finance and Appropriation report to the lawmakers, the Chairman, Mr Sunday Olajide recommended that all MDAs with high expectation on revenue generation should be given the required support and impetus to achieve their targets.

Mr Olajide observed that some MDAs did not liaise with relevant agency to access correct information about their budget performance before coming up for their budget defense which he said was discouraging.

Speaking on the budget, the Speaker, Mr Bamidele Oleyelogun commended the committee for a job well done and prayed that no calamity befall the nation towards implementation of the 2021 budget.

The lawmakers also used the medium to welcome the four lawmakers who were suspended but were reinstated by court order.

The Speaker also used the medium to attach them to some house standing committees.

The Majority Leader, Mr Oluwole Ogunmolasuyi appealed to the lawmakers to bury their hatchets and work for the progress of the state and in the best interest of their constituents.

Olumide Abudu

Economy

President Buhari to Present 2021 Budget on Thursday

By Web News 641

President Muhammadu Buhari will present the 2021 Appropriation Bill to the joint session of the National Assembly on Thursday this week.

This was contained in a letter from the Executive read by the Senate President, Ahmad Lawan during plenary in Abuja.

The letter reads: “May I crave the kind indulgence of the Distinguished Senate to grant me the slot of 11:00hrs on Thursday, 8th October, 2020, to formally present the 2021 Appropriation bill to the Joint Session of the National Assembly.

“While I look forward to addressing the Joint session, please, accept Mr. Senate President, the assurances of my highest regard.”

FRCN, Abuja