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Tinubu’s first proposed annual budget as president is ₦26 trillion for 2024

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Tinubu's first proposed annual budget as president is ₦26 trillion for 2024

The Federal Government has proposed the sum of ₦26.01 trillion for the 2024 appropriation based on oil price benchmark of $73.96 and 21% interest rate.

 

Minister of Budget and Economic Planning, Atiku Bagudu, disclosed this to State House Correspondents at the end of the Federal Executive Council (FEC) meeting on Monday in Abuja.

 

He said that the budget would be presented to the National Assembly before the end of the year since President Bola Tinubu was already engaging with the legislative arm towards getting their buy-in.

 

He said that the budget was expected to consolidate on the various economic reforms initiated by the present administration aimed at improving the standard of living of Nigerians and attracting investors.

 

Bagudu said assumption of the budget was based on the various diplomatic engagements by the president and other government functionaries that were expected to improve inflow and boost exchange rate.

 

Dave Umahi, Minister of Works, also disclosed FEC approved the use of concrete for road projects across the country including those of new ones, depending on the level of completion.

 

He said, “FEC was also informed on the on-going projects and to mitigate so much inflation and variation of the projects, to have some of the projects that have attended completion to be redesigned on concrete and going forward for new projects to be done on concrete.

 

“FEC approved that concept that most of the on-going projects should be designed on concrete pavements depending on the level of completion and if you’re doing Asphalt there are also conditions for that.

 

“FEC also approved the coastal road running from Phase 1 which runs from Lagos to Port Harcourt to Calabar. Phase 2 runs from S4 tearing off from this stretch to Sokoto and to Ogoja. It was approved to be done on Engineering, Procurement and Construction plus Financing.

 

“Eight roads that were started in the past administration for concessioning that have gone through all the processes were also approved and that the financial closure should be reached November.”

 

Umahi also said a 24-hour approval would be given to any state interested in taking over road projects in their domain, while particular conditions must be met for the agreement to take effect.

 

He said that the project by the states must conform to the standard of the Federal Ministry of Works as well as meet the tolling system through which they would recoup their investment.

 

The minister also disclosed that FEC approved the NNPC and FIRS road projects, which they oversee and fund across the country.

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Nigerian Navy arrests Motor Tanker VINNALARIS 1 Lagos for crude oil theft

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The Nigerian Navy Forward Operating Base, IGBOKODA in Ondo State, has arrested 77-meter-long Motor Tanker (MT) VINNALARIS 1 LAGOS in the early hours of Thursday 7 December 2023 at about 3.00am.

 

A Statement by the Nigerian Navy spokeperson Commodore Ayo Vaughn said the vessel had 17 crew members onboard at the time of arrest and was caught engaging in illegal siphoning of crude oil from one of the well heads at EBESAN oil field about 7 nautical miles off the coast of Awoye riverine community in Ilaje Local Government Area of Ondo State.

 

He said the apprehension of the vessel was based on credible intelligence received by the Base on the illegal activities of crude oil thieves at the location which informed the swift deployment of FOB IGBOKODA personnel to enforce the arrest of the vessel and her crew.

 

The vessel, MT VINNALARIS 1 LAGOS, has a storage capacity of about 15,000 metric tonnes and as at the time of arrest had loaded about 500 Metric tonnes of crude oil.

 

The statement further added, “it is believed that Tantita Security Service TSS is involved in the illegalities because Awoye riverine area which is close to the place of arrest is covered by TSS.” Vaughan noted that it was upon the arrest of the vessel by the Nigerian Navy that TSS began to raise false alarm, which the Navy described as totally unfounded and mischievous.

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NJC RECOMENDS ELEVEN SUPREME COURT JUSTICES, ONE COURT OF APPEAL JUSTICE, HEADS OF COURT 

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The National Judicial Commision has recommended the appointment of 11 Supreme Court Justices, one Justice of Court of Appeal, 6 Heads of Courts and 26 other Judicial Officers.

 

This was the consencus at the Councils 104 Meeting after considering the list of candidates presented by its Interview Committee

 

 

According to a statement signed by the Director Of Information, Soji Oye, the council after much deliberations, recommended Justice Hannatu Sankey, Justice Chidiebere Uwa, Justice Chioma Nwosu-Iheme, Justice Haruna Tsammani and

Justice Aseimo Adumein as Supreme court Justices.

 

Others are Justice Obande Ogbuinya, Justice Stephen Adah, Justice Habeeb Abiru, Justice Jamilu Tukur, Justice Abubakar Umar, and Justice Mohammed Idris.

 

The NJC also recommended Justice Mohammed Ramat as a Justice of the Court of Appeal.

 

Some heads of court nominated are Justice Joel Agya, as the Chief Judge Taraba State,

Justice Umar Abubakar, Chief Judge of Taraba State amongst others.

 

The Council has said that all recommended candidates to the Supreme Court Bench would be sworn-in after the approval of their recommendation by President Bola Tinubu and the subsequent confirmation of their appointment by the Senate.

 

NJC has also noted that the various Heads of Court recommended would also be sworn-in upon the approval of their appointment by their various State Governors and subsequent confirmation of same by their respective State Houses of Assembly.

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EFCC denies comments on 70 percent Nigerian Youths involvement in internet fraud

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EFCC denies comments on 70 percent Nigerian Youths involvement in internet fraud

The Economic and Financial Crimes Commission, EFCC has denied comments by it’s Executive Chairman, Ola Olukoyede which labelled seventy percent of Nigerian Students as internet fraudsters.

 

 

 

While stating this in a Statement by the Head, Media and Publicity Dele Oyewale, the Commission says it is a misrepresentation of the concerns of the Chairman of the EFCC to the rising incidences of internet- related crimes involving Youths across the Country.

 

 

 

It explains that its Chairman had called for wider media enlightenment of youths as a counter- measure against the menace of internet fraud at a meeting with Representatives of the Civil Society Organizations, CSOs that paid him a visit in Abuja.

 

 

 

Olukoyede says that reports and intelligence available to him indicated that, unless the trajectory of youth involvement in internet fraud is addressed and reversed, the future of their leadership of Nigeria may be threatened and if it continues in the next ten years, seven out ten of the youths may be getting involved in cybercrimes.

 

 

The EFCC says that at no time did its Chairman mentioned that “seven out of ten” Nigerian students are criminals” as widely reported.

 

 

 

The Commission assures the public that its Chairman is doubly committed to the progress of Nigerian Youths and underscores his calls for collaborative interventions in offering them more productive and sustainable alternatives.

 

 

The Statement added that the concerns of the EFCC Chairman bothers on breaking the jinx of mass indulgence of youths in cybercrimes.

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