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Oyo targets N107bn IGR to finance 2017 budget

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The Oyo State Government said the 2017 budget proposal of more than N207bn which was presented to the state House of Assembly was designed not to rely on statutory allocation from the Federation Account.

 While giving the budget analysis, the state Commissioner for Finance, Abimbola Adekanmbi, said the government planned to raise its Internally Generated Revenue to N107.2bn in 2017, adding that such move would liberate the state from hinging its budget on fund from federal allocation.

According to the budget presented by Governor Abiola Ajimobi to the house, N59bn which represents 28.41 per cent of the budget is expected from the federal account. Presently, the state makes N1.5bn from IGR monthly, which amounts to N18bn annually. But Adekanmi said the amount would multiply in multiple folds after the state government realised areas where revenues were being lost over the years.

He said there was no plan to raise tax or impose arbitrary levy on the citizens of the state. He also explained that after holding meetings with the informal sector like traders and transporters in the state, players in the sector had agreed to contribute to the state revenue and ease it of financial difficulties it went through in the past two years.

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He said because there were millions of players in this sector, huge revenue would be realised to finance the budget and rely less on statutory allocation.

Adekanmbi said, “The state government is determined to block financial leakages and review its revenue drive. Lots of revenue can be generated from IGR if properly designed and pursued but we also need the cooperation of the people, which we are sure of getting. The informal sector has suddenly realised that it can help finance the budget and drive the state economy with little contribution from the members. This will amount to huge fund because the sector has large population, more than the formal sector.

“The projection of government is to realise N40bn from the Ministry of Lands, Housing and Urban Development while the Health Insurance Scheme will generate more than N8bn. These are just two of the top 20 revenue generating ministries, departments and agencies of government.”

The commissioner said each market in the state was expected to pay agreed amount to the state coffers monthly, adding from the amount paid, necessary amenities would be provided in the markets.

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Politics

Insider Claims: Ex-minister Shittu reveals manipulations, fraudulent approvals under Buhari

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Former Minister of Communication, Adebayo Shittu, has made startling claims regarding alleged manipulations and fraudulent activities during the previous administration of ex-President Muhammadu Buhari.

Despite serving as a minister under Buhari’s government, Shittu has voiced concerns over what he perceives as individuals close to the former Nigerian president exploiting their positions for personal gain, resulting in adverse effects on the country’s economy.

In an interview on Tuesday’s edition of Channels Television’s Sunrise Daily, monitored by Mega Icon Magazine, the ex-minister asserted, “Let me tell you, there were a lot of manipulations and we even heard that a lot of the so-called approvals did not emanate from President Buhari.”

He addressed allegations circulating about the previous government resorting to printing money to sustain the economy, stating, “There were a lot of manipulations and fraudulent approvals which did not emanate from the President.”

Shittu remained resolute in his claims, emphasising, “I am telling you confidently that a lot of it did not get his attention.”

He further alleged, “There were a lot of people around the President who exploited their relationship with the President and conspired with the then-CBN governor.”

 

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Putin sworn in for unprecedented fifth presidential term

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In this pool photograph distributed by Russian state agency Sputnik, Russian president-elect Vladimir Putin takes the oath of office during a ceremony at the Kremlin in Moscow on May 7, 2024. (Photo by Alexander KAZAKOV / POOL / AFP)

Russian President Vladimir Putin was Tuesday sworn into office at a lavish Kremlin ceremony for a record-breaking fifth term with more power than ever before.

The 71-year-old has ruled Russia since the turn of the century, securing a fresh six-year mandate in March after winning presidential elections devoid of all opposition.

In his inauguration speech, Putin said that Russia would emerge from the current “difficult” period victorious and stronger, as he took power for a record fifth presidential term.

“We will pass through this difficult, decisive period with dignity and become even stronger,” Putin said at his inauguration ceremony at the Kremlin, attended by an AFP journalist.

“We are a united and great nation,” Putin said in an upbeat speech, to applause from an audience of around 2,500 people including officials and military top brass.

“Together we will overcome all obstacles, achieve everything we have planned, and together we will win,” he said.

He said after being sworn into office that he viewed the presidency as a “huge honour, responsibility and sacred duty”.

The Russian leader vowed to ensure “sustained and stable development, unity and independence of the country”.

Putin thanked soldiers taking part in what Russia calls a “special military operation” in Ukraine, more than two years after it began on February 24, 2022, at a ceremony attended by some of those fighting.

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“We are looking forward confidently,” Putin stressed in his speech, which was aired on national television.

Evoking the country’s “thousand-year history” as he spoke in the Kremlin’s gilded St Andrew’s Hall, the president said that present-day Russians owed a debt to previous generations who achieved “such triumphs that inspire us today”.

He said Russians shared a “firm conviction that we ourselves alone will determine the fate of Russia for the sake of present and future generations”.

Russia is “not refusing dialogue with western states” and is ready to talk about “questions of security and strategic stability”, Putin said, “but only on equal terms, respecting the interests of each other”.

 

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PDP chieftain, Aminu congratulates elected Oyo LG chairmen, councilors

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Hon. Lukmon Aminu, a chieftain of the Peoples Democratic Party (PDP) in  Ibadan North East/South East Federal Constituency of Oyo state,  has extended his congratulations to the newly elected chairmen, vice chairmen, and councilors across the 33 local government councils.

The official announcement of the election results by the Oyo State Independent Electoral Commission (OYSIEC) on April 27th marked a significant victory for the PDP, prompting Aminu to commend Governor Seyi Makinde and the party’s governing council for their success at the polls.

Aminu’s statement, released on Thursday, not only lauded the electoral victory but also praised the active participation of party members and the peaceful conduct of voters throughout the entire process.

He stressed the importance of the newly elected officials recognising their roles as a call to service, particularly in this critical time.

In his message to the newly appointed chairmen, Aminu urged them to uphold fairness and justice, transcending political affiliations, and to remain focused on fulfilling their commitments to the electorate.

He emphasised that true development begins at the grassroots level,  urging them to prioritise the needs of their communities.

Expressing gratitude to the electorate for their overwhelming support of the PDP and its candidates, Aminu underscored the significance of citizen participation in the democratic process.

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