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Buhari criticises NASS over delayed passage of budgets, says ‘I Feel Very Disappointed’

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Nigeria’s president, Muhammadu Buhari says he is very disappointed by the manner with which the National Assembly has handled the passage of budgets.

In a statement issued by the Special Adviser to the President on Media & Publicity, Femi Adesina, President Buhari stated this on Friday when he received a delegation of Eminent and Respected citizens of the Niger State led by Lt. Gen. Garba Duba (Rtd) at the Presidential Villa in Abuja.

He said the tardiness in the passage of budgets by the National Assembly, sometimes lasting up to seven months, delays the completion of projects across the country.

He further stated that despite the delays in passing budgets, the government has achieved a lot.

“If the National Assembly takes seven months to pass a budget, then we should be commended for the much that we have achieved and can still achieve.

“I personally feel very disappointed. I spoke with the leaders of the National Assembly on the issue that seven months is a long time to work on a budget”, the President said.

President Buhari, however, assured the delegation that ongoing efforts to improve road and rail networks across the country will be increased as infrastructural development remains paramount for improving the livelihood of Nigerians.

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He told the delegation, which included Governor Abubakar Sani Bello, military and traditional leaders, that his administration will pay more attention to the stretch of 2,150km federal roads in the state.

On security, he said, “We cannot manage our communities and societies without security. A lot of resources are being diverted to provide security instead of going into infrastructural development.”

The President also re-assured the delegation that his administration will stay focused on securing lives and property, fighting corruption and stimulating the economy for more progress.

He said the Minister of Agriculture and the Governor of the Central Bank of Nigeria had been directed to increase monetary supports, through loans, to farmers in the next farming season, and ensure that farmers are not overwhelmed with the traditional demand for collaterals.

“Traditional institutions and families can serve as guarantors because we cannot continue with that colonial style of asking for collaterals that people don’t have,” he said.

President Buhari also commended the Chinese government for accepting to finance 85 per cent of Nigeria’s infrastructural development need.

“I thank you so much for coming. It is a good morale booster for me and the country that a State will bring a strong delegation to show appreciation for our efforts,’’ he said.

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In his remarks, the leader of the delegation, Lt. Gen. Duba, who is a former military governor, commended the President for the significant stride in repositioning roads, rails and airports across the country.

He said Niger State still faced challenges of security along Jebba-Mokwa-Birnin Gwari-Kaduna roads, urging the President to reinforce surveillance on the routes and also direct more attention to the construction of federal roads in the state.

The Etsu Nupe, Alhaji Yahaya Abubakar, who is also the Chairman of the Niger State Council of Traditional Rulers, also commended the President for “providing exemplary leadership for the country”.

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Senate Approves Tinubu’s $500m Loan for Power Sector Boost

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The Nigerian Senate has approved President Bola Tinubu’s $500 million loan request intended to bolster the operations of the Bureau of Public Enterprises (BPE) to enhance the financial and technical performance of electricity distribution companies, ultimately benefiting citizens.

The endorsement, announced on Tuesday, follows a thorough examination of the report presented by Senator Aliyu Wamakko, who heads the Senate Committee on Local and Foreign Debts overseeing the 2022 – 2024 External Borrowing (Rolling) Plan specifically for the Bureau of Public Enterprises (BPE).

During the presentation of the report, Senator Haruna Manu, serving as the Vice Chairman of the Committee, emphasised the importance for the Senate to duly receive and deliberate upon the report of the Committee on Local and Foreign Debts concerning the 2022 – 2024 External Borrowing (Rolling) Plan for the Bureau of Public Enterprises (BPE).

The $500 million loan constitutes a portion of the $7.94 billion loan originally requested by President Bola Tinubu on November 1st, 2023, within the framework of the 2022-2024 external borrowing plan. In addition to the $500 million, President Tinubu also sought approval for a €100 million loan.

However, during a special plenary session on December 30, the Senate greenlit the borrowing of $7.4 billion after careful consideration of the report furnished by the Committee on Local and Foreign Debt.

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Melinda Gates Resigns from Gates Foundation, Set to Receive $12.5 Billion

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In this file photo taken on September 26, 2018, Bill Gates and his ex-wife, Melinda Gates, introduce the goalkeepers event at the Lincoln Center in New York. Ludovic MARIN / AFP

Melinda French Gates announced Monday she was leaving the philanthropy mega foundation she established with her ex-husband, Microsoft co-founder Bill Gates.

The resignation, which becomes effective on June 7, will leave Bill Gates as the sole chair of one of the world’s most influential and powerful non-governmental organizations.

“After careful thought and reflection, I have decided to resign from my role as co-chair of the Bill & Melinda Gates Foundation,” Melinda French Gates wrote in a statement posted on social media.

The statement gave no reason for her departure, but noted that “under the terms of my agreement with Bill, in leaving the foundation, I will have an additional $12.5 billion to commit to my work on behalf of women and families.”

The couple married in 1994 but announced their divorce in 2021.

They had continued to co-chair the foundation which they established in 2001 with the vast wealth acquired through the success of Microsoft.

With a focus on child poverty and preventable diseases, the foundation has been heavily involved in fighting malaria and in providing toilets and sanitation in poorer parts of the world.

The foundation’s website says it has spent $53.8 billion since 2000, and claims the number of children around the world who die before their fifth birthday has halved in this time.

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Bill Gates thanked his ex-wife for her “critical contributions” to the organization.

“As a co-founder and co-chair Melinda has been instrumental in shaping our strategies and initiatives, significantly impacting global health and gender equality,” he said.

“I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work.”

The organization’s chief executive, Mark Suzman, said its name would change to simply the Gates Foundation — it has been known as The Bill & Melinda Gates Foundation.

“I truly admire Melinda, and the critical role she has played in starting the foundation and in setting our values, she has played an essential role in all that we’ve accomplished over the past 24 years,” he said in a video posted to social media.

“I will miss working with her and learning from her. I look forward to seeing her continued impact.”

 

 

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EFCC calls on banks’ compliance officers to uphold confidentiality

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The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has urged Compliance Officers of Banks nationwide to refrain from unauthorised disclosure of EFCC’s investigative activities and requests made to banks’ customers.

Speaking through the Acting Zonal Director of the Ibadan Zonal Command of the EFCC, ACE I Hauwa Garba Ringim, during a stakeholders’ meeting with Compliance Officers of Banks in Oyo State on Tuesday, Olukoyede emphasised the detrimental impact such disclosures have on the investigation of financial crimes and the timely filing of corruption cases in court.

Olukoyede expressed concern over the tacit support fraudsters receive from the Nigerian banking sector, highlighting the challenges it poses to the Commission.

He urged Compliance Officers to promptly respond to EFCC’s correspondence with certified true copies of relevant documents, as this facilitates swift investigation processes.

Also, Olukoyede addressed the illegal trading of naira with Point-of-sale (POS) operators, stressing the need to curtail such practices for the benefit of Nigerians.

In response to the chairman’s directives, Compliance Officers assured the EFCC of their unwavering support and commitment to enhancing collaboration between the Commission and banks for more effective anti-corruption efforts.

 

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