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Tinubu targets 3.76% economic growth in 2024

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President Bola Tinubu has submitted the 2024 national budget amounting to N27.5 trillion to the National Assembly. Named the ‘Budget of Renewed Hope,’ the fiscal proposal was presented during a joint session in Abuja. President Tinubu emphasized plans to overhaul Nigeria’s internal security architecture to bolster law enforcement capabilities, ensuring the protection of lives, property, and investments nationwide.

To enhance budget efficiency, the government will prioritize value for money, increased transparency, and accountability, with a closer collaboration with development partners and the private sector. President Tinubu underscored the crucial role of a stable macro-economic environment in catalyzing private investment and accelerating economic growth. The administration aims for a minimum economic growth of 3.76%, surpassing the projected global average, with an expected inflation rate of 21.4% in 2024. The budget emphasizes Nigeria’s commitment to a greener future.

After careful review of global oil market trends, the budget adopts a conservative oil price benchmark of $77.96 per barrel, a daily oil production estimate of 1.78 million barrels, and an exchange rate of N750 per U.S. Dollar for 2024. The 2024 Appropriation Bill breaks down the aggregate expenditure of N27.5 trillion for the Federal Government, including non-debt recurrent expenditure of N9.92 trillion, debt service projected at N8.25 trillion, and capital expenditure at N8.7 trillion. The government remains committed to meeting its debt obligations, with projected debt service accounting for 45% of the expected total revenue.

The budget deficit is projected at N9.18 trillion or 3.88% of GDP, lower than the 2023 deficit. Financing will involve new borrowings totaling N7.83 trillion, N298.49 billion from privatisation proceeds, and N1.05 trillion drawn down on multilateral and bilateral loans secured for specific development projects.

Senate President Godswill Akpabio, in his address, assured President Tinubu of the National Assembly’s commitment to streamlining some government agencies for efficiency and cost-effectiveness. He urged the President to ensure the availability of heads of Ministries, Departments, and Agencies of Government for their 2024 budget defense sessions before the National Assembly.

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Why I may not hesitate to support Peter Obi in 2027 – Atiku Abubakar

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The presidential candidate of the Peoples Democratic Party (PDP) in the 2023 election, Atiku Abubakar, has suggested he might support Peter Obi, his Labour Party counterpart from the last election, in 2027.

The former Vice President, currently in merger talks with stakeholders from various opposition political parties, indicated he would back Obi if the Labour Party nominates him for the next election.

According to The Sun, Atiku made this statement during an interview with BBC Hausa Service.

It was recently reported by DAILY POST that Obi and Atiku had a closed-door meeting, sparking rumors about a potential merger of opposition parties ahead of the 2027 general elections.

Atiku confirmed the efforts of opposition parties to align in order to challenge the ruling All Progressives Congress (APC) in the 2027 election, saying, “We can merge to achieve a common goal. So, it’s possible and nothing can stop it if we so wish to achieve that.”

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Atiku added that if the new party decides it’s the turn of the South-East and chooses Peter Obi, he would not hesitate to support him.

“I have said repeatedly, and even before the 2023 general elections, that if the PDP decides to zone the presidential ticket to the South or South-East specifically, I won’t contest it.

“But I contested the 2023 presidential ticket because it was open to all members of the party,” Atiku explained.

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I once struggled with pornography – Bishop Oyedepo’s son, Isaac

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Isaac Oyedepo, son of Bishop David Oyedepo, founder of Living Faith Church, has admitted to having struggled with pornography at one point in his life.

Isaac revealed that he became involved with pornography during a trip to a European country.

Speaking on the podcast “Confession Box,” Isaac shared that he overcame this challenge with God’s help.

He explained: “My confessions are positive and meant to help others. I struggled with pornography before.

“I remember how it began; we traveled to a country, and I was alone in my room. I turned on the TV, and that’s how it started.

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“But God helped me overcome it quickly. Many people still struggle with it, and I think if someone who had previously struggled with it had approached me and showed me how to break free, I would have overcome it sooner.

“Some topics are often avoided, but today, many pastors and church members still struggle with this issue.

“You might be anointed and performing signs and wonders, but that doesn’t mean you are living right.

“There’s an old saying that if it works, it means you’re standing right, but I found out that’s not always true. There were times I realized I wasn’t right, but grace and mercy found me.

“For the sake of someone genuine in the congregation, God can bypass you to reach that person; this is my confession.”

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Alleged Corruption: Rights lawyer petitions Minister, seeks suspension of NSCDC CG, Audi

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Former Special Prosecutor for the Special Presidential Investigation Panel for Recovery of Public Properties, Tosin Ojaomo, has petitioned the Minister of Interior, Olubunmi Tunji-Ojo, regarding an ongoing investigation by the Economic and Financial Crimes Commission (EFCC) into corruption allegations against Ahmed Audi, the Commandant General of the Nigeria Security and Civil Defence Corps (NSCDC).

Ojaomo recommended Audi’s immediate suspension to ensure public safety and protect the integrity of the investigation from possible interference.

The petition, dated May 15 and made available to DAILY POST, was addressed to Tunji-Ojo and copied to President Bola Tinubu, Attorney General Lateef Fagbemi, and EFCC Chairman Olanipekun Olukoyede.

Ojaomo highlighted that the EFCC has been investigating the NSCDC for alleged financial mismanagement, making significant progress. He also mentioned a pending allegation against Audi regarding unexplained property acquisition filed with the Code of Conduct Bureau (CBB).

Ojaomo’s request is based on Section 8 of the Nigeria Security and Civil Defence Corps Act, 2003 (as amended), and Section 11 of the Interpretation Act, 2004, which allow the minister to recommend the appointment and removal of the NSCDC Commandant General.

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The petition stated, “We are compelled to make this request as the investigation of the agency cannot be thoroughly and discreetly conducted if the current Commandant General of the NSCDC is allowed to continue in office while the investigation continues because most of the financial activities of the agency which form the subject matter of the investigation are conducted under the current CG’s watch.”

He further emphasized that the suspension would safeguard the investigation process and prevent possible interference. Ojaomo cited allegations linking Audi to a company, Keltes Security and Consultancy Limited, which allegedly received contracts from Tantita Security Limited, a company under the NSCDC’s supervision.

He concluded, “In view of these facts, it will be in the interest of public safety and to protect the integrity of the office to suspend Dr. Abubakar Audi, the current Commandant General of NSCDC, so that the EFCC can conduct a thorough and discreet investigation into the matter.”

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