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2024 budget: Umahi seeks more money for infrastructure

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Senator David Umahi, the Minister of Works and former Governor of Ebonyi State, has called for increased funding for his ministry. Specifically, he is proposing a boost in the 2024 budget allocation from N657.22 billion to N1.5 trillion. This request was made during the defense of the 2024 Budget estimate for the Ministry of Works in front of the National Assembly Joint Committees on Appropriation.

Umahi stressed that the additional funds would enable the completion of at least 10 critical roads and bridges in each of the six geo-political zones of the country. In addition, he put forth a request for an Emergency Fund equivalent to about 30% of the Budget Provision. This emergency fund, he explained, would address unforeseen emergencies that commonly occur on the road network, especially during the rainy season.

Furthermore, the minister urged an immediate review of all certified debts to contractors, suggesting the possibility of converting them into Promissory Notes. According to him, this approach would allow the ministry to more effectively utilize any appropriated funds to achieve its set objectives.

In addressing inflation, Umahi highlighted that many contractors are currently off construction sites due to the exhaustion of their contract VoPs (Variations of Prices). He proposed a comprehensive review of all VoPs and augmentations for projects, with any outstanding debts to contractors converted into Promissory Notes. Additionally, he advocated for aligning unit rates with the current realities of the construction industry.

Umahi also called for the encouragement of more eligible companies to participate in the Road Tax Credit Scheme. This initiative involves these companies front-loading their tax liabilities to contribute to solving the present challenges faced by the ministry.

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‘You’re responsible for Nigeria’s economic woes’— Atiku tackles Tinubu

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Atiku Abubakar, the Peoples Democratic Party (PDP) candidate in the 2023 general election, attributed Nigeria’s economic challenges to President Bola Ahmed Tinubu.

In a statement shared on his official social media account on Sunday, the former Vice President of Nigeria urged Tinubu to take cues from Argentina’s President Javier Milei on swiftly restoring investor confidence despite inheriting a troubled economy.

Atiku criticized Tinubu for deflecting blame onto the opposition and his predecessors, calling such actions unnecessary and shortsighted. He emphasized that market dynamics respond to concrete actions, not political rhetoric.

Drawing parallels with President Milei’s leadership in Argentina, Atiku highlighted the need for well-sequenced economic reforms. He commended Milei’s proactive approach in preparing for the post-reform challenges and ensuring the availability of mitigating measures.

Atiku contrasted Tinubu’s administration’s ad hoc and hurried reforms with Milei’s strategic sequencing. He pointed out Argentina’s lean government structure achieved through reducing ministries and privatizing state-owned enterprises, contrasting it with Nigeria’s expanding bureaucracy and excessive spending on official residences.

Atiku likened Tinubu’s administration’s approach to Nero fiddling while Rome burns, accusing him of evading substantive action and blaming the opposition for policy failures, reminiscent of characters in George Orwell’s Animal Farm.

Expressing admiration for Argentina’s reforms, Atiku suggested aligning his “Recover Nigeria Plan” with Milei’s stabilization strategy to alleviate Nigeria’s economic distress. He emphasized the need for transparent policies focused on economic revival and warned against dismissing discontent, particularly among the youth, which could manifest in protests.

The statement referred to the worsening economic conditions in Nigeria, highlighted by soaring inflation rates and high living costs, as reported by the National Bureau of Statistics, with headline inflation reaching 29.90% and food inflation at 35.42% in January 2024.

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BREAKING: Fire guts FCT Minister’s residence

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A fire broke out at the private residence of Dr. Mariya Mahmoud, the Minister of State in the Federal Capital Territory Administration (FCTA), on Sunday afternoon.

Situated at No. 9, Justice Roseline Ukeji Close in the affluent Asokoro district of Abuja, the property was reportedly completely destroyed by the blaze.

Despite prompt emergency response efforts, including the arrival of fire service personnel, nothing could be salvaged from the premises.

Mr. Austin Elemue, the Minister’s Special Adviser on Media, confirmed the incident, indicating that the cause of the fire remained unknown at the time.

Authorities have initiated an investigation to ascertain the cause of the fire.

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PHOTO: Gov Makinde Host Nigeria Police Games

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1: Oyo State Governor, Seyi Makinde (left) and Inspector General of Police, Olukayode Egbetokun, during the opening ceremony of the 14th Biennial Nigeria Police Games, host by Oyo State Government, held at Adamasigba Stadium, Ibadan. PHOTO: Oyo Gov’s Media Unit.

2: From left, Deputy Governor of Oyo State, Barr Bayo Lawal; Governor Seyi Makinde; Inspector General of Police, Olukayode Egbetokun and his wife Elizabeth, during the opening ceremony of the 14th Biennial Nigeria Police Games, host by Oyo State Government, held at Adamasigba Stadium, Ibadan. PHOTO: Oyo Gov’s Media Unit.

3: Oyo State Governor, Seyi Makinde (left) take a salute from the Police Mascots, during the opening ceremony of the 14th Biennial Nigeria Police Games, host by Oyo State Government, held at Adamasigba Stadium, Ibadan. PHOTO: Oyo Gov’s Media Unit.

CREDIT: Oyo Gov Media 

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