Connect with us

News

Enugu Assembly passes N521.5bn 2024 appropriation bill into law

Avatar

Published

on

On Thursday, the Enugu State House of Assembly officially approved the 2024 budget estimate, amounting to N521,561,386,000.

Following the screening of the budget estimate on the House floor, Hon. Anthony Nwankwo, Chairman of the House Committee on Appropriation, presented the flawless report, urging the parliament to accept and pass it into law.

Members of the House lauded Governor Peter Mbah for leading a significant shift in the recurrent and capital expenditure ratio in budgeting. They commended the uncommon emphasis on capital expenditure, totaling N414,334,120,000, representing over 79% of the entire budget. They anticipated that this focus would result in noteworthy infrastructural development in the state.

Consequently, the House unanimously passed the bill into law.

In response to the bill’s passage, Speaker Hon. Uchenna Ugwu emphasized that the House’s role was not concluded, as robust oversight would be undertaken to ensure the law’s full implementation in the interest of the masses. He highlighted the budget’s significance, named the “Budget of Disruptive Economic Growth,” with 79% allocated to capital expenditure and 21% to recurrent expenditure. Ugwu urged the executive to diligently implement the budget, assuring the public of the Assembly’s commitment to serious oversight.

He stated, “It is not going to be business as usual. We are going to ensure that every fund we have appropriated is put to judicious use.” Ugwu also expressed gratitude to Governor Peter Mbah for contributing to the state’s economic well-being.

It is worth noting that Governor Mbah had presented the budget estimate of N521.5bn on December 5, setting a historic record as the highest budget in the state’s history. The House of Assembly had pledged swift consideration to facilitate growth and development in the state.

Click to comment

Leave a Reply

News

BREAKING: Oronsaye Report: Tinubu to scrap many agencies, merge others

Avatar

Published

on

President Bola Tinubu will implement some of the recommendations contained in the Oronsaye Report.

This is majorly, in order to cut the cost of governance.

This is coming 12 years after the Steve Oronsaye Panel submitted its report on restructuring and rationalising Federal government parastatals and agencies and a white paper issued two years after.

According to Bayo Onanuga, the President and the Federal Executive Council on Monday reached a decision to implement the report.

He said: “Many agencies will be scrapped and many others will be merged, to pave the way to a leaner government.”

CREDIT: DAILY POST

Continue Reading

News

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

Avatar

Published

on


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.

Continue Reading

News

BREAKING: Fire guts FCT Minister’s residence

Avatar

Published

on


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.

Continue Reading

Trending