Tag Archives: budget

Governor Ikpeazu signs 2021 Appropriation Bill

Abia State Governor, Dr Okezie Ikpeazu, has signed the 2021 Appropriation Bill into law.

The Bill which was passed by Abia State House of Assembjy earlier today was presented to the Governor by the Clerk of the House, Sir John Pedro Irokansi in his Aba Lodge where he endorsed the N131,852,752,000.00 (One Hundred and Thirty One Billion, Eight Hundred and Fifty Two Million, Seven Hundred and Fifty Two Thousand Naira Only) Budget made up of N69bn for capital expenditure and N62.8bn for recurrent expenditure.

Governor Ikpeazu presented the christened Budget of Local Contents and Sustainable Development to the state House of Assembly on the 7th of December, 2020.

The budget, which is 21.12 per cent higher than last year’s appropriation, comprised N62.6bn recurrent expenditure and N69bn capital expenditure.

Ikpeazu explained that the budget was inspired by the quest to reinvent the Abia spirit of industry and ingenuity and stimulate industrialisation through the establishment of Cottage Industries in the 17 council areas of the state.

It would also help to rejig agencies of government to ensure they become more productive, coordinate effective delivery of services to Abia people, and interpret the vision of delivering multi-sectoral growth across the state.

Governor Wike Presents N448.6 Billion 2021 Budget

Rivers State Governor, Nyesom Ezenwo Wike, has presented a N448,660,773,476 billion Budget, for 2021 fiscal year to the state’s House of Assembly for consideration and approval.

The proposed 2021 budget christened, “Budget of Recovery and Consolidation”, is made up of N305, 894, 284.061 for Capital Expenditure, while N142,776,489,415 is earmarked as Recurrent Expenditure.

Governor Wike, while presenting the Budget to lawmakers at the State House of Assembly in Port Harcourt on Wednesday said the N448,660,773,476 budget for 2021 fiscal year represents more than 20% increase over the 2020 Revised Budget of N300billion.

He said the capital expenditure, representing 68.18% of the total budget size, constituted as follows: Administrative sector N 87, 790,330,011.37; Economic sector N 105,077,364,248,.81; Law and Justice N1,742,996,000.00; Social sector – N 132, 656,033,322.35 and Deductions/Loan repayments N38,000,000,000.00.

The governor explained that the capital budget will be deployed to advance economic growth and social progress by targeting and prioritizing investments.

He said the sum of N82,957,295,248.81 has been provided for the provision of infrastructure, including roads, bridges, and completion of flyover projects at Okoro-Nu-Odo, Rumuola, Rumuogba, and Port Harcourt GRA junction.

“We will also deliver the Ogoni – Andoni – Opobo unity road, the Eastern bypass dualization, 6th and 7th flyover projects and the Wakama road as well as all other ongoing rural roads in our communities and local government areas across the State.”

The governor stated that over N6 billion Naira has been provided in the 2021 budget to stimulate economic growth through investments in commerce, culture and tourism, mineral resource development as well as address environmental challenges to improve the quality of life of all residents.

Similarly, he said N13,861,407,451.97 has been provided to fund various social and economic investment schemes to support the development of small and medium scale businesses as part of efforts to create jobs and reduce poverty.

The governor noted that economic challenges of the COVD-19 pandemic clearly exposed the State vulnerability to food insecurity. Hence, the sum of N16,107,080,000.00 will be spent on targeted investments in the agriculture value chain in a bid to create employment and enhance collective food security of the state.

In cognizance that quality public education remains the key to breaking cycles of poverty, the governor said his administration has decided to prioritize education in the 2021 budget with the provision of N30,000,000,000,00 to boost infrastructure, enhance access and retention rates and improve educational outcomes in our schools throughout the State.

The governor hinted that the State government has provided N25,111,728,000.00 for health care services for 2021 fiscal year. According to him, government will focus on completing the four zonal referral hospitals at Ahoada, Bori, Degema, Okehi and Omoku, which are all at advanced stages of completion.

Governor Wike, explained that the 2021 budget will also prioritizes security and sustains the existing efforts in combating insecurity and keeping residents safe and secure.

He said the Recurrent Expenditure of N142,776,489,415 represents 31.82 per cent of the 2021 budget. Out of this sum, he said N76,198,906,179 is for personnel costs; N18,863,016,430 is for overheads and N47,704,566,804 will be for grants and transfers to the consolidated revenue charges.

“From inception, this administration has prioritized the payment of salaries and pensions and I wish to assure our workers, including the proposed five thousand new enlistments, that they will receive their salaries as when due in 2021. Ministries, Departments and Agencies are also assured of prompt release of overheads to enable them run effectively and deliver services to the people.”

The governor, explained that Nigeria is currently in its second recession in five years with headline inflation at 14 per cent. However, he said the Federal Government has projected that the country will exit the recession in the first quarter of 2021.

Governor Wike said the policy thrust for the year 2021 budget will be to accelerate economic recovery, drive growth and create opportunities for social progress; enhance human capital development and tackle poverty; build first class infrastructures to accelerate our socio-economic development.

He expressed optimism that the measures in the budget will place the State on a stronger economic footing towards achieving the new Rivers vision for a peaceful, secure, inclusive and prosperous society.

He said the budget will be funded from Statutory Allocation, 13% Oil Mineral Fund, internally generated revenue, value added tax, refunds for federal projects and excess crude oil deductions, domestic and foreign credit as well as grants from our development partners.

Commenting on the performance of the 2020 budget, Governor Wike disclosed that at the end of October 2020, the total net revenue collected by the State was N226,522,031,922.45, representing about 75 percent overall proportional performance.

“While receipts from federal allocations declined internally generated revenue overshot the budget projections by over twenty billion naira (N20,000,000,000.00) despite the pause we placed on the payment of taxes by the informal sector and small businesses.”

The Speaker, Ikuinyi Ibani, lauded Governor Wike’s commitment towards transforming the State’s economy. According to him, generations to come will live to acknowledge his good deeds.

The Speaker further assured Governor Wike that the State lawmakers would diligently consider and pass the budget to facilitate the continued development of the state.

Present at the budget presentation were: Rivers State deputy governor, Mrs Ipalibo Harry Banigo; Secretary to the State government, Dr Tammy Danagogo; the State PDP chairman, Ambassador Desmond Akwor and members of the State executive council.

2021: Ayade presents 277bn budget of ‘Blush and Bliss’

Cross River state governor, Professor Ben Ayade Thursday presented the 2021 appropriation bill to the state House of Assembly.

Tagged Budget of Blush and Bliss, the budget has a total estimate of N277 billion.

Out of the figure, N192, 511, 985, 550 representing 69 percent of the entire budget is earmarked for recurrent expenditure while N85, 196,500, 00 representing 31 percent is for capital expenditure.

The governor explained that the budget was people oriented hence he set aside 69 percent of the total estimate for recurrent expedititure to meet the immediate and physical needs of Cross Riverians in the aftermath of the Covid 19 and Endsar conflagrations.

According to Ayade, because of the cummulative impact of the disaster that characterises 2020, “I decided along with my executive council after due consultation that the budget of this year will focus more on the humanitarian perspective.

“We have decided to shift focus from infrastructure , from big projects and refocus on the people. So this is the people’s budget, a budget that for the first time we are shifting from infrastructure, from major projects, from all the big dreams and projects that can actually create opportunity to focus on the very essence of existence, hunger and poverty”.

The Cross River state governor further stated that “this budget takes care of unemployment, takes care of the issues of security consistent with the provisions of the Constitution in section 14 sub Section 2”.

He said “we have decided to focus so much on Agriculture, youth Employment, Social housing and youth skill development.”

He added that it will create a lot of Opportunities for Cross Riverians.

On security, the governor disclosed that the budget has a provision for establishment of neighborhood security watch which will deal with the issues of neighborhood protection and also create a lot of jobs for graduates and non graduates alike.”

Speaking further, Ayade said: “The extension of NYSC is adequately provided in the budget to ensure our young graduates do not despair upon leaving camp.

“We have also made adequate provisions for agriculture to ensure that all young people who study agriculture upon leaving school move into the agricultural sub Sector by providing for procurement of equipment , clearing of land and supporting our people with funds for agricultural inputs”.

The governor told the House that the 2021 budget also factored in scholarships and bursaries for young Cross Riverians.

“We have decided to reactivate the elders council , the youth forum and to see how we can finance and encourage school programs , we’ve introduced scholarships and bursaries, we have introduced all of these that appeals to young people so they can see that this is their government”, he maintained.

Explaining the christening of the budget, Ayade said: “Blush because it is a thing of shame of where we are coming from, blush because we are going through a situation where our face is red and in pain , it is blush because we are coming away from our big dreams of kinetic crystallization, from our olimpotic agenda and reducing ourselves to a consumptive effort just to reflect the mood of the times”

He consoled with every resident of Cross River who in the course of the recent arson and vandalism in the state suffered any form of loss in one way or the other.

$22.7bn loan: FG must review and include South East projects– Kalu

Following the controversial and ill conceived approval of another loan for the borrowing administration of the projects for which the said loan is being targeted to achieve, in lieu, that South East region was totally excluded.

A chieftain of PDP and Director General of Global Initiative for Good Governance, Chief Emeka Kalu has described the $22.7bn loan of President Mohammadu Buhari and its breakdown as an undermining of the people of South East Nigeria.

Kalu stated that exclusion of South East in the budget is an act capable of further breaching the precarious and uncertain peace of the nation since inception of Buhari’s administration.

In a statement he issued from his Abuja office Kalu took time to outline the insensitivity, sectional ism, and tribalism the loan breakdown reeked of.

His words “Gone are those days when we the patriotic citizens from the South East just keep quiet over well articulated policies aimed at marginalising our region and expect that all will be well, it is a wrong and unsafe assumption by anyone.

“It is clear and incontrovertible reality that President Buhari had intentionally excluded Southeast in the picture since the inception of his administration and we sucked it in and moved on because we know that power is transient, he cannot remain the president of Nigeria forever.

“We have been schemed out of almost every loans collected in the name of Nigeria which we will be part of paying back, but systematically, every possible projects from roads to rail road development to industrialisation beside the already established plot of excluding the Southeast in the entire structure of the nation, has continued to crawl at snail pace waiting for the next electioneering period.

“From abandoned international airport to abandoned road projects to no rail projects and the nightmare called 2nd Niger bridge, all has been set aside because there’s a determined effort to undermine the region in terms of development, forcing the people to rely on self help to tag along.

“But taking another loan on behalf of the entire nation but excluding Southeast again is unacceptable to us and we are putting the world on notice that this is a clear message to the region that they do not belong to Nigeria and such action should be halted to avoid creating tension in already tensed nation like Nigeria. Enough is enough” he said.

Chief Kalu further contended: “If South East and especially Ndigbo still belong to Nigeria and if Buhari is not there to be the president of a particular region of Nigeria, there must be a fair distribution of our collective wealth because the loans in question are already part of our liability.

“We are outrightly rejecting the arrangement and demand it must be reviewed to include Southeast region in the interest of one Nigeria. Forcing the Senators down from pointing these Lacuna out from the bill will not shut the entire Southeast up because it is our future that is being mortgaged when we are not even benefiting from its proceed.

“This is one wrong turn too far for the government of President Mohammadu Buhari that has already succeeded in dividing Nigeria along ethnic and religious lines. This singular action will only worsen the precarious state and I am calling on Buhari and his handlers to do the needful and save what is left of our dying unity” the statement concluded.