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Nigeria Not Broke!
Minister of Finance, Budget and National Planning, Hajia Zainab Ahmed has that the country was not broke.
She said Nigeria was in good economic standing, and not broke when she spoke at the 6th edition of President Muhammadu Buhari’s scorecard, tagged “PMB Scorecard 2015-2023”, organised by the Ministry of Information yesterday in Abuja.
She said that the country had continued to generate revenue on a regular basis, which is distributed to all the tiers of government.
She added that the country had recorded significant growth in non-oil revenue, while improving oil revenue that had dwindled in the last few years.
“We continue to generate revenue on a monthly basis and these revenues are distributed at the Federation Account Allocation Committee (FAAC).
“Again, to continue with the tradition of transparency, we actually disclose how much is distributed on a monthly basis to the various tiers of government.
“We have witnessed a significant increase in non-oil revenue.
“While oil revenue is underperforming because of criminality, recently NNPC has reported that this has been curtailed and we are already beginning to see the pick up in the production volumes which are that more revenues have started to come to the Federation,” she said.
She said in spite of those remarkable improvements, revenue is still not enough to meet expenditure of government, thus necessitating the resort to borrowings.
She, however, said that such borrowings were guided by certain strategies to ensure sustainability.
“Our borrowings have been practical. They are sustainable, they are guarded by debt management strategies.
“There is a debt management board that is chaired by the Vice President, the ministers of Justice, Finance and other ministers as well as the Debt Management Office (DMO).
“The debt management is being followed religiously and our debt is sustainable,” she said.
She added that at 33 per cent debt-to-GDP ratio, Nigeria is still the lowest when placed beside countries with equal comparatives.
According to her, “there are no plans to restructure the debt. We do not have to restructure because we have a debt strategy that could be followed closely.
“We make provision in our budgets for debt servicing. It is taken as a first line charge so we have not defaulted on any loan, external or local.
“So we are comfortable in terms of our ability to pay our debts, so we are not going for any debt relief and we are not going for any debt restructuring,” she said.
Ahmed, however, reiterated that the country is faced with revenue challenges.
“But again, I say we do have a revenue problem despite the increase in revenue because our performance of 8 per cent of GDP shows that the revenue is not enough.
“We are a population of 200 million people, we have a lot of demands on government, both states and federal, to provide service.
“We have to keep working to find out how we can incentivise and enhance the business environment so that small business enterprises can thrive.
“They should be the largest employer of labour and should be the largest contributors to the GDP,” she said.
According to her, it is for those reasons we have reduced income taxes for the smallest businesses.
“We also reduced taxes for medium businesses from 30 per cent to 22 per cent, to revenues in their businesses to stabilise their businesses, especially during COVID,” she said.
On capital budget releases for 2022, the minister said that the government had so far released N1.7 trillion in a capital budget of N2.7 trillion. (NAN)
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Corruption: Uphold Justice, Ensure Culprits ‘re Prosecuted, Speaker Abbas Urges Judges
…mulls bill to promote competence in recruitment of Judges
To effectively rid Nigeria of financial crimes and general corruption, the Speaker of the House of Representatives, Rt. Hon. Tajudeen Abbas, PhD has urged Judges and heads of courts to ensure that perpetrators are prosecuted.
Speaker Abbas made the call while delivering his goodwill message through his Deputy, Rt. Hon. Benjamin Okezie Kalu at the 6th Economic and Financial Crimes Commission (EFCC) and National Judicial Institute (NJI) Capacity Building Workshop For Justices and Judges themed “Integrating Stakeholders in Curbing Economic and Financial Crimes” on Monday in Abuja.
He acknowledged that corruption remained a major problem in the society, despite the commendable efforts of anti-corruption agencies, stressing that corruption is a disease that cripples the society and hinders development.
Underscoring the need for the enhancement of skills of judges for effective service delivery, Speaker Abbas however said that they must live above board.
He said: “Stakeholders, we must recognize our shared responsibility in the anti-graft war. The fight against corruption requires not only robust legislation but also a judiciary that is well-equipped with the knowledge and skills necessary to navigate the complexities of such cases. As justices and judges, you hold an indispensable role in combating this scourge. Your decisions set precedents that can either reinforce or dismantle corrupt systems. You are tasked with upholding justice and ensuring that those who engage in corrupt activities are held accountable under the law.
“This workshop serves as an opportunity for you to enhance your skills and knowledge so that you may better serve your communities. Capacity building is at the heart of this initiative. It is imperative that we equip ourselves with the latest tools and knowledge to effectively adjudicate cases involving financial malfeasance. This includes understanding emerging trends in financial crime, utilizing technology for investigations, and ensuring that our legal frameworks are responsive to new challenges.
“Competence must be at the forefront of our judicial endeavours. It encompasses not only legal knowledge but also an understanding of the socio-economic contexts within which we operate. As judges and justices, your ability to interpret laws effectively while considering their implications on society is crucial. Continuous education and capacity building are essential components in enhancing your competencies. Workshops like this one serve as platforms for sharing knowledge, best practices, and innovative approaches to justice delivery.
“Integrity is perhaps the most critical value we must uphold as members of the judiciary. It embodies honesty, transparency, and accountability—qualities that are indispensable in fostering public confidence in our legal system. When citizens perceive judges as incorruptible stewards of justice, they are more likely to engage with legal processes positively”.
The Speaker who highlighted the importance of having a well remunerated judiciary also revealed that a bill was in the offing to ensure that only well qualified personnel are appointed to the bench.
“It is heart-warming to note that part of these initiatives includes improving the welfare of judges and justices. We recognize that a well-compensated judiciary is crucial for attracting and retaining qualified individuals who are committed to serving with integrity. This explains why we swiftly passed legislation to increase your remuneration by 300%. This significant adjustment reflects our commitment to ensuring that those who serve on the bench are adequately rewarded for their dedication and hard work.
“Moreover, we are equally exploring avenues to establish a more rigorous and transparent process for the selection and appointment of judges. The integrity of our judicial system hinges on having qualified individuals who possess not only legal expertise but also an unwavering commitment to justice. To this end, we are drafting legislation that will outline clear, detailed criteria and procedures designed to ensure that only the most qualified and competent individuals ascend to the bench”, Speaker Abbas said.
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Eseme Eyiboh’s Mum, Deaconess Grace for Burial Nov 9
The remains of Deaconess Grace Sunday Eyiboh, mother of the Special Adviser on Media and Publicity and Spokesman to the Senate President, Hon. Eseme Eyiboh will be interred on November 9, 2024.
A statement from his eldest son, Hon. Eseme Eyiboh said Mama’s burial shall be conducted by Qua Iboe Church at Community Secondary School, Akpautong village in Esit Eket LGA, Akwa Ibom State on the 9th November 2024 at 10am.
Born on July 7, 1934, Deaconess Grace Eyiboh fondly called Mmaette was a trailblazing entrepreneur, educator, church and community leader, who passed on three days to her 90th birthday on July 4, 2024.
An indigene of Akpautong village in Esit Eket LGA of Akwa Ibom state, Deaconess Grace Eyiboh began her educational journey at Qua Iboe Church School, Akpautong. After completing her Standard Six education, she married Late Elder Sunday Eyiboh, a well known carpenter and teacher.
Deaconess Eyiboh’s growth in faith drove her determination and entrepreneurial instinct which led her to attend the Singer Sewing Institute, Uyo, where she honed her sewing skills. Upon graduation, she established her own Sewing and Apprenticeship Training Centre at Uquo, Esit Eket, empowering numerous youths and women with vocational skills.
Mmaette’s selfless service and integrity earned her an appointment to the Eket Juvenile and Assizes Court; Esit Customary Court where she served two terms without blemish. Her contributions to community development were recognised through various leadership roles.
She is survived by two sons and two daughters, several grand and great grandchildren including the Rt Hon. Eseme Eyiboh, erstwhile member and Spokesperson of the House of Representatives and currently, Special Adviser, Media and Publicity and Official Spokesperson to the President of the Senate.
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Ex-First Lady, Dame Patience Jonathan, Visits Pauline Tallen Over Son’s Death
Nigeria former first lady,Dame Patience Jonathan, PhD, has commiserated with the family of Ex -Women Affairs Minister, Pauline Tallen, over the death of her only son,Richard Adamu Tallen
Dr Jonathan who personally paid a condolence visit to the Tallen’s at their Abuja home, Monday 7 October,2024, expressed grief over the sad loss and prayed for the repose of his soul
She described the late young Tallen as an upward growing mobile young man who would have been needed most at this critical time.
She urged the family to have faith and understanding that it is the Lord that gives and takes
” You cannot question the Lord, because He gives and takes”
The former first lady appealed to the family, especially, the mother who is an ex- minister, the deceased wife, and three kids he left behind, to take heart and be consoled. She noted that no matter how painful Richard’s death may be to the family, there is hope in that the children will grow up and stand in the place of their late father.
Dame Patience who was received by a large number of mourners at the residence, majority who were hailing her, ”mama peace, mama peace, we miss you”, hugged and embraced them in show of solidarity notwitstanding the mourning mood and atmosphere at the Tallen’s residence
Top dignitaries who also visted to comiserate with family, include , former Vice President, Yemi Osibanjo, former Imo Governor,Owelle Rochas Okorocha, among others.
Richard passed on, on Sunday, October 6, 2024, at a private hospital in Abuja
He was a graduate of Computer Science from a United States university. He was aged 42 and is survived by a wife and three children.
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