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The Federal Government is proposing to spend N4.86bn in the 2018 fiscal year on maintenance of the Presidential Villa, Abuja. The budgeted amount for next year compared to N4.95bn allocated for annual routine maintenance of villa facilities in the 2017 budget represents a decline of about N90m. In the 2016 budget, the sum of N3.91bn was allocated for annual routine maintenance of Presidential Villa by the Federal Government. The N4.86bn amount for this year is part of the N11.54bn total allocation made for the state house headquarters in the proposed 2018 budget. State House has a total capital allocation of…
Wednesday, 15 November 2017 04:17

Nigeria, Igbo inseparable - Buhari

President Muhammadu Buhari on Tuesday urged people of South-East geopolitical zone not to buy into what he described as the senseless propaganda of secession.He said Nigeria and Igbo were inseparable. Buhari said this at the Abakaliki Township Stadium during his state visit to Ebonyi State. The President said his presence in the state was a demonstration of his strong belief in the unity of the country. Buhari said, “My presence here today is a demonstration of our strong belief in the unity of Nigeria. As the most populous country in Africa, with over 300 ethnic groups, our diversity is almost…
Nigeria’s total debt stock rose by N8tn between September 2015 and September 2017, according to statistics provided by Debt Management Office. DMO said the country’s total debt stock as of the end of September this year stood at N20.37tn, while the figure at the same period in 2015 stood at N12.36tn. This means that within a period of two years, the country’s total debt exposure rose by N8.1tn. In terms of percentage increase, the country’s total debt rose by 64.81 in the period. DMO did not give a breakdown of the federal and state governments’ components of the total debt…
The Senate Tuesday approved the request by President Muhammadu Buhari to raise $3 billion from the international capital market (ICM) through a Eurobond or Diaspora Bond issue or a combination of both to refinance maturing domestic debts, and raise another $2.5 billion from multilateral donor institutions to fund the capital component of the 2017 budget. The approval coincided with the latest data released by the Debt Management Office (DMO) Tuesday showing that Nigeria’s debt stock hit N20 trillion as of September 30, 2017, with the foreign component accounting for 23.04 per cent or N4.694 trillion ($15.40 billion) of the total…
Minister of Budget and National Planning, Mr Udoma Udoma, said recurrent releases to Federal Ministries, Departments and Agencies (MDAs) under 2017 budget had reached N4.24 trillion. Udoma said this on Wednesday in Abuja while giving an overview of the 2018 Budget Proposal tagged “Budget of Consolidation”. He gave a breakdown on recurrent and capital releases to MDAs from January to September under the 2017 Appropriation Act. A breakdown of the non-debt recurrent expenditure showed that personnel costs including pension and gratuities had so far gulped N1.85 trillion, while N138 billion had been released to MDAs to cover their overhead costs.…
A clearer picture of Attorney General of the Federation and Minister of Justice, Mr Abubakar Malami’s role in the reinstatement of fugitive civil servant Mr Abdulrasheed Maina emerged yesterday. The minister admitted before a Senate ad hoc panel probing Maina’s reinstatement into the civil service and promotion to acting director that he met with Maina in Dubai, United Arab Emirates (UAE) last year. He also said he wrote letters to Federal Civil Service Commission (FRSC) on the sacked chairman of the Pension Reform Task Team. Maina was in 2015 accused of over N2billion pension fraud and declared wanted by Economic…
Chief of Naval Staff, Mr Ibok-Ete Ibas, has warned Niger Delta Avengers against threat to resume destruction of oil facilities in Niger Delta. The militant group had recently announced plans to resume hostilities, claiming that the federal government had not fulfilled its promise to redress situations in the region. Speaking to journalists on Tuesday at headquarters of Eastern Naval Command in Calabar, Ibas said no group had the strength to threaten the peace and unity of Nigeria. The CNS, who had an extensive interaction with officers and ratings across all formations under the Eastern Naval Command, said that the navy…
Nigerian authorities must halt a violent, unlawful campaign of demolitions and forced evictions of waterfront communities in Lagos State which has so far left more than 30,000 people homeless and 11 dead, Amnesty International said today on Tuesday. A new report, ‘The Human Cost of a Megacity: Forced Evictions of the Urban Poor in Lagos’, details repeated forced evictions of the Otodo-Gbame and Ilubirin communities carried out since March 2016 without any consultation, adequate notice, compensation or alternative housing being offered to those affected. Some evictees drowned as they fled police gunfire, while at least one was shot dead. “These…
At least three explosions were heard in Zimbabwe's capital early Wednesday and military vehicles were seen in the streets after the army commander threatened to "step in" to calm political tensions over 93-year-old President Robert Mugabe's possible successor. The ruling party accused the commander of "treasonable conduct." The U.S. Embassy closed to the public and encouraged citizens to shelter in place, citing "the ongoing political uncertainty through the night." For the first time, this southern African nation is seeing an open rift between the military and Mugabe, the world's oldest head of state who has ruled since independence from white…
Tuesday, 14 November 2017 03:50

Buhari begins two-day visit to southeast today

President Muhammadu Buhari is to visit southeast Nigeria this week, his spokesman said on Monday, his first trip since taking office to a region formerly known as Biafra. Calls for secession have become increasingly loud in the last few months in parts of the southeast, where the president is deeply unpopular, prompting Buhari to say he will not allow Nigeria to be divided by separatist groups. A million people died in a 1967-70 civil war over the short-lived Republic of Biafra. Buhari, a 74-year-old former military ruler who took office in May 2015, fought in the war as a young…
January 09, 2025

This is the ‘biggest barrier to building wealth,’ says behavioral finance expert

I’ve been meaning to sell some company stock and diversify into another investment for awhile…
January 10, 2025

Bauchi Gov to Tinubu: Your policies not working, hardship worsening

Governor Bala Mohammed of Bauchi State has urged President Bola Tinubu to address the growing…
January 10, 2025

Detty December: ‘an ode to Nigeria’s unyielding spirit’

It’s a world of endless parties and sleepless nights. A relentless celebration that turns West…
January 04, 2025

Shy man cuts off 4 fingers instead of telling boss he wanted to quit his…

A 32-year-old Indian man admitted to cutting off four fingers on his left hand to…
January 08, 2025

Borno attack: Soldiers missing, casualties mount after base overrun

Four days after Boko Haram militants launched a deadly assault on a military base in…
January 10, 2025

What to know after Day 1051 of Russia-Ukraine war

RUSSIAN PERSPECTIVE Kremlin ‘would welcome’ contact from Trump Moscow would be willing to talk to…
December 25, 2024

Stem cell therapy to correct heart failure in children could 'transform lives'

Renowned visionary English physician William Harvey wrote in 1651 about how our blood contains all…
January 08, 2025

NFF appoints new Super Eagles head coach

The Nigeria Football Federation (NFF) has appointed Éric Sékou Chelle as the new Head Coach…

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