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Reps Pass Medium Fiscal Strategy

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Reps Approve Buhari's $5.8 Billion Loan Request

The House of Representatives has passed the 2022–2024 Medium Term Expenditure Framework and Fiscal Strategy Paper as presented by President Muhammadu Buhari .

The passage followed consideration and adoption of the report by the House Committee on Finance at the plenary on Tuesday.

The Chairman of the House Committee on Media and Public Affairs, Benjamin Kalu, was on Thursday asked about the delayed passage of the MTEF/FSP which is necessary before laying of the national budget as prescribed by law.

Kalu had responded that the House would pass the MTEF/FSP ahead of budget laying by the president later in October.

The committee recommended that the external borrowings proposed by the Federal Government to finance the deficit in the 2021 budget be approved.

It also recommended that most of the parameters proposed for the next fiscal year be approved as presented by the executive arm of government.

READ ALSO: Senate Passes 2022-2224 Medium Term Expenditure, Fiscal Strategy

In its report, the committee recommended that the daily crude oil production of 1.88 million barrels per day), 2.23mbpd and 2.22mbpd for 2022, 2023 and 2024, respectively, be approved, ‘in view of average 1.93mbpd over the past three years, and the fact that a very conservative oil output benchmark has been adopted for the medium term in order to ensure greater budget realism’.

The panel also recommended that ‘the proposed benchmark oil price of $57per barrel for 2022 and $55 for 2023 and 2024 be approved based on oil forecast by the World Bank and consultation with the NNPC; that the exchange rate of N410.15/$ proposed by the executive for the 2022-2024 be approved; that the projected GDP growth rate of 4.20 per cent be approved; that the projected inflation rate of 13.00 per cent be also approved.

“That the fiscal deficit estimate of N5.62tn, including GOEs, also be sustained due to the Federal Government’s conservative approach to target setting and its determination to improve collection efficiency of major revenue generating agencies, while it continues to enforce the implementation of the Performance Management Framework for GOEs by ensuring that they operate in more fiscally responsible manner whilst reviewing their operational efficiencies, and costs-to-income ratios, as declared.”

The committee further recommended that the projected new borrowings of N4.89tn (including Foreign and Domestic Borrowing) be approved, subject to the provision of details of the borrowing plan to the National Assembly.

 

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BREAKING: PDP Wins, Clears All 30 Councils In Osun Poll

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The Peoples Democratic Party (PDP) on Saturday emerged the winner for  the election for all the chairmanship and councillorship seats in all the 30 local government areas of Osun State.

The election was held on Saturday.

The Chairman of the Osun State Independent Electoral Commission, Hashim Abioye, announced the results at a press conference in Osogbo, the state capital on Saturday evening.

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Bisi Akande Drags Obasanjo Into Bola Ige’s Murder

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By John Michael Ojo

Bisi Akande, a former governor of Osun State, has alleged that the administration of  former President Olusegun Obasanjo was responsible for the brutal killing of erstwhile Attorney General of the Federation, Chief Bola Ige.

Akande stated this while appearing  on Edmund Obilo’s podcast, State Affairs, where he also claimed that a friend Oluwole Rotimi, had given a hint on the impending danger if the deceased resigned from President Obasanjo’s government.

When asked to speak on the incident, the former interim Chairman of the All Progressives Congress (APC), said: “One evening, he (Ige) called me and said he was going to resign from this government tomorrow. It was sudden, and I said, ‘Please sir, I will come back to you.’ I called Oluwole Rotimi, and said this is what your friend told me: that he was going to resign from Obasanjo’s government tomorrow.

READ ALSO: South-West Governors, Tinubu, Akande, Akinrinade, Others To Meet Over State Of The Nation

“He asked me to advise him not to resign because if he does, he is likely going to die—he said that to me on the phone. I called Uncle (Ige) and begged him not to resign.

“He said he had talked to Wole Soyinka and Bola Tinubu, and both of them said he should resign. But I said, ‘Don’t. You can go to Obasanjo, tell him what you are angry about, and if he doesn’t want you anymore, here is your letter.’”

Akande who also claimed that Ige,  a Second Republic Governor of  Oyo State had issues bordering on trust with the then President said “Since he was resigning from his government, I think he stopped trusting him.”

However, Akande who was the governor of a neighbouring state when Ige was assassinated in Oyo State on the 23rd of December 2001, failed to provide names of those he felt were directly involved in the murder case.

“I don’t know. He was killed in Oyo State while I was ruling in Osun State. The government killed him (Bola Ige). It was a state murder.

“Lam Adesina, who was the Chief Security Officer of Oyo State then, went to court, and Ladoja withdrew the case from court. He might know more and be able to tell you.

READ ALSO: Adebanjo Wants EFCC To Probe  Sources Of Wealth Of Tinubu, Akande

“It was the government that killed him, and the government can kill anybody.

“Obasanjo wasn’t keen about Ige’s death; he was more interested in the stability of himself,” Akande maintained.

 

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LG Election: Opposition Parties On Holiday, APC Remains Party to Beat – Abiodun

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My Dad Asked Me To Prioritise Civil Servants, Pensioners, Teachers - Abiodun
Ogun State Governor Dapo Abiodun

Ogun State Governor, Prince Dapo Abiodun has declared that based on the performance of his administration in the last five years, opposition parties are clearly unpopular and invisible in the forthcoming local government election.

The governor added that the quality of candidates the ruling All Progressives Congress (APC) is presenting in the election would make it the party to beat with landslide victory in all the 20 Local Government Areas of the State.

Speaking through his Special Adviser on Media and Communications, Hon. Kayode Akinmade, over the weekend, Prince Abiodun explained that his administration has changed the hitherto volatile political environment in the state and made it conducive for opposition parties to operate without hindrance or intimidation.

According to him, instead of the primordial machinery of intimidation, his administration has dwarfed the opposition parties in the state through sterling performance and creative ideas for development.

Governor Abiodun, therefore, urged members of APC in the state to show more commitment and work in harmony to sustain the feats already attained in the past years and ensure resounding victory during the November 16 local government poll.

“With the quality of candidates our party is presenting in the forthcoming local government election in the State, APC remains a part to beat; we have assiduously and consistently made remarkable impacts in the life of our people and this is indeed our selling point.

“Without going through the primordial route of physical intimidation of opposition parties, our administration has obviously silenced them by our intimidating projects, creative ideas and prudence, which have earned us a leading status among other federating units.

“It is now incumbent on every APC member across the 20 Local Government Areas to sustain the enviable feats our party has recorded in the last five years by showing more commitment and work in unison for the victory of our party come November 16,” Abiodun said.

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