Connect with us

Business & Economy

2025 Budget Defence : Senate queries Finance Minister on Fuel Subsidy removal 

Published

on

Finance Minister, Mr Wale Edu
Senate queried  Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun on how proceeds from the 2024 budget were expended.
While the Minister of Finance , Wale Edun and the Minister of Budget and Economic planning , Senator Atiku Bagudu were put on hot seats by the Senate Committee on Appropriation, the DG of NOA and that of  NAN , had very tough encounters  with the Senate committee on Information and National Orientation at the budget defence.
Trouble came the way of the  Minister of Finance when barrage of questions were fired at him by some members of of the Appropriation committee on state of implementation of the country 2024 budget , particularly the capital component .
Specifically , Senator Abdul Ningi ( PDP Baichi Central) , in the barrage of questions fired at the Minister , asked him to explain how proceeds from fuel subsidy removal were expended in the 2024 fiscal year .
” What is the budget performance achieved so far ,  for 2024 fiscal year  , particularly  in terms of the capital expenditure.
 We haven’t heard from the Minister how much has been saved from  the removal of fuel subsidy and how much has been expended .
“We also haven’t heard from  the Ministers  about the debt servicing. How much have we actually used to service our debt in 2004?
” How much are we expecting to service the debt in 2005? Finally ,will the Minister of Finance guarantee that the extension of the capital component of the 2024 budget to June 30, 2025  will give the desired results in terms of implementation that has a very low percentage now ? “
Apparently unsettled by the question , the Minister hurriedly requested the committee to accord him a close door session for detailed response to the question .
” Are we in a closed door session ? If we are not in a closed door session , i will humbly seek for  that for detailed explanations on the questions asked “, he said .
The Committee Chairman , Senator Solomon Olamilekan ( APC Ogun West ) , according asked journalists to excuse them for the closed door session.
Earlier at the budget defence session the Senate Committee on Information and National Orientation had with agencies under its purview , the Director General of  National Orientation Agency ( NOA) , Mallam Issa – Onilu and his counterpart in the News Agency of Nigeria ( NAN) Ali Mohammed Ali , were ordered to re – draft and re – present their budgetary proposals for 2025 fiscal year .
The committee chaired by Senator kenneth Eze ( APC Ebonyi Central), tackled the NOA  DG on the National Identity Project being implemented  by the Agency by saying the project is not known to Nigerians , particularly, those residing at the grassroots .
But the NOA  DG , held his ground by telling the committee members that the project is very necessary in putting in place , the right value system .
” The challenge we have about value system is about National Identity which is very necessary at galvanising Nigerians for Nation building ,  national development and growth “, he said .
The Committee however insisted that he should go back for re – drafting programmes of the agency to be captured and appropriated for , in the 2025 fiscal year .
Similar fate also befell the Director General of News Agency of Nigeria ( NAN) , who was told to go and reconcile disjointed figures presented in the 2024 budget implementation before coming for appropriation of projected figures for 2025 fiscal years .

Business & Economy

Ogor Modern Market Enmeshed In Utter Neglect

Published

on

By

 

By David Owei

The neglect of the Ughelli/ Ogor Ultra Modern market built by the Delta state government for business and commercial purposes is beginning to generate concerns among stakeholders as the market has become a shadow of its self unless appropriate actions were taken by the local government council in particular and the state government in general.

Our correspondent reports that most of the lock – up shops already allocated to earger traders are under lock and key,while business is at it’s lowest eb and only few traders and buyers were seen exchanging goods and services

Responding to this development,the President General of the Oto – Ogor ,Hon Emmanuel Edirin faulted the Ughelli North LGA Chairman,Hon Jaro Egbo for not following the existing plans by his predecessor to ensure that the Ultra Modern Market remain a model commercial business hub for the patronage for not only residents of Ughelli and Oto- Ogor but other states in the country .

He posited that the people of Ogor wondered why the council Chairman,Hon Jaro Egbo would relocate bonafide traders from the Ultra modern market to another environment which is not conducive to business,for sellers and buyers.They are calling him to rescind that decision for the interest of the traders and buyers.

Edirin there called on the government to come to their aid as a matter of urgency for the market to come back to life once again .

He further lamented that despite the inspection visit by the council Chairman to the land provided for proposed police posts to be built in the Kingdom,neitherb structure nor construction has commenced on the site.

Edirin added that the Kingdom would do all that it takes to ensure the project is built and completed and put to effective use.

The President General has assured the people his Kingdom of more effective representation and better days ahead.

He implored them to support and collaborate with him,as the importance of unity and support cannot be overemphasized.

Continue Reading

Business & Economy

FG poised to promote bee keeping for jobs creation, improved income -Minister

Published

on

By

President Bola Ahmed Tinubu

 

By Abdul-Ganiyy Akanbi
Federal Ministry of Livestock Development said its poised to provide the requisite leadership to unlock the great opportunities inherent apiculture, especially jobs creation and improved income for the populace, having fully recognizes its significance and contributions to the nation’s agricultural sector.

Minister of Livestock Development, Idi Mukhtar Maiha who gave the assurance at this year’s World Bee Day celebration and the 6th Nigerian Youth Beekeepers Summit with the theme: “Bee inspired by nature to nourish us all” organized by the ministry in Abuja, said the honey bee industry would not be exempted from President Bola Tinubu’s deliberate decision to develop all sub-sectors of animal agriculture through the creation of the ministry.

Maiha said the ministry was committed to developing and implementing policies that promote the growth and development of the apiculture industry, explaining that the collective mission to promote apiculture development and youth participation highlights the vital roles that the bees and other pollinators play in ecosystem restoration, agri-food systems and environmental health.

“Bees and pollinators play a crucial role in ensuring food security, economic development, and environmental conservation. They pollinate over 75% of the world’s crops, including fruits, vegetables, nuts, and seeds.

“In Nigeria, apiculture portends an immense potential for job creation, poverty reduction and economic growth. This year’s campaign thus aims at consolidating on past gains in the industry by further engaging and sensitizing the youth and other stakeholders,” he stressed.

The minister disclosed that the government’s drive and strategy would be to promote modern bee keeping through support in the establishment and development of more modern apiaries across the country and providing structural and technical assistance to existing beekeepers.

To improve on the standards and quality of Nigeria honey bee products, he added that a Standard Operating Procedure has been drafted, awaiting review and validation, saying “this will form the crux of the much-anticipated code of practice for beekeeping in the country.”

He, however, lamented that despite their importance, bees face numerous threats, including habitat loss, pesticide use, climate change, and declining pollinator populations, insisting that these must be addressed through sustainable beekeeping practices, research, and policy support.

Interestingly, he reiterated the commitment of the ministry to promoting youth participation in apiculture through training, capacity building, technical and professional support, saying the present administration recognizes the potential of apiculture to create jobs, generate income, and improve livelihoods for women and young Nigerians.

Earlier, the National President, Youths for Apiculture Initiative, YFAI, Mr. Kingsley Nwaogu, said by observing the World Bee Day each year, stakeholders could raise awareness on the essential role bees and other pollinators play in keeping people and the planet healthy, and on the many challenges they face today.

Nwaogu disclosed that they have been celebrating the day since 2018, with the efforts of the Government of Slovenia and the support of Apimondia, that led the UN General Assembly to declare 20 May as World Bee Day.

Lamenting that bees, pollinators, and many other insects are declining in abundance nowadays, he however, noted that celebrating the day “provides an opportunity for all of us – whether we work for governments, organizations or civil society or are concerned citizens – to promote actions that will protect and enhance pollinators and their habitats, improve their abundance and diversity, and support the sustainable development of beekeeping.”

He said their decline jeopardizes food production, increases costs and worsen food insecurity, particularly for rural communities.

“Beekeeping represents a viable microeconomic enterprise which pays for itself in the first year, Apiculture is a sustainable tool for grassroots poverty alleviation and empowerment of women and youths,” he said.

According to him, Nigeria spent $3billion annually on honey importation, saying that the country is currently producing honey below its optimal consumption capacity at 40,000 tons out of 400,000 tons annually (less than 10 percent of the consumption) this trend indicates a large business opportunity.

“The total production in the industry has been unable to meet national demand. It is widely consumed globally due to its numerous nutritional and health benefits.

“Majority of our farmers growing different cash and food crops and citrus, require the services of beekeepers to provide their colonies during flowering period if we are to achieve maximum yields and high-quality farm produce, that is to say, sustainable agricultural productivity cannot be achieved without the bees, yet, many farmers consider honey bees as harmful micro-livestock, Nwaogu explained.

Also speaking, the Director-General, Youth for Apiculture Initiative, YFAI, Yusuf Adeyemo, urged the Federal Ministry of Livestock Development to consider elevating apiculture to a full department and establishing an Apiculture Board, similar to Ethiopia and other African countries that have successfully harnessed the potential of apiculture for economic growth.

Adeyemo also requested full support for the sector, akin to livestock development, to unlock its vast potential.

The YFAI leader further sought the collaboration with the National Agency for Foods, Drugs Administration and Control, NAFDAC to develop mobile honey testing facilities, ensuring Nigeria honey meets international standards.

“Establishing apiary estates across Nigeria would also greatly benefit our beekeepers. Let’s work together to unlock the potential of apiculture and make Nigeria a major player in the global apiculture industry,” he said.

Continue Reading

Business & Economy

EU,Abia State launch Solar- Health Project (NISHP)to strengthen the health care delivery system

Published

on

By

Deputy Governor of the State Engr Ikechukwu Emetu and other officials

By Tricia Michaels

The European Union (EU)in collaboration with the Abia State Government has launched a N4.840,700,800billion solar power project aimed at 24/7 electrifying of over 25 Primary health centers and businesses across approximately 25 Primary Healthcare Centres (PHCs) across 17 local government areas.

This initiative, supported by the European Union (EU), aims to improve healthcare services, particularly in rural areas, by ensuring a reliable power supply for diagnostic equipment, vaccine storage, and medication preservation.

Governor Alex C. Otti said on Tuesday during the launch at the Deputy Government office,Government house in Umuahia that his administration is committed to strengthening healthcare infrastructure , further boosting local economic activities of the State.

The Governor ,who was represented by the Deputy Governor of the State Engr Ikechukwu Emetu
stated that this initiative will not only transform the health care system in the State but will bring life to the communities.

He noted that the move will support more economic development in surrounding locations and equally accumulate an overall improvement in the living conditions of the people.

“I would like to specially appreciate our partners from the European Union (EU) for choosing Abia as one of the few states to participate in this round of the project.

” This is a great honour, and we do not take it lightly.

” On behalf of the Government of Abia State, I would like to convey the collective gratitude of our people to the leadership of the EU in Brussels for bringing this excellent initiative to our State.

“I would also like to thank the implementing partners, NTU International, for their hard work and commitment to the long term success of this project.

Mr Tinyan Ogiehor, the Senior Stakeholder, Engagement Manager of NISHP, noted that NISHP was funded by EU in collaboration with the Abia State Government to particularly improve health outcomes in the state.

“This initiative, supported by the European Union (EU), aims to improve healthcare services, particularly in rural areas, by ensuring a reliable power supply for diagnostic equipment, vaccine storage, and medication preservation.

The project focuses on equipping 25 PHCs across the state’s 17 LGAs with solar power.

The European Union is supporting the NISHP, which underscores their commitment to renewable energy and healthcare.

“The Abia State government is also contributing 30% counterpart funding to the project.

“The initiative aims to enhance diagnostic equipment operation, vaccine storage, and medicine preservation, leading to better healthcare delivery, especially in rural areas, and support growth of local SMEs around these health facilities.

“The solar power project is expected to benefit 50 plus small businesses operating within the facilities, further boosting local economic activities.
Commitment to PHC

According to him,
a ten-member Steering Committee, chaired by the Commissioner for Power Abia State, is overseeing the project’s implementation.

Continue Reading

Latest

Uncategorized15 hours ago

FG slams Senator Natasha with Criminal defamation charges against Akpabio, Bello

  The Federal Government has formally filed criminal charges against Senator Natasha Akpoti-Uduaghan for allegedly making damaging allegations against the...

Business & Economy18 hours ago

Ogor Modern Market Enmeshed In Utter Neglect

  By David Owei The neglect of the Ughelli/ Ogor Ultra Modern market built by the Delta state government for...

Business & Economy18 hours ago

FG poised to promote bee keeping for jobs creation, improved income -Minister

  By Abdul-Ganiyy Akanbi Federal Ministry of Livestock Development said its poised to provide the requisite leadership to unlock the...

Oil & Gas22 hours ago

NOGOF 2025: Governor Diri Urges National Assembly To Review Petroleum Industry Act …As Lokpobiri, Others Task Participants On Effective Partnerships

By David Owei, Bayelsa Bayelsa State Governor, Senator Douye Diri has again called on the National Assembly to review the...

Uncategorized1 day ago

FCT budget:Wike seeks national support to address security 

By Our Reporter The Minister of the Federal Capital Territory (FCT), Barr Nyesom Wike, has sounded the alarm about the...

Uncategorized1 day ago

NPF Condemns Unprovoked Attack on IRT Operatives in Edo State.       ‎*As IGP Orders Investigation into Oyo Tragic Traffic Incident

By Our Reporter ‎ ‎The Nigeria Police Force has condemned the unprovoked attack on police operatives in the early hours...

Editorial1 day ago

Senate vows to criminalise use of chemicals to ripen fruits *urges NAFDAC, Agric Ministry to investigate chemical ripening of fruits 

  By George Mgbeleke Alarmed at the damage caused by chemicalized fruits in the health of the citizenry,Senate on Wednesday...

General News2 days ago

Otuaro lauds Tinubu As PAP Presents Laptops To 663 Scholarship Beneficiaries

  By David Owei,Bayelsa The Presidential Amnesty Programme (PAP) has concluded the distribution of laptops to final year beneficiaries of...

Religion2 days ago

Hajj: NAHCON airlifts 79% of Nigerian pilgrims to Saudi Arabia

By Abdul-Ganiyy Akanbi National Hajj Commission of Nigeria, NAHCON, has successful airlifted 32,549 pilgrims, representing 79.1% of the total intending...

General News2 days ago

JAMB allows Candidates who missed exam to retake …As JAMB Boss breaks silence on UTME glitches

By Our Reporter In a bid to pacify the anger of most Nigerians on the poor performance of  students 2ho...

Trending