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President Buhari Presents N16.39 Trillion 2022 Budget To National Assembly

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President Muhammadu Buhari has presented the 2022 Appropriation Bill for an aggregate expenditure of N16.39 trillion to the National Assembly.

Addressing the joint session of the NASS on Wednesday in Abuja, the President described the 2022 Appropriation as the “Budget of Economic Growth and Sustainability”.

According to him, the 2022 budget is also the first in the nation history, where Ministries, Developments, and Agencies (MDAs) were clearly advised on gender-responsive budgeting.

“These are part of critical steps in our efforts to distribute resources fairly and reach vulnerable groups in our society,’’ he said.

He maintained that defence and internal security would continue to be on top priority of his administration.

“We remain firmly committed to the security of life, property and investment nationwide.

“We will continue to ensure that our gallant men and women in the armed forces, police and paramilitary units are properly equipped, remunerated and well-motivated,’’ he added.

On the parameters and fiscal assumptions of the 2022 Appropriation bill, the President told the legislators that the 2022 to 2024 Medium Term Expenditure Framework and Fiscal Strategy Paper sets out the parameters for the 2022 Budget is Conservative oil price benchmark of 57 US Dollars per barrel;

Other parameters are Daily oil production estimate of 1.88 million barrels (inclusive of Condensates of 300,000 to 400,000 barrels per day); an Exchange rate of four 410.15 per US Dollar; and a Projected GDP growth rate of 4.2 percent and 13 per cent inflation rate.

President Buhari Presents N16.39 Trillion 2022 Budget To National Assembly

“Based on these fiscal assumptions and parameters, total federally-collectible revenue is estimated at 17.70 trillion Naira in 2022.

“Total federally distributable revenue is estimated at 12.72 trillion Naira in 2022 while total revenue available to fund the 2022 Federal Budget is estimated at 10.13 trillion Naira.’’

He said this included Grants and Aid of N63.38 billion, as well as the revenues of 63 Government-Owned Enterprises.

President Buhari said the oil revenue was projected at N3.16 trillion, non-oil taxes are estimated at N2.13 trillion and Federal Government’s Independent revenues are projected to be N1.82 trillion.

According to him, Nigeria is currently emerging from a very difficult economic challenge, saying that the 2022 is a crucial year for the completion of his administration’s legacy projects.

He said: “We must continue to cooperate and ensure that our actions are aimed at accelerating the pace of economic recovery so that we can achieve economic prosperity and deliver on our promises to the Nigerian people.

“The fiscal year 2022 is very crucial in our efforts to ensure that critical projects are completed, put to use and improve the general living conditions of our people.”

The president also highlighted the performance of the 2021 budget, saying:

“By July 2021, Nigeria’s daily oil production averaged one 1.70million barrels (inclusive of condensates) and the market price of Bonny Light crude averaged 68.53 US Dollars per barrel.

“Accordingly, actual revenues were 34 percent below target as of July 2021, mainly due to the underperformance of oil and gas revenue sources.

“Federal Government’s retained revenues (excluding Government Owned Enterprises) amounted to 2.61 trillion Naira against the proportionate target of 3.95 trillion Naira for the period.

“The Federal Government’s share of Oil revenue totalled 570.23 billion Naira as of July 2021, which was 51 percent below target, while non-oil tax revenues totalled 964.13 billion Naira.’’

He noted that the poor performance of oil revenue relative to the budget was largely due to the shortfall in production as well as significant cost recovery by NNPC to cover the shortfall between its cost of importing petrol and the pump price.

President Buhari, who commended the legislators for the expeditious consideration and passage of the Supplementary Appropriation Bill 2021, assured the strong commitment of the Executive to strengthen the relationship with the National Assembly.

“let me start by commending you for the expeditious consideration and passage of the Supplementary Appropriation Bill 2021.

“This further underscores your commitment to our collective efforts to contain the COVID-19 Pandemic and address the various security challenges facing our country.

“I will also take this opportunity to thank you for the quick consideration and approval of the 2022-2024 Medium-term Expenditure Framework and Fiscal Strategy Paper,’’ he added.

The president expressed the hope that the National Assembly would continue to partner with the Executive by ensuring that; “deliberations on the 2022 Budget are completed before the end of this year so that the Appropriation Act can come into effect by the 1st of January 2022.’’

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5th Bodex Social Media Hangout: Exploring the power influence and impact of digital platforms

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The 5th edition of the Bodex Social Media Hangout (BSMH) unfolded in grand style, spotlighting the transformative power of social media in shaping narratives, fostering collaboration, and addressing societal challenges. With the theme “Social Media: The Influence, Power, and Impact,” the event attracted dignitaries, influencers, and stakeholders from across various sectors.

The event was moderated by the visionary Bodex Florence Hungbo, who guided the discussions with her signature poise and depth. Representing Governor Babajide Sanwo-Olu, Dr. OreOluwa Finnih, S.A. on SDG who delivered a keynote address on behalf of the governor, who was on an official trip.

The presence of Dr. OreOluwa Finnih highlighted the Lagos State Government’s commitment to leveraging social media as a tool for growth and societal well-being.

The Bodex Social Media Hangout is a distinguished media talk-shop fostering collaboration among social media users, professionals, and stakeholders. Focused on promoting responsible digital citizenship, BSMH aligns with the United Nations Sustainable Development Goals (SDG 3) to enhance the well-being of users and encourage cultural and societal advancements through social media.

The event emphasized the urgent need for Nigeria to address challenges such as fake news, cyberbullying, and online harassment.

A recent survey by The Guardian Nigeria revealed that 86% of Nigerians have encountered fake news, reflecting the pervasive influence of misinformation on social stability. Additionally, issues like mental health threats, cybercrime, and privacy concerns were discussed as critical challenges requiring immediate attention.

Through its sessions, the event showcased how social media has become a powerful tool for fostering awareness, driving economic growth, and promoting cultural exchange. Speakers and panelists also examined the darker side of digital platforms, including the rise of cyberbullying, mental health issues, and the spread of divisive content.

The event featured an impressive lineup of speakers and panelists who provided unique perspectives on the influence, power, and impact of social media:
Dotun Babatunde – The Impact of AI on Social Media

Dotun Babatunde explored the transformative role of Artificial Intelligence in the social media landscape, emphasizing its impact on the “attention economy.” He remarked, “We live in an attention economy, where human attention is a scarce commodity.” Babatunde explained how AI-driven algorithms prioritize engagement, often amplifying sensational content, but also creating opportunities for personalized and meaningful interactions. He encouraged users and creators to approach AI with a balanced perspective, recognizing both its potential and pitfalls.

A/Prof Tayo Popoola Ph.D. – Social Media: The Influence, Power, and Impact

Associate Professor Tayo Popoola from the Department of Mass Communication, University of Lagos, provided a thought-provoking analysis of social media’s role in society. He stated, “Social media is a double-edged sword: it empowers the voiceless but also creates spaces for misinformation and toxicity. The challenge lies in managing its influence responsibly.” Prof. Popoola underscored the importance of digital literacy in enabling users to harness the benefits of social media while mitigating its negative impacts.

Akin Olaniyan – Navigating the Social Media Age: Clout, Influence, and the Ethics of the Attention Economy

Akin Olaniyan delivered a compelling critique of clout-chasing in the social media era. He commented, “Give any moron a smartphone, and anything and everything becomes content. To such a fellow, clout-chasing is an end in itself, and the smartphone just makes it super-easy.” Reflecting on the quality of content creation, he added, “I am tempted to believe that their choice of subjects reflects their intellect, with the more empty-headed being the most daring.” Olaniyan called for ethical standards in digital content creation and urged society to value substance over virality.

ACP Olumuyiwa Adejobi – The Digital Detective: Solving Crimes in the Social Media Age

The Force Public Relations Officer, ACP Olumuyiwa Adejobi, showcased how social media has revolutionized law enforcement. He stated, “Social media is not just a platform for entertainment; it’s a valuable tool for law enforcement. By leveraging the power in the mass number of social media active users, we can solve more crimes and make our communities safer.” Adejobi shared examples of cases solved through digital platforms and emphasized the need for digital-savvy officers to maximize this potential.

In addition to the keynote speakers, the panelists brought fresh insights and diverse expertise to the event. Notable contributors included:
Olufemi Oguntamu, CEO of Penzaarville Africa.
Tomiwa Talabi, Founder/CEO of Lagos Life Influencer.
Dayo Oketola, Author, PR Consultant, and Former Editor at The Punch.
Iyabo Ojo, Actress, Filmmaker, and Influencer.

Hosted by celebrated media personality Frank Edoho, the event featured workshops, live sessions, and networking opportunities, creating an interactive atmosphere for attendees. Discussions covered a range of topics, from personal branding and content creation to the role of digital platforms in fostering community and enhancing security.

The panelists emphasized the power of social media in amplifying voices, holding leaders accountable, and fostering a sense of global connection. However, they also called attention to the darker aspects of the digital world, advocating for measures to combat negativity and promote a safer online environment.

Dr. OreOluwa Finnih reaffirmed the Lagos State Government’s vision of creating a digital ecosystem that promotes economic growth, cultural exchange, and societal well-being. The event’s mission remains clear: to foster collaboration, combat negativity, and shape Nigeria’s digital landscape for the better.

The Bodex Social Media Hangout remains a leading force in shaping Nigeria’s digital landscape.

In the words of Bodex Florence Hungbo: “Social media is the new oil well, Let us go fetch it.”

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“Tunji Ojo Has No Case To Answer” -Shehu Sanni

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Olubunmi Ojo

Former Kaduna Central Senator, Shehu Sani, says Minister of Interior, Olubunmi Tunji-Ojo, has no case to answer regarding the contract awarded to a company linked to him by suspended Minister of Humanitarian Affairs, Betta Edu.Sani, in a chat with The Whistler, said Tunji-Ojo did not violate any public service law since he resigned from the company years ago.
” It could have been a conflict of interest if he hadn’t resigned.The senator further said it is “not his ministry (that awarded contracts), and companies have the right to pursue businesses anywhere.“Edu’s case is very clear and can’t be equated with that of a company associated with Hon Ojo.“Legally, he can’t be held to account on this matter.“Let’s not be distracted,” Sani said.“The extant provision of the law under the 1999 Constitution is that anybody who is a public servant cannot engage in any business other than farming,” said Nelson Kebordih, a senior lawyer whose interest is in public policy.He said the implication of the law is “that a person must be in active control and directorship of the company in the management of any enterprise.“You are permitted to own shares because owning a share does not put you in the day-to-day management of the company or any enterprise.“If he (Tunji-Ojo) has resigned from being a director, the law does not stop him from owning shares in the company,” he stated.The former lawmaker’s position aligns with the 2008 Federal Service Rules on Chapter 4 which states that “Public officers are not prohibited from holding shares in both public and private companies operating in Nigeria or abroad except that they must not be Directors in private companies, and may only be Directors in public companies if nominated by Government.”
Following the suspension and quizzing of Edu, concerning alleged financial sleaze, the Minister of Interior has come under pressure to resign or equally be suspended by the president after it emerged that his company, New Planet Project Ltd, also received a contract from Edu.Edu had awarded some companies contracts, some of which were unregistered with the Corporate Affairs Commission (CAC) raising concern of fraud and illegality.Tunji-Ojo is also being pressured to step down with many commentators saying he has flouted the Public Service Rules which barred public servants from being awarded contracts or contracting any business except farming.But the Minister while speaking on television explained that he had resigned since 2009 from the company.“Almost five years ago, I resigned as director of the company, so I’m not a director. I resigned on 1st of February, 2009, you can take that to the bank,” the minister had said.

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”Your mentorship, humility, and resilience was exemplary” Oando Boss, Wale Tinubu Mourns Barkindo

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The Group Chief Executive, Oando Plc, Jubril Adewale Tinubu, has mourned the death of H.E. Mohammad Sanusi Barkindo, the Secretary General of the Organisation of Petroleum Exporting Countries, OPEC.
Tinubu said Barkindo’s death has robbed him of a good friend.
He wrote: “We had many conversations and speeches together  yesterday but this wasn’t one of them.
“The most profound reminder of the fragility of life is death.
“You were a good man who lived a great life. Y
“I still can’t believe the news, but Allah knows best. Till we meet again my good friend.”
Barkindo died at about 11pm on Tuesday, 5th July 2022.
His death confirms the old saying of a thin line separating life from death. But once that line is crossed, the gulf created becomes as large as an ocean, and so treacherous that it’s impossible to cross back.
The sad incident of the death of H.E. Mohammad Sanusi Barkindo has again brought to the fore what difference a few hours coiuld make between life and death.
Mohammad Sanusi Barkindo was among other top and eminent personalities that delivered speeches at the ongoing 21st Nigeria’s Oil and Gas conference in Abuja . His speech earned him a standing ovation.
Unfortunately, the technocrat died of heart attack hours after he was honoured by President Muhammadu Buhari at the Presidential Villa.
A former managing director of the NNPC,  Barkindo was appointed OPEC Secretary-General in 2016. He was the fourth Nigerian to hold that position and the 28th person in the role overall.
He was GMD of the NNPC between 2009 and 2010.
He was 63 years old.


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