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

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

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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Politics

CAN Opposes Christian-Christian, Muslim-Muslim Presidential Ticket In 2023

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CAN President

The Christian Association of Nigeria (CAN) has warned  political parties not to buy the idea of  Christian/Christian tickets or Muslim/Muslim presidential tickets in 2023.

CAN President, Samson Ayokunle gave the warning on Thursday after a brief meeting with Deputy Senate President, Ovie Omo-Agege at the National Assembly.

Ayokunle told politicians not to heat up the polity with utterances as campaigns commence.

Ayokunle advised them to always remember there is already tension across Nigeria due to insecurity

“We urge that a balance of both religious practitioners be considered. We don’t want Christian/Christian ticket nor Muslim/Muslim ticket”, he said.

Ayokunle expressed disappointment with the economic downturn and its consequences on the people.

The CAN President called for quick actions and policies that will cushion the effect.

“Unemployment is at an unimaginable level. While we appreciate the efforts of the legislature in calling the attention of the executive, more robust and daring efforts are required

“Enabling environment should be created for investments and incentives or tax exceptions given to local manufacturers on some goods”, Ayokunle added.

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NSCDC Deploys 20,000 Personnel For Anambra Election

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NSCDC

Nigeria Security and Civil Defence Corps (NSCDC) has deployed 20,000 personnel to provide security for the November. 6 governorship election in Anambra.

Those to be deployed include personnel in the NSCDC Arms Squad Unit, Counter-Terrorism Unit and Chemical, Biological, Radiological and Explosives Unit.

NSCDC Commandant-General, Dr Ahmed Audi, said this on Thursday in Abuja while delivering a keynote address at a three-day Train-the-Trainers Capacity Building and Electoral Workshop, ahead of the Anambra poll.

Audi said that the special forces would be drafted to key areas in the state where they would be saddled with the responsibility of protecting lives and property.

“They will also see to the protection of sensitive and non-sensitive election materials, INEC officials and all critical assets against vandalism, damage or arsonist attacks,” he said.

He said that NSCDC, in collaboration with other security agencies, had developed strategies to checkmate any act of electoral violence and other nefarious activities capable of undermining the electoral process.

The commandant-general further said that the deployed personnel would ensure effective monitoring before, during and after the election.

Audi also said that the personnel would be drafted from the NSCDC commands in all the states in the South-South and South-East zones.

“In addition, personnel from Kogi, Ekiti, Ondo, and Benue have been placed on standby, in case there is the need for reinforcement,” he said.

The NSCDC boss warned the officers to strictly adhere to the ethics of the corps and comply with the law in the discharge of their duties.

“Let me warn, and I mean it, that any conduct of an officer of NSCDC that undermines the rule of law will be seriously dealt with, in accordance with the public service rule,” he added.

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Stakeholders Call On NERC, EEDC To Scale Up Performance In S’East

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Electricity

Stakeholders in the electricity industry in the South-East have charged the Nigerian Electricity Regulatory Commission (NERC) and Enugu Electricity Distribution Company (EEDC) to scale up their performances.

The people gave the charge on Thursday in Enugu at a NERC Stakeholders’ Engagement on Consultation on the Review of Customer Protection Regulations.

They described the periodic review of the regulations after five years as worthwhile.

They, however, said the practical implementation of the regulations, especially concerning the treatment of customers’ complaints, was of greater importance than the proposed review.

An electricity consumer, Mr Joshua Itumo, said the period between the supply of bills and disconnection of defaulting customers “must be reviewed to meet present realities and hardship customers face to get the money to pay their bills.

“The review also has to include that those enforcing disconnection must do it with human face and listen when superior argument or evidence of payment is presented,” Itumo said.A landlord in Trans Ekulu, Enugu, Mr Ifeanyichukwu Okorie, urged NERC and EEDC to clearly state the amount, which when accumulated by a tenant, must be paid before he or she parks out.

Okorie said: “It is not palatable that someone will park into a new apartment and inherit over N500,000 as electricity liability.

“Where does he start as a new tenant to off-set such a huge bill?”

Mr David Emeson, who lives at Agui Road, Enugu, said it was better to ensure the existing regulations were implemented to the latter than have a review that could not be implemented.

“We are not lacking good regulations. The problem is that NERC and EEDC most times fail to carry out what the regulations say and leave customers to their fate,’’ Emeson said.

Earlier, Prof. Frank Okafor, the Commissioner in charge of Engineering and Performance Monitoring in NERC, said the review had become necessary after five years in order to accommodate new ways of doing things, technology and other innovations.

Okafor said the review was not to witch-hunt any stakeholder but ensure more efficient and robust regulations to the benefit of electricity consumers.

“We are looking for ways to ensure more proactive and fast-result oriented ways of attending to customers’ complaints and using technological devices to do this, since NERC cannot be everywhere,” he said.

He said it was difficult for NERC to be proactive due to limited manpower, pointing out that the commission had only 150 staff members nationwide.

Responding, the Managing Director of EEDC, Mr Chorghade Praveen, assured the customers that the company was eager to resolve their complaints in good time, “just as we have recorded noticeable improvement in power supply across our network”.

Praveen also said the company was designing some technological innovations for complaints to be reported and solved within few hours of the report, where possible.

“We are working to improve our customers’ experience just as we have improved in the rate and quality of power supply throughout our franchise area.

“EEDC is moving from customers’ satisfaction to customers’ affection in order to allow our esteemed customers the best quality of service and care so far.

“All the complaints raised here and others to come, I assure you will be treated with dispatch,” he said.

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