Budgets
PIB: IPMAN commends National Assembly for inclusion of PEF
The Independent Petroleum Marketers Association of Nigeria has commended the National Assembly for the inclusion of the Petroleum Equalisation Fund in the newly passed Petroleum Industry Bill. The Public Relations Officer of IPMAN, Yakubu Suleiman, gave the commendation on Sunday in a statement. Suleiman said the legislative arm of government had demonstrated that it was sensitive to the yearnings of majority of Nigerians for a permanent solution to the energy problems in the country. He said the entire content of the bill as passed by the Senate would serve as a catalyst for the inflow of the much desired foreign direct investment to boost the economy. He said: “The much awaited Petroleum Industry Bill has come to ease Nigerians of the pains that necessitated the call for the Bill in the ...
JUSUN strike: How we decongested our cells – Police
The police in Lagos say they have devised means to decongest their cells amidst the prolonged strike by the Judicial Staff Union of Nigeria (JUSUN). The police spokesperson in the state, Muyiwa Adejobi, told the News Agency of Nigeria (NAN) on Tuesday that the decongestion was carried out in collaboration with the office of the Chief Judge and Attorney-General of the state. NAN reports that JUSUN, on April 6, directed its members to shut down all courts across the country, demanding the implementation of the law granting financial autonomy to the Judiciary. “The command had been managing the situation in collaboration with the office of the state chief judge,” Mr Adejobi said. He, however, did not give the number of suspects that had been granted bail. “We work with the office of the CJ an...
House asks federal government to suspend upcoming census exercise
Following the ravaging insecurity in the country, the House of Representatives yesterday called on the federal government to suspend the upcoming census exercise until security improved. The House also said it will be counter-productive and a waste of scarce financial resources to conduct such exercise amidst the economic recession. The call was made on the heel of a motion under matters of urgent public importance titled “Call on the federal government of Nigeria to Suspend the Proposed 2021 Population and Housing Census to be conducted by the National Population Commission” sponsored by Shelia Barwa Bell. Moving the motion, Bell said that the state of insecurity would not guarantee accuracy if the census was conducted now, arguing that many Nigerians have fled their homes and villages. H...
Kogi Assembly passes 2021 budget estimate of N130.54 billion into law
The Kogi House of Assembly on Tuesday passed the N130.54 billion Appropriation Bill tagged “Budget of Accelerated Recovery” into law. Newsmen report that the House considered the bill Clause-by-Clause at the “Committee of the Whole” of the House at plenary in Lokoja. Aderonke Aro (APC-Yagba West) and Chairman, House Committee on Finance, Budget Monitoring and Economic Planning, presented the committee’s report for consideration. Aro declared that Ministries, Departments and Agencies (MDAs) with genuine reasons for adjustments in their allocations were taken care of during the defence of their respective budgets. In the budget presented to the House on Dec. 1, Gov. Yahaya Bello of Kogi had said that the budget was indicative of the assessment of the amount the state could generate on its ow...
National Assembly raises 2021 budget by N580 billion, approves N13.588 trillion
The two chambers of the National Assembly yesterday passed the 2021 Appropriation Bill, increasing the budget size from N13.08 trillion presented to them by President Muhamnadu Buhari 11 weeks ago to N13.588 trillion. The passage of the 2021 budget followed consideration and adoption of harmonised reports separately submitted to them by their Committees on Appropriation. The two chambers increased the 2021 budget by about N580 billion and pegged daily crude oil production at 1.86 million barrels per day, while oil benchmark price was fixed at $40 per barrel. They approved N379 to dollar as the official exchange rate while GDP growth rate was pegged at 3 per cent. Highlights of the report approved by the Senate showed aggregate expenditure to be N13,588,027,886,175, statutory transfer of N4...
Hollywood-backed Quibi to shutter six months after launch
Streaming service Quibi said on Wednesday it intends to wind down its operations and start a process to sell its assets, just six months after its launch. The announcement highlights the dominance that Netflix, Amazon’s Prime Video, Disney+ and Apple TV+ hold over smaller streaming service providers, which struggle to keep up against their large content budgets and vast libraries of shows. “The world has changed dramatically since Quibi launched and our standalone business model is no longer viable,” founder Jeffrey Katzenberg said in a statement. Los Angeles-based Quibi offers entertainment and news in episodes of 10 minutes or less on mobile phones, initially promoted for on-the-go viewing. The service was priced at $5 a month with advertisements, or $8 a month without them. “Our failure...
