News Summary 09/02/2017 Briefing on The 2017 Budget

News Summary 09/02/2017 Briefing on The 2017 Budget

Briefing on The 2017 Budget
A civil society group has appealed to the national assembly to carefully look into the 2017 budget and expunge some frivolous, inappropriate, unclear and wasteful estimates before its passage.

GMN business news for 8th February 2017

Renewable energy is clean and cheap; experts believe the latitude can be explored further beyond lighting houses to powering businesses, irrigation schemes, industries and job creation.

Cattle Rustlers
One hundred and ninety four suspected armed bandits including a quack medical personnel terrorizing communities in Niger state have been arrested by the police.

The state police command also recovered six hundred and twelve cattle and handed them over to their owners.

Why We Can’t Meet Oil Marketers’ Demand – CBN
The central bank of Nigeria (CBN) said yesterday that it could not meet the demand for foreign exchange by oil marketers because of the continuous decline in Forex earning and receipts.

The deputy governor of the CBN, Sarah Alade, said this when she appeared before a House of Representatives ad-hoc committee on review of fuel price.

Alade, who represented the CBN governor Godwin Emefiele, said the apex bank was facing serious difficulties in meeting up with the demands of the marketers.

She said from 2013 to 2014, the apex bank got between $2 billion and $3 billion monthly and sold about 30 percent of that at the inter-bank, saying about 70 percent of the money came from foreign investors.

However, she said, the CBN now gets between $600 million and $700 million with nothing coming from the inter-bank.

Speaking at the hearing, minister of state for petroleum, ibe kachikwu said there was an arrangement to ease the forex scarcity, known as intervention scheme.

He said going by government plans; the country would stop fuel importation by the year 2019 as foreign investors are currently collaborating with the Nigeria national petroleum corporation (NNPC) to make the country’s refineries fully functional before then.

“This has consistently served as a target for this government so that by 2018 December, NNPC must be able to deliver on some of the terms given to them, one of which is to reduce petroleum importation by 60 per cent. And by 2019, we should be able to exit completely the importation of petroleum products in this country,” he said.

Members of the committee, chaired by rep Raphael Nnanna Igbokwe (PDP, IMO) expressed concern that despite the country being a producer of crude oil, citizens still pay huge sums buying the refined product.

Construction of NTA Lafia Road
Nasarawa state government is to construct the deplorable NTA Lafia road among other roads in the state before the onset of raining season this year.

Governor Umaru Tanko Almakura said this when he led team of engineers and constructors handling the project of feasibility studies of NTA Lafia road.

DG NTA Defends 2017 Budget
Director General Nigerian television authority NTA Yakubu Ibn Mohammed says a large percentage of the authority’s 2017 budget of 6.91 billion will go for upgrading operational facilities to situate it better as the premium public broadcaster. He stated this when the authority’s management team appeared before the senate committee on information and national orientation for budget defiance.

Environment Minister Defends 2016 Budget.
The federal government has reiterated its Commitment towards the realization of Projects targeted at environmental safety and Sustainability as contained in the 2016 and 2017 Budget proposals. Minister of environment, Amina Mohammed Stated this when she appeared before the budget defense session of the house Committee on environment and Habitat.

FEC Meeting
In furtherance of the ongoing efforts to address the high cost of living and make life comfortable for Nigerians, the federal government approved some measures that would boost agricultural production and distribution.

GMN On Revisiting Irregular Migration.
Ensuring better governance and healthier economy experts say is key to reducing desperation by some Nigerians to migrate to other countries where they believe they will enjoy a better life.

This position was taken by guests on NTA’s good morning Nigeria while revisiting the persisting issue of irregular migration.

GMN On Social Media And The Information Ecosystem
The coming of the World Wide Web no doubt has had tremendous benefits in bringing the world closer in terms of space.

The social media as a part of the information ecosystem has created like never before a free flow of information, many times with surprising consequences.

Highlights the good and bad sides of the social media and indeed the cyber information system

Green Bond Initiative
The federal ministry of environment has proposed a green bond of at least twenty billion naira to finance environmental friendly projects under the sustainable development goals.

This was at a forum with permanent secretaries of key ministries in Abuja on Nigeria’s plans to issue the first sovereign green bond.

Nigeria On Small Arms And Light Weapons.
Nigeria is set to join six other ECOWAS member States in the fight against the misuse of small Arms and light weapons with the launch of the ECOWAS – EU Small arms project in Abuja on Thursday.

The national agency for science and engineering infrastructure NASENI is an agency set up by federal government to produce home grown technologies.

But since its establishment in 1992, the research institute has produced a number of research results yearning for commercialization.

House committee chairman, Beni Lar, impressed by the state of technologies churned out by the institute wonders why the products cannot be replicated in great quantity for the benefit of Nigerians.

Market Fire.
Assorted goods worth millions of naira have been destroyed by fire at Kure ultra-Mordern market in Minna, Niger state.

The source of the fire which started at about ten o’clock in the night is yet to be ascertained.

Nigeria’s Efforts in the Gambia Commended
Following the return of peace and stability in the Gambia, the minister of foreign affairs Geoffrey 0nyeama says setting up a bilateral joint commission with the Gambia is being considered

The minister said this in a meeting with the high commissioner of Sierra Leone to Nigeria Afsatu Ebishola Kabba in Abuja

The high commissioner commended the ministry of foreign affairs for the role played in the prompt release of the kidnapped deputy high commission major general Claude nelson Williams.

NJC On Onnoghen
The national judicial council has recommended the renewal of Justice Walter Onnoghen’s tenure as acting chief justice of Nigeria which expires Tomorrow, Thursday 9th February.

The national judicial council meeting presided over by the deputy chairman of the NJC justice Tanko Muhammad made the recommendation pending the appointment of a substantive chief justice of Nigeria

Nigerian Professional Football League (NPFL)
As action resume today in the Nigerian professional football league young striker Sunday Faleye has emerged as the pick of Match day 6 in the Nigeria professional football league (NPFL) following his fine performance for 3sc.

Farley has been the standout player for the Oluyole warriors this season, especially when they play in front of their fans at the Lekan salami stadium in Ibadan.

The striker, was at Lagos-based free Stan’s Football academy, where he put in an eye-catching performance in his team’s game against highly-rated rivers united

Acting President Osinbajo on Religious Harmony
Acting president, prof. Yemi Osinbajo has identified hatred as the root cause of the various religious Crises in the country.

The acting president made the observation at the 14th biennial conference of the Pentecostal fellowship of Nigeria PFN holding in Benin City, Edo state.

PDP Receives Strategy Report
The people’s Democratic Party PDP says it is holding talks with seven other political parties to form alliance in the 2019 general elections. This is coming as the party is considering scrapping of indirect system of conducting primaries. Political correspondent

Senate Committee Meets FCT Minister
The senate committee on federal capital territory has given a directive for the FCT board of internal revenue to be constituted within the first quarter of 2017.

The resolution was made at the committee’s meeting with FCT minister, attorney general of the federation and chairman of the federal Inland Revenue service, on the status of the FCT board in tax collection matters.

Shehu of Borno Commends NTA
NTA Maiduguri zonal network center has been commended for operating effectively in an environment threatened by unwholesome activities of Boko Haram insurgents which led to wanton destruction of lives and property in the last six years.

Shehu of Borno Abubakar Umar Ibn Garbai El-Kanemi gave the commendation when director-general of the Nta Yakubu Ibn Mohammed paid homage on him at his palace in Maiduguri.

Surveyor General Budget Defense
The senate committee on works says appropriate legislative backing will be given to the office of the surveyor general of the federation to ensure proper mapping out of solid minerals and protect the landmass.

This was during the 2017 budget defense by the office of the surveyor general which is appealing for an upward review of its budget from three billion naira to four billion naira to enable the office establish forty eight additional continuous reference stations, produce more maps and the demarcation of international boundaries of the country.

Surveyor general of the federation Ebisinte Awudu explains that, the continuous response stations will ensure smooth operation in the aviation sector as well as monitor the movements of the earth plain to check earth tremors.

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