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Senate passes N199B FCT 2020 budget

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Senate passes N199B FCT 2020 budget 

The Senate wednesday passed the sum of N199, 240,531,350.00 as the revised budget of the Federal Capital Territory (FCT) for the year 2020. 
A break down analysis showsthe N199billion FCT revised budget represents a 32 per cent reduction of its 2020 statutory Appropriation Act figure of N278,355,365,947.00.
The approval of the FCT revised budget by the Senate followed the presentation of the report of Senate Committee on FCT by its Chairman, Senator Abubakar Kyari,  titled: “Harmonized report of the 2020 Federal Capital Territory (FCT) Appropriation Act (Repeal and Re-enactment) Bill, 2020.”
Kyari in his presentation, noted that “the adverse impact of the COVID-19 pandemic in the accrued revenue of the FCT Administration compelled the need to expend resources on containment and management as well as intervention to cushion the effect of the harsh economic impact of COVID-19.”
He noted that the review of the 2020 statutory Appropriation Act of FCT was done to cater for expenditures that were not anticipated when the initial FCT 2020 Statutory Appropriation was passed.
He said that the Capital Expenditure items were generally reviewed downwards by 50 per cent.
He said that the personnel cost of the FCT in the revised 2020 budget is now N63,620,646,865.00, capital expenditure of N80,225,923,400.00 and Overhead cost of N55,393,961,085.00.
Kyari observed that the fiscal framework for the revised 2020 statutory appropriation showed actual receipts of January to August, 2020.
He added: “Actual monthly receipts from January to December 2020 would therefore increase proportionately by three months, including the months of October to December 2020.
“The Committees consequently increased the Fiscal Framework in the Statutory Revenue Allocation and Value Added Tax, thus bringing the total expenditure to N199,240,531,350.00 only.”END

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Legislature

Senate commences public hearing on PIB to achieve assent by May 29 of this year

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Senate commences public hearing on PIB to achieve assent by May 29 of this year

After over 20 years of back and forth in efforts to pass the Petroleum Industry Bill
President of the Senate, Ahmad Lawan, has said they are working to ensure that the Petroleum Industry Bill (PIB) presently before the National Assembly is passed by April and President Muhammadu Buhari assents to it by May 29th of this year.

He said it is to ensure that Nigerians benefit optimally from crude oil production and sale of fossil fuel reserves. 

Lawan stated this on Monday while declaring open a 2-day public hearing on the bill by the National Assembly. 

According to the Senate President, the National Assembly in its consideration of the piece of legislation, would ensure that the bill when passed into law, guarantees improved revenue earnings for the country. 

Lawan said, “let me say this, we (National Assembly) will pass this bill not without ensuring that it is a bill that satisfies certain conditions. 

“Nigeria is blessed with these resources, we want Nigeria to benefit optimally from them. In fact, we are in a hurry because we have lost so many years of benefits that we could have had.” 

The Senate President, however, noted that the non-passage of the PIB had been a major drag on the industry over the years, significantly limiting its ability to attract both local and foreign capital at a time when many other countries are scrambling to exploit their oil and gas resources. 

“The mere knowledge that the nation’s oil industry is still being governed by laws enacted more than 50 years ago is ludicrous and extremely disappointing.

“As legislators, we will strive to deliver a Bill that will enhance the growth of our oil and gas industry, modernize our fiscal system and enhance competitiveness, while creating harmony for all stakeholders. This is a promise we have made and that we shall achieve.

“Nigeria must have an Oil and Gas Industry that benefits its people. Equally, our Oil and Gas Industry must be competitive. We must create a sustainable investment climate, where business in the sector will flourish,” he said.

He added that the determination by the legislature to pass the Bill “is driven by the need to overhaul a system that has refused to operate optimally in line with global standards, resulting into loss of continental competiveness, transparency, accountability, good governance and economy loss for the petroleum industry and the country.”

The Senate President noted that the challenges surrounding the future usefulness of petroleum resources and the increased level of uncertainty on oil demand calls for great concern. 

“It is estimated that with the evolving of new technologies, fossil fuel may be less attractive if not of no value in the next 20 years. 

“It is therefore time for us to make maximum benefit of our fossil fuel reserves through this reform before it fades away,”Lawan stressed. 

According to him, the Petroleum Industry Bill comprises of 4 chapters that outline how to create efficient and effective governing institutions with clear and separate roles for the petroleum industry; establish a framework for the creation of a commercially oriented and profit-driven National Petroleum Company; promote transparency, good governance and accountability in the administration of the petroleum resources of Nigeria among others;

He added that the piece of legislation among others, also seeks to promote the exploration and exploitation of petroleum resources in Nigeria for the benefit of the Nigerian people; promote the efficient, effective and sustainable development of the petroleum industry;

According to him, the PIB upon passage and assent into law by the President, would “foster sustainable prosperity within host communities, provide direct social and economic benefits from petroleum operations to host communities; create a framework to support the development of host communities among others; and

“Establish a progressive fiscal framework that encourages investment in the Nigerian Petroleum Industry, balancing rewards with risk and enhancing revenues to the Federal Government of Nigeria; provide a forward-looking fiscal framework that is based on core principles of clarity, dynamism and fiscal rules of general application; establish a fiscal framework that expands the revenue base of the Federal Government, while ensuring a fair return for investors.”

Lawan assured that the National Assembly during the public hearing would deal with all issues relating to the oil and gas industry with thoroughness and effectiveness, so as to avert colossal losses to the nation’s economy.

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Legislature

NASS postpones resumption over APC membership registration.

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NASS postpones resumption over APC membership registration.

The administrative management of the national assembly has announced the postponement of resumption of members of the two chambers that was billed for Tuesday 26th January 2021 till the 9th of February, 2021.

This was contained in a statement that was signed by the clerk of the national Assembly Ojo Olatunde Amos.
The national Assembly had vacated for the Yuletide/new year breake on the 21st of December to reconvene on the 26th of January, 2021.
The statement indicated that the postponement is to enable APC caucus in the national assembly take active part in the membership registration and revalidation that will commence on Monday, 25th January, 2021.
The statement reads, “This is to inform all distinguished senators and Honorable members of the national Assembly that the resumption of plenary earlier scheduled for Tuesday, 26th January, 2021is hereby rescheduled for Tuesday 9th, February, 2021.
“This postponement is to enable members of the All Progressives Congress (APC) participate in the registration and revalidation of its membership, scheduled to commence on Monday, 25th, January  2021.
The clerck expressed regrets for any inconviniences that change in date may have caused all and sundry.





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Legislature

Niger Assembly declares support for Medical Varsity Bill

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Niger Assembly declares support for Medical Varsity Bill

Ahead of the public hearing at the House of Representatives, the Niger State House of Assembly on Thursday threw its weight behind the Bill for an Act to Establish Federal University of Medicine and Health Sciences in Bida, Niger State.

The Speaker, Niger State House of Assembly, Hon. Barrister Abdullahi Bawa Wuse gave the indicatio in Minna when the State Lawmakers hosted the Member representing Bida/Gbako/Katcha Federal Constituency, Hon. Saidu Musa Abdullahi SMA (Gorozon Nupe) who was on a visit in furtherance of stakeholders’ engagement on the Bill.

The Speaker said he was “delighted with the Lawmaker for understanding the need for institutional collaborations which is healthy to the progress of the State”.

According to Bawa Wuse “we will go out as a State to get this University established here. Having University to run Medicine and related Courses in Niger State is long overdue”.

Addressing the State House of Assembly, Hon. Saidu said “the University. When established, will provide more opportunities and fair chance for Nigerians seeking to pursue a career in the medical sciences and most importantly address medical workforce shortfall in the country. It is a pan Nigerian project but more of Niger State”.

“Today, the number of Nigerian Students seeking admission to study medicine in particular and health sciences in general is on the increase but unfortunately, a significant percentage of them usually fail in getting admission not because they do not possess the required qualification but because those tertiary institutions do not have the capacity to accommodate them.

“It may interest you to know that Niger State is the only State in the North-Central Nigeria that has no degree awarding institutions in medicine and health sciences neither at Private nor public arrangement levels”.

Members from Gbako, Bida II, Suleja, Agwara and Chanchaga, all contributed brilliantly in support of the Bill.

After various contributions from the Lawmakers in favour of the Bill, the Speaker, Hon. Abdullahi Bawa Wuse constituted a Committee Chaired by the Member representing Agwara with a clear time of reference to prepare a position paper that will be presented at the Public Hearing in support of the bill.

The Speaker also said the 27 House of Assembly Members of Niger State will attend the Public Hearing.

Member representing Chanchaga, Hon. Ahmed Marafa Guni pledged to foot the bill for the transportation of all the Members of the State Assembly to and from the Public Hearing.

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