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Buhari signs N17tn 2022 budget into law, laments ‘worrisome changes

FILE: From left: Vice President Yemi Osinbajo; the President, Major General Muhammadu Buhari (retd.); and the Senate President, Ahmad Lawan

The President, Major General Muhammadu Buhari (retd.), Friday in Abuja signed into law the 2022 Appropriation Bill and the 2021 Finance Bill.

The President signed the documents in the Presidential Villa in the presence of Senate President Ahmed Lawan, Speaker of the House of Representatives, Femi Gbajabiamila, and other members of the Federal Executive Council.

Speaking at the event, the President said the 2022 Budget, just signed into law, provides for aggregate expenditures of N17.127 trillion, an increase of N735.85 billion over the initial Executive Proposal for a total expenditure of N16.391 trillion.

The President explained that N186.53 billion of the increase however came from additional critical expenditures that he had authorised the Minister of Finance, Budget, and National Planning to forward to the National Assembly.

‘‘The Minister will provide the public with the details of the budget as passed by the National Assembly, and signed into law by me,’’ he said.

President laments ‘worrisome changes’

Buhari also expressed strong reservations on the ‘‘worrisome changes’’ made by the National Assembly to the 2022 Executive Budget proposal, according to a statement by the Senior Special Assistant to the President (Media & Publicity), Garba Shehu, on Friday.

National Assembly with a request for amendment as soon as the Assembly resumes to ensure that critical ongoing projects cardinal to this regime do not suffer a setback due to reduced funding.

The President recounted that during the presentation of the 2022 Appropriation Bill, he had stated that the fiscal year 2022 would be very crucial in his administration’s efforts to complete and put to use critical agenda projects, as well as improve the general living conditions of our people.

‘‘It is in this regard that I must express my reservations about many of the changes that the National Assembly has made to the 2022 Executive Budget proposal.

‘‘Some of the worrisome changes are as follows:

Increase in projected FGN Independent Revenue by N400 billion, the justification for which is yet to be provided to the Executive:

‘‘Reduction in the provision for Sinking Fund to Retire Maturing Bonds by N22 billion without any explanation;

‘‘Reduction of the provisions for the Non-Regular Allowances of the Nigerian Police Force and the Nigerian Navy by N15 billion and N5 billion respectively

‘‘This is particularly worrisome because personnel cost provisions are based on agencies’ nominal roll and approved salaries/allowances;

‘‘Furthermore, an increase of N21.72 billion in the Overhead budgets of some MDAs, while the sum of N1.96 billion was cut from the provision for some MDAs without apparent justification;

‘‘Increase in the provision for Capital spending (excluding Capital share in Statutory Transfer) by a net amount of N575.63 billion, from N4.89 trillion to N5.47 trillion.’’

President Buhari also expressed concern in the reductions in provisions for some critical projects, including N12.6 billion in the Ministry of Transport’s budget for the ongoing Rail Modernisation projects; N25.8 billion from Power Sector Reform Programme under the Ministry of Finance, Budget and National Planning; N14.5 billion from several projects of the Ministry of Agriculture, and introducing over 1,500 new projects into the budgets of this Ministry and its agencies

Messi Continues To Generate Income For Barcelona

 Nigerianewslite

It’s been a couple of months since Lionel Messi departed FC Barcelona. However, the Spanish club continues to be connected with the Argentine forward through the financial side. 

According to AS, Barcelona still sells items related to Messi in its shops. For example, a signed captain’s armband sold for €643.5, a 2020-21 season jersey signed by Messi sold for €1,170, and even a jersey signed by Xavi Hernandez, Andrés Iniesta, and Messi at the cost of €2,950.

The official Barcelona store also continues to use the image of Messi in conjunction with that of other culés legends; such is the case of a kit from the 2013-14 season signed by the Argentine star, Xavi Hernández, and Iniesta. In this case, the price of the garment shoots up to €2,950

Messi left this past summer after Barcelona couldn’t afford to fit his contract under the La Liga wage salary cap. As a result, they had to part ways with their club legend. 

Nonetheless, the Argentine still ‘continues playing’ for Barca and helping his former team generate extra-sports income thanks to exploiting his image.

 Sport

EPL: Guardiola singles out two Super Eagles players after Man City defeat Leicester 6-3

Manchester City manager, Pep Guardiola has hailed the Nigerian duo Kelechi Iheanacho and Ademola Lookman after their performances in Sunday’s Premier League clash.

City almost threw away a four-goal lead against Leicester, but went on to win 6-3 at the Etihad.

On Iheanacho’s return to Brendan Rodgers’ starting XI, he scored a goal and assisted two – one of which was Lookman’s.

Aside from his goal, Lookman’s runs kept the City backline in check. The former Everton star had five successful dribbles and won more than half of his duels.

Guardiola has now singled out the two Super Eagles forwards for their displays against his side.

They have big quality in transition, and then they changed shape,” Guardiola said after the game.

“Vestergaard is an excellent player, and when Tielemans and Maddison can play, they have lots of quality, with Kelechi and Lookman too.”

MERRY CHRISTMAS TO YOU 💕

 Nigerianewslite

MERRY CHRISTMAS TO YOU 💕

Am happy we made it together,many struggled to achieve one thing or the other, to meet up with one target or the other but they are not alive today to tell the story..

But you and I are alive in good health..., Happily... Cheerfully...

So ,it's a thing to thank God for.

MERRY CHRISTMAS TO YOU 💕

 

IMF borrowed from Nigeria in 1974 — Former Finance Minister

By Abdallah el-Kurebe

Sokoto — Minis- ter of Finance in the Second Republic, Alhaji Abubakar Alhaji, said yesterday the International Monetary Fund, IMF, borrowed money from Nigeria in 1974.

Alhaji, who revealed this when Senator Shehu Sani paid him a private visit in his residence in Sokoto, said he signed the loan agreement when he was Permanent Secretary at the Federal Ministry of Finance.

IMF

The former Finance Minister, who did not disclose the amount involved, said:  “I weep for Nigeria for what it has become today. The country has vast resources that if well harnessed, could lead the country     to greater heights.

’In 1974 when I was permanent secretary at the Federal Ministry of Finance, the IMF approached us for a loan. I signed the agreement on behalf of Nigeria. Unfortunately, today expenses of government have driven us into recession,’’ he said.

He added that Nigeria’s over-dependence on oil was the result of the economic problems the nation was plunged into.

He said: “Aside from oil and agriculture, Nigeria had industries that were earning foreign exchange for it. Agriculture and the industries were allowed to recede and when global fuel prices crashed, we are nowhere today.”

Alhaji further noted that the present 36 states were too many and had bred corruption, noting that government’s expenditure was on the high side.

He said:  “The more states we have, the more corruption there is. We should have between six and twelve states. We should cut our coat according to our size.”

On the Biafran agitation, the former Minister said Nigeria should remain united, noting “there is nothing better for us than a united Nigeria. We have potentials that could be harnessed and enjoyed together.”

 

Mourinho’s hand in Nigeria’s new foreign coach

https://www.5iphon.com/joinfree.php?ref=96390

The Nigeria Football Federation will soon announce the appointment of a new foreign coach for the Super Eagles. The announcement could be made before the impending Africa Cup of Nations billed for Cameroon in January.

The new coach, whose identity is still being kept under wraps, was recommended to Nigeria by one of the best and most popular coaches in the world, Jose Mourinho.

Sports Nigerianewslite exclusively gathered that in his bid to get the best tactician for Nigeria, Pinnick who has never hidden his lack of confidence in Nigerian coaches, went in search of a capable hand who would replace sacked Gernot Rohr.

Our source informed that due to the backlash that followed Rohr’s poor performance with the Eagles, Pinnick didn’t want to take anything for granted, in his search for Rohr’s replacement.

“The NFF boss went as far as meeting with many respected names including the former Chelsea coach, Jose Mourinho to assist him in getting a good coach for Nigeria,” our source said.

“The speed and precision with which the NFF applied in securing a new coach could not have been possible without the role played by the ‘Special One’.”

Our source said the NFF President is not leaving anything to chance in his bid to ensure Nigeria’s flag is flown in Qatar 2022. “Qualification to the 2022 World Cup is top priority for NFF president Amaju Pinnick,” he said.

Pinnick, himself said as much when he explained that Rohr was booted out to avoid a “disaster”, which will actually be failure to feature at Qatar 2022 that will guarantee millions of US Dollars to the country.

Although the new coach is expected to be named before the AFCON, he is expected to be in Cameroon as a spectator. “He is expected to have a first hand knowledge of the team from the background while interim coach Austin Eguavoen pilots the campaign for Nigeria’s fourth continental title,” our source added.

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