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Economy

Senate screens Buhari’s INEC REC nominees

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N143bn budget hike for federal roads, Amnesty, N’Assembly, others

The Senate, on Wednesday, began the screening of the 27 persons nominated by President Muhammadu Buhari as Resident Election Commissioners (REC) of the Independent National Electoral Commission (INEC).

The screening came seven weeks after the lawmakers suspended the consideration of the nominations in protest.

The Senate had on March 28, 2017, suspended the consideration for two weeks to protest against the retention of Mr. Ibrahim Magu as Acting Chairman of the Economic and Financial Crimes Commission despite the rejection of his appointment by the legislature.

The ultimatum had expired on April 11, 2017, but the matter was not raised in the Senate chamber until May 2, 2017, when the lawmakers considered Buhari’s request for legislative approval on the nominations.

While the appointment of some RECs are new, others are reappointments.

Those for new appointments are Prof. Godswill Obioma (Abia), Ibrahim Abdullahi (Adamawa), James Apam (Benue), Nwachukwu Orji (Ebonyi), Iloh Valentine (Enugu), Asmau Maikudi (Katsina), Mahmuda Isa (Kebbi), Prof. Samuel Egwu (Kogi), Prof. Mustapha Zubairu (Niger), Agboke Mutiu (Ogun), Abdul-Ganiyu Olayinka (Oyo) and Prof. Riskuwa Shehu (Sokoto).

Others are Ahmad Mahmud (Zamfara), Nentewa Yilwatda (Plateau), Umar Ibrahim (Taraba), Emeka Ononamadu (Imo), Obo Effanga (Cross River), Prof. Francis Ezeonu (Anambra) and Briyia Frankland (Bayelsa).

Those for reappointment are Ahmad Makama (Bauchi), Mike Igini (Delta), Hussaini Pai (FCT), Sadiq Musa (Kaduna), Jibrin Zarewa (Kano), Rufus Akeju (Lagos), Sam Olumekun (Ondo) and Kasim Geidam (Yobe).

At the screening exercise on Wednesday, the Special Adviser to the President on National Assembly (Senate), Senator Ita Enang, formally presented the nominees to the Senate Committee on INEC for screening.

In the meantime, some key federal road projects are to benefit from the over N143bn added to the 2017 budget size by the National Assembly, The PUNCH learnt on Wednesday.

Also to benefit from the increase is the Presidential Amnesty Programme for the Niger Delta.

The National Assembly itself, among other sub-heads in the budget, will benefit from the increase.

The budget, which now has a new size of N7.441tn, will possibly be passed by the National Assembly on Thursday (today).

The original proposal by President Muhammadu Buhari was N7.298tn.

Findings by The PUNCH showed that while the original proposal for the Amnesty Programme by Buhari was N65bn, the new figure would be N75bn, as a result of N10bn said to have been added to it by the National Assembly.

One official explained the reason, “The Amnesty Programme got additional funding in the region of N10bn.

“This is to ensure steady funding of the programme and maintain the current relative peace in the Niger Delta.

“Also, there are some federal roads we consider to be very important.

“They cut across the various zones of the country. We added money there to pay contractors who have already generated certificates.”

The official added, “There are other additions like the National Assembly too, which will get additional N10bn.

“For so many years, the budget of the legislature remained the same. It was on N150bn for many years up to 2014.

“It went down first to N120bn and later N115bn, while the operations of the National Assembly and its organs have continued to multiply over the same period.

“It was considered necessary to raise the figure a bit in view of the fluctuations in the value of the naira.”

The difference of N143bn in the budget size came to light on Tuesday when the House Committee on Appropriation submitted its report to the House in Abuja.

The report was laid by the Chairman of the committee, Mr. Mustapha Bala-Dawaki, at the session, which was presided over by the Speaker, Mr. Yakubu Dogara.

The highlights of the report show that N434.412bn will go to statutory transfers, while another N1.841tn is set aside for debt servicing.

The sum of N177.460bn was recommended for “sinking fund for maturing bonds.”

The recurrent expenditure captured in the new report is N2.990tn.

In Buhari’s initial proposal, recurrent expenditure was N2.98tn.

The capital component in the new report is N2.174tn as against the N2.24tn presented by Buhari.

Meanwhile, Dogara and his colleagues went into a closed-door meeting on Wednesday to discuss the budget.

The session, which lasted for about 45 minutes, reportedly focussed on the need for lawmakers to cooperate with the executive arm of government by passing the budget.

“A lot meetings were held between Mr. President; the Senate President, Bukola Saraki; Dogara and other top officials of government preceding the budget.

“It is expected that there will be no more friction between the two sides,” one source told The PUNCH.

When contacted for comments, the Chairman, House Committee on Media and Public Affairs, Mr. Abdulrazak Namdas, simply said the meeting reviewed the budget and other legislative activities.

“We are passing the budget tomorrow (Thursday); so, it was just a normal meeting to share ideas on the budget,” he stated.

This year’s budget has suffered delays right from last year when the President presented the estimates in December.

Ministries, Departments and Agencies of government later compounded the problem when they started appearing before National Assembly committees for budget defence without the details.

At some point, the heads of several agencies were turned away by lawmakers for failing to supply the details of their proposals.

As of March, some agencies were still defending their budget, while the Nigeria Customs Service only concluded its defence on Wednesday, last week.

But the Chairman, Senate Committee on Media and Public Affairs, Senator Aliyu Sabi-Abdullahi, declined to explain the reasons why the budget of the National Assembly was jacked up in the 2017 Appropriation Bill.

He said Nigerians would get the details when the bill was passed on Thursday (today).

Speaking with The PUNCH on Wednesday, Sabi-Abdullahi stated, “As far as I’m concerned, until tomorrow when the budget is discussed, I’m not in the position to comment on it. I don’t know what it is until tomorrow. I can’t comment on what I don’t know.”

When the Senate spokesman was reminded that he should have the answer as a member of the Committee on Appropriation, he said, “I am somebody who believes so much in protocol and due process. Tomorrow, when the budget is open to discussion, everything will be there.”

Citizen with additional report from Punch

Economy

May Day: We’ll Not Delay Action On New Minimum Wage – Makinde

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May Day: We’ll not delay action on new minimum wage – Makinde

…As FG approves salary increase for civil servants 

Gov. Seyi Makinde of Oyo State has assured workers that his administration will not delay in implementing the new minimum wage.

Makinde gave the assurance on Wednesday in his address at the 2024 May Day celebrations, held at Lekan Salami Sports Complex, Ibadan.

The governor, who was represented by his deputy, Mr Bayo Lawal, said notwithstanding the new minimum wage, his government will not fail in its promise of ensuring payment of salaries and pensions on or before the 25th of every month.

He said that his administration had been responsive to the welfare of workers, adding that it had also put people at the heart of its policies and programmes.

Acknowledging the importance of labour in the policies, programmes and projects aimed at ensuring the development of the state, Makinde commended the workers for ensuring an atmosphere devoid of incessant industrial actions.

He noted that the cooperation between his government and labour had contributed immensely to the existing development and peaceful atmosphere in the state.

He urged the workers to reciprocate his administration’s good gesture by being more dedicated and committed.

The governor also enjoined them to work ‘tirelessly and vigorously’ for their future.

 The Federal Government has approved 25 per cent and 35 per cent of salary increases for civil servants on the remaining six Consolidated Salary Structures.

The Head of Press, National Salaries, Incomes and Wages Commission (NSIWC), Mr Emmanuel Njoku, said this on Tuesday in Abuja.

“The Federal Government has approved an increase of between 25 per cent and 35 per cent in salary increase for Civil Servants on the remaining six Consolidated Salary Structures.

” They include Consolidated Public Service Salary Structure (CONPSS), Consolidated Research and Allied Institutions Salary Structure (CONRAISS) and Consolidated Police Salary Structure (CONPOSS).

“Others are Consolidated Para-military Salary Structure (CONPASS).
Consolidated Intelligence Community Salary Structure (CONICCS) and Consolidated Armed Forces Salary Structure (CONAFSS).

“The increases will take effect from January 1,” he said.

According to Njoku, the Federal Government has also approved increases in pension of between 20 per cent and 28 per cent for pensioners on the Defined Benefits Scheme.

He said this was in respect of the above-mentioned six consolidated salary structures and would also take effect from January 1.

He said the move was in line with the provisions of Section 173(3) of the 1999 Constitution of the Federal Republic of Nigeria (as amended).

The official recalled that those in the Tertiary Education and Health Sectors had already received their increases.

“This involves Consolidated University Academic Salary Structure (CONUASS) and Consolidated Tertiary Institutions Salary Structure (CONTISS) for universities.

“For Polytechnics and Colleges of Education, it involves the Consolidated Polytechnics and Colleges of Education Academic Staff Salary Structure (CONPCASS) and Consolidated Tertiary Educational Institutions Salary Structure (CONTEDISS).

” The Health Sector also benefitted through the Consolidated Medical Salary Structure (CONMESS) and Consolidated Health Sector Salary Structure (CONHESS),” Njoku said.

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Electricity: NLC, TUC Condemn Higher Tariff For Non-existent Electricity

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Electricity: NLC, TUC Condemn Higher Tariff For Non-existent Electricity

…Insist Estimated billing is an extortion and a daylight robbery against Nigerians

The  Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC),  have appealed to the  Nigerian Electricity Regulatory Commission (NERC) and Power Sector operators,  to reverse the increase in electricity tariff within one week.

President of the unions, Mr Joe Ajaero and Mr Fetus Osifo made the call on Wednesday in a joint speech to mark the  2024 Workers’ Day in Abuja.

The duo expressed dissatisfaction over the epileptic power situation in the country which is affecting the economic growth of the country.

According to them, it’s imperative that any nation incapable of effectively and efficiently managing its energy resources faces certain ruin.

“One of the pivotal factors constraining our nation is our glaring incompetence in managing this sector for the collective welfare of our citizens.

“Power, regardless of its source, remains paramount in Kickstarting any economy, while oil and gas are indispensable for robust energy success in every country. “

They said it was absolutely critical for the government to collaborate with the people to establish frameworks that ensure energy works for all Nigerians.

According to the duo, the plight of the power sector remains unchanged over a decade after the privatisation of the sector.

“The reasons are glaringly evident. As long as those who sold the companies remain the buyers, Nigerians will continue to face formidable challenges in the power sector.

” It is unethical to force Nigerians to pay higher tariffs for non-existent electricity.

“Estimated billing is an extortion and a daylight robbery against Nigerians, ” the duo said.

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Economy

Naira Rebounds, Gains N28.15 Against Dollar Weakly Trading At N1,390.96 

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Naira Rebounds, Gains N28.15 Against Dollar Weakly Trading At N1,390.96 

The Naira on Tuesday closed the month of April on a good footing as it gained N28.15 at the official market, trading at N1,390.96 to the dollar.

Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the gain represented a 1.98 per cent appreciation for Naira.

The percentage increase is significant when compared to the previous trading date on Monday, April 29.

The local currency experienced about two weeks of steady fall by exchanging at N1,419 to a dollar.

The success story was replicated in the volume of currency traded, as the total daily turnover increased.

The daily turnover stood at 225.36 million dollars on Tuesday up from 147.83 million dollars recorded on Monday.

Meanwhile, at the Investor’s and Exporter’s (I&E) window, the Naira traded between N1,450 and N1,200 against the dollar. 

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