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  The Oyo State House of Assembly on Tuesday approved three hundred and fifty-two billion, two hundred and eighty-two million, five hundred thousand naira only (#352,282,500,00) 2023 Supplementary Budget presented to the legislature by the State Governor, Engr. Seyi Makinde. The supplementary budget was passed after the presentation of the House Committee report on Finance, Appropriation and Economy. The Committee had considered the inputs of the State Ministry of Budget and Economic Planning and projections in the Oyo State Government Medium Term Expenditure Framework before the eventual passage of the 2023 Supplementary Budget. The Governor had sought upward review of the 2023 approved budget from #310,432,500.00 to #352,282,500.00. This became imperative in order to cater for the twin policy measures of the removal of subsidy on Premium Motor Spirit and the floating of the exchange rates by the Federal Government on the State Government spendings. In the supplementary budget, a sum

  Former President Muhammadu Buhari has defended the naira redesign policy that his administration introduced at a time when the nation was heading into general elections, saying that it was meant to show Nigerians that there can be no shortcut to power. The policy implemented by the Central Bank of Nigeria (CBN) under its then governor, Godwin Emefiele, was seen by many Nigerians to have engendered hardship due to the scarcity of currency. In his first interview since leaving office, which aired on Monday night on the Nigerian Television Authority (NTA), Buhari said: “The motivation is to try and make Nigerians believe that there is no shortcut to successful leadership in the sense that service is not easy, as I said after three attempts and ending up in the Supreme Court.” Asked why he initiated the policy at election time, Buhari responded: “Nigeria, believe it or not, we’re an underdeveloped country. We get so impressed by our material things and sometimes ruthlessly don’t care how

  Nigeria’s former president, Chief Olusegun Obasanjo, said his party, the Peoples Democratic Party (PDP), lost the 1998 local government election in Ogun State because he vehemently rejected plans to bribe officials of the Independent National Electoral Commission (INEC) and the police. He recalled this while speaking at a high-level consultation he organised on ‘Rethinking Western Liberal Democracy in Africa’, held on Monday in Abeokuta. The former president said he rejected the proposal on the belief that INEC officials and policemen are government workers earning salaries monthly    Obasanjo said he was not an advocate of the slang “Nigerian Factor”, hence his refusal to subscribe to bribing the police and INEC officials. He said, “When things go wrong, you blame the Nigerian factor. The first thing I learned in politics was this thing I called the Nigerian factor. In 1998, we had the first local government election. We had parties, and here in Abeokuta, we met in my office and the

  Advertisement The service chiefs and the Inspector General of Police (IGP), Kayode Egbetokun, are before the House of Representatives. The service chiefs include the Chief of Defence Staff (CDS), General Christopher Musa; Chief of Army Staff (COAS), Lt-General Taoreed Lagbaja; Chief of Air Staff (CAS), Air Marshal Hassan Abubakar, and Chief of Naval Staff (CNS), Vice Admiral Emmanuel Ogalla. They were ushered into the green chamber for the security sectoral debate around 11:26 am. This comes after last Thursday’s criticism of the security heads by the lawmakers for sending representatives, who were rejected Before the executive session, the service chiefs and IGP took turns outlining the various efforts being made to address the security situation in the country. The Chief of Naval Staff, Vice Admiral Emmanuel Ogalla, requested that the National Assembly intervene in enhancing surveillance to cover the backwaters, creeks, and other areas behind the coastline. According to him, if thi

  The Minister of Finance and Coordinating Minister of the Economy, Wale Edun has disclosed that the Federation Account has witnessed improved revenue inflow since the removal of fuel subsidy from an average of N650 billion monthly to over N1 trillion in the last four months. The Minister said this on Monday at the opening ceremony of a two-day retreat for Federal Account Allocation Committee (FAAC) organised by the Federal Ministry of Finance in collaboration with Delta State Government, with the theme, “Creating Resilient Economy through Diversification of the Nation’s Revenue”. Edun who was represented by the Permanent Secretary Finance, Okokon Ekanem Udo, stated that the choice of the retreat’s theme reflects the directive given by President Bola Ahmed Tinubu’s administration to domestic revenue mobilisation and very timely. Stephen Kilebi Director (Press and Public Relations) in a statement said the retreat is holding at the Dome Event Centre, Asaba, Delta. The Minister said that