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CBN Resumes Agric Funding With ₦‎100 Billion – Agriculture

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The Central Bank of Nigeria (CBN) has resumed its funding intervention for agriculture sector apparently in response to the challenges of food security in the country.

The apex bank has earmarked N100 billion to purchase 2.5 million bags of fertilizers for distribution to farmers.

The Governor of the CBN, Mr. Olayemi Cardoso, said that the investment in agriculture would increase food production and reduce inflation, currently at 29. 9 percent.

Speaking during the fertilizer handover event at the Ministry of Agriculture and Food Security yesterday, he said, “As we are all well aware, the Central Bank of Nigeria significantly emphasises maintaining price stability as one of its primary mandates.

“Food prices are a crucial component of inflation, especially considering that a substantial portion of household expenditure in Nigeria is allocated towards food and non-alcoholic beverages.

“This reinforces the critical need to address food inflation as a pivotal aspect of managing overall headline inflation rates. While the CBN has been implementing comprehensive measures to curb inflation, it is evident that in the short term, inflationary pressures may persist, predominantly driven by escalating food prices.

“This is precisely why we convened today- to strengthen our collaboration with the Ministry of Agriculture to mitigate the surge in food prices. “In alignment with our strategic shift towards focusing on our fundamental mandate, the CBN has veered away from direct quasi-fiscal interventions and transitioned towards leveraging conventional monetary policy tools for executing monetary policies effectively.

“In this light, we aim to extend our support and foster closer ties with Ministries, Departments, and Agencies (MDAs) with the mandate and expertise to undertake these critical initiatives.

“Consequently, we aim to enhance our partnership with the Ministry of Agriculture, bolstering your endeavours to enhance food productivity and security, ultimately curbing food inflation and fortifying our pursuit of price stability.

“In pursuit of these shared goals, we are delighted to announce the allocation of 2.15 million bags of fertiliser, valued at over 100 billion Naira, which we humbly hand over to the Ministry of Agriculture and Food Security. This contribution from the Central Bank aims to amplify food production capabilities and foster price stabilization within the agricultural sector.”

Civil Servants Demand N907,000 Minimum Wage, Give Reasons

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Public officers on the platform of the Nigeria Civil Service Union (NCSU) are demanded the sum of N904,000 only as the new minimum wage.

The NCSU noted that it’s decision was in line with the demand of the Nigeria Labour Congress (NLC) during the zonal meetings with the Tripartite Committee of the Minimum Wage, where it had proposed about N907,000 as the new minimum wage.

The civil servants have also said that the federal government lacks the ideas on how to tackle the numerous economic challenges facing the country.

Speaking at a meeting of the union in Abuja, the Federal Council chairman, Comrade Adoga Gupada Aruwa, alleged that Nigeria is at the mercy of the foreign agencies like the International Monetary Fund, IMF whose policies are said to be anti-people.

“I must inform you that our dear country is faced with a lot of challenges. The most vital of these challenges is economic challenge. You will agree with me that our government has no concrete idea on how to solve these challenges,” he said.

“We seem to be at the mercy of international agencies who are trying to direct our economic affairs such as the IMF. This of course, may bring about job losses.”

Comrade Aruwa called for unity among workers, stressing that the times in the country required encouragement among members especially on issues outside their primary assignment.

He said, “Comrades, I don’t want us to be repeating ourselves in the area of insecurity because it appears that our government does not have any solution in sight. The consequence of this is that banditry will continue to thrive.”

“On the issue of minimum wage, he said that labour is looking forward to a living wage that will be more sustainable, insisting that N907,000 proposal by the NLC.

“On the National minimum wage, we’re no longer having the wage that can take us home. So, the NLC, TUC, and all the affiliates, we are on the same page in the struggle that government should increase our national minimum wage, so that we can meet up with the current challenges we’re facing as a result of high cost of living.

“The purpose of this meeting is to create awareness, sensitize our workers on the current happenings in the country. It is a constitutional meeting we normally convey twice in a year. This is the first of this year.”

Also speaking, the assistant general secretary of NSCU, Comrade Daniel Otakpo, said Nigerians are suffering as a result of the fuel subsidy removal adding that there was no adequate preparation put in place to caution the effect.

“In the first place you ask yourself how was the fuel subsidy removed by the President and Commander-in-Chief? We are aware that he was not quite prepared for the removal of the fuel subsidy because before fuel subsidies should be removed, you should have been put in place some programmes. No program was put in place, he just made an announcement thinking it will be as easy as he thinks,” he said.

Bagudu On Budget Padding: Insertions By National Assembly Legal – Minister

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The Minister of Budget and Economic Planning, Sen. Atiku Bagudu, has said that the National Assembly did not break any law with new insertions in the 2024 budget.

Bagudu, while speaking during a press briefing Thursday in Abuja, said since 1999, it has become a norm in the passing of appropriation for the National Assembly to insert new line items to provide some dedicated projects to their constituencies, which often leads to the rise in approved budget from what was presented by the president.

President of the Senate, Sen. Godswill Akpabio, has been in the eye of the storm following allegations that the senate padded N3.7 trillion into the approved budget, with the opposition Peoples Democratic Party (PDP) calling for his resignation.

Senator Abdul Ningi, representing Bauchi Central, who first raised the alarm over budget padding, was suspended for three months by the Senate.

But reacting to the reports, Bagudu said the new insertions did not violate any law because what the president presented to the National Assembly was a bill, but the budget passed with modifications was an act by the assembly.

He said, “The president submitted a budget to the tune of N27.5 trillion and the National Assembly, in its wisdom, increased it to N28.7 trillion. When we presented the budget, it was at an exchange rate of N750 to a dollar but the assembly increased it to N800 to a dollar. That created more revenue. The assembly also appropriated that the Government Owned Enterprises contribute more revenue. Then there was the increase of the budget of the judiciary, legislature and executive.

The president in signing the 2024 appropriation acknowledged that in democracy, institutions have their power and the National Assembly has the last word.

The evolution of constituency projects and projects by National Assembly members, which did not begin now but since 1999, is a reflection of the challenge that elected persons are facing.

“There has been a long debate and a former president went up to the Supreme Court to define the appropriation power of the executive and the National Assembly. Later, there was an out-of-court settlement. Till now, this issue has not been resolved. So, what is the power of the National Assembly as regards the budget? There is no Supreme Court judgment and the choice of our democracy is that the National Assembly has the last word. Even when they pass an appropriation that assent is refused, after 30 days it becomes law.

“Do they have the right to increase a budget line? I will say yes.”

He added that there has been a misconception on why budgets for agencies regarded as statutory transfers do not have line items of their budgets disclosed.

“These are transfers for agencies that are created by the constitution or legislation. So, they have the right to draw up their own budget. They can be supervised by a committee but it is not the federal government that appropriates for them; the most popular ones are the NJC, FCT, Tertiary Education Trust Fund, NEDC, NDDC and others,” he said.

Akpabio will not resign

Akpabio has also been backed by his colleagues as the Chairman Senate Committee on Media, Senator Yemi Adaramodu (APC, Ekiti South), has flayed PDP’s call for his resignation.

Adaramodu told newsmen yesterday in Abuja that Akpabio won’t resign because “He has not committed any wrong doing to warrant resignation.”

He said: “The PDP has elevated chicanery to statecraft and fatally failed in their sordid attempt to hoodwink the unsuspecting public on the ineffectual but spurious allegations of budget padding.

“The party’s ludicrous call for the resignation of Senator Godswill Akpabio as the Senate president is unthinkable and shows the party as a massaging balm for falsehood and immoral legislative outbursts.”

He said no amount of lies and fake allegations will distract the 10th Senate, under Akpabio, from delivering good legislation and effective oversight for Nigerians.

Some of us got over N200m – Ndume

Meanwhile, Senate Chief Whip, Ali Ndume, has admitted that 10 principal officers of the senate got over N200 million each for constituency projects in their senatorial districts.

Ndume was responding to allegations by Senator Jarigbe Agom-Jarigbe from Cross River North that some senators got about N500 million each from the 2024 budget.

Agom-Jarigbe had on Tuesday, during a stormy session in Abuja, made the startling disclosure while the lawmakers debated budget padding claims by Senator Ningi.

Speaking on Channels TV, Ndume admitted that he and other leaders of the 10th Senate got more than the N200 million allocations for constituency projects in the 2024 budget.

“My colleagues (floor members) know that I got more than them. All the senators have N200 million each as their constituency projects but I am a leader. That is the difference,” Ndume said.

“Ten of us are leaders including those in the opposition. We get more than the floor members. It’s normal… My colleagues know that I got more than them,” he said.

The current leaders of the 10th Senate are, Godswill Akpabio – Senate President; Jibrin Barau – Deputy Senate President; Opeyemi Bamidele – Senate Majority Leader; Ayelola Yisa Ashiru – Deputy Majority Leader; Ali Ndume – Chief Whip; Lola Ashiru – Deputy Whip; Abba Moro – Minority Leader; Kamorudeen Olarere – Deputy Minority Leader; Osita Ngwu– Minority Whip and Rufai Hanga – Deputy Minority Whip.

Atiku demands probe

Adding his voice to the debate, former Vice President Atiku Abubakar has demanded an “immediate and thorough” investigation into the budget padding allegation rocking the Senate.

Atiku, in a post via his verified Facebook page on Thursday, warned the Senate not to collude with the federal government and deprive the people of good governance, especially in view of the prevailing situation in the country.

This was as he also condemned the suspension of Senator Ningi, saying the suspension without investigation has only fueled the crisis.

The PDP presidential candidate in the last election said, “Over the past few days, allegations have rocked the Senate, questioning the very integrity of the 2024 Appropriation Act, the cornerstone of our nation’s annual planning and development.

“A fiscal policy analytics and advocacy organisation has unequivocally confirmed a disturbing lack of transparency within the 2024 Appropriation Act.

“Furthermore, the sudden suspension of the whistle-blower senator, without adequate explanation, has only fueled the crisis, leaving us with more questions than answers.

“I demand an immediate and thorough investigation into these allegations. Appropriation lies at the heart of governance, and any deviation from serving the people’s interests will be met with fierce opposition. Denials are unacceptable, and the suspension of one senator cannot silence accusations of corruption and illegal fiscal spending by the federal government.”

The former vice president said, “Without a clear explanation to the people of Nigeria, we must treat these allegations for what they are: outright fraud. The accusation of budget padding totaling N3 trillion cannot be dismissed lightly by the government.

“Given the current hardships facing our nation, a padded budget is already translating to a padded hunger, padded poverty, padded insecurity, padded energy crises, padded forex instability, and the soaring cost of living.

“The people of Nigeria cannot afford to ignore allegations that worsen our already dire economic situation.”

He said the National Assembly, as the elected representatives of the people, are constitutionally obligated to legislate for the peace, order and good governance of our nation, without colluding with corrupt elements.

“Failure to do so and persisting in denial will only confirm the government’s complicity in official malpractice,” he said.

President Tinubu Appoints Dennis Otuaro As New Amnesty Boss

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President Bola Tinubu has appointed Dr. Dennis Brutu Otuaro as Administrator of the Presidential Amnesty Programme.

Otuaro’s appointment was announced on Thursday night by the Special Adviser to the President (Media and Publicity) Chief Ajuri Ngelale.

Dr. Otuaro holds a PhD in Comparative Politics & Development Studies; an MSc in Public Administration, and a BSc in Education.

He had previously served as a top-level executive of the Niger Delta Development Commission (NDDC) with a surfeit of experience across multiple sectors, including infrastructure development, security, environmental remediation, as well as oil and gas.

According to Ngelale, President Tinubu “anticipates that the new Administrator will bring his requisite experience and know-how to this role to revamp the Amnesty Programme and advance the realization of its founding purpose and vision.”

Senator Ningi To Akpabio: Neither You Nor Me Can Control The Can Of Worms I’ve Opened

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Senator Abdul Ningi says the can of worms he opened in the Senate cannot be controlled.

The Senate slammed a 3-month suspension on Ningi, lawmaker representing Bauchi Central, over the allegations that N3.7 trillion was not traceable to any project in the 2024 budget.

The lawmaker made the claim in an interview he granted to BBC Hausa over the weekend.

Based on the wide interest generated by the issue, Ningi had addressed the media ahead of the next plenary sitting, saying although he was misrepresented in some quarters, he stood by what he said and was ready for any consequence.

Expectedly, when the upper legislative chamber sat on Tuesday, the issue was discussed as some of Ningi’s colleagues called for his suspension.

After Senator Olamilekan Adeola from Ogun West moved a motion for the issue to be discussed, the senate descended into chaos as Jarigbe Jarigbe, senator representing Cross River north, claimed that some “senior senators” got N500 million in the budget for constituency projects.

“Let us wash our dirty linen in public. If we want to go into those issues, all of us are culpable. Some senators here… so called ‘senior senators’… got N500 million each. I am a ranking senator, so I didn’t get. Did I go to the press?”

The discussion has dominated the media as many Nigerians have been asking their representatives at the senate to comment on the amount they got.

Speaking on the development when he featured as a guest on Arise TV after the suspension, Ningi claimed that members of the Senate were determined to get him silenced or arrested.

He said: “That is why I said I know this parliament very well, I have come a long way. And that is why we are speaking. Let’s speak. Have they ever asked me since the beginning of this so-called crisis, where are your findings? Where are the documents? I’m not using my head to come up with figures.

“Nobody has talked to me about evidence. Nobody has suggested even listening to me. All they are trying to do is to ensure that ‘how do we make sure that Ningi is silenced or arrested so that he doesn’t do anything?’. I have opened this can of worms. Neither they nor I will be able to control it.”

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FEC Allocates N759 Billion For Road Construction

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The Federal Executive Council, FEC, has given the green light for the allocation of N759 billion for the construction of roads linking Obajana to Benin and Isheri to Ogun.

The FEC gave its approval yesterday for the allocation of N873.23 billion towards implementing three projects nationwide under the jurisdiction of the Ministry of Works.

During a discussion with journalists at the State House in Abuja following the FEC meeting, Works M[b]inister Dave Umahi mentioned several projects, including the Obajana-Benin Road, Isheri-Ogun Road, and the Outer Marina Shoreline protection.
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The minister emphasized that the increase in cement prices is unrelated to the concrete road policy implemented by his ministry.

Umahi announced that funding has been allocated for various road projects, including additional funding for the Obajana-Benin dualisation project, the Isheri-Ogun Road, and the Outer Marina Shoreline protection.

He said: “Today we’ve got augmentation approved for Obajana in Lokoja to Benin Road, a total of 244 km and 489 km dualized. Recall that in 2012, this project was awarded to four contractors – CGC; Mothercat; Dantata & Sawoe and RCC at a total cost of N122 billion and that was for light rehabilitation.

“Around 2018, the past administration reviewed the project and dualised it and that’s why you have a total of 489 km and now got ‘No-Objection’ from the Bureau of Public Enterprise (BPP).

“When I came on board in August, we were supposed to present the ‘no-objection’ to FEC in line with due process and we decided to review the project, one, to determine whether the dualisation was desirable given the economic challenges and two, to see the texture of the soil and what to do.

“We had to restore the project now, but we didn’t increase the cost. We got approval for argumentation from N122 billion to N897 billion. The contractors were off-site because they would not be working and they would not be paid based on the new basic rate. We got them back to the site and today (yesterday) we got approval.”

“The Council also gave its approval for the allocation of N2.23 billion to the Federal Roads Maintenance Agency. This funding will be utilized to repair and maintain the road infrastructure connecting Isheri North to Ogun State.

“Now, under FERMA, we got approval for constructing Isheri North, Lagos route, which is to connect Ogun State. This is an alternative route to Lagos – Shagamu Road, and we will take this Lagos-Shagamu when completed. But by law, you only toll a federal road when you have an alternative.

“This approval of about N2.23 billion to connect Isheri North to Ogun State is a breakthrough that has freed the Lagos-Shagamu for tolling.”

10 States Paying Wage Award To Workers –

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*Ogun gives students, pupils, N50,000, N10,000

Not less than ten states are paying wage award to their workers, findings by The Nation have shown.

Lagos, Ekiti, Oyo, Osun, Ogun, Ondo, Enugu, Ebonyi, Adamawa and Jigawa are part of the 15 states surveyed by our correspondents yesterday.

Niger State yesterday approved payment of N20,000 each to its workers.

Following the withdrawal of petrol subsidy and the attendant pains, the Federal Government among other cushioning policies, began payment of N35,000 wage award to its workers. It has paid for five months.

On Monday, the President admonished governors, who had yet to pay the wage award to start, pending the conclusion of work by the Tripartite Committee on New Minimum Wage.

He made the appeal while inaugurating agricultural programmes initiated by Governor Umaru Bago in Minna, Niger State.

Since the removal of petrol subsidy, federal revenue has grown significantly. Last month, all the federating units shared over N1trillion.

Bago announced yesterday that workers in his state would from this month get N20,000 as wage award.

His Ogun counterpart, Dapo Abiodun, whose administration has been paying N10,000 monthly award to civil servants, added primary and secondary school pupils to the list.

About 100,000 indigent pupils are to receive N10,000 each from the government.

Payment of N50,000 to 20,000 students who are indigenes of the state in tertiary institutions will be completed this week.

Commissioner for Education, Science and Technology, Prof. Abayomi Arigbabu, who announced the plan in Abeokuta, said it was one of the strategies by Governor Abiodun to provide succour to parents in the face of biting economic challenges.

He said: “Given the economic realities in the country, the governor decided to provide succour to the people of the state using a multiplicity of approaches to achieve this.

“He believes that a strategy never used by any government is the health and education sectors. Through the education sector, you can truly reach out to those who need the palliative.

We have over 2, 000 primary and secondary schools in all the four divisions of the state, and 100,000 learners in these schools would receive N10,00 each.

“As we meet and give the parents the governor’s message, they are receiving the alert for payment.

“The governor’s gesture is to support the parents in meeting their children’s needs.

In the tertiary level, we are giving out N50,000 to each student. We have captured 50,000 students from all the tertiary institutions whose details have been submitted to us after we wrote to their vice-chancellors, rectors and provosts.

We are paying directly to the students to ensure that the money get to them.

We started payment last week, and we have paid over 10,000 students, and before the end of this week, we will have paid 20,000.”

Lagos and Ondo states pay the highest wage award of N35,000 to their workers while Oyo and Enugu are second with N25,000.

Ekiti and Osun pay N15,000 while Jigawa, Adamawa and Ebonyi pay N10,000.

Some of the states have also extended the payment to local government employees and pensioners.

https://thenationonlineng.net/10-states-paying-wage-award-to-workers/

APC Woos Plateau Governor After Supreme Court Verdict, Asks Him To Dump PDP

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The All Progressives Congress (APC) has extended an invitation to Governor Caleb Mutfwang, urging him to defect from the Peoples Democratic Party (PDP).

The APC’s call was made during a gathering of the North Central APC Forum in Jos, the capital of Plateau State.

Led by Saleh Mandung Zazzaga, Chairman of the APC Forum, the party stated that the transformative potentials of Governor Mutfwang’s leadership will blossom within the APC fold.

The chairman commended the governor for his inclusive governance approach, citing exemplary efforts to promote peace and security.

“Governor Caleb Mutfwang has so far shown that he is a progressive governor through his works, words and deeds since assuming office. But for him to advance more, he should consider joining the APC.

“This is because joining the APC will put him on the same page with President Ahmed Bola Tinubu who has the interest of Plateau in his heart and has been doing his best to advance it.

“Besides, Governor Mutfwang will be on the same page with his other counterparts in the North Central who are of the APC, and together they will have a common ground and work for the interest and development of the region in general and their specific states in particular.

“Also, most of the legislators from the state are in APC, and they can work hand-in-hand to move the state forward, because the relationship between the executive and the legislature cannot be overemphasized in the pursuance of progress and development.

“So, if governor Mutfwang joins the APC his value will be better appreciated and his good intentions and works would yield result more rapidly,” he said.

Easter: Industrial Court Begins Vacation 25th March

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The Honourable President of the National Industrial Court of Nigeria, His Lordship, Hon. Justice Benedict Kanyip, Ph.D, OFR has declared Monday 25th March 2024 to Friday 5th April 2024 as Easter vacation.

Hon. President made the declaration pursuant to Order 58 Rule 4 (1) (b) of the NICN Civil Procedure Rules and other enabling powers.

Justice Kanyip further stated that there will be no normal Court sitting during the period of the vacation and the normal Court sitting shall resume on Monday 8th April 2024.

Aig-Imoukhuede Steps In As Access Holdings Chairman 10 Years After Exit As CEO

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Access Holdings Plc (the Holdco) has announced that Aigboje Aig-Imoukhuede is returning as its Non-Executive Chairman.

This decision was made after the untimely passing of the previous Group Chief Executive Officer, Herbert Wigwe.

Mr. Aig-Imoukhuede, CFR replaces Mr. Abubakar Jimoh, the erstwhile Chairman of the HoldCo who remains on the Board as an Independent Non-Executive Director.

This visionary and accomplished leader is bringing an outstanding record of accomplishments, wealth of expertise and leadership to guide the Group into a new era of success.

In response to the untimely passing of the immediate past Group Chief Executive Officer of Access Holdings, Dr. Herbert Wigwe, CFR and following extensive consultations with key stakeholders, the Holdco Board unanimously decided to invite Mr. Aig-Imoukhuede to the helm of governance.

With an illustrious career spanning several decades in the banking and finance sector, Mr. Aig-Imoukhuede has proven to be an exceptional and influential leader, having admirably laid a solid foundation for Access Bank’s success as Group Chief Executive Officer between 2002 and 2013 ably supported by his partner and deputy, the late Dr. Herbert Wigwe, CFR who later succeeded him.

Under Mr. Aig-Imoukhuede’s leadership, Access Bank experienced remarkable growth and established itself as a trusted financial institution within the community. The Bank transformed from a minor player into one of Nigeria’s top 5 banks with presence in 9 other African countries and the United Kingdom. Under his stewardship, Access Bank grew its customer base from ten thousand to over six million with more than 5,000 employees and an asset base of USD $12 billion, achieving numerous milestones and becoming a globally recognized name. His strategic vision, innovative thinking, and deep market insight were instrumental to shaping the Bank’s success.

Following his retirement as the Bank’s CEO in December 2013, Mr. Aig-Imoukhuede cofounded the Tengen Family Office Limited which oversees a significant portfolio of investments and businesses in banking, finance, insurance, technology, real estate, and energy. Through the Aig-Imoukhuede Foundation, he is focused on building Nigeria’s next generation of government leaders, helping transform public sector effectiveness, and improving access to quality primary health care.