My dear Asiwaju,

I am compelled to write this open letter to you because of the state of affairs of the Yoruba nation. Firstly, I wish to acknowledge that fate has put you in a prime position to determine to a large extent the direction that the Yoruba people will go. The indisputable truth is that one may quarrel with your politics but your sagacity is never in doubt. Even those who don’t see eye to eye with you agree that you are imbued with unusual native intelligence, uncommon people skills and unrivaled foresight. You, more than any other person, has been the game changer since the advent of democracy in 1999. It is for these reasons that I have chosen to direct this letter to you.

My singular purpose is to tug at the strings of your heart. I am not writing to appeal to partisan considerations but to see, if per chance, I can pour out my heart to you in a manner of speaking. God has blessed you even beyond your wildest imagination. You have installed Senators and Governors. You have removed Governors and even a President. You have also installed a President. There is nothing you have wished for or desired that you didn’t get. Fortune has smiled on you. Goodwill follows you everywhere you go. You have done very well- more than most men ever will. However, there is one area that is begging for your urgent attention. This area may well define you and all you have ever achieved. This matter, in my opinion, is the only difference between you and the late sage, Chief Obafemi Awolowo. Let me restate for the purpose of emphasis that this is the area in which the late sage and Leader of the Yorubas stand head and shoulders above you. It is the reason his name has been a constant denominator in our regional and national politics. It is the reason politicians, friends and foes invoke his name for political advantage and personal glory. It is also the reason why we can’t stop talking about him almost thirty years after his death. What will anyone say about you thirty years after you have transited?

Asiwaju Sir, you may be wondering what I’m talking about? It is the issue of legacy. According to Peter Strople, ‘Legacy is not leaving something for people, it is leaving something in people’. Legacy is building something that outlives you. Legacy is greater than currency. In the words of Leonard Sweet, ‘ What you do is your history. What you set in motion is your legacy’. You can’t live forever, Sir. No one can. But you can create something that will. Enough of speaking in parables- I shall now speak plainly.
When destiny brought you on the scene, we were enamoured because you championed the case for true federalism. It was your belief then that the Yoruba nation will fare better under a restructured arrangement than under the type of unitary government we run while pretending by calling it a federal government. Everyone knows that there is nothing federal about our government at all. If truth must be told, the Yoruba nation has fared very badly since the advent of our new democracy. And this is not about holding power at the centre.

Let me bring this home: someone passed a comment recently that he would want Biafra to become a reality because he knows the Igbo nation will survive. That comment led me to deeper introspection as I wondered if the Yorubas can truly survive. Let me cite my first example. From Oyo to Osun, Ogun to Ondo, Ekiti to Kwara and Lagos, hardly will one see any serious industry or manufacturing concern owned by a Yoruba person. I am not talking about portfolio businesses or one-man business concerns. Most industries in Oyo State are owned by the Lebanese. The native business and industry gurus who dominated the landscape- Nathaniel Idowu, Amos Adegoke, Lekan Salami, Alao Arisekola, Adeola Odutola, Jimoh Odutola, Chief Theophilus Adediran Oni and others- are all gone with no credible replacements. I’m sure you remember the tyre factory of the Odutolas and how Jimoh Odutola was even asked by the Governments of Kenya and Ghana to set up a similar factory in their countries. Chief Theophilus Adediran Oni, popularly called T.A Oni & Sons started the first indigenous construction company in Nigeria. He willed his residence- Goodwill House, to the Oyo/Western state government, to be used as a Paediatric Hospital, which is now known as T.A Oni Memorial Children Hospital at Ring Road in Ibadan. This sprawling family Estate and residence was cited on a 15acre piece of land, 65 rooms, with modern conveniences, Olympic Swimming Pool and stable for Horses, etc.
People like Chief Bode Akindele started companies like Standard Breweries and Dr Pepper Soft drink factory at Alomaja in Ibadan. Broking House built by the late Femi Johnson, an insurance magnate, still stands glittering in the mid-day sun as an epitome to a rich history that Ibadan has. The most serious and only notable Yoruba entrepreneur we have now is Michael Adenuga. I say this quite consciously because most of the other names are oil and gas barons. Most of what stood as testaments of industry in Oyo State are gone- Exide Batteries, Leyland Autos and many others. In its place are shopping malls and road side markets but no nation develops through buying and selling alone- especially when you’re not actually producing what you’re selling. Hypermarkets and supermarkets have taken over because of the need to feed our insatiable consumer-appetite and foreign tastes. In one instance, an ancient landmark in the form of a hotel was demolished to pave way for a mall. That is how low we have sunk. If our past is better than our present- if we always look back with nostalgia frequently, then there is a problem.

The case of other states is not different. Osun’s case is pathetic. Ditto for Ondo and Ekiti. Ogun State can boast of some factories at Sango-Otta and Agbara axis but most of them are not owned by the Yorubas. There is no significant pharmaceutical company owned by any Yoruba except for Bond Chemicals in Awe, Oyo State- and its wallet share is very insignificant. For Lagos State, more than 70% of the manufacturing concerns and major industries in the State are owned by the Igbos. If the Igbos were to stop paying tax in Lagos State, the IGR of Lagos State will reduce by over 60%. In contrast, Sir, go to the South East and look at the manufacturing concerns in Onitsha, Aba and Nnewi. Please don’t forget those were areas ravaged by civil war a mere forty something years ago. The Igbos have certainly made tremendous progress but the Yoruba nation has regressed. I wish to state that this letter is not meant to whip up primordial considerations or ethnic sentiments but just to put things in proper perspective.

Asiwaju, I will like to also talk about the state of education in the Yoruba nation. Our education has gone to the dogs. We have a bunch of mis-educated and ill-educated young men and women roaming the streets. Ibadan, for instance, had the first University in Nigeria and the first set of research centres in Nigeria ( The Forestry Research Institute, the Cocoa Research Institute (CRIN), The Nigerian Cereal Research Institute Moor Plantation (NCRI), the NIHORT (Nigerian Institute of Horticultural Research), the NISER (Nigerian Institute of Social and Economic Research), IAR&T (Institute of Agriculture, Research and Training), amongst several others). Ibadan was the bastion of scholarship with people like Wole Soyinka, JP Clark, D.O Fagunwa and Amos Tutuola as residents. In the May/June 2015 West African Senior Secondary Certificate Examination, Abia came tops. Anambra came 2nd while Edo was 3rd. Lagos placed 6th while Osun and Oyo was 29th and 26th. Ekiti was 11th, Ondo State was 13th and Ogun State was 19th. In 2013 WASSCE, only Lagos and Ogun States were the Yoruba States above the national average. If we do an analysis of how Lagos placed 6th in 2015, you will discover that it was substantially because of other nationalities resident in Lagos. For proof, please look no further than the winners of the Spelling Bee competition which has produced One-Day Governors in Lagos State. Since inception in 2001, other nationalities have won the competition six times (Ebuka Anisiobi in 2001, Ovuwhore Etiti in 2002, Abundance Ikechukwu in 2006, Daniel Osunbor in 2008, Akpakpan Iniodu Jones in 2011 and Lilian Ogbuefi in 2012). Sir, there is something seriously wrong about our state of education. From the vintage times of Obafemi Awolowo who initiated ‘free education’, we have regressed into a most parlous state.

Let me talk about roads, housing and infrastructure . The first dualized road in Nigeria, the Queen Elizabeth road from Mokola to Agodi in Ibadan was formally commissioned by Queen Elizabeth in 1956. The first Housing Estate in Nigeria is Bodija Housing Estate (also in Ibadan) which was built in 1958. The state of roads in the Yoruba nation has become pathetic. Our hinterland are still largely rural. Even some state capitals like Osogbo and Ado-Ekiti are big villages when you compare them to towns in the South East. How many new estates have been built over the last decade? Even Ajoda New Town lies in ruins.

We have abandoned the farm settlement strategy of the Western Region and only pay lip service to agriculture. Instead of feeding others like we once did, others now feed us. We plant no tomatoes, no pepper and the basic food that we require. The Indians have bought the large expanse of water body that we have in Onigambari village. The water body in Oke Ogun of Oyo State can provide enough fish to feed the whole of the South West. From being a major cocoa exporter many years ago, one can point to just a few vestiges of factories that still deal with Cocoa in the Yoruba nation. 80% of Cocoa processing industries in the South West have been shut down. The Chinese have taken over the cashew belt at Ogbomoso in Oyo State. They have even edged out the indigenes as brokers. They now come to the cashew belt to buy from the local farmers, sell on the spot to other Chinese exporters who now process the cashew nuts and import them back into Nigeria at a premium. Sir, there are only 7 major cashew processing plants in Nigeria and you can check out the ownership. The glory has departed from the Yoruba nation.

Apart from Asejire, Ede, Ikere Gorge and Oyan dams built ages ago, where are the new dams to cater for increased population and water capacity for the Yoruba nation? How have we improved on what our heroes past left us? Maybe apart from certain areas in Lagos State, others can’t even supply their citizens with pipe-borne water.

Our youth which we used to take pride in are largely a mass of unemployed and unemployable people. Have you noticed the abundance of street urchins, area boys, touts and ‘agberos’ that we now have all across the Yoruba nation? Have you noticed the swell in the ranks of NURTW (I mean no disrespect to an otherwise noble union)? Have you noticed the increase in the number of Yoruba beggars? There was a time that it was taboo for a Yoruba man to beg- but no more. The spirit of apprenticeship is dead. There was a time that people who learn vocational skills celebrate what we referred to as ‘freedom’. While that is largely moribund now in the Yoruba nation, the Igbos still practice it with great success.

The only thing we can boldly say the Yoruba nation controls is the information machinery- the press. We own largely the newspapers- the Nation, Punch, Nigerian Tribune, TV Continental and a few others. It is because of our control of this information machinery that we have rewritten the narrative in the country with the misguided self-belief that things are normal and we are making progress. A look beyond the surface will prove that this is so untrue.
We are largely divided. For the first time in the history of the Yoruba nation, religion is about to divide us further- and it is starting from Osun State. You are married to a Christian. My own father-in-law is an Alhaji. That is how we have peacefully do-existed but the fabrics are about to be torn to shreds because of poor management of issues. Afenifere has been reduced to a shadow of itself. OPC that once defended Yoruba interests has gone into oblivion. Yoruba elders have been vilified in the name of politics and partisanship. It is no longer news to see teenagers throwing stones at their elders because of their political indoctrination. Even under the late sage, Chief Obafemi Awolowo, the Yorubas never belonged to just a single party- yet our unity was without blemish. Now, our values have gone down the drain.

Asiwaju, I believe I have said enough. The task is Herculean but I believe Providence has brought you here for such a time like this. It is time for the Yoruba nation to clean up its acts. What do we really want? How can we quickly right the wrongs? The Yoruba nation is in a state of arrested development. The Yoruba nation is gasping for breath and crying for help. Will you rise up to the occasion? I am aware you understand that all politics is local and charity begins at home. Our fathers gave us a proverb: ‘Bi o’ode o dun, bi igbe ni’gboro ri’. I know there are no quick fixes but I also know that if there is anyone who has the capacity to do something about our current situation, that person is you. This should be the legacy you should think of. Your legacy is our future.

Yours Very Sincerely,
Adebayo Adeyinka
Iyin-Ekiti

By Oluwakemi Ishola 

The Ondo State Chapter of All Progressives Congress (APC) has raised an alarm that Governor Seyi Makinde of the People’s Democratic Party (PDP) has imported thousands of his party members from Oyo State to participate in the October 10 Governorship elections in Ondo State.

This is coming few hours after the PDP rejected the Chief Returning Officer for the Ondo election who is the Vice-Chancellor of the University of Ife, Professor Eyitope Ogungbenro Ogunbodede.

In a statement by the chairman of the PDP Ondo State Governorship National Campaign Council, Seyi Makinde, the party alleged that Professor Ogunbodede is a known crony to the All Progressives Congress (APC), governorship candidate Rotimi Akeredolu and hails from the same hometown (Owo).

The PDP claims that Prof. Ogunbodede will not be fair in the discharge of his duty as the Ondo Governorship election Chief Returning Officer.

However, the APC fired back by claiming that the People’s Democratic Party (PDP) has connived with the Zenith Labour Party (ZLP) to subvert the wish of the Ondo State people during the Saturday elections.

APC, in a statement signed by its State Publicity Secretary – Mr. Alex Kalejaye, said it was appalled that the desperation of the PDP has taken a criminal dimension, as Governor Seyi Makinde has recruited thousands of members of his party in Oyo State for the purpose of participating in the election.

The statement read in part: “The members of the Oyo State chapter of the PDP, with their voters cards are to vote in the Ondo election, with the connivance of some staff of the Independent National Electoral Commission (INEC). The essence is to increase the PDP votes through the criminal activities”.

“While many of these “imported voters” are already scattered across the local government areas of the the State, more are expected to arrive on Friday”.

“The leader of Zenith Labour Party and former Governor of Ondo State,  Dr. Olusegun Mimiko, on the other hand, is to lead his party’s plot in harsh and ruthless determination to oust the APC flag bearer”

“A source at the ZLP Strategic Committee meeting learnt that the crux of ZLP’s rigging plan is to concentrate on the South Senatorial district, and come up with “huge votes”, to counter the votes of other aspirants”.

The APC called on its members and security agencies to be vigilant and resist every plan, aimed at subverting the wish of the people of Ondo State.

The ruling party in the State also urged INEC to caution members of its staff, and ad hoc workers to ensure that only voter’s cards that are registered in Ondo State are admitted for the purpose of voting on Saturday,  to avoid crises at Polling Units.

By Oluwakemi Ishola

President Muhammadu Buhari on Thursday presented the proposed 2021 Budget of N13 trillion to the National Assembly. According to the President, the budget termed Budget Of Economic Recovery and Resilience will address key economic issues as the country tries to recover from the impact of the coronavirus and the oil price drop.

The spending plan is about 21% rise from the revised 2020 spending plan of 10.8 trillion naira.

Read Full Speech Below:

2021 BUDGET SPEECH:

Budget of Economic Recovery and Resilience

Delivered By:

His Excellency, President Muhammadu Buhari

President, Federal Republic of Nigeria

At the Joint Session of the National Assembly, Abuja

Thursday, 8th October 2020

PROTOCOLS

1. It is with pleasure that I present the 2021 Federal Budget Proposals to this Joint Session of the National Assembly.

2. Distinguished and Honourable Leaders, and Members of the National Assembly, at this juncture, I wish to commend your tremendous efforts in approving the revision of the 2020 – 2022 Medium-Term Expenditure Framework and Fiscal Strategy Paper, and passage of the 2020 Appropriation (Repeal and Amendment) Act, in response to the Coronavirus Pandemic.

3. Today marks an important occasion in our quest to accord the federal budget process the seriousness it deserves. In line with our commitment, we have worked extra hard to ensure early submission of the 2021 –2023 Medium-term Expenditure Framework and Fiscal Strategy Paper, as well as the 2021 Appropriation Bill. It is my sincere hope that the National Assembly will pass this Bill into law early enough to enable implementation by 1st January 2021, given the collaborative manner in which the budget was prepared.

4. In the course of this address, I will present the highlights of our budget proposals for the next fiscal year. The Honourable Minister of Finance, Budget and National Planning will, later, provide the full details of these proposals.

Recent Developments

1. The 2021 Budget was prepared amidst a challenging global and domestic environment due to the persistent headwinds from the Coronavirus Pandemic. The resulting global economic recession, low oil prices and heightened global economic uncertainty have had important implications for our economy.

2. The Nigerian economy is currently facing serious challenges, with the macroeconomic environment being significantly disrupted by the Coronavirus Pandemic. Real Gross Domestic Product (‘GDP’) growth declined by 6.1 per cent in the second quarter of 2020. This ended the 3-year trend of positive, but modest, real GDP growth recorded since the second quarter of 2017. I am glad to note that, through our collective efforts, our economy performed relatively better than that of many other developed and emerging economies.

3. GDP growth is projected to be negative in the third quarter of this year. As such, our economy may lapse into the second recession in four years, with significant adverse consequences. However, we are working assiduously to ensure a rapid recovery in 2021. We remain committed to implementing programmes to lift 100 million Nigerians out of poverty over the next 10 years.

4. As skills’ deficits limit employment opportunities in the formal economy, various skills’ development programmes are being implemented simultaneously to address this problem frontally. For instance, the Government is implementing the Special Public Works programme to provide employment opportunities to 774,000 youths across the 774 local government areas of Nigeria. We have also recently introduced the N75 billion Nigeria Youth Investment Fund, of which N25 billion have been provided in 2021 Budget.

5. We thank all Nigerians, for your perseverance and continued support during these difficult times. We remain unwavering in our commitment to actualize our vision of a bright future for everyone.

Performance of the 2020 Budget

6. Distinguished and Honourable Members of the National Assembly, you will recall that the 2020 ‘Budget of Sustaining Growth and Job Creation’ was amended in response to recent fiscal pressures. I am glad to report that these efforts enabled us to effectively respond to the public health challenge of Coronavirus outbreak and moderate economic impact.

7. Pursuant to our revised assumptions, the amended 2020 Budget was based on a benchmark oil price of 28 US Dollars per barrel; oil production of 1.80 million barrels per day; and an exchange rate of N360 to the US Dollar.

8. Based on these budget parameters, the aggregate revenue of N5.84 trillion was projected to fund N10.81 trillion in expenditure. The projected deficit of N4.98 trillion, or 3.57 per cent of GDP, is expected to be financed mainly by borrowing.

9. In 2020, average daily oil production was 1.88 Mbps up to June, as against the revised estimate of 1.80 Mbps for the entire year. However, the market price of Bonny Light crude averaged 40.79 US Dollars per barrel, significantly higher than the revised benchmark price of 28 US Dollars.

10. As of July 2020, the Federal Government’s actual revenue available for the budget was N2.10 trillion. This revenue performance was only 68 per cent of our pro-rated target in the revised 2020 budget. At N992.45 billion, oil revenue performed well above our budget target, by 168 per cent. Non-oil tax revenues totalled N692.83 billion, which was 73 per cent of the revised target.

11. To improve independent revenue performance, I have directed that the cost profiles of Government Owned Enterprises (‘GOEs’) should be scrutinized and limits imposed on their cost-to-revenue ratios. Supervising Ministers have also been directed to ensure closer monitoring of the revenue-generating activities and expenditures of the Government Owned Enterprises.

12. On the expenditure side, as at end of July 2020, a total of N5.37 trillion had been spent as against the pro-rated expenditure of N5.82 trillion. Accordingly, the deficit was N3.27 trillion. This represents 66 per cent of the revised budgeted deficit for the full year.

13. Despite these challenges, we met our debt service obligations. We are also up to date on the payment of statutory transfers and staff salaries, while overhead costs have been significantly covered.

14. For the first time in recent years, we commenced the implementation of this year’s capital budget in the first quarter. As at 15th September 2020, a total of about N1.2 trillion had been released for capital projects. Every Federal MDA has received at least 50 per cent of its 2020 capital expenditure budget, in line with my earlier directives.

15. Let me emphasise that revenue generation remains our major challenge. Nevertheless, the Government is determined to tackle the persisting problems with domestic resource mobilization, as there is a limit to deficit financing through borrowing. The time has come for us to maintain a healthy balance between meeting our growing expenditure commitments and our long-term public financial health.

Key Achievements in the 2020 Fiscal Year

34. Over the last year, this Administration has implemented several priority projects. I am happy to report that much progress has been made on several fronts and our Government has delivered on key policies, programmes and projects in these priority areas.

16. In agriculture, we have recorded appreciable success in rice and other crops mainly through the Anchor Borrowers Programme and the Presidential Fertilizer Initiative, anchored by the Central Bank of Nigeria and the Nigeria Sovereign Investment Authority, respectively. We are also accelerating the construction of 337 rural roads around key agricultural corridors to enhance access to market and reduce post-harvest losses. These efforts have reduced the adverse impact of Coronavirus on our food availability, prices and security.

17. We have made progress on the railway projects connecting different parts of the country. The Lagos-Ibadan Line will soon be operational. The Abuja-Kaduna Line is running efficiently. The Itakpe-Ajaokuta Line was finally completed after over 30 years since it was initiated and commissioned in September 2020.

18. Arrangements are underway to complete the Ibadan-Kano Line. Also, work will soon commence on the Port Harcourt-Maiduguri Line and Calabar-Lagos Coastal Line, which will connect the Southern and Eastern States to the North, and the South-South as well as South-East to the North, and South-West, respectively.

19. The Second Niger Bridge is at about 46 per cent completion. We hope to commission the project before the end of our tenure in 2023. We have awarded several contracts to rehabilitate, reconstruct and construct major arterial roads, in order to reduce the hardship to commuters and increase economic activity.

20. To bridge the infrastructure deficit, we are also implementing innovative financing strategies to pull in private sector investment. The Infrastructure Company, which I recently approved, will become a world-class infrastructure development vehicle, wholly focused on making critical infrastructural investments in Nigeria. This Infrastructure Company will raise funding from the Central Bank of Nigeria, the Nigeria Sovereign Investment Authority, the Africa Finance Corporation, pension funds as well as local and foreign private sector development financiers.

21. Under the Road Infrastructure Tax Credit Scheme, we are undertaking the construction and rehabilitation of over 780km of roads and bridges, nationwide, to be financed by the grant of tax credits to investing business. Ongoing projects under this scheme include:

a. Construction and Rehabilitation of Lokoja-Obajana-Kabba-Ilorin Road Section II (Obajana-Kabba) in Kogi and Kwara States;

b. Construction of Apapa-Oworonshoki-Ojota Expressway in Lagos State; and

c. Construction of Bodo-Bonny road with a bridge across the Opobo Channel in Rivers State.

22. To enhance good governance, we strengthened our anti-corruption agencies to ensure they work independently and jointly while respecting the rule of law. We have also worked to address emergent cases of insecurity and insurgency, nationwide, with innovative approaches. Our security operations in the Niger Delta, North Central and North West are yielding desired results. We are determined to get rid of bandits, kidnappers and criminal behaviour from our midst.

Theme & Priorities of the 2021 Budget

23. Distinguished Senators; Honourable Members; let me now turn to the 2021 Appropriation Bill, which is designed to further deliver on the goals of our Economic Sustainability Plan. This Plan provides a clear road map for our post- Coronavirus economic recovery as a transitional plan to take us from the Economic Recovery and Growth Plan (2017 – 2020) to the successor Medium-Term National Development Plan (2021 – 2025).

24. In view of the many challenges confronting us, we must accelerate our economic recovery process, promote social inclusion and strengthen the resilience of the economy. The 2021 Appropriation has, therefore, been themed the ‘Budget of Economic Recovery and Resilience’. It is expected to accelerate the pace of our economic recovery, promote economic diversification, enhance competitiveness and ensure social inclusion.

Parameters & Fiscal Assumptions Underpinning the 2021 Appropriation

25. Distinguished Members of the National Assembly, the 2021 – 2023 Medium Term Expenditure Framework and Fiscal Strategy Paper set out the parameters for the 2021 Budget, which include:

a. Benchmark oil price of 40 US Dollars per barrel;

b. Daily oil production estimate of 1.86 million barrels (inclusive of Condensates of 300,000 to 400,000 barrels per day);

c. Exchange rate of N379 per US Dollar; and

d. GDP growth projected at 3.0 per cent and inflation closing at 11.95 per cent.

Finance Bill 2020

26. Distinguished and Honourable Members; I have directed the Minister of Finance, Budget and National Planning to finalise the Finance Bill 2020, which will be forwarded for your kind consideration and passage into law, shortly after today’s 2021 Budget presentation. The Finance Bill is to support the realization of our 2021 revenue projections, adopt appropriate counter-cyclical fiscal policies and enhance the efficiency of fiscal incentives.

Tax Expenditure Statement

27. In compliance with the Fiscal Responsibility Act of 2007, we will prepare and publish, a Tax Expenditures Statement for 2019. The 2019 Statement will be the first of these annual Statements, setting out the estimated cost of tax exemptions, incentives and rebates provided under Nigeria’s revenue and other laws. The 2019 Statement is expected to contribute to public discussion on the use of our tax policies and system to achieve socio-economic development.

Federal Government Revenue Estimates

28. Based on the foregoing fiscal assumptions and parameters, total federally distributable revenue is estimated at N8.433 trillion in 2021. Total revenue available to fund the 2021 Federal Budget is estimated at N7.886 trillion. This includes Grants and Aid of N354.85 billion as well as the revenues of 60 Government-Owned Enterprises.

29. Oil revenue is projected at N2.01 trillion. Non-oil revenue is estimated at N1.49 trillion. As you will observe, the format of the 2021 Appropriation Bill has been modified to include budgeted revenues, no matter how small, for each MDA, to focus on internal revenue generation. Accordingly, I implore you to pay as much attention to the revenue side as you do to the expenditure side.

Planned 2021 Expenditure

30. An aggregate expenditure of N13.08 trillion is proposed for the Federal Government in 2021. This includes N1.35 trillion spending by Government-Owned Enterprises and Grants and Aid funded expenditures of N354.85 billion. For 2021, the proposed N13.08 trillion expenditure comprises:

a. Non-debt Recurrent Costs of N5.65 trillion;

b. Personnel Costs of N3.76 trillion;

c. Pensions, Gratuities and Retirees’ Benefits of N501.19 billion;

d. Overheads of N625.50 billion;

e. Debt Service of N3.124 trillion;

f. Statutory Transfers of N484.49 billion; and

g. Sinking Fund of N220 billion (to retire certain maturing bonds).

Fiscal Balance

1. The 2021 Budget deficit (inclusive of Government-Owned Enterprises and project-tied loans), is projected at N5.20 trillion. This represents 3.64 per cent of estimated GDP, slightly above the 3 per cent threshold set by the Fiscal Responsibility Act, 2007. It is, however, to be noted that we still face the existential challenge of Coronavirus Pandemic and its aftermath; I believe that this provides a justification to exceed the threshold as provided for by this law.

31. The deficit will be financed mainly by new borrowings totalling N4.28 trillion, N205.15 billion from Privatization Proceeds and N709.69 billion in drawdowns on multilateral and bilateral loans secured for specific projects and programmes.

Statutory Transfers

32. The sum of N484.49 billion provided for Statutory Transfers in the 2021 Budget represents an increase of N56.46 billion (or 13 per cent) over the revised 2020 provision. The Statutory Transfer provisions are:

a. Niger Delta Development Commission – N63.51 billion;

b. North East Development Commission – N29.70 billion;

c. National Judicial Council – N110.00 billion;

d. Universal Basic Education Commission – N70.05 billion;

e. Independent National Electoral Commission – N40.00 billion;

f. National Assembly – N128.00 billion;

g. Public Complaints Commission – N5.20 billion;

h. Human Rights Commission – N3.00 billion; and

i. Basic Health Care Provision Fund – N35.03 billion.

33. In compliance with the Fiscal Responsibility Act 2007, all beneficiaries of Statutory Transfers will be required to provide the Budget Office of the Federation with periodic reports on the allocation and expenditure of funds for inclusion in the quarterly Budget Implementation Report.

Recurrent Expenditure

34. In our efforts to enhance national security and human capital development, a major part of the 2021 recurrent cost estimate is allocated to paying salaries and overheads in MDAs providing these critical public services. These include:

a. N227.02 billion for the Ministry of Interior;

b. N441.39 billion for the Ministry of Police Affairs;

c. N545.10 billion for the Ministry of Education;

d. N840.56 billion for Ministry of Defence; and

e. N380.21 billion for the Ministry of Health.

Personnel Costs

35. Personnel cost is still our largest single item of expenditure. In the 7 months to 31st July 2020, it accounted for 34 per cent of total Federal Government spending and is projected at 33 per cent of 2021 expenditure.

36. To check the incidence of payments to non-existent personnel and unauthorised allowances, only Federal staff that have been captured on the Integrated Personnel Payroll Information System (‘IPPIS’) platform will receive salaries.

37. All agencies have been directed to ensure that they obtain all necessary approvals before embarking on any fresh recruitment. Any breach of these directives will be severely sanctioned.

Debt Service

38. We remain committed to meeting our debt service obligations. Hence, we have provisioned N3.12 trillion for this in 2021, representing an increase of N445.57 billion from N2.68 trillion in 2020. A total of N2.183 trillion has been set aside to service domestic debts while N940.89 billion has been provided for foreign debt service. N220 billion is provided for transfers to the Sinking Fund to pay off maturing bonds issued to local contractors and creditors.

Overhead Costs

39. Total overhead costs of MDAs and Government Owned Enterprises are projected to rise to N625.50 billion in 2021, mainly due to the inclusion of the overheads of an additional 50 Government-Owned Enterprises. Overhead provisions have also been made for newly created agencies. To keep a tab on running costs, MDAs must adhere to extant expenditure controls.

Capital Expenditure

40. An aggregate sum of N3.85 trillion is expected to be available for capital projects in 2021, as summarised below:

a. N1.80 trillion for MDAs’ capital expenditure;

b. N745 billion for Capital Supplementation;

c. N355 billion for Grants and Aid-funded projects;

d. N20 billion for the Family Homes Fund;

e. N25 billion for the Nigeria Youth Investment fund;

f. N336 billion for 60 Government-Owned Enterprises;

g. N247 billion for capital component of Statutory Transfers; and

h. N710 billion for projects funded by Multi-lateral and Bi-lateral loans.

41. The 2021 capital budget is N1.15 trillion higher than the 2020 provision of N2.69 trillion. At 29 per cent of aggregate expenditure, the provision moves closer to this Administration’s policy target of 30 per cent.

42. Capital expenditure in 2021 remains focused on the completion of as many ongoing projects as possible, rather than the commencement of new ones. We have also made efforts to ensure equity in the distribution of projects and programmes in the proposed budget. I will be providing the National Assembly a list of some of the most critical projects which we must work collectively to ensure they receive adequate funding. Until projects reach completion, they do not deliver the dividends of democracy that Nigerians rightly deserve.

Highlights of the 2021 Capital Projects

43. Key capital spending allocations in the 2021 Budget include:

a. Power: N198 billion (inclusive of N150 billion for the Power Sector Recovery Plan);

b. Works and Housing: N404 billion;

c. Transportation: N256 billion;

d. Defence: N121 billion;

e. Agriculture and Rural Development: N110 billion;

f. Water Resources: N153 billion;

g. Industry, Trade and Investment: N51 billion;

h. Education: N127 billion;

i. Universal Basic Education Commission: N70 billion;

j. Health: N132 billion;

k. Zonal Intervention Projects: N100 billion; and

l. Niger Delta Development Commission: N64 billion.

44. The Ministry of Agriculture and Rural Development will facilitate the integrated development of its sector by promoting crops’ value chains; as well as providing rural roads, water and sanitation, veterinary and pest controls, grazing, food and strategic reserves, and access to inputs and extension services.

45. The 157 per cent increase in the capital allocation to the health sector is to enhance the capacity to deliver healthcare services through the procurement of equipment, vaccines and other facilities. Two centres of excellence, as well as one Accident and Emergency Centre, will be equipped in Federal Teaching Hospitals in each geopolitical zone.

46. In addition, numerous Primary Health Care Centres will be equipped and upgraded across the six geopolitical zones. Furthermore, funds have been allocated for the expansion of the Midwives Service Scheme in the six geopolitical zones. To enhance occupational safety, funds have been provided for the provision of Personal Protective Equipment for health workers.

47. The Ministry of Education’s capital allocation has been increased by 65 per cent to improve the education of our children. Funds have been provided for the provision of scholarship awards to Nigerian students at home and abroad.

48. We have provided funds for the upgrade of security and other infrastructural facilities in our Unity Colleges nationwide. To improve access to education, we have made provision for the establishment of five new Federal Science and Technical Colleges. We have also provided for the payment of allowances to 5,000 teachers under the Federal Teachers Scheme.

49. In line with our commitment to investing in Transportation Infrastructure, capital allocation to the Works and Housing sector is to facilitate the completion of several critical projects in 2021. I have directed the Minister of Finance, Budget and National Planning to provide a detailed breakdown of key infrastructural projects in her subsequent Press Briefing.

50. Key projects for implementation in the Power sector include several Rural Electrification Projects in the 36 States and Abuja, Rural Electrification Access Programme in Federal Universities, the Kaduna LPFO Gas-Fired Power Plant, the Mambilla Hydro Power Project and the Zungeru Hydropower Project.

51. Provisions have been made for legacy debts owed to local contractors compensation and resettlement of project-affected communities, the Renewable Energy Micro Utility (Solar) project, and the construction of transmission lines and substations nationwide. These project’s implementation is expected to have a positive impact on electricity supply nationwide, as well as boost productivity and employment.

52. Projects to be implemented by the Ministry of Water Resources in 2021 include the provision of potable water in the North East, construction of irrigation and dams across the country, and the provision of Water, Sanitation and Hygiene facilities.

53. The Ministry of Transportation has earmarked funds for projects such as the Lagos-Ibadan-Kano Line, Abuja-Kaduna Line, Port-Harcourt-Maiduguri Line and Itakpe-Ajaokuta-Warri Line. These projects, when completed, will minimize the cost of transporting people and goods around the country.

54. To maintain the peace in the Niger Delta region for economic and social activities to thrive, the provision of N65 billion for the Presidential Amnesty Programme has been retained in the 2021 Budget. In addition, the sum of N63.51 billion has been appropriated for the Niger Delta Development Commission and N24.27 billion has been provided for the capital projects of the Ministry of Niger Delta Affairs. These allocations should further support the development of the region by facilitating the completion of important ongoing projects, such as the East-West Road.

Government Fiscal Strategy in 2021

55. The government is already implementing several measures to overcome our fiscal constraints. In addition to the Strategic Revenue Growth Initiatives, we are leveraging technology and automation, as well as more effective monitoring of Independently Generated Revenues. Our efforts are aimed at addressing revenue leakages and redirecting scarce resources to the poor and vulnerable. These efforts include:

a. Deregulation of the price of petroleum products;

b. Ongoing verification exercise with IPPIS; and

c. Implementation of service-based electricity tariffs.

56. The new petrol pricing regime has freed up resources that was allocated to subsidise petroleum products. Similarly, the ongoing IPPIS verification exercise has closed gaps that encourage ghost workers or pensioners. The service reflective electricity tariffs will help resolve the liquidity crisis in the power sector and make the sector attractive to foreign investment. These reforms have released trillions of Naira for allocation to other priority areas.

57. Distinguished Senators, Honourable Members, permit me to reiterate that the main thrust of our capital spending programme in 2021 is the completion of as many ongoing projects as possible across the country. Accordingly, we have prioritized projects that can be rapidly completed to benefit our people.

58. Distinguished Senators and Honourable Members, I note, with satisfaction, your determination to promptly consider and pass the Petroleum Industry Bill into law. The enactment of this Bill will boost confidence and attract further investments into our oil and gas sector, as well as increase revenues.

59. I fully understand the difficulties many of our people are going through with the implementation of our reform agenda. However, the measures we are implementing are necessary for sustainable public finance, better allocation of our scarce resources and improved public service delivery. As we implement these reforms, social safety nets will be implemented to cushion the effect of the most vulnerable of our citizens as well as business owners.

60. In furtherance of our inclusiveness agenda, the sum of N420 billion has been provided to sustain the Social Investment Programme. N20 billion has also been set aside for the Family Homes Fund, our Social Housing Programme. We have expanded our National Social Register, to include an additional one million Nigerians following the onset of Coronavirus. We recently introduced the N75 billion Survival Fund Programme to support and protect businesses from potential vulnerabilities. Furthermore, the Central Bank of Nigeria is reducing the interest rate on its intervention facilities from 9% to 5% with a 1-year moratorium till 31st March 2021, to provide concessional lending of:

. N100 billion to households and small businesses;

a. N100 billion to the healthcare and pharmaceutical industry; and

b. N1 trillion to large agricultural and manufacturing businesses.

61. We urge Nigerian businesses and individuals to make the most of these concessional credit facilities and other such opportunities.

Conclusion

62. Mr Senate President, Mr Speaker, Distinguished and Honourable Members of the 9th National Assembly; let me use this opportunity to, again, commend your firm commitment towards ensuring a very harmonious and productive relationship with the Executive. It is important to further deepen this relationship in the interest of our people.

63. As you review the 2021 Budget estimates, we believe the legislative process will be expedited to ensure its prompt passage to sustain the restoration of a predictable January – December fiscal year. In this regard, I have directed all Ministers and Heads of Agencies to be personally available for budget defence.

64. Let me re-emphasize that Nigerians expect that the 2021 Budget will contain only implementable and critical projects, which when completed, will significantly address current structural challenges of the economy, improve the business environment and accelerate economic recovery.

65. May I conclude my remarks by commending the National Assembly for its support in steering our economy during these very challenging times. We remain committed to sustaining this partnership. We believe that as we work together, we will jointly deliver on our joint mandate to our people.

66. It is with great pleasure, therefore, that I lay, before this Distinguished Joint Session of the National Assembly, the 2021 Budget Proposals of the Federal Government of Nigeria, for your consideration.

67. I thank you for your attention.

68. May God continue to bless the Federal Republic of Nigeria.

By Oluwakemi Ishola 

Members of the Revolution Now have clashed with the Nigerian policemen while trying to gain entrance into the Force Headquarters building in Abuja during their protest on #EndSARS.

The protest which was led by the co-convener, Omoyele Sowore, was to mount pressure on the Inspector General of Police, IGP, Mohammed  Adamu, to dissolve the Special Anti- Robbery Squad, SARS, unit over assault, extortion, and robbery on citizens.

They tried gaining entrance into the Police Force Headquarters, demanding to speak to the IGP but access was not granted by the security barricading the premises.

After the disagreement, the Police spokesperson, Frank Mba, came out to address the protesters and appealed to them to shun violence as the IGP is working towards finding solutions to the demand to end SARS.

The protesters said if their request is not granted, they will keep up with the action until the Federal Government and IGP Adamu do the needful.

Recently, the Nigerian House of Representatives debated on a motion on #EndSARS over the fallen standard of the unit which has caused many Nigerians to lose trust in the security outfit.

I believe you have all noticed. Vice-President Yemi Osinbajo is regaining his stature and waxing reformist on some of the problems dogging Nigeria. He is breaking out of the supposed cabal-stitched straitjacket into a tinderbox of chutzpah. It seems he has elected to remove the duct tape from his mouth at this time.  But it is puzzling why the vice-president is picking this time in the life of the administration he represents to pipe up. Is there a 2023 graph under plot?

Really, Nigerians pined to hear Osinbajo, a professor of law and senior advocate of Nigeria, talk up when the Buhari administration dispatched DSS agents to desecrate the residences of judges in the most ungodly hour. Nigerians strained their ears in vanished hope that even a whisper of condemnation against the assault on journalists and activists by the government will be let out by the vice-president. Even if not spoken, there are unspoken gestures the vice-president could have used to convey his position on the extra-judicial exertions of the administration if he really differed.

Without any scintilla of doubt, Adeboye’s deposition that if Nigeria is not restructured it will break up is beyond reproach.

The cleric said the obvious but with a roar: “Why can’t we have a system of government that will create what I will call the United States of Nigeria? Let me explain. We all know that we must restructure. It is either, we restructure or we break up; you don’t have to be a prophet to know that one. That is certain – restructure or we break up.

“Now, we don’t want to break up, God forbid. In restructuring, why don’t we have a Nigerian kind of democracy? At the federal level, why don’t we have a president and a prime minister?”

Really, it is disturbing that a section of the presidency is picking a bone with this patent fact. The section of the presidency in the pursuit of its agenda against the other, dug into the mud for slingshots under the cover of a polarising debate. My deduction, Osinbajo is the subject of Garba Shehu’s press statement glibly targeting Adeboye and others of kindred opinions. Though Shehu did not mention the name of the cleric explicitly, the trajectory of the dart was clear. The press statement was needless in that virulent form.

‘’The Garba Shehu section of the presidency’’ cannot openly respond to the utterances by the other feuding section of the presidency without sending out a vibe of discordance at the villa, so proxies and associates take the hit. It is a one of kind presidency.

Osinbajo must maintain his candid-speaking tempo, if he wants the warmth and approval of the masses. But it will not come easy because he is a part of the system citizens are railing against. He must go beyond words and walk the rope. He must be genuine about of his ‘’activism’’. If it is the 2023 election that he is angling for by his reformist public statements, then Nigerians have already seen through his insincerity.

Fredrick Nwabufo is a writer and journalist

Twitter @FredrickNwabufo

By Oluwakemi Ishola 

The Independent National Electoral Commission, INEC, has commenced the distribution of sensitive materials for Saturday’s governorship election in Ondo State.

The materials which include ballot papers and result sheets were distributed at the Akure office of the Central Bank of Nigeria, CBN, where they have been kept since Monday after they arrived at the state from Abuja.

The exercise was supervised by the national commissioner in charge of Ondo, Edo, and Lagos, Dr. Adekunle Ogunmola, and the State Resident Electoral Commissioner, Dr. Rufus Akeju.

Present at the CBN office to witness the exercise are Representatives of political parties, civil society organizations, observers and security agencies.

By Oluwakemi Ishola 

Students of The Polytechnic, Ibadan will commence the first semester examination for the 2019/2020 academic session on Monday, 12th October 2020.

The HND II students of the Faculty of Business and Communication Studies and their counterparts in Environmental Studies will kick start the examination which will be completed on 23rd October.

According to a statement signed by the Institution’s Registrar – Mrs Modupe Theresa Fawale, all students that will be writing examination on Monday are expected to pay up their tuition and other approved fees as a pre- condition for writing their examinations.

The statement equally noted that all HND II and NDII students who did not complete their payment during the first year will not be able to proceed with payment for their present classes except they complete all the required procedure for their first year.

According to the statement, students having difficulties should go to the solution centres created by the Institution.

The designated solution centres include the Institution’s ICT centre also known as CBT, poly cybercafé beside the microfinance bank and computer centre at the Faculty of Financial Management Studies (FFMS).

The statement further urged students to adhere to their timetable for revision and examination as scheduled.

Revision for HNDII and NDII students in the Faculties of Engineering (FENG), Science (FES) and Financial Management Studies (FFMS) who are expected to come to school then will hold between 26th to 30th October, 2020 while their examination will run from 2nd to 13th November, 2020.

For ND I and HND I students, their academic activities will commence on 16th November with revision for NDI and HNDI students of the Faculties of Business and Communication Studies and their counterparts in Environmental Studies which will end on 20th November.

“Examination for these students HNDI and NDI of FES and FBCS will hold between 23rd November and 4th December, 2020”.

“From 7th to 11th December, NDI and HNDI in the Faculties of Engineering, Science and Financial Studies will have their revision exercise with their examination holding between 14th and 24th December, 2020”.

The statement noted that it is mandatory for all students to abide by all COVID-19 protocol as those that failed to abide will not be allowed to take part in the scheduled activities.

It also added that only students with evidence of registration with passport photograph are expected to resume as specified for the various faculties and classes.

The statement further urged all the students to comply strictly to their schedule of activities as excuses for non- compliance will not be entertained.

By Oluwakemi Ishola 

By Oluwakemi Ishola 

A former Nigerian Head of State, General Yakubu Gowon (rtd). has been accused of destroying the country’s federal system of government, which has led to the current agitation for a restructuring of the Nigerian federation. This comes as critics wonder if the calls for restructuring are genuine enough to merit any sort of serious consideration.

Principal Partner of Dele Farotimi, and Co. Law firm, Dele Farotimi, who was a guest on ARISE NEWS,said grievances and calls for restructuring are genuine and go back fifty-four years.

“There were three regions, three federating regions at our independence. There was a mechanism that allowed for the creation of an additional region that was reflected in our 1963 constitution.

“When the military came in 1966 and Gowon created states at the outbreak of the civil war, he destroyed the federation that he inherited,” Farotimi said.

The lawyer said secessionists in the country are gaining adherents because there are genuine grievances that are not allowed to find expression.

“You cannot aggregate people’s rights and expect that you will find expressions for their grievances. All you will find is that you are providing avenues for those who trade-in grievances.

By Oluwakemi Ishola 

The Federal Government has announced its plan to completely close a section of Third Mainland Bridge for a period of two days, for repair works.

This was announced on Wednesday in a statement signed by the Federal Controller of Works, Lagos, Joshua Popoola.

The total closure of the section of the bridge will take place from midnight of Friday, October 9 to midnight of Sunday, October 11 to allow the contractor complete the first stage of casting works.

The statement explained that the contractor currently carrying out repair works on the bridge is nearing completion of works on the closed section of Third Mainland Bridge and requires the total closure of both bounds of the bridge between Adeniji Adele and Adekunle to complete work.

“The total closure of this section of the bridge is to ensure that there is no vibration on the bridge during the casting in-place of the newly installed expansion joints. This is to allow for setting of the special concrete, which allows the concrete to achieve its required compressive strength,” the statement read in part.

Due to the number of expansion joints to be cast on the closed section of the bridge and the traffic situation in Lagos State, especially during the week days; the casting of the expansion joints will be in two stages to ensure that the total closure is only at the weekends, when there is less traffic plying the route.

The second total closure of the section of the bridge will be communicated at a later date.

The section of the bridge between Adekunle and Iyana – Oworo will still remain open, and traffic can move from Ebute-Metta/ Adekunle to Iyana – Oworo and vice – versa.

By Oluwakemi Ishola

The National Assembly will at a joint sitting of the Senate and the House of Representatives tomorrow, the 8th day of October, 2020 receive in audience President Mohammadu Buhari to receive the 2021 Budget under full Covid-19 protocols.

According to the Senate Spokesperson – Senator Surajudeen Ajibola Basiru, the resolution was passed by the Senate at its plenary on Wednesday. 7th October, 2020 stating that the joint session will hold as usual in the Chambers of the House of Representatives at 11am prompt.

Sitting arrangements in the Green Chambers, according to the Senate resolution will be in line with recommended social distancing protocols.

The use of face mask will be compulsory to admit participants into the chamber and only members of the National Assembly and duly accredited members of the Executive accompanying Mr. President and other relevant officials of the National Assembly will be allowed into the chamber.

The resolution further stated that persons in the entourage of Mr President must be officers who have relevant functions and responsibilities related to the presentation of the appropriation bill.

The Senate resolution added that the joint session will be an abridged one that will last for a maximum duration of one hour.