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Ekiti To Reposition State Economy Through Zero Oil Plan

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Ekiti state government has disclosed plans to domesticate the Federal Government’s zero oil strategy for total diversification of the economy in its drive to reposition the state’s finances.

 The Commissioner for Budget and Economic Planning, Mr Femi Ajayi, disclosed this during the presentation of the detailed analysis of the 2020 budget to stakeholders in Ado-Ekiti on Thursday.

Ajayi said the size of the 2020 budget of N124,724,869,355.95 made up of N53,538,093.59 and N71,186,775,549.36  capital and recurrent expenditures respectively was  within the ambit of the requirements for the fiscally sustainable plan of the Federal Government

He explained that the budget was in line with fiscal policy of having a purposeful and all-inclusive budget that will serve as a tool for the implementation of socio-economic policy and prudent management of available resources.

The Commissioner said the 2020 budget preparation took into cognizance the interests of all towns, communities and interests groups, adding that the  budget was woven round the five cardinal programmes of the administration to deliver on its electioneering promises to the people of the state.”

According to him, “The 2020 budget represents a reduction of N5,199,602,779.06 or (4%) from the 2019 budget size of N129,924,472,135.01.  the operational dynamics of the 2020 budget was to reduce the budget performance variance in the 2020 fiscal year to ensure compliance with the requirement of the state fiscal transparency, accountability and sustainability programmes for results which allows only 20 per cent variance in implementation.”

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Ajayi added that the reduction was also informed by the need to have a more realistic budget, considering the dwindling allocation from the federation account.

Analysing the 2019 budget of restoration upon which the 2020 budget of deliverables was hinged, the Budget commissioner said 2019 budget was prepared to restore the core values of Ekiti people and revamp the state economy which was designed to widen the scope of revenue generation by widening the tax net and blocking all leakages in the revenue accrued to government.

He explained further that the budget was financed principally from revenue from federal allocation, internally generated revenue, value-added tax, funds from international donor agencies, grants from the federal government and other sources.

The commissioner also explained that the focus of the 2020 budget, christened “Budget of Deliverables” was to establish a fiscal framework that would transform the socio-economic activities of the state and situate Ekiti in the right perspective in the committee of states in Nigeria. He added that the budget was to drive Ekiti towards agricultural, industrial and knowledge base of the Nigerian economy through completion of all ongoing capital projects across the state and commencing other legacy projects.

He highlighted the objectives of the budget to include consolidation of the achievements recorded in core values of the state; establishing a fiscal framework that will positively translate the present economic realities to a major viable agricultural and industrial base of the Nigerian economy; to pursue aggressive revenue generation drive within the ambit of the law and reduce the dependence of the state on allocation from the federal government; to invest in human capital and strengthen the human resources base through strategic investments in qualitative education and health care delivery to all as well as improve ease of doing business and provide enabling socio-economic environment required for the success of government reforms.

While seeking the continued support of the people for Governor Kayode Fayemi administration to bring its lofty ideas and programmes into reality, the commissioner noted that the implementation of the budget will further improve the lives of the people and stimulate economic activities in the state.

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Suspected kidnappers abducts 10 travellers in Ondo

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Ondo

No fewer than 10 passengers have been abducted by gunmen along the Owo-Benin highway in Ose Local Government Area of Ondo State.

The gunmen reportedly attacked the commercial bus the passengers were travelling in after which they were marched into the bush.

It was gathered that the passengers were on their way from Akwa Ibom to Akure when the incident happened.

One of the sources, who craved anonymity, disclosed that the driver of the space bus had initially thought that the gunmen were security operatives but realised that they were criminals when they shot sporadically into the air.

” They were kidnapped on the Owo-Ipele road on Saturday morning at about 12 am. Their vehicles were stopped, and they were dragged into the bush to an unknown destination.

“The hoodlums ambushed them and whisked all the occupants of the vehicle into the bush. All the occupants of the vehicle were abducted and nobody heard anything about them since then.

However, the police image maker in the state, Funmilayo Odunlami, however, stated only seven people were kidnapped.

“The police received information that a vehicle was attacked along the Owo/Ifon road, and seven people were suspected to have been abducted.

“Seven travellers were involved; they were coming from Akwa Ibom State in a commercial bus. Our men are already making efforts to rescue the victims from the kidnappers and arrest the perpetrators.”

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Banditry: End insecurity by 2025 ending – Tinubu gives military marching orders

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President Bola Tinubu has issued marching orders to the military to end banditry and general insecurity by the end of 2025.

This was disclosed by the Minister of Defence, Abubakar Badaru, in a viral video.

Following Tinubu’s order, Badaru said the military will continue its onslaught against bandits and all forms of criminalities.

The Minister said bandits are currently on the run and that the military won’t stop until they are all flushed out.

According to Badaru: “The bandits are now on the run, but the military will not rest until we end this thing. The president has given us marching orders to end insecurity in every part of our country by the end of this year.

“The Chief of Defence Staff, NSA are working day and night to actualize that target, as you have seen we are putting pressure on all the theatre operations.

“And indeed, mining activities have been lifted in Zamfara already and this is part of the reason we are meeting today to look at all areas where we have serious security issues and how best we can secure those areas.”

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50% telecom tariff hike: NATCOMS backs decision as NLC bows to FG’s pressure

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The Nigeria Labour Congress bowed to pressure to halt its planned Tuesday nationwide protest against the 50 percent telecommunication tariff hike.

Also, the National Association of Telecoms Subscribers backed the decision by the organized Labour.

Gatekeeper reports that the NLC signed a Memorandum of Understanding with the Federal Government after a meeting with the Secretary to the Government of the Federation on Monday night.

In the MoU signed by the SGF, Senator George Akume, NLC president Joe Ajaero, and the Minister of Labour and Employment, Muhammadu Dingyadi, and the National Secretary of NLC, Emmanuel Ugboaja, both parties agreed to set up a technical committee to resolve gray areas in the 50 percent telecom tariff approval.

However, NLC reiterated its rejection of the tariff hike.

“Arising from the meeting convened by the Federal Government of Nigeria on the proposed 50% hike in telecommunications tariffs in the country, which the Nigeria Labour Congress (NLC) expressed strong opposition to, citing its potential negative impact on the Nigerian workers and the economy with a threat to proceed on a one-day nationwide mass protest, the following resolutions were reached: That there is a need for the parties to sit together in a technical group to resolve most of the thorny areas raised during the discussion; consequently, a 10-man joint committee was set up of five (5) representatives each from the Federal Government and the Nigeria Labour Congress (NLC); and the committee shall conclude and submit its deliberations within two (2) weeks from this 3rd day of February, 2025.

“The parties call on the Nigerian people to remain calm while this committee concludes its assignment,” the communique after the meeting stated.

Earlier, a civic society organisation known as the National Civil Society Council of Nigeria, NCSCN, had announced the suspension of its planned protest against the 50 percent tariff hike.

Recall that last week, NLC announced Tuesday, 4th February, 2025, as a date for a one-day mass protest against the telecom tariff hike.

In a notice last Thursday by NLC National Secretary, Emmanuel Ugboaja, the union had already asked the state congress and affiliate union to mobilise for Tuesday’s mass protest.

This comes after the Nigerian Communications Commission on January 2025 approved a 50 percent telecommunications tariff hike for operators.

The approval has sparked tariff hike controversy in Nigeria’s telecom sector.

NLC and other telecom subscribers had opposed the tariff implementation, citing the persistent economic hardship Nigerians already face.

Subscribers back nationwide protest suspension.

 

DAILYPOST

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