Connect with us

News

FG To Provide Free Covid-19 Vaccine For 103 Million Nigerians

The Federal Government has made provision in the 2021 budget to pay for the vaccination of around 103 million Nigerians or 50 percent of the population against COVID-19.

Published

on

The Federal Government has made provision in the 2021 budget to pay for the vaccination of around 103 million Nigerians or 50 percent of the population against COVID-19.

Director General of the Budget Office of the Federation Ben Akabueze made this disclosure in Abuja on Tuesday during the budget 2021 budget breakdown.

According to Akabueze, there is a global alliance to support economically weak nations with vaccines, our understanding of the current plan is that we will be getting vaccines donations to cover up to 20 percent of our population but then the global standards says that to achieve herd immunity you have to vaccine at least 70 percent of the population and so there is a 50 percent of the population that we may be required to pay for their own vaccination”.

Already, there is an “inter-ministerial committee looking at this matters and the assurance is that government will do whatever is needful to keep the citizens and economy safe even if it means coming back with a supplementary budget.”

Advertisement

The National Assembly reviewed the 2021 budget upward by N500 billion to accommodate purchase and distribution of vaccines against Coronavirus.

On her part, the finance minister Mrs. Zainab Ahmed prayed that the situation should not arise to warrant another lockdown.

According to her, “we hope we never have to lockdown the economy like we did before because the impact is very high on the economy but then if the health challenge becomes so large, and government has no option then that step might be taken.

“Right now what we are doing as government, is to reinforce the measures that needs to be taken by government, by companies, by individuals to mitigate the impact from the covid to reduce the expansion and also obviates the health challenges”.

“Currently the vaccines are now out and they are available and Nigeria is in the process of deciding and beginning to acquire its own vaccine so we do hope that a lockdown the type we’ve seen in 2020 will not happen.”

Advertisement

On the budget proper, the finance minister stated that in 2020, the federal government over-spent what was appropriated by the National Assembly for expenditure by 101 percent.

According to Zainab Ahmed, “on the expenditure side, N9.97 trillion was appropriated (excluding GO Project tied loans), while N10.08 trillion (representing 101%) was spent.” She attributed the excess spending on unforeseen expenditures brought on by the Coronavirus pandemic.

Zainab Ahmed stated that “of the expenditure, N3.27 trillion was for debt service, and N3.19 trillion for Personnel cost, including Pensions” amounting to N6.46 trillion. However, she did not elaborate on how government spent the balance of N3.62 trillion.

To retire maturing bonds to local contractors, she said sum of N200 billion had been provided for in the new budget, representing 1.68 per cent of the total budget, adding that, “overall, N5.60 trillion has been provided for borrowing to finance the budget deficit”.

By the end of 2020, Zainab Ahmed disclosed that “N1.80 trillion had been released for capital expenditure (that is, about 89% of the provision for capital). Out of this, up to N118.37 billion was released for COVID-19 capital expenditure”.

Advertisement

For 2021, the aggregate revenue available to fund the year’s budget is projected at N7.99 trillion (36.9% higher than the 2020 projection of N5.84 trillion).

According to the finance minister, “to promote fiscal transparency, accountability and comprehensiveness, the budgets of 60 Government Owned Enterprises (GOEs) are integrated in the FGN’s 2021 Budget proposal.”

In aggregate, 30 percent of projected revenues will come from oil-related sources while 70 percent is to be earned from non-oil sources.

Zainab Ahmed lamented that “overall, the size of the budget has been constrained by our relatively low revenues”.

In 2021, overall budget deficit is projected to be N5.60trillion. This represents 3.93 percent of GDP.

Advertisement

The budget deficit is to be financed mainly by borrowings in this order: Domestic sources, N2.34 trillion; foreign sources, N2.34 trillion; Multi-lateral/Bi-lateral loan drawdowns, N709.69 billion and Privatisation Proceeds, N205.15 billion.

Where is the money coming from: The finance minister gave a breakdown of how the government hopes to source for funds to finance the budget in 2021. These include: Share of Oil Revenue N2,011,017,892, 674; Share of Dividend (NLNG), N208,540,960,000; Share of Minerals and Mining N2,650,393,903; Share of Non-Oil N1, 488,924,372,031.

Other sources of revenue open to the government she said include: Share of Company Income Tax (CIT) N681,718,292,330; Share of Valued Added Tax (VAT) N238,426,227,556; Share of Customs N508,269,596,837; Share of Federation Acct. Levies N60,510,255,308.

Government will also fund the budget from revenue from Government Owned Enterprises (GOEs) N2,173,860,133,098; GOEs Operating Surplus (80% of which is captured in Independent Revenue) (N825,023,025,138); Independent Revenues N1,061,898,590,939; Transfers from Special Levies Accounts N300,000,000,000; Signature Bonus/Renewals/Early Renewals N677,015,511,478; Domestic Recoveries/Assets/Fines N32,675,085,307.

Stamp Duties or electronic transfers as they are known now will fetch the government N500, 000,000,000; Grants and Donor Funding N354, 852,661,650; Transfer from Special Accounts for COVID-19 Intervention across the Federation; Transfers from Special Accounts; and Grants and Donations for COVID-19 Crisis Intervention Fund.

Advertisement

In all N7, 986,412,575,941 is available to fund the 2021 budget.

On tax wavers, Zainab Ahmed said government is assessing “what it’s costing us; we are now in the process of reviewing what can be scaled back because the size of the cost of the tax waver is quite significant in terms of revenue for the country”.

Speaking in government’s spate of borrowing, the Finance Minister said “we are working with the CBN to regularize the previous borrowing that have been made to turn them into formal borrowing by the Nigerian economy and to this extent, the CBN and I need to agree on the rates and the tenures and the cost of the borrowing, so we would be formally doing that in the early 2021 on the previous borrowing that has been made, and also projected borrowings in 2021. So we will design special instrument that limits what is done in terms of domestic borrowing from the CBN.”

When asked about the status of fuel subsidy in the country, Zainab Ahmed said government is “not going to bring back fuel subsidy, we didn’t make provision for fuel subsidy in the budget. The impact of what was done is reducing some of the cost components that are within the fuel subsidy template. No provisions have been made for subsidy of fuel; no provisions have been made for subsidy of electricity.

Speaking in similarly tone, the Director General Budget Office Ben Akabueze said “with respect to electricity subsidies, we have arears of subsidies. Accumulated amount due to market players and you will find that we have provided or embed in the current budget that is over N30billion provided to wind down those but what we are not providing for is a further build-up of subsidies because the plan is to finally exit that by 2021, latest 2022”.

Advertisement

On the issue of unclaimed dividends and dormant accounts, the finance minister said government is targeting as much as N850billion, “we have to get the exact report from CBN and the registrars to ascertain that so it could be realised into this special trust fund for unclaimed dividends and dormant account.”

She reiterated that “this is a special trust fund, it means government is keeping the money in trust for the beneficiaries at any time a registrar or a bank confirms that this is a true and bonafide beneficiary of this fund then government will release from that trust fund to the investors/bankers bank entitlement”.

In 2021 budget Government’s Ministries with large chunk of capital allocations are: Ministry of education N1, 146.8 billion, health N600.52 billion, defence and security sector N1, 114.16 billion; railway N11.61 billion for rehabilitation and railway tracking.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Natasha: SERAP sues Akpabio over failure to reverse suspension

Published

on

The raging controversy over the suspension of Senator Natasha Akpoti- Uduaghan has attracted yet another legal action following a suit by Socio-Economic Rights and Accountability Project (SERAP) against the Senate President, Godswill Akpabio over the failure to reverse her suspension.

It is the contention of SERAP that “the patently unlawful suspension of Senator Natasha Akpoti-Uduaghan, is based solely on the peaceful exercise of her right to freedom of expression.”

In the suit number FHC/ABJ/CS/498/2025, Akpabio is sued for himself and on behalf of all members of the Senate.

The Senate recently suspended Mrs Akpoti-Uduaghan for six months, after she reportedly ‘spoke without permission’ and ‘refused her new seat in the Senate chamber.’

Her salary and allowances have also been withheld for the duration of the suspension, and she has been barred from identifying herself as a senator.

Before the Abuja division of the Federal High Court, the group is seeking: “an order of mandamus to direct and compel Mr Akpabio to rescind the unlawful suspension of Mrs Natasha Akpoti-Uduaghan, reinstate her, and fully restore all her legislative rights, entitlements, and privileges.”

An order of perpetual injunction restraining the Senate from further suspending or taking any disciplinary action against Mrs Natasha Akpoti-Uduaghan solely for the peaceful exercise of her fundamental human rights.”

SERAP is equally seeking “a declaration that the application of sections 6(1)(2) of the Senate Rules, the Senate Standing Orders 2023 (as amended), to suspend Mrs Natasha Akpoti-Uduaghan violates her human rights and deprives her constituents of their right to political participation.”

It noted that given the impracticality of direct participation of all citizens, article 13 of the African Charter on Human and Peoples’ Rights provides that a citizen shall exercise political power either directly or through freely chosen representatives.”

“The suspension of Senator Akpoti-Uduaghan from the Senate has restricted and seriously undermined the ability of the residents of her Kogi Central Senatorial District to effectively participate in their own government.”

“The Senate has the obligations to uphold the rule of law and the provisions of section 39 of the Nigerian Constitution and Nigeria’s obligations under article 9 of the African Charter on Human and Peoples’ Rights and article 19 of the International Covenant on Civil and Political Rights.”

“Section 39 of the Nigerian Constitution 1999 [as amended] provides that, ‘(1) Every person shall be entitled to freedom of expression, including freedom to hold opinions and to receive and impart ideas and information without interference.’

“Under Article 9 of the African Charter on Human and Peoples’ Rights: ‘1. Every individual shall have the right to receive information. 2. Every individual shall have the right to express and disseminate his opinions within the law.’”

“Article 19(1) of the Covenant establishes the right to freedom of opinion without interference. Article 19(2) establishes the Senate’s obligations to respect and ensure ‘the right to freedom of expression,’ which includes the freedom to seek, receive and impart information and ideas of all kinds, either orally or in writing.”

“The Senate Standing Orders 2023 (as amended) should not and cannot set aside Mrs Akpoti-Uduaghan’s right to express herself and disseminate her opinions which is clearly guaranteed in section 39 of the Nigerian Constitution 1999 [as amended], and under the human rights treaties to which Nigeria is a state party.”

No date has been fixed for the hearing of the suit.

Continue Reading

News

Amnesty condemns NYSC for threatening Corper over video criticizing Tinubu

Published

on

Amnesty International has condemned the National Youth Service Corps (NYSC)’s threats and intimidation of a corps member, Ushie Uguamaye, who criticized Nigerian President Bola Ahmed Tinubu for inflation and economic hardship.

In a ‘X’ post, the group stated that it is her right as a citizen to express her unhappiness peacefully, while also asking the government to focus on addressing the issues she addressed rather than threatening to delete the video.

“It is perfectly within her right to express discontent peacefully. Instead of threatening her for her opinions on rampant inflation, the authorities should be prioritizing addressing the country’s economic woes,” Amnesty said.

The Lagos-based corps member expressed fear about claimed threats following her viral video criticizing President Bola Tinubu’s government.

In a video posted to her TikTok account #talktoraye on Saturday, Uguamaye voiced displeasure with Nigeria’s deteriorating economic situation, stressing that hard work becomes fruitless in the face of financial difficulties.

She openly lambasted Tinubu, describing him as a “terrible leader” and criticizing the government’s efforts to ameliorate citizens’ suffering.

Shortly after her video gained traction, Uguamaye alleged that she began receiving threats, reportedly from NYSC officials, pressuring her to take down the content.

“Dear Nigerians, they have my address. In case you guys don’t see me online, please you know who to hold accountable. I didn’t do anything wrong; I just asked that they work on the inflation.

“Why can’t I speak up? Being an NYSC corps member doesn’t mean I signed up my right to complain,” she said.

Amnesty, meanwhile, in their post, said millions of Nigerians are facing extreme poverty, which aligns with her post on TikTok, urging the government to find measures to urgently address it.

“Millions of people in Nigeria are facing extreme poverty. So far, the authorities have failed to put in place effective mitigation measures, leaving millions of people without the hope of getting out of the economic challenges and enjoying their human rights,” the group said.

Continue Reading

Politics

Damagun denies resignation rumors, calls it fake news

Published

on

The Acting National Chairman of the Peoples Democratic Party (PDP), Ambassador Umar Damagun, has dismissed reports of his resignation, labeling them as false and a deliberate attempt to mislead the public.

In a statement on Saturday, his Personal Assistant, Nuru Shehu Jos, clarified that Damagun remains in office, and the party’s constitution guarantees the National Chairman a four-year term.

The PDP also denied claims that Arise News was the source of the false resignation report, urging the public to ignore the misinformation.

The party warned those spreading the rumors to desist or face legal action, calling on members and stakeholders to remain united as the PDP strengthens its position ahead of the 2027 elections.

Continue Reading

Trending

Copyright © 2025 Naija Gatekeeper News