Headlines

President Bola Tinubu today presented the 2024 Appropriation Bill to a joint session of the National Assembly, outlining his administration’s priorities for the upcoming fiscal year.

Themed “Budget of Renewed Hope,” the proposed budget focuses on national security, job creation, economic stability, human capital development, poverty reduction, and social security.

Addressing the joint session, President Tinubu said the nation’s internal security architecture will be overhauled to enhance law enforcement capabilities with a view to safeguarding lives, property, and investments across the country.

He said the proposed budget prioritizes human capital development, with particular attention given to children, because human capital remains the most critical resource for national development.

“To improve the effectiveness of our budget performance, the government will focus on ensuring value for money, greater transparency, and accountability. In this regard, we will work more closely with development partners and the private sector.

“To address long-standing issues in the education sector, a more sustainable model of funding tertiary education will be implemented, including the Student Loan Scheme scheduled to become operational by January 2024,” the President affirmed.

Speaking on the economy, President Tinubu said a stable macro-economic environment is crucial in his administration’s bid to catalyze private investment and accelerate economic growth; hence, his government shall continue to implement business and investment friendly measures for sustainable growth.

“We expect the economy to grow by a minimum of 3.76 percent, above the forecasted world average. Inflation is expected to moderate to 21.4 percent in 2024. In preparing the 2024 Budget, our primary objective has been to sustain our robust foundation for sustainable economic development. A critical focus of this budget and the medium-term expenditure framework is Nigeria’s commitment to a greener future.

“Emphasizing public-private partnerships, we have strategically made provisions to leverage private capital for big-ticket infrastructure projects in energy, transportation, and other sectors. This marks a critical step towards diversifying our energy mix, enhancing efficiency, and fostering the development of renewable energy sources. By allocating resources to support innovative and environmentally conscious initiatives, we aim to position Nigeria as a regional leader in the global movement towards clean and sustainable energy.

“As we approach the COP28 climate summit, a pivotal moment for global climate action, I have directed relevant government agencies to diligently work towards securing substantial funding commitments that will bolster Nigeria’s energy transition. It is imperative that we seize this opportunity to attract international partnerships and investments that align with our national goals. I call upon our representatives to engage proactively to showcase the strides we have made in the quest to create an enabling environment for sustainable energy projects.

“Together, we will strive for Nigeria to emerge from COP28 with tangible commitments, reinforcing our dedication to a future where energy is not only a catalyst for development but also a driver of environmental stewardship,” he said.

The Supreme Court on Wednesday ruled that both old and new naira notes will remain legal tenders.

The court ordered that the old N200, N500, and N1000 notes continue to co-exist till further notice.

The apex court ruled that the old and new notes remain in use until the Federal Government puts a process in place for its replacement or redesign after due consultation with relevant stakeholders.

Details later…

…….. receives father’s blessings

Pastor Isaac Oyedepo, the son of Bishop David Oyedepo, the founder of the Living Faith Church Worldwide, has unveiled his own ministry.

Isaac disclosed this when he shared a YouTube video titled “Unveiling of the Isaac Oyedepo Evangelistic Ministries” on his X account on Tuesday, November 28.

In the YouTube video, Bishop Oyedepo, not only ministered but also prayed for Isaac and his wife, Ayomitide, as they both knelt.

Bishop Oyedepo was heard saying in part, “As hands are laid on you, I pray for unusual grace for sustainable connectivity that will keep you going without sweat.

“I pray that impact will be your goal not good preaching but great impact and I pray that your life will interpret your message in the name of Jesus.

“As you step into this new phase of your assignment, may you be clothed with humility. I have never begged, yet I have never lacked, I have never borrowed yet I have never lack.”

The younger Oyedepo had in October clarified that there were no complications in his relationship with his family, particularly his father, and he remained a steadfast member of the Living Faith Church.

Rivers State Governor Sim Fubara has been warned to prepare for a tough battle ahead, following his face-off with the Minister of the Federal Capital Territory (FCT), Nyesom Wike.

The warning came from the Spiritual Leader of INRI Evangelical Spiritual Church, Primate Elijah Ayodele, who said that Fubara’s second-term ambition will be “tough” and that he will face similar challenges to those faced by former Lagos State Governor Akinwummi Ambode.

Ayodele urged Fubara to seek God’s help, as only he can change Wike’s mind and ensure that Fubara is not impeached. He also warned the governor to be careful of moles in his camp who are working to remove him from office.

According to Ayodele, “He will still face impeachment, but I see him surviving it. The house will continue to be troubled. They will make him uncomfortable and make his first term miserable, but he will survive it if he turns to God for help.”

“There is no amount of what he does; it is only God that can fight for him. There will be so many moles in his camp. It’s unfortunate that this is happening at a time when Fubara is willing to work.

“They won’t appreciate his efforts and they will want to mess him up. Those who are against his governorship will also add to it. The governor must be careful, put his security together and be very prayerful,” he added.

The rift between Wike and Fubara began less than six months after Fubara took office. Wike’s loyalists in the Rivers House of Assembly moved to impeach Fubara, but the governor vowed to resist such a move.

Last week, Wike accused Fubara of burning down the state House of Assembly and described the governor as an ingrate.

The federal government has ordered airline companies in the country to pay travellers compensation for delayed and cancelled flights.

The Minister of Aviation and Aerospace Development, Festus Keyamo, made the declaration during a meeting with the heads of agencies under the ministry

Keyamo insisted that defaulting airlines must pay compensations for flight cancelations and delays.

“We are not deaf to the cries of Nigerians about delays and canceled flights. The law is there and we are looking at how to enforce those laws for compensation of Nigerians who bear the brunt of cancellation of flights and disrupting the activities,” Keyamo said.

“The process of grounding the airline or taking the airlines to court will create more problems.

“So if the reason for the delay and cancellation of flight is their fault they must pay compensation. And what I am suggesting is that if they don’t get cash back they must get some rebate when they buy next ticket.

“I have set up a committee to look into it such that they can generate a code that they can use when they want to purchase the next ticket.

“We are concerned about the passenger satisfaction and the safety of the air travelers,” he added.

Keyamo directed the Director-General of the Nigerian Civil Aviation Authority to prepare a weekly catalogue of cancelled flights.

He also directed the Nigeria Safety Investigation Bureau to conclude all incidents of air accidents and mishaps in the next 10 days.

He said: “For the recent incidents that happened recently, some minor, and others classified as serious incidents although there were no fatalities.

“The NSIB is investigating these incidents and I have directed them that within 10 days from today they must submit their report of the incidents and what actually transpired.”

President Bola Tinubu on Tuesday, November 28, urged the Senate to consider and approve his request to obtain a loan of $8,699,168,559 and €100 million as part of the 2022 – 2024 external borrowing plan of the federal government.

Tinubu’s letter of request was read at plenary by Senate President, Godswill Akpabio.

The president noted that the World Bank and African Development Bank have indicated interest to support the loan with $1billion and N1.5billion respectively.

Tinubu in his letter titled: “2022-2024 external borrowing plan” said: “I write in respect of the above subject and to submit the attached Federal Government 2022-2024 external borrowing plan for consideration and early approval of the National Assembly to ensure prompt implementation of the projects.

The Senate may wish to note that the past administration approved a 2022-2024 borrowing plan by the Federal Executive Council (FEC) held on May 15, 2023.

“The project cuts across all sectors, with specific emphasis on infrastructure, agriculture, health, water supply, roads, security, and employment generation as well as financial management reforms.

“Consequently, the required approval is in the sum of $8,699,168,559 and €100 million

I would like to underscore the fact that the projects and programmes in the borrowing plan were selected based on economic evaluations as well as the expected contribution to the social economic development of the country, including employment generation, and skills acquisition.

“Given the nature of these facilities, and the need to return the country to normalcy, it has become necessary for the Senate to consider and approve the 2022- 2024 external abridged borrowing plan to enable the government deliver its responsibility to Nigerians.”

Senate President Akpabio thereafter referred the executive request to the Senate Committee on Foreign and Local Debts for further legislative work and to report at plenary in one week.

In the spirit of the Yuletide, leading financial institution, Fidelity Bank Plc, has announced plans to host the maiden edition of the Fidelity Family Weekend.

Scheduled to hold on Saturday, 16 and Sunday, 17 December 2023 at the Fidelity Grounds, Oniru, Victoria Island, Lagos, the event is designed to create a fun and relaxed atmosphere for children to play, parents to relax and young adults to unwind during the festive season.

“The Yuletide season is all about coming together and spending quality time with loved ones especially as we wind down the year in anticipation of a new year.

As a bank committed to providing memorable experiences for its clients, we pioneered the Fidelity Family Weekend to fete host our customers and clients to two fun filled days of family entertainment.

We believe this is one more way of thanking our customers for a successful year,” noted the Divisional Head, Brand & Communications, Fidelity Bank Plc, Meksley Nwagboh, Ph.D. in a chat with journalists.

The Fidelity Family Weekend would run from 10am to 10pm daily and would feature dedicated fun activities for children including dancing competitions, bouncing castles, train rides, Santa’s Grotto, balloon games, amongst others.

Similarly, the programme for the adults’ section would feature exciting activities like karaoke competitions, games arcades, couple games, musical performances and so many more fun games that are geared towards providing a memorable experience for guests.

Entry into the event is free but guests are required to pre-register at www.fidelitybank.ng/family-weekend before 12 December 2023.

Commenting further, Dr Nwagboh said, “As a bank dedicated to helping individuals grow, businesses thrive and economies to prosper, we boast of an array of products and services for our diverse client base.

These include the Fidelity SWEETA account for young children below the age of 17 years, Fidelity Flex for teenagers and undergraduates; and even the Fidelity Vintage Account for senior citizens; all tailor-made to meet our customer’s specific needs. The Fidelity Family Weekend is therefore another demonstration of this devotion to provide platforms for our customers to fulfill their lifestyle requirements”.