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BREAKING: Reps pass amended 2024 budget of N35.055trn

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The House of Representatives recently made significant legislative strides concerning Nigeria’s fiscal and labor policies. Here’s a breakdown of the key developments:

  1. 2024 Appropriation Bill:
  • The House passed a bill to increase the 2024 Appropriation from N28.7 trillion to N35.055 trillion. This adjustment was made during the consideration and adoption of Clauses 1 to 13, based on the recommendation of the House Committee on Appropriation.
  • The breakdown of the proposed budget includes:
    • N1,742,786,788,150 for Statutory Transfers
    • N8,270,960,606,831 for Debt Service
    • N11,268,513,380,853 for Recurrent Expenditure
    • N13,773,275,994,384 for Capital Expenditure (Development Fund)
  1. Highlights of the Budget:
  • The budget aims to support critical infrastructure projects across Nigeria, including road and rail developments such as the Lagos-Calabar and Sokoto-Badagry road projects, as well as various rail lines.
  • It’s termed as a “budget of renewed hope” with a focus on funding legacy projects that are crucial for national development.
  1. National Minimum Wage Amendment:
  • The House also passed a bill to amend the National Minimum Wage Act 2019, proposing to increase the minimum wage from N30,000 to N70,000. This amendment also seeks to reduce the review period from five to three years.
  • The rationale behind the amendment is to address the rising cost of living and ensure that the minimum wage remains adequate for workers across Nigeria.
  1. Legislative Process:
  • Both bills passed through Third Reading after thorough consideration and debate in the House, indicating a significant step towards implementing key fiscal and labor reforms.

These legislative actions reflect the House of Representatives’ commitment to addressing economic challenges and supporting infrastructure development while ensuring the welfare of Nigerian workers through appropriate wage policies.

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Mauritania’s Tah succeeds Adesina as 9th AfDB President

Tah was elected to succeed Adesina after rounds of voting conducted by the AfDB Board of Governors during the Bank’s Annual Meetings held in Abidjan, Côte d’Ivoire.

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Mauritania’s Sidi Ould Tah has been elected as the ninth president of the African Development Bank Group (AfDB) as Nigeria’s Akinwumi Adesina prepares to bow out.

The Bank announced his election on its website on Thursday.

Adesina’s 10-year tenure will end this year and Tah is expected to assume office on September 1, 2025.

Tah was elected to succeed Adesina after rounds of voting conducted by the AfDB Board of Governors during the Bank’s Annual Meetings held in Abidjan, Côte d’Ivoire.

The Board comprises finance ministers and central bank governors from the Bank’s 81 member countries.

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JUST IN: Appeal Court Affirms Okphebholo as Edo Governor

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‎‎The Court of Appeal in Abuja has affirmed Monday Okphebholo as duly elected in the September 21, 2024 Edo Governorship polls, as it affirms the decision of the Tribunal which on April 2 dismissed the petition of Asue Ighodalo of the People’s Democratic Party (PDP) for lacking merit. ‎‎

A three-man panel of the Appeal court, presided over by Justice Mohamed Danjuma, restated the position of the Tribunal which held that the PDP failed to provide sufficient and credible evidence to substantiate their claims of electoral malpractice, irregularities, and non-compliance with the Electoral Act.‎‎

The panel held that the PDP failed to provide sufficient and credible evidence to substantiate their claims of electoral malpractice, irregularities, and non-compliance with the Electoral Act. ‎‎

The Appellate Court agrees with the Tribunal that the Bimodal Voter Accreditation System (BVAS) Machines which the appellants tendered were merely ‘dumped’ as they weren’t demonstrated to prove overvoting.

‎‎This the Court held after it earlier expunged the 133 BVAS machines admitted in evidence at the Tribunal stage of the Governorship tussle. ‎‎

Ighodalo and the PDP were further faulted by the Appellate Court for failing to tender the voter register to prove overvoting.

The Court further adds that BVAS extract doesn’t constitute items with which to prove overvoting. ‎‎It says the documents tendered by the PDP at the Tribunal did not, on their own, prove overvoting, non-holding or cancellation of elections at the polling units.

‎‎To further puncture the case of the PDP, the panel says the 19 witnesses called by the appellants during the Tribunal hearing didn’t help their case.

It says the majority of them did not witness what they spoke about. Moreso, it adds they were insufficient to prove irregularities in polling stations at over 4,000 locations.

‎‎Nigeria’s electoral body, INEC, had declared Okpebholo the winner with 291,667 votes, against Asue Ighodalo of the PDP who garnered 247,274 votes.

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Betta Edu Congratulates President Tinubu On His Two Years In Office

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The former Honorable Minister of Humanitarian Affairs and Poverty Alleviation. former, Dr Betta Edu, has congratulated President Bola Ahmed Tinubu on his Two Years in Office.

Edu, who joined millions of Nigerians and members of the All Progressives Congress, APC to heartily congratulate the president on his second year in office as the President and Commander-in-Chief of the Armed Forces, Federal Republic of Nigeria said the president has been a true father to all.

Her statement reads: Mr. President, Father of the nation.

I join millions of Nigerians and members of our great party, the All Progressives Congress, APC to heartily congratulate you on your second year in office as the President and Commander-in-Chief of the Armed Forces, Federal Republic of Nigeria.

Despite the obvious challenges, your dedication to transforming Nigeria and changing the economic landscape by improving the lives of the citizens in the long run is visible, even to the greatest critics.

It’s has not been an easy ride navigating terrains that even lions won’t dare! Your commitment to hard work and a result oriented leadership is unprecedented.

The focus of your administration on economic rejuvenation is evidently changing the narrative and Nigerians are witnessing the positive impacts, including infrastructural development, education for all, affordable housing, huge improvement in the security situation among others, in just two years.

These positive developments underscore the renewed hope agenda of your administration.

Your Excellency, this was the toughest two years of your four + four years journey leading our nation.

The right foundation has been laid; it’s time for the fruits to blossom.

Forward forever, Nigeria will experience a rebirth, under your dynamic and visionary leader, A Lion is never distracted by the bleats of goats.

Mr. President keeps raising the bar….her statement reads.

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