The president said about 2.1 trillion of the budget will be financed through foreign and domestic loans, revealing that the loans will be used for capital projects.
Tuesday, December 22, 2015
Buhari Insists On $38 Oil Benchmark For 2016.
The president said about 2.1 trillion of the budget will be financed through foreign and domestic loans, revealing that the loans will be used for capital projects.
We’ll Hold You To Every Word, Dogara Tells Buhari.
Buhari had presented a N6.08 trillion budget before a joint session of the national assembly on Tuesday. In his presentation, the president projected a capital expenditure of N1.8trn, which is 30 percent of the total budget.
PDP Promoted Political Banditry For 16 Years –Umeh
20 Things Nigerians May Experience In 2016 Under Buhari’s Govt, By Fayose
In a statement personally signed by Fayose, yesterday, he said: “Fellow Nigerians, I want you to take note of the followings that will unavoidably happen under the Buhari-led government in 2016.”
1. Workers Strike: There will be so much industrial unrest, especially in the first quarter of the year.
2. Subsidy: There will be removal of fuel subsidy and petrol (PMS) will sell over and above N100/litre, leaving the masses in more serious hardship. Product will not be available and long queue in petrol stations will persist throughout the first quarter of 2016 and beyond.
Budget Process In Nigeria Is ‘A Joke’, Says Utomi.
Speaking on Sunrise Daily, a breakfast programme on Channels Television, Utomi alleged that there is no discipline in the way the government goes about the implementation of budget.
He said he prefers using his “valuable time” for more profitable things than analysing the country’s budget.
“For more than fifteen years I don’t discuss budget in Nigeria, because I consider the budget process as a joke,” he said.
THE QUESTION: With OPEC Oil At $30, Is Buhari’s $38 Budget Benchmark Feasible?.
The price is above the $30.74 per barrel rate of the Organisation of Petroleum Exporting Countries (OPEC), which coordinates petroleum policies of its member countries –Nigeria is one.
According to OPEC secretariat calculations, the price of a basket of twelve crude stood at 30.74 dollars per barrel on Monday, compared with $31.63 the previous Friday.
The price has fallen over $5 in the past one month, with Western Texas Intermediate (WTI) trading at $35.81 and Brent crude at $36.05 a barrel – its weakest since July 2004 – before recovering slightly to $36.56 early on Tuesday.
Fuel Subsidy Removal Inevitable – APC Chair, Oyegun
The national chairman of the All Progressive Congress, APC, John Odigie-Oyegun, has stated that the eventual removal of fuel subsidy is inevitable.
He said the gradual removal of subsidy is necessary in view of emerging and current realities.
Mr. Odigie-Oyegun made the disclosure on Tuesday when he received a delegation of the APC National Coalition for Peace and Mobilization on a courtesy visit to him at the party’s national secretariat in Abuja.
He said the gradual removal of subsidy is necessary in view of emerging and current realities.
Mr. Odigie-Oyegun made the disclosure on Tuesday when he received a delegation of the APC National Coalition for Peace and Mobilization on a courtesy visit to him at the party’s national secretariat in Abuja.
2016 Budget A Big Fraud - PDP
The party faulted the President’s decision to borrow N2 trillion, describing it as the height of recklessness and deceit from a government that trends on propaganda.
In a statement issued on Tuesday by its National Publicity Secretary, Chief Olisa Metuh, the PDP accused the government of trying to use bogus welfare programme and phantom capital projects as cover and conduit to syphon the funds to satisfy partisan interests, particularly to settle huge campaign debts.
EFCC Advocates Time Frame for Corruption Cases
he EFCC boss made the plea while receiving members of the Senate Committee on Anti-Corruption and Financial Crimes led by its Chairman, Senator Chukwuka Utazi, who were in the Commission on an oversight visit. The anti graft czar sought the support of the Senate Committee to make the anti graft war successful saying, “we need the support of this Committee to achieve the mandate given to us to help rescue our country from the shackles of corruption”.
N28.3bn Arms Scam: Yuguda,Dasuki Others Granted Bail
Justice Peter Afem of the FCT High Court, sitting in Maitama, Abuja, on Monday, December 21, 2015, granted a former Minister of State for Finance, Bashir Yuguda; former National Security Adviser, Colonel Sambo Dasuki ( rtd) and four others bail in the sum of N250m each.
Yuguda alongside Col.Dasuki( rtd.); Shuaibu Salisu, a former Director of Finance and Administration, Office of the National Security Adviser; Attahiru Dalhatu Bafawara, a former governor of Sokoto State; Sagir Attahiru, Bafarawa’s son and Dalhatu Investment Limited are being prosecuted by the Economic and Financial Crimes Commission, EFCC, on a 22-count charge bordering on conspiracy, bribery, abuse of office and criminal breach of trust to the tune of N28, 315, 000,000.00
$8.4m Scam: Lagos Court Registrar Bags Ten Years
Justice Lateef Lawal Akapo of a Lagos State High Court sitting in Ikeja, on Monday convicted and sentenced a former court registrar, Mrs Rosulu Idowu Oluronke, to 10 years Imprisonment.
Oluronke, a former registrar to Justice Joseph Oyewole, was prosecuted on a two- count charge of conspiracy and obtaining money under false pretence, preferred against her by the Economic and Financial Crimes Commission, EFCC. She was initially charged alongside a Lagos socialite, Fred Ajudua before Justice Oluwatoyin Ipaye for defrauding a former Chief of Army Staff, General Ishaya Bamaiyi ( retd), the sum of $8.4Million ( Eight Million, Four Hundred Thousand United States Dollars), while he was being detained in Kirikiri Maximum Prison over his trial for the attempted murder of the late publisher of Guardian Newspapers, Chief Alex Ibru.
Breakdown Of Nigeria’s 2016 Budget
Nigeria’s President, Muhammadu Buhari, on Tuesday presented a 2016 budget proposal of 6.07 trillion Naira. Nigeria’s 2016 Budget is based on a crude oil benchmark price of $38 per barrel and a production estimate of 2.2 million barrels per day for 2016.
Assad Reveals Which Countries 'Transformed Syria Into Hotbed of Terrorism'
According to Syrian President Bashar-al-Assad, the fight against terrorism “should be a stable, sustainable principle” based on a real social support. The Western military activities in Syria are inefficient, Syrian President Bashar-al-Assad said in an interview with Die Presse.
“We have fought against terrorism from the very outset,” the politician stated. “You know, the fight against terrorism should be a stable, sustainable principle. The Western policy towards terrorism is not objective, not realistic and currently not very productive,” he added.The US-led campaign has been targeting Daesh (Islamic State) terrorists in Syria for over a year, but has done little to halt the terrorist organizations activities.
5 of Top 5 First Date Tips For Men
5) Take control of the details.
This is in line with the point on planning, but make sure you plan those little things that she won't be expecting you to. Those little surprises will make her not even blink twice to go out with you again. Make sure she has a ride home before the subject even comes up at the end of the day. For example, have a cab number on hand or give her a ride yourself. Bring a nice little gift for her that is different than the standard flowers just to show her she is on your mind. It is the gesture, not the amount you spend, that makes the point to her through these details that you are a guy that is different than the rest.
Treasonable Felony: FG files fresh charges against Pro-Biafra seperatist leader Nnamdi Kanu
The fresh case filed and signed by the Director, Public Prosecution, Mohammed Saidu Diri, for the Attorney-General of the Federation comes barely a week after Justice Adeniyi Ademola ordered the unconditional release of the accused since there was no pending charges against him about two months after his detention in October.
Check out Top 10 Business Tips For Newbies
1. Love What You Do
It's a smart ideo to choose an area which you as of now have an interest for, for various reasons. You as of now have some knowledge and expertise in this area which is precious and you won't as a matter of course be beginning without any preparation. In the event that you picked an area which is as of now of enthusiasm to you it won't inexorably feel like work, particularly when difficult situations arise. Regardless of which zone you area you will without a doubt have harsh patches, when this happens you are much more prone to move forward on the grounds that you have a connection, a personal stake and an enthusiasm. On the off chance that you have no hobby you'll be considerably more likely to quit at the first sign of inconvenience.
Budget presentation: Read Full text of Buhari's speech at the NASS
I am honoured and privileged to present the 2016 Budget proposal. This is my first address before this joint session of the National Assembly. I have come here today, not only to address members of the National Assembly, but also to speak directly to the men and women who placed us here.
Zimbabwe to make Chinese yuan legal currency after Beijing cancels $40m debts
Zimbabwe has announced that it will make the Chinese yuan legal tender after Beijing confirmed it would cancel $40m in debts, AFP reports.
"They [China] said they are cancelling our debts that are maturing this year and we are in the process of finalising the debt instruments and calculating the debts," minister Patrick Chinamasa said in a statement.
Chinamasa also announced that Zimbabwe will officially make the Chinese yuan legal tender as it seeks to increase trade with Beijing. Zimbabwe abandoned its own dollar in 2009 after hyperinflation, which had peaked at around 500bn%, rendered it unusable.
Greek Parliament Recognizes Palestinian State
The Greek parliament on Tuesday adopted a resolution recognizing the State of Palestine, a RIA Novosti correspondent reported. — Greek Parliamentary Speaker Nikos Voutsis read the text of the resolution and asked those lawmakers who supported it to rise. Lawmakers voted in favor of recognizing Palestine's statehood. The resolution recognizes the Palestinian State within the 1967 borders with its capital in East Jerusalem.
High Demand for Russia's S-400 'Sends Shivers Down Washington's Spine'
China has become the first nation to purchase the S-400 Triumf. Moscow and Beijing are said to have inked the $3-billion deal last year and China could receive the first batch as early as 2016.
New Delhi has long been eager to add the "mobile and extremely effective" defensive system to its arsenal, the analyst added. Recent reports suggest that Russia and India will sign an agreement, estimated to be worth $6 billion, in the near future. New Delhi is expected to buy 5 regimental units of the S-400.
FIFA Bans Blatter, Platini For Eight Years
A FIFA court on Monday banned Sepp Blatter and Michel Platini for eight years after finding them guilty of abusing their positions over a $2 million payment that was made to the suspended head of European football.
Both were “immediately” banned from all football activity. Blatter, FIFA’s president since 1998, was fined 50,000 Swiss francs ($50,000). Platini was fined 80,000 Swiss francs.
A statement by the court said both showed “abusive execution” of their powers. In the case of Platini, the court said he “failed to act with complete credibility and integrity, showing unawareness of the importance of his duties.”
Monday, December 21, 2015
The IMF Changes Its Rules to Isolate China and Russia
by Michael Hudson for the Unz Review
As Russia and Asia move to circumvent the stranglehold of an aging, U.S. dominated international financial and legal system with its promise of endless austerity and privatization by foreign investors, the IMF and World Bank double-down by making it more difficult for them to transact business and administer credit.
Rape Accusation Was To Punish My Boyfriend – Teenager
There is a new twist to the alleged rape case of a 19-year-old teenager, Gbemisola, as she now claims to have framed 24-year-old Kunle in order to punish him. PUNCH Metro gathered on Friday that Gbemisola and Kunle were in an intimate relationship and had sexual intercourse by mutual consent.
It was further learnt that Gbemisola had sent some of her Unclad pictures to Kunle on Whatsapp before things went awry between them. Our correspondent had reported on Friday that Gbemisola, a caterer, had alleged that Kunle asked her out, which she turned down because she had a boyfriend already. She had alleged that the suspect lured her into his parents’ house in Agiliti Estate, Ketu, and raped her.
It was further learnt that Gbemisola had sent some of her Unclad pictures to Kunle on Whatsapp before things went awry between them. Our correspondent had reported on Friday that Gbemisola, a caterer, had alleged that Kunle asked her out, which she turned down because she had a boyfriend already. She had alleged that the suspect lured her into his parents’ house in Agiliti Estate, Ketu, and raped her.
Witches Advise Rivers Governor Wike.'pray Harder Not To Lose.'
APC Woos Igala Sons, Daughters For Deputy Gov Position In Kogi
As the issue of who becomes the deputy governor to governor-elect Alhaji Yahaya Bello intensifies, the All Progressives Congress, APC, has turned its searchlight on the Igalas. The deputy governor-elect, Hon Faleke had several times said that he would not betray Prince Abubakar Audu’ s political empire so soon by denying the joint ticket the people overwhelmingly voted for, stressing that if the party does not deem it necessary for him to continue from where Audu stopped, he would not change his loyalty so soon, despite the party’s insistence that he must be the deputy.
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