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Breaking: Lagos Assembly Passes N2.267trn As Budget For 2024
The Lagos State House of Assembly on Friday passed a total of N2,267,976,120,869 as the 2024 budget size of the State at a plenary session presided over by the Speaker, Rt. Hon. Mudashiru Obasa.
The budget representing 58 percent Capital Expenditure and 42 percent Recurrent Expenditure was approved following a unanimous voice vote by all the lawmakers present at the sitting.
“A bill for a law to authorise the issuance and appropriation of N952,430,566,998 from the Consolidated Revenue Fund for Recurrent Expenditure and N1,315,545,553,871 from Development Fund for Capital Expenditure thereby totaling a budget size of N2,267,976,120,869 for the year ending 31st December, 2024 be passed into law,” the Speaker had raised on the floor as the budget report was read a third time.
Dr. Obasa, thereafter, commended the lawmakers for their dedication and cooperation at ensuring a quick passage of the Appropriation Bill while directing the Clerk of the House, Barr. Olalekan Onafeko, to forward a copy of the approved budget to Governor Babajide Sanwo-Olu for assent.
Prior to its passage, Hon. Sa’ad Olumoh, chairman of the joint-committee on Budget and Finance, had presented a report containing some recommendations to the House.
Among the recommendations is that the Public Works Corporation, the Water Corporation and the state-owned tertiary institutions be placed on first-line charge to enable them perform optimally.
Governor Sanwo-Olu had on Wednesday, December 13, 2023, presented the 2024 budget proposal of N2.246 trillion to the House of Assembly saying that the state anticipated internally generated revenue of N1.251 trillion and federal government allocations of N596.629 billion.
Recall that Obasa, during the presentation of the budget by the governor, urged the government should ensure a functional budget.
“It is highly important for us to apply the right indices towards ensuring a performing and functioning budget that would lift our people out of poverty and reposition the state towards infrastructural growth and renewal.
“Palliatives should move from just giving people garri, rice, beans or even money. We should have a direction that is focused, impactful and deeply backed up by effective policy implementations.
“For instance, in the name of palliative care, let there be provision of drugs at all public hospitals in the state at subsidised rates. At the same time, focus should be on a downward review of treatment costs in these hospitals,” the Speaker said during the budget presentation.
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NNPCL, Dangote Sign Agreement For 10-Year Gas Supply
A subsidiary of the Nigerian National Petroleum Company Limited (NNPCL), the NNPC Gas Marketing Limited (NGML), has executed a Gas Sale and Purchase Agreement (GSPA) with Dangote Petroleum Refinery and Petrochemicals FZE.
The agreement, signed by the Managing Director, NGML, Barr. Justin Ezeala and the President/CEO of the Dangote Group, Aliko Dangote on Wednesday at the Corporate Head Office of Dangote in Falomo, Lagos State, outlines the supply
of natural gas for power generation and feedstock at the Dangote Refinery, in Ibeju-Lekki, Lagos State.
This was contained in a statement by NNPCL, Chief Corporate Communications Officer, Mr. Olufemi Soneye.
He said the agreement is a major milestone in line with President Bola Ahmed Tinubu’s policy of utilising Nigeria’s abundant gas resources towards revamping the nation’s industrial growth and kickstarting its economic prosperity.
This development, which sees a huge investment of this nature penned with zero capital expenditure (CAPEX) outlay, has been described by many as unprecedented in the history of NGML or any gas Local Distribution Company (LDC) in the country.
\Under the terms of the agreement, NGML will supply 100 million standard cubic feet per day (MMSCF/D), 50MMSCF/D being firm supply and the rest 50MMSCF/D interruptible natural gas supply to the refinery for an initial period of 10 years, with options for renewal and growth.
The statement also revealed that the collaboration is a significant step toward ensuring the operational success
of the Dangote Refinery and enhancing Nigeria’s domestic gas utilization.
NNPC Ltd, through NGML, its gas marketing subsidiary, continues to lead efforts in promoting the use of domestic gas to support industries and businesses nationwide.
The agreement represents a milestone for both NNPC Ltd and Dangote Refinery, aligning with their shared commitment to boosting local production and providing vital products for the benefit of all Nigerians.
It is also a further proof of NGML’s unwavering commitment to business excellence and fulfilling NNPC Ltd’s core mandate of ensuring Nigeria’s energy security through the execution of strategic gas projects across the country.
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US Election: Trump Returns To Washington, Meets President Biden At White House
After much anticipation, the United States, US, President-elect, Donald Trump has returned to the White House.
Trump met with President Joe Biden at the White House on Wednesday.
He walked into the White House triumphantly for the first time in four years to meet Biden.
Biden invited Trump for the traditional visit, a show of the coming Jan. 20 peaceful transfer of power in the American democracy between the current U.S. leader and the incoming chief executive.
But the Biden-Trump get-together is rife with political tension.
Biden, a Democrat who ran for reelection for some time, sought to defeat Trump, the Republican, before ending his campaign in July after faltering badly in a debate.
Biden quickly endorsed his vice president, Kamala Harris, to succeed him.
Kamala, however, failed to defeat Trump at the polls as the former president won by a wide margin.
When Biden defeated Trump in 2020, Trump offered no White House invitation to meet him ahead of the inauguration and then left Washington two hours before Biden’s swearing-in on the steps of the U.S. Capitol.
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Gunmen Attack Military Checkpoint In Abia, Kill Two Soldiers
Gunmen attacked an army checkpoint early on Wednesday at Ekenobizi, a border community between Abia and Imo states in Umuopara, Umuahia South Local Government Area, killing two soldiers.
A military source, who spoke on the condition of anonymity, said the attack occurred around 6:18 am. The gunmen arrived in a white Lexus (350/400) model, although the exact number of attackers could not be confirmed.
Confirming the incident in a press release on Wednesday, Lieutenant Colonel Jonah Unuakhalu of the Joint Task Force South East Operation UDO KA said: “In the early hours of today, 13 November 2024, troops of the Joint Task Force South East Operation UDO KA, deployed at a checkpoint along the Umuahia – Owerri Road in Umuahia South Local Government Area of Abia State, came under attack by the irredentist group Indigenous People of Biafra and its armed affiliate, the Eastern Security Network.
“During the attack, the gallant troops were able to repel the assault, forcing the attackers to retreat in disarray with gunshot wounds, abandoning one Sienna and one Lexus Jeep used in the attack. However, in the ensuing firefight, two soldiers paid the supreme price.”
The Joint Task Force appealed to residents of the South East, particularly those in Abia State, for credible information to help track down the fleeing attackers and combat criminal elements in the region.
The force reiterated its commitment to protecting lives and property in line with global best practices and the rules of engagement.
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