Tag Archives: Reduces

Senate Passes, Reduces 2016 Budget By N17bn

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The Senate, on Wednesday, passed the 2016 Appropriation Bill and reduced the budget size from the initial N6.077trn presented to the  federal parliament  by President Muhammadu Buhari on December 23, 2015, to N6.060trn, a difference of N17bn.

The federal lawmakers approved the N1.587trn as the  capital expenditure portion of the budget and the recurrent expenditure of N2.646.3trn.

They also approved N351.37bn as Statutory transfers, N1.475.3trn for Debt Service, and N2.2trn for Fiscal deficit.

The federal parliamentarians also adopted the oil benchmark of $38; Crude production of 2.2000m barrel per day and the exchange rate of N197 to $1 for the implementation of the budget.

Explaining how the difference of N17bn was identified, Chairman, Senate Committee on Appropriation, Senator Danjuma Goje, admitted that the 2016 budget proposal contained a number of errors of omissions,  particularly in the area of personnel cost.

He said his committee therefore filled some of the gaps would could still raise serious concerns in the course of the year because there were many outstanding cases.

Senate President, Bukola Saraki, explained after the formal passage of the appropriation bill that his colleagues had done his part and requested the president to do the needful by signing it to law for immediate implementation.
Credit: Punch

Presidency Revises 2016 Budget, Reduces Allocation For…

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The Presidency has drastically cut its N8.09 billion provision in the 2016 budget for the purchase of various brands of vehicles for State House operations during the year.

A review of the fresh copy of the budget uploaded to the website of the Budget Office of the Federation on Friday showed a massive cut by about 83.5 per cent in the total allocation for the vehicles.

The government will now spend only N1.34 billion to buy only five BMW saloon cars and jeeps as well as buses for use by the Presidency during the year.

Apart from the reduction in the provision for vehicles, there were other adjustments in the previous allocations to various departments and units in the Presidency contained in the original budget.

A total of N7.52 billion was provided previously for the purchase of various exotic vehicles, including BMW saloon cars, in addition to another N566 million for the procurement of vehicles, including 16-seater Toyota Hiace coaster buses for the State House.

Credit: PremiumTimes

State Reduces Ministries From 23 To 14

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The long-awaited list of commissioners to be presented to the Niger State House of Assembly by Governor Abubakar Sani Bello is ready and ministries are to be reduced from 23 to 14, investigations have revealed.

It was gathered that Governor Bello has already directed the Office of the Secretary to the State Government to issue a circular on the reduction of ministries in preparation for the submission of the list of commissioners to the State Assembly.

It was learnt that the list of the commissioners is ready and will soon be transmitted to the State Assembly for the consideration of the legislators.

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NNPC Drastically Reduces Crude Lifting Companies From 43 To 16

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The Nigerian National Petroleum Corporation (NNPC) has cut down the number of companies that will handle the contract of lifting Nigeria’s crude from 43 to 16. The drastic reduction is part of the Corporation’s transformation agenda aimed at keeping its operation lean, efficient and transparent to reduce cost.

Its spokesman, Ohi Alegbe said the decision is a novel move to instill transparency and probity in the award of the annual Crude Oil Term Contract for 2015/2016. He said: “NNPC yesterday mapped out measures to execute the 2015/2016 award of contract to companies for the evacuation of Nigeria’s crude oil equity from the various crude and condensate production arrangements.”

Read More: thenationonlineng

Borno Assembly Reduces Gov. Shettima’s Aides From 40 to 20

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The Borno State House of Assembly on Wednesday slashed the number of Special Advisers to the Governor from 40 to 20.

Gov. Kashim Shettima had sent list of 40 nominees to the Assembly, but the members approved 20.

The Speaker, Alhaji Abdulkarim Lawal, said at the plenary session that the reduction was due to the state’s financial position, as well as to check the cost of governance.
The motion for the reduction of the number of advisers was moved by Alhaji Mohammad Zakari, the House Leader.

In another development, the speaker announced the appointment of Mr Ayuba Wukawa, representing Hawul Constituency, as the Deputy House Leader, and Alhaji Audu Mustapha, representing Magumeri Constituency as the Chief Whip.

Credit: NAN

Government Reduces Works Ministry’s Budget From N100bn To N11bn

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The federal government has slashed the budget of the ministry of works from N100bn to N11bn, representing an 89 per cent slash.

Minister of Works Mike Onolememen, who was in the Senate to defend his ministry’s estimates for the fiscal year, made the revelation on Monday. He said the Finance ministry predicated its action on the economic realities on the ground.

The minister expressed concern that only 33 out of the 210 ongoing road projects had been provided for in view of the “lean allocation” to the ministry.

The senate expressed concern about the lean budget, adding that it was very terrible for a sector that needs at least N500bn annually for road construction and maintenance to be allocated N11bn.

Read More: Punch