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2023 Budget: Buhari proposes N470bn for universities, other tertiary institutions

Published

2 years ago

October 7, 2022

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The Federal Government has proposed N470 billion for the revitalisation and salary enhancements in tertiary institutions.

President Muhammadu Buhari disclosed this on Friday while presenting the 2023 budget estimates to the joint session of the National Assembly.

Buhari, who is presenting his last budget to the lawmakers, said his government is dismayed by the crisis that has led to the shutdown of public universities in the country.

The Accademic Staff Union of Nigerian Universities, ASUU, has been on strike since 14 February, over the government’s failure to implement the 2009 agreement and dispute over the IPPIS.

President Buhari, in his speech, said lecturers “show a better appreciation of the current state of affairs in the country.”

He stated that to resolve the problem, the government has “provided a total of N470.0 billion in the 2023 budget from our constrained resources, for revitalization and salary enhancements in the tertiary institutions.”

He stressed that government alone cannot finance tertiary education. He stated that in other countries, tertiary education is financed by the government and the people.

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“It is instructive to note that today Government alone cannot provide the resources required for funding tertiary education.

“In most countries, the cost of education is jointly shared between the government and the people, especially at the tertiary level. It is imperative, therefore that we introduce a more sustainable model of funding tertiary education,” Buhari said.

Buhari added that the government is committed to implementing the agreement with ASUU and other bodies within available resources.

He stressed that his government will not sign any agreement it is not committed to implementing.

“The Government remains committed to the implementation of agreements reached with staff unions within available resources. This is why we have remained resolute that we will not sign any agreement that we would be unable to implement. Individual institutions would be encouraged to keep faith with any agreement reached in due course to ensure stability in the educational sector,” he said.

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Mr Buhari also disclosed that the government is committed to other levels of education. He said N15 billion has been allocated to the Safe School Declaration.

“We ratified the Safe Schools Declaration in 2019. We remain committed to the effective implementation of our Safe Schools Policy.

“A total of 15.2 billion Naira has been specifically provided in the 2023 Budget to scale up current measures to provide safer and conducive learning environment in our schools,” he said.

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BREAKING: FG, states, LGs share N1.123tn in March

Published

9 hours ago

April 19, 2024

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The Federation Account Allocation Committee has disbursed a total of N1.123tn to the federal, state, and local governments for March 2024.

The allocation, derived from a gross total of N1.867tn, marks a critical distribution of funds aimed at supporting various government tiers.

This was revealed in a statement signed by the Director of Information and Public Relations, Ministry of Finance, Mohammed Manga, on Friday.

FAAC has the duty of examining and approving the distribution of financial resources to the states and the Federal Government.

Monthly, this committee is tasked with the disbursement of funds across Nigeria’s 36 states and its 774 local government areas.

This allocation is anticipated to drive progress and support governmental bodies across various tiers in executing their duties.

The FAAC shared N1.152.trn to the three tiers of government for February 2024 from a gross total of N2.326.14trn.

Manga stated that the Accountant General of the Federation, Mrs. Oluwatoyin Madein, chaired the meeting and highlighted the importance of the allocation.

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This distribution is pivotal in ensuring that all government levels have the necessary funds to continue their development projects and provide essential services to the citizens,” the statement read.

The statement noted that the Federal Government received N345.890bn, states, and local governments received N398.689bn and N288.688bn, respectively, while oil-producing states received N90.224bn as 13 per cent mineral revenue derivation.

The FAAC statement also noted an increase in the gross revenue from Value Added Tax for March 2024, amounting to N549.698bn—an N89.210bn rise from the previous month.

This increase reflects the country’s economic growth and improved tax compliance.

Despite the positive trend in VAT, the Gross Statutory Revenue of N1.017tn for March was lower than February’s N1.192tn by N175.212bn.

The decrease has been attributed to reductions in excise duty, oil royalty, petroleum profit tax, customs external tariff levies, and electronic money transfer levy.

The balance in the Excess Crude Account as of April 2024 stands at $473,754.57, indicating a reserve for future financial stability.

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The statement noted that the FAAC’s decision to allocate these funds is expected to bolster economic activities across the nation and support the government’s efforts in improving infrastructure, healthcare, education, and other vital sectors.

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Tinubu appoints Emomotimi Agama as SEC DG

Published

9 hours ago

April 19, 2024

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President Bola Tinubu has appointed Emomotimi Agama as the director general of the Securities and Exchange Commission (SEC).

Ajuri Ngelale, special adviser to the president on media and publicity, disclosed this in a statement on Friday.

Details later…

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Army releases Delta monarch declared wanted over Okuama killings

Published

12 hours ago

April 19, 2024

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The army has released Clement Ikolo, a traditional ruler in Delta state, who was arrested over the murder of 17 officers in Okuama community.

Ikolo was released on Friday during a briefing by Onyema Nwachukwu, director, army public relations, at the Army Headquarters in Abuja.

The army personnel were killed on March 14 during a peacekeeping operation in the community.

The Defence Headquarters had declared Ikolo among eight persons wanted in connection to the murder.

The monarch subsequently turned himself in after releasing a statement to plead his innocence.

Ikolo said taking lives is against his philosophy and faith as a Catholic, and urged the army to look elsewhere for the culprits.

The monarch was released to Ede Dafinone, senator representing Delta central, who stood as surety.

Nwachukwu said Ikolo’s release did not amount to exoneration but was only facilitated after the senator testified to his character.

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Others declared wanted over the murder are Ekpekpo Arthur, a professor of physics at the Delta State University; Akeywiru Omotegbono, Andaowei Bakrikri, Igoli Ebi, a lady; Akata David, Sinclear Oliki, and Reuben Baru.

After the killing of the officers, President Bola Tinubu and the military high command promised that the perpetrators would be brought to justice.