Senate rejects trade and investment ministry's 2019 budget, gives reasons

- The Nigeria Senate has rejected the ministry of trade and investment 2019 budget proposal

- The rejection by the Senate followed an alleged illegal listing of a company by the ministry of trade and investment

- The chairman of the Senate committee, Sabo Mohammed said document obtained by them from the Corporate Affairs Commission (CAC) containing information on how the company was registered, shows that “it is a private company

The Senate Committee on Trade and Investment has rejected the ministry’s 2019 Budget of N15.63 billion.

The rejection followed alleged discovery of an illegal Special Economic Zone Company, listed for appropriation when the Minister of Trade and Investment Okechukwu Enelamah appeared for budget defence on Monday, April 1.

The chairman of the committee, Senator Sabo Mohammed while referring to item two on page seven of the budget booklet presented by the ministry, said the company was not known to be one of the 17 agencies under the ministry.

The ministry had in the course of the defence, presented the booklet containing 2019 budget proposals for all agencies under the ministry.

According to Mohammed, a document obtained by them from the Corporate Affairs Commission ( CAC) containing information on how the company was registered, shows that “it is a private company.

“Liability of the members are limited by share, which gives federal government 25 per cent and 75 per cent to private individuals.”

He directed the minister to forward detailed written explanation on how the company got into the appropriation list, its management staff list and its staff strength as well as statement of account before consideration of 2019 budget proposal.

Responding, Enelamah said the company was established through a Presidential Initiative and its approval was given at a Cabinet meeting held in May 2018 .

“One of the areas that this government has focused on is infrastructure. The second area is industrialisation and the two have something in common.

“If the government tries to do it alone, it would be extremely tasking.

“So the President directed that we should bring other partners that can combine with whatever monies we have to build world class infrastructure which led to the establishment of the company in partnership with other investors,” he said.

PAY ATTENTION: Install our latest app for Android, read best news on Nigeria’s #1 news app

Meanwhile, Legit.ng previously reported that the speaker of House of Representatives, Yakubu Dogara, has blamed President Muhammadu Buhari for late submission of 2019 and previous budgets.

Dogara in his opening remarks at a public hearing on the 2019 budget said the budgets over the years have only reflected the selfish wish of its drafters.

According to him, “Over the years, the main problem with our budget as submitted by the executive is that it does not reflect national values and priorities. The budget, more often than not, only reflects the values and priorities of those who help the president in drafting it."

NAIJ.com (naija.ng) -> Legit.ng: Same great journalism, upgraded for better service!

Nigeria News 2018: Nigerians Blow Hot as President Buhari Signs 2018 Budget in June | Legit TV

Source: Legit.ng

from Nigeria News today & Breaking Naija news ▷ Read on Legit.ng 24/7 https://ift.tt/2YIcMH5
via EDUPEDIA24/7

Dust haze weather to prevail on Thursday, December 27

- The Nigerian Meteorological agency (NiMet) predicts thick dust haze weather conditions over most parts of the country - NiMet predicts northern states would experience dust haze - The agency also predicts early morning mist/fog is expected over the coastal cities The Nigerian Meteorological Agency (NiMet) has predicted thick dust haze weather conditions with reduced visibility over most parts of the country on Thursday, December 27. NiMet’s Weather Outlook on Wednesday, December 26, in Abuja, revealed that the central region of the country would record dust haze condition with visibility range of two to five kilometres throughout the day. It added that day and night temperatures of 27 degrees Celsius to 34 degrees Celsius and 10 degrees Celsius to 20 degrees Celsius, respectively, would prevail over the region. READ ALSO: Police reportedly arrest Badeh’s alleged killers The agency predicted that the northern states would experience dust haze with visibility range of two to fi...

N2.5bn Fraud: You Have Case To Answer, Appeal Court Tells Suspended NBC Boss, Kawu

The Director General of the National Broadcasting Commission, NBC, Ishaq Kawu. The Court of Appeal, sitting in Abuja, has dismissed an appeal filed by the suspended Director-General of the National Broadcasting Commission, Dr Moddibbo Kawu, challenging the decision of the Federal High Court, to dismiss the no-case submission he filed at the lower court. The Independent Corrupt Practices and Other Related Offences Commission had charged Kawu, Lucky Omoluwa (late Chairman of Pinnacle Communications Ltd) and Dipo Onifade, Chief Operating Officer of the same company, before Justice Folashade Ogunbanjo-Giwa, on a 12-count charge of money laundering. Is'haq Modibbo Kaw THISDAYLIVE The suspended NBC boss and his co-accused then approached the appellate court to reverse the judgment of the Federal High Court. The appellate dismissed the no-case submission filed by Kawu and his co-accused and held that they had an explanation to give when he elected to facilitate the payment of ...

Buhari’s Legacy Of Recessions By Fredrick Nwabufo

Fredrick Nwabufo ‘Why always Buhari?’ As it was in 1984 under General Buhari, so it is in 2016 and 2020 under President Buhari? Is it by the unfortunate hands of kismet that recession hits Nigeria every time Buhari takes charge of the country’s affairs? If the recession of the 80s under Buhari was a conspiracy by economic and political factors, to what do we attribute that of his first coming as a civilian President — and now in his second coming? Why does pestilence scourge the land, hunger ravage the population and lives lost malevolently when Buhari presides over the country? Why always Buhari? Buhari’s undoing is his wonted predilection for hierarchising ethnicity, religion and loyalty above competence. Since 1999, no President has obtrusively shown a more nepotistic aspect than Buhari. It is unarguable that the President arrays the most competence-challenged cabinet ever in the chronicle of governance in Nigeria. Yes, a recession cabinet. Fredrick Nwabufo Here is a cabin...

EDUPEDIA247

Search This Blog