Friday, 20 December 2013

Budget Presentation: War, As House Of Rep Members Disgrace Okonjo-Iweala (WATCH)






Chairman of the house committee on finance yesterday embarrassed the minister of finance, walking her out of the committee hearing hall.
The minister was billed to make presentation and clarification on the budget she submitted earlier in the day but was asked the come back for the presentation after two weeks. On hearing the postponement, Okonjo-Iweala became furious and began a shouting match with the chairman of the committee who also exchanged hots words with her.

FG Allocates N150bn To National Assembly, N45bn To INEC In 2014 Budget



The Federal Government has allocated N45 billion to enable the Independent National Electoral Commission (INEC) prepare for the 2015 general elections and also maintained its yearly N150 billion statutory allocation to the National Assembly.


The allocation to INEC was N13 billion higher than the 2013 budget of N32 billion.


According to the budget, the National Assembly allocation is to be maintained at the 2013 level of N150 billion.


It increased the provision for debt servicing from N591.8 billion in 2013 to N712 billion in 2014.


Recurrent (non-debt) spending was slightly reviewed downwards to N2.43 trillion in the 2014 budget as against N2.80 trillion in 2013.


Personnel cost was also increased slightly from the 2013 amendment budget provision of N1.72 trillion to N1.72 trillion for 2014.


The proposed N1.1 trillion for capital expenditure while share of capital in total expenditure was also reviewed to 27.29 per cent down from 31.9 per cent in 2013.






This reflected the increased allocation to pension as well as high wage bill.


The share of recurrent in total spending was put at 72.71 per cent while the provision for SURE-P was N268.37 billion.


It proposed N4.64 trillion as aggregate expenditure (Net of SURE-P) and N4.91 trillion aggregate expenditure (Inclusive of SURE-P) in the 2014 budget, Statutory Transfers were put at N399.7 billion.


The budget put the projected gross federally collectible revenue at N10.88 trillion, while N7.16 trillion was projected as gross federally collectible oil and gas revenue.


The total deductions, including cost of crude oil production, subsidy payments, and domestic gas development is N2.15 trillion which is the same in the 2013 budget.


Subsidy payments were maintained at the 2013 level of N971.1 billion while N3.29 trillion was budgeted as gross federally collectible non-oil revenue.

Friday, 13 December 2013

OBJ’s letter: Panic in Aso Rock as Jonathan’s aides ‘engage in marathon meetings’







According to reports, the senior aides of President Goodluck Jonathan have been thrown in confusion by the uncomplimentary letter sent to him by former president, Olusegun Obasanjo.


The aides are said to have begun a damage control frenzy in a bid to repair the president’s image following the onslaught by Chief Obasanjo.


This is said to have necessitated marathon meetings which are being held by the aides in Abuja.


According to Sahara Reporters:


Members of Mr. Jonathan’s camp have responded by holding several marathon meetings in Aso Rock and other locations in Abuja to find some angle to stem the fallout of the blistering attack Mr. Jonathan launched against the president.


“The feud between Mr. President and Chief Olusegun Obasanjo has been worrying us,” said one source, adding, “Baba [a moniker for Mr. Obasanjo] has chosen a bad time to release this letter.” The source said the death of former South African President Nelson Mandela meant that Mr. Obasanjo’s letter was ill-timed. “The whole of Africa should be mourning Dr. Mandela and celebrating his legacy,” the source, a senior aide to Mr. Jonathan said, on condition of anonymity.


Another source, who is close to Mr. Jonathan but not a government appointee, accused Mr. Obasanjo of acting hypocritically and true to character. “This is the way Chief Obasanjo has always operated, even before and during the civil war,” said the source, noting that retired General Alabi had exposed Mr. Obasanjo’s war-era duplicity in a recent book.


SaharaReporters learned that the marathon meetings by Mr. Jonathan’s aides are being coordinated by National Security Adviser, Colonel Sambo Dasuki (ret.), and the president’s Chief of Staff, Mike Oghiadomhe.


Our sources disclosed that the meetings concluded that the initial responses by Mr. Jonathan’s camp, relayed by the president’s top media aide, Reuben Abati, as well as statements by Bamanga Tukur, the national chairman of the Peoples Democratic Party (PDP), were considered insensitive and immature. Both Mr. Abati as well as Mr. Tukur had used harsh words in their respective reactions to Mr. Obasanjo’s 18-page epistle which accused Mr. Jonathan of failure of statecraft, encouragement of corruption, and of sabotaging the electoral prospects of PDP candidates in several recent elections, including the November 16 governorship election in Anambra State.


The source told SaharaReporters that a few influential associates of President Jonathan were opposed to pummeling Mr. Obasanjo with words. “We are not comfortable with the reactions so far. We are determined to make every effort to ensure an early end to the warfare between the former president and Mr. President.”


“Chief Obasanjo will benefit if we attack him with insults,” said another source who has attended several meetings on how best to respond to the ongoing feud. “It is against African culture to abuse an elder, even if he abuses you. Chief [Obasanjo] will look good if we are seen as returning fire-for-fire,” the source added. He described the timing and nature of the former president’s leaked letter as inauspicious.


The source disclosed that he and several other friends of Mr. Jonathan considered Mr. Abati’s and Mr. Tukur’s fiery responses to Mr. Obasanjo to be “uncalled for and clearly insensitive in view of the complexities associated with the tension generated by Chief Obasanjo’s letter.”