₦airaland Forum

Federal Ministry of Finance: Headquarters, Ahmadu Bello Way, CBD Press Unit, 4th Floor.

News Release: ​​​​​Sunday, 26th November 2017

We Follow Statutory Procedures in Granting of Import Duty Waivers - Finance Ministry

The attention of the Federal Ministry of Finance has been drawn to attempts by some importers and Non-Government Organisations (NGOs) to malign the name of the Honourable Minister of Finance, Mrs. Kemi Adeosun, and the Ministry over spurious claims of refusing to grant import duty waivers in respect of drugs, health commodities and related equipment donated by the Global Fund.

2. The Ministry strongly denies that the Minister has refused to grant import duty waivers to some importers and NGOs for drugs and health commodities imported into the country. There are laid down statutory procedures governing the granting of import duty waivers to importers and NGOs, which are part of holistic measures put in place to check abuses of the Federal Government’s fiscal incentives, and to put a halt to rampart corrupt practices in the economic sector.

3. These procedures include submission of an application by the importer and NGO to the Federal Ministry of Finance through the Federal Ministry of Health; evidence of registration with the Corporate Affairs Commission; submission of an approved Memorandum of Understanding duly signed by the Honourable or the Honourable Minister of State, Budget and National Planning between the Donor Agencies, Federal Government of Nigeria and the Recipient-NGOs, presentation of a certificate of exemption from tax from the Federal Inland Revenue Service (only for those who engage in non-profit making activities in line with their objectives), submission of a proforma invoice indicating the value of the imported items, bill of laden and if the imported items are donated, the NGOs are required to provide the Federal Ministry of Finance with authenticated letter from the donor agencies.

4. Additional documentation may also be required where the need arises. Meanwhile, some of the applicants referred to in the sponsored write-up being planned for circulation did not submit the required documents for processing import duty waivers requests

5. The Federal Ministry of Finance has in recent times observed the flagrant abuse of the import duty waivers by some NGOs and importers, who smuggled other imported items into approved waivers issued for the importation of medical equipment and drug related items.

6. The Ministry has also observed that some importers and NGOs engage in the sale of imported drug items which are meant to be distributed to the public free after being granted import duty exemption by the Government. This is in contravention of the provisions of Section 46 of the Customs and Excise Management Act (CEMA) of 1958 (as amended).

7. For the avoidance of doubt, the Federal Ministry of Finance wishes to state that priority and special attention are always accorded requests for import duty waivers for medical equipment and drugs related items. As a matter of fact, 318 concession applications were received and 175 were processed to conclusion from 1st May to 24th November, 2017.

8. The Federal Ministry of Finance also wishes to state that the President Muhammadu Buhari Administration appreciates the generosity of Donor Agencies and partner NGOs in the fight against the spread of HIV/AIDS, Malaria, tuberculosis and other deadly diseases but will not succumb to cheap blackmail and acts of economic sabotage under the guise of the delivery of health services to the people of Nigeria.


Signed:
Salisu Na'inna Dambatta
Director of Information
26th November, 2017

Press Release: Exercise Ubiak-Isin 2017

The Armed Forces Command and Staff College is conducting a field exercise between 29 Nov – 9 Dec 2017 in Labar, Dunki and Sabon Birni general area of Kaduna State. During the period, there will be massive movement of military personnel and equipment to and fro the area. Also, there will be sounds of explosives and gun shots.

In view of this, the general public especially people living around the exercise area are advised to remain calm and not to panic on sighting movement of troops and equipment or hearing sound of explosives and small arms. While necessary preventive measures have been put in place for the general security and safety of the area, the general public is equally implored to keep off the vicinity of the exercise area during the period.

You are please requested to disseminate this important information to the general public. Your usual cooperation is highly appreciated and please accept the Commandant’s best wishes.


Charles Ekeocha
Major
College Public Relations Officer

President Muhammadu Buhari has approved the payment of N164,763,759 to cover the 2nd Semester fees of the 106 rescued Chibok girls studying at the American University of Nigeria, (AUN) in Yola.

President Adama Barrow of Gambia appreciates President Muhammadu Buhari for his commitment to The Gambia.

State House Press Release: President Buhari Commends Benin Kingdom For Stabilising Nigeria

President Muhammadu Buhari Thursday expressed delight with the stabilising roles that the Eweka Dynasty of Benin Kingdom had been playing in the affairs of the country.
Speaking while receiving the Oba of Benin, His Royal Majesty, Omo N’Oba Uku Akpolokpolo, Oba Ewuare II at the State House, the President said that Nigerians have reasons to be proud of the stabilising roles Benin chiefs had played right from the colonial era to the current period, not only in the Delta region but the entire country.

President Buhari singled out the role of the immediate past Oba of Benin, Oba Erediauwa I, whom he described as his “back bone of support” when he was Federal Commissioner of Petroleum Resources and the late Oba was a Federal Permanent Secretary.

“I cannot hold back my emotions, talking about my relationship with your predecessor. After General Murtala Mohammed was assassinated, I was moved from the North-East as governor to Ministry of Petroleum. Your father was then Permanent Secretary. My relationship with him was very strong. I have lost count of the number of visits to his palace as Oba,” he said.

President Buhari praised the late Oba for “stabilising that part of the country because of his firmness. I must also commend the immediate past governor, Adams Oshiomhole for stabilising Edo State.”

Welcoming Oba Ewuare’s delegation made up of chiefs from other parts of Edo State, including the National Chairman of the All Progressives Congress, Chief John Odigie-Oyegun, the President commended His Royal Majesty for following the footsteps of his predecessor while reiterating his support for the traditional institution.

“I know and respect the traditional institution. I try as much as possible to understand why the authors of our Constitution kept silent about their role,” he said, noting however, that this was probably the best thing way to preserve their neutrality.

“Your Royal Majesty, you are safe where you are,” the President added.

In his remarks, Oba Ewuare II, who commended the President for his handling of security matters in the country, urged the Federal Government to establish industries in the rural areas to curb unemployment, rural-urban migration and human trafficking.


Garba Shehu
Senior Special Assistant to the President
(Media & Publicity)
November 23, 2017.

2017 N-Power Application Results/Updates

Steps To Register For The Voluntary Assets & Income Declaration Scheme (VAIDS)

President Muhammadu Buhari inaugurated the Audit Committee on Assets Recoveries made by Federal Government and directed Ministries Departments and Agencies (MDAs), banks and companies to support and cooperate with the Committee.

State House Press Release: President Buhari Orders Military Crackdown On Banditry In Zamfara; Approves New Measures To Check Terrorist Activities

President Muhammadu Buhari has ordered a military crackdown on bandits operating in rural communities in Zamfara State, following fresh attacks on some communities in Shinkafi and Maradun Local Government Areas.

To enable the army carry out this new mandate, the President has approved the request of the Minister of Defence, Brig-Gen. Mansur Dan Ali (rtd) for the stationing of a full battalion of Special Forces in Zamfara State, and the operationalization of the newly-established 8 Division of the Nigerian Army in Sokoto in the new Order of Battle (OBAT).

The President has also approved the movement of the 1 Brigade of the Nigerian Army from Sokoto to Gusau upon the take-off of the 8 Division.

To tackle the desperate actions of Boko Haram terrorists in the North-east, through the use of mostly female, underage girls as suicide bombers, President Buhari has equally approved the setting up of an intelligence fusion centre in Maiduguri, the Borno State capital, for the purpose of gathering and sharing intelligence among the security agencies in the country.

This phase of the war will be intelligence-driven and the new centre is expected to intensify the harvesting and sharing of intelligence so as to bring to an early closure, the desperate last-minute activities of the terrorists.


Garba Shehu
Senior Special Assistant to the President
(Media and Publicity)
November 22, 2017.

The Federal Government is committed to improving access and utilization of health care services. This will be done through the Basic Healthcare Provision Fund (BHCPF), an initiative that will guarantee and provide for free, a minimum package of services in primary health care facilities beginning with rural communities.

The Basic Healthcare Provision Fund (BHCPF) is a Federal Government program where 1% of Nigerian’s consolidated annual revenue is set aside to pay for guaranteed free care, upgrading of health facilities and also support to accident victims across the country.

Phase One of this program, which will commence in the first quarter of 2018, will run in 3 start-up states – Abia, Niger and Osun and has the potential to reach up to 8 million Nigerians.

Today government invites all Nigerians to join in crowd sourcing a name for the Basic Healthcare Provision Fund- an easier one that reflects Nigeria’s diversity.

Share with Federal Ministry of Health Nigeria on Facebook and @fmohnigeria on Twitter, what good health means in your local language with the hashtag #BHCPF .

If perhaps you have any other creative suggestion, please become part of this process and share with us your suggested name.

State House Press Release: Mubi Mosque Suicide Attack Cruel, Says President Buhari As He Directs Police Reinforcement To Quell Zamfara Attacks

President Muhammadu Buhari has described the early Tuesday morning suicide bomb blast in a mosque in Mubi, Adamawa State as “very cruel and dastardly.”

President Buhari, while commiserating with families of the several victims, government and people of the state, assured that government would do everything required to secure the state from the deadly menace of Boko Haram.

The President enjoined the people in the entire North-east to be more vigilant and report suspicious persons to security agencies in order to avert further attacks on soft targets by the terrorist group.

President Buhari has also directed the Inspector-General of Police, Ibrahim Idris, to deploy more police personnel to prevent further attacks by armed bandits in Zamfara State.

Noting the current moves by the IGP to review police personnel and strategy in the state, the President directed him to visit the state and report back his findings about the deadly attacks.

The directives followed recent killings and wanton destruction carried out by unknown gunmen on communities in Shinkafi and Maradun Local Government Areas of the state.

President Buhari prayed that God would console the bereaved families in the Adamawa and Zamfara incidents, heal the injured, and grant rest to the souls of the departed.


Garba Shehu
Senior Special Assistant to the President
(Media & Publicity)
November 21, 2017.

Press Release: Federal Government raises alarm over Italy burial of female migrants

Italian Embassy initially said burial would take place on Nov 26, but went ahead with it on Nov 17, without any information to the Nigerian Government -Abike Dabiri-Erewa, Senior Special Assistant to the President on Foreign Affairs & Diaspora.

Office Of The Vice President Press Release: Over 5 Million Pupils In 19 States Now Being Fed Free & Daily Under Buhari's National Homegrown School Feeding Programme

*NHGSF, Federal Ministry of Health to conduct deworming exercise In 17 States

In furtherance of its goal to tackle poverty and hunger, and to create jobs for Nigerians in line with its inclusive growth plan, the Buhari administration’s National Home-Grown School Feeding (NHGSF) Programme is now in 19 states across the federation. They include Anambra, Enugu, Oyo, Osun, Ogun, Ebonyi, Zamfara, Delta, Abia, Benue, Plateau, Bauchi, Taraba, Kaduna, Akwa Ibom, Cross River, Imo, Jigawa and Niger states.

So far, over five million pupils (5,226,039) in 28,249 schools in these states are currently been fed under the programme, while Kano and Katsina states are expected to be added to the beneficiaries states in the coming weeks.

Also, over 50,000 cooks are currently engaged under the programme.

The school feeding programme, which is part of President Muhammadu Buhari administration’s N500 billion National Social Investment Programmes, NSIP, has a target to feed 5.5 million schoolchildren by the end of 2017.

Meanwhile, the School Feeding Programme is collaborating with the Federal Ministry of Health to deliver an integrated deworming programme for pupils in all public primary schools classes 1 to 6 across 17 states currently under the NHGSFP in the country.

At least 243 Local Government Areas will benefit from the deworming exercise in the 17 states, including Abia, Akwa Ibom, Enugu, Niger, Osun, Bauchi, Jigawa, Katsina, Zamfara, Anambra, Benue, Imo, Kano, Kaduna, Ebonyi, Delta and Plateau states.

The integrated programme, which is scheduled for the first and second week of December in these states, will deliver three different drugs for the treatment of diseases endemic to specific states; particularly schistosomiasis; soil-transmitted helminths and river blindness/onchocerciasis. The drugs to be distributed are Albendazole, Ivermectin and Parazaquintel.

Supported by the Federal Government, three facilitators would be within the states for the period to achieve these objectives and ensure that the pupils in these states are dewormed.


Laolu Akande
Senior Special Assistant to the President on Media & Publicity
Office of the Vice President
20 November 2017

Office Of The Vice President Press Release: We Must Deal Lethal Blow To Criminal Networks & Crush Terrorism - VP Osinbajo Tells ECOWAS Group Against Money Laundering

*“It is clear that without dealing a lethal blow to those powerful criminal networks that funnel money to terrorist groups, we cannot reasonably hope to completely obliterate the threat of terrorism and other organized criminal activity in our sub-region” – VP Osinbajo

African economies must treat money laundering and other financial crimes with zero tolerance to maintain and sustain economic, financial and political stability, according to Vice President Yemi Osinbajo, SAN.

Prof. Osinbajo stated this at the opening ceremony of the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) 18th Ministerial Committee meeting, which held at the Sheraton Hotels and Towers, Abuja, Nigeria, on Saturday.

“We have for long enough affirmed our commitment as a sub-region to fighting Money Laundering and Terrorist Financing. We must now back this intent with forceful action and visible results,” the Vice President said.

Below is the full text of his speech at the event.

Speech By The Vice President, Federal Republic Of Nigeria, His Excellency, Prof. Yemi Osinbajo, SAN, GCON, At The Opening Ceremony Of The Giaba 18th Ministerial Committee Meeting, Held At The Sheraton Hotels And Towers, Abuja, Nigeria, On November 18, 2017.

Protocols

It is my privilege and pleasure to welcome you all to Nigeria as you attend the 18th GIABA Ministerial Committee meeting today.

Let me start by commending the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) for the support to member States in implementing robust Anti-Money laundering and terrorist financing measures in line with acceptable international standards, particularly the Financial Action Task Force (FATF) recommendations.

GIABA has worked hard in keeping with the ECOWAS mandate to eradicate Money Laundering and Terrorist Financing from our region by regularly assessing and evaluating member states on their implementation of the FATF standard recommendations.

Since the beginning of this week, all member states of the GIABA (the 15 ECOWAS countries, and Sao Tome & Principe) have gathered here in Abuja under the auspices of GIABA to evaluate their respective AML/CFT regimes and share experiences on the way forward in tackling these financial crimes.

Let me also commend the dedication of the GIABA Ministerial Committee, which stands at the helm of GIABA, serving as the conduit of political will and funding from the member-states, as well as providing it with policy directions required to conduct its activities.

Your Excellencies, Honourable Ministers, Money Laundering and Terrorist Financing are crimes that have significant ramifications for the security and wellbeing of our various countries.

In Boko Haram we have seen the devastation that a well-resourced terrorist group can wreak, not just on individual lives and livelihoods, but also on the stability of national and regional political and economic systems.

In the last decade, more than 20,000 lives have been lost to terrorism propagated by Boko Haram, and more than 2 million persons displaced. One important question that arises is this: How did a once-obscure sect, domiciled primarily in a single city in Northern Nigeria, evolve to become, at one point, a menace, not only to the country but to the entire Lake Chad Basin?

I’m certain that a significant part of the answer to those questions will be found in the complicated multinational networks of financing that sustained the group and nurtured its hateful vision. There is absolutely no way that Boko Haram would have grown as dangerous as it did without access to funding and resources, mobilized from far and wide.

It is clear that without dealing a lethal blow to those powerful criminal networks that funnel money to terrorist groups, we cannot reasonably hope to completely obliterate the threat of terrorism and other organized criminal activity in our sub-region.

Boko Haram is just one example of how much evil can be done by a subversive group that has figured out how to raise money in the shadows. There are many others like it, with similar or different goals, all of them united by the need to raise financing to achieve their aims. We know that the lines between terrorist groups, corrupt politicians, traffickers (whether of drugs, guns or people); fraudsters; smugglers; kidnappers; illegal oil bunkerers, etc, have always been blurry; that these groups have always found complementary need for one another’s tactics and strategies. Indeed, if there’s one thing that the world’s deadliest terrorist groups, from Al Qaeda to ISIS to Al-Shabaab, have in common, it is the ease and expertise with which they diversify their criminal activity while retaining their overarching goal of inflicting maximum devastation.

Today, in the age of the Internet, that blurring has intensified. Cyberspace has made it easier than ever for criminal syndicates to not only draw inspiration and learning from one another, but to also devise increasingly complex means of fundraising and of bypassing conventional financial system checkpoints and safeguards. The advent of Bitcoin and other cryptocurrencies provides the unprecedented levels of discreetness preferred by criminal networks. The result is that financial crime is able to always stay a few steps ahead of governments and the law.

As for official corruption, all around us we see its devastating effects – in the rundown schools and hospitals; potholed roads; under-equipped armies; subverted financial systems, and fragile democracies. At risk from money laundering especially the laundering of proceeds of corruption, and terrorist financing are the stability of our financial and political systems, and ultimately the development of our countries and the prosperity of our people. What this means is that we are dealing here with an existential threat – it’s either we wipe it out or it wipes us out.

This should spur us to treat money laundering and other financial crimes with zero tolerance. We have for long enough affirmed our commitment as a sub-region to fighting Money Laundering and Terrorist Financing. We must now back this intent with forceful action and visible results.

While we acknowledge the steps we have taken, individually and collectively, in recent years – implementing recommendations, strengthening institutions, building partnerships and collaborations – we cannot afford complacency at this time. This is actually the reason why we need to redouble our efforts, to shore up the political will required to apply and implement the laws and frameworks we have worked hard to develop.

Information sharing is very important to the success of our fight. This means that on the one hand we should rise above the temptations of secretiveness and mutual suspicion; and on the other hand we must do everything in our power to sustain trust and confidence by safeguarding every piece of information that is being shared across national databases.

We must also strive to work beyond the barriers imposed by the differences in our various legal systems, bearing in our minds that the criminals we are tackling have never allowed themselves to be held back by these obstacles. I trust that these issues and more will be exhaustively covered in your deliberations at this meeting.

Permit me to raise a matter of considerable importance to many of our nations. It is the difficulty we experience in repatriating proceeds of corruption from financial institutions of the more developed nations. Despite numerous mutual legal assistance treaties and Conventions, it is obvious that we are not making the sort of progress we expect to see. It is unconscionable, in our view, to have stolen funds in a bank within the jurisdiction of an FATF country and to have to go through a rigorous obstacle course to retrieve the funds and even when such funds are to be returned after several years, humiliating conditions are attached.

It is the view of Nigeria that FATF countries must, as a matter of respect for the spirit of our collaboration, and with the same efficiency and zero tolerance for quibbling, ensure the smooth repatriation of proceeds of corruption to the economies from where they were stolen. The other issue is the risk of the dangers posed by anonymous corporate ownership. If nothing else, the Panama Papers and now the Paradise papers clearly illustrate the global scale and spread of this problem. So this is a global challenge and nothing less than a truly global approach will be needed to tackle it.

We must commend the United Kingdom, Norway, Netherlands and Denmark for leading the way in establishing public registers of the real, human owners of companies in their countries. We call on other G8 and G20 countries not only to follow suit but also to initiate actions to end corporate secrecy in some of their dependencies. We cannot have anonymous ownership of companies, trusts and other arrangements designed to cover ownership of assets, and at the same time expect optimal results from anti-money laundering measures.
Once again, I thank GIABA and the GIABA Ministerial Committee for choosing to host this meeting in Abuja, Nigeria. I wish you fruitful deliberations as you go into your closed session.

Thank you.


Released by
Laolu Akande
Senior Special Assistant on Media and Publicity
Office of the Vice President
18 November, 2017

Ministry Of Budget And National Planning Press Release: Federal Government Set To Organize Focused Labs To Boost Economic Growth

Following the Federal Executive Council’s approval, the Ministry of Budget and National Planning is set to organize focused labs. These labs consist simply in the bringing together of relevant stakeholders in the public and private sectors into weeks of intensive working sessions to brainstorm on practical steps to overcoming any identified challenges in the implementation of the country’s Economic Recovery and Growth Plan (ERGP).

The labs will serve as an effective tool for ensuring robust engagement between the public and private sectors to resolve challenges within a specified sector.

It is a fall-out of the Federal Government Cabinet Retreat on ERGP Implementation held in Abuja on the 10th of August this year with the theme “Getting Implementation Right”.

A major outcome of the retreat was the need for Nigeria to conduct focused labs, drawing from the Malaysian model, which will drive quick delivery of the major outcomes of the ERGP. The initial labs will be in agriculture and transportation, in power and gas, and in manufacturing and processing. Thereafter, similar labs will be conducted in other areas, such as entertainment and tourism, health and education amongst others.

The planned labs will be directed by relevant Ministers and senior government officials, with the participation of captains of industry and potential investors, both Nigerian, as well as major international companies. Young and aspiring entrepreneurs will also be invited to participate. Already the Federal Government has set up an ERGP implementation team located in the Ministry of Budget and National Planning who will be coordinating the labs. These staff will be supported by some consultants from Malaysia who will facilitate the first three pilot labs after which their services will no longer be required.

The labs, which will run for about three months in three separate phases (pre-laboratory, laboratory and post laboratory), will involve about 100 persons each drawn from both the public and private sectors. The aim is to get private sector involvement in achieving the objectives of the plan, by mobilising private sector financing and resources.

The key objectives of the labs are to:
• Identify all relevant key stakeholders from the public and private sectors that are crucial in the delivery and implementation of the various
initiatives of the ERGP so as to create ownership;
• Review and re-evaluate the ERGP and sectoral plans against set targets and progress;
• Identify gaps in the current eco-system and the key success factors;
• Deliver detailed three-feet implementation programme line by line and identify entry point projects;
• Identify key performance indicators, activities, budgets, timelines, milestones and responsible action parties;
• Breaking down silos and encouraging key players in MDAs to work together in an intensive co-creation manner;
• Mobilise private sector investment to finance specific capital projects.

Preparatory work for the labs is far advanced and the Ministry will be providing regular updates on progress on the labs.


Signed:
Akpandem James
Special Adviser (Media) to the Hon. Minister

Exciting next twelve months for project financing in Nigeria as some key projects are expected to reach financial close next year.

President Muhammadu Buhari: "There is no part of Nigeria where you will not find Igbo entrepreneurs. So I am asking you all not to buy into the senseless propaganda on secession. Igbo is Nigeria and Nigeria is Igbo. Both are inseparable." #PMBinSE

President Muhammadu Buhari has directed the reinstatement of the security aides of Governor Willie Obiano of Anambra State.

READ: Federal Ministry of Environment reacts to allegations on Rosewood exports.

President Muhammadu Buhari receives two Chieftaincy Titles - Enyioma 1 of Ebonyi and Ochioha Ndi Igbo 1. #PMBinSE

President Muhammadu Buhari met with leaders of Muslim Faithful across the nation at the State House, Abuja.

President Muhammadu Buhari met with members of the Christian Association of Nigeria (CAN) at the State House, Abuja.

Watch our funny tax videos!!!
https://www.youtube.com/channel/UCvKgGXXc_TA6u5loIiIrO2A/videos?view_as=subscriber

A Statement by the Honourable Minister of Power, Works and Housing, Mr Babatunde Raji Fashola, (SAN).

Watch our funny tax videos!!!
https://www.youtube.com/channel/UCvKgGXXc_TA6u5loIiIrO2A/videos?view_as=subscriber

Highlight of President Muhammadu Buhari's Budget 2018 presentation speech on Tuesday 7th November, 2017.

Our Social Investment Programme in Numbers:

Conditional Cash Transfer supports 116,422 households.
Home Grown School Feeding Programme is currently feeding 4,515,159 school children across Nigeria.
Government Enterprise and Empowerment Programme has disbursed 256,458 loans.
NPower Programme has deployed 200,000 graduates.

Highlight of President Muhammadu Buhari's Budget 2018 presentation speech on Tuesday 7th November, 2017.

Office Of The Vice President: Press Release

World Bank’s Ranking Of Nigeria Among Top 10 Most Reformed Economies:
Nothing Exceptional About Our Problems, We Can Do Better When Committed, Says VP Osinbajo

*We congratulate Nigeria under the leadership of President Muhammadu Buhari for its economic reforms – World Bank.

Nigeria’s impressive ranking in the latest World Bank Doing Business report is proof that the country can do better if Nigerians faced its challenges headlong, according to Vice President Yemi Osinbajo, SAN.

Prof. Osinbajo said this when a team from the World Bank formally presented the 2018 Doing Business report to the Federal Government on Wednesday at the Presidential Villa, Abuja.

In the latest World Bank Doing Business index, Nigeria climbed up 24 places and was placed on the list of 10 most reformed economies globally.
According to the report, Nigeria made significant progress across several indicators comprising starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency.

“This shows that we can do better in whatever we commit ourselves to do in the country. There is nothing exceptional about Nigeria’s problems; it is just for us to find the best ways to resolve them,” the Vice President said.

Prof. Osinbajo further praised the Presidential Enabling Business Environment Council (PEBEC) for its commitment and efforts since its inception. “We are all excited about the latest ranking, it just shows we can do much better as a people,” the Vice President said.

In his remark, the Country Director of the World Bank in Nigeria, Mr. Rachid Benmessaoud, praised the efforts of the Federal Government, stating that the improvement was proof of the leadership provided by the Buhari administration, and the impact of its Ease of Doing Business reforms.

Benmessaoud added that Nigeria’s leap in the World Bank Doing Business rankings was “an important signal from Nigeria’s federal government’s effort, and also an important signal from Africa’s largest economy.”

He said, “We come to congratulate Nigeria and the Federal Government of Nigeria under the leadership of His Excellency, Muhammadu Buhari, for the reforms that have been undertaken that provided for Nigeria to jump into the indicators for doing business in Nigeria.

“This is a tribute to this council, which has been regularly meeting and focusing on the issues that influence doing business in Nigeria. And this council has done a great job under the leadership of His Excellency, the Vice President, Professor Yemi Osinbajo, SAN.”

The World Bank also pledged its support for the Federal Government in its bid to further the improvement of Nigeria’s investment climate.

PEBEC, which is chaired by the Vice President, was established by President Buhari in 2016, with a mandate to sustainably and progressively make Nigeria an easier place to do business. The members of the council include the Minister of Industry, Trade & Investment, who is Vice Chair; while other PEBEC members are 10 Honourable Ministers, the Head of the Civil Service of the Federation and the CBN Governor.

It would be recalled that the Enabling Business Environment Secretariat (EBES), which became fully operational in October 2016, is coordinated by Dr. Jumoke Oduwole, the Senior Special Assistant to the President on Industry, Trade and Investment.
The meeting was also attended by other ministers, including the Honourable Minister of Finance, Kemi Adeosun; Minister of Power, Works and Housing, Mr. Babatunde Fashola; and the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele.


Laolu Akande
Senior Special Assistant to the President on Media & Publicity
Office of the Vice President
8th November 2017

Yesterday, President Muhammadu Buhari presented the Budget 2018 proposal to a joint session of the National Assembly.

Here is a breakdown of the #Budget2018:
Proposed Recurrent Expenditure - N6.18tn
Proposed Recurrent Expenditure - N6.18tn
Proposed Capital Expenditure - N2.42tn
Total Proposed Budget Size - N8.6tn

Assumptions:
Benchmark Oil Price $45 per barrel
Oil Production: 2.3mbpd
Exchange rate: N305/$1
Inflation Rate: 12.4%

Press Release: VAIDS Begins Video Campaign

The Voluntary Assets and Income Declaration Scheme (VAIDS) office has launched a video campaign to create awareness about the programme, promote voluntary tax compliance and boost tax education among Nigerians. This was disclosed in a press statement by the VAIDS Office in the Federal Ministry of Finance, the initiator of the programme.

According to the statement, the campaign, domiciled on Youtube at /VAIDSVideos, features short videos and skits depicting various scenarios of persons attempting to evade their taxes.  By its provision, VAIDS gives tax defaulters a time-limited opportunity to regularize their tax affairs by truthfully declaring and paying tax liabilities.

VAIDS was conceived by the Federal Ministry of Finance in collaboration with federal and state tax authorities to correct the defective tax orientation in the country and reflects the desire of the Federal Government to widen the tax net while offering benefits to defaulters, who voluntarily and truthfully declare their assets and pay tax liabilities.

Benefits accruable to individuals and corporate bodies, who comply with VAIDS, include immunity from prosecution for tax offences, tax audits, as well as waivers of interest and penalties on unpaid taxes. They also include the option of spreading outstanding liabilities over a maximum period of three years as may be agree with the relevant tax authority.

Agricultural Development

40. The agricultural sector played a crucial role in Nigeria’s exit from recession. Today, it remains the largest employer of labour and holds significant potential to realise our vision of repositioning Nigeria as a food secured nation.

41. We will consolidate on existing policies and develop new ones to ensure the numerous value chain challenges in the agricultural sector are addressed. As I mentioned earlier, several investors have deployed significant capital in the production and processing of rice, sugar, maize, soya, cassava, yams, tomato, oil palm, rubber and poultry, to mention a few. We are also seeing increased investment in the agro-inputs manufacturing sector such as fertilisers.

42. We are determined to protect these investments and encourage more. Food Security is an important aspect of this Administration’s National Security agenda. Any person involved in smuggling of food items is a threat to our National Security and will therefore be dealt with accordingly. A Committee chaired by the Vice President is working on this matter. A key part of their work will be the reactivation of the Badagry Agreement signed between Nigeria and the Republic of Benin in 2003. This agreement, which was abandoned by previous Administrations, established a mutually beneficial framework for the two neighbours and allies to partner in tackling smuggling and other cross border crimes. I would like to assure investors in the agricultural value chain that the menace of smuggling will be handled decisively.

43. To further support investors and State Governments, we will accelerate the establishment of at least 6 Staple Crop Processing Zones, in the first phase. This initiative will develop infrastructure for the production, processing and storage of strategic commodities. The focus is on backward integration for grains, horticulture, livestock, fisheries and sugar; as well as exportable commodities such as cocoa, cassava and oil palms.

Health Sector Developments

44. During 2017, the country had a number of disease outbreaks such as Meningitis, Yellow Fever, Monkey Pox and Lassa Fever. I would like to commend the Federal and State Ministries of Health for their selfless service and timely responses to contain these outbreaks. I would also like to thank the World Health Organisation, the Global Fund and UNICEF, for their continued support during these trying times. This collaboration was a key factor in the low mortality rates experienced. To further improve our response to such outbreaks, we are working to upgrade our Integrated Disease Surveillance and Response System. This will further enhance the efficiency of our diagnostic and clinical management processes.

45. In this respect, I urge this Distinguished House to expedite the passage of the Bill for the Nigeria Centre for Disease Control to enable us consolidate on the successes recorded to date.

Implementing the Social Investment Program

46. I am pleased to inform you that we have recorded tremendous success in the implementation of the Federal Government’s Social Investment Program. Specifically,

a. Over 4.5 million Primary 1 to Primary 3 pupils in public schools are being fed under the School Feeding programme;
b. Over 200,000 unemployed graduates have been employed under the N-Power Scheme in education, health and agricultural sectors;
c. Over 250,000 enterprises have benefitted from the sum of 12.5 billion Naira, which has been disbursed to entrepreneurs to expand their businesses; and
d. Over 110,000 households are currently benefitting from the Conditional Cash Transfer programme across the country.

Performance Of The 2017 Budget

47. The 2017 Budget of Recovery and Growth was based on a benchmark oil price of US$44.5 per barrel, oil production of 2.2 million barrels per day, and a Naira-to-US Dollar Exchange Rate of 305. Based on these assumptions, total revenue of 5.084 trillion Naira was projected to fund aggregate expenditure of 7.441 trillion Naira. A projected fiscal deficit of 2.356 trillion Naira was to be financed mainly by domestic and external borrowing.

48. On revenue performance, collections were 14 percent below target as of September 2017, mainly due to the shortfall in non-oil revenues.

49. A key revenue shortfall was from Independent Revenues; only 155.14 billion Naira was remitted by September 2017 as against the projected pro-rated sum of 605.87 billion Naira. This represents a 74 percent shortfall, which is very disappointing.

50. This recurring issue of under-remittance of operating surpluses by State Owned Entities is absolutely unacceptable. You will all recall that in September 2017, the Joint Admissions and Matriculation Board (JAMB) announced that they were ready to remit 7.8 billion Naira back to the Government. The shocking discovery was that in the last decades, JAMB only remitted an aggregate of 51 million Naira. This clearly illustrates the abuses that occur in State Owned Entities as well as their potential for increased Independent Revenues, if only people would do the right thing. We all need to play our role to ensure the right thing is done. I would also like to remind Nigerians that the Whistle Blower lines are still open.

51. Accordingly, I have directed the Economic Management Team (EMT) to review the fiscal profiles of these agencies, to ensure strict compliance with the applicable Executive Orders and Financial Regulations. There may be a need to consider a review of the Fiscal Responsibility Act and the Executive will be approaching the National Assembly on this issue in due course.

52. On the expenditure side, a total of 450 billion Naira of the capital vote had been released as at the end of October 2017. With your support for our funding plan, our target is to release up to 50% of the capital vote for MDAs by the year’s end. We have prioritised payments of our counterpart obligations on our concessionary loans, as well as funding of critical infrastructure and other projects with socio-economic benefits. Furthermore, MDAs have made provisions to carry over to the 2018 Budget, capital projects that are not likely to be fully funded by year-end 2017, to ensure project continuity.

53. Regrettably, the late passage of the 2017 Budget has significantly constrained budget implementation. As you are aware, the 1999 Constitution authorized necessary Federal Government expenditures prior to the 12th of June, 2017 when the 2017 Appropriation Act was signed into law. This year, we have worked very hard to achieve an earlier submission of the Medium-term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP), and the 2018 Appropriation Bill. Our efforts were to avail the National Assembly with sufficient time to perform its important duty of passing the Appropriation Bill into law, hopefully by the 1st of January, 2018. It is in this spirit that I solicit the cooperation of the Legislature in our efforts to return to a more predictable budget cycle that runs from January to December.

Priorities For The 2018 Budget Of Consolidation

54. The 2018 Budget Proposals are for a Budget of Consolidation. Our principal objective will be to reinforce and build on our recent accomplishments. Specifically, we will sustain the reflationary policies of our past two budgets. In this regard, the key parameters and assumptions for the 2018 Budget are as set out in the 2018-2020 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP). These include:

a. Benchmark oil price benchmark of US$45 per barrel;
b. Oil production estimate of 2.3 million barrels per day, including condensates;
c. Exchange rate of N305/US$ for 2018;
d. Real GDP growth of 3.5 percent; and
e. Inflation Rate of 12.4 percent.

Federally-Collectible Revenue Estimates

55. Based on the above fiscal assumptions and parameters, total federally-collectible revenue is estimated at 11.983 trillion Naira in 2018. Thus, the three tiers of Government shall receive about 12 percent more revenues in 2018 than the 2017 estimate. Of the amount, the sum of 6.387 trillion Naira is expected to be realised from oil and gas sources. Total receipts from the non-oil sector are projected at 5.597 trillion Naira.

Federal Government Revenue Estimates

56. The Federal Government’s estimated total revenue is 6.607 trillion Naira in 2018, which is about 30 percent more than the 2017 target. As we pursue our goal of revenue diversification, non-oil revenues will become a larger share of total revenues. In 2018, we project oil revenues of 2.442 trillion Naira, and non-oil as well as other revenues of 4.165 trillion Naira.

57. Non-oil and other revenue sources of 4.165 trillion Naira, include several items including: Share of Companies Income Tax (CIT) of 794.7 billion Naira, share of Value Added Tax (VAT) of 207.9 billion Naira, Customs & Excise Receipts of 324.9 billion Naira, FGN Independently Generated Revenues (IGR) of 847.9 billion Naira, FGN’s Share of Tax Amnesty Income of 87.8 billion Naira, and various recoveries of 512.4 billion Naira, 710 billion Naira as proceeds from the restructuring of government’s equity in Joint Ventures and other sundry incomes of 678.4 billion Naira.

Proposed Expenditure for 2018

58. A total expenditure of 8.612 trillion Naira is proposed for 2018. This is a nominal increase of 16 percent above the 2017 Budget estimate. In keeping with our policy, 30.8 percent (or 2.652 trillion Naira) of aggregate expenditure (inclusive of capital in Statutory Transfers) has been allocated to the capital budget.

59. We expect our fiscal operations to result in a deficit of 2.005 trillion Naira or 1.77 percent of GDP. This reduction is in line with our plans under the ERGP to progressively reduce deficit and borrowings.

60. We plan to finance the deficit partly by new borrowings estimated at 1.699 trillion Naira. Fifty percent of this borrowing will be sourced externally, whilst the balance will be sourced domestically. The balance of the deficit of 306 billion Naira is to be financed from proceeds of privatisation of some non-oil assets by the Bureau of Public Enterprises (BPE).

61. The proposed 8.612 trillion Naira of 2018 Aggregate Expenditure comprises:

a. Recurrent Costs of N3.494 trillion;
b. Debt Service of N2.014 trillion;
c. Statutory Transfers of about N456 billion;
d. Sinking Fund of N220 billion (to retire maturing bond to Local Contractors);
e. Capital Expenditure of N2.428 trillion (excluding the capital component of Statutory Transfers).

Statutory Transfers

62. 456.46 billion Naira was provided in the 2018 Budget for Statutory Transfers. The 5 percent increase over last year’s provision is mainly due to increases in transfer to Niger Delta Development Commission (NDDC) and the Universal Basic Education Commission (UBEC), which are related directly to the size of oil revenue.

Debt Restructuring

63. We are closely monitoring our debt service to revenue ratio. We shall address this ratio through our non-oil revenue-generation drive and restructuring of the existing debt portfolio. Presently, domestic debt accounts for about 79 percent of the total debt. Our medium-term strategy is to reduce the proportion of our domestic debt to 60% by the end of 2019 and increase external debt to 40 percent. It is noteworthy that rebalancing our debt portfolio will enhance private sector access to domestic credit. In addition, annual debt service costs will reduce as external debts are serviced at lower rates and repaid over a longer period than domestic debt.

Recurrent Expenditure

64. A substantial part of the recurrent cost proposal for 2018 is for the payment of salaries and overheads in key Ministries providing critical public services such as:

a. N510.87 billion for Interior;
b. N435.01 billion for Education;
c. N422.43 billion for Defence; and
d. N269.34 billion for Health.

The allocation to these Ministries represent significant increases over votes in previous budgets.

Personnel Costs

65. Personnel costs is projected to rise by 12 percent in 2018. Although we have made substantial savings by registering MDAs on the Integrated Personnel Payroll Information System (IPPIS) platform, the increase is mainly due to provision for staff promotion arrears, and recruitments by the Military, Police Force and para-military agencies. Furthermore, I have directed agencies are not to embark on any fresh recruitment unless they have obtained all the requisite approvals. Any breach of this directive will be severely sanctioned.

Overhead Costs

66. Overhead costs is projected to rise by 26 billion Naira in 2018, a modest increase of about 12 percent reflecting inflationary adjustments. MDAs are required to adhere to government regulations regarding cost control.

Capital Expenditure

67. To consolidate on the momentum of the 2017 Budget’s implementation, many ongoing capital projects have been provided for in the 2018 Budget. This is in line with our commitment to appropriately fund ongoing capital projects to completion. By allocating 30.8 percent of the 2018 Budget to capital expenditure, the Federal Government is also demonstrating its strong commitment to investing in critical infrastructure capable of spurring growth and creating jobs in the Nigerian economy.

68. Key capital spending allocations in the 2018 Budget include:

a. Power, Works and Housing: N555.88 billion;
b. Transportation: N263.10 billion;
c. Special Intervention Programmes: N150.00 billion;
d. Defence: N145.00 billion;
e. Agriculture and Rural Development N118.98 billion;
f. Water Resources: N95.11 billion;
g. Industry, Trade and Investment: N82.92 billion;
h. Interior: N63.26 billion;
i. Education N61.73 billion;
j. Universal Basic Education Commission: N109.06 billion;
k. Health: N71.11 billion;
l. Federal Capital Territory: N40.30 billion;
m. Zonal Intervention Projects N100.00 billion;
n. North East Intervention Fund N45.00 billion;
o. Niger Delta Ministry: N53.89 billion; and
p. Niger Delta Development Commission: N71.20 billion.

69. As I had previously indicated, we aim to consolidate on our achievements in 2017. We shall meet our counterpart funding obligations. We shall complete all ongoing projects. And we shall carry forward all strategic projects that were budgeted for but which we were unable to kick start due to liquidity challenges, late passage of the budget, prolonged contractual negotiations, and other matters.

70. Specifically, I would like to bring your attention to the following key projects and programmes that we are determined to implement in 2018:

a. N9.8 billion for the Mambilla hydro power project, including N8.5 billion as counterpart funding;
b. N12 billion counterpart funding for earmarked transmission lines and substations;
c. N35.41 billion for the National Housing Programme;
d. N10.00 billion for the 2nd Niger Bridge; and
e. About N300 billion for the construction and rehabilitation of the strategic roads mentioned earlier.

Consolidating on the Social Intervention Programme

71. This Administration remains committed to pursuing a gender-sensitive, pro-poor and inclusive growth. We are keenly interested in catering for the most vulnerable. Accordingly, we have retained the 500 billion Naira allocation to the Social Intervention Programme. Under the programme, 100 billion Naira has been set aside for the Social Housing Programme.

72. Government will also continue to implement the Conditional Cash Transfer (CCT) programme, as well as the National Home-Grown School Feeding programme in 2018. These initiatives are already creating jobs and economic opportunity for local farmers and cooks, providing funding to artisans, traders and youths, as well as supporting small businesses with business education and mentoring.

Regional Spending Priorities for Peace, Security and Development

73. To maintain peace and security in the Niger Delta for economic and social activities to thrive, the provision of 65 billion Naira for the Presidential Amnesty Programme has been retained in the 2018 Budget. In addition, the capital provision for the Ministry of Niger Delta has been increased to 53.89 billion Naira from the 34.20 billion Naira provided in 2017. This is to further support the development in the region. We will complete all critical projects, including the East-West Road, which has a provision of about 17.32 billion Naira in 2018.

74. Across the nation, and particularly in the North East region, our commitment to the security of life and property remains absolute. We will ensure that our gallant men and women in arms are properly equipped and well-motivated. The result of our efforts is evident in the gradual return to normalcy in the North East. It is in this spirit that I recently assented to the North-East Development Commission Bill that was passed by this Distinguished House. We expect that this development will consolidate on our ongoing efforts to combat insurgency, reintegrate Internally Displaced Persons and rebuild communities in the North East Region, which have been adversely affected by the insurgency.

75. Similar attention is being given to efforts to reduce violent crime across the country. The Nigerian Army was recently deployed to combat the growing scourges of cattle rustling and banditry that have plagued our communities in Kaduna, Niger, Kebbi, Katsina and Zamfara States. We will also continue to arrest the incidence of Armed Robbery, Kidnapping and other Violent Crimes across our nation.

76. We have also increased our focus on cyber-crimes and the abuse of technology through hate speech and other divisive material that is being propagated on social media. Whilst we uphold the Constitutional rights of our people to freedom of expression and association, where the purported exercise of these rights infringes on the liberties of other citizens or threatens to undermine our National Security, we will take firm and decisive action.

77. In this regard, I reiterate my call for Nigerians to exercise restraint, tolerance and mutual respect in airing any grievances and frustrations. Whilst the ongoing national discourse on various political issues is healthy and welcome, we must not forget the lessons of our past. I trust that the vast majority of our people would rather tread the path of peace and prosperity, as we continue to uphold and cherish our Unity in Diversity.

Conclusion

78. Distinguished and Honourable Members of the National Assembly, you will recall that in my 2017 Budget Speech, I promised a new era for Nigeria and an end to the old ways of overdependence on oil revenues. The statistics and initiatives I mentioned clearly show that this new era has come and the old Nigeria is surely disappearing. We must, therefore, all work together to protect and sustain this CHANGE to create a new Nigeria:
a. A Nigeria that feeds itself;
b. A Nigeria that optimally utilizes its resources;
c. A Nigeria with a diversified, sustainable and inclusive economy.