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Federal Government Budgets N552.6bn For Arms, Anti-Terror Fight

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The Federal Government has set aside N575.6 billion in its special finance budget to bolster the fight against insecurity and continue the anti-insurgency struggle.

A total of N184.25 billion was approved for the procurement of military equipment, weaponry, and ammunition under this.

This most recent amount was included in the N2.18 trillion supplementary budget for the fiscal year 2023, which was approved by the Federal Executive Council on Monday.

Details of the 2023 supplementary budget obtained by our correspondent on Tuesday indicated that out of this N552.6bn, the Ministry of Defence and the Armed Forces have been allocated over N147.03bn to upscale internal operations against Boko Haram, bandits, kidnappers, and other anti-insurgency wars.

Of the eight military and defense agencies allocated the total sum, the Nigerian Army, Nigerian Air Force, and the Nigerian Navy will get N211.5bn, N112.2bn, and N62.8bn, respectively. The three forces got the largest chunk of the military budget.

Out of this amount, recurrent expenditure will gulp over N245.1bn and capital expenditure, N329.99bn.

Speaking at the end of this week’s Federal Executive Council meeting at the Aso Villa, the Minister of Budget and Economic Planning, Abubakar Bagudu, said the budget is to “fund urgent issues, including national defense and security.”

Bagudu said, “N605bn for national defence and security is to sustain the gains made in security and to accelerate and these are funds that are needed by the security agencies before the year runs out.”

Equally, a sum of N300bn was provided to repair bridges, including Eko and Third Mainland Bridges, as well as the construction, rehabilitation, and maintenance of many roads nationwide before the return of the rainy season, while N18bn was provided for the Independent National Electoral Commission for the conduct of the Bayelsa, Kogi, and Imo elections and N5.5bn for the funding of the take-off of the student loans board, which begins loan disbursement in January 2024.

The document stated that N49.99bn was allocated to the Ministry of Defence, out of which N33.6bn was given as recurrent and N16.4bn as capital.

Out of the Nigerian Army’s N211.5bn, recurrent got N116.3bn while N95.2bn will go to capital expenditure. Also, N49.04bn was earmarked for the Department of State Services.

…plans purchase of arms and ammunition worth N184.25bn

Prominent among the capital projects of the Nigerian Army is the purchase of arms and ammunition, including the refurbishment and up-gunning/upgrade of 155mm self-propelled Howitzer Palmaria, artillery guns at the cost of N27.1bn, arms, ammunition and ancillary equipment for the Nigerian Navy at N8.92bn.

The Nigerian Air Force, which is also acquiring aircraft arms and ammunition budgeted N80.48bn.

The Department of State Services also listed N36.99bn for the acquisition of an IMSI catcher upgraded version at N1.19bn, MMG556 at the cost of N5.96bn, AK Alpha Rifle at N1.40bn, RPG 7V2 (40MM) at the cost of N1.53bn.

Other security agencies including the Ministry of Defence, the Nigerian Navy and Police got N7.5bn, N11.93bn, and N20.33bn respectively.

Our correspondent also observed that N31.59bn was budgeted to boost the morale of security officers in the form of allowances and severance packages.

This follows reports that 186 security operatives in the country have paid the supreme price while carrying out their duties in the country between January and September 2023

The security operatives including personnel of the military, Nigerian Security and Civil Defence Corps, the Vigilante Group of Nigeria, and the Nigeria Police Force paid the ultimate price while fighting crime in Zamfara, Niger, Borno, Delta, Imo, Anambra, Benue, and Enugu states, among others.

The government approved payment of N1.13bn for the insurance of the Nigerian Police Force critical assets for 2021/2022 policy, security debarment allowance for 37 and 38 regular courses at the cost of N18bn, N5bn was approved for the payment of outstanding group life assurance to the deceased for personnel from year 2011 to 2023 while N795m was appropriated for the burial expenses of deceased officers between  August 2021 and March 2023 amongst other welfare packages.

To boost oil theft fight with N16.03bn

Meanwhile, the federal government has approved the sum of N16.02bn to boost the fight against oil theft in the Niger Delta region.

The project code-named Operation Dakatar da Barawo means  ‘stop the thief’ in Hausa language and is domiciled under the Nigerian Navy.

The operation launched in September 2022  is a special operation launched by the Nigerian Navy in collaboration with the Nigerian National Petroleum Limited to stop oil thieves from further sabotaging the nation’s oil and gas installation in the Niger Delta region.

The government also plans to spend N5.09bn on the president’s yacht.

BIG STORY

Federal Government Earmarks N827bn For Education Infrastructure In 2025 Budget

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Nigeria’s President, Asiwaju Bola Ahmed Tinubu, has announced that the Federal Government has disbursed a total of N34bn in loans to students studying at tertiary institutions across the country through the “Nigeria Education Loan Fund.”

The President made this statement on Wednesday while presenting the N49.7tn 2025 budget estimates to a joint session of the National Assembly. He also highlighted that the government has allocated N826bn for infrastructure development in the education sector for the 2025 fiscal year.

He stated, “Our administration has so far disbursed N34bn to over 300,000 students via the Nigeria Education Loan Fund.”

“In the 2025 budget, we have made provision for N826.90bn for infrastructure development in the educational sector. This provision also includes those for the Universal Basic Education and the nine new higher educational institutions.”

He continued, “We are convinced that Universal Health Coverage initiatives will strengthen primary healthcare systems across Nigeria. In this way, we have allocated N402bn for infrastructure investments in the health sector in the 2025 budget and another N282.65bn for the Basic Health Care Fund.”

“Our hospitals will be revitalised with medication and better resources, ensuring quality care for all Nigerians.”

“This is consistent with the Federal Government’s planned procurement of essential drugs for distribution to public healthcare facilities nationwide, improving healthcare access and reducing medical import dependency.”

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BIG STORY

President Tinubu Targets N1,500 Per Dollar Rate In 2025 Budget Goals

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Nigeria’s President, Asiwaju Bola Ahmed Tinubu, on Wednesday, stated that the Federal Government aims to stabilise the exchange rate at N1,500 to the dollar to ensure the smooth implementation of the 2025 budget.

This marks a reduction of about N200 from the current rate of N1,700 to a dollar.

President Tinubu made this known while presenting the 2025 Appropriation Bill to a joint session of the 11th National Assembly in Abuja.

“The budget projects that inflation will decline from the current rate of 34.6% to 15% next year, while the exchange rate will improve from approximately N1,700 per dollar to N1,500. The base crude oil production assumption is set at 2.06 million barrels per day”, he said.

“The projections are based on the following observations: reducing the importation of petroleum products, increasing exports of refined petroleum”. He added.

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BIG STORY

JUST IN: 32 Reportedly Die In Ibadan Children Programme Stampede

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At least 32 people have tragically lost their lives during a stampede at a children’s carnival in Ibadan, the Oyo State capital, in the early hours of Wednesday.

A statement from the Commissioner for Information and Orientation, Prince Dotun Oyelade, revealed that the stampede occurred at a private children’s funfair at Islamic High School, Basorun, resulting in the deaths of 32 people, mostly children, with some others sustaining injuries.

He mentioned that the state government promptly deployed a rapid response team to the site following the incident.

The commissioner confirmed that the victims have been transported to various hospitals across Ibadan for medical treatment.

While thanking the Commissioner for Health, Dr. Oluwaserimi Ajetunmobi, for quickly activating all available response teams to assist at the scene, Oyelade emphasized that the state government will do everything possible to support the victims of the stampede during this difficult time.

He noted that the sate government was not involved in the planning of the carnival, adding that the Ministry of Health was also not carried along in the organisation of the private end of the year children funfair.

Oyelade emphasised the importance of proper coordination when organising events of such magnitude, especially those involving children and elders.

“We are currently awaiting a detailed report from the Commissioner of Police to clarify the total number of victims involved in this unfortunate incident,” he said.

The commissioner urged parents who are concerned about the whereabouts of their children to check the following medical facilities in Ibadan where affected children were taken for proper medical attention, with a valid means of identification:

  • Patnas Hospital, Basorun
  • Western Hospital, Basorun
  • Ringroad State Hospital
  • Molly Specialist Hospital
  • University College Hospital (UCH)

“Oyo State Government extends its deepest sympathies to the families affected by this tragedy while also urging the public to remain calm and cooperative as relevant pieces of information are gathered and necessary supports arranged for the victims,” he added.

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