Connect with us

Politics

‘We Borrow Based On Your Approvals,’ FG Tells Lawmakers

Published

on

Spread the love

 

Ekwutosblog has gathered that the Federal Government has given insight into why it was exceeding revenue targets and still borrowing, telling the National Assembly that it did that based on the approvals of both the Senate and the House of Representatives.

This was disclosed during an interactive session Federal Government’s revenue generating agencies had with the Senator Sani Musa (APC, Niger East) led National Assembly’s joint Committees on Finance, Budget and National Planning on 2025-2027 Medium Term Expenditure Frame Work, MTEF, and Fiscal Strategy Paper, FSP, today.

At the one-day session that lasted over four hours in Room 231, Senate wing, the revenue generating agencies made their separate presentations on 2024 budget performance and revenue projections for N49.7 trillion 2025 budget.

Senate’s query
The Nigeria Customs Service, NCS; Nigerian National Petroleum Company Limited, NNPCL, and Federal Inland Revenue Service, FIRS, all exceeded their revenue targets.

They raked in a combined revenue of N36.952 trillion, which is way above the target for the 2024 fiscal year.

At the end of their presentations, members of the Committees took them up on why the Federal Government was still seeking for foreign loans despite the high increase of internally-generated revenues.

Senator Adamu Aliero (PDP Kebbi Central) was the first to ask: “What is the Federal Government doing with excess revenues generated by the various agencies in view of its unending request for foreign loan approval?”

In his response, the FIRS boss noted that loans being requested by the executive were already part of the appropriation act.

Bagudu and Edun react
Also responding, the Minister of Budget and Economic Planning, Senator Atiku Bagudu, explained that the lawmakers should not forget that the borrowing plans contained in the N35.5 trillion 2024 budget were primarily meant to fund the deficit which is N9.7 trillion.

Bagudu said: “Despite revenue targets surpassing by some of the revenue generating agencies, government still needs to borrow for proper funding of the budget, particularly in the area of deficit and productivity for the poorest and most vulnerable.

“We have a long term development perspective plan agenda 2050 aiming at GDP per capital of $33,000.”

On his part, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, explained to the lawmakers that borrowing was still needed for proper funding of the budget despite increased revenues made by some agencies.

 

Politics

Zelensky dampens hopes Trump could strike peace deal with Putin

Published

on

Volodymyr Zelensky has insisted that Ukraine will never recognise occupied Ukrainian territories as being part of Russia
Spread the love

Volodymyr Zelensky has insisted that Ukraine will never recognise occupied Ukrainian territories as being part of Russia, even if pressured to do so by allies, dampening hopes that Donald Trump may be able to strike a peace deal.

‘No matter what anyone wants, even if all the allies in the world unite, we will never recognise the occupied territories [as part of Russia]. This is impossible,’ the Ukrainian president emphasised.

‘We will not legally recognise them. For us, they will always remain occupied territories until we liberate them.’

Trump, who took office for a second term on Monday and was last in power before Russia launched its full-scale invasion of Ukraine, has repeatedly said he could end the war swiftly, without specifying how.

His newly-appointed Secretary of State Marco Rubio said on Tuesday that ending the war was a priority for the president, but would only be possible if both sides make significant concessions.

‘Anytime you bring an end to a conflict between two sides, neither of whom can achieve their maximum goals, each side is going to have to give up something,’ he told CNN, adding that ultimately the decision would be down to the Ukrainians and Russians.

It comes after Russian Deputy Foreign Minister Sergei Ryabkov said today that Moscow sees a small window of opportunity to forge agreements with the new US administration.

‘We cannot say anything today about the degree of the incoming administration’s capacity to negotiate, but still, compared to the hopelessness in every aspect of the previous White House chief (Joe Biden), there is a window of opportunity today, albeit a small one,’ Ryabkov said, according to Interfax.

Volodymyr Zelensky has insisted that Ukraine will never recognise occupied Ukrainian territories as being part of Russia

 

Donald Trump, who took office for a second term on Monday, has said he could end the war swiftly, without specifying how

 

A Russian soldier fires a self-propelled gun

 

‘It’s therefore important to understand with what and whom we will have to deal, how best to build relations with Washington, how best to maximise opportunities and minimise risks,’ he said, speaking at the Institute for US and Canadian Studies, a think-tank in Moscow.

Trump warned on Tuesday that he would likely impose more sanctions on Russia if President Vladimir Putin refused to negotiate to end the nearly three-year-old conflict.

He gave no details on the possible additional sanctions on Russia, which is already under significant Western sanctions over the war.

The new president also issued a blow to the Kremlin on Tuesday, accusing Putin of ‘destroying Russia‘ with his failed war as he urged him to ‘make a deal’ to end the conflict.

‘He has to make a deal. I think he is destroying Russia by not making a deal,’ Trump said in a stark warning to the dictator.

‘I think Russia is going to be in big trouble,’ he added, saying that Putin ‘can’t be thrilled that he’s not doing so well.’

‘I mean, he works hard, but most people thought the war would be over in about a week, and now it’s been three years, right?’

The Russian economy was sinking, he went on, with inflation a major threat.

Putin, 72, earlier said he was ready to engage with Trump but still insisted on an outcome favouring Russia.

‘We are open to dialogue with the new US administration on the Ukrainian conflict. The most important thing here is to eliminate the root causes of the crisis,’ said the Russian ruler. An initial phone call is expected by Moscow to take place soon.

Trump said Zelensky was ready for a deal to halt the debilitating conflict, and the 78-year-old US leader said he planned to meet Putin with whom he had a ‘great relationship’ during his first term.

‘We’re going to try to do it as quickly as possible. You know, the war between Russia and Ukraine should never have started.’

Trump warned on Tuesday that he would likely impose more sanctions on Russia if President Vladimir Putin refused to negotiate to end the nearly three-year-old conflict

 

After months of Ukraine occupying parts of Russia’s Kursk region as it aims to improve its position in the event of talks, Zelensky stated that any dialogue could only go ahead with Kyiv in a position of strength.

Putin cannot be treated as legitimate in this situation. He has violated everything. He must understand his transgression,’ the Ukrainian president said today, adding that if Putin was ‘approached as an equal – that would be a loss for Ukraine.’

But, he said, his government’s top priority was to find a way to halt the war, which has claimed the lives of at least 43,000 Ukrainian soldiers, according to figures released by Ukraine in December.

‘We must find all possible ways to end the hot phase of the war. This is the number one issue,’ Zelensky said.

‘There can be many talks, but the main goal is to stop the active phase. This is the first guarantee of security.’

Russia has occupied Crimea since its 2014 invasion of the territory. Months later it took large parts of the Donbas region, launching a was under the guise of a separatist uprising.

Since the full-scale invasion in 2022, Russian forces have controlled large swathes of southern and eastern Ukraine.

Meanwhile, since a surprise attack in August, Kyiv’s forces occupy around 600 sq km of Russian territory.

Read more

Continue Reading

Politics

Trump orders ‘blackout’ at CDC, FDA, NIH as agencies prepare for MAGA

Published

on

The incoming Trump administration has ordered a pause on all external communications from the federal health agencies (Trump is pictured above at a news conference in the Roosevelt Room of the White House yesterday)
Spread the love

Donald Trump has ordered a communications blackout at America’s federal health agencies, according to reports.

The CDC, FDA, HHS and NIH have all been told to pause external communications, including publishing scientific reports, updating websites or issuing health advisories.

The directive came without warning, sources told the Washington Post, and with little guidance as to how long it may last.

The health agencies play a vital role in gathering and sharing critical information with the public, including on outbreaks of infectious diseases, raising the alarm over foodborne disease outbreaks and food recalls.

However, DailyMail.com received its automated weekly FDA recall email at 8am ET this morning.

It is not entirely unusual for incoming administrations to pause external communications temporarily, which may be done to help newly appointed officials understand the scope of information that is being released.

But some said that if the pause lasts longer than a week or two then it could be seen as concerning.

The new president, 78, singled out public health agencies in his inaugural address — saying that they ‘do not deliver in times of disaster’, referring to what many have seen as a mishandling of Covid messaging.

Robert F. Kennedy Junior has been nominated to head up the HHS, which has oversight over all the federal health agencies.

As part of his ‘Make America Healthy Again’ pledge, he has promised to overhaul the three agencies.

The communications blackout was issued by Stefanie Spear, a deputy chief of staff at HHS who joined the agency this week. She was also RFK Jr.’s press secretary during his presidential campaign.

The pause on external communications includes blocks on publishing scientific reports issued by the CDC, known as Morbidity and Mortality Weekly Reports (MMWR), advisories sent out to clinicians on the CDC’s health network, data updates to the CDC website, and public health data released from the National Center for Health Statistics, including on drug overdose deaths.

The CDC had been scheduled to publish several MMWR reports this week, sources familiar with the matter said, including three on the bird flu outbreak alarming scientists.

It was not clear whether the directive also blocked the agencies from sharing urgent communications, such as on drug approvals or novel disease outbreaks.

Dr Lucky Tran, a Democrat-leaning science communicator at Columbia University, blasted the order as the beginning of censorship.

Jeff Jarvis, a retired professor of journalism at City University New York, said: ‘This is terrible: Forced ignorance on health data.

‘Officials in sane and scientific states must band together to report data on their own. We need such shadow governments.’

The CDC publishes on average about 50 peer-reviewed articles per week, in addition to updating numerous datasets and other materials, while the FDA initiates more than 500 food recalls per year.

The CDC receives about $24.9billion in public funding every year, while the FDA costs $8.4billion and the NIH costs more than $47billion annually.

At the beginning of Trump’s first term, administration officials also asked public health agencies to cease communicating with the public it was reported at the time.

At that time, the limits appeared focused on agenices overseeing environmental and scientific policy, such as the Environmental Protection Agency.

Read more

Continue Reading

Politics

Putin Hails Trump On Inauguration As US President For Second Time, Says Russia Willing To End War

Published

on

Spread the love

Russia President Vladimir Putin has congratulated Donald Trump as he is being inaugurated as the 47th President of the United States.

Putin on Monday, 20th of January 2025 revealed he was open to dialogue with the new U.S. administration on Ukraine and nuclear arms. He also indicated that Moscow was ready to discuss nuclear arms control and wider security issues.

In a video broadcast, Putin noted that he was interested in a long-lasting peace in Ukraine rather than a short-term ceasefire with the country.

He made the comments during the Russia’s Security Council meeting that was shown on state TV. According to him, “We see the statements by the newly elected president of the United States and members of his team about the desire to restore direct contacts with Russia,” said Putin.

“We also hear his statement about the need to do everything possible to prevent World War Three. We of course welcome this attitude and congratulate the elected president of the United States of America on taking office. “As for the resolution of the situation (in Ukraine) itself, I would like to emphasise that the goal should not be a brief ceasefire, not some kind of period of respite that would allow a regrouping and rearmament of forces, but a long-term peace based on respect for the legitimate interests of all people and all peoples who live in the region.”

Continue Reading

Trending