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Buhari Proposes N6.9tr for 2017 Budget…See Interesting Details

President Muhammadu Buhari seems to be fast-tracking things as he has already proposed the 2017 budget before the National Assembly.
President Muhammadu Buhari
President Muhammadu Buhari has proposed a budget of N6. 9 trillion for 2017 fiscal year. This was contained in the 2017 – 2019 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) the president sent to the National Assembly yesterday.
The proposal is nearly a trillion naira more than this year’s N6.06 trillion budget, Dailytrust reports.
Buhari has already sent the document to the Senate President, Bukola Saraki Saraki and the Speaker of the House of Representatives, Yakubu Dogara. He further revealed that he is already preparing to submit the 2017 budget as work on the budget in ongoing.
The document articulates the government’s economic, social and developmental objectives and the strategies for achieving them, he said.
Dailytrust further reported that the president noted that the decline in oil price since mid 2014 had continued to expose the Nigerian economy to both domestic and external vulnerabilities.
The crude oil benchmark has been jerked up from $38 in 2016 to $42.5 per barrel for 2017.
The exchange rate has also been jerked up from N197 per dollar to N290 but the daily crude oil production of 2.2 million has been retained.
The sum of N2.6 trillion is for recurrent (non-debt) expenditure, N1.8 trillion for capital expenditure; N1.6 trillion for debt service and N370 billion for statutory transfers.
The special intervention programme is allocated N350 billion, a reduction of N150 billion from that of this year while N177 billion is allocated for sinking fund to retire maturing loans.
The budget also showed that out of the N2.6 trillion proposed for recurrent (non-debt expenditure), N1.8 trillion is for personnel costs (MDAs).
Others are N188 billion for CRF pensions; N180 billion for overheads; N120 billion for SWV pensions; N145.7 billion for Service Wide Votes; N65 billion for the Presidential Amnesty Programme and N50 billion for refund to special accounts.
The three-year expenditure framework goes thus; N6, 866,335,052,740 – 2017; N6, 847,573,238,276 – 2018;  N7, 117,671,597,899 – 2019.
The document revealed that as means of attracting non-budgetary resources, the government is working towards setting up a $25billion Infrastructure Development Fund.
“As the fund becomes established, government may move some critical capital projects and related budgetary resources, currently in the purview of MDAs to the fund. This will  ring-fence resources committed to the completion of the projects in a more efficient manner,” it said.
The Gross Domestic Product (GDP) is projected to grow at 3.02 percent in 2017 and inflation is expected to moderate to 12.92 percent.
The document showed that the country’s total public debt stood at $61.45billion about N16.3trillion as at 30th June 2016.
“The total debt stock is composed of external debt stock of $11.26 billion (about N3.9trillion) and domestic debt stock of $50.19 billion (N13.1trillion). 
“Of the total domestic debt, the Federal government was responsible for about 74.6 percent while the 36 States and FCT accounted for the balance,” the document reads.
President Buhari said the proposals were designed against the backdrop of the adverse global economic environment as well as fiscal challenges in domestic economy.
This year’s budget of N6.06 trillion is unprecedented but its implementation has been severely affected by falling crude oil prices and disruption in domestic production due to constant attacks on oil facilities in the Niger Delta.
The attacks have at one point cut production by nearly a million barrel per day.

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12-year-old boy kills landlady as condition to be initiated into a cult

Ethiope East Local

A 12-year-old boy, who allegedly robbed and killed his landlady at Abraka, Ethiope East Local Government Area, Delta State, yesterday, was among those paraded for various offences by the state Police Command, yesterday.

 

The state Commissioner of Police, Mr. Zanna Mohammed, who briefed reporters on the arrest of over 60 kidnappers, robbers, murderers, cultists and ritualists in the last three weeks, said the teenager confessed that he committed the act because a cult group told him that one of the conditions for initiation was that he must have been involved in a criminal act.

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Headlines

Super Falcons striker, Asisat Oshoala, comes to Falz defence with regards to statement about glorifying fraudsters

Asisat Oshoala

Nigerian professional footballer, Asisat Oshoala, who plays as a forward in the Chinese Women’s Super league for Dalian Quanjian F.C., took to her Instagram to express deep concern about how people are now proud to be fraudsters.

 

 

In Falz’ defense, she insisted fraudsters shouldn’t be glorified.

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Foreign

Zimbabwean Church leader in s*x scandal as photos naked photos and sex acts with 33 girls is exposed

Church leader
A Zimbabwean church leader, Nyasha Light Nyatsungo is enmeshed in a sex scandal and might also be facing legal action, after his ex-girlfriend flooded social media with his nude photo.
It was gathered that the Nyatsungo allegedly sent a nude picture of his Cape Town based ex–side chick, Shingi Mavenge, to his other girlfriend only identified as Beula who later broadcasted it on social media.
According to H-Metro, in an apparent fit of rage, Mavenge posted a WhatsApp chat she had with Nyatsungo’s wife identified as Nyasha Nhahumbi as well as a group chat with some of her former lover’s concubines.
According to Mavenge, she has gotten information that Nyatsungo has at least 33 girlfriends and has ditched his wife of eight years.
She adds that Nyatsungo bedded a girl who was their neighbour as well.
Mavenge said that the church leader’s wife revealed that they even consulted their local pastor in Mutare who failed in his attempts to mend Nyatsungo’s ways.
According to H-Metro, Nyatsungo, a married father of two, has denied ever circulating the picture, labelling Mavenge as a bitter woman whom he just flirted with on Facebook and nothing more.
“This Nyasha guy must be stopped in his tracks. He is going to pay for all the damage that he has done to me. He was the only one who had that leaked picture and I am shocked why he would forward it to some other girl,” fumed Mavhenge who is working on taking legal action.
 
“I started dating this guy in 2015 and never knew he was married. He lied.”  fumed Mavenge yesterday.
“That guy is full of lies and at some point, we opened a group chat with his wife and some of his girlfriends. He normally targets single mothers” added Mavenge.
H-Metro was furnished with six other cellphone numbers of his girlfriend that include Fadzai, Mutsa, Essy, Juliana, Barbra among others. Mutsa confirmed she once had a relationship with Nyatsungo have since terminated it since she discovered he was married.
Mavenge confirmed they met once in Johannesburg when she had to fly from Cape Town to meet her man sometime in April.
“That night he didn’t even have money. I had to pay the R800 for the accommodation as he had no money. He wanted to have sex with me but I flatly refused. He even wanted it without protection and I said No. he looked terrible with clothes in a plastic shopping bag. I want to write a letter to Pastor Rex who is the head of (the church) in Harare so that this guy be stopped with his tricks and lies,” added Mavenge.
When contacted over the phone in Mutare Nyatsungo confirmed he knew Mavenge but never had a relationship with her.
“I know her and we once flirted on Facebook. We never had a relationship as she is alleging. I don’t know why she is bitter. I haven’t seen the nude pictures she is talking about but I heard about it from Beula. We live in a democratic country. She can go ahead and sue me if she feels her rights have been infringed upon. All the allegations she is making are false and I don’t know her motive in trying to tarnish my image,” said Nyatsungo.
He said he was still with his wife whose phone rang without response yesterday afternoon. Despite his denials, H-metro was furnished with pictures of Nyatsungo and Mavenge, the time they met in April.

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