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Editorial Suite

Odds against downstream deregulation - By Chijama Ogbu

 

Profile

Bar. Bello Mahmud: The New Registrar General for CAC

 

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No 2nd Term for YarÁdua – Billionaire Debtors Vow

 

Facts and figures

Federation Account: How They Share N332bn in October

 

The Sharing of N27.8bn on Exchange Rate difference in October 2009

 

List of Federal Perm. Secs and their States - Non from Bayelsa

 

List of Major Debtors in Nigeria

 

Exclusive Interview

No more Needless Borrowing in Public Offices - Aliyu Yelwa, Boss of Fiscal  Commission

 

Monetary

CBN Supports Deregulation, Allows ETB to Rectify Lapses

 

Communiqué No. 66 of the Monetary Policy Committee Meeting

 

List of Major Debtors in Nigeria

 

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Odey Inaugurates Panel on IWMF in Niger Delta

 

Finally FG, States Share $2bn from Excess Crude Account

Honours for EFCC Boss in USA

 

State News

Kano Spends N1bn on Sports Development as Governor bagged ‘Sardauna’

 

IDB advances N3.15bn loan to KDSG as Governor Approves N18mn for Training 

 

 

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Economic Confidential, February, 2009

STATE NEWS

 

 Governor Sambo Presents N153.17bn Budget

…Endorsed by LGs’ Chairmen

 

The Kaduna state government is to spend the sum of N153.170 billion for the 2009 fiscal year. The state governor, Arch. Mohammed Namadi Sambo made this known when he presented the budget proposal to the state House of Assembly.

 

This year’s budget is higher than that of 2008 which was N94.079 billion by about N49 billion. Sambo said while listing he achievements of his government last year that about 1,359,594 people including women and children benefitted from the government’s free health services even as 2,889 women enjoyed free Caesarian operation in both the primary and secondary health centers.

 

According to Sambo, the budget tagged budget of consolidation and stabilization will give more priority to education, electricity, transport, security, health, water supply and agriculture.

 

The Governor however acknowledged that the state will face financial crunch owing to dwindling oil process in the international market, pointing out that will be involved in revenue generation activities of the state revenue board to ensure increase in internally generated revenue for the state.

 

The governor also stressed that “armed with this uncomfortable situation, we are of the view that the revenue accruing to the States from this source will certainly be affected. To create its own economy that is self-sustaining and that will outlive the administration, Government is making concerted efforts to boost its Internally Generated Revenue potentials. It is exploring all internally generated revenue avenues and by modernizing the tax generation agencies in the State. This initiative is supported by the World Bank and DFID assisted Governance & Capacity Building Schemes. When properly implemented, it will double the efforts of the State in the revenue generation drive and minimize revenue losses.”

 

Meanwhile the Governor as part of the Eleven-Point Agenda to take Education to the next level has last year approved scholarship Awards and Payment to 8700 deserving students amounting to (N111,890,000.00) one hundred and eleven million, eight hundred and ninety thousand Naira only.

 

Similarly, the sum of (N43m) forty three million Naira has been approved for payment to Secondary School Teachers that engaged themselves in extra lessons and therefore deserve extra allowances. This is with a view to motivating the students and teachers to pursue their chosen endeavour with vigour so that the State shall be the better for it at the long run.

 

The governor enjoins the teachers and students to reciprocate this gesture by working hard to succeed in their respective fields and disciplines and that more efforts should be directed at giving our students quality lectures to prepare them for the future challenges that lay ahead.

 

Impressed by his sterling leadership qualities, the Chairmen of Local Government Councils, under the auspices of the Association of Local Governments of Nigeria (ALGON) have endorsed the governor's populace programmes and the positive impact he has made in the lives of the people in the state.

 

In a press conference held at the Kaduna Government House ,ALGON Chairman, Alhaji Ahmed Shehu Giant, said the resolution of the council chairmen to throw its weight behind the governor was borne out of their desire to see to the development of the state through the implementation of viable programmes and projects, saying "Let us also stress that we are very comfortable with the style of administration of Architect Mohammed Namadi Sambo and are very pleased to associate ourselves with his person, government and his populist programmes. "We wish to further state that his efforts in moving the state forward is acknowledged and strongly supported. It is a step in the right direction".

 

To read the full Budget Speech, click: Kaduna Budget 2009

   

SPECIAL FOCUS

List of Major Debtors in Nigeria

 

List of Bad Debtors in Federal Mortgage Bank of Nigeria (FMBN)

 

NEMA@10: The Story So Far

 

Questions and Answers on the Examinations of the 14 Banks by CBN

 

FEATURES

Africa's Foreign Reserves: In Reserve For Who?By Chika Ezeanya

 

Churches and Mosques Should Pay taxes - Mcdonald Koiki

 

Deregulating Robbery in Nigeria By Kola Ibrahim

 

Understanding Monetary Policy By Abubakar Jimoh

 

The Making of Ideal Economic Policies By: Salim Salihu Muhammed

 

The Putrid Mess Also in CBN By Les Leba

 

Still on Early Warning Alert System in Nigeria By Yushau A. Shuaib

 

District 9 and the Can of Wild Paradox by Segun Imohiosen

 

Nigeria: Time to Check to the Drift By Dansulieman Mohammed

 

Golden Casket: Between Gani Fawehinmi and Wacko Jacko- By Yushau A. Shuaib

 

NIGERIA@49: Tracing the Economic Intervention- By Abubakar Jimoh

 

NASENI: Striving to end Nigeria’s reliance on foreign good – By Umar Kari

 

Macroeconomic Framework for an Independent Economic Recovery- Salihu Muhammad

 

When Sony Undermines Campaigns of Akunyili and Aoandoka- By McDonald koiki

 

Archetypal Resurgence: The Lamido Sanusi Revolution- By Segun Imohiose

 

Banks and Money Laundering- By Les Leba

 

Oronsaye’s Civil Service reform- By hussaini Sani kagara

 

New Policy in the Civil Service: Hypocrisy at Work? –By Tope Ajakaiye

More Features

 

TAX MATTERS

* Church and Mosque Not Exempted from Tax - FIRS

… Use of Consultants for Tax Collection is an Aberration

*Finance Minister Advocates Partnership on Tax Issues

*FIRS Reopens PAN, Vows to Prosecute Defaulters

*How We Generate N808bn in Tax Revenue Within Six Months- FIRS Boss

*FIRS Generates Taxpayers Numbers for Bank Customers

*Historical Milestone as Online Tax Payment Begins

*FIRS Seals Two Oil Companies Over $610m Tax Arrears

*Firms Owed Govt N260b in Taxes

*Tax Identification Number to Reduce Tax Evasion- FIRS Boss

*Revenue Agencies to Make Full Disclosure- Finance Minister

*FIRS Delists 2 Banks over Non-Remittance of Tax