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2019 Polls: We Won’t Divert N2.4trn Project Fund -FG
The Vice President, Prof Yemi Osinbajo, yesterday, assured that, contrary to speculations in some quarters, the President Muhammadu Buhari-led Federal Government will not divert the N2.4trillion capital project funds in the 2018 budget for political purposes in the coming 2019 general elections.
The Federal Government also assured that the 2018 capital budget of N2.4trillion would be strictly deployed to fund infrastructural projects across the country, particularly the completion of ongoing projects.
Minister of Finance, Mrs Kemi Adeosun, gave the remark while representing the vice president at a lecture delivered to Course 26 participants at the National Defence College (NDC) in Abuja.
In a statement issued by her spokesman, Mr. Oluyinka Akintunde in Abuja, Adeosun quoted the vice president as saying that the Federal Government’s capital budget would be strictly deployed to fund infrastructural projects across the country.
Osinbajo added that the Federal Government would retain the capital budget in spite of the forthcoming elections in the country.
The title of the lecture is “Economic Dimensions of National Security: The Nigerian Experience”.
While responding to an enquiry by a member of the NDC Course 26 on the use of the capital budget for the general elections, Osinbajo maintained that the incumbent administration would not engage in the diversion of the capital project funds for the forthcoming elections.
“The administration remains committed to infrastructure spending at the high levels of the past two years and the completion of major ongoing projects,” the statement said.
It also reiterated the commitment of the Buhari-led administration to its programme of transformation, jobs and wealth creation across the country.
Osinbajo, however, reiterated the Federal government’s resolve towards boosting the country’s economy through infrastructure development.
It would be recalled that President Muhammadu Buhari had on November 7, 2017, presented a budget of N8.612trillion to the National Assembly, with focus on massive infrastructure development which includes: key strategic roads, rail and power projects, among others.
Earlier in the lecture, Osinbajo said improvement in economic security was vital to Nigeria’s economic growth, human security and realisation of national defense and security requirements.
He assured that the Federal Government would continue to play a key role in ensuring national cohesion by promoting social inclusion as a key state objective.
“Economic development is a springboard for improved national security because it comes with growth which enables more resources for a growing population.
“National economic development means that a country can meet its national security needs without depending on outsiders for the provision of its defense and security needs.
“Depending on food and energy imports makes a nation vulnerable to external pressure,” he said.
Osinbajo said that the administration adopted the Economic Recovery and Growth Plan (ERGP) as a response to the recession toward restoring growth and reducing Nigeria’s vulnerability to external shocks.
He explained that the ERGP was initiated to address macroeconomic balance, increase contribution of agriculture, manufacturing, mining and high value services to the economy.
On the Social Investment Programme, Osinbajo revealed that about 200,000 N-Power Jobs had been created under the programme while 250 million meals had been served under the Home Grown School Feeding Programme.
He added that 300,000 micro loans had been issued under the Government Enterprise and Empowerment Programme.
Osinbajo expressed optimism about Nigeria’s economic outlook for 2018, noting that the Federal Government expects the economy to grow by 3.5 per cent.
“The inflation projection of 15.74 per cent by end of 2017 was achieved and there is good reason to believe that the ERGP target of 12.42 per cent by the end of 2018 can be achieved.
“With regard to foreign exchange reserves, the level of $40.3billion achieved by end January is already quite close to the amount of $43.53billion projected in the ERGP for the end of this year.
“Given the current state of the oil market, this is a target that can readily be achieved,” he said.
My-ACE China, known as the Mayor of Housing, has won the 2024 Man of the Year. The award was announced by board of trustees of the DMOMA Awards Academy in Port Harcourt at the week.
The organisers also declared his company, the Construction and Housing Mayor Limited as the brand promoter of the year, the third in a row.
The award ceremony which was held at the Arena Event centre in the GRA area of Port Harcourt was attended by several dignitaries in the society.
The organisers led by Dr. Ezebunwo Nyeche (chairman) and Stephen Chidiebere Okoye (Awards organizer) said in a statement that China was picked for his support and impact to small and medium enterprises in Rivers State, his media footsteps and his consistent propagation and promotion of Rivers State.
They noted that China won over 10 prestigious awards in 2024 alone on his track to promote Port Harcourt as a brand destination and Rivers as a peaceful state.
Handing the award to China, the organisers said the Mayor of Housing always comes to the rescue of events that aim to promote Rivers State, saying the DMOMA Awards would be held in two more cities in 2025.
Responding, Mr China said there is need for more sponsorship of talents in Port Harcourt and the Niger Delta, saying what they lacked was support.
“There is more talent in Port Harcourt but there is more support in Lagos to artistes than in Port Harcourt. So, the top talents in Port Harcourt work 10 times harder than those in Lagos to attract sponsorship.”
He also said Nigeria has a treasure base which is Port Harcourt but that the treasure is not oil and gas but talents. He said he was highly elated to win the of Man of the Year Award with his firm winning brand of the year.
In an interview, My-ACE China said he was particularly impressed with the diligence demonstrated by the organisers and the processes they used to pick winners every year.
He also said the victory showed attention paid by the organisers to unveil the personality behind the corporate masquerade, not just focusing on the company. “It actually reaffirms one of my quotes that a brand can only grow as big as the character of the visioner behind it.”
On his plans to help Port Harcourt compete with Lagos, China said 2025 will meet him doing things with the youths of Rivers State to push the Port Harcourt brand in the social media and rally the traditional press to create a positive narrative of Rivers State beyond violence and political negativity.
“The Garden City has not been enjoying the best of media perception for some years now but this is the first time we have a governor committed to non-political bias in doing his work. He does not consider whether you are a member of his party or not before doing what is right. For the first time, we have a true father of the state to all, and he has been diligently following the blueprint that stakeholders developed at the last Rivers Economic and Investment Summit, making sure he is doing it without political cronyism.”
He said his company would be building the biggest estate and the best, the ‘Alesa Sustainable Smart City, to move from brand perception to brand experience so as to move Rivers State to the next level.
He appealed to entrepreneurs not to be carried away by the old perception but to join the new way. “Position yourself because there is going to be a boom. People are rushing into Port Harcourt and new entrants may take the ground. Think expansion not contraction, think investment not divestment. Else, you miss it.”
To fellow estate investors, he admonished them to gear up for regulation. “It is no longer going to be business as usual especially for land peddling and land grabbing. Try to grow up because tangible development is going to take over.
“It is no longer going to be who sells the most land but who develops the most houses. The housing deficit in the land requires effective land development strategies. Any serious land seller should grow into a housing developer because developments are going to be coming into Rivers State and a lot of people are coming into the state.”
He said those that have grown to be developers will be many times richer than those that are just starting or are mere land sellers and peddlers. People should also position themselves because all the foreign investments and local ones will take advantage of this influx.
“The value of influx is coming, so prepare and take advantage. Be one of those that are big enough to take advantage. Remaining small will not be good but grow big in your products, in your services, because the market is going to grow big.”
Rivers State Governor, Sir Siminalayi Fubara, has expressed shock and sadness over the death of a former military governor of the State, Major-General Godwin Osagie Abbe (rtd).
Late Abbe, who hails from Edo State, was military governor of Rivers State between August, 1990 and January, 1992.
Governor Fubara described late Gen Abbe as one leader who dedicated himself to the service and wellbeing of Rivers people and humanity during his administration in the State, saying that the death of the distinguished military officer, politician and administrator was a very huge loss to the State, the Niger Delta, and indeed, the entire country, having traversed the length and breath of the nation in the cause of his military and political careers.
“On behalf of my family, the Government and good people of Rivers State, I condole with the family of the Abbes, the Edo people, and the Nigerian military on the demise of this colossus, whose contributions to the unity, peace and development of the nation are legendary.
“While we mourn his painful exit at this difficult time, we pray for the eternal repose of his soul, and urge the family to take solace in the fact that late Gen Abbe lived a fulfilled life in the service of his fatherland.”
Wife of Rivers State Governor, Lady Valerie Siminalayi Fubara, has noted with delight that Rivers children are well behaved, and has admonished them to remain supportive of their parents while striving always to make a difference wherever they find themselves.
Lady Fubara gave the counsel at the 2024 Christmas Children Party, attended by children from the 23 Local Government Areas of the State, including non-indigenes, at Government House in Port Harcourt on Thursday.
The Christmas Children Party also witnessed the presence of Governor Siminalayi Fubara, who stopped over to share moments with them, walking from one canopy to another, waving at them, and at other times, shaking hands with them to leave lasting memories on them.
The Rivers First Lady pointed to the importance of the celebration of Christmas, which draws attention to the birth of Jesus Christ, demanding that people have a deep reflection of the love that is demonstrated and mission of the birth, which is to redeem mankind.
Lady Fubara recalled how she took out time to visit the University of Port Harcourt Teaching Hospital and the Rivers State University Teaching Hospital, where she appreciated God for safe delivery of children born on Christmas day while felicitating with the nursing mothers.
She also stated the valuable time spent with motherless babies when she visited the Port Harcourt Children’s Home in Borikiri, old Port Harcourt Township, and celebrated their meekness, innocence and the beauty they bring to the world.
She said, “Even today, as we continue the celebration, efforts were made to extend invitation to our children in all the 23 local government areas of our State. In doing this, children from all classes of society, including the physically challenged, have been offered the opportunity to sit together as brothers and sisters, play, eat and dance.
“Whilst contemplating the uniqueness of celebrating Christmas on a Boxing Day, steps were equally taken to provide gifts for the children who are there, and also to pray for them, a qualitative fun session that will last in their memories.”
Lady Fubara advised all children in the State to remember that Jesus came into the world to make a difference, advising that they must emulate him so that they can positively impact their families and society.
She urged them to pray fervently to God to bless and prosper their mothers, daddies, aunties and uncles to better cater to their needs.
She added, “Be humble, obedient and supportive at home. Do household chores, and don’t forget to make excellent grades in school next academic session. Children are the joy of every home, and we are glad to have beautiful, well-behaved children in Rivers State.
“Thank you all for witnessing this 2024 Children’s Party, and I pray God Almighty to protect, shield and keep you safe from all negative companies in the name of Jesus. I wish you a Merry Christmas and a Prosperous 2025. God bless you all,” she said.
Lady Fubara expressed appreciation to her husband and Governor of Rivers State, Sir Siminalayi Fubara, for his absolute commitment to the growth of children, and the immeasurable support that ensured that Christmas Children Party was a success.
There were performances by Virtue Dancers, Kalabari Iria dancers, Wonder Time Children of Opobo Kingdom, Children of Rivers State Council of Arts and Culture, Diseye the Poet and DJ Arnold.