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- Details: Buhari government proposes N8.5trn Budget for 2018
- "Peter Obi Demanded N7.5bn For Sponsoring My Election" – Gov. Obiano Insists
- See 87yrs Old Senator Dancing With His Young Bride Ijeoma at their church wedding
- Hummer Jeep being used to carry Bamboo sticks in the East?
- Solange's hair for ES magazine is everything ... | Mr Olumide's Blog
- Tonto Dikeh and Dabota Lawson twerk | Mr Olumide's Blog
- (Photos) Pretty twin sisters wed same day in Abia | Mr Olumide's Blog
- Tiwa Savage puffs away during music video shoot | Mr Olumide's Blog
- TRAGIC! School Children Killed On Abuja Highway As Truck Rams Into Bus
- Patience GEJ blocks EFCC from seizing her two properties
- Tonto Dikeh reveals the one thing which is 'here to stay' | Mr Olumide's Blog
- Two school children killed as truck rams into school bus on Abuja highway | Mr Olumide's Blog
- Boko Haram insurgents kill 7 soldiers in Maiduguri | Mr Olumide's Blog
- Dasuki used N1.4bn for national prayer—EFCC | Mr Olumide's Blog
- Man Jailed For Pouring Hot Oil On A Young Girl In Abuja
- Nollywood good girl Chioma Chukwuka looks cute in new pic
- PHOTOS: Flood Submerges 21 Communities In Delta State
- My ex paid his way to making me look like a liar - Tonto Dikeh | Mr Olumide's Blog
- I was kidnapped twice by ritualists - Oluwo of Iwo kingdom | Mr Olumide's Blog
- Two school children killed on their way back from school | Mr Olumide's Blog
- Gospel Singer Benita Okojie & Husband In Maternity Shoot
- Actor Yul Edochie Wants To Be Anambra Governor, Takes His Campaign To Market
- Soldiers Destroy Militant Camps In Edo, Arrest 7 Suspects
- Bobrisky finally reveals why he didn't go through with his butt surgery | Mr Olumide's Blog
- Buhari Meets Super Eagles Stars Playing In Turkish League
| Details: Buhari government proposes N8.5trn Budget for 2018 Posted: 19 Oct 2017 02:16 PM PDT  The proposed amount, which is exactly N8.595trn, represents about 15 per cent increase from the 2017 current budget of N7.44trn. The proposal which was obtained by Daily Trust, is, however, subject to review by either lawmakers or the Presidency. The Federal Government had said that the 2018 budget proposal would be submitted to the National Assembly this month - October. The MTEF and FSP documents were presented to House of Reps and read at plenary on Tuesday. President Buhari said the proposed budget is predicated on an oil benchmark of $45 per barrel, with daily production output of 2.51 million barrels per day (bpd).Exchange rate stands at N305/$1. The president said the oil benchmark was based on moving average (MA) model, which de-links the benchmark from short and medium-term fluctuations in the market price of oil. "...in line with current realities in the international oil market, including weakening outlook of future prices occasioned by rising oil and unconventional oil supplies and slow economic recovery, as well as other potential downside risks, a benchmark oil of $45pb for 2018, $50pb for 2019 and $52pb in 2020 have been proposed," he said. The proposal was against the backdrop of projected oil prices ranging from $50pb to $60pb in 2018 as the market regains balance, the document said. The total budget proposal includes N199.91bn grants and donor funding, the president said. It was learnt that the proposed 2018 budget is about N1.16trn above this year's, it showed that capital expenditure would take N2.377trn, or 30.22 percent, against this year's 31.73 percent (N2.174trn). Recurrent expenditure takes over N6trn, representing 69.78 percent. The aggregate revenue to fund the 2018 budget is projected at N5.65trn - 11.0% or N562.50bn over the 2017 estimate of N5.08trn. The MTEF document showed that 43.2 percent of the above amount is projected to come from oil sources, while the balance is to be earned from non-oil sources. "Following from the revenue projections and expenditure estimates, the fiscal deficit is estimated to increase by N592.75bn (or 25.0%) from the estimate of N2.36trn in 2017," the document said. Out of the total proposal of N8.6trn, the actual expenditure showed that N3.169trn is for recurrent (non-debt); N2.122trn for personnel costs (MDAs); N2.028trn for debt service; N350bn for special intervention programme (recurrent); N245.2bn for overheads; N191.631bn for CRF pensions; N194.339bn for power sector reform programme; N198.7bn for Service Wide Votes The breakdown indicated that N2.122trn would be share of oil revenue; N1.373trn for non-oil; N807.8bn from Companies Income Tax (CIT); N807.570bn from independent revenue; N277.562bn from the Customs; N241.920bn from Value Added Tax (VAT) and N114.298bn from Federal Government's share of signature bonus, among others. FG may review VAT rate The document projects a 10 percent increase in CIT and 42 percent in VAT. "Government may, however, review the VAT rate within the medium-term period," the document said. Unlike in the 2017 budget where the sum of N97.6bn recovery fund from Swiss Banks was also used in financing the budget, there is zero of such amount for next year's budget. The documents showed N8.979trn budget proposal for 2019 and N9.081trn for 2020. Further examination of the document revealed that the medium term fiscal strategy of government is focused on the recovery of the economy and promotion of sustained inclusive growth. Thus, the document said government's fiscal strategy would be directed at accelerating growth, intensifying economic diversification and promoting inclusiveness; achieving macro-economic stability; enhancing oil revenues and accelerating non-oil revenues; addressing recurrent and capital spending imbalance, etcetera. Another area that the proposal focuses on is agriculture and food security, with the government targeting self-sufficiency in rice by 2018 and wheat in 2019. The government, however, noted that "conflicts between farmers and herdsmen in parts of Nigeria pose a major threat to agricultural production and food security." The Gross Domestic Product (GDP) is expected to grow at 3.5% in 2018, while inflation is expected to moderate to 12.42%, the document showed further. Nigeria's Debt Stock The fiscal document indicated that Nigeria's public debt stock remains within acceptable thresholds despite the recourse to debt financing to cover the significant decline in government revenues due to lower international oil prices. It said the country's debt stock at the end of the first quarter of the 2017 fiscal year was N19.16trn ($62.9bn), representing about 18 percent of nominal GDP. The federal government's domestic debt stock accounts for 63 percent of the total debt stock; the states' domestic debt is 15%, while the external debt of both the federal and state governments represents 22%. "Thus, domestic debt represents 80% of the debt stock of the federation." The document listed some likely risks and enumerated their mitigation strategies. For example, government will maintain N20bn in the ecological funds account for immediate emergency response in the event of natural disaster. "With renewed government commitment to dialogue, engagements and implementing lasting solutions to the Niger Delta agitations, it is expected that production cuts due to militancy will significantly reduce, except in the event of technical breakdown." Roll over of 2017 capital projects About a fortnight ago, the Minister of Budget and National Planning, Senator Udo Udoma said the Federal Government would roll 60 percent of capital projects for this year to 2018 fiscal calendar. "In other to restore our January to December calendar, we have decided to roll over 50 to 60 percent of the capital projects. The MDAs have been told this. The revenues are better than last year but not sufficient to fund the budget. We need to borrow and we have been borrowing. We cannot spend N2.1trillion in five months," he had said. Based on the above submission, two days later, Senate President BukolaSaraki said the plan would make the 2018 budget to rise to N10tr. "If you are talking about 50 per cent (capital project), it means that you are talking about N10tr budget next year. I hope the executive will take note of this," he said.  culled from Olu famous Mr Olumide's Blog |
| "Peter Obi Demanded N7.5bn For Sponsoring My Election" – Gov. Obiano Insists Posted: 19 Oct 2017 02:16 PM PDT  Anambra State governor, Willie Obiano has re-echoed his allegation that his predecessor, Mr Peter Obi demanded the sum of N7.5billion from him for sponsoring his election in 2013. Obiano and Obi have had a frosty relationship shortly after his swearing in. But Obi has denied that he demanded for the sum of N7.5bn from Obiano, saying that his problem with him was his (Obiano's) underperformance. Obi said if he needed the said sum, he would have simply taken it from the N75b he left for the Obiano administration at the end of his tenure. But Gov Obiano while speaking on Wednesday evening at Ezechima Primary School, Onitsha where he inaugurated his re-election campaigns in Onitsha North Council Area, said the clarification became necessary because of the recent accusations against him by the former Governor. He insisted that Obi had demanded the sum of N7.5b from him as funds spent in prosecuting the election on his behalf, but that he refused to pay the money because it was not true. Obiano said he refused to pay because he strongly believed that public funds should be used for public good, and not to settle "godfathers". These, he claimed, was the reason they fell apart.  culled from Olu famous Mr Olumide's Blog |
| See 87yrs Old Senator Dancing With His Young Bride Ijeoma at their church wedding Posted: 19 Oct 2017 01:46 PM PDT |
| Hummer Jeep being used to carry Bamboo sticks in the East? Posted: 19 Oct 2017 01:46 PM PDT  Some years ago, Hummer Jeeps were so much valued in Nigeria that "someone can be imprisoned for scratching the luxury car". The ride seems to have moved out of fashion as some owners are looking for how to sell them while other use theirs for "less important" services such as this.   culled from Olu famous Mr Olumide's Blog |
| Solange's hair for ES magazine is everything ... | Mr Olumide's Blog Posted: 19 Oct 2017 01:44 PM PDT |
| Tonto Dikeh and Dabota Lawson twerk | Mr Olumide's Blog Posted: 19 Oct 2017 01:44 PM PDT |
| (Photos) Pretty twin sisters wed same day in Abia | Mr Olumide's Blog Posted: 19 Oct 2017 01:44 PM PDT |
| Tiwa Savage puffs away during music video shoot | Mr Olumide's Blog Posted: 19 Oct 2017 01:44 PM PDT |
| TRAGIC! School Children Killed On Abuja Highway As Truck Rams Into Bus Posted: 19 Oct 2017 01:16 PM PDT  This is quite sad. Two school children lost their lives instantly after being involved in a fatal accident on an expressway in Abuja on Tuesday. According to reports, the vehicle conveying the children with other passengers - was hit by a truck, resulting in the death of the children. Someone who witnessed the accident, Nwajide Tochukwu shared the pics and wrote: Happened today (Tuesday) along dey dey express road Abuja. The little innocent ones that lost their lives I pray that God takes back there soul to his heavenly kingdom and the badly injured ones I also pray for quick recovery. Friends out there they need ur prayers.  May the good Lord console their families.  culled from Olu famous Mr Olumide's Blog |
| Patience GEJ blocks EFCC from seizing her two properties Posted: 19 Oct 2017 01:16 PM PDT  Wife of former President Goodluck Jonathan, Patience Jonathan, on Thursday temporarily blocked the Federal High Court in Abuja from hearing an ex parte application filed by the EFCC, seeking an order of interim forfeiture of two properties traced to her in Abuja. Usually, such ex parte applications are heard without the knowledge or participation of the other parties whose properties are at stake. But somehow, Patience's legal team led by Ifedayo Adedipe (SAN) got wind of the fact that EFCC's ex parte motion was to be heard by Justice Nnamdi Dimgba today. The legal team quickly filed a motion challenging the court's jurisdiction to hear the ex parte motion and also attended court on Thursday to block the hearing. Justice Dimgba was set to hear the EFCC's motion on Thursday but had to adjourn until November 11 after Adedipe and Mike Ozekhome (SAN), appearing for Mrs. Jonathan, argued that the ex parte could not be heard as their client had filed papers challenging the court's jurisdiction to entertain it. According to Punch, EFCC was represented by Best Ojukwu and also later by Tahir Sylvanus. After the back-and-forth arguments between the EFCC's and Mrs. Jonathan's legal team, the court fixed November 11 for the hearing of the applications.  culled from Olu famous Mr Olumide's Blog |
| Tonto Dikeh reveals the one thing which is 'here to stay' | Mr Olumide's Blog Posted: 19 Oct 2017 01:15 PM PDT |
| Two school children killed as truck rams into school bus on Abuja highway | Mr Olumide's Blog Posted: 19 Oct 2017 01:15 PM PDT |
| Boko Haram insurgents kill 7 soldiers in Maiduguri | Mr Olumide's Blog Posted: 19 Oct 2017 01:15 PM PDT  Legal adviser of the civilian JTF in Borno State, Barrister Jibrin Gunda, told Nigerian Tribune that although the soldiers were taken unawares, the vehicle and ammunition carted away on Wednesday have been recaptured and returned to base. Maiduguri Damboa road is one of the roads that the Army declared safe last year, yet no vehicle can drive through without military escort. Several people, especially women have be  culled from MPNB Mr Olumide's Blog |
| Dasuki used N1.4bn for national prayer—EFCC | Mr Olumide's Blog Posted: 19 Oct 2017 01:15 PM PDT  Adariku, an officer of EFCC, made this known when he testified in the trial of Sambo Dasuki, a former National Security Adviser to former President Goodluck Jonathan. Dasuki is standing trial on a 19-count charge bordering on alleged diversion of N13.6 billion since 2015. On trial along with Dasuki were Shuaibu Salisu, a former Director of Finance, Office of the National Security Adviser, and Aminu Baba-Kusa, a former NNPC Executive Director, and two others. Adariku, the first prosecution witness said that the diversion was made through a company owned by a former Director, Nigeria National Petroleum Corporation (NNPC), Aminu Baba-Kusa. The company, Acacia Holdings LTD., was credited with the sum from the accounts of ONSA purportedly for a national prayer to be organised for Nigeria. The witness, led in evidence by EFCC's counsel, Rotimi Jacobs (SAN), narrated how N650 million was transferred from ONSA's Zenith Bank account to Acacia Holdings account with Ecobank for the purpose of the said prayer. He, however, said that from the response of Ecobank, N650 million was transferred to various individuals and companies contrary to the purpose it was disbursed for. Adariku further revealed that on April 20, 2015, N150 million was transferred to the account of Baba-Kusa, and that on April 22, another N70 million was transferred to one Jubril Abdullahi for purposes not stated. He said that on April 22, an account to account transfer of N50 million was forwarded to the account of Baba-Kusa between May 4 and May 6, 2015. The witness said that another transfer of N150 million was made to a company, Medical Plastics Ltd. found to be owned by Baba-Kusa and his wife, Hauwa, who own 1.8 million shares in the company. The witness further revealed how N200 million was transferred from ONSA's account with Zenith bank to Acacia Holdings Ltd. account with the United Bank for Africa on Oct. 9, 2014. He added that another N600 million was transferred from ONSA's account to Acacia on April 17, 2015. While in the process of giving vivid account of how the sums were transferred to various individuals and companies, counsel to Acacia Holdings, Dr Biodun Layonu (SAN) raised an objection. Layonu objected to the witness' testimony on the ground that the documents relating to the transactions were not clear in the copies that the prosecution served them. He said that most of the figures being quoted by the witness had been blanked out in the document in his possession. The judge, Justice Husseini Baba-Yusuf, acknowledged the observation by the defence counsel for Acacia and directed that the prosecution should make clearer copies available to the defendants before the next adjourned date. He then adjourned the trial until Dec. 13 and Dec. 14 for continuation of trial. NAN  culled from MPNB Mr Olumide's Blog |
| Man Jailed For Pouring Hot Oil On A Young Girl In Abuja Posted: 19 Oct 2017 12:46 PM PDT  The judge, Abubakar Sadiq, who convicted Alhassan, advised him to "learn to control his temper." Sadiq, who advised the convict to desist from committing crimes, said the sentence would serve as a deterrent to other would be offenders. Alhassan, who resides at Karmo, was convicted on a two-count of criminal intimidation and causing hurt. The convict, who pleaded guilty to the charge, begged the court to temper justice with mercy, saying that he did not know what came over him. Prosecutor, Florence Avhioboh, had told the court that the victim's mother, Mrs Safiya Mohammed, reported the matter at the Karmo Police Station on Oct. 16. Avhioboh said the complainant said she sent her daughter to dispose waste at the refuse dump when the convict started intimidating her. The convict, who was said to have threatened to kill her and her entire family, made good his threat and poured hot groundnut oil on the girl. During police investigation the convict confessed to the crime. Now he's cooling off in prison.  culled from Olu famous Mr Olumide's Blog |
| Nollywood good girl Chioma Chukwuka looks cute in new pic Posted: 19 Oct 2017 12:46 PM PDT  Actress Chioma Chukwuka Akpotha is always on the positive side. Read what she shared: Think about it, what have you ever achieved with a negative mindset? You are a product of your thoughts. What you think is what you become! You CANNOT have a positive life and a negative mindset. The two do not agree. Make that conscious effort today to rid yourself of all negativity . A negative mindset drains your energy. Stay positive. Surround yourself with positive people. Guard your thoughts with positive thinking. Be good to yourself for you only have you.#FreeYourMind #PositiveVibes #YouOweItToYourselfToBeHappy #ILoveYouAll  culled from Olu famous Mr Olumide's Blog |
| PHOTOS: Flood Submerges 21 Communities In Delta State Posted: 19 Oct 2017 12:46 PM PDT  The seasonal flood has wrecked untold havoc on communities at the banks of Ramos, Forcados Rivers and other areas. The residents have built makeshift houses in their canoes to sleep while their houses have been submerged by the flood, in some places to window level... The communities submerged include Eseimogbene, Ekametagbene, Oyangbene, Akparemogbene, Egolegbene, Ayakoromo, Bubougbene, Newtown, Yayorogbene, Gbekebor, Obotebe, Ekorogbene and Okrika. Others are, Ebeingbene, Ogboingbene, Ogodobiri, Okoloba, Akugbene, Enekorogha, Edegbene, Opurutiegbene, Kalafuogbene, Ebeberegbene, Ekogbene.  The Cleric stated that, "The situation is becoming so precarious in the affected communities except an urgent attention is given to them by the relevant authorities. We can't tell what will be the fate of these people in the incoming days if no succour is given to them."  culled from Olu famous Mr Olumide's Blog |
| My ex paid his way to making me look like a liar - Tonto Dikeh | Mr Olumide's Blog Posted: 19 Oct 2017 12:39 PM PDT  Commenting on a post on LIB, Tonto revealed that her ex paid people money to make her look like a liar when she spoke up about the abuse. Read the posts below:     culled from MPNB Mr Olumide's Blog |
| I was kidnapped twice by ritualists - Oluwo of Iwo kingdom | Mr Olumide's Blog Posted: 19 Oct 2017 12:39 PM PDT  Speaking on his relationship with the Ooni of Ife, Oba Adeyeye Ogunwusi, he said: 'Oh, yes! But I like to talk more about my life. I want people to learn from my own life, my own experience. In 1981, something happened and I had to leave Iwo. I left home and I was lost for 4 months. I was captured 2 times by Ritualists and both of them rejected me' '.The 2nd one said let him go ooo. He is an Oba ooo. He is a king. Lets leave it at that.' 'All I will say is that, I am from Iwo. I grew up in Iwo. The last time I left Iwo was 1981. I only came back in 1984.' I came around and helped my dad and I left again. I came for secondary school in Iwo. I was in Class 2 promoting to Form 3 at that time. That incident happened and I left when I got lost after 4 months I was found. The man who owns that building, out there, where Wema Bank is located was the one that found me at a petrol station in Lawanson. When I came back, my mother said you are not going back to Iwo again. That was how I ended up with my uncle. It is not only in Akobo, Bashorun area of Ibadan that me and Oonis family lived together. We started from the area called Holy Trinity, Seventh Day Adventist area. At that time, we were living side by side, by Senator Soji Akanbi's family house at Holy Trinity. He was just a big boy then, who just came back from England. He didn't want to talk to anybody. He would put his hands in his pocket and put his head up high in the air. He is the son of Alhaji M. Akanbi. He knows me good. So, we have been close by then, but the family didn't know each other at that time. But when I moved to my uncle's place in Akobo, they were living just the street across. That was when we started knowing each other. We and Tunji played soccer together. Do you know Tunji Ogunwusi? The Primewater view, Real Estate company owner?. He was at St. Patrick's Grammar School. Me, I was at Oba Akinyele Memorial High School. It's almost a fence dividing us, just a few houses away. We used to go to school together and we came back home together. We used to go to parties, all those kiddies parties, all those disco parties. It was great. Tunji was a very good soccer player. He played good soccer. I don't know if he still plays soccer now. He, myself and others we always made up a team to play in Akobo at that time. There was a primary school in Akobo at that time, and we always made a team. We used to go to school together. It's just on that road, straight road from Akobo. It was great growing up during that time. I was living with my Uncle called (Uncle Onifade) Alhaji Raimi Onifade, he is a younger brother to my mum. That's where I lived. That is where we got to know. We thank God that we are all great people today. At least we've made an impact in Yorubaland. One thing I want people to know is that the new dispensation of what kingship is all about is here and we thank God for it. And my own message to kings is for us to be servants. It's not about money. It's not about gathering money. There are many rich kings that have gone and they are no more. We don't remember them. I am talking about many great kings with money. Money doesn't make great kings. Money doesn't make you great. Its only for a while.  culled from MPNB Mr Olumide's Blog |
| Two school children killed on their way back from school | Mr Olumide's Blog Posted: 19 Oct 2017 12:39 PM PDT |
| Gospel Singer Benita Okojie & Husband In Maternity Shoot Posted: 19 Oct 2017 12:16 PM PDT |
| Actor Yul Edochie Wants To Be Anambra Governor, Takes His Campaign To Market Posted: 19 Oct 2017 12:16 PM PDT  Well, Yule Edochie is doing his best. He shared pics from his trip to the market and wrote: "I listened attentively to my people. They told me all the challenges they face in business.   culled from Olu famous Mr Olumide's Blog |
| Soldiers Destroy Militant Camps In Edo, Arrest 7 Suspects Posted: 19 Oct 2017 12:16 PM PDT  The brigade spokesman, Capt Mohammed Maidawa, who disclosed this in a statement on Wednesday, noted that a militant camp was also destroyed during the operation. "During preliminary investigation, three of the suspects confessed to being ex-militants of the militant camp," the statement added. The army further stated that another militant camp was destroyed at Ubaogolo creek, off Benin River, during which several items such as ammunition, charms and military uniforms were recovered.  culled from Olu famous Mr Olumide's Blog |
| Bobrisky finally reveals why he didn't go through with his butt surgery | Mr Olumide's Blog Posted: 19 Oct 2017 12:09 PM PDT |
| Buhari Meets Super Eagles Stars Playing In Turkish League Posted: 19 Oct 2017 11:46 AM PDT   culled from Olu famous Mr Olumide's Blog |
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