The report noted that United Kingdom\u2019s Liam Fox, Kenya\u2019s Amina Chawahir Mohamed Jibril and Saudi Arabia\u2019s Mohammad Maziad Al-Tuwaijri unfortunately could not make it in the second round of consultations.<\/p>\n\n\n\n
The third and final phase of the consultation process will begin later this month and run until November 6, after which the WTO will endeavour to name a consensus winner of the race.<\/p>\n","post_title":"Okonjo-Iweala, Myung-hee advance to WTO job final","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"okonjo-iweala-myung-hee-advance-to-wto-job-final","to_ping":"","pinged":"","post_modified":"2020-10-08 11:10:16","post_modified_gmt":"2020-10-08 11:10:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=430","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
WTO General Council Chairman David Walker plans to formally announce the results to the institution\u2019s delegates today in Geneva.<\/p>\n\n\n\n
The report noted that United Kingdom\u2019s Liam Fox, Kenya\u2019s Amina Chawahir Mohamed Jibril and Saudi Arabia\u2019s Mohammad Maziad Al-Tuwaijri unfortunately could not make it in the second round of consultations.<\/p>\n\n\n\n
The third and final phase of the consultation process will begin later this month and run until November 6, after which the WTO will endeavour to name a consensus winner of the race.<\/p>\n","post_title":"Okonjo-Iweala, Myung-hee advance to WTO job final","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"okonjo-iweala-myung-hee-advance-to-wto-job-final","to_ping":"","pinged":"","post_modified":"2020-10-08 11:10:16","post_modified_gmt":"2020-10-08 11:10:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=430","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
Yoo is South Korea\u2019s trade minister. During her 25-year career in government, she has helped expand her country\u2019s trade network through bilateral accords with the U.S., China and the U.K.<\/p>\n\n\n\n
WTO General Council Chairman David Walker plans to formally announce the results to the institution\u2019s delegates today in Geneva.<\/p>\n\n\n\n
The report noted that United Kingdom\u2019s Liam Fox, Kenya\u2019s Amina Chawahir Mohamed Jibril and Saudi Arabia\u2019s Mohammad Maziad Al-Tuwaijri unfortunately could not make it in the second round of consultations.<\/p>\n\n\n\n
The third and final phase of the consultation process will begin later this month and run until November 6, after which the WTO will endeavour to name a consensus winner of the race.<\/p>\n","post_title":"Okonjo-Iweala, Myung-hee advance to WTO job final","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"okonjo-iweala-myung-hee-advance-to-wto-job-final","to_ping":"","pinged":"","post_modified":"2020-10-08 11:10:16","post_modified_gmt":"2020-10-08 11:10:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=430","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
Yoo is South Korea\u2019s trade minister. During her 25-year career in government, she has helped expand her country\u2019s trade network through bilateral accords with the U.S., China and the U.K.<\/p>\n\n\n\n
WTO General Council Chairman David Walker plans to formally announce the results to the institution\u2019s delegates today in Geneva.<\/p>\n\n\n\n
The report noted that United Kingdom\u2019s Liam Fox, Kenya\u2019s Amina Chawahir Mohamed Jibril and Saudi Arabia\u2019s Mohammad Maziad Al-Tuwaijri unfortunately could not make it in the second round of consultations.<\/p>\n\n\n\n
The third and final phase of the consultation process will begin later this month and run until November 6, after which the WTO will endeavour to name a consensus winner of the race.<\/p>\n","post_title":"Okonjo-Iweala, Myung-hee advance to WTO job final","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"okonjo-iweala-myung-hee-advance-to-wto-job-final","to_ping":"","pinged":"","post_modified":"2020-10-08 11:10:16","post_modified_gmt":"2020-10-08 11:10:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=430","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
Okonjo-Iweala served two stints as Nigeria\u2019s finance minister and one term as foreign affairs minister. She has experience working at international governance bodies as a former managing director of the World Bank and as a chairman at the Global Alliance for Vaccines and Immunization.<\/p>\n\n\n\nYoo Myung-hee<\/strong><\/figcaption><\/figure>\n\n\n\n
Yoo is South Korea\u2019s trade minister. During her 25-year career in government, she has helped expand her country\u2019s trade network through bilateral accords with the U.S., China and the U.K.<\/p>\n\n\n\n
WTO General Council Chairman David Walker plans to formally announce the results to the institution\u2019s delegates today in Geneva.<\/p>\n\n\n\n
The report noted that United Kingdom\u2019s Liam Fox, Kenya\u2019s Amina Chawahir Mohamed Jibril and Saudi Arabia\u2019s Mohammad Maziad Al-Tuwaijri unfortunately could not make it in the second round of consultations.<\/p>\n\n\n\n
The third and final phase of the consultation process will begin later this month and run until November 6, after which the WTO will endeavour to name a consensus winner of the race.<\/p>\n","post_title":"Okonjo-Iweala, Myung-hee advance to WTO job final","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"okonjo-iweala-myung-hee-advance-to-wto-job-final","to_ping":"","pinged":"","post_modified":"2020-10-08 11:10:16","post_modified_gmt":"2020-10-08 11:10:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=430","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
Okonjo-Iweala served two stints as Nigeria\u2019s finance minister and one term as foreign affairs minister. She has experience working at international governance bodies as a former managing director of the World Bank and as a chairman at the Global Alliance for Vaccines and Immunization.<\/p>\n\n\n\nYoo Myung-hee<\/strong><\/figcaption><\/figure>\n\n\n\n
Yoo is South Korea\u2019s trade minister. During her 25-year career in government, she has helped expand her country\u2019s trade network through bilateral accords with the U.S., China and the U.K.<\/p>\n\n\n\n
WTO General Council Chairman David Walker plans to formally announce the results to the institution\u2019s delegates today in Geneva.<\/p>\n\n\n\n
The report noted that United Kingdom\u2019s Liam Fox, Kenya\u2019s Amina Chawahir Mohamed Jibril and Saudi Arabia\u2019s Mohammad Maziad Al-Tuwaijri unfortunately could not make it in the second round of consultations.<\/p>\n\n\n\n
The third and final phase of the consultation process will begin later this month and run until November 6, after which the WTO will endeavour to name a consensus winner of the race.<\/p>\n","post_title":"Okonjo-Iweala, Myung-hee advance to WTO job final","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"okonjo-iweala-myung-hee-advance-to-wto-job-final","to_ping":"","pinged":"","post_modified":"2020-10-08 11:10:16","post_modified_gmt":"2020-10-08 11:10:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=430","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
Nigeria\u2019s Ngozi Okonjo-Iweala and South Korea\u2019s Yoo Myung-hee have advanced to the final round of the contest for the World Trade Organisation (WTO) coveted position. The contest will likely produced first female Director Genwral in the history of the 25 years of the organisation. Both female contestants were cleared for the final round from the five that made it to this round.<\/p>\n\n\n\nNgozi Okonjo-Iweala<\/strong><\/figcaption><\/figure>\n\n\n\n
Okonjo-Iweala served two stints as Nigeria\u2019s finance minister and one term as foreign affairs minister. She has experience working at international governance bodies as a former managing director of the World Bank and as a chairman at the Global Alliance for Vaccines and Immunization.<\/p>\n\n\n\nYoo Myung-hee<\/strong><\/figcaption><\/figure>\n\n\n\n
Yoo is South Korea\u2019s trade minister. During her 25-year career in government, she has helped expand her country\u2019s trade network through bilateral accords with the U.S., China and the U.K.<\/p>\n\n\n\n
WTO General Council Chairman David Walker plans to formally announce the results to the institution\u2019s delegates today in Geneva.<\/p>\n\n\n\n
The report noted that United Kingdom\u2019s Liam Fox, Kenya\u2019s Amina Chawahir Mohamed Jibril and Saudi Arabia\u2019s Mohammad Maziad Al-Tuwaijri unfortunately could not make it in the second round of consultations.<\/p>\n\n\n\n
The third and final phase of the consultation process will begin later this month and run until November 6, after which the WTO will endeavour to name a consensus winner of the race.<\/p>\n","post_title":"Okonjo-Iweala, Myung-hee advance to WTO job final","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"okonjo-iweala-myung-hee-advance-to-wto-job-final","to_ping":"","pinged":"","post_modified":"2020-10-08 11:10:16","post_modified_gmt":"2020-10-08 11:10:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=430","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
Nigeria\u2019s Ngozi Okonjo-Iweala and South Korea\u2019s Yoo Myung-hee have advanced to the final round of the contest for the World Trade Organisation (WTO) coveted position. The contest will likely produced first female Director Genwral in the history of the 25 years of the organisation. Both female contestants were cleared for the final round from the five that made it to this round.<\/p>\n\n\n\nNgozi Okonjo-Iweala<\/strong><\/figcaption><\/figure>\n\n\n\n
Okonjo-Iweala served two stints as Nigeria\u2019s finance minister and one term as foreign affairs minister. She has experience working at international governance bodies as a former managing director of the World Bank and as a chairman at the Global Alliance for Vaccines and Immunization.<\/p>\n\n\n\nYoo Myung-hee<\/strong><\/figcaption><\/figure>\n\n\n\n
Yoo is South Korea\u2019s trade minister. During her 25-year career in government, she has helped expand her country\u2019s trade network through bilateral accords with the U.S., China and the U.K.<\/p>\n\n\n\n
WTO General Council Chairman David Walker plans to formally announce the results to the institution\u2019s delegates today in Geneva.<\/p>\n\n\n\n
The report noted that United Kingdom\u2019s Liam Fox, Kenya\u2019s Amina Chawahir Mohamed Jibril and Saudi Arabia\u2019s Mohammad Maziad Al-Tuwaijri unfortunately could not make it in the second round of consultations.<\/p>\n\n\n\n
The third and final phase of the consultation process will begin later this month and run until November 6, after which the WTO will endeavour to name a consensus winner of the race.<\/p>\n","post_title":"Okonjo-Iweala, Myung-hee advance to WTO job final","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"okonjo-iweala-myung-hee-advance-to-wto-job-final","to_ping":"","pinged":"","post_modified":"2020-10-08 11:10:16","post_modified_gmt":"2020-10-08 11:10:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=430","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
President Muhammadu Buhari on Thursday presented the 2021 budget proposal to the joint sitting of the National Assembly. President Buhari who was invited to the floor of the NASS to present the budget proposal by the Senate President, Ahmed Lawan said no new staff refeuitment will be carried out in 2021. He said only workers captured on the IPPIS will receive salaries in 2021. This he said was aimed at containing payment to non existing workers and thereby block some of the leakage in government revenue. Besides, he said those that contravene the no employment will be sanctioned. He also assured Nigerians that his administration will ensure the completion of ongoing project. This he said will be priority rather than new ones. He also said he was going to provide NASS list of critical projects that government must work to complete so as to deliver dividends of democracy to the people. He said the 2021 budget proposal contain only implementable projects. Buhari also said the government will address the issue of revenue leakages and ensure that funds are redirected to areas of importance . He said the ongoing verification exercise for IPPIS will continue. This, he said will address the issue of ghost workers. He stressed that completion of many ongoing project is the main thrust in 2021 and vowed to prioritise these projects. He also assured Nigerians that the administration understand the difficulties Nigerians are going through as a result of reforms in the petroleum Industry He however said the new petrol pricing regime, was aimed to make funds available for projects that will impact on lives. The much awaited Petroleum bill, the president said when passed into law has the capacity to attract investment and increase Government revenue. Other efforts to be out in place in the coming years include N420 billion in the 2021 budget to sustain the SIP. Besides, he said the CBN has reduced the interest rate in it's funding programmes from nine percent (9%) to five percent (5%) with one year maritorium, all in the efforts at addressing hardship in the country. He commending the harmonious relationship between Executive and Legialature. Meanwhile, the President of the Senate, Ahmed Lawan has said that the country's over 200 revenue generating agencies have so much inefficiencies in their system. Lawan in his address at the joint sitting of the National Assembly for the presentation of the 2021 budget proposal by President Buhari said the the budget would be ready before the end of the year. He assured the executive arm that the National Assembly was ready to commence work on the budget. The law maker who commended the government for the level of budget implementation in 2020 despite the Covid-19 pandemic also said that there was need not only create job, but also to sustain jobs. He therefore urgurged wd the executive to do a quick appraisal of all the country's revenue generating agencies. He said, \"We need to critically examine revenue generating agencies. So much inefficiency in revenue generating agencies.\" He assures Buhari that the NASS will be thorough in the scrutiny of the 2021 budget proposal. The Speaker of House of Representatives, Femi Gbajabiamila assured Nigerians that efforts would be put to.ensure the budget is passed in record time. He added, \"We will exhibit the same commitment this year because we cannot return to the old.\" He further assured Nigerians that the House will \"pass a budget that will meet our realities.\" He also urged all MDAs who come to defend budget will do so without their security details present to avoid proliferation of arms in committee hearing rooms and adhere to Covid-19 protocols.<\/p>\n","post_title":"Buhari presents 2021 budget proposal to NASS, places embargo on employment","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"buhari-presents-2021-budget-proposal-to-nass-places-embargo-on-employment","to_ping":"","pinged":"","post_modified":"2020-10-08 12:09:51","post_modified_gmt":"2020-10-08 12:09:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=435","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":430,"post_author":"11","post_date":"2020-10-08 11:10:16","post_date_gmt":"2020-10-08 11:10:16","post_content":"\n
By Gift Habib<\/p>\n\n\n\n
Nigeria\u2019s Ngozi Okonjo-Iweala and South Korea\u2019s Yoo Myung-hee have advanced to the final round of the contest for the World Trade Organisation (WTO) coveted position. The contest will likely produced first female Director Genwral in the history of the 25 years of the organisation. Both female contestants were cleared for the final round from the five that made it to this round.<\/p>\n\n\n\nNgozi Okonjo-Iweala<\/strong><\/figcaption><\/figure>\n\n\n\n
Okonjo-Iweala served two stints as Nigeria\u2019s finance minister and one term as foreign affairs minister. She has experience working at international governance bodies as a former managing director of the World Bank and as a chairman at the Global Alliance for Vaccines and Immunization.<\/p>\n\n\n\nYoo Myung-hee<\/strong><\/figcaption><\/figure>\n\n\n\n
Yoo is South Korea\u2019s trade minister. During her 25-year career in government, she has helped expand her country\u2019s trade network through bilateral accords with the U.S., China and the U.K.<\/p>\n\n\n\n
WTO General Council Chairman David Walker plans to formally announce the results to the institution\u2019s delegates today in Geneva.<\/p>\n\n\n\n
The report noted that United Kingdom\u2019s Liam Fox, Kenya\u2019s Amina Chawahir Mohamed Jibril and Saudi Arabia\u2019s Mohammad Maziad Al-Tuwaijri unfortunately could not make it in the second round of consultations.<\/p>\n\n\n\n
The third and final phase of the consultation process will begin later this month and run until November 6, after which the WTO will endeavour to name a consensus winner of the race.<\/p>\n","post_title":"Okonjo-Iweala, Myung-hee advance to WTO job final","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"okonjo-iweala-myung-hee-advance-to-wto-job-final","to_ping":"","pinged":"","post_modified":"2020-10-08 11:10:16","post_modified_gmt":"2020-10-08 11:10:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=430","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
President Muhammadu Buhari on Thursday presented the 2021 budget proposal to the joint sitting of the National Assembly. President Buhari who was invited to the floor of the NASS to present the budget proposal by the Senate President, Ahmed Lawan said no new staff refeuitment will be carried out in 2021. He said only workers captured on the IPPIS will receive salaries in 2021. This he said was aimed at containing payment to non existing workers and thereby block some of the leakage in government revenue. Besides, he said those that contravene the no employment will be sanctioned. He also assured Nigerians that his administration will ensure the completion of ongoing project. This he said will be priority rather than new ones. He also said he was going to provide NASS list of critical projects that government must work to complete so as to deliver dividends of democracy to the people. He said the 2021 budget proposal contain only implementable projects. Buhari also said the government will address the issue of revenue leakages and ensure that funds are redirected to areas of importance . He said the ongoing verification exercise for IPPIS will continue. This, he said will address the issue of ghost workers. He stressed that completion of many ongoing project is the main thrust in 2021 and vowed to prioritise these projects. He also assured Nigerians that the administration understand the difficulties Nigerians are going through as a result of reforms in the petroleum Industry He however said the new petrol pricing regime, was aimed to make funds available for projects that will impact on lives. The much awaited Petroleum bill, the president said when passed into law has the capacity to attract investment and increase Government revenue. Other efforts to be out in place in the coming years include N420 billion in the 2021 budget to sustain the SIP. Besides, he said the CBN has reduced the interest rate in it's funding programmes from nine percent (9%) to five percent (5%) with one year maritorium, all in the efforts at addressing hardship in the country. He commending the harmonious relationship between Executive and Legialature. Meanwhile, the President of the Senate, Ahmed Lawan has said that the country's over 200 revenue generating agencies have so much inefficiencies in their system. Lawan in his address at the joint sitting of the National Assembly for the presentation of the 2021 budget proposal by President Buhari said the the budget would be ready before the end of the year. He assured the executive arm that the National Assembly was ready to commence work on the budget. The law maker who commended the government for the level of budget implementation in 2020 despite the Covid-19 pandemic also said that there was need not only create job, but also to sustain jobs. He therefore urgurged wd the executive to do a quick appraisal of all the country's revenue generating agencies. He said, \"We need to critically examine revenue generating agencies. So much inefficiency in revenue generating agencies.\" He assures Buhari that the NASS will be thorough in the scrutiny of the 2021 budget proposal. The Speaker of House of Representatives, Femi Gbajabiamila assured Nigerians that efforts would be put to.ensure the budget is passed in record time. He added, \"We will exhibit the same commitment this year because we cannot return to the old.\" He further assured Nigerians that the House will \"pass a budget that will meet our realities.\" He also urged all MDAs who come to defend budget will do so without their security details present to avoid proliferation of arms in committee hearing rooms and adhere to Covid-19 protocols.<\/p>\n","post_title":"Buhari presents 2021 budget proposal to NASS, places embargo on employment","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"buhari-presents-2021-budget-proposal-to-nass-places-embargo-on-employment","to_ping":"","pinged":"","post_modified":"2020-10-08 12:09:51","post_modified_gmt":"2020-10-08 12:09:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=435","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":430,"post_author":"11","post_date":"2020-10-08 11:10:16","post_date_gmt":"2020-10-08 11:10:16","post_content":"\n
By Gift Habib<\/p>\n\n\n\n
Nigeria\u2019s Ngozi Okonjo-Iweala and South Korea\u2019s Yoo Myung-hee have advanced to the final round of the contest for the World Trade Organisation (WTO) coveted position. The contest will likely produced first female Director Genwral in the history of the 25 years of the organisation. Both female contestants were cleared for the final round from the five that made it to this round.<\/p>\n\n\n\nNgozi Okonjo-Iweala<\/strong><\/figcaption><\/figure>\n\n\n\n
Okonjo-Iweala served two stints as Nigeria\u2019s finance minister and one term as foreign affairs minister. She has experience working at international governance bodies as a former managing director of the World Bank and as a chairman at the Global Alliance for Vaccines and Immunization.<\/p>\n\n\n\nYoo Myung-hee<\/strong><\/figcaption><\/figure>\n\n\n\n
Yoo is South Korea\u2019s trade minister. During her 25-year career in government, she has helped expand her country\u2019s trade network through bilateral accords with the U.S., China and the U.K.<\/p>\n\n\n\n
WTO General Council Chairman David Walker plans to formally announce the results to the institution\u2019s delegates today in Geneva.<\/p>\n\n\n\n
The report noted that United Kingdom\u2019s Liam Fox, Kenya\u2019s Amina Chawahir Mohamed Jibril and Saudi Arabia\u2019s Mohammad Maziad Al-Tuwaijri unfortunately could not make it in the second round of consultations.<\/p>\n\n\n\n
The third and final phase of the consultation process will begin later this month and run until November 6, after which the WTO will endeavour to name a consensus winner of the race.<\/p>\n","post_title":"Okonjo-Iweala, Myung-hee advance to WTO job final","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"okonjo-iweala-myung-hee-advance-to-wto-job-final","to_ping":"","pinged":"","post_modified":"2020-10-08 11:10:16","post_modified_gmt":"2020-10-08 11:10:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=430","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
Mr. Senate President, Mr. Speaker, Distinguished and Honourable Members of the 9th National Assembly; let me use this opportunity to, again, commend your firm commitment towards ensuring a very harmonious and productive relationship with the Executive. It is important to further deepen this relationship in the interest of our people.<\/li>
As you review the 2021 Budget estimates, we believe the legislative process will be expedited to ensure its prompt passage to sustain the restoration of a predictable January \u2013 December fiscal year. In this regard, I have directed all Ministers and Heads of Agencies to be personally available for budget defence.<\/li>
Let me re-emphasize that Nigerians expect that the 2021 Budget will contain only implementable and critical projects, which when completed, will significantly address current structural challenges of the economy, improve the business environment and accelerate economic recovery.<\/li>
May I conclude my remarks by commending the National Assembly for its support in steering our economy during these very challenging times. We remain committed to sustaining this partnership. We believe that as we work together, we will jointly deliver on our joint mandate to our people.<\/li>
It is with great pleasure, therefore, that I lay, before this Distinguished Joint Session of the National Assembly, the 2021 Budget Proposals of the Federal Government of Nigeria, for your consideration.<\/li>
I thank you for your attention.<\/li>
May God continue to bless the Federal Republic of Nigeria.<\/li><\/ol>\n","post_title":"Full Speech of President Muhammadu Buhari 2021 Budget Presentation at the National Assembly","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"full-speech-of-president-muhammadu-buhari-2021-budget-presentation-at-the-national-assembly","to_ping":"","pinged":"","post_modified":"2020-10-08 13:21:06","post_modified_gmt":"2020-10-08 13:21:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=437","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
Mr. Senate President, Mr. Speaker, Distinguished and Honourable Members of the 9th National Assembly; let me use this opportunity to, again, commend your firm commitment towards ensuring a very harmonious and productive relationship with the Executive. It is important to further deepen this relationship in the interest of our people.<\/li>
As you review the 2021 Budget estimates, we believe the legislative process will be expedited to ensure its prompt passage to sustain the restoration of a predictable January \u2013 December fiscal year. In this regard, I have directed all Ministers and Heads of Agencies to be personally available for budget defence.<\/li>
Let me re-emphasize that Nigerians expect that the 2021 Budget will contain only implementable and critical projects, which when completed, will significantly address current structural challenges of the economy, improve the business environment and accelerate economic recovery.<\/li>
May I conclude my remarks by commending the National Assembly for its support in steering our economy during these very challenging times. We remain committed to sustaining this partnership. We believe that as we work together, we will jointly deliver on our joint mandate to our people.<\/li>
It is with great pleasure, therefore, that I lay, before this Distinguished Joint Session of the National Assembly, the 2021 Budget Proposals of the Federal Government of Nigeria, for your consideration.<\/li>
I thank you for your attention.<\/li>
May God continue to bless the Federal Republic of Nigeria.<\/li><\/ol>\n","post_title":"Full Speech of President Muhammadu Buhari 2021 Budget Presentation at the National Assembly","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"full-speech-of-president-muhammadu-buhari-2021-budget-presentation-at-the-national-assembly","to_ping":"","pinged":"","post_modified":"2020-10-08 13:21:06","post_modified_gmt":"2020-10-08 13:21:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=437","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
We urge Nigerian businesses and individuals to make the most of these concessional credit facilities and other such opportunities.<\/li><\/ol>\n\n\n\n
Conclusion<\/p>\n\n\n\n
Mr. Senate President, Mr. Speaker, Distinguished and Honourable Members of the 9th National Assembly; let me use this opportunity to, again, commend your firm commitment towards ensuring a very harmonious and productive relationship with the Executive. It is important to further deepen this relationship in the interest of our people.<\/li>
As you review the 2021 Budget estimates, we believe the legislative process will be expedited to ensure its prompt passage to sustain the restoration of a predictable January \u2013 December fiscal year. In this regard, I have directed all Ministers and Heads of Agencies to be personally available for budget defence.<\/li>
Let me re-emphasize that Nigerians expect that the 2021 Budget will contain only implementable and critical projects, which when completed, will significantly address current structural challenges of the economy, improve the business environment and accelerate economic recovery.<\/li>
May I conclude my remarks by commending the National Assembly for its support in steering our economy during these very challenging times. We remain committed to sustaining this partnership. We believe that as we work together, we will jointly deliver on our joint mandate to our people.<\/li>
It is with great pleasure, therefore, that I lay, before this Distinguished Joint Session of the National Assembly, the 2021 Budget Proposals of the Federal Government of Nigeria, for your consideration.<\/li>
I thank you for your attention.<\/li>
May God continue to bless the Federal Republic of Nigeria.<\/li><\/ol>\n","post_title":"Full Speech of President Muhammadu Buhari 2021 Budget Presentation at the National Assembly","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"full-speech-of-president-muhammadu-buhari-2021-budget-presentation-at-the-national-assembly","to_ping":"","pinged":"","post_modified":"2020-10-08 13:21:06","post_modified_gmt":"2020-10-08 13:21:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=437","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
b. N1 trillion to large agricultural and manufacturing businesses.<\/p>\n\n\n\n
We urge Nigerian businesses and individuals to make the most of these concessional credit facilities and other such opportunities.<\/li><\/ol>\n\n\n\n
Conclusion<\/p>\n\n\n\n
Mr. Senate President, Mr. Speaker, Distinguished and Honourable Members of the 9th National Assembly; let me use this opportunity to, again, commend your firm commitment towards ensuring a very harmonious and productive relationship with the Executive. It is important to further deepen this relationship in the interest of our people.<\/li>
As you review the 2021 Budget estimates, we believe the legislative process will be expedited to ensure its prompt passage to sustain the restoration of a predictable January \u2013 December fiscal year. In this regard, I have directed all Ministers and Heads of Agencies to be personally available for budget defence.<\/li>
Let me re-emphasize that Nigerians expect that the 2021 Budget will contain only implementable and critical projects, which when completed, will significantly address current structural challenges of the economy, improve the business environment and accelerate economic recovery.<\/li>
May I conclude my remarks by commending the National Assembly for its support in steering our economy during these very challenging times. We remain committed to sustaining this partnership. We believe that as we work together, we will jointly deliver on our joint mandate to our people.<\/li>
It is with great pleasure, therefore, that I lay, before this Distinguished Joint Session of the National Assembly, the 2021 Budget Proposals of the Federal Government of Nigeria, for your consideration.<\/li>
I thank you for your attention.<\/li>
May God continue to bless the Federal Republic of Nigeria.<\/li><\/ol>\n","post_title":"Full Speech of President Muhammadu Buhari 2021 Budget Presentation at the National Assembly","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"full-speech-of-president-muhammadu-buhari-2021-budget-presentation-at-the-national-assembly","to_ping":"","pinged":"","post_modified":"2020-10-08 13:21:06","post_modified_gmt":"2020-10-08 13:21:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=437","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
a. N100 billion to the healthcare and pharmaceutical industry; and<\/p>\n\n\n\n
b. N1 trillion to large agricultural and manufacturing businesses.<\/p>\n\n\n\n
We urge Nigerian businesses and individuals to make the most of these concessional credit facilities and other such opportunities.<\/li><\/ol>\n\n\n\n
Conclusion<\/p>\n\n\n\n
Mr. Senate President, Mr. Speaker, Distinguished and Honourable Members of the 9th National Assembly; let me use this opportunity to, again, commend your firm commitment towards ensuring a very harmonious and productive relationship with the Executive. It is important to further deepen this relationship in the interest of our people.<\/li>
As you review the 2021 Budget estimates, we believe the legislative process will be expedited to ensure its prompt passage to sustain the restoration of a predictable January \u2013 December fiscal year. In this regard, I have directed all Ministers and Heads of Agencies to be personally available for budget defence.<\/li>
Let me re-emphasize that Nigerians expect that the 2021 Budget will contain only implementable and critical projects, which when completed, will significantly address current structural challenges of the economy, improve the business environment and accelerate economic recovery.<\/li>
May I conclude my remarks by commending the National Assembly for its support in steering our economy during these very challenging times. We remain committed to sustaining this partnership. We believe that as we work together, we will jointly deliver on our joint mandate to our people.<\/li>
It is with great pleasure, therefore, that I lay, before this Distinguished Joint Session of the National Assembly, the 2021 Budget Proposals of the Federal Government of Nigeria, for your consideration.<\/li>
I thank you for your attention.<\/li>
May God continue to bless the Federal Republic of Nigeria.<\/li><\/ol>\n","post_title":"Full Speech of President Muhammadu Buhari 2021 Budget Presentation at the National Assembly","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"full-speech-of-president-muhammadu-buhari-2021-budget-presentation-at-the-national-assembly","to_ping":"","pinged":"","post_modified":"2020-10-08 13:21:06","post_modified_gmt":"2020-10-08 13:21:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=437","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
The new petrol pricing regime has freed up resources that was allocated to subsidise petroleum products. Similarly, the ongoing IPPIS verification exercise has closed gaps that encourage ghost workers or pensioners. The service reflective electricity tariffs will help resolve liquidity crisis in the power sector and make the sector attractive to foreign investment. These reforms have released trillions of Naira for allocation to other priority areas.<\/li>
Distinguished Senators, Honourable Members, permit me to reiterate that the main thrust of our capital spending programme in 2021 is the completion of as many ongoing projects as possible across the country. Accordingly, we have prioritized projects that can be rapidly completed to benefit our people.<\/li>
Distinguished Senators and Honourable Members, I note, with satisfaction, your determination to promptly consider and pass the Petroleum Industry Bill into law. The enactment of this Bill will boost confidence and attract further investments into our oil and gas sector, as well as increase revenues.<\/li>
I fully understand the difficulties many of our people are going through with the implementation of our reform agenda. However, the measures we are implementing are necessary for sustainable public finance, better allocation of our scarce resources and improved public service delivery. As we implement these reforms, social safety nets will be implemented to cushion the effect of the most vulnerable of our citizens as well as business owners.<\/li>
In furtherance of our inclusiveness agenda, the sum of N420 billion has been provided to sustain the Social Investment Programme. N20 billion has also been set aside for the Family Homes Fund, our Social Housing Programme. We have expanded our National Social Register, to include an additional one million Nigerians following the onset of Coronavirus. We recently introduced the N75 billion Survival Fund Programme to support and protect businesses from potential vulnerabilities. Furthermore, the Central Bank of Nigeria is reducing the interest rate on its intervention facilities from 9% to 5% with a 1-year moratorium till 31st March 2021, to provide concessional lending of: . N100 billion to households and small businesses;<\/li><\/ol>\n\n\n\n
a. N100 billion to the healthcare and pharmaceutical industry; and<\/p>\n\n\n\n
b. N1 trillion to large agricultural and manufacturing businesses.<\/p>\n\n\n\n
We urge Nigerian businesses and individuals to make the most of these concessional credit facilities and other such opportunities.<\/li><\/ol>\n\n\n\n
Conclusion<\/p>\n\n\n\n
Mr. Senate President, Mr. Speaker, Distinguished and Honourable Members of the 9th National Assembly; let me use this opportunity to, again, commend your firm commitment towards ensuring a very harmonious and productive relationship with the Executive. It is important to further deepen this relationship in the interest of our people.<\/li>
As you review the 2021 Budget estimates, we believe the legislative process will be expedited to ensure its prompt passage to sustain the restoration of a predictable January \u2013 December fiscal year. In this regard, I have directed all Ministers and Heads of Agencies to be personally available for budget defence.<\/li>
Let me re-emphasize that Nigerians expect that the 2021 Budget will contain only implementable and critical projects, which when completed, will significantly address current structural challenges of the economy, improve the business environment and accelerate economic recovery.<\/li>
May I conclude my remarks by commending the National Assembly for its support in steering our economy during these very challenging times. We remain committed to sustaining this partnership. We believe that as we work together, we will jointly deliver on our joint mandate to our people.<\/li>
It is with great pleasure, therefore, that I lay, before this Distinguished Joint Session of the National Assembly, the 2021 Budget Proposals of the Federal Government of Nigeria, for your consideration.<\/li>
I thank you for your attention.<\/li>
May God continue to bless the Federal Republic of Nigeria.<\/li><\/ol>\n","post_title":"Full Speech of President Muhammadu Buhari 2021 Budget Presentation at the National Assembly","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"full-speech-of-president-muhammadu-buhari-2021-budget-presentation-at-the-national-assembly","to_ping":"","pinged":"","post_modified":"2020-10-08 13:21:06","post_modified_gmt":"2020-10-08 13:21:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=437","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
c. Implementation of service-based electricity tariffs.<\/p>\n\n\n\n
The new petrol pricing regime has freed up resources that was allocated to subsidise petroleum products. Similarly, the ongoing IPPIS verification exercise has closed gaps that encourage ghost workers or pensioners. The service reflective electricity tariffs will help resolve liquidity crisis in the power sector and make the sector attractive to foreign investment. These reforms have released trillions of Naira for allocation to other priority areas.<\/li>
Distinguished Senators, Honourable Members, permit me to reiterate that the main thrust of our capital spending programme in 2021 is the completion of as many ongoing projects as possible across the country. Accordingly, we have prioritized projects that can be rapidly completed to benefit our people.<\/li>
Distinguished Senators and Honourable Members, I note, with satisfaction, your determination to promptly consider and pass the Petroleum Industry Bill into law. The enactment of this Bill will boost confidence and attract further investments into our oil and gas sector, as well as increase revenues.<\/li>
I fully understand the difficulties many of our people are going through with the implementation of our reform agenda. However, the measures we are implementing are necessary for sustainable public finance, better allocation of our scarce resources and improved public service delivery. As we implement these reforms, social safety nets will be implemented to cushion the effect of the most vulnerable of our citizens as well as business owners.<\/li>
In furtherance of our inclusiveness agenda, the sum of N420 billion has been provided to sustain the Social Investment Programme. N20 billion has also been set aside for the Family Homes Fund, our Social Housing Programme. We have expanded our National Social Register, to include an additional one million Nigerians following the onset of Coronavirus. We recently introduced the N75 billion Survival Fund Programme to support and protect businesses from potential vulnerabilities. Furthermore, the Central Bank of Nigeria is reducing the interest rate on its intervention facilities from 9% to 5% with a 1-year moratorium till 31st March 2021, to provide concessional lending of: . N100 billion to households and small businesses;<\/li><\/ol>\n\n\n\n
a. N100 billion to the healthcare and pharmaceutical industry; and<\/p>\n\n\n\n
b. N1 trillion to large agricultural and manufacturing businesses.<\/p>\n\n\n\n
We urge Nigerian businesses and individuals to make the most of these concessional credit facilities and other such opportunities.<\/li><\/ol>\n\n\n\n
Conclusion<\/p>\n\n\n\n
Mr. Senate President, Mr. Speaker, Distinguished and Honourable Members of the 9th National Assembly; let me use this opportunity to, again, commend your firm commitment towards ensuring a very harmonious and productive relationship with the Executive. It is important to further deepen this relationship in the interest of our people.<\/li>
As you review the 2021 Budget estimates, we believe the legislative process will be expedited to ensure its prompt passage to sustain the restoration of a predictable January \u2013 December fiscal year. In this regard, I have directed all Ministers and Heads of Agencies to be personally available for budget defence.<\/li>
Let me re-emphasize that Nigerians expect that the 2021 Budget will contain only implementable and critical projects, which when completed, will significantly address current structural challenges of the economy, improve the business environment and accelerate economic recovery.<\/li>
May I conclude my remarks by commending the National Assembly for its support in steering our economy during these very challenging times. We remain committed to sustaining this partnership. We believe that as we work together, we will jointly deliver on our joint mandate to our people.<\/li>
It is with great pleasure, therefore, that I lay, before this Distinguished Joint Session of the National Assembly, the 2021 Budget Proposals of the Federal Government of Nigeria, for your consideration.<\/li>
I thank you for your attention.<\/li>
May God continue to bless the Federal Republic of Nigeria.<\/li><\/ol>\n","post_title":"Full Speech of President Muhammadu Buhari 2021 Budget Presentation at the National Assembly","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"full-speech-of-president-muhammadu-buhari-2021-budget-presentation-at-the-national-assembly","to_ping":"","pinged":"","post_modified":"2020-10-08 13:21:06","post_modified_gmt":"2020-10-08 13:21:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=437","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
b. Ongoing verification exercise with IPPIS; and<\/p>\n\n\n\n
c. Implementation of service-based electricity tariffs.<\/p>\n\n\n\n
The new petrol pricing regime has freed up resources that was allocated to subsidise petroleum products. Similarly, the ongoing IPPIS verification exercise has closed gaps that encourage ghost workers or pensioners. The service reflective electricity tariffs will help resolve liquidity crisis in the power sector and make the sector attractive to foreign investment. These reforms have released trillions of Naira for allocation to other priority areas.<\/li>
Distinguished Senators, Honourable Members, permit me to reiterate that the main thrust of our capital spending programme in 2021 is the completion of as many ongoing projects as possible across the country. Accordingly, we have prioritized projects that can be rapidly completed to benefit our people.<\/li>
Distinguished Senators and Honourable Members, I note, with satisfaction, your determination to promptly consider and pass the Petroleum Industry Bill into law. The enactment of this Bill will boost confidence and attract further investments into our oil and gas sector, as well as increase revenues.<\/li>
I fully understand the difficulties many of our people are going through with the implementation of our reform agenda. However, the measures we are implementing are necessary for sustainable public finance, better allocation of our scarce resources and improved public service delivery. As we implement these reforms, social safety nets will be implemented to cushion the effect of the most vulnerable of our citizens as well as business owners.<\/li>
In furtherance of our inclusiveness agenda, the sum of N420 billion has been provided to sustain the Social Investment Programme. N20 billion has also been set aside for the Family Homes Fund, our Social Housing Programme. We have expanded our National Social Register, to include an additional one million Nigerians following the onset of Coronavirus. We recently introduced the N75 billion Survival Fund Programme to support and protect businesses from potential vulnerabilities. Furthermore, the Central Bank of Nigeria is reducing the interest rate on its intervention facilities from 9% to 5% with a 1-year moratorium till 31st March 2021, to provide concessional lending of: . N100 billion to households and small businesses;<\/li><\/ol>\n\n\n\n
a. N100 billion to the healthcare and pharmaceutical industry; and<\/p>\n\n\n\n
b. N1 trillion to large agricultural and manufacturing businesses.<\/p>\n\n\n\n
We urge Nigerian businesses and individuals to make the most of these concessional credit facilities and other such opportunities.<\/li><\/ol>\n\n\n\n
Conclusion<\/p>\n\n\n\n
Mr. Senate President, Mr. Speaker, Distinguished and Honourable Members of the 9th National Assembly; let me use this opportunity to, again, commend your firm commitment towards ensuring a very harmonious and productive relationship with the Executive. It is important to further deepen this relationship in the interest of our people.<\/li>
As you review the 2021 Budget estimates, we believe the legislative process will be expedited to ensure its prompt passage to sustain the restoration of a predictable January \u2013 December fiscal year. In this regard, I have directed all Ministers and Heads of Agencies to be personally available for budget defence.<\/li>
Let me re-emphasize that Nigerians expect that the 2021 Budget will contain only implementable and critical projects, which when completed, will significantly address current structural challenges of the economy, improve the business environment and accelerate economic recovery.<\/li>
May I conclude my remarks by commending the National Assembly for its support in steering our economy during these very challenging times. We remain committed to sustaining this partnership. We believe that as we work together, we will jointly deliver on our joint mandate to our people.<\/li>
It is with great pleasure, therefore, that I lay, before this Distinguished Joint Session of the National Assembly, the 2021 Budget Proposals of the Federal Government of Nigeria, for your consideration.<\/li>
I thank you for your attention.<\/li>
May God continue to bless the Federal Republic of Nigeria.<\/li><\/ol>\n","post_title":"Full Speech of President Muhammadu Buhari 2021 Budget Presentation at the National Assembly","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"full-speech-of-president-muhammadu-buhari-2021-budget-presentation-at-the-national-assembly","to_ping":"","pinged":"","post_modified":"2020-10-08 13:21:06","post_modified_gmt":"2020-10-08 13:21:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=437","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
a. Deregulation of the price of petroleum products;<\/p>\n\n\n\n
b. Ongoing verification exercise with IPPIS; and<\/p>\n\n\n\n
c. Implementation of service-based electricity tariffs.<\/p>\n\n\n\n
The new petrol pricing regime has freed up resources that was allocated to subsidise petroleum products. Similarly, the ongoing IPPIS verification exercise has closed gaps that encourage ghost workers or pensioners. The service reflective electricity tariffs will help resolve liquidity crisis in the power sector and make the sector attractive to foreign investment. These reforms have released trillions of Naira for allocation to other priority areas.<\/li>
Distinguished Senators, Honourable Members, permit me to reiterate that the main thrust of our capital spending programme in 2021 is the completion of as many ongoing projects as possible across the country. Accordingly, we have prioritized projects that can be rapidly completed to benefit our people.<\/li>
Distinguished Senators and Honourable Members, I note, with satisfaction, your determination to promptly consider and pass the Petroleum Industry Bill into law. The enactment of this Bill will boost confidence and attract further investments into our oil and gas sector, as well as increase revenues.<\/li>
I fully understand the difficulties many of our people are going through with the implementation of our reform agenda. However, the measures we are implementing are necessary for sustainable public finance, better allocation of our scarce resources and improved public service delivery. As we implement these reforms, social safety nets will be implemented to cushion the effect of the most vulnerable of our citizens as well as business owners.<\/li>
In furtherance of our inclusiveness agenda, the sum of N420 billion has been provided to sustain the Social Investment Programme. N20 billion has also been set aside for the Family Homes Fund, our Social Housing Programme. We have expanded our National Social Register, to include an additional one million Nigerians following the onset of Coronavirus. We recently introduced the N75 billion Survival Fund Programme to support and protect businesses from potential vulnerabilities. Furthermore, the Central Bank of Nigeria is reducing the interest rate on its intervention facilities from 9% to 5% with a 1-year moratorium till 31st March 2021, to provide concessional lending of: . N100 billion to households and small businesses;<\/li><\/ol>\n\n\n\n
a. N100 billion to the healthcare and pharmaceutical industry; and<\/p>\n\n\n\n
b. N1 trillion to large agricultural and manufacturing businesses.<\/p>\n\n\n\n
We urge Nigerian businesses and individuals to make the most of these concessional credit facilities and other such opportunities.<\/li><\/ol>\n\n\n\n
Conclusion<\/p>\n\n\n\n
Mr. Senate President, Mr. Speaker, Distinguished and Honourable Members of the 9th National Assembly; let me use this opportunity to, again, commend your firm commitment towards ensuring a very harmonious and productive relationship with the Executive. It is important to further deepen this relationship in the interest of our people.<\/li>
As you review the 2021 Budget estimates, we believe the legislative process will be expedited to ensure its prompt passage to sustain the restoration of a predictable January \u2013 December fiscal year. In this regard, I have directed all Ministers and Heads of Agencies to be personally available for budget defence.<\/li>
Let me re-emphasize that Nigerians expect that the 2021 Budget will contain only implementable and critical projects, which when completed, will significantly address current structural challenges of the economy, improve the business environment and accelerate economic recovery.<\/li>
May I conclude my remarks by commending the National Assembly for its support in steering our economy during these very challenging times. We remain committed to sustaining this partnership. We believe that as we work together, we will jointly deliver on our joint mandate to our people.<\/li>
It is with great pleasure, therefore, that I lay, before this Distinguished Joint Session of the National Assembly, the 2021 Budget Proposals of the Federal Government of Nigeria, for your consideration.<\/li>
I thank you for your attention.<\/li>
May God continue to bless the Federal Republic of Nigeria.<\/li><\/ol>\n","post_title":"Full Speech of President Muhammadu Buhari 2021 Budget Presentation at the National Assembly","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"full-speech-of-president-muhammadu-buhari-2021-budget-presentation-at-the-national-assembly","to_ping":"","pinged":"","post_modified":"2020-10-08 13:21:06","post_modified_gmt":"2020-10-08 13:21:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=437","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
The government is already implementing several measures to overcome our fiscal constraints. In addition to the Strategic Revenue Growth Initiatives, we are leveraging technology and automation, as well as more effective monitoring of Independently Generated Revenues. Our efforts are aimed at addressing revenue leakages and redirecting scarce resources to the poor and vulnerable. These efforts include:<\/li><\/ol>\n\n\n\n
a. Deregulation of the price of petroleum products;<\/p>\n\n\n\n
b. Ongoing verification exercise with IPPIS; and<\/p>\n\n\n\n
c. Implementation of service-based electricity tariffs.<\/p>\n\n\n\n
The new petrol pricing regime has freed up resources that was allocated to subsidise petroleum products. Similarly, the ongoing IPPIS verification exercise has closed gaps that encourage ghost workers or pensioners. The service reflective electricity tariffs will help resolve liquidity crisis in the power sector and make the sector attractive to foreign investment. These reforms have released trillions of Naira for allocation to other priority areas.<\/li>
Distinguished Senators, Honourable Members, permit me to reiterate that the main thrust of our capital spending programme in 2021 is the completion of as many ongoing projects as possible across the country. Accordingly, we have prioritized projects that can be rapidly completed to benefit our people.<\/li>
Distinguished Senators and Honourable Members, I note, with satisfaction, your determination to promptly consider and pass the Petroleum Industry Bill into law. The enactment of this Bill will boost confidence and attract further investments into our oil and gas sector, as well as increase revenues.<\/li>
I fully understand the difficulties many of our people are going through with the implementation of our reform agenda. However, the measures we are implementing are necessary for sustainable public finance, better allocation of our scarce resources and improved public service delivery. As we implement these reforms, social safety nets will be implemented to cushion the effect of the most vulnerable of our citizens as well as business owners.<\/li>
In furtherance of our inclusiveness agenda, the sum of N420 billion has been provided to sustain the Social Investment Programme. N20 billion has also been set aside for the Family Homes Fund, our Social Housing Programme. We have expanded our National Social Register, to include an additional one million Nigerians following the onset of Coronavirus. We recently introduced the N75 billion Survival Fund Programme to support and protect businesses from potential vulnerabilities. Furthermore, the Central Bank of Nigeria is reducing the interest rate on its intervention facilities from 9% to 5% with a 1-year moratorium till 31st March 2021, to provide concessional lending of: . N100 billion to households and small businesses;<\/li><\/ol>\n\n\n\n
a. N100 billion to the healthcare and pharmaceutical industry; and<\/p>\n\n\n\n
b. N1 trillion to large agricultural and manufacturing businesses.<\/p>\n\n\n\n
We urge Nigerian businesses and individuals to make the most of these concessional credit facilities and other such opportunities.<\/li><\/ol>\n\n\n\n
Conclusion<\/p>\n\n\n\n
Mr. Senate President, Mr. Speaker, Distinguished and Honourable Members of the 9th National Assembly; let me use this opportunity to, again, commend your firm commitment towards ensuring a very harmonious and productive relationship with the Executive. It is important to further deepen this relationship in the interest of our people.<\/li>
As you review the 2021 Budget estimates, we believe the legislative process will be expedited to ensure its prompt passage to sustain the restoration of a predictable January \u2013 December fiscal year. In this regard, I have directed all Ministers and Heads of Agencies to be personally available for budget defence.<\/li>
Let me re-emphasize that Nigerians expect that the 2021 Budget will contain only implementable and critical projects, which when completed, will significantly address current structural challenges of the economy, improve the business environment and accelerate economic recovery.<\/li>
May I conclude my remarks by commending the National Assembly for its support in steering our economy during these very challenging times. We remain committed to sustaining this partnership. We believe that as we work together, we will jointly deliver on our joint mandate to our people.<\/li>
It is with great pleasure, therefore, that I lay, before this Distinguished Joint Session of the National Assembly, the 2021 Budget Proposals of the Federal Government of Nigeria, for your consideration.<\/li>
I thank you for your attention.<\/li>
May God continue to bless the Federal Republic of Nigeria.<\/li><\/ol>\n","post_title":"Full Speech of President Muhammadu Buhari 2021 Budget Presentation at the National Assembly","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"full-speech-of-president-muhammadu-buhari-2021-budget-presentation-at-the-national-assembly","to_ping":"","pinged":"","post_modified":"2020-10-08 13:21:06","post_modified_gmt":"2020-10-08 13:21:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=437","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
The government is already implementing several measures to overcome our fiscal constraints. In addition to the Strategic Revenue Growth Initiatives, we are leveraging technology and automation, as well as more effective monitoring of Independently Generated Revenues. Our efforts are aimed at addressing revenue leakages and redirecting scarce resources to the poor and vulnerable. These efforts include:<\/li><\/ol>\n\n\n\n
a. Deregulation of the price of petroleum products;<\/p>\n\n\n\n
b. Ongoing verification exercise with IPPIS; and<\/p>\n\n\n\n
c. Implementation of service-based electricity tariffs.<\/p>\n\n\n\n
The new petrol pricing regime has freed up resources that was allocated to subsidise petroleum products. Similarly, the ongoing IPPIS verification exercise has closed gaps that encourage ghost workers or pensioners. The service reflective electricity tariffs will help resolve liquidity crisis in the power sector and make the sector attractive to foreign investment. These reforms have released trillions of Naira for allocation to other priority areas.<\/li>
Distinguished Senators, Honourable Members, permit me to reiterate that the main thrust of our capital spending programme in 2021 is the completion of as many ongoing projects as possible across the country. Accordingly, we have prioritized projects that can be rapidly completed to benefit our people.<\/li>
Distinguished Senators and Honourable Members, I note, with satisfaction, your determination to promptly consider and pass the Petroleum Industry Bill into law. The enactment of this Bill will boost confidence and attract further investments into our oil and gas sector, as well as increase revenues.<\/li>
I fully understand the difficulties many of our people are going through with the implementation of our reform agenda. However, the measures we are implementing are necessary for sustainable public finance, better allocation of our scarce resources and improved public service delivery. As we implement these reforms, social safety nets will be implemented to cushion the effect of the most vulnerable of our citizens as well as business owners.<\/li>
In furtherance of our inclusiveness agenda, the sum of N420 billion has been provided to sustain the Social Investment Programme. N20 billion has also been set aside for the Family Homes Fund, our Social Housing Programme. We have expanded our National Social Register, to include an additional one million Nigerians following the onset of Coronavirus. We recently introduced the N75 billion Survival Fund Programme to support and protect businesses from potential vulnerabilities. Furthermore, the Central Bank of Nigeria is reducing the interest rate on its intervention facilities from 9% to 5% with a 1-year moratorium till 31st March 2021, to provide concessional lending of: . N100 billion to households and small businesses;<\/li><\/ol>\n\n\n\n
a. N100 billion to the healthcare and pharmaceutical industry; and<\/p>\n\n\n\n
b. N1 trillion to large agricultural and manufacturing businesses.<\/p>\n\n\n\n
We urge Nigerian businesses and individuals to make the most of these concessional credit facilities and other such opportunities.<\/li><\/ol>\n\n\n\n
Conclusion<\/p>\n\n\n\n
Mr. Senate President, Mr. Speaker, Distinguished and Honourable Members of the 9th National Assembly; let me use this opportunity to, again, commend your firm commitment towards ensuring a very harmonious and productive relationship with the Executive. It is important to further deepen this relationship in the interest of our people.<\/li>
As you review the 2021 Budget estimates, we believe the legislative process will be expedited to ensure its prompt passage to sustain the restoration of a predictable January \u2013 December fiscal year. In this regard, I have directed all Ministers and Heads of Agencies to be personally available for budget defence.<\/li>
Let me re-emphasize that Nigerians expect that the 2021 Budget will contain only implementable and critical projects, which when completed, will significantly address current structural challenges of the economy, improve the business environment and accelerate economic recovery.<\/li>
May I conclude my remarks by commending the National Assembly for its support in steering our economy during these very challenging times. We remain committed to sustaining this partnership. We believe that as we work together, we will jointly deliver on our joint mandate to our people.<\/li>
It is with great pleasure, therefore, that I lay, before this Distinguished Joint Session of the National Assembly, the 2021 Budget Proposals of the Federal Government of Nigeria, for your consideration.<\/li>
I thank you for your attention.<\/li>
May God continue to bless the Federal Republic of Nigeria.<\/li><\/ol>\n","post_title":"Full Speech of President Muhammadu Buhari 2021 Budget Presentation at the National Assembly","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"full-speech-of-president-muhammadu-buhari-2021-budget-presentation-at-the-national-assembly","to_ping":"","pinged":"","post_modified":"2020-10-08 13:21:06","post_modified_gmt":"2020-10-08 13:21:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=437","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
The Ministry of Agriculture and Rural Development will facilitate the integrated development of its sector by promoting crops\u2019 value chains; as well as providing rural roads, water and sanitation, veterinary and pest controls, grazing, food and strategic reserves, and access to inputs and extension services.<\/li>
The 157 percent increase in the capital allocation to the health sector is to enhance the capacity to deliver healthcare services through the procurement of equipment, vaccines and other facilities. Two centres of excellence, as well as one Accident and Emergency Centre, will be equipped in Federal Teaching Hospitals in each geopolitical zone.<\/li>
In addition, numerous Primary Health Care Centres will be equipped and upgraded across the six geopolitical zones. Furthermore, funds have been allocated for the expansion of Midwives Service Scheme in the six geopolitical zones. To enhance occupational safety, funds have been provided for the provision of Personal Protective Equipment for health workers.<\/li>
The Ministry of Education\u2019s capital allocation has been increased by 65 percent to improve the education of our children. Funds have been provided for the provision of scholarship awards to Nigerian students at home and abroad.<\/li>
We have provided funds for the upgrade of security and other infrastructural facilities in our Unity Colleges nationwide. To improve access to education, we have made provision for the establishment of five new Federal Science and Technical Colleges. We have also provided for the payment of allowances to 5,000 teachers under the Federal Teachers Scheme.<\/li>
In line with our commitment to invest in Transportation Infrastructure, capital allocation to the Works and Housing sector is to facilitate the completion of several critical projects in 2021. I have directed the Minister of Finance, Budget and National Planning to provide a detailed breakdown of key infrastructural projects in her subsequent Press Briefing.<\/li>
Key projects for implementation in the Power sector include several Rural Electrification Projects in the 36 States and Abuja, Rural Electrification Access Programme in Federal Universities, the Kaduna LPFO Gas Fired power Plant, the Mambilla Hydro Power Project and the Zungeru Hydropower Project.<\/li>
Provisions have been made for legacy debts owed to local contractors compensation and resettlement of project-affected communities, the Renewable Energy Micro Utility (Solar) project, and the construction of transmission lines and substations nationwide. These project\u2019s implementation is expected to have positive impact on electricity supply nationwide, as well as boost productivity and employment.<\/li>
Projects to be implemented by the Ministry of Water Resources in 2021 include provision of potable water in the North East, construction of irrigation and dams across the country, and the provision of Water, Sanitation and Hygiene facilities.<\/li>
The Ministry of Transportation has earmarked funds for projects such as the Lagos-Ibadan-Kano Line, Abuja-Kaduna Line, Port-Harcourt-Maiduguri Line and Itakpe-Ajaokuta-Warri Line. These projects, when completed, will minimize the cost of transporting people and goods around the country.<\/li>
To maintain the peace in the Niger Delta region for economic and social activities to thrive, the provision of N65 billion for the Presidential Amnesty Programme has been retained in the 2021 Budget. In addition, the sum of N63.51 billion has been appropriated for the Niger Delta Development Commission and N24.27 billion has been provided for the capital projects of the Ministry of Niger Delta Affairs. These allocations should further support the development of the region by facilitating the completion of important ongoing projects, such as the East-West Road.<\/li><\/ol>\n\n\n\n
Government Fiscal Strategy in 2021<\/p>\n\n\n\n
The government is already implementing several measures to overcome our fiscal constraints. In addition to the Strategic Revenue Growth Initiatives, we are leveraging technology and automation, as well as more effective monitoring of Independently Generated Revenues. Our efforts are aimed at addressing revenue leakages and redirecting scarce resources to the poor and vulnerable. These efforts include:<\/li><\/ol>\n\n\n\n
a. Deregulation of the price of petroleum products;<\/p>\n\n\n\n
b. Ongoing verification exercise with IPPIS; and<\/p>\n\n\n\n
c. Implementation of service-based electricity tariffs.<\/p>\n\n\n\n
The new petrol pricing regime has freed up resources that was allocated to subsidise petroleum products. Similarly, the ongoing IPPIS verification exercise has closed gaps that encourage ghost workers or pensioners. The service reflective electricity tariffs will help resolve liquidity crisis in the power sector and make the sector attractive to foreign investment. These reforms have released trillions of Naira for allocation to other priority areas.<\/li>
Distinguished Senators, Honourable Members, permit me to reiterate that the main thrust of our capital spending programme in 2021 is the completion of as many ongoing projects as possible across the country. Accordingly, we have prioritized projects that can be rapidly completed to benefit our people.<\/li>
Distinguished Senators and Honourable Members, I note, with satisfaction, your determination to promptly consider and pass the Petroleum Industry Bill into law. The enactment of this Bill will boost confidence and attract further investments into our oil and gas sector, as well as increase revenues.<\/li>
I fully understand the difficulties many of our people are going through with the implementation of our reform agenda. However, the measures we are implementing are necessary for sustainable public finance, better allocation of our scarce resources and improved public service delivery. As we implement these reforms, social safety nets will be implemented to cushion the effect of the most vulnerable of our citizens as well as business owners.<\/li>
In furtherance of our inclusiveness agenda, the sum of N420 billion has been provided to sustain the Social Investment Programme. N20 billion has also been set aside for the Family Homes Fund, our Social Housing Programme. We have expanded our National Social Register, to include an additional one million Nigerians following the onset of Coronavirus. We recently introduced the N75 billion Survival Fund Programme to support and protect businesses from potential vulnerabilities. Furthermore, the Central Bank of Nigeria is reducing the interest rate on its intervention facilities from 9% to 5% with a 1-year moratorium till 31st March 2021, to provide concessional lending of: . N100 billion to households and small businesses;<\/li><\/ol>\n\n\n\n
a. N100 billion to the healthcare and pharmaceutical industry; and<\/p>\n\n\n\n
b. N1 trillion to large agricultural and manufacturing businesses.<\/p>\n\n\n\n
We urge Nigerian businesses and individuals to make the most of these concessional credit facilities and other such opportunities.<\/li><\/ol>\n\n\n\n
Conclusion<\/p>\n\n\n\n
Mr. Senate President, Mr. Speaker, Distinguished and Honourable Members of the 9th National Assembly; let me use this opportunity to, again, commend your firm commitment towards ensuring a very harmonious and productive relationship with the Executive. It is important to further deepen this relationship in the interest of our people.<\/li>
As you review the 2021 Budget estimates, we believe the legislative process will be expedited to ensure its prompt passage to sustain the restoration of a predictable January \u2013 December fiscal year. In this regard, I have directed all Ministers and Heads of Agencies to be personally available for budget defence.<\/li>
Let me re-emphasize that Nigerians expect that the 2021 Budget will contain only implementable and critical projects, which when completed, will significantly address current structural challenges of the economy, improve the business environment and accelerate economic recovery.<\/li>
May I conclude my remarks by commending the National Assembly for its support in steering our economy during these very challenging times. We remain committed to sustaining this partnership. We believe that as we work together, we will jointly deliver on our joint mandate to our people.<\/li>
It is with great pleasure, therefore, that I lay, before this Distinguished Joint Session of the National Assembly, the 2021 Budget Proposals of the Federal Government of Nigeria, for your consideration.<\/li>
I thank you for your attention.<\/li>
May God continue to bless the Federal Republic of Nigeria.<\/li><\/ol>\n","post_title":"Full Speech of President Muhammadu Buhari 2021 Budget Presentation at the National Assembly","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"full-speech-of-president-muhammadu-buhari-2021-budget-presentation-at-the-national-assembly","to_ping":"","pinged":"","post_modified":"2020-10-08 13:21:06","post_modified_gmt":"2020-10-08 13:21:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=437","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
l. Niger Delta Development Commission: N64 billion.<\/p>\n\n\n\n
The Ministry of Agriculture and Rural Development will facilitate the integrated development of its sector by promoting crops\u2019 value chains; as well as providing rural roads, water and sanitation, veterinary and pest controls, grazing, food and strategic reserves, and access to inputs and extension services.<\/li>
The 157 percent increase in the capital allocation to the health sector is to enhance the capacity to deliver healthcare services through the procurement of equipment, vaccines and other facilities. Two centres of excellence, as well as one Accident and Emergency Centre, will be equipped in Federal Teaching Hospitals in each geopolitical zone.<\/li>
In addition, numerous Primary Health Care Centres will be equipped and upgraded across the six geopolitical zones. Furthermore, funds have been allocated for the expansion of Midwives Service Scheme in the six geopolitical zones. To enhance occupational safety, funds have been provided for the provision of Personal Protective Equipment for health workers.<\/li>
The Ministry of Education\u2019s capital allocation has been increased by 65 percent to improve the education of our children. Funds have been provided for the provision of scholarship awards to Nigerian students at home and abroad.<\/li>
We have provided funds for the upgrade of security and other infrastructural facilities in our Unity Colleges nationwide. To improve access to education, we have made provision for the establishment of five new Federal Science and Technical Colleges. We have also provided for the payment of allowances to 5,000 teachers under the Federal Teachers Scheme.<\/li>
In line with our commitment to invest in Transportation Infrastructure, capital allocation to the Works and Housing sector is to facilitate the completion of several critical projects in 2021. I have directed the Minister of Finance, Budget and National Planning to provide a detailed breakdown of key infrastructural projects in her subsequent Press Briefing.<\/li>
Key projects for implementation in the Power sector include several Rural Electrification Projects in the 36 States and Abuja, Rural Electrification Access Programme in Federal Universities, the Kaduna LPFO Gas Fired power Plant, the Mambilla Hydro Power Project and the Zungeru Hydropower Project.<\/li>
Provisions have been made for legacy debts owed to local contractors compensation and resettlement of project-affected communities, the Renewable Energy Micro Utility (Solar) project, and the construction of transmission lines and substations nationwide. These project\u2019s implementation is expected to have positive impact on electricity supply nationwide, as well as boost productivity and employment.<\/li>
Projects to be implemented by the Ministry of Water Resources in 2021 include provision of potable water in the North East, construction of irrigation and dams across the country, and the provision of Water, Sanitation and Hygiene facilities.<\/li>
The Ministry of Transportation has earmarked funds for projects such as the Lagos-Ibadan-Kano Line, Abuja-Kaduna Line, Port-Harcourt-Maiduguri Line and Itakpe-Ajaokuta-Warri Line. These projects, when completed, will minimize the cost of transporting people and goods around the country.<\/li>
To maintain the peace in the Niger Delta region for economic and social activities to thrive, the provision of N65 billion for the Presidential Amnesty Programme has been retained in the 2021 Budget. In addition, the sum of N63.51 billion has been appropriated for the Niger Delta Development Commission and N24.27 billion has been provided for the capital projects of the Ministry of Niger Delta Affairs. These allocations should further support the development of the region by facilitating the completion of important ongoing projects, such as the East-West Road.<\/li><\/ol>\n\n\n\n
Government Fiscal Strategy in 2021<\/p>\n\n\n\n
The government is already implementing several measures to overcome our fiscal constraints. In addition to the Strategic Revenue Growth Initiatives, we are leveraging technology and automation, as well as more effective monitoring of Independently Generated Revenues. Our efforts are aimed at addressing revenue leakages and redirecting scarce resources to the poor and vulnerable. These efforts include:<\/li><\/ol>\n\n\n\n
a. Deregulation of the price of petroleum products;<\/p>\n\n\n\n
b. Ongoing verification exercise with IPPIS; and<\/p>\n\n\n\n
c. Implementation of service-based electricity tariffs.<\/p>\n\n\n\n
The new petrol pricing regime has freed up resources that was allocated to subsidise petroleum products. Similarly, the ongoing IPPIS verification exercise has closed gaps that encourage ghost workers or pensioners. The service reflective electricity tariffs will help resolve liquidity crisis in the power sector and make the sector attractive to foreign investment. These reforms have released trillions of Naira for allocation to other priority areas.<\/li>
Distinguished Senators, Honourable Members, permit me to reiterate that the main thrust of our capital spending programme in 2021 is the completion of as many ongoing projects as possible across the country. Accordingly, we have prioritized projects that can be rapidly completed to benefit our people.<\/li>
Distinguished Senators and Honourable Members, I note, with satisfaction, your determination to promptly consider and pass the Petroleum Industry Bill into law. The enactment of this Bill will boost confidence and attract further investments into our oil and gas sector, as well as increase revenues.<\/li>
I fully understand the difficulties many of our people are going through with the implementation of our reform agenda. However, the measures we are implementing are necessary for sustainable public finance, better allocation of our scarce resources and improved public service delivery. As we implement these reforms, social safety nets will be implemented to cushion the effect of the most vulnerable of our citizens as well as business owners.<\/li>
In furtherance of our inclusiveness agenda, the sum of N420 billion has been provided to sustain the Social Investment Programme. N20 billion has also been set aside for the Family Homes Fund, our Social Housing Programme. We have expanded our National Social Register, to include an additional one million Nigerians following the onset of Coronavirus. We recently introduced the N75 billion Survival Fund Programme to support and protect businesses from potential vulnerabilities. Furthermore, the Central Bank of Nigeria is reducing the interest rate on its intervention facilities from 9% to 5% with a 1-year moratorium till 31st March 2021, to provide concessional lending of: . N100 billion to households and small businesses;<\/li><\/ol>\n\n\n\n
a. N100 billion to the healthcare and pharmaceutical industry; and<\/p>\n\n\n\n
b. N1 trillion to large agricultural and manufacturing businesses.<\/p>\n\n\n\n
We urge Nigerian businesses and individuals to make the most of these concessional credit facilities and other such opportunities.<\/li><\/ol>\n\n\n\n
Conclusion<\/p>\n\n\n\n
Mr. Senate President, Mr. Speaker, Distinguished and Honourable Members of the 9th National Assembly; let me use this opportunity to, again, commend your firm commitment towards ensuring a very harmonious and productive relationship with the Executive. It is important to further deepen this relationship in the interest of our people.<\/li>
As you review the 2021 Budget estimates, we believe the legislative process will be expedited to ensure its prompt passage to sustain the restoration of a predictable January \u2013 December fiscal year. In this regard, I have directed all Ministers and Heads of Agencies to be personally available for budget defence.<\/li>
Let me re-emphasize that Nigerians expect that the 2021 Budget will contain only implementable and critical projects, which when completed, will significantly address current structural challenges of the economy, improve the business environment and accelerate economic recovery.<\/li>
May I conclude my remarks by commending the National Assembly for its support in steering our economy during these very challenging times. We remain committed to sustaining this partnership. We believe that as we work together, we will jointly deliver on our joint mandate to our people.<\/li>
It is with great pleasure, therefore, that I lay, before this Distinguished Joint Session of the National Assembly, the 2021 Budget Proposals of the Federal Government of Nigeria, for your consideration.<\/li>
I thank you for your attention.<\/li>
May God continue to bless the Federal Republic of Nigeria.<\/li><\/ol>\n","post_title":"Full Speech of President Muhammadu Buhari 2021 Budget Presentation at the National Assembly","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"full-speech-of-president-muhammadu-buhari-2021-budget-presentation-at-the-national-assembly","to_ping":"","pinged":"","post_modified":"2020-10-08 13:21:06","post_modified_gmt":"2020-10-08 13:21:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=437","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
k. Zonal Intervention Projects: N100 billion; and<\/p>\n\n\n\n
l. Niger Delta Development Commission: N64 billion.<\/p>\n\n\n\n
The Ministry of Agriculture and Rural Development will facilitate the integrated development of its sector by promoting crops\u2019 value chains; as well as providing rural roads, water and sanitation, veterinary and pest controls, grazing, food and strategic reserves, and access to inputs and extension services.<\/li>
The 157 percent increase in the capital allocation to the health sector is to enhance the capacity to deliver healthcare services through the procurement of equipment, vaccines and other facilities. Two centres of excellence, as well as one Accident and Emergency Centre, will be equipped in Federal Teaching Hospitals in each geopolitical zone.<\/li>
In addition, numerous Primary Health Care Centres will be equipped and upgraded across the six geopolitical zones. Furthermore, funds have been allocated for the expansion of Midwives Service Scheme in the six geopolitical zones. To enhance occupational safety, funds have been provided for the provision of Personal Protective Equipment for health workers.<\/li>
The Ministry of Education\u2019s capital allocation has been increased by 65 percent to improve the education of our children. Funds have been provided for the provision of scholarship awards to Nigerian students at home and abroad.<\/li>
We have provided funds for the upgrade of security and other infrastructural facilities in our Unity Colleges nationwide. To improve access to education, we have made provision for the establishment of five new Federal Science and Technical Colleges. We have also provided for the payment of allowances to 5,000 teachers under the Federal Teachers Scheme.<\/li>
In line with our commitment to invest in Transportation Infrastructure, capital allocation to the Works and Housing sector is to facilitate the completion of several critical projects in 2021. I have directed the Minister of Finance, Budget and National Planning to provide a detailed breakdown of key infrastructural projects in her subsequent Press Briefing.<\/li>
Key projects for implementation in the Power sector include several Rural Electrification Projects in the 36 States and Abuja, Rural Electrification Access Programme in Federal Universities, the Kaduna LPFO Gas Fired power Plant, the Mambilla Hydro Power Project and the Zungeru Hydropower Project.<\/li>
Provisions have been made for legacy debts owed to local contractors compensation and resettlement of project-affected communities, the Renewable Energy Micro Utility (Solar) project, and the construction of transmission lines and substations nationwide. These project\u2019s implementation is expected to have positive impact on electricity supply nationwide, as well as boost productivity and employment.<\/li>
Projects to be implemented by the Ministry of Water Resources in 2021 include provision of potable water in the North East, construction of irrigation and dams across the country, and the provision of Water, Sanitation and Hygiene facilities.<\/li>
The Ministry of Transportation has earmarked funds for projects such as the Lagos-Ibadan-Kano Line, Abuja-Kaduna Line, Port-Harcourt-Maiduguri Line and Itakpe-Ajaokuta-Warri Line. These projects, when completed, will minimize the cost of transporting people and goods around the country.<\/li>
To maintain the peace in the Niger Delta region for economic and social activities to thrive, the provision of N65 billion for the Presidential Amnesty Programme has been retained in the 2021 Budget. In addition, the sum of N63.51 billion has been appropriated for the Niger Delta Development Commission and N24.27 billion has been provided for the capital projects of the Ministry of Niger Delta Affairs. These allocations should further support the development of the region by facilitating the completion of important ongoing projects, such as the East-West Road.<\/li><\/ol>\n\n\n\n
Government Fiscal Strategy in 2021<\/p>\n\n\n\n
The government is already implementing several measures to overcome our fiscal constraints. In addition to the Strategic Revenue Growth Initiatives, we are leveraging technology and automation, as well as more effective monitoring of Independently Generated Revenues. Our efforts are aimed at addressing revenue leakages and redirecting scarce resources to the poor and vulnerable. These efforts include:<\/li><\/ol>\n\n\n\n
a. Deregulation of the price of petroleum products;<\/p>\n\n\n\n
b. Ongoing verification exercise with IPPIS; and<\/p>\n\n\n\n
c. Implementation of service-based electricity tariffs.<\/p>\n\n\n\n
The new petrol pricing regime has freed up resources that was allocated to subsidise petroleum products. Similarly, the ongoing IPPIS verification exercise has closed gaps that encourage ghost workers or pensioners. The service reflective electricity tariffs will help resolve liquidity crisis in the power sector and make the sector attractive to foreign investment. These reforms have released trillions of Naira for allocation to other priority areas.<\/li>
Distinguished Senators, Honourable Members, permit me to reiterate that the main thrust of our capital spending programme in 2021 is the completion of as many ongoing projects as possible across the country. Accordingly, we have prioritized projects that can be rapidly completed to benefit our people.<\/li>
Distinguished Senators and Honourable Members, I note, with satisfaction, your determination to promptly consider and pass the Petroleum Industry Bill into law. The enactment of this Bill will boost confidence and attract further investments into our oil and gas sector, as well as increase revenues.<\/li>
I fully understand the difficulties many of our people are going through with the implementation of our reform agenda. However, the measures we are implementing are necessary for sustainable public finance, better allocation of our scarce resources and improved public service delivery. As we implement these reforms, social safety nets will be implemented to cushion the effect of the most vulnerable of our citizens as well as business owners.<\/li>
In furtherance of our inclusiveness agenda, the sum of N420 billion has been provided to sustain the Social Investment Programme. N20 billion has also been set aside for the Family Homes Fund, our Social Housing Programme. We have expanded our National Social Register, to include an additional one million Nigerians following the onset of Coronavirus. We recently introduced the N75 billion Survival Fund Programme to support and protect businesses from potential vulnerabilities. Furthermore, the Central Bank of Nigeria is reducing the interest rate on its intervention facilities from 9% to 5% with a 1-year moratorium till 31st March 2021, to provide concessional lending of: . N100 billion to households and small businesses;<\/li><\/ol>\n\n\n\n
a. N100 billion to the healthcare and pharmaceutical industry; and<\/p>\n\n\n\n
b. N1 trillion to large agricultural and manufacturing businesses.<\/p>\n\n\n\n
We urge Nigerian businesses and individuals to make the most of these concessional credit facilities and other such opportunities.<\/li><\/ol>\n\n\n\n
Conclusion<\/p>\n\n\n\n
Mr. Senate President, Mr. Speaker, Distinguished and Honourable Members of the 9th National Assembly; let me use this opportunity to, again, commend your firm commitment towards ensuring a very harmonious and productive relationship with the Executive. It is important to further deepen this relationship in the interest of our people.<\/li>
As you review the 2021 Budget estimates, we believe the legislative process will be expedited to ensure its prompt passage to sustain the restoration of a predictable January \u2013 December fiscal year. In this regard, I have directed all Ministers and Heads of Agencies to be personally available for budget defence.<\/li>
Let me re-emphasize that Nigerians expect that the 2021 Budget will contain only implementable and critical projects, which when completed, will significantly address current structural challenges of the economy, improve the business environment and accelerate economic recovery.<\/li>
May I conclude my remarks by commending the National Assembly for its support in steering our economy during these very challenging times. We remain committed to sustaining this partnership. We believe that as we work together, we will jointly deliver on our joint mandate to our people.<\/li>
It is with great pleasure, therefore, that I lay, before this Distinguished Joint Session of the National Assembly, the 2021 Budget Proposals of the Federal Government of Nigeria, for your consideration.<\/li>
I thank you for your attention.<\/li>
May God continue to bless the Federal Republic of Nigeria.<\/li><\/ol>\n","post_title":"Full Speech of President Muhammadu Buhari 2021 Budget Presentation at the National Assembly","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"full-speech-of-president-muhammadu-buhari-2021-budget-presentation-at-the-national-assembly","to_ping":"","pinged":"","post_modified":"2020-10-08 13:21:06","post_modified_gmt":"2020-10-08 13:21:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=437","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
k. Zonal Intervention Projects: N100 billion; and<\/p>\n\n\n\n
l. Niger Delta Development Commission: N64 billion.<\/p>\n\n\n\n
The Ministry of Agriculture and Rural Development will facilitate the integrated development of its sector by promoting crops\u2019 value chains; as well as providing rural roads, water and sanitation, veterinary and pest controls, grazing, food and strategic reserves, and access to inputs and extension services.<\/li>
The 157 percent increase in the capital allocation to the health sector is to enhance the capacity to deliver healthcare services through the procurement of equipment, vaccines and other facilities. Two centres of excellence, as well as one Accident and Emergency Centre, will be equipped in Federal Teaching Hospitals in each geopolitical zone.<\/li>
In addition, numerous Primary Health Care Centres will be equipped and upgraded across the six geopolitical zones. Furthermore, funds have been allocated for the expansion of Midwives Service Scheme in the six geopolitical zones. To enhance occupational safety, funds have been provided for the provision of Personal Protective Equipment for health workers.<\/li>
The Ministry of Education\u2019s capital allocation has been increased by 65 percent to improve the education of our children. Funds have been provided for the provision of scholarship awards to Nigerian students at home and abroad.<\/li>
We have provided funds for the upgrade of security and other infrastructural facilities in our Unity Colleges nationwide. To improve access to education, we have made provision for the establishment of five new Federal Science and Technical Colleges. We have also provided for the payment of allowances to 5,000 teachers under the Federal Teachers Scheme.<\/li>
In line with our commitment to invest in Transportation Infrastructure, capital allocation to the Works and Housing sector is to facilitate the completion of several critical projects in 2021. I have directed the Minister of Finance, Budget and National Planning to provide a detailed breakdown of key infrastructural projects in her subsequent Press Briefing.<\/li>
Key projects for implementation in the Power sector include several Rural Electrification Projects in the 36 States and Abuja, Rural Electrification Access Programme in Federal Universities, the Kaduna LPFO Gas Fired power Plant, the Mambilla Hydro Power Project and the Zungeru Hydropower Project.<\/li>
Provisions have been made for legacy debts owed to local contractors compensation and resettlement of project-affected communities, the Renewable Energy Micro Utility (Solar) project, and the construction of transmission lines and substations nationwide. These project\u2019s implementation is expected to have positive impact on electricity supply nationwide, as well as boost productivity and employment.<\/li>
Projects to be implemented by the Ministry of Water Resources in 2021 include provision of potable water in the North East, construction of irrigation and dams across the country, and the provision of Water, Sanitation and Hygiene facilities.<\/li>
The Ministry of Transportation has earmarked funds for projects such as the Lagos-Ibadan-Kano Line, Abuja-Kaduna Line, Port-Harcourt-Maiduguri Line and Itakpe-Ajaokuta-Warri Line. These projects, when completed, will minimize the cost of transporting people and goods around the country.<\/li>
To maintain the peace in the Niger Delta region for economic and social activities to thrive, the provision of N65 billion for the Presidential Amnesty Programme has been retained in the 2021 Budget. In addition, the sum of N63.51 billion has been appropriated for the Niger Delta Development Commission and N24.27 billion has been provided for the capital projects of the Ministry of Niger Delta Affairs. These allocations should further support the development of the region by facilitating the completion of important ongoing projects, such as the East-West Road.<\/li><\/ol>\n\n\n\n
Government Fiscal Strategy in 2021<\/p>\n\n\n\n
The government is already implementing several measures to overcome our fiscal constraints. In addition to the Strategic Revenue Growth Initiatives, we are leveraging technology and automation, as well as more effective monitoring of Independently Generated Revenues. Our efforts are aimed at addressing revenue leakages and redirecting scarce resources to the poor and vulnerable. These efforts include:<\/li><\/ol>\n\n\n\n
a. Deregulation of the price of petroleum products;<\/p>\n\n\n\n
b. Ongoing verification exercise with IPPIS; and<\/p>\n\n\n\n
c. Implementation of service-based electricity tariffs.<\/p>\n\n\n\n
The new petrol pricing regime has freed up resources that was allocated to subsidise petroleum products. Similarly, the ongoing IPPIS verification exercise has closed gaps that encourage ghost workers or pensioners. The service reflective electricity tariffs will help resolve liquidity crisis in the power sector and make the sector attractive to foreign investment. These reforms have released trillions of Naira for allocation to other priority areas.<\/li>
Distinguished Senators, Honourable Members, permit me to reiterate that the main thrust of our capital spending programme in 2021 is the completion of as many ongoing projects as possible across the country. Accordingly, we have prioritized projects that can be rapidly completed to benefit our people.<\/li>
Distinguished Senators and Honourable Members, I note, with satisfaction, your determination to promptly consider and pass the Petroleum Industry Bill into law. The enactment of this Bill will boost confidence and attract further investments into our oil and gas sector, as well as increase revenues.<\/li>
I fully understand the difficulties many of our people are going through with the implementation of our reform agenda. However, the measures we are implementing are necessary for sustainable public finance, better allocation of our scarce resources and improved public service delivery. As we implement these reforms, social safety nets will be implemented to cushion the effect of the most vulnerable of our citizens as well as business owners.<\/li>
In furtherance of our inclusiveness agenda, the sum of N420 billion has been provided to sustain the Social Investment Programme. N20 billion has also been set aside for the Family Homes Fund, our Social Housing Programme. We have expanded our National Social Register, to include an additional one million Nigerians following the onset of Coronavirus. We recently introduced the N75 billion Survival Fund Programme to support and protect businesses from potential vulnerabilities. Furthermore, the Central Bank of Nigeria is reducing the interest rate on its intervention facilities from 9% to 5% with a 1-year moratorium till 31st March 2021, to provide concessional lending of: . N100 billion to households and small businesses;<\/li><\/ol>\n\n\n\n
a. N100 billion to the healthcare and pharmaceutical industry; and<\/p>\n\n\n\n
b. N1 trillion to large agricultural and manufacturing businesses.<\/p>\n\n\n\n
We urge Nigerian businesses and individuals to make the most of these concessional credit facilities and other such opportunities.<\/li><\/ol>\n\n\n\n
Conclusion<\/p>\n\n\n\n
Mr. Senate President, Mr. Speaker, Distinguished and Honourable Members of the 9th National Assembly; let me use this opportunity to, again, commend your firm commitment towards ensuring a very harmonious and productive relationship with the Executive. It is important to further deepen this relationship in the interest of our people.<\/li>
As you review the 2021 Budget estimates, we believe the legislative process will be expedited to ensure its prompt passage to sustain the restoration of a predictable January \u2013 December fiscal year. In this regard, I have directed all Ministers and Heads of Agencies to be personally available for budget defence.<\/li>
Let me re-emphasize that Nigerians expect that the 2021 Budget will contain only implementable and critical projects, which when completed, will significantly address current structural challenges of the economy, improve the business environment and accelerate economic recovery.<\/li>
May I conclude my remarks by commending the National Assembly for its support in steering our economy during these very challenging times. We remain committed to sustaining this partnership. We believe that as we work together, we will jointly deliver on our joint mandate to our people.<\/li>
It is with great pleasure, therefore, that I lay, before this Distinguished Joint Session of the National Assembly, the 2021 Budget Proposals of the Federal Government of Nigeria, for your consideration.<\/li>
I thank you for your attention.<\/li>
May God continue to bless the Federal Republic of Nigeria.<\/li><\/ol>\n","post_title":"Full Speech of President Muhammadu Buhari 2021 Budget Presentation at the National Assembly","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"full-speech-of-president-muhammadu-buhari-2021-budget-presentation-at-the-national-assembly","to_ping":"","pinged":"","post_modified":"2020-10-08 13:21:06","post_modified_gmt":"2020-10-08 13:21:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=437","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
i. Universal Basic Education Commission: N70 billion;<\/p>\n\n\n\n
j. Health: N132 billion;<\/p>\n\n\n\n
k. Zonal Intervention Projects: N100 billion; and<\/p>\n\n\n\n
l. Niger Delta Development Commission: N64 billion.<\/p>\n\n\n\n
The Ministry of Agriculture and Rural Development will facilitate the integrated development of its sector by promoting crops\u2019 value chains; as well as providing rural roads, water and sanitation, veterinary and pest controls, grazing, food and strategic reserves, and access to inputs and extension services.<\/li>
The 157 percent increase in the capital allocation to the health sector is to enhance the capacity to deliver healthcare services through the procurement of equipment, vaccines and other facilities. Two centres of excellence, as well as one Accident and Emergency Centre, will be equipped in Federal Teaching Hospitals in each geopolitical zone.<\/li>
In addition, numerous Primary Health Care Centres will be equipped and upgraded across the six geopolitical zones. Furthermore, funds have been allocated for the expansion of Midwives Service Scheme in the six geopolitical zones. To enhance occupational safety, funds have been provided for the provision of Personal Protective Equipment for health workers.<\/li>
The Ministry of Education\u2019s capital allocation has been increased by 65 percent to improve the education of our children. Funds have been provided for the provision of scholarship awards to Nigerian students at home and abroad.<\/li>
We have provided funds for the upgrade of security and other infrastructural facilities in our Unity Colleges nationwide. To improve access to education, we have made provision for the establishment of five new Federal Science and Technical Colleges. We have also provided for the payment of allowances to 5,000 teachers under the Federal Teachers Scheme.<\/li>
In line with our commitment to invest in Transportation Infrastructure, capital allocation to the Works and Housing sector is to facilitate the completion of several critical projects in 2021. I have directed the Minister of Finance, Budget and National Planning to provide a detailed breakdown of key infrastructural projects in her subsequent Press Briefing.<\/li>
Key projects for implementation in the Power sector include several Rural Electrification Projects in the 36 States and Abuja, Rural Electrification Access Programme in Federal Universities, the Kaduna LPFO Gas Fired power Plant, the Mambilla Hydro Power Project and the Zungeru Hydropower Project.<\/li>
Provisions have been made for legacy debts owed to local contractors compensation and resettlement of project-affected communities, the Renewable Energy Micro Utility (Solar) project, and the construction of transmission lines and substations nationwide. These project\u2019s implementation is expected to have positive impact on electricity supply nationwide, as well as boost productivity and employment.<\/li>
Projects to be implemented by the Ministry of Water Resources in 2021 include provision of potable water in the North East, construction of irrigation and dams across the country, and the provision of Water, Sanitation and Hygiene facilities.<\/li>
The Ministry of Transportation has earmarked funds for projects such as the Lagos-Ibadan-Kano Line, Abuja-Kaduna Line, Port-Harcourt-Maiduguri Line and Itakpe-Ajaokuta-Warri Line. These projects, when completed, will minimize the cost of transporting people and goods around the country.<\/li>
To maintain the peace in the Niger Delta region for economic and social activities to thrive, the provision of N65 billion for the Presidential Amnesty Programme has been retained in the 2021 Budget. In addition, the sum of N63.51 billion has been appropriated for the Niger Delta Development Commission and N24.27 billion has been provided for the capital projects of the Ministry of Niger Delta Affairs. These allocations should further support the development of the region by facilitating the completion of important ongoing projects, such as the East-West Road.<\/li><\/ol>\n\n\n\n
Government Fiscal Strategy in 2021<\/p>\n\n\n\n
The government is already implementing several measures to overcome our fiscal constraints. In addition to the Strategic Revenue Growth Initiatives, we are leveraging technology and automation, as well as more effective monitoring of Independently Generated Revenues. Our efforts are aimed at addressing revenue leakages and redirecting scarce resources to the poor and vulnerable. These efforts include:<\/li><\/ol>\n\n\n\n
a. Deregulation of the price of petroleum products;<\/p>\n\n\n\n
b. Ongoing verification exercise with IPPIS; and<\/p>\n\n\n\n
c. Implementation of service-based electricity tariffs.<\/p>\n\n\n\n
The new petrol pricing regime has freed up resources that was allocated to subsidise petroleum products. Similarly, the ongoing IPPIS verification exercise has closed gaps that encourage ghost workers or pensioners. The service reflective electricity tariffs will help resolve liquidity crisis in the power sector and make the sector attractive to foreign investment. These reforms have released trillions of Naira for allocation to other priority areas.<\/li>
Distinguished Senators, Honourable Members, permit me to reiterate that the main thrust of our capital spending programme in 2021 is the completion of as many ongoing projects as possible across the country. Accordingly, we have prioritized projects that can be rapidly completed to benefit our people.<\/li>
Distinguished Senators and Honourable Members, I note, with satisfaction, your determination to promptly consider and pass the Petroleum Industry Bill into law. The enactment of this Bill will boost confidence and attract further investments into our oil and gas sector, as well as increase revenues.<\/li>
I fully understand the difficulties many of our people are going through with the implementation of our reform agenda. However, the measures we are implementing are necessary for sustainable public finance, better allocation of our scarce resources and improved public service delivery. As we implement these reforms, social safety nets will be implemented to cushion the effect of the most vulnerable of our citizens as well as business owners.<\/li>
In furtherance of our inclusiveness agenda, the sum of N420 billion has been provided to sustain the Social Investment Programme. N20 billion has also been set aside for the Family Homes Fund, our Social Housing Programme. We have expanded our National Social Register, to include an additional one million Nigerians following the onset of Coronavirus. We recently introduced the N75 billion Survival Fund Programme to support and protect businesses from potential vulnerabilities. Furthermore, the Central Bank of Nigeria is reducing the interest rate on its intervention facilities from 9% to 5% with a 1-year moratorium till 31st March 2021, to provide concessional lending of: . N100 billion to households and small businesses;<\/li><\/ol>\n\n\n\n
a. N100 billion to the healthcare and pharmaceutical industry; and<\/p>\n\n\n\n
b. N1 trillion to large agricultural and manufacturing businesses.<\/p>\n\n\n\n
We urge Nigerian businesses and individuals to make the most of these concessional credit facilities and other such opportunities.<\/li><\/ol>\n\n\n\n
Conclusion<\/p>\n\n\n\n
Mr. Senate President, Mr. Speaker, Distinguished and Honourable Members of the 9th National Assembly; let me use this opportunity to, again, commend your firm commitment towards ensuring a very harmonious and productive relationship with the Executive. It is important to further deepen this relationship in the interest of our people.<\/li>
As you review the 2021 Budget estimates, we believe the legislative process will be expedited to ensure its prompt passage to sustain the restoration of a predictable January \u2013 December fiscal year. In this regard, I have directed all Ministers and Heads of Agencies to be personally available for budget defence.<\/li>
Let me re-emphasize that Nigerians expect that the 2021 Budget will contain only implementable and critical projects, which when completed, will significantly address current structural challenges of the economy, improve the business environment and accelerate economic recovery.<\/li>
May I conclude my remarks by commending the National Assembly for its support in steering our economy during these very challenging times. We remain committed to sustaining this partnership. We believe that as we work together, we will jointly deliver on our joint mandate to our people.<\/li>
It is with great pleasure, therefore, that I lay, before this Distinguished Joint Session of the National Assembly, the 2021 Budget Proposals of the Federal Government of Nigeria, for your consideration.<\/li>
I thank you for your attention.<\/li>
May God continue to bless the Federal Republic of Nigeria.<\/li><\/ol>\n","post_title":"Full Speech of President Muhammadu Buhari 2021 Budget Presentation at the National Assembly","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"full-speech-of-president-muhammadu-buhari-2021-budget-presentation-at-the-national-assembly","to_ping":"","pinged":"","post_modified":"2020-10-08 13:21:06","post_modified_gmt":"2020-10-08 13:21:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=437","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
i. Universal Basic Education Commission: N70 billion;<\/p>\n\n\n\n
j. Health: N132 billion;<\/p>\n\n\n\n
k. Zonal Intervention Projects: N100 billion; and<\/p>\n\n\n\n
l. Niger Delta Development Commission: N64 billion.<\/p>\n\n\n\n
The Ministry of Agriculture and Rural Development will facilitate the integrated development of its sector by promoting crops\u2019 value chains; as well as providing rural roads, water and sanitation, veterinary and pest controls, grazing, food and strategic reserves, and access to inputs and extension services.<\/li>
The 157 percent increase in the capital allocation to the health sector is to enhance the capacity to deliver healthcare services through the procurement of equipment, vaccines and other facilities. Two centres of excellence, as well as one Accident and Emergency Centre, will be equipped in Federal Teaching Hospitals in each geopolitical zone.<\/li>
In addition, numerous Primary Health Care Centres will be equipped and upgraded across the six geopolitical zones. Furthermore, funds have been allocated for the expansion of Midwives Service Scheme in the six geopolitical zones. To enhance occupational safety, funds have been provided for the provision of Personal Protective Equipment for health workers.<\/li>
The Ministry of Education\u2019s capital allocation has been increased by 65 percent to improve the education of our children. Funds have been provided for the provision of scholarship awards to Nigerian students at home and abroad.<\/li>
We have provided funds for the upgrade of security and other infrastructural facilities in our Unity Colleges nationwide. To improve access to education, we have made provision for the establishment of five new Federal Science and Technical Colleges. We have also provided for the payment of allowances to 5,000 teachers under the Federal Teachers Scheme.<\/li>
In line with our commitment to invest in Transportation Infrastructure, capital allocation to the Works and Housing sector is to facilitate the completion of several critical projects in 2021. I have directed the Minister of Finance, Budget and National Planning to provide a detailed breakdown of key infrastructural projects in her subsequent Press Briefing.<\/li>
Key projects for implementation in the Power sector include several Rural Electrification Projects in the 36 States and Abuja, Rural Electrification Access Programme in Federal Universities, the Kaduna LPFO Gas Fired power Plant, the Mambilla Hydro Power Project and the Zungeru Hydropower Project.<\/li>
Provisions have been made for legacy debts owed to local contractors compensation and resettlement of project-affected communities, the Renewable Energy Micro Utility (Solar) project, and the construction of transmission lines and substations nationwide. These project\u2019s implementation is expected to have positive impact on electricity supply nationwide, as well as boost productivity and employment.<\/li>
Projects to be implemented by the Ministry of Water Resources in 2021 include provision of potable water in the North East, construction of irrigation and dams across the country, and the provision of Water, Sanitation and Hygiene facilities.<\/li>
The Ministry of Transportation has earmarked funds for projects such as the Lagos-Ibadan-Kano Line, Abuja-Kaduna Line, Port-Harcourt-Maiduguri Line and Itakpe-Ajaokuta-Warri Line. These projects, when completed, will minimize the cost of transporting people and goods around the country.<\/li>
To maintain the peace in the Niger Delta region for economic and social activities to thrive, the provision of N65 billion for the Presidential Amnesty Programme has been retained in the 2021 Budget. In addition, the sum of N63.51 billion has been appropriated for the Niger Delta Development Commission and N24.27 billion has been provided for the capital projects of the Ministry of Niger Delta Affairs. These allocations should further support the development of the region by facilitating the completion of important ongoing projects, such as the East-West Road.<\/li><\/ol>\n\n\n\n
Government Fiscal Strategy in 2021<\/p>\n\n\n\n
The government is already implementing several measures to overcome our fiscal constraints. In addition to the Strategic Revenue Growth Initiatives, we are leveraging technology and automation, as well as more effective monitoring of Independently Generated Revenues. Our efforts are aimed at addressing revenue leakages and redirecting scarce resources to the poor and vulnerable. These efforts include:<\/li><\/ol>\n\n\n\n
a. Deregulation of the price of petroleum products;<\/p>\n\n\n\n
b. Ongoing verification exercise with IPPIS; and<\/p>\n\n\n\n
c. Implementation of service-based electricity tariffs.<\/p>\n\n\n\n
The new petrol pricing regime has freed up resources that was allocated to subsidise petroleum products. Similarly, the ongoing IPPIS verification exercise has closed gaps that encourage ghost workers or pensioners. The service reflective electricity tariffs will help resolve liquidity crisis in the power sector and make the sector attractive to foreign investment. These reforms have released trillions of Naira for allocation to other priority areas.<\/li>
Distinguished Senators, Honourable Members, permit me to reiterate that the main thrust of our capital spending programme in 2021 is the completion of as many ongoing projects as possible across the country. Accordingly, we have prioritized projects that can be rapidly completed to benefit our people.<\/li>
Distinguished Senators and Honourable Members, I note, with satisfaction, your determination to promptly consider and pass the Petroleum Industry Bill into law. The enactment of this Bill will boost confidence and attract further investments into our oil and gas sector, as well as increase revenues.<\/li>
I fully understand the difficulties many of our people are going through with the implementation of our reform agenda. However, the measures we are implementing are necessary for sustainable public finance, better allocation of our scarce resources and improved public service delivery. As we implement these reforms, social safety nets will be implemented to cushion the effect of the most vulnerable of our citizens as well as business owners.<\/li>
In furtherance of our inclusiveness agenda, the sum of N420 billion has been provided to sustain the Social Investment Programme. N20 billion has also been set aside for the Family Homes Fund, our Social Housing Programme. We have expanded our National Social Register, to include an additional one million Nigerians following the onset of Coronavirus. We recently introduced the N75 billion Survival Fund Programme to support and protect businesses from potential vulnerabilities. Furthermore, the Central Bank of Nigeria is reducing the interest rate on its intervention facilities from 9% to 5% with a 1-year moratorium till 31st March 2021, to provide concessional lending of: . N100 billion to households and small businesses;<\/li><\/ol>\n\n\n\n
a. N100 billion to the healthcare and pharmaceutical industry; and<\/p>\n\n\n\n
b. N1 trillion to large agricultural and manufacturing businesses.<\/p>\n\n\n\n
We urge Nigerian businesses and individuals to make the most of these concessional credit facilities and other such opportunities.<\/li><\/ol>\n\n\n\n
Conclusion<\/p>\n\n\n\n
Mr. Senate President, Mr. Speaker, Distinguished and Honourable Members of the 9th National Assembly; let me use this opportunity to, again, commend your firm commitment towards ensuring a very harmonious and productive relationship with the Executive. It is important to further deepen this relationship in the interest of our people.<\/li>
As you review the 2021 Budget estimates, we believe the legislative process will be expedited to ensure its prompt passage to sustain the restoration of a predictable January \u2013 December fiscal year. In this regard, I have directed all Ministers and Heads of Agencies to be personally available for budget defence.<\/li>
Let me re-emphasize that Nigerians expect that the 2021 Budget will contain only implementable and critical projects, which when completed, will significantly address current structural challenges of the economy, improve the business environment and accelerate economic recovery.<\/li>
May I conclude my remarks by commending the National Assembly for its support in steering our economy during these very challenging times. We remain committed to sustaining this partnership. We believe that as we work together, we will jointly deliver on our joint mandate to our people.<\/li>
It is with great pleasure, therefore, that I lay, before this Distinguished Joint Session of the National Assembly, the 2021 Budget Proposals of the Federal Government of Nigeria, for your consideration.<\/li>
I thank you for your attention.<\/li>
May God continue to bless the Federal Republic of Nigeria.<\/li><\/ol>\n","post_title":"Full Speech of President Muhammadu Buhari 2021 Budget Presentation at the National Assembly","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"full-speech-of-president-muhammadu-buhari-2021-budget-presentation-at-the-national-assembly","to_ping":"","pinged":"","post_modified":"2020-10-08 13:21:06","post_modified_gmt":"2020-10-08 13:21:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=437","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
g. Industry, Trade and Investment: N51 billion;<\/p>\n\n\n\n
h. Education: N127 billion;<\/p>\n\n\n\n
i. Universal Basic Education Commission: N70 billion;<\/p>\n\n\n\n
j. Health: N132 billion;<\/p>\n\n\n\n
k. Zonal Intervention Projects: N100 billion; and<\/p>\n\n\n\n
l. Niger Delta Development Commission: N64 billion.<\/p>\n\n\n\n
The Ministry of Agriculture and Rural Development will facilitate the integrated development of its sector by promoting crops\u2019 value chains; as well as providing rural roads, water and sanitation, veterinary and pest controls, grazing, food and strategic reserves, and access to inputs and extension services.<\/li>
The 157 percent increase in the capital allocation to the health sector is to enhance the capacity to deliver healthcare services through the procurement of equipment, vaccines and other facilities. Two centres of excellence, as well as one Accident and Emergency Centre, will be equipped in Federal Teaching Hospitals in each geopolitical zone.<\/li>
In addition, numerous Primary Health Care Centres will be equipped and upgraded across the six geopolitical zones. Furthermore, funds have been allocated for the expansion of Midwives Service Scheme in the six geopolitical zones. To enhance occupational safety, funds have been provided for the provision of Personal Protective Equipment for health workers.<\/li>
The Ministry of Education\u2019s capital allocation has been increased by 65 percent to improve the education of our children. Funds have been provided for the provision of scholarship awards to Nigerian students at home and abroad.<\/li>
We have provided funds for the upgrade of security and other infrastructural facilities in our Unity Colleges nationwide. To improve access to education, we have made provision for the establishment of five new Federal Science and Technical Colleges. We have also provided for the payment of allowances to 5,000 teachers under the Federal Teachers Scheme.<\/li>
In line with our commitment to invest in Transportation Infrastructure, capital allocation to the Works and Housing sector is to facilitate the completion of several critical projects in 2021. I have directed the Minister of Finance, Budget and National Planning to provide a detailed breakdown of key infrastructural projects in her subsequent Press Briefing.<\/li>
Key projects for implementation in the Power sector include several Rural Electrification Projects in the 36 States and Abuja, Rural Electrification Access Programme in Federal Universities, the Kaduna LPFO Gas Fired power Plant, the Mambilla Hydro Power Project and the Zungeru Hydropower Project.<\/li>
Provisions have been made for legacy debts owed to local contractors compensation and resettlement of project-affected communities, the Renewable Energy Micro Utility (Solar) project, and the construction of transmission lines and substations nationwide. These project\u2019s implementation is expected to have positive impact on electricity supply nationwide, as well as boost productivity and employment.<\/li>
Projects to be implemented by the Ministry of Water Resources in 2021 include provision of potable water in the North East, construction of irrigation and dams across the country, and the provision of Water, Sanitation and Hygiene facilities.<\/li>
The Ministry of Transportation has earmarked funds for projects such as the Lagos-Ibadan-Kano Line, Abuja-Kaduna Line, Port-Harcourt-Maiduguri Line and Itakpe-Ajaokuta-Warri Line. These projects, when completed, will minimize the cost of transporting people and goods around the country.<\/li>
To maintain the peace in the Niger Delta region for economic and social activities to thrive, the provision of N65 billion for the Presidential Amnesty Programme has been retained in the 2021 Budget. In addition, the sum of N63.51 billion has been appropriated for the Niger Delta Development Commission and N24.27 billion has been provided for the capital projects of the Ministry of Niger Delta Affairs. These allocations should further support the development of the region by facilitating the completion of important ongoing projects, such as the East-West Road.<\/li><\/ol>\n\n\n\n
Government Fiscal Strategy in 2021<\/p>\n\n\n\n
The government is already implementing several measures to overcome our fiscal constraints. In addition to the Strategic Revenue Growth Initiatives, we are leveraging technology and automation, as well as more effective monitoring of Independently Generated Revenues. Our efforts are aimed at addressing revenue leakages and redirecting scarce resources to the poor and vulnerable. These efforts include:<\/li><\/ol>\n\n\n\n
a. Deregulation of the price of petroleum products;<\/p>\n\n\n\n
b. Ongoing verification exercise with IPPIS; and<\/p>\n\n\n\n
c. Implementation of service-based electricity tariffs.<\/p>\n\n\n\n
The new petrol pricing regime has freed up resources that was allocated to subsidise petroleum products. Similarly, the ongoing IPPIS verification exercise has closed gaps that encourage ghost workers or pensioners. The service reflective electricity tariffs will help resolve liquidity crisis in the power sector and make the sector attractive to foreign investment. These reforms have released trillions of Naira for allocation to other priority areas.<\/li>
Distinguished Senators, Honourable Members, permit me to reiterate that the main thrust of our capital spending programme in 2021 is the completion of as many ongoing projects as possible across the country. Accordingly, we have prioritized projects that can be rapidly completed to benefit our people.<\/li>
Distinguished Senators and Honourable Members, I note, with satisfaction, your determination to promptly consider and pass the Petroleum Industry Bill into law. The enactment of this Bill will boost confidence and attract further investments into our oil and gas sector, as well as increase revenues.<\/li>
I fully understand the difficulties many of our people are going through with the implementation of our reform agenda. However, the measures we are implementing are necessary for sustainable public finance, better allocation of our scarce resources and improved public service delivery. As we implement these reforms, social safety nets will be implemented to cushion the effect of the most vulnerable of our citizens as well as business owners.<\/li>
In furtherance of our inclusiveness agenda, the sum of N420 billion has been provided to sustain the Social Investment Programme. N20 billion has also been set aside for the Family Homes Fund, our Social Housing Programme. We have expanded our National Social Register, to include an additional one million Nigerians following the onset of Coronavirus. We recently introduced the N75 billion Survival Fund Programme to support and protect businesses from potential vulnerabilities. Furthermore, the Central Bank of Nigeria is reducing the interest rate on its intervention facilities from 9% to 5% with a 1-year moratorium till 31st March 2021, to provide concessional lending of: . N100 billion to households and small businesses;<\/li><\/ol>\n\n\n\n
a. N100 billion to the healthcare and pharmaceutical industry; and<\/p>\n\n\n\n
b. N1 trillion to large agricultural and manufacturing businesses.<\/p>\n\n\n\n
We urge Nigerian businesses and individuals to make the most of these concessional credit facilities and other such opportunities.<\/li><\/ol>\n\n\n\n
Conclusion<\/p>\n\n\n\n
Mr. Senate President, Mr. Speaker, Distinguished and Honourable Members of the 9th National Assembly; let me use this opportunity to, again, commend your firm commitment towards ensuring a very harmonious and productive relationship with the Executive. It is important to further deepen this relationship in the interest of our people.<\/li>
As you review the 2021 Budget estimates, we believe the legislative process will be expedited to ensure its prompt passage to sustain the restoration of a predictable January \u2013 December fiscal year. In this regard, I have directed all Ministers and Heads of Agencies to be personally available for budget defence.<\/li>
Let me re-emphasize that Nigerians expect that the 2021 Budget will contain only implementable and critical projects, which when completed, will significantly address current structural challenges of the economy, improve the business environment and accelerate economic recovery.<\/li>
May I conclude my remarks by commending the National Assembly for its support in steering our economy during these very challenging times. We remain committed to sustaining this partnership. We believe that as we work together, we will jointly deliver on our joint mandate to our people.<\/li>
It is with great pleasure, therefore, that I lay, before this Distinguished Joint Session of the National Assembly, the 2021 Budget Proposals of the Federal Government of Nigeria, for your consideration.<\/li>
I thank you for your attention.<\/li>
May God continue to bless the Federal Republic of Nigeria.<\/li><\/ol>\n","post_title":"Full Speech of President Muhammadu Buhari 2021 Budget Presentation at the National Assembly","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"full-speech-of-president-muhammadu-buhari-2021-budget-presentation-at-the-national-assembly","to_ping":"","pinged":"","post_modified":"2020-10-08 13:21:06","post_modified_gmt":"2020-10-08 13:21:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=437","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
g. Industry, Trade and Investment: N51 billion;<\/p>\n\n\n\n
h. Education: N127 billion;<\/p>\n\n\n\n
i. Universal Basic Education Commission: N70 billion;<\/p>\n\n\n\n
j. Health: N132 billion;<\/p>\n\n\n\n
k. Zonal Intervention Projects: N100 billion; and<\/p>\n\n\n\n
l. Niger Delta Development Commission: N64 billion.<\/p>\n\n\n\n
The Ministry of Agriculture and Rural Development will facilitate the integrated development of its sector by promoting crops\u2019 value chains; as well as providing rural roads, water and sanitation, veterinary and pest controls, grazing, food and strategic reserves, and access to inputs and extension services.<\/li>
The 157 percent increase in the capital allocation to the health sector is to enhance the capacity to deliver healthcare services through the procurement of equipment, vaccines and other facilities. Two centres of excellence, as well as one Accident and Emergency Centre, will be equipped in Federal Teaching Hospitals in each geopolitical zone.<\/li>
In addition, numerous Primary Health Care Centres will be equipped and upgraded across the six geopolitical zones. Furthermore, funds have been allocated for the expansion of Midwives Service Scheme in the six geopolitical zones. To enhance occupational safety, funds have been provided for the provision of Personal Protective Equipment for health workers.<\/li>
The Ministry of Education\u2019s capital allocation has been increased by 65 percent to improve the education of our children. Funds have been provided for the provision of scholarship awards to Nigerian students at home and abroad.<\/li>
We have provided funds for the upgrade of security and other infrastructural facilities in our Unity Colleges nationwide. To improve access to education, we have made provision for the establishment of five new Federal Science and Technical Colleges. We have also provided for the payment of allowances to 5,000 teachers under the Federal Teachers Scheme.<\/li>
In line with our commitment to invest in Transportation Infrastructure, capital allocation to the Works and Housing sector is to facilitate the completion of several critical projects in 2021. I have directed the Minister of Finance, Budget and National Planning to provide a detailed breakdown of key infrastructural projects in her subsequent Press Briefing.<\/li>
Key projects for implementation in the Power sector include several Rural Electrification Projects in the 36 States and Abuja, Rural Electrification Access Programme in Federal Universities, the Kaduna LPFO Gas Fired power Plant, the Mambilla Hydro Power Project and the Zungeru Hydropower Project.<\/li>
Provisions have been made for legacy debts owed to local contractors compensation and resettlement of project-affected communities, the Renewable Energy Micro Utility (Solar) project, and the construction of transmission lines and substations nationwide. These project\u2019s implementation is expected to have positive impact on electricity supply nationwide, as well as boost productivity and employment.<\/li>
Projects to be implemented by the Ministry of Water Resources in 2021 include provision of potable water in the North East, construction of irrigation and dams across the country, and the provision of Water, Sanitation and Hygiene facilities.<\/li>
The Ministry of Transportation has earmarked funds for projects such as the Lagos-Ibadan-Kano Line, Abuja-Kaduna Line, Port-Harcourt-Maiduguri Line and Itakpe-Ajaokuta-Warri Line. These projects, when completed, will minimize the cost of transporting people and goods around the country.<\/li>
To maintain the peace in the Niger Delta region for economic and social activities to thrive, the provision of N65 billion for the Presidential Amnesty Programme has been retained in the 2021 Budget. In addition, the sum of N63.51 billion has been appropriated for the Niger Delta Development Commission and N24.27 billion has been provided for the capital projects of the Ministry of Niger Delta Affairs. These allocations should further support the development of the region by facilitating the completion of important ongoing projects, such as the East-West Road.<\/li><\/ol>\n\n\n\n
Government Fiscal Strategy in 2021<\/p>\n\n\n\n
The government is already implementing several measures to overcome our fiscal constraints. In addition to the Strategic Revenue Growth Initiatives, we are leveraging technology and automation, as well as more effective monitoring of Independently Generated Revenues. Our efforts are aimed at addressing revenue leakages and redirecting scarce resources to the poor and vulnerable. These efforts include:<\/li><\/ol>\n\n\n\n
a. Deregulation of the price of petroleum products;<\/p>\n\n\n\n
b. Ongoing verification exercise with IPPIS; and<\/p>\n\n\n\n
c. Implementation of service-based electricity tariffs.<\/p>\n\n\n\n
The new petrol pricing regime has freed up resources that was allocated to subsidise petroleum products. Similarly, the ongoing IPPIS verification exercise has closed gaps that encourage ghost workers or pensioners. The service reflective electricity tariffs will help resolve liquidity crisis in the power sector and make the sector attractive to foreign investment. These reforms have released trillions of Naira for allocation to other priority areas.<\/li>
Distinguished Senators, Honourable Members, permit me to reiterate that the main thrust of our capital spending programme in 2021 is the completion of as many ongoing projects as possible across the country. Accordingly, we have prioritized projects that can be rapidly completed to benefit our people.<\/li>
Distinguished Senators and Honourable Members, I note, with satisfaction, your determination to promptly consider and pass the Petroleum Industry Bill into law. The enactment of this Bill will boost confidence and attract further investments into our oil and gas sector, as well as increase revenues.<\/li>
I fully understand the difficulties many of our people are going through with the implementation of our reform agenda. However, the measures we are implementing are necessary for sustainable public finance, better allocation of our scarce resources and improved public service delivery. As we implement these reforms, social safety nets will be implemented to cushion the effect of the most vulnerable of our citizens as well as business owners.<\/li>
In furtherance of our inclusiveness agenda, the sum of N420 billion has been provided to sustain the Social Investment Programme. N20 billion has also been set aside for the Family Homes Fund, our Social Housing Programme. We have expanded our National Social Register, to include an additional one million Nigerians following the onset of Coronavirus. We recently introduced the N75 billion Survival Fund Programme to support and protect businesses from potential vulnerabilities. Furthermore, the Central Bank of Nigeria is reducing the interest rate on its intervention facilities from 9% to 5% with a 1-year moratorium till 31st March 2021, to provide concessional lending of: . N100 billion to households and small businesses;<\/li><\/ol>\n\n\n\n
a. N100 billion to the healthcare and pharmaceutical industry; and<\/p>\n\n\n\n
b. N1 trillion to large agricultural and manufacturing businesses.<\/p>\n\n\n\n
We urge Nigerian businesses and individuals to make the most of these concessional credit facilities and other such opportunities.<\/li><\/ol>\n\n\n\n
Conclusion<\/p>\n\n\n\n
Mr. Senate President, Mr. Speaker, Distinguished and Honourable Members of the 9th National Assembly; let me use this opportunity to, again, commend your firm commitment towards ensuring a very harmonious and productive relationship with the Executive. It is important to further deepen this relationship in the interest of our people.<\/li>
As you review the 2021 Budget estimates, we believe the legislative process will be expedited to ensure its prompt passage to sustain the restoration of a predictable January \u2013 December fiscal year. In this regard, I have directed all Ministers and Heads of Agencies to be personally available for budget defence.<\/li>
Let me re-emphasize that Nigerians expect that the 2021 Budget will contain only implementable and critical projects, which when completed, will significantly address current structural challenges of the economy, improve the business environment and accelerate economic recovery.<\/li>
May I conclude my remarks by commending the National Assembly for its support in steering our economy during these very challenging times. We remain committed to sustaining this partnership. We believe that as we work together, we will jointly deliver on our joint mandate to our people.<\/li>
It is with great pleasure, therefore, that I lay, before this Distinguished Joint Session of the National Assembly, the 2021 Budget Proposals of the Federal Government of Nigeria, for your consideration.<\/li>
I thank you for your attention.<\/li>
May God continue to bless the Federal Republic of Nigeria.<\/li><\/ol>\n","post_title":"Full Speech of President Muhammadu Buhari 2021 Budget Presentation at the National Assembly","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"full-speech-of-president-muhammadu-buhari-2021-budget-presentation-at-the-national-assembly","to_ping":"","pinged":"","post_modified":"2020-10-08 13:21:06","post_modified_gmt":"2020-10-08 13:21:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=437","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
e. Agriculture and Rural Development: N110 billion;<\/p>\n\n\n\n
f. Water Resources: N153 billion;<\/p>\n\n\n\n
g. Industry, Trade and Investment: N51 billion;<\/p>\n\n\n\n
h. Education: N127 billion;<\/p>\n\n\n\n
i. Universal Basic Education Commission: N70 billion;<\/p>\n\n\n\n
j. Health: N132 billion;<\/p>\n\n\n\n
k. Zonal Intervention Projects: N100 billion; and<\/p>\n\n\n\n
l. Niger Delta Development Commission: N64 billion.<\/p>\n\n\n\n
The Ministry of Agriculture and Rural Development will facilitate the integrated development of its sector by promoting crops\u2019 value chains; as well as providing rural roads, water and sanitation, veterinary and pest controls, grazing, food and strategic reserves, and access to inputs and extension services.<\/li>
The 157 percent increase in the capital allocation to the health sector is to enhance the capacity to deliver healthcare services through the procurement of equipment, vaccines and other facilities. Two centres of excellence, as well as one Accident and Emergency Centre, will be equipped in Federal Teaching Hospitals in each geopolitical zone.<\/li>
In addition, numerous Primary Health Care Centres will be equipped and upgraded across the six geopolitical zones. Furthermore, funds have been allocated for the expansion of Midwives Service Scheme in the six geopolitical zones. To enhance occupational safety, funds have been provided for the provision of Personal Protective Equipment for health workers.<\/li>
The Ministry of Education\u2019s capital allocation has been increased by 65 percent to improve the education of our children. Funds have been provided for the provision of scholarship awards to Nigerian students at home and abroad.<\/li>
We have provided funds for the upgrade of security and other infrastructural facilities in our Unity Colleges nationwide. To improve access to education, we have made provision for the establishment of five new Federal Science and Technical Colleges. We have also provided for the payment of allowances to 5,000 teachers under the Federal Teachers Scheme.<\/li>
In line with our commitment to invest in Transportation Infrastructure, capital allocation to the Works and Housing sector is to facilitate the completion of several critical projects in 2021. I have directed the Minister of Finance, Budget and National Planning to provide a detailed breakdown of key infrastructural projects in her subsequent Press Briefing.<\/li>
Key projects for implementation in the Power sector include several Rural Electrification Projects in the 36 States and Abuja, Rural Electrification Access Programme in Federal Universities, the Kaduna LPFO Gas Fired power Plant, the Mambilla Hydro Power Project and the Zungeru Hydropower Project.<\/li>
Provisions have been made for legacy debts owed to local contractors compensation and resettlement of project-affected communities, the Renewable Energy Micro Utility (Solar) project, and the construction of transmission lines and substations nationwide. These project\u2019s implementation is expected to have positive impact on electricity supply nationwide, as well as boost productivity and employment.<\/li>
Projects to be implemented by the Ministry of Water Resources in 2021 include provision of potable water in the North East, construction of irrigation and dams across the country, and the provision of Water, Sanitation and Hygiene facilities.<\/li>
The Ministry of Transportation has earmarked funds for projects such as the Lagos-Ibadan-Kano Line, Abuja-Kaduna Line, Port-Harcourt-Maiduguri Line and Itakpe-Ajaokuta-Warri Line. These projects, when completed, will minimize the cost of transporting people and goods around the country.<\/li>
To maintain the peace in the Niger Delta region for economic and social activities to thrive, the provision of N65 billion for the Presidential Amnesty Programme has been retained in the 2021 Budget. In addition, the sum of N63.51 billion has been appropriated for the Niger Delta Development Commission and N24.27 billion has been provided for the capital projects of the Ministry of Niger Delta Affairs. These allocations should further support the development of the region by facilitating the completion of important ongoing projects, such as the East-West Road.<\/li><\/ol>\n\n\n\n
Government Fiscal Strategy in 2021<\/p>\n\n\n\n
The government is already implementing several measures to overcome our fiscal constraints. In addition to the Strategic Revenue Growth Initiatives, we are leveraging technology and automation, as well as more effective monitoring of Independently Generated Revenues. Our efforts are aimed at addressing revenue leakages and redirecting scarce resources to the poor and vulnerable. These efforts include:<\/li><\/ol>\n\n\n\n
a. Deregulation of the price of petroleum products;<\/p>\n\n\n\n
b. Ongoing verification exercise with IPPIS; and<\/p>\n\n\n\n
c. Implementation of service-based electricity tariffs.<\/p>\n\n\n\n
The new petrol pricing regime has freed up resources that was allocated to subsidise petroleum products. Similarly, the ongoing IPPIS verification exercise has closed gaps that encourage ghost workers or pensioners. The service reflective electricity tariffs will help resolve liquidity crisis in the power sector and make the sector attractive to foreign investment. These reforms have released trillions of Naira for allocation to other priority areas.<\/li>
Distinguished Senators, Honourable Members, permit me to reiterate that the main thrust of our capital spending programme in 2021 is the completion of as many ongoing projects as possible across the country. Accordingly, we have prioritized projects that can be rapidly completed to benefit our people.<\/li>
Distinguished Senators and Honourable Members, I note, with satisfaction, your determination to promptly consider and pass the Petroleum Industry Bill into law. The enactment of this Bill will boost confidence and attract further investments into our oil and gas sector, as well as increase revenues.<\/li>
I fully understand the difficulties many of our people are going through with the implementation of our reform agenda. However, the measures we are implementing are necessary for sustainable public finance, better allocation of our scarce resources and improved public service delivery. As we implement these reforms, social safety nets will be implemented to cushion the effect of the most vulnerable of our citizens as well as business owners.<\/li>
In furtherance of our inclusiveness agenda, the sum of N420 billion has been provided to sustain the Social Investment Programme. N20 billion has also been set aside for the Family Homes Fund, our Social Housing Programme. We have expanded our National Social Register, to include an additional one million Nigerians following the onset of Coronavirus. We recently introduced the N75 billion Survival Fund Programme to support and protect businesses from potential vulnerabilities. Furthermore, the Central Bank of Nigeria is reducing the interest rate on its intervention facilities from 9% to 5% with a 1-year moratorium till 31st March 2021, to provide concessional lending of: . N100 billion to households and small businesses;<\/li><\/ol>\n\n\n\n
a. N100 billion to the healthcare and pharmaceutical industry; and<\/p>\n\n\n\n
b. N1 trillion to large agricultural and manufacturing businesses.<\/p>\n\n\n\n
We urge Nigerian businesses and individuals to make the most of these concessional credit facilities and other such opportunities.<\/li><\/ol>\n\n\n\n
Conclusion<\/p>\n\n\n\n
Mr. Senate President, Mr. Speaker, Distinguished and Honourable Members of the 9th National Assembly; let me use this opportunity to, again, commend your firm commitment towards ensuring a very harmonious and productive relationship with the Executive. It is important to further deepen this relationship in the interest of our people.<\/li>
As you review the 2021 Budget estimates, we believe the legislative process will be expedited to ensure its prompt passage to sustain the restoration of a predictable January \u2013 December fiscal year. In this regard, I have directed all Ministers and Heads of Agencies to be personally available for budget defence.<\/li>
Let me re-emphasize that Nigerians expect that the 2021 Budget will contain only implementable and critical projects, which when completed, will significantly address current structural challenges of the economy, improve the business environment and accelerate economic recovery.<\/li>
May I conclude my remarks by commending the National Assembly for its support in steering our economy during these very challenging times. We remain committed to sustaining this partnership. We believe that as we work together, we will jointly deliver on our joint mandate to our people.<\/li>
It is with great pleasure, therefore, that I lay, before this Distinguished Joint Session of the National Assembly, the 2021 Budget Proposals of the Federal Government of Nigeria, for your consideration.<\/li>
I thank you for your attention.<\/li>
May God continue to bless the Federal Republic of Nigeria.<\/li><\/ol>\n","post_title":"Full Speech of President Muhammadu Buhari 2021 Budget Presentation at the National Assembly","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"full-speech-of-president-muhammadu-buhari-2021-budget-presentation-at-the-national-assembly","to_ping":"","pinged":"","post_modified":"2020-10-08 13:21:06","post_modified_gmt":"2020-10-08 13:21:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=437","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
e. Agriculture and Rural Development: N110 billion;<\/p>\n\n\n\n
f. Water Resources: N153 billion;<\/p>\n\n\n\n
g. Industry, Trade and Investment: N51 billion;<\/p>\n\n\n\n
h. Education: N127 billion;<\/p>\n\n\n\n
i. Universal Basic Education Commission: N70 billion;<\/p>\n\n\n\n
j. Health: N132 billion;<\/p>\n\n\n\n
k. Zonal Intervention Projects: N100 billion; and<\/p>\n\n\n\n
l. Niger Delta Development Commission: N64 billion.<\/p>\n\n\n\n
The Ministry of Agriculture and Rural Development will facilitate the integrated development of its sector by promoting crops\u2019 value chains; as well as providing rural roads, water and sanitation, veterinary and pest controls, grazing, food and strategic reserves, and access to inputs and extension services.<\/li>
The 157 percent increase in the capital allocation to the health sector is to enhance the capacity to deliver healthcare services through the procurement of equipment, vaccines and other facilities. Two centres of excellence, as well as one Accident and Emergency Centre, will be equipped in Federal Teaching Hospitals in each geopolitical zone.<\/li>
In addition, numerous Primary Health Care Centres will be equipped and upgraded across the six geopolitical zones. Furthermore, funds have been allocated for the expansion of Midwives Service Scheme in the six geopolitical zones. To enhance occupational safety, funds have been provided for the provision of Personal Protective Equipment for health workers.<\/li>
The Ministry of Education\u2019s capital allocation has been increased by 65 percent to improve the education of our children. Funds have been provided for the provision of scholarship awards to Nigerian students at home and abroad.<\/li>
We have provided funds for the upgrade of security and other infrastructural facilities in our Unity Colleges nationwide. To improve access to education, we have made provision for the establishment of five new Federal Science and Technical Colleges. We have also provided for the payment of allowances to 5,000 teachers under the Federal Teachers Scheme.<\/li>
In line with our commitment to invest in Transportation Infrastructure, capital allocation to the Works and Housing sector is to facilitate the completion of several critical projects in 2021. I have directed the Minister of Finance, Budget and National Planning to provide a detailed breakdown of key infrastructural projects in her subsequent Press Briefing.<\/li>
Key projects for implementation in the Power sector include several Rural Electrification Projects in the 36 States and Abuja, Rural Electrification Access Programme in Federal Universities, the Kaduna LPFO Gas Fired power Plant, the Mambilla Hydro Power Project and the Zungeru Hydropower Project.<\/li>
Provisions have been made for legacy debts owed to local contractors compensation and resettlement of project-affected communities, the Renewable Energy Micro Utility (Solar) project, and the construction of transmission lines and substations nationwide. These project\u2019s implementation is expected to have positive impact on electricity supply nationwide, as well as boost productivity and employment.<\/li>
Projects to be implemented by the Ministry of Water Resources in 2021 include provision of potable water in the North East, construction of irrigation and dams across the country, and the provision of Water, Sanitation and Hygiene facilities.<\/li>
The Ministry of Transportation has earmarked funds for projects such as the Lagos-Ibadan-Kano Line, Abuja-Kaduna Line, Port-Harcourt-Maiduguri Line and Itakpe-Ajaokuta-Warri Line. These projects, when completed, will minimize the cost of transporting people and goods around the country.<\/li>
To maintain the peace in the Niger Delta region for economic and social activities to thrive, the provision of N65 billion for the Presidential Amnesty Programme has been retained in the 2021 Budget. In addition, the sum of N63.51 billion has been appropriated for the Niger Delta Development Commission and N24.27 billion has been provided for the capital projects of the Ministry of Niger Delta Affairs. These allocations should further support the development of the region by facilitating the completion of important ongoing projects, such as the East-West Road.<\/li><\/ol>\n\n\n\n
Government Fiscal Strategy in 2021<\/p>\n\n\n\n
The government is already implementing several measures to overcome our fiscal constraints. In addition to the Strategic Revenue Growth Initiatives, we are leveraging technology and automation, as well as more effective monitoring of Independently Generated Revenues. Our efforts are aimed at addressing revenue leakages and redirecting scarce resources to the poor and vulnerable. These efforts include:<\/li><\/ol>\n\n\n\n
a. Deregulation of the price of petroleum products;<\/p>\n\n\n\n
b. Ongoing verification exercise with IPPIS; and<\/p>\n\n\n\n
c. Implementation of service-based electricity tariffs.<\/p>\n\n\n\n
The new petrol pricing regime has freed up resources that was allocated to subsidise petroleum products. Similarly, the ongoing IPPIS verification exercise has closed gaps that encourage ghost workers or pensioners. The service reflective electricity tariffs will help resolve liquidity crisis in the power sector and make the sector attractive to foreign investment. These reforms have released trillions of Naira for allocation to other priority areas.<\/li>
Distinguished Senators, Honourable Members, permit me to reiterate that the main thrust of our capital spending programme in 2021 is the completion of as many ongoing projects as possible across the country. Accordingly, we have prioritized projects that can be rapidly completed to benefit our people.<\/li>
Distinguished Senators and Honourable Members, I note, with satisfaction, your determination to promptly consider and pass the Petroleum Industry Bill into law. The enactment of this Bill will boost confidence and attract further investments into our oil and gas sector, as well as increase revenues.<\/li>
I fully understand the difficulties many of our people are going through with the implementation of our reform agenda. However, the measures we are implementing are necessary for sustainable public finance, better allocation of our scarce resources and improved public service delivery. As we implement these reforms, social safety nets will be implemented to cushion the effect of the most vulnerable of our citizens as well as business owners.<\/li>
In furtherance of our inclusiveness agenda, the sum of N420 billion has been provided to sustain the Social Investment Programme. N20 billion has also been set aside for the Family Homes Fund, our Social Housing Programme. We have expanded our National Social Register, to include an additional one million Nigerians following the onset of Coronavirus. We recently introduced the N75 billion Survival Fund Programme to support and protect businesses from potential vulnerabilities. Furthermore, the Central Bank of Nigeria is reducing the interest rate on its intervention facilities from 9% to 5% with a 1-year moratorium till 31st March 2021, to provide concessional lending of: . N100 billion to households and small businesses;<\/li><\/ol>\n\n\n\n
a. N100 billion to the healthcare and pharmaceutical industry; and<\/p>\n\n\n\n
b. N1 trillion to large agricultural and manufacturing businesses.<\/p>\n\n\n\n
We urge Nigerian businesses and individuals to make the most of these concessional credit facilities and other such opportunities.<\/li><\/ol>\n\n\n\n
Conclusion<\/p>\n\n\n\n
Mr. Senate President, Mr. Speaker, Distinguished and Honourable Members of the 9th National Assembly; let me use this opportunity to, again, commend your firm commitment towards ensuring a very harmonious and productive relationship with the Executive. It is important to further deepen this relationship in the interest of our people.<\/li>
As you review the 2021 Budget estimates, we believe the legislative process will be expedited to ensure its prompt passage to sustain the restoration of a predictable January \u2013 December fiscal year. In this regard, I have directed all Ministers and Heads of Agencies to be personally available for budget defence.<\/li>
Let me re-emphasize that Nigerians expect that the 2021 Budget will contain only implementable and critical projects, which when completed, will significantly address current structural challenges of the economy, improve the business environment and accelerate economic recovery.<\/li>
May I conclude my remarks by commending the National Assembly for its support in steering our economy during these very challenging times. We remain committed to sustaining this partnership. We believe that as we work together, we will jointly deliver on our joint mandate to our people.<\/li>
It is with great pleasure, therefore, that I lay, before this Distinguished Joint Session of the National Assembly, the 2021 Budget Proposals of the Federal Government of Nigeria, for your consideration.<\/li>
I thank you for your attention.<\/li>
May God continue to bless the Federal Republic of Nigeria.<\/li><\/ol>\n","post_title":"Full Speech of President Muhammadu Buhari 2021 Budget Presentation at the National Assembly","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"full-speech-of-president-muhammadu-buhari-2021-budget-presentation-at-the-national-assembly","to_ping":"","pinged":"","post_modified":"2020-10-08 13:21:06","post_modified_gmt":"2020-10-08 13:21:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=437","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
e. Agriculture and Rural Development: N110 billion;<\/p>\n\n\n\n
f. Water Resources: N153 billion;<\/p>\n\n\n\n
g. Industry, Trade and Investment: N51 billion;<\/p>\n\n\n\n
h. Education: N127 billion;<\/p>\n\n\n\n
i. Universal Basic Education Commission: N70 billion;<\/p>\n\n\n\n
j. Health: N132 billion;<\/p>\n\n\n\n
k. Zonal Intervention Projects: N100 billion; and<\/p>\n\n\n\n
l. Niger Delta Development Commission: N64 billion.<\/p>\n\n\n\n
The Ministry of Agriculture and Rural Development will facilitate the integrated development of its sector by promoting crops\u2019 value chains; as well as providing rural roads, water and sanitation, veterinary and pest controls, grazing, food and strategic reserves, and access to inputs and extension services.<\/li>
The 157 percent increase in the capital allocation to the health sector is to enhance the capacity to deliver healthcare services through the procurement of equipment, vaccines and other facilities. Two centres of excellence, as well as one Accident and Emergency Centre, will be equipped in Federal Teaching Hospitals in each geopolitical zone.<\/li>
In addition, numerous Primary Health Care Centres will be equipped and upgraded across the six geopolitical zones. Furthermore, funds have been allocated for the expansion of Midwives Service Scheme in the six geopolitical zones. To enhance occupational safety, funds have been provided for the provision of Personal Protective Equipment for health workers.<\/li>
The Ministry of Education\u2019s capital allocation has been increased by 65 percent to improve the education of our children. Funds have been provided for the provision of scholarship awards to Nigerian students at home and abroad.<\/li>
We have provided funds for the upgrade of security and other infrastructural facilities in our Unity Colleges nationwide. To improve access to education, we have made provision for the establishment of five new Federal Science and Technical Colleges. We have also provided for the payment of allowances to 5,000 teachers under the Federal Teachers Scheme.<\/li>
In line with our commitment to invest in Transportation Infrastructure, capital allocation to the Works and Housing sector is to facilitate the completion of several critical projects in 2021. I have directed the Minister of Finance, Budget and National Planning to provide a detailed breakdown of key infrastructural projects in her subsequent Press Briefing.<\/li>
Key projects for implementation in the Power sector include several Rural Electrification Projects in the 36 States and Abuja, Rural Electrification Access Programme in Federal Universities, the Kaduna LPFO Gas Fired power Plant, the Mambilla Hydro Power Project and the Zungeru Hydropower Project.<\/li>
Provisions have been made for legacy debts owed to local contractors compensation and resettlement of project-affected communities, the Renewable Energy Micro Utility (Solar) project, and the construction of transmission lines and substations nationwide. These project\u2019s implementation is expected to have positive impact on electricity supply nationwide, as well as boost productivity and employment.<\/li>
Projects to be implemented by the Ministry of Water Resources in 2021 include provision of potable water in the North East, construction of irrigation and dams across the country, and the provision of Water, Sanitation and Hygiene facilities.<\/li>
The Ministry of Transportation has earmarked funds for projects such as the Lagos-Ibadan-Kano Line, Abuja-Kaduna Line, Port-Harcourt-Maiduguri Line and Itakpe-Ajaokuta-Warri Line. These projects, when completed, will minimize the cost of transporting people and goods around the country.<\/li>
To maintain the peace in the Niger Delta region for economic and social activities to thrive, the provision of N65 billion for the Presidential Amnesty Programme has been retained in the 2021 Budget. In addition, the sum of N63.51 billion has been appropriated for the Niger Delta Development Commission and N24.27 billion has been provided for the capital projects of the Ministry of Niger Delta Affairs. These allocations should further support the development of the region by facilitating the completion of important ongoing projects, such as the East-West Road.<\/li><\/ol>\n\n\n\n
Government Fiscal Strategy in 2021<\/p>\n\n\n\n
The government is already implementing several measures to overcome our fiscal constraints. In addition to the Strategic Revenue Growth Initiatives, we are leveraging technology and automation, as well as more effective monitoring of Independently Generated Revenues. Our efforts are aimed at addressing revenue leakages and redirecting scarce resources to the poor and vulnerable. These efforts include:<\/li><\/ol>\n\n\n\n
a. Deregulation of the price of petroleum products;<\/p>\n\n\n\n
b. Ongoing verification exercise with IPPIS; and<\/p>\n\n\n\n
c. Implementation of service-based electricity tariffs.<\/p>\n\n\n\n
The new petrol pricing regime has freed up resources that was allocated to subsidise petroleum products. Similarly, the ongoing IPPIS verification exercise has closed gaps that encourage ghost workers or pensioners. The service reflective electricity tariffs will help resolve liquidity crisis in the power sector and make the sector attractive to foreign investment. These reforms have released trillions of Naira for allocation to other priority areas.<\/li>
Distinguished Senators, Honourable Members, permit me to reiterate that the main thrust of our capital spending programme in 2021 is the completion of as many ongoing projects as possible across the country. Accordingly, we have prioritized projects that can be rapidly completed to benefit our people.<\/li>
Distinguished Senators and Honourable Members, I note, with satisfaction, your determination to promptly consider and pass the Petroleum Industry Bill into law. The enactment of this Bill will boost confidence and attract further investments into our oil and gas sector, as well as increase revenues.<\/li>
I fully understand the difficulties many of our people are going through with the implementation of our reform agenda. However, the measures we are implementing are necessary for sustainable public finance, better allocation of our scarce resources and improved public service delivery. As we implement these reforms, social safety nets will be implemented to cushion the effect of the most vulnerable of our citizens as well as business owners.<\/li>
In furtherance of our inclusiveness agenda, the sum of N420 billion has been provided to sustain the Social Investment Programme. N20 billion has also been set aside for the Family Homes Fund, our Social Housing Programme. We have expanded our National Social Register, to include an additional one million Nigerians following the onset of Coronavirus. We recently introduced the N75 billion Survival Fund Programme to support and protect businesses from potential vulnerabilities. Furthermore, the Central Bank of Nigeria is reducing the interest rate on its intervention facilities from 9% to 5% with a 1-year moratorium till 31st March 2021, to provide concessional lending of: . N100 billion to households and small businesses;<\/li><\/ol>\n\n\n\n
a. N100 billion to the healthcare and pharmaceutical industry; and<\/p>\n\n\n\n
b. N1 trillion to large agricultural and manufacturing businesses.<\/p>\n\n\n\n
We urge Nigerian businesses and individuals to make the most of these concessional credit facilities and other such opportunities.<\/li><\/ol>\n\n\n\n
Conclusion<\/p>\n\n\n\n
Mr. Senate President, Mr. Speaker, Distinguished and Honourable Members of the 9th National Assembly; let me use this opportunity to, again, commend your firm commitment towards ensuring a very harmonious and productive relationship with the Executive. It is important to further deepen this relationship in the interest of our people.<\/li>
As you review the 2021 Budget estimates, we believe the legislative process will be expedited to ensure its prompt passage to sustain the restoration of a predictable January \u2013 December fiscal year. In this regard, I have directed all Ministers and Heads of Agencies to be personally available for budget defence.<\/li>
Let me re-emphasize that Nigerians expect that the 2021 Budget will contain only implementable and critical projects, which when completed, will significantly address current structural challenges of the economy, improve the business environment and accelerate economic recovery.<\/li>
May I conclude my remarks by commending the National Assembly for its support in steering our economy during these very challenging times. We remain committed to sustaining this partnership. We believe that as we work together, we will jointly deliver on our joint mandate to our people.<\/li>
It is with great pleasure, therefore, that I lay, before this Distinguished Joint Session of the National Assembly, the 2021 Budget Proposals of the Federal Government of Nigeria, for your consideration.<\/li>
I thank you for your attention.<\/li>
May God continue to bless the Federal Republic of Nigeria.<\/li><\/ol>\n","post_title":"Full Speech of President Muhammadu Buhari 2021 Budget Presentation at the National Assembly","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"full-speech-of-president-muhammadu-buhari-2021-budget-presentation-at-the-national-assembly","to_ping":"","pinged":"","post_modified":"2020-10-08 13:21:06","post_modified_gmt":"2020-10-08 13:21:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=437","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
e. Agriculture and Rural Development: N110 billion;<\/p>\n\n\n\n
f. Water Resources: N153 billion;<\/p>\n\n\n\n
g. Industry, Trade and Investment: N51 billion;<\/p>\n\n\n\n
h. Education: N127 billion;<\/p>\n\n\n\n
i. Universal Basic Education Commission: N70 billion;<\/p>\n\n\n\n
j. Health: N132 billion;<\/p>\n\n\n\n
k. Zonal Intervention Projects: N100 billion; and<\/p>\n\n\n\n
l. Niger Delta Development Commission: N64 billion.<\/p>\n\n\n\n
The Ministry of Agriculture and Rural Development will facilitate the integrated development of its sector by promoting crops\u2019 value chains; as well as providing rural roads, water and sanitation, veterinary and pest controls, grazing, food and strategic reserves, and access to inputs and extension services.<\/li>
The 157 percent increase in the capital allocation to the health sector is to enhance the capacity to deliver healthcare services through the procurement of equipment, vaccines and other facilities. Two centres of excellence, as well as one Accident and Emergency Centre, will be equipped in Federal Teaching Hospitals in each geopolitical zone.<\/li>
In addition, numerous Primary Health Care Centres will be equipped and upgraded across the six geopolitical zones. Furthermore, funds have been allocated for the expansion of Midwives Service Scheme in the six geopolitical zones. To enhance occupational safety, funds have been provided for the provision of Personal Protective Equipment for health workers.<\/li>
The Ministry of Education\u2019s capital allocation has been increased by 65 percent to improve the education of our children. Funds have been provided for the provision of scholarship awards to Nigerian students at home and abroad.<\/li>
We have provided funds for the upgrade of security and other infrastructural facilities in our Unity Colleges nationwide. To improve access to education, we have made provision for the establishment of five new Federal Science and Technical Colleges. We have also provided for the payment of allowances to 5,000 teachers under the Federal Teachers Scheme.<\/li>
In line with our commitment to invest in Transportation Infrastructure, capital allocation to the Works and Housing sector is to facilitate the completion of several critical projects in 2021. I have directed the Minister of Finance, Budget and National Planning to provide a detailed breakdown of key infrastructural projects in her subsequent Press Briefing.<\/li>
Key projects for implementation in the Power sector include several Rural Electrification Projects in the 36 States and Abuja, Rural Electrification Access Programme in Federal Universities, the Kaduna LPFO Gas Fired power Plant, the Mambilla Hydro Power Project and the Zungeru Hydropower Project.<\/li>
Provisions have been made for legacy debts owed to local contractors compensation and resettlement of project-affected communities, the Renewable Energy Micro Utility (Solar) project, and the construction of transmission lines and substations nationwide. These project\u2019s implementation is expected to have positive impact on electricity supply nationwide, as well as boost productivity and employment.<\/li>
Projects to be implemented by the Ministry of Water Resources in 2021 include provision of potable water in the North East, construction of irrigation and dams across the country, and the provision of Water, Sanitation and Hygiene facilities.<\/li>
The Ministry of Transportation has earmarked funds for projects such as the Lagos-Ibadan-Kano Line, Abuja-Kaduna Line, Port-Harcourt-Maiduguri Line and Itakpe-Ajaokuta-Warri Line. These projects, when completed, will minimize the cost of transporting people and goods around the country.<\/li>
To maintain the peace in the Niger Delta region for economic and social activities to thrive, the provision of N65 billion for the Presidential Amnesty Programme has been retained in the 2021 Budget. In addition, the sum of N63.51 billion has been appropriated for the Niger Delta Development Commission and N24.27 billion has been provided for the capital projects of the Ministry of Niger Delta Affairs. These allocations should further support the development of the region by facilitating the completion of important ongoing projects, such as the East-West Road.<\/li><\/ol>\n\n\n\n
Government Fiscal Strategy in 2021<\/p>\n\n\n\n
The government is already implementing several measures to overcome our fiscal constraints. In addition to the Strategic Revenue Growth Initiatives, we are leveraging technology and automation, as well as more effective monitoring of Independently Generated Revenues. Our efforts are aimed at addressing revenue leakages and redirecting scarce resources to the poor and vulnerable. These efforts include:<\/li><\/ol>\n\n\n\n
a. Deregulation of the price of petroleum products;<\/p>\n\n\n\n
b. Ongoing verification exercise with IPPIS; and<\/p>\n\n\n\n
c. Implementation of service-based electricity tariffs.<\/p>\n\n\n\n
The new petrol pricing regime has freed up resources that was allocated to subsidise petroleum products. Similarly, the ongoing IPPIS verification exercise has closed gaps that encourage ghost workers or pensioners. The service reflective electricity tariffs will help resolve liquidity crisis in the power sector and make the sector attractive to foreign investment. These reforms have released trillions of Naira for allocation to other priority areas.<\/li>
Distinguished Senators, Honourable Members, permit me to reiterate that the main thrust of our capital spending programme in 2021 is the completion of as many ongoing projects as possible across the country. Accordingly, we have prioritized projects that can be rapidly completed to benefit our people.<\/li>
Distinguished Senators and Honourable Members, I note, with satisfaction, your determination to promptly consider and pass the Petroleum Industry Bill into law. The enactment of this Bill will boost confidence and attract further investments into our oil and gas sector, as well as increase revenues.<\/li>
I fully understand the difficulties many of our people are going through with the implementation of our reform agenda. However, the measures we are implementing are necessary for sustainable public finance, better allocation of our scarce resources and improved public service delivery. As we implement these reforms, social safety nets will be implemented to cushion the effect of the most vulnerable of our citizens as well as business owners.<\/li>
In furtherance of our inclusiveness agenda, the sum of N420 billion has been provided to sustain the Social Investment Programme. N20 billion has also been set aside for the Family Homes Fund, our Social Housing Programme. We have expanded our National Social Register, to include an additional one million Nigerians following the onset of Coronavirus. We recently introduced the N75 billion Survival Fund Programme to support and protect businesses from potential vulnerabilities. Furthermore, the Central Bank of Nigeria is reducing the interest rate on its intervention facilities from 9% to 5% with a 1-year moratorium till 31st March 2021, to provide concessional lending of: . N100 billion to households and small businesses;<\/li><\/ol>\n\n\n\n
a. N100 billion to the healthcare and pharmaceutical industry; and<\/p>\n\n\n\n
b. N1 trillion to large agricultural and manufacturing businesses.<\/p>\n\n\n\n
We urge Nigerian businesses and individuals to make the most of these concessional credit facilities and other such opportunities.<\/li><\/ol>\n\n\n\n
Conclusion<\/p>\n\n\n\n
Mr. Senate President, Mr. Speaker, Distinguished and Honourable Members of the 9th National Assembly; let me use this opportunity to, again, commend your firm commitment towards ensuring a very harmonious and productive relationship with the Executive. It is important to further deepen this relationship in the interest of our people.<\/li>
As you review the 2021 Budget estimates, we believe the legislative process will be expedited to ensure its prompt passage to sustain the restoration of a predictable January \u2013 December fiscal year. In this regard, I have directed all Ministers and Heads of Agencies to be personally available for budget defence.<\/li>
Let me re-emphasize that Nigerians expect that the 2021 Budget will contain only implementable and critical projects, which when completed, will significantly address current structural challenges of the economy, improve the business environment and accelerate economic recovery.<\/li>
May I conclude my remarks by commending the National Assembly for its support in steering our economy during these very challenging times. We remain committed to sustaining this partnership. We believe that as we work together, we will jointly deliver on our joint mandate to our people.<\/li>
It is with great pleasure, therefore, that I lay, before this Distinguished Joint Session of the National Assembly, the 2021 Budget Proposals of the Federal Government of Nigeria, for your consideration.<\/li>
I thank you for your attention.<\/li>
May God continue to bless the Federal Republic of Nigeria.<\/li><\/ol>\n","post_title":"Full Speech of President Muhammadu Buhari 2021 Budget Presentation at the National Assembly","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"full-speech-of-president-muhammadu-buhari-2021-budget-presentation-at-the-national-assembly","to_ping":"","pinged":"","post_modified":"2020-10-08 13:21:06","post_modified_gmt":"2020-10-08 13:21:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=437","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
a. Power: N198 billion (inclusive of N150 billion for the Power Sector Recovery Plan);<\/p>\n\n\n\n
b. Works and Housing: N404 billion;<\/p>\n\n\n\n
c. Transportation: N256 billion;<\/p>\n\n\n\n
d. Defence: N121 billion;<\/p>\n\n\n\n
e. Agriculture and Rural Development: N110 billion;<\/p>\n\n\n\n
f. Water Resources: N153 billion;<\/p>\n\n\n\n
g. Industry, Trade and Investment: N51 billion;<\/p>\n\n\n\n
h. Education: N127 billion;<\/p>\n\n\n\n
i. Universal Basic Education Commission: N70 billion;<\/p>\n\n\n\n
j. Health: N132 billion;<\/p>\n\n\n\n
k. Zonal Intervention Projects: N100 billion; and<\/p>\n\n\n\n
l. Niger Delta Development Commission: N64 billion.<\/p>\n\n\n\n
The Ministry of Agriculture and Rural Development will facilitate the integrated development of its sector by promoting crops\u2019 value chains; as well as providing rural roads, water and sanitation, veterinary and pest controls, grazing, food and strategic reserves, and access to inputs and extension services.<\/li>
The 157 percent increase in the capital allocation to the health sector is to enhance the capacity to deliver healthcare services through the procurement of equipment, vaccines and other facilities. Two centres of excellence, as well as one Accident and Emergency Centre, will be equipped in Federal Teaching Hospitals in each geopolitical zone.<\/li>
In addition, numerous Primary Health Care Centres will be equipped and upgraded across the six geopolitical zones. Furthermore, funds have been allocated for the expansion of Midwives Service Scheme in the six geopolitical zones. To enhance occupational safety, funds have been provided for the provision of Personal Protective Equipment for health workers.<\/li>
The Ministry of Education\u2019s capital allocation has been increased by 65 percent to improve the education of our children. Funds have been provided for the provision of scholarship awards to Nigerian students at home and abroad.<\/li>
We have provided funds for the upgrade of security and other infrastructural facilities in our Unity Colleges nationwide. To improve access to education, we have made provision for the establishment of five new Federal Science and Technical Colleges. We have also provided for the payment of allowances to 5,000 teachers under the Federal Teachers Scheme.<\/li>
In line with our commitment to invest in Transportation Infrastructure, capital allocation to the Works and Housing sector is to facilitate the completion of several critical projects in 2021. I have directed the Minister of Finance, Budget and National Planning to provide a detailed breakdown of key infrastructural projects in her subsequent Press Briefing.<\/li>
Key projects for implementation in the Power sector include several Rural Electrification Projects in the 36 States and Abuja, Rural Electrification Access Programme in Federal Universities, the Kaduna LPFO Gas Fired power Plant, the Mambilla Hydro Power Project and the Zungeru Hydropower Project.<\/li>
Provisions have been made for legacy debts owed to local contractors compensation and resettlement of project-affected communities, the Renewable Energy Micro Utility (Solar) project, and the construction of transmission lines and substations nationwide. These project\u2019s implementation is expected to have positive impact on electricity supply nationwide, as well as boost productivity and employment.<\/li>
Projects to be implemented by the Ministry of Water Resources in 2021 include provision of potable water in the North East, construction of irrigation and dams across the country, and the provision of Water, Sanitation and Hygiene facilities.<\/li>
The Ministry of Transportation has earmarked funds for projects such as the Lagos-Ibadan-Kano Line, Abuja-Kaduna Line, Port-Harcourt-Maiduguri Line and Itakpe-Ajaokuta-Warri Line. These projects, when completed, will minimize the cost of transporting people and goods around the country.<\/li>
To maintain the peace in the Niger Delta region for economic and social activities to thrive, the provision of N65 billion for the Presidential Amnesty Programme has been retained in the 2021 Budget. In addition, the sum of N63.51 billion has been appropriated for the Niger Delta Development Commission and N24.27 billion has been provided for the capital projects of the Ministry of Niger Delta Affairs. These allocations should further support the development of the region by facilitating the completion of important ongoing projects, such as the East-West Road.<\/li><\/ol>\n\n\n\n
Government Fiscal Strategy in 2021<\/p>\n\n\n\n
The government is already implementing several measures to overcome our fiscal constraints. In addition to the Strategic Revenue Growth Initiatives, we are leveraging technology and automation, as well as more effective monitoring of Independently Generated Revenues. Our efforts are aimed at addressing revenue leakages and redirecting scarce resources to the poor and vulnerable. These efforts include:<\/li><\/ol>\n\n\n\n
a. Deregulation of the price of petroleum products;<\/p>\n\n\n\n
b. Ongoing verification exercise with IPPIS; and<\/p>\n\n\n\n
c. Implementation of service-based electricity tariffs.<\/p>\n\n\n\n
The new petrol pricing regime has freed up resources that was allocated to subsidise petroleum products. Similarly, the ongoing IPPIS verification exercise has closed gaps that encourage ghost workers or pensioners. The service reflective electricity tariffs will help resolve liquidity crisis in the power sector and make the sector attractive to foreign investment. These reforms have released trillions of Naira for allocation to other priority areas.<\/li>
Distinguished Senators, Honourable Members, permit me to reiterate that the main thrust of our capital spending programme in 2021 is the completion of as many ongoing projects as possible across the country. Accordingly, we have prioritized projects that can be rapidly completed to benefit our people.<\/li>
Distinguished Senators and Honourable Members, I note, with satisfaction, your determination to promptly consider and pass the Petroleum Industry Bill into law. The enactment of this Bill will boost confidence and attract further investments into our oil and gas sector, as well as increase revenues.<\/li>
I fully understand the difficulties many of our people are going through with the implementation of our reform agenda. However, the measures we are implementing are necessary for sustainable public finance, better allocation of our scarce resources and improved public service delivery. As we implement these reforms, social safety nets will be implemented to cushion the effect of the most vulnerable of our citizens as well as business owners.<\/li>
In furtherance of our inclusiveness agenda, the sum of N420 billion has been provided to sustain the Social Investment Programme. N20 billion has also been set aside for the Family Homes Fund, our Social Housing Programme. We have expanded our National Social Register, to include an additional one million Nigerians following the onset of Coronavirus. We recently introduced the N75 billion Survival Fund Programme to support and protect businesses from potential vulnerabilities. Furthermore, the Central Bank of Nigeria is reducing the interest rate on its intervention facilities from 9% to 5% with a 1-year moratorium till 31st March 2021, to provide concessional lending of: . N100 billion to households and small businesses;<\/li><\/ol>\n\n\n\n
a. N100 billion to the healthcare and pharmaceutical industry; and<\/p>\n\n\n\n
b. N1 trillion to large agricultural and manufacturing businesses.<\/p>\n\n\n\n
We urge Nigerian businesses and individuals to make the most of these concessional credit facilities and other such opportunities.<\/li><\/ol>\n\n\n\n
Conclusion<\/p>\n\n\n\n
Mr. Senate President, Mr. Speaker, Distinguished and Honourable Members of the 9th National Assembly; let me use this opportunity to, again, commend your firm commitment towards ensuring a very harmonious and productive relationship with the Executive. It is important to further deepen this relationship in the interest of our people.<\/li>
As you review the 2021 Budget estimates, we believe the legislative process will be expedited to ensure its prompt passage to sustain the restoration of a predictable January \u2013 December fiscal year. In this regard, I have directed all Ministers and Heads of Agencies to be personally available for budget defence.<\/li>
Let me re-emphasize that Nigerians expect that the 2021 Budget will contain only implementable and critical projects, which when completed, will significantly address current structural challenges of the economy, improve the business environment and accelerate economic recovery.<\/li>
May I conclude my remarks by commending the National Assembly for its support in steering our economy during these very challenging times. We remain committed to sustaining this partnership. We believe that as we work together, we will jointly deliver on our joint mandate to our people.<\/li>
It is with great pleasure, therefore, that I lay, before this Distinguished Joint Session of the National Assembly, the 2021 Budget Proposals of the Federal Government of Nigeria, for your consideration.<\/li>
I thank you for your attention.<\/li>
May God continue to bless the Federal Republic of Nigeria.<\/li><\/ol>\n","post_title":"Full Speech of President Muhammadu Buhari 2021 Budget Presentation at the National Assembly","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"full-speech-of-president-muhammadu-buhari-2021-budget-presentation-at-the-national-assembly","to_ping":"","pinged":"","post_modified":"2020-10-08 13:21:06","post_modified_gmt":"2020-10-08 13:21:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=437","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
Key capital spending allocations in the 2021 Budget include:<\/li><\/ol>\n\n\n\n
a. Power: N198 billion (inclusive of N150 billion for the Power Sector Recovery Plan);<\/p>\n\n\n\n
b. Works and Housing: N404 billion;<\/p>\n\n\n\n
c. Transportation: N256 billion;<\/p>\n\n\n\n
d. Defence: N121 billion;<\/p>\n\n\n\n
e. Agriculture and Rural Development: N110 billion;<\/p>\n\n\n\n
f. Water Resources: N153 billion;<\/p>\n\n\n\n
g. Industry, Trade and Investment: N51 billion;<\/p>\n\n\n\n
h. Education: N127 billion;<\/p>\n\n\n\n
i. Universal Basic Education Commission: N70 billion;<\/p>\n\n\n\n
j. Health: N132 billion;<\/p>\n\n\n\n
k. Zonal Intervention Projects: N100 billion; and<\/p>\n\n\n\n
l. Niger Delta Development Commission: N64 billion.<\/p>\n\n\n\n
The Ministry of Agriculture and Rural Development will facilitate the integrated development of its sector by promoting crops\u2019 value chains; as well as providing rural roads, water and sanitation, veterinary and pest controls, grazing, food and strategic reserves, and access to inputs and extension services.<\/li>
The 157 percent increase in the capital allocation to the health sector is to enhance the capacity to deliver healthcare services through the procurement of equipment, vaccines and other facilities. Two centres of excellence, as well as one Accident and Emergency Centre, will be equipped in Federal Teaching Hospitals in each geopolitical zone.<\/li>
In addition, numerous Primary Health Care Centres will be equipped and upgraded across the six geopolitical zones. Furthermore, funds have been allocated for the expansion of Midwives Service Scheme in the six geopolitical zones. To enhance occupational safety, funds have been provided for the provision of Personal Protective Equipment for health workers.<\/li>
The Ministry of Education\u2019s capital allocation has been increased by 65 percent to improve the education of our children. Funds have been provided for the provision of scholarship awards to Nigerian students at home and abroad.<\/li>
We have provided funds for the upgrade of security and other infrastructural facilities in our Unity Colleges nationwide. To improve access to education, we have made provision for the establishment of five new Federal Science and Technical Colleges. We have also provided for the payment of allowances to 5,000 teachers under the Federal Teachers Scheme.<\/li>
In line with our commitment to invest in Transportation Infrastructure, capital allocation to the Works and Housing sector is to facilitate the completion of several critical projects in 2021. I have directed the Minister of Finance, Budget and National Planning to provide a detailed breakdown of key infrastructural projects in her subsequent Press Briefing.<\/li>
Key projects for implementation in the Power sector include several Rural Electrification Projects in the 36 States and Abuja, Rural Electrification Access Programme in Federal Universities, the Kaduna LPFO Gas Fired power Plant, the Mambilla Hydro Power Project and the Zungeru Hydropower Project.<\/li>
Provisions have been made for legacy debts owed to local contractors compensation and resettlement of project-affected communities, the Renewable Energy Micro Utility (Solar) project, and the construction of transmission lines and substations nationwide. These project\u2019s implementation is expected to have positive impact on electricity supply nationwide, as well as boost productivity and employment.<\/li>
Projects to be implemented by the Ministry of Water Resources in 2021 include provision of potable water in the North East, construction of irrigation and dams across the country, and the provision of Water, Sanitation and Hygiene facilities.<\/li>
The Ministry of Transportation has earmarked funds for projects such as the Lagos-Ibadan-Kano Line, Abuja-Kaduna Line, Port-Harcourt-Maiduguri Line and Itakpe-Ajaokuta-Warri Line. These projects, when completed, will minimize the cost of transporting people and goods around the country.<\/li>
To maintain the peace in the Niger Delta region for economic and social activities to thrive, the provision of N65 billion for the Presidential Amnesty Programme has been retained in the 2021 Budget. In addition, the sum of N63.51 billion has been appropriated for the Niger Delta Development Commission and N24.27 billion has been provided for the capital projects of the Ministry of Niger Delta Affairs. These allocations should further support the development of the region by facilitating the completion of important ongoing projects, such as the East-West Road.<\/li><\/ol>\n\n\n\n
Government Fiscal Strategy in 2021<\/p>\n\n\n\n
The government is already implementing several measures to overcome our fiscal constraints. In addition to the Strategic Revenue Growth Initiatives, we are leveraging technology and automation, as well as more effective monitoring of Independently Generated Revenues. Our efforts are aimed at addressing revenue leakages and redirecting scarce resources to the poor and vulnerable. These efforts include:<\/li><\/ol>\n\n\n\n
a. Deregulation of the price of petroleum products;<\/p>\n\n\n\n
b. Ongoing verification exercise with IPPIS; and<\/p>\n\n\n\n
c. Implementation of service-based electricity tariffs.<\/p>\n\n\n\n
The new petrol pricing regime has freed up resources that was allocated to subsidise petroleum products. Similarly, the ongoing IPPIS verification exercise has closed gaps that encourage ghost workers or pensioners. The service reflective electricity tariffs will help resolve liquidity crisis in the power sector and make the sector attractive to foreign investment. These reforms have released trillions of Naira for allocation to other priority areas.<\/li>
Distinguished Senators, Honourable Members, permit me to reiterate that the main thrust of our capital spending programme in 2021 is the completion of as many ongoing projects as possible across the country. Accordingly, we have prioritized projects that can be rapidly completed to benefit our people.<\/li>
Distinguished Senators and Honourable Members, I note, with satisfaction, your determination to promptly consider and pass the Petroleum Industry Bill into law. The enactment of this Bill will boost confidence and attract further investments into our oil and gas sector, as well as increase revenues.<\/li>
I fully understand the difficulties many of our people are going through with the implementation of our reform agenda. However, the measures we are implementing are necessary for sustainable public finance, better allocation of our scarce resources and improved public service delivery. As we implement these reforms, social safety nets will be implemented to cushion the effect of the most vulnerable of our citizens as well as business owners.<\/li>
In furtherance of our inclusiveness agenda, the sum of N420 billion has been provided to sustain the Social Investment Programme. N20 billion has also been set aside for the Family Homes Fund, our Social Housing Programme. We have expanded our National Social Register, to include an additional one million Nigerians following the onset of Coronavirus. We recently introduced the N75 billion Survival Fund Programme to support and protect businesses from potential vulnerabilities. Furthermore, the Central Bank of Nigeria is reducing the interest rate on its intervention facilities from 9% to 5% with a 1-year moratorium till 31st March 2021, to provide concessional lending of: . N100 billion to households and small businesses;<\/li><\/ol>\n\n\n\n
a. N100 billion to the healthcare and pharmaceutical industry; and<\/p>\n\n\n\n
b. N1 trillion to large agricultural and manufacturing businesses.<\/p>\n\n\n\n
We urge Nigerian businesses and individuals to make the most of these concessional credit facilities and other such opportunities.<\/li><\/ol>\n\n\n\n
Conclusion<\/p>\n\n\n\n
Mr. Senate President, Mr. Speaker, Distinguished and Honourable Members of the 9th National Assembly; let me use this opportunity to, again, commend your firm commitment towards ensuring a very harmonious and productive relationship with the Executive. It is important to further deepen this relationship in the interest of our people.<\/li>
As you review the 2021 Budget estimates, we believe the legislative process will be expedited to ensure its prompt passage to sustain the restoration of a predictable January \u2013 December fiscal year. In this regard, I have directed all Ministers and Heads of Agencies to be personally available for budget defence.<\/li>
Let me re-emphasize that Nigerians expect that the 2021 Budget will contain only implementable and critical projects, which when completed, will significantly address current structural challenges of the economy, improve the business environment and accelerate economic recovery.<\/li>
May I conclude my remarks by commending the National Assembly for its support in steering our economy during these very challenging times. We remain committed to sustaining this partnership. We believe that as we work together, we will jointly deliver on our joint mandate to our people.<\/li>
It is with great pleasure, therefore, that I lay, before this Distinguished Joint Session of the National Assembly, the 2021 Budget Proposals of the Federal Government of Nigeria, for your consideration.<\/li>
I thank you for your attention.<\/li>
May God continue to bless the Federal Republic of Nigeria.<\/li><\/ol>\n","post_title":"Full Speech of President Muhammadu Buhari 2021 Budget Presentation at the National Assembly","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"full-speech-of-president-muhammadu-buhari-2021-budget-presentation-at-the-national-assembly","to_ping":"","pinged":"","post_modified":"2020-10-08 13:21:06","post_modified_gmt":"2020-10-08 13:21:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/newsspecng.com\/?p=437","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":630},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
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