General News
Senate passes 2022-2024 MTEF/FSP, okays N13.98trn budget projection for 2022
*Approves USD$57 per barrel oil benchmark, N410/US$1 Exchange rate
The Senate has passed the 2022-2024 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) ahead of the expected presentation of the 2022 Appropriations bill to the National Assembly by President Muhammadu Buhari.
The passage of the 2022-2024 Medium Term Expenditure Framework followed the consideration and exhaustive deliberation of a report by the Joint Committees on Finance; Local and Foreign Debts; Banking, Insurance and other Financial Institutions; Petroleum Resources (Upstream); Downstream Petroleum Sector and Gas.
The Joint Committee report was presented by Senator Solomon Olamilekan Adeola (APC, Lagos West), who chairs the Finance Committee.
The chamber during consideration of the report gave its nod to the Federal Government’s revenue projection of N8.36 trillion; and proposed expenditure of N13.98 trillion.
Accordingly, it also approved the daily crude oil production of 1.88mbpd, 2.23mbpd, and 2.22mbpd for 2022, 2023 and 2024, particularly “in view of average 1.93mbpd over the last 3 years and the fact that a very conservative oil output benchmark has been adopted for the medium term in order to ensure greater budget realism”.
The Senate in its recommendations approved the Benchmark oil price of USD$57 per barrel; adopted the Exchange Rate of N410.15/US$ by the Executive for 2022-2024; and gave its nod to the projected Gross Domestic Product (GDP) growth rate of 4.20%; as well as 13% inflation rate.
In addition, the chamber approved fiscal deficit of N5.62 trillion; new borrowings of N4.89 trillion – an amount which includes Foreign and Domestic borrowing – subject to the provision of details of the borrowing plan to the National Assembly.
The Senate also approved other parameters such as Statutory transfers totaling N613.4 billion; Debt Service estimate of N3.12 trillion; Sinking Fund to the tune of N292 billion; Pension, Gratuities and Retirees Benefits of N567 billion.
Out of the Aggregate Federal Government’s Expenditure of N13.98 trillion, the upper chamber approved the sum of N6.12 trillion for Total Recurrent (Non-debt); N3.47 trillion as Personnel Cost for Ministries, Departments and Agencies (MDAs); N3.26 trillion for Capital Expenditure (exclusive transfers); N350 billion Special Intervention (Recurrent); and N10 billion for Special Intervention (Capital).
The upper chamber in its report recommended that the Fiscal deficit estimate of N5.62 trillion also be sustained due to the Federal Government’s conservative approach to target setting and its determination to improve collection efficiency of major revenue generating agencies.
It further called on the Salaries and Wages Commission to review the salary structure of all Ministries, Departments and Agencies (MDAs), in other to come up with a new salary structure that will reflect the true financial position of the Agencies.
The chamber also demanded a continuous review of the Fiscal Responsibility Act to ensure that all revenues are remitted to the Consolidated Revenue Fund (CRF) as at when due, in order to curtail frivolous deductions and diversion of funds by the MDAs.
It further maintained that all laws relating to mining businesses be reviewed as a matter of urgency, to ensure upward review of rates applied to royalties, ground rent and licenses renewal of all mining companies operating in Nigeria to ensure transparency in the collection of revenue by relevant agencies, as well as recommend stringent sanctions in proposed new laws to address illegal mining.
The Senate amid its recommendations also called on the Nigeria Customs Service to accelerate the process of installing scanners at all ports across the country to curb the issues of smuggling and underpayment of custom duties on imported goods which has resulted in huge loss of revenue to the government.
It also charged the Federal Government to urgently implement the Petroleum Industry Act recently assented to by the President in order to curtail the problems of smuggling and round-tripping of petroleum products imported into the country.
In addition, the chamber recommended that the proposed budget of Government Owned Enterprises (GOEs) be reviewed upward to show the reflection of their capabilities to generate more revenue as a result of the findings of the Joint Committee.
Consequently, it further recommended that the offices of the Accountant General (AGF), Auditor General of the Federation (AuGF) and Fiscal Responsibility Commission be strengthened in the area of staffing and proper funding of its activities to ensure optimal performance of their duties in order to adequately monitor the remittances of all government revenue.
The chamber posited that the Act establishing some MDAs such as – Nigeria Investment Promotion Council (NIPC), National Lottery Trust Fund Act, Bank of Industry Act, Bank of Agriculture Act, Energy Commission Act and Nigeria Nuclear Regulatory Commission – if reviewed and amended as a matter of urgency, would assist to generate more revenue to the coffers of government.
It also recommended that the Federal Government budget be reviewed and purged of some agencies with demonstrated capacity to stand on their own without any recourse to Federal Government of Nigeria budget.
The chamber gave example of such agencies to include the National Agency for Food and Drug Administration and Control (NAFDAC) and Nigerian College of Aviation Technology, Zaria.
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…Church leaders accuse Welsh counterparts of “spiritual decadence” and “abandonment of faith”
The Church of Nigeria (Anglican Communion) has issued a forceful condemnation of the election of Rt. Rev. Cherry Vann, an openly lesbian cleric, as the Archbishop of Wales. The move is the latest in a series of developments that have deepened divisions within the global Anglican Communion over sexuality and doctrine.
In a statement from Primate The Most Rev’d Henry Ndukuba, the church denounced the election as a “serious departure from biblical teaching” and a sign of “spiritual decadence” and “an outright abandonment of the faith once delivered to the saints.”
Archbishop Ndukuba warned that Bishop Vann’s elevation compromises the Anglican Church’s global mission and could obstruct evangelism. He compared the situation to the controversial tenure of Most Rev. Katherine Jefferts Schori, former Presiding Bishop of the U.S. Episcopal Church, who also faced intense criticism from conservative Anglicans for her progressive views.
The Primate accused Bishop Vann of being complicit in the “ongoing crisis” around same-sex issues, stating that the election is a “clear revelation that many who claim to be members of the body of Christ cannot endure sound doctrine” (2 Timothy 4:3–4).
The Church of Nigeria called on Anglicans worldwide to reject “rebels” and “apostates” and to instead support conservative bodies like the Global Anglican Future Conference (GAFCON).
“The Church of Nigeria (Anglican Communion) condemns, unequivocally rejects, and will not recognize the election of Rt. Rev. Cherry Vann as Archbishop of Wales,” Ndukuba declared. He concluded with a solemn warning that without repentance, the Church in Wales risks losing “complete relevance” and its leaders will face judgment.
The Primate of the Church of Nigeria Anglican Communion, Most Reverend Henry Ndukuba, has called on political leaders to prioritize the welfare of citizens.
During a recent church service in Abuja, Ndukuba noted that many Nigerians are struggling with challenges brought on by the global economic downturn. He urged state and local governments to implement new initiatives to lessen the impact on their communities.
The Primate also stressed that the federal government must effectively monitor its programs to ensure that Nigerians fully benefit from the nation’s democratic gains. He argued that if the current administration can effectively tackle corruption, the country would significantly benefit from the economic policies of President Tinubu’s government.
Ndukuba concluded by asking the congregation to continue praying for those in authority, remain committed to national unity, and show love and support for the less privileged. He also tasked the newly inducted members of the Church Mothers’ Guild with aggressively spreading the gospel.
Senior Pastor of Dunamis International Gospel Centre, Dr. Paul Enenche, has expressed deep concern about the current situation in Nigeria.
Enenche stated that the nation is under an evil spell due to the economic hardship affecting the country. He described Nigeria as being covered by a “blanket of sorcery and darkness,” leading many citizens to endure poverty and hardship in silence.
“There’s a blanket of sorcery and darkness over this nation—an evil spell making people tolerate what should provoke outrage,” he wrote.
In a post on his official X account on Thursday, the cleric highlighted the economic struggles faced by many Nigerians, noting that an increasing number of church members now line up after services not for spiritual counselling or prayer, but to help with basic needs such as rent, school fees, food, and medical bills.
“People are suffering. Pastors are exhausted. Members now queue after service not for prayer, but for assistance,” he lamented.
He also criticised political leaders for their insensitivity and failure to address the dire situation across the country.
“Yet, the leaders act as though nothing is wrong. This is not normal—it is witchcraft. It is a spell of patience in captivity, leading to a demonic tolerance of suffering.”
Calling for divine intervention, Enenche declared, “Let every evil spell over this land be broken! Let those misruling with arrogance and mocking the people’s pain face divine judgment. They shall not see the celebration of their wickedness.”
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