Business and Economy
Reps Passes 2022 Budget of N17.1 Trillion
Ogechi Okorie
The House of Representatives on Tuesday passed N17,126,873,917,692 as 2022 budget.
The budget was passed by the Green Chamber following the presentation of report by the Chairman, House Committee on Appropriation, Hon. adsbygoogle || []).push({}); js"> Muktar Betara.
The report was considered at the Committee of Supply presided over by the Speaker, Hon. Femi Gbajabiamila and his deputy, Hon. Idris Wase.
According to the Bill passed by the lawmakers authorises the issue from the Consolidated Revenue Fund of the Federation the total sum of N17,126,873,917,692 (Seventeen Trillion, One Hundred and Twenty-Six Billion, Eight Hundred and Seventy-Three Million, Nine Hundred and Seventeen Thousand, Six Hundred and Ninety-Two Naira) only.
N869,667,187,542 (Eight Hundred and Sixty-Nine Billion, Six Hundred and Sixty-Seven Million, One Hundred and Eighty-Seven Thousand, Five Hundred and Forty-Two Naira) only is for Statutory Transfers while N3,879,952,981,550 (Three Trillion, Eight Hundred and Seventy-Nine Billion, Nine Hundred and Fifty-Two Million, Nine Hundred and Eighty-One Thousand, Five Hundred and Fifty Naira) only is for Debt Service.
N6,909,849,788,737 (Six Trillion, Nine Hundred and Nine Billion, Eight Hundred and Forty-Nine Million, Seven Hundred and Eighty-Eight Thousand, Seven Hundred and Thirty-Seven Naira) only is for Recurrent (Non-Debt) Expenditure while the sum of N5,467,403,959,863 (Five Trillion, Four Hundred and Sixty-Seven Billion, Four Hundred and Three Million, Nine Hundred and Fifty-Nine Thousand, Eight Hundred and Sixty-Three Naira) only is for contribution to the Development Fund for Capital Expenditure for the year ending on the 31st day of December, 2022.
According to Chairman committee on Appropriation Hon. Muktar Betara, the report was a result of work done on the submission of estimates by the president.
He observed that the 2022 budget would be the last to be fully implemented by the current administration.
According to him, the report took cognizance of the benchmark estimates and the financial/economic realities of current times.
He earlier urged members to support and approve the recommendations in the spirit of the harmonious execution of projects for the good of Nigeria.
The report was considered clause by clause and passed.
The Green Chamber adjourned plenary till Tuesday, January 18th, 2022 following a motion for adjournment moved by the Leader of the House, Hon. Alhassan Ado-Doguwa
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Business and Economy
Governor Ododo Endorses GOBO Initiative, Empowering Small-Scale Entrepreneurs and Vulnerable Populations
By Abah Benjamin Eneojoh
The Executive Governor of Kogi State, His Excellency Alh Ahmed Usman Ododo has thrown his weight behind the Governor Ododo Business Outreach (GOBO) initiative, a program aimed at uplifting marginalized groups and providing economic opportunities at the community level.
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During a strategic meeting with the Kogi State Forum of Senior Special Assistants in his office on 06-11-2024, the Governor expressed his support for GOBO, which aligns with his vision of inclusive governance.
Launched on October 31, 2024, GOBO has already shown positive impact, with increased visibility and support among petty traders and small businesses. The initiative provides sustainable business avenues for those previously lacking access to financial resources and market opportunities.
Hon. Yahaya Shehu Ahmed, Chairman of the Kogi State Forum of Senior Special Assistants, thanked the Governor for his encouragement and support.
The Governor commended the forum’s dedication to GOBO and its commitment to improving citizens’ quality of life, assuring continued support and encouraging ways to deepen GOBO’s impact across the state.
The forum also presented an award of excellence to former Governor Alhaji Yahaya Adoza Bello, recognizing his contributions to the state’s growth and effective governance , particularly the choice of Gov Ododo and his Deputy.
This development is consistent with research highlighting the importance of government support for entrepreneurship development in Kogi State.
Shehu noted that Small and medium-scale enterprises have significantly contributed to the state’s economic growth, stressing that the GOBO initiative demonstrates the power of grassroots-driven solutions and inclusive growth, marking a step towards sustainable development in Kogi State.
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Business and Economy
Kogi State Government Suspends Mining Activities Over Security Concerns
By Abdulrahman Obaje
The Kogi State Government has suspended all mining activities in the state due to the influx of bandits and negative elements in the sector.
This decision was reached during today’s October 4th, 2024 Executive Council meeting, presided over by Governor Alh.
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Usman Ahmed Ododo in Lokoja the Kogi State Capital.
While briefing News men after the State Executive Council Meeting, the Commissioner for Information and Communication, Hon. Kingsley Fanwo said the Ministry of Solid Minerals and Natural Resources will profile legal mining companies to ensure genuine mining data. This clean-up aims to minimize criminal activities.
He further noted that the State Government would collaborate with federal mines officers and security agencies to enforce strict compliance. “We urge all mining companies to cooperate, as we prioritize security”.
We implore all mining companies to bear with us in this circumstance, as we prioritize security” he said.
The Kogi State Government reassures of its commitment to security and will not condone any form of infiltration or illegal activities.
The suspension has been welcomed by stakeholders, who hope it will address long-standing security concerns in the mining sector in Kogi State.
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Business and Economy
Infrastructure Upgrade: Zenith Bank Apologizes for Disruptions, Assures Customers on Improved Services
by Abdulrahman Obaje
Nigeria’s leading financial institution, Zenith Bank, has reassured its customers of improved services following recent infrastructure upgrades.
In a message posted on Thursday, October 3rd, 2024 the bank apologised for the service disruptions experienced across its e-channels during the upgrade period.
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The bank clarified that the glitches were a result of routine information and technology maintenance, which is essential for optimizing service delivery.
Zenith Bank emphasized its commitment to ensuring 100% uptime, stating that it takes this responsibility “very personally” and continuously allocates resources to maintain uninterrupted service availability.
In the statement, the bank expressed its sincere apologies for any inconvenience caused to customers during the upgrade process, highlighting that the information technology enhancements are designed to improve the quality of service for its esteemed clientele.
The message reads in part: “Dear Valued Customer, We sincerely apologise for the service disruptions you experienced recently on our banking channels. This was due to an information Technology upgrade aimed at improving the quality of service we provide.
“We have made significant progress with the upgrade and you can now perform transactions conveniently with the following Zenith bank Channels:
Your Zenith Bank Debit Card
The Zenith Bank Mobile App
The Zenith bank Internet Banking Platform
Zenith Agents nationwide (Agent Banking)
“You can also visit any of our branches nationwide to perform your transactions
Please direct all enquiries to Zenith Direct on +234 201 278 7000, 0700ZENITHBANK, 0904 085 7000 Or via email at Zenithdirect@zenithbank.com. Thank you for banking with us”
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