Tinubu: Those Alleging Malicious Embellishment of Budget Didn’t Understand the Arithmetic

*Says nation’s security, economic challenges over soon

*Confident problems can’t defeat Nigeria
*NEC discloses FCT, states owe FG N1.7trn for budget support facility
*Shettima boasts govt will leave legacy of prosperity, opportunity for all

Deji Elumoye in Abuja

President Bola Tinubu, late last night, reacted for the first time to allegation of budget padding by Senator Abdul Ningi from Bauchi State, and concluded that those alleging malicious embellishment of the 2024 financial estimate didn’t understand its arithmetic.
Tinubu said he knew the arithmetic of the numbers that he brought to the Senate, when he presented the 2024 budget and also knew what he got back, when it was passed.

The president, however, assured Nigerians that the current security and economic challenges facing the country would soon become a thing of the past, confident the nation would surmount her challenges.
In a related development, the National Economic Council (NEC) rose from its 140th monthly meeting in Abuja, yesterday, with a revelation that all the 36 states of the federation and the Federal Capital Territory (FCT) owed the federal government a total of N1.718 trillion from budget support facility extended to them during the administration of former President Muhammadu Buhari.
This was as Vice-President  Kashim Shettima has hinted at the firm resolve of the renewed hope administration of President Tinubu to leave a legacy of prosperity and opportunity for all Nigerians.

Speaking at a special Iftar with the President of the Senate, Senator Godswill Akpabio, and other  senators at the State House, Abuja, the president addressed the lingering allegation of budget padding for the first time since the news became topical.
Appreciating the Senate for its works, particularly the passage of the Students Loan Bill, the president told the leadership of the Senate that the integrity of the National Assembly must remain intact and that his administration would always encourage cooperation for the advancement of the nation.
“I know the arithmetic of the budget and the numbers that I brought to the National Assembly, and I know what numbers came back. I appreciate all of you for the expeditious handling of the budget. Thank you very much.

“Those who are talking about malicious embellishment in the budget; they did not understand the arithmetic and did not refer to the baseline of what I brought. But your integrity is intact.  
“I am grateful for what you have been doing. The natural challenge we are facing will be over. On the current economic difficulty, we are about turning the corner.
“Our revenue has improved. All we have to do is to control expenditure and manage ourselves better. Light is at the end of the tunnel, and Nigerians will soon smile again,” the President affirmed.
Reechoing his position that challenges would not defeat Nigeria, he said, “The challenges of insecurity will be over, they can’t defeat us, we have to rescue our country.

“It’s in this freedom and strong determination that we believe we can bring about prosperity to everyone of us. We’re entitled to it and definitely, I assure you, you will partake in the essence of the prosperity.”
According to a statement by the Special Adviser to the president on Media and Publicity, Ajuri Ngelale, Tinubu said, “Yes, we are definitely challenged.
“The security challenges around us, our armed forces are trying, but we will not allow them to undermine the integrity and the value of our armed forces and the leadership of the armed forces.

“We will continue to encourage and fight for our sovereignty, our individual right to exist, banish poverty from our society.
“The national challenge that we face will be over, the economic challenge, we’re about turning the corner. Our revenue is improving and you can see it reflected in the sub-nationals.
“All we have to do is… and manage ourselves much better. I know you share bread without butter, maybe time around we’ll put butter beside your bread.
Earlier, Akpabio, who led members of the red chamber of the National Assembly to the State House Banquet Hall for the fourth in the series of the special Iftar, expressed the commitment of lawmakers towards ensuring the Renewed Hope Agenda succeeds.

NEC: FCT, 36 States Owe FG N1.7trn for Budget Support Facility

The National Economic Council (NEC), yesterday, at its monthly meeting in Abuja, revealed that all the 36 states of the federation and the Federal Capital Territory (FCT) owed the federal government a total sum of N1.718 trillion from budget support facility extended to them during the administration of former President Muhammadu Buhari.
Buhari had in 2021 approved in tranches the budget support facility to assist the states and FCT meet their pending financial obligations including payment of workers’ salaries.

According to a release issued  by the Media Assistant to the Vice President, Stanley Nkwocha, the Office of the Accountant General of the Federation in its presentation to the virtual NEC meeting presided over by the vice-president and attended by the governors and FCT Minister, stated that outstanding liability of the states and FCT from the budget support facility stood at N1,718,705,566,436.25 as at March 21, 2024.
It gave the breakdown of the debt being owed the federal government to include N49,105,873,326.75 by the FCT and N49,105,873,326.75 by each of the 36 states of the federation bringing the total outstanding liability at N1,718,705,566,436.25.

In another presentation by the Secretary of NEC, Mr Nebeolisa Anako, gave an update on establishment of state police, which indicated that reports had been received from 16 states backing the establishment of state police while the remaining 20 states were yet to send in their report.
All states across the country expressed their support for the establishment of state police and  recommended changes in the constitution and the current policing structure to enable the operationalisation of the initiative.
While noting the presentation, Shettima observed that the rate of submissions by the states were not impressive and urged states yet to make inputs to expedite action to enable robust deliberations on the subject-matter at the next Council meeting.

Earlier, he had declared the resolve of the renewed hope administration of Tinubu to leave a legacy of prosperity and opportunity for all Nigerians.
He told the governors to nominate persons to represent each geo-political zone at the zonal level and focal persons to lead the implementation of the programme in their respective states.
He assured them that as the scheme becomes operational in the coming weeks, implementation across the country would be diligent, committed and forthright.
Shettima boasted that the administration would not rest on its oars until the citizens began to bask in the opportunities they were promised, noting that it was the reason the government prioritised skill acquisition and job creation.

He specifically noted that prioritising whatever offers Nigerians a means to earn a living with dignity were part of President Tinubu’s eight-point agenda.
“But two things are clear: one, we won’t ever regret paving the way for the acquisition of skills that meet the needs of the global markets. Two, our actions today will shape the economic landscape of tomorrow, and so it’s incumbent upon us to ensure that we leave a legacy of prosperity and opportunity for all Nigerians.
“When we empower entrepreneurs and small business owners, we unlock the potential for innovation, job creation, and economic growth.
“By providing access to financing, training, and mentorship programmes, we unleash the entrepreneurial spirit that lies within every Nigerian, catalysing a wave of economic prosperity that benefits us all.

“We cannot achieve this without inclusivity and equitable access to opportunities. This is the ladder we must offer to every disadvantaged citizen.”
Shettima noted that the government had “moved beyond mere deliberations to the implementation phase” and it was actively pursuing its “short-term goals en route to achieving our medium-term and long-term strategies.
“My confidence in our ability to fix our nation stems from the unity of purpose this council has demonstrated. We have rejected binary thinking, resisted divisions, and relegated self-interest in favour of a shared vision for progress.”

The vice-president observed, however, that despite the interventions made so far to prevent natural disasters, “to combat crude oil theft in the Niger Delta, to alleviate the short-term inflationary impacts of our economic-saving decisions, to mitigate environmental damage, and to curb revenue loss,” the efforts would be useless to the citizens unless “job creation and skill development at every corner of the nation” were prioritised.
Noting that it was not the best of times to be in office, Shettima implored the governors and other council members to remain constant in executing  initiatives that would help wriggle the citizens out of their present condition.

“This is a delicate period to occupy offices like ours. We cannot remind ourselves enough that we have come at a time that tests the depth of our leadership and demands our most rational wisdom to make a difference.
“Your Excellencies, distinguished ladies and gentlemen, we must remain consistent in implementing the initiatives that alleviate the suffering of our citizens and be accountable in doing so.
“We must also ensure that interventions we deploy are non-discriminatory and favour all stakeholders, with no part of our communities or nation left lagging,” he stated.

NEC also endorsed the implementation of the $617.7 million Investment in Digital and Creative Enterprises (i-DICE) programme in the 36 states of the federation and the FCT.
In his presentation on the i-DICE programme, the Executive Director in charge of SMES at the Bank of Industry, Mr Shekarau Omar, said the i-DICE programme, a special intervention by government, aimed to deliver on the promise by the Tinubu administration to create millions of jobs in the technology space.
Omar explained that the programme was in support of government’s agenda to create more sustainable jobs, diversify the economy and equip digital and creative incubation hubs/innovation centers across the country.

He listed African Development Bank (AfDB), the French Development Agency (AFD) and the Islamic Development Bank (IsDB) among organisations that would fund the programme, giving a breakdown of how the funds would be sourced.
This was: AfDB, $170million; IsDB, $70 million; AFD, $116 million;  Bank of Industry (BoI) on behalf of federal government of Nigeria (FGN), $45.50 million; Fund Manager (For Equity Fund only), $8.70 million, and private investors, $205 million.
On the impact of the programme, Omar said 1,269,757 youths would be trained and certified in ICT skills, with at least 25,000 youths trained in each state of the federation and the FCT.

He noted that while at least 100,000 jobs would be created per state, about 5,581,231 indirect jobs would be created through i-DICE interventions nationwide.
Other highlights of the  NEC meeting included update on Excess crude account (ECA) $473,754.57, Stabilisation Account N33,808,342,662.88, Current Balance of Natural Resources N113,925,600,918.68.
On the request of the vice-president and Chairman of Council, Governor Hope Uzodinma of Imo State, presented an abridged version of its report on crude oil theft prevention and control on behalf of the NEC ad hoc Committee.

Uzodinma said the committee met and had far-reaching deliberations and deployed appropriate technologies for data collection. Full report to be tendered at next NEC.