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The Federal Executive Council (FEC) has projected a N13.08 trillion budget for 2021.

Disclosing this to State House Correspondents after the weekly virtual FEC meeting presided over by President Muhammadu Buhari, the Minister for Finance, Budget and National Planning, Mrs. Zainab Ahmed, also said the oil benchmark has been pegged at $40 per barrel.

The Minister, who was accompanied by the Minister of State for Budget and National Planning Clement Agba; the Minister for Information and Culture Alhaji Lai Mohammed; and Director-General of the Budget Office, Ben Akabueze, also said the projected capital expenditure for the year is projected at N2.083 trillion.

Other indices projected to tune the 2021 budget include oil production at 1.86 million barrels per day, including 400,000 barrels of condensate; Gross Domestic Product (GDP) growth target at 3%; inflation target at 11.95%; and foreign exchange set at N379 to one dollar.

The Minister further informed the 2021 budget has a N7.89 trillion revenue projection with a N4.489 trillion fiscal deficit on the proposed N13.08 trillion budget.

She said her Ministry also reported the performance of the 2020 Budget from the beginning to July, to the Council, stating that the revenue performance was at 68% while expenditure stood at 92.3%, as at July of this year.

Speaking about targets of the 2021 proposed budget, Ahmed said the administration hoped to use the projections to stimulate the economy, create jobs and infrastructure, among other economic goals.

“We have total aggregate revenue of N7.89 trillion and also an aggregate expenditure of N13.08 trillion for 2021.

“There’s a fiscal deficit of N4.489 trillion, this represents 3.64%, slightly above what is required by the Fiscal Responsibility Act of 3% and also to report that the total capital expenditure that is projected in the Budget is 29% of the aggregate expenditure.

“This is an improvement over the 24% that we had in the 2020 Budget, but slightly below the 30% that we targeted in the economic recovery.

“Just to clarify that the 1.86 million barrels per day crude oil production includes 400,000 condensate, so we have complied with the OPEC quota, which is placed at about 1.5 million barrels per day. So the 1.46 is in meeting with the OPEC quota.

“This is important to us because as you report, if you just report the 1.86, some members of the OPEC appear to think that we are exceeding OPEC quota, whereas we are reporting oil and condensate,” she said.

The Federal Executive Council (FEC) has projected a N13.08 trillion budget for 2021.

Disclosing this to State House Correspondents after the weekly virtual FEC meeting presided over by President Muhammadu Buhari, the Minister for Finance, Budget and National Planning, Mrs. Zainab Ahmed, also said the oil benchmark has been pegged at $40 per barrel.

The Minister, who was accompanied by the Minister of State for Budget and National Planning Clement Agba; the Minister for Information and Culture Alhaji Lai Mohammed; and Director-General of the Budget Office, Ben Akabueze, also said the projected capital expenditure for the year is projected at N2.083 trillion.

Other indices projected to tune the 2021 budget include oil production at 1.86 million barrels per day, including 400,000 barrels of condensate; Gross Domestic Product (GDP) growth target at 3%; inflation target at 11.95%; and foreign exchange set at N379 to one dollar.

The Minister further informed the 2021 budget has a N7.89 trillion revenue projection with a N4.489 trillion fiscal deficit on the proposed N13.08 trillion budget.

She said her Ministry also reported the performance of the 2020 Budget from the beginning to July, to the Council, stating that the revenue performance was at 68% while expenditure stood at 92.3%, as at July of this year.

Speaking about targets of the 2021 proposed budget, Ahmed said the administration hoped to use the projections to stimulate the economy, create jobs and infrastructure, among other economic goals.

“We have total aggregate revenue of N7.89 trillion and also an aggregate expenditure of N13.08 trillion for 2021.

“There’s a fiscal deficit of N4.489 trillion, this represents 3.64%, slightly above what is required by the Fiscal Responsibility Act of 3% and also to report that the total capital expenditure that is projected in the Budget is 29% of the aggregate expenditure.

“This is an improvement over the 24% that we had in the 2020 Budget, but slightly below the 30% that we targeted in the economic recovery.

“Just to clarify that the 1.86 million barrels per day crude oil production includes 400,000 condensate, so we have complied with the OPEC quota, which is placed at about 1.5 million barrels per day. So the 1.46 is in meeting with the OPEC quota.

“This is important to us because as you report, if you just report the 1.86, some members of the OPEC appear to think that we are exceeding OPEC quota, whereas we are reporting oil and condensate,” she said.

The Minister of Labour and Employment, Dr Chris Ngige , says the Academic Staff Union of Universities would soon suspend its strike .

Ngige gave the hint during an interview on Channels Television ’ s Politics aired and monitored by our correspondent .

He explained that the Ministries of Finance, Education, Labour and Employment and the Office of the Accountant General of the Federation will meet with ASUU to resolve the disagreement on the controversial Integrated Payroll and Personnel Information System .

But Ngige said the FG was ready for an integrity test of the University Transparency and Accountability Solution developed as an alternative to IPPIS by the varsity lecturers .

He noted that FG would consider the UTAS if it addresses the shortcomings identified in IPPIS .

He said , “ The issue of ASUU will soon come to an end. Two reasons – ASUU have called the Federal Government, represented by Finance and the Accountant- General Office and their direct employers , the Ministry of Education to come for the test .

“ We are ready to do that . After the independence day celebration, the four ministries and agencies involved will gather together with ASUU . We will look at the UTAS . If there are shortcomings with IPPIS as complained which UTAS have corrected . What ’ s wrong about it? It is software , we will look at it .

“ Secondly, ASUU members have been collecting their money since COVID- 19 came and I wrote a memo to Mr president that ASUU members are still Nigerians . Even the members , have families that they care for . By upper week, we are going to arrange for this demonstration . ”

Punch

Organised Labour represented by the Nigeria Labour Congress and Trade Union Congress has given reasons for shelving its planned nationwide strike and protests.

It made this known in a joint communique obtained by news correspondent .

The Communique was titled , ‘ Text of the joint communique on the resolution of trade dispute between the Federal and the organised Labour represented by the Nigeria Labour Congress ( NLC ) and Trade Union Congress (TUC) at the State House Banquet Hall on September 27 ’ .

On behalf of organised labour , the communique was signed by NLC President Ayuba Wabba ; TUC President Quadri Olaleye; Secretary -General NLC , Emmanuel Ugboaja ; Secretary – General TUC Musa Lawal Ozigi ; NUPENG President Williams Akporeha ; PENGASSAN President Festus Osifo; President NUEE Martin Uzoegwu and President , SSAEAC Chris N. Okonkwo .

According to the labour leaders , they considered the impact of COVID- 19 before agreeing to shelve the industrial action .

They also noted that the Federal Government explained to them the state of the economy and the drive behind the recent cost- reflective Electricity Tariff adjustments and deregulation of the downstream sector of the Petroleum Industry .

Part of the communique read , “ Recognising the public outcry and protest over the recent Federal Government twin policies on Electricity Tariff Reform and full implementation of deregulation of the downstream sector of the Nigerian Oil and Gas Industry resulting in the planned nationwide industrial action by Organised Labour ;

“ Bearing in mind the spiral and negative impact of COVID- 19 pandemic on world economy ,

“ Further bearing in mind that due to impact of COVID- 19 pandemic the world is undergoing socio- economic transition which has affected price stability, sustainability of enterprises , employment , and other socio-economic indices ;

“ Acknowledging that the spiral and negative impact of COVID- 19 pandemic on the global economy has given rise to the need for a new socio-economic order ;

“ Recognising the need to sustain enterprises for retention and creation of jobs as well as sustainable growth and development;

“ Acknowledging the need for social concertation between the Federal Government and workers ’ representatives , namely the two Labour Centres – The NLC and TUC;

“ To aid in the dialogue and communication , the Federal Government side made presentations to show the state of economy and the drive behind the recent cost– reflective Electricity Tariff adjustments and deregulation of the downstream sector of the Petroleum Industry ;

Punch

The Nigerian Electricity Regulatory Commission, NERC, has finally issued an order suspending the September 1, 2020 hike in electricity tariff for two weeks

This is in line with the agreement reached with the organised Labour on the suspension of strike over the hike in electricity tariff and increase in pump price of petrol Sunday night.

NERC handed the order to the 11 electricity Distribution Companies, DISCOs, in the country to suspend the recent hike in tariff.

The suspension of the hike in tariff for 14 days in the first instance is to enable wider consultations between the Government and labour with a view to reaching a compromise and resolution of the contending issues involved.

According to the NERC, the tariff suspension will be from September 28, 2020 to October 2, 2020.

The Order, No. NERC/209/2020, with the title: “NERC Order on suspension of the Multi Year Tariff Order 2020 for the electricity distribution licensees, addressed to DISCOs was signed by the NERC Chairman, James Momoh; and the Commissioner, Legal, Licensing and Compliance, Dafe Akpeneye.

Vanguard

The Chairman , Independent Corrupt Practices and other Related Offences Commission , Prof Bolaji Owasanoye , said the agency has discovered N2 . 67 billion meant for the school feeding programme in private accounts.

The agency , he added , also found over N2 . 5 billion diverted by a deceased worker with the ministry of agriculture , noting that 18 buildings , 12 business premises, and 25 plots of land , were also recovered in the ministry .

Owasanoye disclosed this in Abuja on Monday , at the second National Summit on diminishing corruption in the public sector , which was organised in collaboration with the Office of the Secretary of the Government of the Federation.

He stated , “We observed that transfers to sub – TSA were to prevent disbursement from being monitored .
Nevertheless, we discovered payments to some federal colleges for school feeding in the sum of N 2 . 67 billion during lockdown when the children are not in school , and some of the money ended up in personal accounts. We have commenced investigations into this finding . ”

The ICPC chairman also said under its 2020 constituency and executive projects tracking initiative , 722 projects with a threshold of N100 million (490 ZiP and 232 executive ) were tracked across 16 states .

Scores of workers , students , traders , and residents trooped out in Ibadan to protest against the hike in the price of petrol and other policies of the Federal Government.

The workers , who gathered at the Agodi Gate area of Ibadan , were led during the peaceful protest by human rights activist , Femi Aborisade , who is the Vice – Chairman of the Alliance on Surviving COVID- 19 and Beyond; and the National Coordinator of All Workers Convergence, Andrew Emelieze among other unionists .

The protesters , who were armed with placards condemning the Federal Government and its policies, said Nigerians had been further impoverished by the recent hike in the electricity tariff and petrol pump price.

They said corruption by government officials made life unbearable for the masses , criticising the lack of adequate funding of the education and health sectors .

Aborisade said ASCAB was against the agreement between the NLC , TUC, and the Federal Government, saying Labour leaders ought to have briefed workers before taking that decision .

He said the Federal Government should follow the rule of law by obeying the Federal High Court judgment of 2016 against fuel price and electricity tariff hikes.

He said , ” Federal Government must reverse the electricity tariff increment and fuel pump price hike in the interest of the masses . ”

Punch

The Nigeria Labour Congress and the Trade Union Congress have suspended the strike scheduled to commence today ( Monday ) .

This followed an agreement reached with the Federal Government at a meeting which started at 8 . 30 pm on Sunday and ended at 2 :50 am this morning .

After exhaustive deliberations on the issues raised by the labour centres , the meeting agreed to suspend the application of the cost- reflective electricity tariff adjustments for two weeks .

The Minister of Labour and Employment, Chris Ngige , read the five- page communique signed by the representatives of the government and labour .

The NLC President , Ayuba Wabba ; and his Trade Union Congress counterpart , Quadri Olaleye, amongst others signed on behalf of Organised Labour while the Minister of Labour , Chris Ngige ; Minister of State Petroleum , Timipre Silva ; Minister of State Labour and Employment, Festus Keyamo ( SAN ); Minister of Information , Lai Mohammed ; and the Secretary to Government of the Federation , Boss Mustapha and others, signed on behalf of the government .

Olaleye confirmed the development in an interview with newsmen.

He said , “ Definitely correct. We just left a press conference . We signed a document to suspend the action for two weeks for the government to implement those things that we agreed in the agreement . So , we are suspending for two weeks .

“ We don ’ t need a notice again to re -convene if there is a need to do that . ”

The parties agreed to set up a technical committee comprising Ministries, Departments, Agencies, NLC and TUC.

It would work for a duration of two weeks effective September 28 , to examine the justifications for the new policy “ in view of the need for the validation of the basis for the new cost- reflective tariff as a result of the conflicting information from the fields which appeared different from the data presented to justify the new policy by NERC ; metering deployment , challenges , timeline for massive rollout . ”

The members of the committee include the Minister of State Labour and Employment, Festus Keyamo ( SAN ) as Chairman ; Minister of State Power , Godwin Jedy – Agba ; Chairman , National Electricity Regulatory Commission , James Momoh; Special Assistant to the President on Infrastructure, Ahmad Zakari as the Secretary .

Other members are Onoho’ Omhen Ebhohimhen , Joe Ajaero ( NLC ) , Chris Okonkwo (TUC) and a representative of electricity distribution companies .

The committee ’ s terms of reference are to examine the justification for the new policy on cost- reflective electricity tariff adjustments ; to look at the different DISCOs and their different electricity tariff vis – à – vis NERC order and mandate ; examine and advise government on the issues that have hindered the deployment of the 6 million meters, among others.

The House of Representatives has waded into the crisis between the Federal Government and the organised labour over the recent hikes in the pump price of Premium Motor Spirit (petrol ) and electricity tariff .

The workers , however , insisted on starting industrial action on Monday until their demands are met .

The Nigerian Labour Congress and the Trade Union Congress had jointly declared their readiness to embark on a nationwide strike and protests to compel the Federal Government to reverse the hikes. The hikes had generated nationwide criticism .

The Speaker , Femi Gbajabiamila , met with President of the NLC , Ayuba Wabba ; and his TUC counterpart , Quadri Olaleye, among others.

Also at the meeting were the Deputy Majority Leader , Peter Akpatason ; and Chairman , House Committee on Labour , Ali Muhammed.

Emerging from the meeting, Wabba dismissed the various court rulings barring the workers from industrial action .

He said , “ We have had a useful discussion with the leadership of the House of Representatives . We have shared our concerns and challenges with him (Gbajabiamila ) , especially the very challenges of the implication of the hike in the tariff of electricity and the ( petrol ) pump price. We also told him how the discussions with the Federal Government went and how the meeting was adjourned.

“ He has also promised to try to intervene at his own level , to see to it that we don ’ t inflict more pains on Nigerians . And in the course of the discussion , we have also realised that the House of Reps has done a lot on this issue, including recommendation to government which we have shared mutually.

“ But the bottom line is that we want this burden that has now been shifted to Nigerians as consumers to also be lifted so that we can have a decent life . ”

The NLC boss said , “ Are you not aware also that there is a court judgment stopping the tariff ? This is a valid judgment from the High Court stopping the tariff increase and that judgment is still subsisting . Are you not aware of that ? And on the issue of the court judgment , we have not been served.

“ As I said , in good faith , you ’ ll recall that we were on the negotiation table up till late Thursday night . Therefore , our expectation is that we should be able to , in good faith , continue to dialogue , not to try to ambush because we have not received the order as of today and we don ’ t know the details of any order. Clearly speaking, we cannot speak on something that is not before us .

However, The Speaker of the House of Representatives , Femi Gbajabiamila , met with Vice President Yemi Osinbajo, over the planned industrial action and protests by labour unions scheduled to commence on Monday .

Osinbajo and Gbajabiamila were joined at the meeting by the Secretary to the Government of the Federation , Boss Mustapha .

The meeting, which was held at the official residence of the Vice- President inside the Presidential Villa, Abuja , came a few minutes after Gbajabiamila had met with labour leaders at the National Assembly complex .

Although his meeting with the labour leaders ended in a deadlock, Gbajabiamila , at the end of his meeting with Osinbajo and Mustapha , expressed optimism that the industrial action will be averted .

He wrote on his Twitter handle , @ femigbaja , “ After my meeting with Labour I met with the VP and SGF .

“ We had fruitful discussions and I am hopeful tomorrow ’ s strike will be averted . ”

Punch

The Federal Government has warned all federal civil servants on Salary Grade Level 12 and above , as well as those on essential services , to be at work from Monday despite the industrial action declared by labour unions .

The Head of the Civil Service of the Federation, Folasade Yemi – Esan , in a circular dated September 25 , 2020 , asked those civil servants still working to shun the industrial action .

The circular which was addressed to all ministers , permanent secretaries , as well as heads of government ’ s agencies and parastatals , was titled “ The Nigerian labour unions planned industrial action ” .

It read , “ Sequel to the call by the labour unions for workers to embark on industrial action from Monday , September 28 , 2020 , the Office of the Head of Civil Service of the Federation wishes to inform all public servants that the Federal Government team is currently engaging with the labour unions with a view to resolving all contentious issues and avert the planned industrial action .

“ Furthermore, it is important to note that there is a court injunction granted by the National Industrial Court (Suit No . NICN /ABJ / 253/ 2020 ) on September 24 , 2020 , restraining the Nigeria Labour Congress and Trade Union Congress of Nigeria from embarking on any tom of industrial action pending the hearing and determination of a motion on notice .

“ Accordingly , all officers on Grade Level 12 and above and those on essential services are hereby strongly advised to be at work to perform their official duties .

“ Permanent secretaries and chief executive officers are therefore enjoined to bring the contents of this circular to the attention of all concerned officers and ensure strict compliance . ”

Punch