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2022 Budget: FG Allocates ₦100 Billion For 2023 Elections; Seeks Loans To Fund Deficit

2022 Budget

In readiness for the 2023 general elections in the country, the Federal Government has earmarked the sum of N100 billion in the 2022 budget to cater for the nationwide exercise. This was revealed as President Muhammadu Buhari prepares to present the 2022 Appropriation Bill before a joint session of the National Assembly tomorrow, Thursday, October 7, 2021.

In some reports from the House of Representatives where the revised 2022-2024 Medium Term Expenditure Framework (MTEF) was submitted for approval, the budget for the 2022 fiscal year was reviewed upwards from N13.98 trillion to N16.45 trillion – indicating an additional N2.47 trillion.

The Green Chamber, it should be recalled, had already approved the initial MTEF which had an expenditure sum of N13.98 trillion for the 2022 fiscal year. However, following a letter from Mr President to the Speaker of the House, Femi Gbajabiamila, a fresh approval was needed.

In the letter dated Saturday, October 2, 2021, the president explained the reason for seeking a fresh approval as there had been an upward review of the MTEF to reflect the new fiscal terms in the Petroleum Industry Act (PIA) 2021, as well as other critical expenditures in the 2022 Budget.

2022 Budget

To put it in perspective, the MTEF is an annual, rolling three-year-expenditure planning that sets out the medium-term expenditure priorities and hard budget constraints against which sector plans can be developed and refined. It also contains outcome criteria for the purpose of performance monitoring.

Also, the federal government, through the Minister of Finance, Budget, and National Planning, Mrs. Zainab Ahmed, has revealed that the budget deficit in the proposed 2022 Appropriation Bill will be financed through loans. She indicated this at the end of the weekly virtual Federal Executive Council (FEC) meeting earlier today while interacting with newsmen.

Mrs. Ahmed said while the FEC had approved the proposed 2022 Budget of N16.39 trillion, part of the budget will be funded through local and eternal loans as most of the administration’s legacy projects captured in the budget can not be achieved with just proceeds from exports and Internally Generated Revenues (IGRs).

She said:

“If we just depend on the revenues that we get, even though our revenues have increased, the operational expenditure of government, including salaries and other overheads, is barely covered or swallowed up by the revenue.

“So, we need to borrow to be able to build these projects that will ensure that we’re able to develop on a sustainable basis. Nigeria’s borrowing has been of great concern and has elicited a lot of discussions, but if you look at the total size of the borrowing, it is still within healthy and sustainable limits. As of July 2021, the total borrowing is 23% of GDP.”

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Even with 10 million votes, Obi still wouldn’t have won the 2023 Elections — Lai Mohammed

Lekki Toll Gate

Former Minister of Information and Culture, Lai Mohammed, has insisted that Labour Party presidential candidate Peter Obi would not have won the 2023 presidential election even if he had secured 10 million votes.

Mohammed explained this while appearing on Edmund Obilo’s State Affairs Podcast, that Obi still could not get “one-quarter of votes cast in 25 states,” a constitutional requirement for winning the presidency.

“Even if Obi had got 10million votes, he wouldn’t have won. This is because he still could not get one-quarter of the votes cast in 25 states. It is even on record that he could not provide agents at about 40,000 polling units,” the ex-minister said.

Speaking on factors that shaped the 2023 election, especially in Lagos state, Mohammed said, “For the first time in the history of politics in Nigeria, ethnicity and religion played a very frontal role.”

He added that the #EndSARS protests had an impact, particularly in Lagos, where many youths “wanted a pound of flesh,” which did not help the APC or Bola Tinubu.

Mohammed further emphasized the difference between presidential elections and governorship or National Assembly contests.

“I am of the belief that the presidential elections are not as personal as the governorships or national assemblies. In presidential elections, a man might not be affiliated with any of the candidates. But when it comes to governorships, it is particular and peculiar because the candidate lives in the state,” he said.

On Tinubu’s leadership, Mohammed stated that the president does not withdraw support from allies after electoral defeats.

“Asiwaju is not the kind of person who will drop his support for you because you have lost the election. No, he will still encourage you,” he said, adding that Tinubu has often been underestimated due to his warm and charismatic personality.

“He is strategic and really understands Nigerian politics better than anybody you might think of,” Mohammed said.

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Celebs

Ayra Starr’s Much Anticipated Album To Drop in 2026

Ayra Starr has sparked a whirlwind of anticipation across the global music landscape. Following her meteoric rise, the Mavin Records superstar and Roc Nation signee has stirred excitement among fans by hinting at her forthcoming project.

Featured in Spotify’s “Our Frequency” zine issue 033, the ‘Celestial Being’ shared insights into her personal and professional aspirations, including a tease that her next album could land in 2026. This disclosure emerged within Spotify’s platform dedicated to celebrating Black artists and their creative narratives, with the recent edition spotlighting Starr’s journey of growth and artistic evolution.

Spotify’s “Our Frequency” initiative offers artists a space to reveal intimate details about their lives and craft. In the Spotify feature, Ayra Starr reflected on her formative years and how diverse environments shaped her distinctive sound and personality.

The 23-year-old drew interesting parallels between cultures, noting that, “Growing up in Benin and Nigeria, it was two different vibes.” She likened the energy of Nigeria’s commercial hub to a global city: “Lagos is almost like New York.”

In stark contrast, the 2026 Grammy nominee described her experience in the Benin Republic: “Benin Republic has more like a beach vibe. Everywhere is, like, calm. Everybody is quiet, so I can’t put it into, like, a few words. It’s made me who I am.”

It was within this context of personal evolution that Ayra Starr dropped the major album news, offering insight into her 2026 goals: “In 2026, I’m looking forward to learning how to cook more known Nigerian food, and my album, Amen.”

This deliberate pacing suggests a strategic shift towards quality control following her management deal with Roc Nation in July 2025, which handles her global brand strategy and touring

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Atiku urges the Senate to amend electoral act to prevent 2027 election rigging

Atiku

Former Vice President Atiku Abubakar has called on the Nigerian Senate to urgently review and amend the Electoral Act 2022, warning that loopholes in the law contributed to alleged irregularities during the 2023 general elections.

In a statement posted on his Facebook page on Thursday, Atiku highlighted that the existing legal framework made it “nearly impossible for petitioners to advance their cases in the courts,” creating conditions that allowed for what he described as “brazen rigging” in 2023.

He stressed that correcting these flaws is essential to safeguard the credibility of the 2027 elections, urging lawmakers to ensure that any amendments are passed in time to govern future polls.

“At a time when the mistakes of the 2023 elections are still fresh, the legal instrument for the conduct of the 2027 and subsequent elections must be reviewed,” Atiku said.

He expressed concern that the Senate appears determined to delay or frustrate the passage of the amendments, citing a recent report by the Foundation for Investigative Journalism (FIJ) as an indictment of legislative inaction.

“The credibility of the 2027 general elections hinges on the urgency with which the Senate treats this crucial bill,” Atiku warned. “It is imperative that the Senate finalises the amendments and ensures the updated law governs the conduct of the 2027 elections. Anything short of this is a deliberate attempt to rig the election long before the ballots are cast.”

Below, the statement is reproduced in full:

“A major setback to the 2023 elections is the loopholes in the Electoral Act 2022 that paved the way for the brazen rigging of that election, and the near-impossibility of petitioners to advance their cases in the courts.

“It is imperative that if the mistakes of the 2023 election are to be corrected, the legal instrument for the conduct of the 2027 and subsequent elections needs to be reviewed.

But as things stand, it has become obvious that the Senate is determined to frustrate the passage of amendments to the 2022 Electoral Act.

“The recent report by FIJ serves as both an indictment of the Senate and a timely call for legislative responsibility.

“The credibility of the 2027 general elections hinges on the urgency with which the Senate treats this crucial bill.

“It is, therefore, imperative that the Senate finalises the amendments and ensures the updated law governs the conduct of the 2027 elections.

“Anything short of this is a deliberate attempt to rig the election long before the ballots are cast.

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