Connect with us

News

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.”

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Tupac’s killer found guilty after 30 years

Duane “Keffe D” Davis has been found guilty in Tupac Shakur’s 1996 murder after trial testimony also raised an alleged payment involving Diddy. A Las Vegas jury has found Duane “Keffe D” Davis guilty of first-degree murder in the 1996 killing of rapper Tupac Shakur, delivering the first conviction in one of hip-hop’s most notorious unsolved cases, nearly 30 years after the shooting.

Jurors took less than three hours to reach their verdict following a nearly two-week trial, convicting the 63-year-old former Compton gang leader of murder with a deadly weapon, with intent to promote, further or assist a criminal gang. Davis was not accused of pulling the trigger himself.

Prosecutors argued he was the “shot caller” who handed the murder weapon to the gunman, believed to be his nephew, Orlando “Baby Lane” Anderson, seeking revenge after Shakur’s entourage assaulted Anderson earlier that night. Under Nevada law, someone who facilitates a murder can be convicted of the crime itself.

Beyond the verdict, testimony during the trial surfaced a detail that has drawn far less attention than the conviction itself: an alleged connection to Sean “Diddy” Combs. According to testimony reported by Rolling Stone, Combs allegedly arranged for money to be passed to Davis through an intermediary named Zip Martin, reportedly intended as payment tied to the killing.

The arrangement reportedly fell apart when Martin, in poor health at the time, never followed through on meeting Davis as investigators had hoped. Combs, now serving a 50-month sentence following his 2025 conviction on prostitution-related transportation charges, has consistently denied any involvement in Shakur’s death, and no charges have been filed against him in connection with this testimony.

Prosecutors built much of their case on Davis’s own past statements, including admissions made in police interviews and details from a memoir he authored, in which he described handing his nephew the gun used in the shooting.

Davis did not testify in his own defence. His attorney, Michael Sanft, argued throughout the trial that Davis fabricated or exaggerated his account for money and notoriety, telling jurors that investigators failed to independently verify his claims.

Judge Carli Kierny ordered Davis held without bail ahead of sentencing, scheduled for October 13, where he faces a possible life sentence without parole. After the verdict was read, Davis calmly asked the court for his personal belongings, including his phone and laptop, and indicated he intends to appeal the conviction.

The verdict lands just two weeks before the anniversary of Shakur’s death on September 13, giving his family a name and now a conviction attached to the killing they’ve waited nearly three decades for.

Continue Reading

News

Nathaniel Bassey shocked after Pastor Jerry Eze surprises him with birthday car

Gospel singer and minister Nathaniel Bassey has expressed shock after pastor Jerry Eze surprised him with a car as a birthday gift. Nathaniel Bassey shared a video of the moment he received the car, with the singer repeatedly asking who had sent him the gift.

Accompanying the video was a heartfelt message in which Bassey described himself as speechless after the surprise. Bassey revealed that although he usually keeps gestures like this private, he decided to share the surprise with his followers.

He explained that Pastor Jerry had secretly worked with his wife to get the car for him without his knowledge.

“Normally I keep things like this private, but not this one. I want to share this.
Woke up yesterday just desiring a nice, easy day of gratitude to God. Unknown to me, my brother and friend @realjerryeze had this holy coup ongoing with my wife.


In truth, the surpriser had been surprised. Still don’t know how to really express this in words.
He insisted on going for the very best when my wife suggested one to get. In his words, “My brother can’t drive that”

The gospel minister also revealed that Pastor Jerry plans to make similar gestures for other people.

“Pastor Jerry, not only has he done this for me. I know of a couple of other ones like this He is currently planning. The man gives like his life depends on it.
And I’m here to publicly say THANK YOU, PJ (pastor Jerry) – You know, even if you never do this, I’d still love you the same.
Thank you, Sir. Like I told you, I am speechless.”

Continue Reading

Entertainment

Reconciliation with ex-husband Churchill helped women restore broken relationships-Tonto Dikeh

Actress Tonto Dikeh has revealed how her reconciliation with her ex-husband, Olakunle Churchill, inspired her to help at least 10 women restore broken relationships with the fathers of their children. Dikeh shared this while urging single mothers to let go of hurt and embrace forgiveness for their own peace and healing.

According to the actress, her reconciliation with Churchill prompted several women in similar situations to reach out to her for guidance on how she overcame the pain of their decade-long dispute.

Ever since my reconciliation with my ex-husband, hundreds of women have reached out asking the same question: How did you learn to forgive?

While I couldn’t reply to everyone, I reached out to those whose pain mirrored my own. Today, to the glory of God, at least 10 women have been reconciled, restoring peace, healing hearts, and stepping into healthy co-parenting. God has truly turned my personal story into a tool for restoration.

If you are carrying bitterness today, please hear this: Forgiveness is never for the person who hurt you; it is for you. It is the key to moving your life forward. God will not inflict pain on others just because we are hurting,” she explained

Dikeh added that women who struggle with broken relationships should trust God rather than remain trapped in bitterness.

“True closure doesn’t come from people; it comes from God. He promises to restore the years that the cankerworm has eaten. Not just days or weeks, but years. Every tear you’ve shed and every year spent in pain will be turned into a powerful testimony.”

Dikeh’s message comes months after she announced the end of her long-running feud with Churchill, the father of her son, King Andre.

The former couple got married in 2015, but their marriage collapsed less than two years later. Their separation became a highly publicised dispute, with both parties involved in several accusations and public exchanges. Their disagreements also extended to issues around their son, with custody and co-parenting becoming part of the conflict. After years of hostility, Dikeh announced in January 2026 that she and Churchill had reconciled.

Continue Reading

Trending