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2022 Budget: President Buhari Set To Present Appropriation Bill Before NASS

Electronic Transmission of Results

President Muhammadu Buhari is set to appear before a joint session of the National Assembly (NASS) on Thursday, October 7, 2021, where he will present the 2022 budget. This follows a letter presented to the Senate by the president which was read by the Deputy Senate President, Ovie Omo-Agege.

President Buhari had earlier submitted the revised 2022-2024 Medium Term Fiscal Framework to the Committee on Finance for legislative input. In his letter, PMB explained why the revision was necessary in order to include all the new fiscal terms in the Petroleum Industry Act, 2021, as well as other critical expenditures in the 2022 budget.

According to him;

“The PIA established a progressive fiscal framework aimed at encouraging investment in the Nigerian Petroleum Industry. This significantly alters the Oil and Gas fiscal terms and has necessitated changes in the 2022-2024 Medium Term Fiscal Framework.

“The fiscal effects of PIA implementation are assumed to kick in by mid-year 2022. The revised 2022-2024 Fiscal Framework is premised on hybrid of January-June (based on current fiscal regime) and July-December (based on PIA fiscal regime), while 2023 and 2024 are now fully based on the PIA.”

The areas where these changes reflect include a reduction of Gross Revenue projection by N341.57 billion (from N8.870 trillion to N8.528 trillion); decreased deductions for federally funded upstream projects costs and 13 percent derivation by N335.3 billion and N810.25 million respectively; and Net Oil and Gas revenue projection declined by N5.42 billion from N6.540 trillion to N6.535 trillion.

To cover the deficit, revenues are expected to be generated to do so. N837.76 billion will be generated from an increase in revenue of Government-Owned Enterprises; N697.6 billion from MDAs Internally Generated Revenue; the introduction of Education Tax of N306 billion and Dividend of N8.3 billion from the Bank of Industry as revenue lines; and FGN share of oil price royalty of N96.9 billion which is expected to be transferred to the Nigerian Sovereignty Investment Authority based on the provisions of the PIA.

The Deputy Senate President, after reading the President’s letter referred same to the Committee on Finance.

The Committee which is Chaired by Senator Solomon Olamilekan Adeola was mandated to report back tomorrow, Wednesday, October 6, 2021.

“You will have to report back to us latest tomorrow (Wednesday), to enable us to use it as a predicate for the budget presentation on Thursday.”

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Entertainment

Odumodublvck drops 23-track Industry Machine album

Nigerian rapper Odumodublvck has officially dropped his highly anticipated 23-track album, Industry Machine, featuring powerhouse collaborations with Wizkid, Davido, Skepta, Seun Kuti, and several others. Produced by Telz and P.Priime, the project seamlessly fuses hip-hop and Afrobeats, underscoring Odumodublvck’s versatility and bold sonic direction. Within hours of its release, the album soared to No. 1 on Apple Music Nigeria’s Top Albums chart, signaling both widespread acclaim and the rapper’s growing dominance in the music industry.

Among the standout tracks, “Big Time” featuring Wizkid debuted at No. 9 on Apple Music’s Top Songs chart, earning praise for its infectious rhythm, Wizkid’s captivating verse, and Odumodublvck’s sharp lyricism. Fans and critics alike have hailed Industry Machine as a defining moment in Nigerian music, celebrating its high production value and collaborative depth. Speaking on the project, Odumodublvck described it as “a celebration of creativity, hustle, and the evolution of the industry,” cementing his reputation as one of the country’s most innovative and influential rap voices.

For a while now, followers of Nigerian music have been keenly aware of the concept of the ‘INDUSTRY MACHINE.’ The swaggering phrase has been an integral part of the digital vocabulary of Nigerian rapper and singer, ODUMODUBLVCK, hinting at the highly anticipated follow-up to his 2023 mixtape, ‘EZIOKWU’, which spawned several hit tracks and established his reputation as one of Nigeria’s finest Hip-Hop acts.

In the two years since ‘EZIOKWU,’ ODUMODUBLVCK has only grown more unstoppable, racing to the top of charts in Nigeria on multiple occasions while showcasing the full breadth of his amorphous Okporoko sound on songs like “100 Million” and “NOT ALL THAT” as well as on collabs like “JUJU,” “Funds,” and “Flako.”

Seven months after the surprise drop of ‘THE MACHINE IS COMING,’ ODUMODUBLVCK has finally released ‘INDUSTRY MACHINE,’ bringing a thrilling conclusion to months of anticipation with a blockbuster 23-track release that runs through the full gamut of the Abuja rapper’s fascination and beliefs across a variety of soundscapes.

Throughout ‘INDUSTRY MACHINE,’ ODUMODUBLCK glides between euphoric party starters (“BANZA BOY, “VINICIUS,” and “GROOVING”) and gritty Rap joints (“UNAWARE,” “IF YOU LIKE GYM,” and “LAYI WASABI.”). At different turns, he reveals a new layer to his work without losing touch with the uniquely Abuja perspective that broke him through.

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Lifestyle

#SpotlightAfricaThrowBackSeries Ado-Ekiti Indigenes Celebrate the Life and Times of Late Chief Ogunremi

Ado-Ekiti witnessed an outpouring of tributes as family, friends, and dignitaries gathered to honour the life of High Chief Oluwasesan Ogunremi, the Barafon of Ado-Ekiti and a respected leader of the traditional warlord chiefs in the kingdom.

The funeral began with a Christian wake and service of songs at the open grounds of St. Patrick’s Catholic Cathedral, Ado-Ekiti, before proceeding to the deceased’s compound in the Idolofin axis of the town for the main service. The ceremony, attended by top figures from within and outside Ekiti, featured prayers, thanksgiving, and eulogies in recognition of the late chief’s contributions to his community.

Following the service, Chief Ogunremi’s remains were interred at his residence, accompanied by hymns and tributes from relatives and well-wishers.

A reception later took place at the Ekiti Parapo Pavilion, where guests—including family members who travelled from the United States, United Kingdom, Canada, and Germany—were entertained with a lavish banquet. The event featured a performance by renowned gospel and highlife singer Evangelist Yinka Ayefele, while veteran emcee Olushola Oladele, popularly known as Pa Aristoe, anchored the proceedings.

The gathering attracted prominent personalities such as Mr. Babatope Adebiyi (King Jafil), Mr. Goke Olatunji, Regent Omotunde Adelabu, Hon. Abiodun Fawekun of the Ekiti State House of Assembly, members of the Ewi-in-Council, lawmakers, politicians, business leaders, and artisans.

Born on February 7, 1929, to Mr. Williams Akomolafe Ogunremi and Princess Abigail Ogunremi in Ado-Ekiti, Chief Ogunremi began his education at St. George’s Primary School, Agere, before moving to Lagos for electrical training. He later founded the well-known Micho Electronics and worked with business figures such as Chief Lawrence Omole and Chief Ajanaku in Ilesha.

He married his first wife in Ilesha, where the ceremony was held at St. Mary’s Catholic Church. In 1970, he returned to Ado-Ekiti and established Micho Motors, expanding his business interests into the automobile sector. His ventures took him across Europe, including Austria, Brussels, Italy, and Germany.

In July 1988, he was installed as the Barafon of Ado-Ekiti by Oba George Adelabu, the Ewi of Ado-Ekiti. He became widely known for hosting the Udiroko Festival at his Okeilaja palace, a major cultural event that drew indigenes and chiefs before culminating in celebrations at the Ewi’s Palace. He later served as commissioner of the Ekiti State Electricity Board during the administration of Governor Adeniyi Adebayo.

Until his passing, Chief Ogunremi remained an active member of St. Patrick Catholic Cathedral, Ado-Ekiti. He is survived by his wives, children, grandchildren, and great-grandchildren.

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News

Fresh reaction emerges over Saraki’s peace move amid PDP crisis

The Peoples Democratic Party (PDP) Renaissance group has praised the reconciliation efforts of the committee led by former Senate President Bukola Saraki, describing the intervention as pivotal in preventing the party from collapsing under internal disputes.

In a statement issued on Thursday, August 28, Bashir Sulaiman, convener of the group, commended both Saraki’s Reconciliation and Strategy Committee and the PDP Governors’ Forum under Governor Bala Mohammed of Bauchi State for “restoring peace where many expected chaos.”

“I am very impressed by what Dr. Bukola Saraki, the Reconciliation and Strategy Committee, and PDP Governors Forum, led by Governor Bala Mohammed, have done to get the PDP back on track,” Sulaiman said.

“They were tasked with resolving disputes and preparing the party for its convention, and they have delivered with precision and dedication.

The PDP has been in turmoil since the 2023 general election, with key figures such as Sunday Udeh-Okoye, Setonji Koshoedo, and Sam Anyanwu embroiled in a tussle for the National Secretary position.

According to Sulaiman, Saraki’s intervention was instrumental in ensuring that the long-standing dispute was finally resolved in favour of Anyanwu.

“Many had predicted that the PDP would collapse under the weight of its internal disagreements. Yet, thanks to Dr. Saraki, his Reconciliation Committee, and the backing of the PDP Governors’ Forum, the party has defied those expectations,” Sulaiman noted.

“The 100th, 101st, and 102nd NEC meetings were conducted without rancour, and lingering disputes have been amicably settled.”

With preparations for the party’s convention and zoning framework now underway, the PDP Renaissance group believes the opposition is on course to reclaim power from the ruling All Progressives Congress (APC).

“The party is now better positioned to take power back from a government that does not care about the needs of the people,” Sulaiman said.

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