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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

Bovi To Replace IK Osakioduwa as hosts for 12th edition Of AMVCA, Ending 11-year Run

After eleven consecutive editions under the same host, the Africa Magic Viewers’ Choice Awards is changing the face of its stage.

The organisers have announced Nigerian comedian and actor Bovi Ugboma and South African actress Nomzamo Mbatha as co-hosts for the 12th edition, scheduled for May 9, 2026, at the Eko Hotel and Suites in Lagos, bringing to a close IK Osakioduwa’s unbroken run as the face of the ceremony since its debut in 2013.

Osakioduwa has been a fixture of the AMVCA since the awards launched, hosting every edition across more than a decade. His departure from the role marks the most significant change to the ceremony’s presentation since its inception.

In his place steps Bovi, one of Nigeria’s most recognised stand-up comedians, known for his sharp wit, storytelling, and stage command. Joining him is Nomzamo Mbatha, whose profile extends well beyond the screen. The actress, producer, and UNHCR Goodwill Ambassador gained international recognition through her role in Coming 2 America and currently stars as Queen Nandi in the acclaimed epic drama series Shaka iLembe, for which she also serves as Executive Producer.

The organisers described the pairing as “a master of wit and narrative, and a global icon of screen and advocacy,” promising a night where “mastery meets African excellence.” Bovi, speaking on his appointment, made clear he understands the significance of the occasion.

“The AMVCA stage is one of the biggest in Africa, and I don’t take that lightly,” he said. “I want to bring the energy, the laughs, and the magic that this night deserves. African storytelling is at an all-time high, and it’s an honour to be the one holding the mic while we celebrate the best of it.”

Veteran actress Joke Silva has been named head judge for the 12th edition.On the nominations front, Gingerrr and The Herd lead the pack with nine nods each across acting, directing, and technical categories. To Kill A Monkey follows with eight nominations, while My Father’s Shadow, from the Davies brothers, earned seven across various categories.

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Celebs

One Half Of The Estranged Duo P-Square Declares Nov 30 as his new birthday

Mr P has officially moved his birthday celebration from November 18 to November 30, adding a new layer to the ongoing P-Square family feud. What began as a social media declaration has now been formalised. A few hours after announcing his intention to change his birthday date, Peter Okoye, known professionally as Mr P, has issued an open letter confirming that November 18, the date he has shared with his twin brother Paul Okoye since birth in 1981, is no longer his day of celebration.

“Dear Family, Friends, and Fans,” the post read. “I’m making it official. November 18th is no longer my birthday celebration date. Please note that I will not be accepting any messages or gifts on that day. My birthday will now be celebrated on November 30th. This is a personal decision, and I truly appreciate your understanding.”

The message is brief, but its implications are quite clear. November 18 has long been one of the last remaining public symbols of a shared identity between two brothers whose professional and personal relationship has deteriorated sharply over the past several years.

By formally reassigning the date, Peter is drawing a line that goes beyond creative differences or business disputes.

The reaction from Nigerians online has been largely sceptical.

Many have questioned the necessity of the gesture, with a significant number describing it as petty and unnecessary given the more substantive issues that have defined the brothers’ current estrangement.

The consensus among critics is that changing a birthday date does little to resolve any of the actual grievances and serves mainly as a public statement of severance.

The feud between Peter and Paul Okoye has now spanned multiple years, two official splits, a brief reunion, and a growing list of public accusations on both sides. November 30 is still months away. To see if the gesture will land as true liberation or just pettiness may depend entirely on where things stand by then.

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I Took Over From Myself’: Tinubu’s Claims that He and Buhari Are ‘One’

President Bola Tinubu addressed supporters on Wednesday night in a video that was equal parts pep talk and provocation, but it was one particular line that cut through everything else and set social media alight.

Speaking to the leadership and coordinators of his Renewed Hope Ambassadors, Tinubu pushed back against the criticism that his administration inherited and worsened an already broken economy.

His defence took an unexpected turn. “This economy, I didn’t have to look back because the truth is, I took over from myself,” he said. “The late Buhari is me, he was a partner, if I took over from him, is that not from myself? So, it’s wrong? Fine. Live with it, correct it, move on.

Nigerians online did not move on, at least not immediately. The comment, which appeared to collapse the distinction between his administration and Muhammadu Buhari’s, drew a flood of reactions ranging from genuine bewilderment to sharp mockery.

For critics who have spent two years arguing that Tinubu’s government is a continuation of the same policies that drove Nigeria into economic hardship, the president had essentially handed them their argument in his own words.

The broader address, shared to his official page at 10:38 pm alongside a roughly ten-minute video, was deliberately combative.

Tinubu took aim at the opposition, dismissing the recently held ADC convention as “a street convention” and its energy as mere “rascality.”

He warned that his government would not yield to noise or disobedience of court orders, while also promising supporters that standing with him would not be a decision they would regret.

At one point, he told the ambassadors, “That is why we have told you to renew their hope”, drawing laughter from the audience. He added that for those unwilling to embrace the hope on offer, they would simply provide “eyeglasses.” It was the kind of line that plays well in a room full of loyalists and poorly everywhere else.

The overall message he tried to convey was that he would not be retreating, would not be apologising, and was not particularly interested in critics.

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