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House of Representatives Delves Into 2024-2026 Fiscal Plans for Economic Fortification

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The House of Representatives initiated a comprehensive evaluation of President Tinubu’s 2024-2026 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) during Wedneday’s legislative proceedings. Chairman of the House Committee on Finance, James Faleke, steered an interactive session with ministers and permanent secretaries from diverse ministries, emphasizing the crucial role of this examination.

Faleke stressed the significance of shaping a realistic MTEF/FSP before the unveiling of the 2024 annual budget, asserting its instrumental role in molding the financial trajectory of the nation in the coming years. He assured a commitment to devising indigenous solutions to address the financial challenges currently plaguing the country, expressing concern over issues like the $11 billion P and ID contract scandal and the substantial monthly payment of $30 million by Nigeria Bulk Electricity Trading Plc (NBET) to Azura Power.

Among the financial issues under scrutiny are the substantial revenue loss from waivers and exemptions amounting to over N2.7 trillion, as projected in the 2024 budget estimates. Faleke underlined the pivotal role of the MTEF as the foundation of the annual budget, serving as the backbone for the implementation of the Federal Government’s plans and policies.

“The House Committee on Finance aims to ensure that MDAs negotiate favorable terms for the country in their agreements, particularly in light of recent costly agreements. Additionally, we will investigate factors contributing to revenue shortfalls, such as oil theft and NNPC agreements affecting revenue deductions at source,” affirmed Faleke.

Drawing attention to the mammoth significance of government revenue, Faleke underscored the committee’s commitment to surpassing the revenue estimates submitted by the Budget Office through the operations of government-owned agencies. However, he expressed apprehension regarding the country’s debt scenario, citing that deficit budgets have driven substantial domestic and foreign borrowing, with debt servicing payments accounting for over 95 percent of last year’s revenues.

In response, Faleke outlined the committee’s persistent efforts in the creative Revenue Monitoring Exercise, aiming to elevate the collective revenue profile of the country. “With the global economy facing challenges, including rising interest rates in developed countries, the committee recognizes the need to increase revenues,” he stated, emphasizing the goal of attracting investments and adeptly navigating Nigeria’s economic challenges.

Faleke concluded by highlighting the committee’s legislative scrutiny and proactive approach, reaffirming their dedication to addressing crucial financial matters and securing a robust economic future for the nation.

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Abuja Reports

Atoyebi Adewumi Wins 4th National Essay Competition, Beats 2,000 Contestants

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By Samson Adeyanju

Atoyebi Adewumi has emerged winner of the fourth edition of the National Essay Competition, beating more than 2,000 contestants in an intellectual contest aimed at promoting academic excellence, critical thinking and creative writing among young Nigerians.

The competition, which focused on the relevance of taxation to national development, challenged participants to examine the role of tax revenue in financing public services, stimulating economic growth and strengthening the relationship between government and citizens.

The initiative provided a platform for young Nigerians to demonstrate their writing skills, articulate informed perspectives on national issues and contribute ideas towards building a more responsible and progressive society.

Speaking after being declared winner, an elated Adewumi expressed gratitude to the convener, Foluso Sylvanus Ojo, and the organising team for providing young Nigerians with an opportunity to showcase their intellectual abilities.

“I am so glad, very, very glad, to have this privilege of emerging as the winner. I am grateful to the convener and the entire team, as well as everyone who supported this vision,” Adewumi said.

In his remarks, Ojo expressed concern over the tendency to criticise the attitudes and lifestyles of younger generations without providing adequate opportunities to nurture their talents and channel their energies towards productive pursuits.

He called on the government, corporate organisations and nongovernmental organisations to invest more in educational initiatives that promote intellectual excellence, creativity and responsible citizenship.

According to him, sustained investment in academic competitions and youth development programmes would encourage discipline, innovation and a stronger commitment to national development.

Drawing a comparison with the substantial cash prizes awarded in some reality television competitions in Nigeria, Ojo argued that students and intellectually gifted young Nigerians deserved greater recognition, financial support and encouragement.

“I believe the government should support initiatives like this because individuals need supportive hands, especially from the government. When they receive such support, they become more confident and motivated to continue their good work,” he said.

Ojo maintained that society could not continue to complain about the attitudes and lifestyles of young people without deliberately investing in programmes that encourage positive values and productive engagement.

The fourth edition of the competition also underscored the importance of tax awareness among young Nigerians, highlighting how effective taxation, transparency and accountable governance could contribute to improved infrastructure, education, healthcare and other essential public services.

Beyond celebrating the winner, the competition reinforced the need to identify, encourage and empower emerging intellectual talents capable of contributing meaningfully to Nigeria’s development.

Winner of the 5,000,000 naira

Winner of 3,000,000 naira

Winner of 2,000,000

All the participants 

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Abuja Reports

20 Finalists Begin Final Stage of National Essay Competition

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By Samson Adeyanju

Twenty finalists from across Nigeria have begun the final stage of the fourth edition of the National Essay Competition in Abuja, following an orientation session designed to prepare them for the decisive examination.

The finalists arrived in the Federal Capital Territory for a four-day, all-expenses-paid programme featuring the essay examination, institutional tours and opportunities for learning and networking.

The competition, the brainchild of Mr Foluso Ojo, is sponsored by the Nigeria Revenue Service (NRS).

Ahead of the examination, the finalists participated in an orientation session led by Professor Omotosho Borisade of Ekiti State University, who serves as the competition’s umpire.

The session familiarised participants with the competition’s rules and regulations, examination guidelines and assessment criteria, helping them understand the requirements of the final stage.

The essay examination is scheduled to begin today at 9 a.m., after which the finalists are expected to embark on institutional tours around Abuja.

The programme is designed to extend beyond the contest itself, exposing the finalists to new learning opportunities, professional connections and experiences in the nation’s capital.

The competition brings together young Nigerians to demonstrate their writing ability, knowledge, creativity and critical-thinking skills as they compete for the top honours.

With the finalists prepared for the examination, attention now turns to their performance and the eventual emergence of the competition’s champion.

 

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Pastor Ogundipe Decries Lack of Integrity Among Educated Nigerians

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By Samson Adeyanju

Pastor Alex Ogundipe, Chairman of the Governing Board of Christian Heritage International Bible College, Kubwa, Abuja, has expressed concern over the growing number of educated Nigerians who lack the character and integrity required to make meaningful contributions to society.

Ogundipe raised the concern during the matriculation ceremony of the institution’s 60 pioneer students, stressing that academic qualifications without moral discipline and upright character could undermine national development.

According to him, Nigeria has many knowledgeable and academically accomplished individuals whose inability to demonstrate integrity has negatively affected their contributions to their families, workplaces and communities.

“We have too many people in this country who are knowledgeable and wise in their own ways, but they do not have character and integrity. That affects their ability to impact their communities,” he said.

The cleric emphasised that education must go beyond the acquisition of certificates to the development of individuals who demonstrate honesty, accountability, faithfulness and commitment to serving humanity.

He explained that true integrity required consistency in personal conduct, whether at home, in the church, at work or within the larger society.

Ogundipe said the college was established not merely to impart biblical knowledge but to raise men and women whose lifestyles reflect Christian values and whose contributions would positively influence society.

He urged Christian leaders to demonstrate their faith through practical actions rather than mere religious declarations.

Speaking on Nigeria’s future, the cleric encouraged citizens to remain hopeful, pray for the country and contribute meaningfully to national peace, unity and development.

Earlier, the Rector of the institution, Pastor Samson Olukayode Aliyu, challenged the matriculating students to prioritise spiritual maturity and moral discipline alongside academic excellence.

Aliyu warned against examination malpractice, plagiarism, dishonesty and other forms of misconduct, stressing that academic certificates could demonstrate knowledge but could not substitute for good character.

“The Church does not only need gifted people; it needs godly people. We need leaders who will choose integrity over compromise, humility over pride, faithfulness over convenience and service over self-interest,” he declared.

He explained that the college offers six-month certificate programmes in theology and one-year diploma programmes in theology, leadership and prophetic studies.

One of the matriculating students, Akeem Omobolanle, who enrolled in the Diploma in Leadership programme, commended the institution’s approach to biblical education and expressed optimism that the training would strengthen his understanding of the Scriptures and prepare him for greater service in Christian ministry.

The ceremony marked the formal admission of the college’s pioneer students into its academic community.

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