General
How Buhari Plans to Spend N255b for 2019 Elections
By Dipo Olowookere
On Tuesday, July 17, 2018, President Muhammadu Buhari wrote to the Senate, seeking an approval for the use of N254.5 billion for the 2019 general elections.
Next year, Nigerians will head to the polls to choose another set of leaders for the next four year.
In 2015, Nigerians voted massively for the All Progressives Congress (APC), which promised them change.
The APC, which was then an opposition party, defeated the then ruling Peoples Democratic Party (PDP) at the polls.
Business Post gathered that the 2015 general elections were executed with about N108 billion by former President Goodluck Jonathan.
In the letter sent by President Buhari to the Senate yesterday, he explained that the N254.5 billion would be drawn from the 2018 and 2019 budgets.
Mr Buhari urged the lawmakers to remove projects earlier inserted into the budget and replace them with priority projects as contained in the original bill.
While signing the budget on June 20, President Buhari raised the alarm that Nigerian lawmakers had tampered with the document sent to them.
Mr Buhari said the National Assembly made cuts amounting to N347 billion in the allocations to 4,700 projects submitted to them for consideration and introduced 6,403 projects of their own amounting to N578 billion.
Mr Buhari in his Tuesday letter insisted he would not submit a supplementary budget to fund these priority projects. Instead, he urged the lawmakers to remove those inserted.
Also contained in the letter is the supplementary budget of N242.5 billion to fund six agencies in the 2019 general election.
Of the total sum, N164 billion will be drawn from the 2018 supplementary budget while N78.3 billion will form part of the 2019 budget of these agencies.
“As you are aware, the 2019 general election is scheduled to be conducted early in 2019. To ensure that adequate arrangements are made for free and fair election, it has become necessary to appropriate funds to enable the relevant agencies to commence preparations.
“INEC and the security agencies have accordingly recently submitted their requests and these have been subjected to the usual budget evaluation. The aggregate cost of the election is estimated at N254,445,322,600.
“However, in line with the prevailing fiscal I’m proposing that the sum of N164,104,792,65 be provided for through virement or supplementation of the 2018 budget.
“I propose that the balance of N78,340,530,535 mostly related to personnel allowances, fuelling and other costs not required until election proper be provided in their 2019 budget.
“The proposal for the 2019 election is as summarised below:
INEC
2018 supplementary – N143,512,529,445
2019 budget – N45,695,015,438
Total: N189,207,544,893
Office of the National Security Adviser
2018 supplementary – N3,855,500,000
2019 budget – 426,000,000
Total – 4,281,500,000
DSS
2018 supplementary – N2,903,638,000
2019 budget – N9,309,644,455
Total – N12, 213, 282, 455
NSCDC
2018 supplementary – N1,845,597,000
2019 budget – N1,727,997,500
Total – N3,573,534,500
Nigeria Police
2018 supplementary – N11,457,417,432
2019 budget – N19,083,900,000
Total – N30,541,317,432
NIS
2018 supplementary – N530,110,078
2019 budget – N2,098,033,142
Total – N2,628,143,320
Total amount (for 2019 election)
2018 supplementary – N164,104,792,065
2019 budget – N78,314,530,535
Total – N242,445,322,600
“You will also recall that when I signed the 2018 appropriation act, I indicated the need for reinstatement of certain cuts made to certain critical projects provided in the original executive bill. I’m therefore submitting for your consideration the reinstatement of most of the most critical of such cuts totalling N67,742,216,150 which are summarised in page one.
“The total amount required to be provided for in the 2018 budget for the 2019 general election and to restore the identified critical projects to the amount earlier proposed is therefore N228,854,800,250.
“Implementing a budget of N9.12 trillion for 2018 would be extremely challenging and therefore, I do not consider it expedient to propose a further increase to the size of the 2018 expenditure framework to fund these very important and critical expenditure items.
“Accordingly, I invite the distinguished senate to consider, in the national interest, relocating some of the funds appropriated for the new projects which were inserted into the 2018 budget proposal totalling N 578,319,951,904 to cover the sum of N228,854,800,205 required as noted above.
“A schedule sitting out a comprehensive list of these inserted projects is attached to this letter for ease of your consideration.
“Further to the above, kindly find attached a supplementary budget and virement proposal for your consideration.
“While hoping that this request will expeditious consideration of the distinguished senate, please accept, Mr Senate President, the assurances of my highest consideration,” the letter signed by Mr Buhari said.
General
Lagos to Get New Building Code in 2025
By Adedapo Adesanya
The Lagos State Government has expressed its readiness to get a brand-new Building Code next year, to achieve the high-performance standards needed to make Lagos a sustainable and Smart City.
The government’s readiness was disclosed at the Lagos State Executive Council Retreat on the Domestication of the Lagos Building Code, organised by the Office of the Special Adviser on e-GIS and Urban Development, held at Ikeja GRA on Wednesday.
Speaking during the retreat, Lagos State Governor, Mr Babajide Sanwo-Olu emphasised the need for more collaboration among all the ministries and agencies in the built sector, to ensure the state development in line with global best practices.
He said the motive behind the Lagos Building Code is to have a building regulation that would make Lagos much more resilient.
“We (Lagos State Government) are the first to domesticate the National Building Code, which is the creation of the Federal Government. We are not doing anything outside the vision at the sovereign and sub-sovereign levels. But what is unique about our own is the fact that all the cabinet members see the need to have an input because it would be an outcome that would affect lives and different ministries and agencies.
“So, there is a need for everybody to have a say, and at the end of the day, collectively we will resolve to have a way.
“What we are trying to do is for Lagos State to do what is obtainable internationally: have a building regulation in which we have a standard of construction in design, manner of land use occupancy, and use of building materials, which we believe would eventually improve and help with health, safety, and occupancy issues.
“It is all about building sustainably, making Lagos a lot more resilient and able to absorb shock in the future and able to stand in the comity of developed cities and city-states as we see in various parts of the world,” he said.
The Special Adviser to the Governor on eGIS and Urban Development, Mr Olajide Babatunde, stated that the Lagos Building Code is to complement the existing regulatory framework and provide a comprehensive solution to the challenges of land use, physical development, and urban planning.
Mr Babatunde said the Lagos Building Code will regulate building control, planning permission, and address the issues of setbacks; take care of the safety and sustainability of the environment; and also prevent the collapse of buildings.
“We have been working on the domestication of the National Building Code, and by next year, we are going to have our own brand-new Lagos Building Code. We have worked with professional bodies and people from academia, market women, and the public in general, and through a participatory approach, we can come out with a document that is acceptable to everyone and useful to the entire state,” he said.
Also speaking, the Special Adviser to the Governor on Infrastructure, Mr Olufemi Daramola, described the Lagos State Building Code initiative by the Babajide Sanwo-Olu administration as the next step to Green Lagos that will enable the state to plan buildings properly and ensure durable infrastructure in the state.
During the retreat, members of the Lagos State Executive Council brainstormed and advocated aggressive sensitisation for residents of the State on the Lagos Building Code before implementation.
General
Apostle Femi Lazarus Emerges Most Streamed Podcast in Nigeria on Spotify
By Modupe Gbadeyanka
A report released by Spotify has revealed that in 2024, Apostle Femi Lazarus was the most streamed podcast on its platform, closely followed by Motivation Daily by Motiversity.
Podcasts are one of Africa’s favourite ways to tell stories. With almost 4 billion minutes of podcast audio played in Sub-Saharan Africa in 2024, the continent’s appetite for this content is loud and clear.
South Africa, Nigeria, and Kenya listened to the most shows this year, with South Africa contributing over 2 billion minutes. If you started playing podcasts on one device today, it would make for about 30 centuries of listening.
“The numbers don’t lie. Podcasting is here to stay because it lets creators take control of their narratives and tell these stories on their terms while bringing their community along for the journey,” the Sub-Saharan Africa Podcast Manager for Spotify, Ncebakazi Manzi, stated.
Motivational shows around issues like managing finances, relationships, personal goals and health remain popular across the three leading countries. Shows like “The Diary Of A CEO with Steven Bartlett”, “Motivation Daily by Motiversity” and “The Success Addicted Podcast” have attracted listeners who want to get their lives in order and learn from the stories of inspirational people.
Audiences in Nigeria and South Africa embrace shows about spirituality. “Christian Motivation” had one of the most shared episodes in South Africa while “Apostle Joshua Selman” maintained his popularity in Nigeria for another year. As the continent’s second-largest podcast market, Nigeria listened to 700 million minutes in 2024 and it created half of the new shows published in Sub-Saharan Africa this year.
Even though spirituality dominated Nigeria’s top charts, the continued popularity of shows like “I Said What I Said” and “The HonestBunch Podcast” tell us that listeners also want conversation-style shows. Listeners in Kenya and South Africa also showed an affinity toward these shows.
A good laugh with friends
The “ShxtsnGigs” podcast, an opinion show hosted by two best friends James and Fuhad, tapped into audiences’ hunger for conversational shows. The humorous podcast has made its way to the top charts in six of the top 10 podcast-playing African countries. In Kenya, The 97s Podcast has been inspired by this approach where funny and frank chats between hosts Trevor, Frank and Dante have led the podcast to take the number-one spot in the country for the first time.
Kenya’s broader listening data shows that relationships are a meaningful taking point. Seven of the 10 most shared episodes in the country discuss love, sex lives and dating. Julia Gaitho’s “So This Is Love” holds three out of the top five most shared podcast episodes in the country. Her interviews resonated because she draws lessons from her guest’s stories about lost lovers.
Some listeners just wanted to laugh through the pain. Ensemble shows like “Mic Cheque Podcast” and “The Sandwich Podcast” made Kenyans feel like they were hanging out with a close circle of friends. When difficult topics come up, moments of infectious laughter help lighten the mood.
Women creators like Murugi Munyi, Julia Gaitho, Sharon Machira and Lydia K.M. take this comedic approach to a new level on shows like “The Messy Inbetween” and ‘It’s Related, I Promise’. This genre contributed heavily to the country’s 400 million podcast minutes streamed in 2024.
Below are the most streamed and shared podcasts for the year;
TOP STREAMED PODCASTS IN SOUTH AFRICA |
TOP STREAMED PODCASTS IN NIGERIA |
TOP STREAMED PODCASTS IN KENYA |
2. Motivation Daily by Motiversity 3. Success Addicted Podcast with the voice of Earl Nightingale ; Napoleon Hill ; Jim Rohn and many more |
TOP SHARED PODCAST EPISODES IN SOUTH AFRICA |
TOP SHARED PODCAST EPISODES IN KENYA |
TOP SHARED PODCAST EPISODES IN NIGERIA |
|
|
|
General
Watt Renewable Secures $15m Loan for Hybrid Solar Power Plants in Nigeria
By Dipo Olowookere
A $15 million debt facility has been obtained by Watt Renewable Corporation from the AfriGreen Debt Impact Fund to finance hybrid solar power plants to be built and operated by the former, especially in Nigeria.
WATT intends to use the projects to serve commercial and industrial clients in Nigeria, particularly in the telecommunication and financial services sectors.
By integrating solar hybrid solutions, the firm aims to significantly reduce diesel consumption and CO2 emissions, enabling its clients to achieve substantial energy cost savings while promoting environmental sustainability.
As a pioneer in renewable energy solutions, WATT continues to drive innovation in Nigeria’s energy sector.
The company’s robust roll-out plan includes deploying hundreds of hybrid solar power sites nationwide to meet the growing energy demands of commercial & industrial clients.
This strategic expansion aligns with WATT’s vision to revolutionize energy access across Africa, enabling sustainable development and reducing reliance on fossil fuels.
The funds from AfriGreen provide the critical capital needed to accelerate WATT’s ambitious projects, strengthening its market position and empowering businesses with reliable and affordable energy solutions.
Business Post gathered that to mitigate the currency risk for WATT in the event of devaluation of the Nigerian Naira, AfriGreen is offering a local currency facility that matches the payment structure of the power purchase agreements.
“We are thrilled to partner with AFRIGREEN on this transformative journey to expand reliable and sustainable energy solutions across Africa.
“With this support, it enables us to accelerate our shared mission of providing hybrid solar power to businesses, reducing carbon emissions, and supporting economic growth while enhancing energy security for our clients,” the Managing Director of WATT, Mr Oluwole Eweje, said.
“We are delighted to support WATT in rolling out hundreds of hybrid sites across the country.
“This represents another key transaction for AFRIGREEN in Nigeria. The combination of high energy prices, good solar irradiation, and strong demand from industrial and commercial energy users makes this market particularly attractive for companies like WATT.
“By leveraging these favourable market conditions alongside WATT’s exceptional operational performance and a well-structured financing solution, we are setting the stage for a strong and lasting business partnership,” the Managing Director of AfriGreen, Mr Alexandre Gilles, stated.
-
Feature/OPED5 years ago
Davos was Different this year
-
Travel/Tourism8 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz2 years ago
Estranged Lover Releases Videos of Empress Njamah Bathing
-
Banking6 years ago
Sort Codes of GTBank Branches in Nigeria
-
Economy2 years ago
Subsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking2 years ago
First Bank Announces Planned Downtime
-
Sports2 years ago
Highest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
-
Technology4 years ago
How To Link Your MTN, Airtel, Glo, 9mobile Lines to NIN