NASS Releases Details Of Its 2018 Budget

Published

5 years ago

April 12, 2019

The National Assembly has released the details of its budget for the 2018 fiscal year.

The Office of the Senate President disclosed the details of the budget in a tweet on Friday.

It explained that the disclosure was in line with the commitment of the leadership of the 8th Assembly to accountability and transparency.

The details were released following pressure from human rights activists and civil society groups in the country.

Of the N139.5 billion earmarked for the National Assembly, the Senate got a total of N35.58 billion while the House of Representatives had N57.4 billion.

The National Assembly Office got N15.38 billion just as the legislative aides and the NASS Service Commission had N10.20 billion and N2.73 billion respectively.

Similarly, the National Assembly Legislative Institute got N4.37 billion while N1.14 billion was earmarked for service-wide-vote of the legislature.

A total of N12.3 billion was earmarked for general services while the Public Accounts Committee (PAC) of the Senate and the House got N118.97 million and N142.76 million respectively.

However, there were no figures affixed to the line items in the details of the 2018 budget released by the National Assembly.

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FG woos foreign mining investors with lower production cost

Published

19 hours ago

November 28, 2023

The Gleamer

Joel Ajayi

Cutting red tapes which slow business transactions and improving the security of mining operations are among fresh commitments unfolded by Nigeria’s Minister of Solid Minerals Development, Dr. Oladele Alake at the Mines & Money Conference which opened in London, United Kingdom on Tuesday.

Addressing global stakeholders in the mining industry, Alake, in the 15-minute speech pitched for more investment in Nigeria listing unique advantages such as lower production cost due to surface mining and billions of dollar untapped minerals.
He quoted recent reports by audit firm KPMG which reported that mining’s contribution to Nigeria’s GDP rose from 0.3 percent to 0.85 percent last year, indicating 0.63 percent year on year growth.

His words: “The country’s geological bounty encompasses over 44 distinct mineral types, found in exploitable quantities across more than 500 locations. Recently, recognizing the evolving global landscape and in response to emerging trends, Lithium has been included as a crucial strategic mineral of global consequence.”

Dr. Alake said the administration of President Bola Tinubu has embarked on reforms to boost investment by streamlining procedures and reducing hurdles to attract foreign investors.

Showcasing recent progress in creating conditions for solid minerals development, Dr. Alake highlighted fresh data revealed by the Airborne Geophysical Survey, memorandum of understanding with German firm Geoscan to gather more data on solid minerals across the country and access to finance through a new funding facility launched by the Africa Finance Corporation and the Solid Minerals Development Fund.

The minister reminded the global mining community of the Federal Government ‘s policies on how mining operations must benefit the communities and lead to processing instead of wholesale export of raw minerals.

“ Nigeria is currently emphasizing Solid Minerals Beneficiation and Value-Addition as a panacea for quick and sustainable growth of the Mining Industry…By adding value to our raw materials, we not only create higher value products but also generate employment opportunities for our teeming youth and increase the sector’s overall profitability and contribution to the nation’s GDP”, he said
Dr. Alake urged investors to support socio-economic development of the communities where they mine to make mining mutually beneficial.

Citing the recent launch of the revised guidelines for Community Development Agreement which provides for social amenities, educational support, health and safety environmental facilities.

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