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December 14, 2023 Why We Demolished Assembly Complex- Rivers Govt

Why We Demolished Assembly Complex- Rivers Govt

The Rivers State Government has attributed the House of Assembly complex demolition to structural defects arising from the explosion and fire outbreak in October.

The state commissioner for information, Joseph Johnson, said that the incident rendered the building unfit for human use, saying that there were visible cracks on the walls and the entire structure looked frail and unsafe for legislative business.

He said that professional advice was sought on the integrity of the building after Governor Siminalayi Fubara’s inspection visit to determine the level of damage, and demolition was recommended.

Johnson, however, said the Rivers state government has provided an alternative venue for the House of Assembly to conduct its affairs pending the rebuilding of the complex.

Speaking later on about the demolition, the state commissioner for information, Joseph Johnson, said dynamites had been reportedly used to attack the complex, leading to visible cracks on the walls, hence the grave damage.

December 14, 2023 Fubara Presents Rivers’ N800b 2024 Appropriation Bill To Four-Member Assembly

Fubara Presents Rivers’ N800b 2024 Appropriation Bill To Four-Member Assembly

In Rivers State, Governor Siminialayi Fubara has presented the 2024 Appropriation Bill to five state House of Assembly members loyal to him.

The five-person assembly was presided over by Edison Ehie, who was backed by a ruling of the Rivers State High Court as the authentic Speaker of the state assembly.

This came a few minutes after the demolition of the House of Assembly complex started, with the state government citing integrity issues as a result of the fire that gutted a part of the facility in October.

During the proceedings, Ehie declared the seats of the 27 lawmakers who defected from the People’s Democratic Party (PDP) to the All-Progressives Congress (APC) vacant.

The 27 members of the House loyal to the Minister of the Federal Capital Territory, Nyesom Wike, were not present at the sitting.

The Rivers State Executive Council had earlier approved the budget estimates of the document tagged 'Budget of Renewed Hope, Consolidation, and Continuity’.

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December 14, 2023 Sanwo-Olu Presents N2.2trn 2024 Budget To Assembly

Sanwo-Olu Presents N2.2trn 2024 Budget To Assembly

Governor Babajide Sanwo-Olu has presented a budget estimate of 2.24 trillion naira for the 2024 fiscal year to the state House of Assembly.

The document, entitled “Budget of Renewal," was presented at the Chamber of the Lagos State House of Assembly at Alausa Ikeja.

The governor, who noted that the 2023 budget is expected to achieve at least 90 percent implementation, proposed that the 2024 appropriation bill comprise N1.02 trillion recurrent expenditure, 45 percent recurrent expenditure, and 55 percent capital expenditure.

The governor noted that the 2024 appropriation proposal will further cushion the effects of the fuel subsidy removal and other economic hardships on the people of Lagos.

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December 14, 2023 Naira Scarcity: Cardoso Blames Redesign Policy, Pledges Policy Overhaul

Naira Scarcity: Cardoso Blames Redesign Policy, Pledges Policy Overhaul

Central Bank of Nigeria Governor Yemi Cardoso has blamed the recent cash scarcity on the flawed implementation of the naira redesign policy.

He made this known while speaking at the World Bank Nigeria Development Update launch in Abuja, which projected a 3.5 per cent annual growth for the 2023 to 2026 fiscal year.

Cardoso noted many feared the old notes would lose legal tender status, prompting them to hoard cash.

He said a thorough review will be done on all policies to produce a document outlining clear rules and procedures for navigating the Nigerian money market.

The CBN governor also assured that the Supreme Court’s recent ruling upholding the validity of the old notes beyond the initial deadline will ease cash into circulation.

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