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November 23, 2023 Senate Approves 2024-2026 Mid-Term Fiscal Plan

Senate Approves 2024-2026 Mid-Term Fiscal Plan

The Senate has passed the 2024–2026 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP), with a borrowing plan of 7.8 trillion naira for 2024, a nine trillion-naira deficit, and a federal government total expenditure of 26 trillion naira.

The Senate President, Godswill Akpabio, announced approval for 2024, the oil price benchmark of 73 dollars per barrel of crude oil, 1.78 million barrels per day, and sustained as contained in the MTEF/FSP documents.

He equally announced a special intervention of 200 billion naira, 7 billion naira, and an exchange rate of 700 naira for a US dollar.

The Senate also resolved that all items locally produced should be banned from importation.

The joint committee chaired by Senator Musa Sani also observed that many of the Federal Government’s revenue-generating agencies engaged in arbitrary, frivolous, and extra-budgetary expenditures.

It consequently recommended that a review of the laws of all revenue-generating agencies be carried out.

November 23, 2023 Tinubu Back In Abuja After G20 German Summit

Tinubu Back In Abuja After G20 German Summit

President Bola Tinubu has arrived in Abuja from Berlin, Germany, where he attended the G20 Compact with Africa (CwA) Conference.

The President, who left Nigeria on November 18, 2023, arrived in Abuja last night.

He was received on arrival by the Minister of the Federal Capital Territory (FCT), Nyesom Wike; the National Chairman of the All-Progressives Congress (APC), Abdullahi Ganduje; as well as his Chief of Staff, Femi Gbajabiamila, at the Nnamdi Azikwe International Airport, Abuja.

One of his last engagements in Berlin had President Tinubu boasting of his achievements when he served as Lagos State Governor.

A cross-section of callers on our breakfast programme, The Big Story, reacted to the speech by the President.

November 23, 2023 FG Asks Supreme Court To Extend Old Notes Validity After December 31

FG Asks Supreme Court To Extend Old Notes Validity After December 31

The Federal Government has asked the Supreme Court to grant an extension of time for old naira notes to remain in circulation as legal tender.

The government also wants the court to lift its March 3 order that the old naira notes should remain alongside the new notes till December 31.

In March, the Central Bank of Nigeria (CBN) said old N200, N500, and N1,000 banknotes would remain legal tender till December 31, 2023.

It said the extension of time is necessary, and it has not been able to print the volume of new notes that would enable it to phase out old currency before the December 31 order.

In the fresh application by the Attorney-General of the Federation, Lateef Fagbemi, the Federal Government said if the Supreme Court declines its request, the country may descend into another economic and financial crisis, as witnessed during the naira redesign policy implemented by the former CBN Governor, Godwin Emefiele.

November 22, 2023 JUSUN Declares Indefinite Strike In Osun

JUSUN Declares Indefinite Strike In Osun

The Judiciary Staff Union of Nigeria (JUSUN), Osun State Chapter, has initiated an indefinite industrial action with immediate effect.

The announcement was made on Wednesday by the state chapter's JUSUN chairman, Oluwagbenga Olakunle Eludire.

The strike follows a two-day protest on Monday and Tuesday by Osun JUSUN, centring on allegations of maladministration against the embattled Osun Chief Judge, Justice Oyebola Adepele Ojo. JUSUN members accused Justice Adepele Ojo of unfairly persecuting certain staff members and withholding their entitlements, including the reinstatement of suspended judiciary staff in the state, arrears of wardrobe allowances from 2021 to 2023, and the restoration of training exercises.

Eludire, in issuing the directive for the strike, emphasised the need for the immediate regularisation and promotion exercise for JUSUN members, as well as the prompt implementation of other entitled benefits without further delays. He instructed all judiciary workers in the state to refrain from attending courts, stay away from their offices, and withdraw their services.

This industrial action reflects the discontent within the Osun State judiciary, with JUSUN members seeking redress for alleged grievances against the Chief Judge.

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