The Ethiopian President Sahle-Work Zewde on Monday disclosed that the countrys first-ever satellite would be launched into space in December with the support of the Chinese government.

Zewde disclosed this while addressing the new parliamentary session of the Ethiopian House of Peoples Representatives (HoPR) and the House of Federation (HoF), which was opened at a joint meeting on Monday.

The first Ethiopian satellite will be launched in December this year from a centre in China, Zewde said.

Ethiopia is presently developing the countrys first-ever satellite, a 70kg Multi-Spectral Remote Sensing Satellite, known as ETRSS-1, through support from the Chinese government.

According to Zewde, the Ethiopian government envisages that the countrys maiden satellite, once it commences its operations, would help the East African countrys efforts to modernise its agricultural sector.

The satellite will provide all the necessary data on changes in climate and weather-related phenomena that would be utilised for the countrys key targets in agriculture, forestry and natural resources protection initiatives, Zewde told members of the two houses.

The satellite, which is set to be launched from China, will have its command and control centre in Ethiopia at the Entoto space observatory facility.

East Africas only space observatory facility located on the 3,200-metre hills of Entoto on the outskirt of the capital Addis Ababa, it was noted.

In April this year, the Ethiopian Prime Minister Abiy Ahmed had also visited the China Academy of Space Technology to inspect Ethiopias 70kg Multi-Spectral Remote Sensing Satellite ETRSS-1.

Ahmed during his visit stay in China where he attended the second Belt and Road Forum for International Cooperation that was held from April 25 to 27 in Beijing, capital of China.

The Ethiopian Space Science and Technology Institute had been co-developing the East African countrys Multi-Spectral Remote Sensing Satellite ETRSS-1, according to the Ethiopian government.

ETRSS-1, which already recognized as the East African countrys first-ever satellite, once launched into space, is expected to monitor weather patterns for better agricultural planning, drought early warning and forestry management, it was noted. (Xinhua/NAN)

Source: NAN

By Ismaila Chafe

President Muhammadu Buhari accompanied by members of the Federal Executive Council (FEC) on Tuesday presented the 2020 budget proposal to a joint session of the National Assembly (NASS).

Buhari, who addressed the joint session of NASS at about, 2.03p.m., unveiled a budget of N10.33 trillion for the 2020 fiscal year.

The Federal Executive Council had proposed N10.007 trillion for the financial year but the figure was increased to N10.33 trillion by the National Assembly.

The president said the 2020 budget was designed to be a budget of Fiscal consolidation to strengthen our macroeconomic environment; Investing in critical infrastructure, human capital development and enabling institutions, especially in key job creating sectors.

He added that the budget was meant for Incentivising private sector investment essential to complement the governments development plans, policies and programmes; and enhancing our social investment programmes to further deepen their impact on those marginalised and most vulnerable Nigerians.

According to him, the total Federal Government revenue in 2020 is N8.155trillion comprising oil revenue of N2.64 trillion, non-oil tax revenues of N1.81 trillion and other revenue of N3.7trillion.

This is seven per cent higher than the 2019 comparative estimate of N7.594 trillion inclusive of the Government Owned Enterprises, he said.

The president said non-debt recurrent expenditure include N3.6 trillion for personnel and pension costs, an increase of N620.28 over the 2019 fiscal year figure.

This increase reflects the new minimum wage as well as our proposals to improve remuneration and welfare of our police and armed forces, he said.

He disclosed that N2.46 trillion was earmarked for capital projects, inclusive of N318.06 billion in statutory transfers.

Other estimates are N556.7 billion for statutory transfers; N2.45 trillion for debt servicing and provision of N296 billion as sinking fund.

He explained that the sinking fund would be used to retire maturing bonds to local contractors.

The 2020 budget is based on an oil production estimate of 2.18 million barrels per day, oil price benchmark of 57 dollars per barrel and an exchange rate of N305 to a dollar.

Other benchmarks are: real Gross Domestic Product (GDP), growth rate of 2.93 per cent while inflation rate is expected to remain slightly above single digits in 2020.

On sectoral allocation, the president said the Ministry of Interior would get N35 billion as against N569 billion in 2019, Defence (N100 billion), Education (N48 billion) and Health (N46 billion) for some key spending.

He noted with delight the continued recovery of the nations economy as well as the increase in the foreign reserve from 23 billion dollars in 2016 to N42.5 billion dollars in August.

This increase is largely due to favourable prices of crude oil in the international market, minimal disruption of crude oil production given the stable security in the Niger Delta region and our import substitution drive, especially in key commodities, he explained.

Source: NAN

2020 BUDGET SPEECH:
Budget of Sustaining Growth and Job Creation
Delivered By:
His Excellency, Muhammadu Buhari
President, Federal Republic of Nigeria
At the Joint Session of the National Assembly, Abuja
Tuesday, October 8, 2019

PROTOCOLS

1. I will start by asking you to pardon my voice. As you can hear, I have a cold as a result of working hard to meet your deadline!

2. I am delighted to present the 2020 Federal Budget Proposals to this Joint Session of the National Assembly, being my first budget presentation to this 9th National Assembly.

3. Before presenting the Budget, let me thank all of you Distinguished and Honourable Members of the National Assembly, for your avowed commitment to cooperate with the Executive to accelerate the pace of our socio-economic development and enhance the welfare of our people.

4. I will also once again thank all Nigerians, who have demonstrated confidence in our ability to deliver on our socio-economic development agenda, by re-electing this Administration with a mandate to Continue the Change. We remain resolutely committed to the actualization of our vision of a bright and prosperous future for all Nigerians.

5. During this address, I will present highlights of our budget proposals for the next fiscal year. The Honourable Minister of Finance, Budget and National Planning will provide full details of these proposals, subsequently.

OVERVIEW OF ECONOMIC DEVELOPMENTS IN 2019

6. The economic environment remains very challenging, globally. The International Monetary Fund expects global economic recovery to slow down from 3.6 percent in 2018 to 3.5 percent in 2020. This reflects uncertainties arising from security and trade tensions with attendant implications on commodity price volatility.

7. Nearer to home, however, Sub-Saharan Africa is projected to continue to grow from 3.1 percent in 2018 to 3.6 percent in 2020. This is driven by investor confidence, oil production recovery in key exporting countries, sustained strong agricultural production as well as public investment in non-dependent economies.

8. Mr. Senate President; Right Honourable Speaker; I am pleased to report that the Nigerian economy thus far has recorded nine consecutive quarters of GDP growth. Annual growth increased from 0.82 percent in 2017 to 1.93 percent in 2018, and 2.02 percent in the first half of 2019. The continuous recovery reflects our economys resilience and gives credence to the effectiveness of our economic policies thus far.

9. We also succeeded in significantly reducing inflation from a peak of 18.72 percent in January 2017, to 11.02 percent by August 2019. This was achieved through effective fiscal and monetary policy coordination, exchange rate stability and sensible management of our foreign exchange.

10. We have sustained accretion to our external reserves, which have risen from US billion in October 2016 to about US.5 billion by August 2019. The increase is largely due to favourable prices of crude oil in the international market, minimal disruption of crude oil production given the stable security situation in the Niger Delta region and our import substitution drive, especially in key commodities.

11. The foreign exchange market has also remained stable due to the effective implementation of the Central Banks interventions to restore liquidity, improve access and discourage currency speculation. Special windows were created that enabled small businesses, investors and importers in priority economic sectors to have timely access to foreign exchange.

12. Furthermore, as a sign of increased investor confidence in our economy, there were remarkable inflows of foreign capital in the second quarter of 2019. The total value of capital imported into Nigeria increased from US billion in the first half year of 2018 to US billion for the same period in 2019.

PERFORMANCE OF THE 2019 BUDGET

13. Distinguished and Honourable Members of the National Assembly, you will recall that the 2019 Budget of Continuity was based on a benchmark oil price of US per barrel, oil production of 2.3 mbpd, and an exchange rate of N305 to the United States Dollar. Based on these parameters, we projected a deficit of N1.918 trillion or 1.37 percent of Gross Domestic Product.

14. As at June 2019, Federal Governments actual aggregate revenue (excluding Government-Owned Enterprises) was N2.04 trillion. This revenue performance is only 58 percent of the 2019 Budgets target due to the underperformance of both oil and non-oil revenue sources. Specifically, oil revenues were below target by 49 percent as at June 2019. This reflects the lower-than-projected oil production, deductions for cost under-recovery on supply of premium motor spirit (PMS), as well as higher expenditures on pipeline security/maintenance and Frontier exploration.

15. Daily oil production averaged 1.86 mbpd as at June 2019, as against the estimated 2.3 mbpd that was assumed. This shortfall was partly offset as the market price of Bonny Light crude oil averaged US.20 per barrel which was higher than the benchmark price of US.

16. Additionally, revenue projections from restructuring of Joint Venture Oil and Gas assets and enactment of new fiscal terms for Production Sharing Contracts did not materialize, as the enabling legislation for these reforms is yet to be passed into law.

17. The performance of non-oil taxes and independent revenues such as internally generated revenues were N614.57 billion and N217.84 billion, respectively.

18. Receipts from Value Added Tax were below expectations due to lower levels of activities in certain economic sectors, in the aftermath of national elections. Corporate taxes were affected by the seasonality of collections, which tend to peak in the second half of the calendar year.

19. On the expenditure side, 2019 Budget implementation was also hindered by the combination of delay in its approval and the underperformance of revenue collections. As such, only recurrent expenditure items have been implemented substantially. Of the prorated expenditure of N4.46 trillion budgeted, N3.39 trillion had been spent by June 30, 2019.

20. In compliance with the provisions of the 2018 Appropriation Act, we implemented the 2018 capital budget till June 2019. Capital releases under the 2019 Budget commenced in the third quarter. As at 30th September 2019, a total of about N294.63 billion had been released for capital projects. I have directed the Ministry of Finance, Budget and National Planning to release an additional N600 billion of the 2019 capital budget by the end of the year.

21. Despite the delay in capital releases, a deficit of N1.35 trillion was recorded at end of June 2019. This represents 70 percent of the budgeted deficit for the full year.

22. Despite these anomalies, I am happy to report that we met our debt service obligations, we are current on staff salaries and overhead costs have also been largely covered.

2020 BUDGET PRIORITIES

23. Distinguished Senators, Honourable Members, let me now turn to the 2020 Appropriation, which is designed to be a budget of:

a. Fiscal consolidation, to strengthen our macroeconomic environment;

b. Investing in critical infrastructure, human capital development and enabling institutions, especially in key job creating sectors;

c. Incentivising private sector investment essential to complement the Governments development plans, policies and programmes; and

d. Enhancing our social investment programs to further deepen their impact on those marginalised and most vulnerable Nigerians.

PARAMETERS

President Muhammadu Buhari on Tuesday presented a budget of N10.729 trillion to the joint session of the National Assembly for approval for the 2020 fiscal year.

According to the document, some of the ministries witnessed major changes when compared to the 2019 Budget proposal submitted by Buhari.

However, the Ministry of Works and Housing had the highest figure in the Budget Bill.

Below is the budget breakdown:

Transportation N123bn

UBEC N112bn

Defence N100bn

Agriculture N83bn

Water N82bn

Niger Delta N81bn

Education N48bn

Health N46bn

NEDC N38bn

SIP N30bn

FCT N28bn

Source: NAN

The Big Brother Naija 2019 winner, Mercy Eke popularly known as Lamborghini has been made Innoson Motors brand ambassador.

The announcement was made by a company representative of Innoson while handing her over the N25 million car she won on Sunday.

Mercy was all smiles as she received the car.

Mercy emerged the first female to win the BBNaija competition after beating fellow housemates Mike, Frodd, Omashola and Seyi to win the coveted grand prize worth N60 million.

After 99 days of excitement, intrigues, suspense, and nail-biting drama, Big Brother Naija Pepper Dem season came to a rousing end at the final live eviction show on Sunday night.

Watch video of the SUV presentation below:

Source: NAN

Gov. Emmanuel also emphasised that there was need for the state and indeed the country to invest more in Agriculture for wealth creation and economic growth.

He said that with the rich vegetation and a favorable weather eighty percent of what is consumed within the state should be produced in the state.

He said that his administration places high premium on Agriculture due to its high investment potentials and the derivable benefits in industrialization and wealth creation, harping on the need for all to harness the Agricultural potentials to generate revenue and attract Agro industries to the state.

According to him all the Local Government Areas have comparative advantages in various crops based on their soil adaptability for cultivation hence they should be harnessed.

If I could own a farm no person should have an excuse not to cultivate the soil given the rich vegetation that is suitable for all season cultivation, I hereby the Ministry of Agriculture to undertake free distribution of cassava stems for multiplication and high yield.

Also, the Technical Committee on Agriculture must ensure that the rice produced in the state floods the market for use during the Christmas festivals.

Furthermore, Governor Emmanuel revealed that the coconut refinery would also refine palm kernel and that the wild palm tree have rich nuts and oil better than other varieties that are good for edible oil.

He said that if every individual should invest in any aspect of Agriculture the state would in no distant time become a haven to investors while the farmers smile to the bank in their limousines.

Such produce like Palms trees, Cocoa,Cassava Bamboo,Tomatoes,and also fisheries and livestock are sources for high returns as such any area that excels in the cultivation of any crop attracts a processing plant which would in turn produce more revenue to the farmers, the area and the state.

Plans are underway to establish some agro value chain industries including an Ethanol plant, Toilet tissue making plant and sugar factory, he said.

While commending organizers of the retreat, the governor charged all stakeholders to collaborate to achieve success in the drive for self sufficiency and explore ways for exports.

Earlier the Commissioner for Agriculture Dr Glory Edet expressed appreciation to the Governor for his passion to make Agriculture a goldmine in the state with farmers getting value for their crops.

She said the retreat was for all the Agencies involved in Agro investment to brainstorm and evolve an action plan that would enhance efficiency in the Agro business chain.

The Head of Civil Service, Engr. Essien in a goodwill message lauded the passion the state governor had exuded by ensuring the drop in the price of Garri through an aggressive cultivation of the staple food crop.

He said that civil servants have heeded the call to own a farm and this has paid off and the people now have garri at an affordable price index without depending on other state for staple food stuffs.

The chairman Technical committee on Agriculture, Prof. Edet Udo thanked Governor Emmanuel for providing leadership by turning the culture of Farming to Business of Farming and for bracing the challenge of food scarcity to abundance and providing Garri processing plants in all the nooks and crannies of the state and the possibility of cultivating crops such as Tomatoes, cucumbers,watermelon which hitherto were brought in from other states.

He said that now investors are coming in droves to explore Agricultural development for sustainable development and export thereby increasing the value chain.

Source: NAN

Two officers of the Nigerian Police attached to the Rivers state command have been abducted by gunmen at Ngor, Headquarters of Andoni Local Government Area of Rivers State.

Reports say the officers were abducted on Monday, Oct. 7, and whisked to an unknown location.

As at the time of this report, the true identities of the police officers were yet to be ascertained.

While confirming the abduction, DSP Nnamdi Omoni, the Rivers State Police Commands spokesperson confirmed refused to give a comprehensive detail of the abduction but promised to give the details and circumstances surrounding the abduction later.

Source: NAN

Women in Aba, the commercial hub of Abia on Tuesday disrupted activities in the commercial city over bad roads and poor infrastructure.

The women threatened to shutdown the Government House in protest of bad governance in the State.

The women, mostly traders who came out in their hundreds issued a 90-day ultimatum to Governor Okezie Ikpeazu to the fix the bad roads in Aba and ensure payment of salaries to civil servants in the State.

Speaking to newsmen, the women leader threatened that there will be a return of Aba Women riot of 1929 if their demands were not met.

Security men were on ground to control the situation.

Source: NAN

An Instagram star who had radical plastic surgery to look like Angelina Jolie has been arrested in Iran on blasphemy charges.

Sahar Tabar was detained on the orders of Tehran’s guidance court, which deals with “cultural crimes and social and moral corruption”, the country’s state news agency said on Saturday.

She now faces charges including blasphemy, inciting violence, gaining income through inappropriate means and encouraging youth to corruption, the news agency added.

Tabar rose to prominence on Instagram last year after posting a series of images of her face altered through plastic surgery.

Most of the photos and videos shared with her 26,800 followers have also been heavily edited so that she is meant to resemble Hollywood star Angelina Jolie.

The account features images of her with a gaunt face, pouting lips and sharply turned-up nose.

In some, she can be seen wearing a loosely fitting hijab over her hair and a white bandage on her nose.

Such bandages, required after nose operations, are commonly seen on Tehran’s streets. Cosmetic surgery is hugely popular in the Islamic republic, with tens of thousands of operations taking place each year.

Instagram is the only major social media service accessible in Iran. Facebook, Twitter and the Telegram messenger service are officially banned.

Revealing the secret to her look last year, Tabar said most of it was down to make-up and Photoshop.

She said: “Every time I publish a photo, I paint my face in an increasingly funny way. It is a way of expressing yourself, a kind of art. My fans know that this is not my real face.”

She added: “I did not even think about being like Jolie. Also, I did not want to resemble the cartoon character the Corpse Bride.

“Now I understand that I have something to do with them, but I am a muse myself and remembering someone is not an end in itself.”

Thousands of Nigerians and well-wishers hit the streets of Manhattan in New York on Saturday to participate in the 2019 Nigerian Independence Day Parade.

Huge crowds cheered and danced as marching bands and floats decorated in Green-White-Green made their way from 54th Street to 44th Street on Second Avenue.

News Agency of Nigeria (NAN) reports that many attendees waved Nigerian flags and wore branded hats and T-shirts, amid expression of pride in their country’s rich culture and music.

Founded in 1991 and known as the largest gathering of Nigerians outside their country, the parade celebrates the best of Nigerian food, culture, music and people.

The event is organised by the Organisation for the Advancement of Nigerians (OAN) and the Nigerian Independence Day Committee.

Both bodies are coalitions of Nigerian cultural, religious, professional, business, and civic groups committed to the preservation, presentation and celebration of the country’s rich history and culture.

Saturday’s edition attracted personalities from different walks of life, including members of the Nigerian diplomatic community in the United States.

Various professional bodies, including the Association of Nigeria Physicians, New Jersey Chapter, and the Association of Nigerian Nurses, took part in the event.

The parade was led by Amb. Tijani Muhammad-Bande, the 74th President of the UN General Assembly PGA), Mr Benaoyagha Okoyen, the Consul General of Nigeria in New York, and other government officials.

The event also attracted some New York politicians, including the Borough President of Manhattan, Gale Brewer, who described the Nigerian community as “Number 1 in making New York great’’.

Many artistes featured in the event, but Nigerian music sensation, Teni, received the biggest cheers of the day as she sent the crowd wild with performances from her rich repertoire.

Addressing the crowds amid protests by supporters of detained rights activist, Omoyele Sowore,, Muhammad-Bande and Okoyen said the parade was a display of Nigeria’s unity.

Muhammad-Bande stated that there were too many reasons for Nigerians to celebrate, including the country’s rich ethnic and cultural diversity, regardless of what critics said.

Okoyen urged attendees to keep believing in Nigeria, adding that it “is the only identity we have, and nobody can build it for us’’.

“As we have come together this way, I believe that our differences will no longer define or divide us. Let us unite in our common interest to build Nigeria.

“Enough of those criticising us; we need to contribute our little efforts for this country to move forward,’’ he said.

Other participants, who spoke to NAN, expressed pride in their nation, noting that Nigeria would overcome its challenges and be great again.

“I am proud to be a Nigeria seeing so much joy and patriotism coming from my compatriots here in New York City,’’ said Mr George Onuorah, a media practitioner.

Ndubuisi Ahuzere, a 27-year-old indigene of Imo based in New York, said although “things are not the way we want them to be back home, I remain a proud Nigerian’’.

NAN reports that the parade also featured a display of Nigerian food, fashion and other cultural items.