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BREAKING: Kogi Assembly Approves Renaming Of State Varsity After Late Governor

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The Kogi State House of Assembly has passed a bill changing the name of the state owned university to Prince Abubakar Audu University, Ayingba.

Governor Yahaya Bello made the announcement on Saturday at the campaign rally at the university town of Ayingba, Kogi East Senatorial District.

Bello said the decision was “in recognition of Audu’s unparalleled achievements and contributions to education and overall development of the state.”

“Today, the sixth Assembly has approved the bill changing the name of our university to Prince Abubakar Audu University, in honour of our great leader and political icon, in recognition of his unparalleled achievement in the state.”

Audu was governor of Kogi State twice. His first tenure was from January 1992 until November 1993; while the second tenure ran from 29 May 1999 to 29 May 2003.

He had sought to be elected governor again in 2015 on the platform of the ruling All Progressives Congress; and he won the August 28th Kogi State gubernatorial primary.

He picked Mr. James Abiodun Faleke, a legislator, as his running mate.

However, Audu died on November 22, shortly before the Independent National Electoral Commission declared the Kogi State governorship election as inconclusive.

He had recorded more votes than his opponent in the elections, but due to the dilemma created by his sudden death, his party, APC, chose the runner-up of the primary elections, Yahaya Bello, as the candidate to replace him.

Bello is seeking reelection as Kogi governor on the platform of his party, APC.

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Inside Nigeria

Nigeria’s Public Debt Is Officially ₦29.83 Trillion

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Buhari

The total public debt stocks of the Federal Government of Nigeria, all states within the Nigerian federation, and the FCT is now ₦28.63 trillion as of Q1 2020.

This is was made known by the National Bureau of Statistics (NBS) in a report they released on Friday, July 10, 2020.

Further analysis of Nigeria’s total public debt showed that N9.99 trillion which equals about 34.89% of the debt was external.

A breakdown of the report revealed that the total debt stock of the states as of 31 March 2020 is N4.1 trillion. Meanwhile, these states’ total Internally Generated Revenue (IGR) for 2019 was N1.3 trillion. They also received N2.47 trillion from FAAC.

As usual, Lagos State recorded the highest IGR at N398.7 billion. The state also received N117.8 billion in FAAC disbursements and has a total debt stock of N444.2 billion, thereby making up 10.8% of the total debt stock of the states.

Yobe State recorded the lowest debt stock out of all the states with just N29.2 billion. This made up just 0.7% of the total debt stock of the states. Meanwhile, the state generated a total IGR of N8.4 billion in 2019.

Part of the report by the NBS said:
“Nigerian States and Federal Debt Stock data as at 31st March 2020 reflected that the country’s total public debt portfolio stood at N28.63trn. Further disaggregation of Nigeria’s total public debt showed that N9.99trn or 34.89% of the debt was external while N18.64trn or 65.11% of the debt was domestic.

“Similarly, States and FCT domestic debt was put at N4.11trillion with Lagos state accounting for 10.8% of the total domestic debt stock while Yobe State has the least debt stock in this category with a contribution of 0.7%.”

However, the FCT had total debt of N106.8 billion, making up 2.6% of the total debt stock of the states. The FCT also recorded an IGR of N74.5 billion in 2019 and received N71.9 billion in FAAC.

The Federal Government’s total domestic debt stock by Q1, 2020 was N14.5 trillion, with FGN bonds making up 72.5% of the total portfolio followed by treasury bills at 18.24%.

The total public debt stock has risen by 4% since December 2019 while the previous figure stood at N27.4 trillion.

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Inside Nigeria

BREAKING: Buhari Signs N10.8trn Revised 2020 Budget

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Muhammadu Buhari

President Muhmmadu Buhari, on Friday, signed the revised 2020 Budget of N10.8 trillion, passed by the National Assembly in June, into law.

While signing the bill into law, the President explained the revision became necessary because of the weakening effect of the COVID-19 pandemic on the nation’s economy.

He also said ministries, department and agencies will be given 50 percent of their capital allocation by the end of the month.

The signing ceremony, which took place inside the State House, was witnessed by the Vice-President Yemi Osinbajo (SAN), Secretary to the Government of the Federation (SGF), Mr Boss Mustapha, and the Chief of Staff to the President, Professor Ibrahim Gambari.

Senate President, Ahmed Lawan, Speaker Femi Gbajabiamila and other principal officers also witnessed the signing.

The Ministers Finance, Budget and National Planning, Zainab Ahmed; Minister of State Finance, Clement Agba, Governor of Central Bank of Nigeria, Godwin Emiefile and Director General Budget, Ben Akabueze.

At 11:03am, Senator Babajide Omoworare, Senior Special Assistant (SSA) to President on National Assembly Matters (Senate) and Hon. Umar El-Yakub, on National Assembly Matters (House of Representatives) presented the budget to the President, while the Osinbajo, Lawan, and Gbajamilia joined him to witness the signing the budget at exactly 11:06

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Inside Nigeria

Nigeria Records 499 New COVID-19 Cases, Total Now 30,748

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Nigeria has recorded 499 new cases of coronavirus, bringing the total number of infections in the country to 30,748.

The Nigeria Centre for Disease Control (NCDC) made this known via its Twitter handle on Thursday.

“499 new cases of #COVID19; Lagos-157 Edo-59 Ondo-56 Oyo-31 Akwa Ibom-22 Borno-21 Plateau-19 Kaduna-18 Katsina-18 Bayelsa-17 FCT-17 Delta-14 Kano-11 Rivers-10 Enugu-8 Ogun-6 Kwara-4 Imo-3 Nasarawa-2 Osun-2 Abia-1 Ekiti-1 Niger-1 Yobe-1.”

499 new cases of #COVID19;

Lagos-157

Edo-59

Ondo-56

Oyo-31

Akwa Ibom-22

Borno-21

Plateau-19

Kaduna-18

Katsina-18

Bayelsa-17

FCT-17

Delta-14

Kano-11

Rivers-10

Enugu-8

Ogun-6

Kwara-4

Imo-3

Nasarawa-2

Osun-2

Abia-1

Ekiti-1

Niger-1

Yobe-1

30748 confirmed

12546 discharged

689 deaths

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