Legislature
Buhari requests Senate’s approval for restructuring of N23.7t Ways and Means Advances
President Muhammadu Buhari has requested for approval of restructuring of N23.7trillion Ways and Means advances given the federal government by the Central Bank of Nigeria (CBN)
The President request as contained in a letter that was read in Senate Plenary on Wednesday, indicated that Ways and Means are advances from the Central Bank of Nigeria to the federal government for emergency funding of delayed receipt of fiscal deficit .
The letter titled : “Restructuring of ways and means advances” reads in part, “The ways and means advances by the central bank of Nigeria, to the federal government has been a funding option to the federal government to cater for short term or emergency finance to fund delayed government expected cash receipt of physical deficit.
“The ways and means, balances as at 19th December 2022 is 22.7 trillion.
“I have approved the securitization of the ways and means balances along the following terms ÷ Amount. N23 .7 trillion, Tenure 40years, Moratorium on principal repayment, three years, Pricing interest rate 9%, .
“Your concurrence vand approval is sought to allow for the implementation of same”
The President of the Senate, Ahmad Lawan forwarded the request to the Senate Committee on Finance for report consideration and passage in plenary Thursday.
He said the request and the N819.5billion supplementary budget will be considered for required passage at plenary Thursday along with the N20.51trillion 2023 appropriation bill and other critical ones .
“We are referring these letters to our committees on Appropriation, Finance, works, water resources and Agriculture today.
“They have to work on it and ensure that we follow the due processes. In that respect, the Minister of Finance, the CBN, misters of Agriculture, water resources and works to be invited and make themselves available for this process and to ensure that we get the right information between today and tomorrow.
“Tomorrow (Thursday) by the grace of God, will be the last legislative day for the 9th senate this year. It will be quite busy for us because we have to receive the report of the 2023 Appropriation Bill from our committte on Appropriations.
“We will also receive report on Finance Bill, 2022 from our committee on Finance.
We will also receive the report from the appropriation committee on the two reports that I have just read.
“Also, the committee on power will be bringing the report on power, so it’s going to be very busy for us. So, we may have to stay here for many hours in order to pass or consider the report”, he said .
Legislature
NASS modifies NDLEA Act, Prescribes Life Imprisonment for Drug Traffickers
The National Assembly has modified the National Drug Law Enforcement Agency (NDLEA) Act to prescribe life imprisonment for individuals found guilty of storing, transporting, or concealing illicit drugs and substances.
The amendment was adopted on Thursday during plenary, presided over by Deputy Senate President Barau Jibrin, following broad support from the senators.
The amendment reflects a harmonised position of the Senate and the House of Representatives on Section 11 of the NDLEA Act.
The House had earlier passed an amendment prescribing life imprisonment for drug traffickers, while the Senate had proposed the death penalty.
To reconcile the differences, a conference committee of both chambers was convened. Senator Tahir Monguno, Chairman of the Senate Committee on Judiciary, Human Rights, and Legal Matters, presented the harmonised version to the Senate.
He urged lawmakers to adopt the House’s position of life imprisonment, arguing that enforcing the death penalty could lead to the execution of over 900 accused persons currently awaiting trial for drug-related offenses.
The Deputy Senate President who presided over the plenary had put the resolution to a voice vote, and the majority of senators supported the amendment.
The approved version stipulates life imprisonment for offenders.
The amended section now reads:
“Anybody who is unlawfully involved in the storage, custody, movement, carriage, or concealment of dangerous drugs or controlled substances and who, while so involved, is armed with any offensive weapon or is disguised in any way, shall be guilty of an offence under this Act and liable on conviction to be sentenced to life imprisonment.”
This amendment aims to strengthen the fight against drug trafficking while addressing concerns over human rights and the judicial implications of the death penalty.
The move is part of efforts to curb the growing menace of drug trafficking and its adverse effects on Nigerian society. According to Senator Monguno, the life imprisonment penalty strikes a balance between deterrence and humane judicial practice.
With the amendment, the NDLEA now has a robust legal framework to prosecute offenders and combat drug-related crimes effectively.
Legislature
President Tinubu urges Senate to approve ₦1.767trn External Loan
President Bola Ahmed Tinubu has formally requested the National Assembly’s approval for a $2.209 billion (₦1.767 trillion) external borrowing plan to finance part of the ₦9.17 trillion fiscal deficit in the 2024 budget. The loan, included in the 2024 Appropriation Act, is critical to the government’s broader strategy for economic recovery and growth.
In a letter to Senate President Godswill Akpabio, President Tinubu noted that the borrowing aligns with the provisions of Sections 21(1) and 27(1) of the Debt Management Office (DMO) Establishment Act, 2003. He also indicated that the Federal Executive Council (FEC) had approved the plan.
The President explained that the funds would be sourced through Eurobonds or similar external financial instruments. A detailed summary of the loan’s terms and conditions accompanied the letter to guide legislative scrutiny.
“This borrowing is necessary to address the budget deficit and fulfill our fiscal strategy for 2024. Swift approval will enable us to move forward with mobilizing these funds,” the President stated, emphasizing the urgency of the request.
Senate President Akpabio referred the matter to the Committee on Local and Foreign Deb
Legislature
Senator Natasha Transforms Kogi Central Schools with 5,000 Digital Learning Devices
By Isah Bala
Access to quality education is a cornerstone of societal progress, and Senator Natasha Akpoti-Uduaghan is embodying this vision by bringing transformative educational tools to Kogi Central. In a groundbreaking initiative, the senator recently provided 5,000 digital learning devices to public primary and secondary schools in her district, aiming to bridge the digital divide and set a new educational standard.
The devices, unveiled at Abdul Aziz Attah Memorial College (AAAMCO), are preloaded with the Nigerian curriculum from UBEC and internationally acclaimed educational resources, including Khan Academy and Discovery Kids. Through this initiative, students will experience interactive learning, enabling them to explore subjects in depth, enhance digital literacy, and engage with complex topics in a hands-on way.
This project is just the beginning of Senator Natasha’s ambitious plan to make “smart schools” the norm in Kogi Central. She envisions a future where every child in her district has equal access to digital learning, stating, “My dream is to equip all public primary and secondary schools in Kogi Central with digital learning devices before the end of my tenure in 2027.”
Beyond device distribution, the senator’s initiative includes UBEC-led teacher training to ensure educators are equipped to integrate these tools into their classrooms effectively.
With this dual approach of student and teacher empowerment, Senator Natasha is laying a foundation that will support digital literacy and skill development for years to come.
Senator Natasha’s commitment to educational advancement represents a significant step forward for Kogi Central, ensuring that young students have access to the tools they need to succeed in an increasingly digital world. This initiative marks her dedication to the constituency that entrusted her with this mandate.
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