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2016 Budget Deficit: FG Rules Out Tax Increase

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Minister of Budget and National Planning-Udoma Udo UdomaThe Federal Government on Thursday ruled out increasing taxes as a way of closing the deficits in the 2016 budget proposal presently before the National Assembly.

The N6.08 trillion 2016 budget proposal has a deficit of N1.84 trillion, which is to be financed by a combination of domestic borrowing of N984 billion and foreign borrowing of N900 billion.

Some experts had raised alarm over the huge funds to be borrowed to finance the budget and instead proposed that taxes be raised to offset the deficit.

But the Minister of Budget and National Planning, Udoma Udo Udoma, said government will rather concentrate on improving taxes’ collection.

Stressing that the government does not want to increase the suffering of Nigerians by imposing taxes, the minister said the government is aiming to increase corporate tax and Value Added Tax (VAT) collections by at least 20 per cent.

Udoma made this known while addressing State House correspondents at the end of the National Economic Council (NEC) meeting presided over by Vice President Yemi Osinbajo Thursday.

The minister was accompanied by governors Akinwunmi Ambode (Lagos), Willy Obiano (Anambra) and Badaru Abubakar (Jigawa).

Udoma said: “We expect about 20 per cent increase in VAT collection, which is conservative in terms of our revenue projections. We are expecting much more than that.

“With reference to the budget, one thing we are determined not to do is to cut any of those capital projects, because we need them to stimulate the economy. We are going to work with the National Assembly, to see how we can get savings.

“One of the areas we are looking at is our cash call elements.  The minister of state for petroleum is looking at how we can cut our cash call elements which is about N1trillion by innovative financing. So he is discussing with some oil companies and looking for some innovative financing which might pick up some of the financing so that we reduce our financial output and contribution by the federal government”.

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Injustice Made Me To Dump PDP For APC – Senator Abbo

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Injustice Made Me To Dump PDP For APC – Senator Abbo

Elisha Abbo

Senator Elisha Abbo has stated that injustice in the Peoples Democratic Party (PDP) made him leave the party for the All Progressives Congress (APC).

He stated this on Thursday shortly after he was presented with the party flag by the Chairman of the Caretaker/Extra-Ordinary Convention Planning Committee, Governor Mai Mala Buni at the party’s National Secretariat in Abuja.

Senator Aboo said he has found justice, development, and purposeful leadership in the ruling party.

Also Read: BREAKING: Senator Abbo Dumps PDP; Joins APC

“In the first place, the reason, why everybody should join politics, is to serve the people. The essence of government is to shield the poor masses and ensure justice,” he said.

“My main mission of joining the APC is because I have seen justice, I have seen development and I have seen the desire for the leadership at the highest peak to sacrifice their personal comfort just to make the poor people feel good. So I am in the APC to deliver, I am into the APC to help the people.”

The lawmaker promised to work to make sure the APC takes back Adamawa State from the PDP in 2023.

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NDDC Is A Cash Cow For Politicians – Nyesom Wike

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NDDC Is A Cash Cow For Politicians - Nyesom Wike

Governor Wike

Governor of Rivers State, Nyesom Wike has expressed that he has never seen a more corrupt institution than the Niger Delta Development Commission (NDDC).

He made this remark while speaking as a guest on Channels TV Sunrise Daily on Thursday morning.

Also Read: Cult Violence: Wike Imposes Two-Week Curfew Around Okoro-Nu-Odu

Governor Wike went on to describe the Commission as a cash cow for politicians, stating that this has been the practice for a very long time.

The Governor also stated during the interview that South-South Governors have challenged NDDC against carrying out projects without consulting the state government.

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BREAKING: Senator Abbo Dumps PDP; Joins APC

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BREAKING: Senator Abbo Dumps PDP; Joins APC

Elisha Abbo

Senator Elisha Abbo has defected from the opposition Peoples Democratic Party (PDP) to the All Progressives Congress (APC), Nigeria’s ruling party.

Senator Abbo, who represents Adamawa North in the Nigerian Senate announced his defection from the PDP to the APC in a letter addressed to the Senate.

Senator Ahmad Lawan, the President of the Nigerian Senate, read the letter during Wednesday’s plenary session.

Also Read: 2023 Presidency: Bode George Cautions Buhari About Tinubu

In his letter, Senator Abbo explained that his decision to defect to the APC is because of the mismanagement of the PDP in Adamawa state by Governor Umaru Fintiri.

Senator Abbo who is a first-term lawmaker was elected in 2019 to the Senate on the platform of the Peoples Democratic Party (PDP).

Meanwhile, the name Senator Elisha Abbo became popular amongst Nigerians last year after he made headlines for slapping an attendant in a sex toy shop for ‘disrespecting’ him.

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