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Market Digest Nigeria

News Highlights

Nigerian Newspapers Headlines (14th May, 2019)

2019 budget

As the inauguration of President Muhammadu Buhari for second term draws closer, the 2019 budget has been a topic that is being debated regularly. The Nigeria Extractives Industries Transparency Initiative (NEITI) has released a data showing that 28 states cannot afford their 2019 budget.

Major Newspapers have more on this story:

Sun Newspaper: 28 states can’t fund 2019 budgets –NEITI

The Nigeria Extractives Industries Transparency Initiative (NEITI) released data in their NEITI Quarterly Review that shows 28 states cannot afford their 2019 budgets with the Internal Generated Revenue (IGR) from 2017 and 2018.

Also only eight states like Lagos, Delta, Enugu, Kaduna, Yobe, Kano, Rivers and Nasarawa can afford their 2019 budgets from their 2017 nad 2018 IGR.

Meanwhile the 28 states that would not be able to afford their budgets are Abia, Adamawa, Akwa Ibom, Anambra, Bauchi, Bayelsa, Benue, Borno, Cross River, Ebonyi, Edo, Ekiti, Gombe, Imo, Jigawa, Katsina, Kebbi, Kogi, Kwara, Niger, Ogun, Ondo, Osun, Oyo, Plateau, Rivers, Sokoto, Taraba , Zamfara

The drop in oil prices has affected Federation Accounts Allocations Committee (FAAC) and only Yobe State can fund its 2019 budget from FAAC disbursements.

However, NEITI has said the budgets for states are “largely too optimistic” and added hat there are wide disparities in the net FAAC disbursements to states.

Guardian Newspaper: Untrained personnel, others threaten safety in local aviation

Despite the three years of no air accidents, the need for proper training of air personnel cannot be overemphasized. From cases of untrained pilots and engineers, unqualified airport workers, lack of infrastructure at the airports and power supply issues.

Although most of these issues are blamed on lack of funding. The Nigerian Civil Aviation (NCAA) has been asked to step up to attend to critical areas affecting the country’s aviation.

The NCAA has promised to enforce compliance with safety rules for a better and safer aviation.

Punch Newspaper: We pay ransoms to bandits daily, Zamfara LG chief tells minister

Alhaji Sani Galadima, the Vice- Chairman of Shinkafi Local Government Area of Zamfara State told the Minister of Interior, Gen Abdurrahman Dambazau that the council pays millions of Naira as ransom to bandits daily.

On Monday six members of the Civilian Joint Task Force were killed in the area. The Minister visited Zamfara  State to access the security threat and the challenges the people are facing.

The minister warned the bandits operating in Zamfara to either surrender immediately or be killed.

Dambazau said the Federal Government had made adequate arrangements on how best to tackle banditry and other insecurity issues affecting the state.

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