…As NEC blames lack of funds for poor immunization campaigns
The Federal Government has begun moves to recover the sum of N614 billion advanced to 35 states as budget support facility.
Minister of Finance, Budget and National Planning, Zainab Ahmed, made the disclosure at the press briefing at the end of the over three hours of the National Economic Council meeting, presided over by Vice President Yemi Osinbajo, at the Council Chambers of the Presidential Villa.
Recall that Vice President Yemi Osinbajo had disclosed that the President Muhammadu Buhari administration has in the past three years, intervened through loans, bailouts and Paris Club refunds to states to the tune of well over N1.1 trillion.
He had urged the governors as a retreat for the newly elected governors to think outside the box to boost their states Internally Generated Revenue (IGR) to enable them meet the demands of the N30,000 new minimum wage among others.
Osinbajo had said no complaint about paucity of funds from the governors and newly elected ones is new under the sun, said that
At the briefing of State House Correspondents at the end of the 96th NEC meeting and the fourth for the year 2019, the minister said, her ministry reported to council an update on the budget support facility to states.
According to her: “As at today, the budget support facility advanced by the Federal Government to the states, is a total sum of N614 billion and this is to 35 states.
“This means an equivalent is N17.5 billion per state. Council agreed to constitute a team of the Nigeria Governors Forum (NGF), Ministry of Finance and the Central Bank of Nigeria (CBN), to finalize modalities to commence repayment of these facility to the Central Bank.”
According to her, “Macro-economic stability has been achieved with growth in end Q3 2019 at 3.01%, even as Real GDP continues to increase from 1.89% in Q2018 to 2.01% in 2019.
The Minister said there has been significant growth in non-oil sector, with contributions to GDP increasing from 90.4% in Q1 2018 to 90.9% in Q1 2019.
Ahmed called for policies that will promote diversification and inclusive growth, as well as check unemployment, currently standing at 20.1% as at Q3 2018.
“Inflation has continually decline since 2017 from 18.72% to 11.08% in July 2019, draft 2020 – 2022 Medium Term Fiscal framework indicates that Nigeria faces significant medium term fiscal challenges especially with respect to revenue generation.
Ahmed also gave the balances on two special accounts, the Stabilization Fund Accounts and Natural Resource Development Fund which have combined balance as at 20th August of $95,329,245.24.
She said: “The Stabilization Fund Account which has a balance of N21, 729,976,810.66 and Natural Resource Development Fund which has N95,896,886,829.69.”
She said the Adhoc Committee on Excess Crude and other special accounts of the federation requested for an extension to finalize its report and report to NEC meeting.
Ahmed said her ministry also reported to Council the Medium Term Expenditure Framework and the Fiscal Strategy Paper for 2020-2022.
She said the Nigerian Micro economic environment has stabilized as is gradually recovering and that since the nation came out of recession, it has had eight quarters of successive economic growth and that the EGRP still remains the basis for the medium term strategy.
Ahmed said attaining macro stability has been achieved
Edo State Governor, Godwin Obaseki, said the council noted that it’s been three years without a case of Wild Polio Virus (WPV) in Nigeria. He said NEC noted some of the challenges facing the immunization campaign, are the lack of release of counterpart funds by the Local Government Chairman as one of the key problems in achieving successful routine immunization and insecurity concerns in parts of the of country.
Obaseki said the Minister of health requested Council to: “Convey the meeting of the Presidential Task Force on Immunization; Sustainability of political oversight by the political class; Establishment and re-activation of State Task Force on immunizations; Quarterly release of appropriated funds for Routine Immunization and other Primary Health Care Activities; Timely release of funds by the States and LGAs for immunization campaigns.
Nasarawa State Governor Abdullahi Sule, said the NEC committee on export promotion led by the Jigawa State, Badaru Abubakar gave an update.
He said: “The report is sequel to the Zero Oil Plan, envisioned in the Economic Recovery and Growth Plan (ERGP) which is developed by the Nigeria Export Promotion Council (NEPC).
The plan details the Non-Oil export sector as the last line of defense for the Nigeria Economy. The implementation of the plan is expected to yield results in 3 key areas: Add an extra UDS150 billion (minimum) to Nigeria’s foreign reserves cumulatively from non- oil exports over the next 10 years; Create 500, 000 jobs annually; ans lift 20 million Nigerians out of poverty, contributing towards SDG-‘’ No Poverty’l.”
He reported that the committee has recorded the following achievements: Designed an implementation Plan for Project implementation; Harmonized Export Development Plan Submitted by states; Identified Projects based on the Implementation Plan and States Submissions; Set- up Templates and Schematics for Domestic Export Warehouse and Anchor Programme for Exporters; Provide processing equipment and conducted Capacity Building Programme on Strategic Products in the Zero Oil Plan in Kaduna, Benue, Ondo, Edo and Imo States. The products are Palm oil, Soya Beans and Ginger; and Identify Companies for the Domestic Export Warehouse and Aggregation Centre for exportable products.
Others are “Non- oil exports (excluding natural gas) have risen from U$1.17 billion in 2016 to US$3.16 billion in 2018 meaning that Strategic sectors identified in the Zero Oil Plan have seen growth. For instance, cocoa exports have risen by $79.4 million since 2017, while sesame exports have also increased by $153 million since 2016 – an increase of more than 100% (source: International Trade Centre).
“The plan has identified the creation of five million jobs to date directly supported by no-oil exports, with efforts underway to increase this by 500,000 new jobs annually in line with SDG 8 – “Decent work and Economic Growth”
“A state Export Development Fund has also been created through N50bn debenture to be disbursed by NEXIM, in which the Central Bank of Nigeria (CBN) has invested. The Fund offers long –term loan at single digit interest rate to qualifying export-oriented projects under the State Export development Programme and the Anchor exporter scheme.”
The Council agreed to include the Minister of Foreign Affairs as a member of the Committee; States can freely change their focal persons in the Committee and Council to follow-up on obligation of the Nigeria Maritime Administration and Agency NIMASA regarding the financing of Nigerian Export Promotion Council (NEPC).
