Poverty report will be used for resource allocation- FG
The Federal Government said on Thursday that Nigeria’s Multidimensional Poverty Index (MPI) report will be used as a policy tool for targeted resource allocation.
Prince Clem Agba, the Minister of State for Budget and National Planning, said this at the inauguration of the 2022 MPI Report in Abuja, organised by the National Bureau of Statistics.
Agba noted that the sub-national MPI, which was conducted across the 109 editorial districts, was targeted at finding out why there was a disconnect between available social welfare opportunities and their uptake.
“The MPI is aimed at influencing design and implementation of projects and also to be used as a policy tool for targeted resource allocation.
“The 2022 Nigeria Multidimensional Poverty Index is not just another poverty measurement tool but one useful for influencing policies.
“This report provides a more comprehensive view of poverty by not only revealing who is poor, but in what way, and to what degree of intensity.
“This had turned it into a very practical resource for addressing the problem of poverty in all its forms and dimensions.
“The 2022 MPI survey results, therefore, equip us with valuable information available for the first time in our country to adequately and judiciously utilise in designing and implementing more efficient policies and programmes that effectively address poverty in a multidimensional way.”
The minister added that the official flag-off of the survey took place in August 2021, with the first sub-national MPI survey being completed in February 2022.
Read also: FG moves to boost growth in livestock sector
Matawalle presents N188.8bn 2023 budget for Zamfara
Gov. Bello Matawalle of Zamfara on Thursday presented a budget of N188.872 billion for 2023 to the State House of Assembly for approval.
Matawalle, speaking at the presentation of the budget, said that the budget is made up of N102.5 billion in recurrent expenditure and N86,308 billion in capital expenditure.
He added that the budget was designed to enable the government to adequately mobilise resources to contain the security challenge affecting the state.
“To this end, the sum of N20 billion has been budgeted for the security sector.
“Similarly, to enable us to respond to humanitarian challenges arising from banditry and related crimes, we are devoting the sum of N10.8 billion for humanitarian services,” Matawalle said.
According to him, the government has made a substantial allocation for the education subsector to the tune of N21.2 billion, while the health sector has been allocated N18.4 billion.
” Also, agriculture is allocated the sum of N4,867,000,000 for 2023,” he said.
Matawalle said the government had earmarked funds for the completion of ongoing projects across the state in the budget.
” We also intend to undertake the following projects during the year 2023:
“Provision of relief materials for the victims of banditry, flood, and other disasters has been earmarked the sum of N8.3 billion
“Completion of Gusau International Airport, which is earmarked the sum of N4 billion.
“Construction of an Ultra-Modern Stadium & Hotel in Gusau, which is expected to cost N5 billion,” he said.
2023: Ohaneaze promises to work for Peter Obi presidency
Chief Emmanuel Iwuanyanwu, Chairman, Ohanaeze Council of Elders, said the organisation was in full support of the presidential ambitions of Peter Obi, the Labour Party’s 2023 presidential candidate.
He said this on Thursday in Abuja while speaking with journalists at the end of a meeting of the council’s Finance and Development Committee.
According to NAN, Iwuanyanwu added that the forum of the South-East, South-South, and Middle Belt worked hard to bring the presidency to the South-East because they agreed that it was the right thing to do.
“Many of them still believed that it is still the turn of Ibos, and in their wisdom, they said the presidency should be brought to the South-East.
“They have taken a common position to support Peter Obi and of course, we Igbos in Ohanaeze feel very happy.
“The truth is that Ohanaeze Ndigbo Worldwide is a part of the agreement by the Southern and Middle Belt Forum to endorse the candidacy of Peter Obi,” he said.
According to Iwuanyanwu, the South East, South South, and Middle Belt have agreed to work to enthrone a Peter Obi presidency for equity and justice in 2023.
U.S. House Speaker Pelosi wraps up leadership career
Nancy Pelosi has decided to step down from her congressional leadership role.
During her time as congressional leader, she became the only woman to serve in the powerful post of U.S. House of Representatives speaker, showed an ability to pass major legislation, united fractious fellow Democrats, and challenged some of the world’s most powerful men.
Pelosi, an 82-year-old liberal from California, on Thursday announced she would give up her House leadership role but remain in the House, representing San Francisco as she has done since 1987. This is according to Reuters.
Pelosi’s move followed her party’s loss of control of the House to Republicans in last week’s midterm elections.
During her time as congressional leader, she presided over the House as it twice impeached Trump (although he was acquitted by the Senate both times) and warned of the imminent threat she said the businessman-turned-politician posed to American democracy.
Oil heads for sharp weekly loss
WTI crude futures rose above $82 on Friday morning, but were set to fall for the week as weak demand outweighed supply-side concerns.
According to tradingeconomics, the US oil benchmark dropped by 8 percent this week, a situation that was caused by concerns that aggressive monetary tightening by major central banks could tip the global economy into recession, hurting energy demand.
In addition to interest rate hikes and the fear of a recession, a COVID-19 resurgence in China has harmed global energy demand by affecting demand from the country.
