Defence, Security sector get 13.4% of 2023 budget
The defence and security sectors have been allocated N2.98 trillion, or 13.4 percent, of the 2023 budget.
Zainab Ahmed, the Minister of Finance, Budget, and National Planning, stated this during a public presentation and breakdown of the approved 2023 budget of the Federal Government of Nigeria on Wednesday in Abuja.
She said that the amount, which includes recurrent and capital expenditures, is provisioned for the military, police, intelligence, and paramilitary.
According to the Approved 2023 Federal Government of Nigeria Budget, the allocations are referred to as “critical sectoral allocations” in the budget.
Meanwhile, other critical allocations include the N1.24 trillion allocated to the provision of critical infrastructure such as works and housing, aviation, power, transport, and water resources. This amount takes up exactly 5.7 percent of the budget, while social development and poverty reduction programmes consume N809.32 billion, or exactly 3.7 percent of the budget for 2023.
This amount is provisioned for several social investments and poverty reduction programmes.
Read also: Buhari signs N21.83trn 2023 budget
FG spent N12.87trn in 2022 – Minister
The Federal Government said it spent N12.87 trillion against the prorated N13.604 trillion spending target of N16.63 trillion at the end of November 2022.
Zainab Ahmed, Minister of Finance, Budget, and National Planning, made this known at the public presentation and breakdown of the approved federal government’s 2023 budget on Wednesday in Abuja.
Ahmed said out of the N12.87 trillion, N5.24 trillion was for debt service and N3.94 trillion was for personnel costs.
While Statutory Transfers, Overhead and Service Wide Votes expenditures totaled N1.81 trillion; and N1.88 billion was released for capital expenditure.
Obasanjo griefs over AfDB President Adesina mother’s death
Former President Olusegun Obasanjo sent his condolence message on Wednesday to Dr. Akinwunmi Adesina over the death of his mother, Eunice Adesina.
In a letter addressed to Adesina, the former president eulogised the late Eunice over her dedication to family and the body of Christ.
He said the deceased, who passed away on December 22, 2022, at the age of 92, lived a fulfilled life, adding that her impact on her family was evident in the achievements of her children.
“It is with sadness that I read of the passing on to glory of Mama, Chief, Mrs. Eunice Adesina.
“On behalf of my family, please accept our profound condolences and prayers as you go through the permanence of her absence.
“The loss of a mother is never an easy moment to bear; you should, however, be consoled as she lived a life of lessons, hard work, and dedication,’’ he said.
PM Sunak vows to tackle Britain’s most serious problems
In a televised speech on Wednesday, British Prime Minister Rishi Sunak promised to tackle Britain’s most serious problems, from cutting inflation to reducing illegal migration.
Sunak said his government would build “a better future for our children and grandchildren” and made the public demand that Britons judge him on “the results we achieve.”
He listed “five promises”: halving inflation, growing the economy, reducing debt, cutting National Health Service waiting lists, and stopping the small boats that carry illegal migrants across the Channel from France.
Sunak said his plans would build a stronger country.
“Those are the people’s priorities. They are your government’s priorities. And we will either have achieved them or not… So, I ask you to judge us on the effort we put in and the results we achieve,” he said.
Sony, Honda to roll out prototype of ‘Afeela’ EV that will use Qualcomm tech
Japan’s Sony and Honda on Wednesday unveiled a prototype of the new “Afeela” electric vehicles, which would use a digital chassis from hardware maker Qualcomm Inc.
According to Reuters, the prototype, announced at the CES 2023 technology trade show in Las Vegas, marks Sony’s attempt to stake a claim in the fast-growing market for electric vehicles.
Sony also looks set to harness its content for entertainment inside the cars, as well as its long-standing strength in sensors.
The Afeela, which sported rounded corners and a sleek black roof, will use more than 40 sensors, Yashuhide Mizuno, the chief executive of Sony Honda Mobility, told the trade show.
The joint venture between Sony Group Corp. and Honda Motor Co. Ltd. aims to deliver its first electric vehicles by early 2026 in North America.
