News
FG Pumps N400Bn for Q1 Capital Projects
The Federal Government has begun the implementation of the 2013 budget with the release of N400 billion for the execution of capital projects in the first quarter of the year, a quarter that will run out in a few days.
Mr. Paul Nwabuikwu, senior special assistant (Communications) to Dr. Ngozi Okonjo-Iweala, minister of Finance, said in a statement that the release was to give impetus to the execution of projects captured in the budget.
The 2013 budget was signed into law by President Goodluck Jonathan on February 26 after argument swung left and right.
The 2013 budget makes provision for an aggregate expenditure of N4.987 trillion, representing an increase of 6.2 per cent over the N4.697 trillion appropriated for 2012.
Jonathan had while signing the budget said an amendment bill would be sent to the National Assembly to address grey areas in the one passed by the legislature.
The identified grey areas include reduction in personnel cost; reallocation of capital expenditure by lawmakers; and reallocation of the budget for the Subsidy Reinvestment and Empowerment Programme.
But Okonjo-Iweala, said that of the amount released that some N120billion had been set aside to cater for two important initiatives.
They are N75 billion for the repayment of bonds and N45bn for the payment of workers of the Power Holding Company of Nigeria.
The N75 billion for repayment of bonds, according to the minister, is in line with the new debt management strategy of the Federal Government.
The strategy, she noted, would focus on how to reduce the stock and flow of debt in a proactive manner.
The statement read in part, “The Federal Ministry of Finance has released the sum of N400bn as first capital budget to give impetus to the execution of projects captured in the budget 2013.
“Of this amount, N120bn had been frontloaded to cater for two important initiatives; including N75 billion for retiring bonds, which have come due; this is in line with the new debt management strategy, which focuses on reducing the stock and flow of debt in a proactive manner; and N45bilion for the payment of PHCN workers.”
Okonjo-Iweala had last week during a presentation on the 2013 budget said the government remained focused on critical economic and social sectors driven largely by private sector activities.
To achieve this, she had said N497 billon was allocated to key infrastructure, including power, works, transport, aviation, gas pipelines and Federal Capital Territory; human capital development (education and health), N705bn; and agriculture/water resources, N175 billion.
She had said, “We recognise that Nigeria’s infrastructure deficit remains one of the binding constraints to growth in the economy. Therefore, our strategy is to prioritise infrastructure investments in the budget and also to leverage additional external financing for infrastructure investments in the country.
“For example, the 2013 budget has some important infrastructure projects in the transportation sector such as the second Niger Bridge.”
She also said the Federal Government’s would further reduce annual domestic borrowing as well as defray the debts of Nigeria’s foreign missions.
Okonjo-Iweala said, “We are also making concerted efforts to defray the debts of our foreign missions. In this context, we have made a provision of N13billion in the 2013 budget to help clear the accumulated debts as at the cut-off date of June 2012.
“Government has also established a committee under the chairmanship of the Minister of Foreign Affairs, which will work out a system to better manage the assets of our foreign missions.”
Accelerating artificial intelligence (AI) adoption could increase Africa’s GDP by up to 4% over the next decade, according to the International Monetary Fund (IMF).
In a report released on Tuesday, titled Africa Can Grow Faster With AI—If It Moves Now, economists from the IMF’s Africa Department say current levels of AI adoption and utilisation are expected to contribute just 0.2% to the region’s GDP over the next 10 years.
However, the report says stronger adoption, supported by the right infrastructure and policies, could raise the economic impact to about 4% by extending AI beyond today’s digitally connected firms.
Martin Schindler and other IMF economists say: “AI adoption in sub-Saharan Africa currently lags well behind every other region. If richer economies race ahead while African firms and governments lag, the productivity gap between the region and the rest of the world will only widen.”
Early signs of AI adoption are emerging across Africa, with countries including Zimbabwe, Kenya, Egypt and Nigeria developing AI strategies.
Telecommunications operators, including Vodacom, Econet, Africell and MTN, are also integrating AI into their operations and networks.
Other examples include chatbots supporting teaching and learning in Nigeria and the South African Revenue Service’s use of data analytics for targeted tax audits.
However, the IMF says AI adoption must extend beyond these early use cases to deliver meaningful economic benefits.
“For the region, AI’s main promise is not about replacing office workers, but boosting productivity across the economy—helping informal firms manage inventory, enabling farmers to increase yields, and supporting mid-sized firms to transition to formality and export readiness,” the report reads.
The IMF is urging governments to prioritise investment in reliable electricity, affordable broadband, data infrastructure and digital skills to support wider AI adoption.
Many African countries, including Zimbabwe, Kenya, Ghana, Nigeria and Cameroon, continue to face electricity shortages, while broadband services remain costly and coverage is uneven.
The Fund believes stronger investment in power, connectivity, regional data infrastructure and digital skills would help unlock AI’s economic potential.
National Population Commission (NPC) has commenced the nationwide digital registration of births and deaths under the Electronic Civil Registration and Vital Statistics (E-CRVS) system to strengthen legal identity management and improve demographic data.
Speaking at a press briefing in Lokoja on Tuesday, Mr Afolabi Yori, federal commissioner representing Kogi, said the initiative became operational nationwide on July 1, through the VitalReg platform.
Yori described the development as a landmark in Nigeria’s civil registration system, noting that it would modernise birth and death registration through a technology-driven platform that meets international standards.
He said the digital platform would improve service delivery, strengthen data integrity and ensure that every birth and death occurring in Nigeria was accurately documented and securely stored.
According to him, civil registration is more than an administrative process, as it provides reliable statistics that support public policy formulation, resource allocation and national development planning.
“Nigeria records an estimated five million births annually, yet millions of births and deaths remain unregistered.
“Birth registration coverage currently stands at about 57 per cent nationwide, while death registration remains below 20 per cent,” he said.
The commissioner said that the commission had established 4,011 functional registration centres across the country’s 774 local government areas and was working to expand the number to about 8,000.
He added that the commission was strengthening collaboration with stakeholders to improve the capacity of registration personnel and ensure prompt documentation of vital events through the VitalReg platform.
Yori said the platform would provide faster registration services, 24-hour online access, digital certificate issuance where applicable, and reduce paperwork, waiting time and unnecessary travel.
He disclosed that the platform was being operated under a Public-Private Partnership with Barnks-forte Technologies Ltd. as the commission’s technical partner to ensure system availability, cybersecurity and continuous technological improvement.
He called on parents, healthcare institutions, traditional and religious leaders, civil society organisations, development partners and the media to support the initiative by encouraging the prompt registration of births and deaths.
Earlier, Samuel Omonakpeme, director in Kogi, NPC State, described the commencement of the digital registration system as another milestone in efforts to strengthen Nigeria’s Civil Registration and Vital Statistics system.
Omonakpeme stated that the initiative aligns with the Federal Government’s digital transformation agenda and the Sustainable Development Goals, particularly Goal 16.9, which seeks to provide legal identity for all.
He appreciated the Federal Government, the leadership of the commission, UNICEF and other development partners for supporting the implementation of the initiative.
The state director also urged parents, guardians, health institutions, community leaders, religious organisations and the media to mobilise public support for the timely registration of all births and deaths.
The News Agency of Nigeria (NAN) reported that ICT personnel of the commission, led by Ehimoni Kolawole, conducted a live demonstration of the digital birth registration process using the VitalReg platform.
The demonstration showed that the registration process captures the biodata of both parents, while at least one parent must possess a valid National Identification Number (NIN) to complete the registration of a newborn.
Yola Electricity Distribution Company (YEDC) has alerted its customers to a fraudulent message circulating on social media, falsely claiming that electricity consumers can receive an additional 20 per cent bonus units when recharging their prepaid meters through unofficial channels.
In a statement issued by the company’s management on Monday, YEDC described the claim as false and urged customers to disregard the misleading information, stressing that it did not originate from the company.
According to the statement, YEDC does not offer bonus electricity units through individuals, agents, personal bank accounts, phone numbers, or social media contacts.
The company advised customers to purchase electricity tokens only through approved cashless payment platforms, including the YEDC Pay App, OPay, Interswitch, and other authorised vending channels, or to visit the nearest YEDC office for assistance.
YEDC also cautioned customers against sharing their meter details or personal information, or making payments to unauthorised persons claiming to represent the company.
The company further urged customers to rely exclusively on information disseminated through its official communication channels to avoid falling victim to fraud.
The management thanked customers for their continued cooperation and reaffirmed its commitment to serving them.
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