Actor, Model and Television presenter, Uti Nwachukwu has
openly apologised to his mentor, Jim Iyke for making a joke yesterday
around him, his former girlfriend, Nadia Buari and her twins. Apparently Jim
Iyke must have gotten in touch with him directly or sent an associate to him to
say the joke was rude. Uti has taken down the video and openly apologised to
him few mins ago. Talk about listening, humility, lol… some people I know won’t
apologise or take it down ooo (hahaha trouble makers). Oya read what he wrote
below…
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Dr. Ngozi Okonjo-Iweala, the Minister of Finance and Co-ordinating
Minister for the Economy, yesterday, put to rest fears of immediate
removal of fuel subsidy, as she confirmed that N145.2 billion provision
was made for it in 2015 budget. Speaking to newsmen in Abuja as reported
by Vanguard, she said: “I want to clarify that there has been some
misinformation that has gone around in the media about the fact that the
National Assembly passed the 2015 budget without provision for fuel
subsidy. It is not true.
“It is important that you note that the National Assembly approved
provisions of N100 billion for PMS (Petroleum Motor Spirit, otherwise
called petrol) and N45.2 billion for kerosene subsidy. So, it is not
true that they passed the budget without provision for subsidy.”
How that budgetary provision would meet the needs would be a challenge
for the in-coming Gen. Muhammadu Buhari administration in the months
ahead.
The minister emphasized that managing the economy since the crash in oil
prices had been very tough for her team which had to adopt various
strategies to keep the economy running.
She said: “As you know, I have been honest with you since the current
economic problems started. I would like to repeat: we have serious
challenges, things have been tough since the beginning of the year and
they are likely to remain so till the end of the year. We have serious
challenges but we also have strengths and if we do the right things we
can keep a steady course and emerge out of the current situation.
“As a result of the 50 per cent decline in oil revenues, the country has
faced a difficult cash crunch and the Federal Government has focused on
keeping the economy stable and the government running through a series
of measures. We have front-loaded the borrowing programme to manage the
cash crunch in the economy.
“In January we had a deficit in terms of the money we had and the
expenditure we had to carry out. So we had to borrow to add to what we
had. In February, it was the same.
“In March, we were able to have more internally generated revenue that
enabled us to offset but in April, we had to borrow to cover up some
gap. This is how we have been managing the economy on a month-by-month
basis.”
Okonjo-Iweala said the Federal Government had already utilised more than
half of the budgetary provisions for borrowing in the year, in the
first four months to pay salaries and provide funds for overheads.
Govt borrows N473bn to meet up with recurrent expenditure
She said: “Of the N882 billon budgetary provision for borrowing, the
government has borrowed N473 billion to meet up with recurrent
expenditure, including salaries and overheads. No capital release so
far.
“Traditionally, the first part of the year witnessed low revenue because
tax receipts come in from the middle of the year. This has compounded
the challenges caused by the steep drop in revenues due to the oil price
fall. As a consequence of the revenue challenges, there has been no
capital budget release so far this year but we have kept the recurrent
expenditure going.”
- See more at: http://afikpochic.blogspot.com/2015/05/jonathan-borrowed-n473b-to-keep-nigeria.html#more
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