Connect with us

latest

“Outrage In Kogi As ₦2 Billion Spent on Governor’s House While Debt Skyrockets”.

Published

on

According to Nivo News, Kogi State has come under public scrutiny after its 2026 draft budget revealed plans to spend over ₦2 billion on the remodelling of the Government House and related projects, despite mounting concerns over the state’s rising debt and weak revenue base. The draft budget allocates ₦1.015 billion for extensive renovations of the Government House structure, alongside ₦1 billion for minor capital works to be executed through direct labour.....KINDLY READ THE FULL STORY HERE▶

In addition, the budget earmarks ₦500 million for the construction of residential apartments for members of the State House of Assembly and the head of legislative services. The project is described as being on an “owner-occupier basis,” implying that lawmakers would eventually take ownership of the houses built with public funds.

The planned expenditure has drawn criticism, particularly against the backdrop of Kogi’s growing debt servicing obligations. A review of the state’s Medium-Term Expenditure Framework for 2025–2027 indicates that more than 80 per cent of internally generated revenue (IGR) will be committed to debt servicing. The state is projected to generate ₦35.1 billion in IGR for both 2025 and 2026, with debt servicing expected to consume ₦27.9 billion and ₦28.2 billion respectively. By 2027, debt service is projected to rise to ₦28.5 billion, representing 81.1 per cent of projected revenue.

The MTEF warned that Kogi’s financial position remains fragile, with a “very high risk” that the state’s ability to meet debt obligations may be unexpectedly weakened due to lower-than-expected revenue, higher expenditures, or an unforeseen increase in liabilities. The framework also highlighted the state’s weak revenue robustness, largely driven by socio-economic challenges and heavy reliance on volatile federal allocations, including VAT and statutory transfers. Internally generated revenue accounts for less than 20 per cent of total operating revenue, significantly below the Nigerian states’ average.

A review of the first half of 2025 budget performance showed that ₦28.1 billion was spent on debt servicing between January and June, surpassing allocations to several critical sectors. Combined expenditure by the Ministry of Works and Planning, the Road Maintenance Agency, and the state fire service was ₦17.2 billion, while the Ministry of Water Resources received ₦1.4 billion, Education ₦20.3 billion, and Health ₦12.3 billion. Notably, the 2025 budget had also earmarked ₦7 billion for the purchase of 60 vehicles for ministries, departments, and agencies.

Residents and analysts have expressed concern over the state government’s spending priorities, questioning its commitment to fiscal prudence and responsible management of public resources amid dwindling revenues and mounting debt obligations.

Advertisement

latest

World Cup Shockwave! Unstoppable Cape Verde Storm Into Knockout Stage Unbeaten!.

Published

on

Cape Verde has achieved historic success in their World Cup debut, advancing to the Round of 32 after an unbeaten group stage performance. Despite finishing second in Group H with five points, they secured their progression following a goalless draw with Saudi Arabia and a 1-0 victory by Spain over Uruguay. The team, which also drew with Spain and Uruguay, is now set to face Argentina in the knockout stage.....KINDLY READ THE FULL STORY HERE▶

In other Group H action, Spain clinched the top spot by defeating Uruguay 1-0 in a physical match decided by a goalkeeping error, ultimately eliminating Uruguay from the tournament.

Additional developments from the 2026 World Cup include:

  • Belgium: Secured their place in the knockout rounds by topping Group G after a 5-1 victory over New Zealand, featuring two goals from Leandro Trossard.

  • Egypt and Iran: Drew 1-1 in a Seattle match that featured a Pride-themed display.

  • France: Topped Group I with a 4-1 win over Norway, highlighted by a first-half hat-trick from Ousmane Dembélé.

  • Senegal: Earned a 5-0 victory against 10-man Iraq, keeping their hopes alive for progressing as one of the best third-placed teams.

Continue Reading

latest

Senate Race Shocker! AAC Candidate Abruptly Quits, Sending Shockwaves Through Anambra Politics!.

Published

on

Chioma Ifemeludike, the former African Action Congress (AAC) senatorial candidate for Anambra Central, has officially withdrawn from the 2027 election race. Ifemeludike, who also serves as the AAC Deputy National Chairperson for the South-East, communicated her decision to the party’s Acting National Chairperson via a formal letter.....KINDLY READ THE FULL STORY HERE▶

Following her selection through a consensus arrangement during the party’s primary election in May, her withdrawal includes several key points:

  • Formal Resignation: Ifemeludike has requested that the party’s National Working Committee remove her name from all official records, processes, and activities associated with the Anambra Central senatorial ticket.

  • Commitment to Principles: She stated that her decision is rooted in a commitment to accountability, justice, and the protection of vulnerable individuals.

  • Influencing Factors: Her choice was significantly impacted by recent events involving Doris Ogala Umezurike and the case of Baby Testimony and his physically challenged mother.

  • Shift in Focus: Ifemeludike expressed that the handling of that case raised concerns about justice and public treatment, prompting her to abandon her political candidacy to focus on advocacy for the vulnerable.

Continue Reading

entertainment

“She’s My Secret Weapon!” Deyemi Okanlawon Reveals His Wife Is His Ultimate Support System!

Published

on

Nollywood actor Deyemi Okanlawon recently opened up about his approach to managing pressure and his sources of emotional support during challenging times. During an interview with Dear Ife, he explained the following:....KINDLY READ THE FULL STORY HERE▶

    • His Wife as Support: While he considers his wife a primary source of comfort, he is mindful not to overburden her, given her professional and domestic responsibilities. However, when stress becomes overwhelming, he does not hesitate to wake her at night for support.

    • A Broader Support Network: Okanlawon does not rely solely on his wife; he has cultivated a support system that includes close friends, mentors, and a therapist to provide guidance and relief.

    • Perspective on Mental Well-being: He encourages men to avoid bearing their burdens in isolation, emphasizing the necessity of finding healing and recognizing that one person cannot handle everything alone.

    • Role as a Protector: Describing his duty to protect those around him, he noted that he naturally steps up during crises, but stressed that one must be self-aware enough to prioritize healing.

Continue Reading

Trending

Copyright © 2023 NIVONEWS