The Minister of Budget and National Planning, Senator Udoma Udo Udoma, on Tuesday in Abuja, emphasised that the Federal Government is determined to improve its revenue generation this year and has already taken a number of steps in that direction.
While briefing the House of Representatives Joint Committee on Finance, Appropriation, Planning and Economic Development on the 2019 revenue and expenditure projections as contained in the Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) 2019-2021), the Minister stated that one of the reasons it could not realize its revenue target for 2018 was that some one-off items listed for implementation in the fiscal year were not actualized.
But he said those items which include the N710 billion from Oil Joint Venture Asset Restructuring and N320 billion from revision of the Oil Production Sharing Contract Legislation/terms have been rolled over to 2019.
Among other initiatives aimed at expanding the fiscal space, the Minister indicated that the Federal Government will intensify efforts to improve public financial management through the comprehensive implementation of the Treasury Single Account (TSA), the Government Integrated Financial Management Information System (GIFMIS) and the Integrated Payroll and Personnel Information System (IPPIS).
Also the Department of Petroleum Resources has been directed to, within three months, complete the collection of past-due oil license and royalty charges, including those due from Nigerian Petroleum Development Company (NPDC) (a subsidiary of NNPC), which it had agreed to pay since 2017.
THE Minister said the Ministry of Finance, working with all the relevant authorities, has been authorized to take action to liquidate all recovered, unencumbered assets within six months.
Amongst other revenue generating initiatives, he said the President has directed that work should be immediately concluded on the deployment of the National Trade Window and other technologies to enhance customs collections efficiency from the current 64 percent to up to 90 percent over the next few years.
He indicated that in spite of the challenges that militated against the realisation of targeted revenues, the revenues generated in 2018 showed a significant improvement over 2017. He said that he expects further improvement this year with the sustained implementation of the prescriptions of the Economic Recovery and Growth Plan (ERGP).
The Minister explained that the ERGP guides allocations in the Federal Government budget because it sets out the key execution priorities of government for the growth and development of the economy. Government, he added, is encouraged by the results so far attained after implementing the Plan for about two years.
He said the economy has exited from recession and is on the path of growth, even though it takes time for the impact to be fully felt by a significant number of people. “It takes time, and will take some more efforts but we will keep working on it so as to fully realize the objectives of the ERGP. The implementation of the ERGP will create growth and jobs and reduce poverty,”, he assured.
Explaining the basis for some of the assumptions in the MTEF/FSP, the Minister said the oil price benchmark was arrived at after extensive consultations with industry experts and consultants; and he indicated that he believes that the $60 per barrel projected for 2019 is achieveable. He noted that oil was currently trading at about US$67.
On the limitation imposed by OPEC production quota, the Minister also explained that there is no quota set for condensates by OPEC. Nigeria, he said, could use condensate production to augment its production. “Mr. President has directed the NNPC to take all possible measures to achieve the targeted oil production of 2.3 million barrels per day”, he added.
The Minister told the Committee that the 2019 Budget proposals, which are based on the MTEF/FSP seek to continue the reflationary and consolidation policies of the 2017 and 2018 Budgets respectively, which helped restore the economy back on to the path of growth.
He explained that in allocating funds in the 2019 budget proposals, priority was given to critical infrastructure projects.
Others who made presentations before the Committee include the Minister of Finance, Mrs Zainab Ahmed; Chairman FIRS, Mr Tunde Fowler; Accountant General of the Federation, Ibrahim Idris; Director General of the Debt Management Office, Patience Oniha, Comptroller General of Customs Col. Ali; representatives of the Central Bank Governor and the Group Managing Director of NNPC. The Director General of the Budget Office of the Federation, Mr Ben Akabueze, was also at the meeting.
Wow, I had never thought about it in that way before You have really opened my eyes to a new perspective Keep up the great work!
I appreciate the effort that goes into creating high-quality content, and this post was no exception. The insights and information were top-notch and made for a really engaging read. Keep up the great work!
Your writing style is so relatable and authentic It’s a breath of fresh air in a world filled with superficiality and pretense
Your positive and uplifting words are like a ray of sunshine on a cloudy day Thank you for spreading light and positivity in the world
Your blog has become my daily dose of positivity and inspiration It’s a space that I always look forward to visiting
This blog is a great resource for anyone looking to live a more mindful and intentional life Thank you for providing valuable advice and tips
Thank you for the amazing blog post!
Your blog is a treasure trove of wisdom and positivity I appreciate how you always seem to know just what your readers need to hear
From the insightful commentary to the captivating writing, every word of this post is top-notch. Kudos to the author for producing such fantastic content.
I appreciate how this blog addresses important issues in a respectful and informative manner It’s refreshing to see a blog use its platform for good
Your writing is so inspiring and motivating I always leave your blog feeling more determined and resilient
Keep up the incredible work! I can’t wait to see what you write next.
I completely agree with your perspective on this topic It’s refreshing to see someone presenting a balanced and thoughtful viewpoint
From the insightful commentary to the captivating writing, every word of this post is top-notch. Kudos to the author for producing such fantastic content.
The photographs and visuals used in this blog are always stunning They really add a beautiful touch to the posts
Your posts are so well-written and eloquent It’s impossible not to be moved by your words Keep using your voice to spread positivity
Keep up the fantastic work!
Thank you for sharing your personal experience and wisdom with us Your words are so encouraging and uplifting
You have a way of explaining complex topics in a straightforward and easy to understand manner Your posts are always a pleasure to read
Drop a link to your favorite blog post of yours in the comments below, I’d love to read more.
I am constantly impressed by the depth and detail in your posts You have a gift for making complex topics easily understandable
Your blog is always a highlight of my day
We just wanted to take a moment to acknowledge all the hard work and effort you’ve been putting in lately. Keep up the amazing job, you’re doing great!
We just wanted to take a moment to acknowledge all the hard work and effort you’ve been putting in lately. Keep up the amazing job, you’re doing great!
Your writing is so eloquent and heartfelt It’s impossible not to be moved by your words Thank you for sharing your gift with the world
I appreciate how this blog promotes self-growth and personal development It’s important to continuously strive to become the best version of ourselves
It’s always a joy to stumble upon content that genuinely makes an impact and leaves you feeling inspired. Keep up the great work!
I love how this blog covers a variety of topics, making it appeal to a diverse audience There is something for everyone here!
Your blog has quickly become one of my favorites I always look forward to your new posts and the insights they offer
From the insightful commentary to the captivating writing, every word of this post is top-notch. Kudos to the author for producing such fantastic content.
From the insightful commentary to the captivating writing, every word of this post is top-notch. Kudos to the author for producing such fantastic content.
Keep up the fantastic work and continue to inspire us all!
Love this blog! The content is always so relevant and insightful, keep up the great work!
From the insightful commentary to the captivating writing, every word of this post is top-notch. Kudos to the author for producing such fantastic content.
Your writing is so inspiring and motivating I always leave your blog feeling more determined and resilient
This blog is like a breath of fresh air in the midst of all the negativity on the internet I’m grateful to have stumbled upon it
Your positivity and enthusiasm are infectious It’s clear that you are truly passionate about what you do and it’s inspiring to see
Your blog has become a part of my daily routine Your words have a way of brightening up my day and lifting my spirits
Looking forward to your next post. Keep up the good work!
Keep up the fantastic work!
As a fellow blogger, I can appreciate the time and effort that goes into creating well-crafted posts You are doing an amazing job
Your passion for this topic shines through in your writing It’s clear that you put a lot of effort and thought into your posts Thank you for sharing your knowledge with us
It means so much to receive positive feedback and know that my content is appreciated. I strive to bring new ideas and insights to my readers.
This blog is a great mix of informative and entertaining content It keeps me engaged and interested from start to finish
Your blog has helped me become a better version of myself Your words have inspired me to make positive changes in my life
The topics covered here are always so interesting and unique Thank you for keeping me informed and entertained!
I appreciate how well-researched and informative each post is It’s obvious how much effort you put into your work
Your blog post had me hooked from the very beginning!
From the bottom of my heart, thank you for being a source of positivity and light in this sometimes dark and overwhelming world
I always find myself nodding along and agreeing with your wise words Your insights and advice are truly valuable
From the bottom of my heart, thank you for being a source of positivity and light in this sometimes dark and overwhelming world
Your writing style is so engaging and makes even the most mundane topics interesting to read Keep up the fantastic work
Love this appreciation for great content
Your posts always seem to lift my spirits and remind me of all the good in the world Thank you for being a beacon of positivity
I appreciate your creativity and the effort you put into every post. Keep up the great work!
Your positivity and enthusiasm are infectious I can’t help but feel uplifted and motivated after reading your posts
From the insightful commentary to the captivating writing, every word of this post is top-notch. Kudos to the author for producing such fantastic content.
Your blog post was really enjoyable to read, and I appreciate the effort you put into creating such great content. Keep up the great work!
This is exactly what I needed to read today Your words have given me a new perspective and renewed hope Thank you
What other topics would you like to see covered on the blog? Let us know in the comments!
Your vulnerability and honesty in your posts is truly admirable Thank you for being so open and authentic with your readers
As a fellow blogger, I can appreciate the time and effort that goes into creating well-crafted posts You are doing an amazing job
What type of content would you like to see more of in the future? Let us know in the comments!
Every time I read one of your posts, I come away with something new and interesting to think about. Thanks for consistently putting out such great content!
Your posts are so beautifully written and always leave me feeling inspired and empowered Thank you for using your talents to make a positive impact
Your positive energy and enthusiasm radiate through your writing It’s obvious that you are truly passionate about what you do
I appreciate how well-researched and informative each post is It’s obvious how much effort you put into your work
From the bottom of my heart, thank you for being a source of positivity and light in this sometimes dark and overwhelming world
This blog post has left us feeling grateful and inspired
What other topics would you like to see covered on the blog? Let us know in the comments!
Let’s spread the love! Tag a friend who would appreciate this post as much as you did.
Your honesty and vulnerability in sharing your personal experiences is truly admirable It takes courage to open up and I applaud you for it
The positivity and optimism conveyed in this blog never fails to uplift my spirits Thank you for spreading joy and positivity in the world
I just wanted to take a moment to say how much I appreciate your blog posts. They’re always well-written, informative, and keep me coming back for more. Keep up the great work!
Your writing has a way of making complicated topics easier to understand It’s evident how much research and effort goes into each post
What type of content would you like to see more of in the future? Let us know in the comments!
I am blown away by the depth and detail in your posts Keep up the excellent work and thank you for sharing your knowledge with us
I’ve been following this blog for years and it’s amazing to see how much it has grown and evolved Congratulations on all your success!
Your blog has become my go-to source for positive and uplifting content Thank you for consistently delivering high-quality posts
From start to finish, your content is simply amazing. You have a talent for making complex topics easy to understand and I always come away with valuable insights.
Your articles always make me think and reflect on my own life Thank you for prompting me to be introspective and make positive changes
This blog covers important and relevant topics that many are afraid to address Thank you for being a voice for the voiceless
Let me know what type of content you’d like to see more of in the future!
Your positivity and optimism are contagious It’s impossible to read your blog without feeling uplifted and inspired Keep up the amazing work
I appreciate how this blog promotes self-growth and personal development It’s important to continuously strive to become the best version of ourselves
This blog has become a part of my daily routine I start my mornings with a cup of coffee and your latest post
I always find myself nodding along and agreeing with your wise words Your insights and advice are truly valuable
I love how this blog promotes self-love and confidence It’s important to appreciate ourselves and your blog reminds me of that
I admire how this blog promotes kindness and compassion towards ourselves and others We could all use a little more of that in our lives
Your blog is always a highlight of my day
As a fellow blogger, I can appreciate the time and effort that goes into creating well-crafted posts You are doing an amazing job
Your blog post was fantastic, thanks for the great content!
This blog has become a part of my daily routine I start my mornings with a cup of coffee and your latest post
Keep up the incredible work! I can’t wait to see what you write next.
Equilibrado
Dispositivos de balanceo: importante para el operacion estable y efectivo de las dispositivos.
En el campo de la avances avanzada, donde la rendimiento y la fiabilidad del equipo son de suma importancia, los aparatos de ajuste juegan un tarea vital. Estos aparatos dedicados estan creados para calibrar y asegurar elementos rotativas, ya sea en equipamiento manufacturera, automoviles de desplazamiento o incluso en dispositivos caseros.
Para los profesionales en conservacion de aparatos y los especialistas, utilizar con sistemas de equilibrado es crucial para garantizar el operacion fluido y confiable de cualquier sistema dinamico. Gracias a estas soluciones tecnologicas avanzadas, es posible limitar considerablemente las movimientos, el estruendo y la carga sobre los soportes, extendiendo la vida util de componentes costosos.
Asimismo significativo es el funcion que tienen los dispositivos de ajuste en la soporte al cliente. El ayuda especializado y el conservacion continuo aplicando estos sistemas permiten dar asistencias de gran excelencia, mejorando la contento de los clientes.
Para los responsables de proyectos, la aporte en unidades de equilibrado y detectores puede ser importante para aumentar la productividad y productividad de sus sistemas. Esto es particularmente relevante para los duenos de negocios que dirigen modestas y medianas negocios, donde cada aspecto cuenta.
Asimismo, los equipos de calibracion tienen una extensa aplicacion en el area de la proteccion y el monitoreo de nivel. Habilitan detectar eventuales fallos, evitando intervenciones elevadas y perjuicios a los aparatos. Incluso, los informacion extraidos de estos aparatos pueden emplearse para optimizar sistemas y potenciar la visibilidad en sistemas de exploracion.
Las areas de utilizacion de los sistemas de ajuste incluyen numerosas industrias, desde la elaboracion de ciclos hasta el monitoreo del medio ambiente. No importa si se trata de extensas producciones productivas o reducidos establecimientos hogarenos, los sistemas de equilibrado son indispensables para garantizar un operacion efectivo y sin presencia de fallos.
We just wanted to take a moment to acknowledge all the hard work and effort you’ve been putting in lately. Keep up the amazing job, you’re doing great!
Your blog has helped me through some tough times and I am so grateful for your wise words and positive outlook
Thank you for sharing your personal experience and wisdom with us Your words are so encouraging and uplifting
It means so much to receive positive feedback and know that my content is appreciated. I strive to bring new ideas and insights to my readers.
It means so much to receive positive feedback and know that my content is appreciated. I strive to bring new ideas and insights to my readers.
Looking forward to your next post. Keep up the good work!
Your posts always make me feel like I’m not alone in my struggles and insecurities Thank you for sharing your own experiences and making me feel understood
Your positivity and optimism are contagious It’s impossible to read your blog without feeling uplifted and inspired Keep up the amazing work
Your passion for what you do is evident in every post It’s inspiring to see someone truly fulfilling their purpose and making a positive impact
Your positive and uplifting words are like a ray of sunshine on a cloudy day Thank you for spreading light and positivity in the world
Share with us in the comments your favorite blog posts of all time!
Thank you for addressing such an important topic in this post Your words are powerful and have the potential to make a real difference in the world
I always leave this blog feeling inspired and motivated to make positive changes in my life Thank you for being a constant source of encouragement
Your blog has become my go-to source for inspiration and motivation Thank you for consistently delivering high-quality content
Your posts always leave me feeling motivated and empowered You have a gift for inspiring others and it’s evident in your writing
From start to finish, this blog post had us hooked. The content was insightful, entertaining, and had us feeling grateful for all the amazing resources out there. Keep up the great work!
Thank you for always being open and honest with your readers It’s refreshing to see a blogger who is unafraid to be vulnerable and real
I am blown away by the depth and detail in your posts Keep up the excellent work and thank you for sharing your knowledge with us
Keep up the amazing work!
Your blog is a treasure trove of wisdom and positivity I appreciate how you always seem to know just what your readers need to hear
I can’t get enough of your insightful articles and engaging stories. Thank you for sharing your passion with the world!
Your writing is so eloquent and engaging You have a gift for connecting with your readers and making us feel understood