FG Projects ₦26 Trillion for the 2024 Budget; ABCON Set to Crash the Dollar at Parallel Market, Approves New Exchange Rate | 5 Things That Should Matter Today

FG
  • FG Projects ₦26 Trillion for the 2024 Budget
  • Minister of Women Affairs gives ultimatum to UN, demands for designated funds 
  • ABCON determined to crash the dollar at Parallel Market, approves new exchange rate
  • Tola Odeyemi assumes the position of CEO of NIPOST despite the disapproval of workers
  • The Third Mainland Bridge is now a motorist’s nightmare

Across Nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn’t miss.

FG Projects ₦26 trillion for the 2024 budget

FG

On October 16, the federal government announced it would be budgeting 26 trillion as the expected expenses for 2024.

The government said it would strictly adhere to the projected budget from the January to December implementation cycle as the president would introduce the 2024 appropriation bill to the National Assembly.

The announcement of the budgeted funds for the next year was announced as soon as the FG approved the Medium-Term Expenditure Framework for 2024-2026.

The federal government also announced the creation of a supplementary budget as unexpected needs require attention since the fuel subsidy removal.

Minister of Women Affairs gives ultimatum to UN, demands for designated funds 

Minister of Women Affairs Uju Kennedy-Ohaneye threatened to file a lawsuit against the United Nations for not giving Nigeria the promised funds.

The Minister made this threat known at a public event in Abuja; she suspected that some of the world’s governing officials had collected the funds on behalf of Nigeria without disbursing it to the West African country.

She maintained that the UN could not provide her ministry with the essential documents; therefore, legal action would be taken against the United Nations.

“I stand here as the minister of women’s affairs to demand from the UN the account of all the monies they sourced from donors in Nigeria’s name. We want to see the account of what they did,” she said.

ABCON determined to crash the dollar at Parallel Market, approves new exchange rate

The Association of Bureau De Change Operations (ABCON) has announced plans to reduce the dollar exchange rate to below ₦1,000/$.

The executives of ABCON have directed their dealers across the country to seize the purchase of dollars being sold for over ₦900.

The agency stated that this directive would assist the currency in gaining value as the dollar is reduced to ₦900 or ₦950.

The ABCON hopes that this decision taken for the health of the naira will convince the CBN to resume the sale of forex to BDC operators, suspended in 2021.

Tola Odeyemi assumes the position of CEO of NIPOST despite the disapproval of workers

Since the appointment by President Tinubu on October 11, Tola Odeyemi has just resumed office as the postmaster general of NIPOST and CEO.

However, the presidential appointment was found unacceptable by several workers in the agency who had preferred their previous postmaster general, Adeyemi Adepoju.

The workers, under the National Union of Postal and Telecommunication Employees (NUPTE), had expressed this disapproval of the new appointment by shutting down the headquarters of NIPOST in Abuja in protest.

After gaining access to the conference room of NIPOST, Tola Odeyemi vowed that her leadership would be dedicated to upholding the status of the agency, making it one of the leading global postal operators.

The Third Mainland Bridge is now a motorist’s nightmare

The Third Mainland Bridge has become a huge concern for motorists who have no choice but to pass the bridge every day.

The motorists have yet again raised their concerns and voices over the deteriorating state of the bridge.

The attention of the Lagos State Government is being requested as people fear for their lives and the current state of the bridge, which could give out at any time.

The bridge has undergone several rehabilitation operations since it was constructed in 1990, with the last one carried out on April 2, 2023, by the state government.

The potholes on the bridge are rapidly spreading, which worries the people. However, the Lagos State Government once mentioned that the bridge’s responsibility falls upon the shoulders of the Federal Roads Maintenance Agency.

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