SHOCKING!!! Nollywood actor, Arakangudu dies

Popular Yoruba actor, Sikiru Adeshina aka Arakangudu, died in his sleep early this morning February 9th. He reportedly suffered a heart attack while sleeping at his home in Kaduna. Arakangudu's body is expected in Osun state, his home state where he will be buried. May his soul rest in peace, Amen.

THE 2016 BUDGET: THINGS YOU NEED TO KNOW

U NEED TO KNOW

The proposed 2016 budget currently being subjected to legislative scrutiny by both chambers of the National Assembly is the first budget to be so put together by the APC led administration. The appropriation bill is coming on the heels of global economic downturn which has significantly impacted the Nigerian economy coupled with pockets of significant home-grown difficulties.

The budget is geared towards bridging infrastructure deficit, stimulating the economy and promoting inclusive growth including the poor and the vulnerable.

However, the funding of the budget is challenged by declining price of oil which has put massive pressure on commodity prices in dependent nations including Nigeria.

Indeed, the 2016 budget is expansionist with a total sum of N6.08tr, an increase of about N1tr from the revised allocation of N5.09tr for 2015. The FG will fund the budget with N820bn, N1.45tr and N1.51tr from oil related, non-oil and independent revenues respectively aggregating to N3.85tr.

As a result of shortfall in revenue particularly that of the oil segment, the proposed budget has a deficit of N2.2tr but the sum of N900bn and N980bn will be borrowed internationally and domestically respectively. Noteworthy to point out is the N1.8tr to be borrowed; representing 30% of the budget will absolutely be used to execute capital projects. No kobo of the borrowed funds will be used to settle salaries and allowances.

This budget deficit represents 2.16% of our GDP which is estimated to be about $521bn. Our national debt to GDP ratio remains one of the lowest not only in Africa but in the world. In an attempt to ensure that our debts do not constitute a serious burden on our national purse in the nearest future, the Federal Government has resolved to service debt to the tune of N1.47tr in the 2016 fiscal year.

This administration recognizes how far behind we are as a nation in different areas of national development. Regrettably, successive governments have failed to develop Nigeria infrastructurally. The government of the day, in a show of its commitment to build roads, boost power generation and invest remarkably in infrastructural projects allocated the total sum of N1.8tr to capital expenditure representing 223% year on year increase in capital spending.

You will agree with me that travelling by road in Nigeria has become a serious nightmare. Road networks across the country are in deplorable state. Existing roads are neither maintained nor rehabilitated while newly awarded roads are hardly completed. In addition, our power sector has been in a state of neglect over the years across supply chain and affordable housing has become almost impossible for the Nigerian people. Therefore, the Federal Government allocated N433.4bn to the Federal Ministry of Works, Power and Housing for the execution of capital projects only.

In addition, our sovereign nation cannot boast of a national carrier let alone state-of-the-art airport in this 21st century neither do we have an efficient railway system in our country. Against this backdrop, the Federal Government allocated N202bn to the Federal Ministry of Transportation for the implementation of capital projects in the 2016 fiscal year alone.

DIVERSIFICATION OF NIGERIA'S ECONOMY
A lot of pundits have said that the government did not walk its talk of Nigerian’s economy diversification by voting N498.4bn and N18.6bn to the Ministries of Interior and Solid Minerals respectively for instance. The logic is that, the Ministry of Interior accommodates Nigerian Immigration Service, Prison Service, Fire Service, Police Force et cetera but the Ministry of Solid Minerals and Steel Development can be compared to the Nigerian National Petroleum Corporation (NNPC) which the government is currently working assiduously to make more transparent, efficient and possibly reduce Joint Venture cash calls obligations.

The Ministry of Solid Minerals is less staffed and all the government is trying to achieve is reform the sector, partner with states and boost investor confidence in investing into exploration and exploitation of solid minerals in Nigeria. It has been globally proven that government has no business in doing business. Government is only expected to create an enabling environment for businesses to thrive and tax commensurately; an established fact this government is committed to achieving.

SOCIAL INVESTMENTS PLAN
A commendable item in the 2016 budget is the government’s allocation of N500bn to social intervention programs to assist the poor and vulnerable in our midst in order to ensure an inclusive society. This amount will be used to execute conditional cash transfers to be implemented in phases, school feeding programme, recruitment of 500,000 teachers, financial training and loans to market women, traders and artisans through cooperative societies all of which will be done in partnership with state governments.

Upon weathering the 2008-2009 global economic recession headwind, the balanced sheets of several financial and corporate institutions in Nigeria had been badly affected. The government at the time set up Asset Management Corporation of Nigeria (AMCON) to bail-out a few but sadly, the corporation currently has a record of about N5tr debt.

In view of the above, the Buhari-led administration deemed it important to set up a special intervention programme to be funded to the tune of N500bn to help the poor, less privileged, the vulnerable and indeed the Nigeria people at large.

LEGISLATIVE ACTION
It is very important to note that two good heads are better than one. One of the most important constitutional roles of the National Assembly is budget review and timely passage for a particular fiscal year.

The budget has been put together by the executive and passed on to the National Assembly- an independent arm of government made up of distinguished senators and honorable members representing their senatorial zones and constituencies across the federation.

The 2016 appropriation bill is not cast in stone. It has been laid before both chambers for their careful consideration and I believe that in the end, when the bill becomes a law, we would have an appropriation Act that will be acceptable to every objective Nigerian.

However, the government of the day do not have penchant for squandamania; therefore, there will be transparency and accountability- the hallmarks of this administration and the budget; no doubt, would be religiously and satisfactorily implemented to the letter.

Fani Kayode Shows Off His Baby Boy and His Fiancée

Femi Fani-Kayode welcome his first son with his fiancée, Precious Chikwendu on February 1. The babe has been named Joshua Oluwafemi Emmanuel Lotanna Aragorn Fani-Kayode. More photos...

Billionaire Otedola's Daughter Temi Shows Off Her Assets

Temi Otedola who's a fashion blogger herself, flaunted her bikini body on her father's yacht as she posed for some breath-taking photos. She is a beautiful lady! Check out more...

Omotola Treated to A Lavish Birthday Party in Ghana (Photos)

Omotola Jalade-Ekehinde celebrated her 38th birthday on the 7th of February in Ghana. Her friends had a party organized to celebrate the respected actress, who is promoting her second season of her reality show - Omotola the Real Me. Congrats to her! See more photos...

...happy birthday to Omosexy!

Beautiful Serena Williams Flaunts Her Assets

Serena Williams is enjoying herself on vacation in Jamaica. See another photo of her strong butts...

Father of Man Killed by Female Lawyer Wife Dies after Hearing of His Son's Death

This is heartbreaking! Tragedy struck again at the Ajanakus compound, Owoope area at Gbongan, Osun state on Monday when Pa Yaya Oyewole, the foster father of an Ibadan businessman, Lowo Oyediran who was allegedly murdered by his lawyer wife, Yewande, slumped and died.

The octogenarian was said to have developed complication when he got the news that Lowo was stabbed to death by Yewande because she learnt that her husband had a child with another woman.

Yewande, the daughter of a retired Permanent Secretary in Oyo State, Ven. Olatinwo Adegbenro Fatoki was said to have stabbed Lowo in the neck while sleeping and he bled to death on February 3.

According to Daily Trust, the family of the late octogenarian had been keeping the information from him until Monday morning when he eventually heard about it.

Late Lowo’s biological father, Pa Ajanaku died in 1990 and Pa Yaya who was an elder brother of his father took care of Lowo since he was a young boy till he became comfortable and got married.

A family source said Pa Yaya died of shock when he was told that Lowo had been killed by his wife.

Lowo, a native of Osun state was living in Paris before he relocated to Nigeria in 2014 to settle down with his wife, Yewande who is a lawyer and Principal State Counsel at Oyo State Ministry of Justice.

The alleged killer wife is now in prison custody standing trial for the case.

- this is really double tragedy for the Ajanaku family. May God help and console them!

Is President Buhari Sick Abroad?

Since President Muhammadu Buhari did what the constitution require by handing over the Vice President Yemi Osinbajo, some like Governor Ayo Fayose has been shouting that the move is suspicious.

Anyway, the Special Adviser to President Buhari on Media and Publicity, Femi Adesina, says contrary to the insinuations by some people, Buhari's five day vacation is for him to rest and that he is not sick.

Mr. Adesina who was a guest on Channels TV on Monday night, said Buhari had worked for eight straight months since he assumed office and needs some rest, to enable him face the challenges ahead.

In hiis words: “Any man can fall sick, old or young, but the president is not sick, the president is well. The president has worked for more than eight months non-stop, and he felt it was time to take a respite and he asked for six days leave and he did it the proper way. He communicated it to the national assembly, handed over power to his deputy and nothing is wrong with that."

He added that, “Nigerians have been lied to for so long that they now find it difficult to believe the truth and that is the problem. You have told the truth yet they did not believe it because they have a carry-over of those who have lied to them... but this government will not lie; it will tell the truth.”‎

Female NYSC Member Battered and Stabbed By Her Husband

All these husband and wife who engage in acts of domestic violence against each other should seek for help to avoid more grievous issues like taking someone's life. Violence from either spouse is bad!

A 30-year-old corps member and housewife, Funmilayo (real names withheld) has been battered by her own husband, identified as Bade, who also allegedly poked his finger into her eye during a disagreement at their home in the Surulere area of Lagos.

Mr Bade was also said to have stabbed her in the face and rained blows into her head and face...

Funmilayo was rushed to a health centre before being taken to the Lagos University Teaching Hospital.

Policemen from the Surulere division were said to have arrested and detained Mr Bade, after which he was released on bail.

According to Punch, the drama happened last Monday at the couple’s residence in Kilo area of Surulere. The wife, who is an Insurance graduate, said she had followed her husband to his parent’s house on the day, and they had returned around 8pm.

She said, “Immediately we got home, he said he wanted to go for a meeting somewhere and I told him to return as early as possible before they shut the street gate at 10pm.

“When it was 11pm, I called him, he didn’t pick his calls. He also did not respond to a WhatsApp message I sent around that time.He later picked his call and I warned him that if he returned too late I would not rise up from bed to open the gate for him.

“Around 1am, I called his telephone line again and I heard a noise at the background. I overheard a lady talking. I told him I was going for my NYSC Community Development Service early in the morning, but he ignored me.”

Funmilayo, who already had two children for Bade, said she returned to bed, but her husband did not return until it was 2am.

“At about 2am, he called me on the telephone and said I should come and open the gate, but I ignored him. When I eventually went downstairs to open the gate, somebody else had done it.

“He abused my mother and I cautioned him, but he said it was my day of reckoning and my cup of iniquity was full. I was in my night gown that time.

“He picked up his belt and started beating me. As I tried to run away from him, I fell down. During the struggle, a mirror fell on the floor and he stabbed me with a splinter. He sat on me. I screamed in pain and shouted for help, but nobody came to my rescue.

“He poked a finger into my eye and gave me several blows in the face,” she said.

Funmilayo explained that she managed to bite Bade’s leg, adding that it was then he let go of her. She said an in-law rushed her to a medical facility in the area before she was later taken to LASUTH for treatment.

The couple are now separated pending when the matter would be resolved.

When contacted, Bade denied attacking his wife, adding that she was the first to assault him.
“All she said was a lie. It was my hand that I used to beat her and she was the one that used a plank to hit me in the back and even stabbed me with the broken mirror. I have a deep cut in my back and in the front. I slapped her. She got a swollen face because she is plump,” he said.

Lagos Police PRO, SP Dolapo Badmos, said the police were preparing to take Mr Bade to court when his wife came to withdraw the case by herself.

Kogi Gets New Deputy Governor; Simon Achuba Sworn In

Mr. Simon Achuba has been sworn in as the Deputy Governor of Kogi State after the state House of Assembly approved his nomination for the position.

Embattled Governor of the state, Yahaya Bello, sent a letter containing his nomination as deputy governor to the state House of Assembly on Monday after weeks of deliberations.

Achuba was sworn in as deputy governor behind closed doors at the banquet hall of the Government House shortly after the House endorsed his nomination.

The Speaker of the House of Assembly, Alhaji Momoh-Jimoh Lawal, confirmed to journalists, who were denied entry into the venue of the inauguration, that the approval was in response to a letter by the governor seeking the consideration and approval of the House for the nomination.

The speaker explained that the approval of Achuba, who defected from the PDP to the APC in May, 2015 was to prevent a vacuum from being created in the state government.

Achuba, a two-time member of the House was asked to take a bow and go following the submissions of members that as a former member of the Assembly, there was no need to subject him to screening.

Achuba was born on July 13, 1964.