LABARI

I am honoured and privileged to present the 2016 Budget proposal. This is my first address before this joint session of the National Assembly. I have come here today, not only to address members of the National Assembly, but also to speak directly to the men and women who placed us here.  2. I know the state of our economy is a source of concern for many. This has been further worsened by the unbridled corruption and security challenges we have faced in the last few years. From those who have lost their jobs, to those young people who have never had a job, to the people in the North East whose families and businesses were destroyed by insurgents, this has been a difficult period in our nation’s history, lessons that we must not forget or ignore, as we plan for the future. 3. By June 2014, oil prices averaged $112 per barrel. But as at today, the price is under $39 per barrel. This huge decline is having a painful effect on our economy. Consumption has declined at all lev...

President Muhammadu Buhari yesterday declared that there will be no friend, no foe in the fight against corruption and that Nigeria must resolve to curtail corruption in all facets of the society for there to be significant success in the fight to eliminate it. He stated this in his keynote address titled, “Incorruptibility: a Spiritual Premise for Material Wellbeing”, at the annual Osigwe Anyiam-Osigwe Foundation lecture held yesterday at the International Conference Centre, Abuja. According to the president, “The topic of discourse at this session, which is corruption, significantly ties into my vision for our great country, Nigeria, that we must kill corruption before corruption kills us.” The President said: “In Nigeria, two problems stare us in the face. First is that our laws need to be strengthened if we must realistically contend with the haze of corruption. The second is that we must correct the gaps in our legal system that are exploited to fru...

President Buhari yesterday said that his adminstration will soon publish names of those who have returned portions of their loot.  President Buhari, according to Vanguard said that the Central Bank of Nigeria will soon publicly release the names of those who looted the country's treasury and have returned parts of their loot. He said the Central Bank of Nigeria (CBN) hasn't published the list yet because they don't want to jeopardize investigations and further recoveries. At the 15th session of the Anyiam-Osigwe Foundation lecture at the International Conference Centre, in Abuja yesterday, the president said: “We have taken steps towards recovering a reasonable amount of the money that was looted or misappropriated from public coffers. Investigations are ongoing on public officers who served, or are still serving, and those whose conduct are questionable will be compelled to accept the path of honour and surrender their loot,” he said. “As ...

Emir of Kano, Muhammadu Sanusi II says if embattled former Minister of Petroleum Resources, Diezani Alison-Madueke is jailed and convicted for corrupt charges, it will send a signal to other corrupt officials in Nigeria. Sanusi said this in an interview with US TV news, PBS Newshour "If she (Diezani) goes to court and is jailed for example, it sends a signal I think that there is a day of reckoning. In Nigeria, there is no accountability at all and that is why I think Nigerian corruption is worse than in many parts of the world because it is the worst type of corruption. Its stealing". He went on to say that under the last administration, a billion dollar was stolen every month. "Frankly, I think a billion dollars under Jonathan a month was about what we were losing.” Sanusi said the stealing of oil money was done via the award of oil blocs to groups of friends who do not have any knowledge of oil wells. "Basically what it does is to allow a group of frie...

Emir of Kano, Muhammadu Sanusi II says if embattled former Minister of Petroleum Resources, Diezani Alison-Madueke is jailed and convicted for corrupt charges, it will send a signal to other corrupt officials in Nigeria. Sanusi said this in an interview with US TV news, PBS Newshour "If she (Diezani) goes to court and is jailed for example, it sends a signal I think that there is a day of reckoning. In Nigeria, there is no accountability at all and that is why I think Nigerian corruption is worse than in many parts of the world because it is the worst type of corruption. Its stealing". He went on to say that under the last administration, a billion dollar was stolen every month. "Frankly, I think a billion dollars under Jonathan a month was about what we were losing.” Sanusi said the stealing of oil money was done via the award of oil blocs to groups of friends who do not have any knowledge of oil wells. "Basically what it does is to allow a group of frie...

The Economic and Financial Crimes Commission has linked former Governor Peter Odili of Rivers State and a once convicted top member of the Peoples Democratic Party, Bode George, with receiving N100 million each from the former National Security Adviser, Colonel Sambo Dasuki (ret.). Bode George and Peter odili The EFCC source told SaharaReporters that the largess to the two PDP officials was diverted from funds meant for the purchase of arms in order to better equip the Nigerian military in its campaign against Islamist terror group, Boko Haram. Instead, the N200 million paid to the two PDP stalwarts was designed to ensure the re-election of former President Goodluck Jonathan, who lost the presidential election held on March 28, 2015. A panel appointed by President Muhammadu Buhari is currently investigating the reported theft of more than $2 billion from the Central Bank of Nigeria (CBN) in the name of purchasing arms. Mr. Dasuki, who was arrested yesterday, initially claimed he st...