News

Obaseki Presents N320bn 2023 Budget, Focuses On Education, Health

Published

3 years ago

November 16, 2022

Editor

Edo State Governor, Godwin Obaseki, on Wednesday, presented a N320.35bn budget to the Edo State House of Assembly for the 2023 fiscal year, representing a 69.37 percent increase from the N222bn budgeted for the year 2022.

Obaseki presented the budget to the Assembly sitting at the Anthony Enahoro Assembly Complex in Benin City, and said the budget comprises N192 billion for capital and N127.5 billion for recurrent expenditure.

According to the governor, the document christened ‘Budget of Resilience and Transformation,’ was informed by the need to “build a resilient and sustainable foundation for the reforms, initiatives, and programmes that we have embarked on in the last six years.”

“Our strategic goal is to utilise manufacturing, technology, agriculture, arts, culture, and entertainment as the catalyst to promote sustained investment across all sectors of the Edo economy,” he added.

Obaseki noted that the total projected revenue for 2023 is N300 billion, consisting of N144.26 billion statutory allocation, made up of Value Added Tax of N41.2 billion; Capital receipts of 46.1bn; IGR, N60.4 billion and N4 billion from grants, among others, adding, “The balance of will be sourced from development financing and financial institutions.”

Obaseki further said, “The revenue estimates for the budget is based on a $70 per barrel benchmark for crude oil and average daily production of 1.69m barrels per day as well as an increase in Internally Generated Revenue (IGR) to N60.4bn, owing to reforms in tax collection and land management activities.

“Our intention is to push for revenue and reforms in the built environment. We are committed to boosting capital spending this year. To this end, we expect a capital/recurrent expenditure ratio of 60.2 per cent to 39.8 percent respectively. This would reinvigorate the economy, providing the right impetus for the needed growth expected in the year.”

Receiving the 2023 budget proposal, Speaker of the Edo State House of Assembly, Rt. Hon. Marcus Onobun, hailed the governor for his efforts at ensuring economic prosperity for the state, adding, “It is worthy to note that at the presentation of the year 2022 budget, you made certain commitments to the people of Edo in relation to infrastructural transformation, healthcare, education and economic development of the State.

“It is commendable that despite the looming global economic meltdown and other uncertainties, you were able to deliver set goals as outlined. On behalf of my colleagues, I applaud you for your sterling performance despite the odds. We applaud your visionary initiatives, leadership, passion, strategic innovation, and dedication to our dear state and its people.

“As a House, we will hold ourselves to the highest standards of integrity in carrying out this constitutionally assigned duty of scrutinizing and the consideration of this budget for the benefit of the state. We will ensure that this budget proposal receives timely consideration. We will collaborate with relevant stakeholders, Ministries, Departments, and Agencies of government to deliver a budget that is exemplary; a budget that focuses on the aspirations and needs of the people of Edo State.”

The governor, earlier, listed education, health, road transport, buildings, agriculture, energy, and electricity, as well as economic enablers, as the areas of focus in the 2023 fiscal year.

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

2 hours ago

May 6, 2026

Editor

Lazio midfielder, Fisayo Dele-Bashiru is a subject of interest from three Premier League clubs, according to Sky Sports.

Lazio reportedly rejected offers from Nottingham Forest and Bournemouth for the Nigeria international in January.

La Biancolesti are bracing for more interest in Dele-Bashiru ahead of the summer transfer window, according to Sky Sports.

The 24-year-old has two years left on his contract with the Serie A club.

The attacking midfielder joined the Rome-based club from Turkish Super Lig outfit Hatayspor in 2024.

He has been a regular feature for Lazio this season.

News

Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses

Published

3 hours ago

May 6, 2026

Editor

The leadership of the National Association of Nigerian Students, NANS South-West Zone D, has announced plans to picket South African companies in Nigeria following the ongoing xenophobic attacks in the country.

DAILY POST reports that some Nigerians were recently killed in South Africa over the violent attacks.

A statement issued to newsmen by Comrade Adeyemo Josiah Kayode, Coordinator, NANS South-West, Zone D, said that the association is mobilizing to take decisive and lawful action by organizing peaceful picketing and mass advocacy against South African business interests operating in Nigeria.

“We categorically state that the continued targeting of Nigerians under any guise is unacceptable and must come to an immediate end.

“This will include major corporations such as MTN Group and MultiChoice Group. It is morally indefensible for businesses to thrive in an environment where the lives of Nigerians are protected, while Nigerians are subjected to fear and violence elsewhere.

“This contradiction will no longer be tolerated,” the statement said.

News

N5m, N10m Zero-interest Loans: SheVentures Opens Applications For Women Entrepreneurs

Published

5 hours ago

May 6, 2026

Editor

First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth.

The facility provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ₦10 million for sector-specific businesses, with funding capped at up to 50% of an applicant’s average monthly turnover.

At the centre of the offering is a 0% interest rate, with all charges embedded in a transparent structure.

Repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.

Yemisi Edun, Managing Director and Chief Executive of First City Monument Bank (FCMB), said the initiative reflects a deliberate approach to inclusive growth.

“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively.

“Women-led enterprises are critical to economic activity, yet they face structural barriers.

This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs.”

“Access to affordable finance remains a major constraint for women entrepreneurs,” said Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB).

“By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions.”

Women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises but continue to face high borrowing costs and limited access to credit.

Through these efforts, SheVentures tackles persistent financing gaps facing women-led businesses, combining targeted funding with broader support to empower women entrepreneurs, encourage business innovation, and enhance their ability to compete on a national scale.

Applications for the zero-interest loan are now open.Apply now.