NIGERIA NEWSPAPERS: TODAY’ DAILY TRUST NEWSPAPER HEADLINES [22 JUNE, 2018].

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How we’ll fund N1.6tr budget deficit, by FG
Fri, 22 Jun 2018

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The Federal Government will borrow in excess of N1.643 trillion to fund the deficit in the N9.12 trillion 2018 budget, in addition to its debt burden of over N2 trillion.
While N793 billion would be borrowed domestically at double digit interest rates, N849 billion would come from foreign sources at considerably lower interest rates.

The Minister of Budget and National Planning Mr. Udo Udoma said this while presenting the 2018 budget breakdown yesterday.
He said the projected overall budget deficit of N1.950 trillion, representing 1.74 per cent of Nigeria’s Gross Domestic Product (GDP), was within the threshold stipulated in the Fiscal Responsibility Act (FRA) 2007.
President Muhammadu Buhari had while signing the N9.12 trillion 2018 budget noted that he may still return to the National Assembly for a supplementary budget due to changes made by the lawmakers to the original document he submitted.
The 2018 budget exceeds that of 2017 by 23 percent.
He also said at N2.01 trillion, debt service is 21 percent of planned spending (about same as in Fiscal Year 2017).
The minister explained further that provision to retire maturing bond to local contractors increased by 7 percent from N177 billion in 2017 to N190 billion in view of the ambitious plan to liquidate all contractor arrears of the Federal Government going back to several years.

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He also noted that recurrent (non-debt) spending is expected to rise by 17 percent, from N2.99 trillion in FY2017 to N3.51 trillion.
He also said capital expenditure (excluding transfers) rose higher by 22 percent from N2.36 trillion in FY2017 to N2.87 trillion, adding that capital spending is 31.5 percent of total FGN expenditure in 2018.
The minister also indicated that N306 billion is expected from privatization and N5 billion from sale of government property to part finance the deficit.
“We have grown the size of the budget from 4.7 percent in 2015 to 5.9 percent in 2016, 6.7 percent in 2017 and 8 percent in 2018. This is very low compared with South Africa (20.7%) and Ghana (19.2%) as at 2015, Udoma said.
He noted that the ratio of capital spending in the total budget increased from 12 percent in 2015 to 30 percent in 2016, 32 percent in 2017 and 32 percent in 2018.
Giving the breakdown of N520 billion Statutory Transfers, he said the Niger Delta Development Commission (NDDC) will get N115.86 billion; National Judicial Council N110 billion, Universal Basic Education (UBEC) N109 billion, Independent National Electoral Commission (INEC) N45.5 billion, National Assembly N39.5 billion, Public Complaint Commission N7.48 billion while the National Human Rights Commission takes N3.01 billion.
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APC national convention: Fears over parallel delegates
Fri, 22 Jun 2018

As the ruling All Progressives Congress (APC) plans to hold its national convention on Saturday, there are fears that parallel delegates from across the states may storm the Eagle Square in Abuja.
The APC had in May held congresses across the states and the Federal Capital Territory (FCT); and in many places, two sets of executives emerged.

The states where factions of the party worked at cross-purposes include Kano, Kaduna, Lagos, Kwara, Delta, Rivers, Ondo, Zamfara, Sokoto, Enugu, Kogi, Bayelsa, Oyo, and Ebonyi with party members saying there were issues in no fewer than 24 states.
This development had heightened tension that both factions of the party would go to Abuja with their delegates to elect national officers who would steer the affairs of the party through the 2019 elections and beyond.
Though the National Publicity Secretary, Bolaji Abdullahi, had soon after the state congress denied there was parallel congress, the situation actually exists in many states.
Pundits believe that the convention would either make or mar the APC, a party that had been battling with internal wrangling since it won the 2015 general elections.
“There is no such thing as parallel congress. The only recognised congresses are those organised by the congress committees charged by the party to organise such congresses,” Abdullahi had said in May.

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Daily Trust gathered that there is the likelihood of two delegates going to Abuja from Kwara State. One would be led by Alhaji Isola Balogun Fulani who is loyal to Senate President Bukola Saraki. An opposing group in the party which held another state congress coordinated by Minister of Information and Culture, Alhaji Lai Mohammed, is also expected to be in Abuja.

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Faction calls for arrest of Sarakis delegates from Kwara
Fri, 22 Jun 2018
A faction of the Kwara State chapter of the APC said it is prejudicial to allow any delegate produced by the Ishola Balogun Fulani executive to step into the partys convention arena on Saturday.
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AEPB expresses worry over open defecation in FCT IDP camps
Fri, 22 Jun 2018
The Abuja Environmental Protection Board (AEPB) has said it is worried over open defecation in Abuja, especially at the Internally Displaced Persons (IDP) camps in the FCT.
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20 schools for maiden Abuja childrens theatre festival
Fri, 22 Jun 2018
Twenty schools will be participating at the maiden childrens theatre festival in Abuja.
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Abaji students union elects new executives
Fri, 22 Jun 2018
Abaji Students Union (ASU) has elected new executives to pilot its affairs for the next four years.
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FCT education board trains Maths, English teachers
Fri, 22 Jun 2018
The FCT Secondary Education Board (SEB), in collaboration with Learn Africa, has embarked on a one-day intensive training for Mathematics and English teachers across the six area councils of the territory.
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Minister condoles with Senator Wowo over brother’s death
Fri, 22 Jun 2018
The FCT Minister, Muhammad Musa Bello, has condoled with a chieftain of the All Progressives Congress (APC), Senator Usman Jibrin Wowo, over the death of his elder brother, Alhaji Dariko Usman.
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Man, 50, remanded for raping underage girls at Sabon Wuse
Fri, 22 Jun 2018
A magistrates court sitting in Suleja, Niger State, has remanded a 50-year-old chemist operator from Sabon Wuse town in Tafa Local Government Area of the state over allegation of molesting three underage girls.
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Reps aspirant pays hospital bills for patients
Fri, 22 Jun 2018
A House of Representatives aspirant for Abuja South Federal Constituency in the 2019 elections, Ahmad Abubakar Sadiq, has paid the hospital bills of some patients on admission at three hospitals.
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Julius Berger pays N1.32bn dividends to shareholders
Fri, 22 Jun 2018
The Board of Directors of Julius Berger Nigeria Plc (JBN) has recommended a dividend of N1.
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Traders laud NERC over Ariaria market power licences
Fri, 22 Jun 2018
Traders at Ariaria market in Abia state have lauded the Nigerian Electricity Regulatory Commission (NERC) for issuing 9.
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Yabatech unveils plans on raising IGR
Fri, 22 Jun 2018
The new rector of Yaba College of Technology (Yabatech), Lagos, Engr.
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NOSAGA vows to sanitize petroleum products supply
Fri, 22 Jun 2018
The Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) have assured of its resolve to assist the federal government in cleaning up the downstream oil sector from fake and adulterated petroleum product supply.
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14 years of Contributory Pension Scheme
Fri, 22 Jun 2018
Before the Nigerian pension reform of June 2014, the Nigerian pension system was based on the Pay-As-You-Go System, which is dependent on the annual budget, cash flow into the treasury, allocation to the appropriate sub-heads and payment to the beneficiaries.
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Multi-fund structure: Pension fund investments to yield higher returns
Fri, 22 Jun 2018
The National Pension Commission (PenCom) is projecting higher returns on pension fund investments as the Contributory Pension Scheme (CPS) transits from double fund structure to multi-fund structure.
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Pension complaints and solutions
Fri, 22 Jun 2018
Q and AQuestion: With the introduction of multi-fund structure, will Pension Fund Administrators charge fees to manage the funds’ If yes, will the fee be uniform for all the funds’ Hassan, AbujaAnswer: Yes.
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Mbappe strike sends France through
Fri, 22 Jun 2018
Kylian Mbappes first-half strike helped France overcome and eliminate a resilient Peru to earn a spot in the knockout round of the World Cup.
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Icelands Gudmundsson to miss Nigeria game, says coach
Fri, 22 Jun 2018
Iceland winger Johann Berg Gudmundsson is very unlikely to recover from injury in time to play in the World Cup Group D game against Nigeria today, his coach Heimir Hallgrimsson said.
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Higher Institution Football League gets July 28 kick-off date
Fri, 22 Jun 2018
The maiden edition of the Higher Institution Football League (HIFL) will kick off on July 28 across university campuses in Nigeria.
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Russia 2018: I have the right formation for Iceland Rohr
Fri, 22 Jun 2018
The head coach of Nigerias Super Eagles Gernot Rohr says he has the right formation to get the West Africans result against Iceland when they do battle on Friday.
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Saraki to cheer Super Eagles in Russia today
Fri, 22 Jun 2018
The Senate President, Bukola Saraki will be at the stadium when the Super Eagles of Nigeria tackle Iceland in their second Group D match on Friday.
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Top seed Muguruza beaten in Birmingham
Fri, 22 Jun 2018
Wimbledon champion Garbine Muguruza was knocked out of the Nature Valley Classic with a 6-2, 6-4 defeat by Barbora Strycova in Birmingham.
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