AUG 16, 2021
1. The 2018 budget of N8.612 trillion was initially proposed and presented to the joint session of the National Assembly on Tuesday 7th November, 2017 by president Muhammadu Buhari and the approved finally figure of the 2018 budget is 9.12 trillion. The National Assembly passed the budget on 16th May 2018 and was signed by president Muhammadu Buhari on 20th June 2018.Highlights of the Final 2018 Budget as follows.
Crude oil benchmark increased from the proposed N45 to N51 in the approved 2018 budget. The exchange rate of N305 to a dollar and production of 2.3 million barrels of oil per day was adopted as proposed by the Executive. The budget was raised by 508 billion from 8.612 trillion to 9.12 trillion. Capital expenditure would gulp 31.5% of the total expenditure at N2. 87 trillion, adding that this was more than N2. 36 trillion allocated in 2017. Recurrent non-debit spending would rise from N2. 99 trillion in 2017 to N3. 516 trillion in 2018. Debt servicing is N2.01 trillion which represents 22% of budget provision to retire maturing bond to local contractors for the current fiscal year.
2. June 12th of every year has been declared as the new democracy day by president Mohammadu Buhari and late Chief Moshood Kashimawo Olawale (M.K.O) Abiola was honoured post humously with highest national honour of GCFR on 12th June, 2018
3. On Monday 18th February 2018,110 girls of Government Girls Science and Technical College (GGSTC), Dapchi Yobe State were abducted by the Boko Haram Terrorist group while 105 of those abducted girls were released on Wednesday 21st March 2018, after the Federal Government fruitful efforts to secure their release, except one girl known as Leah Sharibu that was not released. While (5) of the girls were reported dead on the day of their abduction.
4. On 29th May, 2018, the Federal Republic of Nigeria celebrated 19 years of uninterrupted Democracy since the inception of the forth Democratic republic on 29th May, 1999.
5. President Mohammadu Buhari, on Monday 5th February 2018, signed the Executive Order 5 for planning and Execution of projects, promotion of Nigerian content in contracts and science, Engineering and Technology'(the Order).
6. President Mohammadu Buhari signya new Executive Order 6th of 2018 known as”preservation of Assets connected with serious corruption and Other Related Offences”.
7. President Muhammadu Buhari signed an extension of Executive Order on Voluntary Asset Income Declaration Scheme (VAIDS) into law. The scheme granted extension for 3 months of Tax Amnesty to tax defaulters from 31st March, 2018 to 30th June 2018 to voluntarily declare income.
8. Ahmed Rufai Abubakar was appointed as the substantive Director General of National Intelligence Agency (NIA) on 10th January, 2018 by president Mohammadu Buhari.
9. A new faction of All Progressive Congress known as Reformed All Progressive Congress (R-APC) emerged in July 2018 while the National Chairman of the R- APC is Buba Galadima.
10. A new faction of People Democratic Party known as New Peoples Democratic Party (N- PDP) also emerged in July 2018 while its National Chairman is Abubakar Kawu Baraje.
11. On 14th July 2018 a keenly contested Governorship election was held in Ekiti State Nigeria. John Kayode Fayemi (JKF) of All Progressive Congress (APC) defeated his close contender, Prof. Kolapo Olusola of peoples Democratic Party (PDP) to emerge as the new Governor of Ekiti State. The final result was APC-197,443 votes while PDP total voted was 178,121 votes.
12. The current president/Chairman of Counsel of Chartered Institute of Stock Brokers (CIS) is Mr. Adedapo Adekoje FCS
13. The 54th president/Chairman of Council of the Institute of Chartered Accountants of Nigeria (I CAN) is Alhajib Radaq Jayeola FCA. His investiture as president of I CAN for the 2018/2019 presidential year took place at the ICAN Secreteriat in Victoria Island, Lagos on 14th June, 2018.
14. The current president/chairman of Council of the chartered institute of taxation of Nigeria (CITN) inaugurated on 8th of June, 2017 is Mr Cyril Ikemefuna FCTI.
15. The current president/chairman of Council of Chartered Institute of Bankers of Nigeria (CIBN) is Uche Messiah Olowu pH. D, FCIB
16. The Chartered Institute of Bankers Nigeria (CIBN) is the umbrella professional body for bankers in Nigeria. The CIBN was Incorporated in 1976 as the Nigerian Institute of Bankers. It was made a charter in 1990, and is now covered by the CIBN Act 5 of 2007
17. Mushood Yunusa, is the current chairman, Forum of Finance Commissioners in Nigeria.
18. On 16th September, 2016 Ojeme Ewhudjakpor became the first woman to rise to the rank of Deputy Corps Marshal and Assistant Corps Marshal in the history of Federal Road Safety Commission (FRSC)
19. The richest man in Nigeria and Africa is Aliko Dangote. He is currently ranked among the list of the world’s richest persons according to Forbes magazine.
20. On 9th of May 2018, president Mohammadu Buhari declared his intention to run as president for the second term in office in 2019 presidential election