Emefiele: CBN Pumped N2trn into Economy in 15 Months to Boost Growth Explains challenges facing aviation sector
As part of efforts to reflate Nigeria’s ailing economy, the Central Bank of Nigeria (CBN) disbursed nearly N2 trillion to both public and strategic private sectors of the economy in the last one year. The CBN Governor, Mr.
Godwin Emefiele, who spoke in an exclusive interview with THISDAY yesterday, also said in order to stimulate expenditure in most states that could not pay salaries, the central bank around July 2015, came up with the idea of a Workers' Salary Assistance
Programme. Under that scheme, the Central Bank disbursed a total of about N405 billion to all the affected states, the central bank governor disclosed. The CBN also disbursed N10 billion to almost all of the 36
states respectively, to fund their infrastructural projects. Under this scheme as well, the CBN did intervention to the tune of N350 billion. Throwing more light on the apex bank's disbursements in the last one, Emefiele said: "The total
of both intervention is close to N800 billion, that was injected to support the sub-national governments either for them to pay salaries, or for them to support their infrastructural development in their states. These are some of the actions that were done.
"Aside from that, the CBN also disburses money through the Commercial Agricultural Credit Scheme (CACS), the Power and Aviation Intervention Fund (PAIF), and the refinancing Continued on page 6
Ambode in Copenhagen, Meets Maersk Group, Says $2.6bn Badagry Port Will Turn Around Economy... Page 10 Saturday 29 October, 2016 Vol 21. No 7863 Price: N250
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2016 Budget has Recorded 79% Performance, Says FG N3.6trn so far released
Iyobosa Uwugiaren and Ndubuisi Francis in Abuja The federal government disclosed yesterday that it had so far spent
N3.577 trillion out of the full year's budget of N6,060 trillion for the 2016 fiscal year which was signed in May. This translates to a 79 per cent performance of the prorated
budget for the three quarters up to September 30, 2016. A statement released last night by Akpandem James, the Media Adviser to the Minister of Budget and National Plan-
ning, Senator Udoma Udo Udoma said in addition to the total of N2,439.9 trillion so far released for capital, Non-debt Recurrent and Service-wide vote expenditure, a total of N1,137.7
trillion had also been paid out in domestic and foreign debt service expenditure. This, he said, included N44 billion transferred to the Sinking Fund to retire maturing
obligations on bonds issued to contractors. “To date, budgeted personnel cost and debt service obligations Continued on page 6
Mimiko: There May Be Breakdown of Law and Order if INEC Insists on Jimoh Ibrahim
Violence orchestrated by governor, alleges candidate Makarfi’s faction expresses shock, warns against 1965/66 and ’83 violence Fayose: APC, INEC out to kill democracy ONYEKACHI OKONKWO
Tobi Soniyi and Onyebuchi Ezigbo in Abuja, James Sowole in Akure, Olakiitan Victor in Ado Ekiti, Akinwale Akintunde in Lagos Governor Olusegun Mimiko of Ondo State, after a visit to President Muhammadu Buhari in Abuja yesterday, warned that the substitution of Eyitayo Jegede with Jimoh Ibrahim as the candidate of the Peoples Democratic Party (PDP) in the forthcoming governorship election in the state by the Independent National Electoral Commission (INEC) could lead to violence. As envisaged by Mimiko, sporadic protests erupted early in the day in Akure, the Ondo State capital and Ondo City over the recognition of Ibrahim by INEC. But in a swift reaction, Ibrahim, in a press statement alleged that the violent protest was orchestrated by Mimiko. The Ondo State governor told President Buhari that the substitution of Jegede, with Ibrahim could lead to breakdown Continued on page 6
How I Became Successful at 39
SuperSaturday pg. 8-9
LOLO 1
I Have Three Sons, One Daughter But I Am Single
Plus pg. 17-19
LEADERSHIP RETREAT
L-R: Sokoto State Governor, Aminu Waziri Tambuwal; National Chairman of All Progressives Congress (APC), Dr. John Odigie-Oyegun; and Kano State Governor, Dr. Abdullahi Ganduje at the opening of a retreat for Kano APC leaders in Sokoto ...yesterday
Southern Kaduna Elders Condemn Killings by Herdsmen, Say Enough is Enough ... Page 61