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Governor Alex Otti Proposes ₦750 Billion Budget for 2025 Fiscal Year.

Ikechukwu Emmanuel

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Governor Alex Otti of Abia State has submitted a proposed budget of ₦750 billion for the 2025 fiscal year to the state House of Assembly for review and approval. This budget reflects a notable increase of approximately 30% from the previous year’s budget of ₦523 billion.

In his presentation, titled “Budget of Sustained Momentum,” Otti allocated ₦611.7 billion, or 82% of the total budget, for capital expenditures, while ₦138.6 billion, representing 18%, is earmarked for recurrent expenditures. The governor acknowledged the significant economic challenges facing the state, including inflation and fluctuating exchange rates, which have impacted fiscal strategies.

Otti highlighted several key initiatives within the proposed budget. Notably, ₦13 billion is designated for the establishment of agro-industrial processing zones in the local government areas of Bende, Ukwa, and Umunneochi. Additionally, ₦55 billion is allocated for ongoing and new road projects, with plans to construct 170 kilometers of rural roads across all 17 local government areas. Furthermore, ₦4 billion is set aside for the refurbishment and reticulation of a 47-kilometer pipeline for the Umuahia Regional Water Scheme.

The health and education sectors are prioritized, with a combined total of 35% of the budget allocated—15% for health and 20% for education. Otti emphasized that the budget was developed with significant input from the citizens of Abia State, who participated in various engagement sessions.

In terms of revenue projections, the governor anticipates a 213% increase in the state’s internally generated revenue (IGR), alongside substantial rises in statutory allocations, grants, and Value Added Tax (VAT). To finance the remaining ₦364.1 billion, which constitutes about 51% of the budget, the administration plans to utilize borrowing from domestic and multilateral channels, ensuring that all borrowing is strictly for project execution.

Governor Otti reassured the assembly that no funds had been borrowed to date and that his administration remains committed to fiscal discipline. He reiterated that borrowing would only occur when necessary and exclusively for projects that would generate returns.

In response, the Speaker of the Abia State House of Assembly, Rt. Hon. Emmanuel Emeruwa, commended the governor’s budget proposal, affirming the House’s support in achieving the outlined goals for the 2025 fiscal year. The proposed budget signifies a strategic approach to addressing the developmental needs of Abia State while ensuring financial prudence.

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Foreign

UK Deploys Military Assets to Middle East Amidst Escalating Iran-Israel Conflict.

Ikechukwu Emmanuel

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In response to the escalating conflict between Iran and Israel, the United Kingdom is deploying fighter jets and other military assets to the Middle East. Prime Minister Keir Starmer announced the deployment, stating it is for “contingency support.”

The Prime Minister has engaged in discussions with both US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu, emphasizing the need for de-escalation. Foreign Secretary David Lammy has also communicated with Iranian officials, urging restraint and emphasizing the importance of protecting civilians.

The UK’s actions reflect a commitment to regional stability and a concerted effort to prevent further escalation of the conflict. Ongoing discussions with allies aim to de-escalate the situation and promote a peaceful resolution.

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A person who attacked and killed a Nigerian schoolboy with a sword in the UK has been sentenced to life in prison.

Ikechukwu Emmanuel

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Marcus Monzo, a 37-year-old of Spanish-Brazilian descent, has been sentenced to life imprisonment with a minimum term of 40 years for the murder of 14-year-old Daniel Anjorin in Hainault, northeast London. The sentencing follows Monzo’s conviction for the unprovoked and brutal attack on Daniel, as well as attacks on other members of the public and police officers, in April of last year.

The court heard how Monzo, under the influence of cannabis-induced psychosis, initiated a violent rampage, culminating in the near-decapitation of Daniel Anjorin as the young boy walked to school. Judge Joel Bennathan strongly condemned Monzo’s actions, acknowledging the profound grief inflicted upon Daniel’s family.

Judge Bennathan also commended the bravery of the police officers involved, highlighting their courage in confronting and disarming Monzo, thereby protecting the public. Monzo’s sentence reflects the severity of his crimes and the devastating impact on the victims and the community.

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Chinese Tax Fraud Suspect Apprehended in Nigeria, Repatriated to China.

Ikechukwu Emmanuel

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In a coordinated effort between the Nigeria Police Force and Chinese authorities, a Chinese national wanted on charges of tax fraud has been arrested in Lagos and repatriated to China. The suspect, Chen Gaochong, was apprehended on June 24 following an operation led by the INTERPOL National Central Bureau in Abuja, prompted by a formal request from the Chinese government.

Mr. Chen is accused by the Peixian Public Security Bureau in Jiangsu Province of issuing falsified Value Added Tax (VAT) invoices totaling 4.97 million renminbi (approximately N1,057,561,330). He allegedly used the names of Linhai Guangyong and Linhai Beilaisi to generate 45 fake VAT invoices issued to Xuzhou Wanfeng Plastic Industry Company between May and August 2017.

Authorities stated that Mr. Chen fled China in November 2019, moving through Hong Kong and Burkina Faso before unlawfully entering Nigeria in 2021. He reportedly avoided renewing his passport to conceal his identity. An arrest warrant was issued in July 2020.

Mr. Chen was handed over to Chinese law enforcement on July 3. Inspector-General of Police Kayode Egbetokun affirmed that Nigeria will not serve as a refuge for fugitives, emphasizing the significance of international cooperation in combating cross-border crime. The Nigeria Police Force reiterated its commitment to collaborating with international law enforcement agencies and upholding mutual legal assistance obligations.

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