The management and staff of the fast growing supermarket, restaurant and bar, Fresh Mart on Friday, October 1, 2021 celebrated one year anniversary of existence amidst funfair and excitement, which was described as a first of its kind and unprecedented.
The epochal celebration took place at the organization’s premises, along Old Lagos/Asaba Road, Agbor, Delta State. In celebrating the anniversary, a twenty percent discount on every product was given to their customers.
Speaking with Ika Mirror reporters, the manager of the company, Mr. Reginald Nnadi who spoke on behalf of the C.E.O of the company, Mr Kanayo Jonah, said that it is a thing of joy to complete a year of existence as an organization.
” At first, I thought coming to Agbor will not yield any tangible result, because it is a developing town, but today the reverse is the case. The past one year has not been rosy, but consistency and hard work brought us this far. We have been able to showcase Agbor to the world. We have proved that business can grow in Agbor.
We are looking forward to establish more supermarkets, so as to employ more people.
We heartily appreciate our esteemed customers, without them, there will not be us. We promise to step up our good work to ensure that we have every product they want”, he added.
Also speaking with some customers, Mr. Jerry Ijeh and Mr. Felix, noted that it is quite amazing for Fresh Mart to celebrate one year anniversary, stating that they are indeed happy for them. According to them, "They have really tried to be nice to their customers. We give kudos to the management of this company for setting up this gigantic organization. It is not really easy to sail through Covid 19 and set up this magnificent company with high standard of service delivery. Thus, Fresh Mart has come to stay. They are not competing with anybody, but run their own business at a good pace. The management and staff should keep up their good work and ensure that every customer is treated equally".
[10/7, 5:50 PM] +234 906 940 1683: Buhari presents N16.39trn 2022 Budget proposal to joint session of NASS
President Muhammadu Buhari has presented the 2022 Appropriation Bill for an aggregate expenditure of N16.39 trillion to the National Assembly by President Muhammadu Buhari.
Addressing the joint session of the NASS on Wednesday in Abuja, the president described the 2022 Appropriation as Budget of Economic Growth and Sustainability.
According to him, the 2022 budget is also the first in the nation history, where Ministries, Developments and Agencies (MDAs) were clearly advised on gender responsive budgeting.
“These are part of critical steps in our efforts to distribute resources fairly and reach vulnerable groups of our society,” he said.
He maintained that defence and internal security would continue to be on top priority of his administration.
“We remain firmly committed to the security of life, property and investment nationwide.
“We will continue to ensure that our gallant men and women in the armed forces, police and paramilitary units are properly equipped, remunerated and well-motivated,” he added.
On the parameters and fiscal assumptions of the 2022 Appropriation bill, the president told the legislators that the 2022 to 2024 Medium Term Expenditure Framework and Fiscal Strategy Paper sets out the parameters for the 2022 Budget is Conservative oil price benchmark of 57 US Dollars per barrel;
Other parameters are Daily oil production estimate of 1.88 million barrels (inclusive of Condensates of 300,000 to 400,000 barrels per day); Exchange rate of four 410.15 per US Dollar; and Projected GDP growth rate of 4.2 percent and 13 per cent inflation rate.
“Based on these fiscal assumptions and parameters, total federally-collectible revenue is estimated at 17.70 trillion Naira in 2022.
“Total federally distributable revenue is estimated at 12.72 trillion Naira in 2022 while total revenue available to fund the 2022 Federal Budget is estimated at 10.13 trillion Naira.”
He said this included Grants and Aid of N63.38 billion, as well as the revenues of 63 Government-Owned Enterprises.
President Buhari said the oil revenue was projected at N3.16 trillion, non-oil taxes are estimated at N2.13 trillion and Federal Government’s Independent revenues are projected to be N1.82 trillion.
According to him, Nigeria is currently emerging from a very difficult economic challenge, saying that the 2022 is a crucial year for the completion of his administration’s legacy projects.
He said: “We must continue to cooperate and ensure that our actions are aimed at accelerating the pace of economic recovery so that we can achieve economic prosperity and deliver on our promises to the Nigerian people.
“The fiscal year 2022 is very crucial in our efforts to ensure that critical projects are completed, put to use and improve the general living conditions of our people.”
The president also highlighted the performance of the 2021 budget, saying:
“By July 2021, Nigeria’s daily oil production averaged one 1.70million barrels (inclusive of condensates) and the market price of Bonny Light crude averaged 68.53 US Dollars per barrel.
“Accordingly, actual revenues were 34 percent below target as of July 2021, mainly due to the underperformance of oil and gas revenue sources.
“Federal Government’s retained revenues (excluding Government Owned Enterprises) amounted to 2.61 trillion Naira against the proportionate target of 3.95 trillion Naira for the period.
“The Federal Government’s share of Oil revenue totalled 570.23 billion Naira as of July 2021, which was 51 percent below target, while non-oil tax revenues totalled 964.13 billion Naira.”
He noted that the poor performance of oil revenue relative to the budget was largely due to the shortfall in production as well as significant cost recovery by NNPC to cover the shortfall between its cost of importing petrol and the pump price
President Buhari, who commended the legislators for the expeditious consideration and passage of the Supplementary Appropriation Bill 2021 , assured the strong commitment of the Executive to strengthen the relationship with the National Assembly
“let me start by commending you for the expeditious consideration and passage of the Supplementary Appropriation Bill 2021.
“This further underscores your commitment to our collective efforts to contain the COVID-19 Pandemic and address the various security challenges facing our country.
“I will also take this opportunity to thank you for the quick consideration and approval of the 2022-2024 Medium-term Expenditure Framework and Fiscal Strategy Paper,” he added
The president expressed the hope that the National Assembly would continue to partner with the Executive by ensuring that “deliberations on the 2022 Budget are completed before the end of this year so that the Appropriation Act can come into effect by the first of January 2022.”.