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Obaseki presents N320.35 billion 2023 budget to Edo Assembly

Edo State Governor, Godwin Obaseki, yesterday, presented the N320.35 billion budget to the Edo State House of Assembly for the 2023 fiscal year, representing a 69.37 per cent increase from the N222 billion budgeted for the year 2022.
A statement by Crusoe Osagie, media aide to the governor, quoted Obaseki, who presented the budget to the Assembly, sitting at the Anthony Enahoro Assembly Complex in Benin City, as saying that the budget comprised N192 billion for capital and N127.5 billion for recurrent expenditure.
Guests present at the budget presentation include Edo State Deputy Governor, Philip Shaibu; Secretary to the State Government, Osarodion Ogie; Chief of Staff to the Governor, Osaigbovo Iyoha and Edo State Head of Service, Anthony Okungbowa.
Others are Commissioner for Communication and Orientation, Chris Nehikhare; Commissioner for Local Government and Chieftaincy Affairs, Monday Osaigbovo; Commissioner for Business, Investment and Cooperative, Aishatu Braimoh and Commissioner for Youth and Gender Issues, Andrew Emwanta, among others.
According to the governor, the document, christened ‘Budget of Resilience and Transformation,’ is informed by the need to “build a resilient and sustainable foundation for the reforms, initiatives and programmes that we have embarked on in the last six years.”
He added: “Our strategic goal is to utilise manufacturing, technology, agriculture, arts, culture and entertainment as the catalyst to promote sustained investment across all sectors of the Edo economy.”
Obaseki noted that the projected revenue for 2023 is N300 billion, consisting of N144.26 billion statutory allocation, made up of Value Added Tax (VAT) of N41.2 billion; capital receipts of 46.1bn; IGR, N60.4 billion and N4 billion from grants, among others, adding: “The balance of will be sourced from development financing and financial institutions.”
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He said: “The revenue estimates for the budget is based on a $70 per barrel benchmark for crude oil and average daily production of 1.69m barrels per day as well as an increase in Internally Generated Revenue (IGR) to N60.4 billion, owing to reforms in tax collection and land management activities.
“Our intention is to push for revenue and reforms in the built environment. We are committed to boosting capital spending this year. To this end, we expect a capital/recurrent expenditure ratio of 60.2 per cent to 39.8 per cent respectively. This would reinvigorate the economy, providing the right impetus for the needed growth expected in the year.”
Receiving the 2023 budget proposal, Speaker of the Edo State House of Assembly, Marcus Onobun, hailed the governor for his efforts at ensuring economic prosperity for the state, adding: “It is worthy to note that at the presentation of the year 2022 budget, you made certain commitments to the people of Edo in relation to infrastructural transformation, healthcare, education and economic development of the State.
“It is commendable that despite the looming global economic meltdown and other uncertainties, you were able to deliver set goals as outlined. On behalf of my colleagues, I applaud you for your sterling performance despite the odds. We applaud your visionary initiatives, leadership, passion, strategic innovation and dedication to our dear state and its people.”
Headlines
China Introduces Instant Tax Refunds for Foreign Tourists to Boost Shopping Experience

China has revamped its tax refund policy for foreign tourists, shifting from a refund-upon-departure model to a more convenient refund-upon-purchase system, according to the State Taxation Administration (STA).
The STA announced on Tuesday that under the new system, foreign visitors can now claim Value Added Tax (VAT) rebates instantly at designated tax-free stores. This change allows tourists to use their refunded amount immediately for additional shopping, enhancing their overall experience in China.
Previously, VAT rebates could only be withdrawn upon departure, but with the new policy, tourists will be able to access their refunds in real-time during their stay. The policy, which was initially tested in cities like Shanghai, Beijing, and Guangdong, has now passed all operational requirements and will be rolled out nationwide.
The STA emphasized its dedication to improving policy guidance and simplifying refund procedures to better serve international visitors.
Li Xuhong, Vice-President and Professor at the Beijing National Accounting Institute, welcomed the change, stating that the nationwide implementation would raise China’s tourism service standards. “It will foster a friendly, efficient, and convenient tourism environment,” Xuhong added.
Headlines
Nigeria Reaffirms Commitment to One-China Policy Amid Taiwan’s Trade Office Claims

Rep. Jaafaru Yakubu, Chairman of the House of Representatives Committee on China-Nigeria Parliamentary Relations, has reiterated Nigeria’s firm commitment to the One-China Policy, following recent comments by Taiwan’s Trade Mission Head in Nigeria, Andy Yih-Ping Liu.
Speaking in Abuja on Tuesday, Yakubu firmly declared that Nigeria continues to recognize Taiwan as an integral part of the People’s Republic of China. He rejected Liu’s claim that Taiwan was not part of China, labelling it as “propaganda” aimed at undermining the strong diplomatic ties between Nigeria and China.
“For the record, United Nations General Assembly Resolution 2758, adopted in 1971, recognised the People’s Republic of China as the sole legitimate representative of all of China, including Taiwan,” Yakubu stated. “The One-China Policy remains the cornerstone of China-Nigeria relations.”
He emphasized that since Nigeria and China established diplomatic ties in 1971, the country has consistently upheld this principle. “Efforts by Taiwan’s trade office to challenge this stance are futile and will not succeed,” Yakubu added.
Yakubu criticized Liu’s comments as an attempt to draw Nigeria into China’s internal matters, accusing the Taiwanese official of deliberately sowing discord and provoking a diplomatic rift. “Nigeria’s relationship with China is built on mutual respect and non-interference in each other’s political matters,” he said.
In response to Liu’s claim that China acted as a bully, Yakubu pointed to the positive trajectory of Nigeria-China relations. “Contrary to these baseless assertions, Nigeria has enjoyed a mutually beneficial partnership with China, yielding tangible results for both nations. Since 1971, our ties have grown significantly.”
He highlighted the strategic nature of the partnership, referencing the elevation of the relationship to a Comprehensive Strategic Partnership during the 2024 FOCAC Summit in Beijing. “Today, Nigeria stands as China’s second-largest trading partner in Africa, with bilateral trade surpassing 20 billion dollars,” Yakubu noted.
Furthermore, Yakubu praised China’s role in Nigeria’s infrastructural development, with investments in sectors such as rail networks, roads, ports, power stations, and water treatment facilities.
Headlines
Shettima Warns Media Against Romanticising National Challenges

Vice President Kashim Shettima has cautioned Nigerian media practitioners against the growing tendency to romanticise serious national issues, describing the trend as a dangerous departure from the media’s constitutional duty of promoting truth and accountability.
Represented by his Special Adviser on Special Duties, Modibbo Umar, the Vice President issued the warning on Tuesday while delivering a speech at the 17th LEADERSHIP Conference and Awards held at the Old Banquet Hall of the State House, Abuja.
“We must resist the temptation to romanticise serious national issues or frame them in ways that distort public understanding,” Shettima said. “Doing so only weakens the fabric of our democracy and derails our collective efforts at nation-building.”
The Vice President’s remarks came as stakeholders in governance, business, and civil society gathered to reflect on the theme of the event, “Challenges and Opportunities in Nigeria’s Fiscal Federalism.” The conference provided a platform for thoughtful engagement on some of the country’s most pressing issues, with a focus on the responsibilities of leadership at all levels.
Shettima also used the occasion to commend LEADERSHIP Newspapers Group for its consistent contributions to national discourse and its commitment to celebrating excellence in leadership.
“I commend LEADERSHIP Newspaper for the vision to convene this vital discourse and for shining the light on those who have chosen to lead with courage and competence. May we never tire of striving for a better Nigeria,” he said.
The annual LEADERSHIP Conference and Awards continues to be a major event that brings together influential voices to deliberate on national progress and honour individuals and institutions making meaningful impact in society.
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