 It has been recognized that the budget is perhaps the most important instrument for the development of any modern state apart from the constitution. Now, it can be argued that it is only true that in the mentality of the budget, the government can allocate resources to deliver services to the people, especially the poor and the excluded. But in Nigeria, there are lots of blockages to effective budgeting. These blockages include lack of participation of citizens in the budget process, especially in identifying projects that should go into the budget and effectively track the implementation, lack of access to budget documents and regular reports by government, inadequate auditing and oversight by relevant bodies, poor linkage between plans and budgets, and a lot of free-volus expenditure that cannot stand any reason. Our focus today is on budget tracking and an need for citizens' engagement. Business Insights starts right now. I am Justin Akadone. A welcome back nuts round up of our major business headlines. The Nigerian equities market closed negative as the key market indicator to climb by 396.35 basis point and meet positive market breadth. The NGSO share index to climb by 0.75% to close at 52,209.05 basis point as against the 0.05% loss recorded previously to close at 52,605.41 basis point at the end of the last trading session. In Niger terms, the NGX market cap records 215.68 billion NIRL loss. Here to date, the NGX ASI stands at 1.87%. The total volume traded declined by 13.52% to close at 554.31 million NIRL, valued at 5.96 billion NIRL and traded in 5168 days. Access Core was the most traded stock by volume and value with 139.29 million NIRL and 1.47 billion units traded. The NGX sector index was broadly negative as 10 NGX sector index closed southward, 8 sector index closed northward and 2 closed flat. The Tony index advanced by 2.41% to top. The Gainer's chart while the NGX industrial index declined by 3.40% to top. The Loser's chart. Now President Mohammed Buhari has etched the Senate to approve a fresh loan request of $800 million. Buhari in a letter read by Senate President Ahmad Lawan at Plenary said the loan would be utilized to scale up the National Social Safety Net Program. He added that the loan would be sourced from the World Bank. Buhari said the intervention program would stimulate activities in the informal sector, improve nutrition, health, education and human capital development for the beneficiary of the households. To the tune of USD 800 million to be skewered from the World Bank for the National Social Safety Net Program and the need to request for your consideration and approval to ensure early implementation of a copy of FACE extract attached. The Senate may wish to know that the program is intended to expand coverage of shock-responsive safety net support among the poor of vulnerable Nigerians. Moving on now, Director-General of the Budget Office of the Federation, Ben Akabwezi has disclosed that Nigeria needs about $100 billion yearly to fix its infrastructural needs. Akabwezi disclosed this during the third day of the induction ceremony, organized for the 10th Assembly Senators Elect, a members elect in Abuja. Now he said, million of us, we are millions in Nigeria and we are currently prompting or pumping about 1.9 million barrels per day and we need so much to expand and to service our debts. Now the Central Bank of Nigeria has urged Nigerians to disregard news of the expiration date for the bank verification number BVN. The bank stated that the BVN remains for life as it has no expiry date. This was disclosed in a statement by the Acting Director, Corporate Communications, Issa Abdul-Mu'min, reacting to claims of expiration by a national newspaper. Abdul-Mu'min said the bank verification number BVN issued in Nigeria remains for life and has no expiry date, citing that the claim was completely forced and urged banks to advise their customers to ignore the report. Our business insights will continue in a moment. We'll take a quick break and when we come back, we'll be looking at budget, time tracking, and of course the need for citizens to be well involved in a moment to join us again.