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Nigerian president signs $29 bln 2019 budget into law

Felix Onuah ABUJA - Nigerian President Muhammadu Buhari signed an 8.9 trillion naira ($29 billion) budget for 2019 into law on Monday. Approved by lawmakers last month, the budget is based on estimated oil production of 2.3 million barrels a day, an assumed crude...

Nigeria may pass Budget 2019 Budget tomorrow

BARRING the unforeseen, the National Assembly will pass this year’s Appropriation Bill tomorrow. It was learnt yesterday that the Appropriation Committees of the Senate and House of Representatives have been working round the clock to ensure the submission of budget reports to the two chambers...

UPDATED: Nigeria plans concessionary loans to fund 2019 budget as debt serving cost rise

ABUJA, March 27 - Nigeria plans to tap concessionary long-term loans to finance its 2019 budget in addition to borrowing at home, Finance Minister Zainab Ahmed said on Wednesday. “We intend to fund the 2019 budget through borrowing locally and internationally with a spread of...

Nigeria to release N750b capex fund this week

A total of N750 billion would be released this week to Ministries, Departments and Agencies (MDAs) of government for implementation of capital projects contained in the 2017 Budget. If the capital release is made as planned, it will bring total sum so far relaesed by...

UPDATED: Nigeria’s Senate passes 2018-2020 budget framework, raises oil price estimate

ABUJA - Nigeria’s Senate passed its medium-term expenditure framework for 2018-2020 on Tuesday, raising its oil price assumption to $47 from $45 per barrel. The document, which the government agreed upon in August before sending it to lawmakers for approval, is the framework used to...
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