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Thursday, July 9, 2020

Ogun assembly passes 2020 budget

The Ogun State House of Assembly on Friday approved the state’s 2020 budget proposal of N449.9 billion largely retaining the budget presented by the executive. It, however, effected a slight increment of N2.1 billion for capital projects. While the capital component was increased from N269.1 billion...

N1.6trn valued key expenditure items omitted from N10.594 trillion 2020 Budget

A total of N1.635 trillion key expenditure items captured in the 2020-2022 Medium Term Expenditure Framework (MTEF) are missing in the N10.594 trillion 2020 Budget recently passed by the National Assembly and assented to by President Muhammadu Buhari. The MTEF is an annual rolling...

Coronavirus: Niger govt slash 2020 budget by 36%

Amidst the Coronavirus (COVID 19) pandemic, Niger State Executive Council seeks to downsize the 2020 approved budget by 36 per cent. The State Commissioner for Budget and Planning Commission, Alhaji Mamman Musa disclosed this during post exco media briefing held at the Government House, Minna. Alhaji Musa said that...

With Buhari’s New National Security Strategy, Nigeria may struggle to raise budgeted revenue…

In the just concluded week, President Muhammadu Buhari launched a new National Security Strategy in order to further tackle the current threats of insecurity in Nigeria. According to the President, the new security strategy road map would put an end to the insurgency in...

Senate increases FCT budget by N45.48bn

The Senate on Friday passed the 2020 budget of the Federal Capital Territory (FCT) with an increase of N45.48 billion. The Senate President, Ahmad Lawan, called for the full implementation of the budget by the FCT authorities immediately it was passed. The passage of the budget...

Niger-Delta, Health, Education To Suffer N321bn Budget Cut

The slash in the Federal Government’s budget by about N321bn would mostly affect projects to be implemented in the Niger-Delta, North-East, basic education, healthcare and other sectors of the economy. The executive arm of government had on Wednesday sent a revised budget proposal to the...

Lawan: With Budget 2020 Done, Nigeria’s Economy will Improve Next Year

President of the Senate, Ahmad Lawan, has given an assurance that the nation’s economy will pick up from 2020 fiscal year. Lawan, who spoke friday shortly before the Senate adjourned plenary to January 20, stressed that the passage of the 2020 Budget by the National...

Nigeria’s 2020 budget of $28.5bn is unsustainable, say analysts

Nigerian lawmakers are asking how President Muhammadu Buhari’s record-breaking N10.33trn ($28.5bn) budget for 2020 will boost growth. The business community is even more sceptical. Companies are worried that Buhari’s ambitious revenue targets will mean a new tax war on their profits. Targeting big oil Two days after...

In 2020, Nigeria’s N10.59 trillion budget with borrowed fund

Buhari Signs N10.59 Trillion 2020 Budget into Law, Aligns Budget Cycle with Calendar Year... In the just concluded week, President Muhammadu Buhari finally signed the N10.59 trillion 2020 Appropriation Bill into law, which as a result, returned the budget cycle to run from January to...

2020 Budget: FG Proposes N15bn for Group Life Insurance of MDAs

by Ebere Nwoji The federal government has proposed N15 billion for payment of group life insurance of its employees. The proposal was contained in the 2020 Appropriation Bill presented by President Muhammadu Buhari before the National Assembly recently. According to the federal government, the N15 billion would...
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