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Friday, July 3, 2020

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...

Nigeria to cut budget in face of oil price crash -finance minister

ABUJA (Reuters) - Nigeria will cut size of its budget in the face of sharp declines in the price of crude oil, the nation’s finance minister told reporters on Monday. Zainab Ahmed, speaking in Abuja after a meeting with President Muhammadu Buhari, said a committee...

Fayemi signs revised Appropriation bill of N91.128bn into law

The Governor of Ekiti State, Dr Kayode Fayemi on Monday signed the Revised/Supplementary Appropriation Bill of N91.128bn to law in response to the prevailing economic challenges occasioned by unprecedented fall in the price of crude oil and other prevailing economic indices. Dr. Fayemi, assented to...

Gov. Bello presents 2020 Appropriation Bill of N176.9 billion to Kogi Assembly

Gov. Bello presents 2020 Appropriation Bill of N176.9 billion to Kogi governor presents N174.9 billion budget for 2017 Gov Bello presents N146.7bn Appropriation Bill to Kogi Assembly Abia gov presents N136.6 billion budget estimates for 2020 Katsina Gov. presents N200.7 billion budget to state assembly Governor Yahaya Bello...

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...

Adamawa assembly passes N183 bn budget for 2020

By NAN The Adamawa House of Assembly on Thursday passed the state’s N183 billion budget for 2020. This followed the adoption of the report of the House Committee on Finance, Budget and Appropriation presented by the chairman, Mrs Kate Mamuno (PDP-Demsa) at plenary. Mr Hammantukur Yettusiri, the...

BREAKING: Senate receives 2020 budget report, may increase capital allocation by N500bn

The Chairman Senate Committee on Appropriation, Senator Jibrin Barau, on Wednesday laid the report of the 2020 Appropriation Bill before the Senate. A motion to present the report was moved by the Chairman Senate Committee on Appropriations, Senator Jibrin Barau and seconded by Senator Bassey...

How Lagos would spend N1.17trn for 2020 fiscal year- Commissioner

Lagos state government has indicated that the state was faced with daunting challenges that required far more resources than is presently available. It also hinted that it was mobilizing the entire citizens of the state to enable it meet the challenges. Commissioner for Economic Planning...

Breakdown Of 2020 Budget Presentation By President Buhari

President Muhammadu Buhari on Tuesday presented a N10.729 trillion 2020 budget estimate to the joint session of the National Assembly for approval. According to the figures, N2.46 trillion has been allocated for capital projects in the figures based on $57/barrel oil price and 7.5% VAT. Below...

2020 Budget: Senate Adjourns Plenary to Oct. 29 for Committees to Engage MDAs

The Senate on Tuesday adjourned plenary to October 29 to enable its committees to engage the ministries, departments and agencies (MDAs) over the 2020 budget proposals. Senate President, Dr Ahmad Lawan, who made the announcement before the end of the day’s plenary advised the Ministers...
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