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Monday, July 6, 2020

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...

UPDATED: Senate approves Buhari’s request to borrow $22.8bn as debt service costs surges

ABUJA, March 5 - Nigeria’s upper house of parliament has approved foreign borrowings of $22.7 billion requested by President Muhammadu Buhari, the Senate President said on Thursday. About $17.06 billion of the total loans will be provided by China’s Eximbank, while the World Bank,...

UPDATED: As Coronavirus cracks down oil price to $57 per barrel Nigeria may review 2020 budget benchmark at $45bpd

The Federal Government on Wednesday said it would revise the benchmark if oil price remains at $57 per barrel the rest of the year occasioned by coroner virus outbreak. Consequently the FG through the budget office is planning a media budget review in June. Ben Akabueze,...

Gov. Ishaku signs N215.8Bn Taraba 2020 Appropriation Bill into law

Governor Darius Dickson Ishaku on Friday in Abuja, signed into law Taraba State’s 2020 Appropriation Bill of N215.8b. The figure represents an increase of two N2.2b from the N213. 6b he submitted to the State House of Assembly on December 19, 2019. Titled “Budget of...

Masari signs N244.8 bn 2020 budget into law

Gov. Aminu Masari of Katsina State on Thursday signed the state’s N244.8 billion 2020 budget into law. The budget, which was tagged “Budget of Reflection and Progress”, was aimed at ensuring continuation of the restoration agenda and policies of the administration. Masari said at the ceremony...

Lagos Assembly passes Lagos 2020 budget of N1.168trn

The Lagos House of Assembly has passed the year 2020 budget of N1.168 trillion. The passage followed the presentation of a report by the joint committee of the House on Appropriation and Finance by the Chairman of the House Committee on Budget and Economic Planning,...

Lagos to spend N115bln on public infrastructure as Sanwo-Olu signs N1.168trn 2020 buget into law

...Promises Transparency, Over 90 Per Cent Implementation Performance Lagos State Governor, Mr. Babajide Sanwo-Olu, has signed the State’s N1.168 Trillion 2020 Budget into law. The Governor assented to the Appropriation Bill at a short ceremony held in Alausa on Tuesday, pledging that the State would be...

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...

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...

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...
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