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Thursday, July 16, 2020

Depth of changes National Assembly made on 2017 budget – Fashola

The depth of the changes the National Assembly made in the 2017 budget was revealed yesterday by Minister of Power, Works and Housing Babatunde Fashola. The lawmakers slashed N21billion off the N31billion vote for the Lagos –Ibadan Expressway. The contractor is threatening to abandon the...

Akeredolu approves N170.8bn as Ondo’s State budget

Threatens to sack any civil servants caught pilfering State's public fund The Ondo state governor, Rotimi Akeredolu on Tuesday approved the N170.8 billion budget passed by the state House of Assembly. Components of the budget are: debt servicing, N8.127 billion; Statutory transfer N8.374 billion; Recurrent...

FG seeks to align 2018 budget with ERGP for submission in October

The Federal Ministry of Budget and National Planning on Tuesday in Abuja began the process of preparation for the 2018 budget proposals. The early preparation is to meet up with a resolution that the Executive will submit 2018 budget proposals by October  to the National...

Osinbajo seeks Senate approval for $1.5 billion loan for states’ infrastructure projects

The Acting President, Yemi Osinbajo, has asked the Senate to approve $1.5 billion loan. The loan is part of the 2016-2018 External Borrowing Plan of the federal government and is meant for projects in 10 states, the News Agency of Nigeria reports. Recall that the Acting...

Nigeria’s economic growth to increase in 3Q, 4Q as FG boosts its budgetary spending – Rewane

The Managing Director of Financial Derivatives Company Limited, a local research and investment firm, Mr. Bismarck Rewane, has said economic growth will increase in the second and third quarters of this year as Federal Government increases its budgetary spending. He said following the passage of...

Delayed implementation of Expansionary fiscal budget to hamper Nigeria’s economic growth -Analyst

Delayed implementation of an expansionary fiscal budget will once again weigh on Nigeria's economic growth trajectory in 2017, following a similar debacle in 2016. On the positive side, rising oil revenues will enable greater spending without giving rise to a dangerous fiscal deficit but...

Group lauds FG for facilitating SMEs growth in 2017 budget

Enugu Coalition of Business and Professional Associations (ECOBPA) has lauded the Federal Government for various provisions in the 2017 Budget meant to facilitate the growth of Small and Medium Enterprises (SMEs). The Coordinator of the group, Chief Emeka Okereke, gave the commendation in an...

FG included funds in 2017 budget to revive Kano Industrial Estates

Budget and National Planning Minister, Senator Udoma Udo Udoma told the Kano State Government on Tuesday that Nigerians would like to see the state return to its former status as a major industrial and commercial hub in the country. The Minister who...

Budget minister says latest GDP data reveals Nigeria is moving out of recession

Nigeria is moving out of recession, its budget minister said on Wednesday. "We discussed at length the GDP results just released and found the GDP performance very encouraging," Udoma Udo Udoma, minister for budget and national planing, said after a cabinet meeting. He was referring to...

Nigerian parliament sign off record $24.4 billion budget to escape recession

ABUJA May 11 - Nigeria's parliament signed off on a record 7.44 trillion naira ($24.4 billion) budget for 2017 on Thursday, aiming to drag Africa's biggest economy out of its first downturn in quarter of a century, lawmakers said. The oil producer is in...
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