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Sunday, July 5, 2020

Nigeria’s record 2017 budget passes second reading

Nigeria's 2017 budget moved a step closer on Thursday to becoming law, as it passed its second reading in the upper house of parliament. The record 7.298 trillion naira ($24 billion) budget is a key part of President Muhammadu Buhari's plan to pull Nigeria out...

Ekiti’s N94.5b budget for 2017 will be use to complete on-going infrastructural projects

Ekiti State Government says the main focus of its N94.5b budget for 2017 is to complete all on-going projects that were designed to take Ekiti to a higher pedestal as well as guarantee the provision of social amenities, infrastructural development, education, agriculture and security...

2017 Budget at $42 Oil Benchmark will Boost Nigeria’s Excess Crude Account – FRC

The Fiscal Responsibility Commission (FRC) stated on Tuesday that leaving the crude oil benchmark at 42 dollars per barrel as contained in the 2017 appropriation bill would have made room for savings in the Excess Crude Account (ECA). The Acting Chairman, Mr Victor Muruako, told...

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...

2017 Budget: CSJ uncovers N146bn project duplication

The Centre for Social Justice (CSJ) has said that the N7.298tn 2017 budget estimate which is 20.4 percent higher than 2016 estimates of N6.07tn should be reduced by as much as N146bn. The lead director of the centre Barrister Eze Onyekpere who presented a report...

Okorocha presents N276 billion budget for 2019

Gov. Rochas Okorocha of Imo on Thursday presented a budget of N276 billion for 2019 to the state House of Assembly. The budget tagged ‘Budget of Consolidation and Economic stability’ has a capital expenditure of N214 billion representing 77.54 per cent and the recurrent expenditure...

Senate increase 2020 budget to 10.729 trillion naira on $57 per barrel

ABUJA, Oct 3 - Nigeria’s legislature on Thursday increased the value of the country’s 2020 budget outline to 10.729 trillion naira ($35 billion) based on expectations of higher oil prices. The legislature passed a medium-term expenditure framework that increased the anticipated oil price to...

In 9 months, Nigeria spends N1.1trn on local debt servicing

Between January and September last year, the Federal Government spent N1.094 trillion on debt servicing. A document sighted yesterday by our reporter revealed that N1.044 trillion was spent on local debt servicing as against the N980.55 billion appropriated, representing N63.45 billion extra-budgetary expenditure. The document also...

Masari signs revised 2020 Katsina budget into law

Governor Aminu Bello Masari of Katsina State has signed the revised 2020 budget for the state into law. The signing ceremony which held at Council Chambers, Government House Katsina was witnessed by the leadership of the State House of Assembly led by the speaker,A lhaji...

Gov. Bello signs N176b 2020 Budget into Law

Gov. Yahaya Bello of Kogi on Wednesday signed N176 billion 2020 Budget of the State into law, tagged: ”Budget of Prosperity”, for capital and recurrent expenditures Bello commended the Assembly members for their patriotism and commitment to serve the people of the state after signing...
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