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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...

Nigerians react to 2018 budget passage

National Assembly approves N9.120 trillion • Nigerians in mixed reactions over delay, allocations • Buhari yet to get petroleum bill, says presidency The two chambers of the National Assembly, yesterday, passed the 2018 budget totaling N9.120, 334,988,225.The budget is over N500 billion higher than the N8.612 trillion...

Nigeria Seeks to Narrow Budget Gap With More Non-Oil Revenue

Nigerian President Muhammadu Buhari is projecting the nation’s budget shortfall will narrow next year as revenue from non-oil sources increases. Buhari asked lawmakers on Tuesday to approve the 2018 budget with a deficit of 2 trillion naira ($5.6 billion), compared to this year’s estimated fiscal...

Nigeria’s parliament plan to pass 2019 budget on April 16

The Senate has promised to pass the 2019 budget on April 16. This is just as President Muhammadu Buhari declined his assent to the National Housing Fund Bill and seven others recently passed by the National Assembly. The Senate President, Bukola Saraki, made...

We will dedicate 2019 budget to complete ongoing infrastructural projects in Lagos – Ambode

…Says Lagos Can’t Afford Break In Progressive Governance …Attends Yoruba Tennis, Island Clubs Christmas Eve Dance Lagos State Governor, Mr Akinwunmi Ambode on Monday evening said the Y2019 budget of the State would be dedicated towards the completion of ongoing infrastructural projects, creation of more...

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...

Nigeria to release N750b capex fund this week

A total of N750 billion would be released this week to Ministries, Departments and Agencies (MDAs) of government for implementation of capital projects contained in the 2017 Budget. If the capital release is made as planned, it will bring total sum so far relaesed by...

Nigeria’s economic recovery plan will focus on macroeconomic stability, food and energy security- spokesman

Nigeria has developed 60 strategies to achieve its economic recovery plan between 2017 to 2020, focusing on macroeconomic stability, small businesses, food and energy security, Budget ministry spokesman James Apande says. Africa's biggest economy relies on crude oil exports to fuel its economy, but...

Nigeria’s 2019 Budget has a funding gap of N102.83 bn — Udoma

Says GDP is expected to grow at 3.01 per cent, while the inflation rate is expected to be 9.98 per cent. Sen. Udoma Udo Udoma, Minister of Budget and National Planning, says the nation’s 2019 budget has a funding gap of N102.83 billion. The...

Nigeria’s 2017 budget could be passed before May – lawmaker

ABUJA, March 27 - Nigeria is likely to pass the 2017 budget into law before May, a lawmaker who chairs a committee on the spending plans in the upper chamber of parliament said on Monday. The budget lays out plans to pull Africa's largest economy...
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