Finally, President Muhammadu Buhari has signed the 2018 Appropriations Law. The signing which happened on June 20 has generated a lot of controversies owing particularly to the observations which the president made at the signing ceremony, observations which were of great concern to patriotic Nigerians who wish for the country to run her processes as […]
* Experts express divergent views over 2018 Budget * It’s disservice to slash funds for impactful infrastructure in 6 geo-political zones- Fasua * ’No, lawmakers must take care of grassroots, correct imbalance’ Controversy has continued to trail the assented 2018 Budget by President Muhammadu Buhari. While some economists and financial analysts bemoaned the alterations made […]
…Ministries with lion’s shares: …Power, Works & Housing – N715bn .Interior- N577bn .Defence- N576bn .Education- N542bn .Health- N356bn The Federal Government has said that it will borrow N1.643 trillion to finance the shortfall in the N9.12 trillion 2018 Budget, adding that the projected deficit is within threshold stipulated in the Fiscal Responsibility Act (FRA) 2007. […]
…Faults N578bn padding by NASS …Decries budget cuts of key projects …Bemoans N14.5bn hike in NASS budget MASS: No, we’re not executive rubber stamp, padding justifiable President Muhammadu Buhari has said he was compelled to sign the 2018 Budget into law given the numerous insertions and alterations made in the budget by the National Assembly […]
* As group lauds NASS The President of the Pharmaceutical Society of Nigeria (PSN), Prof. Ahmed Yakassi, has reiterated that the one per cent Consolidated Revenue Fund (CRF) provision by the National Assembly for primary healthcare in the 2018 budget will directly benefit the poor in the country. Yakasai spoke when he led other executive […]
.Drops Lufthansa as adviser on national carrier establishment .Okays N483m for Immigration vehicles, painting The Federal Government has announced the reappointment of a consortium of banks including Citi Group, Standard Chartered, StanbicIBTC, Whitten-Case and African Practice to handle the $2.5 billion Eurobond – External Borrowing for refinancing of the deficit component of the 2018 Budget. […]
The Director General of Budget Office of the Federation, Mr. Ben Akabueze, has said that the 2018 Budget cannot accommodate the minimum wage as proposed by the Nigeria Labour Congress (NLC). Akabueze however, said that the Federal Government might raise a supplementary budget to implement the new minimum wage if approved by the law. He […]
The House of Representatives Committee on Interior on Thursday queried the duplication of computers and some other line items in the 2018 budget of the Ministry of Interior. The House committee discovered the duplication when officials of the ministry appeared before it to defend the budget proposals of the parent ministry and some of its […]
The Federal Government has said that there are no suspicious items in the 2018 Budget as speculated by a few commentators. Some commentators have made observations and allegations that tend to suggest some line items and projects in the budget are suspicious. But the Ministry of Budget and National Planning, Senator Udoma Udo Udoma in […]
…SGF alludes rise in political activities Secretary to the Government of the Federation (SGF) Boss Mustapha, on Thursday hinted that political activities expected to peak in the current fiscal year will undoubtedly affect the implementation of the 2018 budget of N8.612 trillion. Boss Mustapha dropped the hint at the National Assembly during a meeting he […]
Senator Solomon Adeola, Chairman Senate Committee on Local Content, on Wednesday gave reasons why the Senate may not pass into law the 2018 Appropriation Bill presented to the National Assembly by President Muhammadu Buhari very soon. Adeola, who represents Lagos West at the Upper Legislative Chambers disclosed that the Senate may not pass the budget […]
A budget monitoring advocacy organization, BudgiT has raised the alarm over certain items listed in the 2018 proposed Appropriation Bill which it described as suspicious and needed explanation to avoid the repeated experience of “budget padding.” The 2018 budget is currently being considered by the National Assembly and the group on Wednesday highlighted certain grey […]
Ï Says N8.612trn document full of errors, deceit Ï FG releases N750bn capital projects fund to MDAs Another round of face-off looms between the executive and the legislature over the N8.612 trillion 2018 Budget is imminent as the Senate on Tuesday, criticised President Muhammadu Buhari on what it referred to as shoddy preparations of the […]
..To rehabilitate 181 roads The proposed Y2018 budget of Lagos state tagged: ‘Budget of Progress and Development’, with a size of N1,046,121,181,680 (N1, 046tn), was on Monday presented to the state’s House of Assembly by the Lagos State Governor Akinwunmi Ambode. According to the governor, the budget will be used to consolidate on infrastructure, education, […]
By the requirements of the Fiscal Responsibility Act, 2007, the National Assembly must first approve the MTEF before passing the next budget. So, the 2018 is on its way to an early passage. On Tuesday, the House of Representatives gave it a nod to proceed for second reading. The House also approved $47 as the […]
The seemingly political crisis rocking the Imo State Executive and the legislature played out as the members of the State House of Assembly boycotted the 2018 budget presentation slated for Tuesday. The state government had consistently been announcing the budget 2019 presentation christened “Budget of consolidation II” through the Chief Press Secretary to Governor Rochas […]
…Faults Buhari over 2017 implementation The National Assembly comprising the Senate and the House of Representatives have separately begun debates over the N8.612 trillion 2018 Budget presented by President Muhammadu Buhari on November 7, 2017 to the joint sessions of the lawmakers in Abuja. Both chambers were united that the recurrent expenditure as contained in […]
…Lawmakers express divergent views over MTEF/ FPS …Deputy Speaker begs colleagues to consider proposal The House of Representatives members on Wednesday engaged in brick bats with each other when the Medium Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper (FSP) of the President Muhammadu Buhari administration was to be considered by lawmakers. While members […]
*Says budget contains unrealistic projections The Senate, on Tuesday, berated the N8.612 trillion 2018 Budget, saying that it would end up like that of 2017. The Senate said that it was worried that the budget could be poorly implemented. The Senate, while justifying its position, queried some critical projections used in the budget proposals as […]
… as Reps moves to investigate sale of N20bn PHCN non-core assets The National Assembly is set to begin debates on the N8.612 trillion 2018 Budget presented to it by President Muhammadu Buhari, two weeks ago. While the Senate has said it would commence debate on the budget on November 28 through 29, the House […]