By Haruna Salami Minister of Works and Housing, Babatunde Fashola, has again lamented funding challenges facing his ministry in the 2023 budget proposal before the National Assembly. While defending the budget of the ministry before the Senate Committee on Works and Housing said “insufficient budgetary provisions which is self-evidence in what you have seen and […]
By Tom Okpe House of Representatives’ Committee on Public Accounts (PAC) has rejected the N5.1 billion budget proposed for Office of the Auditor General of the Federation as contained in the 2023 financial year. PAC, however, summoned Zainab Ahmed, Minister of Finance, Budget and National Planning, Sylva Okolieaboh, acting Accountant General of the Federation, Ben […]
By Ukpono Ukpong In a move to explore how to provide further financial succour for States regarding repayment of the Federal Government’s Budget Support Facility, the National Economic Council (NEC) has decided to review the Central Bank of Nigeria’s (CBN) plan to commence deductions from State governments’ share of the monthly federal allocations. At a […]
By Tom Okpe The House of Representatives investigation by its Committee on Finance into the proposed sale of the National Integrated Power Plant (NIPP) by the Bureau of Public Procurement (BPP), has demanded for the Transmission Company of Nigeria, (TCN)’s 20 years budget and Internally Generated Revenue, (IGR). This is with the aim to address […]
BY BENJAMIN OMOIKE Nigeria’s budget deficit has risen to at least N30.58trillion in the last seven years. This is according to data from budget implementation reports for the third and fourth quarters of 2015; the four quarters of 2016, 2017, 2018, 2019, 2020; the first three quarters of 2021; and the first four months of […]
AHMAD SORONDINKI, KANO Governor Abdullahi Umar Ganduje of Kano State has on Thursday, presented a total of N196,353,469,505:00 as the 2022 proposed budget before the Kano State House of Assembly. Making the presentation at the Assembly complex Thursday, tagged the budget as “Budget for Consolidation and Prosperity” He said, a total of N107.9 billion representing […]
Philip Clement, Abuja The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has said that due to devastating effect of war, the world loses an estimated $100 billion annually. Ahmed explained that security affects the wellbeing of individuals, families, communities, and nation states, which also extends beyond the safeguarding of lives and property […]
As the economy is gradually recovering from the huge impact of the Covid-19 pandemic, there seems to be a major setback as the Federal Government recorded a budget deficit of about N2. 293 trillion in the first quarter of 2021. This is contained in the First Quarter (Q1) Budget Implementation Report (BIR) by the Minister […]
*Says, delay in utilising funds will be seen as sabotage Doosuur Iwambe,Abuja The Africa Health Budget Network (AHBN), has called on the Federal Government to ensure efficient and transparent utilisation of the N500 billion COVID-19, received from the International Monetary Fund (IMF) as a stimulus package for COVID-19 intervention. According to the non governmental organisation […]
PHILIP CLEMENT, ABUJA The minister for Finance, Budget and National Planning, Mrs Zainab Ahmed, says the federal government is looking beyond budgetary allocations to finance critical infrastructure development in the country. Mrs Ahmed who also doubles as Vice-Chair of the National Council on Privatisation (NCP) said this at the recently held webinar on financing public-private […]
SAM NZEH & MOTOLANI OSENI Lagos State government has explained how the N192.494 billion deficit in its 2021 Budget will be funded. The 2021 Budget is christened ‘Budget of Rekindled Hope’ with N1.164 trillion as an appropriated sum. Revealing this during the Facts-Behind-the Figures Media Roundtable held on Thursday in Lagos, Commissioner for Economic Planning […]
FELIX OBOAGWINA Almost two weeks after President Muhammadu Buhari signed the 2021 budget into law, the Honourable Minister of Finance, Budget and Planning, Mrs (Dr) Zainab Shamsuna Ahmed will unveil the comprehensive picture of the government’s revenue projections for this year to the public on Tuesday. The Nigerian Parliament had on December 21 approved the […]
Both chambers of the National Assembly on Monday passed the 2021 budget totalling N13,588,027,886,175 which is N505,607,317,924 above the initial sum of N13,082,420,568,233 presented by President Muhammadu Buhari for consideration. Highlight of the bill passed showed that N496,528,471,273 appropriated for Statutory transfer, N5, 641,970,060,680 for Recurrent Expenditure, N4, 125,149,354,222 for Capital Expenditure and N3,324,380,000,000 for […]
By Tunde Opalana As the 2021 budget defence session by ministries, departments and agencies (MDAs) winds up, the President of the Senate, Ahmad Lawan on Friday assured Nigerians that the parliament is leaving no stone unturned towards the passage of the 2021 Appropriation Bill by the second week of December, 2020. Lawan gave the assurance […]
By Philip Clement Despite the country’s Gross Domestic Product (GDP) contraction by -6.10 per cent in the second quarter of 2020, the Federal Government says it will continue funding the 2020 budget to ensure that the economy recovers as projected. The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, disclosed that in spite […]
Tunde Opalana, Abuja Expeditious consideration of the N10.509 trillion Federal Government 2020 revised budget by the Senate on Tuesday was stalled by the ommission of a sum of N186 billion out of the N500 billion appropriated for the Covid -19 intervention fund. Due to the ommission by the Budget Office, the Senate Tuesday was forced to […]
Abuja – The Senate on Tuesday increased the 25 dollars per barrel oil price benchmark proposed by the executive in the revised Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) forwarded to it for approval. The upper chamber made the increase on the oil price benchmark to 28 Dollars. The resolution was sequel […]
Ikeja -The Lagos House of Assembly has passed a resolution to reduce the size of the state’s 2020 budget from N1.68 trillion to N920.5 billion due to the economic challenges posed by COVID-19 pandemic. The resolution was made following a voice votes conducted by the Speaker of the House, Mr Mudashiru Obasa, during plenary in […]
The Federal Executive Council has approved the revised Medium Term Expenditure Framework and the 2020 budget. The revised estimates are based on $25 per barrel of crude oil at a production rate of 1.94 million barrels per day. Earlier, Minister of Finance, Zainab Ahmed had hinted that the government would make the revision based on declining international […]
Lagos – Some economists have expressed divergent views on plans by the Federal Government to further rework the 2020 Budget to reflect an oil benchmark of $20 per barrel. In interviews an in Lagos, some of them said that periodic review of the situation was very critical while others cautioned against it. Minister of Finance, […]