Business

Kwara votes N200m for rural road projects

Ihesiulo Grace 11 December 2017 0

…Roads to get priority Kwara State Governor Abdulfatah Ahmed has said that he has earmarked N200 million as counterpart fund in the 2018 budget for the construction of over 300 kilometres of rural roads across the state. Ahmed said this in Esie, Irepodun Local Government Area of the

News

Lagos state budget hits N1.04trn

Ihesiulo Grace 11 December 2017 0

Akinwunmi Ambode, Lagos State governor on Monday presented the 2018 budget of N1.046 trillion to the state House of Assembly. The budget tagged “Budget of Progress and Development” is 28.67 percent higher than that of 2017 which was N812 billion. The 2018 budget has a capital expenditure of N699 billion and a recurrent expenditure of […]

Headlines News

Senate ‘ll scrutinize every aspect of 2018 Budget – Sen Shehu Sani

Ihesiulo Grace 8 December 2017 0

**Says 2016/2017 performance didn’t meet expectations The Senate has said that it is not in a hurry to pass the 2018 Budget, but will be painstaking in carefully scrutinizing every aspect of the budget proposal to ensure that the right thing is done. The Senate Committee Chairman on Local and Foreign Loans, Senator Shehu Sani, […]

Headlines News

NASS okays MTEF/FSP as Senate promises to pass budget Dec 19

Ihesiulo Grace 6 December 2017 0

The National Assembly on Tuesday unanimously adopted the 2018-2020 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) projections of the President Muhammadu Buhari administration, just as it referred the N8.6 trillion 2018 budget proposal to the Senate and House of Representatives Appropriation Committees for further legislative action. The Senate had

News Nigeria

Gov Ayade presents N1.3tr 2018 appropriation bill to C’River Assembly

Ihesiulo Grace 1 December 2017 0

Governor Ben Ayade of Cross River has presented One trillion, three hundred and fifty billion, two hundred and twenty million, one hundred and fifty six thousand, two hundred and twenty five naira, thirty kobo (N1, 350, 220, 156, 225. 30) to the Cross River State House of Assembly as the state’s budget for 2018. Ayade, […]

News

Ganduje proposes over N233b for 2018

Ihesiulo Grace 1 December 2017 0

Governor Abdullahi Umar Ganduje has presented a sum of N233, 828,850,598 for the 2018 fiscal years. Presenting the proposed budget before the state House of Assembly yesterday governor Ganduje said the sum of N151, 902,238, 95 is earmarked for capital expenditure while N81, 926,412,503 is allocated for recurrent expenditure. Tagged budget of reality, Ganduje posited […]

Headlines News

NASS begins debate on 2018 Budget

Ihesiulo Grace 29 November 2017 0

…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

Business

ECOWAS Parliament adopts 2018 community budget

Ihesiulo Grace 28 November 2017 0

The ECOWAS Parliament has adopted the proposed 2018 community budget of 284.9 million West African Units of Account (UA) (approximately 122 billion naira). The Central Bank of Nigeria (CBN) puts a West African UA at 430.1 naira. The budget was adopted following the presentation of the Report of the Ad hoc Committee for the Consideration […]

Business Politics

Akwa Ibom State budgets 651.5bn for 2018 fiscal year

Ihesiulo Grace 24 November 2017 0

The government of Akwa Ibom state has proposed a total sum of 651.500 billion naira as the estimate for government during 2018 fiscal year of the state, as against 485.79al year. Governor Udom Emmanuel announced this on Friday when he presented the 2018 budgetary estimate, tagged: “budget of consolidation and industrialization” to the state house […]

Business

2017 budget: ECOWAS spent $197m on money laundering, parliament, others

Ihesiulo Grace 23 November 2017 0

The Economic Community of West African States (ECOWAS) has spent $197 million out of its $230.2 million expenditure for 2017. Its total income for the year budget stood at $267.9m. Of the expenditure, the Commission spent $146m, its parliament spent $19.86m; the Community Court of Justice $17.2m; West African Health Organisation, $33.1m; and the Intergovernmental […]

Business

Gov Amosun proposes N345.42bn for 2018 fiscal year

Ihesiulo Grace 22 November 2017 0

. Budget 57% higher than 2017 The Ogun State Governor, Senator Ibikunle Amosun has presented the 2018 State Budget proposal of N345.42 billion to the State House of Assembly, Abeokuta, Ogun State capital, on Tuesday, with the assurance that the budget would be implemented in furtherance of the rebuilding mission of his administration. The budget, […]

Business

Crisis Looms As Senate Dismisses Buhari’s 2018 Budget

Ihesiulo Grace 22 November 2017 0

*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 […]

Business Headlines

NASS begins debate on 2018 budget next week

Ihesiulo Grace 22 November 2017 0

… 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 […]

Features

How young innovators can excel – Awosika

Ihesiulo Grace 21 November 2017 0

The harbour point at Victoria Island Lagos, was awash with wisdom and revelation on Saturday, November 18, 2017, as serial entrepreneur with over three decades of experience, Mrs. Ibukun Awosika took out time to address the ‘Ignite Youth Innovation’ audience. Adesola Afolabi reports: Mrs. Awosika, who spoke at the event sponsored by First Bank in commemoration of […]

Opinion

Turning Nigeria into a developed nation should be the priority

Ihesiulo Grace 21 November 2017 0

I am not impressed with the 2018 budget presented to the National Assembly by President Muhammadu Buhari even though it’s the largest in our history at ₦8.6T/$23.9B. The 2018 budget lacks the capacity to grow our economy significantly. ₦5.5T/$15.3B, roughly 64% of our budget is going to salaries and debt servicing, this is insane. Only […]

Headlines News

Senate begins debate on N8.612trn 2018 Budget next week

Ihesiulo Grace 17 November 2017 0

The Senate on Thursday indicated resolve to commence debate on the general principles of the N8.612trillion 2018 Budget beginning from mid next week, a move aimed towards early passage of the budget. The Senate President, Bukola Saraki made this known during the plenary, telling his colleagues to get prepared as “Debate on the general principles […]

Abuja Times

FCT to prioritise Education system as NNPC annual quiz contest climax

Ihesiulo Grace 15 November 2017 0

The FCT Administration has vowed to prioritise education in its 2018 budget to ensure the proper education of residents and also to encourage adult education for mass literacy in years to come. The Secretary of Education to FCT, Senator Isa mania, stated this during the occasion that marked the grand finale of the NNPC 2017 […]

Analysis Economy Headlines Nigeria

Budget 2018 is not budget of consolidation, it is ‘budget that may not happen’

Ihesiulo Grace 14 November 2017 0

President Muhammadu Buhari presented the 8.612 Trillion Naira 2018 Appropriation Bill to the National Assembly a week ago. A breakdown of the budget as presented reveals the following: a. Recurrent Costs = N3.494 trillion; b. Debt Service = N2.014 trillion; c. Statutory Transfers = N456 billion; d. Sinking Fund = N220 billion (to retire maturing […]

News

FG urged to use 2018 budget to end polio in IDPs camps

Ihesiulo Grace 10 November 2017 0

A Non-governmental Organisation, Rotary Club International, has urged the President Muhammadu Buhari-led Federal Government to use the 2018 budget to end polio ravaging Internally Displaced Persons (IDP) across the country. The call was made Thursday by the District Governor of the club, Nnoka Mbanefo, in Jos, while commissioning two Bus Terminal Shelters, constructed by

Business

#2018Budget: FG’s N6.6trn revenue projection, ‘very optimistic’ says BudgIT

Ihesiulo Grace 8 November 2017 0

Nigeria’s revenue projection of N6.6tn in the presented 2018 budget has been termed as ‘very optimistic’ by BudgIT, a Lagos based analytical firm committed to simplifying the budget and matters of public spending for citizens, with the primary aim of raising the standard of transparency and accountability in government. Giving reasons for this observation, the […]