At the federal executive council (FEC) held on Wednesday, the federal government approved the $500 million Eurobond from the international capital market to fund the 2016 budget.Last week, the senate approved the request of Buhari to raise additional $500 million Eurobond to fund the 2016 budget. Kemi Adeosun, minister of finance, said FEC had also […]
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The Acting President, Professor Yemi Osinbajo, has written to the Speaker of the House of Representatives, seeking approval for the issuance of 500 million dollars Eurobond to fund the 2016 budget. According to the letter which was read by the Speaker during plenary, the executive plans to issue the Eurobond in the international capital market […]
Continue ReadingThe Federal government has so far spent N3.577 trillion out of the full year budget of N6,060 trillion for the 2016 fiscal year. This translates to a 79% performance of the prorated budget for the three quarters up to September 30, 2016. In addition to the total of N2,439.9trn so far released for Capital, Non-debt Recurrent and Service-wide […]
Continue ReadingThe secretary to the government of the federation, Babachir Lawal, on Wednesday appeared before the joint senate committees on ethics, appropriation and finance, to explain that the federal government is finding it difficult to fund the 2016 budget. He explained that there is a fall in oil production of up to 800,000bpd – compared to the […]
Continue ReadingThe Muhammadu Buhari administration has rolled out various social investment programmes, aimed at cushioning the hardship in the country.Not less than eight million Nigerians will benefit from the programmes scheduled to begin in a matter of weeks. Highlights of the palliatives are: 5.5 million school children to be fed for 200 school days in first […]
Continue ReadingThe 2016 Appropriation Act signed by President Muhammadu Buhari on Friday will run until May 2017, this is as revealed on Sunday, by Senior Special Assistant to President Muhammadu Buhari on National Assembly (Senate), Ita Enang.Speaking in Akwa Ibom, he said “The Act provides that the budget takes effects from the date assented to by […]
Continue ReadingRead President Muhammadu Buhari’s full speech during the signing of the 2016 budget.It gives me great pleasure today to sign the first full-year budget of this administration into law. I thank the leadership of the National Assembly, in particular, the Senate President and the Speaker of the House of Representatives, and indeed all members of […]
Continue ReadingNIGERIA- Weeks after horse-trading between the presidency and the national assembly, President Muhammadu Buhari has signed the 2016 budget into law. The president has just signed the budget at the Presidential Villa. Details soon…
Continue ReadingPresident Buhari has returned the 2016 budget to the National Assembly, noting areas of concern in the document and demanding adjustment. Abdurazaq Namdas (APC-Adamawa State), who spoke on behalf of the House of Representatives confirmed this on Thursday. “I can confirm to you that we are in possession of the letter from the president identifying […]
Continue ReadingThe leadership of the house of representatives committee on appropriation, has posited that the presidency is not telling Nigerians the true story about 2016 budget. There was an alleged reallocation of funds for Lagos-Calabar rail project to Lagos-Kano rail project. Mr. Abdulmumin Jibrin, chairman of the committee, in a series of messages on his Twitter […]
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