Nigeria’s 9th Senate on Wednesday passed 2022 budget of N17.126 trillion, some billions higher than N16.391 trillion presented by President Muhammadu Buhari back in October. It also increased the benchmark price of crude from $57 to $62 per barrel, from which a proposed increase in revenue is expected. The sum of N3.8 trillion is for […]
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The 9th House of Representatives has passed the 2022 budget with an increase to the budget of the National Assembly. Kokomansion recalled that President Muhammadu Buhari had proposed N134 billion as statutory transfer to the National Assembly for 2022. However, the Committee on Appropriations recommended N139 billion to the National Assembly. The Chairman of the […]
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Governor Godwin Obaseki of Edo state on Tuesday presented a budget estimate of N153.4 billion to the State House of Assembly, for the 2021 fiscal year. The budget which comprises N94.8 billion for recurrent and N58.6 billion for capital expenditure, represents a 9.7 percent increase from the revised 2020 budget. Christened ‘Making Edo Great Again […]
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The Federal Government of Nigeria has proposed to spend N2.45trn on servicing of debt within the 2020 budget. President Muhammadu Buhari revealed this on Tuesday when he presented the 2020 budget proposal at the joint session of the National Assembly. Buhari noted that out of the N2.45trn local debts would take about N296bn. He stressed […]
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The Federal Government received two trillion naira as revenue from January to June 2019, Director-General of the Budget Office, Mr Ben Akabueze, has said. Akabueze disclosed this at the Public Consultative Forum on the 2020 to 2022 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) in Abuja on Tuesday. He explained that within the […]
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The minister of budget and national planning, Udo Udoma, says the federal government has spent only N6.938 trillion of the 2018 budget, leaving N2.18 trillion unspent. Giving his presentation on the 2019 budget in Abuja on Tuesday, Udoma said the 2018 budget performance stood at 79 percent. “Of the total appropriation of N9.12 trillion, N6.938 […]
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The Nigerian senate has again postponed the passage of the 2019 budget-this time- till Tuesday, April 30th. Senator Bukola Saraki, the senate president announced the postponement at plenary on Wednesday, directing Nelson Ayewoh, clerk of the upper legislative chamber, to make copies of the budget report available to the lawmakers by Monday. Saraki’s directive came […]
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The Federal Government of Nigeria on Wednesday announced the issuance of $2.86 billion aggregate triple bond series under its Global Medium Term Note Programme. A finance ministry statement on Wednesday night said the Notes comprise a $1.18 billion seven-year series, $1billion 12-year series and $750 million 30-year series. Details of the issue show the seven-year […]
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The Federal Executive Council (FEC) on Wednesday approved a budgetary proposal of N8.73 trillion for 2019 fiscal year, N400 billion lower than the 2018 budget. The Minister of Budget and National Planning, Sen. Udoma Udo Udoma, made this known when he briefed State House correspondents at the end of the Council’s meeting. The meeting was […]
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The Delta State Governor, Dr. Ifeanyi OKowa on Wednesday presented a budget estimate of N367,095,083.451, for the 2019 fiscal year, to the State House of Assembly for consideration and approval. Tagged “Budget of sustainable growth,” the estimate is made up of N157,096,029,253 (42.79 percent) for recurrent expenditure, and N209,999,054,198 (57.21 percent) for capital expenditures. OKowa […]
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