Naira depreciation and 2022 budget

October 25, 2021 Adefolarin A. Olamilekan 0

Regrettably, naira depreciation does not hold any assurance of better things economically for Nigerians. There is obviously misguided and unrealistic call that the naira be devalued in expectation that matching “official rates with parallel market exchange rates will attract foreign investors or ensure competitiveness of the Nigerian economy”. Conversely, foreign investors are ‘smart guys’ investing chiefly in economically and minimally Read More

2022 budget: Analysts reply finance minister on exploitation of electricity consumers

October 18, 2021 Paul Okah 0

The Association for Public Policy Analysis (APPA) has tackled the Minister of Finance, Budget and National Planning, Zainab Shamsuna Ahmed, and Director General, Budget Office of the Federation, Ben Akabueze, over the exploitation of electricity consumers, demanding urgent intervention. In an interview with our reporter in Abuja, the National President of APPA, Comrade Princewill Okorie, said that electricity consumers are Read More

Budget Office secretly withdrew N151.3bn from federation account, report alleges

October 15, 2021 Taiye Odewale 0

The Office of Auditor General of the Federation (AGF) in its 2016 Audit Report accused the Budget Office of withdrawing N151.3 billion secretly from the federation account in 2015. According to the report, “The Budget Office of the Federation expended the sum of N151,371,407,619.10 above its approved budget for the year 2015. “This was extra-budgetary spending incurred without recourse to Read More

2022 Budget will be ready before Dec 16 – NASS

October 15, 2021 Odewale, and Joshua Egbodo 0

Deputy President of the Senate, Ovie Omo-Agege has assured that the National Assembly is determined to pass the 2022 budget before the year runs out. The House of Representatives has also disclosed that it will be targeting December 16, 2021 to do final passage of the 2022 appropriation bill currently being processed. Senator Omo-Agege made the disclosure while hosting his Read More

2022 budget: Coalition lauds Buhari over proposed tax on soft drinks

October 14, 2021 Tope Sunday 0

The National Action on Sugar Reduction (NASR), a coalition of public health organizations has commended President Muhammadu Buhari for the proposed “pro-health” tax increase on soft drinks in the 2022 budget. A statement Wednesday in Abuja, jointly signed by the coalition co-chair, and secretary-general of the Diabetes Association, Bernard Enyia and co-chair and managing director of Nigeria Health Watch, Vivianne Read More

FEPPPAN hails finance minister over pensioners’ welfare

October 12, 2021 Blueprint 0

The Federal Parastatals and Private Sector Pensioners Association of Nigeria (FEPPPAN), has passed a vote of confidence on Minister of Finance, Budget and National Planning Hajia Zainab Shamsuna Ahmed for her determination towards pensioners’ welfare, describing it as commendable and exemplary. Speaking at the end of her National Administration Council (NAC) meeting held in Abuja, the senior citizens further applauded Read More

Yobe govt directs MDAs to complete ongoing projects before embarking on new ones

October 12, 2021 Yusuf A. Yusuf 0

Yobe state government has directed all the Ministries Departments and Agencies (MDA) in the state to conclude all ongoing projects before embarking on new ones. Yobe state governor Mai Mala Buni represented by Secretary to the state government Baba Mallam Wali, made the statement Tuesday while declaring open the 2022 budget bilateral discussion organised by the state ministry of budget Read More

FG to use IMF reserve boost to fund 2022 budget

October 10, 2021 Blessing Anaro 0

A reserve boost from the International Monetary Fund (IMF) will help Nigeria reduce next year’s spending shortfall, according to the country’s finance minister. Nigeria received an IMF allocation of $3.35 billion in reserve assets – known as special drawing rights (SDR), and plans to use the funds to reduce a budget deficit that’s set to exceed a legal limit, Finance Read More

Annual budgets for Nigerian elites not masses – Kazaure

October 8, 2021 Taiye Odewale 0

Hours after the presentation of N16.39trillion 2022 budget to the joint session of the National Assembly by President Muhammadu Buhari on Thursday, Hon Mohammed Gudaji Kazaure, declared that the budget and previous ones over the years , are more beneficial to the elites in implementation than the masses. In stopping the ugly trend , he called for proactive war against Read More

We’ll work exhaustively on 2022 budget estimates, Gbajabiamila assures

October 8, 2021 Joshua Egbodo 0

Speaker of the House of Representatives, Femi Gbajabiamila, has stated the resolve the National Assembly to ensure exhaustive scrutiny of the 2022 budget proposals presented by President Muhammadu Buhari Thursday. While assuring of the commitment of the National Assembly to give the budget accelerated consideration, Gbajabiamila said the next two to three months will be for the strictest scrutiny of Read More

2022 budget: How FG can reduce borrowing – Lawan

October 7, 2021 Taiye Odewale 0

 President of the Senate, Ahmad Lawan, has said that for the deficit in the country’s budget to be drastically reduced, concerted effort must be made by the Executive and Legislature to explore alternative sources of funding to reduce borrowing.   The Senate President explained that such sources of funding can come by way of Public-Private Partnerships on infrastructural projects, as well Read More

2022: Budget of high sounding figures, CUPP reacts

October 7, 2021 Lekan Shehinde 0

The Coalition of United Political Parties (CUPP) has taken a swipe at the 2022 budget presented by President Muhammadu Buhari at the National Assembly on Thursday. The President had on Thursday presented a budget of N16.39 trillion to the National Assembly. The CUPP, in a statement by its spokesman, Ikenga Imo Ugochinyere, said that the budget only highlighted by more Read More

Reps endorse Buhari’s revised 2020-2024 MTEF/FSP, okays N16.39trn 2022 budget

October 6, 2021 Joshua Egbodo 0

The House of representatives has approved an aggregate expenditure of N16.39 trillion for the 2020 fiscal year, with the endorsement of President Muhammadu Buhari’s revised 2020-2024 Medium Term Expenditure Framework and Fiscal Strategy Paper. Carrying out the endorsement at the committee of supply on Wednesday, the House also retained N10.3 trillion as federal government revenue target for the 2022 fiscal Read More

Minister calls for local solutions to tax challenges in West Africa

September 22, 2021 David Agba 0

The Minister of Finance, Budget and National Planning, Mrs. Zainab Shamsuna Ahmed Tuesday in Abuja charged participants at the ongoing 17th General Assembly and 10th Anniversary of the West African Tax Administrations Forum (WATAF) to put on their thinking caps and explore possibilities of developing local solutions that works, either within domestic tax rules or along the regional blocs to Read More

Mining: Senate summons Minister over loss of revenue

September 3, 2021 Taiye Odewale 0

The Senate, Friday, summoned the Minister of Mines and Steel Development, Olamilekan Adegbite, over poor regulation and loss of revenues in the sector. This is as the Upper legislative chamber through its joint committees on Finance, National Planning, Gas Resources, Petroleum Upstream and Downstream, fixed N15billion as target revenue for Nigeria Mining Cadastre Office (NMCO) in 2022 as against N4billion Read More

Buhari recovers N1tr stolen funds in six years – APC-LAC

September 2, 2021 Bode Olagoke 0

The President Muhammadu Buhari-led government has so far recovered about to One trillion Naira worth of stolen funds and assets since assuming office in 2015. The APC Legacy Awareness and Campaign (LAC), a voluntary think-tank group of the governing party, in a statement released Thursday in Abuja, said all final forfeitures are being deployed for use in the government’s special Read More

FG to launch N2.343trn Eurobond on Oct. 11, with Lagos, NY roadshows

September 1, 2021 Blessing Anaro 0

The Federal Government (FG) will launch its planned Eurobond issue on October 11, finance minister, Zainab Ahmed has said. Zainab Ahmed also said the country would hold roadshows for the dollar-denominated issuance in Lagos and New York. The Debt Management Office (DMO) has previously said the Eurobonds are aimed at raising funds for external borrowing of N2.343 trillion ($5.7 billion) Read More

SAPZ: FCT, Kaduna, C/River, others to benefit from AfDB

August 31, 2021 Abdullahi Muhammad 0

Minister of Finance, Budget and National Planning, Mrs. Zainab Shamsuna Ahmed, has disclosed that the Federal Capital Territory, Kaduna, and Kwara states have been selected to benefit from the first phase of the Special Agro-industrial Processing Zones to be established in Nigeria by the Africa Development Bank (AfDB), and other development partners. The minister, who spoke at a virtual meeting Read More

FX ban to BDCs’ll increase productive capacity of businesses – Minister

August 30, 2021 Benjamin Umuteme 0

The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed has said that stoppage of foreign exchange to Bureaux de Change (BDCs) will increase the productive capacity of businesses. Mrs Ahmed said when she hosted participants of the Executive Intelligence Management Course 14 of the National Institute for Security Studies, at the ministry’s headquarters weekend in Abuja. According to Read More

APC states to allocate, release 15% annual budget for healthcare delivery

August 29, 2021 Bode Olagoke 0

The states controlled by the ruling All Progressives Congress (APC) have all agreed to henceforth allocate and release 15 percent of their annual budget for the healthcare delivery in their states. The APC states also agreed to henceforth undertake establishment of sustainable health care financing system such as health insurance and health emergency trust fund in their states. In a Read More

FG raises N669bn from Sukuk bonds

August 20, 2021 Blueprint 0

The Minister of Finance, Budget and National Planning, Zainab Ahmed, said the Federal Government raised N669 billion from the Nigerian capital market through issuance of Sukuk Bonds. Ahmed said this at the Chartered Institute of Stockbrokers (CIS) 2021 national workshop on Thursday. The theme of the national workshop was: “Leveraging the Financial Markets to Achieve Double- Digit Economic Growth for Read More

Democratic development: PGF boss advocates improved relationship between govt, CSOs

August 16, 2021 Bode Olagoke 0

For Nigeria’s democracy to develop and the welfare of Nigerians improved, a call has been made for an improved relationship between the Nigerian government and the Civil Society Organisations (CSOs). In a statement released to newsmen Monday in Abuja, Director General of the Progressives Governors Forum (PGF) and a chieftain of the governing party, Salihu Moh. Lukman, said part of Read More

ActionAid Nigeria thumbs up Buhari on education budget increase

August 6, 2021 Blueprint 0

ActionAid Nigeria has commended President Muhammadu Buhari on his commitment to increase education spending by 50 per cent over the next two years and up to 100 per cent by 2025. This was contained in a statement by the country director, ActionAid Nigeria, Mrs. Ene Obi, in Lagos Friday. Obi said that the increase was in tandem with the objective Read More

Secession: Africa ‘ll lose respect if Nigeria breaks – Ganduje

August 5, 2021 Bode Olagoke 0

Kano state governor, Dr. Abdullahi Umar Ganduje, has warned that the continent of Africa will lose it respect to the world if the Nigeria cease to exist as a Nation. Ganduje, however, called on seccessionits agitators to stop immediately and give dialogue a chance. Speaking Thursday in Abuja at the second public lecture series organised by the APC Press Corps Read More

Over 900 road projects ongoing nationwide under Buhari – APC group

August 4, 2021 Bode Olagoke 0

Over 900 active road contracts, covering the construction, reconstruction and rehabilitation of more than 13,000km of federal roads and highways were currently ongoing nationwide under the present administration of President Muhammadu Buhari. A think-tank of the All Progressives Congress (APC) known as Legacy and Awareness Campaign (APC-LAC) has revealed further that stretch of roads coverage is out of a total Read More