The Federal Executive Council yesterday approved N15,569,016,812 for various contracts in the Ministries of Works and Housing; Education as well as Industry, Trade and Investment. The Minister of Works and Housing, Babatunde Fasola, said: “The two states that had outstanding with respect to eligible roads were Plateau and Borno States and Council approved the refund … [Read more…]
…. FEC okays 2023 budget proposal The Federal Executive Council (FEC), presided over by Vice President Yemi Osinbajo, yesterday, approved the proposal for the Nigerian National Petroleum Corporation Limited (NNPCL) to invest N1.9 trillion in the reconstruction of 44 federal roads under the tax credit policy. Of this amount, N215.3 billion would be spent on … [Read more…]
…to include 2023 Census Presenting the report, the chairman of the Senate Committee on Appropriations, Barau Jibrin, said the budget was increased to make provision for improved funding for the National Population Commission (NPC) ahead of the 2023 Census, the Independent National Electoral Commission (INEC) ahead of the 2023 general elections, the Nigerian Army, Navy, … [Read more…]
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has unveiled the federal government’s strategic initiative for a robust revenue generation that would meet the federal government’s N10. 74 trillion target, with which to fund the 2022 budget. She said at the federal government’s 2022 Budget Public Presentation, in Abuja, on … [Read more…]
President Muhammadu Buhari will sign the 2022 Appropriation Bill on Friday, his Senior Special Assistant on Media and Publicity, Garba Shehu, has said. He said the budget had been transmitted by the National Assembly and that the President would sign the bill into law by 10am on Friday. He responded to prodding … [Read more…]
The Federal Executive Council meeting has approved N65.39bn in foreign and local denominations to execute power projects in the country. The Minister of Power, Abubakar Aliyu, disclosed this to State House Correspondents on Thursday at the end of an extraordinary meeting of FEC presided over by Vice President Yemi Osinbajo at the Presidential … [Read more…]
FG hires JP Morgan, others on $6.2bn fresh borrowing The Federal Government of Nigeria has appointed transaction advisers to facilitate the issuance of Eurobonds in the international capital market. This was contained in a press statement titled ‘Towards financing the 2021 Appropriation Act – FGN appoints transaction advisers for a Eurobond issuance’, which was made … [Read more…]
Civil society organisations have condemned the N1.4bn budget for meals and refreshments by the Federal Inland Revenue Service in the 2021 fiscal year. The groups, including Transparency International and the Human Rights Writers Association of Nigeria, accused the tax collecting agency of insensitivity and misplacement of priority. Executive Director, CISLAC and Head, … [Read more…]