The Federal Government has pledged its commitment to improving revenue generation and enhancing economic competitiveness in the country. The Minister of Finance, Zainab Ahmed, made the pledge on a virtual platform on Monday during the Executive Roundtable on the Finance Act 2020 and Economic Outlook for 2021 organised by PricewaterhouseCoopers. … [Read more…]
Eastern Union Congress (EUC), a think-tank for the peoples of the old Eastern Region, now South East and South South, has condemned the handling of a recent mayhem in Orlu by Imo State Government and security agencies. EUC regretted the death toll and burning of property in Orlu attributed to members of security agencies … [Read more…]
Amnesty International (AI) on Thursday accused the Federal Government of cover-up in the shooting of #EndSARS protesters at the Lekki Tollgate and Alausa, Ikeja, in Lagos on October 20, 2020. The global human right watchdog stated this on the 100 days of the incident. But the Federal Government accused AI of disinformation … [Read more…]
The Federal Government has recorded a N4.45 trillion deficit spending in ten months. The deficit which climbed by 17 per cent, year-on-year (y/y), against N3.8 trillion recorded in the corresponding period of 2019. The sharp increase in deficit was driven by the decline in revenue which worsened in October, falling by 6.5 per … [Read more…]
The Federal Government is to partly fund six rail projects connecting virtually all regions of the country with a counterpart funding of N71.15bn this year. Also, N15.1bn will be spent on the development of safety and security critical projects, airport certification, runway construction, terminal building, among others in the aviation sector in 2021. A report … [Read more…]
Part of the report read, “Sustained use of direct monetary financing could raise risks to macroeconomic stability – given the current weak institutional safeguards – but we expect the FGN to reduce its use of the facility in 2021. “The FGN directly borrowed 1.9 per cent of GDP from the CBN to fund its … [Read more…]
The Federal Government on Wednesday announced the disbursement of another N123.348 billion under its States Fiscal Transparency Accountability and Sustainability (SFTAS) programme. The money is a performance-based grant to the states. The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, who disclosed this in a statement by Mr. Hassan Dodo, the Ministry’s Director … [Read more…]