FG, states record N352b shortfall in revenue target as fiscal crisis persists
The Federal Government and the state of the federation missed their respective revenue targets gain for the month of October, widening the 2019 budget deficits.
Anambra State defends N20b budget scale-down
Anambra State has said that it scaled down the 2020 estimate by N20 billion from the 2019 budget to meet realistic assumptions. The state budgeted N157.1 billion for the 2019 fiscal year and is proposing N137.1 billion for 2020
When is a good capital vote in budgeting?
The 2020 budget proposals of the Federal Government appear to be currently beset with many challenges akin to what currently plagues the current 2019 budget. In preparation for the presentation of the 2020 budget to the National Assembly, the recent release of the 2020-2022 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) by the…
DMO raises N147b to fund 2019 budget
The Debt Management Office (DMO) yesterday raised N146.60 billion to fund the 2019 federal budget. Its Director-General, Patience Oniha, said the money was raked from the monthly auction of FGN Bonds it conducted for three Instruments with tenors of five-year
Acting CJ seeks more judges, says 116,623 cases of 2018 pending
Acting Chief Justice of the Federal High Court, Justice John Tsoho, has demanded the appointment of more judges to ease the excessive workload on judicial officers. Speaking yesterday at the commencement of the Federal High Court 2019/2020 Legal Year...
Makinde signs revised 2019 budget into law
Oyo State Governor Seyi Makinde has signed the N182b reviewed 2019 budget passed by the state House of Assembly on Tuesday into law. The bill, which seeks to review the N182b appropriation bill 2019 from the state’s consolidated revenue in the year ending was re-evaluated from N285b proposed by former Governor Abiola Ajimobi-led government.
2019 budget and oil price volatility
A recent report of the slump in the price of crude oil to about US $60 from almost US $70 per barrel has really become worrisome for Nigeria’s implementation of the 2019 budget....
Nigeria’s yearly stolen fund worth 62% of 2019 budget
Money stolen from Nigeria yearly through organised Illicit Financial Flows (IFFs) may provide almost 62 per cent of the funds needed to finance the 2019 budget.
2019 budget has N103 billion funding gap, says Udoma
Immediate past Minister of Budget and National Planning, Udoma Udo Udoma, yesterday said the nation’s 2019 budget had a funding gap of N102.83 billion. He, however, linked the development to the increase made by the National Assembly. During the public presentation of the budget signed into law on Monday by President Muhammadu Buhari, Udoma insisted…
Buhari signs 2019 budget
Nigeria's President Muhammadu Buhari Monday signed the 2019 appropriation bill into law, weeks after it was approved by the National Assembly. The N8.92 trillion budget approved by the lawmakers is more than N8.826 trillion estimate the president presented to them on December 19. Highlights of the 2019 budget as approved by the National Assembly include…
Lagos Assembly receives report on 2019 budget, steps down debate
The Lagos State House of Assembly has stepped down debate and passage of the state’s 2019 Appropriation Bill after receiving report of its Committee on Economic Planning and Budget. The News Agency of Nigeria (NAN) reports that the House Committee on Economic Planning and Budget, on Friday, presented its report after about 80 days that…
Goje to declare for Senate presidency after approval of 2019 budget
Contest for the Senate presidency became tougher yesterday as former Gombe State Governor, Danjuma Goje, has indicated that he will officially declare his interest in the race after approval of the 2019 Budget. This emerged as the Northeast youths wing of the All Progressives Congress (APC) advocated concerted effort by members of the party to…