Tuesday, November 13, 2018

Tag "2018 budget"

    Udoma: FG has released N460bn out of N9.12trn 2018 budget

Udoma: FG has released N460bn out of N9.12trn 2018 budget

Udoma Udo Udoma, minister of budget and national planning, says the federal government has released N460 billion as part of the funds for the implementation of the 2018 budget.Addressing journalists on Wednesday on the sidelines of the ongoing annual meetings of the World Bank Group and International Monetary Fund in Bali, Indonesia."N460 billion has been released for the 2018 budget," [...]

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    Ita Enang to lawmakers: Consider the requests before you… Nigerians are crying

Ita Enang to lawmakers: Consider the requests before you… Nigerians are crying

Ita Enang, senior special assistant to the president on national assembly matters (senate), has asked the national assembly to consider the budget of the Independent National Electoral Commission (INEC) as soon as it resumes.In an interview with journalist in Abuja on Monday, Enang said Nigerians were crying because the approval for borrowing and other requests before the lawmakers have not been [...]

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    Enang: Greater part of 2018 budget will be funded through loans

Enang: Greater part of 2018 budget will be funded through loans

Ita Enang, senior special assistant to the president on national assembly matters (senate), says the federal government is working on ways to raise funds for the 2018 budget.Speaking with NAN on Thursday, Enang said all ministries, departments and agencies (MDAs) have been directed by President Muhammadu Buhari to activate the country’s economy following the signing of the 2018 budget into [...]

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    Falana: I challenge n’assembly to point out a law giving it power to rewrite budget

Falana: I challenge n’assembly to point out a law giving it power to rewrite budget

Femi Falana, human rights lawyer,  says the national assembly has no constitutional right to rewrite and pass the budget.On June 20, President Muhammadu Buhari signed the 2018 appropriation bill into law.Buhari had said the national assembly increased its budget from N125 billion to N139.5 billionHe also said the lawmakers added 6,403 projects of their own to the 2018 budget proposal [...]

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    Presidency fires back: N’assembly got N270bn but still distorted the budget

Presidency fires back: N’assembly got N270bn but still distorted the budget

The presidency has taken another swipe at the national assembly over the 2018 budget, accusing the lawmakers of not being contended with the N170 billion funds for constituency projects.Reacting to the national assembly’s claims that alterations in the budget were justifiable, the presidency said it is surprised the lawmakers were cutting allocations of national projects, despite having “enough”.While signing the [...]

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    ‘Even executive benefitted from budget alteration’ — five highlights of lawmakers’ response to Buhari

‘Even executive benefitted from budget alteration’ — five highlights of lawmakers’ response to Buhari

On Friday, the national assembly denied allegations that it altered the 2018 budget for selfish reasons, saying any change made in the document was for the sake of “equity”.While signing the N9.1 trillion budget on Wednesday, President Muhammadu Buhari accused the lawmakers of reducing allocations for important projects and injecting 6,043 projects.However, in a statement issued by the two chambers [...]

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    ‘You could have returned the budget to n’assembly’ — Melaye taunts Buhari

‘You could have returned the budget to n’assembly’ — Melaye taunts Buhari

Dino Melaye, senator representing Kogi-west, says President Muhammadu Buhari had the option of returning the 2018 budget to the national assembly if he was displeased with it.On Wednesday, Buhari signed the bill into law.  He however, expressed reservations about some alterations made by the lawmakers.The president said the national assembly introduced 6,043 projects and jerked up its budget by 14.5 [...]

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    Budget alteration: SERAP asks Buhari to sue n’assembly for ‘crimes against humanity’

Budget alteration: SERAP asks Buhari to sue n’assembly for ‘crimes against humanity’

The Socio-Economic Rights and Accountability Project (SERAP) has accused the national assembly of committing “crimes against humanity” by altering various allocations in the 2018 budget.While signing the budget on Wednesday, Buhari revealed that the lawmakers added 6,403 projects of their own to the 2018 budget proposal he sent to them.“The national assembly made cuts amounting to N347 billion in the allocations to [...]

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    SHAME! N’assembly cuts Unity Schools’ budget by N3bn — despite high insecurity

SHAME! N’assembly cuts Unity Schools’ budget by N3bn — despite high insecurity

The national assembly slashed the allocation for security infrastructure in the 104 Unity Schools across the country by N3 billion -- despite the security challenge plaguing these schools.Schools, particularly in the northern part of the country, have been attacked by Boko Haram insurgents, with students killed and kidnapped.On February 25, 2014, suspected Boko Haram insurgents invaded Federal Government College, Buni [...]

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    Buhari: National assembly added N14.5bn to their own budget

Buhari: National assembly added N14.5bn to their own budget

President Muhammadu Buhari says members of the national assembly increased their own budget by N14.5 billion from N125 billion to N139.5 billionIn his budget signing speech on Wednesday, he said the lawmakers also added 6,403 projects of their own to the 2018 budget proposal sent to them.He said the projects added by the national assembly have not been properly designed and will be [...]

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    Buhari signs 2018 budget into law

Buhari signs 2018 budget into law

President Muhammadu Buhari has signed the 2018 appropriation bill into law.The presidency had submitted a proposal worth N8.612 trillion to the national assembly.Six months later, the national assembly increased the budget size to N9.12 trillion.In his budget signing speech made available on his Medium page, the president said he had hoped that the legislative process on the budget would be [...]

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    Buhari will sign Budget 2018 next week, says Femi Adesina

Buhari will sign Budget 2018 next week, says Femi Adesina

President Muhammadu Buhari will sign the 2018 budget into law next week, Femi Adesina, his spokesman, has said.Adesina disclosed this to state house correspondents on Wednesday after the federal executive council (FEC) meeting in Abuja.He, however, did not specify the date.“The budget will be signed next week,” he told journalists, adding: “We will give you the specific date when it [...]

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    SPN kicks against FG’s N2.2bn budget for monitoring social media

SPN kicks against FG’s N2.2bn budget for monitoring social media

Socialist Party of Nigeria (SPN) has opposed the allocation of N2.2 billion for deploying security protocol to "curtail the spread of false information on social media".The social media mining suite project which falls under the budget of the Directorate of State Security Service.In a statement signed by Chinedu Bosah, national secretary of SPN, the party said the project would contravene a [...]

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    Buhari, Osinbajo’s feeding budget slashed by N18m

Buhari, Osinbajo’s feeding budget slashed by N18m

Aso Rock, Nigeria's seat of power, has slashed the amount budgeted as expenses for feeding for the offices of President Muhammadu Buhari and Vice-President Yemi Osinbajo in the 2018 budget.In the line item identified as "foodstuff and catering material supplies," the president and vice-president got N149 million, which is N18 million lesser than the N167 million budgeted for the same purpose [...]

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    EXTRA: Aso Rock to spend N67m on rent, N7.3m on ‘anti-corruption’

EXTRA: Aso Rock to spend N67m on rent, N7.3m on ‘anti-corruption’

Aso Rock, Nigeria’s seat of power, will spend the sum of N67 million on ‘residential rent’, as provided for in the 2018 budget.This is not the first time the presidency is being charged for rent by the federal government – the tradition precedes the Muhammadu Buhari administration.In 2017, the sum of N78 million was budgeted as its rent while N27 [...]

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    Lawmakers’ allocation increased, INEC’s slashed — highlights of Budget 2018

Lawmakers’ allocation increased, INEC’s slashed — highlights of Budget 2018

The national assembly finally passed the 2018 budget on Wednesday, about six months after President Muhammadu presented it.In November, Buhari had proposed N8.6 trillion as the appropriation for the 2018 fiscal year, with N3.5 trillion as recurrent (non-debt) expenditure, while N2.4 trillion was earmarked for capital expenditure.But the lawmakers raised the budget by N500 billion, increasing recurrent and capital expenditure [...]

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Exchange Rates

November 13, 2018USDGBPEUR
INTERBANK306397354
LAGOS359475418
KANO359476420
PH360476420
ABUJA359478419
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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