Tag "2019 budget"

    Ngige: National assembly’s distortion made FG reluctant to implement 2019 budget

Ngige: National assembly’s distortion made FG reluctant to implement 2019 budget

Chris Ngige, the minister of labour and employment, says the federal executive council is reluctant to implement the 2019 budget because they were afraid that the national assembly introduced foreign items to the budget.Speaking on Thursday when he reported for duty at the ministry with his minister of state, Tayo Alasoadura, Ngige said 60% of the 2019 budget will be [...]

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    REVEALED: Nigeria’s oil revenue hit N85trn in 5 years

REVEALED: Nigeria’s oil revenue hit N85trn in 5 years

Nigeria made about N85 trillion ($236.2 billion) from oil between 2014 and 2018, the 54th edition of Annual Statistical Bulletin by the Organisation of Petroleum Exporting Countries (OPEC), has revealed. [...]

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    Buhari: Adjustment of 2019 budget may affect implementation

Buhari: Adjustment of 2019 budget may affect implementation

President Muhammadu Buhari says the N90 billion which the national assembly added to the 2019 budget may affect its smooth implementation.The president said this on Monday while signing the N8.92trn appropriation bill into law.The federal lawmakers had approved N100 billion as security intervention fund for Zamfara state.Buhari, however, expressed concern over the adjustment in the budget, saying it would make [...]

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    Senate postpones passage of 2019 budget till Tuesday

Senate postpones passage of 2019 budget till Tuesday

The senate has postponed the passage of the 2019 budget till Tuesday.Senate President Bukola Saraki announced the postponement at plenary on Wednesday, directing Nelson Ayewoh, clerk of the upper legislative chamber, to make copies of the budget report available to the lawmakers by Monday.Saraki's directive came on the heels of the absence of Danjuma Goje, chairman of the senate committee [...]

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    Senate committee finally lays budget report

Senate committee finally lays budget report

The senate committee on appropriations has laid the 2019 budget report.The report was laid on Wednesday after Danjuma Goje, chairman of the senate appropriation committee, moved a motion.The report ought to have been laid on Thursday but it was delayed because other standing committees had not submitted their report to the appropriation committee.Senate President Bukola Saraki had given a deadline [...]

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    Senate committee fails to lay Budget 2019 — despite Saraki’s warning

Senate committee fails to lay Budget 2019 — despite Saraki’s warning

The senate appropriations committee failed to lay the 2019 budget on Thursday despite the deadline set by Senate President Bukola Saraki.Saraki had given the target after which he announced that that the budget would be passed on April 16.He had asked the appropriations committee to ensure that the report was laid on Thursday and also directed other other committees to turn [...]

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    Senate reduces budget deficit, slashes FG’s borrowing by N200bn

Senate reduces budget deficit, slashes FG’s borrowing by N200bn

The senate has slashed federal government's borrowing in the 2019 budget by N220 billion.The executive had proposed N1.86 trillion as budget deficit but it was reduced to N1.64 trillion.The decision to cut the borrowing in the budget was part of recommendations in a report on the 2019 medium term expenditure framework (MTEF) and fiscal strategy paper (FSP).President Muhammadu Buhari had [...]

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    ‘Defend your budget or get zero allocation’ — reps panel threatens trade minister

‘Defend your budget or get zero allocation’ — reps panel threatens trade minister

The house of representatives committee on commerce has stepped down the budget consideration of the ministry of trade and investment for the second time.The decision was taken as a result of the ministry’s failure to appear before the committee to defend its 2019 budget.It also threatened to approve ministry allocation for the ministry in the budget, if it fails to [...]

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    Lai Mohammed: Nigeria denied loans over farmer/herder clashes

Lai Mohammed: Nigeria denied loans over farmer/herder clashes

Lai Mohammed, the minister of information and culture, says the federal government was denied loans by some foreign organisations because of the clashes between farmers and herdsmen in some parts of the country.The minister told the house of representatives committee information, national orientation, ethics and value on Thursday that the federal government had to lobby some international media organisations over [...]

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    Reps adjourn for two weeks to allow MDAs defend their budgets

Reps adjourn for two weeks to allow MDAs defend their budgets

The house of representatives has adjourned plenary till April 2 over the 2019 appropriation bill.The lawmakers adjourned after Tuesday's plenary to give room for government ministries, governments and agencies (MDAs) to defend their respective budgets.During the two-week period, the various house committees are expected to hold budget defence sessions with the MDAs at the National Assembly Complex.The lower legislative chamber [...]

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    Senate passes Budget 2019 for second reading

Senate passes Budget 2019 for second reading

The senate has passed the 2019 appropriation bill of N8.82 trillion for second reading.The bill scaled second reading at the upper legislative chamber on Tuesday -- three months after President Muhammadu Buhari presented it.The budget has a recurrent expenditure of N4 trillion while N2 trillion goes for capital expenditure with N2.2 trillion and N492 billion for debt servicing and statutory [...]

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    House of reps to invite ministers over ‘many errors’ in 2019 budget

House of reps to invite ministers over ‘many errors’ in 2019 budget

The house of representatives has again suspended debate on the provisions of the 2019 appropriation bill over what is described as "irreconcilable differences" in the document.The lawmakers said they restricted themselves to the general principles of the budget proposal when it was brought up for debate on Wednesday.When the debate commenced, Chika Adamu from Niger state called the attention of [...]

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    Saraki: I insist 2019 budget is hopeless

Saraki: I insist 2019 budget is hopeless

Senate President Bukola Saraki has insisted that the 2019 budget proposal of N8.83 trillion presented to a joint session of the national assembly by President Muhammadu Buhari is "hopeless."In an interview with THISDAY, Saraki said the proposal is not only hopeless but deceptive.The senate president first made the comment when he hosted some civil society organisations (CSOs) in Abuja on [...]

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    ‘You are ignorant of issues in petroleum sector’ — Femi Adesina blasts Atiku

‘You are ignorant of issues in petroleum sector’ — Femi Adesina blasts Atiku

Femi Adesina, spokesman of President Muhammadu Buhari, says Atiku Abubakar, Peoples Democratic Party (PDP) presidential candidate is ignorant of issues in the petroleum sector.Adesina said this in an article where he criticised the PDP presidential candidate for attacking provisions of the 2019 budget.He referred to a number of issues Atiku commented on including crude oil prices and foreign [...]

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    Great news for 2019 budget as first Egina cargo hits oil market

Great news for 2019 budget as first Egina cargo hits oil market

The 2019 budget has just received a boost as the very first cargo of crude oil from Total's new Egina oil field hit the international oil market for futures trading.According to Reuters, the new Nigerian oil "grade has been added to the February loading programme".Following forward trading in the oil market, the first cargoes from Total’s newly producing Egina offshore field, [...]

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    Atiku: 2019 budget built on shaky foundation, littered with inaccurate claims

Atiku: 2019 budget built on shaky foundation, littered with inaccurate claims

Atiku Abubakar, presidential candidate of the Peoples Democratic Party (PDP), says the 2019 budget presented to the national assembly by President Muhammadu Buhari is "fundamentally flawed".Atiku said the N8.83 trillion budget fails to address current realities, noting that it is built on a "very shaky foundation".In an article written about the budget, the presidential candidate alleged that "several inaccurate claims [...]

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Exchange Rates

November 06, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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