Tag "budget"

    Nigerian govt directionless, says PDP senator

Nigerian govt directionless, says PDP senator

Matthew Urhoghide, a Peoples Democratic Party (PDP) senator from Edo state, says the Nigerian government is directionless when it comes to planning. Urhoghide said this on Thursday while contributing to a debate on a motion sponsored by Stellah Oduah, senator representing Anambra north. Oduah's motion was on the need to "establish a visionary budget-driven national planning framework for Nigeria." While speaking, the Edo [...]

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    NEITI: Recurrent expenditure of 21 states higher than their FAAC allocations

NEITI: Recurrent expenditure of 21 states higher than their FAAC allocations

A new report published by the Nigeria Extractive Industries Transparency Initiative (NEITI) has shown that the recurrent expenditure of 21 states is higher than their disbursements from the federation accounts allocation committee (FAAC). According to a statement signed by Orji Ogbonnaya Orji (pictured), NEITI's director of communications and advocacy, a total of N8.15 trillion was shared among the three tiers of government in [...]

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    ‘We’re getting broke’ — house of reps seeks more allocation

‘We’re getting broke’ — house of reps seeks more allocation

The house of representatives says it is struggling with funds to carry out its responsibilities. Speaking with journalists in Abuja, Benjamin Kalu, spokesman of the lower legislative chamber, said the responsibilities of lawmakers are bigger than their budget. This is despite the national assembly’s budget of N128 bullion for 2020, which is higher than the N125 billion appropriated for the parliament in [...]

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    IN DETAIL: Nigeria budgeted N73.3bn for presidential air fleet in 10 years

IN DETAIL: Nigeria budgeted N73.3bn for presidential air fleet in 10 years

Seventy-three billion, three hundred million naira. That is how much Nigeria has budgeted for the presidential air fleet from 2011 to 2020. According to budget documents analysed by TheCable, the allocation for the ‘presidential air fleet’ as captured under the office of the national security adviser (ONSA) comprises a recurrent and capital expenditure of N35.9 billion and 37.4 billion respectively. Besides the [...]

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    EXTRA: Ayade signs budget of ‘Olimpotic Meristemasis’ into law

EXTRA: Ayade signs budget of ‘Olimpotic Meristemasis’ into law

Ben Ayade, governor of Cross River, has signed the state’s budget of "Olimpotic Meristemasis" into law. Speaking while signing the N1.1 trillion 2020 budget which comprises 82 percent capital expenditure and 18 percent recurrent, Ayade said it would help actualise the key projects of his administration. He said despite low allocations, Cross River has been been able to pay salaries and carry [...]

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    Reps panel increases 2020 budget by N260bn

Reps panel increases 2020 budget by N260bn

The house of representatives committee on appropriations has recommended an increase in the 2020 budget by N260 billion. The committee’s recommendations were contained in its report presented at Wednesday’s plenary session by Muktar Betara, its chairman, thereby increasing the size of the appropriation bill from its initial N10.33 trillion to N10.59 trillion. On October 8, President Muhammadu Buhari presented a budget proposal of [...]

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    Finally, Buhari sends NDDC 2019/2020 budgets to n’assembly

Finally, Buhari sends NDDC 2019/2020 budgets to n’assembly

President Muhammadu Buhari has finally sent the 2019/2020 budget for the Nigerian Delta Development Commission (NDDC) to the national assembly for passage. The president presented the 2019 and 2020 appropriations bills of the agency to both the senate and house of representatives in separate letters read during Tuesday’s plenary session. The president’s letter did not give the estimates of the budget which [...]

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    Sanwo-Olu presents N1.16trn 2020 ‘budget of awakening’

Sanwo-Olu presents N1.16trn 2020 ‘budget of awakening’

Babajide Sanwo-Olu, governor of Lagos, presented N1.168 trillion 2020 appropriation bill to the state house of assembly on Friday. The budget presented to the assembly consists of a capital and recurrent expenditure of N723.6billion and N441.8billion respectively. The estimates tagged ‘Budget of Awakening’ is about N294 billion more than the state’s 2019 budget of N874 billion. “The proposed budget size for the year [...]

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    Sanwo-Olu to speak at town hall meeting on Lagos budget process

Sanwo-Olu to speak at town hall meeting on Lagos budget process

Babajide Sanwo-Olu,  governor of Lagos state, will on November 15, speak at a town hall meeting to discuss the state's budget.  The meeting is organised by Connected Development (CODE), a non-governmental organisation in partnership with ActionAid. In a statement, the organisers said the event,  tagged: "LAGOS YOUTH BUDGET TOWN HALL MEETING", will hold at the Julius Berger Auditorium in the University of [...]

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    Lawan: FG borrowing to fund budgets because many agencies don’t deliver

Lawan: FG borrowing to fund budgets because many agencies don’t deliver

Senate President Ahmad Lawan says the federal government has been borrowing to fund budgets because many revenue-generating agencies have been performing below expectation. Ezrel Tabiowo, special assistant (press) to the senate president, quoted Lawan as saying this while speaking at the third University of Benin/National Institute for legislative and Democratic Studies (NILDS) convocation ceremony. The senate president reportedly said national assembly through [...]

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    Yakubu: INEC followed 2019 budgetary provision despite pressure

Yakubu: INEC followed 2019 budgetary provision despite pressure

Mahmood Yakubu, chairman of the Independent National Electoral Commission (INEC), says the commission followed the 2019 budgetary provision despite pressure to accommodate some of its activities. He said this while addressing the national assembly joint committee on budget defence in Abuja, on Thursday. The INEC chairman said the commission’s budget status gives it the flexibility to move funds from one head to [...]

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    Buhari to present 2020 budget on Tuesday

Buhari to present 2020 budget on Tuesday

President Muhammadu Buhari will present the 2020 budget to the national assembly on Tuesday. The president said this via a letter addressed to the leadership of the assembly. The letter was read at both chambers during Thursday’s plenary. While addressing journalists, Adedayo Adeyeye, senate spokesman, said the president will arrive the national assembly at 2pm. “Next Tuesday by 2 p.m., the president will [...]

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    N’assembly: MDAs diverting govt revenues with frivolous excuses

N’assembly: MDAs diverting govt revenues with frivolous excuses

The national assembly has warned government ministries, departments and agencies (MDAs) against expenditures not approved or allocated for in the budget. The legislature specifically cautioned against spending revenues generated by various government agencies without the required approval. The warning was issued by Solomon Adeola, chairman of the senate committee on finance, and James Faleke, his counterpart in the house of representatives, after [...]

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    FG proposes N9.79 trillion for 2020 budget

FG proposes N9.79 trillion for 2020 budget

The federal government says it will propose a sum of N9.79 trillion to the national assembly as total expenditure in the 2020 budget. The amount which represents an increase of 9.75 percent over N8.916 trillion spending for 2019, is based on the projection of a proposed revenue of about N7.64 trillion and a total proposed fiscal deficit component of about N2.142 trillion. Zainab [...]

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    I didn’t inflate contracts, Fashola tackles BPP

I didn’t inflate contracts, Fashola tackles BPP

Babatunde Fashola, minister of works and housing, says there was no inflation in the contracts awarded by his ministry in 2018. The Bureau of Public Procurement (BPP) said it saved N26 billion for the federal government in 2018 by revising the sums of government contracts approved by some ministries, departments and agencies. The agency said the highest reduction was made from the ministry [...]

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    BudgIT beams its searchlight on Ghana

BudgIT beams its searchlight on Ghana

BudgIT, a civic tech organisation, has launched operations in Ghana. Gabriel Okeowo, BudgIT principal lead, announced the development in a statement on Thursday. BudgIT uses an array of tech tools to simplify the budget and matters of public spending for citizens, with the primary aim of raising the standard of transparency and accountability in government. “This exactly is our ultimate goal in Ghana, [...]

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Exchange Rates

March 25, 2019USDGBPEUR
INTERBANK306397354
LAGOS380478402
KANO375477498
PH380478498
ABUJA375476400
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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