Wednesday, November 14, 2018

Tag "budget"

    ‘You often send window dressing documents’ — senator blames executive for budget delay

‘You often send window dressing documents’ — senator blames executive for budget delay

Biodun Olujimi, senate minority leader, has accused President Muhammadu Buhari of unjustly blaming the national assembly over the delay in the passage of the 2018 budget.The senator said contrary to Buhari’s claim that the lawmakers delayed the passage, what the executive usually sends to the legislative chamber is "window dressing documents".Buhari presented the budget to the national assembly in November 2017 [...]

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    Buhari: Why I am disappointed in national assembly

Buhari: Why I am disappointed in national assembly

President Muhammadu Buhari says he felt disappointed in the national assembly for delaying the passage of the 2018 budget by seven months.Femi Adesina, presidential spokesman, quoted Buhari to have said this when he received a delegation of citizens of Niger state led by Abubakar Bello, the governor, at the presidential villa in Abuja on Friday.Buhari presented the budget to the [...]

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    N’assembly’s 2017 budget ‘higher than those of 10 states’

N’assembly’s 2017 budget ‘higher than those of 10 states’

Enough is Enough Nigeria (EIE), a civil society organisation, says the N125 billion budget of the national assembly in 2017 was higher than of those of 10 states in the country.Adeolu Adekola, programme director of EIE, said this on Wednesday while addressing a press conference in Abuja.Adekola said they wrote to the leadership of the national assembly and then [...]

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    Bone of contention: The issues delaying INEC’s budget for 2019 polls

Bone of contention: The issues delaying INEC’s budget for 2019 polls

The national assembly joint committee considering the budget for 2019 elections has met on three occasions – and all three meetings have been inconclusive.Before the lawmakers embarked on their annual recess on July 24, President Muhammadu Buhari had sent a supplementary budget of N242 billion to be passed for the 2019 elections.Amid calls to reconvene and pass the budget, the [...]

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    2019 polls: INEC budgets N6bn for feeding of security operatives

2019 polls: INEC budgets N6bn for feeding of security operatives

The Independent National Electoral Commission (INEC) has finally met with lawmakers to kick-start the process of passing the budget for 2019 elections.The leadership of the electoral umpire met with the house of representatives committee on electoral and political parties matters in Abuja on Wednesday, regarding the N189 billion budgeted for it to conduct the election.President Muhammadu Buhari had sent a [...]

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    Udoma: Buhari yet to receive passed 2018 budget

Udoma: Buhari yet to receive passed 2018 budget

Udoma Udoma, minister of budget and national planning, says President Muhammadu Buhari is yet to receive the 2018 budget passed by the national assembly.Udoma disclosed this on Wednesday while responding to questions from state house correspondents at the end of the of federal executive council (FEC) meeting.On May 16, the national assembly had approved the budget,  six months after it [...]

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    Senate gives agencies one-week ultimatum to submit budgets

Senate gives agencies one-week ultimatum to submit budgets

The senate has given a one-week ultimatum to government agencies to submit their budgets or "face necessary actions".The resolution of the senate was sequel to a motion sponsored by Ahmed Lawan, senate leader, on Wednesday.Lawan said out of the over 60 agencies, only the Nigerian Communications Commission (NCC) has submitted its budget.The senate leader said President Muhammadu Buhari has done [...]

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    Budget ministry director dies while playing badminton in Abuja

Budget ministry director dies while playing badminton in Abuja

Abdulyekin Sanchi, finance director at the ministry of budget and national planning, slumped and died while partaking in a badminton tournament in Abuja.The incident reportedly occurred around 9am on Saturday.Sanchi was said to have been rushed to a nearby hospital from the tournament venue, where he was pronounced dead.His death happened eight days after Ayodeji Tinubu, an aide of Akinwunmi Ambode, [...]

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    35 states get N28bn loan to pay salaries — minus Lagos

35 states get N28bn loan to pay salaries — minus Lagos

The federal government has given approval for the release of N28 billion as budget loan for 35 states, excluding Lagos which does not need it.Udoma Udoma, minister of budget and national planning made this known to reporters at the end of the national economic council (NEC) meeting chaired by Vice-President Yemi Osinbajo.According to him, each state will receive N800 million to [...]

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    2018 Budgetary spending ‘NOT N8.6trn but around N10trn’

2018 Budgetary spending ‘NOT N8.6trn but around N10trn’

Jide Akintunde, managing editor and chief executive officer of Financial Nigeria Magazine, says the 2018 budget presented to a joint session of the national assembly by President Muhammadu Buhari, is “worse than nonsense.”Speaking in an interview with Osasu Igbinedion on the Osasu Show, Akintunde said the budget is grossly unrealistic, adding that it will only increase the debt bucket of [...]

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    Buhari writes national assembly, to present Budget 2018 Tuesday

Buhari writes national assembly, to present Budget 2018 Tuesday

President Muhammadu Buhari has written a letter to the national assembly, seeking to present the estimates of the 2018 budget.Yakubu Dogara, speaker of the house of representatives, read the letter at plenary on Thursday.Buhari requested to present the budget to a joint session of the national assembly at 2pm on Tuesday.Udoma Udo Udoma, minister of budget and national planning, had [...]

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    Budget 2018 being finalised, says presidency as FEC meeting is moved to Thurs

Budget 2018 being finalised, says presidency as FEC meeting is moved to Thurs

The presidency has postponed this week's federal executive council (FEC) meeting to Thursday.The meeting usually holds on Wednesday.Garba Shehu, spokesman of President Muhammadu Buhari, announced the postponement in a tweet. He said the only agenda of the meeting is the 2018 budget.“Federal executive council (FEC) meeting will hold tomorrow, Thursday October 26. Agenda is #Budget2018, which is currently being finalized," the [...]

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    How FG plans to fund N3.52trn deficit in 2018 budget

How FG plans to fund N3.52trn deficit in 2018 budget

The federal government plans to finance the N3.52 trillion deficit in the 2018 budget with revenue from crude oil sales and non-oil sources.According to the medium term expenditure framework (MTEF) and fiscal strategy paper (FSP), 43.2 percent of funds are projected to come from oil revenue, while 56.8 percent is to be earned from non-oil sources.Data from the MTEF and [...]

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    Adeosun: 2017 budget to be rolled over into 2018

Adeosun: 2017 budget to be rolled over into 2018

Kemi Adeosun, minister of finance, has revealed the federal government’s plan to roll over at least 60 percent of 2017 capital projects to 2018 budget proposal.Adeosun made this known when she appeared before the senate joint committees on finance and appropriations.She was accompanied by Udoma Udoma, minister for budget and national planning, to give an explanation on releases so far [...]

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    EXTRA: Aso Rock clinic DOES NOT have paracetamol or cotton wool

EXTRA: Aso Rock clinic DOES NOT have paracetamol or cotton wool

This might give you some headache: the clinic for Nigeria's seat of power does not have the commonest of medications, paracetamol, TheCable has learnt.And cotton wool? The patient has to buy from outside. Syringes? Not available. X-ray? Sorry, the machine is out of order. Ambulance? Well, if the patient can buy the fuel.This is the sorry story of the State House [...]

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    Osinbajo asks n’assembly to re-allocate N135bn in 2017 budget

Osinbajo asks n’assembly to re-allocate N135bn in 2017 budget

Acting President Yemi Osinbajo has sought the approval of the house of representatives for the virement (re-allocation) of N135 billion in the 2017 budget to some exigent projects.The request of the acting president was contained in a letter to the lower chamber. The letter was also sent to the senate, but it was not read by Senate President Bukola Saraki [...]

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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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