The federal government has raised N6.7 billion through the auction of savings bonds in the last eight months, the Debt Management Office (DMO) has said.An analysis of data from the DMO showed that the savings bond was highly subscribed in the first few months.At its debut offer in March, the debt office raised N2.068 billion from the 13.01 percent two-year [...]
Tag "Federal Government"
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Shehu Sani, senator representing Kaduna central, says the federal government must be impartial when publishing the list of alleged looters.Adetokunbo Mumuni, executive secretary, Socio-Economic Rights and Accountability Project (SERAP), had quoted Abubakar Malami, attorney-general of the federation, as saying President Muhammadu Buhari had directed all relevant agencies to compile documents on names of all “looters”.The directive is to enforce the [...]
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 [...]
The National Association of Resident Doctors (NARD) has refused to call off its strike despite meeting with the federal government over its action.On Wednesday, a federal government delegation led by Isaac Adewole, minister of health, and Chris Ngige, minister of labour and employment, met with the leadership of NARD to resolve the problem. The meeting spilled into Thursday.In a statement [...]
Olisa Agbakoba, a former president of the Nigerian Bar Association (NBA), has said "the non-performing government we have" in the country cannot attract foreign direct investment.Speaking on Monday at the ongoing annual general conference of the NBA in Lagos, he blamed inept leadership for country's underdevelopment.He described the country's poor leaders as the "central challenge" facing Nigeria.The senior advocate of Nigeria (SAN) said [...]
The federal government has handed over the presidential lodge in Marina to the Lagos state government.President Muhammadu Buhari had promised to entrust the edifice to the Lagos government in the bid to boost tourism development.Speaking after a memorandum of understanding was signed between the federal and state government on Thursday, Tunji Bello, secretary to the state government, said the successful [...]
The federal, states and local governments shared N1.4 trillion in the first quarter of 2017, according to the federation account allocation committee (FAAC) report.Akwa Ibom received the highest share of N34.8bn while Osun state got N1.7bn, the lowest among the states.The breakdown is contained in the monthly FAAC report.Obtained by NAN on Sunday, the report indicates that the federal government, [...]
Lai Mohammed, the minister of information and culture, has said that the federal government did not pay €2m ransom to secure the release of 82 Chibok girls.A BBC report had recently quoted a source as saying that €2m was paid to the Boko Haram insurgent group during the course of negotiation."Paying a ransom as well as swapping prisoners was a [...]
BY LANRE ASIWAJU The oil boom of the 1970s had profound effects on the Nigerian economy; government embarked on white elephant projects, the size of government expanded rapidly with the attendant increase in corruption, rising wage and appreciating naira made non-oil exports uncompetitive and most importantly, government’s revenue base shifted from non-oil—mainly agriculture—to oil.The dependence on volatile oil revenue for [...]
Ayodele Fayose, governor of Ekiti state, has compared the All Progressives Congress (APC) to the "biblical prodigal son".Expressing concerns over the plan of the current administration to lend $1bn Eurobond, Fayose threatened to sue the federal government over the issue.He said he was worried that the deal could plunge the country into more economic crisis.On Thursday, the government issued $1 billion [...]
Laolu Akande, spokesman of Vice President Yemi Osinbajo, says the federal government has started paying a stipend of N5,000 monthly to the poorest and the most vulnerable Nigerians in the country.In a statement on Monday, Akande explained that the payment was done through the Conditional Cash Transfer (CCT) of its Social Investment Programmes (SIP)."Under the CCT, one million Nigerians would receive [...]
The federal government has tasked the National Identity Management Commission (NIMC) to ensure that the national identification number is used to authenticate eligible voters in future.Vice President Yemi Osinbajo gave the charge while speaking at a policy round-table meeting on Identity Management organised by NIMC in collaboration with the World Bank at the state house conference centre.The accusation of underage voting, [...]
Dangote group has pledged to support the federal government and Kano state in exploring key sectors of the economy to cushion the effect of the recession among Nigerians.The group said in a statement on Monday in Abuja, that it would exploreopportunities opening up in agriculture, mining and infrastructure, through partnership with the levels of government.Halima Dangote, an executive director of [...]
The Treasury Single Account (TSA), introduced by the federal government to check corruption, is stalling research in the universities, according to the Academic Union of Universities (ASUU).Exempting the universities from the TSA is among the demands of ASUU, whose members embarked on a one-week warning strike on Wednesday.According to Biodun Ogunyemi, its national president, other demands include the payment of [...]
Ahmed Raji (SAN), counsel to Sambo Dasuki, former national security adviser (NSA), says he is not aware of the offer of the government to allow his client attend his father's funeral. Ibrahim Dasuki, ex-sultan of Sokoto and father of Sambo, died on Monday in Abuja, but he was buried in Sokoto on Tuesday.Dasuki, who has been in detention since December [...]
The Economic and Financial Crimes Commission (EFCC) says all looted funds recovered by it are paid into the consolidated revenue account of the federal government.The commission made this known on its Twitter handle, @officialefcc, while responding to a question from one of its followers.In a tweet to the commission through the handle @asantoo11a, the follower had asked; “When are we [...]
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