Tuesday, July 23, 2019

Tag "Udo Udoma"

    Nigeria’s oil revenue rises by over 100% in one budget cycle

Nigeria’s oil revenue rises by over 100% in one budget cycle

Nigeria's oil revenue has recorded a jump of over 100 percent in 2018 alone.According to Udo Udoma, the minister of budget and national planning, Nigeria's aggregate revenue as at the end of September 2018, is 40 percent more than the revenues recorded in 2017."As at the end of the third quarter, Federal Government’s actual aggregate revenue wasN2.84 trillion, which is [...]

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    Invasion of Akwa Ibom assembly by anti-democratic forces

Invasion of Akwa Ibom assembly by anti-democratic forces

BY WILLIAM IYANGAnybody who loves Nigeria should be worried about what is happening in Akwa State right now. This is certainly not a time to fold our hands and pretend that all is well in Nigeria. Democracy is at risk in Nigeria. That is why lovers of democracy should arise in unison to condemn the attack on the Akwa Ibom [...]

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    Udoma: In four years, all 774 LGAs will have internet connectivity

Udoma: In four years, all 774 LGAs will have internet connectivity

Udo Udoma, minister for budget and national planning, says in four years, every of the 774 local government areas in Nigeria will have internet connectivity. The minister disclosed this while speaking at the 42nd Annual Conference of Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) in Lagos on Thursday.He said the government is working to increase broadband penetration across all geopolitical zones of [...]

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    Adeosun, Emefiele and my experience in Trump’s America

Adeosun, Emefiele and my experience in Trump’s America

After Donald Trump became the president of the world's most powerful nation in January 2017, he gave executive orders to deny entry for citizens and visitors from some Islamic nations. This executive order also saw to the deportation of many Mexicans who came into the US questionably -- with no form fair hearing.For Nigeria, the news space was filled with [...]

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    No plans to increase taxes, says FG

No plans to increase taxes, says FG

Udoma Udoma, minister of budget and national planning, says the federal government has no intention of increasing taxes.In a statement signed by Akpandem James, Udoma's media adviser, the minister said the government is working towards broadening its tax revenue base.According to the statement, Udoma made the clarification while responding to a comment by Ben Bruce, a senator, at a public [...]

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    N74m Aso Rock rent, N94m for tyres, N396m for cars… 20 details of Budget 2017

N74m Aso Rock rent, N94m for tyres, N396m for cars… 20 details of Budget 2017

President Muhammadu Buhari presented the 2017 budget to the national assembly on Wednesday, December 14, 2016, promising economic recovery.As expected the budget, which amounted to N7.298 trillion naira, was different from the 2016 budget in many ways.TheCable reviewed the 1,047-paged document, and brings you 20 fine details of interest.Here are some details of the 2017 budget:Total budgetN7.298 trillion budget.Aim of the budgetThe [...]

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    We’re building on Vision 2020 to get out of recession, says Udoma

We’re building on Vision 2020 to get out of recession, says Udoma

Udo Udoma, minister of budget and national planning, says the economic plan of the federal government to pull the country out of recession builds on the previous development plans, particularly the Vision 20-2020.Briefing the national assembly about the plan —National Economic Recovery and Growth Plan (NERGP) — on Wednesday, Udoma said the need for the plan and its effective implementation was [...]

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    FG anticipates GDP drop ahead of 2019 presidential election

FG anticipates GDP drop ahead of 2019 presidential election

The federal government says the it has made provisions for a drop in Nigeria's gross domestic product (GDP) ahead of the 2019 election year.Udo Udoma, minister for budget and national planning, said this in Abuja on Wednesday while briefing the media on the proceeds of the federal executive council meeting.Udoma said his ministry had prepared the 2017 appropriation bill based [...]

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    Nigeria’s economic recession may be long and deep, says Peterside

Nigeria’s economic recession may be long and deep, says Peterside

Atedo Peterside, founder and chairman of Stanbic IBTC Bank Plc, says Nigeria’s economic recession may be long and deep.Peterside, who doubles as the vice chairman of Nigerian Economic Summit Group (NESG), says the recession may be long and deep due to low investor confidence in Africa’s biggest economy.“Nigeria's economic recession may be long and deep because business confidence is low [...]

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    Osinbajo confers with economists on ‘quick economic recovery’

Osinbajo confers with economists on ‘quick economic recovery’

Vice-President Yemi Osinbajo met notable economists on Tuesday to discuss how Nigeria can be on a quick path to economic recovery.At the meeting, Osinbajo said the challenges bedevilling the Nigerian economy are many, but the opportunities that abound are much more.Economic experts who attended the four-hour long special meeting were Bismarck Rewane, Bode Augusto, Akpan Ekpo, Ayo Teriba and Badayi [...]

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    FG benchmarks 2017 budget against $42.5/barrel for oil, 290/$1 for naira

FG benchmarks 2017 budget against $42.5/barrel for oil, 290/$1 for naira

The federal government has unveiled the key benchmarks for the 2017 budget, pegging oil price at $42.5 per barrel.Udo Udoma, minister of budget and national planning, unveiled the government's plan pn Monday at medium term fiscal framework public consultative forum with civil society organisations (CSOs) and the organised private sector.Udoma revealed that the federal government expects oil output to move [...]

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    FG rejects IMF’s prediction, says economy will grow by over 3% in 2016

FG rejects IMF’s prediction, says economy will grow by over 3% in 2016

The federal government says the Nigerian economy will grow by 3.3 to 3.5 percent by the end of 2016, defying the International Monetary Fund (IMF) forecast on the economy.This was disclosed by Udo Udoma, minister of budget and national planning, after the national economic council (NEC) meeting in Abuja on Thursday.Speaking to journalists after the meeting, Udoma — like Kemi Adeosun, [...]

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    Breakdown of 2016 budget to be presented Thursday

Breakdown of 2016 budget to be presented Thursday

Udo Udoma, minister of budget and national planning, says the breakdown of the 2016 budget will be presented on Thursday.According to a statement which the ministry issued in Abuja on Monday, the strategic implementation plan of the budget would also be presented on the same day.The statement signed by James Akpandem, Udoma’s media aide, said the minister would perform the [...]

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    100% budget implementation still possible, says FG

100% budget implementation still possible, says FG

The federal government on Saturday said the late signing of the 2016 budget will not affect its full implementation.President Muhammadu Buhari signed the bill into law on Friday, five months after he presented it to the national assembly.In a statement issued on his behalf by Akpandem James, his media aide, Udo Udoma, minister of budget and national planning, said the [...]

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    We’ll get 2017 budget passed in 2016, says FG

We’ll get 2017 budget passed in 2016, says FG

The federal government says it wants the 2017 budget passed into law in 2016, following the federal executive council's approval of the timetable for the 2017 budget.At the executive council meeting presided by President Muhammadu Buhari, Udo Udoma, minister for budget and national planning, said work was still ongoing with the 2016 budget, adding that his team also wants the 2017 [...]

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Reserves rising again as Nigerian crude hits $39

Nigeria's foreign reserves are on the rise again, as the Central bank of Nigeria (CBN) confirmed on Thursday that the Nigerian crude, bonny light, is trading at $39.07 per barrel.The current selling price, which is above the 2016 budget benchmark of $38 per barrel of crude by $1, is also the highest point for Bonny Light in 2016.According to the latest [...]

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Exchange Rates

July 22, 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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