The Oyo State House of Assembly on Tuesday passed the 2022 Appropriation Bill of N 294.7 billion for Governor Seyi Makinde’s assent. The News Agency of Nigeria (NAN) reports that Makinde had on Sept. 29 presented the Budget to the House for its passage. The Bill had recurrent expenditure of N139.5 billion and capital expenditure […]

The Anambra State House of Assembly on Thursday, passed the state 2022 Appropriation Bill of N141.9 billion. The approval came more than 53 days after Governor Willie Obiano presented the bill to the House for approval. The passage followed the adoption of the report of the House Committee on Finance and Appropriation during plenary in […]

Governor Ifeanyi Ugwuanyi of Enugu State on Tuesday presented budget proposal of N186.6 billion for the 2022 fiscal year to the State House of Assembly. Presenting the budget tagged: “Budget of Sustained Growth and Consolidation” Ugwuanyi said the 2022 budget estimate was 9.9 per cent higher than the 2021 budget, which was N169.8b. According to […]

By Davies Iheamnachor – Port Harcourt The Governor of Rivers State, Chief Nyesom Wike, proposed a budget estimate of N483,173, 307,096.00, for 2022 fiscal year to the State’s House of Assembly for consideration. Wike said the budget christened, “Budget of Consolidation”, would focus on the state’s quest for greater economic growth and fiscal consolidation, enhancing […]

The Akwa Ibom House of Assembly on Friday passed the state’s 2022 Appropriation Bill of N586.88 billion. The passed budget which is made up of N261.96 billion recurrent expenditure and N324.91 billion capital expenditure has an increase of N4.77 billion on the initial budget size. The News Agency of Nigeria (NAN) recalls that Gov. Udom […]

The deficit spending of the Federal Government, FG,   rose by 51 per cent, year-on-year,  YoY, to N5.1 trillion in seven months to July 2021, driven by rising non-discretionary spending on security and COVID-19 mitigation measures.   

The Minister of State, Budget and National Planning, Mr Clem Agba, said the federal government had spent N2.3 trillion as stimulus package to cushion the effect of the COVID-19 pandemic in the country. Agba said this at a three-day 4th National Treasury Workshop organised by the Office of the Accountant General of the Federation in […]

The Federal Government, States and Local Government Councils (LGCs) on Wednesday, shared N671.910 billion as Federation Accounts Allocation Committee (FAAC) for October. A statement by Mr Oshundun Olajide, the Acting Director, Information, Ministry of Finance, Budget and National Planning, said that the allocation was distributed at FAAC meeting in Lagos at the end of the […]

By Charly Agwam – Bauchi  The Bauchi State Government has said that the disagreement between Federal government and Rivers state over who should collect Value Added Tax (VAT) affected its projections in the budget proposal for 2022 fiscal year.  Speaking with journalists at the Bauchi Government House shortly after the State Executive Council (SEC) adopted […]

By Henry Umoru – Abuja The National Inland Waterways Authority (NIWA) has threatened to opt-out from the National budget in 2023 as the National Assembly joint panel on Marine Transport, Ports, Harbours/ Inland Waterways defer budget defence over inconsistency in the agency’s budget report. Speaking yesterday in Abuja when he appeared before the  National Assembly Joint […]

The Nigerian Communications Commission (NCC) says it is targeting revenue of N632.39 billion for the 2022 fiscal year. Executive Vice Chairman of the commission, Prof. Umar Danbatta stated this during budget defence before the National Assembly Joint Committee on Communications in Abuja. According to him, the N632.39 billion targeted revenue will comprise expected proceeds from […]

The House of Representatives Committee on Nigerian Navy has condemned the spillover of projects by some contractors handling Nigerian Navy projects. Rep Yusuf Gagdi, the chairman of the committee, expressed their displeasure on Monday, in Abuja, when the Chief of Naval Staff, Vice Adm. Awwal Gambo appeared before the committee to defend its 2022 budget. […]

By Ikechukwu Nnochiri – Abuja The Federal High Court sitting in Abuja, on Friday, halted plans by the Federal Government to deduct $418million from the bank account of the 36 states of the federation. The court, in a ruling that was delivered by Justice Inyang Ekwo, ordered FG to suspend the planned action, pending the […]

The Enugu State House of Assembly has approved a N15 billion loan request by Enugu State Government from the Central Bank of Nigeria (CBN). The loan request was contained in a letter to the house read by the Speaker, Chief Edward Ubosi, during Thursday’s plenary. Ubosi said the loan would be used to finance infrastructure […]

The House of Representatives Committee on Culture and Tourism has resolved to investigate alleged 33 per cent reduction in the 2021 budgetary allocation for the Culture and Tourism sector. The resolution followed a submission made by the Minister of Information and Culture, Alhaji Lai Mohammed, on Thursday in Abuja at the 2022 budget defence session […]