A Nigerian newspaper and Online version of the Vanguard, a daily publication in Nigeria covering Nigeria news, Niger delta, general national news, politics, business, energy, sports, entertainment, fashion,lifestyle human interest stories, etc
Mr Ahmed Idris, the Accountant-General of the Federation (AGF), has said that N10 billion paid for local contractor’s liabilities was duly appropriated for in the 2017 budget.
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Returning to plenary after a two-week break during which it reviewed the 2017 budget of the Federal Government against the proposals for 2018, the Senate yesterday returned a damning verdict of incompetence, inconsistency and ineptitude in the planning and execution of the 2017 budget.
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PRESIDENT Muhammadu Buhari has written to the Senate, seeking approval for external loan of $5.5 billion to enable the Federal Government finance the 2017 budget.
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The Federal Government has stepped up its aggressive borrowing measures as Debt Management Office, DMO, indicated that it would be raising additional USD2.5 billion (about N917 billion) through a fresh Eurobond offer in November 2017
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The Federal Ministry of Mines and Steel Development is to spend about N12.9 billion for capital expenditures in 2017, against N7.3 billion appropriated for similar projects in 2016.
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The Senate has cautioned Minister of Works, Housing and Power, Mr. Babatunde Raji Fashola, SAN, to stop spreading wrong information and half-truth about the 2017 budget as the legislators worked to ensure equity across the country on all new and outstanding projects.
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Mr Babatunde Fashola, the Minister of Power, Works and Housing, has raised alarm over the insertion of projects outside the purview of his ministry in the 2017 Appropriation Act by the National Assembly.
Read MoreA Financial Expert, Mr Akintunde Sowunmi has expressed concern over the strategy the Federal Government has mapped out to finance the N2.36 billion deficit in the 2017 budget.
Read More —The Ondo State House of Assembly yesterday, passed the N170.8 billion 2017 appropriation bill.
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Pan Niger Delta Youth Leadership Forum, PANDYLF, has rejected the N35.31 billion allocation for capital projects in the South South zone as contained in the 2017 budget.
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