MTEF : Reps approve N1.64 trn as loan to fund 2019 budget
House of Representatives Wednesday approved the sum of N1.64 trillion as benchmark for loan to fund the 2019 budget of the federal government.
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Tag: budget
Edo govt tasks local councils to harmonise budget timeline
Local Government Areas in the Edo State have been urged to ensure that their budget timelines are in harmony with that of the state government so as to ensure that development efforts are well-aligned to guarantee maximum benefit for the people.
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House suspends budget consideration for Ministry of Trade and Investment
The House of Representatives committee on Commerce, has stepped down the budget consideration of the Ministry of Trade and Investment.
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2019 budget: FG forecasts 3.01% GDP growth rate
ABUJA—THE Federal Government has said the 2019 budget is expected to run at nominal Gross Domestic Product, GDP, of 139.65 trillion and 3.01 percent of GDP growth.
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Senate adjourn till April 9, to pass 2019 Budget on April 16
The Senate on Tuesday adjourned plenary till April 9, to allow its Committee on Appropriation conclude work on the 2019 Budget.
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NDA laments N1.3bn shortfall in 2018 budget
THE Commandant of the Nigeria Defence Academy ( NDA), Major -General Adeniyi Oyebade, yesterday told the Senate that the military training school was suffering shortfalls of well over N1.3billion in budgetary releases by the Ministry of Finance.
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2019 Budget Defence: FAAN proposes N101.6bn
Federal Airport Authority of Nigeria, (FAAN) has proposed a total budget of N101.6 billion for 2019.
Read More Minimum wage: FG in dilemma over inadequate budgetary allocation
ABUJA—THE Federal Government appears to be in a dilemma on how to source funds to pay the new N30,000 minimum wage to workers.
Read More Will the budget become hostage to hostile politics?
The report went on to disclose that Nigeria, which produced 1.792 million barrels per day in January, went down to 1.685 million in February in compliance with the agreement by members of the Organisation of Petroleum Exporting Countries, OPEC to reduce supply and raise crude prices. Unfortunately, OPEC and Nigeria are caught in a no-win situation. Each time they reduce production to push crude prices up, they make it more profitable for American shale oil producers to increase their own supply and grab more of the global market share. Already, the Us has overtaken Nigeria as a supplier of crude to the United Kingdom. Our cutback will certainly open more of that market to the Yankees.
Read More CIBN laments impact of budget delays on national productivity
THE Chartered Institute of Nigeria (CIBN) has lamented the negative impact of budget delays on national productivity calling on the Federal Government and the National Assembly to close ranks and release the budget on time.
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