News Summary 27th March 2017 : 2016 Budget Capital Release Hit One Trillion

2016 Budget Capital Release Hit One Trillion Capital released to Federal ministries departments and agencies for the 2016 budget have reached a record 1 trillion naira the highest ever budgetary release in Nigeria’s annual funding for capital projects. A statement by the Director Information Federal Ministry of Finance, Salisu Dambatta states that the minister of…

No Proposal of New Official VP’s Residence In 2016 or 2017 Budgets

Laolu Akande, Abuja: For the umpteenth time, we like to clarify that the proposed plan of the immediate past administration to build a new official residence for the occupant of the Office of the Vice President, including the controversial gatehouse preceded this administration. The project which started in 2010, was initiated and funded by the…

FIRS Makes N3.3 Trillion In 2016, Shreds Earlier Reports Of Revenue Made

The Federal Inland Revenue Service (FIRS) made a record N3.303 trillion in 2016, its chairman Babatunde Fowler disclosed in Lagos, shredding earlier reports of the revenue made for the central government by the agency. Earlier reports had said the agency only raked in between  N1.2 trillion and N2trillion for the year, as against N2.92trillion made in 2015….

2016 budget implementation below average – Hon. Opiah

Following President Muhammadu Buhari’s readiness to present the 2017 appropriation bill tomorrow,(Wednesday), a member representing Ohaji/Egbema/Oguta/Oru West federal constituency of Imo State, Hon. Goodluck Nanah Opiah has expressed concern over poor implementation of the 2016 budget. In an exclusive interview with DAILY POST in Abuja, the lawmaker noted that there were growing concerns among lawmakers…

Why 2017 budget may be worse than 2016

President Muhammadu Buhari on Friday vowed that the appropriation bill for 2017 fiscal year will not be tampered with or padded, as happened to the 2016 budget. He assured that the 2017 document will be better put together than happened the previous year, which was trailed by controversies that caused it to be delayed for…

2016 budget: FG spent N3.577trn in 9 months – Udoma

The Minister of Budget and National Planning, Senator Udoma Udo Udoma, Monday, said that the Federal Government has spent N3.577 trillion as at September out of the N6.06 trillion budgeted for 2016. Udoma made this disclosure yesterday in Lagos at the KPMG CFO Forum. According to him, “The Federal Government has spent about N3.577 trillion…

AfDB President: Nigeria Is Too Big To Fail

President of the African Development Bank, AfDB Dr. Akinwumi Adesina with President Muhammadu Buhari of Nigeria The African Development Bank (AfDB) has restated its commitment to supporting Nigeria’s socio-economic development aspirations saying the country is too big to fail. President of the bank Dr. Akinwumi Adesina who said this in an audience with President Muhammadu…

News Summary on NTA, 11th Nov 2016; Buhari Swears In New Acting CJN

President Buhari Swears in Walter Samuel Onnoghen as Acting Chief Justice of Nigeria (CJN) President Muhammadu Buhari has challenged the nation’s judiciary to remain in the forefront of his administration’s effort at securing the country and re-positioning the economy and eliminating waste and corruption for a better Nigeria. The president threw the challenge while swearing…

Edo assembly approves reduction of 2016 budget

The Edo House of Assembly on Wednesday approved a downward review of the state’s 2016 budget. The News Agency of Nigeria (NAN) reports that the governor, Mr Adams Oshiomhole, had on Friday written to the house, urging it to approve the reduction of the budget from N116.64 billion as passed in February to N115.91billion. In…

NOA solicits Senate intervention on 2016 Budget

The National Orientation Agency (NOA) has solicited the intervention of the Senate to prevent the agency’s operations from grinding to a halt as a result of non-appropriation in the 2016 budget. Director-General of NOA Garba Abari made the call when the Senate Committee on Information and National Orientation paid an oversight visit to the Agency’s…