The Federal Government on Tuesday said it had released ₦1.58 trillion to its Ministries, Departments and Agencies for the execution of capital projects as contained in the 2017 budget. The Minister of Finance, Mrs Kemi Adeosun, gave the figure in a statement issued in Abuja. The 2017 budget, christened ‘Budget of Recovery and Growth’, was […]
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The Federal Government said on Monday that it had implemented 16.55 per cent of the capital component of the 2017 budget of Ministry of Transportation. The Minister of Transportation, Mr. Rotimi Amaechi, said this when he appeared before the Senate Committee on Land Transport to defend the 2018 budget proposal of his ministry. The Chairman […]
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The Edo Government said on Friday it has reduced the state 2017 budget to ₦127.92 billion from ₦153. 9 billion earlier estimated. The decision was taken by the state executive council and communicated through a statement issued by the state Commissioner for Communication and Orientation, Mr. Paul Ohonbamu. The statement said after careful deliberation and […]
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Part of the funds recovered from those who stole from the country is been used to finance the 2017 budget, President Muhammadu Buhari has said. Buhari, who spoke at the 22nd Annual Conference of the Association of National Accountants of Nigeria in Abuja on Tuesday, was represented by the Accountant General of the Federation, Alhaji […]
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The Federal Government plans to release ₦100 billion for capital projects to take its total spending in the 2017 budget for infrastructure to ₦440.9 billion by next week, the Finance Minister, Mrs Kemi Adeosun, has said. Mrs Adeosun, who stated this said yesterday in Abuja at the Joint Finance and Appropriation Committee Sitting on the […]
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Nigeria’s Minister of Finance, Mrs. Kemi Adeosun, on Monday confirmed the release of the sum of ₦350 billion to Ministries, Departments and Agencies of the Federal Government for the implementation of capital projects contained in the 2017 budget. Punchng exclusively confirmed this new development during a telephone interview with the minister. The 2017 Appropriation bill; […]
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As controversies continue to trail the allocation of ₦350 billion for capital projects in 2017 ₦7.441 trillion budget, at a time Nigeria is facing the challenge of huge infrastructure deficit, many financial experts are calling on government to increase allocation for capital projects to over 50 percent of the total budget, in order to ensure […]
Read More Nigeria will continue to borrow to fund its budget for 2017, the finance ministry said in a statement on Thursday, after the finance minister said on Tuesday Africa’s largest economy “cannot borrow anymore”. Finance Minister Kemi Adeosun’s comments had raised questions about how Nigeria would fund its budget for the year and about planned foreign […]
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Nigeria’s oil production, which hit 2.05 million barrels per day (mbpd) in June may suffer further decline that could threaten the 2017 budget as the Organisation of Petroleum Exporting Countries (OPEC) has invited Nigeria for briefing on its production plan. Minister of Petroleum Resources, Mr. Ibe Kachikwu, was invited to attend the OPEC and non-OPEC […]
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Minister of Budget and National Planning, Senator Udoma Udo Udoma, has said that the Federal Government will not jettison its plan to borrow the sum of ₦2 trillion to finance the 2017 Budget despite Nigeria’s local and foreign debt currently standing at ₦19 trillion. Speaking to newsmen after appearing before the National Working Committee of […]
Read More Minister for Budget and National Planning, Mr Udoma Udo Udoma, has warned Federal Government Ministries, Departments and Agencies (MDAs) against padding their personnel budget proposals for the 2018 fiscal year. The Minister gave the warning in a circular to the Chief of Staff to the President, the Deputy Chief of Staff to the Vice President, […]
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The Federal Government is expected to release ₦350 billion to Ministries, Department and Agencies ( MDAs) for towards execution of capital projects under the 2017 budget, Minister of Finance, Mrs. Kemi Adeosun has said. Speaking during an interactive session that preceded the official public presentation of 2017 Appropriation Act organized by the Budget Office and […]
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