The Federal Government on Tuesday started a move to return the country back to a predictable January to December fiscal year with early preparation of the 2018 budget proposals, just it will present the breakdown of the 2017 Budget to the general public on Monday, June 19 at the Ministry of Foreign Affairs headquarters in […]
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Acting President Yemi Osinbajo has signed the 2017 Appropriation Bill into law, one month after it was passed by the National Assembly. Senate President Bukola Saraki and Speaker of the House of Representatives, Yakubu Dogara, joined the Acting President at the Presidential Villa for the signing of the budget. The National Assembly passed the budget […]
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Nigeria’s excess crude oil revenue has dropped by five per cent as oil prices fell to $49.26 per barrel yesterday, posing fresh threat to implementation of the yet unsigned 2017 budget and the exchange rate of the naira, Vanguard reports. Specifically, the nation generated about $114 million from the export of about two million barrels […]
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A Presidency official has explained why the budget signing ceremony billed for today became a no-show. The official attributed it to the extensive consultations between the presidency and ministers, on one hand and National Assembly members on the other. The National Assembly on 11 May passed the record ₦7.44 trillion ($24.45 billion) budget for 2017. […]
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Acting President Prof. Yemi Osinbajo will sign the 2017 Budget into law on Thursday by 9:00 A.M at the Presidential Villa. Sources told correspondent in Abuja that the representatives of the President had just concluded a meeting with the leadership of the National Assembly where the date and time of the budget has been announced. […]
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Nigeria Minister of Finance, Kemi Adeosun has eliminated the possibility of the government relying on recovered loots from former political office holders as basis for funding the 2017 appropriation bill. NEWSTAGE had on monday reported that the general overseer of The Redeemed Christian Church of God (RCCG) Pastor Enoch Adeboye said that Nigerians deserve to […]
Read MoreThe National Assembly on Thursday passed the 2017 Appropriation Bill, with estimates totalling ₦7.441tn. The passage followed the consideration and adoption of a report by the Senate and House of Representatives’ Committees on Appropriations on the bill. Of the total, ₦434,412,950,249 is for statutory transfers; ₦1,841,345,727,206 for debt service; ₦177,460,296,707 for sinking fund for maturing […]
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Senate Leader Ahmed Lawan on Thursday said the Senate would conclude legislative work on the 2017 appropriation bill next week and pass it to President Buhari for assent. At the end of a meeting with President Muhammadu Buhari, the senate leader said that the National Assembly had intended to pass the bill in March but […]
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The Nigeria Labour Congress, NLC, and some concerned members of the House of Representatives have expressed optimism that with the revelation so far made on recovered money, the country could fund its annual budget without recourse to external borrowing. Some members of the House, specifically, argued that if necessary policy measures were put in place […]
Read More The Bayelsa State House of Assembly on Friday passed the state’s 2017 Appropriation Bill of N243.2 billion. The Speaker of the House, Mr Konbowei Benson, expressed optimism that the funds would be judiciously used to improve the quality of lives of the people. A breakdown of the 2017 Appropriation Bill showed that N191 billion was […]
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The Trump administration’s budget proposal for the next fiscal year would cut Small Business Administration funding by 5 percent, eliminating some Obama administration programs aimed at creating jobs. The proposed SBA budget would total $826.5 million, the smallest of any Cabinet-level agency and $43.2 million less than it was allocated for the current fiscal year, […]
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The Director-General, Budget Office of the Federation, Mr Ben Akabueze, says there is no padding in the 2017 Budget as being alleged in some quarters. He said this at a news conference in Abuja on Thursday while clarifying issues raised concerning the budget. Akabueze said that ‘padding’ was a term used to describe unauthorised or […]
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