The Director-General, Budget Office of the Federation, Mr Ben Akabueze, on Wednesday explained why Nigerians were not feeling the real impact of the positive economic growth rate on their lives. He gave the explanation while making a presentation at a roundtable on the 2019 budget. The event which was organised by the Abuja Chamber of […]
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In 2019, the Debt Management Office (DMO) is expected to spend ₦2,264,711,421,667 a significant portion of which will go to settling interests on both internal and external public debts. According to the 2019 proposed budget currently with the National Assembly, under the Service Wide Vote, the document stated that ₦120,000,000,000 will be set aside for […]
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Lagos State Commissioner for Budget and Economic Planning, Mr. Olusegun Banjo on Wednesday said that the 2019 Budget was already before the State House of Assembly and had intended to be read before the house on December 24, 2018. In a statement he signed, Banjo said the Governor had sent a verbal information to present […]
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The execution of Nigeria’s 2019 budget will likely encounter a serious threat as the price of Bonny Light, the nation’s premium oil grade, yesterday, hovered at $52.72 per barrel in the international market. The price, which had dropped to as low as $48 last week, before hovering at the current level, showed $7.28 below the […]
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Gov. Okezie Ikpeazu of Abia on Friday presented ₦139,542 billion Appropriation Bill for the 2019 fiscal year to the state House of Assembly. The bill, tagged “Budget of Consolidation,” has a Capital Expenditure outlay of ₦71.7 billion, representing 51.4 per cent, and Recurrent Expenditure of ₦67.8 billion, representing 48.6 per cent. Ikpeazu said the budget […]
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The price of crude oil, yesterday, dropped from $50 to $48 in the international market, showing $12 below Nigeria’s $60 per barrel 2019 budget reference price. Specifically, the price of Brent, West Texas Intermediate, WTI and the Organisation of Petroleum Exporting Countries, OPEC, basket of 15 crudes stood at $48.00, $43.38 and $47.92 per barrel […]
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The Presidency, yesterday, took a swipe at former Vice President and Presidential candidate of Peoples Democratic Party, PDP, Alhaji Atiku Abubakar, over his comment that the 2019 Appropriation Bill presented to the National Assembly by President Muhammadu Buhari is a flawed document. The Presidency said the criticism by PDP’s Presidential candidate on recession was an […]
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The price of crude oil, yesterday, dropped to $50.00, showing $10 below Nigeria’s $60 per barrel 2019 budget benchmark in the volatile global market. The price of Brent, West Texas Intermediate, WTI, and Organisation of Petroleum Exporting Countries, OPEC, basket of 15 crudes stood at $50.00, $45.00 and $53.92 per barrel respectively. Traders attributed the […]
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The Presidential Candidate of the People’s Democratic Party (PDP), Alhaji Atiku Abubakar, has come down hard on the Nigerian National Petroleum Corporation (NNPC) over what he described as huge abuse of financial procedures in the running of the state oil company, alleging that the $1 billion voted in the 2019 budget to fund Petrol-Price-Under Recovery […]
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The exchange of words between the campaign teams of President Muhammadu Buhari of the ruling All Progressives Congress, APC, and Alhaji Atiku Abubakar, his Peoples Democratic Party, PDP, challenger over the 2019 Federal Government budget assumed another dimension, yesterday. The polity has been astir since last Wednesday when President Buhari presented the ₦8.83 trillion budget […]
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Mr Bank-Anthony Okoroafor, an energy expert, says the projected 2.3 million barrel of crude oil production per day and 60 dollar oil benchmark in the 2019 budget is not realistic. Okoroafor, in an interview with newsmen in Abuja on Sunday, said the projection does not follow the uncertainties in the global oil market. “Production of […]
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Minister of Information and Culture, Alhaji Lai Mohammed, Friday, said that the 2019 Appropriation Bill of ₦8.83 trillion presented to the joint session of the National Assembly on Wednesday was the best the government could present following the circumstances it found itself. The Minister also enthused that the President Buhari’s All Progressives Congress, APC, led […]
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