The Federal Government has called on state governments to reduce unnecessary overhead costs and enthrone fiscal discipline. The Minister of Finance, Mrs Zainab Ahmed, made the call, yesterday, at the on-going 2018 Conference of the National Council on Finance and Economic Development, NACOFED, in Kaduna. Special Adviser on Media and Communications to the minister, Mr […]
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The nation’s federally collected revenue for the third quarter of this year rose by 8.9 per cent to ₦2.52 trillion, compared to the previous quarter, the Central Bank of Nigeria has said. The CBN, in its economic report for the third quarter of 2018 released on Monday, said, “Federally collected revenue, at ₦2.52 trillion, in […]
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In a bid to boost agriculture in the country, the federal government has approved N60 billion subsidy to support rice industry in the country. Minister of Agriculture, Chief Audu Ogbe, disclosed this while briefing State House correspondents after a meeting of the National Food Security Council presided over by President Muhammadu Buhari on Friday, in […]
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Purported plans by the Federal Government to reduce the $8.1 billion fine imposed on the communication giant, MTN, to $800 million is causing ripples in the Senate, Daily Sun has gathered. It was learnt that the Federal Government, working through the Central Bank of Nigeria (CBN), may have concluded plans to cut the $8.1 billion […]
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The Federal Government, yesterday, stated that it has borrowed $495 million from the World Bank for the implementation of the Transforming Irrigation Management in Nigeria Project (TRIMING). Minister of Water Resources, Mr. Suleiman Adamu, who stated this while reeling out his achievements as minister in Abuja, explained that the project involves the rehabilitation/expansion of about […]
Read More The Debt Management Office (DMO) says the Federal Government is to auction by subscription ₦115 billion worth of bonds on Nov. 21. The DMO said in a circular on its website on Tuesday in Abuja, that the five-year bonds of ₦35 billion to mature in April 2023 was offered at 12.75 per cent. The seven-year […]
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The Academic Staff Union of Universities, ASUU, says it is ready to negotiate with government toward ending its one-week old industrial action. Its President, Prof. Biodun Ogunyemi, who was guest on TVC News Breakfast show on Tuesday, also advised government to establish an education bank for proper funding of universities. He regretted the attitude of […]
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Buoyed by the rising oil prices in the international market and increase in oil production, the federal government has expressed confidence that the Nigerian economy will record significant growth in the last two quarters of 2018, notwithstanding activities surrounding the upcoming elections. This sanguine expectation was further boosted by the fact that the seismic forces […]
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There are indications that the Federal Government will not accommodate proposals for the acquisition of vehicles and purchase of furniture in the 2019 budget. Also, the government had asked Ministries, Departments and Agencies not to submit proposals in the budget for the construction of office or residential buildings and equipping of non-critical offices. These are […]
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There was relief yesterday as a midnight agreement between labour and the federal government on the dispute over minimum wage for workers averted a nationwide strike that was scheduled to commence today. The agreement, which would see the nation’s workers receive a minimum pay cheque of N30,000, was reached among labour, Organised Private Sector (OPS) […]
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About 209 cases worth over ₦6 trillion are currently pending at the various zones of the Tax Appeal Tribunal across the country. The Permanent Secretary, Ministry of Finance, Mahmoud Dutse, said this at the inauguration of commissioners for the Tax Appeal Tribunal. The breakdown of the ₦6 trillion pending cases across the six geo-political zones […]
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Nigeria’s organized labour yesterday suspended its planned industrial action earlier slated for today, (Tuesday) just as a new national minimum wage was pegged at ₦30,000 by the Tripartite Committee set up by the Federal Government. Correspondent learned that the labour unions had extracted a firm commitment from the government to pay the ₦30, 000 it […]
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