FG Stops Purchase Of Vehicles
Federal Government has stopped what it called non-critical and administrative capital spending, including the purchase of vehicles. The Special Adviser to the President on Media and Publicity, Femi Adesina, disclosed this in a document tagged, “What you need to know about the Nigeria Economic Sustainability Plan” made available to journalists in Abuja on Thursday. The plan was developed by the Economic...
World Bank Approves Nigeria’s $750 Million Loan
The World Bank has approved a $750 million loan to the Federal government which is to be used to improve electricity supply in the country. In a statement released today Wednesday, June 24, the World Bank said the $750 Million loan is for the power sector recovery operation (PSRO) to achieve financial sustainability and enhance accountability in the sector. According to the...
FG, States, LGs Share ₦547bn As Federation Allocation For May
The Federation Accounts Allocation Committee on Wednesday at its virtual meeting shared to the three tiers of government a total sum of N 547. 309bn as federation allocation for the month of May 2020. FAAC’ s virtual meeting was chaired by the Permanent Secretary, Federal Ministry of Finance, Budget and National Planning, Mahmoud Isa - Dutse, according to a statement...
FG, States, LGs Share ₦547bn As Federation Allocation For May
The Federation Accounts Allocation Committee on Wednesday at its virtual meeting shared to the three tiers of government a total sum of N 547. 309bn as federation allocation for the month of May 2020. FAAC’ s virtual meeting was chaired by the Permanent Secretary, Federal Ministry of Finance, Budget and National Planning, Mahmoud Isa - Dutse, according to a statement...
Atiku Lied About Nigeria’s Debt Profile – Lai Mohammed
Lai Mohammed, minister of information and culture, says former Vice-President Atiku Abubakar is spreading a false and frightening report on the country’s debt profile. Atiku had raised concerns on the country’s rising debt profile. The former vice-president said according to the medium-term expenditure framework (MTEF) and fiscal strategy paper (FSP), Nigeria’s debt to revenue ratio was 99% in the first quarter of 2020. The...
Atiku Lied About Nigeria’s Debt Profile – Lai Mohammed
Lai Mohammed, minister of information and culture, says former Vice-President Atiku Abubakar is spreading a false and frightening report on the country’s debt profile. Atiku had raised concerns on the country’s rising debt profile. The former vice-president said according to the medium-term expenditure framework (MTEF) and fiscal strategy paper (FSP), Nigeria’s debt to revenue ratio was 99% in the first quarter of 2020. The...
“We’re Robbing Our Children To Pay For Our Greed” — Atiku Tackles FG On Rising Debt
Atiku Abubakar, the former vice-president, has again tackled the federal government on Nigeria’s rising debt profile, accusing it of “squandering the opportunities of future generations”. In an article on Tuesday, the former presidential candidate said the federal government should “drastically” reduce its expenditure to cushion the effect of the country’s high debt. Atiku quoted figures from the medium-term expenditure framework and...
“We’re Robbing Our Children To Pay For Our Greed” — Atiku Tackles FG On Rising Debt
Atiku Abubakar, the former vice-president, has again tackled the federal government on Nigeria’s rising debt profile, accusing it of “squandering the opportunities of future generations”. In an article on Tuesday, the former presidential candidate said the federal government should “drastically” reduce its expenditure to cushion the effect of the country’s high debt. Atiku quoted figures from the medium-term expenditure framework and...
Economic Crisis: Group Asks FG Not To Sack Workers
A group is known as The Alliance for Surviving COVID-19 and Beyond (ASCAB) has asked the federal government, FG not to use budget cuts as an excuse to sack workers. The federal government had revised the 2020 budget due to the crash in the price of oil and other effects of the coronavirus pandemic on the economy. In a statement, Adewale...
Budget Deficit May Trigger Fresh Recession – Finance Minister, Zainab Ahmed
With the deficit financing of the revised N10.509 trillion 2020 budget rising from N1.847 trillion to N4.563 trillion, the economy might be heading for another recession, the Minister of Finance, Budget and National Planning, Zainab Ahmed, has warned. She expressed the fear yesterday in Abuja during a session with the Senate Committee on Finance where heads of revenue-generating agencies made...
