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CBN Flaws Black Market Protagonists’ Stance On Naira Value, Retains MPR

The Central Bank of Nigeria (CBN) on Tuesday flawed the position of parallel market rates protagonists on real value of the nation’s currency, insisting that their pressure to devalue the Naira is not logical. The CBN Governor, Mr. Godwin Emefiele, made this vow at the end of the 2020 Monetary Policy Committee (MPC) meeting, in […]

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Senate Approves Buhari’s N148.14bn Refund Request To Five States

The Senate on Tuesday approved President Muhammadu Buhari’s request for a refund of N148,141,969,161.24 to Rivers, Bayelsa, Cross River, Osun and Ondo State Governments for projects executed on behalf of the Federal Government. The approval was sequel to the consideration of a report the Senator Clifford Ordia-led Committee on Local and Foreign Debts. Ordia, during […]

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FG Needs N500Bn Yearly To Upgrade Road Infrastructure – Fashola

The Minister of Works and Housing, Babatunde Fashola, on Monday said that the Federal Government would require a minimum of N500 billion yearly for the next three years to develop its 35,000 kilometres network of roads. The minister, who made the projection during an interactive chat with the Press Corps of the ruling All Progressives […]

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Adamawa Governor Presents N140Bn Budget Estimates to Legislature

Governor of Adamawa State, Alhaji Ahmadu Umaru Fintiri, on Monday presented a budgetary proposal for the sum of N140,034,404,440 to the State’s House of Assembly for consideration as the state’s 2021 fiscal budget estimates . Governor Fintiri, who said the proposal would consolidate the socio-economic developments that had been recorded by his administration, urged the […]

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Governor Makinde Proposes N266.64Bn Budget For 2021 Fiscal Year

Governor of Oyo State, Mr. Seyi Makinde, on Monday presented an Appropriation Bill of N266,644,273,305.04 to the State’s House of Assembly for consideration as budget for the 2021 fiscal year. The governor, during the budget presentation of the Bill tagged: “Continued Consolidation,” said the proposals in the income and expenditure components of the Bill derived […]

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Despite Recession, FG Rates Nigeria’s Economy High

The Federal Government has rated the Nigerian economic performance high despite contracting by -3.62% (year-on-year) in the third quarter of 2020, the worst recession recorded in over 30 years. The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, gave this rating on Monday in Abuja at the 26 edition of the Nigerian Economy […]

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Corruption: Lawan Advocates Adoption Of Technology In Revenue Collection

President of the Senate, Ahmad Lawan, has advised the Federal Government to explore the use of relevant technology for the purpose of revenue collection by its agencies, so as to prevent the diversion of public funds into private pockets. This was even as he pledged that National Assembly will expeditiously consider the Chartered Institute of […]

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African Oil Producing Countries Require Right Fiscal Regimes for Growth – Ayuk

As the international oil market’s volatility continues unabated following the lingering COVID-19 pandemic, Nigeria and other oil producing countries in Africa have been advised to develop fiscal regimes that ensure fair treatment for the state without burdening companies with unreasonable obligations on top of their project risks, local content requirements, and the expenses associated with […]

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Privatisation Has Great Potential To Bridge States’ Funding Gap – SEC

The Securities and Exchange Commission (SEC) on Tuesday harped on the enormous potential of the Privatisation programme as alternative funding source for sub-national governments’ development. The Director General of the Commission, Mr Lamido Yuguda, said at a webinar organised by the Nigerian Stock Exchange (NSE) in collaboration with the Nigeria Governors Forum (NGF) and the […]

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Dangote Urges OPS To Commit 1% Profit To Health Sector Funding

The Chairman, Aliko Dangote Foundation, Alhaji Aliko Dangote, has urged all operators in the private sector to commit one percent of their profits to fund the health sector challenges in Nigeria, to enable the country frontally tackle the lingering COVID-19 pandemic in the country. The African foremost industrialist, who canvassed the fiscal option while responding […]