The Statistician-General of the Federation, Dr. Yemi Kale, has attributed the delay in the publication of Nigeria’s unemployment figures on timely basis to paucity of funds. Kale said that official statistics producing and reporting agency, the National Bureau of Statistics (NBS), could not complete the unemployment reports for some quarters now due to budgetary constraints, […]
The Senate Committee on Gas disclosed on Wednesday that it discovered an illegal withdrawal of $1,151,609 from the dividends accounts of the Nigerian Liquefied Natural Gas (NLNG) by the Nigeria National Petroleum Corporation (NNPC). The allegation is coming on the heels of a recent similar accusation against the NNPC’s Group Managing Director, Dr. Maikanti Baru, […]
The Accountant-General of the Federation (AGF), Ahmed Idris, on Sunday said that the Federal Government incurred a total amount of N16 billion as transaction costs on the Treasury Single Account (TSA) since its implementation commenced two years ago. A statement issued by the Director, Press Unit of the AGF’s Office, Mr Johnson Oise, indicated that […]
President Muhammadu Buhari on Friday described the late passage of federal budgets as undesirable to sustained efforts to enhance the nation’s fiscal system and by implication, the attainment of the socio-economic goals enunciated in the budgets. The President , who expressed his views on the fiscal challenge when he received a delegation of Eminent and […]
The Ministry of Budget and National Planning has expressed some concerns about the nation’s revenue situation, saying that there is the urgent need to improve the efficiency of revenue collection to avert plunging the country into debt trap. The Director of Budget in the Ministry, Ben Akabueze, who raised the concern on Wednesday disclosed, for […]
The Federal Executive Council on Wednesday approved the 2019-2021 Medium-Term Expenditure Framework and Fiscal Strategy Paper in furtherance of the Federal Government’s efforts to consolidate on the modest mileage recorded on the nation’s economic recovery drive. In addition, the council approved also the government’s proposed N8.73 trillion budgetary provisions for the 2019 fiscal year. The […]
India’s projected Goods and Services Tax (GST) collections for the current fiscal year have not been met by the tax authorities, thereby compelling the government to jack up the country’s direct tax-GDP ratio. Speaking on the development on CNBC TV, national tax leader at Ernst & Young (EY), Sudhir Kapadia, pointed out that if the direct […]
South African new Finance Minister, Tito Mboweni, will on Wednesday seek 50 billion rand ($3.5 billion) for a stimulus package as the country contends with fiscal challenges in 2018 budget implementation Mboweni, the former central bank governor who took over the finance ministry barely two weeks ago after Nhlanhla Nene resigned, has to do that […]
The Federal Government on Thursday indicated its plan to propose a N8.6 trillion Appropriation Bill to the National Assembly for consideration as 2019 budget. When analysed year-on-year, the proposed budgetary provision is lower by about N500 billion to the N9.1 trillion approved budget for the current fiscal year. It would be recalled that the National […]
The Delta State Governor, Dr Ifeanyi Okowa, on Wednesday presented budget estimates of N367, 095,083,451:00 billion for the 2019 fiscal year to the state’s House of Assembly. Speaking on the Appropriation Bill christened ‘Budget of Sustainable Growth’, Okowa said N157 billion, representing 42.79 percent would be committed to recurrent expenditures while N209.9 billion, or 57.21 […]