The organized labour on Wednesday gave the Federal Government two-week ultimatum for finalizing the ongoing discussions on the New Minimum Wage to avoid industrial crisis. The labour leaders, who are members of the Minimum Wage Committee at a joint news conference in Lagos, charged the government to ensure that the committee concludes its work within […]
Over the past two months, developments in the nation’s domestic economy such as the recent Central Bank of Nigeria (CBN) and Peoples Bank of China’s (PBoC’s) currency sawp and lingering political economic crisis characterized by the lingering Executive-Legislature face-off on critical funding issues, have continued to elicit reactions from stakeholders from the issues’ cost-benefit analysis […]
Despite Federal Government’s efforts to block leakages in the nation’s public finance system and conserve funds for development, Nigeria’s external debt profile has continued to rise since 2015, indicating that most projects and programmes are being funded through borrowing. A report by the Debt Management Office (DMO) showed that the nation’s external debt profile, which […]
The Healthcare Providers’ Association of Nigeria (HCPAN), on Wednesday demanded that federal and state governments should show more commitment to healthcare services nationwide. The position of the group was expressed by the National President of the association, Dr Oluwole Sanda, during an ordinary meeting organised by the association with the theme ‘Fusing the Various Interests […]
The Debt Management Office (DMO) on Tuesday disclosed that the Federal Government had sourced about N410 billion funding from the domestic financial market to finance the 2018 capital budget. According to the agency, out of the borrowed funds, about $3 billion was raised through Eurobond to refinance maturing domestic debts as a strategic option of […]
A coalition of Civil Society Organisations (CSOs) has called on the Federal Government to collapse the Excess Crude Account, ECA, and 0.5 percent stabilization account into the Sovereign Wealth Fund (SWF) The group gave this advice at a roundtable which focused on Savings and Stabilisation Mechanism for Nigeria organized by one of them – the […]
The latest audit report on Federal MDAs’ salaries and emoluments has indicated that a total sum of N195.94 billion was overpaid as personnel costs to employees enrolled on the Integrated Personnel and Payroll Information System (IPPIS) in 2016. The anomaly occurred despite the IPPIS’ acclaimed robustness and capacity to prevent frauds in public finance The […]
The Debt Management Office (DMO) yesterday set a maximum limit of $6.25 billion (about N1.906 trillion) borrowing for the Federal Government this fiscal year. The Office, in its 2017 Report of the Annual National Debt Sustainability Analysis report published on Wednesday stated that the $6.25 billion was proposed to be sourced from both the domestic […]
Tracka, a transparency platform, which allows citizens to collaborate, track and give feedback on public projects in their communities is expanding to Abuja and Nasarawa state. A statement issued on the latest initiative of BudgIT by its Communication Lead, Abiola Afolabi, indicated that Tracka, which already had presence in 22 States, was scaling its reach […]
The Auditor-General for the Federation, Anthony Ayine, has queried 308 Ministries, Department and Agencies (MDAs) over N149.5 billion extra-budgetary spending in fiscal year 2016. According to the 2016 Annual Report of the Auditor-General for the Federation, which was submitted to the National Assembly in June vide a letter wit reference number C/AR.2016/CONF/VOL.1/01, the Auditor General […]