BudgIT, a civic organization that applies technology to intersect citizen engagement with institutional improvement, to facilitate societal change, has decried what it termed the masking and insertion of several opaque items in the 2018 budget with little or no bearing on the economy by the National Assembly. The organisation stated in its release issued today […]
The Lagos Chamber of Commerce and Industry (LCCI) on Thursday projected that the late passage of the 2018 Appropriation Bill into law would cost reduce the performance of the capital budget by about 13 percent and impact negatively on the nation’s Gross Domestic Product (GDP). Making this forecast during the formal inauguration of the Association […]
The Federal Government is exploring offshore debt option amongst other fiscal measures aimed at ensuring that the 2018 budget deficit gap is minimized. Specifically, the government is planning to raise $2.8 billion loans from overseas creditors with a view to reducing the cost of borrowing to the minimal level. The Director General of the Debt […]
Worried by the spate of opacity characterising most states’ budget details in the country, BudgIT, a civic tech transparency organisation working on holding government accountable and creating an active citizenry to improve governance, has charged Nigerian citizens to demand from their state governments details of their yearly budgets. The organisation’s charge was sequel to the […]
The Federal Government has inaugurated the Technical Working Group for the Nigeria Aid Transition Plan (TWG-NATIP), with a mandate to develop a comprehensive strategy for addressing the funding gap that may arise with the scaling down of development partners’ funding of projects in the country. Budget and National Planning Minister, Senator Udoma Udo Udoma, who […]
A Presidential aspirant, Prof. Kingsley Moghalu, on Thursday described the lingering accusations and counter-accusations between the Executive and the Legislature over the 2018 Appropriation Bill as nothing but a demonstration of leadership ineptitude in budgetary process. Moghalu, who recalled the prolonged controversies that had trailed the Bill over the past seven months, pointed out that […]
For the umpteenth time, the National Assembly has justified the basis of its adjustments of the proposals in the 2018 Appropriation Bill which raised the N8.60 trillion submitted by the Executive to N9.12 trillion when the Bill was passed. The legislators hinged their action on the proposed budget on its constitutionality and the need to […]
After about two weeks of speculations about when President Muhammadu Buhari will sign the 2018 Appropriation Bill, the President today signed the N9.12 trillion bill into law. The National Assembly had raised the initial N8.6 trillion estimates proposed by the Executive and laid before the joint session of the Legislature by the President on November […]
The Minister of Finance, Mrs. Kemi Adeosun, today confirmed that total capital cost released to Ministries, Departments and Agencies (MDAs) for the 2017 federal budget totalled N1,580,270,755,084.44 Adeosun made this known through a statement issued by the Director (Information) in her ministry, Hassan Dodo, in Abuja. She stated that the total capital releases for 2017 […]
There are strong indications that the Federal Government surpassed previous years’ capital budget implementation in 2017 as reports indicated that it achieved about 73.5 percent of the capital expenditure for the year. In the year under review, a total of N2.029 trillion was allocated to capital projects, excluding FGN Special Intervention Projects, out of which […]