Budgeting Economy News Extra Latest News National Assembly

Senate Passes N8.91Trn 2019 Appropriation Bill

The Nigerian Senate on Tuesday passed the 2019 Appropriation Bill after months of rigorous deliberations on the proposal sent by the Executive in December 2018. The figure is higher than the proposed sum of expenditure President Muhammadu Buhari presented to the joint session of the national assembly on December 19 by N86 billion. The passage […]

Banking Latest News National Assembly Tax

FIRS Seeks CBN’s Support On Foreign Firms’ e-VAT Payments

The Federal Inland Revenue Service (FIRS) has indicated its intention to collaborate with the Central Bank of Nigeria (CBN) to track Value Added Tax (VAT) payments made electronically by foreign entities not registered in the country. This is one of the strategies being considered by the revenue agency in a document it submitted to the […]

Budgeting Economy News Extra Latest News National Assembly Professionals & HR Devt.

President Buhari Signs National Minimum Wage Bill

President Muhammadu Buhari on Thursday assented to the N30,000 National Minimum Wage Bill, thereby ending lingering controversies that had trailed the bill over the past months. A source in the Presidency who confirmed that the President signed the bill into law this afternoon, said that the Senior Special Assistant to the President on National Assembly […]

Economy News Extra Latest News National Assembly Transportation

Senate Throws Out Electric-Powered Automobiles Bill

The Senate on Wednesday during plenary rejected a bill proposing the complete phase out of petrol-powered cars in Nigeria and adopting the electric-powered automobiles. The sponsor of the bill, Senator Ben Murray-Bruce, had while presenting the draft legislation argued that it would be cheaper to use electric-powered cars than the current petrol-powered automobiles cars in […]

Economy News Extra Latest News National Assembly

Presidency Clarifies Special Economic Zones’ Creation Plan

The Presidency on Monday made clarifications on why the President Muhammadu Buhari-led administration mulled the plans to establish  the Special Economic Zones in the country as part of its efforts to fast-track Nigeria’s industrial development. The clarification came on the heels of recent misrepresentation about the purpose of the zones being peddled in the public, […]

Budgeting Latest News National Assembly

Again, Senate Appropriation Committee Failed To Lay Budget Report

For the second time within 10 days, the Senate Committee on Appropriation on Thursday failed to lay the report of the 2019 Appropriation Bill, with budgetary proposal totalling N8.83 trillion, before the Senate in plenary. Findings indicated that the laying of the report was neither listed on the Order Paper for day, nor was it […]

Budgeting Economy News Extra Latest News National Assembly

Senate Defers Passage Of 2019 Appropriation Bill Till April 16

Apparently overwhelmed by the political brinkmanship associated with the election of leaders for the 9th National Assembly, the Senate on Tuesday could not conclude deliberations on the 2019 Appropriation Bill and postponed its passage by two weeks. The upper legislative chamber stated that it adjourned plenary till April 9 to allow its Committee on Appropriation […]

Budgeting Economy News Extra Latest News National Assembly

President Buhari Presents N8.83Trn Appropriation Bill To N/Assembly

President Muhammadu Buhari on Wednesday presented a N8.83 trillion Appropriation Bill to the joint session of the National Assembly for the 2019 fiscal year. According to the president, the budget is predicated on $68 per barrel of oil benchmark at 2.3 million litres production per day, a GDP growth rate of 3.01 percent and inflation […]

Budgeting Latest News National Assembly Political Economy

Buhari Rejects N/Assembly’s Approval Of N488.7Bn Refund To States

President Muhammadu Buhari on Tuesday rejected the National Assembly’s approval for refund of N488.7 billion to state governments for projects they executed on behalf of the Federal Government in their domains. The President, who communicated his decision on the matter through a letter read by the Senate President, Sen. Bukola Saraki, at plenary on Tuesday, […]

Budgeting Economy News Extra Latest News National Assembly

National Assembly To Receive 2019 Appropriation Bill Tomorrow

The Senate on Tuesday resolved to hold a joint session with House of Representatives on Wednesday, December 19,  for President Muhammadu Buhari to present the 2019 Appropriation Bill, despite the ongoing industrial action of workers. The Senate Leader, Senator Ahmad Lawan, had at plenary moved a motion for the presentation of the bill by the […]