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2020 Appropriation Bill Scales Second Reading In Senate

The 2020 Appropriation Bill on Tuesday scaled second reading on the floor of the Senate. Consequently, upper chamber adjourned its plenary until 29th November to enable government Ministries, Departments and Agencies (MDAs) defend their budget proposals before the Committees of the Senate. The Senate President, Ahmad Lawan, in his concluding remarks during the debate on […]

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Buhari Seeks Senate’s Approval of N10.69Bn Promissory Note For Kogi State

President Muhammadu Buhari on Tuesday asked the Senate to consider for approval N10.069 billion Promissory Note for Kogi State, being outstanding claims due the state government on projects executed by it on behalf of the Federal Government. Also, the President also forwarded the Deep Offshore and Inland Basin Production Sharing Contracts (PSC) Amendment Bill 2019 […]

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New Tax Incentives Underway for MSMEs – FG

The Minister of Finance, Budget and Planning, Mrs. Zainab Ahmed, on Monday hinted of fiscal plans by the Federal Government, in form of tax incentives that will enable Micro, Small and Medium Enterprises (MSMES) in the country to minimize operational costs, post more profits  and by implication, be able to contribute to the nation’s revenue […]

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Why We Are Amending PSC Act – Senator Lawan

The President of the Senate, Ahmad Lawan on Monday said that the current move by the National Assembly to amend the Production Sharing Contract (PSC) Act was necessary for the country in order to generate more revenues from oil and gas endowments. The lawmaker made the clarification while declaring open a public hearing on the […]

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Buhari Bars Ministers, Others From Foreign Trips Over 2020 Budget

President Muhammadu Buhari late Friday evening ordered that Ministers and heads of government agencies should not travel overseas for now as a fiscal imperative for the timely consideration and final passage of the 2020 Appropriation Bill by the National Assembly. The Presidential directive was contained in a statement signed by Mr. Willie Bassey, Director in […]

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Senate Restates Commitment To Budget 2020 Passage By December

President of the Senate, Ahmad Lawan, said on Friday that the National Assembly would not allow ministers or heads of Ministries, Departments and Agencies (MDAs) of government to frustrate its determination to pass the 2020 Appropriation Bill proposals by December this year. Lawan, who gave the assurance the unveiling of the Legislative Agenda of the […]

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Senate Begins Deliberations On 2020 Appropriation Bill

The Senate on Wednesday commenced debate on the N10.33 trillion Appropriation Bill 2020 presented by President Muhammadu Buhari a day earlier to the National Assembly. The proposed budget elicited comments from the lawmakers on its different aspects, particularly the revenue projections and their feasibility as well as the capital budget figures. Some of the lawmakers […]

Budgeting Economy News Extra Latest News National Assembly Oil & Gas

Senate Begins Deliberations On PSC Act Amendment Bill

The Senate on Tuesday flagged off debate on the proposed amendments of the provisions of the Production Sharing Contract (PSC) Act. The bill titled “Deep Offshore and Inland Basin Production Sharing Contract 2004 (amendment) Bill 2019” passed the second reading at plenary session and was subsequently referred to the Senate Committees on Petroleum (Upstream) and […]

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Senator Lawan Advocates Improved Local Contents In Public Projects

President of the Senate, Senator Ahmad Lawan has canvassed the need for improved local contents in all engineering projects undertaken in the country. The lawmaker, who made the remarks late Thursday spoke in Abuja at a book launch on ‘Engineering and Sustainable Rural Development In Nigeria’ authored by Engineer Ahmed Amshi, expressed his belief in the […]

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Senate Raises Budget 2020 Proposal By N727Bn

The Senate today passed the 2020-2022 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) submitted to it by President Muhammadu Buhari last week, raising the 2020 budgetary proposal by N727 billion and the oil benchmark by $2 per barrel. The approval was sequel to the presentation and consideration of the Senate Committee on Finance […]