Budgeting Economy News Extra Infrastructure & Capital Projects Latest News Oil & Gas Political Economy Power/Electricity Revenue

FEC Approves N13.08Trn Budget Estimate For 2021

The Federal Executive Council (FEC) has approved a budget estimate of N13.08 trillion for the 2021 fiscal year. The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, who disclosed this to State House correspondents at the end of the council’s meeting on Wednesday, explained that the budget proposal was designed to enable the […]

Budgeting Economy News Extra Latest News National Assembly Political Economy

FEC Approves 7.2% VAT Rate, N10.07Trn Budget Proposal For 2020

Determined to correct the structural defects in Nigeria’s fiscal regime, especially the structural imbalances in oil and non-oil revenue collections, the Federal Executive Council (FEC) on Wednesday approved a hike in the nation’s Value Added Tax rate to 7.2 per cent, up from the current five per cent rate. The Minister of Finance, Budget and […]

Economy News Extra Latest News

Buhari Gives Minister 7-Day Deadline To Submit Performance Report

President Muhammadu Buhari on Wednesday directed ministers in his cabinet to submit status reports on policies, programmes and projects being implemented by Ministries, Departments and Agencies (MDAs). The directive, which was given through a circular to this effect issued by the Secretary to the Government of the Federation (SGF), Boss Mustapha, also requested members of […]

Economy News Extra Investments/Capital Market Latest News

FEC Approves $2.9Bn Eurobond Issuance To Fund Budget

The Federal Executive Council on Wednesday formally approved that the proposed plan by government on the issuance of $2.9 billion Eurobond and other securities from the international capital market should be implemented. The Minister of Finance, Zainab Ahmed, disclosed this to State House correspondents at the end of the council’s weekly meeting at the Presidential […]

Latest News Power/Electricity Transportation

FEC Approves N35.8Bn For Roads, Power Projects

The Federal Executive Council (FEC) on Wednesday approved contracts totalling about N35.8 billion for roads, bridges and power at the end of its meeting presided over by President Muhammadu Buhari in Abuja. The Minister of Power, Works and Housing, Mr. Babatunde Fashola, gave this hint to State House correspondents at the end of the Council’s […]