BudgIT, one of the frontiline civic society organisations promoting transparency, accountability and effective service delivery in Nigeria, has raised some concerns over the proposed 2024 Appropriation Bill now before the National Assembly. In a statement issued by the organization on its observations in the fiscal document, it lamented that the President Bola Tinubu’s administration had […]
……Proposes N20.51Trn Budget For Fiscal 2023 President Muhammadu Buhari said on Friday that oil subsidy would be discontinued in fiscal 2023 to ensure improved efficiency in public finance and enable the administration to commit savings from the subsidy to other critical sectors with huge potentials to ameliorate the current socio-economic hardships of ordinary citizens […]
….records N3.09trn deficit in 2022 budget in four months The Federal Government has proposed a budgetary provision of N6.72 trillion for fuel subsidy in the fiscal year 2023 even as it reported that from January to April this year N3.09 trillion was recorded as deficit in the 2022 budget. The Minister of Finance, Budget and […]
President Muhammadu Buhari on Thursday disclosed that the Federal Government’s share of oil revenue as at July this year totalled N570.23 billion, representing 51 percent shortfall from the budgetary target for the seven months period. Buhari gave this hint in his address on the proposed N16.39 trillion Appropriation Bill 2022 at the National Assembly. He […]
The Senate on Wednesday passed the 2022-2024 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) ahead of the expected laying of the 2022 Appropriation Bill before the joint session of the two chambers of the Legislature by President Muhammadu Buhari. The passage of the 2022-2024 MTEF/FSP was sequel to the consideration of the report […]
The Director General, Budget Office of the Federation, Mr. Ben Akabueze, has hinted of plans by the Federal Government to capture yearly budgets of Government-Owned Enterprises (GOEs) in the federal budget as part of its efforts to streamline the fiscal system. The proposed plan, if consummated, will stop the current practice of sending separate budgets […]