….promises to refund past deductions Nigeria’s 36 state governors under the auspices of the Nigeria Governors Forum (NGF) on Tuesday disclosed that the Federal Government had agreed to stop further deductions from the State Governments’ federal accounts monthly allocations to offset Local Government Councils’ London/Paris Club debt obligations. The outgoing Chairman of NGF, Governor Aminu […]
The Federation Account Allocation Committee (FAAC) reported on Thursday that it shared a total sum of N655.932 billion in April 2023 from Federation Account revenue to the three tiers of government even as it stated that Excess Crude Account (ECA) dropped to $473,754.57 as of the date of its meeting in May this year. The […]
The Federation Accounts Allocation Committee (FAAC) on Tuesday disclosed that it shared a total sum of N590.546 billion to the three tiers of government as federation account allocation for the month of February, 2022. A statement by the Deputy Director, Ministry of Finance, Budget and National Planning, Mr. Tunde Oshundun, on behalf of the Director […]
The United States Agency for International Development (USAID) has announced an additional $10.6 million in development assistance to continue support for the goals outlined in a 2021 Development Objectives Assistance Agreement signed between the U.S. and Nigerian governments. The U.S’ agency stated that most of the new funding would be used to finance the Nigerian […]
President Muhammadu Buhari on Wednesday unveiled Nigeria’s National Development Plan 2021-2025 following the conclusion of the implementation of the nation’s Economic Recovery and Growth Plan (ERGP 2017-2020). The President made the National Development Plan 2021-2025 presentation shortly before the kick off of the virtual the Federal Executive Council (FEC) meeting held in the Presidential Villa, […]
The Federal Government on Tuesday said that arrangements were ongoing to ensure that fuel subsidy, which has been one of the challenges of public finance efficiency in Nigeria over the years is removed with a view to committing savings on it to critical areas that will improve the socio-economic wellbeing of ordinary Nigerians, especially the […]
The Federal Government on Monday outlines three-point reform agenda it considered critical to achieving sustainable socio-economic growth of the country. The Minister of Finance, Budget and Planning, Mrs. Zainab Ahmed, who shared her vision about the future of Nigeria during the opening session of the 27th Nigerian Economic Summit in Abuja, said that to realise […]
Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, on Friday confirmed that government’s fiscal measure relating to the administration of Excise Duties on carbonated drinks would start in January 2022 The minister, who gave this hint during the ‘Public Presentation and Breakdown of the Highlights of the 2022 Appropriation Bill’, said the imposition […]
Barely a week after the Central Bank of Nigeria (CBN) projected that Nigeria’s economy would record between 2.5% and 3% GDP growth by year end, JP Morgan, a global banking giant, has predicted that the economy may not record more than half of the apex bank’s projection, estimating that it may record a mere 1.5% […]
The Federal Government on Sunday projected that it expected Nigeria’s Gross Domestic Product (GDP) per capita to rise to $2,300 by the end of this year. The Minister of Industry, Trade and Investments, Otunba Niyi Adebayo, who gave the projection at the United States-Nigeria Investment Summit held in New York, noted that Nigeria’s GDP, which […]