The Minister of Budget and National Planning, Udoma Udo Udoma, on Wednesday said there was no cause for alarm on the country’s rising debt profile, saying it is sustainable. Udoma, who gave the assurance after the Federal Executive Council (FEC), reiterated government’s stance on the nation’s increasingly worrisome debt stock over which many analysts have […]
Delegates to the Economic Commission for Africa (ECA) Conference of Ministers (COM2019) which rounded off their week-long deliberations on how to stimulate growth in Africa today in Marrakesh, Morocco, have called on African governments to build more resilient economies in order to have the resources to meet Africa’s developmental goals and targets over the next few […]
Barely 24 hours after the Executive accused the Legislature of delaying the 2019 Appropriation Bill, President Muhammadu Buhari has communicated his intention to present the Bill to the joint session of the National Assembly next Wednesday. Speaker of the House of Representatives, Hon. Yakubu Dogara, read the President’s letter on Thursday at the plenary of […]
The Minister of Budget and National Planning, Senator Udoma Udoma, at the weekend said that government had revived the Export Expansion Grant (EEG) and Export Development Fund (EDF) schemes with N13.28 billion in the 2018 budget to facilitate export of Made-in-Nigeria goods to the international markets. Udoma was quoted in a statement issued by his […]
The Executive Secretary, Nigerian Shippers Council (NSC), Hassan Bello, at the weekend disclosed that Nigeria lost about $25 billion as opportunity loss to foreign ship owners between 2015 and 2017 due to absence of a national fleet. Bello, who made the disclosure when the Nigerian Fleet Implementation Committee paid a courtesy visit to the Minister of […]
The Federal Executive Council on Wednesday approved the 2019-2021 Medium-Term Expenditure Framework and Fiscal Strategy Paper in furtherance of the Federal Government’s efforts to consolidate on the modest mileage recorded on the nation’s economic recovery drive. In addition, the council approved also the government’s proposed N8.73 trillion budgetary provisions for the 2019 fiscal year. The […]
The Federal Government on Thursday indicated its plan to propose a N8.6 trillion Appropriation Bill to the National Assembly for consideration as 2019 budget. When analysed year-on-year, the proposed budgetary provision is lower by about N500 billion to the N9.1 trillion approved budget for the current fiscal year. It would be recalled that the National […]
The International Monetary Fund (IMF) on Thursday identified vulnerability to foreign debt as one of the major threats to Nigeria’s and other Sub-Sahara African countries’ economic growth in the years ahead. The IMF Director in charge of Africa, Mr Abebe Selassie, who listed key challenges to growth in Africa, specifically noted that the countries’ debts […]
The Minister of Budget and National Planning, Sen. Udoma Udo Udoma, on Wednesday put the total capital budget releases from the 2018 budget at a total sum of N460 billion. The minister disclosed the figure while fielding questions from journalists at the sidelines of the ongoing IMF and World Bank Group Annual Meetings in Bali, […]
The Federal Government on Tuesday said that about 10.07 million Nigerians had been socio-economically reached through the ongoing Social Investment Programmes (SIP) component of the Economic Recovery and Growth Plan (ERGP). Giving this figure at a media briefing held in his ministry on the activities lined up for the upcoming 24th Nigerian Economic Summit (NES), […]