President Muhammadu Buhari in the early hours of Tuesday signed the Federal Government of Nigeria’s N21.8 trillion 2023 budget into law following last week’s passage of the Appropriation Bill 2023 by the National Assembly. A statement by the Ministry of Finance, Budget and National Planning which was also confirmed by a media aide in the […]
The Nigeria Economic Zones Association (NEZA), the umbrella body of Free Trade Zones operators and enterprises in the country, has cautioned the National Assembly and government agencies not to take actions that are inimical to attracting $25 billion Foreign Direct Investments (FDIs) yearly to the country through the Special Economic Zones’ scheme. The association’s Executive […]
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 Tuesday appealed to the Federal Government to urgently approve a N300 billion Emergency Intervention Fund for rehabilitation of the collapsing critical roads in Niger State. The upper chamber of the National Assembly in its resolution during plenary pointed out that the intervention would support current government’s infrastructure rehabilitation efforts to support ease […]
Barely 24 hours after the President of the Senate, Senator Ahmad Lawan, expressed support for continued collection of the Value Added Tax (VAT) nationwide by the Federal Inland Revenue Service’s (FIRS’) in spite of the legal tussles between the agency and state governments over collection of the consumption tax, the Federal Government on Thursday also […]
The Lagos Chamber of Commerce and Industry (LCCI), a leading Organised Private Sector (OPS) group, on Tuesday picked holes in the provisions of the Nigerian Postal Services Bill 2021 recently passed by the Senate and charged the lawmakers to amend some its provisions in view of their negative implications for the courier services industry. The […]
The Senate on Wednesday approved a total of N1.678 trillion revenue target for the Nigeria Customs Service (NCS) for the 2021 fiscal year. The Upper Chamber also, in a news report by the News Agency of Nigeria (NAN), at the plenary approved a total expenditure of N257 billion for the Service, including retained earnings for […]
The Senate on Wednesday approved the sum of N11,352,457,101.70 as budget for Nigeria Police Trust Fund for the 2020 fiscal year. The approval was sequel to the consideration of the harmonized report of the Senate and House of Representatives Committee on Police Affairs. The implementation of the NPTF 2020 budget would lapse on the 30th […]
The Senate on Thursday passed a federal budget of N10.59 trillion for the 2020 fiscal year in keeping with its major legislative agenda of returning the country’s budget cycle to a more predictable one as well as re-positioning the nation’s economy on the path of sustainable growth.. The passage of the annual 2020 budget before […]
The Senate on Wednesday during plenary passed the Public Procurement Act 2007 amendment bills even as it had scheduled the passage of the 2020 Appropriation Bill for Thursday, December 5, 2019 The passage of the Public Procurement bills by the upper chamber was sequel to presentation and consideration of the report of the Senate Committee […]