President of the Senate, Ahmad Lawan, on Monday said that the Petroleum Industry Bill (PIB) to be introduced by the National Assembly for consideration next year was not aimed at frustrating the operations of International Oil Companies (IOCs) in Nigeria. Lawan made this known when he hosted the French Ambassador to Nigeria, Jerome Pasquier, at […]
The 2020 Appropriation Bill on Tuesday scaled second reading on the floor of the Senate. Consequently, upper chamber adjourned its plenary until 29th November to enable government Ministries, Departments and Agencies (MDAs) defend their budget proposals before the Committees of the Senate. The Senate President, Ahmad Lawan, in his concluding remarks during the debate on […]
President of the Senate, Ahmad Lawan, said on Friday that the National Assembly would not allow ministers or heads of Ministries, Departments and Agencies (MDAs) of government to frustrate its determination to pass the 2020 Appropriation Bill proposals by December this year. Lawan, who gave the assurance the unveiling of the Legislative Agenda of the […]
The Senate today passed the 2020-2022 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) submitted to it by President Muhammadu Buhari last week, raising the 2020 budgetary proposal by N727 billion and the oil benchmark by $2 per barrel. The approval was sequel to the presentation and consideration of the Senate Committee on Finance […]
For failure to amend the Production Sharing Contract (PSC)Act of 1993, Nigeria is estimated to have lost about US $21 billion over the past 20 years of the implementation of the Act in the nation’s hydrocarbon resources industry. Senator Ifeanyi Ubah made this disclosure when he presented a motion titled: “Urgent need to review and […]
President Muhammadu Buhari on Wednesday submitted the Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) to the National Assembly, hinging the attainment of the economic development targets projected in the documents on improved tax revenue and other fiscal performance parameters. The President stated that that key developments of the global and domestic environments […]