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The Federal Government has released N1.58 trillion as capital expenditure to Ministries, Departments and Agencies (MDAs), from the 2017 budget.
The Minister of Budget and National Planning, Udoma Udo Udoma, has explained that the federal government had been unable to achieve full implementation of the 30 per cent capital components of the 2016 and 2017 budgets because of high recurrent burden and dwindling revenue.
The Senate on Tuesday challenged the Minister of Finance, Kemi Adeosun, on Federal Government’s insistence on passing the 2018 Budget in January when less than 50 per cent of the 2017 budget was only implemented.
The Department of Petroleum Resources (DPR) officials, yesterday, disclosed to members of the Senate Committee on Petroleum (Upstream), that they intend to spend N355 million for foreign trips in the 2018 fiscal year.
Minister of Transportation Rotimi Amaechi on Monday said that the ministry achieved only 16.5 per cent performance in the implementation of the 2017 Budget.
This development, they argued, could affect the nation’s economy as quantum of over 180 million Nigerians who could benefit from the contract may be sidelined in the process.
The Presidency has given indication that the federal government may not be able to meet the huge financial obligation the striking Academic Staff Union of Universities (ASUU) demands.
The Auditor General of the Federation, Mr. Anthony Ayine, has called on the Senate to speedily pass the Audit Autonomy Bill currently before it to strengthen the present administration’s anti-corruption fight of enthroning transparency, accountability and good governance.
Acting President Yemi Osinbajo has said that the N7 trillion federal budget for 2017 is not sufficient to facilitate the desired economic development in the country, hence the government was making the investment climate profitable and easy for private sector involvement.
The Director General, Budget Office of the Federation, Mr Ben Akabueze, on Monday said the 2018 Executive Budget proposal would be submitted to the National Assembly in October.
Samuel Ortom, governor of Benue state, has urged indigenes to place the interest of the state above any factor capable of causing disunity and retrogression.
Italian actress and sexual abuse campaigner Asia Argento denied Tuesday having had a sexual relationship five years ago with an underage teen, calling the allegations part of “a long-standing persecution”.
Bosnia and Herzegovina midfielder Miralem Pjanic has signed a new five-year deal with Juventus.
President Pierre Nkurunziza has warned that whoever attempts to overthrow democratic institutions in Burundi, will himself fall in the trap he would have laid.
Venezuela has devalued its currency — the bolivar — by 96 percent under a new exchange rate announced by the central bank on Tuesday.
Kirikiri Lighter Terminal Command of the Nigeria Customs Service has intercepted a 40ft container with various goods valued N12.03 billion due to false declaration.
Israel closed its only crossing for people with the Gaza Strip on Sunday except for humanitarian cases after border clashes, the latest tightening of its blockade on the Palestinian enclave.
The multimillion dollar floating dockyard owned by the Nigerian Maritime Administration and Safety Agency (NIMASA) which arrived the country recently will save the country millions of dollars in capital flight once operational noting that efforts are being made to create enabling environment for the growth of indigenous participation in shipping.
The Lagos State chapter of the People’s Democratic Party (PDP) has decried what it called the “frequent delays” in the delivery of the state light rail project.
Arsenal have confirmed that Joel Campbell has left the club to join Serie A side Frosinone on a permanent deal.