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Appropriation Act

Zainab Ahmed, the minister of finance, budget and national planning, says state and local governments share some of the responsibility to fix roads in Nigeria.

Nigeria slashes oil benchmark to $30 per barrel

The Federal Government on Wednesday proposed the reduction of oil benchmark, upon which the 2020 budget was predicated, from $57 to $30 per barrel.
President of the Senate, Ahmad Lawan, disclosed on Tuesday that the Senate may next week consider the report of an Ad-Hoc Committee on security challenges with a view to finding solutions to Nigeria’s security problems.

Senate wants 2020 budget reviewed as oil prices crash amidst coronavirus outbreak

The Senate, on Tuesday, said the review of the 2020 budget passed by the National Assembly has become inevitable as a result of tumbling oil prices amidst the coronavirus outbreak.
President of the Senate, Ahmad Lawan, disclosed on Tuesday that the Senate may next week consider the report of an Ad-Hoc Committee on security challenges with a view to finding solutions to Nigeria’s security problems.

Oil price: Senate sets up joint committee over 2020 budget

The Senate on Tuesday constituted a joint committee to liaise with the Executive over the dwindling international oil price as it affects the implementation of the 2020 Appropriation Act.
Sonny Echono

Official: N86 billion earned allowance paid to lecturers in seven years

The Federal Government has revealed that the sum N86 billion has been paid to members of academic unions of the tertiary institutions as earned academic allowances between 2013 to 2019 financial years.
Director of Information, National Assembly Abuja, Rawlings Agada, has said the sum of N37 billion, approved for the renovation of the National assembly complex may not be enough for the work.

National Assembly urged to strengthen oversight on defence sector

Civil Society Legislative Advocacy Centre (CISLAC) has urged the National Assembly to strengthen its legislative oversight on defence in order to restore integrity, reduce leakages and promote accountability in the defence and security sector.
Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit asking the Federal Capital Territory (FCT) High Court to- “declare the life pension edict-law 2019, passed by the Abuja Municipal Area Council (AMAC) null and void.

IGR: CSO petitions AMAC legislators, wants council chairman probed

A Civil Society Organization (CSO) under the aegis of Civil Society for Human Rights and Rehabilitation has petitioned the legislative arm of Abuja Municipal Area Council to investigate alleged infractions committed by the chairman of the council, Hon. Abdullahi Adamu Candido.

DMO: Nigeria public debt stands at N26.2 trillion

The Debt Management Office (DMO) says the total public debt as at September 2019 stood at N26.215 trillion.
President Muhammadu Buhari on Monday signed the finance bill into law.

New VAT rate takes off as President Buhari signs Finance Bill into law

The increase of the Value Added Tax (VAT) rate from 5 per cent to 7.5 per cent has taken effect following the signing into law the Finance Bill, 2019, by President Muhammadu Buhari on Monday.
Director of Information, National Assembly Abuja, Rawlings Agada, has said the sum of N37 billion, approved for the renovation of the National assembly complex may not be enough for the work.

Court asked to stop federal government from spending N37 billion to renovate National Assembly...

The Socio-Economic Rights and Accountability Project (SERAP), BudgIT, Enough is Enough (EiE) and 583 concerned Nigerians have filed a lawsuit asking the Federal High Court, Abuja to “restrain and stop President Muhammadu Buhari and Mrs Zainab Ahmed, Minister of Finance, Budget and National Planning from releasing N37 billion allocated for the renovation of the National Assembly complex to the Federal Capital Development Agency and the National Assembly until an impact assessment of the spending is carried out.”
Abubakar Malami

2020 budget will gulp bulk of looted funds recovered

There were indications on Tuesday that paucity of funds available to the Federal Government to meet infrastructural needs, especially the implementation of the 2020 budget when passed, may compel the government to channel most of the funds so far recovered through its anti-graft policy into the budget.
Prof. Mahmood Yakubu, the Chairman, Independent National Electoral Commission (INEC)

Mahmood Yakubu: INEC followed 2019 budgetary provision despite pressure

Mahmood Yakubu, chairman of the Independent National Electoral Commission (INEC), says the commission followed the 2019 budgetary provision despite pressure to accommodate some of its activities.
Abubakar Malami

AGF demands release of 2.5% recovered assets

Attorney-General of the Federation, Abubakar Malami on Wednesday called for the approval of 2.5 per cent as requisite commission arising from recovery of off-shore stolen assets from the country.

Oil firms at $59 as US, China tariff hike wanes

Oil prices rose in highly volatile trade on Tuesday in the wake of expectations of a drawdown in the United States (U.S.) crude inventories.
Debt Management Office (DMO)

Nigeria’s second Sovereign Green Bond oversubscribed by 220 percent

A statement from the Debt Management Office (“DMO”) on Thursday said: “The proceeds of the Green Bond will be used to finance projects in the 2018 Appropriation Act, which will contribute to Nigeria’s commitments to the Paris Agreement on Climate Change.”

House of Reps condemn federal government department’s ‘copy and paste’ budget

The House of Representatives’ Committee on Urban Development and Regional Planning on Thursday condemned the untidiness and errors in the 2019 budget proposal presented by the Urban and Regional Development of the Federal Ministry of Power, Works and Housing.

ICPC begins probe of ministries, departments, agencies

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has confirmed that it had commenced probe of federal government parastatals.
Isiaka Abdulrazaq

NNPC: We’ve right to make withdrawals from NLNG dividend account

The Nigerian National Petroleum Corporation (NNPC) insists there is nothing illegal about the withdrawals made from Nigerian Liquefied Natural Gas (NLNG) Dividend Account

NNPC threatens court action over withdrawal of $1.05 billion

Nigerian National Petroleum Corporation (NNPC) threatens to seek legal interpretation on whether it has right to withdraw funds from Nigeria LNG Dividend Account without the approval of National Assembly

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The Nigeria Governors’ Forum (NGF) and the Federal Government have commenced a Human Capital Development (HCD) plan towards moving 24 million Nigerians out of poverty before 2030.

Nigerian governors to meet over coronavirus second wave as schools re-open

The Nigerian Governors Forum on Monday said it will meet on Wednesday to chart a way out of the second wave of the pandemic as schools reopen across the country.
US President-elect Joe Biden (C) with his wife Jill Biden and members of their family salute the crowd on stage after delivering remarks in Wilmington, Delaware, on November 7, 2020

Meet the Bidens: America’s new ‘first family’

Biden has made his family a major focus throughout his career, and his 2020 presidential campaign thrust them fully into the spotlight — with some members causing controversy but others breaking barriers.
A member of the Jigawa state house of assembly representing Kafin-Hausa constituency, Hon. Adamu Babban Bare (APC) is reported dead.

Jigawa assemblyman Babban Bare passes on

The Chairman House Committee on information, Hon. Aminu Zakari Tsubut, who disclosed the news in Dutse, said the house received with great shock the demise of one of their patriotic and selfless members in the person of Hon. Adamu Babban Bare.
Borno State Governor, Professor Babagana Umara Zulum, on Sunday, admitted that the dreaded Islamic sect, Boko Haram exists in many parts of the state and are threat to over six million people in the state.

Borno governor approves N624 million for students’ scholarship

As schools in Borno reopen today, Governor Babagana Zulum has approved the release of N624 million for the payment of scholarship to students in tertiary institutions.
The Nigeria Centre for Disease Control (NCDC) has reported 1,244 new cases of the Coronavirus (COVID-19), bringing the total number of infections in the country to 101,331.

Lagos records 901 new coronavirus cases in 24 hours

Lagos records 901 cases of COVID-19 on Sunday, the highest number of daily infections to be recorded by the State since the virus was first confirmed in the country on February 27.