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Fiscal Responsibility Act

DMO: Nigerians’ concerns should be how loans are utilised

The Director-General, Debt Management Office, Patience Oniha, on Wednesday, defended the nation’s debt profile, saying there is nothing wrong with borrowing.
Debt Management Office (DMO)

DMO: Chinese loans constitute only 3.9 percent of Nigeria’s total public debt stock

Total loans by the Chinese government and affiliate agencies to Nigeria is about $3.121 billion and constitutes only about 3.94 per cent of Nigeria’s total public debt of $79.3 billion as of March 31, the Debt Management Office (DMO) has said.
President Muhammadu Buhari shortly after his nationwide broadcast, signed Proclamation Order on the General Management of Covid-19 in Lagos, Ogun, Kano, the Federal Capital Territory and other States in Nigeria.

President Buhari urges speedy passage of revised 2020-2022 MTEF/FSP, budget

The Presidency on Thursday urged the House of Representatives to speedily pass the 2020-2022 Medium Term Expenditure Framework (MTEF), and Fiscal Strategy Paper (FSP) and the revised Appropriation Bill, 2020 for the fiscal year.
The Onitsha Chamber of Commerce, Industry, Mines and Agriculture (ONICCIMA) has applauded Federal Government decision to suspend its planned borrowing of 22.7 billion dollars external loan for infrastructural projects.

Chamber applauds suspension of $22.7 billion loan by Nigerian government

The Onitsha Chamber of Commerce, Industry, Mines and Agriculture (ONICCIMA) has applauded Federal Government decision to suspend its planned borrowing of 22.7 billion dollars external loan for infrastructural projects.
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 Ibrahim Lawan (left) with the Senate Minority Whip, Senator Philip Tanimu Aduda, during the plenary on Tuesday, November 19, 2019. 4

Senate tasks revenue agencies to set targets for performance

President of the Senate, Ahmad Lawan said on Thursday that the upper legislative chamber has asked revenue generation agencies to set measurable targets for their performance.
The Fiscal Responsibility Commission (FRC) has expressed satisfaction with the quality of work at the Federal Medical Centre, Birnin Kebbi as Centre disclosed its Internal Generated Revenue (IGR) has increased from N15 million to N21 million.

Kebbi FMC IGR increases to N21 million as fiscal commission satisfies with projects executed

The Fiscal Responsibility Commission (FRC) has expressed satisfaction with the quality of work at the Federal Medical Centre, Birnin Kebbi as Centre disclosed its Internal Generated Revenue (IGR) has increased from N15 million to N21 million.
The minister of Finance, Budget and National Planning Mrs Zainab Ahmed disclosed this on Tuesday during her maiden meeting with top officials of the two merged ministries at the headquarters of Budget and National Planning in Abuja.

Oil benchmark lowered over expected crude glut – minister

The Minister of Finance, Budget and National Planning, Zainab Ahmed, has said the federal government adopted a lower oil benchmark price of $57 per barrel for the 2020 budget as against the $60 per barrel in the 2019 budget because of the expected oil glut in 2020, as well as the need to cushion against unexpected price shock.
President of the Senate, Ahmad Lawan, presiding over the plenary in the upper chamber on Thursday, 3rd October, 2019.

Senate to partner FRC to block revenue leakages

The Senate has promised to work with the Fiscal Responsibility Commission (FRC) to block revenue leakages and misuse of funds by Federal Government agencies.
President of the Senate, Ahmad Ibrahim Lawan, said on Tuesday that all standing committees of the upper chamber will be inaugurated on Wednesday.2

Senate approves 2020-2022 MTEF/FSP, raises federal government’s expenditure estimates to N10.7 trillion

The Senate on Thursday, approved the 2020 to 2022 Medium Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper (FSP).
The Speaker of the House of Representatives, Femi Gbajabiamila, has approved the appointment of Olarewaju Lasisi as his senior special adviser on media and public affairs. 3

House of Reps approves MTEF

The House of Representatives on Thursday passed the 2020 to 2022 Medium Term Expenditure Framework and Fiscal Strategy Paper.
The convener of The Platform, Nigeria, Pastor Poju Oyemade, has said that Nigeria’s problems are rooted in societal indifference and personal callousness caused by the imperfections of men, and in solving this problem, there is a need for a change in government policies, implementations and individuals’ approach to the national issues and concerns.

Pastor Poju: Nigeria’s problems caused by societal indifference, imperfections of men

The convener of The Platform, Nigeria, Pastor Poju Oyemade, has said that Nigeria’s problems are rooted in societal indifference and personal callousness caused by the imperfections of men, and in solving this problem, there is a need for a change in government policies, implementations and individuals’ approach to the national issues and concerns.
national assembly abuja

National Assembly warns MDAs to desist from diverting revenue accruing to federal government

The National Assembly has warned all the revenue generating federal ministries, departments and agencies (MDAs) engaging in diversion of revenues to desist from the act, saying such practice would not be tolerated henceforth.

President Buhari and appointment of ministers

Nigerians will recall that the 2019 presidential election was held on February 23, 2019 after the Independent National Electoral Commission postponed it within a few hours to its opening on February 16, 2019. The incumbent, President Muhammadu Buhari, was declared the winner within a couple of days after the election.

Whistleblowers: Arrest Godwin Emefiele over missing $2.5 billion

The Governor of Central Bank of Nigeria, Godwin Emefiele has been asked to explain how over 2.5 billion USD allegedly missed under his watch between 2015 and 2019, and subsequently remit the funds to the Treasury Single Account (TSA) within seven working days.
Zainab Ahmed, minister of finance, says the federal government is working on a policy that will limit the number of children a woman can give birth to.

Minister: Nigeria’s debt still low, no removal of fuel subsidy yet

Nigeria’s debt, which is about 19 per cent of the country’s Gross Domestic Product (GDP), is still considered low among developing economies, the supervising minister of finance, Zainab Ahmed, has said.

Speaker Dogara: Why President Buhari administration budgets were delayed

Nigerian House of Representatives Speaker Yakubu Dogara Tuesday revealed the cause of the delay in enacting the country’s budget during the last four years of President Muhammadu Buhari.

Speaker Dogara: Asiwaju Tinubu pursuing facist agenda to control all levels of power in...

The Speaker of the House of Representatives, Yakubu Dogara, has attacked a National Leader of the All Progressives Congress, APC, Bolaji Ahmed Tinubu, saying that the former Lagos Governor was pursuing facist agenda to control all levels of power in Nigeria.

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Britain reopens visa application centers in Nigeria

The United Kingdom High Commission has announced that its center’s across the country has reopened.
Nigeria’s Private Sector led Coalition Against COVID-19, CACOVID, yesterday formally announced the flag-off of a nationwide distribution of multi-billion naira food palliative and other relief items to vulnerable Nigerians.

CACOVID: Looted palliatives awaiting distribution

Most of the looted palliatives in warehouses across the nation were awaiting distribution to over 2 million vulnerable households, the private sector-led Coalition Against COVID (CACOVID) has explained.
Two minors and four other suspects were paraded on Monday by police in Ekiti State in connection with arson attacks on three police stations in the State.

#EndSARS: Police parade two minors, four others for arson

Two minors and four other suspects were paraded on Monday by police in Ekiti State in connection with arson attacks on three police stations in the State.
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#EndSARS: Ekiti panel receiving petitions ahead of November 2 sitting

The Ekiti State Judicial Panel of Inquiry on the Allegations of Human Rights Violations Against the Police, defunct SARS officers and other Persons has commenced its activities with a call on citizens of the State to start submitting petitions ahead of its November 2 inaugural sitting.
The Lekki Concession Company, LCC, has refuted claims that it removed the CCTV’s at Lekki tollgate few hours before the shooting of protesters on Tuesday.

Britain asks Nigerian government to investigate Lekki shooting, bring culprits to book

The British High Commission in Nigeria has asked the Federal Government of Nigeria led by President Muhammadu Buhari to investigate all killings and incidents associated with the #EndSARS protests.