Home Topics Fiscal Responsibility Act
Fiscal Responsibility Act
The Director-General, Debt Management Office, Patience Oniha, on Wednesday, defended the nation’s debt profile, saying there is nothing wrong with borrowing.
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.
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.
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 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.
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.
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 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.
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.
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.
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.
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.
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.
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.
The United Kingdom High Commission has announced that its center’s across the country has reopened.
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.
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 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.
Prince Harry revealed he did not know unconscious bias existed until his marriage to Meghan Markle.
Hoodlums had hijacked the #EndSARS protests against police brutality to perpetrate mayhem in the state. The miscreant had attacked a prison in the state, freeing inmates. Several police stations, business premises as well as public and private properties have been looted and torched this week.
Good day, My name is Obi-Enadhuze Daniel, younger brother of the now deceased Okechukwu Obi-Enadhuze @O_Okee . I, my brother and mother lived at Makinde police barracks, Mafoluku, Oshodi, Lagos State.
Kwara State government on Sunday assured residents of protection of their lives and property, following the vandalism that was unleashed on stores in Ilorin by hoodlums masquerading as #EndSARS protesters.
Oyetola who spoke during an on the spot assessment of the extent of damage perpetrated by looters in the state on Saturday said those who perpetrated the act have the period of grace to return looted property to either the palace of monarchs within their domain or the Chairmen of their respective council areas