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FEC approves N5.72 billion for NDIC projects, 12 consultancy services

The Federal Executive Council (FEC) has approved N5.72 billion for the construction of Nigeria Deposit Insurance Corporation’s (NDIC) zonal office in Bauchi and for 12 consultancy services for development of NDIC’s offices.
national assembly abuja

ActionAid wants Senate or House of Reps scrapped to reduce high cost of governance

In order to reduce the high cost of governance involved in bi-cameral legislature, ActionAid Nigeria has called for the scrapping of the Senate or the House of Representatives.
ActionAid Nigeria

ActionAid advises federal government on 2020 budget, VAT, sexual harassment, others

A non-governmental and non-partisan organization, ActionAid Nigeria, AAN, Sunday, advised the Federal Government on the proposed 2020 Budget Appropriation Bill, Value Added Tax, VAT, Sexual Harassment in Tertiary Education Institution Prohibition Bill, and other national issues.
Members of the minority parties in the House of Representatives have faulted the suspension of the Minority Leader, Mr Ndudi Elumelu, and five other leaders of the caucus by the Peoples Democratic Party.

PDP caucus cautions House of Reps on 2020 budget

Members of the main opposition Peoples Democratic Party (PDP) in the House of Representatives at the weekend cautioned that the House should not rubberstamp the N10.33 trillion 2020 budget.

Guinness: VAT increase’ll impact manufacturers negatively

Chairman of Guinness Nigeria Plc, Mr. Babatunde Savage, has expressed concern over the proposed increased in Value Added Tax, VAT, rate, stating that it would negatively impact manufacturing firms in the country, increase the cost of doing business and further reduce the disposable income of Nigerians.
All Progressives Congress (APC) Nigeria

APC urges federal government to withhold Bayelsa’s N7 billion VAT refund

The All Progressives Congress (APC) has appealed to the Federal Government to withhold a N7billion Value Added Tax (VAT) refund to the Bayelsa State Government for people’s sake.
All Progressives Congress (APC) Nigeria

APC warns against releasing N7 billion VAT refund to Bayelsa government

The All Progressives Congress (APC) has cautioned the Federal Government against plans to release N7 billion in VAT refund to the Bayelsa State Government, claiming that the state will deploy the fund into buying votes for the November 16 governorship election.
Nigerian Stock Exchange NSE

Financial experts attribute Nigeria stock market lull to economic dislocations

Some financial experts on Monday attributed the incessant lull on the Nigerian Stock Exchange (NSE) to various economic dislocations in the country.

Minister predicts significant drop in food prices

A statement issued yesterday from the minister’s office, explained that he made these comments when he hosted a United Nations Industrial Development Organisation (UNIDO) delegation led by the Representative to the Economic Communities of West African States (ECOWAS) and Regional Director, Nigeria Regional Hub, Mr. Jean Bakole.
Ahmed Idris, the Accountant-General of the Federation (AGF)

Federal government, states, local councils share N693.529 billion for September

The Federal Government, 36 states and the Federal Capital Territory and 774 local government areas shared N693.529 billion as of September allocation disbursed by the Federation Account Allocation Committee (FAAC).
RIYADH - Saudi Arabia and the Palestinians agreed on Thursday to establish a joint economic committee and a business council, as the Palestinian Authority faces a financing gap that could top $1.8 billion. Palestinian President Mahmud Abbas's PA has been in deep financial crisis since February when Israel froze transfers of VAT and customs duties it collects on the Palestinians' behalf. His administration had to impose austerity measures, cutting almost half the salaries of its employees. Abbas, who arrived in Riyadh on Wednesday, met with King Salman and Crown Prince Mohammed bin Salman, according to the official Saudi Press Agency (SPA).

Saudi Arabia, Palestinians agree on Joint Business Council

Saudi Arabia and the Palestinians agreed on Thursday to establish a joint economic committee and a business council, as the Palestinian Authority faces a financing gap that could top $1.8 billion.
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.

We will not reach 80% revenue performance for 2019 – minister

Mrs Zainab Ahmed, the Minister of Finance, Budget and National Planning, says the nation will not be able to reach 80 per cent revenue performance for 2019.

Femi Falana urges federal government to recover looted wealth to fund budget

Human Rights lawyer Femi Falana (SAN) has told the Federal Government to embark on a drive to recover Nigeria’s looted wealth to garner resources to fund the 2020 budget.
The Presidential Election Petition Tribunal has upheld argument by President Muhammadu Buhari that it lacked the jurisdiction to entertain allegation of corrupt practices and voters’ inducement raised against Vice President Yemi Osinbajo in the petition by Atiku Abubakar and the PDP.

VP Osinbajo: How states can improve their revenues, boost agric production

In order to increase their Internal Generated Revenue (IGR), States must explore ways to boost its agricultural development and harness the entrepreneurial spirit of Nigerians, according to Vice President Yemi Osinbajo (SAN).
Timothy Olawale - Nigeria Employers’ Consultative Association (NECA)

NECA express reservations concerning 2020 Budget

Nigeria Employers Consultative Association, NECA, yesterday critically appraised the 2020 national budget presented before the Joint session of the National Assembly, on October 8, and expressed reservations over its intentions.
President Muhammadu Buhari on Tuesday proposed a capital expenditure of N46 billion for the Ministry of Health in the 2020 appropriation bill he submitted to the National Assembly.

Senators: 2020 budget projections unrealistic

Some senators, yesterday, dismissed projections of President Muhammadu Buhari’s N10.33 trillion 2020 budget proposal as unrealistic.
President Muhammadu Buhari on Tuesday proposed a capital expenditure of N46 billion for the Ministry of Health in the 2020 appropriation bill he submitted to the National Assembly.

2020 Budget: Finance bill is to increase VAT – President Buhari

President Muhammadu Buhari has said that the Finance Bill 2019 he forwarded to the National Assembly when passed into law, will permit the government to raise the country’s Value Added Tax from 5 to 7.5 per cent.
President Muhammadu Buhari on Tuesday proposed a capital expenditure of N46 billion for the Ministry of Health in the 2020 appropriation bill he submitted to the National Assembly.

2020 budget: Experts express worry over 7.5 per cent VAT estimates

Some economic experts have expressed concern over the Federal Government’s decision to base the estimated revenue from Value Added Tax in 2020 by 7.5 per cent instead of five per cent.

Recent Stories

An Air Peace flight from Port Harcourt to Lagos experienced a hard landing which caused a tyre burst and damage to the aircraft’s nose wheel at the Murtala Muhammed International Airport (MMIA) in Ikeja Lagos. The aircraft with 133 passengers and six crew members after making emergency landing reportedly veered off the runway on 18R. Photo: Abdullateef Aliyu, Lagos 23/7/19

Accident bureau releases report on incidents involving Air Peace aircrafts

Accident Investigation Bureau (AIB) Nigeria has released the preliminary reports on the incidents involving three aircraft, two B737-300s with tail number 5N-BUK and 5N-BQO and a B737-500 with registration 5N-BRN owned and operated by Air Peace and has issued safety recommendations.
Robert Lewandowski

Timo Werner: Only Lionel Messi and Cristiano Ronaldo are playing at Robert Lewandowski’s level

Timo Werner acknowledges he has little hope of outscoring Robert Lewandowski in the Bundesliga this season, as the Bayern Munich forward's form can only be matched by Lionel Messi and Cristiano Ronaldo.
Nigeria came from behind to get their 2021 Africa Cup of Nations qualifying campaign to a positive start with a 2-1 Group L win over Benin at Akwa Ibom Stadium in Uyo. 3

AFCONQ: Super Eagles to hit Maseru by chartered flight

Nigeria’s Super Eagles are expected to storm Maseru, Moshoeshoe International Airport on Friday through a chartered flight to keep a date with Lesotho in the AFCON 2021 qualifiers on Sunday.
Adegboyega Oyetola

Osun governor presents 119.5 billion budget for 2020

Gov. Gboyega Oyetola of Osun State on Thursday presented a N119.5 billion budget to the state House of Assembly for the 2020 fiscal year.
Former World Cup and Champions League-winning coach Marcello Lippi has announced his resignation as manager of the Chinese national team after a World Cup qualifying defeat to Syria.

World Cup winner Marcello Lippi resigns from China managerial role

Former World Cup and Champions League-winning coach Marcello Lippi has announced his resignation as manager of the Chinese national team after a World Cup qualifying defeat to Syria.