Senator Udoma Udo Udoma, the Minister of Budget and National Planning, Monday, said that the Federal Government has spent N3.577 trillion as at September out of the N6.06 trillion budgeted for 2016.
Udoma made this disclosure yesterday in Lagos at the KPMG CFO Forum.
According to him, “The Federal Government has spent about N3.577 trillion as at September 2016 out of the full year budget of N6.06 trillion for the 2016 fiscal year. This translates to a 79 percent performance of the […]
According to reports, the Senate on Thursday rejected the report of its Committee on Finance on the 2016 Budget of the Federal Inland Revenue Service over ambiguity.
The upper chamber dumped the budget proposal after careful consideration of recommendations of its Committee on Finance, headed by Senator John Enoh, representing Cross River Central Senatorial District.
The total budget proposed by the FIRS is N143 billion and the Committee submitted same amount for approval of the Senate.
The 2016 FIRS Budget shows an increase […]
According to reports, the federal government has said that that it had so far released N720 billion to Ministries Departments and Agencies (MDAs) out of the N1.8 trillion budgeted for capital projects in the 2016 Budget.
Minister of State for Budget and National Planning, Mrs. Zainab Ahmed, disclosed this yesterday at the end of the Federal Executive Council (FEC) meeting in Abuja.
She said work on the 2017 Budget has reached an advanced stage, stressing that the document had already been extensively […]
President Muhammadu Buhari has disclosed that the implementation of school feeding programme and N5000 monthly payment to the poor will not be fully implemented in the 2016 budget because it will take some time to work out proper modalities for their operation.
Buhari had proposed N500 billion Special Intervention Programme in the 2016 Budget for these purposes.
However, in a letter dated October 24, 2016 written to the National Assembly, titled: “Request for Virement of Funds Appropriated For Special Intervention (Recurrent) and […]
According to reports, the Minister of Finance, Mrs. Kemi Adeosun, has said that at the end of September, N3.9tn out of the N6.1tn budgeted for the year has been released.
The Director Special Projects in the ministry, who represented the minister, Mr. Mohammed Dikwa, a stakeholders’ forum on reducing the cost of governance in Abuja on Tuesday said only 18 per cent of the releases was for capital expenses against 82 per cent for recurrent expenditure.
In a paper, “Public Sector Financial […]
According to reports, the Deputy Speaker, Ekiti State House of Assembly, Mr Segun Adewumi, on Monday said the passage of the revised 2016 budget was aimed at accelerating the development of the state.
Adewumi made the clarification in Ado-Ekiti while commenting on the budget earlier presented to the assembly by Gov. Ayodele Fayose.
Fayose had sought for the lawmakers’ approval to review the initial budget of N67 billion presented to them in December, 2015 to N70.5 billion.
The deputy speaker said that the […]
Members of the House of Representatives have urged President Muhammadu Buhari and his economic team to accelerate the implementation of the 2016 budget.
They also advised the President to expedite action on the presentation of the 2017 budget projections to avoid delay in its passage.
A cross section of lawmakers who spoke in separate interviews in Abuja on Friday noted that the implementation of the 2016 budget was integral to taking Nigeria out of its present recession.
They explained that the executive cannot […]
In spite of the allegations made against him by the former chairman of the House of Representatives Committee on Appropriation, the Speaker of the House, Yakubu Dogara, has insisted that he did not doctor the 2016 budget.
“I wish to reiterate that no Kobo belonging to Nigerians has been misappropriated, stolen or lost in this budget saga,” Dogara said on Saturday on his official Twitter account.
“I wish to state clearly that there was no act of corruption by me during and/or […]
Members of the Transparency Group are appalled and deeply shocked to hear the Speaker of the House of Representatives, Rt. Hon. Yakubu Dogara, exonerating himself from the budget-padding scandal raging in the House.
For a person of Speaker’s standing to have the temerity to come out publicly in defence of an action that is clear negation of federal character principles and breach of trust is both disappointing and dishonorable.
The Speaker’s comments also endanger the spirit of the oneness of Nigeria.
We gave […]
According to reports, the federal government yesterday disclosed that it spent N2.1 trillion in the past two months (May and June), with N598.63 billion going to servicing existing debts and N331.58 billion on capital expenditure.
The federal government also recorded revenue loss of N1.064 trillion in the first half of the year. President Muhammadu Buhari in May, assented to a record budget of N6.06 trillion, tagged ‘Budget of Change’ which was passed by the National Assembly for the 2016 fiscal year.
It can […]
Kwara State Governor Abdulfatah Ahmed has lauded the inclusion of some deplorable federal roads in the state in the 2016 budget. He described it as the best thing that had happened to the state in the last 16 years from the Federal Government.
Governor Ahmed spoke during a media chat to mark the first year of his second term in office and the 2016 Democracy Day. He listed the federal roads captured in the 2016 budget as Share-Patigi-Kogi boundary road, Kaiama-Kishi […]