• Budget delays: Senate set to repeal 58-year old Fiscal Responsibility Act

    Budget delays: Senate set to repeal 58-year old Fiscal Responsibility Act

    Plans by the National Assembly to amend the 58-year old Fiscal Responsibility Act had reached its final stages with the submission of the report upon which the amendment would be predicated.

    The report, which was presented to the President of the Senate, Dr. Abubakar Bukola Saraki, by the Leader of the Senate, Ali Ndume, recommended that annual budget be presented in the first week of September.

    The report, prepared by the Technical Committee on Budget Reforms, also recommended that the budget be […]

  • MPC retains 14% interest rate, advocates robust fiscal policies to revive economy

    MPC retains 14% interest rate, advocates robust fiscal policies to revive economy

    It was gathered that the Monetary Policy Committee of the Central Bank of Nigeria on Tuesday retained interest rate at 14 per cent and urged the Federal Government to evolve robust fiscal policies in reviving the economy from recession.

    The Central Bank Governor, Godwin Emefiele, announced this in Abuja during a news conference on the outcome of the MPC meeting.

    Emiefile said the committee elected to retain the current policy, which is the Monetary Policy Rate, at 14 per cent, Cash Reserve […]

  • FEC approves fiscal strategy plan for 2017 to 2019

    FEC approves fiscal strategy plan for 2017 to 2019

    The Federal Executive Council (FEC) on Wednesday in Abuja approved the Medium Term Expenditure Framework (MTEF) and Fiscal Strategic Paper (FSP) for 2017 to 2019.

    The Minister of Budget and National Planning, Mr Udoma Udo-Udoma, made this known while briefing State House correspondents after the Federal Executive Council (FEC) meeting which was presided over by President Muhammadu Buhari. He revealed that there was extensive consultation with stakeholders, including state governors and Non-Governmental Organisations (NGOs) before the document was presented to FEC […]