According to reports, the Speaker of the House of Representatives, Mr. Yakubu Dogara, has disclosed plans by the Federal Government to refund debts owed the 36 states by paying them N20billion apiece, a total of N720bn.
Dogara said the money would be used for the provision of infrastructure by the states.
Many states had in the past undertaken to rehabilitate failing federal government infrastructure in their domain, especially road projects with the understanding that they would be repaid by the latter.
Statement on […]
Donald Trump took the early electoral-vote lead over Hillary Clinton Tuesday night, as the candidates each claimed big – albeit expected – state victories, but were locked in a tight race for numerous key battlegrounds.
It was too early or close to call a range of vital swing states, including Pennsylvania, Florida, Ohio, New Hampshire, Virginia and North Carolina.
While the outcome of those races is unclear, Fox News can project that Trump will win in Texas, Arkansas, Kansas, North Dakota, South […]
State Chairmen of the Peoples Democratic Party (PDP) have expressed support for Hon. Eyitayo Jegede as the party’s candidate for Ondo State governorship election.
The chairmen, who met on Tuesday after the sitting of the Court of Appeal that heard the appeal filed by Senator Ahmed Makarfi faction against the recognition of Mr. Jimoh Ibrahim as the PDP candidate by the Independent National Electoral Commission (INEC), however, expressed optimistic that justice would be done on the matter.
The meeting was convened at […]
According to reports, the Ooni of Ife, Oba Adeyeye Ogunwusi on Friday ended his visit to Ekiti state with a promise that the Yoruba-speaking states in Nigeria would soon have a common anthem in local dialect that will be sung at every public forum immediately after that of the national anthem.
The monarch made the pronouncement when he visited Governor Ayo Fayose at the Government House to round-off his two-day official visit to the state.
He said the need for such Yoruba […]
President Muhammadu Buhari is presently reviewing the application of 13 per cent derivation allocation to the oil producing states, says Minister of state for Petroleum Resources, Dr.Ibe Kachikwu.
Kachikwu, who disclosed this in Abuja during an interview with journalists shortly after the president launched the sector’s policy road map, noted that the move is part of Federal Government’s plans to address the issues confronting the Niger Delta.
The Petroleum Sector Policy Road Map which was launched at the Presidential Villa is tagged: […]
According to reports, the Federal Government, States and Local government shared N420 billion in revenue allocation in September.
The Permanent Secretary, Ministry of Finance, Dr. Mahmoud Isa- Dutse disclosed this in Abuja yesterday at the end of the Federation Account Allocation Committee( FAAC).
However, there was N90.2 billion allocation shortfall as N510.27 was shared in August.
The reduction sprang from sustained attacks on oil installations and pipeline vandalism that made revenue generation difficult, despite increase in average price of crude oil at global […]
Former President Olusegun Obasanjo has said the grazing bill before the National Assembly was uncalled for and said it is like “trying to kill a fly with sledge hammer.”
Obasanjo also absloved President Muhammadu Buhari from alleged killings by Fulani herdsmen in parts of the country, especially in the North Central and the south.
Delivering a keynote address at the 23rd Annual Lift Above Poverty Organisation (LAPO) Development Forum, organised in Abuja, Obasanjo said ranching and control of herders is a local […]
According to reports, the World Bank has donated the sum of $50 million Dollars to assist six states of Borno, Yobe, Adamawa, Bauchi, Taraba and Gombe affected by Insurgency under the FADAMA programme.
The leader of the World Bank delegation, Dr. Adetunji Oredipe, who stated this to Journalists in Yola, Adamawa State, said the reason for carrying out such project is to deal with the negative impact of insurgency that have affected the people of the North-eastern states.
Oredipe further explained that […]
According to reports, the Federal Government is set to pay states that have used their resources to rehabilitate federal roads in their areas.
Speaking Thursday in Katsina State, Minister of Power, Works and Housing, Babatunde Raji Fashola, said President Muhammadu Buhari has assured to pay the debt.
Fashola, who was speaking at the 22nd meeting of National Council of Works, said a committee was set up under his leadership and recommendations have been made to government on the matter. He said the […]
It was gathered that the Federal Government, the 36 states and the Federal Capital Territory (FCT) will commit N67.2 billion to servicing their external debt obligations for a six-month period (July- December) 2016, it has been gathered.
The Debt Management Office (DMO’s) latest figure on external debt of federal and state governments as of June 30, 2016, according to a document on debt service breakdown, stood at $11.26 billion or N3.19 trillion. It was $10.32 billion or N2.03 trillion in July […]
It was gathered that the National Council on Finance and Economic Development (NACOFED) 2016 conference, which opens in Abeokuta, Ogun state tomorrow, will examine options available to government to improve its revenue streams, especially in a period of low earnings from crude oil.
The conference, which is being hosted by the Minister of Finance, Mrs. Kemi Adeosun, has been themed: Enhancing Revenue Generation and Obtaining Best Value for Money in Expenditure.
According to the Federal Ministry of Finance, the event will attract […]