• Nigeria’s foreign reserves drop to $24.74bn

    Nigeria’s foreign reserves drop to $24.74bn

    The Minister of Budget and National Planning, Sen. Udoma Udo Udoma, says Nigeria’s foreign reserves have reduced from $26.51 billion in the second quarter of 2016 to $24.74 billion in September.

    Udoma on Tuesday said this at the 57th annual conference of Nigerian Economic Society with the theme “the developmental state and diversification of the Nigerian economy”.

    He said Nigeria had revenue and foreign currency concentration problems, adding that diversification was the only solution.

    The minister said due to four strategic pipeline terminals […]

  • How Governors endorsed FG’s recession exit strategy after collecting N50bn

    How Governors endorsed FG’s recession exit strategy after collecting N50bn

    The jobs of Minister of Finance Mrs. Kemi Adeosun and Minister of Budget and National Planning, Senator Udoma Udo Udoma, are safe for now, except President Muhammadu Buhari decides otherwise.

    An indication of this emerged on Thursday at the National Executive Council, NEC, meeting held at the Presidential Villa, and presided over by Vice President, Prof Yemi Osinbajo, SAN.

    NEC is composed of Governors of all 36 states of the federation and the Central Bank of Nigeria, CBN, Governor.

    The Vice President is […]

  • Breaking news : Governors pass vote of confidence on Udoma, Adeosun

    Breaking news : Governors pass vote of confidence on Udoma, Adeosun

    Nigerian governors today passed a vote of confidence on the minister of Budget and National Planning, Senator Udoma Udo Udoma and her finance counterpart, Mrs. Kemi Adeosun, saying they were not responsible for plunging the country into recession.

    The governors’ position rubbishes the National Assembly’s call for the removal of the two ministers, whom they accused of not knowing what to do in order to bail the nation out of the economic straits.

    The governors, who passed their implicit confidence on the […]

  • No Date Yet For 2016 Budget Signing – Minister of Budget, Udoma

    No Date Yet For 2016 Budget Signing – Minister of Budget, Udoma

    The Minister of Budget and National Planning, Udoma Udo Udoma, on Wednesday said there is no date yet in sight for President Muhammadu Buhari to assent the 2016 Budget.

    According to him, talks on the grey areas in the budget are still in progress.

    He spoke with State House correspondents at the end of the Federal Executive Council (FEC) meeting in Abuja.

    He said: “On the 2016 Budget, we are still talking.

    “On the expectation that we will soon have a budget, the monitoring […]