• 2016 budget: FG spent N3.577trn in 9 months, says Udoma

    2016 budget: FG spent N3.577trn in 9 months, says Udoma

    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 […]

  • I didn’t snub Senate – Udoma replies Ndume

    I didn’t snub Senate – Udoma replies Ndume

    It was gathered that the Minister of Budget and National Planning, Senator Udoma Udo Udoma, on Thursday described as untrue accusation by the Senate Leader, Senator Ali Ndume, that he snubbed the senate by refusing to turn up for a scheduled meeting on Tuesday.

    Udoma in a three paragraph statement issued by his Media Adviser, Mr Akpandem James, expressed surprise over the allegations.

    The minister said while he was invited by the senate leadership to a meeting, the meeting could not hold […]

  • Current situation an opportunity to change the economy for good, says Udoma

    Current situation an opportunity to change the economy for good, says Udoma

    According to reports, the current economic crisis in the country should be seen as an opportunity for Nigeria to make major structural changes needed to change the country’s economy for good.

    Budget and National Planning Minister, Senator Udoma Udo Udoma, told a gathering of Economists in Abuja on Tuesday that the opportunity should be used to implement reforms needed to unlock the economic potentials of the non-oil and high-employment sectors; and subsequently achieve sustainable inclusive growth that will ensure that majority […]

  • Sack Adeosun, Udoma now – Ekweremadu

    Sack Adeosun, Udoma now – Ekweremadu

    Reviewing the state of the nation as it affects the economy, Deputy Senate President Ike Ekweremadu yesterday advised President Muhammadu Buhari to remove Budget and National Planning Minister, Sen. Udoma Udo Udoma and Finance Minister, Mrs. Kemi Adeosun.

    However, Senator Shehu Sani (APC, Kaduna Central) said sacking the two ministers will not solve the current economic crisis.

    Ekweremadu said the Buhari administration “should not put square pegs in round hole.” This is even as the Speaker, House of Representatives, Yakubu Dogara urged […]

  • How to reflate Nigeria’s economy – Kachikwu, Adeosun, Udoma, Enelamah

    How to reflate Nigeria’s economy – Kachikwu, Adeosun, Udoma, Enelamah

    According to reports, the Minister of State for Petroleum, Dr. Ibe Kachikwu, has identified seven key implementation strategies to boost the petroleum industry and enable export of refined products by 2019.

    Kachikwu announced this at the Presidential Quarterly Business Forum between the Private Sector and the Economic Management Team in Abuja on Monday.

    Represented by Johnson Awoyemi,, the Senior Technical Adviser of the ministry, the minister identified peace and security in the Niger Delta region as crucial in the programme.

    Kachikwu mentioned policy […]

  • We are working towards early passage of 2017 Budget, says Udoma

    We are working towards early passage of 2017 Budget, says Udoma

    According to reports, the Minister of Budget and Planning, Udoma Udo Udoma, on Friday said the executive will collaborate with the National Assembly towards ensuring early passage of the 2017 Appropriation Bill.

    He also assured Nigerians that the crisis witnessed in the passage of the 2016 budget will not be experienced in the 2017 budget, saying the National Assembly may not spend up to three months to look at the budget.

    Udoma, who was a guest on Channels TV said Nigeria is […]

  • Nigeria seeking $20m loan from China – Udoma

    Nigeria seeking $20m loan from China – Udoma

    Budget and National Planning Minister Udoma Udo Udoma has affirmed that hopes are high for Nigeria to secure a $20 billion loan from China’s EXIM Bank.

    China had agreed at the Johannesburg Summit in South Africa in December 2015 to assist African countries in 10 strategic areas that will help their economies. There, it had pledged $60 billion in aid, grants and concessional loans.

    Senator Udoma, who is in China for the implementation of follow-up actions of the Johannesburg Summit of the […]

  • We will target 100 percent Budget Implementation – Udoma assures Nigerians

    We will target 100 percent Budget Implementation – Udoma assures Nigerians

    Senator Udoma Udo Udoma, the Minister of Budget and National Planning, on Friday said in spite of the late signing of the 2016 budget, the administration would target 100 per cent implementation.

    Udoma gave the assurance while briefing State House correspondents shortly after President Muhammadu Buhari signed the Appropriation Bill in Abuja

    The minister said the budget was anchored on $38 per barrel of oil benchmark, adding that the projection was also based on 2.2 million barrels of crude per day production.

    He […]

  • Osinbajo, Udoma meet Buhari over 2016 Budget … more photos

    Osinbajo, Udoma meet Buhari over 2016 Budget … more photos

    In a bid to resolve the impasse over the N6.06 trillion 2016 budget, President Muhammadu Buhari met with his deputy, Prof. Yemi Osinbajo and the Minister of Budget and National Planning, Senator Udoma Udo Udoma yesterday night.

    The meeting would be the first formal meeting between the trio on the lingering controversy between the Presidency and the National Assembly over alleged padding of the budget after Buhari returned from China.

    Two weeks ago, the National Assembly transmitted the budget to Buhari for […]

  • Photos as Buhari, Osinbajo, Minister of Budget and Nat Planning, Udoma scrutinizing the 2016 budget earlier today

    Photos as Buhari, Osinbajo, Minister of Budget and Nat Planning, Udoma scrutinizing the 2016 budget earlier today

    This happened at State house earlier today. It was reported that only one Minister did not have problems with the budget when it was discussed at the emergency Federal Executive meeting presided by VP, Prof Yemi Osinbajo. See more photos detailed:

    It was learnt that the lawmakers reduced amounts allocated to some major projects and inserted what was not originally included in the budget by the