The minister says N29 billion allocated to solid minerals development in the 2024 budget is a drop in the ocean if Nigeria must diversify the economy away from hydrocarbons The Ministry of Solid Mineral Development has solicited for an increased budgetary allocation to ensure adequate funding for the exploration of solid minerals in the country. According to the Minster, Mr. Dele Alake, an increased allocation is the only way to ensure the ministry generates more...
Minister Edu called attention to non-provision for a poverty eradication trust fund and said there has been over 71% reduction in capital allocation to the ministry between 2022 and 2023 The Minister of Humanitarian Affairs and Poverty Alleviation, Dr. Beta Edu, has pleaded with the National Assembly to increase the capital allocation to her ministry in the 2024 budget as the amount allocated is not sufficient for poverty eradication in the country. The minister made...
The extractive watchdog emphasized that its reports meet the highest global standards of accuracy and objectivity as recently affirmed in a recent global assessment of NEITI The Nigeria Extractive Industries Transparency Initiative (NEITI) has refuted claims that it concealed some information from its 2021 oil and gas industry report. NEITI, in a statement issued on Monday, described the claims as fictitious, and incorrect information from frivolous media reports. The agency emphasised its dedication to transparency...
The senate committee expressed concerns over low budgetary allocation to the ministry of information and its parastatals and promised to ‘do something about it.’Â The Senate has frowned at the allocation to the ministry of information and national orientation in the N27.5 trillion 2024 budget. The Senate Committee on Information expressed this displeasure during the budget defence session with the officials of the ministry on Tuesday. In his presentation before the committee, the Minister of...
The representatives said the devastating flooding in parts of Abuja, the Federal Capital Territory (FCT) is due to improper urban planning The House of Representatives Committee on Urban Development and Regional Planning says poor physical development has deprived citizens of sustainable livelihood. Chairman of the Committee, Rep. Awaji-Inombek Abiante (PDP, Rivers) stated this during a stakeholders meeting which held at the National Assembly on Tuesday, December 12, 2023. Rep. Abiante blamed the situation on the...
President Tinubu has requested the Senate’s confirmation of 19 nominees as commissioners of the National Population Commission (NPC). Ahead of the planned conduct of a national census, President Bola Tinubu has requested the Senate to approve his nominees for appointment into the National Population Commission (NPC). The President’s request was contained in a letter read by the President of the Senate, Godswill Akpabio on Tuesday during plenary. The list contains prospective commissioners to represent states...
The dire fiscal state of the country does not allow for vital production and sales data of crude oil to remain shrouded in secrecy, says Minister Edun The Ministry of Finance had called for a transparent resource management system that allows it to track the production and sales of the country’s petroleum resources.  The ministry also emphasised the need to monitor the conversation of petroleum revenue from dollars to naira. The minister of finance, Mr....
Senator David Umahi promises to include a provision for a 15-year shelf-life insurance guarantee for projects and a maximum of 5% Variation of Price (VoP) Clause in the contracts. The minister of works, Senator David Umahi, has announced plans to include a provision for a 15-year shelf-life insurance guarantee for projects and a maximum of 5% Variation of Price (VoP) clause in contracts awarded by his ministry. Umahi said this during the 2024 budget defence...
In a rather ironic twist, the federal government which introduced the naira redesign policy now admits its deleterious consequences  The Federal Government has bemoaned the rate at which farmers are going bankrupt in the country due to the naira redesign policy pushed through by the Central Bank of Nigeria (CBN) from December 15, 2022 to early February this year when the Supreme Court ruled against it. This was as lawmakers in the national ssembly...
With N1.8 trillion lost this year alone, the Customs Service advocates for the scrapping of the exemption scheme as it denies Nigeria huge sums of revenue at a time when the country is falling short in resource mobilisation The Nigeria Customs Service (NCS) says it lost N1.8 trillion to the Import Duty Exemption Certificate (IDEC), an incentive which allows for specific goods to be imported into the country without paying import duties. According to the...
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