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Appropriation committee issues 48 hours ultimatum on 2024 budget

Sen. Olamilekan, the appropriation committee chairman, urged all sub-committees to adhere to the deadline to ensure the National Assembly meets the January-December budget cycle The National Assembly, through its joint committee on Appropriation, has issued a 48-hour ultimatum to all sub-committees to submit their reports on the 2024 budget estimates. This is as the sub-committees began submitting their reports to the joint committee on Monday. Beginning with the committee on tourism chaired by Senator Ireti...

‘I’m well, work goes on,’ Akpabio reacts to reports of his collapse

Sen. Akpabio had hosted high-profile guests at a colloquium to mark his 61st birthday anniversary and said he got tired. He advised journalists to drink water frequently The President of the Senate, Godwsill Akpabio has opened up on his health status saying he is stable, as against the reports of his collapse on Thursday, December 14, 2023 in the course of the colloquium that complemented activities marking his 61st birthday. He disclosed this on Friday,...

2024 Budget: Lawan assures increased funding for DSA 

Sen. Lawan promises to increase the capital budget of the DSA in order for it to function effectively The Senate has expressed its commitment to ensure that the Defence Space Administration (DSA) receive sufficient funding in the 2024 budget to allow it carry out its mandate effectively. This was made known by the chairman of the committee on defence, Senator Ahmad Lawan (APC, Yobe North), on Thursday, when officials of the DSA appeared before the...

Exchange rate will decline in 2024 – CBN

Besides expressing optimism about the exchange rates, the CBN boss projects less revenue from oil exports in the 2024 fiscal year  The Central Bank of Nigeria (CBN) has guaranteed that the country’s skyrocketing inflation and exchange rates will significantly decrease in 2024. The apex bank also predicted lower oil revenue for the coming fiscal year, while disclosing that the sum of N18.804 billion worth of trade was recorded through the Nigerian Foreign Exchange Market (NFEM)...

AMCON: Drama in senate over N5tn debts

A budget defence session by AMCON turned dramatic as senators took turns to lambast the debt recovery agency and threatened to scrap it There was a dramatic turm of events on Wednesday when senators disagreed on the performance of the Asset Management Corporation of Nigeria (AMCON) with some of the legislators calling for its dissolution.  This was as the Managing Director of the agency, Ahmed Kuru, failed to convincingly explain inability of the agency to...

NNPCL has remitted N4.5 trillion revenue in 10 months – Kyari

The chief executive also assured that Nigeria would see better times in the oil and gas industry as recent policy  reforms are realised through the NNPCL  The Nigerian National Petroleum Company Limited (NNPCL) has declared that it remitted N4.5 trillion generated  revenue as at October this year into the federation’ account. The state oil company further asserted that prosperity is imminent for the country because itself and other significant players in the oil industry are...

Defence budget isn’t for security agencies to work in silos – Senators

Members of the joint committee promised to increase the defence budget to ensure that the ministry and security agemcies are completely equipped to perform their functions The National Assembly joint committee on defence has told the minister of defence that budgetary allocations to security agencies should be of priority knowledge and coordination in order to avoid working in silos.  This position was spearheaded by Senator Ahmad Lawan (APC, Yobe North) during the budget defence of...

Edu begs NASS to raise poverty eradication budget

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...

Senate says allocation to information ministry insufficient

The senate committee expressed concerns over low budgetary allocation to the ministry of information and its parastatals and promised to ‘do something about it.’  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...

Tinubu seeks Senate confirmation of NPC nominees

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...

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