The senate extended implementation of the 2023 budget till March 31st 2024, to allow MDAs to utilise capital releases which would otherwise be returned to treasury The Senate has granted an accelerated passsage to an amendment of the 2023 budget and the supplementray money bill passed last November. The rationale is to extend the implementation of the 2023 budget till March 31, 2024 so that Ministries, Departments, and Agencies (MDAs) of the Federal Government some...
The Senate committee had observed discrepancies in the accounts of the CAC and was therefore miffed at the continual absence of the CAC boss The Registrar-General of the Corporate Affairs Commission (CAC), Ishaq Hussain Magaji has come under fire from the Senate committee on finance as it has mandated the Inspector-General of Police to compel his appearance before it within 24 hours. The Registrar General had turned down the Senate Committee’s invitation to defend its Commission’s...
The Senate appropriation chair, however, assured that the committee would search the 2024 budget for money to cover the planned population census The Senate was taken aback by a revelation that there was no provision for the scheduled 2024 population and housing census in the budget proposal of the National Population Commission (NPC). This was disclosed by Chairman, Senate Committee on National Population Commission, Senator Abdul Ningi (PDP Bauchi Central) who informed the lawmakers about...
Both senate committees aligned on the position that N1billion for travel to attract investments was inadequate and called for increased funding for the ministry of trade The Senate has called for more funding to the Ministry of Industry, Trade and Investment (FMITI) to enable officials embark on essential trips to woo investors into the country. This call was made by the Senate committee on trade and investment, chaired by Senator Sadiq Umar (APC, Kwara North)...
The National Assembly joint committee condemned the N9.6 billion 2024 budget allocation of federal ministry of petroleum resources The 2024 budget proposal of the ministry of petroleum resources does not support the renewed hope agenda of President Bola Tinubu, and therfore needs to be increaesd. This was made known during defence meeting of the ministry on Monday, December 18, 2023, at the National Assembly. Members of the National Assembly joint committee described the budget as...
The House of Representatives committee on information has urged for increased funding for the ministry of information by aggregating all media budgets under its purview The House of Representatives committee on information has called on the President, Bola Ahmed Tinubu, to ensure that there’s an increase in the funds allocated to the ministry of information in the 2024 budget. Expressing concern about the N2.59 billion budgetary allocation of the ministry, the committee asked for an...
The senate committee assured that the national monument, if created, will serve as an alternative source of revenue to the country The Senate committee on culture and creative economy has called for appropriation of N10 billion for the ministry of arts, culture, and creative economy for the construction of a national monument in the Abuja, the Federal Capital Territory (FCT). In an appeal to the Appropriations Committee, which is chaired by Senator Solomon Olamilekan (APC,...
In a rare occurrence, the House of Representatives says to sit on Saturday, and the sole agenda will be to pass the 27.5 trillion appropriation bill for the 2024 fiscal year The House of Representative will pass the 2024 appropriation bill on Saturday, December 23, 2023. TheSpeaker, Rep. Tajudeen Abbas (APC, Kaduna), disclosed this at the plenary session on Tuesday. He urged the lawmakers to ensure that they are present for the passage of the bill...
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)...
The joint committee also suggested that the president, who is the substantive minister of petroleum, is also expected to appear to defend propositions in the 2024 budget  The National Assembly joint committee on Petroleum Resources has summoned the minister of state for petroleum resources, Sen. Heineken Lokpobiri and minister of state for gas, Mr. Ekperikpe Ekpo, to appear before it on Monday, December 18, 2023. The committee members reached the decision on Thursday, December 14, 2023,...
