The House of Representatives committee said it would avail WAEC another chance to appear before it on Thursday, December 21, 2023 owing to the board’s absence at session billed for today The House of Representatives committee on basic education has summoned the West African Examinations Council (WAEC) over the absence of its officials at the 2024 budget defence hearing. The committee ordered the examination board to appear before it on Thursday, December 21, 2023 by...
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...
Unexplained wealth should be confiscated to help curb illicit financial flow and other corrupt practices, argues the EFCCÂ The Economic and Financial Crimes Commission (EFCC) has called for the adoption of the Unexplained Wealth Order (UWO), which mandates people to reveal the sources of their unexplained wealth. According to the EFCC chairman, Mr. Ola Olukoyede, establishing legislation against unexplained wealth will check fraud, corruption and other criminal activities in the country. He urged this while...
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,...
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...
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....
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...
The NCoS says it plans to rehabilitate dilapidated facilities for inmates and staff of the service if it gets sufficient budgetary allocation in 2024 The Nigeria Correction Services (NCos) says it plans to rehabilitate dilapidated correctional centres staff quarters and build new ones to reduce the prevalence of overcrowded prisons across the country. The NCos Comptroller General, Haliru Nababa, pleaded for an increased allocation in the 2024 budget to ensure that the service can achieve...
In the last ten years, Nigeria has been unable to meet its oil production benchmark signifying a pattern of failing in executive planning and legislative approval of the country’s annual budgets Nigeria set its first Medium-Term Expenditure Framework (MTEF) benchmark for crude oil in 2004, which was about 19 years ago. The MTEF provides a framework for Nigeria’s annual budgeting process, including revenue projections and expenditure estimates for a period of three years. It also...
Sanusi, a former CBN governor, renowned for his blunt forthrightness, said the national assembly shares huge blame for the opacity and alleged corruption of the NNPCL, the state oil company Former governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi, has said the failure of the National Assembly to adequately carry out its oversight functions on the Ministry of Petroleum Resources, the Nigerian National Petroleum Corporation Limited (NNPCL), and other relevant departments in...
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