Hightlight Archives - Page 164 of 202

Reps to review constituency development fund bill

Beloved JohnJanuary 4, 20244 min

The speaker of the House of Representatives, Tajudeen Abbas, intends to review the Constituency Development Fund Bill to improve transparency and accountability in the utilization of funds designated for constituency projects. The speaker of the House of Representatives, Rep. Tajudeen Abbas (APC, Kaduna), has disclosed that he plans to re-introduce a revised version of the Constituency Development Fund Bill to the floor of parliament. The bill provides a legal framework for the management, disbursement, utilization,...

National Assembly Politics

Budget deficit – A ‘tradition’ President Tinubu retained in the 2024 Budget

NewsroomJanuary 3, 20243 min

President Tinubu in the 2024 appropriation bill signed into law followed the tradition of his predecessor with a budget deficit of N9.178tn A Budget typically comprises 2 main items. The revenue (income) and the expenditure (how the income is to be disbursed and spent majorly as a capital project or a recurrent project). A budget deficit occurs when one’s expenditure is more than the revenue. That is, you plan to spend more than the earnings....

National Assembly Politics

History as President Tinubu signs 2024 budget, extends 2023 supplementary budget

NewsroomJanuary 2, 20242 min

The President makes history as he not only signs 2024 budget but also endorses the extension of the 2023 supplementary appropriation earlier passed by the parliament President Bola Tinubu has signed into law the 2024 budget of N28.7 trillion. The president also signed the N2.2tn supplementary appropriation for 2023 which will now run alongside the 2024 budget until March 31, 2024. He appended his signature to the bills on Monday, January 1, 2024. OrderPaper recalls...

National Assembly Politics

Why we jerked 2024 budget by N1.2trn – NASS

Elizabeth AtimeDecember 30, 20233 min

The representatives explained that inflation and the need for a realistic dollar exchange rate necessitated the increase of N1.2trn in the 2024 budget The National Assembly has passed the 2024 budget with an increase of N1.2trn. The lawmakers, who held a special session to pass the budget, increased the estimate from N27.5 trillion presented by President Bola Tinubu to N28.7trillion. The Senate also passed the 2024 budget with a similar raise of the estimates. Explaining...

Senate

Ways and Means: Senate approves securitisation of N7.388trn

Sharon EboesomiDecember 30, 20233 min

Tinubu assured that the interest rate on securitised Ways and Means advances has been trimmed to 9% per annum, compared to +3% on the MPR. The Senate has approved the securitisation of outstanding 7.388trn Ways and Means following President Bola Tinubu’s request. The President said the move is aimed at realising the reduction of debt service cost and to extend the repayment period of the existing loans. This was disclosed in a letter read by...

National Assembly Politics Senate

Senate passes 2024 budget, raises estimates to 28.7trn

Sharon EboesomiDecember 30, 20233 min

In passing the budget the Senate also jerked up the exchange rate for 2024 to N800 per US dollar but retained oil production and price benchmarks as proposed by President Tinubu The Senate has approved the budget for the 2024 fiscal year. The budget was, however, increased from N27.5 trillion presented by President Bola Tinubu on November 29, 2023 to N28.7 trillion. This shows an increase of over N1.2 trillion. The Senate also increased the...

House of Representatives

Reps Speaker commends OrderPaper, other partners

Elizabeth AtimeDecember 30, 20233 min

The speaker acknowledged the technical support the House of Representatives receives from OrderPaper Nigeria and other development partners The Speaker of the House of Representatives, Rep. Tajudeen Abbas has commended OrderPaper Nigeria and other development partners for their support to and collaboration with the House that has yielded some successes in the last six months of the 10th assembly. The Speaker gave the recognition on Saturday during his remarks at a special session by the...

Senate

Plateau Killings: Senate summons security chiefs

Sharon EboesomiDecember 30, 20233 min

Senators requested the ministry of humanitarian affairs to offer prompt aid and supplies to victims of the Plateau killings The Senate has summoned security chiefs to brief it on the attacks that took place during the Christmas eve in Plateau State, which led to the death of over 100 Nigerians. It summoned the Chief of Army staff, Gen. Taofeeq Lagbaja, the Chief of Air Staff, Air Marshal Hasan Abubakar and the Inspector General of Police,...

House of Representatives

FOR THE RECORD: Why the House prioritises consultations – Speaker

Newsroom MattersDecember 30, 202313 min

Remark by the Rt. Hon. Abbas Tajudeen, Speaker, House of Representatives, at the vacation of the House for the Christmas and New Year holidays on Saturday, 30th December, 2023 Honourable Colleagues, it is with a sense of gratitude, fulfilment, and pride that I address you today for the work we have collectively accomplished since the inauguration of this House on 13th June, 2023. Over the past six months, the House has been a beacon of...

House of Representatives

REPORT: 6 viral moments in 6 months of the 10th NASS

Beloved JohnDecember 29, 202317 min

The National Assembly (NASS) has clinched headlines for many reasons throughout the year. In some cases, they triggered public outrage, and healthy debates in others. From the election of the National Assembly presiding officers to the purchase of luxurious SUVs cars for lawmakers, here are 6 viral moments created by the federal legislature in the second half of 2023 The National Assembly, for many reasons, was eventful throughout 2023. It clinched headlines and generated varying...

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