Appropriation Bill
BudgIT: Over 315 capital projects duplicated in 2021 budget
BudgIT BudgIT, a civic-tech non-profit organisation, says it has uncovered 316 duplicated capital projects worth N39.5 billion in the 2021 budget. In a statement, Iyanu Fatoba, communications associate at BudgIT, said the organisation’s findings is contained in its publication titled, “Demanding Budget Reforms for Resource Optimization”, released on Tuesday. On December 31, President Muhammadu Buhari signed the 2021 appropriation bill of N13.588 trillion into law. The signing was done more than a week after federal lawmakers passed the budget and raised its total sum by N508 billion. Speaking on the report, Gabriel Okeowo, BudgIT’s CEO, said out of the identified 316 duplicated projects, 115 are in the ministry of health. He said the development is “very disturbing” as the country is battl...
AMAC chief signs over N10 billion appropriation bill into law
AMAC Abuja Municipal Area Council (AMAC) Chairman, Abdullahi Candido, has signed the Council’s 2021 appropriation bill of over N10 billion to law. He said the legislators have in consideration of some important issues and reviewed the budget upward. Candido made this known at the AMAC Secretariat in Abuja while signing the bill into law. He, however, assured residents within the council area that the budget will give priority attention to existing projects, while also taking care of other things. Candido also appealed to Federal Capital Territory Administration (FCTA) to release shares of the internally generated revenue due to the Area Councils. He hinted that, the councils were democratically elected by the people, therefore it must be accorded all constitutional rights. According to him...
NESG: Nigerian economy to beat IMF growth forecast in 2021
The Nigerian Economic Summit Group has predicted a growth rate of 2.9 per cent for the Nigerian economy in 2021, higher than the 1.5 per cent growth rate suggested by the International Monetary Fund. The NESG identified eight key policies and events that will help shape the outlook of Nigerian economy in 2021. This is contained in the group’s 2021 Macroeconomic Outlook Report titled, “Four Priorities for the Nigerian Economy in 2021 and Beyond,” launched virtually on Tuesday. According to the report, for Nigeria’s economy to get back on track, the economy needs a high, robust and sustained economic growth that will deliver a significant reduction in unemployment and poverty. The report said the government’s most important agenda in 2021 must be to address these problems as a foundation for...
Kogi Assembly passes 2021 budget estimate of N130.54 billion into law
The Kogi House of Assembly on Tuesday passed the N130.54 billion Appropriation Bill tagged “Budget of Accelerated Recovery” into law. Newsmen report that the House considered the bill Clause-by-Clause at the “Committee of the Whole” of the House at plenary in Lokoja. Aderonke Aro (APC-Yagba West) and Chairman, House Committee on Finance, Budget Monitoring and Economic Planning, presented the committee’s report for consideration. Aro declared that Ministries, Departments and Agencies (MDAs) with genuine reasons for adjustments in their allocations were taken care of during the defence of their respective budgets. In the budget presented to the House on Dec. 1, Gov. Yahaya Bello of Kogi had said that the budget was indicative of the assessment of the amount the state could generate on its ow...
National Assembly raises 2021 budget by N580 billion, approves N13.588 trillion
The two chambers of the National Assembly yesterday passed the 2021 Appropriation Bill, increasing the budget size from N13.08 trillion presented to them by President Muhamnadu Buhari 11 weeks ago to N13.588 trillion. The passage of the 2021 budget followed consideration and adoption of harmonised reports separately submitted to them by their Committees on Appropriation. The two chambers increased the 2021 budget by about N580 billion and pegged daily crude oil production at 1.86 million barrels per day, while oil benchmark price was fixed at $40 per barrel. They approved N379 to dollar as the official exchange rate while GDP growth rate was pegged at 3 per cent. Highlights of the report approved by the Senate showed aggregate expenditure to be N13,588,027,886,175, statutory transfer of N4...
Jigawa Assembly passes 2021 Appropriation Bill
Jigawa State House of Assembly has on Tuesday passed the 2021 Appropriation Bill of N156.588 billion. This followed the adoption of a 2021 appropriation committee’s report led by the House Committee on Appreciation chairman, Hon. Suleiman Kadara, at plenary. Kadara, who is representing Guri Constituency, told the House that the committee had done justice to the appropriation bill presented by Gov. Muhammad Badaru to the house on Nov. 4. Badaru had sought the consideration of the House to appropriate the sum of N156.588 billion for the services of the Jigawa State Government during the period of Jan. 1 to Dec. 31, 2021. Of the figures, N78.346 billion was earmarked for recurrent expenditures, including provisions for contingency and stabilization funds, while N78.241 was for capital expendi...
Delta governor presents N378.1 billion 2021 budget to state assembly
Delta State Governor, Ifeanyi Okowa, Tuesday, presented a proposed budget of N378, 184,397,889 for 2021 fiscal year to the State House of Assembly. The budget is made up of N170, 370,000 for recurrent expenditures and N207.5 billion for capital expenditures. Okowa in the more than 50 minutes presentation of the Appreciation Bill at the Hallowed Chamber of the House, said the budget christened “Budget of Recovery” would be funded from four sources. The sources according to the Governor, include Internally Generated Revenue, N65.6 billion, Statutory Allocation including Mineral Revenue Derivation and Excess Crude, N219.9 billion, Value added tax, N17.5 billion and Other Capital Receipts, N17.3 billion. Explaining that the 2021 budget estimates was N96.1 billion increase over the revised budg...
