Consolidated Revenue Fund
Akwa Ibom Assembly passes N456.25 billion Appropriation Bill
The Akwa Ibom State House of Assembly Tuesday passed into Law the state appropriation bill of N456.25billion for the 2021 fiscal year. The 2021 appropriation bill is broken down to of N164.52billion Recurrent expenditure, N241.45billion Capital Expenditure and N50.3billion for Consolidated Revenue Fund Charges. This is against the N435.65billion proposed by the governor, Mr Udom Emmanuel to the House of Assembly in the month of October. The bill was passed after the adoption of the report of the House Committee on Finance and Appropriation Committee, presented by the Chairman, Mr Uduak Odudoh, during Tuesday plenary. Odudoh explained that Ministries Departments and Agencies (MDAs), Non-Governmental Organisations and other relevant publics participated in the budget process before its passa...
NCC contributes N2.272 trillion to Nigeria’s GDP – chief
The Executive Vice Chairman of the Nigeria Communications Commission (NCC), Umar Garba Danbatta, has said that the contribution of the Telecommunication sector to the country’s Gross Domestic Product (GDP) has risen from 8.5 per cent in 2015 to 14.3 per cent as at September this year amounting to N2.272 trillion. Danbata disclosed this when members of the House of Representatives Committee on Telecommunication led by its Chairman, Rep. Akeem Adeyemi visited the Commission on an oversight The Executive Vice Chairman of the Commission also disclosed that Investments in the sector had risen from 38 billion dollars in 2015 to over 70 billion dollars now while the Commission had also paid over N344 billion into the Consolidated Revenue Fund of the federation within the period under review, an a...
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...
Umar Danbatta: NCC remits N362.34 billion to Nigerian government
Fix Africa News Magazine Executive Vice Chairman, Nigerian Communications Commission (NCC), Prof Umar Danbatta, says the commission remitted N362.34 billion into the Consolidated Revenue Fund (CRF) of the Federal Government between 2015 and now. At an interactive session with media managers and news editors at the weekend, he also noted that broadband penetration jumped from six per cent in 2015 to 43.02 per cent by the end of June 2020 leading to 199,307,796 by the end of the first half of 2020. According to him, the N362.34 billion was generated through spectrum fees and operating surplus, which has helped to boost the revenue-generation drive of the current administration. “The amount generated through that singular initiative has brought significant revenue to the government.” Dambatta...
