Expenditure
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...
Ayo Fayose: President Buhari must account for $1 billion taken from excess crude account
Former Governor of Ekiti State, Ayodele Fayose has queried President Muhammadu Buhari to account for the $1 billion withdrawn from the Excess Crude Account (ECA) to battle insecurity in the country. However, newsmen found that the call may be superfluous as government rendered an account on 22 July. Oblivious of this, Fayose, in series of tweets appeared to suggest that the money had been wasted, because of the rising killings and kidnappings being witnessed on daily basis. “Nigerians should recall that I took a stand openly against withdrawal of the $1bn,” he said. According to Fayose, 30 months after the $1bn was released, Nigerians, including soldiers and FG officials were complaining of no arms and ammunition to combat insecurity in the country. “When in December 2017, FG took $1bn fro...
Ogun governor presents N339 billion 2021 budget proposal
Gov. Dapo Abiodun of Ogun, on Wednesday, presented a budget proposal of N339 billion for the 2021 fiscal year to the state House of Assembly, with N177 billion earmarked for capital expenditure. Newsmen report that the budget, christened “Budget of Recovery and Sustainability,” also has N162 billion proposed for recurrent expenditure. The governor said that an estimated N119 billion was projected as internally-generated revenue for the state, with statutory allocation expected to be N59 billion. He stated that capital receipt, which included internal and external loans as well as grants and aids, stood at N142 billion. The governor stated that personnel cost remained the largest single item of expenditure, adding as at Oct. 31, it accounted for 35.5 percent of the total government spending...
2021 budget: Nigerian government to feed, deworm children with over N142 billion
In 2021, under the Home-Grown School Feeding (NHGSFP), the federal government has penned N142.3 billion to feed 9.86 million children, deworm seven million children and recount the pupils. The post 2021 budget: Nigerian government to feed, deworm children with over N142 billion appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
Edo governor presents N153.4 billion 2021 budget
Governor Godwin Obaseki of Edo State on Tuesday presented a budget of N153.4 billion for 2021 to the state House of Assembly for approval. Presenting the budget christened ‘MEGA Budget ‘, Obaseki said that it was made up of N94.8 billion recurrent expenditure and N58.6 billion capital expenditure. “Mr Speaker, you will note that the recurrent component is larger than the capital. It is to help us deal with the social and economic consequences of COVID-19. “The total receipts of N153 billion expected for 2021 comprise of N71 billion from the federation account and N36 billion Internally Generated Revenue (IGR). “We also expect N9.8 billion from aids and grants; most of them have already been finalised. We expect to raise N15.3 billion as loan and 13.8 billion as capital development fund rec...
Northeast elders asks President Buhari to sack service chiefs
The Coalition of North East Elders for Peace and Development, Monday asked President Muhammadu Buhari to sack his service chiefs, accusing the military of deploying massive strength during the #EndSARS protests in parts of the country, thereby leaving the zone at the mercy of Boko Haram, an Islamic State of West Africa Province (ISWAP) terrorists. According to the elders, scores of civilians were killed as a result of the strategic and operational blunders, which they argued, was avoidable, had greater tact been adopted. In a statement signed by the chairman, Engr. Zana Goni, the North East elders said pro-active intelligence would have revealed this lapse to the military high command, had the service chiefs not been lethargic in their responsibilities. Consequently, the elders, for the um...
36 states sue federal government, demand funding of state courts
The 36 states governors, through their respective Attorneys General and Commissioners for Justice, have dragged the Minister of Justice and Attorney General of the Federation, AGF, Mr Abubakar Malami, SAN, before the Supreme Court over the failure of the Federal Government to fund the courts in the country with recurrent expenditure since May 5, 2009. It will be recalled that President Muhammadu Buhari, had in May 2020, signed Executive Order 10, which gave financial autonomy to the legislature and judiciary at the state level. The state governors argued that the Federal Government should also fund state courts if the president must make such order. The plaintiffs in the suit against the AGF, through their counsel, Mr Augustine Alegeh, SAN, are contending that the respondent refused to fun...
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