Financially
Lagos financially, economically viable – official
Contrary to the publication by BudgIT, a public finance analyst, the Lagos State Government said it is economically and financially solid. The state Commissioner for Finance, Dr. Rabiu Olowo, made the assertion in a statement on Monday in reaction to BudgIT, publication, titled: ‘Ability of States to Meet Monthly Recurrent Expenditure and Loan Repayment Obligations, 2019’, which the state Governor, Babajide Sanwo-Olu, administration described as “misinformation”. According to Olowo, BudgIT has apologized for its error in the report. According to Olowo, the facts are: “Lagos State continues to meet all its recurrent and loan service obligations and the information that was published in incorrect, inaccurate and a gross distortion of the actual facts. “The accurate information that ought to ...
PPPRA: Previous administrations spent N8.9 trillion on subsidy in 10 years
The Petroleum Products Pricing Regulatory Agency, PPPRA, yesterday, disclosed that N8.9 trillion was spent on fuel subsidy by the Federal Government, mainly by previous administrations, between 2006 and 2015. According to data released to support the need for deregulation of the downstream petroleum industry, the PPPRA stated that the bulk of the sum was expended between 2011 and 2015, where N6.7 trillion, representing 74.8 per cent of the total were spent on subsidy. Giving a breakdown of the figure, the PPPRA disclosed that N257.36 billion, N271.51 billion, N630.57 billion, N409.31 billion, and N667.08 billion were spent on fuel subsidy in 2006, 2007, 2008, 2009, and 2010, while in 2011, 2012, 2013, 2014 and 2015, fuel subsidy gulped N2.1 trillion, N1.35 trillion, N1.32 trillion, N1.22 t...
Nigerian government not financially able to pay subsidy – minister
Minister of State for Petroleum Resources, Chief Timipre Sylva, Thursday, disclosed that the Federal Government was not currently capable, financially, to pay the subsidy. Addressing newsmen men in Abuja, Sylva disclosed that since the introduction of the deregulation policy, the country has saved about N1 trillion. He further disclosed that the Federal Government has concluded plans to merge the Petroleum Products Pricing Regulatory Agency, PPPRA, and the Petroleum Equalisation Fund, PEF, into one agency called The Authority. Get more stories like this on Twitter 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 ...
