-
What Nigeria States Are Proposing For 2023
With almost 40 days into the new year, state governors are already setting the estimation for their financial expenditure. Being an electioneering year, some state governments might either hand over to a new government or transition into another tenure. However this turns out, the budget provides the expenses that the state would be allocating for…
-
Nigeria Records N5.33tn Deficit In Eight Months
During the ministerial presentation of the 2023 budget, the Minister of Finance, Budget and National Planning, Dr Zainab Ahmed, said that the Federal Government has recorded a deficit of N5.33 trillion between January and August 2022, which is N430.82 billion above the prorate level. The government spent N9.56 trillion from January to August 2022, out…
-
Nigeria’s Special Projects Spending To Rise By 68%
Nigeria’s spending on special projects targeted at stimulating economic growth is projected to rise to N7.7 trillion by 2025. This is about 68.1 percent from N4.58 trillion in 2021. The funding programme will be by sovereign guarantees under a Public-Private Partnership (PPP). The cost is tied to funding projects, including the Federal Capital Development Authority’s…
-
Investigation: Cross River Communities Battle With Water Scarcity In The Midst Of Failed Water Projects (Part 1)
The Ifako Okoyong community, like several others in Cross River State, is littered with water scheme projects but the people are unable to access potable water for years.. Kehinde Ogunyale reports. Mary Ekpang goes through frustration in search of water every day. She treks several kilometers to a local stream for drinking and cooking water.…
-
Nigeria Loses N2.8tn Independent Revenue In Six Years
Nigeria has recorded a shortfall of N2.8 trillion in independent revenue from the federal government revenue generating agencies between 2015 and 2020. An analysis of data from the Budget Office has shown that over the years, many of these agencies have been underpaying revenue into the coffers of the Federal Government, thus making it difficult …
-
National Assembly Increased Budget By N1.92tn In Six Years
Between 2017 and 2022, the Nigerian National Assembly had increased the budget expenditure by a total of N1.915 trillion. While several controversies– including budget padding, repetition of projects, unnecessary allocation of funds– trail these increases yearly, the legislators have increased the budget by an approximate average of 0.31 billion yearly. Despite this increase, NASS, in…
-
In 72 Months, Presidency Spent N34bn On Food, Travels
According to data obtained from the appropriation bills of the Federal Government, the Presidency’s budgetary allocations for food and travels hit N34bn in six years. A total of N5.16bn was spent on food and N28.94bn on travels. The allocations for food include foodstuff/catering materials supplies, refreshment and meals, and cooking gas/fuel cost, while the allocations…
-
Budget Presented, Signed From 2016 Till Date
President Muhammadu Buhari has presented a total of N54.41 trillion as proposed budget between 2016 and 2021. However, between 2016 and 2021, a total of N55.71 trillion has been approved. This implies that the National Assembly has raised the budget, within the period under review, by N1.3 trillion. Recall that due to the COVID-19 pandemic…
-
Universities Threaten Strike Over Staff Retrenchment
The Senior Staff Association of Nigeria Universities (SSANU), has advised the Federal Government of Nigeria to review the circular directing that workers of the Staff schools should not be captured in the 2022 budget. The Senior Staff Association of Nigerian Universities (SSANU) is a trade union of senior non-teaching employees of Nigerian universities. Like other trade unions…