Tags : budget

Kenya Unveils Budget For The 2022/23 Fiscal Year

Kenya has unveiled a $28 billion (3.3 trillion shillings) budget for the 2022/23 fiscal year aimed at reviving the country’s economy. Treasury Secretary, Ukur Yatani, said the budget would focus on building infrastructures that would reduce the rates of unemployment and grow the economy by 6% by the end of the year. If the parliament […]Read More

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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.… You must be registered to […]Read More

Budget: Agencies Expected To Pay N22.6bn in 2022

According to data contained in the 2022 budget proposal, Deposit Money Banks and insurance companies are expected to rake in the sum of N22.6 billion in bank charges and insurance premiums from Ministries, Departments and Agencies of the Federal Government in 2022. A breakdown of the figure showed that the N22.6bn comprised N17.3bn projected for […]Read More

Nigeria’s Personnel Cost Rises by 79.48% In Four Years

According to data obtained from the budget implementation report of the Federal Government, the amount budgeted for personnel costs has increased from N2.29 trillion spent in 2019 to N4.11 trillion in the proposed 2022 budget. This shows an increase of N1.82 trillion or 79.48 percent in three years-a rise in the cost of recurrent expenditure. […]Read More

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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… You must be registered to […]Read More

Nigeria Records N1.76tn Revenue Shortfall In 6 Months

The Federal Government reported a revenue shortfall of N1.76 trillion in the first half of this year. According to a revenue performance report, obtained from the Budget office of the federation, the Federal Government’s projected revenue for the 2021 fiscal year was N7.9 trillion, of which N3.9 trillion was earmarked as pro rata target for […]Read More

FG To Borrow N4.89tn For 2022 Budget

To finance the deficit in the proposed N13.98 trillion 2022 budget, the Federal Government plans to borrow about N4.89 trillion from internal and external sources. The Minister of Finance, Budget and National Planning, Zainab Ahmed, made this known in Abuja on Monday at an interactive session organised by the House of Representatives’ Committee on Finance […]Read More

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INFOGRAPHICS: 2021 Supplementary Appropriation Bill

After a meeting at the Presidential Villa in Abuja, President Muhammadu Buhari has assented the 2021 Supplementary Appropriation Bill of N982,729,695,343 into law. This disclosure was made by the Senior Special Assistant to the President on National Assembly Matters, Mr Umar El-Yakub. El-Yakub said that the 2021 Supplementary Appropriation Act… You must be registered to […]Read More

COVID: Nigeria May Miss N2trn Oil Revenue Target

There are indications that the Federal Government may not meet the N2.01 trillion oil and gas revenue target as captured in the 2021 budget. An expert, Mr Jimi Ogbobine, Head, Agusto Consulting, who spoke at a conference convened by First Bank of Nigeria said this is due to the low energy consumption occasioned by the […]Read More