A contentious debate is brewing in the House of Representatives as lawmakers prepare to deliberate on President Bola Tinubu’s $2.2 billion (₦1.77 trillion) external loan request to fund the ₦9.7 trillion deficit in the 2024 budget. The Senate has already approved the loan, leaving the House to make its decision this week. EDITOR’S PICKS Japa: … Read more
The Federal Government has proposed a 50% tax relief for companies that increase salaries or provide transportation allowances to low-income employees, as part of a comprehensive tax reform bill aiming to simplify Nigeria’s tax laws. The draft law, titled “A Bill for an Act to Repeal Certain Acts on Taxation and Consolidate the Legal Frameworks … Read more
Ex-presidential aide lauds as Otti Secures $125 Million Loan for Abia State projects. Interest-free Islamic finance promotes ethical investment, ensuring sustainable funding for Abia’s development. Utilizing Islamic finance reduces financial strain, enabling essential projects in Abia State. EKO HOT BLOG reports that Bashir Ahmad, former aide to ex-President Muhammadu Buhari, has commended Governor Alex Otti of Abia … Read more
Minister Nyesom Wike seeks House approval for N500 billion loan for FCT’s 2024 budget. Lawmaker expresses concerns over proposed borrowing, suggests exploring capital market options. Wike urges newly sworn-in FCT officials to pledge loyalty to President Tinubu’s agenda. EKO HOT BLOG reports that Minister Nyesom Wike calls for N500 billion loan approval from House for FCT’s … Read more
The Lagos House of Assembly passed a budget of N1.768 trillion for the state on December 12, 2022. The budget, which covers the 2023 fiscal year, has a capital expenditure of N1.019 trillion, representing 58 per cent of the 2023 budget. The recurrent expenditure, representing 42 per cent, is N748 billion. Eko Hot Blog reports … Read more
Nigerians have been empowered to monitor capital projects in real-time as Buhari launched the Eyemark app. Eko Hot Blog reports that President Muhammadu Buhari has said the government edged forward in promoting sustainable development by creating a digital application, Eyemark, that enables citizens to monitor and evaluate capital projects, in real-time. EDITOR’S PICKS Doyin Okupe … Read more