The Federal Government, through the National Bureau of Statistics (NBS), announced that road tax collections across Nigeria surged to N40.14 billion in 2023, marking a 63.36% increase from the N24.57 billion collected in 2022. This sharp rise in revenue highlights the growing contribution of road taxes to state-level funding. EDITOR’S PICKS NASU, SSANU Strike Nears … Read more
The Senate has announced that the Federal Government is expected to submit the Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) once President Bola Tinubu returns from his overseas trip. The MTEF is a key legal document that sets the budgetary guidelines for the nation and is traditionally submitted to the parliament before … Read more
The Federal Government has unveiled plans to roll out cash transfers aimed at supporting 20 million of Nigeria’s poorest citizens as part of its broader social intervention program. The initiative, designed to alleviate poverty and improve living conditions, is a key component of the government’s strategy to address the economic challenges facing the country while … Read more
The Federal Executive Council (FEC) has given its approval for the Economic Stabilization Bills (ESB), marking a significant step in the government’s Accelerated Stability and Advancement Plan. This decision was reached during the council’s 18th meeting, chaired by President Bola Tinubu at the Aso Chambers of the State House in Abuja. The ESB, based on … Read more
The Nigerian National Assembly passed a bill to increase the Central Bank’s loan limit to the Federal Government from 5% to 10% of annual revenue. EKO HOT BLOG reports that the two chambers of the National Assembly passed a bill on Wednesday to increase the percentage of Ways and Means loans the Central Bank of Nigeria … Read more
Eko Hot Blog reports that the presidency has on Thursday has declared that some leaked documents on fiscal policy proposals by the federal government, which have gone viral on social media do not reflect the official position of the government on such matters. The presidency, in a statement issued by the Special Adviser to President … Read more
Labour Party renames ‘Obidient’ directorate after backlash from over 200 support groups. Support groups accused LP leadership of undermining the movement’s independence. LP’s National Publicity Secretary announced the renaming decision in response to the controversy. EKO HOT BLOG reports that the Labour Party (LP) leadership has renamed the ‘Obidient’ directorate following backlash over its naming and … Read more
Tinubu Eyes Import Duty Suspension On Food, Drugs, and essential commodities for six months to tackle inflation. Proposed Executive Order also includes waiving levies on fertilizers, poultry feed, flour, and grains, and offering low-interest loans to agriculture, pharmaceutical, and manufacturing sectors. Plan contradicts earlier statements by Tinubu on food imports, emphasizing domestic production to address … Read more
EKO HOT BLOG reports that the Federation Account Allocation Committee Disbursement reports, the Federal Government has deducted over N415 billion from state government allocations to service their external loans between 2019 and 2023. This information, published by the National Bureau of Statistics, highlights significant deductions made from state allocations from the Federation Account over the past … Read more
EKO HOT BLOG reports that the administration of President Bola Tinubu is working to reduce taxes from the current 62 to a maximum of nine, to create a more business-friendly environment in the country. Chairman, Presidential Fiscal Policy and Tax Reforms Committee, Mr. Taiwo Oyedele, disclosed this at the 2023 annual conference of Institute of … Read more
As Nigeria prepares for the inauguration of Asiwaju Bola Tinubu as the country’s 16th president, there are key things you need to know. EKO HOT BLOG gathered that ahead of the inauguration, Nigerians have called on the president-elect to take quick actions to tackle critical issues in the country’s economy, security, fuel subsidy and … Read more
President Buhari has boasted of his administration’s achievements in strengthening Nigeria’s defence system and tackling challenges. According to the president, his administration has built a firm foundation for a prosperous Nigeria through infrastructure and agriculture success. Buhari urges governors-elect to deliver on their campaign promises to avoid electoral loss, emphasizing the importance of democracy and … Read more
