The Senate has approved the 2024–2026 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) for implementation by the Federal Government. EKO HOT BLOG reports that the approval followed the presentation of a report by the Chairman of the Joint Committees on Finance, and National Planning & Economic Affairs, Senator Mohammed Sani Musa (Niger East). … Read more
Disagreements emerged among National Assembly members on Monday over President Bola Tinubu’s requests for foreign loans, despite significant revenue surpluses reported by federal agencies for the 2024 fiscal year. The Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, revealed during an interactive session with the National Assembly’s joint Committees on Finance, Budget, and … Read more
The Senate has announced that President Bola Tinubu is expected to present the 2025 budget to the National Assembly this week, as preparations intensify for the budget’s consideration. EKO HOT BLOG reports that Senate spokesperson Yemi Adaramodu (APC, Ekiti South) disclosed that the Finance Committee would meet with Ministries, Departments, and Agencies (MDAs) on Monday to … Read more
The Nigerian Senate is set to approve President Bola Tinubu’s $2.2 billion (approximately ₦1.77 trillion) external loan request aimed at addressing the ₦9.7 trillion deficit in the 2024 budget. The request, outlined in letters presented during Tuesday’s plenary sessions of the Senate and House of Representatives, is part of the government’s external borrowing plan … Read more
The Federal Government has proposed a five percent excise duty on telecommunications services, gaming, and betting activities as part of a new bill aimed at overhauling Nigeria’s tax framework. Titled “A Bill for an Act to Repeal Certain Acts on Taxation and Consolidate the Legal Frameworks Relating to Taxation and Enact the Nigeria Tax Act … Read more
EKO HOT BLOG reports that the House of Representatives has set a 48-hour deadline for the Industrial Training Fund (ITF) to account for the N3 billion linked to the agency. During its ongoing examination of the Medium-Term Expenditure Framework and the Fiscal Strategy Paper, the House of Representatives issued a strict 48-hour deadline on Monday … Read more