President Bola Ahmed Tinubu is currently presiding over a Federal Executive Council (FEC) meeting at the Council Chamber of the Presidential Villa in Abuja. EKO HOT BLOG reports that reliable sources indicate that today’s meeting may be the final session for the year, with discussions expected to include preparations for the presentation of the 2025 … Read more
The Senate plenary on Tuesday saw a heated confrontation between Senate President Godswill Akpabio and Senator Ahmed Aliyu Wadada (SDP, Nasarawa West) over claims regarding the operational status of the Port Harcourt refinery. EKO HOT BLOG reports that the Nigerian National Petroleum Company Limited (NNPCL) had announced last week that the refinery had resumed operations. However, … Read more
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
The House of Representatives on Wednesday directed its Committees on Finance and Petroleum (Upstream and Downstream) to investigate reports from the Revenue Mobilisation Allocation and Fiscal Responsibility Commission alleging that the Nigerian National Petroleum Company Limited (NNPCL) withheld ₦8.48 trillion as claimed subsidies for petrol. EDITOR’S PICKS Japa: Russia Opens Doors to Migrants Amid Workforce … Read more
President Bola Tinubu has submitted a request to the National Assembly for approval of a fresh external borrowing plan amounting to ₦1.767 trillion. The loan is intended to partially bridge the ₦9.7 trillion budget deficit in the 2024 appropriation act. The Speaker of the House of Representatives read the president’s request during Tuesday’s plenary. If … Read more
President Bola Tinubu is expected to present the 2025 budget proposal, recently approved by the Federal Executive Council (FEC), to the National Assembly today, Friday, November 15. The federal government has proposed ₦47.9 trillion for the 2025 fiscal year, including ₦9.22 trillion in new borrowing, which was approved during the FEC meeting on Thursday at … 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
As the National Assembly resumes today (Tuesday) from its annual recess, Senate Leader Opeyemi Bamidele announced on Monday that both chambers are expecting President Bola Tinubu to present the 2025 budget alongside the new Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper. In a statement personally signed by Bamidele, he emphasized the importance of … Read more
Nigeria has proposed N11 trillion new loan EKO HOT BLOG reports that the Minister of Finance and National Planning, Zainab Ahmed, has said the federal government will borrow over N11 trillion and sell national assets to finance the budget deficit in 2023. EDITOR’S PICK JUST IN: A’Court Reinstates Oborevwori As PDP Guber Candidate … Read more
By Ademola Orunbon Ogun State Government has met with Transition Chairmen and other Stakeholders across the 20 Local Government Areas of the State in compliance with the State Fiscal Responsibility Act (2020). The Chief Economic Adviser and Commissioner for Finance, Mr. Dapo Okubadejo while declaring open the consultative meeting with the Local Government Heads towards … Read more
The Federal Executive Council on Wednesday approved the 2021-2023 Medium Term Expenditure Framework and Fiscal Strategy Paper with N12.66 trillion budget projection for each of the three fiscal years. The approval was presented at a virtual meeting of the council presided over by President Muhammadu Buhari. The Minister of State for Finance, Budget and National … Read more
The Speaker of the House of Representatives, Femi Gbajabiamila, on Monday, called on the executive to ensure the quick submission of the 2020 to 2022 Medium Term Expenditure Framework (MTEF) to the National Assembly. Mr Gbajabiamila, who made the call when he received the Secretary to the Government of the Federation (SGF), Boss Mustapha, in … Read more