The Nigeria Governors Forum (NGF) has reached an agreement with the Federal Government to immediately halt deductions from state accounts for local government obligations. The Minister of Finance, Zainab Ahmed, has confirmed this decision and stated that the deducted funds will be reimbursed to the states. In addition, a new leadership has emerged through consensus, … Read more
A Court has mandated Buhari Government to provide a detailed report on the $460m Chinese loan expenditure. EKO HOT BLOG reports that the government of President Muhammadu Buhari has received a court order from the Federal High Court in Abuja, requiring them to provide a detailed report accounting for the disbursement of a $460 million … Read more
By Praise Ben With a flourish of his pen, President Muhammadu Buhari etched his signature onto the eighth and final appropriation bill presented to him by his government. The bill, however, had not come without controversy, as the National Assembly had sent him estimates that were deemed ‘unreconciled’ and ‘spurious.’ But undeterred by the strife, … Read more
The finance minister has answered questions on alleged budget padding. Eko Hot Blog reports that the Minister of Finance, Zainab Ahmed, appeared before the Nigerian Senate on Monday, and clarified a budget padding allegation. EDITOR’S PICKS My Age, Academic Records Have Been Consistent – Tinubu Atiku Endorsement: “I Didn’t Know You Had Amnesia” – Dogara … Read more
FG has blamed the State Govs for the high poverty rate in Nigeria. EKO HOT BLOG reports that the Federal Government has blamed the country’s high poverty rate on the state governments’ failure to contribute their quota of development responsibilities to the grassroots where the major production activities occur. Minister of State for Budget and … Read more
The Senate has summoned the finance minister over an unexpected N206 billion in the 2023 budget. Eko Hot Blog reports that the Senate Committee on Special Duties has summoned the Minister of Finance, Budget and National Planning, Zainab Ahmed. EDITOR’S PICKS Ekiti Assembly Impeaches Speaker, Elects Replacement LASUSTECH Clears The Air On Purported Release Of … Read more
Reps have uncovered identities of “individuals sabotaging the fight against corruption” in Nigeria. EKO HOT BLOG reports that the House of Representatives Committee on Public Accounts has alleged that some of those appointed by the President Muhammadu Buhari are working against the anti-corruption campaign of his administration. Oluwole Oke, Chairman of the committee, stated that … Read more
Moghalu says the CBN does not owe the finance minister any information regarding its plan to redesign some naira notes. Eko Hot Blog reports that a former Deputy Governor of the Central Bank of Nigeria (CBN), Kingsley Moghalu, has said the apex bank does not owe the Minister of Finance, Zainab Ahmed, any information about … Read more
The finance ministry has rejected Emefiele’s proposed policy to redesign the naira notes. EKO HOT BLOG reports that the Minister of Finance, Budget and National Planning, Zainab Ahmed Friday, renounced the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, on his proposed policy to redesign some of the nation’s currency notes on … Read more
FG has approved N470 billion for upward adjustment of lecturers’ salaries. EKO HOT BLOG reports that President Muhammadu Buhari-led government on Wednesday disclosed that it has provided N470 billion Special Fund in the 2023 budget for university revitalisation and upward adjustment of lecturers’ salaries. The approval is coming a few days after the University lecturers … Read more
Buhari Makes Fresh Appointment Ahead Of 2023 EKO HOT BLOG reports that President Muhammadu Buhari has appointed Aminu Umar-Sadiq as the new Managing Director (MD) and Chief Executive Officer (CEO) of the Nigeria Sovereign Investment Authority (NSIA). The appointment of Umar-Sadiq follows the expiration of the tenure of Uche Orji, who completed his … Read more
Petrol Subsidy Will Remain Till June 2023 – FG EKO HOT BLOG reports that the Federal Government on Monday reiterated that petrol subsidy will remain in place until mid-2023. According to the Minister of Finance, Zainab Ahmed, the government is proposing to spend only N3.36 trillion for petrol subsidy in 2023. EDITOR’S … Read more
FG Has Revealed When Fuel Subsidy Will End EKO HOT BLOG reports that the Federal Government on Thursday said it will end payments on petrol subsidy in June 2023. The Minister of Finance, Budget and National Planning, Zainab Ahmed, said this on Thursday during an inquiry by the House of Representatives Committee over … Read more
Subsidy or under-recovery is the underpriced sales of premium motor spirit (PMS), better known as petrol The Minister said subsidy payment projection is based on two prevailing scenarios — business-as-usual or reform EDITOR’S PICK INEC Declares PDP’s Adeleke Osun Gov-Elect Yemi Osinbajo Undergoes Leg Surgery Governor Sanwo-Olu Charges Officials Over Poaching Of State Athletes EKO … Read more
The suspension is the latest in the ₦80 billion scandal involving the Accountant General who was arrested by the Economic and Financial Crimes Commission (EFCC) on Monday According to the minister, during the suspension period, which is without pay, Idris is not “expected to attend to your place of work or contact any official in … Read more
Aisha Buhari, First Lady of the Federal Republic of Nigeria on Wednesday is spotted at the plenary sessions in both the Senate House of Assembly and the House of Representatives. EKO HOT BLOG reports that the First Lady is at the plenary to throw her weight behind an item for amendment in the 1999 constitution … Read more
The House of Reps Committee investigating the incessant corruption rocking various department heads has resolved to summon the Secretary to the Government of the Federation, Boss Mustapha, heads of Ministries, Department, and Agencies (MDAs). The House is seeking clarification of the high level of corruption rocking the MDAs. EKO HOT BLOG reports that the committees … Read more
The proposed increase in the price of petrol had been met with outrage from individuals and groups… EKO HOT BLOG reports that amid the controversy trailing the planned fuel subsidy removal, Femi Adesina has insisted that the Federal Government did not rescind its decision because of the forthcoming elections. Adesina, the President’s Special Adviser on … Read more
The NLC leadership recently kicked against the proposed increase in the price of petrol EKO HOT BLOG reports that the Nigeria Labour Congress (NLC) insists its planned nationwide protest on Thursday, January 27, 2022 will hold as scheduled despite an announcement by the Federal Government that its plan to remove fuel subsidy has been halted. … Read more
…the Minister of Finance said her ministry consulted widely and discovered that the federal government cannot go ahead with the removal plans… EKO HOT BLOG reports that the Federal government on Monday said there won’t be any removal of fuel subsidy anytime soon as a result of perceived difficulties associated with it. Minister of Finance, … Read more