Sen. Ndume asks Buhari to Establish a Budget Impact Assessment Office

Sen. Ali Ndume, (APC-Borno) has called on President Muhammadu Buhari to establish a Budget Implementation and Impact Assessment office so that he could monitor the releases of funds and performance of his cabinet members. Ndume, Chairman of the Senate Committee on Nigerian Army, made the call while fielding questions from journalists on Monday, in Maiduguri. “Buhari is a good leader but quite a number of his cabinet members are not doing enough to reposition the...

Gov. Zulum Signs Borno N248bn 2021 Budget into Law

Gov. Babagana Zulum of Borno on Monday signed the state N248 billion 2021 budget into law. Speaking at the ceremony in Government House, Maiduguri, Zulum charged all government ministries, departments and agencies to comply strictly with the provisions of the budget. The governor expressed appreciation to the state House of Assembly for the speedy passage of the budget. Zulum said that his administration would continue to place a priority on security, education, healthcare, agriculture and...

CBN Defends Naira with $4.37bn in the Third Quarter of 2020

The Central Bank of Nigeria injected $4.37bn in the foreign exchange market in the third quarter of 2020 as part of efforts to ensure the stability of the naira. This was disclosed in the third-quarter economic report. The bank added that through its periodic interventions in the forex market, it continued to boost the supply side of the market, as the private sector supply chain segment of the market is weakened by the COVID-19 crisis....

African Nations Begin Trading Under AfCFTA Pact

African Union (AU) Chairperson Cyril Ramaphosa and Ethiopian Prime Minister Abiy Ahmed have congratulated Africans for starting trading under the African Continental Free Trade Area (AfCFTA). Abiy tweeted: “Congratulations to our continent for the beginning of trading under AfCTA. The new frontier for Africa is indeed regional integration, where minds are open to ideas and markets are to trade. Trade defuses the most fraught relations and integrated markets generate prosperity.” South African President Ramaphosa said:...

Buhari Signs 2021 Appropriation Bill into Law

President Muhammadu Buhari on Thursday, signed into law, the 2021 Appropriation Bill. The brief signing ceremony was done inside the President’s office at the Presidential Villa, Abuja. On Monday, the National Assembly passed ₦13.58trn budget for the next fiscal year. The Buhari led administration had desired to restore the budget of the country to January to December cycle. All Progressive Congress-led government achieved this with the 2020 budget as Buhari signed the document into law...

Gov. Ayade Signs 2021 Appropriation Bill of N281.9bn into Law

Gov. Ben Ayade of Cross River on Wednesday signed the state’s 2021 budget of N281.9 billion into law. The budget has N192.5 billion representing 67 per cent earmarked for recurrent expenditure, while the sum of N88.196 billion representing 33 per cent was for capital spending. Speaking at the signing ceremony held at the Governor’s office, Calabar, Ayade said that there was provision for the establishment of a state polytechnic in the budget. He added that...

Lagos Assembly Passes N1.163trn 2021 Budget

The Lagos State House of Assembly on Tuesday passed the 2021 Appropriation Bill of N1.163 trillion, seven weeks after the budget was presented to the Assembly by Gov. Babajide Sanwo-Olu. The House passed the budget after the report of the appropriation was presented during plenary by the Chairman, Joint Committee on Economic Planning and Budget and Finance, Gbolahan Yishawu (Eti Osa II). The News Agency of Nigeria (NAN) recalls that Gov. Sanwo-Olu had on Nov....

Enugu State House of Assembly Pass 2021 Budget Of 169.8 Billion Naira

After the presentation and adoption of report of the House Committee on Finance and Appropriation, the Enugu State House of Assembly on Tuesday passed the 2021 Appropriation bill. In his presentation, Ezeani Ezenta, committee chairman said the budget estimate took full cognizance of the yearnings, aspirations and prayers of the people on the impacts of Covid-19 and the national ENDSARS protest witnessed in 2020. Ezenta further disclosed that the Economic and Social Sectors received 61.9...

We Will Wrestle food Inflation in 2021, Buhari Assures Citizens

President Muhammadu Buhari has assured Nigerians that his administration will keep a keen eye on food inflation in the New Year. Malam Garba Shehu, the President’s Senior Special Assistant on Media and Publicity, in a statement, said Buhari gave the assurance at the fifth regular meeting with the Presidential Economic Advisory Council held on Tuesday at the State House, Abuja. Buhari directed that the CBN “must not give money to import food. Already, about seven...

Trump Makes U-turn, Signs $900bn COVID-19 Relief Package

U.S. President Donald Trump on Sunday night said he had signed the $900 billion (N349.2 trillion) coronavirus relief package. The action came just hours before a government shutdown, and days after the president opposed the bill over “wasteful and unnecessary items’’. In a statement, Trump called on Congress to make more amendments to reduce excess spending and expunge the “wasteful items”. “I will sign the Omnibus and COVID package with a strong message that makes...

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