ABUJA — The senate committee on finance has said the 2022 budget did not include the N5,000 transportation grant proposed for N40 million poor Nigerians. A few days ago, the minister of finance, budget, and national planning, Zainab Ahmed, had announced that the country would remove petrol subsidy by 2022 and replace it with an N5000-a-month transportation grant to the poorest of the country’s population. However, the senate committee argued that there is no provision...

ABUJA — President Muhammadu Buhari has again shown that he is a compassionate leader with his approval of a 4th multi-billion naira bailout for states in six years. The Buhari Media Organisation said in a statement signed by its Chairman Niyi Akinsiju and Secretary Cassidy Madueke, that the decision to disburse N656billion to be shared among the 36 States as budget support facility was totally unexpected. According to the group, “we were pleasantly surprised when...

A sum of N5000 will be given to citizens monthly for transportation when fuel subsidy is removed according to Zainab Ahmed, minister of finance, budget, and national planning. The minister disclosed that the FG intends to remove fuel subsidies by 2022 and replace them with a N5000-a-month transportation grant to the poorest Nigerians. Speaking at the launch of the World Bank Nigeria Development Update (NDU) on Tuesday, the minister explained that the grant will go...

LAGOS — Some financial analysts have urged the Federal Government to tackle the supply-side constraints in the productive sector to further reduce the country’s inflation rate. They said this in separate interviews with the News Agency of Nigeria (NAN) on Saturday in Lagos. They said that supply-side constraints such as foreign exchange illiquidity, transport, and logistics cost, currency depreciation, and agriculture-related insecurity, and others were the driving forces of inflation. Mr. Titus Okurounmi, a former...

LAGOS — Senate President Ahmad Lawan has disclosed that the National Assembly will pass the 2022 Appropriation Bill before Christmas. Lawan made the disclosure on Friday night, while receiving the New Telegraph’s Lifetime Achievement Award in Politics, alongside other Nigerians who had distinguished themselves in public service and the private sector. “ This is my fourth term in the Senate; when we came in 2019, our colleagues decided to give us the opportunity to serve...