Showing posts with label budget. Show all posts
Showing posts with label budget. Show all posts

Friday, May 23, 2014

President GEJ signs 2014 budget into law

The 2014 budget has been signed into law by President Goodluck Jonathan. The president signed the budget into law today, May 23rd, after the statutory process of legislative scrutiny was completed.  Coordinating Minister for the Economy and Minister of Finance Dr Ngozi Okonjo Iweala, and the DG of the Budget Office are expected to deal with the press later today on the budget signing

Saturday, October 26, 2013

Oduahgate: 'Ministry jerked up car budget" says Former NCAA boss


ABUJA— IT was revelations galore, yesterday, as former Acting Director-General of Nigeria Civil Aviation Authority, NCAA, Mr Joyce Nkemakolam told House of Representatives members how the approved budget of N240 million for cars was jerked up to N643 million by the Ministry of Aviation.
Continue after the break.

Saturday, October 12, 2013

VIDEO: "30% of Annual Budget for Education" - ASSU President ( Do you support him?)

Thursday, September 26, 2013

University Don Urges FG To Dedicate 36 Per Cent of Budget To Education

An educationist, Abiola Awosika on Tuesday urged the federal government to dedicate 35 per cent of its budget to education to ensure that the country meets the international educational standard.
Speaking during a programme on Channels Television, the education professor said she had written an academic article in 1992, recommending that 25 per cent of Nigeria’s budget be dedicated to education because “we had a shortfall and we needed to catch up with the rest of the world”.
Continue after the break.

Wednesday, March 13, 2013

Senate Receives Signed Copy Of 2013 Budget From Jonathan

The Senate today confirmed receipt of the signed 2013 budget from President Goodluck Jonathan.
Senate Spokesman Enyinnaya Abaribe, who confirmed this to journalists in Abuja, said copies of the signed budget were already with all the senators.
Abaribe, who noted that the president was yet to seek an amendment to the budget, however assured that should he do so, the Senate would work on it.
He said within the next few days, all the senators would critically look at the details of the signed budget to be sure that it is in tandem with the one passed by the National Assembly.
According to Abaribe, “every budget is an organic system which means that necessarily, there will be corrections and those corrections come through another appropriation bill that will be sent as a supplementary bill. That is the only way I know that an amendment of the budget can be done. If we get such a supplementary bill, we are going to work with it.”

Tuesday, February 19, 2013

It Is Now Illegal For Jonathan To Sign 2013 Budget

With the lapsed deadline of 30 days which President Goodluck Jonathan had as dictated by the Constitution to sign the 2013 Budget into the law, it has now become illegal for the President to do so.
This was the view of legal practitioner, Fred Agbaje, who made this known on our breakfast programme Sunrise Daily while discussing the lingering controversy over the passage of the 2013 Appropriation Bill.

Saturday, February 16, 2013

Oteh: Senate Sings New Tune Over SEC budget

The Senate sang a new tune on Friday when it reacted to the decision of the Board of the Securities and Exchange Commission to approve the 2013 budget of the commission without recourse to the National Assembly.
The board approved the budget, ignoring the joint resolution of the Senate and the House of Representatives demanding the sacking of the Director-General of the commission, Ms. Arunmah Oteh, on the grounds that she was not qualified to be appointed as the DG.
The resolution was later incorporated in the 2013 Appropriation Bill passed by both chambers on December 20, 2012.
Clause 10 of the bill  disallowed SEC from making any expenditure this year without the prior authorisation of the National Assembly.

Sunday, January 20, 2013

Lagos scores 2012 budget 89%

Lagos State Government has put the performance of 2012 budget at 89 per cent. It added that the performance was the highest since the inception of Governor Babatunde Fashola administration in 2007. A statement on Saturday by Lagos Governor Special Adviser, Media, Hakeem Bello, said Fashola spoke after the first  session of the three-day Executive Council/Permanent Secretaries Retreat at Lekki with the theme, ‘Enhancing Effective and Efficient Service Delivery in Lagos State.’
He said, “This improvement is the fulfilment of the promise we made during the third budget. It is also due to availability of resources and hard work.

Thursday, December 27, 2012

Niger budget $4m for Nations Cup

Niger national team have budgeted $4m for next month’s Africa Cup of Nations in South Africa, officials have said. Top Niger FA official Sani Mohamed told that this budget is more than double what the country spent on their debut appearance at the competition when it held earlier this year in Equatorial Guinea/Gabon. “We are hopeful our budget of about $4m will be approved by government. This is more than twice what we spent for the 2012 Nations Cup.

Friday, December 14, 2012

Nigerian Senate Passes N161.6 Billion Supplementary budget for oil subsidy

The Senate on Thursday, passed the supplementary appropriation bill of N161.6 billion. The amount will serve as payment for fuel subsidy to oil marketers for 2012. President Goodluck Jonathan had on Tuesday sent a request to the National Assembly to approve an additional N161.6 billion to ensure steady supply of petroleum products during the festive season. Senate President, Sen. David Mark, however, decried the high level of corruption being perpetrated under the fuel subsidy scheme, the News Agency of Nigeria reports.

Tuesday, December 4, 2012

FG slashes EFCC’s budget by 50%

ABUJA— Economic and Financial Crimes Commission, EFCC, may be crippled next year if the Federal Government’s slashing of its 2013 budget proposal by N11.7 billion sails through the National Assembly.
Already, EFCC Chairman, Ibrahim Larmode, has expressed concern that the development might prevent the agency from meeting its personnel cost in 2013.  The anti-graft agency had proposed N21,028,488,772 billion to fund its operations in 2013, but the Budget Office approved N9,328,159,022 billion, less than half of the commission’s request to meet capital, personnel and overhead expenditure items next year.

Thursday, October 25, 2012

FG releases N300bn for 2012 budget’s capital projects

The Federal Government has released N300 billion for capital projects under the 2012 budget to Ministries, Departments and Agencies.

The fund, which was released on Thursday, is for quarter four and raises capital votes released so far under the budget to N1.01 trillion.

The latest release was contained in a statement by the Senior Special Assistant (Communications) to the Finance Minister, Mr. Paul Nwabuikwu.

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Stranded commuters at Alausa...on Wednesday

Source : punchng[dot]com

Monday, October 22, 2012

2013 budget: More of the same

BY President Goodluck Jonathan’s reckoning, his spending plan for the 2013 fiscal year “belongs to the farmer, the investor, the entrepreneur, the youth and the elderly.” But a perusal of the document tagged, Fiscal Consolidation with Inclusive Growth, shows that not much is visible in terms of “improving the business climate, addressing infrastructure gaps, and implementing reforms that promote sectors with high employment potential.”

Thursday, October 18, 2012

2013 budget is prudent, reasonable, says finance minister

Minister of Finance, Dr. Ngozi Okonjo-Iweala, on Thursday allayed fears about the workability of the ministry’s 2013 budget.
In a statement by her spokesman, Mr. Paul Nwabuikwu, the minister said the presentation of the national budget by President Goodluck Jonathan in October was the earliest in recent memory.
She also said criticisms of the ministry’s aspect of the budget were unwarranted.

Sunday, October 14, 2012

2013 budget: Implementation, bench mark controversies

President Goodluck Jonathan, after the disagreement with the National Assembly on the budget bench mark of $75 per barrel (bpd) of crude oil, presented a financial document of N4.92 trillion as aggregate expenditure for 2013 fiscal year. The document shows an increase of about 5 per cent over the N4.7 trillion appropriated for 2012, which is made up of N380.02 billion for Statutory Transfers, N591.76 billion for Debt Service, N2.41 trillion for Recurrent (Non-Debt) Expenditure and N1.54 trillion for Capital Expenditure.The appropriation bill increased spending by 5 percent from this year’s N4.697 trillion but shrunk the deficit and cut the

Wednesday, October 10, 2012

Jonathan presents N4.92 trillion budget for 2013

President Goodluck Jonathan on Thursday in Abuja presented a budget of N4.9 trillion for the 2013 fiscal year, representing a five per cent increase to that of 2012 which was N4.7 trillion.

Jonathan said the budget titled, “Budget of Fiscal Consolidation with Inclusive Growth,” was premised on an oil benchmark of $75 per barrel in a volatile oil market.

The breakdown revealed Works got N183.5 billion, Power N742.6 billion, Education N426.5 billion, Health N279.23 billion, Defence N340.91 billion, Police N319.65 billion, Agriculture and Rural Development N81.41 billion.

He said the machinery and spare parts imported for local sugar manufacturing industries would attract zero per cent duty starting from January 2013.

The president said that the import duty for rice would also be increased to encourage local production.

“There will also be a five year tax holiday for sugar-cane and sugar value chain investors.

“A 10 per cent import duty and 100 per cent levy will be applied for both polished and brown rice,” he said.

On oil and gas, Jonathan said efforts were being made to restructure the sector for improved performance.

“The oil and gas sub-sector requires a lot to sustain and ensure improvement.

“We shall, therefore, complement available resources with the proposed infrastructure Euro bond of about one billion dollar in order to complete gas pipeline and other infrastructure investment,” he added.

Jonathan said all commercial aircraft and spare part imported into Nigeria would attract zero per cent duty and zero per cent tax.

According to him, this will applicably improve safety in our skies and ease maintenance.

He said machinery and equipment imported for use in solid minerals would attract zero per cent import duty and zero per cent tax.

On mass-transit, he noted that all components for buses of 40 -seater would attract zero per cent tax down from five per cent so as to encourage the production of mass-transit buses.

“Government is desirous of encouraging green growth and in this regard, we will provide incentive for energy efficient vehicles in the 2014 fiscal year,” Jonathan said.

The president said his government was working at empowering women through five pilot ministries, Agriculture, Health, Communication technology, Water Resources and Works.

“The Ministry of Agriculture will work with the Ministry of Information and Communication Technology to ensure that five million women farmers and agricultural entrepreneurs receive mobile phones to be able to access information on agriculture through an electronic wallet scheme.’’

Jonathan also said N3 billion would be disbursed for routine immunisation.

He said the number of women employed as contractors would be increased by giving them 35 per cent of FERMA rehabilitation works.

According to him, the regime is disappointed with the performance of the nation’s athletes at the just concluded Olympics, but impressed with the performance of the Paralympians.

“We will soon hold a retreat on sports and how to move it forward.’’

He said that his administration had attracted N7. 8 billion investment commitment to the agriculture sector and that an extra 2.5 million jobs would be created in 2015.

The president said government was working toward optimal implementation of the budget in order to save cost.

Jonathan appealed to the National Assembly and Nigerians to support the administration in realising the objectives of the budget.

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Source : punchng[dot]com


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