Economic recovery plan to check govt spending

The federal government has said its national economic recovery plan for the next three years, would among other things, guide the country’s economic management and budgeting process over the short to medium-term.
Minister of State for Budget and National Planning, Hajia Zainab Ahmed, who a [...]

Sat, 05 November 2016

Proposed $30bn external loan has better repayment arrangement - DMO

The Debt Management Office, DMO, have said the repayment arrangement for the $29.9billion external loan proposed by President Muhammadu Buhari is more convenient compared to previous loans.
Director General of the debt office, Dr. Abraham Nwankwo, while providing clarifications on the latest for [...]

Sat, 05 November 2016

Pension assets rise by N100bn in 3months

Approximately N100billion was generated in the country’s Contributory Pension Scheme, CPS, in a single quarter, thereby increasing its total assets to N5.9trillion as at the end of September 2016.
The latest figure disclosed by the National Pension Commission is an increase over the N5.8tr [...]

Sat, 05 November 2016

NASS to scrutinize account books of revenue generating agencies

The National Assembly has asked for detailed breakdowns of all revenue generated by agencies of government in 2016, to enable them assess budget performance in the year. 
Chairman of the Senate Committee on Finance, Sen. John Enoh, last week, directed the Accountant-General of the Federatio [...]

Sat, 05 November 2016

Expert calls for review of nation’s tax policy

The chairman, Kwara State Internal Revenue Service, KWIRS, Dr. Muritala Awodun, has said that Nigeria will be great if current tax policy in Nigeria is review to ensure more tax revenue is derived from wealthy individuals and corporate organizations to fund development projects and infrastructures.

Sat, 29 October 2016

Telecom operators faults NCC’s 2.6GHz spectrum auction

Some telecommunication operators in the country said they stayed away from the recent auction for spectrum license, to protest what they believe was pre-arranged to allow big operators win the license.
The Nigeria Communications Commission, NCC, had in June this year, announced MTN Nigeria as th [...]

Fri, 28 October 2016

FG to borrow $30billion for infrastructural projects

President Muhammadu Buhari administration plans to borrow a total of $29.960 billion foreign loans designed to address infrastructure deficit in the country.
The amount is part of the external borrowing plan of the federal government covering a three year period for proposed projects for 2016 to [...]

Fri, 28 October 2016

Recession not caused by monetary issues - CBN

The Central Bank of Nigeria has said the current economic recession being experienced in the country was not caused by monetary issues, insisting the apex bank had employed every necessary means to save the country from the challenge.

Governor of the bank, Mr. Godwin Emefiele, said the CBN had [...]

Fri, 28 October 2016


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