Budget 2022: Lawan decries high level of deficit
Senate President Ahmad Lawan has decried the level of deficit of the 2022 Budget. He made this known at the presentation of the 2022 Budget estimates by President Muhammadu Buhari to a joint session of the National Assembly in Abuja on Thursday. The deficit in the 2022 Budget stands at N 6.26 trillion. Lawan, who noted that the level of budget deficit is...
2022 budget: Gbajabiamila tasks MDAs on accountability, timeliness
The Speaker of the House of Representatives, Rt. Hon. Femi Gbajabiamila, has said that the National Assembly would "ensure exhaustive consideration" of the 2022 budget that President Muhammadu Buhari presented to the federal legislature on Thursday. The Speaker, who said the National Assembly was committed to the timely passage of the Appropriation Bill as it did in the last two...
NGX Group to list 1.96bn shares on main board
The Nigerian Exchange Group Plc. (NGX Group) on Thursday confirmed its intention to list on the main board of the Nigerian Exchange Ltd. (NGX). The planned listing follows successful completion of the demutualisation and restructuring of the Nigerian Stock Exchange and related operations within NGX Group. The Group Managing Director/Chief Executive Officer of NGX Group, Mr Oscar Onyema, confirmed the listing...
Soldiers manhandle, arrest actor Chinwetalu Agu over Biafra outfit
Popular Nollywood Actor, Chinwetalu Agu, has reportedly been arrested by Nigerian soldiers in Upper Iweka area of Onitsha, Anambra State for allegedly putting on an outfit with colours of the Biafran Flag. It was gathered that, on Thursday afternoon, Agu’s vehicle was stopped by soldiers who wasted no time to bring him out of his bus. In a footage seen The...
2022 Budget: FG targets N3.16trn revenue from oil
The Federal Government has set a target of N3.16 trillion revenue from oil in 2022. It also projected N2.13 trillion as non-oil taxes while FGN Independent revenues are projected to be N1.82 trillion. In the budget, oil price benchmark of $57 per barrel and daily oil production estimate of 1.88 million barrels (inclusive of Condensates of 300,000 to 400,000 barrels per...
How Nigeria’ll fund N6.26trn 2022 Budget deficit, by Buhari
President Muhammadu Buhari on Thursday explained how his government would finance the N6.26 trillion deficit in the 2022 Budget. Buhari while presenting the document titled “Budget of Economic Growth and Sustainability” to the Joint Session of the National Assembly today in Abuja, also justified why his government has resorted to borrowing in financing critical infrastructure development. “We plan to finance the...
President Buhari’s budget speech on Economic Growth and Sustainability
PROTOCOLS It is my great pleasure to be here once again to present the 2022 Federal Budget Proposals to this distinguished Joint Session of the National Assembly. Distinguished and Honourable leaders, and members of the National Assembly, let me start by commending you for the expeditious consideration and passage of the Supplementary Appropriation Bill 2021. This further underscores your...
Osinbajo in London for Energy Transition in Africa
Vice-President Yemi Osinbajo today departed Abuja for London, the United Kingdom where he is billed to represent President Muhammadu Buhari at a United Nations High-Level event on the Energy Transition in Africa agenda with a special focus on Nigeria. The event holding tomorrow at the Imperial College will feature meetings organized by UN Energy ahead of the UN Climate Conference...
SERG to FG, Govs: Don’t complicate security situation in South-East
The pan-Igbo socio-political pressure organisation, the South East Revival Group (SERG), has warned the Federal Government and the five governors in the eastern states not to take steps that could worsen the security situation in the region. The group declared that “the cost of reckless utterances and unguarded actions may consume the zone.” The Federal Government had on Wednesday threatened to...
Pension fraud: Court sentences Maina’s son to 24 years imprisonment
Faisal Maina, son of the Chairman, defunct Pension Reformed Task Team (PRTT), Abdulrasheed Maina, has been sentenced to 24 years imprisonment. Justice Okon Abang of the Federal High Court, Abuja, in his judgement, held that Faisal, who was sentenced in absentia, was guilty of all the three-count charge. Justice Okon, who handed down a five-year-jail term for count one bordering on...
