FG identifies competitive OPS as key to nation’s economic growth

July 4, 2019

By Tola Akinmutimi     The federal government on Wednesday said that only a competitive private sector can drive the type of economic growth Nigeria required to improve the standard of living and economic prosperity for its projected 400 million population by year 2050. Ernest Umakhihe, the permanent secretary, ministry of budget and national planning, […]

Presidential order to raise GPD, boost SMES in information technology sector

June 18, 2019

By Samson Echenim   A new policy of the federal government targeted at diversifying the economy by creating local demand for information technology and other engineering innovations will help to raise the sector’s contribution to Gross Domestic Product (GDP) and boost small and medium scale enterprises (SMEs), industry stakeholders have said. President Muhammadu Buhari, last […]

Sanwo-Olu signs N873bn 2019 budget — six days after inauguration

June 3, 2019

Babajide Sanwo-Olu has signed the 2019 budget of the state into law, six days after he was sworn in as governor of Lagos state. The N873 billion budget was signed on Monday. According to the budget breakdown, 45% (N393,841,387) of the budget will be dedicated to recurrent expenditure while 55% (N479, 691, 775) is to […]

Plateau budgets N29bn for works, education in 2019

April 11, 2019

By Hope Ikwe, in  Jos. The Plateau State government has budgeted a total of 29.1 billion for works, transport and education in the 2019 fiscal year. Sylvester Wallangko, the commissioner for the budget and economic planning, during the breakdown of the 2019 budget tagged ” Budget of Rescue and Infrastructural  Growth” said emphasis would be […]

Civic rights group BudgIT urges Saraki, Dogara to end NASS budget secrecy

Adesola AfolabiMarch 20, 2019

BudgIT, a Nigerian civic rights group has called on the leaders of the upper and lower houses of the National Assembly to end the secrecy associated with budget allocations to their arm of the government.  The group in a statement made available to business a.m Wednesday stated that, despite Nigeria’s membership in open government partnership and tons […]

India to inject $6.8bn into state lenders to boost loans

Chris IkosaFebruary 20, 2019

India will inject 482 billion rupees ($6.8 billion) into government-controlled lenders to help them meet tighter regulatory requirements and to boost credit growth. The fund infusion will ensure that capital ratios for all state-run lenders are above the regulatory requirement and will help Allahabad Bank and Corporation Bank exit a so-called Prompt Corrective Action plan, […]

Capital market expert wants Osinbajo to lead CAMMIC

Adesola AfolabiJanuary 15, 2019

Uche Uwaleke of Nasarawa State University Keffi, is advocating for the leadership of Capital Market Master Plan Implementation Council (CAMMIC) to rest on Yemi Osinbajo, the country’s vice president, and head of the country’s economic team. This advocacy, according to Uwaleke, who is also Nigeria’s first professor of capital market and the president of the […]

Underperforming revenue sources may undermine Nigeria’s budget implementation

December 20, 2018

Underwhelming and under performing revenue sources have been identified as the challenges to successfully implement the 2019 federal budget. Financial analysts said the task of raising new revenue sources may also be difficult. The proposed budget is projecting that revenue generation will hit N6.97 trillion, with earnings from the economy’s major revenue source -Oil, pegged […]

Budget minister tasks accountants on fight against corruption

Nse Anthony-UkoDecember 4, 2018

Udoma Udo Udoma, Nigeria’s minister of Budget and National Planning has called on chartered accountants to support the anti-corruption fight of the federal government by creating systems that promote transparency and make it difficult for diversion of resources. Udoma who made the call in Abuja on Tuesday when the executive of the Institute of Chartered […]