Governor Babajide Olusola Sanwo-Olu is set to present the Y2025 Appropriation Bill to the Lagos State House of Assembly on Thursday, November 21, 2024, at noon. This highly anticipated event will unveil the “Budget of Sustainability,” a comprehensive plan to foster continuity, resilience, and prosperity for Lagosians. The Y2025 budget, dubbed the “Budget of Sustainability,” Read More…
The Nigerian government has unveiled its Medium Term Expenditure Framework (MTEF) for 2025-2027, proposing a total expenditure of ₦47.9 trillion for the 2025 fiscal year. This ambitious plan aims to drive economic growth and development across various sectors. The MTEF includes several critical assumptions and projections: The MTEF is a crucial document that outlines the government’s fiscal Read More…
In a significant move, the Senate has approved the N28.7 trillion 2024 Appropriation Bill, marking an increase from the initially proposed N27.5 trillion by President Bola Tinubu, with an additional N1.2 trillion allocated. The approval followed the endorsement of the Senate Committee on Appropriation’s report during Saturday’s plenary session in Abuja. According to Sen. Solomon Read More…
The House of Representatives has greenlit the medium-term expenditure framework for 2024-2026, a critical set of assumptions shaping the country’s upcoming budgets. The outlined projections, ratified by President Bola Tinubu’s cabinet before reaching the National Assembly, anticipate the naira to hover around 700 Naira per dollar in 2024, gradually strengthening in the subsequent years. The Read More…
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, emphasised on Thursday that Nigeria shouldn’t solely depend on borrowing to finance the 2024 budget. Edun shared this stance during his appearance before the joint Senate Committee on the 2024–2026 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) in Abuja. Highlighting Read More…
In a significant development, Nigerian lawmakers have given their approval for President Bola Tinubu’s $2.8 billion supplementary budget, despite the inclusion of provisions that have sparked outrage among the country’s citizens. This supplementary budget includes allocations for new bulletproof vehicles for the president and his wife, a presidential yacht, official vehicles for the first lady’s Read More…
President Bola Tinubu has made two significant moves in the realm of fiscal policy, as he presented the 2023 Supplementary Budget and sought Senate approval for the 2024-2026 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP). In a letter addressed to Senate President Ahmed Lawan, President Tinubu expressed his gratitude to the Senate Read More…
The Federal Government of Nigeria has put forth a proposed budget of N26.01 trillion for the year 2024. This budget is predicated on an oil price benchmark of $73.96 and an interest rate of 21 per cent. At the conclusion of the Federal Executive Council (FEC) meeting on Monday in Abuja, Minister of Budget and Read More…
Following concerns from some legislators, the Nigerian Senate on Wednesday increased the country’s 2023 budget by 6.4% to ₦21.83 trillion ($49 billion) and postponed a decision on the president’s request to convert central bank overdrafts to long-term bonds. President Muhammadu Buhari had previously requested permission from the legislature in a letter dated December 20 to Read More…
Mr. Wasiu Adesina, the chairman of the Ikorodu Local Government, has reassured the locals of his administration’s commitment to bringing them more development projects and democratic dividends. At the stakeholders meeting for the local government’s 2023 budget held on Friday in Lagos at the council secretariat in Ikorodu, Lagos State, Adesina made the guarantee. In Read More…
