budget

EU Budget Rules Need Rethink, Says New Commissioner

December 9, 2019 2:49 pm

The EU’s new economy commissioner Paolo Gentiloni said the bloc should consider loosening its strict budget deficit rules to respond to climate risks and weak growth, echoing a similar call by French President Emmanuel Macron.

The rules, which aim to enforce budgetary discipline among European Union members, were born out of the financial crisis and needed to be updated, Gentiloni told the Monday edition of the daily Sueddeutsche Zeitung.

“We have different challenges now: the fight against climate change and the danger of having low growth and low inflation for an extended period,” he said in comments translated into German.…

Iran Unveils Budget Of ‘Resistance’ Against US Sanctions

December 9, 2019 2:42 pm

Iran’s President Hassan Rouhani on Sunday presented to parliament what he called a “budget of resistance” against crippling sanctions imposed by arch-enemy the United States.

“Next year, similar to the current year, our budget is a budget of resistance and perseverance against sanctions,” Rouhani told parliament in remarks broadcast on state radio.

“This budget announces to the world that despite sanctions we will manage the country, especially in terms of oil,” he added.

Read Also: PG&E Agrees To $13.5 Billion Payout For California Fires

The budget for the financial year starting late March 2020 comes after fuel price hikes that …

Reps Raise 2020 Budget To ₦10.6trn From ₦10.33trn

December 5, 2019 7:13 am

According to NAN the House of Representatives has raised the 2020 Appropriation Bill from ₦10.33 trillion to about ₦10.6 trillion.

The new figure has been proposed by the House Committee on Finance, which is scheduled to lay its report on the national budget at the plenary today (Wednesday).

The committee has recommended a total budget sum of N10,594,362,364,830.

Read Also: Just In: Orji Kalu Jailed 12 Years For Fraud

President Muhammadu Buhari had on October 8, 2019, presented the appropriation bill to a joint session of the National Assembly.

Both the executive and the legislature plan to pass the bill …

Tambuwal

Tambuwal Proposes ₦202.4bn Budget For 2020

December 4, 2019 11:40 am

Governor Aminu Tambuwal of Sokoto, yesterday, presented ₦202.4 billion as proposed appropriation for 2020 fiscal year to the state House of Assembly for approval.

Tambuwal, while presenting the bill for 2020 proposed expenditure said the amount included a capital expenditure of N122.8 billion, personnel cost of N32.7 billion and overhead cost of ₦46.8 billion.

The governor said the budget, tagged: “Budget of Sustained Socio-economic Development and Inclusiveness,” would focus on completion of projects started in 2019 and execution of new ones.

He said the budget was carefully formulated in tandem with the State Government strong desire and commitment to …

Budget

Makinde Proposes ₦208.8bn Budget

November 28, 2019 3:54 am

Governor Seyi Makinde of Oyo State on Wednesday presented an appropriation bill of ₦208, 802,972,878 to the state House of Assembly for the 2020 fiscal year.

Capital expenditure made up 47.9 per cent of the total budget estimate, while the total recurrent expenditure for the 2020 financial year stood at N108, 660, 282,832, representing 52.1 per cent of the budget proposal.

Makinde said the importance of the 20 per cent “increase on the 2019 budget should not be lost on us.”

Read Also: German Museum Confirms 49-Carat Diamond Among Heist Haul

 

The governor added, “Increased allocation to capital projects

…

2020 Budget Will Be About People, Says Abiodun

November 26, 2019 6:26 am

The Ogun State government has said that no vanity project will feature in the state’s 2020 budget being compiled for presentation to the state House of Assembly.

Governor Dapo Abiodun gave this assurance yesterday when he declared open the 2020 treasury board meeting at Oke-Mosan, Abeokuta, the state capital. He said: “Cognisance has been taken to eliminate white elephant projects or any such project that would boost the public perception of any political actor in the state.

“We must realise that our responsibilities to the people or our state go beyond channelling efforts towards the routine patterns for the use …

2019 Budget: House Directs NDDC to Suspend All Payments

November 20, 2019 3:30 am

The House of Representatives has directed the Niger Delta Development Commission (NDDC) to suspend all payments with immediate effect, except for personnel cost for allegedly operating the 2019 fiscal year without a budget approved by the National Assembly.

The directive followed the adoption of a motion on the urgent need to investigate the failure and refusal of NDDC to submit its budget estimates for 2019 to the National Assembly for approval brought by Hon. Benjamin Kalu.

The House also summoned the Minister of Niger Delta Affairs, Senator Godswill Akpabio to explain to the House why the commission has been spending …

Senate, Reps Face Off Threatens 2020 Budget

November 20, 2019 3:29 am

President Muhammadu Buhari’s Finance Bills, yesterday, suffered a major setback following a face off between the Senate and House of Representatives committees on finance.

Committee members from the House of Representatives boycotted the public hearing held by the Senate Committee on Finance.

Daily Sun learnt that the aggrieved lawmakers were alleging that they were sidelined by the Senate Committee on Finance in the run up to the hearing.

They also claimed that funding of the hearing was shrouded in secrecy.

The aggrieved lawmakers said they were not briefed on how much was approved for the exercise.

It was gathered …

NDDC

Reps To Stop Akpabio’s 2020 Budget Over NDDC Interference

November 14, 2019 1:06 pm
• Order suspension of NIN by JAMB
• Urge review of fuel ban on border towns

The House of Representatives yesterday resolved to halt further consideration of the 2020 budget of Ministry of Niger Delta Affairs over the appointment of an interim committee to manage the affairs of the Niger Delta Development Commission (NDDC).

The lower legislative chamber also urged the Senate to stop further action on the ministry’s budget over the “illegal appointment.”

The resolution followed a matter of public urgent importance on the urgent need to stop the “illegality in the Niger Delta Development Commission (NDDC)” moved by

…

Gov. Obaseki Presents ₦177bn Budget For 2020

November 13, 2019 3:52 pm
Gov. Godwin Obaseki of Edo on Wednesday presented a budget of ₦177 billion for 2020 to the state House of Assembly for approval.

The News Agency of Nigeria (NAN), reports that the budget is 3.34 per cent higher than the 2019 figure of N175 billion.
The budget has N85 billion recurrent expenditure and ₦92 billion capital expenditure.
Obaseki said the budget was to consolidate and complete all ongoing projects in the state.
“The projected revenue for 2020 is estimated at ₦145 billion consisting of N68 billion statutory allocation, N14.5billion VAT, N40.3 billion Internally Generated Revenue (IGR), 15.3billion grants.

Read Also:

…
Budget

2020 Budget Report To Be Ready Nov. 26, Says Lawan

November 12, 2019 7:53 am
The report of the 2020 budget proposal presented to the National Assembly by President Muhammadu Buhari on October 8 will be ready by November 26, the Senate President, Dr Ahmad Lawan, has said.
Lawan, who spoke at plenary on Tuesday, expressed hope that the Appropriation Committees of the two chambers would be ready with the budget report on the specified date.
He directed the Senate committee on Appropriation headed by Senator Barau Jibrin, to galvanise action towards laying the budget report before the Senate at plenary on November 26.
…

2020 Budget: Showdown Looms In House Of Reps

November 11, 2019 6:21 am

A showdown is dangling over the House of Representatives following alleged allotment of constituency projects to principal officers  in the 2020 budget besides their share of votes allocated for projects in the Zonal Intervention Projects (ZIP).  

A member of the House, who declined to be named told Daily Sun that aside projects due to principal officers from ZIP, “they already have a number of projects included for them in the budget” before President Muhammadu Buhari presented estimates to a joint session of the National Assembly on October 8.

The development has not gone down well with members,  especially ranking lawmakers, …

TRENDING

Breaking

𝐀𝐟𝐫𝐢𝐜𝐚 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐍𝐞𝐰𝐬, 𝐍𝐞𝐰 𝐘𝐨𝐫𝐤, is a nonpartisan online news portal founded on the truth to provide you with weekly, insightful articles written with precision and current updates on current events from Africa in particular and the rest of the world in general. All of our reports undergo extensive fact-checking to ensure their veracity, and we adhere strictly to the facts, no matter whose ox is gored.

follow on social media

Facebook Twitter Youtube Telegram Linkedin

subscribe to newsletter

© 2018 - 2020 Africa digital news, New York
Powered by

People and Polity