budget

Senate rejects ₦15bn budget of Trade & Investment Ministry

April 1, 2019 8:49 pm

The Senate Committee on Trade and Investment has rejected the ministry’s 2019 Budget of N15.63 billion.

The rejection followed alleged discovery of an illegal Special Economic Zone Company, listed for appropriation when the Minister of Trade and Investment Dr Okechukwu Enelamah appeared for budget defence on Monday.

The Chairman of the committee, Sen. Sabo Mohammed while referring to item two on page seven of the budget booklet presented by the ministry, said the company was not known to be one of the 17 agencies under the ministry.

The ministry had in the course of the defence, presented the booklet containing …

Minister allays fears over 2019 budget oil price benchmark

March 27, 2019 5:51 pm

The Minister of Budget and National Planning, Sen. Udoma Udo Udoma, on Wednesday in Abuja allayed fears over the oil price benchmark for the 2019 budget.

There have been concerns by stakeholders that the 60-dollars-per-barrel projection was too ambitious considering the volatility of the international crude market.

But Udoma told a National Assembly joint committee hearing on the 2019 Appropriation Bill that there was no cause of alarm.

“I know that when the budget was submitted, and we had an assumption of oil price of 60 dollars, there were concerns raised as to whether that projection was not too ambitious.…

2019 Budget Defence: FAAN proposes ₦101.6bn

March 27, 2019 5:27 pm

Federal Airport Authority of Nigeria, (FAAN) has proposed a total budget of N101.6 billion for 2019.

The Managing Director, Mr Saleh Dunoma, made the disclosure while defending the 2019 budget proposals of the Authority before the House of Representatives Committee on Aviation on Wednesday in Abuja.

According to him, the Authority is proposing for 2019 a Budget of N101.67 billion as against N88,805,462,776 for 2018 which gives a 14.5 per cent increase.

“This is in anticipation of increase in passenger traffic as well as boost in the non-aeronautical revenue base of the Authority as already highlighted in the 2018 budget …