N3.92trn Fuel Subsidy Higher Than Health, Education, Defence Budgets   The N3.92tn spent as subsidy on Premium Motor Spirit, popularly called petrol, from January 2020 to June 2022 is higher than the cumulative individual federal budgets for health, education and defence during the 30-month period. Findings show...

NPA Remits N490bn To FG In 11 Years   The Nigerian Ports Authority (NPA) said it remitted N490.229bn into the Consolidated Revenue Fund of the Federal Government between 2011 and 2022. The Managing Director of NPA, Mohammed Bello-Koko, while addressing journalists at the agency’s head office in...

FG Borrowed N1trn To Fund Fuel Subsidy - DMO   The Federal Government has borrowed N1 trillion to subsidise petrol this year, the Debt Management Office (DMO) said yesterday. Its Director-General, Ms. Patience Oniha, spoke during the presentation at the Executive Course on Budgeting and Fiscal Transparency...

World Bank To Raise $127bn For Mini-grid Power Funding   The World Bank Group will be raising $127 billion for mini-grip power funding by 2030. The bank said it will be leveraging development partner funding and government investment to “crowd in” private-sector finance for the project. It explained...

FG To Deploy PPP To Boost Excise, Tax Revenue   The Federal Government is deploying an Integrated Secure Track and Trace Solution to boost revenue through excise and tax collection. The Public-Private Partnership (PPP) solution, which will adopt the Build, Operate and Transfer option, will allow the...

House Moves Against Non-payment Of Salaries, Pensions   The House of Representatives, on Tuesday, passed for second reading, a bill seeking to prohibit late and non-payment of workers and pensioners by employers. When it becomes law, employees will be entitled to interests on unpaid wages. Underpayment of...