Reps Summon Finance Minister Over Petrol Subsidy   The House of Representatives’ Ad Hoc Committee to Investigate the Petroleum Products Subsidy regime from 2013 to 2022 has summoned the Minister of Finance, Budget and National Planning, Zainab Ahmed, to appear before it on Tuesday next week...

N30,000 Minimum Wage: 15 States Fail To Implement Increase Three Years After Law   Three years after President Muhammadu Buhari signed the National Minimum Wage Act into law. Teachers in primary and secondary schools in 15 states are yet to enjoy the N30,000 wage increase. According to...

FIRS Demands N1trn Tax Remittance From MDAs   The Federal Inland Revenue Service (FIRS) has written ministries, departments and agencies (MDAs) to refund over N1 trillion in taxes they have failed to remit. A source at the FIRS told The Nation that MDAs are expected to collect...

FGN Bond: Tight Monetary Policy Threatens FG’s N720bn Borrowing Plan   The Federal Government’s plan to borrow about N720 billion through FGN bond auctions in the third quarter, Q3’22, has come under fresh threat following increasing investors’ appetite for higher yields triggered by the adoption of...

MDAs’ Retirees Get Paid N980bn Arrears   The Federal Government has paid a total of N980.18bn to retirees of treasury funded Ministries, Departments and Agencies (MDAs) from the inception of the Contributory Pension Scheme in 2004 to December 2021. The Director-General, National Pension Commission (PenCom) Aisha Dahir-Umar,...

FG's Debt Servicing To Hit N10.43trn   The Federal Government has projected that debt servicing will cost N10.43tn by 2025, according to the 2023-2035 Medium Term Expenditure Framework & Fiscal Strategy Paper. This is a 182.66 per cent increase from the N3.69tn budgeted for debt service in...