FEC Okays N3.11bn For Communication, Education Projects           The Federal Executive Council on Wednesday approved N3.11bn for contracts in the Ministries of Education and Communication and Digital Economy. The Minister of Information and Culture, Lai Mohammed, disclosed this while briefing State House correspondents at the end of...

Report Says, Only Lagos, Rivers, Anambra Can Survive On IGR, VAT           Only three states in Nigeria can survive without support from the Federal Government. This was disclosed in BudgIT’s report ‘State of States, 2021 edition: Fiscal Options for Building Back Better’ released on Tuesday. According to BudgIT,...

Fed Govt Releases Fresh Debtors’ List Nov, 77 Oil Firms Owe N2.66trn           The indebtedness of 77 oil and gas companies to the Federal Government is now N2.66tn, the Nigeria Extractive Industries Transparency Initiative said on Tuesday. NEITI’s Executive Secretary, Orji Ogbonnaya-Orji, who said this in Abuja...

DMO Raises N1.9trn From Bonds In Eight Months         As the debate over borrowings and Nigeria’s debt stock continues, analysts at FBNQuest Research, an arm of the First Bank Group, are presenting a line of argument indicating that the debt stock is still manageable at the...

House Passes 2022-2024 MTEF, Approves N4.89trn New Borrowings         Like the Senate, the House of Representatives has passed the 2022–2024 Medium Term Expenditure Framework and Fiscal Strategy Paper as presented by President Muhammadu Buhari. The passage followed consideration and adoption of the report by the House Committee...

Northern Governors Reject VAT Laws Enacted By Lagos, Rivers States       Northern Governors Forum on Monday kicked against the Value Added Tax laws enacted by the governors of Rivers and Lagos State governors which got the support of other Southern state governors. The Forum in an emergency...