Capital releases to Federal Ministries, Departments and Agencies (MDAs) for the 2016 budget, have reached a record N1 trillion, the highest ever budgetary releases in Nigeria’s annual funding for capital projects, Minister of Finance, Mrs. Kemi Adeosun has revealed. “So far, N1 trillion has been...

Barely one month to the implementation of the capital budget for 2016, several Ministries Departments and Agencies(MDAs) are yet to come to terms with the current economic recession by not implementing the capital budget to the letter and spirit of the 2016 Appropriation Act...

The Director General, Budget Office of the Federation, Mr. Ben Akabueze, has said that the organisation would soon introduce an ‘Organic Budget Law’ that would prescribe exact budget cycle time frame from presentation to implementation. He also said that the clause in the roll-over implementation...

Nigeria’s 2016 budget was tagged budget of economic recovery and growth strategy. It was aimed at pulling the economy out of recession and stagflation. Africa’s largest economy slipped into recession second quarter of 2016 having had two consecutive quarters of negative GDP growth rate....

  The Ministry of Power got the highest amount of N209.24bn out of the total N753.6bn capital votes so far released by the Ministry of Finance to Federal Government’s Ministries, Departments and Agencies for the implementation of the 2016 budget. The details were made available in...

Out of the N6.06tn approved for the 2016 budget, about N2.95tn has so far been released by the Federal Government for capital and recurrent expenditures, figures from the Central Bank of Nigeria have indicated. The apex bank stated that the N2.95tn spent in the first...