FG Says Fresh Dollar Supply will Strengthen Naira in 2024 The Budget Office of the Federation Director-General, Ben Akabueze, disclosed that an increase in dollar supply to the country in 2024 will strengthen the position of the naira. Akabueze revealed this in an interview with Channels...

Aside N41trn Public Debt, FG Owes CBN $47bn - Report   The federal government has confirmed that the Central Bank of Nigeria (CBN) is being owed N20 trillion ($47 billion), which is yet to be added to the country’s outstanding public debt, according to a report...

Rising Governance Cost, Recessions, Others Raise FG Spending By 183%   Rising governance cost, economic recessions necessitating higher government spending may have combined with other factors to raise Federal Government spending by 183 per cent in seven years. The Federal Government increased projected expenditure in its annual...

Fed Govt Agencies Fail To Remit N2.8trn Independent Revenue In Six Years   The Federal Government recorded a shortfall of N2.8tn in independent revenue from revenue generating agencies between 2015 and 2020, an analysis of data from the Budget Office has shown. According to the Fiscal Responsibility...

Senate Probes Budget Office Over N19bn Payment Without Approval   The Senate on Tuesday commenced investigation into alleged illegal payment of N19bn to four federal agencies, by the Budget Office. Officials of the Budget Office did not appear before the Senate Public Accounts Committee. SPAC, relying on the...

Budget Deficit Rises To N20.64trn Under Buhari     Budget deficit has risen to N20.64tn under president Muhammadu Buhari, according to analysed data from the budget office. The data covered periods from 2016 to 2020. According to the budget office, more than N7.97tn was borrowed from foreign and domestic...