FG’s Deficit Spending Increase by 11% to N7.88trn   The Federal Government recorded an 11 per cent, year-on-year, YoY increase in deficit spending to N7.88 trillion in seven months, from January to July, from N7.13 trillion in the corresponding period of 2022. The rise in deficit spending...

CBN Says FG’s Three-month Expenditure Exceeds Revenue by N1.43trn   The Federal Government’s expenditure exceeded revenue by N1.43tn in the first three months of 2023, according to figures obtained from the Central Bank of Nigeria (CBN). The CBN revealed in its economic report for the third quarter...

FG Expends N742.56bn Sukuk Funds on Roads, Releases N1.88trn for 2022 Expenditure The federal government has raised N742.56 billion sovereign sukuk bond from 2017 to 2022 for the execution of road projects across the country. Director General Debt Management Office, DMO, Ms. Patience Oniha, confirmed the...

'Why Fed Govt Expenditure Fell To N781bn In August'     The Federal Government’s expenditure fell by 18.76 per cent to N781.61bn in August as a result of compression in capital spending relative to their budget. A member of the Monetary Policy Committee, Prof. Adeola Adenikinju, disclosed this...

Water Ministry Can’t Account For N344m Expenditure, Report Says   Eight payment vouchers raised by the Ministry of Water Resources during the 2017 financial year totalling N343.95m were not presented for audit. The revelation is contained in the audit report of the ministry which was prepared by...

2020 Budget Contains N150bn Wasteful Expenditure - Report   The Centre for Social Justice on Wednesday faulted the 2020 budget presented by President Muhammadu Buhari to the National Assembly, stating that the fiscal document contained about N150.07bn expenditures that are “frivolous, inappropriate, unclear and wasteful.” The group...