Declining Revenue Raises FG’s Deficit To N1.3trn In Q3, 2020           The Federal Government (FG) recorded a 42 percent shortfall in revenue collected in the third quarter 2020 (Q3’20) which resulted in deficit spending of N1.29 trillion during the quarter. The deficit spending recorded in the period...

Senate Passes 2021-2023 MTEF/FSP, Pegs Oil Benchmark At $40           The Senate on Thursday passed the 2021-2023 Medium Term Expenditure Framework and Fiscal Strategy Paper. It pegged oil benchmark at $40 and exchange rate at N379 per dollar. The MTEF/FSP is the fiscal document upon which the 2021...

BrentexCPP, AKK Contractor Assures to Deliver Project on Time and Cost     Brentex Petroleum Services Ltd/ China Petroleum Pipeline Engineering Co Ltd (CPP), one of the consortia executing Federal Government’s Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project has pledged to deliver the project on schedule and within cost. The...

Fed Govt Licenses 203 Agents To Boost NIN Enrolment       The Minister of Communications and Digital Economy, Dr. Isa Ali Ibrahim (Pantami), has approved the licensing of 173 private sector Agents and 30 State Governments/Public Sector Institutions to conduct enrolment of Nigerians and legal residents into...

Fed Govt, Seven Firms Sign MoU To Power Rural Communities         The Federal Government on Wednesday signed an Output Based Fund grant Memorandum of Understanding with seven private companies for the deployment of solar home systems to power rural communities. It was learnt that parties in the...

FAAC Shares N601.110bn Nov 2020 Revenue to FG, States and LGs The Federation Accounts Allocation Committee (FAAC) has shared a total of N601.110 billion November 2020 federation account revenue to the Federal, States and Local Government Councils and agencies. This was announced after the Federation Account Allocation Committee...