Reps Investigate Nigeria’s Daily Fuel Consumption Claims   The House of Representatives has summoned the Minister of Finance, Budget and National Planning, Zainab Ahmed, the Governor, Central Bank of Nigeria (CBN), Godwin Emefiele, the Minister of State, Petroleum Resources, Timipre Sylva and others over their nonappearance...

Why Reps Probe 5-Year Fuel Subsidy, Allege N2.9tr Diversion The House of Representatives has set up an ad hoc committee to investigate the petroleum products subsidy regime from 2017 to 2021. The committee is also to query an alleged $7 billion (about N2.905 trillion) oil...

FG To Finance 2022 Budget Deficit With New Borrowing  President Muhammadu Buhari has written to the House of Representatives seeking an increase in the 2022 budget deficit to be financed through borrowing from the domestic market. According to our correspondent, Buhari said this in a letter...

Reps Probe 77 Oil Firms Over Unremitted N2.6trn Revenue   The House of Representatives, on Tuesday, commenced investigative hearing on the N2.6tn owed the Federal Government by 77 oil companies operating in Nigeria. The House is acting on the 2019 report of the Nigeria Extractive Industry Transparency...

Buhari Seeks Amendment To The 2022 Appropriations Act   President Muhammadu Buhari has written to the National Assembly for an amendment to the 2022 Appropriations Act, passed and assented to last December. The request was contained in separate letters addressed to Senate President Ahmad Lawan and the...

Reps Pass Finance Bill For Second Reading   The House of Representatives has passed the Finance Bill 2021 for second hearing. In what looked like a U-turn, the House considered the bill after its Committee on Finance had earlier on Monday held a public hearing on it. As...