Subsidy Payment Costs N864.07bn In Nine Months – NNPC   The Nigerian National Petroleum Corporation spent a total of N864.07bn between January and September subsidising Premium Motor Spirit, popularly known as petrol. This amount represents 31 per cent of the total revenue of N2.7tn generated by the...

Fed Govt Uncomfortable Exceeding Borrowing Limit – Ahmed   The Minister of Finance, Budget and National Planning, Zainab Ahmed, has said the Federal Government is very uncomfortable with the fact that it exceeded the borrowing threshold in the Fiscal Responsibility Act. Ahmed, who spoke at the ongoing...

Fed Govt Budgets N104bn To maintain, Purchase Generators In 2022   Ministries, Departments and Agencies of the Federal Government will in 2022 spend an estimated N104bn on purchasing generators, fuelling and servicing them. The N104bn which will be spent on generators due to the country’s unstable power...

Why Debt Service To Revenue Ratio Is High – Fed Govt   The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has blamed Nigeria’s high debt service to revenue ratio on the large expenditure base of the country. Ahmed, in an interview with Bloomberg on...

FG Raises CBN, PPPRA, Others’ 2022 Revenue Targets By N754.31bn   The Federal Government has reviewed upwards the independent revenue projection for Ministries, Departments and Agencies in the 2022 fiscal period by N754.31bn. The N754.31bn indicates an increase of 71.09 per cent from the approved N1.06tn in...

Reps Summon Ahmed, Emefiele, Others Over Stalled Customs Project   The House of Representatives has mandated its Committee on Customs and Excise; Finance; Banking and Currency to invite Governor of the Central Bank of Nigeria, Godwin Emefiele; Controller-General of the Nigeria Customs Service, Col. Hameed Ali...