Budget Padding: President Muhammadu Buhari’s avowed determination to punish culprits who smuggled foreign items into the 2016 budget and who caused both national and international embarrassment are back to work, Economic Confidential can report. Investigation by the Economic Intelligence Magazine indicates that the officials who...

President Muhammadu Buhari will resubmit the request for his administration to borrow $29.96bn from external sources to the Senate despite the setback the borrowing plan suffered at the upper legislative chamber on Tuesday. The Minister of Information and Culture, Alhaji Lai Mohammed, disclosed this to...

The ministries of Finance and Budget and National Planning as well as the Debt Management Office have begun working on the details of President Muhammadu Buhari’s $29.96bn external borrowing plan following its rejection by the Senate. The request for legislative approval for the borrowing plan...

The Nigeria’s oil production has improved to 2.1 million barrel of crude oilafter peace initiatives between the Federal Government and Niger Delta leaders. This new development was disclosed by Minister of State for Petroleum, Emmanuel Kachikwu after a two-hour meeting of Niger Delta stakeholders with...

The Senate has rejected President Muhammadu Buhari’s external borrowing plan of $30bn for the execution of projects from 2016 to 2018. The nays had it when the borrowing plan was put to a vote on the floor of the chamber during the plenary on Tuesday. The...

President Muhammadu Buhari last week wrote the National Assembly seeking approval to borrow $29.96 billion under the External Borrowing (Rolling) Plan to address the infrastructure deficit in the health, education, water resources and other sectors. The president’s letter, which was read at plenary by the...