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...

  The Ministry of Power got the highest amount of N209.24bn out of the total N753.6bn capital votes so far released by the Ministry of Finance to Federal Government’s Ministries, Departments and Agencies for the implementation of the 2016 budget. The details were made available in...

Out of the N6.06tn approved for the 2016 budget, about N2.95tn has so far been released by the Federal Government for capital and recurrent expenditures, figures from the Central Bank of Nigeria have indicated. The apex bank stated that the N2.95tn spent in the first...

The Federal Government says it has been saving a total of $4m (N1.22bn) daily in fuel import bill since May 12, this year when it stopped paying subsidy claims to importers. The Minister of Budget and National Planning, Senator Udo Udoma, who confirmed the figure,...

In it quest to improve electricity supply across the country especially in the Federal Capital Territory, the Federal Government has signed Memorandum of Understanding (MoU) of $11m (N2.17bn) with the Japanese Government for an emergency improvement of electricity supply facilities in Abuja. This developmental project...