Tag
2024 BUDGET
The Supreme Court, on Monday, dismissed Rivers State Governor Siminalayi Fubara’s appeal against the Federal High Court judgment that nullified the N800 billion budget passed by the Edison Ehie-led faction of the Rivers State House of Assembly and signed into law by him.
The National Assembly has approved an extension of the 2024 Budget’s lifespan to June 2025, ensuring continuity in fiscal operations and the seamless execution of key government projects.
I hear that the National Assembly has approved the external borrowing of $2.2 billion for the Tinubu administration to address the fiscal deficit in the 2024 Budget”
Nigeria has raised $2.2 billion through its latest Eurobond auction, marking a pivotal moment in the country’s ongoing efforts to address its growing fiscal deficit.
The federal government plans to tax bank 50% of profit realised from foreign exchange revaluation in 2023.
The Presidency through the State House has spent at least N16.06 billion to buy foreign currencies for international trips in the past one year under the administration of President Bola Tinubu.
BudgIT said its open-source service delivery monitoring platform, Tracka, has discovered an allocation of N732.5 billion for empowerment projects in the 2024 budget by the federal government.
The federal government’s target revenue for 2024 is projected to decline by N3.89 trillion due to crude oil production not meeting the set target in the 2024 budget.
The Director General of Debt Management Office, (DMO) Patience Oniha has stated that the federal government has raised N4.5 trillion out of the N6 trillion target in the 2024 budget.
The International Monetary Fund (IMF) has stated that Nigeria’s budget deficit would increase beyond the projected figure for 2024 due to implicit fuel and electricity subsidy payments and increased interest costs on debt.
The Federal High Court has been asked to restrain the diversion of budgetary allocation by lawmakers.
The Nigerian Electricity Regulatory Commission (NERC) has stated that the newly approved electricity tariff is anticipated to cut down the subsidy for the fiscal year 2024 by approximately N1.14 trillion.