adminBREAKING: Senate raises 2024 budget by N1.2tn
The Senate has increased the 2024 budget by a total of N1.2tn, moving the budget from N27.5tn to N28.7tn. According to the report submitted by the Appropriation Committee led…
Finance ministry gets $5.6m W’Bank loan for stationery, others
The Home Finance Department of the Ministry of Finance, Budget and National Planning has received the sum of $5.6m from the World Bank to procure 21 items, which included…
2024 budget: MDAs to spend N14bn to buy computers, N28bn for software
The federal government plans to spend over N14.39 billion on purchasing computers — laptops and desktops — in over a 100 ministries, departments, and agencies (MDAs) in the 2924…
Nigeria needs new economic model | World Bank, IMF strategies not effective, says expert
Chima Amadi, a public analyst and development expert, says Nigeria’s reliance on foreign economic policies is responsible for the country’s slow development gains. Amadi who is also chairperson of…
Nigeria’s inflation returns to 2005 level, increases to 28.2%
The consumer price index (CPI), which measures the rate of change in prices of goods and services, rose to 28.2 percent in October 2023 — up from 27.33 percent…
Petrol should sell N750 per litre – World Bank
The World Bank has said the federal government may still be paying fuel subsidies considering that the country’s fuel price of N650 is currently not cost-reflective. The bank’s Lead…
Government will continue to borrow to fund annual budget – Nigeria’s debt management
The Debt Management Office (DMO) on Friday, December 8, told the House of Representatives Committee on Appropriation that unless the revenue generating agencies in the country increase revenue generation…
Naira falls to N1200/$ in parallel market, gains 11% in NAFEM
The naira depreciated yesterday to N1,1200 per dollar in the parallel market from N1,172 per dollar on Wednesday. However, the naira yesterday appreciated to N843.07 per dollar in the…
IMF Wrong On Nigeria’s Economic Projections – Budget Office
The Director-General of the Budget Office of the Federation, Ben Akabueze, says the International Monetary Fund (IMF) has been wrong in its projections of the Nigerian economy in the…
US firm Baker Hughes to invest in Nigerian refineries
The federal government says Baker Hughes, a global oilfield services company, has announced its willingness to invest in Nigerian refineries. Lorenzo Simonelli, the chairman and president of Baker Hughes,…
![[FULL TEXT] Tinubu’s 2024 Budget Speech](https://crimefacts.news/wp-content/uploads/2023/07/Tinubu-e1686822975236-567x367-1.jpeg)
[FULL TEXT] Tinubu’s 2024 Budget Speech
President Bola Tinubu, on Wednesday, presented the N27.5 trillion 2024 budget proposal to a joint session of the 10th National Assembly in Abuja — his first since assuming office…
Nigeria Can No Longer Rely On Borrowing, Finance
The Minister of Finance and Coordinating Minister for the Economy, Wale Edun, has disclosed that the country cannot rely on borrowing to fund the 2024 budget. Edun stated this…
Inflation surges to 27.33% in October
Nigeria’s inflation rate surged to 27.33 per cent in October, the National Bureau of Statistics disclosed on Wednesday. This is a 0.61 percentage point from the 26.72 per cent…
Chinese loan to Nigeria rises by $800m in one year, hits $4.73bn
Nigeria’s debt to China increased from $3.93bn as of June 30, 2022, to $4.73bn as of June 30, 2023, showing an increase of $800m in one year. It is…
FAAC shares N903.480bn to Fed, States, councils for September 2023
The Federation Account Allocation Committee (FAAC) has saved N289 billion into the non-oil account for the month of September 2023 The FAAC has been operating the account since June…
