The amount spent on subsidising Premium Motor Spirit, popularly called petrol, rose to N1.16tn between January and November this year, the latest data from the Nigerian National Petroleum Company Limited show. The data also revealed that NNPC’s remittances to the Federation Accounts Allocation Committee in the 11-month period dropped by N1.78tn. In its report on […]
President of the Senate, Ahmad Lawan, has said that the National Assembly will today transmit the 2022 budget passed by both chambers to President Muhammadu Buhari for assent into law. Lawan gave the hint on Wednesday in his remarks moments before the chamber proceeded on recess. According to him, the timely assent of the 2022 […]
The Nigerian naira gained marginally against the US dollar at the parallel market to trade at N565 per dollar. This figure is N5 or 0.9 percent higher than the N570 it traded last week. Street traders across forex markets in Lagos who spoke to TheCable on Wednesday quoted the naira at N565 to a dollar. […]
The Federal Government has introduced a suite of digital Tokens to replace the aging NIN slip and polycarbonate card. The Minister of Communications and Digital Economy, Isa Pantami said this at stakeholders workshop on the National Identification Number (NIN) Tokenization Solution organised by National Identity Management Commission (NIMC) in Abuja. He said government adopted the […]
The Senate has passed a 2022 budget of N17.126 trillion against N16.391 trillion naira as presented by the president. The sum of N3.8 trillion is for debt service, N6.9 trillion recurrent non-debt expenditure while N5.4 trillion is for capital expenditure. The Senate increased the benchmark price of crude from 57 to 62 dollars per barrel, […]
The house of representatives has passed N17.126 trillion as budget for the 2022 fiscal year. The budget was increased by N735.8 billion. The appropriation bill was passed by the lower legislative chamber on Tuesday after Muktar Betara, chairman of the committee on appropriations, presented a report. While presenting his report, Betara said the oil price […]
The Nigerian National Petroleum Company Limited (NNPC) has drawn the attention of the general public to a fake competition trending online which claims to celebrate its so-called “Anniversary Event”. Garba Muhammad, Group General Manager, Group Public Affairs Division, NNPC, in a statement on Monday said the NNPC had nothing to do with the purported anniversary […]
The Minister of Transportation, Rotimi Amaechi, has said that the Abuja-Kaduna train service generates at least three hundred million naira (N300,000,000) for the country every month. Speaking as a guest on Channels Television’s Hard Copy, Amaechi said his ministry is beginning to contribute to the nation’s economic growth. “We make N300million per month from the […]
The Minister of Labour and Employment, Senator Chris Ngige, has said the federal government is yet to approve any policy on the removal of fuel subsidy. The National Executive Council (NEC) of the Nigeria Labour Congress (NLC) had resolved to hold a national protest on February 1, 2022, against the plans by the federal government […]
Gov. Hope Uzodimma of Imo on Friday proposed a budget of N381billion for 2022 to the State’s House of Assembly for consideration. Presenting the budget tagged “budget of wealth consolidation and recovery”, Uzodimma said that it was made up of N96billion recurrent expenditure, representing 23.36 per cent and N284 billion capital expenditure, representing 74.64 per […]
