FG, States, LGCs Share N1.411trn October 2024 Revenue
Post AMUGE
November 20, 2024
Business a.m. A total sum of N1.411 trillion, being October 2024 Federation Accounts Revenue, has been shared to the Federal Government, States and the Local Government Councils. The revenue was shared at the November 2024 meeting of the Federation Accounts Allocation Committee (FAAC) held in Bauchi State and chaired by the Accountant General of the […]
Inflation storm rages on in Nigeria as October rate hits 33.88%
Post AMUGENovember 18, 2024
Manufacturing sector suffers as inflation mows down profits Nigerian households lament Onome Amuge The Nigerian economy has been in a perpetual state of turbulence, with new economic troubles surfacing every week. One such persistent problem is inflation, which continues to rise and constrict the financial breathing room of every Nigerian citizen. Nigeria’s economy staggered under […]
FG approves N47.9tn budget for 2025 fiscal year
Post AMUGENovember 14, 2024
Onome Amuge The federal government has approved the 2025-2027 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP). The approved MTEF entails a proposed budget size of N47.9 trillion, with new borrowings of N9.22 trillion included in the total. Abubakar Bagudu, Nigeria’s minister of budget and economic planning, shared the details of the approved […]
Delta Assembly passes electricity power sector bill 2024 into law
Post AMUGENovember 14, 2024
Delta State House of Assembly has passed the Electricity Power Sector Bill, 2024. The executive bill which was given an accelerated hearing was passed into law on Wednesday after its third reading at the plenary presided over by Speaker Dennis Guwor. Emeka Nwaobi ,the House Majority Leader, had earlier moved a motion for the suspension […]
Makinde prioritises infrastructure, education in N678bn budget estimate for 2025
Post AMUGENovember 13, 2024
Onome Amuge Oyo State Governor Seyi Makinde has unveiled a budget estimate of N678,086,767,332.18 billion before the State Assembly on Wednesday, with infrastructure and education taking the lion’s share of the allocation for the 2025 fiscal year. Termed, ‘the Budget of Stabilization,’ Governor Makinde emphasised that it aims to boost the economic recovery efforts of […]
Customs revenue collection hits N5.7trn, exceeds annual target
Post AMUGENovember 13, 2024
The Nigeria Customs Service (NCS)has announced that it collected N5.7 trillion in revenue as of Tuesday, November 12, 2024. The Comptroller-General of Customs, Adewale Adeniyi, disclosed this on Wednesday at the ongoing 2024 Comptroller-General of Customs Conference in Abuja. The conference is themed “Nigeria Customs Service: Engaging Traditional and New Partners with Purpose.” Adeniyi expressed […]
Constitutional reform is not a partisan affair –Kila
Post AMUGENovember 12, 2024
Patriots names zonal exco The national chairman of Patriots’ Strategy and Advocacy Committee on Constitutional Reform of Nigeria, Anthony Kila, has urged members of his committee and other Nigerians not to view constitutional reforms as a partisan affair but a nation and institution-building task. The renowned political economist and celebrated public affairs analyst made this […]
Nigerian sub-nationals battle for survival as debt portfolio rises
Post AMUGENovember 11, 2024
Lagos, Rivers only viable states in 2023 Bamidele Famoofo There is a huge gap in financing infrastructure in Africa’s fourth-largest economy as sub-nationals (state governments) remain incapable of generating enough revenue to finance projects that will trigger growth and development. Only a few states in the federation according to a report released by BudgIT, a […]
Nigerian subnationals, FCT, raise IGR to N2.43trn in 2023, up 26%- NBS
Post AMUGEOctober 29, 2024
Bamidele Famoofo The 36 states of the federation, including the Federal Capital Territory recorded ₦2.43trn in internally generated revenue in 2023. The latest report released by the National Bureau of Statistics on Monday, said the IGR recorded in 2023, is higher by 26.5 per cent to the ₦1.92trn IGR recorded in 2022. IGR is from […]
FG approves development fund to boost creative economy
Post AMUGEOctober 24, 2024
Business a.m. The Federal Executive Council (FEC) has given approval for the creation of the Creative Economy Development Fund to enhance Nigeria’s creative industry. The approval was granted at the FEC meeting recently led by President Bola Ahmed Tinubu. According to a statement released on Thursday by Dr. Nneka Anibeze, Special Assistant on Media and […]