As Nigerians call for reduced governance costs, the 2024 personnel expenditure for Nigeria’s 36 states has reached N2.76 trillion, This represents an increase from N2.26 trillion in 2023, marking an addition of approximately N901.88 billion over two years, with N501.16…
Mr. Victor Muruako, Executive Chairman of the Fiscal Responsibility Commission (FRC), emphasized the importance of effective public procurement processes and fiscal responsibility as crucial elements for achieving sustainable economic growth. He made these remarks on Tuesday in Abuja during a…
On Tuesday, the Naira depreciated to N1,600 per dollar in the parallel market, a decline from the N1,590 per dollar observed over the weekend. In contrast, the Naira showed a positive trend in the Nigerian Autonomous Foreign Exchange Market (NAFEM),…
The National Bureau of Statistics has announced the inflation rate for July 2024, revealing a decrease in the headline rate to 33.4% from 34.19% in June 2024. For July 2024, the month-on-month inflation rate was 2.28%, a slight drop from…
The World Bank Finances has revealed that Nigeria is still repaying $10.6 billion in loans taken out during the presidencies of Obasanjo, Yar’Adua, and Jonathan. The Debt Management Office reported that as of March 31, 2024, Nigeria’s total debt was…
The Apapa Customs Command of the Nigerian Customs Service (NCS) has said it generated a total of N1.2 trillion as revenue between January and July 2024. The Customs Area Controller (CAC), Apapa Command, Comptroller Babatunde Olomu, disclosed this in a…
The Federal Capital Territory Internal Revenue Service (FCT-IRS) has reported collecting and remitting N126.54 billion between January and June 2024. Acting Executive Chairman Mr. Haruna Abdullahi announced this at a mid-year news conference in Abuja on Monday, where he was…
The Federal Government has made significant strides in its economic reforms, well on its way to achieving a step-change in revenues in line with the budget for 2024. The Minister of Finance and Coordinating Minister of Economy, Mr Wale Edun,…
The Federal Government says the proposed N6.2 trillion supplementary budgetary will be used to pay the minimum wage. Mr Atiku Bagudu, the Minister of Budget and National Planning, gave the assurance while addressing the House of Representatives’ Committee on Appropriation…
President Bola Tinubu has urged the Senate to amend the 2024 Appropriation Act and the 2023 Finance Act. Tinubu’s request is contained in a letter addressed to President of Senate, Godswill Akpabio and read at plenary on Wednesday. …
