Tag: 2017 Budget
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Nigeria borrowed over N2tn local, foreign loans to fund 2017 budget – DMO
The Debt Management Office (DMO) on Monday said the Federal Government borrowed a total of N2.32tn in 2017 to fund deficit in the budget. DMO said this in its 2017 Annual Report made available to newsmen in Abuja on Monday. According to DMO, the total amount was borrowed from both the domestic and the foreign…
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FG completes 88 road projects captured in 2017 budget – FERMA
The Federal Road Maintenance Agency (FERMA) on Thursday said over 88 capital road projects captured in the 2017 budget nationwide had been completed. Maryam Sanusi, spokesperson of FERMA, made this known in an interview with the News Agency of Nigeria (NAN) in Abuja. Mrs Sanusi said another 66 road projects that were also captured in…
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2017 budget must run till May 31 – Saraki tells FG
Senate President, Bukola Saraki, has said the 2017 budget will have to run till the end of May 2018 when the 2018 budget must have been passed. His comment, which was directed at the Minister of Finance, Kemi Adeosun, followed a point of order raised by Atai Aidoko (PDP, Kogi East). Aidoko brought the attention…
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Reps to extend validity of 2017 budget to May 31
The House of Representatives is perfecting moves to extend validity and spending in the 2017 budget to May 31 passage and presidential assent of the 2018 budget. The moves were made known on Tuesday by the Chairman of the House of Representatives Committee on Appropriations, Mustapha Dawaki during a joint public hearing on the national…
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FG to release N750bn to fund capital projects in 2017 budget
The Federal Government on Monday said the sum of N750bn would be released this week to Ministries, Departments and Agencies of government for implementation of capital projects contained in the 2017 budget. The Minister of Finance, Mrs Kemi Adeosun, gave the figure while speaking during a meeting with a delegation of investors from France. She…
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AfDB cancels Nigeria’s $400m loan request to fund 2017 budget
The African Development Bank (AfDB) has called off a loan to Nigeria that would have helped fund the country’s budget. It has instead redirected the money to specific projects, a vice president at the lender said on Monday, according to Reuters. The AfDB had been in talks with Nigeria for around a year to release…
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We’ll finance 2017 budget with recovered loots – Buhari
President Muhammadu Buhari has said the Federal Government will finance the 2017 budget with parts of the recovered loots. The President said this at the 22nd Annual Conference of the Association of National Accountants of Nigeria in Abuja on Tuesday. He was represented by the Accountant General of the Federation, Alhaji Idris Ahmed. He said…
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2017 budget: FG, Senate disagree over capital vote
FG released about 15 percent of the N2.177 trillion voted for capital project Senators warn FG action could cause serious injury to the economy The Senate on yesterday disagreed with the Federal Government over plans to release an insignificant fraction of the N2.177 trillion capital vote in the 2017 budget. This followed a revelation by…
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Comments on 2017 budget: Fashola appears before Reps, denies insulting lawmakers
The Minister of Works, Power and Housing, Mr. Babatunde Raji Fashola (SAN) has appeared before members of the House of Representatives to clear the air on his alleged offensive comments on the 2017 budget. TheNewsGuru.com reports that the minister had about a month ago raised the alarm that the National Assembly ‘smuggled’ some strange items…
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Repair of Tin – Can Apapa Expressway not captured in 2017 budget – Official
The Director-in-Charge of Highway Management at the Federal Ministry of Works and Housing, Mr Chukwuwike Uzo has said that Federal Government did not capture expenses for the repair of the dilapidated Tin – Can Apapa expressway in the 2017 budget. Uzo noted that it was high time private investors join hands with the government to…