2016 budget

Investigations by Daily Trust has revealed that nearly half of the federal and 36 state governments’ budgets of N12.2 trillion for the year will be spent on salaries and overheads. Each of the two tiers has N6.1 trillion, but N5.33 trillion of the total (43.7 percent) will be expended...

President Muhammadu Buhari has revealed why he had to delay in signing the 2016 Appropriation Bill into law. Speaking during a radio interview over the weekend in Katsina his home State, Buhari assured Nigerians that his administration will effectively utilise available resources to turn...

Yesterday, President Muhammadu Buhari signed the 2016 budget into law. Nigerians and the international communities at large also reacted to the signing of the budget... Can you spot the difference between PDP and Kowa's party reactions to the budget....

Here is how 2016 budget will be shared among various ministeries and parastatals in the country in order to boost the economy. The total budget is N6.06 trillion as approved by the 8th National Assembly... See breakdown: 2016 Budget: 11 Things You Should Know About Buhari's Budget...

Shehu Sani, a Senator representing Kaduna Central senatorial district at the upper chamber of the National Assembly has also reacted to the signing of 2016 budget by president Muhammadu Buhari. Senator Sani wrote on his Facebook this afternoon that the nation has formally began its march to the...

President Muhamamdu Buhari has signed the 2016 budget of 'change' into law. According to Channels Television, the president Buhari did it in the presence of the Vice President, Professor Yemi Osinbajo, and the chairmen of the National Assembly appropriation committees who had arrived the...

Nigeria’s external reserves diminished by a total of $753 million to close at $27.123 billion as at April 28th, compared with the $27.859 billion it was as at April 1. The current position of the reserves, which are derived mainly from the proceeds of crude oil earnings represented a decline by...

President Muhammadu Buhari was said to have picked faults in the re-worked budget and returned it to the National Assembly for further legislative work, Vanguard reports. This is the time time, the president will be rejecting the appropriate bill for flaws. Vanguard gathered that the...

Special Assistant to the President on National Assembly Matters (Senate), Senator Ita Enang, has told New Telegraph that his office had taken delivery of a preview copy of the revised 2016 Appropriation Bill. Enang could not, however, confirm when exactly the document would reach the desk of...

Senator Babajide Omoworare representing Osun East senatorial district and Chairman, Senate Committee on Rules and Business at the National Assembly has reacted to the issues surrounding the paddling of president Muhammadu Buhari 2016 budget. Omoworare on his official twitter handle said: “After...

Tension brewed up as some members of the House of Representatives are threatening a showdown if any of the changes President Muhammadu requested in the 2016 budget is left out, Daily Trust has gathered. About 100 lawmakers of the ruling All Progressives Congress (APC) met Tuesday night and took...

Crude oil prices rebounded in Asia on Tuesday, bolstered by reports that Saudi Arabia was close to completing an oilfield expansion. The US benchmark West Texas Intermediate (WTI) for delivery in June was up 10 cents, or 0.23 percent, at $42.74 and Brent crude for June rose eight cents, or 0.18...

The presidency yesterday said it was prepared to forward next year’s budget appropriation bill to the National Assembly for ratification in order to prevent a repeat of the delay in the passage. A top source in the Ministry of Budget and National Planning who pleaded anonymity confirmed to...

Crude oil prices hit a year-record high of $46 a barrel yesterday, giving Nigeria's president, Muhamamdu Buhari a buffer of $8 over its $38 a barrel 2016 budget benchmark, a feat, which it has not attained since January. Brent crude rose by 77 cents from a session low early today to hit $46 a...

The All Progressives Congress (APC) South-south zone has punched yet another hole on the bill passed recently by the National Assembly. According to ThisDay newspaper, the party accused the Senate Appropriation Committee and its counterpart in the House of Representatives of doctoring the...

The Vice President, Yemi Osinbajo and the Speaker of the House of Representative met on Friday to resolve the controversies surrounding the 2016 budget. According to PUNCH, the Presidency, in the course of the exchange of ideas, itemised the “grey areas” in the N6.06trn budget, politely...

Vice President Yemi Osinbajo is currently presiding over an emergency session of the Federal Executive Council (FEC) over the 2016 budget details, Dailytrust reports. The meeting started at exactly 11.10am when Osinbajo arrived the Council Chambers of the Aso Rock Presidential Villa. President...

The Federal Executive Council will meet in emergency today over the 2016 budget details submitted to President Muhammadu Buhari by the National Assembly yesterday, DailyTrust gathered. The Senior Special Assistant to the President on Media and Publicity, Malam Garba Shehu disclosed to source...

The Appropriation Committees of the Senate and House of Representatives have submitted the comprehensive details of the 2016 budget to the Clerk of the National Assembly for onward transmission to President Muhammadu Buhari. In a statement jointly signed by the chairmen of the Appropriation...

A detailed clean copy of the 2016 budget will be ready today for onward transmission to the President for assent. Recall that the Presidency, last week, said the passed budget would not be assented to by President Muhammadu Buhari because it did not contain the details. Confirming to Vanguard...