Economy

Former Governor of Ogun State, Olusegun Osoba, has disclosed that President Bola Tinubu’s administration inherited an empty treasury when it assumed office, leading to a necessity for borrowing to meet financial obligations. Osoba made this revelation during an interview on Arise Television, where he highlighted the challenges faced by Tinubu’s government upon assuming leadership. He…

Sadiya Umar-Farouk, the former minister of Humanitarian Affairs, Disaster Management, and Social Development, is set to be questioned by the Economic and Financial Crimes Commission (EFCC) on allegations of involvement in a 37.1 billion naira fraud. This development follows the arrest of Halima Shehu, the National Social Investment Programme Agency’s former head, who is also…

Senator Orji Uzor Kalu of Abia State has called on Nigerians to be patient with President Bola Tinubu’s administration as it works to revive the country’s economy. Speaking during a visit to the chairperson of the All Progressives Congress (APC) in Ebonyi State, Kalu acknowledged the economic challenges facing Nigerians and urged them to give…

President Bola Tinubu’s administration has issued a directive requiring all federal government-funded ministries, departments, and agencies (MDAs) to remit 100% of their revenues into a Sub-Recurrent Account, a part of the Consolidated Revenue Fund (CRF). This move, revealed in a circular by the Finance Ministry on December 28 and made public on Tuesday, marks a…

Enugu State Governor, Peter Mbah, has announced that 82% of the funds for the state’s 2024 budget, amounting to ₦521.6 billion, will be sourced from internally generated revenue (IGR). Speaking at a Mass held at the Government House Chapel in Enugu, Mbah revealed that only about 12% of the budget would be funded through borrowing….

In a special New Year message issued by the Labour Party and signed by its National Publicity Secretary, Obiora Ifoh, the party has urged the Federal Government to reconsider the allocation of funds in the 2024 budget. According to the party, there is a need to redirect resources towards the welfare and security of Nigerians,…

President Bola Tinubu has officially signed the N28.78 trillion 2024 appropriation bill into law at the State House in Abuja on Monday. The signing ceremony was attended by several key figures, including Senate President Goodswill Akpabio, Speaker of the House Representatives Abbas Tajudden, Minister of Finance and Coordinating Minister of the Economy Wale Edun, and…