The Internally Generated Revenue for the first quarter of Y2018 stood at N103.476billion, as against N96.7billion recorded in the previous year, thereby accounting for 81 percent of the total revenue of N141billion generated in the quarter. Commissioner for Economic Planning and Budget, Mr Segun Banjo disclosed this during the annual Ministerial Press Briefing to mark the third year in office of Governor Ambode’s administration. Giving a breakdown of the figures, the Commissioner said the budget performance for the first quarter has a pro-rata size of N261.530billion and in absolute term, it had performed N163.491bn, compared with N120.206billion reported for the same period in Y2017. Mr Banjo said that the sum of N141billion (63 percent) was generated as Total Revenue against
YESTERDAY'S HIGHLIGHTS: President Muhammadu Buhari met with the Chief Justice of Nigeria, Justice Walter Samuel Nkanu Onnoghen at the State House, Abuja. President Muhammadu Buhari received Governor Ibikunle Amosun of Ogun State at the State House, Abuja. President Muhammadu Buhari has approved the appointment, with immediate effect, of Ambassador Apollonius Demenongu Agev from Benue State (North Central) and Mr. Kio Solomon Benibo Amieyeofori from Rivers State (South-South) as Deputy Directors-General at the National Intelligence Agency. The President also met with governors of the APC at the First Ladies Chambers. Vice President Yemi Osinbajo attended the inauguration of the 30,000- seater church auditorium of the Deeper Life Bible Church in Gbagada, Lagos. INFORMATION: Chief of A...
The summit is organised by the Embassy of Nigeria in the United State and the absence of the Ministers had sparked criticism from the Emir of Kano, Muhammadu Sanusi who described the absence of government officials at the event as carefree attitude to investment opportunities. The Minister of Finance and CBN Governor, on Sunday, however said they never confirmed attendance at the summit. They said the meeting was not included in their schedule. “I attend the IMFC which is the highest decision-making body of the IMF. My primary role here as well as having the Nigerian hat on is to represent 23 African countries. So one of the things I have to do is to issue a statement on behalf of those 23 which includes most of the Anglophone countries: South Africa, Mozambique, Tanzania,” Adeos
President Muhammadu Buhari has appointed a private consultant, Victor Uwajeh, being accused of fraud, to trace and recover undeclared assets and proceeds of fraud as part of the ongoing fight against corruption in the country. The London based Nigerian private investigator is said to be facing a four-count charge the Federal Government preferred against him for attempting to obtain money through fraudulent means from Senator Andy Uba, who is representing Anambra South Senatorial District. The office of the Attorney-general of Federation (AGF) instituted the suit against Uwajeh on behalf of the government. Uwajeh was said to have been indicted by a crack team of the Nigerian Police Force which conducted investigations into a petition that was written to th...
Bola Adesola UN Secretary-General Antonio Guterres has appointed Nigeria’s Ms Bola Adesola, Chief Executive Officer and Managing Director of Standard Chartered Bank Nigeria, to serve as Vice-Chair of the Board of the UN Global Compact. Also appointed with Adesola is Mr Paul Polman of the Netherlands, Chief Executive Officer of Unilever, to also serve as Vice-Chair of the Board of the UN body, the UN announced. Global Compact is a voluntary initiative based on Chief Executive Officers commitments to implement universal sustainability principles and to take steps to support UN goals. “The Secretary-General is pleased to confirm that Bola Adesola of Nigeria, Chief Executive Officer and Managing Director of Standard Chartered Nigeria and Paul Polman of the Netherlands, Chief Executiv
THE prevailing chaos engendered by the continued invasion of the Mile Two/Berger/Tin Can axis of the Oshodi-Apapa Expressway by tankers, trailers and other articulated trucks has completely crippled traffic in the area. With the situation becoming worse by the day, questions have been raised why it persists and what the relevant authorities are doing to restore traffic sanity in the area. A failed section of the road at Berger Cement But while many have chosen to blame truck drivers for the development on account of their perchance to park indiscriminately on roads and bridges, accusing fingers have also been pointed at other sources perceived as also contributing to the problem. In the fore front of this blame game are stakeholders in the maritime industry who said both the Niger
A former Minister of Information, Prince Tony Momoh has given reasons it will be difficult for an Igbo to be president in Nigeria. Momoh, a leader of the All Progressives Congress, APC, cited disunity among Igbos and their preference for supporting the candidates with huge financial chests during election. He said this when he spoke with the Independent on why it had been difficult for the Igbos to produce a president since 1999. The former Minister pointed out that the problems facing the Igbo was their inability to be united and queue behind one single candidate. He said, “The fact is the Igbos have been in a difficult place since the civil war. They started from scratch after the civil war and they had to reestablish themselves in the Nige
The International Monetary Fund (IMF) has predicted that Nigerian economy will grow from 0.8 per cent in 2017 to 2.1 per cent by the end 2018, while warning of possible crash in crude oil prices. According to its latest World Economic Outlook (WEO) Report launched in Washington DC on Tuesday, the Fund projected that Nigeria will also grow by 1.9 per cent in 2019. The IMF, however, advised oil-dependent economies, including Nigeria, to intensify economic diversification as the global body foresees the crash of crude oil prices in the near future. “Some low-income countries like Mozambique and Nigeria have experienced financial stress or deteriorating loan quality in recent years as growth has moderated and corporate balance sheets have weakened. “Further deterioration in loan
International Air Transport Association (IATA) The International Air Transport Association (IATA) has called on aviation stakeholders to follow global standards and make greater use of operational data, to safely accommodate an additional 3.8 billion air travelers by 2036. IATA’s Director General/CEO, Dr Alexandre de Juniac made the call in a statement on Tuesday in Montreal and made available to the News Agency of Nigeria (NAN) in Abuja. De Juniac said that it was expected that there would be a near doubling of passengers over the next 20 years from the approximately four billion passengers recorded in 2017. He said that would be a massive undertaking to manage this expected growth, while making aviation even safer than it is already. De Juniac noted that 2017 was a very stro
Governor Nasir el-Rufai of Kaduna State said, yesterday, he had been told by the World Bank that no state in the country would access its loan without Kaduna State being considered by the National Assembly. It would be recalled that the Senate, penultimate week, rejected the loan facility for Kaduna State following objections from the three senators from the state on the ground that Kaduna was already too heavily indebted. Mallam Nasir El-Rufai, the Executive Governor of Kaduna State Apart from Kaduna, Abia, Ogun, and Lagos, among others, also applied for various sums from the World Bank for development purposes. Speaking at the maiden edition of Barnawa branch of Nigerian Bar Association, NBA, Law Week, yesterday, Governor El Rufai said the World Bank assured him that if Kaduna,