NNPC spends over N13bn for entertainment, N20bn for phone calls in 2 yrs

The Nigerian National Petroleum Company Ltd. (NNPCL) has revealed that it incurred N788.7bilion administrative expenses in 2021. This is an increase from N648.6 billion reported in 2020, bringing its total expenses to over N1.4 trillion in two years. NNPC stated this in its financial statement for 2021, published on its website. A breakdown of NNPC administrative expenses showed that N13.46 billion went into entertainment for its staff and over N20 billion for telephone calls and Postage within the two-year period. Entertainment expenses in 2021 gulped the sum of N11.83 billion,…

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Fuel subsidy: Buhari transmits N2.557tr supplementary budget to National Assembly

President Muhammad Buhari has written the National Assembly, seeking an amendment to the 2022 Budget to accommodate an additional N2.557 trillion to fund subsidy on petrol, as against the N443 billion already appropriated. The request was contained in a letter dated February 10, 2022, and read by the Speaker of the House of Representatives, Femi Gbajabiamila at the resumed plenary yesterday. The President is asking the NASS for approval of the supplementary budget to provide for subsidy on petroleum products from June to December 2022. Recall that President Buhari had…

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Nasarawa Assembly confirms 14 Commissioners

The Nasarawa House of Assembly has confirmed as commissioners all the 14 nominees sent to it by Governor Abdullahi Sule. House Speaker Ibrahim Balarabe-Abdullahi announced their confirmation after they were screened on Wednesday in Lafia. The speaker urged the new commissioners to live above board while discharging their duties. “Those confirmed are Hon. Yakubu Kwanta -Akwanga, Hon. Yusuf Aliyu Turaki- Awe, Hajiya Aishatu Rufai Ibrahim- Awe, Hon. Salihu Enah- Doma, Prof. Umar Mika’il Gurku- Karu, Nuhu Ibrahim Oshafu-Keana. “Idris Mohammed Idris-Keffi, Mohammed Tanimu Sarki – Lafia, Abimiku Hannatu Bala- Lafia,…

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Senate decries ‘Envelope Budgeting’, laments abandonment of Ajaokuta Steel Project

The Senate has descended heavily on the Executive Arm for forwarding to the National Assembly on yearly basis, envelope budgeting for approval. The Senate expressed this through its Committee on Solid Minerals, Mine, Steel Development and Metallurgy during the Budget defence exercise. It also frowned at the abandonment of the Ajaokuta Iron and Steel Project, through non-provision of required budgetary provisions on yearly basis. Anger of the committee members on the envelope budgeting and abandonment of the Ajaokuta Steel project was triggered by proposed N23.4billion 2022 budget estimates, enveloped for…

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NIA gets N4.87bn budget to track, intercept mobile calls, chat messages

The National Assembly has approved a N4.87bn budget for the National Intelligence Agency, (NIA), to track, intercept and monitor calls and messages on mobile devices, including Thuraya and WhatsApp. Picture caption: Amb-Ahmed-Rufai-of-NIA-and-Gen-Samul-Adebayo-of-DMI The amount is part of the N895.8bn supplementary budget submitted by President Muhammadu Buhari last month and approved by both chambers of the National Assembly last week, after increasing it by about N87bn. The Budget, according to the Chairman, Senate Committee on Appropriation, Senator Barau Jibrin, is meant to procure equipment for the military and to fight further…

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FG plans N13.98tr budget for 2022 – Finance Minister

…To spend N900bn on subsidy in 2022 The Federal Government has projected to spend N13.98 trillion in the 2022 fiscal year. The Minister of Finance Budget and National Planning, Zainab Ahmed, made this disclosure yesterday, during the presentation of the Medium Term Expenditure Framework/Fiscal Strategy Paper for 2022-2024, in Abuja. She also disclosed that the Federal Government will slash capital expenditure to N3.61 trillion in 2022, from the N4.37 trillion approved for 2021; the figure is N758 billion lower than the N4.37 trillion spent on capital expenditure this year. The…

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Senate assures farmers in northwest of increased security budget

Senate Committee on Nigerian Army, has lauded the military over its commitment in ensuring restoration of farming activities in the northwest, and pledged increased security budget to effectively tackle challenges. The Committee leader, Senator Ali Ndume, made the commendation during an oversight visit to the 8th Division of the Nigerian Army, Sokoto. Ndume described the current budgetary allocation to the Nigerian Army as grossly inadequate, considering the huge security challenges bedeviling the country. He said the military was always on the warfront executing different operations, aimed at safeguarding the country…

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