The whopping N150 billion allocated to the National Assembly in the 2015 Appropriation Act, can fund capital votes for 20 Ministries, Departments and Parastatals [MDAs], a PREMIUM TIMES analysis of the budget has shown. Read More
The Nigerian Senate on Thursday passed a bill to establish a budget and a research office for the National Assembly. Read More
The Federal Government has instituted a suit at the Supreme Court to nullify the proposed amendments to the 1999 Constitution. Read More
The Chairman, Senate Committee on Rules and Business, Ita Enang, has described President Goodluck Jonathan’s refusal to sign the 2015 round of Constitution Amendment Bill as another act of “statesmanship”. Read More
Some of the dreaded Niger Delta militants, who accepted the Federal Government’s Amnesty, have been elected into the Rivers State House of Assembly, PREMIUM TIMES can authoritatively report. Read More
A Federal High Court in Abuja has granted Media Rights Agenda (MRA) leave to apply for an order to compel the House of Representatives of the National Assembly to furnish it with transcripts of the proceedings of the House Committee on Aviation at the hearing of the Committee on the procurement of two bulletproof BMW cars by the Nigerian Civil Aviation Authority (NCAA) through Messrs Coscharis Motors Limited. Read More
A Federal High Court in Abuja has ordered the National Assembly to disclose financial details of its highly secretive constituency allowances, in a landmark judgment that may unearth the true scale of allowances earned by Nigerian lawmakers. Read More
The seventh National Assembly will most likely end its tenure in early June without resolving majority of the huge misgovernance and corruption issues that characterised the outgoing administration. Read More
The Senate on Tuesday approved $52 per barrel as oil benchmark price for the N4.3 trillion 2015 budget.
The federal government had made a final proposal of $65 per barrel of crude oil to the lawmakers after two reviews.
The Minister of Finance, Ngozi Okonjo-Iweala, had in December 2014 presented the 2015 budget to the lawmakers based on a speculated oil production figure of 2.2 million barrels per day.
At its closed door session on Tuesday, the Senate said its decision was due to the fact that the current oil price in the international market was between $60 and $62.
President Goodluck Jonathan had forwarded three different Medium Term Expenditure Framework, MTEF, and Fiscal Strategy documents to the National Assembly between September and December last year with crude benchmark proposals of $77, $73 and $65 per barrel.
Other budget proposals include projected oil production of 2.2782 million barrels per day and average exchange rate of N165 to a US dollar. The dollar currently trades at about N199 to a US dollar as the oil-dependent Nigerian economy continues to suffer from the declining global price of crude oil.
The Senate on Wednesday, slashed the allocation for petrol and kerosene subsidies presented by the Ministry of Finance in the Medium Term Expenditure Framework for 2015 – 2017. Read More