Politics
Just In: Reps Declare 2024 Budget Revenue Projection Inadequate, Summons FIRS, NNPCL, And Others Agencies
The House of Representatives Committee on Appropriations has expressed dissatisfaction with the estimated revenue outlined in the 2024 budget, deeming it “inadequate.” Chairman of the Committee, Abubakar Bichi, conveyed this sentiment during a budget defense session on Friday…..CONTINUE READING....KINDLY READ THE FULL STORY HERE▶

Bichi emphasized that government-owned enterprises (GEOs) have not declared sufficient revenue, and he called for these revenue-generating agencies to contribute more. President Bola Tinubu presented the 2024 budget with a total expenditure of N27.5 trillion and projected revenue of N18 trillion.
Bichi underscored the insufficiency of the declared revenue, particularly in relation to critical projects outlined in the budget. He cited an example of a N60 billion, 60 km project allocated a mere N1 billion in the budget, expressing concern that such allocations would lead to prolonged project completion times.
In addressing the revenue issue, the Minister of Budget and National Planning, Atiku Bagudu, acknowledged the inadequacy of the estimated revenue to cover the budget. He revealed that the President has directed ministers to explore alternative funding sources beyond the Appropriations Bill.
Bagudu highlighted the disparity in Nigeria’s budget compared to other populous countries, noting that of the top 10 most populous nations globally, Nigeria has the smallest budget. He cited examples such as Mexico and Brazil, which have significantly larger federal budgets despite having similar or smaller population sizes.
To address these concerns, the Committee summoned government-owned enterprises, including the Federal Inland Revenue Service (FIRS), Nigerian Communications Commission (NCC), Nigeria Customs Service (NCS), Nigerian National Petroleum Company Limited (NNPCL), among others. These entities are required to appear in person on Monday at 10 am.
latest
Don’t Burn Tyres On New Roads — FERMA Begs Abia Residents.
The Federal Road Maintenance Agency (FERMA) has appealed to residents of Abia State and other road users along the Aba–Azumini highway to protect the newly completed road from activities that could damage it.....KINDLY READ THE FULL STORY HERE▶
latest
Ndume Condemns Killing Of Soldiers, Civilians In Deadly Borno Attack.
Senator representing Borno South, Ali Ndume, has condemned the killing of six soldiers and several civilians in a Boko Haram attack on Mussa village in Askira Uba Local Government Area of Borno State.....KINDLY READ THE FULL STORY HERE▶
latest
Who Will Pay This Debt? — Expert Reacts as Nigeria’s Public Debt Hits ₦159 Trillion.
Financial expert Paul Alaje has warned that Nigeria’s rising debt burden will not only affect current citizens but also future generations.....KINDLY READ THE FULL STORY HERE▶
-
latest8 months ago“Social Media Erupts As Jim Iyke Declares Rita Dominic Nollywood’s Most Beautiful”
-
latest2 years agoEdo Political Showdown: Oshiomhole Appears At Presidential Villa As Tinubu Hands APC Gubernatorial Flag To Okpebholo (Photos & Video)
-
entertainment2 years agoLove Knows No Age American Woman Defends Marriage To Young Nigerian Man “I’m Not 70”
-
latest2 years agoOlumide Akpata Strikes Again: Drops Killer Track, Sends Edo State Into Frenzy!(Video)
-
Politics2 years agoNigerians React As Pastor Adeboye Foresees Passing Away On A Sunday After Enjoying A Satisfying Meal Of Pounded Yam
-
latest2 years agoFG Identifies 31 States At Risk Of Heavy Flooding In 2024: See Full List
-
Politics2 years agoBREAKING: Inspector-General Of Police Summons Top Police Commanders For Crucial-Security Challenges
-
latest2 years ago5 NYSC Corpers Perish In Fatal Road Accident Returning From Camp
