Fiscal Allocation News Today

Implementing Oronsaye report is a welcome but belated decision. President Bola Tinubu would do shortly after his inauguration.

In a move long-awaited by many Nigerians, President Bola Ahmed Tinubu has ordered the implementation of the Oronsaye Report, a blueprint for restructuring

The Federal Executive Council (FEC) on Monday, gave its nod for the implementation of aspects of the 2012 Stephen Oromsaye Panel Report. Minister of Information and National Orientation, Mohammed Idris, disclosed this after the council meeting presided over by President Bola Tinubu at the Presidential Villa, Abuja. He said the go-ahead was given in a […]

Consequently, 29 government agencies will be merged even as eight parastatals will be subsumed into eight other agencies.

The Federal Executive Council (FEC), after twelve years, has given the go-ahead for full implementation of  aspects of the 2012 Stephen Oronsaye Report.

As reported by The Eagle Online, the Federal Executive Council on Monday opted to implement the Oronsaye report.

The Nigeria Extractive Industries Transparency Initiative (NEITI) and the Presidential Committee on Fiscal Policy and Tax Reforms (PCFPTR) have agreed to work

"These tiers of government should do more to justify these sums and eradicate poverty among Nigerians."

NEITI explained that sales refer to crude oil lifted for which payments are yet to be received. “The NNPCL records sales in the month they are made but has a 90-day window for receipt of domestic crude sales and 30 days for export sales”, it added.

The report noted the downward trend in receipt from 2019 to 2021, attributing this to "a factor of petroleum products consumption during that