The Nigerian National Petroleum Company Limited (NNPCL) has said that a litre of the Premium Motor Spirit (PMS), also known as petrol, will cost consumers N462 with the removal of the government’s subsidy. From the latest data, the Nigerian government has spent N1.593 trillion between January and June 2022 on petrol subsidy.
The presidential candidate of the Labour Party (LP), Mr Peter Obi, last Monday, said that Nigeria exhibits some features of a failed state. Obi, who was speaking at the just concluded Annual General Meeting (AGM) of the Nigerian Bar Association (NBA) while making a case for his candidacy, reminded Nigerians about the dangerous trajectory the […]
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Prior to his entry into public service as Representative of the First District of Leyte, House Speaker Ferdinand Martin G. Romualdez spent a greater part of his professional life in the private sector. He held several executive positions and directorships for big companies, among them E
Speaker Martin Romualdez (File photo) MANILA - Leaders of the House of Representatives on Thursday met with Finance Secretary Benjamin Diokno to discuss the Marcos administration's 2022-2028 Medium-Term Fiscal Framework (MTFF) that aims to attain short-term macro-fiscal stability while remaining supportive of the economic recovery and promoting medium-term fiscal sustainability. Speaker Martin Romualdez said Diokno invited the House leaders to his new office to discuss ways to forge tighter coordination and smooth working relationship between the Executive and the Legislative departments. Romualdez said the House leaders reiterated the chamber's decision, as contained in House Concurrent Resolution No. 2, to extend full support to the six-year fiscal plan. "We agree on one thing: the MTFF should be a fiscal consolidation and resource mobilization plan. The objective: in the short run, keep the macroeconomy stable and provide adequate social services; in the medium term, ge
(Photo courtesy of House Press and Public Affairs Bureau) MANILA - The House of Representatives on Monday adopted a resolution supporting the Marcos administration's 2022-2028 Medium-Term Fiscal Framework (MTFF) that would serve as an "anchor" for the annual spending and financing plan of the national government and for Congress when preparing the annual budget. During the plenary session, the chamber adopted House Concurrent Resolution No. 2, which aims to attain short-term macro-fiscal stability while remaining supportive of the economic recovery and promoting medium-term fiscal sustainability. Marikina City Representative Stella Quimbo, in her sponsorship speech, said the MTFF is a comprehensive document that outlines a holistic and comprehensive policy direction for the country, both in the immediate and medium-term. Quimbo said the MTFF contains an 8-point socio-economic agenda aimed towards immediate job creation and poverty reduction. She also emphasized the need t