Nigeria: 72 Hours to End of Year - Buhari Yet to Assent to 2021 Budget allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.
It was learnt that pressure is being mounted on the president to sign the fiscal document so as not to give room for condemnation.
Buhari signed the 2020 appropriation bill into law on December 17, 2019, 12 days after it was passed by the National Assembly.
The document was later revised mid- 2020 following the outbreak of COVID-19 pandemic, which battered the country’s economy.
The National Assembly had, during an emergency session convened last week Monday, passed a N13.58 trillion budget for the 2021 fiscal year.
Passed by NASS
The budget was passed after the two chambers considered and adopted the reports of its committees on the 2021 Appropriations bill.
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One of the campaign promises of President Muhammadu Buhari was to stage an all-round war against corruption using the Economic and Financial Crimes Commission (EFCC). It is almost six years down the line and to say that genuine efforts have been made in this war, would be akin to a scenario where a basket is being used to fill a bucket. However, the Buhari administration believes otherwise. It is of the opinion that a milestone in the corruption fight was is gradually being reached.
The Street Journal shares some of these corruption cases tied with unusual strings of controversies.
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FOR close to five decades, crude petroleum has dominated Nigeria’s economy, accounting for about 90 per cent of the country’s foreign exchange earnings, 65 per cent of all government revenues and by 2018, it contributed 88 per cent of foreign reserves. Although the oil industry is not known to contribute mass employment, it has generated at least 600,000 employment opportunities through various projects in the last 10 years. According to statistics, the Industry has shaped Nigeria into the largest oil producer in Africa and the fifth largest LNG producer in the world.
Nonetheless, there is a belief among industry experts that the country has not make the most of the potentials which the industry holds like Saudi Arabia, Brazil and Russia had over the years. And so, for many years, various administrations have made efforts beginning from around 2007 with the introduction of Petroleum Industry Bill (PIB) to replace the existing collection of 16 laws and regulations. For 13
Nigeria: Govt Targets U S $200 Million Yearly Revenue From NPDC Gas Facility allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.