Economy Archives - Page 53 of 95

Dec

14

2023

Tinubu grants N9 billion to each state for infrastructure.

Economy, Metro, PoliticsBola Ahmed Tinubu, Economy, Next Level, Nigeria, Politics

According to the Presidency, the 36 states that make up the Federation have received N9 billion from President Bola Tinubu's administration. Bayo Onanuga, Tinubu's Special Advisor on Information and Strategy, stated that N7 billion had been given to states for the development of infrastructure, with the remaining amount going towards palliative fuel subsidy payments. He announced on X that the Federation Account Allocation Committee, or FAAC, had increased revenue allocation. Onanuga claims: "The Bola Tinubu presidency has provided the 36 Nigerian states with unprecedented support. They recently received N7 billion each for infrastructure support, on top of the N2 billion…

Dec

12

2023

By Amos Oge Kalu

Poverty cannot be reduced by the 2024 budget, a minister regrets

Economy, Metro, NewsMetro, Next Level, Nigeria, Politics

The ministry's meagre budget allocation has been bemoaned by Dr. Beta Edu, Minister of Humanitarian Affairs and Poverty Alleviation, who claims it is insufficient to reduce poverty. She raised the alarm while defending the 2024 budget of the ministry at the National Assembly on Tuesday in Abuja. She bemoaned before the Senate Committee on Poverty Alleviation, chaired by Senator Idiat Adebule, that the N532.5 billion budget, which is a 28% increase over the 2023 budget to offset inflation, was woefully insufficient. She maintained that the current economy's inflation rate of 27.33 percent does not correspond with the 28% increase in…

Dec

07

2023

By OHAFIATV

Millennial Expectations on infrastructural development set by ECK Foundation

Abia State, Economy, Health, Lifestyle, Metro, PoliticsECK Foundation, Economy, Emeka Kalu, Health, Politics

ECK Foundation: Particularly in these trying times, infrastructure development continues to be the primary factor in improving people's lives and state of health. Giving lives the full attention they need to improve and live longer is essential to putting human society back on the path to greatness. Economically speaking, human civilization must flourish in areas with robust supplies of the social amenities that significantly improve and sustain quality of life. The ECK Foundation was founded with this idea in mind to better assist you. Health is riches, and we care more about improving it than the pyramids of Egypt. There…

Nov

30

2023

By Amos Oge Kalu

Ex-Benue Gov. Suswam explains why 2024 budget cannot be implemented

Economy, Opinion, Politics2023, Bola Ahmed Tinubu, Economy, Next Level, Nigeria, Politics

Gabriel Suswam, a former governor of Benue State, has criticised President Bola Tinubu's planned budget for 2024. Suswam clarified that the N17 trillion shortfall in the budget prevents it from being implemented. On Wednesday, Tinubu gave the National Assembly members a proposed budget of N27.5 trillion for the fiscal year 2024. Suswam countered that the budget was developed because those in positions of authority lacked leadership abilities. On Wednesday, the former governor gave a speech to 25 fellows of the Emerging Political Leaders Fellowship. Suswam states: "I was looking at the budget, and the deficit is N17 trillion out of…

Nov

29

2023

By Amos Oge Kalu

Supreme Court says that until further notice, old and new naira notes will coexist.

Business, Economy, MetroBusiness, CBN, Court, Economy, Metro, Naira, Nigeria

The Federal Government's appeal to extend the life of the N200, N500, and N1000 notes—which were redesigned during President Muhammadu Buhari's most recent administration—has been granted by the Supreme Court. A panel of seven judges on the top court, chaired by Justice John Okoro, ruled on Wednesday morning that the old notes will remain legal money until the infrastructure needed to replace them is in place. As to the ruling of the Supreme Court, the outdated notes are allowed to coexist as legal tender alongside the updated ones. The Federal Government's motion was heard on Wednesday and was made by…