Hot News
Senate passes revised 2022-2024 expenditure framework, FST
The Nigeria Senate on Wednesday passed a revised Medium Term Expenditure Framework and Fiscal Strategy Paper sent to the National Assembly by President, Major General Muhammadu Buhari(retd.) on Tuesday.
The MTEF and FSP are parameters on which yearly Appropriation Bills are predicated.
In the revised MTEF for 2022-2024, President, Major General Muhammadu Buhari(retd.) had increased the projected aggregate expenditure of the Federal Government for the 2022 fiscal year from N13.98 trillion to N16.45 trillion.
However, the Senate approved N16.39trillion as Federal Government’s projected aggregate expenditure for year 2022, representing a reduction of N60billion from the N16.45trillion total expenditure proposed by the President.
President, Major General Muhammadu Buhari(retd.) had in his letter requesting for a review of the 2022-2024 MTEF, explained that the needed adjustments were important to reflect “the new fiscal terms in the Petroleum Industry Act (PIA)”.
In July, the Federal Executive Council initially approved N13.98 trillion as proposed 2022 aggregate expenditure of the Federal Government prior to the passage of the PIA.
Details shortly…
-
Economy23 hours ago
Tinubu suspends controversial cybersecurity levy
-
Environment23 hours ago
Police arrest Portable over unpaid 14m G-Wagon debt
-
News12 hours ago
Osun First Bank manager steals N650m belonging to 35 customers
-
Sports10 hours ago
RUMOUR: Man United eye Kieran McKenna as potential Ten Hag replacement
-
News12 hours ago
NCC accuses MTN MD of evading court service
-
News12 hours ago
JAMB releases additional 36,450 results earlier withheld
-
Metro11 hours ago
EFCC arrests 13 fake BDC operators in Lagos
-
News7 hours ago
Emefiele gets N300m bail over unlawful new naira note printing