Posted on Thu 13 Sep 2018, 03:06 PM

The Ekiti state house of Assembly approved an additional N9.9bn to the initial N98.6bn 2018 Budget 

At the sitting which commenced at around 12pm, and presided over by Speaker, the bill went through first, second readings and committee review before its passage within the hour.

Journalists were barred from entering the hallowed chamber to cover the event.

Posted on Thu 21 Jun 2018, 05:04 PM

2018 budget of consolidation breakdown:

Total Expenditure - N9.12tn

Revenue projection - N7.17tn

Recurrent expenditure - N3.51tn

Capital expenditure - N2.87tn

Budget deficit- N1.95tn

Oil revenue-N2.99tn

Non-oil revenue- N4.18tr

Debt service - N2.01tn

Sinking fund- N190bn

Statutory transfer - N520bn

Key assumptions and macro-econimic framework of 2018 budget :

Oil production- 2.3mbpd

Oil price - $51pb

Exchange rate - N 305/$

Inflation -12.4%

Posted on Thu 21 Jun 2018, 04:37 PM

A Federal High Court in Abuja, has ruled that the National Assembly has the power to increase – or review upward – budget estimates laid before it by the executive. 

This followed a suit by Seniir advicate of Nigeria Femi Falana, in which he listed the President, the Attorney-General of the Federation, the National Assembly and the Auditor-General of the Federation as respondents.

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