Nigeria may demand increased daily crude oil production from OPEC+ in March when the restriction placed on the country’s production quota is expected to be lifted. OPEC+ had placed the restriction on Nigeria and Iraq for failing to comply early enough with the oil cartel’s production cuts occasioned by the outbreak of the COVID-19 pandemic….
Capital component of the 2020 budget only attained 30 percent implementation as at December 31, 2020. BusinessDay recalled that to ensure full implementation of the 2020 budget, the National Assembly extended the capital component of the budget to March 31, 2021. Zainab Ahmed, minister of finance, disclosed this on Monday while responding to questions on […] Read Full Story
The Muhammadu Buhari administration would have left a worthy legacy if it had pursued its projects with utmost transparency and without undue politicisation. At no time, since Nigeria’s return to civil rule in 1999, had citizens shown as much mistrust in government and governance as they have now. The feeling of hopelessness is not just […] Read Full Story
The gross monthly distribution by the Federation Account Allocation Committee (FAAC) to the three government tiers and eligible agencies totalled NGN640bn (USD1.56bn) in February, 2021. This was NGN21bn above the previous month’s payout according to a report by FBNQuest. This latest payout to states falls far short of their spending, which averaged NGN351bn per month […] Read Full Story