Why we inserted N1.7 trillion projects in MDAs budget — Finance Minister

  • 📰 DailyPostNGR
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 59%

Business News News

Business Business Latest News,Business Business Headlines

The Minister of Finance, Zainab Ahmed, has disclosed that N1.7 trillion projects were inserted in the budget of 14 ministries, departments and agencies.

It would be recalled that some agencies during budget defence sessions in the Senate, claimed that projects worth billions were inserted in the budget without their consent.

She explained that in the past, loans were not included in the budget, however, for transparency, the federal government now includes loans in the budget. “To improve transparency and the comprehensiveness of the FGN budget, consistent with global best practice, we decided to fully capture these project tied loans in the FGN budget,” she said.

Ahmed added that N195 billion sources from different multilateral agencies is also domiciled in the budget of the Ministry of Power.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

NigeriaIsAMess

Free money

The occasional vandalism of this clueless administration lead the country into a mired financial collapse, moral decay, lawlessness, division, lack of leadership and direction.

The so-called cabal have really use this woman to loot Nigeria's treasury

Oh God luk at how dix ppl saying it out 1.7 trillion we poor ppl don't even have 100k, oh Allah look over us

From borrowed money. No repayment plan, sobriety or critical thinking. prodigalleaders on a 200 km/h speed towards Zimbabwe.

I remembered she said redesigning the naira without their consultation will be back with consequences now budget padding is path of the consequences she mention

It's called PADDING and APC introduced it

She know how to give reason this woman na waaaa oh

Free money

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 11. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Alleged N206bn budget padding: Arrest Finance Minister now - HURIWA tasks EFCCHuman Rights Writers Association of Nigeria (HURIWA), on Monday, tasked the Economic and Financial Crimes Commission to arrest or invite for interrogation
Source: DailyPostNGR - 🏆 11. / 59 Read more »

Delta debt profile stands at N272bn — Finance commissionerThe Delta State Government has disclosed that the state government's total debt profile currently stands at N272billion. Obidient Okowa is a criminal, the biggest criminal politician at the moment, he borrowed massively without doing anything, he got times two of what wike get and yet he cannot pay salaries and pension. Onye ori ka this man bu.
Source: MobilePunch - 🏆 8. / 63 Read more »

NNPC Retail, Nestle, MTN, others wins 2022 Africa Finance AwardsNNPC Retail, Nestle, MTN, others wins 2022 Africa Finance Awards The organisers of Africa Finance Awards have announced the winners of the 2022 edition to include NNPC Retail, Nestle Nigeria Plc., MTN, Infinity Trus
Source: THISDAY LIVE - 🏆 14. / 51 Read more »

Finance ministry denies budget padding - Daily TrustThe Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has refuted allegations of budget padding by some ministries, departments and agencies. Welcome to Nigeria where everything is possible
Source: Daily Trust - 🏆 13. / 51 Read more »