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ANALYSIS: Nigeria’s budget and bogus oil benchmarks

In the last ten years, Nigeria has been unable to meet its oil production benchmark signifying a pattern of failing in executive planning and legislative approval of the country’s annual budgets Nigeria set its first Medium-Term Expenditure Framework (MTEF) benchmark for crude oil in 2004, which was about 19 years ago. The MTEF provides a framework for Nigeria’s annual budgeting process, including revenue projections and expenditure estimates for a period of three years. It also...

Speaker reiterates move to amend fiscal responsibility act

The Speaker’s reiteration of the stated resolve of the National Assembly to amend the Fiscal Responsibility Act gives an additional boost to the advocacy efforts of the GIFT project    Speaker of the House of Representatives, Rep. Tajudeen Abass has restated that the National Assembly will review the Fiscal Responsibility Act (FRA), 2007, after the passing the 2024 budget. The Speaker said this on Monday, 4th December 2023, at a Citizens Townhall on the 2024...

FOR THE RECORD: Why 10th NASS will work with President Tinubu

President of the Senate, Godswill Akpabio, in his welcome remark at the 2024 budget presentation session, outlines why the 10th National Assembly is proud to work collaboratively with President Bola Tinubu. “On behalf of the Right Honourable Speaker of the House of Representatives, the Distinguished Deputy Senate President, the Right Honorable Deputy Speaker of the House of Representatives, the Distinguished Senate Leader, Principal Officers of both Chambers, Distinguished Senators and Honourable Members of the House...

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