Budget

Budget: Finance, power projects get lion’s shares of N1.16tn loans

The Ministry of Finance, Budget and National Planning will get the lion’s share, in terms of projects costs, of the N1.16tn multilateral and bilateral loans that the Federal Government is planning to get to part fund the 2022 Budget.

The Minister of Finance, Budget and National Planning, Zaynab Ahmed, had on Friday said from the N16.39tn budget that the President, Major General Muhammadu Buhari (retd.), presented to the National Assembly on Thursday, N10.13tn was projected to be generated as revenue and N6.26tn which is 3.39 per cent of Gross Domestic Product as deficit would be financed

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Dailytrust.How to finance 2022 budget without borrowing – By: Tunde Asaju.For the first time in many years, Ottawa, Canada's capital, gave me cause to smile. At the average of $1.45 per litre, the pump price of….3 hours ago

Dailytrust.How to finance 2022 budget without borrowing – By: Tunde Asaju.For the first time in many years, Ottawa, Canada’s capital, gave me cause
to smile. At the average of $1.45 per litre, the pump price of….3 hours ago… Read More

FG to borrow more to finance N6.258trn 2022 budget deficit as FEC okays N16.39 trn proposal

The Federal Government has revealed the plan to borrow more to finance the N6.258 trillion deficit in the proposed 2022 budget.

The Minister of Finance, Budget and National Planning, Hajiya Zainab Ahmed, announced this Wednesday after the Federal Executive Council (FEC) approved the 2022 Appropriation Bill for an aggregate expenditure of N16.39 trillion.

She said the government did not get enough from revenues, it would continue to borrow to fund infrastructure projects.

The minister, who said Nigeria’s revenues could barely accommodate services, added that the country’s borrowings are still within acceptable limits despite the concerns.

The minister, while reacting to

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2022 Appropriation: FG will Borrow to Finance N6.258trn Budget Deficit, Says Minister

  • FEC approves budget proposal

By Deji Elumoye

The federal government has disclosed that the N6.258 trillion budget deficit in the proposed 2022 Appropriation Bill will be financed through local and external loans.

The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, who made this known on Wednesday in a chat with newsmen at the end of the weekly virtual Federal Executive Council (FEC) meeting, presided over by President Muhammadu Buhari at the State House, Abuja also disclosed that FEC approved the proposed 2022 Budget of N16.39 trillion.

On why the country needs to borrow despite outcry from different

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We’ll borrow more to finance N6.258trn 2022 budget deficit

…Says borrowed money only 23% of GDP

…As FEC okays N16.39trn proposal

Approves $57 per barrel, 1.88 mbpd, N410.15/US$, N3.15trn oil revenue, N2.13 trn non-oil revenue

By Johnbosco Agbakwuru

DESPITE the outcry against frequent borrowing, the federal government Wednesday hinted of its plan to borrow more in order to finance the N6.258 trillion deficit in the proposed 2022 budget.

This is coming In the heels of the Federal Executive Council (FEC) approval of N16.39 trillion for the 2022 Appropriation Bill.

The Federal Government has also explained that the total money borrowed as at July 22 was 23

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Democrats’ Budget Would Finance Sweeping Clean-Energy Plan

The $3.5 trillion budget plan from congressional Democrats would finance a far-reaching transition to cleaner power, but it is expected to face opposition from parts of the energy industry and their industrial customers over provisions likely to raise their costs.

The plan calls for paying money to utilities that make a fast transition to cleaner fuels—and levying financial penalties for those that move slowly, one of several largely untested programs in the package. Others include tariffs on imports based on their production’s greenhouse-gas emissions, and creating first-of-their-kind fines on oil-and-gas producers for leaking greenhouse gases into the atmosphere from their … Read More

Booming Stock Market Provides Budget Surplus in California

In the early days of the pandemic, no one would have looked to the stock market for salvation. From February to late March last year, the S&P 500 suffered one of its sharpest crashes ever, falling nearly 34 percent. But once the federal government began pumping money into the markets and the economy through bond-buying programs and stimulus, the market began rebounding.

And professional money managers kept buying stocks. Amateur investors, stuck at home, piled into the market and drove up stock prices further. After hitting a bottom in March 2020, the S&P 500 is up nearly 90 percent, creating

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