Police react after world famous monument of George Washington is defaced by Black Lives Matter protesters while NY city defunds police budget by $1b

                             New York City’s famous George Washington Monument has been defaced with red paint  by Black Lives Matter protesters as national protests continue over the police killing of black American George Floyd, while the New York City Mayor De Blasio prepares to sign a vote that will remove $1billion from the city’s police budget.     Mayor Bill Blasio reached an agreement with the city council on

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Senate passes revised 2020 budget of N10.8 trillion

The Senate has passed the revised 2020 budget of N10.8 trillion. The budget was passed this morning Thursday, June 11 during plenary.   The passage of the budget comes a day after the House of Representatives passed the same figure as the 2020 budget. The lawmakers increased the budget by N300 billion from N10.5 trillion. The budget was initially passed in December but the executive sent it back to National Assembly after the executive reworked it to reflect the current economic realities.  

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House of Representatives pass revised 2020 budget of N10.8trn

The House of Representatives has passed the revised 2020 Federal budget of N10.8 trillion from the initial N10.5 trillion submitted by the president.    The Executive had written to the lawmakers for a downward review of the budget from N10.6 trillion to N10.5 trillion based on the global economic realities as a result of the Coronavirus pandemic. The lawmakers however increased the budget to N10.8 billion, higher than the initial approved budget.   Based on the revised appropriation as passed by the house, statutory

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Banky W and Femi Kuti slam FG for giving N27bn to National Assembly for renovation after significantly slashing education and health budget

Banky W and Femi Kuti have slammed the federal government for giving N27bn to the National Assembly for renovation after slashing education and health budget.    In the revised budget, the National Assembly complex renovation budget was reduced to  N27.7bn (a reduction of 25.1 per cent) while the Basic Health Care Provision Fund which will take care of the welfare of all primary healthcare centres across the 774 local government areas in the country, was significantly reduced by N44.4bn to N25.5bn (a decrease of

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Lagos State reduces 2020 budget by 21%

The Lagos State government has started a downward review of the 2020 budget due to the adverse effects the COVID-19 pandemic has had on the economy.   The Commissioner for Economic Planning and Budget in Lagos, Sam Egube, disclosed this on Thursday, May 21.   He said that the review, approved by the State Executive Council, is aimed at reducing the N1.168 trillion budget approved by the Lagos State House of Assembly to N920.5 billion.   Egube said the initial budget figure contained a

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Federal Executive Council approves revised 2020 budget

The revised Medium Term Expenditure Framework and the 2020 budget has been approved by the Federal Executive Council.    The revised budget is based on $25 per barrel of crude oil at a production rate of 1.94 million barrels per day.   Recall that the Minister of Finance, Zainab Ahmed said that the revision will be based on declining international oil prices and the impact of the Coronavirus pandemic. She had also hinted that the federal government will drop the oil benchmark from the

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