Udoma said as international development partners explored areas of support to help Nigeria grow a sustainable economy, the Federal Government would consider borrowing to fund targeted infrastructure projects
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The report, which was presented to the President of the Senate, Dr. Abubakar Bukola Saraki, by the Leader of the Senate, Ali Ndume, recommended that annual budget be presented in the first week of September
Senator Udoma gave the explanation in Lagos at the weekend while briefing newsmen on the forthcoming Nigeria Economic Summit
The forum is the Gallery Colloquium organized by OrderPaper.ng, Nigeria’s premier independent parliamentary reporting newspaper
The Governors made their position known during the National Economic Council meeting in Abuja on Thursday
Ekweremadu gave the advice during plenary when the Senate debated the way out of the country’s economic recession
The Ministers spoke at the Presidential Quarterly Business Forum between the Private Sector and the Economic Management Team in Abuja on Monday
he Minister of Budget and National Planning, Udoma Udo-Udoma, made this known while briefing State House correspondents after the Federal Executive Council meeting, which was presided over by President Muhammadu Buhari
The statement, signed by Media Adviser to the Minister, James Akpandem, said Udoma would perform the assignment with the Minister of State in the ministry, Zainab Ahmed
Udo-Udoma said this at the opening ceremony of the FIRS 2016 Corporate Strategy Retreat, titled: “Optimising non-oil tax revenue collection through compliance and enforcement”
Udoma was quoted as having told the AfDB team: “Our budget is achievable; we have ongoing reforms targeted at diversifying our revenue base away from single oil commodity economy
The federal executives, who gave the warnings when they appeared before the joint committees of the National Assembly on Finance to defend the 2016, 2017 and 2018 Medium Term Expenditure Framework and Fiscal Strategy Paper, MTEF & FSP, documents presented to the National Assembly by President Muhammadu Buhari are Ministers for Budget and National Planning, Udoma Udo Udoma; Finance, Mrs Kemi Adeosun and State for Petroleum Resource,Ibe Kachikwu; Governor, Central Bank of Nigeria, Godwin Emefiele and Executive Chairman, Federal Inland Revenue Service, FIRS, Babatunde Fowler
This is coming as crude oil prices hit a seven-year low with global reference crude, West Texas Intermediate and Brent trading on Monday at $34.7 and $36.7 per barrel respectively, effectively disrupting Nigeria’s $38 per barrel benchmark for 2016 budget
Udoma said the proposal was contained in the Medium Term Expenditure Framework approved by the council