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The Federal Government has slashed the maximum reimbursable imprest for ministers to 700,000 naira as part of a severe fiscal tightening campaign. This cash ceiling represents a key pillar of a new regulatory strategy designed to curb institutional waste across Ministries, Departments, and Agencies. The sharp reduction appeared in the 2026 Annual General Imprest Warrant…
Nigeria’s state governments have abruptly tightened their purse strings. Capital expenditure across 26 states fell by 58% in the first quarter of 2026, dropping to N1.59tn from N3.79tn in the previous quarter. This N2.2tn contraction signals a sharp pivot away from infrastructure as the 2027 general elections approach. While roads and hospitals wait, political alignments…
The Central Bank of Nigeria has ordered state governments to end their addiction to overdrafts and short-term loans. This fiscal recklessness now threatens the bank’s planned shift to a rule-based inflation-targeting framework. Deputy Governor Muhammad Abdullahi warned state officials on Sunday that expansionary spending at the sub-national level blunts the edge of monetary policy. States…
The scrutiny of Nigeria’s public finances intensified yesterday as lawmakers critically assessed the Independent National Electoral Commission’s (INEC) proposal for N873.78 billion to fund the 2027 general elections. Tensions flared as the Commission defended its early budget request, highlighting ongoing issues with fund allocation and financial mismanagement that have plagued several government agencies. During…
