Wednesday, June 16

Tag: Cash Crunch

States Face Cash Crunch, Salaries Swallow Revenues, Federal Govt Seeks More Fund
Politics

States Face Cash Crunch, Salaries Swallow Revenues, Federal Govt Seeks More Fund

Two top officials of the Muhammadu Buhari regime on Wednesday indicated that the country urgently needed more funds to run government and provide basic amenities for Nigerians. Although the Minister of Finance, Budget and National Planning, Zainab Ahmed, in an interview with the State House correspondents faulted a claim by the Edo State Governor, Godwin Obaseki, that the Federal Government printed between N50bn and N60bn in March, she said there was a need to improve revenue to run government. On his part, the Accountant-General of the Federation, Ahmed Idris, at the 2021 retreat for members of the technical sub-committee on cash management, stated that there was increasing pressure on government funds. The minister and the accountant-general of the federation said these as inv...
National Assembly Proposes 235 New Tertiary Institutions, Despite Cash Crunch
Education, Politics

National Assembly Proposes 235 New Tertiary Institutions, Despite Cash Crunch

Bills are at different stages of legislative activities at the National Assembly for the establishment of 235 new federal universities, polytechnics, colleges of education and specialised institutions despite poor funding of the existing federal tertiary institutions. Checks by Daily Trust show that the federal government currently has 119 universities, polytechnics, colleges of education and monotechnics. Various labour unions in the tertiary institutions and the federal government often haggle over salaries and other school running costs, hence frequent strikes by staff of the institutions. In 2020, a strike by the Academic Staff Union of Universities (ASUU) over a payroll system and condition of the universities lasted nine months. Not long after ASUU ended its strike, ano...

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