Nigeria’s Senate has passed the record N10.59 trillion 2020 budget. The budget passed by Nigeria's parliament assumes a deficit of 1.52 per cent of the estimated Gross domestic product (GDP) – representing about N2.18 trillion to be financed through foreign and domestic borrowing. Chamberlain Peterside, CEO of Xcellon Capital Advisors joins CNBC Africa to unpack the budget.
The Senate’s Public Accounts Committee has vowed to investigate alleged over-spending by the Niger Delta Development Commission (NDDC). The Senate said it is interested in some areas of expenditure of the NDDC. The Senate's planned investigation is coming a few days after President Muhammadu Buhari ordered a forensic audit of the operations of the NDDC.
As Nigerians await President Buhari's budget presentation before a joint session of the National Assembly, we find out what areas are pertinent to the power sector. For this discussion, George Etomi, Director of Eko Electricity Distribution Company joins CNBC Africa.
Francesco Galietti, founder and chief executive officer at Policy Sonar, and David Kohl, head of currency research at Julius Baer, discuss the results of the European elections and a possible disciplinary procedure by the European Commission over Italy's failure to reduce its debt.