Nigeria’s Federal Government says it will rely less on borrowing and focus more on mobilizing domestic resources to strengthen the economy. Minister of Finance, Wale Edun disclosed this during an interview with Bloomberg Television at the World Economic Forum in Davos, Switzerland, stressing that revenue generation is now the government’s top priority. Edun explained that […]
The Federal Government is set to miss its 2025 revenue target by a staggering N30 trillion, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has revealed. Speaking on Tuesday during an interactive session with the House of Representatives Committees on Finance and National Planning, Edun disclosed that while the government projected […]
.Slashes crude oil production to 1.7mbpd, from 2.18mbpd .Approves N500bn Covid-19 crisis fund The Federal Government has announced its decision to revise the benchmark oil price for 2020 fiscal year from $57 per barrel to to US$30 per barrel. Also, the Federal Government has also slashed crude oil production to 1.7mbpd, from 2.18mbpd as stated […]
.Says Nigeria’s economy already fragile prior to COVID-19 spread .Seeks National Assembly’s support to fight pandemic Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has said the global economic downturn caused by coronavirus may have adverse effects on Nigeria’s economy. The Minister made disclosure in her recent presentation on the current state of […]
Minister of Finance, Budget and National Planning, Hajia Zainab Ahmad has revealed that about 55 per cent of members of the Academic Staff Union of Universities (ASUU) have been registered in the Integrated Payroll and Personnel Information System (IPPIS). Shamsuna, who gave the hint while addressing newsmen at the opening of the 2020 management retreat […]
Lagos – Dr Zainab Ahmed, Minister of Finance, Budget and National Planning, on Friday said that Value Added Tax (VAT) increment would contribute to inflation rise, said that it would moderate over time. She further dispelled the report that the Federal Government was planning to borrow N2trillion pension funds for infrastructure development. Ahmed stated this […]
Joseph Inokotong Few days to the end of her tenure, the Minister of Finance, Mrs Zainab Shamsuna Ahmed on Friday in Abuja, inaugurated the Steering Committee for “Project Lighthouse” targeted at boosting the revenue drive of the nation’s economy. In a statement by the Minister’s Special Adviser on Media and Communications, Mr. Paul Ella Abechi, […]
The Minister of Finance, Mrs. Kemi Adeosun, on Tuesday called for more technical and institutional support from the Africa Regional Technical Assistance Center West 2 (AFRITAC West 2) for West African countries. Adeosun made the call while declaring open the sixth Steering Committee meeting of the IMF –AFRITAC West 2 in Abuja, which was attended […]
MTN Foundation has donated food and household items under its Orphanage Support Initiative to Olive Blooms Orphanage Home in Lagos. The Minister of Finance, Mrs. Kemi Adeosun, handed over the goods on Friday in Lagos to the Founder of Olive Blooms Orphanage Home, Mrs. Ngozi Ken Ugochukwu. Special Adviser to the minister on Media and […]
The Minister of Finance, Mrs. Kemi Adeosun has advised tax payers to demand for written notice when they receive phone calls from tax officials. She gave this advice in response to the activities of some fake tax officials alleging to be officials of the Voluntary Assets and Income Declaration Scheme (VAIDS). In a statement on […]
Minister of Finance, Mrs. Kemi Adeosun, has called for the designation of tax malpractices by Multinational Corporations in Nigeria and other developing countries as ‘foreign corrupt practices’ and should be followed with heavy sanctions. Adeosun made the call at the Platform for Collaboration on Tax (PCT) Conference in New York, which rounded up over the […]
…Nigeria, global bodies move to stop Illicit Financial Flows The Minister of Finance, Mrs Kemi Adeosun has said that Africa loses whopping $80 billion annually quoting the report of former South African President Mbeki’s High-Level Panel on IFFs, the Minister said that the money are lost to Illicit Financial Flows (IFFs), with a significant percentage […]
The Federal Account Allocation Committee (FAAC) has shared a whopping N655.177 billion to the three tiers of government being the monthly allocation for the month of December 2017. Chairman of FAAC and Minister of Finance, Mrs Kemi Adeosun who announced the figures on Tuesday, said that the gross statutory revenue of N540.446 billion received for […]
Nigeria’s Minister of Finance, Mrs. Kemi Adeosun, has called for a strong and well capitalized African Development Bank (AfDB) that is capable of fulfilling its commitments to member-countries. Adeosun made this call at the Regional Consultative Meeting between the AfDB President, Mr. Akinwumi Adesina and the Bank’s Governors and Ministers of Finance from West Africa […]
The United Nations has appointed Nigeria’s Minister of Finance, Mrs. Kemi Adeosun into the Investments Committee of the United Nations (UN) Joint Staff Pension Fund (UNJSPF). The Under-Secretary-General of the UN, Jan Beagle, who confirmed Adeosun’s appointment, disclosed that the Minister would serve a one-year term of office effective January 1, 2018. The UNJSPF is […]
The Federal Government has commenced the release of the N750 billion capital projects for 2017 to Ministries, Departments and Agencies (MDAs). Minister of Finance, Mrs. Kemi Adeosun stated this on Monday during the ministry’s budget defense when she appeared before Senate Committee on Finance at the National Assembly complex in Abuja. “The accounts of the […]
The Minister of Finance, Mrs. Kemi Adeosun, has said that the whistleblower who provided information that led to the recovery of N13 billion cash by the Economic and Financial Crime Commission (EFCC) in Ikoyi, Lagos private home will be paid this month. Adeosun, who explained that the delay was due to the need to follow […]
The Minister of Finance, Mrs. Kemi Adeosun, has said that the Federal Government’s Offshore Tax Havens will no longer offers protection for tax evaders. She said that the government would crosscheck offshore tax declaration by Nigerians. Adeosun advised Nigerians to review any existing tax planning schemes, including those in offshore tax havens, in order to […]
Minister of Finance, Mrs. Kemi Adeosun, in this piece, gives insight into the Federal Government’s strategies to rejig the economy. Excerpts Introduction Since the middle of 2014, when the price of crude oil fell dramatically, Nigeria’s finances became challenged. This is not hard to explain: we’ve historically depended on crude oil for as much as […]
Mathew Dadiya and Samiat Oduwole, Abuja The total revenue accrued to the Federation Account Allocation Committee (FAAC), has dropped significantly by N127.023 billion, just as the FAAC on Tuesday, distributed N558bn to the three tiers of government for the month of September 2017. Chairman of FAAC and Minister of Finance, Mrs. Kemi Adeosun, while addressing […]