Business Featured Top Stories

Why we reviewed crude oil price to $30 per barrel – FG

Ihesiulo Grace 7 April 2020 0

.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

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COVID-19 may have severe implications on Nigeria’s economy-Ahmed

Ihesiulo Grace 31 March 2020 0

.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

News

No February salary for ASUU members not on IPPIS-Minister

Ihesiulo Grace 5 March 2020 0

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 […]

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VAT increment would contribute to inflation rise – Minister of Finance

Ihesiulo Grace 1 February 2020 0

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 […]

News

FG inaugurates ‘Project Lighthouse’ to boost revenue drive

Ihesiulo Grace 24 May 2019

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, […]

Business

Adeosun seeks more technical, institutional support for West Africa’s economy

Ihesiulo Grace 13 March 2018 0

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 […]

News

Adeosun, MTN Foundation donates food, household items to Orphanage

Ihesiulo Grace 11 March 2018 0

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 […]

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Adeosun urges tax payers to demand for written notice from tax officials

Ihesiulo Grace 4 March 2018 0

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 […]

Business Top Stories

Adeosun calls for strict sanctions on multinationals evading tax

Ihesiulo Grace 20 February 2018 0

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 […]

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Africa loses $80bn annually through money laundering

Ihesiulo Grace 17 February 2018 0

…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 […]

Economy

FAAC distributes N655.177bn to FG, States, LGAs

Ihesiulo Grace 24 January 2018 0

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 […]

Business

Adeosun seeks AfDB’s cooperation for African resources’ mobilisation

Ihesiulo Grace 17 January 2018 0

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 […]

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UN appoints Adeosun into pension fund’s investments committee

Ihesiulo Grace 14 January 2018 0

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 […]

Business

FG Releases N750bn Capital Projects Fund to MDAs

Ihesiulo Grace 19 December 2017 0

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 […]

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N13billion recovery: Whistleblower ‘ll be paid this month – Finance Minister

Ihesiulo Grace 13 November 2017 0

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 […]

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Tax Havens: FG to crosscheck Offshore tax declaration by Nigerians

Ihesiulo Grace 8 November 2017 0

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 […]

Business Features

How we ‘re positioning Nigeria for a prosperous future- Adeosun

Ihesiulo Grace 30 October 2017 0

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 […]

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Revenue drops by N127bn as FG, states, LGAs share N558bn

Ihesiulo Grace 25 October 2017 0

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 […]

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Nigeria won’t be reckless with foreign borrowings, Adeosun insists

Ihesiulo Grace 16 October 2017 0

· IMF, World Bank project positive growth for Sub-Saharan Africa in 2018 Mathew Dadiya, Abuja The Minister of Finance, Mrs. Kemi Adeosun, has said that the Federal Government will not be reckless with foreign borrowings as it maintains an expansionary fiscal policy. Adeosun also revealed that the International Monetary Fund (IMF) and the World Bank […]

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Revenue increases as FG, States, LGAs share N637.704bn for August

Ihesiulo Grace 29 September 2017 0

There was a significant increase in revenue generation for the month of August 2017, as the Federation Account Allocation Committee (FAAC) distributed whopping sum of N637.704 billion to the three tiers of government. Chairman of FAAC and Minister of Finance, Mrs Kemi Adeosun, represented by the Accountant General of the Federation Mr. Ahmed Idris who […]