Unless the Monetary Policy Committee (MPC) makes a U-turn on its aggressive monetary tightening, the Federal Government may pay as much as N4.65 trillion servicing its debt held by the Central Bank of Nigeria (CBN) this year. As at the end of last year when President Muhammadu Buhari sought the …
Read More »National Assembly to Finalize N22.7 Trillion Debt Restructuring
The Senate is prepared to adopt the N23.7 trillion debt restructuring proposal made by President Muhammadu Buhari in December of last year, according to Senate President Ahmad Lawan. The Senate also accused the Minister of Finance, Zainab Ahmed, and the Governor of the Central Bank of Nigeria, Godwin Emefiele, of …
Read More »Nigeria’s Debt Stock Rises by N6.7 Trillion in 11 Months – Reports
The Nigeria’s total debt stock has increased by N6.7 trillion from N32.9trillion as of December 2020 to N39.6 trillion in November 2021. The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, in her presentation of the 2022 approved budget, disclosed that the government borrowed N6.7tn between January and …
Read More »Nigerians to Pay VAT for Digital Services – FG
Nigerians may have to pay more for digital services as the Federal Government has introduced a policy requiring foreign companies that provide digital services in the country to collect and remit Value Added Tax to the Federal Inland Revenue Service. The Minister of Finance, Budget and National Planning, Zainab Ahmed, …
Read More »Debt Servicing Gulps N1.8 Trillion in Five Months – FG
The Federal Government says it released N973.13bn for the implementation of capital projects contained in the 2021 budget between January and May. It also disclosed that debt servicing gulped N1.8tn within the same timeframe. The Minister of Finance, Budget and National Planning, Zainab Ahmed, disclosed these at the presentation of …
Read More »2020 Budget Performance: FG Releases 1.74 Trillion to MDAs for Capital Component
The Minister of Finance, Budget and National Planning, Zainab Ahmed, has said as at December 2020, Federal Government recorded 89 per cent release to Ministries Departments and Agencies (MDAs) for capital component of the 2020 budget. Ahmed, who made the disclosure at an interactive session with the leadership of National …
Read More »FG Moves for Full Implementation of ECOWAS Brown Card
The Federal Government has moved for the full implementation of the ECOWAS Brown Card Insurance Scheme to guarantee prompt compensation to victims of road accident within the ECOWAS member states. The Minister of Finance, Budget and National Planning, Zainab Ahmed, said this while speaking at the inauguration of Mr Ganiyu …
Read More »FEC Approves N13.08 Trillion for 2021 Budget Estimate
The Federal Executive Council has approved a budget estimate of N13.08tn for the 2021 fiscal year. The fiscal document was approved at a meeting of the council on Wednesday presided over by the President, Major General Muhammadu Buhari (retd.). The Minister of Finance, Budget and National Planning, Zainab Ahmed, disclosed …
Read More »Huawei Places Total Investment in Nigeria at $76 Million
Huawei Technologies Company Nigeria Limited, a leading information communication technology (ICT) solution supplier in the Nigeria telecoms market said it has made a total investment of $76 million in the country. Mr Trevor Liu, managing director of Huawei Technologies Company Nigeria Limited, made this known when he visited Mrs Zainab …
Read More »FG Makes Plan to Generate N18 Trillion Revenue
The Federal Government on Thursday said it had identified oil and non-oil initiatives that could help the country generate between N13tn to N18tn and achieve its 15 per cent revenue to Gross Domestic Product target. It also stated that states would need to generate N3.4tn to realise this, adding that …
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