Tag: Finance Minister
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Minister inaugurates FIRS board, announces date of commencement of new VAT regime
Mrs Zainab Ahmed, the Minister of Finance, Budget and National Planning said the implementation of the new regime of 7.5 per cent Value Added Tax (VAT) will take effect from Feb. 1. Ahmed said this during the inauguration of the Chairman and Board members of the Federal Inland Revenue Service (FIRS) in Abuja on Thursday.…
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How Dangote Refinery will help Nigeria save $11bn upon completion – Finance Minister
Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has said Dangote Petroleum Refinery will save the nation $11 billion. The money would have been used for importation of petroleum products. The minister noted that the refinery will also encourage other investors to better understand the need to invest in the economy. Mrs Ahmed…
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Budget 2020: New minimum wage, personnel costs to gulp N4.88trn – Finance Minister
By Emman Ovuakporie The Minister of Finance, Zainab Ahmed on Wednesday revealed plans by the Federal Government to expend N4.88 trillion for payment of the new national minimum wage and other personnel costs in the 2020 fiscal year. Ahmed who disclosed this during the National budget public hearing on the 2020 budget estimates at the…
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Finance Minister counters DMO, says Nigeria’s debt more than N25.7tn
The Minister of Finance, Budget and National Planning, Zainab Ahmed, on Thursday said there are debts owed by states and government enterprises that have not been captured in the N25.7 trillion recently declared as total national debt. Ahmed made this known during a panel discussion on Debt Transparency at the ongoing World Bank/IMF Annual Meetings…
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Proposed increase in VAT: Senate to invite finance minister, FIRS chairman
The Senate Committee on Finance says it will invite the Minister of Finance and the Chairman, Federal Inland Revenue Service, (FIRS) to give details on reasons for the proposed increase in Value Added Tax (VAT). The Chairman of the Committee, Sen.Solomon Adeola, made the disclosure in a statement issued by his Media Adviser, Mr Kayode…
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N24.39tr debt profile: Why Nigerians do not have to worry – Finance Minister
The Federal Government has said the nation is not in any way near a debt crisis despite its current N24.39 trillion (about $79.44 billion) debt profile. The debt figure, which, as at December 31, 2018, comprised Eurobond loans, facilities from the World Bank Group, China and Africa Development Bank Group constitute over 80 per cent…
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Nigeria’s Finance Minister Appointed Board Chair of AU Peace Fund
The Africa Union (AU) on Thursday in Addis Ababa, Ethiopia appointed Minister of Finance, Mrs Zainab Shamsuna Ahmed as chairperson of Board of Trustees of the AU Peace Fund. In a statement issued by the Special Adviser to the Minister on Media and Communications, Mr Paul Ella Abechi, the minister expressed appreciation and commitment towards…
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No Cause For Alarm Over FG’s Borrowing Plan – Finance Minister
…says revenue growing successfully The Minister of Finance, Mrs Zainab Shamsuna Ahmed, has assured Nigerians that there is no cause for alarm over Federal Government’s borrowing as it still remains within the fiscal limits. The minister made the disclosure in a statement signed by the Special Adviser to the Minister of Finance on Media and…
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Executive Order 007: Finance Minister Heads 13-Man Management Committee
…Dangote, 5 investors set to execute 19 road projects in 11 states Following Federal Government’s resolve to continue with massive infrastructural development across the country under Executive Order #007 signed by President Muhammadu Buhari on Friday, the Minister of Finance, Mrs Zainab Shamsuna Ahmed, will chair the 13-man Scheme’s Management Committee of various road and…
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Finance Minister Unveils FG’s Strategic Revenue Growth Initiatives
….to deploy strong coordinating mechanism The Minister of Finance, Zainab Shamsuna Ahmed, Wednesday, unveiled Federal Government’s Strategic Revenue Growth Initiatives (SRGI) for sustainable revenue generation in all sectors of the economy. Ahmed who did the unveiling as contained in a statement signed by the Special Adviser to the Minister of Finance on Media and Communications,…