The Federal Executive Council (FEC) has approved a budget estimate of N13.08 trillion for the 2021 fiscal year. The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, who disclosed this to State House correspondents at the end of the council’s meeting on Wednesday, explained that the budget proposal was designed to enable the […]
Determined to correct the structural defects in Nigeria’s fiscal regime, especially the structural imbalances in oil and non-oil revenue collections, the Federal Executive Council (FEC) on Wednesday approved a hike in the nation’s Value Added Tax rate to 7.2 per cent, up from the current five per cent rate. The Minister of Finance, Budget and […]
President Muhammadu Buhari on Wednesday directed ministers in his cabinet to submit status reports on policies, programmes and projects being implemented by Ministries, Departments and Agencies (MDAs). The directive, which was given through a circular to this effect issued by the Secretary to the Government of the Federation (SGF), Boss Mustapha, also requested members of […]
The Federal Executive Council on Wednesday formally approved that the proposed plan by government on the issuance of $2.9 billion Eurobond and other securities from the international capital market should be implemented. The Minister of Finance, Zainab Ahmed, disclosed this to State House correspondents at the end of the council’s weekly meeting at the Presidential […]
The Federal Executive Council (FEC) on Wednesday approved contracts totalling about N35.8 billion for roads, bridges and power at the end of its meeting presided over by President Muhammadu Buhari in Abuja. The Minister of Power, Works and Housing, Mr. Babatunde Fashola, gave this hint to State House correspondents at the end of the Council’s […]
The Federal Executive Council yesterday approved the sum of N64.108 billion for the additional work to be done on Section I of the Lagos to the Sagamu interchange of Lagos-Ibadan expressway project. This is even as the council also that the council approved new establishment of 10 new rice mills at a cost of N10.7 […]