The Minister of Finance, Budget and Planning, Mrs. Zainab Ahmed, on Monday hinted of fiscal plans by the Federal Government, in form of tax incentives that will enable Micro, Small and Medium Enterprises (MSMES) in the country to minimize operational costs, post more profits and by implication, be able to contribute to the nation’s revenue […]
The Federal Government has assured Nigerians whose legitimate businesses are being adversely affected by the closed borders between Nigeria and the neighbouring countries that plans are ongoing to consider the re-opening of the borders. The Minister of Finance, Budget and Planning, Mrs. Zainab Ahmed, who gave the assurance on Monday during her briefings on the […]
The Senate today passed the 2020-2022 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) submitted to it by President Muhammadu Buhari last week, raising the 2020 budgetary proposal by N727 billion and the oil benchmark by $2 per barrel. The approval was sequel to the presentation and consideration of the Senate Committee on Finance […]
The Federal Account Allocation Committee (FAAC) on Thursday disclosed that the three tiers of government shared the sum of N740.880 billion in August from revenue accruals to the Federation Account during the month. A breakdown of shared revenues to the tiers of government showed that Federal Government got N301.804 billion, representing 52.68 per cent, while […]
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, on Monday hinted that the Federal Government would unveil a 30-year development plan before the end of the implementation of the ERGP in 2020 as part of the measures to achieve broad-based and sustainable national development. She explained that unlike past development plans that […]
Barely 48 hours after she misinformed the global community that the Federal Government had proposed to increase Nigeria’s Value-Added Tax (VAT) rate from 5% to 7.2%, the Minister of Finance, Budget and National Planning, Hajia Zainab Ahmed, at the weekend adjusted the rate to 7.5%. Rather than apologizing for the misleading information she gave after […]
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 […]