Minister: FG waives N1.3trn in import duty, VAT

Hard time beckons as FG admits revenues crashing

The Federal Government yesterday, said it has waived import duty and Value Added Tax, VAT, valued at about N1.3 trillion in addition to other incentives in nine years to 2019. The Minister of Finance, Budget and National Planning, Hajia Zainab Ahmed, disclosed this during a one day sensitization seminar on automation of the Import Duty Exemption Certificate (IDEC) processes organized by the Ministry in collaboration with the Nigeria Customs Service in Kano. The Minister, represented by the Kano State Commissioner of Finance, Shehu Na’allah, while giving the breakdown, said within…

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Nigeria will exit recession soon, says finance minister

Hard time beckons as FG admits revenues crashing

The current recession, which the Nigerian economy recently slid into, will be short-lived, the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has said. Ahmed said this on Monday at the ongoing 26th Nigerian Economic Summit organised by the Nigerian Economic Summit Group and the Federal Ministry of Finance, Budget, and National Planning. She said the country would emerge from the recession in the fourth quarter of this year or by the first quarter of 2021. Nigeria, Africa’s biggest economy, entered its second recession in five years in…

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Nigeria’s public debt to hit N38.68trn by 2021 – Finance Minister

Debt servicing gulps N1.8trn in 5 months – FG

The Minister of Finance, Budget and National Planning, Zainab Ahmed, has said Nigeria’s total public debt will hit N38 trillion by December 2021. Ahmed said this on Tuesday in her presentation to the Senate Committee on Local and Foreign Debts. The minister said, “The total public debt stock comprising the external and home debts of the federal and state governments and the Federal Capital Territory stood at N31.01 trillion ($85.90 billion) as of June 30, 2020. “It is projected, based on existing approval, to rise to N32.51trillion December 31, 2020…

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N700bn recovered through whistleblowers in four years, says FG

Hard time beckons as FG admits revenues crashing

Assets and cash worth more than N700bn have been recovered through the whistleblower policy of the Federal Government, the Minister of Finance, Budget and National Planning, Zainab Ahmed, said on Tuesday. In 2016 the Federal Government commenced the implementation of the whistleblower policy in its drive to stem corruption in Nigeria. On the side-lines of the National Conference on Whistleblower Policy in Abuja, Ahmed told journalists that since the implementation of the policy four years ago, the government had been making recoveries. said, “The whistleblower policy has been implemented since…

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