Minister of Finance Archives - Page 2 of 3

“Electricity subsidy removed, fuel next to follow” � Finance Minister

March 13, 2022March 13, 2022 Aminu Imam

�Says FG delaying fuel subsidy removal because of 2023 election The Minister of Finance, Mrs. Zainab Ahmed, has revealed how the Federal Government quietly removed the subsidy on electricity tariff. Ahmed, who disclosed this at the second day of a virtual meeting of African Finance Ministers and the International Monetary Fund (IMF), on Thursday, said the government had to carefully adjust the prices incrementally at some levels. According to her, the Federal Government stood down the planned removal of fuel subsidy due to pushback from citizens and to avoid consequences…

Amidst economic hardship, Finance Minister hints at additional taxes for Nigerians in 2022

December 14, 2021December 14, 2021 Aminu Imam

The Minister of Finance, Zainab Ahmed, has disclosed that there might be an introduction of new tariffs and levies for its citizens in 2022, as according to her, “the economy was now on a recovery path”. Mrs. Ahmed made this known yesterday, while addressing �stakeholders� during a public hearing on the 2021 Finance Bill, organised by the House of Representatives Committee on Finance, in Abuja. She said that a couple of �reforms and amendments� had been recommended in the draft 2021 Finance Amendment Bill, adding that more will be introduced…

Covid-19: 109 million Nigerians to be plunged into poverty by 2022 – FG reveals

December 9, 2021December 9, 2021 Aminu Imam

The Federal Government yesterday said the total number of poor Nigerians would hit about 109 million by the end of next year as a result of the negative impact of the Covid-19 pandemic on the nation�s economy. The Minister of Finance, Budget and National Planning, Zainab Ahmed, revealed this yesterday, at the on-going National Covid-19 Summit, in Abuja. Represented by the Director-General of Budget Office, Ben Akabueze, at the event, themed �Pushing Through the Last Mile to End the Pandemic and Build Back Better�, the Minister explained that the pandemic…

2022 Budget: ‘We�ll borrow more to finance N6.258tr deficit’ � Finance Minister�

October 7, 2021October 7, 2021 Aminu Imam

The Federal Government has disclosed that the N6.258 trillion budget deficit in the proposed 2022 Appropriation Bill will be financed through local and external loans. The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, who made this known yesterday, at the end of the weekly virtual Federal Executive Council (FEC) meeting, presided over by President Muhammadu Buhari at the State House, Abuja, also disclosed that FEC approved the proposed 2022 Budget of N16.39 trillion. The Minister, was in the company of the Minister of Justice and Attorney-General of…

2023: APC has zero chance of winning with ‘featherweight’ finance minister – Analysts�

September 24, 2021September 24, 2021 Aminu Imam

Minister of Finance, Budget and National Planning, Zainab Ahmed manages the nation’s portfolio, which makes her one of the country�s most influential ministers.� Based on her performance as finance minister since her appointment as finance minister, many analysts are predicting that the next presidential election in Nigeria will be won by the ruling All Progressives Congress, (APC), based on the state of the nation’s economy. According to many observers, the 2023 elections will not be won on how well the APC has done in attracting high-profile political defections, restructuring, domestic…

Nigeria�s GDP growth stunted by insecurity � Finance Minister�

August 31, 2021August 31, 2021 Aminu Imam

Finance Minister, Zainab Ahmed, has said that Nigeria�s impressive economic growth would have been better if the country had been more secure. Mrs. Ahmed said save for the country�s spate of insecurity that has affected growth in agriculture, the gross domestic product was bound to grow higher than 5.01% recorded in the second quarter, as announced last week by the National Bureau of Statistics, (NBS). The quarterly economic growth was the strongest in years. The minister explained that insecurity and other factors slowed growth in the agriculture sector, thereby denying…

‘FG spent N2trillion on debt servicing in 6 months’ – Zainab Ahmed

August 17, 2021August 17, 2021 Aminu Imam

The Federal Government has revealed that it spent N2.02 trillion on debt servicing within the first six months of 2021. This was stated yesterday in Abuja, by the minister of finance, budget and planning, Zainab Ahmed during the 2022- 2024 2022-2024 Medium-Term Expenditure Framework/ Fiscal strategy paper (MTEF/FSP) Committee interactive session. Ahmed said the Federal Government�s retained revenue amounted to 67.3 percent of the target. Recall that last year, out of total revenue of N3.42 trillion, the federal government spent N3.34 trillion on debt servicing � implying that for every…

Amaechi accuses finance minister of sabotage for delay in $200m Cabotage� Funds disbursement to Nigerian shipowners

August 8, 2021August 8, 2021 Aminu Imam

The Minister of Transportation, Rotimi Amaechi has accused the Minister of Finance, Zainab Ahmed, of frustrating the disbursement of the fund, again dashing the hopes of indigenous shipowners who have been waiting to assess the fund for over 17 years. The CVFF, which currently stands at over $200million and is warehoused in the Treasury Single Accounts (TSA), has become an issue of controversy, as past administrations of the Nigerian Maritime Administration and Safety Agency (NIMASA) were not able to disburse it. Recall that, in March, the agency said it had…

FG plans N13.98tr budget for 2022 – Finance Minister

July 2, 2021July 2, 2021 Aminu Imam

�To spend N900bn on subsidy in 2022 The Federal Government has projected to spend N13.98 trillion in the 2022 fiscal year. The Minister of Finance Budget and National Planning, Zainab Ahmed, made this disclosure yesterday, during the presentation of the Medium Term Expenditure Framework/Fiscal Strategy Paper for 2022-2024, in Abuja. She also disclosed that the Federal Government will slash capital expenditure to N3.61 trillion in 2022, from the N4.37 trillion approved for 2021; the figure is N758 billion lower than the N4.37 trillion spent on capital expenditure this year. The…

FG to slash civil servants’ salaries, merge agencies, others – Zainab Ahmed

May 5, 2021May 5, 2021 Aminu Imam

…Says it’s to cut cost The Minister of Finance, Budget and National Planning, Zainab Ahmed, has said that President Muhammadu Buhari has directed the salaries committee to review payroll and also review the number of agencies. Ahmed disclosed this at the on-going �National Policy Dialogue on Corruption and Cost of Governance in Nigeria�, which held in Abuja yesterday. The government also said it will also remove some redundant items from the Budget, as a move to cut the cost of governance in the country. The programme was organised by the…