Mrs. Zainab Ahmed Archives - Page 2 of 3

Alleged N80bn Fraud: Accountant-General suspended indefinitely

May 19, 2022May 19, 2022 Aminu Imam

The Accountant General of the Federation, Ahmed Idris, has been suspended indefinitely. Idris was suspended by the Minister of Finance, Budget and National Planning, Zainab Ahmed, yesterday. His suspension followed his indictment for fraud worth N80 billion by the Economic and Financial Crimes Commission, (EFCC). EFCC�s spokesman, Wilson Uwujaren, had confirmed Idris�s arrest on Monday. He was arrested after he failed to honour invitations by the EFCC. The anti-graft agency stated that Idris allegedly diverted funds and laundered N80 billion. In another development, the EFCC also arrested former speaker of…

‘FG�s N1.3tr electricity intervention fund didn�t produce desired result’ � Zainab Ahmed

April 6, 2022April 6, 2022 Aminu Imam

The minister of finance, budget, and planning, says the Federal Government�s N1.3 trillion Power Sector Intervention Fund had failed to produce any major results. While speaking at the World Bank Development Update, the penultimate week, the Minister of Finance, Budget and National Planning, the minister specifically mentioned that the stipend would be given to about 30 to 40 million poor Nigerians. Recall that as a part of the several electricity intervention efforts of the Federal Government, the sum of N701 billion was approved as a power guarantee fund for the…

“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…

Nigeria to sign $3.3bn loan agreement for 10 projects
? Minister

February 23, 2022February 23, 2022 Aminu Imam

�’FG building 958 bridges, road projects’ ? Fashola The Minister of Finance, Budget and National Planning, Dr. Zainab Ahmed, has said that the country is currently awaiting consensus for it to sign a $3.387 billion loan Agreement to execute 10 projects across the country. The Minister said this at a Town Hall Meeting on the achievements of the Federal Government in Infrastructure Development, organised by the Ministry of Information and Culture. She said the present administration has successfully implemented a range of infrastructure programmes that have had a positive impact…

Federal Government postpones planned fuel subsidy removal till further notice

January 25, 2022January 25, 2022 Aminu Imam

�APC commends FG The Minister of Finance, Budget and Economic Planning, Zainab Ahmed, yesterday announced that the Federal Government has postponed the planned removal of subsidy on petroleum products till further notice. Ahmed stated this at a meeting held at the National Assembly Complex, in Abuja, the Federal capital. The meeting, which was convened at the instance of the President of the Senate, Ahmad Lawan, had in attendance the Minister of State for Petroleum Resources, Timipre Sylva and the Group Managing Director of the. NNPC Ltd, Mele Kyari, among others.…

Nigeria’s Deficit spending jumps 33% to N7 trillion

January 13, 2022January 13, 2022 Aminu Imam

Nigeria�s budget deficit spending notched up N7.052 trillion in the 11 months ending November 2021 (11M, 2021), a 33% increase against N5.32 trillion in 11M, 2020, spurred by a mixture of low oil receipts, corruption, and stealing of funds. Finance Minister, Zainab Ahmed, who disclosed this at the public presentation of the 2022 Budget in Abuja, said that deficit spending rose to N7.052 trillion instead of N5.911 trillion prorate. The sum is 9.2 percent above the N6.449 trillion deficit in the 2021 Budget. Recall that last December, deficit spending had…

Just In! FG projects N10.7tr revenue target for 2022 – Minister

January 5, 2022January 5, 2022 Aminu Imam

The Federal Government has projected a revenue target of N10.7trillion for the 2022 fiscal year. The Minister of Finance, Zainab Ahmed disclosed this on Tuesday, at a briefing in Abuja. She said the figure is 32 percent higher than the N8.1trillion projected in 2021. Debt servicing is expected to gulp N3.6trillion. She further explained that the 2022 budget has a deficit of N6.3trillion and will be financed from domestic, foreign, multi-lateral loans and proceed from privatisation. A total of N2.5 trillion is expected from domestic sources and N2.5trillion from foreign…

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…

Petrol price may hit N340 in 2022, to replace fuel subsidy with N5,000 transport grant for poor citizens � Zainab Ahmed

November 24, 2021November 24, 2021 Aminu Imam

�Without subsidy removal, 35 States may be unable to pay salaries next year – el-Rufa’i �Buhari suspends inauguration of NNPC Board Finance Minister, Zainab Ahmed, has said that the Federal Government will remove fuel subsidy as from 2022. Speaking yesterday, during the launch of the World Bank’s Nigeria Development Update, she said it would instead pay N5,000 monthly to some 40 million poor Nigerians. The minister added that the final number of beneficiaries will depend on the resources available after the removal of the fuel subsidy. The Group Managing Director…

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…