Tag: Zainab Ahmed

Covid-19: N396 bn budgeted for vaccine in 2022 Appropriation Bill Minister

Aminu Imam

The Federal Government has stated that the sum of N396 billion has been budgeted for the provision of vaccines in the 2022 Appropriation Bill. This was disclosed by Dr. Zainab Ahmed, Minister of Finance, Budget and National Planning, after the Federal Executive Council (FEC) meeting presided by Vice-President Yemi Osinbajo on Wednesday. Sometime in January, the President had based on the request by the Ministry of Health, given in principle, approval for the Ministry of Health to work with the Ministry of Finance, budget and National Planning to prepare and…

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2021 Budget: FG to borrow N5 trillion

Aminu Imam

The Federal Government yesterday disclosed its plans to borrow at least N4. 987 trillion to finance its N13.58 trillion 2021 Budget. The amount, according to Minister of Finance, Budget and National Planning, Zainab Ahmed, at the 2021 Budget breakdown webinar, is part of the N5.196 trillion budget deficit built into the Budget. This, however, is aside the planned supplementary budget to finance purchase of Covid-19 vaccines. Ahmed disclosed that the dormant accounts and unclaimed dividend to be borrowed by the government during the year would be repaid from the Special…

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At last, FG approves re-opening of our land borders

Aminu Imam

President Muhammadu Buhari has approved the recommendation of a committee for the re-opening of four land borders with immediate effect, while others will be reopened in due course. The Minister of Finance Budget and National Planning, Zainab Ahmed, made the disclosure after the 28th virtual meeting, which the President attended from Daura, Katsina. The Council meeting was presided over by Vice President Yemi Osinbajo. According to Ahmed, restriction on the importation of some commodities, like rice and other products, would however continue. The borders opened for now include Seme and…

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China approves loan for FG’s $2.6bn AKK gas pipeline project

Aminu Imam

China has approved and will disburse its 85 percent loan required to fund the $2.6bn Ajaokuta-Kaduna-Kano gas pipeline project, the Federal Government announced on Tuesday. Minister of Finance, Budget and National Planning, Zainab Ahmed, and Group Managing Director, Nigerian National Petroleum Corporation, (NNPC), Mele Kyari, announced this during the inspection of the project in Ajaokuta, Kogi State. The AKK pipeline project, flagged off in July this year, is 85 per cent funded by the Bank of China and a Chinese export and credit insurance corporation, Sinosure, while the Federal Government,…

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Nigerias land borders to be re-opened soon, says Fin. Minister

Aminu Imam

The nations land borders that have been closed since August 2019 may be reopened soon. The Minister of Finance, Budget and National Planning, Zainab Ahmed, gave this indication during an interview with State House correspondents yesterday.  Ahmed said the presidential committee set up on the matter has completed its job and has recommended the reopening of the borders. She said the committee would soon submit its report to the President Muhammadu Buhari, following which a formal pronouncement would be made on the matter. The minister however, did not disclose when the…

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There will be no increase in taxes Finance minister

Aminu Imam

  As FEC approves Finance Bill 2020 The Minister of Finance, Zainab Ahmed, has assured Nigerians that the incremental changes to Nigerias tax laws do not mean that there will be an increase in taxes.  Addressing State House correspondents yesterday, after the Council approved the Finance Bill 2020, the minister explained that the Bill will ensure improvements in tax laws while reducing some taxes for small and medium enterprises.  She further explained that the 2019 Finance bill actually reduced taxes from 30% to 20% for businesses with a turnover of between…

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Nigerias debts will hit N38.68trn in 2021 Finance Minister

Aminu Imam

Clarifies why Mambilla Power Project wasnt captured in 2021 Budget The Minister of Finance, Budget and National Planning, Zainab Ahmed, has said the total public debts of Nigeria would hit N38trn by December 2021. The Minister stated this yesterday, during her presentation to the Senate Committee on Local and Foreign Debts. According to Mrs. Ahmed, The total public debt stock comprising the External and Homes debts of the Federal and state governments and the Federal Capital Territory stood at N31.01trn (USD85.90 billion) as at June 30, 2020. It is projected,…

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Weve failed our children cries out Finance Minister

Aminu Imam

The Minister of Finance, Budget and National Planning, Zainab Ahmed, has urged parents to instill family values in their children as a way to save the country from degeneration. The minister made the call at the weekend in Kaduna, during a stakeholders engagement with 77 district heads, religious and community leaders from the 23 LGAs of Kaduna State. We are calling the attention of parents that we have failed our children, in the sense that the kind of values we used to have is no more. We need to remind…

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Why payment of subsidy on petrol was discontinued – Ahmed

Ishaku Yohanna

Says Dangote refinery may not reduce petrol price Minister of Finance, Budget and National Planning, Zainab Ahmed has revealed that Nigerias revenue dropped by about 65 percent, which had necessitated the decision of President Muhammadu Buhari to discontinue the payment of petrol subsidy. Ahmed, who spoke on NTAs Good Morning Nigeria programme on Monday which was monitored by our correspondent, noted that if the petrol subsidy returns it would lead to fuel scarcity because the government would not be able to pay marketers. What we have been doing is not…

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Reps Summon Amaechi, Zainab Ahmed, Pantami over 500 million dollar Chinese loan

Ishaku Yohanna

The House of Representatives has demanded appearances by the minister of Transportation, Rotimi Chibuike Amaechi, those of Communication and Finance, Dr. Ali Isa Pantami and Mrs. Zainab Ahmed, to provide answers on the $500 million loan to be sourced from the Export-Import Bank of China for railway lines in the country. They are also to provide details on the agreement signed between the Federal Ministry of Transport and the CCECC in respect of some railway projects in the country. The projects involved are the Abuja-Kaduna, Lagos-Ibadan, Ibadan-Kaduna and Kaduna-Kano rail…

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