At the federal executive council (FEC) held on Wednesday, the federal government approved the $500 million Eurobond from the international capital market to fund the 2016 budget.Last week, the senate approved the request of Buhari to raise additional $500 million Eurobond to fund the 2016 budget. Kemi Adeosun, minister of finance, said FEC had also […]
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The Federation Account Allocation Committee (FAAC) on Tuesday shared N429.1 billion, about N36 billion less than what the three tiers of government shared as revenue for January. And the shortfall, according to the Finance Minister, Kemi Adeosun was caused by the unrelenting sabotage of oil pipelines by Niger Delta militants and the fall in oil […]
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The mention of “Development Bank of Nigeria (DBN)” has left many with many questions on their lips, especially as to funding and accessibility. The Ministry of Finance, led by the minister, Kemi Adeosun has taken time to explain all you need to know about the bank which is expected to kick off operations in 2017. […]
Continue ReadingThe Minister of Finance, Mrs Kemi Adeosun, on Wednesday in Abuja said N420 billion was shared in October among the Federal, States and Local Governments. Adeosun told newsmen that same amount was shared in September. She said that N6.3 billion was refunded to the federal government by Nigerian National Petroleum Corporation (NNPC). The net statutory […]
Continue ReadingNigeria’s minister of finance, Kemi Adeosun, has said it is hypocritical for west and multilateral institutions to tell Nigeria not to use coal-fired power, which drove western industrialisation. Adeosun, who spoke at the International Monetary Fund (IMF) discourse on infrastructure in Africa, recalled that western powers recently blocked a coal to power project in Nigeria. […]
Continue ReadingThe Federal Government plans to reduce the income tax being payed by Small, Micro and Medium Enterprises (SMMEs) in the country to encourage more start-ups in the sector. A statement by the Federal Ministry of Finance on Thursday said the gesture was also to boost profitability of existing ones, generate new jobs and make higher […]
Continue ReadingThe finance minister, Kemi Adeosun, has said that the N500 billion new housing fund approved by the National Executive Council last week would stimulate economic activities and return the economy to the path of growth.Mrs. Adeosun, who fielded questions from some journalists in her office at the weekend, said a mass housing scheme that would […]
Continue ReadingThe Minister of Finance, Mrs Kemi Adeosun, on Tuesday in Abuja, said N510.2 billion was shared among the federal, states and local governments as revenue realised in August. She made the disclosure while addressing a news conference on the outcome of the Federation Account Allocation Committee (FAAC). The amount is higher than the N493.6 billion […]
Continue ReadingBy Reuben Abati There have been interesting arguments over Minister of Finance, Kemi Adeosun’s observation that “recession is just a word”, and NAN MD, Bayo Onanuga claiming that reports of hardship in the land is exaggerated propaganda. I think we need to break down the subject further from a layman’s perspective. Recession is a word, […]
Continue ReadingSenator Dino Melaye, representing Kogi west senatorial district, has warned President Muhammadu Buhari against failure and the shame it could bring, urging him to shake up his cabinet and dismiss three top government officials. The outspoken lawmaker says he is scared of being stoned by his constituents as a result of the alleged failure of […]
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