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Overview and Strategic Implementation Plan of Nigeria 2016 Budget, By Budget Minister, Udo Udoma

BUDGET BREAKDOWN 0A&B. R-L; Minister of Budget and National Planning, Senator Udoma Udo Udoma presenting the 2016 budget breakdown at the State House in Abuja. PHOTO; SUNDAY AGHAEZE. MAY 12 2016.

An address by SENATOR UDOMA UDO UDOMA, Honourable Minister of Budget and National Planning, 12TH MAY 2016  PROTOCOLS It is my pleasure to welcome you all to this presentation on the 2016 Federal Government Budget – the first full year Budget of this administration which was recently signed into law by the President. My profound appreciation […]

IMF Global Economy Downward Forecast Confirms Nigeria As Worst Victim


Again, the International Monetary Fund (IMF) has reviewed its forecasts for the world economy, with Nigeria considered mostly affected. The agency’s latest World Economic outlook predicts global growth of 3.2 per cent this year and 3.5 per cent in 2017. While launching the report, IMF’s chief Economist, Maurice Obstfeld, described the pace of growth as […]

Adeosun: Nigeria Will Pump N350Bn into the Economy this Quarter


*Urges states to begin process of robust revenue generation The Minister of Finance, Mrs. Kemi Adeosun has disclosed that the Federal Government of Nigeria, as a sign of its commitment to stimulate the economy, will in the next one quarter pump N350 billion into the system in form of capital spending. Explaining that the Federal […]

DMO Facilitates Bailout for 23 States, Helps to Restructure N575 Billion Debts


BALTIMORE, MD (AFRICAN EXAMINER) – The Debt Management Office (DMO) has helped to facilitate bailout for 23 states of the federation by working out an arrangement under which their domestic debts were restructured for repayment over a much longer period. Director General of DMO, Dr. Abraham Nwankwo, disclosed this on Friday while speaking at a […]

18 States Get Bailout Fund As Excess Crude Account Hits  $2.3 Billion

Godwin Emeifele

By Ayodele Afolabi, Abuja BALTIMORE, MD (AFRICAN EXAMINER) – A total of 18 states of the federation have so far been able to draw from the bailout fund arranged by the federal government. The Central Bank Governor (CBN), Mr. Godwin Emefiele, disclosed this on Thursday while briefing the National Economic Council (NEC). He said that […]

FIRS To Begin Audit Of Companies For Tax Compliance


By Ganiyu Nasirudeen – The Federal Inland Revenue Service (FIRS) has indicated interest to begin a special audit of companies operating in Nigeria. In a statement by FIRS Director of Communications and Servicom, Emmanuel Obeta, the agency clarified that decision to carry out the exercise was reached after a meeting between its Acting Executive Chairman, […]

FIRS Partners With ICAN, Tax Consultants To Increase Revenue Collection

Mr. Tunde Fowler

Ayodele Afolabi, Abuja – The newly appointed Acting Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, has embarked on a landmark collaboration with Audit Firms, Institute of Chartered Accountants, Tax Consultants and other professional Service providers in order to ensure increase in revenue collection. In the meeting held in Abuja recently, Fowler pointed […]

Nigeria Loses N585billion To Waivers on Rice, Others –Senate


Ayodele Afolabi, Abuja – Senators revealed on Thursday that a whopping sum of N585 billion was lost by the federal government of Nigeria from 2011 to 2014 to indiscriminate waivers granted on importation of rice and other agricultural products. This shocking revelation was made on the floor of the senate when a motion on Indiscriminate […]

FG, States, LG Share N675.7 billion November Allocation

Minister of Finance Dr Okonjo Iweala

Muyiwa Bamidele, Abuja The Federation Accounts Allocation Committee has shared a total of N675.7 billion as statutory revenue allocation for the month of November. The minister of state for finance and Chairman of FAAC, Yerima Ngama said total revenue available for distribution among the three tiers of government, including the value added tax, VAT, collection of […]

Tax Evasion: Imo Govt Seals Up Banks In Owerri, As Customers Become Stranded

Imo state governor Rochas Okorocha

IGNATIUS OKPARA, Enugu For failing to pay their various forms of taxes and approved levies, the  Imo State government Thursday sealed up bank premises found wanting  in Owerri, the Imo State capital, leading to the total paralysing of commercial and social activities in the area.   However, the Governor Rochas Okorocha led government’s action compelled […]

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