*In a bold move to drive economic growth and energy security in the country, the Federal Government has conveyed a high-level meeting with key stakeholders on Monday at the Federal Ministry of Finance Headquarters, Abuja to discuss accelerating the Presidential CNG Initiative (Pi-CNG) with the aim of providing affordable and sustainable energy solutions to Nigerians....
Category: Economy
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CAUCUS TO TACKLE TARIFF AND NON TARIFF BARRIERS TO AFRICAN TRADES FOR SUSTAINABLE GROWTH AND SHARE OF GLOBAL TRADE
The 2024 African Caucus Meeting of Governors of the International Monetary Fund (IMF) and the World Bank Group (WBG) was held in Abuja, Nigeria, from August 1–3, 2024. The meeting was organized by the Federal Ministry of Finance, under the direction of Mr. Wale Edun, the Honorable Minister of Finance and Coordinating Minister of the...
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Kwara IRS Refutes Claims of Ethnic Bias in Tax Policies
The Kwara State Internal Revenue Service (KW-IRS) has strongly denied recent allegations of discriminatory tax practices against Igbo traders, as reported by the International Centre for Investigative Reporting (ICIR). According to KW-IRS, these allegations are baseless, malicious, and aimed at sowing discord. In a statement released on Saturday in Ilorin and signed by Funmilola Oguntunbi,...
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AFRICAN CAUCUS 2024: EDUN WELCOMES GUESTS TO ADDRESSING CHALLENGES AND OPPORTUNITIES, INCLUDING TRADE FACILITATION, CINNECTIVITY, ENERGY ACCESS
The Federal Government of Nigeria extends a warm welcome to distinguished guests at the African Caucus 2024 in Abuja, led by the Honorable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, in a noteworthy show of African solidarity. This pivotal gathering brings together leaders and experts from across the continent to...
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FG CITES A PROJECTED BUDGET DEFICIT OF 4% IN THE 2024 FISCAL YEAR, SAYS ECONOMY IS STABILIZING FOR GROWTH AS FOOD PRICES IS POSITIONED TO FALL …Withdraws from borrowing mechanisms
Jeffrey Adaralegbe, Abuja According to the Federal Government, it has made great progress toward enacting economic reforms and is almost there. The government’s revenue projections for 2024 are almost exactly where they are expected to be. The federal government also declared its intention to withdraw from the borrowing mechanism. The Honourable Minister of Finance and...
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Antigraft Agency Decries $88.6billion Lost to Illicit Financial Flows Annually in Africa
The Executive Chairman of the Economic and Financial Crimes Commission, Mr. Olanipekun Olukoyede, has disclosed that a whopping $88.6billion is lost to illicit financial flows in Africa annually. He stated this in Tunis, Tunisia on Thursday, June 27, 2024 while delivering a keynote address at the Pan-African Conference on Illicit Financial Flows (IFFs) and Taxation. Speaking on the...
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FG, STATES AND LGCs SHARE N1,208.081 BILLION APRIL 2024 REVENUE
A total sum of N1,208.081 billion April 2024 Federation Account Revenue has been shared to the Federal Government, States and Local Government Councils in the country. The revenue was shared at the May 2024 meeting of the Federation Accounts Allocation Committee (FAAC), held in Abuja. A communiqué issued by the Federation Allocation Account Committee (FAAC)...
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Immigration, EFCC Parley on Fight against Corruption in Makurdi Parley on Fight against Corruption in Makurdi
The Economic and Financial Crimes Commission, EFCC, and the Nigeria Immigration Service, NIS, have brokered fresh collaboration to tackle economic and financial crimes and other acts of corruption. This pact was made in Makurdi on Tuesday, May 7, 2024 when the Acting Zonal Director, Makurdi Command of the EFCC, Anselem Ozioko paid a courtesy visit...
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FAAC SHARES N1123. 391 BILLION March 2024 REVENUE TO FG, STATES AND LGCs
The Federation Account Allocation Committee (FAAC) has shared a total sum of N1123.391 billion March 2024 Federation Account Revenue to the Federal Government, States and Local Government Councils. As contained in a communique issued by the FAAC at its April, 2024 meeting, the N1123.391. billion total distributable revenue comprised distributable statutory revenue of N311.233 billion,...
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FAAC SHARES N 1,152.756 BILLION FEBRUARY 2024 REVENUE TO FG, STATES AND LGCs
The Federation Account Allocation Committee (FAAC) has shared a total sum of N 1,152.756 billion February 2024 Federation Account Revenue to the Federal Government, States and Local Government Councils. The revenue was shared at the March 2024 meeting of the Federation Accounts Allocation Committee (FAAC) chaired by the Minister of Finance and Coordinating Minister for...