Performance grants: 32 states get N123.348bn

Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed said on Wednesday that she had just disbursed the second tranche of N123.348 billion to 32 states as performance-based grants under Federal Government’s States Fiscal Transparency Accountability and Sustainability (SFTAS) programme for results. The disbursement was consequent upon 2019 Annual Performance Assessment (APA) assessment carried... Continue Reading →

FG: No plan to introduce new taxes in 2021

The Federal Government said on Friday that it was not planning to introduce any new taxes in 2021, but is making efforts to reduce the tax burden on the Nigerian people in view of the current economic situation occasioned by the COVID-19 pandemic and the fall in the prices of crude oil in the international... Continue Reading →

FG Approaches China For $17bn Loans

The Federal Government on Tuesday explained why it decided to approach the China-Exim Bank for a $17bn loan request. It said other lending institutions like the World Bank and the African Development Bank were not showing much interest when Nigeria approached them during a recession. The Minister of Finance,  Zainab Ahmed,  stated this in the... Continue Reading →

Implementation of 7.5% VAT begins February 1 — Minister

The Federal Government will from February 1 begin the implementation of 7.5 percent Value Added Tax espoused by the finance law. The law, according to the government, will take effect after all the necessary administrative procedures must have been completed, especially the gazette of the Act by the Federal Ministry of Justice. The Minister of... Continue Reading →

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