The federal government says non-resident companies (NRC) are mandated to remit 6% of turnover from digital services provided to Nigerian customers. An NRC is a company not registered or incorporated in Nigeria but makes profits or income from Nigeria. They include Amazon, AliExpress, Twitter, Zoom Inc. and others. Zainab Ahmed, minister of finance, budget and national…
Zainab Ahmed, minister of finance, budget and national planning, says the federal government has no plan to lay off workers in the federal public service. Speaking on NTA’s ‘Good Morning Nigeria’ programme on Thursday, the minister stated that President Muhammadu Buhari had repeatedly said that no worker would be sacked. Ahmed explained that FG needs…
Zainab Ahmed, minister of finance, budget and national planning, says the government can no longer sustain petrol subsidy payments which currently stand at about N250 billion monthly. Briefing state house correspondents after the federal executive council (FEC) meeting presided over by President Muhammadu Buhari on Wednesday, Ahmed said the payments were no longer sustainable. The…
Zainab Ahmed, minister of finance, budget and national planning, says Nigeria needs significant financial sector reforms for sustained growth and penetration of Islamic finance in delivering overall economic growth. Ahmed said this on Tuesday at the 5th African International Conference on Islamic Finance titled, “Infrastructure financing, sustainability and the future of African market 2.0” in…
Zainab Ahmed, minister of finance, budget and national planning, says the fiscal authority ministry is working with the Central Bank of Nigeria (CBN) to close the gap between the official and unofficial exchange rates. The national currency is changing for N411/$ at the official segment of the market and N570/$ at the parallel market. Many…
The Federal Government has revealed plans to fund a budget deficit of ₦5.62 trillion with extra loans. The Minister of Finance, Budget and National Planning, Zainab Ahmed, disclosed his while speaking at a media briefing after the Federal Executive Council meeting on Wednesday. Ahmed explained that the budget deficit projection for 2022 which is ₦…
