finance

Finance minister: Revenue is Nigeria’s problem, not debt

The Minister of Finance, Budget and National Planning, Dr. Zainab Ahmed, says lack of adequate revenue to finance both human and capital  infrastructure should be the major worry of Nigeria, not the current debt it owes.

Ahmed made the remarks at the Public presentation and Breakdown of the Highlights of the 2022 Appropriation Bill to justify the current level of the federal government borrowing to finance the deficit of the budget.

She stated that with the federal government expected to spend N16 trillion in the proposed 2022 Budget, its expenses are minute to the combined over N100 trillion spent on

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Tax on carbonated drinks to increase in 2022, says finance minister

The Minister of Finance, Budget and National Planning, Zainab Ahmed has announced a possible increase in the taxation on carbonated drinks, which would lead to a price increase.

She said this at the Public Presentation and Breakdown of the Highlights of the 2022 Appropriation Bill on Friday in Abuja, stating that it will be part of the additions in the 2021 Finance Act which will take effect from January 2022.

She said, “To further enhance independent revenue generation, government aims to optimise the operational efficiencies and revenue generation focus of the government-owned enterprises.

“The introduction of new and further increases

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Honeywell: Battling with Increasing Finance Cost, Others

Darasimi Adebisi
Honey Well Flour Mills Plc in its result and accounts for year ended March 31, 2021 recorded a significant increase in finance costs and cost of sales amid stronger growth in revenue.

The company was faced with hike in raw and packaging material consumed, coupled with high interest on borrowing and overdraft in the period under review.

Given the increase in production activities, challenges with foreign exchange and COVID-19 induced disruptions in global trade which affected the sourcing of raw and packaging materials, cost of sales grew by 41.13 per cent to N93.97 billion in year under review

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Budget: Finance, power projects get lion’s shares of N1.16tn loans

The Ministry of Finance, Budget and National Planning will get the lion’s share, in terms of projects costs, of the N1.16tn multilateral and bilateral loans that the Federal Government is planning to get to part fund the 2022 Budget.

The Minister of Finance, Budget and National Planning, Zaynab Ahmed, had on Friday said from the N16.39tn budget that the President, Major General Muhammadu Buhari (retd.), presented to the National Assembly on Thursday, N10.13tn was projected to be generated as revenue and N6.26tn which is 3.39 per cent of Gross Domestic Product as deficit would be financed

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Dailytrust.How to finance 2022 budget without borrowing – By: Tunde Asaju.For the first time in many years, Ottawa, Canada's capital, gave me cause to smile. At the average of $1.45 per litre, the pump price of….3 hours ago

Dailytrust.How to finance 2022 budget without borrowing – By: Tunde Asaju.For the first time in many years, Ottawa, Canada’s capital, gave me cause
to smile. At the average of $1.45 per litre, the pump price of….3 hours ago… Read More

FG to borrow more to finance N6.258trn 2022 budget deficit as FEC okays N16.39 trn proposal

The Federal Government has revealed the plan to borrow more to finance the N6.258 trillion deficit in the proposed 2022 budget.

The Minister of Finance, Budget and National Planning, Hajiya Zainab Ahmed, announced this Wednesday after the Federal Executive Council (FEC) approved the 2022 Appropriation Bill for an aggregate expenditure of N16.39 trillion.

She said the government did not get enough from revenues, it would continue to borrow to fund infrastructure projects.

The minister, who said Nigeria’s revenues could barely accommodate services, added that the country’s borrowings are still within acceptable limits despite the concerns.

The minister, while reacting to

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2022 Appropriation: FG will Borrow to Finance N6.258trn Budget Deficit, Says Minister

  • FEC approves budget proposal

By Deji Elumoye

The federal government has disclosed that the N6.258 trillion budget deficit in the proposed 2022 Appropriation Bill will be financed through local and external loans.

The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, who made this known on Wednesday in a chat with newsmen at the end of the weekly virtual Federal Executive Council (FEC) meeting, presided over by President Muhammadu Buhari at the State House, Abuja also disclosed that FEC approved the proposed 2022 Budget of N16.39 trillion.

On why the country needs to borrow despite outcry from different

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We’ll borrow more to finance N6.258trn 2022 budget deficit

…Says borrowed money only 23% of GDP

…As FEC okays N16.39trn proposal

Approves $57 per barrel, 1.88 mbpd, N410.15/US$, N3.15trn oil revenue, N2.13 trn non-oil revenue

By Johnbosco Agbakwuru

DESPITE the outcry against frequent borrowing, the federal government Wednesday hinted of its plan to borrow more in order to finance the N6.258 trillion deficit in the proposed 2022 budget.

This is coming In the heels of the Federal Executive Council (FEC) approval of N16.39 trillion for the 2022 Appropriation Bill.

The Federal Government has also explained that the total money borrowed as at July 22 was 23

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City finance director quits after one week | Government

Katie Mull, the director of finance for the City of St. Joseph, quit Tuesday afternoon, said City Manager Bryan Carter.

Mull’s first day on the job was Aug. 30. Carter said she did not give a reason as to why she left the job so soon.

Mull graduated from Missouri Western State University with a Bachelor of Science degree in business management/accounting. Her previous job was in the private sector. Her salary as the city’s finance director was $127,000.

Amy Cohorst, the city’s human resources director, has been named interim finance director.

Carter said the city will post the job

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How the Taliban might finance their new Afghan government

Now that the Taliban have reportedly taken full control of Afghanistan and begun forming a government, a looming challenge awaits: How will they keep their country and economy afloat financially?

For the past 20 years, the U.S. government and other countries have financed the vast majority of the Afghan government’s non-military budget – and every cent of the fighting force that melted to the Taliban so quickly in August 2021. Now, with American aid likely out of the question and billions in central bank foreign reserves frozen, the Taliban will have to find other means to pay for

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