REDUCTION OF IMPORT AND EXPORT DOCUMENTATION REQUIREMENTS
Following the Federal Government's on-going efforts to improve the ease of doing business in Nigeria, His Excellency, Prof. Yemi Osinbajo, SAN, Vice President of the Federal Republic of Nigeria and Chairman, Presidential Enabling Business Environment Council (PEBEC), recently approved the reduction in the number of documents required... [PDF]
REVISED EXPORT GUIDELINES FOR NON-OIL EXPORT
Any person intending to export non-oil Products out of Nigeria shall in the first instance, process the Nigerian Export Proceeds Form (Form NXP or any other form so prescribed) through an Authorized Dealer Bank irrespective of the value and whether or not payment is involved. Read More» or download [PDF]
REVISED EXPORT GUIDELINES FOR OIL AND GAS EXPORTS
Any person intending to export oil and gas and related products out of Nigeria shall, in the first instance, process the Nigerian Export Proceeds Form (Form NXP and any other form so prescribed) through an Authorized Dealer Bank irrespective of the value and whether or not payment is involved. Read More» or download [PDF]
REVISED IMPORT GUIDELINES, PROCEDURES AND DOCUMENTATION REQUIREMENTS UNDER THE DESTINATION INSPECTION SCHEME IN NIGERIA
Pursuant to the Federal Government’s decision for a seamless transfer of the Destination Inspection Scheme for imports from the Scanning Service Providers (SSPs) to the Nigeria Customs Service (NCS) with effect from 1st December 2013, robust guidelines, procedures and documentation regime shall be enthroned to enhance the integrity of the system. Read More» or download [PDF]
NIGERIA URGES IsDB TO SUPPORT THE IMPLEMENTATION OF ERGP
The Federal Government has urged the Islamic Development Bank (IsDB) to do more for Nigeria by supporting the implementation of the country's Economic Recovery and Growth Plan (ERGP) and the delivery of signature infrastructure to meet the development aspirations of Nigerians.Read More»
NIGERIA TO SERVE AS IsDB REGIONAL HUB FOR AFRICA
Nigeria may become the regional operational hub of the 43-year old Islamic Development Bank (IsDB) in Africa, as the development finance institution is considering a proposal to expand its existing country gateway office in Abuja to serve as a key regional office. Read More»
FG BANS MDAs FROM TRANSACTING BUSINESS WITH UNREGISTERED FIRMS
The Federal Government has banned Ministries, Departments and Agencies (MDAs) from transacting business with companies and other corporate bodies that were not duly registered by the Corporate Affairs Commission. Read More»
FG: CAPITAL RELEASES EXCEED N1.2 TRILLION IN 2016
As the 2016 budget closes, Federal Ministry of Finance has released details of the N1.2 trillion capital releases made. In line with Government’s increased focus on capital expenditure, the following releases were made. Read More»
NIGERIA READY FOR BUSINESS: JAPANESE FIRMS URGED TO SET UP MANUFACTURING PLANTS IN NIGERIA
Minister of Finance, Mrs. Kemi Adeosun has told a Japanese Trade and Investment Mission to Nigeria that the country is open and ready to continue to do business with the rest of the world and urged the big Japanese companies to invest in the country by setting up manufacturing plants, instead of shipping-in finished products. Read More»
FEC APPROVES US$250m SOFT LOAN TO PROVIDE BASIC SERVICES TO 14 MILLION PEOPLE
The Federal Executive Council on Wednesday approved a US$150 million soft loan from African Development Bank (AfDB) and US$100 million from African Development Finance (ADF) for Rural Water Supply and Sanitation Initiative (RWSSI) as well as a Grant of five million Euro to finance Inclusive Basic Service Delivery and Livelihood Empowerment Integrated Programme in five states of the North East. Read More»
FG INAUGURATED COMMITTEE ON PENSION LIABILITIES
An inter-ministerial committee to review all pension liabilities of the Federal Government and come up with strategies to offset such liabilities has been inaugurated by the Minister of Finance, Mrs. Kemi Adeosun, who chairs the Committee. Read More»
APPROVAL OF THE REVISED NATIONAL TAX POLICY BY THE FEDERAL EXECUTIVE COUNCIL
OPEN DATA FOR AFRICA INITIATIVE
Link to Open Data For Africa Initiative External
FG APPROVES IMMEDIATE PAYMENT OF N407 BILLION TO OIL MARKETERS TO END FUEL SCARCITY
- Written by Administrator2
The Minister stated that the President has directed that payments be made immediately in order to bring to a quick end the lingering fuel crisis which has caused great suffering to Nigerian families and businesses.
She also said that despite dwindling revenues, the government is committed to ensuring continuous availability of fuel to Nigerians. The payments include arrears from the 2014 financial year as well as payments for the current year. It is expected that the recipients would ensure adequate supply of fuel to end the persistent fuel shortage in the nation.
With this action which shows that government is fully committed to meeting its financial obligations in respect of fuel subsidy, the Minister further implored the major oil marketers to reciprocate the action by doing all they can to bring the fuel scarcity to an end.
Details of the approved payments under the subsidy scheme will be published in the national dailies as has been the practice.
Federal Ministry of Finance