FG, STATES, LGs SHARE N429.127 BILLION AS FEBRUARY 2017 ALLOCATION
The Federal Government, States and Local Government Councils have shared a total of N429.127 billion federal revenue generated for the month of February 2017. The N429.127 billion was lower than the N465.149 shared in January by N36.022 billion. Read More»
ADEOSUN CLARIFIES PARIS CLUB REFUND
The Minister of Finance has deemed it necessary to address the issue of Paris Club Refunds and wishes to assure the public that the Federal Government has consistently complied with all extant rules and regulations in the disbursement of the Paris Club refunds to State Governments. Read More»
FG LAUNCHES ACCOUNTING SOFTWARE TO ENHANCE ACCOUNTABILITY, FISCAL AND FINANCIAL DISCIPLINE
As part of ongoing measures to improve Public Financial Management across all levels of Government, the Federal Government has developed an IPSAS Compliant accounting software suite “OneBook”, aimed at enhancing efficiency, accountability, and transparency. Read More»
FINANCE MINISTER BROKERS RESOLUTION TO NAICOM/PENCOM DISPUTE OVER ANNUITY ASSETS
The Minister of Finance, Mrs. Kemi Adeosun, has intervened and brokered a resolution to the dispute between the National Pension Commission (PenCom) and the National Insurance Commission (NAICOM). Read More»
GHOST WORKERS: FINANCE MINISTER URGES CBN TO EXTEND BVN TO MICROFINANCE BANKS
The Minister of Finance, Mrs. Kemi Adeosun, has strongly solicited the cooperation of the Central Bank of Nigeria (CBN), in extending the requirement for Bank Verification Number (BVN) to account holders in Microfinance Banks (MFBs). Read More»
FG TRACKS ASSETS HELD BY MDAS, CREATES ASSETS REGISTER
The Federal Government has launched an Asset Tracking and Management Project (ATMProject), through which for the first time, the Government would be able to locate, identify, assess and evaluate all its moveable and immoveable assets. 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 SECURES EU'S COMMITMENT ON REBUILDING OF NORTH EAST, NIGER DELTA
- Written by Administrator2
The European Union (EU) on Monday pledged its support for the ongoing efforts of the Federal Government to rebuild some parts of the North East and Niger Delta regions by earmarking 20 million Euros for the reconstruction of markets and warehouses in Borno and Delta States.
The EU Ambassador to Nigeria, Mr. Michael Arrion, who gave the pledge during a visit to the Minister of Finance, Mrs. Kemi Adeosun in her office, said the funds would be offered to the two States in the form of budget support.
“Sometime ago, we talked about budget support but we will be able to do that only at the State level, using a special instrument meant for countries emerging from war, and we can look at States in the North East and look at specific projects in terms of financial support to their budgets,” he said.
However, Mrs. Adeosun said all the financial analysis needed to facilitate support to the States had been put in place, pointing out that the Fiscal Sustainability Plan required a 21-point fiscal reform programme that enhanced transparency, accountability and efficiency.
According to the Minister, the funding arrangement would help in healing the wounds caused by insurgent activities in the North East. She said it would also give hope to the Niger Delta people who have been impacted by pipeline bombings and the attendant environmental problems in the area.
The EU Ambassador said the quest to invest in Africa was largely informed by the need to discourage migration to Europe, pointing out that several thousands of Nigerian citizens have continued to migrate to Europe.
He said, “We have specific objective for creating this instrument and it is to address the root cause of migration. We are presenting this initiative within the framework of the global response to irregular migration.
Today we have a few thousand Nigerians in Europe, and we feel we have the responsibility of attracting them to come back to Nigeria.
“By investing in Africa, we will be creating jobs. We will be mixing grants with loans. We believe the grants will have a leveraged effect,” He disclosed that the EU, has in the last two years invested over 300 Billion Euros in Africa.