ADEOSUN HOLDS FIRST FACEBOOK LIVE SESSION: ASSURES CONTINUITY OF ‘YOUWIN’ PROGRAMME
The Minister of Finance, Mrs Kemi Adeosun, held her first-ever Facebook Live session on Tuesday, April 4, 2017. The 23-minute event, filmed at the Ministry of Finance headquarters in Abuja, and broadcast live through her Facebook page, reached an audience of more than 130,000 persons within the first hour. Read More»
MINISTER OF FINANCE CLARIFIES ACTIONS TAKEN ON ALLEGED FRAUD IN YOUWIN PROGRAMME
The attention of the management of the Federal Ministry of Finance has been drawn to a story in The Punch newspaper of Tuesday, March 28, 2017 entitled, “Probe Uncovers Massive Fraud in YouWin Programme.” Read More»
FG EXTENDS TENURE OF 2016 BUDGET CAPITAL ELEMENTS
The Accountant-General of the Federation, Alhaji Idris Ahmed has issued a Circular extending the tenure of the Capital elements of the 2016 Budget until May 5, 2017 or the passage of the 2017 Budget, whichever is the earliest, Minister of Finance, Mrs. Kemi Adeosun has announced. Federal Ministries, Departments and Agencies are hereby urged to take note of the content of the Circular.
FINANCE MINISTRY UNVEILS MANAGEMENT AND BOARD MEMBERS OF DBN
The Federal Ministry of Finance on Thursday, announced details of members of the board and management of the newly licensed Development Bank of Nigeria (DBN). The Management team is led by Mr. Tony Okpanachi, a banker and erstwhile Deputy Managing Director/Deputy CEO, Ecobank Nigeria Limited. Read More »
NIGERIA PRICED ITS US500 MILLION NOTES AT A YIELD OF 7.5 PERCENT
Announcement of pricing of US$500 million notes by the Federal Republic of Nigeria under its US$1.5 billion Global Medium Term Note programme to be consolidated and form a single series with the Federal Republic of Nigeria’s existing US$1,000,000,000 Notes due 2032. Read More »
CBN APPROVES LICENCE FOR DBN
The Central bank of Nigeria has approved the grant of a Wholesale Development Finance Institution Licence with national authorization to the Development Bank of Nigeria (DBN) Plc, the Minister of Finance, Mrs. Kemi Adeosun has confirmed. Read More »
2016 BUDGET: CAPITAL RELEASES TO MDAS REACH THE N1TRILLION MARK
Capital releases to Federal Ministries, Departments and Agencies (MDAs) for the 2016 budget, have reached a record N1 trillion, the highest ever budgetary releases in Nigeria’s annual funding for capital projects, Minister of Finance, Mrs. Kemi Adeosun has revealed. Read More »
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 »
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.