Posts in category: CatchUp

In recognition of her outstanding contributions to peace, progress, and development, the Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite, has been conferred with the esteemed chieftaincy title of Ada Ukwu Ndi Orlu Zone by His Imperial Majesty, Eze (Dr) Thomas Obiwuru Obiefule, the Paramount Ruler of Umudioka Ancient Kingdom, Orlu Local Government Area of Imo State, Nigeria

The presentation ceremony, which was held today in her office in Abuja, was a testament to Dr. Uzoka-Anite’s dedication to public service and her commitment to peace, progress, and development of not only Orlu Zone, Imo State, but Nigeria as a whole.

This followed the conferment undertaken by Nigeria’s Corporate Existence Commemorative Palace, Ancient Kingdom of Umudioka

His Imperial Majesty, Eze Obiefule, praised Dr. Uzoka-Anite’s numerous contributions, saying, Dr. Uzoka-Anite is one of the distinguished daughters of Orlu that we are proud of. In the interest of our people, I came personally to present this certificate to honour her for public service and support for development.

Eze (Dr) Thomas Obiwuru Obiefule is the Okairuro I Okwara Akubueze II and Paramount Ruler of Umudioka Ancient Kingdom Orlu Local
Government Area, Imo State. He is a long-serving traditional ruler and has been associated with various state and national councils of traditional rulers.

Responding, the Minister expressed her gratitude for the honour, dedicating the recognition to the Nigerian people and acknowledging the leadership of President Bola Ahmed Tinubu, under whose Renewed Hope Agenda, she continues to serve.

She pledged to uphold the dignity of the office and work towards peace, opportunity, and prosperity for the people of Orlu Zone, Imo State, and Nigeria.
I accept this title with humility and a deep sense of responsibility. By the grace of God, I will continue to uphold the dignity of this office and work for peace, opportunity, and prosperity for the people of Orlu Zone, Imo State and Nigeria as a whole, Dr Uzoka-Anite said

The title Ada Ukwu, meaning great daughter or first daughter in Igbo, is a prestigious honour reserved for women who exemplify service, integrity, and leadership in their communities. Orlu Zone comprises twelve Local Government Areas in Imo State.

Signed
Mohammed Manga FCAI
Director, Information and Public Relations
September 22, 2025

www.finance.gov.ng

The Economic Management Team, chaired by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun on Thursday met in his office in Abuja to review Nigeria’s economic performance and sectoral priorities.

The meeting welcomed further signs of stability in the economy, with inflation easing for the fifth consecutive month to 20%, GDP growth holding above 3%, and a merchandise trade surplus of ₦7.4 trillion in Q2 2025 — outcomes underpinned by a competitive exchange rate and disciplined reforms.

The session also featured the presentation of the National Livestock Growth and Advancement Strategy (NL-GAS) by the Minister of Livestock Development, Alhaji Idi Mukhtar Maiha. This two-phased, 10-year plan aims to double herd size and expand sectoral output by at least 100% by 2035 through strong public–private collaboration.

HM Edun affirmed that initiatives such as NL-GAS, aligned with Nigeria’s broader reform agenda, demonstrate the government’s commitment to unlocking investment, enhancing food security, and laying a foundation for sustainable, private-sector-led growth.

Signed
Mohammed Manga FCAI
Director, Information and Public Relations
September 20, 2025

www.finance.gov.ng

In its renewed determination to reposition the nation’s economy and attract Foreign Direct Investors, the Federal Government has expressed its willingness to strengthen its economic ties with the international community.

The Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite stated this in her keynote address titled: GCC-Nigeria Partnership – Shaping New Growth Pathways at the Money20/20 Middle East Conference in Saudi Arabia. She noted that Nigeria’s participation has provided an opportunity to showcase the country’s fintech and investment opportunities, attract foreign direct investors, and promote economic cooperation.

Dr. Uzoka-Anite said that under the leadership of President Bola Ahmed Tinubu, Nigeria is building a rules-based financial system that enables innovation while safeguarding stability. She added that our engagements in Riyadh advanced concrete partnerships across capital markets, trade, and technology

During the conference, Dr. Uzoka-Anite participated in a fireside chat on balancing innovation with financial stability and held bilateral meetings with senior Saudi officials. These meetings advanced concrete partnerships across capital markets, trade, and technology, with agreements to progress work in areas such as capital markets cooperation and trade and investment facilitation.

The outcomes of this visit underscore the commitment of both nations to deepen economic cooperation and unlock new opportunities for growth and development. With these developments, Nigeria is poised to attract significant foreign investment, leverage cutting-edge technology, and further cement its position as a key player in the global economy.

Signed
Mohammed Manga FCAI
Director, Information and Public Relations
September 19, 2025

www.finance.gov.ng

The Federal Government through the Presidential Initiative on Continuous Audit (PICA), has organized a two-day nationwide sensitization programme on the implementation of Nigeria’s Whistleblowing Policy. The programme, which took place in Lagos on September 17-18, 2025, aimed to raise public awareness and strengthen the policy’s effectiveness.

The sensitization programme brought together stakeholders from various sectors, including government officials, anti-corruption agencies, and private sector representatives. The event provided a platform for discussion, education, and creating awareness on the importance of whistleblowing in combating corruption, promoting transparency, accountability, and good governance in the management of public resources.

Government officials at the event highlighted that the current administration is working to enhance the policy, which was first approved in 2016 during the late President Muhammadu
Buhari’s Administration.

Addressing systemic challenges, the officials also acknowledged challenges that have hindered effective implementation, such as low public awareness and cultural resistance to reporting misconduct.

The event in Lagos was part of a larger, ongoing effort by the Federal Government to ensure transparency and accountability in the management of public funds.

Declaring the event open on Wednesday, the Honourable Minister of Finance and Coordinating Minister of the Economy Mr. Wale Edun stated that
the Whistleblowing Policy is designed to encourage the reporting of suspicious activities or wrongdoing related to financial crimes, mismanagement of public funds, or other illicit activities within the public or private sectors.

Represented by the Permanent Secretary Special Duties of the Federal Ministry of Finance Mr. Raymond Omenka Omachi, the Minister highlighted the programme’s objectives to include educating stakeholders on the policy’s framework and implementation guidelines, highlighting the importance of whistleblowing in combating corruption, promoting transparency, and providing insights into the procedures for reporting suspicious activities as well as the protections available to whistleblowers.

He informed that the Nation Wide Sensitization Programme commenced in Lagos, as a major commercial hub that has a consistent sound financial management system, and therefore urged all stakeholders to participate actively in enforcing compliance of the policy, while reaffirming the Government’s commitment to ensuring the protection of whistle blowers.

In his keynote address at the event, the Executive Governor of
Lagos State Mr Babajide Sanwo-Olu,
called for the review of the Whistleblowers Protection Bill to shield whistleblowers and institutionalize the policy for rebuilding public trust.

Represented by his Special Adviser on Taxation, Abdul-kabir Opeyemi Ogunbo, the Governor stressed that the State was fully committed to strengthening inter- corruption agencies to ensure strict compliance.

He encouraged residents to use the initiative to report infractions, emphasizing that it was a way to protect the financial system and the state’s integrity. Sanwo-Olu
stressed that the policy provides for the confidentiality and protection of whistleblowers against retaliation.

In their separate remarks, the Lagos State, Commissioner of Police and the Auditor General of the Federation, lauded the whistle blowing initiative of the Federal Government. They called for active participation from all stakeholders, as it is a tool of the government to fight corruption.

The event featured lecture presentations, interactive sessions with relevant stakeholders, including representatives from the Federal Inland Revenue Service (FIRS) and the Economic and Financial Crimes Commission (EFCC).

The Permanent Secretary Federal Ministry of Finance, Mrs. Lydia Shehu Jafiya reaffirmed the Ministry’s commitment to ensuring the sustainability of the initiative. She emphasized that the economic recovery already achieved through the system was enormous. The Permanent Secretary encouraged stronger synergies with concerned agencies.

Represented by the Deputy Director PICA , Mr. Oludare John, Mrs Jafiya, appreciated all stakeholders for their individual and collective support for the actualization of the policy.

Signed
Mohammed Manga FCAI
Director, Information and Public Relations
September 18, 2025

www.finance.gov.ng

The Federation Account Allocation Committee (FAAC), at its September 2025 meeting chaired by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, shared a total sum of N2.225 Trillion to the three tiers of government as Federation Allocation for the month of August 2025 from a gross total of N3.635 Trillion.

From the stated amount inclusive of Gross Statutory Revenue, Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL), and Exchange Difference, the Federal Government received N810.047 Billion, the States received N709.831 Billion, the Local Government Councils got N522.228 Billion, while the Oil Producing States received N183.012 Billion as Derivation, (13% of Mineral Revenue).

The sum of N124.839 Billion was given for the cost of collection, while N1.285 Trillion was allocated for Transfers Intervention and Refunds.

The Communique issued by the Federation Account Allocation Committee indicated that the Gross Revenue available from the Value Added Tax (VAT) for the month of August 2025, was N722.619 Billion as against N687.940 Billion distributed in the preceding month, resulting in an increase of N34.679 Billion.

From that amount, the sum of N28.905 Billion was allocated for the cost of collection and the sum of N20.811 Billion given for Transfers, Intervention and Refunds. The remaining sum of N672.903 Billion was distributed to the three of tiers of government, of which the Federal Government got N100.935 Billion, the States received N336.452 Billion and Local Government Councils got N235.516 Billion.

Accordingly, the Gross Statutory Revenue of N2.838 Trillion received for the month was lower than the sum of N3.070 Trillion received in the previous month by N231.913 Billion .

From the stated amount, the sum of N94.587 Billion was allocated for the cost of collection and a total sum of N1.265 Trillion for Transfers, Intervention and Refunds.

The remaining balance of  N1.478 Trillion was distributed as follows to the three tiers of government: Federal Government got the sum of N684.462 Billion, States received N347.168 Billion, the sum of N267.652 Billion was allocated to LGCs and N179.311 Billion was given to Derivation Revenue (13% Mineral producing States).

Also, the sum of N33.685 Billion from Electronic Money Transfer Levy (EMTL) was distributed to the three (3) tiers of government as follows: the Federal Government received N4.851 Billion, States got N16.169 Billion, Local Government Councils received N11. 318 Billion, while N1.347 Billion was allocated for Cost of Collection.

The Communique also mentioned the sum of N41.284 Billion from Exchange Difference which was distributed to the three tiers of Government as follows: Federal government got N19.799 Billion, the State received N10.042 Billion, the LGCs got N7.742 Billion, while the Oil producing States received N3.701 Billion.

Oil and Gas Royalty, Value Added Tax ( VAT) and CET Levies increased significantly, while Petroleum Profit Tax (PPT), Import Duty, Electronic Money Transfer Levy (EMTL), Companies Income Tax (CIT) and Excise Duty recorded decreases.

According to the Communique, the total revenue distributable for the current month of August 2025, was drawn from Statutory Revenue of N1.478 Trillion, Value Added Tax (VAT) of N672.903 Billion, N32.338 Billion from Electronic Money Transfer Levy (EMTL), and the sum of N41.284 Billion from Exchange Difference, bringing the total distributable amount for the month to N2.225 Trillion.

Ealier, in his opening remarks, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, commended the FAAC Committee for their diligent efforts in ensuring the effective allocation of resources to the various tiers of government.

He noted that the economic reforms embarked upon by the Federal Government are yielding positive results and that our collective efforts will continue to drive growth and development.

The Minister assured that better days are ahead and expressed optimism about the future of our economy. As we continue to work together, I urge us to prioritize prudent management of public resources, ensuring that our nation’s wealth is utilized effectively to meet the needs of our citizens, Edun emphasized

Signed
Mohammed Manga FCIA
Director, Information and Public Relations
September 17, 2025.

www.finance.gov.ng

In a pivotal moment for Nigeria’s energy sector, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun engaged in strategic discussions with the management of Nigeria LNG Limited (NLNG) in his office in Abuja today. The meeting brought together key stakeholders to discuss critical issues aimed at shaping the future of Nigeria’s gas industry, including production targets, investment climate, and ongoing reforms.

The Minister reaffirmed Nigeria’s ambition of producing 10 billion standard cubic feet of gas per day by 2030, citing recent agreements, including the Deepwater deal with TotalEnergies, as evidence of progress toward a more competitive and investor-friendly environment. The President has stabilised the economy and created new opportunities for both manufacturing and energy. As we implement comprehensive tax reforms, your input will be vital in shaping a more attractive business landscape, he said.

The Minister also assured stakeholders that reforms, including the rollout of digital trade systems, will streamline oversight, eliminate inefficiencies, and ensure fairness. We want a transparent, technology-driven environment where investors can operate with confidence, Edun stated.

Dr. Philip Mshelbila, NLNG CEO, updated the Minister on operations, highlighting stronger gas supply, improved security on the Trans-Niger pipeline, and capacity utilisation rising above 70%. On infrastructure, Dr. Mshelbila reported advances on the Bodo-Bonny Road while calling for an extension to the East-West highway under the tax credit scheme.

As Nigeria continues to push the boundaries of its energy potential, this meeting marks a critical milestone in the country’s journey towards achieving its gas production targets by 2030. With renewed focus and determination, Nigeria is poised to unlock its vast energy resources and drive economic growth in line with the Renewed Hope Agenda of the President Bola Ahmed Tinubu-led Administration.

Signed
Mohammed Manga FCAI
Director, Information and Public Relations
September 4, 2025

www.finance.gov.ng

The Federal Government  has reaffirmed its commitment to pension reforms and renewed dedication to Nigeria’s senior citizens with the launch of the Pension Transitional Arrangement Directorate (PTAD) revised Service Charter

The Charter, themed: Renewed Commitment to Service Excellence, sets clear service standards and accountability measures to deliver quicker, more reliable, and people-centred services to pensioners across the country

Unveiling the Charter in Abuja today, the Honourable Minister of State for Finance Dr Doris Uzoka-Anite stated that the Service Charter is more than a document – it is a social contract that places pensioners’ welfare and public trust at the heart of service delivery. With President Bola Ahmed Tinubu’s recent approval for a bond programme in excess of N800 billion to clear outstanding pension liabilities, we are taking decisive steps to ensure retirees are paid promptly and treated with dignity Dr. Uzoka-Anite assured.

The Minister commended PTAD’s management and staff for updating and expanding the Charter, aligning with President Bola Ahmed Tinubu’s Renewed Hope Agenda.

Together, we must build a pension system that guarantees fairness, reliability, and peace of mind for every pensioner, she emphasised, while also
reaffirming the Ministry’s commitment to supporting PTAD.

The revised Charter focuses on four key improvements: performance metrics, quality commitment, stakeholder feedback, and clarity/accessibility.

PTAD’s Executive Secretary, Mrs. Tolulope Odunaiya underscored the Charter’s importance as a covenant setting out PTAD’s obligations, service standards, and accountability framework.

Stakeholders, including PenCom, SERVICOM, and the Public Complaints Commission, praised PTAD’s efforts and encouraged robust implementation.

As the Federal Government continues to prioritize pension reforms, this revised Service Charter marks a significant step towards enhancing the lives of Nigeria’s senior citizens.

Signed
Mohammed Manga FCAI
Director, Information and Public Relations
September 3, 2025

www.finance.gov.ng

In a bid to boost economic growth and development, the Federal Government has reiterated its commitment to expanding access to finance for Micro, Small, and Medium Enterprises (MSMEs), manufacturers, and individuals, which are key drivers of economic resilience and job creation in the country.

The Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite gave the assurance today in her office in Abuja, when the Board Members of the National Credit Guarantee Company Limited (NCGC), led by its Managing Director/Chief Executive Officer, Mr. Bonaventure E. Okhaimo paid her a courtesy visit.

She praised the NCGC leadership for the rapid and professional manner in which the Company was established, aligning with President Bola Ahmed Tinubu’s Renewed Hope Agenda to strengthen Nigeria’s industrial capacity and foster inclusive growth.

The Minister stated that the success of any institution rests on the calibre of its people. I have full confidence in the leadership and management of the National Credit Guarantee Company Limited to deliver on this vital mandate, she said.

Dr Uzoka-Anite emphasized that the Ministry of Finance will continue to provide institutional support and guidance to ensure NCGC delivers on its role of sharing up to 60% of credit risk with financial institutions, which will help unlock the much-needed financing for MSMEs and manufacturers, facilitate diversification, and cushion the economy against external shocks.

Speaking earlier, the Managing Director/Chief Executive Officer of NCGC, Mr. Bonaventure Okhaimo expressed his appreciation to the Minister for her encouragement and pledged that NCGC would remain steadfast in its mission to catalyse credit access across the country, while also assuring of the organisation’s commitment to accelerating credit access across the nation. We are structured to provide assurance to lenders, thereby stimulating credit flow to productive sectors of the economy, Okhaimo said

In her remarks, the Permanent Secretary, Federal Ministry of Finance, Mrs. Lydia Shehu Jafiya commended the progress in launching NCGC and reaffirmed the Ministry’s readiness to support this institution.

We commend the progress in launching NCGC and reaffirm the Ministry’s readiness to support this institution fully. With the right structures and leadership now in place, we are confident the company will play a transformative role in de-risking lending and empowering SMEs and manufacturers.

The National Credit Guarantee Company Limited, which now reports to the Federal Ministry of Finance, is one of the newest agencies created by the Federal Government. Its establishment marks a significant step toward bridging structural financing gaps, promoting industrial advancement, and broadening financial inclusion.

Signed
Mohammed Manga FCAI
Director, Information and Public Relations
September 3, 2025

www.finance.gov.ng

The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun has reaffirmed the government’s commitment to modernising trade systems and boosting revenue as Nigeria Customs Service (NCS) performance continues to exceed expectations.

At the 62nd meeting of the NCS Board in Abuja, Edun announced that Customs generated ₦3.7 trillion in the first half of 2025, 12.5% above budget and 25% higher than the same period last year. He described the performance as commendable but emphasised the need for deeper reforms to meet the administration’s ambitious revenue goals.

Central to these reforms is the National Single Window Initiative, a digital trade platform set for full rollout in 2026. Designed to streamline import and export processes, the initiative will cut delays, reduce costs, and boost competitiveness, creating a stronger, more efficient business environment for the private sector.

The National Single Window will give Customs the speed and capacity to process trade more effectively, boosting revenue and positioning Nigeria as a more attractive hub for investment, the Minister said.

The board also confirmed governance improvements within the Service, including senior appointments and promotions, to uphold professional standards and strengthen institutional capacity.

The Honourable Minister concluded that these measures reflect President Bola Tinubu’s wider strategy: stabilising inflation and exchange rates while building a transparent, technology-driven trade ecosystem that encourages private investment and drives growth.

Signed

Mohammed Manga FCAI

Director, Information and Public Relations

In a bid to boost economic growth and development, the Federal Government has reiterated its commitment to expanding access to finance for Micro, Small, and Medium Enterprises (MSMEs), manufacturers, and individuals, which are key drivers of economic resilience and job creation in the country.

The Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite gave the assurance today in her office in Abuja,  when the Board Members of the National Credit Guarantee Company Limited (NCGC), led by its Managing Director/Chief Executive Officer, Mr. Bonaventure E. Okhaimo paid her a courtesy visit.

She praised the NCGC leadership for the rapid and professional manner in which the Company was established, aligning with President Bola Ahmed Tinubu’s Renewed Hope Agenda to strengthen Nigeria’s industrial capacity and foster inclusive growth.

The Minister stated that the success of any institution rests on the calibre of its people. I have full confidence in the leadership and management of the National Credit Guarantee Company Limited to deliver on this vital mandate, she said.

Dr Uzoka-Anite emphasized that the Ministry of Finance will continue to provide institutional support and guidance to ensure NCGC delivers on its role of sharing up to 60% of credit risk with financial institutions, which will help unlock the much-needed financing for MSMEs and manufacturers, facilitate diversification, and cushion the economy against external shocks.

Speaking earlier, the Managing Director/Chief Executive Officer of NCGC, Mr. Bonaventure Okhaimo expressed his appreciation to the Minister for her encouragement and pledged that NCGC would remain steadfast in its mission to catalyse credit access across the country, while also assuring of the organisation’s commitment to accelerating credit access across the nation. We are structured to provide assurance to lenders, thereby stimulating credit flow to productive sectors of the economy, Okhaimo said

In her remarks, the Permanent Secretary, Federal Ministry of Finance, Mrs. Lydia Shehu Jafiya commended the progress in launching NCGC and reaffirmed the Ministry’s readiness to support this institution.

We commend the progress in launching NCGC and reaffirm the Ministry’s readiness to support this institution fully. With the right structures and leadership now in place, we are confident the company will play a transformative role in de-risking lending and empowering SMEs and manufacturers.

The National Credit Guarantee Company Limited, which now reports to the Federal Ministry of Finance, is one of the newest agencies created by the Federal Government. Its establishment marks a significant step toward bridging structural financing gaps, promoting industrial advancement, and broadening financial inclusion.

Signed

Mohammed Manga FCAI

Director, Information and Public Relations