finance

New Hazard Allowance Being Withheld By Finance Ministry -NARD

New Hazard Allowance Being Withheld By Finance Ministry -NARD

August 14, 2022 2:28 am

The Nigerian Association of Resident Doctors (NARD) has lampooned the Ministry of Finance for the non-payment of the increased hazard allowance which was approved by the Federal Government last year. 

The President of NARD, Dr Dare Ishaya, who spoke with our correspondent, said the money for the hazard allowance was budgeted, but the Federal Ministry of Finance had yet to release it.

Africa Daily News, New York reports that the Federal Government had in December 2021 increased the hazard allowances applicable to health workers in its healthcare facilities across the country.

The increment was contained in a circular with reference …

Nigerians React As Buhari Signs Finance Bill, Increases VAT

January 14, 2020 10:29 am
A cross-section of Nigerians has reacted to the increase in Value Added Tax (VAT) in Nigeria to 7.5%.

THISDAY reports that President Muhammadu Buhari signed the 2019 finance bill into law in Abuja on Monday.

It means that the Value Added Tax (VAT) in Nigeria is now officially 7.5 per cent from 5 per cent.

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The bill was submitted to the National Assembly alongside the budget but the bill signing is coming 27 days after the 2020 budget was signed into law on December 17.

Reactions have trailed the increase

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VAT In Nigeria Now 7.5 Percent As Buhari Signs Finance Bill

January 13, 2020 8:29 am
President Muhammadu Buhari has signed the 2019 finance bill into law in Abuja on Monday.

The import is that the Value Added Tax (VAT) in Nigeria is now officially 7.5 percent from 5 percent.

The bill was submitted to the national assembly alongside the budget but the bill signing is coming 27 days after the 2020 budget was signed into law on December 17.

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“I am pleased to announce that this morning I signed into law the Finance Bill, 2019,” a tweet on the president’s Twitter account read.

“We introduced the

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Gov. Buni Signs Into Law 2020 Finance, Appropriation Bill

December 31, 2019 7:47 am
The Yobe State Governor, Mai Mala Buni has singed into law the 2020 finance and appropriation bills of over ₦108.3 billion.

The signing follows approval made by the State Assembly after weeks of budget scrutiny.

Governor Buni said, “the 2020 Finance and Appropriation Bills passed by the House and now presented for my assent provides for a total aggregate expenditure of N108, 314, 101, 082.

“This implies that having subjected our initial proposal of N108, 414, 101, 082 to legislative scrutiny, the budget size was reduced by the House of Assembly by N100 million or by 0.102%.

“Out of the

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Olomola: Finance Bill Sets Nigeria To Attract Investments

December 18, 2019 5:50 am

Partner and Head, Deal Advisory and Tax Services, KPMG Nigeria, Mr. Ajibola Olomola, in this interview on Arise Television, provides insights on the Finance Bill 2019. Peter Uzoho presents the exerpts:

What’s is the Finance Bill all about and how is it differ from the current tax legislation?

The Finance Bill 2019 is epochal. It is significant that Nigeria is beginning to join the league of nations that moderate their economy by use of fiscal instruments such as the Bill of this nature which makes changes to try to align the micro-economy with the macro-economic direction of the federal …

The Finance Bill And Nigerian Economy

December 8, 2019 3:06 am

The Nigerian government is keen to open up new opportunities to earn more monies, and to do this, it sent a finance bill to the National Assembly. The bill is essentially a fiscal bill and it is driven by the objective of generating additional revenues for the Government to potentially partly finance the deficit in the 2020 Budget. Nosa James-Igbinadolor examines the bill

The latest World Bank report on Nigeria is blunt and bleak. The report shows that economic growth remains muted, with growth averaging 1.9 per cent in 2018 and plateauing to 2 percent in the first half of …

Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG

November 28, 2019 2:21 pm

The much-debated and anticipated new tax regime expected to fund the 2020 budget and restructure tax administration in Nigeria will take effect from the 2nd of January next year.

According to THISDAY, the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, in a panel session at the PwC Executive Session on Finance Bill and Tax Strategy, the bill would be revised yearly as the Federal Government is planning to grow the ratio of revenue to Gross Domestic Product (GDP) from 6% to 15% by 2023, with a greater percentage of revenue coming from non-oil sources.

The minister disclosed …

Finance Minister: Nigeria Has Revenue Issue Not Debt Crisis

Finance Minister: Nigeria Has Revenue Issue Not Debt Crisis

October 23, 2019 10:34 am
Minister of Finance, Zainab Ahmed, has said that contrary to speculations,  the country is not in debt crisis, but admitted that it has revenue generation problem.
Ahmed disclosed this Wednesday while speaking on the proposed 2020 budget at the National Assembly public hearing on the budget.
She said that the federal government had heard repeatedly that Nigeria was inching towards a debt crisis, but noted the federal government had also consistently said that Nigeria does not have a debt crisis as the total borrowing rate of the county was under 50 percent of the GDP.
Ahmed stated: “What we
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Finance Minister Leads Nigerian Team to IMF And World Bank

Finance Minister Leads Nigerian Team to IMF And World Bank

October 14, 2019 7:29 am

The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed is leading Nigeria’s delegation to the 2019 annual meetings of the International Monetary Fund (IMF) and World Bank billed to commence today in Washington DC, United States of America.

The week-long events, which run between October 14 and 20, will attract global players from the public and private sectors where issues ranging from economy, finance, trade, environment, climate change and other global socio-economic challenges are discussed.

The Nigerian delegation at the global event also features top government functionaries, including the Governor of the Central Bank of Nigeria (CBN), …

Nigeria to host conference on Islamic finance

Nigeria to host conference on Islamic finance

September 20, 2019 7:29 pm

Nigeria is set to host the 4th edition of the African International Conference on Islamic Finance (AICIF), a gathering of the leading financial experts, regulators and frontline voices from the global banking community.

They will converge in Nigeria’s commercial capital, Lagos, to discuss how Africa can enhance its markets, build stronger, more robust economic ecosystems and ensure wider financial inclusion.

This year’s conference is themed: Infrastructure Financing, Sustainability and the Future of African Markets and will hold on Monday, November 4 and Tuesday, November 5.

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Speaking on the conference, Ummahani …

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𝐀𝐟𝐫𝐢𝐜𝐚 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐍𝐞𝐰𝐬, 𝐍𝐞𝐰 𝐘𝐨𝐫𝐤, is a nonpartisan online news portal founded on the truth to provide you with weekly, insightful articles written with precision and current updates on current events from Africa in particular and the rest of the world in general. All of our reports undergo extensive fact-checking to ensure their veracity, and we adhere strictly to the facts, no matter whose ox is gored.

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