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Finance Bill

Presidency explains Finance Act 2019

The presidency had made public the breakdown of Finance Bill, 2019, which was submitted to the National Assembly by President Muhammadu Buhari alongside the 2020 Appropriation Bill, and signed into law by the president on Jan. 13, 2020.
Zainab Ahmed, the minister of finance, budget and national planning, says state and local governments share some of the responsibility to fix roads in Nigeria.

Minister: 7.5 percent VAT to take effect February 1

The Minister of Finance, Budget and National Planning, Mrs Zainab Usman, disclosed in Abuja that the implementation of Value Added Tax (VAT) new rate of 7.5 per cent will commence on February 1, 2020, after all the necessary administrative procedures have been completed, especially the gazette of the Act by the Federal Ministry of Justice.
President Muhammadu Buhari on Monday signed into law the Finance Bill 2019 (now Finance Act), which among other objectives, seeks to increase government revenue while supporting struggling small businesses in Africa’s largest economy.

New finance law will have ‘significant’ impact on businesses in Nigeria

President Muhammadu Buhari on Monday signed into law the Finance Bill 2019 (now Finance Act), which among other objectives, seeks to increase government revenue while supporting struggling small businesses in Africa’s largest economy.
Zainab Ahmed

Minister hails Buhari for signing Finance Bill

Minister of Finance, Budget and National Planning, Mrs. Zainab Shamsuna Ahmed, on Tuesday commended President Muhammadu Buhari for signing the Finance Bill into law.

NSE optimistic on bullish market as equities’ return rises to N1.35 trillion

The Nigerian Stock Exchange (NSE) has expressed optimism that the current recovery at the stock market will be sustained. Its optimism is based on the improved macroeconomic conditions and favourable global economic outlook.
President Muhammadu Buhari on Monday signed the finance bill into law.

New VAT rate takes off as President Buhari signs Finance Bill into law

The increase of the Value Added Tax (VAT) rate from 5 per cent to 7.5 per cent has taken effect following the signing into law the Finance Bill, 2019, by President Muhammadu Buhari on Monday.
President Muhammadu Buhari has enjoined Nigerian youths to be prepared for huge responsibilities as they will eventually take over the leadership of the country in the future. 4

President Buhari signs Finance Bill into law

The Finance Bill, 2019 (the Bill), presented by President Muhammadu Buhari alongside the 2020 Appropriation Bill to a joint session of the National Assembly on 8 October 2019, was passed by both the Senate and the House of Representatives.
President Muhammadu Buhari on Monday signed the finance bill into law.

President Buhari signs Finance Bill into law

President Muhammadu Buhari on Monday signed the finance bill into law.
Zainab Ahmed, the minister of finance, budget and national planning, says state and local governments share some of the responsibility to fix roads in Nigeria.

Firms with less than N25 million turnover will no longer pay company tax

The Finance Bill 2019, when signed into law, will ensure that small businesses with turnover less than N25m will be exempted from Companies Income Tax.

$30 billion loan: Senator Adeola says money necessary for development

Chairman, Senate Committee on Finance, Sen Olamilekan Adeola, on Thursday said the plan by the Federal Government to borrow about 30 billion dollars was a necessary step to catalyse development.

The legislature in defence of our economy and democracy

In the last couple of weeks, the economic and political news coming out of Nigeria has not been positive. It has been about doing things the wrong way, lack of due process, desecration of the rule of law, outright impunity for violators of rights and economic policies that have attracted negative ratings
Zainab Ahmed

More than 56 percent capital funds in 2019 budget released – minister

The federal government has so far released more than 56 per cent of the approved expenditure for capital projects in the approved 2019 budget, Minister of Finance, Budget and National Planning, Zainab Ahmed, has said.
The minister of Finance, Budget and National Planning Mrs Zainab Ahmed disclosed this on Tuesday during her maiden meeting with top officials of the two merged ministries at the headquarters of Budget and National Planning in Abuja.

Minister: Federal government has achieved 50 percent 2019 budget performance

The Federal Government has achieved 50 percent budget performance in 2019 with the release of N1.2 trillion capital expenditure.

DMO explains Nigeria’s external borrowings

According to the statement, this request is not a new one as being perceived but rather it represents those borrowings which have been submitted to the National Assembly but are yet to be approved before the expiration of the 8th Assembly.
Debt Management Office (DMO)

DMO clarifies Nigeria’s external debt

The Debt Management Office (DMO) says the public debt stock of the country is a cumulative figure of borrowings by successive governments over many years.
Senate President Ahmed Lawan

2020 Budget: Ahmad Lawan ignites hope in National Assembly and Nigeria

The ninth Senate of the Federal Republic of Nigeria made history on Thursday, December 5, with the passage of the 2020 Appropriation Bill into law, thereby fulfilling the promise of the legislature to return the budget cycle to January - December period as it used to be.
The Director General of the International Labour Organization, ILO, Mr. Guy Ryder has commended Nigeria for the labour friendly disposition of the President Muhammadu Buhari administration.

CSOs fault President Buhari’s fresh $29.96 billion loan request

Forty-two civil society organisations on Thursday raised concerns over Nigeria’s increasing debt profile, asking that efforts be made to stop the trend.

CITN: Apathy causes outcry against new tax regime

The President of Chartered Institute of Taxation of Nigeria (CITN), Dame Olajumoke Simplice, has blamed Nigerians’ outcry against the new tax regime on long period of apathy and lack of focus to make taxation the bedrock of government’s revenue mobilisation.

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Mrs Marian Onuoha, aka Mama Sure P, the candidate of the All Progressives Congress (APC) has emerged the winner of rerun election for the Isiala Mbano-Okigwe-Onuimo Federal Constituency seat conducted by the INEC on Saturday.

APC, AA win Imo rerun elections

Mrs Marian Onuoha, aka Mama Sure P, the candidate of the All Progressives Congress (APC) has emerged the winner of rerun election for the Isiala Mbano/Okigwe/Onuimo Federal Constituency seat conducted by the Independent National Electoral Commission on Saturday.
Lagos State Commissioner for Waterfront Infrastructure Development, Ahmed Kabiru Abdullahi

Lagos government arrests 14 illegal sand dredgers in Banana Island

The Lagos State Government has arrested 14 illegal sand dredgers on the shoreline of Ikoyi-Lekki axis in Banana Island during a compliance enforcement exercise.
Nigerian professional football league side Akwa United has completed the signing of Chan Eagles defender Olisa Ndah.

Akwa United sign defender Olisa Ndah from Remo Stars

Nigerian professional football league side Akwa United has completed the signing of Chan Eagles defender Olisa Ndah.
Two second-half goals from Osimaga Duke and Spencer Bassey gave Dakkada FC a comfortable 2-0 win over Jigawa Golden Stars in a Nigeria Professional Football League (NPFL) Matchday 17 game decided on Saturday.

Dakkada thrash Jigawa Golden Stars to move fourth on NPFL table

Dakkada football club scored twice in the second half to beat Jigawa Golden Stars in the matchday 17 of the Nigeria professional football league game played at the Nest of Champions in Uyo on Saturday.
The Vice Chancellor Federal University of Technology (FUT), Minna Professor Abdullahi Bala has blamed challenges in the IPPIS implementation on the failure of the federal government and handlers of the scheme.

IPPIS creating more problems than values in universities – vice-chancellor

The Vice Chancellor Federal University of Technology (FUT), Minna Professor Abdullahi Bala has blamed challenges in the IPPIS implementation on the failure of the federal government and handlers of the scheme to involve university administrators before it was launched.