Tag: Zainab Ahmed

The Federal Government has revealed its plan for a budget of 19.76 trillion to be spent from 2023 as disclosed by the Minister of Finance. Zainab Ahmed, the Minister of Finance, Budget, and National Planning, made the revelation in Abuja on Monday. See Also: 2023: INEC Budgets N239bn For Poll Materials, Presidential Run-Off The Minister briefed the House of Representatives Committee on Finance concerning the 2023-2025 Medium Term Expenditure Framework. She said the government was protruding revenue of N8.46 trillion for 2023 as N1.9 trillion is expected from oil-related sources while 6.56 trillion would be generated from non-oil sources. Ahmed noted the budget was based on the exchange rate of N435.57 per dollar and 70 dollars per barrel of crude oil. The oil product...

The Federal Government has debunked claims on social media that it plans to increase the Value Added Tax (VAT) and other taxes in its proposed Finance Bill. Minister of Finance, Zainab Ahmed, who issued the disclaimer while defending the Ministry’s budget before the Senate Committee on Finance in Abuja, said the report of an imminent increase in VAT and other taxes in the proposed Finance Bill to be presented to the National Assembly was false. Ahmed said: “There will be no increase in VAT or any form of taxes because we see 2021 as a year of recovery – not only for government but businesses as well.” Earlier, the Account General of the Federation, Ahmed Idris, who was present at the session, complained about poor budgetary allocation to his office. Idris said: “We have 37 offi...

Tag: Zainab Ahmed

Federal Government Proposes to Spend N19.76 trillion in 2023

No Plan to Increase VAT – FG