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minister of finance Zainab Ahmed

After 15 Years, FG Confirm Census, 2022

by Folarin Kehinde October 10, 2021

written by Folarin Kehinde

A national population and housing census, which was last held in Nigeria 15 years ago, will hold in the country next year, thanks to the N178.09 billion approved for the exercise in the 2022 Appropriation Bill.

The Minister of Finance, Budget and National Planning, Zainab Ahmed, who made the disclosure during the public presentation and breakdown of Budget 2022 in Abuja, yesterday, stated that President Muhammadu Buhari would make a proclamation on the planned 2022 headcount soon.

Ahmed explained that the recent review of the 2022-2024 Medium Term Expenditure Framework (MTEF) was motivated by a number of factors, including the need to provide the funds for the headcount.

The last population census held in 2006, puts the nation’s population at 140 million people, but was plagued by political interference, from design through to implementation.

Since then, Nigeria has not conducted a population census, relying on estimates from Worldometre, an arm of the United Nations Department of Economic and Social Affairs.

In December 2020, the National Population Commission (NPC) announced that an estimated 206 million people were living in Nigeria, an increase of eight million people in two years, against the 198 million it announced in 2018.

The finance minister also revealed an additional N100 billion in the 2022 Budget estimates to enable the Independent National Electoral Commission (INEC) prepare for the conduct of the 2023 general elections.

Giving further insight into why the MTEF was reviewed, the minister said the increase in the expenditure side was also motivated by the need to provide for additional critical expenditures, as well as the need to present a more comprehensive FGN Budget.

October 10, 2021 0 comments

Headlines

Nigerians To Start Paying Tax On Carbonated Drinks January 2022– Finance Minister

by Folarin Kehinde October 9, 2021

written by Folarin Kehinde

As part of measures to shore up Federal Government revenues, the Minister of Finance Budget and National Planning, Zainab Ahmed, has insisted that there is no going back on imposing exercise duties on carbonated drinks.

She said this will be part of the additions in the 2021 Finance Act which will take effect from January 2022.

This was part of the revelations made at the ‘Public Presentation and Breakdown of the Highlights of the 2022 Appropriation Bill.’

The debate of taxing carbonated drinks began in 2019 when Ahmed said the government was considering to implement the initiative at a World Bank/International Monetary Fund meetings in Washington DC, United States.

During her 2022 budget breakdown, Ahmed said introduction of the duties will be contained in the 2021 Finance Bill.

She said the ministry and all parties involved will finish the draft by the end of October, while the bill will be sent to the legislators for passage.

The 2020 Finance Act brought in changes that exempted minimum wage earners from paying personal income tax.

On the 2021 Finance Bill, Ahmed said, “Yesterday what was presented was the Federal Government budget along with the budget of 63 government owned enterprises, the Finance Bill work we are doing is not yet complete and will be completed within the month of October, hopefully by November we can send that to the National Assembly.

“To further enhance independent revenue generation, government aims to optimise the operational efficiencies and revenue generation focus of the government owned enterprises.

“The introduction of new and further increases in existing pro-health taxes for example exercise duties on carbonated drinks- this is work in progress but it will happen in the 2021 Finance Act.

“Government’s revenue performance and remittances will become enhanced through effective implementation of the performance Management Framework including possible sanctions should their be default on targets that are set for government owned enterprises.

“The Finance Bill 2021 will contain measures that will further advance the implementation of the Strategic Revenue Growth Initiative (SRGI).”

October 9, 2021 0 comments

Headlines

FG Plans To Slash Workers Salary; Executive, Legislative Arms To Retain Jumbo Packages

by Leading Reporters May 5, 2021

written by Leading Reporters

There are strong indications that the federal government may cut workers’ salaries as part of efforts to reduce the high cost of governance.

The hint was dropped yesterday by the minister of finance, Zainab Ahmed, when she the government was working towards reducing the high cost of governance.

She spoke at a policy dialogue on corruption and cost of governance in Nigeria which was organised by the Independent Corrupt Practices and Other Related Offences Commission in Abuja.

The minister said the President Muhammadu Buhari had asked the National Salaries Incomes and Wages Commission to review the salaries of civil servants and employees of several agencies to save cost.

She therefore charged the agencies to work towards cutting down cost because of dwindling earnings by the government.

According to her, the government plans to remove certain items from the budget to reduce the cost of governance.

She said, “We still see government expenditure increase to a terrain twice higher than our revenue. The nation’s budgets are filled every year with projects that are recycled over and over again and are also not necessary.

“Mr President has directed that the salaries committee that I chair work together with the head of service and other members of the committee to review the government payrolls in terms of cutting down on cost,’’ Ahmed said.

In his remarks, the ICPC chairman, Prof Bolaji Owasanoye (SAN) listed payroll padding and the saga of ghost workers and abuse of recruitment as areas of concern in governance cost.

May 5, 2021 0 comments