Fidelity bank banner UBA banner
FG to close 2017 budget with N1.5trn excess capital spending

By News Express on 14/05/2018

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 484

•Finance Minister, Kemi Adeosun
•Finance Minister, Kemi Adeosun

The Minister of Finance, Mrs Kemi Adeosun, says the Federal Government will be closing the 2017 budget with a capital spending in excess of N1.5 trillion.

Mrs Adeosun. who revealed this development on Sunday in a series of tweets on her Twitter handle, said the figure is higher than what the government achieved in the 2016 budget.

According to her, the Federal Government is looking forward to the passage of the 2018 budget by National Assembly.

The minister disclosed further that more than five million new taxpayers have been added to the nation’s tax base in the last two years.

She commended the Federal Inland Revenue Service (FIRS) for going after tax defaulters, stressing the need for the nation to diversify its revenue base.

Adeosun also thanked the tax authorities at the state level for doing what she described as “a great deal of work” on expanding the tax base and enforcement of tax payment.

She was delighted that the debt management strategy of President Muhammadu Buhari’s administration, which focuses on bringing down borrowing costs, is working.

The minister said that while the government was borrowing at an average cost of about 18 per cent in 2017, the cost has now reduced to 13 per cent this year.

She noted that the government would not relent in its resolve to continue to work very hard on the debt service cost. (Channels TV report)

Source News Express

Posted 14/05/2018 12:43:20 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
Kidnap kingpin Don Wani’s younger brother ‘Obata Osu’...

17,000 displaced children reportedly abandoned in Plateau

Nigeria closes 5 foreign missions

Anti-democratic forces back at work in Anambra —Intersociety...

Call your youths to order, Obuah warns Hausa...

PDP Presidential Primary: Jonathan rates Turaki high

Emergency Rule: Should Jonathan have removed the Governors...

Arms Scandal: Dasuki fights back, dares Presidency

No mass defection of our members to APC...

MY LIFE IN DANGER IF . . ....

Obasanjo calls for merger of MDAs to check...

Police Service Commission bans promotion of policemen without...

 

Latest News BREAKING NEWS: 24-hour curfew imposed on Kaduna community 2019: Yoruba youths set agenda for Atiku Tiv group files N550bn suit against Buhari, Miyetti Allah, others Obasanjo/Atiku: Catholic Secretariat clears Fr. Kukah •Accuses Buhari Media Organisation of mischief Obi dismisses allegation of ethnic bias in Onitsha Bridge Head clean-up •Denies comments on first class travel, foreign medical trips Okowa calls for abolition of death penalty, advocates prison reforms 2 die as political thugs clash in Lagos No plot to assassinate Fayose in custody — EFCC NHIS Executive Secretary bags indefinite suspension Atiku, Obasanjo and the road ahead Atiku denies owning online grant scheme Imo APC guber primary: Appeal panel upholds Nwosu’s election

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (407,376 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (382,738 views) Shameless Genevieve Nnaji exposes breasts in public (315,094 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (257,553 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (237,682 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (224,498 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (204,276 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (185,747 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (170,412 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (166,000 views) Lagos plane crash: Journalist releases victims’ names (161,639 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (149,411 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (67) Business & Economy (3,687) Business Verdict (52) Columnists (948) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (559) Features (659) Global Business Monitor (304) International (2,541) Interview (165) Live Commentary (28) Love Matters (145) News (39,717) Opinion (1,124) Pidgin (13) Politics (7,282) Religion (881) Sports (1,733) Stock Watch (35) AMA & Al Jazeera Global Update

 

NLNG Prize for Literature 2018

Zenith Zero Balance

CBN banner

Firstmobile banner

 

 

 

NEWS EXPRESS TV

LIBYA vs NIGERIA 2-3 Goals Highlights

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement