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The Minister of Industry, Trade and Investment, Otunba Niyi Adebayo, has reversed an earlier letter he sent to the Minister of Finance, Hajiya Zainab Ahmed, prohibiting the importation of sugar from the free trade zones into the Nigerian customs territory.
According to TheCapital.ng, the Secretary to the Government of the Federation, the Comptroller General of the Nigeria Customs Service and the Managing Director/CEO of the Nigerian Ports Authority were copied in the letter. Adebayo’s letter was predicated on a petition to him by the chairman, Dangote Industries Limited, Alhaji Aliko Dangote; and chairman, Flour Mills of Nigeria Plc, Mr. John Coumantaros
BUDGET SUPPORT
On the budget support facility, Finance Minister observed that the deductions for repayment by States are meant to resume in May. The Governors however requested for an extension considering the economic challenges in the States.
The Central Bank Governor explained the technical challenges involved should there be a further postponement of the deductions. The Vice President then directed that a meeting be held soon after today’s NEC where the issue would be properly considered and a decision reached.
The VP will chair the meeting and the Governors would be represented by Governor Kayode Fayemi, while the Finance Minister and the Central Bank Governor both of whom attended the meeting today will also participate.
NEC backs finance minister, says no money printed
The National Economic Council says the claim N60 billion was printed in March was false.
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The National Economic Council (NEC) has denied the federal government printed money to boost allocations to states in March, brushing aside explanations by the central bank governor that the bank was within its rights to do so.
The government had earlier denied a claim by the governor of Edo State, Godwin Obaseki, that it printed between N50 billion and N60 billion for the states, fuelling concerns over the government’s management of the economy at a time of rising inflation.
No money was printed to shore up March allocation ― NEC
On
–As Govs affirms Nigeria’s unity
By Johnbosco Agbakwuru
THE National Economic Council, NEC, Thursday affirmed that there was no printing of N60 billion or any other amount whatsoever to shore up allocation for the month of March as was insinuated recently by the Governor of Edo State, Mr. Godwin Obaseki.
NEC took the position after receiving presentations from the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, the Governor of Central Bank of Nigeria, CBN, and the Nigerian Governors’ Forum, NGF.
The virtual NEC was presided over by Vice President Yemi Osinbajo at the Presidential Villa, Abuja.