By Emma Ujah, Abuja Bureau Chief
The federal government borrowed about $5.9 billion in 2020, to tackle the COVID-19 pandemic and implement its budget. The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, revealed this yesterday. A statement issued by her Special Adviser, Media and Communications, Mr. Yunusa Abdullahi, yesterday, indicated that the minister told the Collaborative Africa Budget Reform Initiative (CABRI) General Assembly during a webinar, that the federal government had to move quickly to save the economy.
Speaking on Nigeria’s fiscal response – short term interventions and impact on public finances, as an immediate fiscal response, Mrs. Ahmed said: “We did the following: Procured a $3.4 billion loan from the International Monetary Fund (IMF) and about $2.5 billion in local currency from the domestic capital market to support the 2020 budget implementation), among others.”
Why we can’t really raise taxes in South Africa any more: deputy finance minister
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It is no secret that South Africa has serious economic challenges, and chief among these is that the government is struggling to stabilise public debt, says deputy finance minister David Masondo.
Speaking at an event on Thursday (6 May), Masondo said that this problem emerged before the Covid-19 pandemic, and has grown from the structural gap between tax revenues and the government’s spending commitments.
“One of the strategies government tried to close the gap between spending and revenue, was to try to increase taxes, which even included raising VAT.
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The Senate, on Tuesday, resolved to meet with President Muhammadu Buhari to discuss the security situation in the country occasioned by insurgency, banditry and kidnapping.
The resolution was on the heels of a motion by Senator representing Niger East, Sani Musa.
Senator Musa while presenting his motion recalled the activities of bandits and Boko Haram terrorists in Shiroro, Munya and Rafi Local Government Areas of Niger State which he noted has taken a dangerous dimension.
He noted that almost seven years now his senatorial district has come under constant and sustained multiple deadly attacks by heartless, venomous and hydra-headed Boko Haram terrorists who are always heavily armed with assorted sophisticated and dangerous weapons unleashing their horror on our innocent populace.
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The Senate, on Tuesday, resolved to meet with President Muhammadu Buhari to discuss the security situation in the country occasioned by insurgency, banditry and kidnapping.
The resolution was on the heels of a motion by Senator representing Niger East, Sani Musa.
Senator Musa while presenting his motion recalled the activities of bandits and Boko Haram terrorists in Shiroro, Munya and Rafi Local Government Areas of Niger State which he noted has taken a dangerous dimension.
He noted that almost seven years now his senatorial district has come under constant and sustained multiple deadly attacks by heartless, venomous and hydra-headed Boko Haram terrorists who are always heavily armed with assorted sophisticated and dangerous weapons unleashing their horror on our innocent populace.