WALE EDUN

The federal government plans to provide subsidy to developers and operators of solar mini-grids in unserved and underserved areas in the country.

The Federal Government plans to introduce an emergency economic bill to boosts its revenue from the non-oil sector in Nigeria.

The National Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has formally approached the Minister of Finance and Coordinating Minister of the Economy, Olawale Edun, with a request for the urgent disclosure of the 2024 government fiscal policy. This move made in a letter was signed by the National President of NACCIMA, Dele Kelvin Oye underscores the critical need for a stable economic framework to guide investment and business decisions in Nigeria.The National Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has formally approached the Minister of Finance and Coordinating Minister of the Economy, Olawale Edun, with a request for the urgent disclosure of the 2024 government fiscal policy. This move made in a letter was signed by the National President of NACCIMA, Dele Kelvin Oye underscores the critical need for a stable economic framework to guide investment and business decisions in Nigeria.

The Federal Government has allocated approximately N4.83 trillion from the proceeds of Nigerian Treasury Bills (NTBs) and Bonds issued in 2024 to settle the Ways and Means Advances from the Central Bank of Nigeria (CBN).

The federal government plans to begin the issuance of domestic bonds denominated in foreign currency starting from the second quarter of this year according to Minister of Finance Wale Edun reported by Reuters.

President Bola Tinubu has established an Economic Management Team Emergency Taskforce (EET), tasked with creating and executing a unified emergency economic strategy.

The Minister of Finance and the Coordinating Minister of the Economy, Wale Edun, has said that Nigeria has ratified a preliminary approval by the Federal Executive Council (FEC) to join the European Bank for Reconstruction and Development (EBRD).

Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, announced that the Japanese International Cooperation Agency is allocating ¥ 15 billion (approximately $99.1 million) to enhance food security in Nigeria by supporting its agricultural sector. 

The Nigeria Customs Service (NCS) has suspended the 25% penalty that had previously been imposed in addition to import duty on improperly imported vehicles.

The Nigerian Customs Service (NCS) has declared a three-month period for the regularization of import duties for certain vehicle categories improperly imported into the country. 

The Finance Minister and Coordinating Minister of the Economy, Wale Edun, has stated that approximately only 5% of people in Nigeria have more than N500,000 in their bank accounts.

The Federal Government has revamped its cash transfer programme to combat fraud, with immediate implementation of direct payments.