• Finance Ministry uncovers 33,000 ghost workers

    Finance Ministry uncovers 33,000 ghost workers

    Finance Minister Kemi Adeosun has said the ministry has succeeded in reducing Federal Government’s monthly wage bill from N165bn to N142bn by eliminating 33,000 ghost workers.

    Adeosun, represented by the Head of the Efficiency Unit at the Ministry, Mrs. Patience Oniha, at the 2016 Fiscal Liquidity Assessment Committee Retreat, said the ministry had discovered that it could also save money by reviewing government’s procurement processes.

    She said that through the Efficiency Unit, the ministry had succeeded in negotiating huge discounts for government […]

  • Finance minister explains 2017 budget figures

    Finance minister explains 2017 budget figures

    According to reports, the Minister of Finance, Kemi Adeosun, yesterday, said the Federal Government would put forward the sum of N6,866,335,052,740 as 2017 budget.

    She told members of the Senate Committee on Finance, led by its chairman, John Owan Enoh (PDP, Cross River Central), that government would present the figure because it spends over N3 trillion on salaries, pensions and debt services, leaving a paltry amount for capital projects.

    The committee members were on an oversight visit to her ministry.

    Adeosun said government’s […]

  • Emefiele, Adeosun allay concern over disharmony between CBN, Finance Ministry

    Emefiele, Adeosun allay concern over disharmony between CBN, Finance Ministry

    The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said there is no disharmony between the bank and Ministry of Finance.

    Speaking at a press briefing in Washington DC, United States, Emefiele said both the monetary and fiscal authorities were working hand-in-hand to get the much desired growth needed to get Nigeria out of recession, and towards much needed growth.

    In September, the Minister of Finance, Kemi Adeosun, said the fiscal authorities were in need of low interest rates, […]

  • Finance minister: this is our worst possible time

    Finance minister: this is our worst possible time

    The full picture of Nigeria’s economic gloom was laid bare yesterday.

    The National Bureau of Statistics (NBS) released its indices which showed that the economy had contracted for the second consecutive quarter.

    Finance Minister Kemi Adeosun, speaking after the Federal Executive Council (FEC) meeting in Abuja, described the country as being in its “worst possible time”, but stressed there is a silver lining.

    In its second quarter report, the NBS put the inflation rate at 17.1 per cent, It said the Gross Domestic […]