NewsN6.08trn Budget Will Stimulate, Reflate Economy - Minister

N6.08trn Budget Will Stimulate, Reflate Economy – Minister

aiteo

BEVERLY HILLS, February 04, (THEWILL) – Minister of state for budget and national planning, Zainab Ahmed, has said the N6.08 trillion budget proposal when passed by the National Assembly will stimulate and reflate the nation’s economy and ease the cost of doing business in Nigeria.

Ahmed, who also expressed confidence that Nigeria, under the present administration, would be a safe haven for foreign investors to exploit and enjoy profitably, promised that the country’s economy would not suffer oil price shocks as efforts were being put in place to prevent leakages in the system in order to boost investor’s confidence.

Speaking when a delegation of foreign investors led by Shamsuddeen Usman, a former national planning minister visited her ministry on Thursday, Zainab said: “Our N6.08 trillion budget is designed to stimulate and reflate our economy. We are making conscious efforts at reducing barriers of doing business in Nigeria. Our government is heavily fighting corruption and insecurity challenges is almost successfully tackled.”

Glo

Responding to the observation raised on the unrealistic non-oil revenue projections in the 2016 budget due to concerns that Nigerians do not like paying taxes, the minister said: “Since the bulk of revenue we require to run the budget will be from non-oil sector. We have gaps in the area of tax collection, but our revenue collecting agencies have a revenue target. There are efforts to register large number of Nigerians, especially the informal businesses not registered into our tax base. Efforts will also be put to prevent leakages.”

In his remarks on behalf of the group, Usman commended the closer link between planning and budget, which is now the case in the ministry as well as praised the ministry’s effort to update the Vision 20:2020 and also reactivating of the based management performance.

Members of the delegation includes business interests from United States, United Kingdom, Middle East, China, France, South Africa, etc, under the auspices of Renaissance Capital Investments. They held discussions on business prospects in Nigeria.

Story by David Oputah

About the Author

Homepage | Recent Posts

More like this
Related

Reps Query NCAT Over Sale Of Helicopters, Summons Ministers, Rectors

March 28, (THEWILL)- The House of Representatives, on Thursday,...

Gunmen Attack Police Station In Anambra

March 28, (THEWILL)- Gunmen, numbering over 30, on Thursday,...

Bayelsa Journalists Call On Gov Douye Diri To Appoint Easterday As Commissioner

March 28, (THEWILL) - As Bayelsa State Governor,...