Finance Minister and Coordinating Minister of the Economy, Wale Edun has unveiled his economic agenda for the country.
They include fiscal measures aimed at less reliance on borrowing and pushing up revenue, job creation, blocking leakages and more judicious of financial resources by way of automation and digitization amongst others.
He is hopeful these interventions will aid the apex bank’s naira stabilisation efforts alongside other strategies to encourage more forex inflows into the economy, he is also optimistic benefits of subsidy removal will materialise with time.
He also maintained that just two billion has so far been released to states from the five billion naira palliative fund.
MD NNPC limited Mele Kyari said oil production output at the moment is 1.67m barrels per day ,with a 46m liters daily fuel consumption, since the removal of subsidy and this includes cross border leakages.
He says the recent three billion dollar deal with Afrexim bank to help stabile forex , is a forward sale and not a loan as reported and the transactions cannot collapse as speculated.
Chairman Presidential tax reform committee, Taiwo Oyedele says tax incentive reviews are imminent alongside the removal of disincentives in the country’s tax system.