• News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
MSME Africa
  • News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
No Result
View All Result
  • News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
No Result
View All Result
MSME Africa
No Result
View All Result

FG’s Economic Sustainability Plan will support MSMEs and sustain the economy

MSME Africa by MSME Africa
July 2, 2020
in Business, News
0
Nigerian Governments endorse Special Agro-industrial Processing Zones Programme

Zainab Ahmed, Nigeria's Finance Minister

Share

Nigeria’s Minister of Finance, Zainab Ahmed has stated that the economic sustainability plan of the federal government will help mitigate against the effects of the lockdown and ensure stability through the support of MSME’s, accelerating infrastructural development, deregulation of refined petroleum products, incentivizing the use of pension funds and supporting states to access external funds amongst others.

She said this while speaking at a webinar organised by the Nigeria Fiscal Policy Roundtable of the Nigerian Economic Summit Group (NESG). She was represented at the webinar by Sarah Alade, special adviser to President Muhammadu Buhari on finance and economy.

The webinar titled, ‘Nigeria’s Fiscal Sustainability: Imperatives, Impediments and Options’, brought together experts to proffer solutions on how the country’s fiscal policy can boost economic development.

Zainab Ahmed also disclosed that the COVID-19 pandemic is projected to have affected 21 million jobs in the country.

The federal government projects that the economy will contract by four percent in the best-case scenario and in the worst-case scenario contract by eight percent.

Kayode Fayemi, governor of Ekiti state and chairman of the Nigeria Governors Forum (NGF), also said improving internally generated revenue, blocking tax leakages, creating new tax sources and improved efficiency in tax collection will improve socio-economic indices and citizens will see a direct correlation between tax payments, usage, economic and infrastructural development.

In his remarks, Paulin Basinga, Nigeria’s director of the Bill & Melinda Gates Foundation, said there is a need to grow the country’s revenue base to accelerate human capital development.

“For Nigeria to accelerate human capital development, there is a need to grow Nigeria’s revenue base,” Basinga said.

“The Bill & Melinda Gates Foundation continues to partner with state and federal governments to strengthen tax administration, social contract and help in unlocking new revenue sources.”

According to Asue Ighodalo, chairman of the board of NESG, the finance bill and its creation of a tax threshold would reduce the tax burden on the financially disadvantaged, improve the economy and cushion the financial effects of taxes.

 

​

Post Views: 1
Share

Related Posts:

  • MSME Africa Unveils Top 50 Remarkable MSME Founders 2023, Awards them $25,000 in Media Credits
    MSME Africa Unveils Top 50 Remarkable MSME Founders…
  • Best Cities to live as an Entrepreneur in Nigeria
    Ultimate 2025 Guide to the Top Business Enabling…
  • Africa must prepare for the inevitability of a global food crisis - Akinwumi Adesina
    Overcoming Binding Constraints to Competitive…
  • Breaking News: President Buhari Signs 2023 Budget into Law
    Breaking News: President Buhari Signs 2023 Budget into Law
  • Top 15 Social Media Marketing Tools for Nigerian Entrepreneurs
    15 Social Media Management Tools That Will Make Life…
  • Financial Planning for Small Business Success: 6 Steps to Take Control of Your Finances
    Financial Planning for Small Business Success: 6…
Tags: Asue IghodaloBill & Melinda Gates FoundationKayode FayemiNESGNigerian Economic Summit GroupPaulin BasingaSarah AladeZainab Ahmed
Previous Post

Inspire Africa Ignite Innovation Lab Challenge 2020 for African Startups-Applications open

Next Post

First ever virtual Turkish Trade Mission to Nigeria to hold

Next Post
First ever virtual Turkish Trade Mission to Nigeria to hold

First ever virtual Turkish Trade Mission to Nigeria to hold

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

No Result
View All Result
Join MSME on Whatsapp
Subscribe To Our Newsletter
Enter your email to receive a weekly round-up of our best posts. Learn more!
icon
By subscribing, you agree with our privacy policy and our terms of service.

Recent Posts

  • OPEC+ Raises Production Quota by 411,000 Barrels per Day ,Piling Pressure on Naira
  • Nigeria’s Crude Export to US Increases After Dangote Lowered Production – Report
  • Cash in Circulation Slips as Nigerians Go Digital
  • Blue Sands STEM Lab Wins N2 Million Top Prize at MarkHack 4.0
  • NLNG Expands Train 7 Skills Programme to Boost Youth Participation

Recent Comments

  • 10 Reasons Why SMEs Should Invest in Video Marketing - MSME Africa on How to Create Viral Videos for Social Media in 2024
  • link alay4d on 5 Nigerian-based Companies Providing Accelerator Programs for Startups in 2024
  • Damilare Oladeji on Nigerian Government Agencies that Support Entrepreneurship in 2024
  • situs alay4d on 50 Best Tools to Boost Your Productivity as an Entrepreneur in 2025
  • Otabor Osayomore Blessing on Ultimate 2025 Guide to the Top Business Enabling Cities for Startup Founders and Entrepreneurs in Nigeria
  • About us
  • Advertise with Us
  • Contact Us
  • Home
  • News
  • Newsletter
  • Submit News
  • Terms of Use

© 2023 MSME Africa - All rights reserved.

No Result
View All Result
  • About us
  • Advertise with Us
  • Contact Us
  • Home
  • News
  • Newsletter
  • Submit News
  • Terms of Use

© 2023 MSME Africa - All rights reserved.