Five months into the year, Minister of Finance and Coordinating Minister of the economy Dr Ngozi Okonjo-Iweala; has cautioned on the 2013 budget warning that it is not implementable due to deductions made by the National Assembly. Dr Ngozi Okonjo-Iweala said the budget isn’t implementable because the chunk of monies allocated to key sectors of the economy has been slashed by the lawmakers. The Minister spok ...

The feud between the House of Representatives and the Presidency over the non-allocation to the Securities and Exchange Commission (SEC) in the 2013 budget appears to be deepening as the lawmakers have written to the President, asking that funds must not be released to the commission in any guise. The federal lawmakers demanded that no fund must be released to the regulatory agency of the Nigerian capital m ...

Investors in the Nigerian capital market should expect a revitalized stock market free of disputes and civil distress. Minister of Finance, Dr Ngozi Okonjo-Iweala said this while swearing-in a new chairman of the Investments and Securities Tribunal (IST), Dr Ngozi Chianakwalam. The Minister who inaugurated the 10-member Tribunal of the Investment and Securities Tribunal in Abuja, on Monday, declared that th ...

The Ministry of Finance has announced that investments under the Sovereign Wealth Fund (SWF) will commence in March 2013. The Ministry in a statement on Thursday maintained that the fund is making progress towards becoming fully operational as the strategy document which will guide its operations is ready. This is coming two months after the inauguration of the fund by President Goodluck Jonathan. The state ...

The Minister of Finance, Dr Ngozi Okonjo-Iweala has linked the recent kidnap of her mother to the handiwork of oil marketers who are yet to be verified for the fuel subsidy payments. Addressing a news conference in Abuja, Dr Iweala told reporters that her mother Professor Kamene Okonjo was categorically told that she was kidnapped because of her daughter’s refusal to pay oil marketers as well issues relatin ...

The Delta State governor, Emmanuel Udugahan on Monday said the Kidnap of Ngozi Okonjo-Iweala’s mother is ‘a kill joy’ to the state. Mr Uduaghan, who was speaking as a guest on Channels Television’s breakfast programme, Sunrise Daily, said the state was in a festive mood after emerging the winner of the just concluded 18th National Sport Festival tagged Eko 2012 until the news of the kidnap of the mother of ...

The Federal Government has granted a waiver of N22.6 billion to 84 stock broking firms in the country. The Minister of Finance, Dr Ngozi Okonjo Iweala who announced the plan at a news conference in Abuja said that the move became necessary following the debt hang-over in the capital market. The debt hang-over, she claimed has made the market non-vibrant in the past few years. Dr Iweala however warned that t ...

Vice President Namadi Sambo has revealed that most power plants belonging to the National Integrated Power Project (NIPP) have been completed and would be commissioned in 2013. Speaking in a special meeting on gas supply to power plants on Friday in the State House  Abuja , Architect Sambo directed that all problems that may hinder the delivery of power especially gas supply should be addressed forthwith. O ...

The federal government has established a Sinking Fund of N100 billion from which it will retire federal government bonds and to stem the rising rate of the nation's domestic debt. This is in a bid to address the growing concerns on the rise of the nation's domestic debt which currently stands at N6.35 trillion and about 15.7 per cent of the nation’s Gross Domestic Product (GDP). The Minister of Finance and ...

President Goodluck Jonathan has reaffirmed the determination of his administration to address over 17 million housing deficit in the country through equitable access to land and housing revolution. The president made the pledge at a one day retreat on the nation’s housing sector at the Presidential villa. He commended efforts made by the Minister of Housing in the formulation of the new housing policy and c ...