• About
  • Advertise
  • Contact
Friday, August 22, 2025
  • Login
Vital News
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
Vital News
No Result
View All Result
Home Economy

Subsidy Removal : FG Has Ended Borrowing – Finance Minister

Vital News by Vital News
August 28, 2023
in Economy
0
Subsidy Removal : FG Has Ended Borrowing – Finance Minister
Share on FacebookShare on Twitter

 

By Ismail Abdulaziz

The Federal Government says it has no intention to borrow from any local or foreign organisation with its removal of subsidy on petrol and exchange rate harmonisation.

The Minister of Finance and Co-ordinating Minister of the Economy, Mr Wale Edun, revealed this at the end of the inaugural Federal Executive Council meeting in Abuja on Monday.

He said that the benefit of the subsidy removal would be ploughed back into various sectors aimed at boosting government revenue and improving business environment for local and foreign investment.

RelatedStories

Ahead TICAD9 Summit, President Tinubu Arrives Japan

146 Nigerian Women Entrepreneurs To Access $50mln WTO Trade Grant

Capital Inflows Into Nigeria Up By 67.12% In Q1 2025

AfDB Lauds Gov. Ododo Over Commitment To Agriculture, Food Security, Includes Kogi Among SAPZ Beneficiaries

Edun said that with the increased revenue from subsidy removal, various palliatives had been made available to cushion its effects on a short, medium and long term bases.

He reiterated the President Bola Tinubu-led administration’s desire to bring back the economy from the wood it has found itself over time.

Similarly, the Minister of Industry, Trade and Investment, Doris Uzoka-Anite, said investment offers were already coming up in different sectors of the economy, including oil and gas, health, solid minerals and agriculture.

She said that her ministry would collaborate with relevant Ministries, Departments and Agencies of government to achieve the president’s commitment to creation of jobs for the teeming youthful population of Nigeria.

On his part, the Minister of Health, Prof. Ali Pate, said that critical sections of the health value chain would be exploited to improve the economy and create jobs for Nigerians.

He said that the president had directed them to be courageous and innovative in taking decisions that would benefit the country, adding that the president is already taking such moves.

Pate said that the president was responsive to the need to set the economy on the path of progress with his move to remove subsidy on petrol on his first day in office.

The Minister of Information and National Orientation, Alhaji Mohammed Idris, said that the president charged the cabinet members to be transparent in their dealings, especially in disseminating necessary information.

He urged the media to avail themselves the opportunity of verifying and fact checking their stories in order not to misinform the public. (NAN/vitalnewsngr.com)

Tags: borrowingfloatingremovalsubsidy
Previous Post

Police Commission Orders Four Sit Tight DIGs To Proceed On Compulsory Retirement

Next Post

Ogun Sets Up 29-Member Committee On Palliatives Distribution

Vital News

Vital News

RelatedStories

Yelewata Masacre : President Tinubu To Visit Benue State June 18
Economy

Ahead TICAD9 Summit, President Tinubu Arrives Japan

August 18, 2025
146 Nigerian Women Entrepreneurs To Access $50mln WTO Trade Grant
Business

146 Nigerian Women Entrepreneurs To Access $50mln WTO Trade Grant

August 15, 2025
Capital Inflows Into Nigeria Up By 67.12% In Q1 2025
Economy

Capital Inflows Into Nigeria Up By 67.12% In Q1 2025

August 11, 2025
AfDB Lauds Gov. Ododo Over Commitment To Agriculture, Food Security, Includes Kogi Among SAPZ Beneficiaries
Agriculture/ Water/ Mineral

AfDB Lauds Gov. Ododo Over Commitment To Agriculture, Food Security, Includes Kogi Among SAPZ Beneficiaries

August 6, 2025
Dangote Says Tinubu’s Economic Policies Working, Reviving Private Sector
Business

Dangote Says Tinubu’s Economic Policies Working, Reviving Private Sector

July 27, 2025
Next Post
Revitalizing Roads : A Pledge and Progress For Yewa North’s Connectivity by Tayo Mabeweje

Ogun Sets Up 29-Member Committee On Palliatives Distribution

Tinubu To Swear In New Ministers Monday, August  21

FG Unveils 8-Point Agenda To Revamp Economy

My Administration Augments Federal Allocations To Ogun LGs - Abiodun

Leave a Reply Cancel reply

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

Follow Us

Recommended

Stampedes : Abiodun Condoles With Makinde, Soludo, Wike

8 months ago
FG, WEMA Bank To Train Two Million Youths On Digital Skills

FG, WEMA Bank To Train Two Million Youths On Digital Skills

2 years ago
At APC North Central Stakeholders Meeting, Alia Calls For Collaboration In Fight Against Insecurity

At APC North Central Stakeholders Meeting, Alia Calls For Collaboration In Fight Against Insecurity

1 year ago
EU Restates Support For Nigeria

EU Restates Support For Nigeria

2 years ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

Topics

Abiodun Abuja APC arrest Atiku Bandits Bello Benue Buhari CBN cement Court Dangote death dies drugs Economy EFCC Election elections FG gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power refinery rescue road Security students Tinubu
No Result
View All Result

Highlights

Don’t Stay Away From Home, President Tinubu Tell Nigerians In Japan, Says Nigeria On The Rise Again

Abia Secures $750mln World Bank Support For Renewable Energy

Woman Mistaken For Kidnapper Killed By Irate Mob In Ilorin

FG Empowers Colleges Of Education To Offer NCE, Degree Programmes Without University Affiliation

EFCC Arrests Deputy Vice Chancellor, Bank MD, Two Catholic Sisters Over N1.2bln Loan Fraud

Presidency Confirms Appointment Of Rotimi Pedro As New DG Of NTA, Three Executive Directors

Trending

Appeal Court Orders Kogi To Pay Ex-Deputy Governor, Simon Achuba,  N1.07bln Salary Arrears
Judiciary

Appeal Court Orders Kogi To Pay Ex-Deputy Governor, Simon Achuba, N1.07bln Salary Arrears

by Vital News
August 22, 2025
0

The Court of Appeal sitting in Abuja has again ordered the Kogi State government to pay Simon...

First Lady’s Delegation Pays Condolence Visit to Governor Ododo Over Father’s Passing

First Lady’s Delegation Pays Condolence Visit to Governor Ododo Over Father’s Passing

August 22, 2025
KB Klub Holds Largest Blood Donation Drive, Raises 500pints Of Blood In Lagos

KB Klub Holds Largest Blood Donation Drive, Raises 500pints Of Blood In Lagos

August 22, 2025
President Tinubu Jets Out On State Visit To Saint Lucia, Brazil

Don’t Stay Away From Home, President Tinubu Tell Nigerians In Japan, Says Nigeria On The Rise Again

August 21, 2025
Work Ongoing To Re-Erect Three Towers Along Kainji-Birnin Kebbi Transmission Line – TCN

Abia Secures $750mln World Bank Support For Renewable Energy

August 21, 2025
ADVERTISEMENT
Vital News

Vital News is an online newspaper with a mission to uphold professional journalism by reporting and publishing only facts and figures-based news reports across Nigeria and beyond.

Recent News

  • Appeal Court Orders Kogi To Pay Ex-Deputy Governor, Simon Achuba, N1.07bln Salary Arrears August 22, 2025
  • First Lady’s Delegation Pays Condolence Visit to Governor Ododo Over Father’s Passing August 22, 2025
  • KB Klub Holds Largest Blood Donation Drive, Raises 500pints Of Blood In Lagos August 22, 2025

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

© 2022 Vital News - . All Rights Reserved.

No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security

© 2022 Vital News - Vital News by Vital News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In