• World
  • Columnist
  • Commodities
  • WORLD BUSINESS & ECONOMY
  • Executive Knowledge Series
  • Finance
  • Manufacturing
  • Markets
  • Risk & Governance
  • Small Business
  • Technology, Media & Innovation
  • Comments
  • Business AM WebTV
  • Login

Businessamlive
  • FRONTPAGE
  • FINANCE
    • AllAsset ManagementAuditBankingBondBudgetCapital MarketsC&I LeasingCurrencyDealDebt marketForexFund RaisingFundingGovernmentHedge FundsInsuranceInvestmentInvestorInvestor ServicesMergers & AcquistionsMoney marketTreasury BillsMortgagePensionsPersonal financePonziQuantitative EasingshareTaxationTSAWealth Management
      Finance

      CBN says cryptocurrency ban in interest of Nigerians

      11 hrs

      Companies-in-Action

      Zenith Bank in strong operational performance as profit rises 10.4% to N230.56bn in FY20

      11 hrs

      Companies

      United Capital posts strong numbers as earnings rise 50% to N12.87bn in 2020

      February 23, 2021

      Finance

      CIBN revives mentorship initiative for bank workers

      February 20, 2021

  • MARKETS
  • ECONOMY
    • AllAfricaAgricAirportsAmericaAsiaAustraliaBreakthroughDealEuropeForeign InvestmentsforexGlobal marketGovernanceIMFMiddle EastNECANigeriaOutlookRich listSouth AfricaSport BusinessTradeU.KWest AfricaWorld Economic forum
      Insurance Business

      Enterprise risk management surges amid pandemic, RIMS reports

      10 hrs

      WORLD BUSINESS & ECONOMY

      Hyundai to recall 82,000 electric cars over battery malfunction

      11 hrs

      Frontpage

      Global health insurance premiums fall amid pandemic, says new report

      February 24, 2021

      Frontpage

      Insurance M&A record highest growth in Africa, Middle East in 2020

      February 23, 2021

  • COMMODITIES
  • ENERGY
    • AllConferenceElectricityOil and GasPowerRenewable
      Oil and Gas

      OPL 310: LEKOIL engages Optimum Petroleum over CRSA agreement

      4 hrs

      Frontpage

      Nigeria still losing 200,000bpd crude daily as NNPC enlists army’s intervention

      11 hrs

      Frontpage

      Nigeria to sell 170MW electricity capacity to Togo from Calabar plant

      February 24, 2021

      Oil and Gas

      NCDMB extends ‘transitional’ equity to Waltersmith’s expanded refinery

      February 19, 2021

  • TECHNOLOGY
  • MANUFACTURING
  • ANALYSIS
    • Analyst Insight

      Coronation MB analysts project sharp rates rise after Nigeria recession exit

      10 hrs

      Analyst Insight

      How NITDA can further foster data protection compliance in Nigeria

      February 22, 2021

      Analyst Insight

      Do we need more start-ups in insurance?

      February 16, 2021

      Analyst Insight

      Naira, PMI’s and Inflation in focus

      February 16, 2021

Frontpage

Nigeria risks fiscal crisis without increased revenue — Ahmed

August 22, 2019464 views0 comments

Zainab Ahmed, minister of finance, has warned that the Nigerian economy could go into fiscal crisis if the country fails to increase its revenue.

Ahmed spoke at the headquarters of the ministry shortly after the inauguration of the new ministers by president Muhammadu Buhari.

She noted that the President had doubled the task of the ministry of finance by matching it with the Ministry of Budget and National Planning.

Addressing the management staff of the ministry, she said, “The President has just doubled our assignment. We got this assignment because of the quality of work that we have produced. Ministry of finance has some of the best cerebral civil servants that we have today.

Read Also:

  • IMF sees pressure on central banks in digital age as regulators strive…
  • Nestlé reports stormy revenue statistics amid covid-19 pandemic
  • Nigeria commits to boost egg, meat production  
  • Nigeria records 6% drop in vessel traffic
  • How NITDA can further foster data protection compliance in Nigeria

“That we have been re-matched with the ministry of budget and national planning is also a very weighty responsibility that has been given to us.

She said, “As you know our nation is facing a near fiscal crisis, and it is up to us to make sure that it is arrested and ensure that we don’t slip into a crisis.

“We have to increase revenues; if not, our country will slip into fiscal crisis.”

He added, “We have been growing in eight consecutive quarters but it is a growth that is still fragile. Our revenues have grown, but they are still 55 percent from what we have budgeted.

“We still have to pay salaries and other statutory obligations.

“We have to pay debts and we need to operate on a day-to-day basis, and we need to do capital projects for the sustained growth of our economy.”

Ahmed said that the President had brought her back so that she could continue to implement the Economic Recovery and Growth Plan and other initiatives.

Share on Facebook Tweet Email
Tagsfiscal crisis Nigeria Revenue Zainab Ahmed
PreviousNigerians to pay more for electricity consumption
NextAmerican banking giant, JP Morgan, partners NSE on derivatives

Leave a comment

- Cancel reply

MARKET DATA

Market Videos

Recent Posts

  • Nigeria records 6% drop in vessel traffic
  • Share illiquidity forcing Ellah Lakes’ majority owners to sell down 25%
  • Nigerian stock-fish dealers want access to foreign exchange
  • OPL 310: LEKOIL engages Optimum Petroleum over CRSA agreement
  • Coronation MB analysts project sharp rates rise after Nigeria recession exit

World

Africa

Buhari, Okonjo-Iweala congratulate Adesina over reelection as AfDB President

Europe

EU businesses to cut investments in 2020, says EIB report

America

U.S. increases cost of visa application for Nigerians

Africa

Thatcher-Loving Nigeria Candidate Plans to Overhaul Economy

Africa

AfDB scales up industrialization pace on the continent, delivers improved business access to finance, skills, energy

Frontpage posts

0

Nigeria-Morocco gas pipeline will open new opportunities for gas aspirations – NNPC GMD

Frontpage August 7, 2019

1
2

CBN to reintroduce cashless policy nationwide, says Emefiele

Frontpage March 28, 2019

3

Nigeria moves 15 points up in World Bank ease of doing business 2020 ranking

Frontpage October 25, 2019

4

Nigeria’s equities index rallies 0.34% amid bank stocks underperforming globally

Frontpage November 8, 2017

5

Faulty assumptions, proposal behind suspension of Nigeria Air

Frontpage September 24, 2018

SUPPORT

  • Photo Gallery
  • Help Centre
  • About Us
  • Accessibility

LEGAL & PRIVACY

  • Terms & Conditions
  • Privacy
  • Cookies
  • Copyright

SERVICES

  • Conferences & Events
  • Analysts Research
  • Advertising Rate
  • Ebooks

TOOLS

  • Portfolio
  • Newsletters
  • News feed
  • Currency Converter

SUBSCRIBE

Join us to get latest updates on business related news.

[mc4wp_form id="3076"]
  • ABOUT US
  • CONTACT US
  • CAREERS
  • TERMS & CONDITIONS
  • PRIVACY POLICY
Copyright 2017. All rights reserved. BusinessAMLive. A Businessnewscorp Member Company.