Finance Ministry And CBN To Reduce Gap Between Official And Unofficial Dollar Rates `
The Ministry of Finance, Budget, and National Planning, Zainab Ahmed, has announced that the ministry of finance will partner with the Central Bank of Nigeria to reduce the gap between official and unofficial dollar rates.
According to NAIRAMETRICS, Zainab Ahmed revealed this in an interview with Bloomberg.
Zainab Ahmed stated, “It is our desire to be able to reduce the gap between the unofficial market rate and the official market rate. Again, what we have to do is to improve the sources of foreign exchange earnings. Right now, the predominant source is oil and gas”. Information Guide Nigeria
“So, we do have a revenue problem. And we are working to curtail expenditure by being able to limit agencies’ expenditure to 50 per cent of their revenues”.
Read Other Top News:
- Nigeria’s Auto financing firm Launches In Kenya
- NAF Denies Paying Bandits N20m To Prevent Bombing Buhari’s Plane
- Union Bank Rewards Customers In Ongoing Promo
- Disclose Your Findings On Alleged Funds, Kogi Govt Tells EFCC
“Our debt service to overall revenue is high because we have a very large expenditure base. We have a large proportion of our budget dedicated to payroll, and Mr President had decided from the beginning of his administration that we were not going to disengage staff.
“So, you have to pay salaries, you have to pay pensions. And also, we have to fund the other arms of government, which are the judiciary and the legislature.” Jamb Result
NAIRAMETRICS reports that recently, the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, suggested that by improving foreign exchange inflows Nigeria could save up to 40% of foreign exchange imports by combining the Dangote refinery and a petrochemical plant which will be launched in June-July 2022.
Information is Power!
Don’t miss any valuable information or opportunity that can change your life, business, and family positively and permanently.
For Latest updates on News, Jobs & Business Ideas, and Opportunities.
Contents on this website may not be republished, reproduced, or redistributed either in whole or in part without due permission or acknowledgment.
Proper acknowledgment includes, but not limited to (a) LINK BACK TO THE ARTICLE in the case of re-publication on online media, (b) Proper referencing in the case of usage in research, magazine, brochure, or academic purposes,.
All contents are protected by the Digital Millennium Copyright Act 1996 (DMCA).
The images, except where otherwise indicated, are taken directly from the web, if some images were inserted by mistake violating the copyright, please contact the administrator for immediate removal.
We publish all content with good intentions. If you own this content & believe your copyright was violated or infringed, please contact us at [email@example.com] for immediate removal.
🤑 Start Making Money from home today!
👍Advertise your business here!
With over 1M unique users per month across all channels, we have a large audience for you to showcase your products and services. Simply get in touch via 👉 marketing@Infoguidenigeria.com.
🤑 Make Money now!
👉 Make money writing for us. Apply for Freelance writing jobs in Nigeria.
👉 Make Money as InfoGuideNigeria Advertising Agents, read more here