Value Added Tax (VAT)<\/a> reforms in the Finance Act 2020 (maintaining the increase in VAT rate to 7.5 per cent); customs administration endowment, tax incentives and exemptions; increase remittances and recovery of unremitted revenues from GOEs; increase revenues from cross-border business transactions, unlock value from Federal Government assets that are lying idle or under-utilised; incentivise the use of up to N2.0 trillion of pension funds for roads and housing developments,\u201d he said.<\/p>\n\n\n\nNigeria\u2019s pension fund asset was N10.6 trillion in April.<\/p>\n\n\n\n
Africa\u2019s biggest oil producer is facing its most severe fiscal crisis in decades following a record crash in the prices of oil, which provides 70 per cent of government revenue.<\/p>\n\n\n\n
And now plans to borrow $2.5 billion from the World Bank, $500 million from the African Development Bank and $500 million from African Export-Import Bank.<\/p>\n\n\n\n
\u201cAdditionally, we are also seeking for moratorium from official partners on bilateral and multilateral debt and arrangements to secure commercial debt relief\u201d the minister said.<\/p>\n\n\n\n
Agba declared that the committee had a duty to execute all arrangements for the smooth-running of the summit timed to hold in October.<\/p>\n\n\n\n
It would also devise a blueprint for funding the operations of the JPC, prepare the Main Report for the summit and galvanise public and private sectors\u2019 players from across all government levels and beyond for the economic talks.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Nigerian government will consider the possibility of committing N2 trillion of the nation\u2019s N10.6 trillion pension fund asset for roads and housing development as part of measures to avert depression in an economy blighted by the coronavirus crisis. Clem Ikanade Agba, Minister of State for Budget and National Planning stated this on Sunday at […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_mi_skip_tracking":false},"categories":[18],"tags":[],"yoast_head":"\n
Nigerian govt may use N2trn of N10.6trn pension fund to build roads, houses » WatchDog Plus Media<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/watchdogplusmedia.com\/?p=23283\" \/>\n<meta name=\"author\" content=\"Odofin\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/watchdogplusmedia.com\/?p=23283#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/watchdogplusmedia.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Construction and Works\",\"item\":\"https:\/\/watchdogplusmedia.com\/?cat=18\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Nigerian govt may use N2trn of N10.6trn pension fund to build roads, houses\"}]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Nigerian govt may use N2trn of N10.6trn pension fund to build roads, houses » WatchDog Plus Media","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/watchdogplusmedia.com\/?p=23283","author":"Odofin","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"BreadcrumbList","@id":"https:\/\/watchdogplusmedia.com\/?p=23283#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/watchdogplusmedia.com\/"},{"@type":"ListItem","position":2,"name":"Construction and Works","item":"https:\/\/watchdogplusmedia.com\/?cat=18"},{"@type":"ListItem","position":3,"name":"Nigerian govt may use N2trn of N10.6trn pension fund to build roads, houses"}]}]}},"rttpg_featured_image_url":null,"rttpg_author":{"display_name":"Odofin","author_link":"https:\/\/watchdogplusmedia.com\/?author=2"},"rttpg_comment":0,"rttpg_category":"<a href=\"https:\/\/watchdogplusmedia.com\/?cat=18\" rel=\"category\">Construction and Works<\/a>","rttpg_excerpt":"The Nigerian government will consider the possibility of committing N2 trillion of the nation\u2019s N10.6 trillion pension fund asset for roads and housing development as part of measures to avert depression in an economy blighted by the coronavirus crisis. Clem Ikanade Agba, Minister of State for Budget and National Planning stated this on Sunday at…","_links":{"self":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts\/23283"}],"collection":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=23283"}],"version-history":[{"count":-4,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts\/23283\/revisions"}],"wp:attachment":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23283"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23283"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}