Nigerian finance minister returns to cabinet

Nigerian President Muhammadu Buhari named a 43-member cabinet, with Zainab Ahmed returning to the Finance Ministry.

The appointments come six months after Buhari won re-election in a February vote disputed by the opposition. The newly formed government faces the challenge of implementing development plans to reverse mounting poverty in the country of 200 million at a time of declining government revenue. Buhari was criticized for his slow response the country’s economic crisis and reluctance to implement market reforms in his first term.

Zainab Ahmed, first appointed to the finance portfolio in September last year, Ahmed replaced Kemi Adeosun, who resigned. She’ll add the budget and planning ministries to her portfolio, making her one of the most powerful ministers in the cabinet. Ahmed will be seeking to boost government revenue, with plans in the offing to raise value-added tax to 7% from 5%, while taming burgeoning public debt now estimated at more than $80 billion.


Source: BNN Bloomberg



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