FEC Approves N1.5bn For Advertising

The Federal Executive Council ( FEC ) on Wednesday approved N1.5 billion for advertising campaign for nine months in radio, television, online and newspapers.

The Minister of Finance, Kemi Adeosun, briefed State House correspondents at the end of FEC meeting in Abuja.

She was with the Minister of Information, Lai Mohammed and Minister of Water Resources, Suleiman Adamu, at the briefing.

She said: “I presented a memo on the voluntary Asset Declaration Bill for approval of N1.5b to cover advertising campaign for nine months, for radio, television, online and newspapers including center spread.”

The minister said she also briefed FEC, chaired by Vice President Yemi Osinbajo, on the progress made by the government under the tax amnesty.

She added: “And it has been very well received. We have people who are ready to declare and pay. We sent out over 500 letters under the first batch, but there are thousands of Nigerians being targeted but the first 500 letters have gone out.

“We have started to get responses back and many people are asking for time to pay. Most of the governors have agreed to give more time for people to make arrangements for payments. This is indeed a very good news for Nigeria as it will help reduce over reliance on oil. It will improve our tax revenue so that whether oil prices are high or low, we will be able to provide basic services for our people.

“Very high net worth people are now being brought into the tax revenue profile. We hope to exceed the target that has been set.”