Despite the recent attack on the Saudi Arabia oil facility, the Nigerian Government says the existing crude oil benchmark will be maintained for the time being. The Minister of State for Budget and National Planning, Clement Agba who made this known at a news conference in Abuja said it is wrong for anyone or nation to celebrate the misfortune of another for the sake of economic gains. The Minister of Finance, Budget and National Planning, Zainab Ahmed used the occasion to shade more light on the recent increment of the Nigeria’s Value Added Tax to 7.5% from the initial 5%. Meanwhile, the Minister and the Nigerian Economic Summit Group earlier took turns to speak on the benefit to be derived from the forthcoming Economic Summit in the Nigerian Capital City, Abuja. The theme for this year’s Summit is “Nigeria 2050: Shifting Gears”.
