The Minister of Finance, Budget and National Planning, Zainab Ahmed, has said the country has not opted out of the global tax deal.
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Speaking at the sideline of the event, she said: “We have raised some issues that we are not comfortable with, therefore have not been able to sign up with other countries. We feel that somewhere along the line, they will recognize the limitations we have seen, and also make some necessary adjustments.”
Speaking on the concerns raised by ministers of finance at the meeting, the Minister said the Ukraine war has an impact on the global economy especially with food security challenges.
“In the case of Nigeria, it is also affecting us in terms of input for our fertilizer production and the biggest one is the high prices of energy. Nigeria produces fertilizer and now exports it but one of the major inputs for it is potash but it is threatened by the war. So, while the inputs are being received, the cost is high so it is driving up the price,” Ahmed noted.
She however said the federal government under the Presidential fertilizer initiative may raise support to the fertilizer blending plants to help subsidize the prices.
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