BudgIT has launched its States Fiscal Transparency League (SFTL), an initiative which builds on the recently concluded World Bank’s State Fiscal Transparency, Accountability, and Sustainability (SFTAS) Programme, designed to promote fiscal transparency and facilitated accountability in public resource management. It would be recalled that the World Bank developed SFTAS (States Fiscal Transparency, Accountability, and Sustainability), […]
….says govt could safe N11trn from fuel subsidy removal by 2025 The World Bank Group has said that Nigeria can leverage the new reforms of the President Bola Tinubu-led administration to address her current macroeconomic imbalances. The Washington-based development finance institution made this remark during the launch of the June 2023 edition of the Nigeria […]
….lists reform priorities The new Comptroller-General of the Nigeria Customs Service (NCS), Adewale Adeniyi, has promised to continue with the reforms of his predecessor, Col. Hameed Ali (rtd), to further consolidate on the achievements recorded so far and further improve the operations of the Service in line with its statutory mandate, Adewale, made this pledge […]
The Federal Inland Revenue Service (FIRS) has partnered the Market Traders Association of Nigeria (MATAN) to ensure improved Value Added Tax (VAT) collection and remittance, especially in the informal sector, to it from markets across the country,. The association, which membership is drawn from over 40 million traders across the 774 local government councils, is […]
The external debt profiles of the 36 states of the Federation and the Federal Capital Territory may significantly surge following the latest policy measure of the Central Bank of Nigeria (CBN) on floating exchange rate for the national currency – the Naira. Following the measure, it is estimated that the states’ debt stock has surged […]
…..grants approval to six firms for fuel importation in July The Federal Government on Monday gave ship owners operating on Nigeria’s waterways a three-month deadline to settle their accumulated taxes over the past decade, which run into billions of Naira in arrears. It threatened to bar the ship owners from operating in the country’s ports […]
…..dissolves boards of federal agencies, parastatals, others President Bola Ahmed Tinubu on Monday approved the immediate retirement of all Service Chiefs, including the Inspector-General of Police (IGP) Advisers, and the Comptroller-General of the Nigerian Customs Service and their replacement with new appointees. A statement issued by the Director of Information, Office of the Secretary-General to […]
The Nigerian Customs Service (NCS) has written to diesel suppliers in the country on a new fiscal measure requiring them to pay Value Added Tax (VAT) on automobile gas oil (AGO) or diesel imported into the country. The Service’s Assistant Comptroller-General of Tariff and Trade, MBA Musa, in a letter issued on behalf of the […]
The Nigerian Ports Authority (NPA) has inaugurated modern control towers for the Lagos and Tin Can Island Port complexes as part of its sustained drive of transforming the Nigerian maritime logistics hub into sustainable port services in Africa. The Managing Director/CEO of NPA, Mr Mohammed Bello-Koko, said at the inauguration of the towers on Thursday […]
….seek stakeholders’ support for successful exercise The Federal Inland Revenue Service (FIRS) and Lagos Internal Revenue Service (LIRS) have issued a public notice on the Memorandum of Understanding (MoU) signed by them to establish a Joint FIRS and LIRS Audit and Investigation Team aimed at encouraging the exchange of information between both agencies. Based on […]