Banking Budgeting Economy News Extra Latest News Political Economy Revenue Revenue Agencies Taxation Technology

2022: FIRS Sets 100% Automation Of Tax Administration Processes Target

The Federal Inland Revenue Service (FIRS) has stated that it will achieve 100% automation of all its tax administration processes with the aim of blocking revenue leakages thereby revolutionizing revenue generation in Nigeria. Calling for the cooperation of Nigerians to achieve this, the Executive Chairman of the FIRS, Muhammad Nami, while speaking as the Special […]

Budgeting Economy News Extra Latest News National Assembly Oil & Gas Planning & Economic Development Political Economy Revenue Taxation

House Of Reps Approves N17.1Trn 2022 Budget

Nigeria’s House of Representatives on Tuesday approved the sum of N17.127 trillion budget for 2022 fiscal year. The passage of the budget followed the consideration and adoption of clauses in the Bill’s report presented by the Chairman of the House Appropriation Committee, Hon. Muktar Betara. The figures represented about N736 billion more than the N16.391 […]

Economy News Extra Latest News Maritime Revenue

NIMASA Retains Stevedoring Rates

The Nigerian Maritime Administration and Safety Agency (NIMASA) has retained the revised Offshore Cargo Handling and Operations Stevedoring rates contained in the Second Schedule of the NIMASA Stevedoring Regulations 2014. The renewal of the rates, which had been reviewed downward for a period of six months, is part of the agency’s sustained efforts to mitigate […]

Agriculture & Agribusiness Banking Economy News Extra Latest News Revenue

CBN Earmarks N41Bn Through Heritage Bank For Wheat Project Farming

The Central Bank of Nigeria (CBN) has earmarked N41 billion, which is being disbursed by Heritage Bank Plc to farmers across some states, for the expansion of wheat production in a bid to meet high demand amid poor production capacity of wheat farmers nationwide. The disbursed fund is to consummate the expansion of Wheat Seed […]

Accounting & Financial Reports Banking Economy News Extra Latest News National Assembly Revenue

Nigeria’s Total Public Debt Hits N38.005Trn In Q3 2021

In line with its practice, the Debt Management Office (DMO) has published Nigeria’s total public debt as at September 30, 2021, totaling N38.005 trillion (about USD92.626 billion.. The figures comprised the total external and domestic debts of the Federal Government of Nigeria (FGN), 36 State Governments and the Federal Capital Territory (FCT) The DMO attributed […]

Economy News Extra Latest News Oil & Gas Revenue Tax Technology

Security Key To Improved Oil Productivity, Revenue Earnings – CSEA

The Centre for the Study of the Economies of Africa (CSEA), a think tank research firm focusing on activities in Africa’s economies, has urged the Federal Government to strengthen security in the oil producing areas as a step towards improving productivity and halting the dwindling revenues from the nation’s hydrocarbon resources industry. The think tank […]

Budgeting Economy News Extra Latest News National Assembly Planning & Economic Development Revenue Revenue Agencies Taxation

Finance Bill 2021: “Our Tax System Must Work For Every Nigerian” – Nami

The Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami , on Monday said that  the 2021 Finance Bill must be tailored towards enabling an efficient tax system that works for every Nigerian. Nami was quoted by his Special Assistant (Media & Communication), Johannes Oluwatobi Wojuola, in a statement as making this […]

Budgeting Economy News Extra Latest News Planning & Economic Development Political Economy Revenue Statistics

FIRS Advocates Inclusion Of States, LGs’ Revenues In GDP Computation

The Executive Chairman of Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami, on Monday advocated the need for aggregation of all revenues generated at national and sub-national levels for the purposes of ensuring accurate computation of Nigeria’s tax-to-GDP ratio and using the figures for planning and development. The FIRS boss, made the call in his […]

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US SEC Charges Firm, Former Executives With Revenue Manipulation Scheme

The United States’ Securities and Exchange Commission (SEC) on Monday charged American Renal Associates Holdings, Inc. (ARA), a provider of dialysis services through clinics across the country, with engaging in a revenue manipulation scheme that resulted in the restatement of several years of financial reporting. The commission also charged two of ARA’s former chief financial […]