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Oil Prices Hit Six-Month High As U.S Tightens Sanctions On Iran

Oil prices in the international oil market rose to near six-month highs on Tuesday as the United States tightened sanctions on Iran, thereby sending shares of energy companies higher and boosting currencies of several major crude producers. For instance, Brent crude oil futures rose 0.7 per cent to $74.57 per barrel by 0630 GMT, their highest since […]

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FG, Other Tiers Shared N1.92Trn In Q1, 2019 – NBS

The National Bureau of Statistics (NBS) has reported that a total sum of N1.92 trillion was disbursed by the Federation Account Allocation Committee (FAAC) to three tiers of government in first quarter of this year. The bureau, in its latest report on monthly disbursements to the tiers of government indicated in January, the Federal, State […]

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Ministry Declares Revenue Collection On Federal Highways Illegal

The Federal Ministry of Transportation has said that revenue collection by state and local government agents along federal highways is illegal and called on the law enforcement agents to halt the practice. The position of the ministry on collection of revenues on federal highways, through erection of road blocks by the sub-national governments agents, was […]

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LCCI Seeks Automotive Policy Review, Incentives For Local Automakers

The Lagos Chamber of Commerce and Industry (LCCI) has called on the government to consider immediate review of the nation’s Automotive Policy in view of its flaws that are not reflective of the current realities in the industry and attendant negative implications for the development of the local industry. The organized private sector (OPS) group […]

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IMF Advises FG To Reduce Tax Exemptions, Incentives

The International Monetary Fund (IMF) has advised the Nigerian government on the need to reduce its tax exemptions and incentives list for companies as a strategic option of boosting non-oil tax collections. In addition, the Fund also tasked government on tax reforms, including raising excise taxes and expanding its scope to cover more goods The […]

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FIRS, Commission To Automate Lottery Sector’s VAT Collection

The Federal Inland Revenue Service (FIRS) and the National Lottery Regulatory Commission (NLRC) have initiated processes for the automation of Value Added Tax (VAT) collection in the lottery and gaming businesses in the country. The Head, Communications and Servicom Department of FIRS, Wahab Gbadamosi, in a statement quoted the Executive Chairman, Tunde Fowler, as making […]

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SARS Workers End Four Day-Long Industrial Action

Workers of the South Africa Revenue Service (SARS) on Tuesday called off their four-day strike following their acceptance of the fiscal authorities’ offer of eight percent wage increase in 2019 and a CPI-plus-2-percent rise for 2020-21. The deal was struck following negotiations with the authorities by a union representing about half its employees, National Education, […]

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Peterside Lauds Appeal Court Judgment On Agency/NLNG Case

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, at the weekend described the Appeal Court judgement in the case between the agency and the Nigerian Liquefied Natural Gas (NLNG) Limited over levies payable to the maritime regulator as desirable to the nation’s justice system. The Court of Appeal […]