“Rather than running after fake drug importers here in Nigeria, NAFDAC has made it difficult if not impossible for them to ship fake drugs into Nigeria without being caught at the country of export. This has lessened the hues and cries over arrests of fake medicine importers in Nigeria by NAFDAC as the agency has taken the battle to the countries where the products are being manufactured.”
The Nigeria Customs Service (NCS)on Wednesday expressed its displeasure over the rotting of three calibre mobile scanning machines worth millions of Naira at the TinCan and Apapa Ports and urged the National Assembly to assist in ensuring that the machines are installed for use at the ports. A Comptroller of Customs, Mohammed Abba-Kura, gave this […]
The Senate on Tuesday urged the Federal Government to fully implement the Executive Order on zero customs duty and zero Value Added Tax (VAT) on importation of commercial aircraft and aircraft spare parts. This is even as it advised the Central Bank of Nigeria (CBN) to make foreign exchange easily accessible for investors in the […]
The Petroleum Industry Bill (PIB) on Tuesday passed through for second reading at the House of Representatives after being dogged by controversies among lawmakers several years after its submission by the Executive for passage. Precisely, the PIB was initiated by the Executive Arm of government about 18 years ago to promote transparency in the nation’s […]
The World Bank on Monday predicted that Nigeria’s per capital income could ebb to its lowest value in 40 years as the volatility of the oil market globally continues to take huge toll on government’s earnings and overall performance of the nation’s economy. World Bank Country Director for Nigeria, Mr. Shubham Chaudhuri, made the latest […]
Governor of Adamawa State, Alhaji Ahmadu Umaru Fintiri, on Monday presented a budgetary proposal for the sum of N140,034,404,440 to the State’s House of Assembly for consideration as the state’s 2021 fiscal budget estimates . Governor Fintiri, who said the proposal would consolidate the socio-economic developments that had been recorded by his administration, urged the […]
Governor of Oyo State, Mr. Seyi Makinde, on Monday presented an Appropriation Bill of N266,644,273,305.04 to the State’s House of Assembly for consideration as budget for the 2021 fiscal year. The governor, during the budget presentation of the Bill tagged: “Continued Consolidation,” said the proposals in the income and expenditure components of the Bill derived […]
President of the Senate, Ahmad Lawan, has advised the Federal Government to explore the use of relevant technology for the purpose of revenue collection by its agencies, so as to prevent the diversion of public funds into private pockets. This was even as he pledged that National Assembly will expeditiously consider the Chartered Institute of […]
The Federation Accounts Allocation Committee (FAAC), on Wednesday at its meeting shared to the three tiers of government a total sum of N604.004 billion as federation allocation for the month of October 2020. From this amount, inclusive cost of collection to NCS, DPR and FIRS, the Federal Government received N220.751 billion, the States got N161.825 […]
As the international oil market’s volatility continues unabated following the lingering COVID-19 pandemic, Nigeria and other oil producing countries in Africa have been advised to develop fiscal regimes that ensure fair treatment for the state without burdening companies with unreasonable obligations on top of their project risks, local content requirements, and the expenses associated with […]