The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr. Taiwo Oyedele, on Monday flawed the current tax system in view of its multi-dimensional loopholes, especially for its multiplicity and other administrative incoherence, describing it as one of the militating factors responsible for under-performance of businesses and the nation’s economy. Oyedele, who […]
As we earlier predicted, the Debt Management Office (DMO) has opened offers for subscription for two-year and three-year tenure of Federal Government of Nigeria (FGN) saving bonds to investors as part of its mandate to raise funds for national development as fiscally desirable. The Office, in the disclosure on the debt instruments published on its […]
For Nigeria to attain optimum tax revenue collection capacity at all levels of government, tax authorities in the country must make hard but necessary reforms that would yield long term benefits, the Executive Chairman of the Joint Tax Board (JTB), Mr. Muhammad Nami, has said. Nami, who is also the Executive Chairman of the Federal […]
PricewaterhouseCoopers (PwC), one of the global leading global economic research and consulting firms, has set three key operational areas for corporate managers in the country to focus on to enable them cope with the current fiscal and monetary whirlwinds and position their entities on the path of growth and improved returns on investments. The research […]
The Murtala Muhammed International Airport (MMIA) Command of the Nigeria Customs Service (NCS) reported that it generated N38,707,054,216.44 in the first half of this year, representing 79.6% of its yearly revenue target for the financial year. The Area Command Comptroller, M.S Yusuf, stated that the Command had been consolidating on its recent achievements in the […]
The Federal Road Safety Commission (FRSC) and the Nigeria Customs Service (NCS) on Thursday hinted of their collaborative efforts to commence the integration of National Vehicle Information database in a move to curb revenue losses associated with poor database of registered vehicles in the country, The two agencies agreed on the initiative during the visit […]
….says industry needs $12.1trn investment to meet demand The Organization of Petroleum Exporting Countries (OPEC) has predicted that global energy needs will continue to increase given the expected growth in the world economy and population over the years ahead and estimated that energy demand would increase by 23% in 2045. The Secretary General of the […]
The International Monetary Fund (IMF) on Tuesday raised its 2023 global growth estimates slightly higher as economic activity in the first quarter globally remained upbeat across geo-political regions worldwide. It, however, noted that persistent challenges were dampening the medium-term outlook of the global economy. The Breton Woods institution, in its latest World Economic Outlook, stated […]
Electricity distribution companies (DisCos) in Lagos are set to upgrade customers’ meters to the new Standard Transfer Specification (STS). Industry sources cited by the News Agency of Nigeria (NAN) in a report indicated that the upgrade of meters would start in August and expected to be completed before November 2024. According to the DisCos, the […]
The Federal Government at the weekend unveiled plans to reduce the number of federally collectable taxes from 52 to 10 and also change the Federal Inland Revenue Service (FIRS) to Nigeria Revenue Service (NRS) as part of its renewed moves to harmonise tax collection activities and improve the efficiency of the fiscal system. President Tinubu’s […]