The Federal Government’s sovereign bonds auction with four tenors conducted on Monday, March 20, recorded N807.9 billion subscription, representing about 124% higher than the projected subscription value. The bonds offer were the 13.98% FGN FEB 2028 (10-year tenor), 12.50% FGN APR 2032 (10-year tenor), 16.2499% FGN APR 2037 (20-year tenor) and the 14.80% FGN APR […]
The Ghanaian Government on Wednesday announced the phasing out of fuel subsidy regime in its fiscal measures to ensure stability and efficiency in the operations of the downstream sub-sector of the nation’s oil and gas industry. The Chief Executive Officer of Ghana National Petroleum Authority (NPA), Mr. Mustapha Abdul-Hamid, who broke this news during a […]
The National Bureau of Statistics (NBS) on Wednesday reported that on the aggregate, Nigeria’s Company Income Tax (CIT) collections for Q4 2022 totalled N753.88 billion, representing N56.31 billion decline from the N810.19 billion collections in the preceding quarter. The NBS, in its just published ‘Company Income Tax Q4 2022’ report disclosed that out of the […]
President Muhammadu Buhari has urged the world’s developed countries to grant duty-free and quota-free market access for exports from the world’s 46-least developed countries (LDCs) in order to promote fairness and boost the global merchandize trade. Buhari, who was quoted as making the call in a statement by his media aide, Garba Shehu, during the […]
As the recent monetary policy measures of the Central Bank of Nigeria (CBN) and electioneering campaigns continue to constrain economic activities nationwide over the past few weeks, researchers at Proshare Nigeria Limited have projected that the nation’s Gross Domestic Product (GDP) will slow down to 2% in the first quarter this year. This is far […]
The Nigerian Exchange Group Plc (NGX) has reported revenue accruals of N6.17 billion for the year ended December 31, 2022, representing 6.8% surge when compared with the N5.78 billion it generated in 2021. The Group explained in its audited financial statement, mainly attributed the increase to the 51.2% increase in treasury investment income, which rose […]
The National Bureau of Statistics (NBS) has reported that the Federation Accounts Allocation Committee (FAAC) distributed N3.16 trillion to the 36 states as net allocation from federally collected revenues in fiscal 2022. The Bureau, in its latest report on FAAC distributions for the year under review, indicated that the distributions to the state governments represented […]
The Nigerian Exchange Limited (NGX) has advocated the need for improved government incentives to encourage companies to list on the nation’s equities market. The NGX’s Chief Executive Officer, Mr. Temi Popoola, who made the call during an interview with journalists, pointed out that exploring the opportunities in capital market through fiscal and other incentives would […]
BudgIT, a leading public data organisation focused on raising active citizens and civic leaders to improve governance by bridging the information gap between the government and citizens, has announced the launching of its interactive FG Budget Dashboard for improved engagement of the government by the people in budgetary processes. The dashboard is a web-based platform […]
….as FIRS, LIRS sign MoU on joint tax audit, investigation Lagos State Governor, Mr. Babajide Sanwo-Olu, has stressed the need for all revenue agencies in the country to work together by widening the tax net to raise the country’s tax to GDP ratio. The governor gave this charge on Monday during the […]