The Acting Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, has allayed business owners’ fears about the moves by the federal revenue agency to increase the country’s tax-to-GDP ratio to 18% from 10.86%, saying attaining the target will not necessarily involving raising tax rates. Adedeji, who restated the President Bola Tinubu-led administration’s […]
Author: brtnews
Again, DBN Tops Transparency, Integrity Ranking
The Development Bank of Nigeria (DBN) has emerged as the highest-ranked public institution in Nigeria in the 2023 Transparency and Integrity Index (TII) released by the Center for Fiscal Transparency and Integrity Watch (CeFTIW). The index, which assessed 511 MDAs and public sector institutions on their level of transparency and accountability in government processes, was produced by […]
FG Mulls Collection Digitalization To Block Revenue Leakages
The Accountant General of the Federation, Dr. Oluwatoyin Madein, has unveiled plans by her office to improve federal revenue generation through investment in digitalization process of revenue remittances and receipts issuance. Madein, who made this disclosure during a meeting with the House of Representatives Committee on Finance, said the Office was ready to collaborate with […]
FG Reviews Mining Regulations, To Commit $19.6Mn To Data Generation
The Federal Government has disclosed that it is currently reviewing regulations in the nation’s mining sector, particularly those relating to the mining of lithium minerals in view of the increasing interests of foreign mining companies in the minerals. As part of the regulatory measures, it maintained that no company would be allowed to mine and […]
Palliatives: Abiodun Extends Civil Servants’ N10,000 Transport Allowance Payment
Ogun State Governor, Prince Dapo Abiodun, has approved the extension of the N10,000 transport allowance granted to the state civil servants to cushion the effect of the removal of fuel subsidy by the Federal Government by another six months. The allowance, which was part of various interventions adopted by the state government following the Federal […]
NNPCL Reports 205 Crude Oil Theft Incidents In 7 Days
The Nigerian National Petroleum Company Limited (NNPCL) has reported that between October 7 and 13, 205 crude oil theft incidents were recorded across oil-producing locations in the Niger Delta region. The company gave these figures during its weekly ‘Energy and You’ series on the NTA News Network. According to the report, there were various illegal […]
Naira Slides To N1,100/$1 At Parallel Market
Indications that current hardships of millions of Nigerians associated with the rising costs of foods, transportation and other basic needs may not abate soon were further validated on Wednesday as the Naira depreciated to an all-time record low of N1,100 to the US dollar at the black market. Investigations by our correspondent at some foreign […]
MDBs Commit $60.7Bn To Climate Finance In Low, Middle-Income Countries
Global Multilateral Development Banks (MDBs) have reported that in 2022, they committed new record of $60.7 billion to climate finance in low-income and middle-income economies, representing an increase of 46% compared to 2019 investments. A new joint report by the MDBs indicated that out of the amount, $38.0 billion, or 63% was committed to climate […]
AFC, SMDF Partner To De-risk Investment In Nigeria’s Mining Sector
Africa Finance Corporation (AFC), the continent’s leading infrastructure provider, and the Solid Minerals Development Fund of Nigeria (SMDF), a Nigerian mining-focused development fund, have partnered aimed at de-risking Nigeria’s mining sector and scaling up artisanal mining activities in the country to an industrial level. The strategic collaboration, which was formalized on Tuesday at the sidelines […]
MAN Flaws CBN’s Latest Policy On FX-Restricted 43 Items
The Vice Chairman of Basic Metal Sector of the Manufacturers Association of Nigeria (MAN), Mr. Lekan Adewoye, has described the new CBN policy directive removing the restriction on foreign exchange (FX) access to 43 items for imports as undesirable for struggling manufacturing industry businesses. The industrialist made this remarks during an interview on TVC Business […]