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FG Backs FIRS On VAT Collection

Barely 24 hours after the President of the Senate, Senator Ahmad Lawan, expressed support for continued  collection of the Value Added Tax (VAT) nationwide by the Federal Inland Revenue Service’s (FIRS’) in spite of the legal tussles between the agency and state governments over collection of the consumption tax, the Federal Government on Thursday also […]

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World Bank Forecasts Below Pre-COVID-19 GDP Per Capital For Nigeria, 39 Others

The World Bank has predicted that Nigeria and 39 other countries’ Gross Domestic Product (GDP) per capital may not reach the pre-COVID-19 levels even by 2026, despite modest recoveries in most of the economies and analysts’ growth rates forecasts. The Breton Woods institution made the forecast in its new report titled ‘From Double Shock to […]

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FG, Other Tiers Shared N696.965Bn In August – FAAC

The Federation Accounts Allocation Committee (FAAC) on Wednesday disclosed that the three tiers of government shared a total sum of N696.965 billion as distributable revenue from the Federation Accounts in August. The FAAC gave the figures in a communiqué issued at the end of its virtual meeting in September 2021. The committee stated that N696.965 […]

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Senate Passes 2022-2024 MTEF/FSP, Endorses FIRS’ Collection Of VAT

The Senate  on Wednesday passed the 2022-2024 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) ahead of the expected laying of the 2022 Appropriation Bill before the joint session of the two chambers of the Legislature by President Muhammadu Buhari. The passage of the 2022-2024 MTEF/FSP was sequel to the consideration of  the report […]

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Progressive Governors’ Forum DG Tasks FG On Rising Debt Stock

The Director-General of the Progressives Governors Forum (PGF), Alhaji Salihu Lukman, has appealed to the Federal Government to do more public enlightenment on the rising public debt stock, particularly on latest moves to borrow more from external creditors to fund the 2021 budget deficit. Lukman, who made the appeal in a statement  on Wednesday, also […]

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Nigeria, Others Seek Oil Production Quota Review Amid Supply Shortfalls

As prospects for more crude oil demand continue to brighten as global activity picks up steam amid shortfalls in Organisation of Petroleum Exporting Countries (OPEC) member-countries subsist,  Nigeria on Tuesday indicated intention to formally seek upward review of its production quota by the oil cartel. Currently indications showed that underinvestment and maintenance work had hampered […]

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FIRS Chairman Tasks Tax Systems’ Stakeholders On Digital Skills

The Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami, on Tuesday charged tax regulators and other industry stakeholders to rise up to the challenge of being in a position to tap into the stream of opportunity that advancements in science and technology afford them as a strategic option of improving their […]

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Nigeria’s Leaders Lack Capacity To Transform Economy – Moghalu

A former deputy governor of the Central Bank of Nigeria (CBN), Dr. Kingsley Moghalu, on Monday lamented that the Nigerian government’s excessive involvement in economic issues remained the biggest challenge to re-positioning the nation’s economy on the path of sustainable growth. Moghalu, who expressed his views on the state of the economy during an interview […]

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Buhari Orders Incorporation Of NNPC Ltd, Appoints Board Members

President Muhammadu Buhari has directed the incorporation of the Nigerian National Petroleum Corporation into a limited liability company – NNPC Limited.   The President’s directive was contained in a statement issued on Sunday signed by his Special Adviser on Media and Publicity, Femi Adesina.   According to Adesina, the move by Buhari is in “consonance […]