The House of Representatives Public Accounts Committee has advised the Securities and Exchange Commission (SEC) and Fiscal Responsibility Commission (FRC) to amicably resolve the differences on the alleged non-remittance of over N45 billion to the Consolidated Revenue Fund. Following defences put up by the SEC and FRC during the public hearing on leakages of government […]
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, on Monday hinted that the Federal Government intended to reduce the cost of tax expenditures for corporates and ensure that tax incentives have positive impacts on their operations as a strategic step towards growing the nation’s economy. The minister disclosed this while […]
Researchers at the Centre for the Study of Economies of Africa (CSEA), a leading economic research firm with primary focus on developments in African economies, have advocated the need for the Federal Government to review its debt management procedures and framework to ensure that borrowing is resorted to only when necessary and that borrowed funds […]
Lingering controversies over Nigeria’s National Water Resources Bill, initially forwarded to the National Assembly in April 2017 to implement the Nigeria Sustainable Urban and Rural Water Supply, Sanitation and Hygiene Program-for-Results (SURWASH Programme) have stalled the release of the $700 million loan from the World Bank, documents from the multilateral development finance institution have indicated. […]
The Federation Account Allocation Committee (FAAC) has shared a total sum of N 1,152.756 billion the Federal Government, States and Local Government Councils out of the revenues that accrued to the Federation Account in February this year The revenue was shared at the March 2024 FAAC meeting chaired by the Minister of Finance and Coordinating Minister […]
Barely few days after President Bola Tinubu forwarded the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill 2024 to the National Assembly, the Senate on Wednesday passed the bill. The passage of the bill was sequel to the presentation by the chairman of the Senate’s committee on tertiary institutions and TETFUND, Muntari […]
…As Diesel Price Rises By 50.20% Motorists and other Premium Motor Spirit (Petrol) consumers in the country paid an average retail price of N679.36 per litre in February this year, compared to the N263.76 they paid for the same quantity of in February 2023, representing a 157.57% increase in the commodity’s price. The National Bureau […]
The Nigeria Customs Service (NCS) and the Joint Tax Board (JTB) have signed a Memorandum on Understanding (MoU) aimed at strengthening their collaboration in the current drive by the fiscal authorities to enhance tax administration at all tiers of government in the country. The deal was sequel to an earlier meeting held on the 16 […]
Nigeria’s Senate, the upper legislative chamber, on Monday inaugurated an ad-hoc committee to investigate the Central Bank of Nigeria’s (CBN’s) Ways and Means loans to the Federal Government and the Anchor Borrowers Programme (ABP) intervention funds in the agriculture sector over the past years. In his inaugural address to the ad-hoc committee chaired by Senator […]
President Bola Tinubu has directed the introduction of fiscal incentives for related projects, reduce contracting costs and timelines, and promote cost efficiency in local content requirements in the oil and gas sector. The Presidential order is sequel to “extensive engagements, analyses, and benchmarking with other jurisdictions”. The President’s Special Adviser on Media and Publicity, Ajuri […]