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 […]
President Bola Tinubu has written to the National Assembly for the extension of the 2023 capital budget implementation timeline from March 31, 2024, to June 30, 2024. The Speaker of the House of Representatives, Hon. Abbas Tajudeen, read the letter from the President on Wednesday during the plenary session. According to the President, the extension […]
The Acting Head of Infrastructure South Africa (ISA), Mameetse Masemola, has estimated that the country will need nearly $5.7 trillion to close the infrastructure investment gap between now and year 2050. The ISA’s boss gave this estimate in a statement issued during the Sustainable Infrastructure Development Symposium South Africa (SIDSSA) on Monday. During a media […]
…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 […]
The Bank of Japan has ended eight years of negative interest rates and other remnants of its unorthodox policy, making a historic shift away from a focus of reflating growth with decades of massive monetary stimulus. News reports on the BoJ’s latest policy on Tuesday indicated that while the move was Japan’s first interest rate […]
The Centre for the Promotion of Private Enterprise (CPPE) has described the recent remarks on the floor of the House of Representatives on cement price which portrayed cement manufacturers in very bad light as not desirable and uncalled for in view of the prevailing economic whirlwinds in the economy. The Chief Executive Officer (CEO) of […]
The National Bureau of Statistics (NBS) reported on Friday that on the aggregate, Value Added Tax (VAT) collections in Nigeria increased to N1.20 trillion in the fourth quarter of 2023 (Q4 2023), showing a growth rate of 26.61% on a quarter-on-quarter basis from N948.07 billion raked in from the revenue source in Q3 2023. In […]
….Highest Rate In Over 30 Years Despite sustained policy measures by the Central Bank of Nigeria (CBN) to moderate the nation’s inflation rate, the general price level in the economy continues its upward trend, rising to 31.70% in February this year from the 29.90% recorded in the preceding month. The National Bureau of Statistics (NBS), […]
…As 49% Of Population Lives In Slums The President of African Development Bank (AfDB), Dr. Akinwumi Adesina, has charged the Nigerian government to urgently introduce welfarist policies needed to ensure all Nigerians have access to basic and affordable housing. Adesina, who gave the charge in his lecture at the occasion where he was honoured with […]