ECONOMY
Collection of VAT by FIRS remains – FG
The Federal Government says the Federal Inland Revenue Service (FIRS) will continue to collect Value Added Tax (VAT) following the ruling of the Court of Appeal on the matter. The Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami, told the News Agency of Nigeria (NAN) in New…
Read More »Lagos Senator Blames Nigeria’s Debt Burden On Past Military, PDP Govts
Chairman of the Senate Committee on Finance, Senator Solomon Olamilekan Adeola (APC, Lagos West), has claimed that Nigeria incurred a huge part of her total debt profile through the efforts of past administrations dating back to the military era. Adeola made the disclosure on Wednesday during the consideration of the…
Read More »Sit-At-Home: Obiano Enforces Resumption Of Businesses In Anambra, Visits Banks, Markets
Anambra State Governor, Willie Obiano has led the enforcement of return to businesses and other economic activities in the state. The state in the last five weeks have witnessed shutdowns on Mondays, leading to a directive by Obiano to business owners, banks and market leaders to resume duties or risk…
Read More »Lagos: Sanwo-Olu Signs VAT Bill Into Law
Lagos State Governor Babajide Sanwo-Olu has signed into law the State VAT Bill as passed by the House of Assembly. This was confirmed by Gbenga Omotoso, Honourable Commissioner, information & Strategy in a statement The Governor signed the “bill for a law to impose and charge VAT on certain goods…
Read More »Kogi Is Now An Oil-Producing State – Gov Bello
The Kogi State Governor, Yahaya Bello, has stated that the state is now Nigeria’s Northern first oil-producing state. Bello disclosed this after meeting with President Muhammadu Buhari in Abuja. He assured that proceeds from oil would be used to develop other sectors of the economy to avoid past mistakes in…
Read More »Rivers VAT: Wike Threatens To Take Over FIRS Offices If…
Rivers State Governor, Nyesom Wike has continued his fight against the Federal collection of Value Added Tax(VAT)in the State. Governor Wike on Wednesday threatened to “take over” all offices of the Federal Inland Revenue Service in the oil-rich South-South state if the government agency continues with its “bullying”. The governor…
Read More »FAAC Shares N1.9trn to FG, States, LGs in Q2’21
The Federation Accounts Allocation Committee (FAAC) shared a total of N1.9 trillion as Federally collected revenue in favour of the three tiers of government in the second quarter of the year (Q2’21). Vanguard Public Finance quarterly analysis of data from FAAC and the National Bureau of Statistics, NBS, reports for April…
Read More »We Are Borrowing Sensibly, Responsibly, FG Replies Atiku, Other Critics
Nigeria is still at 23 per cent of the Gross Domestic Product, GDP, adding that government borrowing is sensible and responsible. This response comes as the Federal Government had come under a series of criticism by many Nigerians including former Vice President Atiku Abubakar over what he described as an…
Read More »Nigeria’s Economy Grew by Five Per Cent in Second Quarter – NBS
Nigeria’s Gross Domestic Product grew by 5.01 per cent, year-on-year, in the second quarter of 2021, National Bureau of Statistics (NBS) data has shown. NBS disclosed this in its GDP Report for Q2 released on Thursday. According to the report, the 5.01 per cent means growth in three consecutive quarters…
Read More »Nigeria Lost $50bn Investments In 10 years PIB Situation – Buhari
President Muhammadu Buhari has disclosed that Nigeria lost an estimated $50 billion worth of investments in 10 years due to non-passage of the Petroleum Industry Bill (PIB), lack of progress and stagnation in the petroleum industry. The President stated this in his remarks at a ceremony on the Petroleum Industry Act…
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In the Public Interest