States record N691bn IGR in six months — NBS

October 11, 2019

Within a six months period covering January to June this year, the 36 states and the Federal Capital Territory generated the sum of N691.11bn as internally generated revenue. The figure is contained in the second quarter IGR report released on Friday by the National Bureau of Statistics. The report explained that the N691.11bn represents an […]

MMA Customs revenue generation for September rises by 25%

October 10, 2019

By Samson Echenim  Revenue generation by the Murtala Mohammed Airport area command of the Nigeria Customs Service for September 2019 hit N4.99 billion, up from N3.97 billion generated in the same month in 2018, showing an increase of 25 percent.  The command, in a statement on Tuesday, said it exceeded its monthly revenue target with […]

2020 Budget: CSOs raise concerns over VAT increase, frivolous items, others

October 10, 2019

Less than 24 hours after president Muhammadu Buhari presented the 2020 budget proposal of N10. 33 trillion to the National Assembly on Tuesday, Civil Society Organisations, CSOs, have raised grave concerns over items of the proposed budget, which include an increase of value added tax, VAT, to 7.5 per cent, frivolous items, deficit and borrowings, […]

Airtel Africa, Mastercard target 100m customers with e-payment solutions

October 9, 2019

By Omobayo Azeez   Airtel Africa has partnered Mastercard, the digital payment service provider, to give over 100 million Airtel Africa mobile phone users across 14 African countries access to Mastercard’s global e-payment network. According to the telecoms company in a statement on Wednesday, Mastercard virtual card which is different from its plastic card will […]

Oxford Business Group partners with LCCI on 2020 economic report

October 9, 2019

 By Kenneth Afor    The Oxford Business Group has partnered with the Lagos Chamber of Commerce and Industry (LCCI) on the preparation of an economic report across sectors of the Nigerian economy for investment opportunities. The partnership is to beam a search light on major sectors in the country’s economic climate as Nigeria is gradually […]

Buhari exempts firms with N25m turnover from VAT

October 9, 2019

Firms making a turnover of N25 million and below will be exempted from payment of the value added tax (VAT), president Muhammadu Buhari said on Tuesday. He stated this while presenting his N10.33 trillion 2020 budget estimates to the joint sitting of the National Assembly in Abuja. The federal government has raised VAT from five […]

September revenues up 25% y-on-y at MMA Customs

October 9, 2019

By Samson Echenim  Revenue generation by the Murtala Mohammed Airport area command of the Nigeria Customs Service for September 2019 hit N4.99 billion, up from N3.97 billion generated in same month in 2018, showing an increase of 25 percent.  The command in a statement on Tuesday said it exceeded its monthly revenue target by ₦674. […]

FG initiates new measures to boost mining sector revenue

October 8, 2019

By Tola Akinmutimi   The federal government on Tuesday hinted that it had initiated some policy measures  to ensure that revenue leakages from the nation’s mining sector were plugged and also make the industry more investment-friendly. Olamilekan Adegbite, the minister for mines and steel development, gave this hint  during a roundtable session at the ongoing […]

Checklist review: Operators to bear liability, SEC says

October 8, 2019

The Securities and Exchange Commission has said issuing houses would bear the resulting liability of incomplete or deficient documentation under the checklist review system. SEC had on July 1 introduced the checklist review to improve market efficiency. It said the introduction of the checklist review process for the capital market would make the system more […]