Prices of goods, services may rise as FG considers 50% increase in VAT

The prices of goods and services may increase if plans by the Federal Inland Revenue Service (FIRS) to increase value-added taxes by 35% or 50% are approved. Speaking on Tuesday when he appeared before the senate committee on finance in Abuja to give details of the 2019-2021 medium-term expenditure framework and fiscal strategy paper, Babatunde […]

Nigeria’s collective growth sustainable through due process, says BPP DG

Mamman Ahmadu, the Director-General, Bureau of Public Procurement (BPP), says Nigeria’s development as a nation can be sustained through collective growth and only due process through public procurement can deliver that.   Ahmadu said this while receiving the Edo State Public Procurement Agency (ESPPA) delegation on a study tour/visit for a weeklong procurement activity.   […]

Abuja, Cross River, Kebbi residents pay highest transport fare in November

Residents of FCT, Cross River and Kebbi states paid the highest bus fares within their cities in November, the National Bureau of Statistics (NBS) has said. The bureau, in its transport fare watch report for November, said residents of Abuja, the Federal Capital Territory paid an average of N395.00; residents of Cross River paid N320.00 […]

States lack sustainable fiscal plan, BudgIT

Budgit

BudgIT, a social advocacy group, in a recent analysis of the fiscal condition of states, says Nigerian state governments lack sustainable fiscal plan. It noted that “it was critical that state governments embrace a high level of transparency and accountability, develop workable economic plans, take haircuts, especially on overheads, expand their internally generated revenue (IGR) base, […]

Nigeria’s FAAC shared N1.9trn in Q1 2018 – NEITI

FEC

The Nigeria Extractive Industries Transparency Initiative (NEITI) on Thursday disclosed that the Federation Account Allocation Committee (FAAC) disbursed N1.938 trillion in the first quarter of 2018 to the federal, states, local government areas, and other beneficiaries. The amount shared represented an increase of 37.3 percent when compared with N1.411 trillion shared during the same period […]

Nigeria’s Yola, Afam power companies set for privatization as BPE meets transaction advisers

The Nigerian government through its privatisation agency, the Bureau of Public Enterprises (BPE) has kick-started the process of privatizing the Afam Power Generating plant and the re-privatisation of the Yola Power Distribution Company. To this end, the BPE Wednesday met with FBN Quest Consortium, the sole transaction adviser for the privatisation of the two entities, […]

Nigeria’s central bank holds interest rate meeting April 3-4

Central Bank,MPC, CBN, Nigeria's Central Bank

Nigeria’s central bank plans to hold its next interest rate meeting April 3-4, a spokesman said on Monday, contingent on the upper house of parliament confirming the president’s nominees for the monetary policy committee (MPC). The spokesman according to Reuters said, “the new dates for the MPC are April 3 and 4. “We are hoping […]