VAT: Rivers meets business leaders as law takes effect; Lagos passes own bill

VAT: Rivers meets business leaders as law takes effect; Lagos passes own bill

  Inaugurates VAT Appeal Commission Alleges FIRS wrote illegally to NASS requesting for constitutional amendment to insert VAT into exclusive list Decries disparity in VAT proceeds sharing to states, an inexplicable injustice   Governor Nyesom Wike of Rivers State has interfaced with the business community in the oil-rich state, telling the heads of the corporates […]

Nigeria’s bilateral debt rises by 145% in 5 years, hits $4.06bn in 2020

Nigeria’s bilateral debt rises by 145% in 5 years, hits $4.06bn in 2020

Nigeria’s accumulated bilateral debt rose by 144.58 percent to $4.06 billion in the five years from December 2015 to December 2020, data on external loans from the Debt Management Office (DMO) have shown.   As of December 2015, the debt figure was just $1.66 billion, but continuous borrowing from countries such as China, France, Japan, […]

Vietnam puts off VP Osinbajo’s visit over spiking Covid-19 Delta variant

Vietnam puts off VP Osinbajo’s visit over spiking Covid-19 Delta variant

  Visit may hold by year-end or early 2022 Nigeria set to push pending MoUs   The Vietnamese government has put off the earlier planned official visit by the vice president, Yemi Osinbajo to the socialist republic’s capital, Hanoi. The visit was initially slated for 11th – 13th August. The Asian nation with a robust […]

Nigeria SEC chief under lawmakers scrutiny over persistent deficit spending

Nigeria SEC chief under lawmakers scrutiny over persistent deficit spending

The Security and Exchange Commission (SEC) has come under the scrutiny of the Nigerian Senate over its inability to generate revenue from operational activities. The senate raised the alarm that the commission was gradually becoming insolvent, stating that it may go bankrupt soon.   That was the verdict of the upper chamber when Lamido Yuguda, […]

Katsina State joins rest of Nigeria on contributory pension scheme

Katsina State joins rest of Nigeria on contributory pension scheme

  As House of Assembly passes bill   The Katsina State House of Assembly has passed an executive bill for the establishment of a Contributory Pension Scheme in the state during its plenary presided over by Tasi’u Maigari,  the speaker of the house. The passage of the bill followed the presentation of the report of […]

Anambra hails inclusion in Nigeria’s oil producing states’ grouping by RMAFC

Anambra hails inclusion in Nigeria’s oil producing states’ grouping by RMAFC

  Says years of fight for inclusion worth it With 14 operational oil wells, state could up its economic growth The Anambra State government is basking in unprecedented euphoria over its recent inclusion in the grouping of Nigeria’s oil producing states by the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC).   Willie Obiano, governor of […]

Delta State 2021 budget faces N40bn revenue shortfall, says  Pere-Gbe

Delta State 2021 budget faces N40bn revenue shortfall, says  Pere-Gbe

The Delta State government has been subjected to a revenue deficit of N40 billion as it undergoes implementation of its 2021 budget. Barry Pere-Gbe, the Delta State commissioner for economic planning, who made the disclosure at the 2022 Citizens Budget Engagement Forum held in Asaba, the state capital, attributed the shortfall to insufficient funds from […]