•Naira notes The Federation Account Allocation Committee (FAAC) on Friday shared a total sum of N1.123 trillion March 2024 Federation Account Revenue to the three tiers of government after its April meeting in Abuja. A statement by the Director of Press and Public Relations at the Office of the Accountant General of the Federation Bawa [&helli...
•Muritala Muhammed International Airport, Lagos The Federal High Court sitting in Lagos has ordered the Federal Airports Authority of Nigeria (FAAN) to show the total annual generated revenue from toll gates and parking lots fees in all federal government-owned airports and how much it remitted from January 2015 till January 2024. Justice Ibra...
•Customs officers Amid existing economic challenges and moves to jerk up the N5.1 trillion revenue of the Nigeria Customs Service (NCS) from the second half of this year to stave borrowings, port users have said the move would increase inflation, as businesses would hugely be affected. They argued that the decision would also affect the [&hell...
The Senate is considering an upward review of the N5.079 billion revenue target of the Nigeria Customs Service (NCS) from the second half of the year to save the country from further borrowings. The Chairman of the Senate Committee on Customs Isah Jibrin stated this during a meeting with the Comptroller General of the Nigeria […]
Nigeria’s non-oil export The Nigerian Export Promotion Council (NEPC) has said that Nigeria’s non-oil export revenue recorded a 6 per cent decrease in value from $4.8 billion in 2022 to $4.5 billion in 2023. Disclosing this recently while addressing newsmen on the performance report of the non-oil export sector for 2023, the Executive Director...
•Mohammed Bello The Revenue Mobilisation Allocation and Fiscal Commission has said a substantial amount of government revenue remains trapped in the vault of commercial banks unremitted. The commission also expressed concern about the non-remittance of monies to the government coffers by revenue-generating agencies to the extent that a large c...
•Uniliver has left Unless audacious steps are taken to fix the ailing Nigerian economy and halt the exodus of multinational firms, the country, literally on ventilators, may eventually collapse, experts warned at the weekend. The warning comes as the federal government, banking on the exaggerated capacity of local firms to fill the void, maint...
The Federation Account Allocation Committee (FAAC) has shared a total sum of N1,088.783 trillion November 2023 Federation Account Revenue to the Federal, States and Local Governments. As contained in a communique issued by the FAAC at its December, 2023 meeting, the N1,088.783 trillion total distributable revenue comprised distributable statut...
•Aduku The Chairman, Arewa Consultative Forum, (ACF), Arch Gabriel Aduku, has said that States governors should have nothing to do with the 13 percent derivation revenue accruing from oil producing states in the country. Aduku was an elected member of the General Sani Abacha’s Constitutional Conference between 1994 to 1995 where he was the cha...
•AGF Oluwatoyin Madein The federal government has commenced the implementation of an automatic 40 per cent deduction of Internally Generated Revenues of Federal Universities and other partially funded institutions across the country. The auto-deduction policy of gross IGR is in line with the Finance Circular with reference number FMFBNP/OTHERS...