The Senate has invited the heads of 62 revenue agencies over the low remittances and the need to boost government revenue.

The Senate has invited the heads of 62 revenue agencies over the low remittances and the need to boost government revenue.

The Senate has invited the heads of 62 revenue agencies over the low remittances and the need to boost government revenue. This is according to an advertorial published by the Senate Committee on Finance. Some of the agencies include: The Federal Airports Authority of Nigeria, Nigerian Ports Authority, Federal Inland Revenue Service, Nigeria Deposit Insurance Corporation, Nigerian Meteorological Agency, National Agency for Food and Drug Administration and Control, Federal Road […]

January 31, 2022 151

BUSINESS

Aviation industry regulator-the Nigerian Civil Aviation Authority-is considering a major review of domestic airlines’ operating licence fees and other charges, in order to ensure its bills are in tandem with current realities and what is obtainable in other countries.

Aviation industry regulator-the Nigerian Civil Aviation Authority-is considering a major review of domestic airlines’ operating licence fees and other charges, in order to ensure its bills are in tandem with current realities and what is obtainable in other countries. The Director-General, NCAA, Captain Nuhu Musa, made the disclosure during an interview in Lagos. He said the regulator was subsidising the industry considering how low its charges had remained over the […]

January 31, 2022 149

BUSINESS

A report by the National Bureau of Statistics has shown that intra-city transport fares in Nigeria have increased by 283 per cent on the average amid the rising cost of fuel subsidy to the Federal Government.

A report by the National Bureau of Statistics has shown that intra-city transport fares in Nigeria have increased by 283 per cent on the average amid the rising cost of fuel subsidy to the Federal Government. The average cost of bus transportation within Nigerian cities rose from N122.83 in January 2017 to N470.83 in December 2021, reports have shown. This means that the cost of intra-city bus transportation has risen […]

January 31, 2022 176

BUSINESS

The Office of the Auditor General of the Federation has disclosed that 15 Ministries, Departments, and Agencies failed to remit N127.13bn revenue to the Consolidated Revenue Fund between 2017 and 2019.

The Office of the Auditor General of the Federation has disclosed that 15 Ministries, Departments, and Agencies failed to remit N127.13bn revenue to the Consolidated Revenue Fund between 2017 and 2019. The OAuGF made this known in its 2019 Annual Report on Non-Compliance, Internal Control, and Weakness Issues in MDAs of the Federal Government of Nigeria for the year ended December 31, 2019, which was submitted to the National Assembly. […]

January 4, 2022 32

BUSINESS

The Ogun State Governor, Dapo Abiodun, says his administration is committed to making Ogun an oil producing state in the country.

The Ogun State Governor, Dapo Abiodun, says his administration is committed to making Ogun an oil producing state in the country. Abiodun said this while delivering a convocation lecture at the 2nd and 3rd convocation programmes of the Mountain Top University, with the topic, “Quest for excellence: The Nexus of faith, knowledge and resilience.”. The governor said he was privileges to work as the chairman of the Olokola Free Trade […]

December 28, 2021 176

BUSINESS

Experts in the telecommunication industry have said the move by the Federal Government to tax social media companies is right because the companies generate commercial revenues from the nation

Experts in the telecommunication industry have said the move by the Federal Government to tax social media companies is right because the companies generate commercial revenues from the nation. According to Meta, 7.5 per cent value-added tax will be applied on sales of ads to advertisers from January 2022, and this applies to all non-resident businesses that provide digital service in the nation. The company’s spokesperson said, from 2022, Nigeria […]

December 28, 2021 99

BUSINESS

The Nigeria Civil Aviation Authority says international airlines will be made to pay $3500 fine on each passenger flown into the country not complying with the Federal Government’s Revised COVID-19 Provisional Quarantine protocol.

The Nigeria Civil Aviation Authority says international airlines will be made to pay $3500 fine on each passenger flown into the country not complying with the Federal Government’s Revised COVID-19 Provisional Quarantine protocol. The NCAA said non-compliance with the COVID-19 protocol requirements could also lead to an outright ban of the non-compliant airline. In an All-Operators Letter with reference NCAA/DG/AIR/16/327 issued to all accountable managers and signed by the Director-General […]

December 8, 2021 30

BUSINESS

There was confusion among power sector operators on Tuesday after President Muhammadu Buhari, fired the management of the Abuja Electricity Distribution Company as a result of the strike embarked upon by the AEDC workers the preceding day.

There was confusion among power sector operators on Tuesday after President Muhammadu Buhari, fired the management of the Abuja Electricity Distribution Company as a result of the strike embarked upon by the AEDC workers the preceding day. Officials of the Federal Ministry of Power said the management of AEDC had been replaced with an interim governing council, stressing that the directive came from the Presidency. Austin Asoluka, told reporters in […]

December 8, 2021 39

BUSINESS

The Central Bank of Nigeria has fixed the maximum loan amount that a participant in its newly introduced initiative, called ‘The 100 for 100 PPP – Policy on Production and Productivity’, can get at N5bn.

The Central Bank of Nigeria has fixed the maximum loan amount that a participant in its newly introduced initiative, called ‘The 100 for 100 PPP – Policy on Production and Productivity’, can get at N5bn. The CBN disclosed this in its guidelines for the implementation of the initiative which was released on Saturday. It said quarterly, starting from November 1, 2021, the initiative shall select 100 private sector companies with […]

November 9, 2021 82

Call us +234 (0) 9073530044

BUSINESS