Ngige Delights With Ivorian Under-Study Of Best Practices On Regulation Of...

The Honourable Minister of Labour and Employment, Sen. Chris Ngige today asserted that the choice of Nigeria by the Ivorian Government to under study...

Federal Allocation: FG, States And Lgc’s Share N518.542 Billion For...

The Federal Government, State governments and Local government Councils have shared a total of N518.542 as Federal allocation for the month of June, 2015. A...

RMAFC Endorses New Tax Increase

The Revenue Mobilization Allocation and Fiscal Commission (RMAFC) has endorsed the new National Tax Policy recently announced by the Federal Government to shore up Nigeria’s dwindling revenue base which suffered decline as a result of the shortfall in international oil prices and activities of militant and vandals in the Niger Delta. It would be recalled that Shettima Umar Abba Gana, Acting Chairman of RMAFC had in July 2016, canvassed for the upward review of value added tax from 5 per cent to about 7.5 per cent in order to improve the country's revenue base. The Acting Chairman who presented a Paper titled “Expanding Nigeria’s Revenue Base: Strategies and New Sources” at a 2-Day National Revenue Retreat (NRR) organized by the federal Ministry of Finance in Kano observed that VAT was a high tax revenue yielding instrument that could be used to shore-up revenue required for financing the ever-expanding public expenditure needs of all tiers of government adding that Nigeria's current VAT rate of five per cent was one of the lowest in the world. In a press statement signed by RMAFC’s Spokesperson, Mr. Ibrahim Mohammed, the Commission reiterated its support for initiatives such as the newly introduced revised tax policy which would go a long way in boosting the nation’s revenue base for sustainable national development.

Synergy Among The Three Tiers Of Government Base Of The Success...

Princess Adejoke pointed that the strong affirmation of support by Mr. President on the implementation of the SDGs offers a unique opportunity to complete the unfinished business of the MDGs and address the economic, social and environmental aspects of sustainable development. She added that the new development agenda is in line with the commitment of the this administration to improve the lives of the poor and fast track the country's development.

FG, States, LGCs Share N400bn December 2016

A total of N400 billion has been distributed as Federal Allocation for the month of December , 2016 by the Federal Government, State Governments and Local Government Councils. The communiqué issued by the Technical sub -Committee of Federation Accounts Allocation Committee (FAAC) at the end of the meeting indicated that the Gross statutory revenue received is N248. 715 billion which is higher by N8.595 billion when compared with the N240. 120 billion received in the month of November, 2016. The shared amount comprised the Month's Statutory distributable revenue of N224.883 billion, Value Added Tax of N79.273 billion, Exchange gain of N52. 842 billion and Excess PPT Account of N42.998 billion.

FAAC Shares N647bn to FG, States, LGC in March 2018

FAAC Shares N647bn to FG, States, LGC in March 2018 The Federation Accounts and Allocation Committee meeting which was declared inconclusive yesterday, was today concluded...

Aliko Dangote is ‘Pride of the Black Race’- Ganduje

Aliko Dangote is 'Pride of the Black Race'- Ganduje Business Mogul and President/CE of Dangote Group, Aliko Dangote, has been described as the ‘Pride of...

OAGF Embarks On Gifmis Training For The Armed Forces

The Accountant-General of the Federation, Ahmed Idris has enjoined the officers of the Armed Forces currently undergoing training on the operations of GIFMIS organized...

IMF Supports OAGF on Cash Management

Mr. Idris made this remark today at an interactive session between the management of the Office of the Accountant-General of the Federation (OAGF) and a team from the IMF, who were at the Treasury on Technical Assistance Mission, aimed at strengthening Cash flow forecasting and Cash Management. AGF noted that the mission has been very enriching and mutually beneficial for both the OAGF team, the IMF, saying that while the capacity and skills of the OAGF team have been enhanced in the area of cash management, cash forecasting and TSA, the IMF team on their part have equally gained a lot: learning from the unique experiences of Nigeria as a developing economy with its own challenges in the area of cash management and forecasting. Speaking further, the Accountant-General assured of the commitment and determination of the Treasury, to do all within its powers to religiously implement the recommendation and agreed timelines, promising to bring other issues to the appropriate authorities. In a remark, the leader of the IMF Technical Team, Mr. Amine Mati, a Senior Resident Economist, Africa Department, who gave a report of their activities these past ten (10) days expressed their satisfaction with the work being done by the Accountant-General and his team and urged them strengthen the Cash Management Unit.

Over 70% of Rice in Nigerian Markets are Foreign Investigations, NCS,...

Over 70% of Rice in Nigerian Markets are Foreign- Investigations …. Customs, CBN React Despite concrete and visible interventions of the Central Bank of Nigeria (CBN)...

FG Flags-Off Port Harcourt – Enugu Train And Freight Service

THe Federal Government has flagged-off Port Hacourt-Enugu inter - city passenger train and freight service at Port Hacourt. Speaking Tuesday, December 23, at the occasion,...

Economy: NBS 2016 4Th Quarter Report shows sign of recovery

The National Bureau of Statistics (NBS) on Tuesday released the 2016 4th Quarter Gross Domestic Product (GDP) Report which shows a significant improvement in the country’s economic fundamentals and promising signs that things are beginning to turn for the better. Although the numbers are still negative, indicators in the critical sectors show some encouraging improvements compared to those of the previous six months and also signposting a gradual recovery from recession. According to the report, Gross Domestic Product (GDP) contracted by -1.30% in the quarter which translates to an estimated growth rate of -1.51% for the full year 2016. Though the released figures reflect the slow-down in the economy for most part of that year, it also shows that the economy is gradually scaling up as indicated by improving trends in several key sectors.

Nigeria Customs Service Targets N1.1tr Revenue in 2017

The Comptroller-General of Customs, Col. Hameed Ibrahim Ali (Rtd) has charged all Customs Area Controllers (CAC) to ensure strict compliance with extant laws to enable the Service achieve its 2017 revenue target of N1,100, 000,000,000.00 (One Trillion, One Hundred Billion Naira). The CGC gave this directive during a strategy meeting with the CACs where he said Area Controllers must either “shape in or ship out” as there is no place for complacency in a Service that plays the crucial roles of revenue collection and border security.

Capacity Building Key To Achieving 10,000mw By 2019 – Fashola

The Minister of Power, Works and Housing, Mr. Babatunde Raji Fashola, has emphasized that the target of 10,000MW by 2019 will not be realized except skill man-power needs are addressed in the sector, adding that design, building of plant, its operation and maintenance can only be carried out by key skilled manpower. So, the role of National Power Training Institute of Nigeria (NAPTIN), in the realization of the noble directive of Government cannot be over-emphasized, he therefore call on the newly graduating trainees under its Graduate Skills Development Programme (NGSDP), to brace up to this challenge by developing positive attitude that would enable them to be creative in solving the myriad of problems responsible for the lack of access to power by large majority of Nigerians.

FG Urges Professional Accountants to be Prudent and Accountable

The Federal government of Nigeria has called on all the Professional Accountants in Nigeria to be prudent, transparent and accountable in managing public resources...

Nigeria’s Financial Statement in Compliance with IPSAS- AGF

Nigeria's Financial Statement in Compliance with IPSAS- AGF Accountant-General of the Federation, Mr. Ahmed Idris has revealed that the 2015 Financial Statements of the Federal...

CBN injects $210m into Forex market

CBN injects $210m into Forex market As the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) commenced its last meeting for 2017,...

FG Promisess To Address Problems Of Nigerian Exporters

The Federal government has assured Nigerian exporters that it will address impediments affecting their export sector. The assurance was given by the Minister of Budget and National Planning, Udoma Udo Udoma when members of the Organised Private Sector Exporters Association held a meeting with him at his office and enumerated some unfortunate challenges confronting the Nigerian exporters

FMITI Urges Jica To Focus On Recycling Of Huge Used Vehicles...

Nigeria is seeking Japanese Government help in recycling huge and disused vehicular carcass that donned the country’s landscape. Speaking at a technical meeting between officials...

NEITI Saves Extractive Sector from Collapse

NEITI Saves Extractive Sector from Collapse The Chairman, Senate Committee on Federal Character and Inter-Governmental Affairs, Senator Tijjani Yahaya Kaura says NEITI’s intervention in the...

Popular News