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Nigeria: Company Income tax drops 35.4% to N1.13trn, VAT up 26.61% in Q4 2023
Nigeria’s aggregate Company Income Tax (CIT) for Q4 2023 dropped by 35.40 per cent to N1.13 trillion from N1.75 trillion recorded in Q3 2023, the National Bureau of Statistics (NBS) said. This is as the aggregate Value Added Tax (VAT) rose 26.61 per cent to N1.20 trillion from N948.07 billion…
Read More »Military frowns at late report of kidnapping incidents
The Defence Headquarters (DHQ) has lamented the none timely report of kidnapped incidents across the country, saying it has affected its search and rescue of victims. This is coming as the military confirmed that troops killed 213 terrorists and arrested 216 across the country. The Director, Defence Media Operations Major…
Read More »NNPC Ltd Solicits EFCC’s Support in Fight against Crude Oil Theft
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has appealed to the Economic and Financial Crimes Commission (EFCC) to help tackle the menace of crude oil theft in the country. The Group Chief Executive Officer of the company, Mr. Mele Kyari, made the appeal at an interactive session with the…
Read More »Nigeria: Reps to probe N200b spent on 2023 population census
Nigeria’s House of Representatives is set to probe the N200 billion spent on the suspended 2023 Population and Housing Census. This followed the adoption of a motion by Rep. Clement Akanni (PDP-Osun), during plenary in Abuja on Thursday. Moving the motion, Akanni said the immediate-past administration of former president Muhammadu…
Read More »NLNG puts LPG supply into Nigerian market at 500,000 metric tons
Nigeria LNG Limited (NLNG) has noted reports indicating that it supplies 1.5 million metric tons of Liquified Petroleum Gas (LPG) to the Nigerian domestic market. NLNG would like to clarify that it annually provides close to 500,000 metric tons of LPG to meet market demands. This is in pursuit of…
Read More »Reps summon CBN Governor over alleged revenue leakages
Nigeria’s House of Representatives Public Account Committee (PAC) has summoned the Central Bank of Nigeria (CBN) Governor, Mr Olayemi Cardoso to appear before it on or before Tuesday, March 5, or face arrest warrant. Rep. Bamidele Salam, the chairman of the committee said this in Abuja on Tuesday at the…
Read More »CBN’s MPC raises interest rate by 400 basis points to 22.75%
Story by: Abiodun Folarin The Monetary Policy committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday increased interest rate- the Monetary Policy Rate (MPR) by 400 basis points from 18.75 per cent to 22.75% saying that the hike in policy rate will help tame inflation pressure. The…
Read More »CBN approves $20,000 for BDCs to meet demands
The Central Bank of Nigeria (CBN) on Tuesday approved allocation of 20,000 dollars to all eligible Bureau De Change (BDC) operators across the country as part of its on-going reforms. Dr Hassan Mahmud, Director, Trade and Exchange Department, CBN, in a circular, said the move was aimed at tackling distortions…
Read More »IOC’s Divestment: We Facilitate, Not Hinder Process – NNPC Ltd
The Nigerian National Petroleum Company Limited (NNPC Ltd), as the largest partner to all the oil producing companies in Nigeria, has assured that its role in the divestment of the International Oil Companies from onshore and shallow water assets in the country is that of a facilitator, and not an…
Read More »Senate commend NASENI on accelerated technology transfer
The Senate Committee on National Agency for Science and Engineering Infrastructure (NASENI) has commended the Agency for championing local content development of Solar-Powered smart irrigation, tricycles, electric motorbikes and others with accelerated technology transfer. The Chairman, Senate Committee on NASENI Senator Ezenwa Francis Onyewuchi who led other members of the…
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