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Petroleum Profit Tax

Presidency: Nigeria heading for fiscal crisis

The Presidency Monday, raised the alarm that the country might be heading for a fiscal crisis unless urgent steps were not taken to halt the negative trends in target setting and realisation in government revenue.
Zainab Ahmed

Federal, states, local governments share N617.566 billion for March

A total of N617.566 billion has been distributed as Federal Allocation for the month of March, 2019 among the Federal Government, State Governments and Local Government Councils.
Nigerian National Petroleum Corporation (NNPC)

NNPC, NPDC to unveil LPG facilities in Edo to boost consumption

The Nigerian National Petroleum Corporation (NNPC) and its Exploration and Production subsidiary, Nigerian Petroleum Development Company Limited (NPDC), Thursday in Abuja, disclosed that they are set to unveil the largest LPG and Propane Storage and Dispensing facility in Oredo, Benin City, Edo State.

Delta, Akwa Ibom received highest as federal, states, local governments shared N8 trillion in...

A new report has disclosed that the federal government, 36 states and the 774 local government councils in Nigeria shared a total sum of N8 trillion from the Federation Account in 2018 in spite of the shut-ins in several oil installations during the period.
Acting Finance Minister of Finance Zainab Ahmed

Nigeria’s Excess Crude Account most poorly managed – report

Nigeria’s Excess Crude Account (ECA) has been ranked as the most poorly governed among similar funds operated by resource-rich countries in Sub-Saharan Africa, a new report by the Natural Resource Governance Institute (NRGI) has shown.
Ahmed Idris, the Accountant-General of the Federation (AGF)

Federal, states, local governments share N619.857 billion for February

A total of N619.857 billion has been distributed as federal allocation for the month of February 2019 among the Federal, States and Local Government Councils.

Experts: VAT increment will further worsen Nigerians’ situations

A notice by Minister of Budget and National Planning, Senator Udoma Udo Udoma and Executive Chairman of Federal Inland Revenue Service (FIRS) Mr. Babatunde Fowler of government’s intention to raise the rate of value added tax (VAT) before the end of 2019 is presently causing ripples among various categories of Nigerians.
Ahmed Idris, the Accountant-General of the Federation (AGF)

FAAC: Federal, states and local governments share N610.368 billion for January

The Federation Accounts Allocation Committee (FAAC) has shared a total of N610.368 billion to the three tiers of government.
Ahmed Idris, the Accountant-General of the Federation (AGF)

FAAC: Federal, states, local governments share N649.19 billion for December 2018

The Federal Government, states and local governments have shared N649.19 billion as revenue for the December 2018.
Zainab Ahmed

FAAC plans fresh guidelines for remittance, withdrawal from ECA

For more transparent dealing and avoidance of rancour, the Federation Accounts Allocation Committee (FAAC) is planning fresh guidelines for revenue remittances and withdrawals from the nation’s Excess Crude oil revenue Account (ECA).

FIRS remitted N4.63 trillion to FAAC between January and November 2018

The Federal Inland Revenue Service (FIRS) remitted about N4.63 trillion to the Federation Account between January and November this year, revenue collection figures submitted to the Federal Ministry of Finance have shown.

Plateau proposes N148 billion budget for 2019 fiscal year

Governor Simon Lalong of Plateau State has proposed a budget estimate of N148 billion for the 2019 fiscal year.

NEITI: Nigeria’s oil sector realised $17.05 billion in 2016

The total financial flows from Nigeria’s oil and gas sector in 2016 was the lowest in a decade and the fifth lowest since the return of democracy in 1999, the latest Nigeria Extractive Industries Transparency Initiative (NEITI) Oil & Gas Industry Audit report has revealed.
Zainab Ahmed

Excess crude account declines by $1.68 billion in three weeks

Mahmoud Isa-Dutse, the permanent secretary of the ministry of finance, says the balance of the excess crude account declined by $1.68 billion between November 25 and December 19.
Zainab Ahmed

FAAC: Federal, states, local governments share N812.76 billion for November

The Federal Government, states and local governments have shared N812.76 billion as revenue for the month of November.
Acting Finance Minister of Finance Zainab Ahmed

Federal, states, local governments share N742 billion in August

The Permanent Secretary, Federal Ministry of Finance, Mahmoud Isa-Dutse, made this known in Abuja while briefing journalists on the outcome of the monthly Federation Account Allocation Committee (FAAC) meeting.

FIRS six-month revenue increases 42% to N2.5 trillion

The Federal Inland Revenue Service has announced that it realised a total of N2.5 trillion (N2,529,615,174,601.25) from various taxes from January to June 2018.

Federal, states, local governments share N625.827 billion for March

The federal government and the other two tiers of government on Thursday shared the sum of N626.827bn for the month of March, 2018.

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[FILES] This aerial picture shows smouldering peatland after a fire blaize. (Photo by ADEK BERRY - AFP)

Gabon to be first African nation paid to fight deforestation

Gabon will become the first African country paid with international funds to preserve its forests in an effort to fight climate change, the United Nations said Sunday.
Ogun state governor Prince Dapo Abiodun has tweeted his real official portrait, as against the image that is being circulated by street traders in Abeokuta, the capital.

Ogun may establish two additional universities

The Ogun State Government has revealed that it may establish two additional universities to address the agitation of the people of the Central and Western Senatorial districts respectively.

Kogi Speaker receives defectors into APC

The Speaker of Kogi State House Assembly, Hon. Mathew Kolawole, has formally received some members of the opposition parties who recently defected to the ruling All Progressives Congress (APC).

‘Yahoo boy’ runs mad, strips self naked in Ekiti

There was drama on a major highway in Ado Ekiti, the Ekiti State capital, when a young man suspected to be an Internet fraudster ran mad in full public glare on Sunday evening.

Bandits release 30 more captives in Zamfara

The peace efforts initiated by the Zamfara government have continued to yield more fruits with 30 additional captives released by bandits on Sunday, after eight months in captivity.