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Petroleum Profit Tax
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.
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.
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.
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.
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.
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.
The Federation Accounts Allocation Committee (FAAC) has shared a total of N610.368 billion to the three tiers of government.
The Federal Government, states and local governments have shared N649.19 billion as revenue for the December 2018.
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).
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.
Governor Simon Lalong of Plateau State has proposed a budget estimate of N148 billion for the 2019 fiscal year.
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.
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.
The Federal Government, states and local governments have shared N812.76 billion as revenue for the month of November.
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.
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.
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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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.
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.
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).
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.
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.
Victor Osimhen admitted Ajax will be a difficult opponent for Lille but he is optimistic they can grab maximum points on the road.
Catholic Bishops Conference of Nigeria (CBCN) has urged the Federal Government to further strengthen the peace and security of the nation.
Elozonam Ogbolu has emerged the new Head of House in the ongoing BBNaija season four.
President Muhammadu Buhari on Friday met behind closed doors with the Acting Head of Civil Service of the Federation, Dr Folashade Yemi-Esan, at the State House, Abuja.g
Rafael Nadal has pulled out of his Laver Cup matches on Sunday due to inflammation in his hand.