Truth Is Treasure
By Mathew Dadiya, Abuja Nigeria’s debt stock has increased sharply as the public debt now stands at $79.5 billion (N28.63 trillion) as of the first quarter of 2020. The figure represents a 15 per cent increase from the figure that was recorded in the corresponding period in 2019, which was about $69.09
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By Mathew Dadiya, Abuja The World Bank in its latest Regional Economic Outlook for Sub-Saharan Africa, projected that the region may face sharpest economic decline since 1970’s experience.The report which was released on Thursday, showed that Real GDP is now forecast to contract by 3.2 percent, double the contraction predicted in
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By Mathew Dadiya, Abuja The Federal Government has directed the newly inaugurated chairman and members of the Revenue Mobilization, Allocation And Fiscal Commission (RMAFC) to drive the necessary process to mobilize funds from the non-oil sector. The Secretary to the Government of the Federation (SGF), Mr Boss Mustapha, gave the charge on
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By Mathew Dadiya, Abuja The Minister of Information and Culture, Lai Mohammed, has revealed that the Federal Government would make $1.1 billion (over N400 billion) revenue when the switch-over from analogue to digital broadcasting is completed and would create two million jobs in the next three years. Mohammed disclosed this on Wednesday, after
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By Tony Obiechina, Abuja The Federal Government has moved to recover a backlog of unremitted revenues accruing to it through the Stamp Duty Tax in the last six years, after making N66 billion within year 2020. The government disclosed this on Tuesday at the official inauguration of the Inter-Ministerial Committee on Audit and
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By Mathew Dadiya, Abuja President Muhammadu Buhari Tuesday, in Abuja appreciated the outstanding support and guidance provided by the Presidential Economic Advisory Council (PEAC), which he described as a “tutorial,” urging the members to do more to help the country exit “our very terrible state of development.” The President spoke during a
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By Mathew Dadiya, Abuja The Federal Government has stopped the Nigerian Electricity Regulatory Commission (NERC) and its Distributing Companies (DisCos) from electricity tariff hike earlier planned to commence today. This was sequel to two separate meetings held yesterday by President Muhammadu Buhari and Vice President Yemi Osinbajo with the leadership of the
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By Mathew Dadiya, Abuja President Muhammadu Buhari, has flagged-off the construction of the 614km Ajaokuta-Kaduna-Kano (AKK) gas pipeline contract awarded at a cost of US$2.592 billion, an equivalent of N1 trillion. The Engineering, Procurement, Construction (EPC) contract for the project was awarded to Messrs. Oilserv Plc/China First Highway Engineering Company (Oilserv/CFHEC Consortium)
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Benue State Internal Revenue Service (BIRS) has said it has fully digitalised all tax services as a measure to curtail difficulties taxpayers may have in accessing the agency's services. The agency said Governor Samuel Ortom has also granted a waiver of 50% on land related fees and charges. By the newly introduced
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From Dan Amasingha, Minna. Following the economic impact of the rampaging COVID - 19 on the economy of Niger State, Governor Abubakar Sani Bello, has approved the reduction of tax payment in the state as part of measures to cushion the economic hardship of the Covid-19 pandemic in the state. Chairman of
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